Welcome to the Lakeside Family. For more than fifty years, we’ve built relationships.
Internally by giving our employees the authority to make decisions for their clients. Externally by providing our clients with customized service with impressive speed. This combination of responsibility, tailored products and urgency means both personnel and clients stay with Lakeside for decades. Even generations.
Yes, we’re a bank. But it becomes more than business when you work with folks for as long as we do.
Message From The Chairman
2020 Financial Summary
Dear Shareholders, Clients, Neighbors and Friends,
There are moments in history that define us. The financial crisis of 2008. And just last year a pandemic and social upheaval. Throughout 2020, we faced the unknown and remained strong, persevering again with our clients … together, offering $180 million in expeditious paycheck protection program application approvals.
During the most adverse times in life, we all need the fortitude of a bank that is responsive, with strength in its balance sheet.Lakeside is a proven model and partner. Choosing us … well, is an epiphany for many. New clients are amazed at how we serve them. And how we work together.
I’m very proud to report Lakeside Bank surpassed every challenge in 2020. Every Lakesider has my appreciation, respect, and thanks. Both individual efforts and Lakeside teamwork, day after long day, was outstanding. Our industry leading client service never skipped a beat. And not a single Lakesider was laid off or furloughed. 2020 confirmed how precious family, friends, colleagues, and clients truly are. Human connections and time are what life is about.
In an age of increasing automation, and one where most people rarely talk to the same banker twice, Lakeside is a client-pleasing anomaly. Old School where it counts. High Tech throughout.
Sure, we can do virtually anything the big banks can do electronically. But at Lakeside, technology is a tool, not a way to treat clients. Meaning we remain hands-on. True Personal Bankers. Our clients have one banker. One point of contact. For years. Decades. We innovate for our clients. We customize programs for our clients. We make decisions quickly for our clients. And the result is, well, RESULTS. And recognition. We’re sort of a now 55-year-old “overnight success”. Thanks to our people and the success of our clients.
Lakeside’s Growth in 2020 Continued – Financial Summary
Reflecting our efforts, and client trust, 2020 financial results were strong. We also planned conservatively, building significant reserves. Key indicators from our 54th year:
Net core earnings of $28.6 million represents a 1.38 return on average assets and a 13.55 return on equity. The year ended with $2.2 billion in total assets, up 17% from year-ago. This includes $1.6 billion in total loans. Stockholder equity grew from $210.1 million to $211.4 million. In keeping with tradition, our capital ratios remain significantly above regulatory “well capitalized” levels.
The Road Ahead
Even before the various stimulus and investment programs, the economy was poised for take-off. The pent-up demand for entertainment, dining out, travel, home purchases and white goods is dramatic. Positive spending and employment trends continue. Barring unexpected setbacks, it will accelerate.
Our long-term plans remain unique for Chicago banks. Confident in the future, we continued planning Lakeside growth in 2020. And the result is three new Lakeside branches. While other banks are shrinking, Lakeside Bank is carefully growing.
Our Oakbrook Terrace branch opened June 2021. Bridgeport in July. Park Ridge joins them early 2022. These are gorgeous, full-service banks. With drive-throughs. We don’t do tiny store fronts with an ATM and a video screen. That’s not Lakeside. That’s not a relationship. We hope you’ll visit our new branches, soon.
Other Notable 2020 Achievements
To better serve our clients, we put three simple programs in place. First, during business hours our phones are answered by a Lakeside Banker. A professional with knowledge and experience who can help immediately. No operators. No call centers. Second, all our tellers are Lakeside Bankers. Whether using a Lakeside lobby or drive through, you have a Lakeside Banker. Third, we added a ‘live chat’ function to our website. So, questions can be asked and answered right away. And again, we staff it with, you guessed it, Lakeside Bankers.
These may seem like small steps. They’re not. They reinforce our commitment to connecting with and serving our clients. And you won’t find them at most other banking institutions.
The Paycheck Protection Program (PPP) literally required an “all hands-on deck” team effort. Even our most senior officers rolled up their sleeves (or pulled up their sweatshirt sleeves when working from home) and got PPP done for clients. And non-clients. Our personal approach made the system work to our clients’ advantage. We didn’t just file electronically. We engaged. I was gratified to see how many businesses we could help.
Treasury Management is now live with the Lakeside Bank FX+ platform, a global payments platform built to help commercial clients save time and money when sending funds internationally. The Lakeside Bank FX+ user-platform ensures funds reach their destination faster and more securely, providing welcome reassurance to our clients.
We continue to upgrade our web based & mobile banking platforms (both consumer and business) with more powerful and easy to use systems. For example, recent commercial online banking improvements have created a more streamlined interface for payments, reports and integration within customer account and ERP software.
