Bank · FDIC insured
Lake Central Bank
A $291.3M bank headquartered in Annandale, MN, with 3 branches in Minnesota. Best rates: CDs 4.06% APY.
Rates
No Carrot Score yet: it needs scores for at least two of CDs, savings, auto loans and credit cards. Savings: only special-purpose accounts (IRA, youth) are published. Auto loans: no rates found on its website. Credit cards: no rates found on its website.
- CDs874.06%for 31–60 monthsCD rates →
- Savings—4.44%Needs another account or monthly activitySavings rates →
Deposits are federally insured by the FDIC up to $250,000 per depositor.
About Lake Central Bank
Founded in 1893 as The State Bank of Annandale, the bank merged to become Annandale State Bank in 1933 before officially changing its name to Lake Central Bank in 2017.
Lake Central Bank is locally owned under bank holding company Lake Central Financial, Inc., which purchased the State Bank of Danvers in August 2023.
- Headquarters
- 40 Chestnut St W, Annandale, MN 55302
- FDIC certificate
- 10989 ↗
Branches
3 branches in Minnesota
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Minnesota
3 branches
Minneapolis area · 2
- Lake Central BankMain office40 Chestnut St W, Annandale, MN 55302Directions
- Clearwater Branch700 State Highway 24 North, Clearwater, MN 55320Directions
Benson area · 1
- State Bank Of Danvers Branch2010 Minnesota Ave, Benson, MN 56215Directions
Walk-in offices from the FDIC directory as of September 4, 2026. Directions open Google Maps. A nearby branch doesn’t mean you can join or open an account.
Financial details
| Measure | This bank | Peers’ middle | Strongest quarter |
|---|---|---|---|
| CapitalLeverage ratio | 11.15% | 10.98% | 13.00% or more |
| Troubled loansNoncurrent | 0.04% | 0.42% | 0.09% or less |
| ProfitabilityReturn on assets | 2.38% | 1.24% | 1.68% or more |
| LendingLoans per $100 deposited | $72 | $81 | — |
- CapitalLeverage ratio11.15%Peers’ middle 10.98% · Top 25% 13.00%+
- Troubled loansNoncurrent0.04%Peers’ middle 0.42% · Top 25% ≤0.09%
- ProfitabilityReturn on assets2.38%Peers’ middle 1.24% · Top 25% 1.68%+
- LendingLoans per $100 deposited$72Peers’ middle $81
Compared with the 2,650 banks with $100 million to $1 billion in assets. The strongest quarter is what the best 25% of them reach: more capital and profit, fewer troubled loans. Lending has no better end.Troubled loans are noncurrent: 90 or more days late, or no longer earning interest.
Regulators’ own ratings of Lake Central Bank are confidential. These figures are what it reports to the FDIC each quarter, set beside its peers; they aren’t a rating.