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
|Cash & Due from Banks||$71,888,000|
|Net Loans & Leases||303,283,000|
|Premises & Fixed Assets||6,898,000|
|LIABILITIES AND EQUITY CAPITAL|
|TOTAL EQUITY CAPITAL||41,135,000|
|TOTAL LIABILITIES AND EQUITY CAPITAL||$444,533,000|
Chief Executive Officer
Daniel D. Raleigh
Donald T. Raleigh
Chief Financial Officer
Richard P. Plummer