The Residential Mortgage Department had another record year in 2020. Despite the pandemic and limited real estate inventory for sale, the Lakeside Bank Team increased both closed transactions and dollars funded.
Mortgage rates remained low which helped fuel our refinance business. A bright light in 2020 was the number of new clients drawn to the bank. New partners too; realtors, builders and CPA’s / Financial Planners who are sending us their clients. Our personal service reputation continues to spread.
Our 2020 Marketing maintained brand awareness through intensified social media and email campaign plus select advertising. We also continued support for many charitable organizations, who so badly needed assistance in 2020.
In May of 2021, we returned to Chicago market advertising with new “Lisa & Phil” radio commercials. As always, each spot addresses a single consumer or business banking service or product, with Lakeside the answer. The work is unique for the banking industry, memorable and highly competitive. And we continue to own the “Call to the Pen” pitching change with both the Chicago Cubs and the White Sox. Our “It’s about time” tagline exactly fits what the viewer is thinking so the brand and advertising recall has proven outstanding. There is also sustained social media, email, and newspaper advertising. And we have significant support for the new branches via billboards, local newspaper, and targeted direct mail & email.
We’re confident the world will continue to recover from the health, social & economic challenges we’ve faced. Lakeside is on a dramatic growth trajectory. 2021 will be an exciting year. We look forward to deepening client relationships … and adding many new ones.
Sincerely,
Philip D. Cacciatore
Chairman & Chief Executive Officer
Lakeside Since 1999
Lakeside Bank is a leading, independent community bank that specializes in serving small and medium sized businesses in Chicago. By applying vigilance and utilizing superior business intelligence, we seek to create, identify and serve niche markets consistent with our expertise. We are committed to provide personalized service beyond the expectations of our customers by developing and leveraging close, long-term relationships. We will optimize shareholder value. We retain a knowledgeable employee base and strive to provide a fulfilling and supportive environment.
About Us
Our History
For 50 years, Lakeside Bank has grown community-by-community. By nurturing and remaining loyal to the businesses and consumers in our neighborhoods, we’ve always been financially strong. Beginning in 1966 in the South Loop, we now have seven branches and assets over $1.4 billion. We’ve grown carefully and responsibly, one client, one neighborhood, at a time.
About Us
Annual Reports
To view an Annual Report using a PDF reader, click on any of the links below. If you do not have a PDF reader, you can download one here.
Lakeside Bank has an outstanding core of career Bank Officers that are dedicated to the goal of assuring that you and your business have an exceptional banking experience. With an average tenure of 19 years at Lakeside Bank, our Officers’ comprehensive banking expertise results in our ability to focus on customer care, utilize technology to make the banking process easier, provide quick loan approvals and closings, solve problems quickly and operate the bank in an effective and secure manner.
We encourage you to contact one of our Officers to discuss the many advantages of Lakeside Bank.
Philip D. Cacciatore
Chairman of the Board & Chief Executive Officer
David V. Pinkerton
Vice Chairman & President
Stan J. Bochnowski
Executive Vice President & Chief Lending Officer
Todd G. Monte
Executive Vice President & Chief Financial Officer
Daniel Welz
Executive Vice President & Chief Operating Officer
Jeff W. Miller
Senior Vice President & Chief Information Officer
Alan L. Rose
Senior Vice President & Chief Marketing Officer
Tim Savoca
Senior Vice President & Chief Credit Officer
Joshua Coburn
Senior Vice President, Commercial Lending
Michael Fogarty
Senior Vice President, Commercial Lending
Ken Kosin
Senior Vice President, Commercial Lending
James McGrogan
Senior Vice President, Commercial Lending
Pat McNulty
Senior Vice President, Director of Human Resources
Tim Millins
Senior Vice President, Retail Network
Justin Newhuis
Senior Vice President, Commercial Lending
Matthew Palmisano
Senior Vice President, Director of Treasury Management
Janet Rendon
Senior Vice President, Loan Administration
Nicholas Wycklendt
Senior Vice President, Commercial Lending
Allan Adaya
Vice President, Market Manager
Erik Ambrus
Vice President, Business Banker
Eva M. Ayala
Vice President, Market Manager
Maria Baez
Vice President, Retail Support Officer
Grace Demes
Vice President, Market Manager
Angela Florida
Vice President & Market Manager
Anthony Fong
Vice President & Controller
Susanna L. Fong
Vice President & Branch Manager
Lisa Formanski
Vice President & Compliance Officer
Roman Hernandez
Vice President, Market Manager
Robert Hollis
Vice President & Retail Branch Sales Manager
