Financial Statement

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 44 offices in eastern Wisconsin and northern Illinois. With over $1.9 billion in assets and $244 million in net worth, the bank is considered “well capitalized” according to federal bank regulations. Below you find our 2018 Statement of Condition Report. The report is published annually at the bank’s fiscal year-end, which runs from October to September.
 

Statement of Condition

September 30, 2018 (In Thousands)

Assets
	Cash and Investments	$268,432
	Loans Receivable	1,575,292
	Federal Home Loan Bank Stock	4,170
	Premises and Equipment	48,289
	Other Assets	53,830
Total Assets		$1,950,013
Liabilities
	Deposits	$1,646,957
	Borrowed Funds	0
	Escrow	21,275
	Other Liabilities	36,795
		$1,705,027
Net Worth		244,986
Total Liabilities and Net Worth		$1,950,013
Statement of Operations September 30, 2018 (In Thousands)
Interest Income
	Interest on Investments	$6,181
	Interest on Loans	64,171
		$70,352
Interest Expense
	Interest on Deposits	$6,833
	Interest on Borrowed Funds	21
		$6,854
Net Interest Income		$63,498
Non-Interest Income
	Service Charges and Fees	$12,970
	Gain on Sale of Loans	1,454
	Other	1,337
		$15,761
Non-Interest Expense
	Salaries & Benefits	$36,196
	Occupancy and Equipment	10,104
	Advertising and Promotion	2,612
	Data Processing	3,265
	Other	9,984
		$62,161
Income Before Taxes		17,098
Income Taxes		7,741
Net Income		$9,357