Lake Area Bank Mortgage Rates, Fees & Info
Lindstrom, MNLEI: 549300SCFU7K14E0J331
Tax ID: 41-0531790
2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Bank Data
Overview
Lake Area Bank is a smaller bank specializing in Home Purchase and Refi loans. Lake Area Bank has a high proportion of conventional loans. They have an average proportion of FHA loans. They have a low ratio of USDA loans. Their top markets include Minneapolis, St. Cloud, Des Moines, Duluth, and Brainerd among others. Lake Area Bank has an above average approval rate for mortages when compared nationally. They have an average pick rate when compared to the same sample of other lendors. Lake Area Bank is typically an average fee lendor.Originations
2,825Origination Dollar Volume (All Markets)
$692,035,000Employee count
115Awards
Lake Area Bank - 2021
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For 2021, less than of lenders were eligible for this award.
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Relative Rate
Lake Area Bank's average 30 year fixed rate mortgage of loans were
2.62%.
The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.
This yields a difference of -0.53%.
Relative Fees
Lake Area Bank's average total fees for a 30 year fixed rate
mortgage are $4,890.
The average total origination fees for 30 year fixed rate mortgages (for all loan values, including
both points & up-front fees in addition to origination fees) are $4,750.
Top Markets
| Market | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) | 2,583 | $630,365,000 | $244,044 | $4,637 | 2.67% |
| Outside of Metro Areas | 67 | $13,895,000 | $207,388 | $4,381 | 2.82% |
| ST. CLOUD, MN (FHA|USDA|VA) | 36 | $6,440,000 | $178,889 | $3,664 | 2.69% |
| DES MOINES-WEST DES MOINES, IA (FHA|USDA|VA) | 1 | $4,685,000 | $4,685,000 | $0 | 3.90% |
| DULUTH, MN-WI (FHA|USDA|VA) | 21 | $4,655,000 | $221,667 | $3,581 | 2.75% |
| Brainerd, MN (FHA|USDA|VA) | 9 | $3,195,000 | $355,000 | $4,311 | 3.11% |
| Faribault-Northfield, MN (FHA|USDA|VA) | 8 | $2,480,000 | $310,000 | $5,705 | 2.41% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 6 | $1,610,000 | $268,333 | $4,154 | 3.00% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 4 | $1,460,000 | $365,000 | $4,824 | 2.94% |
| RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) | 3 | $1,365,000 | $455,000 | $5,671 | 3.29% |
| ROCHESTER, MN (FHA|USDA|VA) | 6 | $1,360,000 | $226,667 | $4,498 | 3.02% |
| Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 3 | $1,255,000 | $418,333 | $10,127 | 2.91% |
| Red Wing, MN (FHA|USDA|VA) | 6 | $1,030,000 | $171,667 | $4,124 | 2.04% |
| Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) | 3 | $975,000 | $325,000 | $5,121 | 3.00% |
| Hutchinson, MN (FHA|USDA|VA) | 6 | $890,000 | $148,333 | $5,099 | 2.71% |
| Owatonna, MN (FHA|USDA|VA) | 5 | $885,000 | $177,000 | $5,044 | 3.05% |
| Heber, UT (FHA|USDA|VA) | 1 | $815,000 | $815,000 | $8,202 | 3.25% |
| JACKSONVILLE, FL (FHA|USDA|VA) | 3 | $745,000 | $248,333 | $4,875 | 2.96% |
| MANKATO, MN (FHA|USDA|VA) | 4 | $650,000 | $162,500 | $3,858 | 2.78% |
| BILLINGS, MT (FHA|USDA|VA) | 1 | $545,000 | $545,000 | $3,885 | 3.13% |
| Fergus Falls, MN (FHA|USDA|VA) | 1 | $545,000 | $545,000 | $11,042 | 2.99% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 1 | $545,000 | $545,000 | $0 | 4.13% |
| PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) | 1 | $545,000 | $545,000 | $11,796 | 2.25% |
