Lakeside Bank named one of nation’s safest banks | Business

The following is a Press Release from Lakeside Bank:

Lakeside Bank was recently named one of the 359 safest banks in the United States. The locally owned bank was the only bank in Southwest Louisiana to receive the designation and one of only three financial institutions in the state of Louisiana to make the list.

The list, released this month by MSN Money, was compiled using a system called the Texas Ratio which accurately predicted bank failures in Texas during the 1980s recession and again in New England during the 1990s recession. Researchers evaluated all banks in the country – over 7300 -  and applied this stringent formula to evaluate the safety of each.

“This is really quite an honor and achievement for us,” said Mike Harmison, President/CEO of Lakeside Bank. “In a day and age where the banking industry as a whole has faced scrutiny and loss of trust, it should be comforting to our friends and neighbors to have a locally-based bank ranked as one of the safest in the country.”

Lakeside Bank opened in 2010 and was the nation’s only new bank to receive a charter that year with the exception of three others that were set up specifically to save failing banks. Earlier this year, their new main branch opened on Nelson Road in South Lake Charles.

For more information, visit www.lakesidebanking.com or call (337) 474-3766.