Lake State names new president, CEO

Lake State Federal Credit Union welcomes Tim Smith as the new President and CEO who is replacing the retiring Tom Olson.

Lake State Federal Credit Union welcomes Tim Smith as the new President and CEO who is replacing the retiring Tom Olson.

Smith had been with the National Bank of Commerce since 2001 as their Senior Vice-President of Retail Lending. His main focus was on the administration of their retail lending program for the over $550 million financial institution.

Smith started in the banking industry in 1979 for First Federal Savings and Loan in Duluth. He is a graduate of Esko High School and has a Bachelor of Applied Science Degree from the University of Minnesota.

He has been involved with many civic organizations including a Board of Director for the Duluth Regional Care Centers, was a member of the Arrowhead Builders, Duluth Area Association of Realtors and both the Duluth and Hermantown Chambers as well as a past president of the Lester Park Hockey Association.

Smith has lived in Hermantown for the past 11 years as a single father raising his two sons, Jacob and Daniel. Now the lights of his life are his two grandchildren Brooklyn, 3 ½ and Masyn, 9 months.

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