Bank Branches › Closed and merged banks › Minnesota › Lakeland Federal Savings Bank
What happened to Lakeland Federal Savings Bank?
Lakeland Federal Savings Bank in Detroit Lakes, MN (earlier called Lakeland Federal Savings and Loan Association of Detroit Lakes) failed, and Lakeland Savings Bank, F.S.B. of Detroit Lakes, MN took it over on Mar 16, 1990. After 1 more change of hands, what was Lakeland Federal Savings Bank is today part of First Security Bank - Sleepy Eye (Sleepy Eye, MN).
The chain, step by step
From the day it opened to the bank at the end of the chain today. Each step is one entry in the FDIC's record.
- 1933Lakeland Federal Savings and Loan Association of Detroit Lakes opens in Detroit Lakes, MN
- Jan 31, 1989renamed Lakeland Federal Savings Bank
- Mar 16, 1990FAILEDLakeland Federal Savings Bank failed, and Lakeland Savings Bank, F.S.B. of Detroit Lakes, MN took it over.FDIC certificate 29137 ends; its business continues under certificate 32947.
- Aug 24, 1990RESOLVEDLakeland Savings Bank, F.S.B. of Detroit Lakes, MN was closed in a federal resolution, and its business passed to First Security State Bank of Sleepy Eye, MN.FDIC certificate 32947 ends; its business continues under certificate 5252.
- TodayOPEN
First Security Bank - Sleepy EyeMain office Sleepy Eye, MN · FDIC certificate 5252 · 5 offices in 1 state on June 30, 2026Every First Security Bank - Sleepy Eye office → Website on file with the FDIC: www.firstsecuritybanks.com
If you still have something from Lakeland Federal Savings Bank
A lien that was never released
Lakeland Federal Savings Bank failed on Mar 16, 1990, handled by the Resolution Trust Corporation, the agency that closed failed savings institutions from 1989 to 1995. The FDIC's lien-release page covers failed banks and savings and loans placed in FDIC receivership; it does not say how releases work for resolutions this old.
Call FDIC Resolution Inquiries at 888-206-4662 (8am–4pm Central, weekdays) and ask whether the FDIC holds this institution's receivership. Ask First Security Bank - Sleepy Eye as well: the chain above leads there. The FDIC's own instructions are at FDIC, Obtaining a Lien Release.
An old account, passbook or CD
When a healthy bank assumes a failed bank's deposits, insured depositors become its customers right away (here, Lakeland Savings Bank, F.S.B.). Start with First Security Bank - Sleepy Eye, and ask them to search under the name Lakeland Federal Savings Bank.
This failure is older than the current federal rule on unclaimed deposits (mid-1993), so different rules apply. Search FDIC unclaimed funds search, search the unclaimed-property program of the state of the owner's last known address on the bank's records, and ask FDIC Resolution Inquiries at 888-206-4662 what applies to this institution.
A safe deposit box
The FDIC says that when a healthy bank assumes a failed bank's deposits, the branches usually reopen the next business day with box access. Today, ask First Security Bank - Sleepy Eye. A box abandoned for years may have been turned over to the state's unclaimed-property program.
Box contents are not covered by FDIC insurance.
Not sure this is your bank?
Many banks shared a name. Match the city and the years above against your paperwork, or search again with the town.
Credit unions were never FDIC-insured and are not in this record; the NCUA credit union lookup covers those. Banks that closed before about 1970 are not in the FDIC's list either.
One caution: banks also sell single branches. If the office you used was sold to a different bank along the way, the account went with the branch, not with this chain.
This page is drawn from FDIC records and federal guidance. It is not legal advice, and BankBranches is not a bank or a government office. More detail: lien releases · old passbooks and CDs · safe deposit boxes · unclaimed money.
Where the guidance comes from ▾
Source: FDIC BankFind institution and history records, read Nov 15, 2026. The FDIC's list covers banks that ended in about 1970 or later. Look up certificate 29137 in the FDIC BankFind Suite to see the government's own entry. Corrections: me@byclaude.net.