| Grand Rapids, MN (FHA|USDA|VA) | 1 | $505,000 | $505,000 | $3,885 | 3.00% |
| MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) | 2 | $450,000 | $225,000 | $1,929 | 2.44% |
| SALT LAKE CITY, UT (FHA|USDA|VA) | 1 | $445,000 | $445,000 | $4,039 | 2.50% |
| CINCINNATI, OH-KY-IN (FHA|USDA|VA) | 1 | $445,000 | $445,000 | $4,459 | 2.25% |
| EAU CLAIRE, WI (FHA|USDA|VA) | 1 | $435,000 | $435,000 | $15,625 | 2.63% |
| MADISON, WI (FHA|USDA|VA) | 1 | $415,000 | $415,000 | $3,007 | 2.13% |
| Alexandria, MN (FHA|USDA|VA) | 2 | $410,000 | $205,000 | $4,332 | 3.38% |
| RENO, NV (FHA|USDA|VA) | 1 | $405,000 | $405,000 | $3,210 | 2.75% |
| OGDEN-CLEARFIELD, UT (FHA|USDA|VA) | 1 | $405,000 | $405,000 | $3,580 | 2.88% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 1 | $395,000 | $395,000 | $4,742 | 2.38% |
| FRESNO, CA (FHA|USDA|VA) | 2 | $370,000 | $185,000 | $2,836 | 3.13% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 1 | $365,000 | $365,000 | $7,764 | 2.88% |
| GREEN BAY, WI (FHA|USDA|VA) | 1 | $345,000 | $345,000 | $2,525 | 3.25% |
| PUNTA GORDA, FL (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $5,538 | 2.75% |
| SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $4,922 | 3.00% |
| Beaver Dam, WI (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $7,311 | 2.99% |
| Willmar, MN (FHA|USDA|VA) | 2 | $300,000 | $150,000 | $6,412 | 3.25% |
| New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $3,436 | 2.63% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $3,856 | 3.63% |
| NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) | 2 | $290,000 | $145,000 | $3,534 | 2.69% |
| Sebastian-Vero Beach, FL (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $9,114 | 3.75% |
| ALBUQUERQUE, NM (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $6,128 | 2.25% |
| CORPUS CHRISTI, TX (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $12,042 | 2.63% |
| FORT COLLINS, CO (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $2,426 | 2.25% |
| ANCHORAGE, AK (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $3,338 | 2.63% |
| HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $6,237 | 3.25% |
| Menomonie, WI (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $2,146 | 2.63% |
| PORT ST. LUCIE, FL (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $3,957 | 3.25% |
| Worthington, MN (FHA|USDA|VA) | 2 | $180,000 | $90,000 | $4,016 | 1.50% |
| Austin, MN (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $6,226 | 2.99% |
| Pahrump, NV (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $3,210 | 2.88% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $3,540 | 3.13% |
| TULSA, OK (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $3,399 | 2.75% |
| Clinton, IA (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $0 | 3.38% |
| Winona, MN (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $0 | 3.49% |
| FARGO, ND-MN (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $4,677 | 3.00% |
| CHAMPAIGN-URBANA, IL (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $2,191 | 2.25% |
| Detroit-Warren-Dearborn, MI (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $4,425 | 2.50% |
| Albert Lea, MN (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $4,837 | 3.25% |
| DAVENPORT-MOLINE-ROCK ISLAND, IA-IL (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $0 | 3.63% |
Lake Area Bank's top markets include Minneapolis, St. Cloud, Des Moines, Duluth, and Brainerd among others.
