North Shore Bank of Commerce
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Data as of · sourced from FFIEC call reports. How we update
North Shore Bank of Commerce is an FDIC-insured commercial bank headquartered in Duluth, MN, established in 1915 (FDIC certificate 8850), and it is supervised by the Federal Reserve. At Q2 2026 it reported total assets of $598.5M, up 8.5% from Q2 2025, the 39th largest of 221 banks headquartered in Minnesota. It reports no CET1 ratio; its Tier 1 leverage ratio was 8.74% at Q2 2026, not above the 9% community bank leverage ratio requirement for being considered well capitalized.
- Charter
- Commercial bank
- Regulator
- Federal Reserve
- Deposit insurance
- FDIC
- FDIC certificate
- 8850
- Headquarters
- Duluth, MN
- Established
- 1915
- Total assets, Q2 2026
- $598.5M
- Assets vs Q2 2025
- +8.5%
- Tier 1 leverage ratio, Q2 2026
- 8.74%
- Domestic offices
- 7 FDIC institution directory, current count
- Routing number
- 091900106
- Latest call report
- Q2 2026, FFIEC 041 · North Shore Bank of Commerce call report
- Holding company
- NORTH SHORE FINANCIAL CORPORATION
- Asset rank in state
- 39th of 221 in Minnesota
North Shore Bank of Commerce operates with a thinner capital cushion than most banks of its size. Its balance sheet stood at $599 million at June 30, 2026, up 8.5% from a year earlier; it is based in Duluth, Minnesota. It funds 8.74% of its assets with Tier 1 capital, lower than about 9 in 10 of the 2,660 banks with $100 million to $1 billion in assets (median 10.99%). On the other hand, it returns 21.1% a year on shareholders' equity, higher than about three-quarters of banks its size (median 12.5%).
Net income for the quarter rose 26% from a year earlier, to $2.6 million. Concentration is the risk to watch: it holds commercial real estate loans worth 2.1 times its capital, higher than about three-quarters of banks its size (median 1.2 times).
As of June 30, 2026, North Shore Bank of Commerce reported a return on assets of 1.78%, a nonperforming-loan ratio of 0.14% and a Texas ratio of 1.27%. The figures come from its call report filed with the FFIEC.
North Shore Bank of Commerce ranks as the 39th largest of the 221 banks based in Minnesota, by total assets at Q2 2026. Quarter on quarter (Q1 2026 to Q2 2026), its total assets rose 3.1% to $598.5M, loans rose 4.2% and deposits rose 5.1%. 1-4 family residential loans made up 58.7% of its total loans on June 30, 2026, its largest category; next came non-owner-occupied commercial real estate loans at 10.8%. The FDIC Summary of Deposits lists 7 offices for it, in Duluth, MN and Hermantown, MN; its Duluth 6 offices book 78% of its branch deposits. On its Q2 2026 call report, North Shore Bank of Commerce is inside the community bank leverage ratio grace band.
