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Coronavirus COVID-19

Updates Regarding Coronavirus COVID-19

Scroll down for an archive list of articles.

Currently accepting PPP loan applications!  Visit our Paycheck Protection Program (PPP) webpage to learn more.

Lake Area Bank Re-Opening Plan

Per Governor Walz press conference recently, Minnesota businesses will begin slowly reopening over the next couple weeks.  As an essential business, Lake Area Bank has remained open during the pandemic and continued serving our customers through the drive-thru and limited lobby appointments.  Beginning June 8, we plan to re-open Lake Area Bank lobbies with safety measures in place.

What are we doing to keep you and our staff safe when visiting our lobbies?

  • Limit number in bank. We will be limiting the number of customers inside the bank at one time.  Customers will be asked to remain at the entrance until greeted by a staff member to enter.
  • Social distancing. We will have markers on the lobby floor to indicate a safe social distance from other customers.
  • Masks. Although masks will not be mandatory in our branches, for everyone’s safety, they are encouraged.  If you do not have a mask and would like one during your visit, we are happy to provide one for you.
  • Plexiglass shields. We have installed plexiglass shields at our teller lines and banker desks as an extra layer of protection in preventing transmission of the virus.
  • Hand sanitizer. There are hand sanitizers placed throughout our common areas.
  • Pens. Please bring a pen, or use and keep one of our Lake Area Bank pens.  If you do not have a pen, we will provide a clean pen for you to use and keep.
  • Cleaning. We have increased our cleaning efforts and continue to disinfect high-touch surfaces throughout the day (handles, counters, keypads, etc).
  • Coffee/Water Stations. In an effort to minimize contamination, we are temporarily removing our coffee and water stations in the lobbies.
  • Gradual return to branch offices. Bankers and tellers have remained working in our branches throughout these past couple months.  Remaining employees will now begin returning to their branch offices in several phases to reduce the number of people in the building and potentially lessen exposure.
  • Employee social distancing. Employees will remain socially distant and internal employee meetings will continue to be conducted virtually to avoid branch-to-branch visits and minimize direct contact.  It is our intent to keep our branches free from unnecessary visits that could potentially spread the virus.

We will continue serving our customers through the drive-thru and lobby appointments until June 8 when we re-open our lobbies.  Lake Area Bank looks forward to serving you again in our lobbies and are taking necessary precautions to minimize risk and keep you protected.  We hope you and your families are staying healthy and safe!

Your friends at

LAKE AREA BANK

04/24/20 - Resumption of the Paycheck Protection Program

04/24/20

Resumption of the Paycheck Protection Program

President Trump signed a bill today appropriating more than $320 billion to the Paycheck Protection Program (PPP).  The Treasury and the Small Business Administration (SBA) jointly announced that the SBA will resume accepting PPP loan applications on Monday, April 27 from approved lenders.  For more information about the Paycheck Protection Program, visit the SBA’s PPP webpage.

Starting Monday, Lake Area Bank will begin processing current pending PPP applications.  We will then start accepting additional applications in the communities we serve, as capacity allows.  As an SBA lender, Lake Area Bank is honored to have supported numerous businesses through the Paycheck Protection Program and the Coronavirus Aid, Relief, and Economic Security (CARES) Act.  These businesses play an integral role in our communities and it is our duty and privilege to help see them through these challenging times. 

During the previous PPP availability, Lake Area Bank was able to efficiently fund and close more than $20 million loans in a two-week span.  Due to the tremendous dedication from our staff and business partners, we were able to fulfill the majority of requests received – meeting or exceeding many expectations.  Here are what a handful of our PPP clients have to say.

(04/09/20) “Thanks – 1st response I’ve gotten on any of the SBA stuff I’ve applied for. I love my bank!”

(04/13/20) “Thank you very much for your diligence, I have heard from many folks that they feel like their loan app (with other banks) disappeared into nowhere.  It was very nice to know that you were working hard on our behalf.”

(04/14/20) “We received the PPP loan payment today.  I want to thank you and your team for the effort you extended to make this happen.  I realize this was not an easy proposition, but it may be very important to our future.  Fighting the great unknown, you have to go to battle with the best in the business.  I feel like we are.”

(04/16/20) “You have done a great job for me and my business. I know it was not easy and we appreciate your efforts on our behalf.”

(04/20/20) “Thanks again for all your help with the PPP application and working tirelessly for our business. We appreciate your support more than you’ll ever know!”