Product Mix
| Loan Type | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Conventional | 2,376 | $569,360,000 | $239,630 | $3,650 | 2.63% |
| FHA | 409 | $107,755,000 | $263,460 | $9,515 | 2.95% |
| VA | 35 | $13,625,000 | $389,286 | $8,795 | 2.80% |
| USDA | 5 | $1,295,000 | $259,000 | $5,961 | 2.78% |
For the 2021 period, Lake Area Bank's most frequently originated loan type of loans were Conventional, with 2,376 originations. Their 2nd most popular type is FHA, with 409 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Home Purchase | 1,846 | $447,870,000 | $242,616 | $5,173 | 2.56% |
| Refi | 604 | $154,140,000 | $255,199 | $3,489 | 2.78% |
| Cash Out Refi | 335 | $86,015,000 | $256,761 | $3,857 | 3.01% |
| Home Improvement | 31 | $1,705,000 | $55,000 | $869 | 3.73% |
| Other | 9 | $2,305,000 | $256,111 | $4,279 | 3.13% |
For the 2021, Lake Area Bank's most frequently cited loan purpose of loans were Home Purchase, with 1,846 originations. The 2nd most popular reason of loans were Refi, with 604 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 30 Year | 2,310 | $567,210,000 | $245,545 | $4,890 | 2.62% |
| 15 Year | 194 | $46,880,000 | $241,649 | $3,307 | 2.45% |
| 10 Year | 125 | $9,725,000 | $77,800 | $431 | 3.32% |
| 20 Year | 105 | $20,445,000 | $194,714 | $2,562 | 2.99% |
| 30+ year | 54 | $33,750,000 | $625,000 | $10,944 | 3.06% |
| Other | 25 | $6,755,000 | $270,200 | $3,337 | 3.29% |
| 5 Year | 11 | $6,975,000 | $634,091 | $0 | 4.07% |
| 1 Year | 1 | $295,000 | $295,000 | $0 | 5.00% |
For the 2021, Lake Area Bank's most frequently cited loan length of loans were 30 Year, with 2,310 originations. The 2nd most popular length of loans were 15 Year, with 194 originations.
Origination Fees
| Origination Fee | Originations | Total Value | Average Loan |
|---|---|---|---|
| $1k-2k | 1,366 | $375,690,000 | $275,029 |
| $3k-4k | 527 | $146,185,000 | $277,391 |
| $<1k | 412 | $8,260,000 | $20,049 |
| $2k-3k | 240 | $52,820,000 | $220,083 |
| $5k+ | 108 | $65,460,000 | $606,111 |
$4,890 of loans were Lake Area Bank's average total fees, while their most frequently occuring range of origination fees were in the $1k-2k bucket, with 1,366 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 2.5-3% | 1,291 | $366,915,000 | $284,210 |
| 3-4% | 869 | $224,655,000 | $258,521 |
| <2.5% | 616 | $89,750,000 | $145,698 |
| 4-5% | 49 | $10,715,000 | $218,673 |
During 2021, Lake Area Bank's average interest rate of loans were 2.62%, while their most frequently originated rate bucket of loans were 2.5-3%, with 1,291 originations.
Loan Sizing
| Loan Size | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $200k-400k | 1,477 | $412,685,000 | $279,408 | $5,677 | 2.97% |
| $100k-200k | 578 | $93,420,000 | $161,626 | $4,011 | 2.92% |
| $100,000 or less | 456 | $10,980,000 | $24,079 | $417 | 1.21% |
| $400k-600k | 257 | $121,615,000 | $473,210 | $5,841 | 2.94% |
| $600k-1MM | 45 | $34,575,000 | $768,333 | $10,378 | 3.05% |
| $1MM+ | 12 | $18,760,000 | $1,563,333 | $16,817 | 3.18% |
2021 saw Lake Area Bank place emphasis on $200k-400k loans with 1,477 originations, totaling $412,685,000 in origination value.
