Lorain National Bank Key Facts and Figures

Lorain National Bank has a long history dating back to 1889. It was founded by a group of local businessmen who wanted to create a bank that would serve the needs of the Lorain community.

The bank has undergone several mergers and acquisitions over the years, with the most recent one being in 2004 when it merged with FirstMerit Bank. This merger brought new opportunities and resources to the bank, allowing it to expand its services and offerings.

One of the key facts about Lorain National Bank is that it has a strong commitment to community involvement. The bank has a long history of supporting local organizations and charities, and it continues to do so to this day.

Lorain National Bank's financial reports show a steady growth in assets over the years, with a significant increase from $1.3 billion in 2015 to $2.1 billion in 2020.

The bank's net income also saw a notable rise, from $24 million in 2015 to $41 million in 2020, indicating a strong financial performance.

Lorain National Bank's financial reports highlight a decrease in non-performing loans from 1.5% in 2015 to 0.8% in 2020, demonstrating the bank's efforts to manage risk effectively.

The bank's efficiency ratio improved from 62.3% in 2015 to 56.5% in 2020, indicating improved operational efficiency.

Lorain National Bank's financial reports show a steady increase in deposits, from $1.5 billion in 2015 to $2.6 billion in 2020, indicating a growing customer base.

Lorain National Bank has a long history dating back to 1873, when it was founded in Lorain, Ohio.

The bank has undergone several mergers and acquisitions over the years, including a merger with First Federal Savings and Loan in 2001.

The bank's main office is located at 4400 Broadway, Lorain, OH 44053.

Lorain National Bank offers a range of personal and business banking services, including checking and savings accounts, loans, and online banking.

The bank's online banking platform allows customers to manage their accounts, pay bills, and transfer funds from the comfort of their own homes.

Lorain National Bank has a team of experienced bankers who are dedicated to providing excellent customer service and support.

The bank's customer service hours are Monday through Friday, 9am to 5pm, and Saturday, 9am to 1pm.

Lorain National Bank has been a staple in the community for over 150 years, with a rich history that dates back to 1870.

The bank's commitment to customer service is evident in its long-standing relationships with local businesses and residents.

In 2002, Lorain National Bank was acquired by FirstMerit Corporation, expanding its reach and services to a wider area.

The bank's focus on community involvement has led to the creation of various programs and initiatives that support local economic development and education.

Lorain National Bank had a total of 260 employees (full-time equivalent) as of December 31, 2011. The bank's total assets stood at $1,167,862,000.

The bank's cash and due from depository institutions totaled $40,647, while its interest-bearing balances were $6,324. Securities accounted for $226,012 of its assets. Net loans and leases made up $829,473 of its assets, with a loan loss allowance of $17,063.

Here's a breakdown of the bank's assets:

The bank's total liabilities and capital stood at $1,041,330, with total liabilities amounting to $993,769. Total deposits were $939,049, with interest-bearing deposits making up $993,769 of its liabilities.

Assets and Liabilities (2011) play a crucial role in a bank's overall financial health.

The total assets of the bank stood at $1,167,862,000 as of December 31, 2011. This figure includes a wide range of assets such as cash, securities, loans, and fixed assets.

Cash and due from depository institutions accounted for $40,647,000 of the total assets. Interest-bearing balances made up another $6,324,000, while securities were valued at $226,012,000.

The bank's loans and leases portfolio was substantial, with a total value of $829,473,000. This includes noncurrent loans and leases worth $3,448,000. The loan loss allowance was set at $17,063,000.

The bank's total liabilities and capital stood at $1,041,330,000. Total liabilities accounted for $993,769,000 of this amount, with deposits making up the largest portion at $939,049,000. Interest-bearing deposits were valued at $993,769,000.

The bank's equity capital was $126,532,000, which includes common stock worth $2,261,000 and surplus of $59,628,000.

Here is a breakdown of the bank's assets and liabilities as of December 31, 2011:

Lorain National Bank has raised a total funding of $3.68M over 1 round.

This is a significant amount of funding that will likely be used to support the bank's operations and growth.

The bank has been able to secure this funding through a single round of investment, which is impressive given the competitive nature of the funding landscape.

Let's take a closer look at the specifics of this funding round to see what it might mean for the bank's future.