North Shore Bank of Commerce in Duluth, Minnesota (MN)
| North Shore Bank of Commerce | |
|---|---|
| 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 WWW: http://www.banknorthshore.com 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) |
| Assets and Liabilities (December 31, 2011) (Dollar figures in thousands) | |
| Total employees (full-time equivalent) | 100 |
| Total assets | $226,362 |
| Cash and due from depository institutions | $31,513 |
| Interest-bearing balances | $24,981 |
| Securities | $12,419 |
| Federal funds sold & reverse repurchase agreements | $0 |
| Net loans & leases | $170,994 |
| Loan loss allowance | $1,408 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $5,461 |
| Other real estate owned | $373 |
| Goodwill and other intangibles | $0 |
| All other assets | $5,602 |
| Life insurance assets | $226,362 |
| Total liabilities and capital | $212,300 |
| Total liabilities | $210,344 |
| Total deposits | $149,151 |
| Interest-bearing deposits | $210,344 |
| Deposits held in domestic offices | $90 |
| % insured (estimated) | 0.00% |
| Federal funds purchased & repurchase agreements | $0 |
| Trading liabilities | $980 |
| Other borrowed funds | $0 |
| Subordinated debt | $976 |
| All other liabilities | $14,062 |
| Total equity capital | $14,062 |
| Total bank equity capital | $14,062 |
| Perpetual preferred stock | $0 |
| Common stock | $1,000 |
| Surplus | $9,000 |
| Undivided profits | $4,062 |
| Memoranda | |
| Noncurrent loans and leases | $0 |
| Noncurrent loans that are wholly or partially guaranteed by the U.S. government | $6,360 |
| Income earned, not collected on loans | $1,731 |
| Earning assets | $25 |
| Long-term assets (5+ years) | $674 |
| Average Assets, year-to-date | $208,394 |
| Average Assets, quarterly | $27,782 |
| Volatile liabilities | $218,643 |
| Insider loans | $227,844 |
| FHLB advances | $140,814 |
| Loans and leases held for sale | $226,051 |
| Unused loan commitments | $2,513 |
| Tier 1 (core) risk-based capital | $2,513 |
| Tier 2 risk-based capital | $14,036 |
| Total risk weighted assets | $0 |
| Total unused commitments | $0 |
| Restructured Loans and leases | $23,122 |
| Derivatives | $529 |
| Income and Expense (December 31, 2011) (Dollar figures in thousands) | |
| Total interest income | $9,226 |
| Total interest expense | $969 |
| Net interest income | $8,257 |
| Provision for loan and lease losses | $70 |
| Total noninterest income | $4,569 |
| Fiduciary activities | $1,959 |
| Service charges on deposit accounts | $521 |
| Trading account gains & fees | $0 |
| Additional noninterest income | $2,089 |
| Total noninterest expense | $10,786 |
| Salaries and employee benefits | $6,610 |
| Premises and equipment expense | $1,575 |
| Additional noninterest expense | $2,601 |
| Pre-tax net operating income | $1,970 |
| Securities gains (losses) | $0 |
| Applicable income taxes | $5 |
| Income before extraordinary items | $1,965 |
| Extraordinary gains - net | $0 |
| Net income attributable to bank | $1,965 |
| Net charge-offs | $0 |
| Cash dividends | $1,965 |
| Sale, conversion, retirement of capital stock, net | $79 |
| Net operating income | $1,884 |
| Performance and Condition Ratios (December 31, 2011) (Dollar figures in thousands) | |
| Performance Ratios (%, annualized) | |
| Yield on earning assets | 4.58% |
| Cost of funding earning assets | 0.48% |
| Net interest margin | 4.09% |
| Noninterest income to earning assets | 2.27% |