Applicant Income
| Applicant Income | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $50k-75k | 840 | $165,070,000 | $196,512 | $4,591 | 2.51% |
| $50k or less | 552 | $82,940,000 | $150,254 | $4,251 | 2.21% |
| $75k-100k | 508 | $123,970,000 | $244,035 | $4,673 | 2.84% |
| $100k-150k | 462 | $133,360,000 | $288,658 | $4,423 | 3.00% |
| $150k-250k | 273 | $103,275,000 | $378,297 | $5,201 | 2.90% |
| $250k+ | 128 | $60,220,000 | $470,469 | $6,612 | 3.06% |
Lake Area Bank lent most frequently to those with incomes in the $50k-75k range, with 840 originations. The second most popular income band? $50k or less, with 552 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 20-30% | 496 | $132,700,000 | $267,540 | $4,033 | 2.84% |
| 30-36% | 449 | $122,855,000 | $273,619 | $4,753 | 2.77% |
| 43% | 172 | $34,850,000 | $202,616 | $4,366 | 2.47% |
| 42% | 154 | $37,950,000 | $246,429 | $4,643 | 2.57% |
| <20% | 151 | $39,055,000 | $258,642 | $3,667 | 2.77% |
| 41% | 125 | $28,185,000 | $225,480 | $5,132 | 2.80% |
| 44% | 118 | $25,540,000 | $216,441 | $4,422 | 2.53% |
| 39% | 116 | $25,060,000 | $216,034 | $4,398 | 2.59% |
| 49% | 115 | $22,515,000 | $195,783 | $4,766 | 2.41% |
| 45% | 112 | $25,520,000 | $227,857 | $4,637 | 2.50% |
| 47% | 106 | $20,790,000 | $196,132 | $4,836 | 2.45% |
| 46% | 105 | $22,925,000 | $218,333 | $5,183 | 2.51% |
| 48% | 104 | $23,730,000 | $228,173 | $5,087 | 2.32% |
| 40% | 102 | $24,200,000 | $237,255 | $4,460 | 2.54% |
| 37% | 94 | $21,230,000 | $225,851 | $4,418 | 2.69% |
| 36% | 93 | $21,295,000 | $228,978 | $3,938 | 2.82% |
| 38% | 89 | $21,055,000 | $236,573 | $4,325 | 2.59% |
| 50-60% | 75 | $21,585,000 | $287,800 | $9,714 | 2.72% |
Lake Area Bank lent most frequently to those with DTI ratios of 20-30%, with 496 originations. The next most common DTI ratio? 30-36%, with 449 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 1,773 | $442,565,000 | $249,614 | $4,549 | 2.72% |
| Not provided | 527 | $123,295,000 | $233,956 | $4,595 | 2.53% |
| Asian | 247 | $61,675,000 | $249,696 | $5,142 | 2.61% |
| Black | 216 | $42,030,000 | $194,583 | $4,698 | 2.50% |
| Not applicable | 38 | $16,690,000 | $439,211 | $0 | 4.06% |
| American Indian | 21 | $5,175,000 | $246,429 | $5,357 | 2.67% |
| Native Hawaiian | 1 | $365,000 | $365,000 | $3,752 | 3.25% |
| Asian Indian | 2 | $240,000 | $120,000 | $1,800 | 1.69% |
Approval Rates
Total approvals of all applications97.16%
Lake Area Bank has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination90.63%
Lake Area Bank has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 2,825 | $692,035,000 | $244,968 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| 2,825 | $692,035,000 | $244,968 |
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 20-40% | 73 | $12,175,000 | $166,781 | $2,884 | 2.83% |
| 40-60% | 272 | $64,050,000 | $235,478 | $3,431 | 2.74% |
| 60-80% | 791 | $227,645,000 | $287,794 | $4,067 | 3.02% |
| 80-100% | 1,279 | $377,795,000 | $295,383 | $6,589 | 2.98% |
| Over 100% | 9 | $3,735,000 | $415,000 | $13,507 | 2.94% |
| Under 20% | 401 | $6,635,000 | $16,546 | $196 | 0.96% |
Bank Details
Branches
| Bank Name | Branch | Branch Type | Deposits (000's) |
|---|---|---|---|
| Lake Area Bank | 808 W. Broadway, Suite D Forest Lake, MN 55025 | Full Service B&M | $25,564 |
| Lake Area Bank | 12790 First Avenue North Lindstrom, MN 55045 | Full Service B&M | $80,861 |
| Lake Area Bank | 1400 East Highway 96 White Bear Lake, MN 55110 | Full Service B&M | $196,752 |
| Lake Area Bank | 14602 Everton Avenue North Hugo, MN 55038 | Full Service B&M | $21,794 |
| Lake Area Bank | 5795 Morning Dove Avenue North Stillwater, MN 55082 | Full Service B&M | $19,375 |
For 2021, Lake Area Bank had 5 branches.
