Lake Elmo Bank was chartered on August 1, 1911 by a group of farmers and local business owners. Their purpose was to establish a community bank which would be locally owned and responsive to the community’s needs.
The State Bank of Lake Elmo, now Lake Elmo Bank, has been and remains the community bank envisioned by its founders. Over the years, as the community gradually changed, so has Lake Elmo Bank to accommodate the community’s needs. But through it all, the Bank continued to remain locally owned and committed to its tradition of service.
Our tradition of service has guided us through many changes over the past 100 years – the change from a farm community to a more diverse, metropolitan community. At the same time, we have seen changes within the financial industry – from hand written ledgers to Online Banking and Cash Management Services.
|$0.01 – $999.99||0.00%|
|$1,000.00 – $9,999.99||0.05%|
|$10,000.00 – $24,999.99||0.07%|
|Monthly Maintenance Fee||$3.00*|
|Account Opening Fee||$25.00|
|Account Closing Fee||Unknown|
* Minimum balance and below balance monthly charge of $3.00 are waived for the first year.