04/20/20) “The bank we’ve used in the past is XXX and we’ve had many frustrations with them over the years. One thing we would like to do is forge a new relationship with a new bank and Lakes was on our list to look into as we’ve heard good things. The point of telling you this is to let you know that the help you’ve already provided [PPP loans] has been noticed and appreciated…”

(04/22/20) “Thank you for all your hard work getting the loan done. I appreciate you going the extra mile for me!!”

(04/22/20) “I wanted to take the time to thank you. We can’t thank you enough for the attention and hard work on our behalf for pushing through the PPP loan, and for your belief in us as customers. During a time when other banks struggled and were unable to assist their clients, we had a smooth, pain-free experience. You guys keep exceeding our expectations!”

If you have any questions or would like further information about the Paycheck Protection Program, please contact your Lake Area Bank business banker listed below.  Thank you for trusting Lake Area Bank.  We are here for you and ready to assist you during these uncertain times.

Your business banking team,

WHITE BEAR LAKE:

Ed Jambor
651-762-3586
[email protected]

Rita Pechmann
651-762-3564
[email protected]

STILLWATER:

Tony Cavallaro
651-430-9518
[email protected]

LINDSTROM:

Sheryl Campbell
651-213-0220
[email protected]

HUGO & FOREST LAKE:

Jake Johnson
651-407-3137
[email protected]

04/17/20 - Small business loan program just hit its $350 billion cap

04/17/20

Small business loan program just hit its $350 billion cap

Yesterday, the Small Business Administration announced that funding for the federal government’s Paycheck Protection Program reached the $349 billion lending limit and is no longer accepting any more lenders or applications. 

The Paycheck Protection Program (PPP) is part of the CARES Act federal stimulus package that Congress passed to support small business owners impacted by COVID-19 and keep their employees on payroll.  This lending program is unprecedented in size, scale, and demand.  In a statement released yesterday, the SBA announced that the funding limit had been reached after the agency had issued more than 14 years worth of loans in less than 14 days. 

Congress has been contemplating whether to inject another $250 billion into the PPP program.  Lake Area Bank will continue to monitor the situation and communicate if we are able to process more PPP loans. 

Additionally, the SBA is no longer able to accept new applications for the EIDL COVID-19 related assistance program, including EIDL Advances, based on available appropriations funding.  The SBA is committed to helping small businesses recover from the economic impact of COVID-19 and offers additional resources including:

If you have any questions, or would like to explore other lending options, please contact your Lake Area Bank business banker.  This is a difficult time for everyone, and we hope you and yours stay safe and healthy.

04/13/20 - COVID-19 Update & Frequently Asked Questions

COVID-19 Update & Frequently Asked Questions

As you are aware, Governor Walz recently extended the Minnesota Stay Home Order until May 4 in response to COVID-19.  We understand the uneasiness and hardship many of you are experiencing during these uncertain times.  Please know that we are here for you and willing to help in any way we can.  Although we continue to have suspended lobby visits, we are ready and able to support the majority of your financial needs via phone and drive-thrus.  Lake Area Bank online banking and mobile banking are also secure and popular options for efficient service.  As a quick reference, the attached document outlines the variety of financial tasks you can perform using each of these resources.

As we all maneuver through these challenging times, we want to reassure you of Lake Area Bank’s safety and stability.  Throughout these past few weeks, we’ve fielded a number of questions and would like to address some of the more common ones below.  Please do not hesitate to contact us if you have any further questions or concerns.

We wish you and your loved ones health and safety! 

Your friends at Lake Area Bank

With temporarily reduced branch access, is my money still insured?

Lake Area Bank is an FDIC-insured bank.  Regardless of the bank’s operating conditions, your money is insured by the FDIC.  Deposits with an FDIC-insured bank or savings institution will continue to be protected up to at least $250,000.  Please see additional information regarding deposit insurance.

Will there be enough cash during a pandemic or other national disaster?  Do I need to keep large amounts of cash in my possession to protect myself in case there is not enough cash available in the future?

The Federal Reserve System has and will continue to meet the currency needs of banking customers.  Be assured that sufficient resources are available to handle customer needs.  Consumers are encouraged to continue to conduct transactions as they normally would.  Credit and debit cards and other payment systems will operate as normal.

Keep in mind, the safest place for your money is inside an FDIC-insured bank.  Having significant sums of cash to fund more than your normal activities might seem like a good idea, but cash is also subject to loss or could make you a target for theft.  Banks will continue to ensure that their customers have access to funds either directly or electronically, and inside an FDIC-insured bank, your funds are protected by the FDIC.  Since 1933, no depositor has ever lost a penny of FDIC insured funds.

