The Lake Bank

The Lake Bank was established in 1889 under the original name Commercial State Bank of Two Harbors. On May 1, 2000, it underwent a rebranding and became known as The Lake Bank, National Association, while simultaneously changing its regulatory oversight to The Office of the Comptroller of the Currency and becoming a member of the Federal Reserve System. However, on December 29, 2005, the institution changed its name to The Lake Bank and transitioned to a state-chartered bank, opting to withdraw from membership in the Federal Reserve System and placing its regulation under the Federal Deposit Insurance Corporation (FDIC). The Lake Bank continued its operations until May 22, 2021, when it merged with Park State Bank, located in Duluth, Minnesota.

Below is a list of some important events in banks history, including mergers and acquisitions.

1889-01-01Institution established. Original name: Commercial State Bank of Two Harbors.

2000-05-01Institution becomes member of the Federal Reserve System.

2000-05-01Changed Chartering Agency to The Office of the Comptroller of the Currency.

2000-05-01Changed Bank Class to National Bank, member of the Federal Reserve System (FRS).

2000-05-01Changed Primary Federal Regulatory Agency to The Office of the Comptroller of the Currency.

2000-05-01Changed Institution Name to The Lake Bank, National Association.

2005-12-29Institution withdraws from membership in the Federal Reserve System.

2005-12-29Changed Chartering Agency to State.

2005-12-29Changed Bank Class to State Chartered Bank, not member of the Federal Reserve System (FRS).

2005-12-29Changed Primary Federal Regulatory Agency to FDIC.

2005-12-29Changed Institution Name to The Lake Bank.

2021-05-22Merged and became part of Park State Bank in Duluth, MN.