Our Story

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Our Story

Family-Founded, Privately Held

It's this rich history of involvement and family traditions that truly makes us a community — your community — bank.
Come visit us soon!


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.

Recent picture of bank building

Lake Osceola State Bank today


Image of bank from 1995-2017

Business Center Bank


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.

Recent picture of bank building

Robert Community Support Award


We merged with the Luther State Bank which had a branch in Tustin.

Recent picture of bank building

Luther Bank Lobby Old Style


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.

Father and son

Robert S. Smith

Exterior of the bank in 1950

Exterior 1950


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.

Banking partners group photography

Group Picture McPhail, Hollister, Smith, Cole

Exterior of the bank in 1920

Baldwin Branch Exterior 1920


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.

Exterior of the bank in 1912

Baldwin Branch Exterior 1912


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.

Exterior of the bank in 1909

Baldwin Branch Exterior 1909