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 46 offices in eastern Wisconsin and northern Illinois. With over $2.4 billion in assets and $267 million in net worth, the bank is considered “well capitalized” according to federal bank regulations. Below you will find our 2020 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, 2020 (In Thousands)

Assets
	Cash and Investments	$580,228
	Loans Receivable	1,734,690
	Federal Home Loan Bank Stock	7,656
	Premises and Equipment	52,203
	Other Assets	52,360
Total Assets		$2,427,137
Liabilities
	Deposits	$1,942,433
	Borrowed Funds	150,000
	Escrow	22,178
	Other Liabilities	45,778
Total Liabilities		$2,160,389
Net Worth		266,748
Total Liabilities and Net Worth		$2,427,137
Statement of Operations September 30, 2020 (In Thousands)
Interest Income
	Interest on Investments	$5,873
	Interest on Loans	71,776
		$77,649
Interest Expense
	Interest on Deposits	$10,775
	Interest on Borrowed Funds	1,047
		$11,822
Net Interest Income		$65,827
Non-Interest Income
	Service Charges and Fees	$12,638
	Gain on Sale of Loans	5,797
	Other	1,918
		$20,353
Non-Interest Expense
	Salaries & Benefits	$41,715
	Occupancy and Equipment	11,857
	Advertising and Promotion	1,788
	Data Processing	3,248
	Other	9,550
		$68,158
Income Before Taxes		18,022
Income Taxes		4,934
Net Income		$13,088