| Noninterest expense to earning assets | 5.35% |
| Net operating income to assets | 0.90% |
| Return on assets (ROA) | 0.90% |
| Pretax return on assets | 0.90% |
| Return on equity (ROE) | 14.00% |
| Retained earnings to average equity (YTD only) | 0.58% |
| Net charge-offs to loans | 0.05% |
| Credit loss provision to net charge-offs | 88.61% |
| Efficiency ratio | 25.82% |
| Assets per employee | $84,095 |
| Cash dividends to net income (YTD only) | 2.26% |
| Condition Ratios (%) | |
| Loss allowance to loans | 95.88% |
| Loss allowance to noncurrent loans | 0.82% |
| Noncurrent assets plus other real estate owned to assets | 81.34% |
| Noncurrent loans to loans | 0.93% |
| Net loans and leases to deposits | 1.00% |
| Net loans and leases to core deposits | 81.29% |
| Equity capital to assets | 81.87% |
| Core capital (leverage) ratio | 6.21% |
| Tier 1 risk-based capital ratio | 6.21% |
| Total risk-based capital ratio | 9.97% |
| Memoranda | |
| Average assets | $11 |
| Average earning assets | $218,643 |
| Average equity | $14,036 |
| Average loans | $201,644 |
| Total Fiduciary and Related Assets (December 31, 2011) (Dollar figures in thousands) | |
| Total fiduciary and related assets | $1 |
| Number of Fiduciary Accounts and Related Asset Accounts | 1 |
| Fiduciary powers granted | Yes |
| Fiduciary or related activity | Yes |
| Managed Assets | $402,485 |
| Number of Accounts | 1 |
| Personal trust and agency accounts | $331,800 |
| Employee benefit-defined contribution accounts | $88,948 |
| Employee benefit-defined benefit accounts | $44,662 |
| Other retirement accounts | $10,736 |
| Corporate trust and agency accounts | $74,980 |
| Investment management agency accounts | $0 |
| Other fiduciary accounts | $75,907 |
| Fiduciary accounts held in foreign offices | $36,567 |
| Non-managed Assets | $0 |
| Number of Accounts | 1339 |
| Personal trust and agency accounts | $0 |
| Employee benefit-defined contribution accounts | $67,917 |
| Employee benefit-defined benefit accounts | $0 |
| Other retirement accounts | $70,685 |
| Corporate trust and agency accounts | $3,541 |
| Other fiduciary accounts | $26,528 |
| Fiduciary accounts held in foreign offices | $11,854 |
| 8 Minnesota Branches as of April 05, 2012 | ||||||
| No | ID | Name | Address | Established | Service Type | Map |
|---|---|---|---|---|---|---|
| 0 | 5645 | North Shore Bank Of Commerce | 131 West Superior Street, Duluth, MN 55802 | September 14, 1915 | Full Service Brick and Mortar |  |
| 2 | 7046 | Lakeside Branch | 4801 East Superior Street, Duluth, MN 55804 | June 11, 1911 | Full Service Brick and Mortar |  |
| 3 | 223541 | Woodland Branch | 17 Calvary Road, Duluth, MN 55803 | December 20, 1978 | Full Service Brick and Mortar | |
| 5 | 12670 | Hermantown Branch | 4810 Miller Trunk Highway, Hermantown, MN 55811 | June 17, 1963 | Full Service Brick and Mortar | |
| 6 | 364514 | Www.Banknorthshore.com Branch | 131 West Superior Street, Duluth, MN 55802 | July 01, 2001 | Full Service Cyber | |
| 7 | 364515 | Auto Bank Branch | 19 N 2nd Ave West, Duluth, MN 55802 | July 01, 2001 | Limited Service Facility | |
| 8 | 437842 | Cloquet Office | 902 Stanley Avenue, Cloquet, MN 55720 | November 04, 2004 | Full Service Brick and Mortar | |
| 9 | 491999 | Lakeshore Branch | 131 W Superior St, Duluth, MN 55802 | July 01, 2008 | Limited Service Mobile | |
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