Message from the Chairman

Dear Shareholders, Customers, and Friends:

Lakeside Bank opened its first location in 1966 near the Lakeside Press building as one of the first commercial banks serving the south loop. After two forced relocations, we have remained true to our roots by opening a state-of-the-art branch at 1350 South Michigan Avenue. The investment in this branch not only evidences our commitment, loyalty, and service to the south loop, but its size, at 14,000 square feet, plus four drive-thru banking lanes and over thirty free parking spots make it a unique resource to the community. The Bank’s commitment was facilitated by another year of solid earnings and growth which further strengthened its balance sheet. Our net earnings of $ 24.363 million represent nearly a 2% return on average assets and a 15.4% return on equity - outstanding performance by any measure. We finished the year with $ 1.207 Billion in total assets, including $ 1.001 Billion in total loans. Our stockholder’s equity grew from $ 152.3 to $ 158.06 million and our capital ratios are substantially above the regulatory defined “well capitalized” levels with risk-based capital at 16.8% and leverage capital at 13.6%. We have constructed a solid financial foundation and positioned ourselves for future growth.

But, as important as these numbers are, the Bank values its employees as its greatest asset and is pleased to announce a number of key promotions. Stan Bochnowski, who has been an integral part of Lakeside Bank for over thirty years as a senior commercial lending officer and Executive Vice-President, was promoted to Chief Lending Officer. Tim Savoca was promoted from Vice President Credit Officer to Senior Vice-President & Chief Credit Officer, JoAnn Wong from Vice-President to Senior Vice-President Loan Operations, Grace Marcordes to Vice-President from Assistant Vice-President Branch Manager, Nick Wycklendt to Vice-President from Assistant Vice-President of Commercial Lending, John Rogers from Branch Manager to Assistant Vice-President of Business Development, and Jennifer Lee to Commercial Loan Officer from Relationship Manager Commercial Lending. We congratulate all of these individuals and thank them for their contributions.

Many banks say “We Are Chicago” but no institution is more connected to or provides better service to the communities of Chicago than Lakeside Bank. We are a locally owned community bank with nearly $1.3 billion in assets. Our Directors, shareholders and employees are all passionate about how the Bank serves its customers and the communities of this great city. We reinvest all of our deposits into the Chicago communities that we serve to stabilize and nourish them. Our lending expertise extends from the futures and securities industry to builders, developers, and a wide variety of businesses. We understand middle market banking, crafting solutions to help small and mid-size businesses prosper. We are recognized for more than just lending money and accepting deposits because of the customized service we offer. Our officers and employees are truly dedicated to their work and the customers they serve by providing them and the communities in which they live and work with extraordinary service. We are relationship-driven and personalized service will always remain the focus of our business model. On behalf of the Board of Directors, our Executive Committee, and our entire Lakeside Bank team we thank you for your continued support of our vision. We are committed to providing you with the best possible banking relationship and invite you to begin that relationship with Lakeside Bank to begin investing in your future.

Philip D. Cacciatore

Chairman & C.E.O.
Lakeside Bank

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