North Shore Bank is a federally-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 over $2.5 billion in assets and $288 million in net worth, the bank is considered “well capitalized” according to federal bank regulations. Below you will find our 2021 Statement of Financial Condition Report. The report is published annually at the bank’s fiscal year-end, which runs from October to September.
 
 

Statement of Financial Condition

September 30, 2021 (In Thousands)

Assets

  Cash and Investments $801,184
  Loans Receivable 1,673,680
  Federal Home Loan & Banker's Bank Stock 7,731
  Premises and Equipment 54,887
  Other Assets 51,350
Total Assets $2,588,832
     

Liabilities

  Deposits $2,082,309
  Borrowed Funds 150,000
  Escrow 23,327
  Other Liabilities 45,087
Total Liabilities $2,300,723

Net Worth

288,109

Total Liabilities and Net Worth

$2,588,832
 

 
 

 
 

 
 

Statement of Operations

September 30, 2021 (In Thousands)

Interest Income

  Interest on Investments $4,153
  Interest on Loans 68,092
    $72,245
     

Interest Expense

  Interest on Deposits $4,380
  Interest on Borrowed Funds 1,795
    $6,175
     

Net Interest Income

$66,070
     

Non-Interest Income

  Service Charges and Fees $14,511
  Gain on Sale of Loans 8,337
  Other 3,428
    $26,276
     

Non-Interest Expense

  Salaries & Benefits $45,410
  Occupancy and Equipment 12,403
  Advertising and Promotion 2,620
  Data Processing 3,284
  Other 9,083
    $72,800
     

Income Before Taxes

19,546

Income Taxes

5,393

Net Income

$14,153

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