North Shore Bank of Commerce in Duluth, Minnesota (MN)
Overview, Financial Summary, Detailed Financial Reports, Branches

North Shore Bank of Commerce - Overview

  • General
  • FDIC Certificate #: 8850
    Status: Active
    Federal Reserve ID: 126553
    Bank Holding Company (Regulatory Top Holder): North Shore Financial Corporation (RSSDID: 1136540, Location: Duluth, MN)
    Date Established: September 14, 1915
    Trust Powers Granted: Yes
    Bank Charter Class: Commercial bank, state charter and Fed member, supervised by the Federal Reserve (FRB)
    Offices: 8 (Domestic: 8, Interstate: No)
    FDIC's unique #: 5645
    Numeric code: 13
    Regulator: FED
    Insurance Fund Membership: Deposit Insurance Fund (DIF)
    Insured commercial Banks: Yes
    FDIC Insured: Yes
    Deposit Insurance Fund member: Yes
    Ownership Type: Non-Stock
    FFIEC Call Report 31 Filer: No
    State Chartered: Yes
    Subchapter S Corporations: Yes
    Asset Concentration Hierarchy: Commercial Lending Specialization
    Date of Deposit Insurance: January 01, 1934
    Last Structure Change Effective Date: March 31, 2006
    Last Structure Change Process Date: November 03, 2006
    Last Data Update: November 03, 2006
    Data Source Date: April 05, 2012
  • Location
  • Address: 131 West Superior Street, Duluth, MN 55802
    County: St. Louis
    Quarterly Banking Profile Region: Kansas City
    FDIC Geographic Region: Kansas City
    FDIC Supervisory Region: Kansas City
    FDIC Field Office: Minneapolis
    Office of the Comptroller the Currency (OCC) District: Central
    Office of Thrift Supervision Region: West
    Metropolitan Statistical Area (MSA): Duluth-Superior, MN-WI (#2240)
    Core Based Statistical Area (CBSA): Duluth, MN-WI (#20260)
    CBSA Metro Statistical Area: Duluth, MN-WI (#20260)
  • History of Changes
  • Merge BIF and SAIF Funds into DIF
  • Financial Summary
  • Total assets: $226.4 mil
    Equity capital: $14.1 mil
    Deposits held in domestic offices: $210.3 mil
    Return on assets (ROA): 0.90% ($2.0 mil)
    Quarterly return on assets: 0.70% ($1.6 mil)
    Return on Equity (ROE): 14.00% ($2.0 mil)
    Quarterly return on equity: 11.21% ($1.6 mil)
    Net income: $2.0 mil
    Quarterly Net income: $0.4 mil
    Pretax return on assets: 0.90% ($2,037.3 mil)
    Quarterly Pretax return on assets: 0.70% ($1,584.5 mil)

1992 - 1999 Historical total assets, liabilities and capital ($ mil)

2000 - 2011 Historical total assets, liabilities and capital ($ mil)

Historical Total Incomes ($ mil)

Historical Total Expenses ($ mil)

Historical total employees (full-time equivalent)

Assets and Liabilities (December 31, 2011)

