North Shore Bank of Commerce

Headquarters

131 West Superior Street
Duluth, MN 55802
See all branch locations →

Notable Rates APY Vs.Others
Savings 0.03% 1.05% →
1-Year CD 0.35% 0.95% →
2-Year CD 0.30% 1.05% →
5-Year CD 0.80% 1.30% →
30-Year Mortgage 3.88% 2.80% →
15-Year Mortgage 3.36% 2.37% →
HELOC N.A. 2.79% →

2020 Overview

General Bank Information

North Shore Bank of Commerce is an FDIC insured institution located in Duluth, MN. It was founded in 1915 and has approximately $0.28 billion in assets. Customers can open an account at one of its 7 branches.

FDIC Insured Yes
FDIC Certificate # 8850
Date Established 1915
Assets $ 278.33 million
Loans $ 203.79 million
Deposits $ 250.24 million
Capital $ 25.24 million
 

For a more detailed analysis of North Shore Bank of Commerce's financial condition and a description of what these numbers mean, please visit the Financial Details section.

Deposit Rates - September 29, 2020

Your Current Location: Virginia, VA 20146

Savings and Money Market Rates APY MIN MAX
Savings
0.03% $2,500 $4,999 Learn More
Money Market
0.03% $2,500 $2,999 Learn More
Money Market
0.03% $10,000 $14,999 Learn More
Money Market
0.20% $25,000 $29,999 Learn More
CD Rates APY MIN MAX
3 Mo CD
0.10% $10,000 $14,999 Learn More
3 Mo CD
0.10% $100,000 $199,999 Learn More
6 Mo CD
0.20% $10,000 $14,999 Learn More
6 Mo CD
0.20% $100,000 $199,999 Learn More
12 Mo CD
0.35% $10,000 $14,999 Learn More
12 Mo CD
0.35% $100,000 $199,999 Learn More
24 Mo CD
0.30% $10,000 $14,999 Learn More
24 Mo CD
0.30% $100,000 $199,999 Learn More
30 Mo CD
0.35% $10,000 $14,999 Learn More
30 Mo CD
0.35% $100,000 $199,999 Learn More
36 Mo CD
0.40% $10,000 $14,999 Learn More
36 Mo CD
0.40% $100,000 $199,999 Learn More
48 Mo CD
0.50% $10,000 $14,999 Learn More
48 Mo CD
0.50% $100,000 $199,999 Learn More
60 Mo CD
0.80% $10,000 $14,999 Learn More
60 Mo CD
0.80% $100,000 $199,999 Learn More

Int Checking Rates APY MIN MAX
Int Ckg
0.01% $1 $99 Learn MoreShow Less
Int Ckg
0.01% $2,500 $3,499 Learn MoreShow Less

Loan Rates - September 29, 2020

Your Current Location: Virginia, VA 20146

Auto Loan Rates APR Rate Monthly Payment
6 Year 4.50% 4.50% $396.85
Refinance Mortgage Rates APR Rate Monthly Payment
Purchase Mortgage Rates APR Rate Monthly Payment

Monthly payments for mortgage products are based on a loan amount of $200,000. Home equity monthly payments are based on a loan amount of $50,000. Auto loan monthly payments are based on a loan amount of $25,000. Rates for each product are based on a variety of factors including credit score and loan amount. For specific requirements please check with the lender. Rates may change at any time.

Branches

North Shore Bank of Commerce branches and locations in your neighborhood. Input a different zip code to find branches and locations for any neighborhood in the United States.

Your Location:
Ashburn,Virginia


North Shore Bank of Commerce Locations


Financial Details

North Shore Bank of Commerce Ratio Analysis

The following ratios and data are available to help you better understand the financial condition of North Shore Bank of Commerce. The data is provided by the FDIC. All banks listed on BestCashCow.com are FDIC-insured. No depositor has ever lost deposits that have been within the FDIC insurance limits.

Texas Ratio
North Shore Bank of Commerce U.S. Bank Average
1.54% 6.94%

The Texas Ratio compares the bank’s non performing assets (non-performing loans and real estate owned) with its tangible common equity and its loan loss reserves. A lower Texas ratio indicates better coverage of problem loans. The closer the Texas Ratio is to 1-to-1 or 100%, the less capital and reserves a bank has to absorb its loan losses.

As of March 31, 2020, North Shore Bank of Commerce had $424,000 in non-current loans and $0 in owned real estate. To cover these potential losses it had $25,236,000 in equity and $2,248,000 in loans loss reserves. That gives it a Texas Ratio of 1.54%.

Return on Equity
North Shore Bank of Commerce U.S. Bank Average
12.24% 7.80%

North Shore Bank of Commerce has a Return on Equity of 12.24% versus the BestCashCow average of 7.80%. Return on equity measures how efficiently a bank is making money from its capital. A bank with a consistently high ROE can be considered well run. A bank with a consistently low ROE can be considered poorly run.

Capitalization
North Shore Bank of Commerce U.S. Bank Average
9.07% 12.68%

North Shore Bank of Commerce has a Capitalization of 9.07% versus the BestCashCow average of 12.68. Capitalization measures how much equity capital a bank has to underpin loans and other assets on its balance sheet. The higher the capitalization number the more secure a bank is considered.

North Shore Bank of Commerce Balance Sheet Analysis

As of March 31, 2020, North Shore Bank of Commerce had assets of $278,332,000, loans of $203,793,000, and deposits of $250,238,000. Long-term increases in deposits shows a bank's ability to raise funds to grow its loans and assets. Loan and asset growth may rise or fall depending on a bank's strategy for growth. Sharp rises and falls in assets, deposits, and loans can be problematic, indicating a loosening of lending standards, or financial distress leading to reduced lending. A big change in these figured can also be from a bank acquisition or merger.