Is there anyone I can speak with if I have detailed questions about my FDIC deposit insurance coverage?

Yes.  The FDIC has a team of subject matter experts available to answer your questions.  Please call 1-877-ASK-FDIC (1-877-275-3342) and ask to speak to a Deposit Insurance Subject Matter Expert.

If you prefer, you can also contact the FDIC in writing through their FDIC Deposit Insurance Form via the FDIC Information and Support Center at:  https://ask.fdic.gov/fdicinformationandsupportcenter/s/

I’m concerned about fees and early withdrawal penalties caused by COVID-19 related issues.

We are aware of the financial impact the COVID-19 pandemic may have on some of our customers.  As a community bank, we value the relationships we have built with our customers, and we care for their financial well-being.  During this unprecedented time, we will work with customers who have contacted us regarding fees as a result of the COVID-19 pandemic.

How can I protect against fraud or scams?

Protect your personal and financial information.  Understand that some people may take advantage of COVID-19 by using fraudulent websites, phone calls, emails, and text messages claiming to offer “help” but may be trying to trick people into providing Social Security numbers, bank account numbers, and other valuable details.  Do not divulge your bank or credit card numbers or other personal information over the phone unless you initiated the conversation with the other party and you know that it is a reputable organization.  In addition, you should be cautious about online solicitations.  Be on guard against imposters who contact you claiming to be government employees or volunteers and who ask for personal financial information or money.  Reject offers to cash a check for someone in exchange for a fee, even if the bank makes the funds available to you right away, as it may later turn out that the check was fraudulent.

What can I do if someone steals my identity?

If you have reason to believe you may be a victim of ID theft, you may place a “fraud alert” on your credit file by contacting the fraud department at one of these three major credit bureaus.  You only need to notify one credit bureau.

Placing a “fraud alert” on your credit file can help prevent a thief from opening new accounts or making changes to your existing accounts.  Be aware, however, that placing an alert on your credit file also may prevent you from opening an account unless the bank can contact you and positively confirm your identity and that you are applying for credit.

In addition, people who think their personal information has been misused should contact the local police.  They also can contact and file a complaint with the Federal Trade Commission by phone at 1-877-438-4338 or online at www.identitytheft.gov/.

As always, protect your Social Security number, bank account and credit card numbers, and other personal information, especially in response to unsolicited requests from strangers.  Fraudsters may try to trick you into divulging personal information, or they may steal sensitive mail or documents from homes and offices.

04/06/20 - Update on Paycheck Protection Program

04/06/20

UPDATE:  Paycheck Protection Program

To Our Valued Customers,

Due to unprecedented volume of applications received to date, we are suspending accepting new applications under the Paycheck Protection Program.  We need to ensure we are able to service customers based on the applications currently received. 

We hope to be able to open this valuable program again in the future and will keep you updated.  Please contact your Lake Area Bank business banker if you have questions about this program and our capacity.

Thank you for your business.  We are here to serve and support. 

WHITE BEAR LAKE:
Ed Jambor
651-762-3586
[email protected]

Rita Pechmann
651-762-3564
[email protected]

STILLWATER:
Tony Cavallaro
651-430-9518
[email protected]

LINDSTROM:
Sheryl Campbell
651-213-0220
[email protected]

HUGO & FOREST LAKE:

Jake Johnson
651-407-3137
[email protected]

Thank you for banking at Lake Area Bank!!

04/02/20 - CARE ACT: Paycheck Protection Program

04/02/20

CARES ACT:
Paycheck Protection Program

To Valued Customers,

On 3/27/20, President Trump signed the Coronavirus Aid, Relief, and Economic Security (CARES) Act of which part provides $350 billion of funding through the SBA 7 (a) loan program.  As a reference, here’s the link for the approved Bill:

https://www.congress.gov/bill/116th-congress/house-bill/748/text#toc-HCCF2DA7CBD6341059EAB97C24489743B

Known as the Paycheck Protection Program the initiative is specifically designed to help small businesses keep their workforce employed.

  • The new loan program will be available retroactive from Feb. 15, 2020, so employers can rehire their recently laid-off employees through June 30, 2020.