  • Dollar figures in thousands
  • 100Total employees (full-time equivalent)
  • $226,362Total assets
  • $31,513Cash and due from depository institutions
  • $24,981Interest-bearing balances
  • $12,419Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $170,994Net loans & leases
  • $1,408Loan loss allowance
  • $0Trading account assets
  • $5,461Bank premises and fixed assets
  • $373Other real estate owned
  • $0Goodwill and other intangibles
  • $226,362Life insurance assets
  • $5,602All other assets
  • $212,300Total liabilities and capital
  • $210,344Total liabilities
  • $149,151Total deposits
  • $210,344Interest-bearing deposits
  • $90Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $980Trading liabilities
  • $0Other borrowed funds
  • $976Subordinated debt
  • $14,062All other liabilities
  • $14,062Total equity capital
  • $14,062Total bank equity capital
  • $0Perpetual preferred stock
  • $1,000Common stock
  • $9,000Surplus
  • $4,062Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $6,360Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $1,731Income earned, not collected on loans
  • $25Earning assets
  • $674Long-term assets (5+ years)
  • $208,394Average Assets, year-to-date
  • $27,782Average Assets, quarterly
  • $218,643Volatile liabilities
  • $227,844Insider loans
  • $140,814FHLB advances
  • $226,051Loans and leases held for sale
  • $2,513Unused loan commitments
  • $2,513Tier 1 (core) risk-based capital
  • $14,036Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $23,122Restructured Loans and leases
  • $529Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $9,226Total interest income
  • $969Total interest expense
  • $8,257Net interest income
  • $70Provision for loan and lease losses
  • $4,569Total noninterest income
  • $1,959Fiduciary activities
  • $521Service charges on deposit accounts
  • $0Trading account gains & fees
  • $2,089Additional noninterest income
  • $10,786Total noninterest expense
  • $6,610Salaries and employee benefits
  • $1,575Premises and equipment expense
  • $2,601Additional noninterest expense
  • $1,970Pre-tax net operating income
  • $0Securities gains (losses)
  • $5Applicable income taxes
  • $1,965Income before extraordinary items
  • $0Extraordinary gains - net
  • $1,965Net income attributable to bank
  • $0Net charge-offs
  • $1,965Cash dividends
  • $79Sale, conversion, retirement of capital stock, net
  • $1,884Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 4.58%Yield on earning assets
  • 0.48%Cost of funding earning assets
  • 4.09%Net interest margin
  • 2.27%Noninterest income to earning assets
  • 5.35%Noninterest expense to earning assets
  • 0.90%Net operating income to assets
  • 0.90%Return on assets (ROA)
  • 0.90%Pretax return on assets
  • 14.00%Return on equity (ROE)
  • 0.58%Retained earnings to average equity (YTD only)
  • 0.05%Net charge-offs to loans
  • 88.61%Credit loss provision to net charge-offs
  • 25.82%Efficiency ratio
  • 84,095Assets per employee
  • 2.26%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 95.88%Loss allowance to loans
  • 0.82%Loss allowance to noncurrent loans
  • 81.34%Noncurrent assets plus other real estate owned to assets
  • 0.93%Noncurrent loans to loans
  • 1.00%Net loans and leases to deposits
  • 81.29%Net loans and leases to core deposits
  • 81.87%Equity capital to assets
  • 6.21%Core capital (leverage) ratio
  • 6.21%Tier 1 risk-based capital ratio
  • 9.97%Total risk-based capital ratio
  • Memoranda
  • $11Average assets
  • $218,643Average earning assets
  • $14,036Average equity
  • $201,644Average loans

Total Fiduciary and Related Assets (December 31, 2011)

  • Dollar figures in thousands
  • $1Total fiduciary and related assets
  • 1Number of Fiduciary Accounts and Related Asset Accounts
  • YesFiduciary powers granted
  • YesFiduciary or related activity
  • $402,485Managed Assets
  • 1Number of Accounts
  • $331,800Personal trust and agency accounts
  • $88,948Employee benefit-defined contribution accounts
  • $44,662Employee benefit-defined benefit accounts
  • $10,736Other retirement accounts
  • $74,980Corporate trust and agency accounts
  • $0Investment management agency accounts
  • $75,907Other fiduciary accounts
  • $36,567Fiduciary accounts held in foreign offices
  • $0Non-managed Assets
  • 1339Number of Accounts
  • $0Personal trust and agency accounts
  • $67,917Employee benefit-defined contribution accounts
  • $0Employee benefit-defined benefit accounts
  • $70,685Other retirement accounts
  • $3,541Corporate trust and agency accounts
  • $26,528Other fiduciary accounts
  • $11,854Fiduciary accounts held in foreign offices

List of branches

  • 8 Minnesota Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    05645North Shore Bank Of Commerce131 West Superior Street, Duluth, MN 55802September 14, 1915Full Service Brick and Mortar
    27046Lakeside Branch4801 East Superior Street, Duluth, MN 55804June 11, 1911Full Service Brick and Mortar
    3223541Woodland Branch17 Calvary Road, Duluth, MN 55803December 20, 1978Full Service Brick and Mortar
    512670Hermantown Branch4810 Miller Trunk Highway, Hermantown, MN 55811June 17, 1963Full Service Brick and Mortar Branch131 West Superior Street, Duluth, MN 55802July 01, 2001Full Service Cyber
    7364515Auto Bank Branch19 N 2nd Ave West, Duluth, MN 55802July 01, 2001Limited Service Facility
    8437842Cloquet Office902 Stanley Avenue, Cloquet, MN 55720November 04, 2004Full Service Brick and Mortar
    9491999Lakeshore Branch131 W Superior St, Duluth, MN 55802July 01, 2008Limited Service Mobile

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