Lake Ridge Bank Personal Banking | Wisconsin Community Bank (2024)

FAQs

Is Lake Ridge Bank the same as State Bank of Cross Plains? ›

In March, State Bank of Cross Plains and Monona Bank announced our Merger of Equals. We knew right from the start that one of the most important decisions we would need to make was what to name our new bank. And this turned out to be much more difficult than we could have ever imagined.

Starting Feb. 13, State Bank of Cross Plains and Monona Bank will come together to become Lake Ridge Bank. Absolutely positively still an independent community bank. We are putting all of our collective experience, knowledge, and resources together to create the best community bank possible.

Unlike the publicly traded big banks, community banks usually have local owners. This difference means community bank managers can make critical decisions without outside shareholder approval. Instead, they can base their activities on the best interests of their stakeholders, customers, staff, and the local community.

Community service commitment: Like other local businesses, neighborhood banks often give back to their community through volunteer work and supporting local charitable organizations. Lower fees: Some community banks charge lower fees than national banks.

North Dakota is the only state that has established a publicly owned bank. Founded in 1919, the Bank of North Dakota's mission is to “promote agriculture, commerce, and industry” and “be helpful to and assist in the development of…

What bank has the most branches in the most states? Chase offers both the highest number of branches in the country and the most states with a branch location, per data from the Federal Reserve.

Currently we have total assets of $2.9 billion, 368 associates and approximately 1,400 shareholders. We serve clients at 21 locations, in 16 communities, in 3 different counties. It appears our clients and communities we serve have accepted our name change to Lake Ridge Bank and share in our excitement for our future.

Lake Ridge's board of directors consists of 14 members with seven directors from SBCP and seven directors from Monona, as well as a joint executive management team. Hunton Andrews Kurth LLP acted as legal advisor and The Bank Advisory Group acted as financial advisor to SBCP.

Two low earth-fill dams, Dry Falls Dam and North Dam, keep the water in the Grand Coulee, thus creating the reservoir named Banks Lake. It is named after Frank A. Banks, the construction supervisor at Grand Coulee Dam.

Flexibility and services

One area where community banks tend to be at a disadvantage is flexibility.

How safe are community banks? ›

Finally, community banks are often insured by the Federal Deposit Insurance Corporation (FDIC), which means that your deposits are protected by up to $250,000 per depositor but can be structured to cover a larger amount on your account.

Higher Quality Service: Smaller banks tend to have less employee turnover than larger institutions. Employees at community banks form deeper relationships with their customers, leading to higher quality service and flexible decision making.

What sets community banks apart. Local Focus: Unlike larger banks that may take deposits in one state and lend in others, community banks channel their loans to the neighborhoods where their depositors live and work, which helps local businesses and communities thrive.

Community banks are threaded into the local economy of many towns in the country. By serving the local residents and businesses with necessary financial services, community banks help them get ahead in their corner of the world.

In fact, the FDIC covers banks, big and small. So, if you're looking for a safe place to put your money, a verified FDIC-insured community bank is a great option. Centier Bank is a community bank that is FDIC-insured. This means that your money is safeguarded in the communities they serve.

In 2023, Monona Bank and State Bank of Cross Plains merged to become Lake Ridge Bank.

The First Bank of Baldwin, Baldwin, Wisconsin, changed its name to Pillar Bank, effective February 1, 2023. State Bank of Cross Plains, Cross Plains, Wisconsin, changed its name to Lake Ridge Bank, effective February 13, 2023.

State Bank of Cross Plains, 455 Junction Rd, Ste 100, Madison, WI - MapQuest.

(SGI) - Despite the State-owned commercial banks, commonly referred to as the Big 4 (Vietcombank, VietinBank, Agribank, and BIDV), maintaining substantial profits in the billions of dollars, their progress in increasing charter capital has been sluggish.