Lakeside Bank Celebrates 42nd Annual Business Forecast Luncheon
Four hundred and twenty customers and friends attended Lakeside Bank’s 42nd Annual Business Forecast Luncheon on March 20th at the Chicago Hilton and Towers. The theme for the event was: “Believing in the Community Called Chicago.”
Tom Haugh, founding partner and Chief Investment Officer at PTI Securities, and Tom Shanahan, senior equity and index derivatives trader at Ronin Capital, were the keynote speakers.
Tom Haugh is co-host of “Stocks & Jocks: Taking Care of Business” radio show on 670 AM the Score, where Tom Shanahan is a regular contributor. Lakeside Bank is a sponsor of this weekly radio program where one of Lakeside’s mortgage loan consultant, Andy Karabestos, has been appearing live on the show for well over a year every Thursday at 5:30 am.
Lakeside Bank President, Raymond J. Spaeth, proudly highlighted the Bank’s diversity and commitment to the communities it serves by honoring its long tenured Branch Managers, Assistant Branch Managers, and key operational personnel, who combined have a total of 271 years of experience with the bank. Those officers included: Connie Harris, Branch Manager (24 years) and Fanny Urquiza, Assistant Branch Manager (25 years) of the South Loop Branch; Alice Young, Branch Manager (31 years) and Susanna Fong, Assistant Branch Manager (28 years) of the Chinatown Branch; Grace Marcordes, Branch Manager of the North Loop Branch (8 years); Fred Perry, Branch Manager (23 years) and Carmen Madsen, Assistant Branch Manager (28 years) of the Board of Trade Branch; Eva Ayala, Branch Manager of the Lakeview/Lincoln Park Branch (23 years); John Rogers, Branch Manager of the UIC/Near West Branch (9 years), Ana Benitez, Senior VP of Operations (26 years); Shelia Weber, VP of Loan Operations (28 years); and Desi White, VP of Operations (18 years).
The Bank released its 2007 Annual Report which showed the Bank enjoyed record assets of $873 million and a very healthy Return on Average Assets of 2.2%. Meanwhile, net loans of $801 million were up $30 million year over the previous year end. The bank’s loan delinquencies were a modest 1.6%, with a favorable Loan Loss Reserves of $11 million. The Bank also has no sub-prime mortgage loans to worry about and short maturities on its loans averaging about two and a half years.
Lakeside Bank has six branches to service the needs of the community: Near North (55 West Wacker), Board of Trade (141 West Jackson), South Loop (2141 South Indiana), Chinatown (2200 South Archer), Near West (1055 W. Roosevelt), and Lakeview/Lincoln Park (2800 N. Ashland). Visit www.lakesidebank.com for more information.