Yearly Performance Overview
Bank Income
| Item | Value (in 000's) |
|---|---|
| Total interest income | $16,077 |
| Net interest income | $15,180 |
| Total noninterest income | $26,746 |
| Gross Fiduciary activities income | $0 |
| Service charges on deposit accounts | $458 |
| Trading account gains and fees | $0 |
| Additional Noninterest Income | $26,288 |
| Pre-tax net operating income | $9,523 |
| Securities gains (or losses, -) | $2,901 |
| Income before extraordinary items | $12,424 |
| Discontinued Operations (Extraordinary gains, net) | $0 |
| Net income of bank and minority interests | $12,424 |
| Minority interest net income | $0 |
| Net income | $12,424 |
| Sale, conversion, retirement of capital stock, net | $0 |
| Net operating income | $9,523 |
Lake Area Bank's gross interest income from loans was $16,077,000.
Lake Area Bank's net interest income from loans was $15,180,000.
Lake Area Bank's fee based income from loans was $458,000.
Lake Area Bank's net income from loans was $12,424,000.
Bank Expenses
| Item | Value (in 000's) |
|---|---|
| Total interest expense | $897 |
| Provision for credit losses | $-150 |
| Total noninterest expense | $32,553 |
| Salaries and employee benefits | $21,571 |
| Premises and equipment expense | $1,341 |
| Additional noninterest expense | $9,641 |
| Applicable income taxes | $0 |
| Net charge-offs | $-65 |
| Cash dividends | $4,786 |
Lake Area Bank's interest expense for loans was $897,000.
Lake Area Bank's payroll and benefits expense were $21,571,000.
Lake Area Bank's property, plant and equipment expenses $1,341,000.
Loan Performance
| Type of Loan | % of Loans Noncurrent (30+ days, end of period snapshot) |
|---|---|
| All loans | 0.0% |
| Real Estate loans | 0.0% |
| Construction & Land Development loans | 0.0% |
| Nonfarm, nonresidential loans | 1.0% |
| Multifamily residential loans | 0.0% |
| 1-4 family residential loans | 0.0% |
| HELOC loans | 0.0% |
| All other family | 0.0% |
| Commercial & industrial loans | 0.0% |
| Personal loans | 0.0% |
| Credit card loans | 0.0% |
| Other individual loans | 0.0% |
| Auto loans | 0.0% |
| Other consumer loans | 0.0% |
| Unsecured commercial real estate loans | 0.0% |
Deposits
| Type | Value (in 000's) |
|---|---|
| Total deposits | $354,069 |
| Deposits held in domestic offices | $354,069 |
| Deposits by Individuals, partnerships, and corporations | $319,938 |
| Deposits by U.S. Government | $0 |
| Deposits by States and political subdivisions in the U.S. | $20,500 |
| Deposits by Commercial banks and other depository institutions in U.S. | $13,631 |
| Deposits by Banks in foreign countries | $0 |
| Deposits by Foreign governments and official institutions | $0 |
| Transaction accounts | $38,383 |
| Demand deposits | $20,696 |
| Nontransaction accounts | $315,686 |
| Money market deposit accounts (MMDAs) | $62,440 |
| Other savings deposits (excluding MMDAs) | $204,159 |
| Total time deposits | $49,087 |
| Total time and savings deposits | $333,373 |
| Noninterest-bearing deposits | $97,322 |
| Interest-bearing deposits | $256,747 |
| Retail deposits | $343,717 |
| IRAs and Keogh plan accounts | $4,339 |
| Brokered deposits | $1,988 |
| Deposits held in foreign offices | $0 |
Assets
| Asset | Value (in 000's) |
|---|---|
| Total Assets | $423,563 |
| Cash & Balances due from depository institutions | $77,353 |
| Interest-bearing balances | $29,839 |
| Total securities | $74,051 |
| Federal funds sold & reverse repurchase | $2,140 |