John Jasinski
Vice President, Business Banker
Ania Kozak
Vice President, Market Manager
Juanita Lazzerini
Vice President, Retail Mortgage Loan Operations
Jennifer (Tian) Lee
Vice President, Commercial Lending
Christopher Manley
Vice President, Commercial Lending
Robert Matijevich
Vice President, Commercial Lending
Tara Nerko
Vice President, Market Manager
Todd Probasco
Vice President, Retail Mortgage Sales Manager
John H. Rogers III
Vice President, Market Manager
Aniceto Ron
Vice President, Information Systems & Sr. Network / Systems Engineer
Purchasing a home is often the largest financial decision people make. Which is why it’s so important to have an experienced mortgage loan officer on your side. Todd takes such precise and personal care of his clients throughout the mortgage process he constantly gets referrals from those very happy clients! Todd is highly knowledgeable about Chicago real estate but has also helped clients get outstanding mortgages across the country. Todd’s a multiple award winner for his personal service and the results he achieves. Todd can be contacted at: Cell: 708.205.2983 Email: t.probasco@lakesidebank.com
NMLS# 232536
Andy Karabetsos
Andy Karabetsos is a Mortgage Loan Consultant at Lakeside Bank that has the experience to get your loan closed in today’s difficult lending environment. He brings over 20 years’ experience, 14 of them at Lakeside Bank. His understanding of the self-employed borrower is what makes him stand out from the rest of the pack. Although rate is important, getting your loan closed and on time is vital as well. Contact Andy at 312-808-5862/office, 312-607-0038/cell or email him at akarabetsos@lakesidebank.com
NMLS ID# 757269
Bryan Keane
Buying your first home, an investment property or refinancing a current mortgage? The process may seem daunting. Lakeside Bank and Bryan Keane makes the complex … easy. Bryan will be with you from start to finish. And he’ll work with you at times and places convenient for you. Lakeside and Bryan also provide services for anywhere in the country! Bryan is a native Chicagoan with 25+ years of progressive financial services experience. His diverse background of expertise across entrepreneurial, boutique and Fortune 500 firms working with clients in complex financial transactions puts him in a unique position to originate mortgages. He excels at walking his customers through difficult-to-understand transactions, translating the process into easy to understand language. Contact Bryan to begin your home financing. You can reach him directly at: (312) 399-6228 | Email: bkeane@lakesidebank.com
NMLS# 1828705
James Pomposelli
NMLS# 266794
In addition to providing competitive pricing, great execution and next level service for home purchases and mortgage refinances, Jim also has mastered the complexities of renovation, rehab and new construction finance. After 12 years in investment banking working with Fortune 100 companies, Jim applies the same level of professionalism, integrity, and customer service to his clients whether it is a $1 million refinance for a CEO or a $250,000 purchase loan for a new home buyer. Most of all, Jim personally serves all his clients’ mortgage needs and is available 24/7 to make the mortgage process as smooth as possible. Jim can be contacted at: Cell: 312.339.0024 Email: j.pomposelli@lakesidebank.com
Phil serves as Chairman of the Board and Chief Executive Officer for Lakeside Bank and has been with the bank since 1992.
Phil graduated from DePaul University with a BS in 1994 and received his JD degree from DePaul in 1999. He also graduated from Stonier Graduate School of Banking at Georgetown University in 2002.
Phil was appointed by the governor to the Illinois State Banking Board in 2004 and served for 10 years. He remains an active director on the following boards: Jos. Cacciatore & Co Real Estate, Jos. Cacciatore & Co. Insurance, Elgin Sweeping Inc. and Hunter Parking. He is also President of Lakeside Bancorp (Lakeside Bank’s Holding Company). Phil is also an instrument rated FAA certified pilot.
David V. Pinkerton
David is the Vice Chairman and President of Lakeside Bank and is a member of the Executive Committee. He is a Senior Lending Officer and is focused on business development with an emphasis on business banking and commercial real estate lending. David is also the Vice President of Lakeside Bancorp (Lakeside Bank’s holding company).
His career in banking started at Lakeside in 1989 and he’s been an integral party of the bank ever since. David holds a BS and MBA from the University of Wisconsin at Madison. He is active in various community organizations including Concordia Place, which provides affordable child care and family services to low income families and 3Arts, which offers unrestricted grants to Chicago area artists.
Anthony Iaderosa
Anthony founded eSutures.com in 2000. The company specializes in helping health care facilities to streamline their supply management process by liquidating non-moving inventory to his website, then buying the devices they need on a “just in time” basis.
