New Name. Same People. Same Great Service!

Dear Annandale State Bank Customer:                                                                                                                                    December, 2016

Over the past 5 years you may have seen a few changes with regard to our business names. More specifically, our insurance companies moved from Security State Agency of Maple Lake, Annandale State Agency, and Clearwater State Agency to the common name of Lake Central Insurance Services. Also, we started an Investment division within our bank with the name of Lake Central Investments. As a result of these business names, we changed our outside signs at each of our locations to incorporate our “Lake Central” theme. Quite honestly, it has been interesting to see how many customers are just noticing our signage changes. Each week we still have customers who ask us when our signs changed. While the correct answer depends on the location of the sign, the last one was changed over 6 months ago.

For many, you haven’t noticed our changes because our owners, and more importantly, our employees have not changed. In fact, our 35 employees have 428 collective years of service (making our average tenure almost 12 years)! Among others, our current Board of Directors includes grandchildren of some of our original owners from 1893 and I am proud to be the second generation of the Bruns family to serve as President and CEO of this great company.

As we continue to see our business environment evolve with more electronic and subsequently global ability to serve customers, we have made a decision to rebrand our banking company with our Lake Central theme as well. On January 1, 2017, we will be taking the final step by officially changing Annandale State Bank’s name to Lake Central Bank!

We know the general public might assume when a bank’s name changes, there is a change in ownership. Let me assure you OUR name change has nothing to do with new owners or employees! Our name change will simply allow us to leverage our exceptional customer service across all our companies and communities, including our electronic community. Many of you may have questions concerning this transition and I, or any of our employees, will be happy to discuss our name change directly with you. We have also included a FAQ sheet on the back of this letter. Please take a moment to review this sheet and let us know if we can respond to any additional questions or concerns you may have.

We appreciate your business and look forward to serving you as

Sincerely,