Loan Terms & Conditions

  • Eligible businesses: All businesses, including non-profits, Veterans organizations, Tribal concerns, sole proprietorships, self-employed individuals, and independent contractors, with 500 or fewer employees, or no greater than the number of employees set by the SBA as the size standard for certain industries
  • Maximum loan amount up to $10 million
  • Loan forgiveness if proceeds used for payroll costs and other designated business operating expenses in the 8 weeks following the date of loan origination (due to likely high subscription, it is anticipated that not more than 25% of the forgiven amount may be for non-payroll costs)
    • Payroll costs, including benefits; Interest on mortgage obligations, incurred before February 15, 2020; Rent, under lease agreements in force before February 15, 2020; and  Utilities, for which service began before February 15, 2020.
  • All loans under this program will have the following identical features:
    • Interest rate of 0.5%
    • Maturity of 2 years
    • First payment deferred for six months
    • 100% guarantee by SBA
    • No collateral
    • No personal guarantees
    • No borrower or lender fees payable to SBA

The Small Business Administration (SBA) expect to have this program up and running by April 3rd so that businesses can go to a participating SBA 7(a) lender, bank, or credit union and apply for a loan as of the following dates:

  • April 3rd – small businesses and sole proprietors
  • April 10th – independent contractors and self-employed individuals

You are not alone!! As an experienced SBA Lender, Lake Area Bank will help you through this process. Because this is an SBA loan, we as your lender will lead the process by reviewing and approving your loan prior to submitting to the SBA for their final approval.  

Given that funds are limited and expected to go fast, we can’t guaranty that all businesses that apply will receive funding. However, in an effort to expedite the application process, we recommend you start preparing the following to the extent this is something you’re interested in applying for. Please be accurate and as detailed as possible so as not to delay the processing of your application.

STEP 1

  • Familiarize yourself with the Paycheck Protection Program. The following are a couple of good resources to review.

         home.treasury.gov/cares

         SBA.gov/Coronavirus

         US Chamber Checklist

STEP 2
Complete and gather the following documents and submit to your Lake Area Bank Business Banker.

  • Paycheck Protection Program Application (https://home.treasury.gov/system/files/136/Paycheck-Protection-Program-Application-3-30-2020-v3.pdf)
  • Articles of Incorporation/Organization of each borrowing entity ( non-customers only)
  • By Laws/Operating Agreement of each borrowing entity ( non-customers only)
  • All owners Driver’s Licenses
  • Payroll Expense verification documents to include:
    • IRS Form 941 and 944 (all filed in 2019)
    • Payroll Summary Report for full 2019 
    • If a Payroll Summary Report is not available, Employee Pay Stubs as of December 31, 2019 (or corresponding period) with corresponding bank statement, and breakdown of payroll benefits (vacation, allowance for dismissal, group healthcare benefits, retirement benefits, etc.)
    • Payroll costs will be capped at $100,000 on an annualized basis for each employee so records provided must show detail to reflect those employees
  • 1099s (if Independent Contractor)
  • Trailing twelve-month profit and loss statement (as of the date of application) for all applicants
  • Personal Tax Returns (2018 or 2019 if available for each owner)
  • Business Tax Returns (2018 or 2019 if available for each entity)
  • Most recent Mortgage Statement or Rent Statement (Lease)

Most recent Utility Bills (Electric, Gas, Telephone, Internet, Water, etc.)

Some of this may be more (or less) than needed but being prepared will help ensure a timely application without delays.  If you have any questions, please contact your Lake Area Bank business banker.

WHITE BEAR LAKE:
Ed Jambor
651-762-3586
[email protected]

Rita Pechmann
651-762-3564
[email protected]

STILLWATER:
Tony Cavallaro
651-430-9518
[email protected]

LINDSTROM:
Sheryl Campbell
651-213-0220
[email protected]

HUGO & FOREST LAKE:

Jake Johnson
651-407-3137
[email protected]

Thank you for banking at Lake Area Bank!!

03/26/20 - Essential Services & Forest Lake Saturdays

03/26/20

Essential Services & Forest Lake Saturdays

Essential Services:
We hope this email finds you well!  As you have likely heard, yesterday Governor Walz announced Minnesota has been placed on a “Stay at Home” Order in response to the coronavirus COVID-19 pandemic. The Executive Order directs Minnesotans to stay at home and limit movements outside of their homes beyond essential needs for 2 weeks.  Banks are considered an essential service under this order.  We want to assure you that we are here and ready to continue serving you.  Although our branch lobbies will remain closed during this time of social distancing, our drive-thrus remain open and able to handle the majority of your financial needs.  In-branch visits may be allowed for essential deposit and lending services by appointment only.