Anthony graduated from University of Illinois, Champaign Urbana in 1994 with a BS in Biology. Anthony then set off on a successful career in medical sales. After working for medical device companies, Anthony identified inefficiencies in the supply chain and used his entrepreneurial spirit to create eSutures.com. His company has helped firms worldwide save millions of dollars a year on surgical devices and products.
Anthony has served The Lakeside Bank Board of Directors since early 2015.
Mark T. O’Toole
Mark is an attorney and a founding partner of the law firm, Foran, O’Toole & Burke, LLC. He and his partners have built a multi-state practice and national reputation as champion of property owners’ rights. Foran, O’Toole & Burke, LLC represents the owners of commercial, industrial and special use properties in states across the country and represents corporate clients such as, Prologis, CenterPoint Properties, Waste Management, UPS, McDonald’s, Simon Property Group and Ozinga, Inc.
A lecturer on eminent domain, condemnation and property rights, Mark has also authored multiple articles on related subjects.
Mark is also an active real estate investor, acquiring and developing commercial properties, many of which required extensive remediation, rezoning and repositioning before being successfully completed and sold.
Mark did his undergraduate work at Miami University and received his J.D. from Loyola University. A former law clerk to Justice William G. Clark of the Illinois Supreme Court, Mark was also Staff Counsel to the Speaker of the Illinois House of Representatives. He is a longstanding member of the Board of Directors of Easter Seals of Metropolitan Chicago. He has served as Vice Chairman of the Board, and is currently a member of the Executive Committee and Chairman of the Development Committee. Mark has been a member of the Lakeside Bank Board of Directors since 2021.
Peter C. Cacciatore
Peter Cacciatore is President of Jos. Cacciatore &Co. Real Estate, where he began as a property manager in 1977. He also serves as President of Hunter Parking Inc; a Chicago based company that has served the parking needs of the Chicagoland Area for over two decades
Peter is a member of the National Association of Realtors, Chicago Association of Realtors, Mortgage Banks Association of America, and the International Council of Shopping Centers. He serves on the Board of Directors for the Near South Planning board, and has invested in a significant parcel of real estate in the South Loop area. He is also Chairman of the “Kids and Cops Walk” for the Chicago Patrolman’s Association.
Peter has served on the Board of Directors for Lakeside Bank since 1999.
Todd Monte
Todd is Lakeside’s Chief Financial Officer and leads the internal audit function. He is responsible for a wide range of responsibilities to assure the effective administration of the bank. He also oversees the lockbox, loan operations, payment processing information systems and compliance functions.
Todd joined Lakeside in 1996. He has undergraduate and graduate degrees from DePaul University. Todd was appointed to the Executive Committee in 2000. Todd has been a member of the Lakeside Bank Board of Directors since 2021.
Daniel P. Leahy
Dan Leahy is an Executive Vice President and Partner at NAI Hiffman, specializing in assisting industrial users and owners with their real estate strategy and implementation. Dan is also the Founder and Managing Director of NAI Global Logistics.
Dan has expertise in all aspects of corporate real estate, having completed over 600 transactions totaling in excess of $2 billion in volume and is recognized as one of the country’s top industrial brokers. Dan has been nominated for the Chicago Industrial Broker of the Year Award eight times and has won the coveted award four times. He is a member of the board of directors for NAIOP Real Estate Development Association. In addition, Dan has received the NAIOP Industrial Transaction of the Year Award four times.
Dan has served on the Board of Directors at Lakeside since 2013.
Stan J. Bochnowski
Stan is an Executive Vice President of Lakeside and also serves as a member of the Executive Committee and Board of Directors. He is the Chief Lending Officer, responsible for oversight of all commercial and residential lending activities at the bank.
Stan joined Lakeside in 1983. He has a Bachelor’s degree from Purdue University and is a member of the Chicago Board of Realtors, Chicago Home Builders Association and Illinois Mortgage Banker Association. He also is a Director to the following organizations: Hong Kong Club, Valentine Boys & Girls Club of Chicago, Near South Planning Board, Southside Builders Association and the Chinatown Chamber of Commerce.
George C. Pappageorge
George has spent over three decades working to enhance our nation’s cities, while fostering public awareness and appreciation for architecture. Early in his career, he worked in Chicago as a designer and urban planner.In 1981, he opened his own firm with David Haymes; leading extensive projects such as City Commons, Embassy Club, and Willow Court.
George is a licensed architect in 14 states and is currently principle-in-charge on large-scale planning and significant residential, mixed-use and retail projects throughout the United States.At the age of 39, he was one of the youngest members to be elevated to the American Institute of Architects College of Fellows.
Over the years, George has lectured at numerous institutions and societies and has served on many design juries. His achievements have been published internationally and have been featured in numerous exhibitions. He has served on the Board of Directors at Lakeside since 2004.
