It was not originally named Lake Roland, but at one time it was proposed to be.
The Raleigh Land Improvement company was the culprit. Maurice Raleigh purchased the Atsion estate from Colonel William C. Patterson who had organized the Fruitland Land Development Company. After Raleigh acquired the property he apparently had the name of the town changed back from Fruitland to Atsion, but eventually his heirs changed it back again to Fruitland. They formed the Raleigh Land Improvement Company which we have discussed here before, and planned to set up lots and small farms. In that plan a map was drawn and Atsion lake was then designated Lake Roland. The name was never officially changed and with very few sales, that part of the history of Atsion faded quite quickly.
You can read about this in Iron in the Pines on the last 4 pages of the Atsion chapter.
Guy