Lake Central Financial, Inc. was started in December of 2009 by the then current owners of the Annandale State Bank, which was started way back in 1893. Given the complex banking regulations, there are advantages for banks to be owned by a Bank Holding Company rather that being owned by individuals. As a result, the owners of Annandale State Bank decided to start a Bank Holding Company and on March 10, 2010 the transaction was completed. At that time, each shareholder of Annandale State Bank traded their shares of bank stock for shares of Lake Central Financial, Inc. In the end many of the shares of Lake Central Financial are still owned by descendants of the original owners from 1893. See the Annandale State Bank's website at www.annabank.com for a more detailed accounting of our banking history.

In September of 2011 Lake Central Investments was launched when we formed a partnership with Cetera Investment Services, a brokerage firm located in St. Cloud Minnesota. John Volden was hired to lead his division of our company and can assist our clients with financial advice as well as sell them non FDIC insured products, like mutual funds, Stocks, Bonds and annuities.

On January 1, 2012 our three individual insurance businesses (Annandale State Agency, Security State Agency of Maple Lake, and Clearwater State Agency) were consolidated and rebranced as Lake Central Insurance Services. Paul Manuel, continues to lead this division of our company with the help of the same staff at each of our three locations.