Lorain National Bank Review
One may not always come across a Lorain National Bank review when looking for one. With Lorain National Bank (LNB), it has always received high marks from some its customers and the Bureau for Better Business has not received a complaint about this institution in the past three years prior. LNB also received a satisfactory CRA rating from the Comptroller of the Currency.
Lorain National Bank is a full-service community bank providing lending, deposit, and investment and trust services to individuals and small-to-medium sized businesses. It also offers free online banking as well as free online bill pay.
Originally founded as the state-chartered Lorain Banking Company in September 30, 1905, it merged with the nationally-chartered National Bank of Lorain to form Lorain National Bank in January 1, 1961. LNB became the wholly owned subsidiary of LNB Bancorp, Inc., headquartered in Lorain, Ohio, on March 30, 1984.
With total assets of $1,158.05 million, LNB has opened new offices in North Ridgeville and southern Elyria, and a business development office in Independence in the past year. Morgan Bank, which has an office in Summit County in Hudson, joined the LNB family in May 2007.
LNB and its Morgan Bank division have 23 retail-banking locations and 29 ATMs in Lorain, eastern Erie, western Cuyahoga, and Summit counties. LNB is a member of the Federal Home Loan Bank of Cleveland and a voluntary member of the Federal Home Loan Bank of Cincinnati. Deposits are insured by the Federal Deposit Insurance Corporation.
LNB CDs have terms from 7 days to 60 months and have a $1000 minimum deposit to earn APY ($10,000 for 7 Day CD and 30 Day CD). Interest is compounded quarterly and paid at your discretion.
Monthly interest payments are available for CDs of $5000 or more. Please visit the most convenient branch nearest you for details about their bank rates on their banking products and services.
With this Lorain National Bank review, we see LNB, an Equal Opportunity Affirmative Action Employer and an Equal Housing Lender, is committed to the communities it serves through a host of community lending, charitable contributions, and volunteer activities.
For additional resources involving financial help, please view Kaiser Federal Bank Online on this website.
We strive to bring you the latest and most accurate data possible from the home sites of the financial institutions we name. Always remember, the bigger the risk, the larger the reward or loss. Invest with caution.
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Lorain Bank Online Banking System May 2012 | Online Banks on
Tue, 1st May 2012 6:04 am
[...] the Lorain Bank electronic banking you can open and use the E-checking account. This totally online banking account will provide you [...]
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