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 $2 billion in assets and $255 million in net worth, the bank is considered “well capitalized” according to federal bank regulations. Below you find our 2019 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, 2019 (In Thousands)

Assets
	Cash and Investments	$283,624
	Loans Receivable	1,658,099
	Federal Home Loan Bank Stock	4,355
	Premises and Equipment	45,540
	Other Assets	53,128
Total Assets		$2,044,746
Liabilities
	Deposits	$1,730,429
	Borrowed Funds	0
	Escrow	21,604
	Other Liabilities	37,273
		$1,789,306
Net Worth		255,440
Total Liabilities and Net Worth		$2,044,746
Statement of Operations September 30, 2019 (In Thousands)
Interest Income
	Interest on Investments	$7,446
	Interest on Loans	72,922
		$80,368
Interest Expense
	Interest on Deposits	$11,421
	Interest on Borrowed Funds	0
		$11,421
Net Interest Income		$68,947
Non-Interest Income
	Service Charges and Fees	$13,853
	Gain on Sale of Loans	1,693
	Other	1,343
		$16,889
Non-Interest Expense
	Salaries & Benefits	$39,910
	Occupancy and Equipment	10,995
	Advertising and Promotion	2,855
	Data Processing	3,424
	Other	10,938
		$68,122
Income Before Taxes		17,714
Income Taxes		4,945
Net Income		$12,769