First Trust Bank of Lakefield
Lakefield, MN · Owner: First Lakefield Bcorp Inc
$24.3M
total assets, March 31, 1985
$24.3M
total assets, March 31, 1985
First Trust Bank of Lakefield was a state nonmember bank in Lakefield, MN, owned by First Lakefield Bcorp Inc. It failed on May 31, 1985, and Fulda State Bank took over its deposits. At its last report it held $24.3 million in assets.
Updated Oct 11, 2026 · numbers as of March 31, 1985
This bank failed
- Failed on
- May 31, 1985
- Assets
- $24.3M
- Deposits
- $22.1M
- Estimated cost
- $9.4M
- Deposits went to
- Fulda State Bank, Fulda, MN
Total assets
$24.3M
-3.3% in a year · -3.6% in a quarter
Deposits
$22.1M
-2.0% in a year · -3.6% in a quarter
Loans
$18.3M
-2.6% in a year · +3.2% in a quarter
Profit so far
-$40K
Jan 1 to Mar 31, 1985 · -159.7% in a year
Capital ratio
7.32%
-0.15 pts in a year
Return on assets
-0.65%
-1.74 pts in a year
Facts
- Type
- State nonmember bank
- Head office
- 406 Main Street, Lakefield, MN, 56150
- County
- Jackson
- Holding company
- First Lakefield Bcorp Inc
- Established
- Jan 1, 1800
- Failed
- May 31, 1985
- Employees
- 14
- Id
- b5177
Quarter by quarter
March 31, 1984 to March 31, 1985
Assets, deposits and loans
Each quarter end, US dollars
Profit by quarter
Net income of each quarter, the last 5
Ratios
Percent. Return on assets and net interest margin are yearly rates.
Related pages
Questions and answers
How big is First Trust Bank of Lakefield?
$24.3 million in total assets and $22.1 million in deposits as of March 31, 1985, with assets down 3.3% from a year before. Its loans were $18.3 million.
Is First Trust Bank of Lakefield profitable?
No: it lost $40,000 from January 1 to March 31, 1985. Its return on assets was -0.65% a year; about 1% is typical.
Who owns First Trust Bank of Lakefield?
First Trust Bank of Lakefield is owned by First Lakefield Bcorp Inc, its holding company.
When did First Trust Bank of Lakefield fail?
May 31, 1985. Fulda State Bank of Fulda, MN took over its deposits. The estimated cost of the failure was $9.45 million.
Official public data from the reports every insured bank files each quarter. Profit so far runs from January 1 to the quarter end. Branch deposits are counted once a year, as of June 30. New quarters appear about two months after the quarter ends.