Joe Liberti
Joe currently is the Senior Regional Manager for Cintas Corporation, responsible for designing and providing protective apparel programs for companies across North America. Joe has been with Cintas since 1995, winning their prestigious “President’s Club” annual award for new business development 20 times.
Joe is an experienced real estate investor and developer in the Chicago market. His background in real estate involves multi-family acquisition and management, zoning modification, and over 20 years of experience in the Chicago residential market.
Joe is a graduate of Lewis University with a degree in Marketing. He has served on the Lakeside Bank Board of Directors since 2021.
John P. Davey
Since being admitted to the Bar of Illinois in 1962, John Davey has accumulated over five decades of experience and wisdom in real estate law. He has served on The Illinois Mortgage Bankers Association, Mortgage Bankers of America, The Federal National Mortgage Association and taught real estate finance at DePaul University College of Commerce.
Currently, John offices with Gerstner & Gerstner, concentrating on the areas of real estate, mortgage financing and commodity futures trading exchanges. He graduated with a B.A from University of Chicago, followed by a J.D. from University of Chicago Law School. He is an active board member of the U of C alumni association and spends much of his free time working to better the University community.
John has been on the Board of Directors at Lakeside Bank since 1994.
Dan Welz
Dan is the Executive Vice President and Chief Operating Officer for Lakeside Bank and is a member of the Executive Committee. In addition to managing Lakeside’s Retail Operations, Dan oversees the bank’s Retail Branch Network, Human Resources, Regulatory Compliance, Project Management Office, Vendor Management and Retail Support Office. Dan has over twenty six years of banking experience, eleven of which was spent at The Federal Reserve Bank of Chicago. Dan earned a bachelor’s degree in Finance from Valparaiso University and his MBA from Loyola University. Dan has been a member of the Lakeside Bank Board of Directors since 2021.
Phil serves as Chairman of the Board and Chief Executive Officer for Lakeside Bank and has been with the bank since 1992.
Phil graduated from DePaul University with a BS in 1994 and received his JD degree from DePaul in 1999. He also graduated from Stonier Graduate School of Banking at Georgetown University in 2002.
Phil was appointed by the governor to the Illinois State Banking Board in 2004 and served for 10 years. He remains an active director on the following boards: Jos. Cacciatore & Co Real Estate, Jos. Cacciatore & Co. Insurance, Elgin Sweeping Inc. and Hunter Parking. He is also President of Lakeside Bancorp (Lakeside Bank’s Holding Company). Phil is also an instrument rated FAA certified pilot.
David V. Pinkerton
David is the Vice Chairman and President of Lakeside Bank and is a member of the Executive Committee. He is a Senior Lending Officer and is focused on business development with an emphasis on business banking and commercial real estate lending.
His career in banking started at Lakeside in 1989 and he’s been an integral party of the bank ever since. David holds a BS and MBA from the University of Wisconsin at Madison. He is active in various community organizations including Concordia Place, which provides affordable child care and family services to low income families and 3Arts, which offers unrestricted grants to Chicago area artists.
Dan Welz
Dan is the Executive Vice President and Chief Operating Officer for Lakeside Bank and is a member of the Executive Committee. In addition to managing Lakeside’s Retail Operations, Dan oversees the bank’s Retail Branch Network, Human Resources, Regulatory Compliance, Project Management Office, Vendor Management and Retail Support Office. Dan has over twenty six years of banking experience, eleven of which was spent at The Federal Reserve Bank of Chicago. Dan earned a bachelor’s degree in Finance from Valparaiso University and his MBA from Loyola University.
Todd Monte
Todd is Lakeside’s Chief Financial Officer and leads the internal audit function. He is responsible for a wide range of responsibilities to assure the effective administration of the bank. He also oversees the lockbox, loan operations, payment processing information systems and compliance functions.
Todd joined Lakeside in 1996. He has undergraduate and graduate degrees from DePaul University. Todd was appointed to the Executive Committee in 2000.
Stan J. Bochnowski
Stan is an Executive Vice President of Lakeside and also serves as a member of the Executive Committee and Board of Directors. He is the Chief Lending Officer, responsible for oversight of all commercial and residential lending activities at the bank.
Stan joined Lakeside in 1983. He has a Bachelor’s degree from Purdue University and is a member of the Chicago Board of Realtors, Chicago Home Builders Association and Illinois Mortgage Banker Association. He also is a Director to the following organizations: Hong Kong Club, Valentine Boys & Girls Club of Chicago, Near South Planning Board, Southside Builders Association and the Chinatown Chamber of Commerce.
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