Summary Balance Sheet

March 31, 2020
ASSETS
Cash & Balances due from depository institutions $ 21.02 million
Interest-bearing balances $ 15.34 million
Total securities $ 33.75 million
Federal funds sold and reverse repurchase N.A.
Net loans and leases $ 203.79 million
Loan loss allowance $ 2.25 million
Trading account assets N.A.
Bank premises and fixed assets N.A.
Other real estate owned N.A.
Goodwill and other intangibles $ 1.29 million
All other assets $ 9.17 million
     Total Assets $ 253.10 million
LIABILITIES
Total deposits $ 250.24 million
      Interest-bearing deposits $ 152.33 million
      Deposits held in domestic offices $ 250.24 million
      % insured (estimated) 89.68%
Federal funds purchased and repurchase agreements N.A.
Trading liabilities N.A.
Other borrowed funds $ 1.87 million
Subordinated debt N.A.
All other liabilities $ 0.99 million
      Total Liabilities $ 253.10 million
      Shareholders’ Equity $ 25.24 million

Summary Income Statement

March 31, 2020
INCOME AND EXPENSES
Total Interest Income $ 3.03 million
Total Interest Expense $ 0.20 million
Net interest income $ 2.83 million
Provision for loan and lease losses $ 0.09 million
Total non interest income $ 1.61 million
Total non interest expense $ 3.62 million
Pre-tax Net Operating Income $ 0.73 million

Bank Loan Profile?

The top three loan types in North Shore Bank of Commerce’s loan portfolio are 1-4 Family Residential Loans, Commercial Real Estate, and Small Business Loans.

Compared to other banks in Minnesota, North Shore Bank of Commerce has a significantly higher percent of 1-4 Family Residential Loans on its balance sheet, potentially indicating a specialty in that lending area.

Note: Percentages may not sum to 100% due to rounding and double categorization of some loan types. All data from the FDIC. Additional information about this table.

%
Loans
%
Comparison to Other Banks
 Low   Med   High 
1-4 Family Residential Loans 55.45
Multifamily
Mortgages
5.44
Credit Card Loans 0.00
Consumer Auto Loans 0.14
Small Business Loans 6.26
Construction and Development Loans 5.75
Commercial Real Estate 24.31
Commercial and Industrial Loans 4.24
Farm Loans 0.00

Frequently Asked Questions About North Shore Bank Of Commerce

Branches and Savings

Is North Shore Bank Of Commerce FDIC insured?

Yes. It is covered under FDIC Certificate #8850.

Why does North Shore Bank Of Commerce pay such low interest on savings accounts?

See the best online savings rates here. See the best local savings rates here.

Why are North Shore Bank Of Commerce CD rates not competitive?

See the best online CD rates here. See the best local CD rates here.

Is North Shore Bank Of Commerce a commercial bank?

Yes

Where are North Shore Bank Of Commerce locations?

See branch locations nearby.

Is North Shore Bank Of Commerce open on Saturdays?

Is North Shore Bank Of Commerce open on Sundays?

What time does North Shore Bank Of Commerce open?

What time does North Shore Bank Of Commerce close?

Are North Shore Bank Of Commerce ATMs Open 24/7?

Do North Shore Bank Of Commerce ATMs accept cash deposits?

Can North Shore Bank Of Commerce customers use other ATMs?

Do North Shore Bank Of Commerce branches have notaries?

Will North Shore Bank Of Commerce notarize my document?

What address for North Shore Bank Of Commerce should I put for incoming ACH transfers?

Will the North Shore Bank Of Commerce branch print checks?

Do North Shore Bank Of Commerce checks expire?

Does North Shore Bank Of Commerce require US citizenship to open account?

Can North Shore Bank Of Commerce close my account?

Does North Shore Bank Of Commerce Report to credit bureaus?

Does North Shore Bank Of Commerce Use Equifax?

What is North Shore Bank Of Commerce's ACH Routing Number?

What is North Shore Bank Of Commerce's SWIFT code?

Products

Does North Shore Bank Of Commerce offer mortgages?

Compare mortgage rates here.

Does North Shore Bank Of Commerce offer home equity lines of credit and home equity loans?

Compare home equity lines of credit rates here.

Does North Shore Bank Of Commerce offer personal loans?

Compare personal loan rates here.

Does North Shore Bank Of Commerce offer student loans?

Will North Shore Bank Of Commerce cash a check?

Will North Shore Bank Of Commerce redeem a savings bond?

Does North Shore Bank Of Commerce cash savings bonds?

Will North Shore Bank Of Commerce cash money orders?

Can North Shore Bank Of Commerce issue a money order?

Does North Shore Bank Of Commerce do currency exchange?

Background on The Bank

Who owns North Shore Bank Of Commerce?

How long has North Shore Bank Of Commerce been around?

Can North Shore Bank Of Commerce transfer to other banks?

Does North Shore Bank Of Commerce have quick pay?

Does North Shore Bank Of Commerce accept rolled coins?

Will North Shore Bank Of Commerce accept loose change?

Where is North Shore Bank Of Commerce headquarters?

Customer Reviews for North Shore Bank of Commerce

There are currently no comments for North Shore Bank of Commerce. Be the first to share your experience. Please provide comments that will help others.

Add Your Review

Rate it here →