Message from the Chairman
At the end of 2013 Lakeside Bank lost its leader, Victor J. Cacciatore, after losing his battle with cancer on December 30, 2013. September 30, 2013 marked the 20th year anniversary of the purchase of Lakeside Bank by a group led by him as Chairman & CEO, but my father’s involvement with Lakeside began much earlier. I often reflected on the memorable story of how his involvement with Lakeside began. In the late 1960’s a banker by the name of Ray Spaeth working for Lakeside Bank (whose own father founded the bank in 1966) walked into Victor J. Cacciatore ’s old law office in Bridgeport to make a cold call. This prospect was then a real estate investor, zoning attorney, entrepreneur, deeply involved with his alma maters Mount Carmel High School and DePaul University. Not only did that cold call evolve into a customer relationship with Lakeside Bank but eventually turned into a directorship for my father on Lakeside’s board. The relationship that my Father had with Ray and the bank flourished in every way possible. According to Ray’s testimony, my father referred more business than any other director on that board. When R.R. Donnelly, then the bank’s owner, decided to sell it in 1993, my Father and Ray saw an opportunity to purchase it. Without Ray’s cold call, without my father’s willingness to listen to him, without the relationship that developed that memorable day, Lakeside Bank would not be what it is today. This story encapsulates the importance of personal relationships with others at Lakeside; in business and in life, has always been indelibly impressed on my mind. My father emphasized to me from a very early age that all great endeavors require hard work and education but also, most importantly, great people. He always advised treating employees as family and surrounding yourself with strong personal relationships, “The key to this business is our personal relationships.”
2013 was a year of record earnings which allowed the bank to further strengthen its balance sheet. Lakeside Bank has never been stronger with its margins, capital ratios, and loan loss provisions at record levels. We have built upon a solid financial foundation and positioned ourselves for growth. We have many exciting new developments in process, none of which is more important than the relocation of our Indiana Avenue branch to 14th & Michigan Avenue which we hope to occupy as a new full service state-of-the-art facility by the end of 2014. The bank implemented its succession plan in the fourth quarter of 2013 with my election as Chairman and CEO and the election of David Pinkerton to the offices of President and Vice-Chairman. David has been with the bank for over 24 years serving as a member of the executive committee and a senior commercial lending officer. He succeeds Donald Anderson who served the bank for over 11 years most recently as its as President & COO. I am happy to report he will stay on as a member of its Board of Directors. Stan Bochnowski, who has loyally served Lakeside for over 30 years as a senior commercial lending officer and Executive Vice-President, has also been elected to serve on the board.
Many banks say “We Are Chicago” but, in truth, no institution is more connected to or provides better service to the communities of Chicago than Lakeside Bank. The bank’s roots run deep into Chicago’s soil where it was founded in 1966 on the near south side. Our clients, shareholders, and employees are all passionate about how Lakeside Bank serves businesses and this great city. Lakeside Bank is a locally owned, $ 1.1 billion community-oriented bank. The bank reinvests all of its deposits back into the Chicago communities we serve, to stabilize and nourish them in every way. Our lending expertise extends from the futures and securities industries to builders, developers, property owners and all types of businesses. We understand middle market banking and we craft solutions to help small and mid-size businesses prosper. But we are recognized for more than just lending money and accepting deposits. Our officers and employees are dedicated to their work and the customers they serve providing them and the communities in which they live and work with extraordinary service. We are relationship-driven and personalized service will always be the cornerstone of our bank. We are passionate about Lakeside Bank and 100% committed to its success.
So, on behalf of the board of directors, our executive committee, officers, employees and shareholders we thank you, our present and prospective customers, for your continued support of Lakeside Bank. Without you none of our success would have been possible. At Lakeside Bank we are committed to “Investing In Your Future”. We are committed to earning your business. Begin a relationship with Lakeside Bank and begin investing in the future.
Philip D. Cacciatore
Chairman & C.E.O.