Rita Pechmann - Lake Area Bank ’ s Vice President and Senior Business Banker
Along with serving the community , this past year Jambor served as Board President of the Vadnais Heights Economic Development Corporation ( VHEDC ), while Rita Pechmann , Lake Area Bank ’ s Vice President and Senior Business Banker , served as Board President at the White Bear Area Chamber of Commerce .
Services
Lake Area Bank offers a wide variety of services to both personal and business accounts . “ Our core focus is supporting small to mid-sized businesses with revenues up to $ 25 million . We take pride in providing financial advice and building personal relationships they may not find at a larger bank . We work with a large number of manufacturing customers and commercial real estate customers – from an investor with two or three real estate investments , to a larger investor with numerous properties ,” said Jambor .
Among the services available to both personal and business customers : checking and savings accounts , Certificates of Deposit ( CDs ) and high yield money market accounts , Individual Retirement Accounts ( IRAs ), loans , and merchant processing services .
Lake Area Bank ’ s History
Originally chartered as Security State Bank of Lindstrom , Lake Area Bank started as a wooden bank building and was located on the corner of Park Street and Lake Boulevard ( now Highway 8 ) in Lindstrom . The bank was bought by its current owner , the Erickson family , in 1985 . A new culture of service and growth was implemented adding locations in White Bear Lake ( 1989 ), Forest Lake ( 1994 ), Hugo ( 2001 ) and Stillwater ( 2008 ). Name changes of the bank occurred in 1988 , when Lake Area Security Bank was adopted and then shortened to Lake Area Bank in 1992 . Lake Area Bank and its employees take pride in being a locally owned community bank , making a difference in their communities and being trusted financial advisors for customers for more than 100 years .
For more information about Lake Area Bank , as well as its products and services , visit Lakeareabank . com .
Lake Area Bank has five branches , and a stand-alone location that handles mortgages , all located in the northeast Metro .
Forest Lake 808 W . Broadway Ave . Forest Lake , MN 55025 Phone : ( 651 ) 464-9001
Hugo 14602 Everton Ave . N . Hugo , MN 55038 Phone : ( 651 ) 407-3137
Lindstrom 12790 First Ave . N . Lindstrom , MN 55045 Phone : ( 651 ) 257-1117
Stillwater 5795 Minnesota Ave . N . Stillwater , MN 55082 Phone : ( 651 ) 430-9500
White Bear Lake 1400 East Highway 96 White Bear Lake , MN 55110 Phone : ( 651 ) 653-9619
Lake Area Mortgage 1030 West County Road E Suite 200 Shoreview , MN 55126 Phone : ( 651 ) 209-2900
BENEFITS OF BEING AN INVESTOR
Join other business professionals in educational seminars , professional work programs and committees such as HR Connections , Career Pathways Programs , Women in Leadership , North Metro Young Professionals , Northeast Metro Nonprofit Collaborative “ Partners for Good ” and workforce initiatives . Opportunities for you and your business :
• Participate in promoting a healthy ,
vibrant economy , creating community prosperity and making an impact .
• Access to expert resources and business connections to grow and expand your business .
• Unique programs bring businesses and civic leaders together to promote common interests and sustain growth .
WHAT YOU GET AS AN INVESTOR : Recognition as an Investor member on our website , annual report , and annual business magazine directory .
Complimentary events throughout the year .
Multiple channels of communication ,
INVESTORS
including weekly BizNews e-newsletter and social media recognition throughout the year .
Make an investment in your business and in your community today by becoming a VHEDC Investor !
Apply online at vhedc . com
WHO WE ARE , & WHAT WE DO : The Vadnais Heights Economic Develoment Corporation ( VHEDC ) is a nonprofit organization , established in 1984 by a group of business and city leaders . We serve the northeast metro area as a conduit for business resources at local , regional and state levels for the purpose of facilitating business expansion and retention efforts .
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