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North Shore Bank is a state-chartered mutual savings bank headquartered in Brookfield, Wisconsin. Founded in 1923, North Shore Bank serves consumers and businesses through 43 offices in eastern Wisconsin and northern Illinois. With assets over $2.5 billion and $332 million in net worth, the bank is considered “well capitalized” according to bank regulations.

Statement of Financial Condition

September 30, 2023 (In Thousands)

Assets

  Cash and Investments $579,912
  Loans Receivable 1,883,682
  Federal Home Loan & Banker's Bank Stock 8,040
  Premises and Equipment 54,907
  Other Assets 50,597
Total Assets $2,577,138
     

Liabilities

  Deposits $2,037,125
  Borrowed Funds 150,000
  Escrow 23,697
  Other Liabilities 33,514
Total Liabilities $2,244,336
Net Worth $332,802
Total Liabilities and Net Worth $2,577,138

Statement of Operations

September 30, 2023 (In Thousands)

Interest Income

  Interest on Investments $26,523
  Interest on Loans 79,041
    $105,564
     

Interest Expense

  Interest on Deposits $12,738
  Interest on Borrowed Funds 1,795
    $14,533
     
Net Interest Income $91,031
     

Non-Interest Income

  Service Charges and Fees $14,219
  Gain on Sale of Loans 366
  Other 1,169
    $15,754
     

Non-Interest Expense

  Salaries & Benefits $44,868
  Occupancy and Equipment 10,982
  Advertising and Promotion 3,240
  Data Processing 3,687
  Other 8,701
    $71,478
     
Income Before Taxes 35,308
Income Taxes $9,731
Net Income $25,577
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