Statement of Condition

Dear Customers, Friends and Colleagues,
We are pleased to share with you our Statement of Condition.  Lake Elmo Bank continues to be a strong and well-capitalized institution.  Our capital position allows us to build on our 108-year tradition of building long-term customer relationships, which is the key to our success.  Our financial position also allows us to invest in staff and technology, so that we can provide our customers a full-range of loan and deposit products.  We intend to remain an independent, locally-owned and community-focused bank.

From all of us at Lake Elmo Bank, thank you for trusting us with your business and banking relationships.

  June 30, 2020

ASSETS
 Cash & Due from Banks $71,888,000
 Investment Securities 53,151,000
 Net Loans & Leases 303,283,000
 Premises & Fixed Assets 6,898,000
 Other Assets 9,313,000
 TOTAL ASSETS  $444,533,000
 LIABILITIES AND EQUITY CAPITAL
LIABILITIES:
Deposits $391,302,000
Other Liabilities 12,096,000
TOTAL LIABILITIES 403,398,000
TOTAL EQUITY CAPITAL 41,135,000
TOTAL LIABILITIES AND EQUITY CAPITAL $444,533,000

Chief Executive Officer
Daniel D. Raleigh
Chairman
Donald T. Raleigh
Chief Financial Officer
Richard P. Plummer