Question 1

What is Lamont Bank of St. John?

Accepted Answer

Lamont Bank of St. John is a small, community-focused agricultural bank serving the rural Whitman County area in eastern Washington. With approximately $61 million in assets and a single office location, the bank specializes in agricultural lending and provides traditional banking services to farmers, ranchers, and residents of St. John and surrounding communities in the Palouse region.

The bank operates as a state-chartered commercial bank supervised by the FDIC. As of the most recent data, the bank reported a net loss, reflecting challenging operating conditions for small rural banks in agricultural communities.

Question 2

When was Lamont Bank of St. John founded?

Accepted Answer

Lamont Bank of St. John was founded in 1908, establishing itself during the early 20th century when the Palouse region was experiencing significant agricultural development. The bank has served the St. John community for over 115 years, maintaining its commitment to local agricultural banking through multiple economic cycles.

The bank's name reflects its ties to the local community of St. John, Washington, where it has continuously operated throughout its history. Its longevity demonstrates the institution's deep roots in the agricultural economy of Whitman County.

Question 3

Where is Lamont Bank of St. John headquartered?

Accepted Answer

Lamont Bank of St. John is headquartered at 6 E Front Street in Saint John, Washington. Saint John is a small farming community located in Whitman County in the heart of the Palouse agricultural region of eastern Washington.

The bank's single office serves as both headquarters and the only branch, typical of small community banks focused on a specific geographic area.

Question 4

Where does Lamont Bank of St. John operate?

Accepted Answer

Lamont Bank of St. John operates exclusively in the Pullman, Washington micropolitan statistical area, serving Whitman County and the surrounding Palouse region. The bank's single office in St. John positions it to serve the agricultural communities spread throughout this wheat-growing area.

While the bank maintains only one physical location, it serves customers throughout the rural farming communities of southeastern Washington. The bank employs six people dedicated to serving local banking needs.

Question 5

What services does Lamont Bank of St. John offer?

Accepted Answer

Lamont Bank of St. John provides traditional community banking services with a strong emphasis on agricultural lending. The bank offers personal and business checking accounts, savings accounts, time deposits, and various loan products designed for the agricultural sector.

Agricultural lending forms the core of the bank's business, supporting farmers and ranchers in the Palouse wheat-growing region. The bank also provides consumer loans, real estate loans, and commercial financing for local businesses. Given its small size and agricultural focus, the bank emphasizes personal service and understanding of farm economics.

Question 6

What makes Lamont Bank of St. John unique?

Accepted Answer

Lamont Bank of St. John stands out for its specialized focus on agricultural banking in one of America's premier wheat-growing regions. The bank's commitment to serving a single small community for over a century reflects the traditional model of community banking where relationships and local knowledge are paramount.

The bank's agricultural specialization allows it to develop deep expertise in farm lending and understanding the unique financial cycles of agricultural operations. As one of the few remaining independent banks in rural eastern Washington, it provides an alternative to larger regional banks.

Question 7

What type of financial institution is Lamont Bank of St. John?

Accepted Answer

Lamont Bank of St. John is a state-chartered commercial bank with agricultural specialization, operating as a Fed nonmember bank under FDIC supervision. This charter type means the bank is organized under Washington state banking laws.

As a state-chartered commercial bank with agricultural specialization, the institution focuses on providing banking services tailored to the needs of farmers and agricultural businesses. This classification reflects both its legal structure and its operational focus on serving the agricultural economy of the Palouse region.

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About Lamont Bank of St. John in the United States