Forest Lake Branch – Saturdays:
In order to accommodate staffing shortages, our Forest Lake location will be temporarily closed on Saturdays beginning March 28, 2020.  Forest Lake lobby access may be available for essential services only by appointment during Monday thru Friday hours. Our night deposit box and ATM will continue to be accessible at all locations, including Forest Lake.  In the meantime, should our Forest Lake customers need assistance on a Saturday, please visit any of our branch drive-thrus.  As a reminder, online banking and mobile banking are 24/7 resources you may find valuable during this time of social distancing. 

We apologize for any inconvenience this may cause and look forward to our branch locations being back in full swing once the coronavirus subsides.  Thank you for your patience during this difficult time.

We hope you and your loved ones stay safe and healthy.

Your friends at
LAKE AREA BANK

Forest Lake
808 W Broadway Ave
Forest Lake, MN 55025
Phone: (651) 464-9001
Monday thru Friday
Essential lobby appointments only

Hugo
14602 Everton Ave N
Hugo, MN 55038
Phone: (651) 407-3137
Monday thru Saturday
Drive thru & essential lobby appointments only

Lindstrom
12790 First Ave N
Lindstrom, MN 55045
Phone: (651) 257-1117
Monday thru Saturday
Drive thru & essential lobby appointments only

Stillwater
5795 Minnesota Ave N
Stillwater, MN 55082
Phone: (651) 430-9500
Monday thru Saturday
Drive thru & essential lobby appointments only

White Bear Lake
1400 East Highway 96
White Bear Lake, MN 55110
Phone: (651) 653-9619
Monday thru Saturday
Drive thru & essential lobby appointments only

03/26/20 - Hardship Assistance

To our valued customers,

Coronavirus (COVID-19) may be impacting our communities, but it has not impacted our commitment to our communities. If COVID-19 has impacted your personal or business finances, please understand that we are here to help. We are well prepared to handle situations such as these with unwavering service and support.

If you are experiencing hardship and need assistance regarding your mortgage, consumer loan, business loan, or deposit services, please contact our bankers to discuss your individual situation and help find a solution to fit your needs. We may have options for deferring loan payments or establishing a plan that could relieve stress from your personal or business finances. Small businesses may also benefit from disaster and emergency loans provided by the state.  More information on these loan options can be found on our coronavirus webpage at https://www.lakeareabank.com/coronavirus/.

In this environment, our commitment to the health and safety of our customers and employees remains our #1 priority.  We have been ‘Making a Difference in People’s Lives’ since 1915 and will continue to provide the safety and security that has been a staple at Lake Area Bank.

3/26/20 - Small Business Disaster & Emergency Loans Now Available

03/26/20

Small Business Disaster & Emergency Loans Now Available

The COVID-19 pandemic has affected everyone in our economy, but we know small businesses have been hit particularly hard. Thanks to a concerted effort by the states, both Minnesota and Wisconsin small businesses are now eligible to receive disaster and emergency loans.  Below are a few options.

Economic Injury Disaster Loans (EIDL) from the SBA

These EIDL are direct loans from the Small Business Administration and the application is made directly to the SBA, not through individual banks. However, Lake Area Bank is available to assist our business customers with the application or answer any questions during the application process.

Online applications for these loans are now open to businesses at: https://disasterloan.sba.gov/ela

What’s an EIDL?

  • This program can provide low-interest loans of up to $2 million to small businesses and private non-profits. 
  • These loans can go toward working capital to meet needs including payroll, accounts payable, and fixed debt payments that can’t be paid due to the COVID-19 pandemic.  
  • The current interest rate is 3.75% for small businesses. The non-profit rate is 2.75%. 
  • These loans have long-term repayment options, up to a maximum of 30 years. 

For more information, visit the SBA’s Disaster Loan Assistance web page or download the three step process for disaster loans information sheet.  You can also watch this video to address common questions and provide tips for applying.

MN DEED Emergency Loan Program Now Accepting Applications

The Minnesota Department of Employment and Economic Development (DEED) has created a Small Business Emergency Loan Program to help Minnesota small business owners who need immediate assistance during COVID-19 closures.

  • The loan program is intended to help businesses temporarily closed under Executive Order 20-04, later clarified by Executive Order 20-08, which stopped onsite customer dining at restaurants and bars and closed an extensive list of other small businesses.
  • The Small Business Emergency Loan Program will make $30 million available.
  • These dollars will be used to make loans of between $2,500 and $35,000 for qualifying small businesses.
  • The loans will be 50% forgivable and offered at a 0% interest rate.
  • If other financing becomes available to small businesses that received an emergency loan, such as federal funding, the emergency loan must be repaid.