| Net loans and leases | $246,313 |
| Loan and leases loss allowance | $2,870 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $4,940 |
| Other real estate owned | $1,613 |
| Goodwill and other intangibles | $6,416 |
| All other assets | $10,737 |
Liabilities
| Liabilities | Value (in 000's) |
|---|---|
| Total liabilities and capital | $423,563 |
| Total Liabilities | $369,084 |
| Total deposits | $354,069 |
| Interest-bearing deposits | $256,747 |
| Deposits held in domestic offices | $354,069 |
| % insured (estimated) | $78 |
| Federal funds purchased and repurchase agreements | $0 |
| Trading liabilities | $0 |
| Other borrowed funds | $9,000 |
| Subordinated debt | $0 |
| All other liabilities | $6,015 |
Issued Loan Types
| Type | Value (in 000's) |
|---|---|
| Net loans and leases | $246,313 |
| Loan and leases loss allowance | $2,870 |
| Total loans and leases (domestic) | $249,183 |
| All real estate loans | $215,971 |
| Real estate loans in domestic offices | $215,971 |
| Construction and development loans | $16,861 |
| Residential 1-4 family construction | $16,861 |
| Other construction, all land development and other land | $0 |
| Loans secured by nonfarm nonresidential properties | $98,030 |
| Nonfarm nonresidential secured by owner-occupied properties | $46,190 |
| Commercial real estate & other non-farm, non-residential | $51,840 |
| Multifamily residential real estate | $10,532 |
| 1-4 family residential loans | $90,312 |
| Farmland loans | $236 |
| Loans held in foreign offices | $0 |
| Farm loans | $0 |
| Commercial and industrial loans | $26,986 |
| To non-U.S. addressees | $0 |
| Loans to individuals | $698 |
| Credit card loans | $0 |
| Related Plans | $34 |
| Consumer Auto Loans | $396 |
| Other loans to individuals | $268 |
| All other loans & leases | $5,528 |
| Loans to foreign governments and official institutions | $0 |
| Other loans | $0 |
| Loans to depository institutions and acceptances of other banks | $0 |
| Loans not secured by real estate | $1,030 |
| Loans secured by real estate to non-U.S. addressees | $0 |
| Restructured Loans & leases | $5,582 |
| Non 1-4 family restructured loans & leases | $5,577 |
| Total loans and leases (foreign) | $0 |
Lake Area Bank had $246,313,000 of loans outstanding in 2021. $215,971,000 of loans were in real estate loans. $16,861,000 of loans were in development loans. $10,532,000 of loans were in multifamily mortgage loans. $90,312,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $396,000 of loans were in the auto loan category.
Small Business Loans
| Categorization | # of Loans in Category | $ amount of loans (in 000's) | Average $/loan |
|---|---|---|---|
| Nonfarm, nonresidential loans - <$1MM | 121 | $38,774 | $320,446 |
| Nonfarm, nonresidential loans - <$100k | 4 | $163 | $40,750 |
| Nonfarm, nonresidential loans - $100-250k | 39 | $5,003 | $128,282 |
| Nonfarm, nonresidential loans - $250k-1MM | 78 | $33,608 | $430,872 |
| Commercial & Industrial, US addressed loans - <$1MM | 202 | $21,174 | $104,822 |
| Commercial & Industrial, US addressed loans - <$100k | 91 | $2,107 | $23,154 |
| Commercial & Industrial, US addressed loans - $100-250k | 64 | $6,489 | $101,391 |
| Commercial & Industrial, US addressed loans - $250k-1MM | 47 | $12,578 | $267,617 |
| Farmland loans - <$1MM | 5 | $236 | $47,200 |
| Farmland loans - <$100k | 4 | $126 | $31,500 |
| Farmland loans - $100-250k | 1 | $110 | $110,000 |
