News Feed

07/22/10: The Dodd-Frank Wall Street Reform and Consumer Protection Act signed by President Barack Obama on July 21, 2010, made permanent the current standard maximum deposit insurance amount (SMDIA) of $250,000. The FDIC coverage limit applies per depositor, per insured depository institution, for each account ownership category.

05/27/09: The Lake Bank is celebrating the grand opening of its new location near the deli in Super One June 1 - 5th. Everyone is invited to stop by for a free gift and to register for prize drawings, including a Wii!  Refreshments will be served on Monday, June 1st as part of the week long celebration of the new location. The Super One Branch is open from 9am to 7pm Monday - Friday and from 9am to 5pm on Saturdays.

05/20/09: President Obama signed legislation on May 20th extending the increase in deposit insurance through 2013. Deposits at FDIC-insured institutions are now insured up to at least $250,000 per depositor through December 31, 2013. On January 1, 2014, the standard insurance amount will return to $100,000 per depositor for all account categories except for IRAs and other certain retirement accounts which will remain at $250,000 per depositor.

10/03/08: President George W. Bush signed the Emergency Economic Stabilization Act of 2008, which temporarily raises the basic limit on federal deposit insurance coverage from $100,000 to $250,000 per depositor. The temporary increase in deposit insurance coverage became effective immediately upon the President's signature. The legislation provides that the basic deposit insurance limit will return to $100,000 after December 31, 2009. 

8/11/08: The Lake Bank team of Deb Ruberg, Christina Cavallin, Dale Moe and Steve McLachlan participated in the annual Two Harbors Area Chamber Golf Scramble.  Kiera Miller greeted golfers on Hole #6 where the bank was giving away cash to participants in "Putt for a Buck".  The Lake Bank is a proud supporter of the Two Harbors Area Chamber of Commerce.