After all these years, we're still a privately held institution. We have 160 shareholders with the majority of our shares of stock being held by four families deeply rooted in our history and traditions: the McPhails, the Smiths, the Hollisters, and the Wengers.
We operated with three offices for 32 years until 1995 when we began to expand. We added eight branches: Irons, Wellston, Reed City, 2 locations in Big Rapids: Downtown and Perry Street, Walkerville, Evart, and Le Roy
Curtis L. Smith in 1979 became President of the bank, while Robert held the positions of CEO and Chairman. In 1987 Curtis retired and his niece (Robert S. Smith's daughter) Deborah Smith-Olson was appointed President-CEO. Robert maintained his role as Chairman until his death.
Robert J. Smith had two sons, Robert S. Smith and Curtis L. Smith. Upon Robert J. Smith's death in 1948, his eldest son Robert succeeded him as president. Curtis remained an active leader within the bank.
After the passing of Cole (1920), the three remaining partners bought his estate's interest and the co-partnership of McPhail, Smith & Hollister continued doing insurance business under that name and banking business as the Lake County Bank. Smith who started as the cashier-janitor in 1908, had now become a partner and was the first in a long line of Smith's to successfully lead the bank.
We were founded by two men, E.L. Cole and C.W. McPhail. In 1911, Robert J. Smith joined the partnership, and in 1917, Howard J. Hollister became the fourth partner in the ownership of the Bank.
Chartered in 1908 we have operated continuously in Lake County. In fact, our main office in Baldwin is located just one block away from the original building.