These emergency loans will be made through an existing network of lenders DEED works with across the state. Check out the list of lenders and application materials on DEED’s website.

Minnesota small businesses should contact one of the lenders on the list. If they still have questions about this emergency loan program, they can email [email protected].

WI Offers Grant Assistance to Existing CDFI Loan Clients

The Wisconsin Economic Development Corporation (WEDC) Small Business 20/20 Program provides grant funds to approved community development financial institutions (CDFIs). Approved CDFIs will award grants of up to $20,000 to their existing loan clients to assist with cash-flow challenges resulting from COVID-19.

Businesses that are not currently CDFI clients are not eligible to access these funds, but WEDC will work to expand access to funding through other programs as more resources become available. If you have more questions, view this FAQ page on SB20/20.

Lake Area Bank wishes you the best during these difficult times and are here to answer any questions or provide assistance with this process or any other needs your business may have.  Please contact your business banker at https://www.lakeareabank.com/meet-our-business-bankers/

3/17/20 Coronavirus - Temporary Lobby Closure

03/17/20

To Our Valued Customers,

With the progression of the coronavirus COVID-19 outbreak, and recommendations from the CDC and the Governor of Minnesota, we are making the proactive decision to limit lobby access at all Lake Area Bank locations as of Thursday, March 19th, 2020 until further notice. Drive-thrus will remain open and we will remain staffed at all locations.

During this limited lobby service, we are still just a phone call away. The exceptional financial services that we have always provided for our customers will not change. Most of our services can be conducted via drive-thru, night deposit boxes, and ATMs. We will be able to take appointments, but please call ahead to discuss your situation with one of our Universal Bankers so that we may develop a plan on how to best serve your needs. We are also happy to support you through our online banking and mobile banking tools.

As your trusted community financial institution, we are doing our part to flatten the curve of this virus and protect the communities we serve. We will continue to keep you up to date as we move forward. You can also check our website at www.lakeareabank.com for the latest updates.

We look forward to continuing to serve you and re-establishing full branch services once the need for social distancing diminishes. Thank you for being a valued Lake Area Bank customer.

Your friends at,
LAKE AREA BANK

3/16/20 - Coronavirus / Bank Precautions

03/16/20

To Our Valued Customers,

As coronavirus (COVID-19) begins to have an increased impact on our communities, Lake Area Bank is closely monitoring reports from the Centers for Disease Control (CDC) and continually evaluating precautionary measures for the health and safety of our customers and employees.

In our branches, we have taken the following steps to help mitigate risks of COVID-19:

Branch Safety. In addition to our regular custodial services, Lake Area Bank employees are actively cleaning and disinfecting common-use surfaces such as counters, door handles, desks, phones, ATMs, and coin counting machines to help ensure the health of our customers and staff.  You will also find increased availability of hand sanitizers within each of our branches. 

Staff Safety. We are committed to the safety of our employees and are requiring team members to remain at home with any signs of illness.  Staff are also encouraged to limit non-essential business travel and in-person group meetings as much as possible, and are reminded of the importance of cleaning office areas and regular hand sanitization.  In the event of a staff shortage, we ask for your patience as we evaluate staffing needs and branch services to best support your financial needs.

Customer Focus. While we pride ourselves on providing personal, face-to-face customer service, we understand during these uncertain times the desire to limit branch visits.  Please know that we have other financial resources that go beyond our physical branches, including 24/7 online banking, mobile banking and mobile deposit.  If you would like assistance setting up any of these services, please contact your local Lake Area Bank or watch a tutorial at https://www.lakeareabank.com/tutorials/.  For those preferring in-person bank services, we encourage use of our drive-thru lanes when possible; however, our branch lobbies remain open at this time for those who desire in-branch transactions.

Our priority is doing what we can to minimize potential spread of the coronavirus.  We will continue to monitor the situation and provide additional updates should further developments warrant changes that could impact your level of financial services. Lake Area Bank is devoted to staying on top of this emerging situation to keep you and our employees informed and prepared.

For more information or details on the coronavirus (COVID-19), please refer to the CDC website at https://www.cdc.gov/coronavirus/2019-ncov/index.html

Marc Campbell, CEO
Lake Area Bank

LAKE AREA BANK BRANCH PHONE NUMBERS

Forest Lake:
651-464-9001

Hugo:
651-407-3137

Lindstrom:
651-257-1117

Stillwater:
651-430-9500

White Bear Lake:
651-653-9619

Drive-Thru Locations:
Hugo
Lindstrom
Stillwater
White Bear Lake

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