Applications / Mortgage Analytics / Lenders / Minnesota / Lake Central Bank
Annandale, MN · State non-member bank · FDIC · $287 million assets · 55 loans in 2025
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55
loans originated, 2025
67
applications, 2025
1
states and territories
0
gaps bigger than at similar lenders
Our analysis, 2025
Lake Central Bank, a small Minnesota state bank, lends mostly to home buyers, and its typical loan is much larger than those of similar banks.
Its typical loan in 2025 was $285,000. Similar lenders, state non-member banks making between half and twice as many loans, typically lent $165,000, and the bank's figure was higher than about four in five of them. Home purchases made up 65.5% of its loans, and other purposes 20.0%. All of it was conventional.
It made 55 loans, up 34% from 41 in 2024, while similar banks grew 7%. At this size a dozen loans more or less moves the growth rate a long way. It filed no mortgage report from 2020 to 2022, years when a bank making fewer than 100 closed-end loans need not report; those are gaps, not years without lending.
It has lent in St. Cloud since at least 1990 and ranked 72 of 243 lenders there. Its share slipped to 0.2% from 0.4%. On a few dozen loans a handful going elsewhere, or a few larger loans by rivals, is enough to make that change. It also lends in Minneapolis-St. Paul, where it ranked 208 of 688.
Borrowers with low or moderate incomes took 28.3% of its loans, close to the 27.2% at similar banks. The bank, renamed from Annandale State Bank in 2017, first appears in the public data in 1990.
Similar lenders: same lender type, originations between half and twice the lender's in the data year. Written from the 2025 HMDA data and checked figure by figure against it.
FIG. 1 — LOANS ORIGINATED, 2018–2025
Originated means the loan was made: applications denied, withdrawn or not accepted are not counted. Years with no HMDA report from this lender are left out: since 2020 a bank making fewer than 100 closed-end loans a year need not report. Lake Central Bank took 67 applications in 2025.
SOURCE: FFIEC HMDA, LOANS ORIGINATED (ACTION TAKEN: LOAN ORIGINATED)
FIG. 2 — PRODUCT MIX, 2025
Purchase 65.5% · Other 20.0% · Home improvement 7.3% · Refinance 7.3%
Conventional 100.0% · of 55 loans. Purchase: buying a home. Refinance: replacing an existing mortgage, including cash-out. FHA: insured by the Federal Housing Administration. VA: guaranteed by the Department of Veterans Affairs. Conventional: neither.
SOURCE: FFIEC HMDA 2025, LOANS ORIGINATED
Where it lends, 2025
| State | Loans | Share |
|---|---|---|
| Minnesota | 55 | 100.0% |
Largest metro areas, 2025
| Metro area | Loans |
|---|---|
| Minneapolis-St. Paul-Bloomington | 36 |
| St. Cloud | 11 |
Identifiers
| LEI (Legal Entity Identifier, the global company code HMDA has used since 2018) | 549300YSKDQJCQKT0775 | 2018–2025 |
| RSSD (the Federal Reserve's identifier for banks and their parents) | 269058 | 2004–2023 |
| Respondent ID (the HMDA filer code before 2018) | 310989 | 1990–2017 |
Established 15 August 1893. Reported under HMDA 1990-2025.
Mergers, name changes, data editions and corrections: Lake Central Bank's data.
Lake Central Bank's data
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