Headquarters Profile
- Address
- 131 W Superior St, Duluth, MN 55802
- County
- St. Louis
- Metro Area
- Duluth, MN-WI
- Charter
- Commercial bank, state charter, Fed member, FRB-supervised
- Primary Regulator
- Federal Reserve
- FDIC Region
- Kansas City (Region 11)
- Federal Reserve member
- Yes
- Federal Reserve district
- District 9, Minneapolis
- Fiduciary (trust) powers
- Full trust powers granted
- Call Report form
- FFIEC 041
- Established
- September 14, 1915
- Former names
- Northwestern Bank of Commerce (1950-1983); Bank of Commerce & Savings (1946-1950)
- Domestic offices
- 7 FDIC institution directory, current count
- Employees (FTE)
- 129
- Domestic deposits
- $516.5M
- Allowance for credit losses
- $3.0M
- Net charge-offs (YTD)
- $0
- Average total assets
- $591.6M
- Average total loans
- $447.6M
- Average interest-bearing deposits
- $363.8M
- Tax status
- Subchapter S
- Ownership
- Stock
- Community bank
- Yes
- FDIC-insured since
- January 1, 1934
- FDIC Cert
- 8850
- Fed RSSD
- 126553
- SEC CIK
- 1821947 → filed by NORTH SHORE FINANCIAL CORPORATION
- Website
- www.northshore.bank →
- Parent Holding Company
- NORTH SHORE FINANCIAL CORPORATION (RSSD 1136540)
Profitability
Q2 annualizedBalance Sheet
Income Statement
Operating & Funding
Ratios tagged annualized use the Q2 income alone. The UBPR and FDIC annualize the year to date instead. FDIC BankFind divides by the average of quarter-end total assets, the UBPR by RC-K average assets. The YTD margin is the UBPR's tax-equivalent figure over its own average earning assets; FDIC BankFind's margin is not tax-equivalent. As a community bank leverage ratio filer, North Shore Bank of Commerce reports no risk-based capital ratios; its Tier 1 leverage ratio applies. How we compute these figures
Quarterly trends
North Shore Bank of Commerce's total assets moved between a low of $460.6M (Q3 2023) and a high of $598.5M (Q2 2026) from Q3 2023 to Q2 2026, and it earned a profit in all 12 quarters. The line under each chart compares Q2 2026 with Q2 2025. How these charts are built
$598.5M total assets against $551.8M; $548.7M total liabilities against $506.3M.
$468.6M net loans and leases against $427.1M; $516.5M total deposits against $467.6M.
$54.3M securities against $54.7M; $29.3M cash and balances due against $29.3M.
$8.7M total interest income against $7.6M; $2.6M total interest expense against $2.4M.
$6.1M net interest income against $5.2M.
$3.3M total noninterest income against $3.1M; $6.6M total noninterest expense against $6.2M.
$150K provision for credit losses against $120K.
$2.6M net income against $2.1M.
1.78% return on assets against 1.55%; 4.51% net interest margin against 4.18%.
8.74% tier 1 leverage ratio against 8.93%.
Inside the full North Shore Bank of Commerce terminal
21 quarters of trends · 8 tabs · peer percentiles · watchlist alerts
Unlock this bank, freeWatch flags
Automated conditions triggered on this bank's latest filing. Advisory only; see the source metric pages for full context. Each flag is tagged Regulatory when it cites an official supervisory threshold, or BRR analysis when it's our own band, informed by our data and models.
Commercial real estate loans are between 200% and 300% of total capital, approaching the 2006 interagency guidance threshold of 300% that triggers heightened supervisory attention. BankRegReports early-warning band below the 300% guidance.
North Shore Bank of Commerce rankings
Its closest position to the top of a national ranking is 777 of 3,611, for ROA; its furthest is 2,758 of 3,606, for efficiency ratio.
Quarterly trend: last 8 quarters
From Q3 2024 to Q2 2026, its return on assets ran from 1.07% (Q1 2025) to 5.29% (Q4 2024) and its net interest margin ran from 3.97% (Q1 2025) to 4.51% (Q2 2026).
| Quarter | Leverage | ROA | NPL | Texas | NIM |
|---|---|---|---|---|---|
| Q2 2026 | 8.74% | 1.78% | 0.14% | 1.27% | 4.51% |
| Q1 2026 | 8.89% | 1.35% | 0.22% | 1.94% | 4.19% |
| Q4 2025 | 9.14% | 2.00% | 0.18% | 1.47% | 4.39% |
| Q3 2025 | 8.89% | 1.58% | 0.13% | 1.11% | 4.31% |
| Q2 2025 | 8.93% | 1.55% | 0.14% | 1.21% | 4.18% |
| Q1 2025 | 9.51% | 1.07% | 0.14% | 1.17% | 3.97% |
| Q4 2024 | 9.46% | 5.29% | 0.15% | 1.31% | 4.16% |
| Q3 2024 | 8.54% | 1.45% | 0.09% | 0.90% | 4.19% |
Swipe the table sideways to see every column.
Branch Network
View all 7 branches → Branch count from the FDIC Summary of Deposits, June 30, 2026. The domestic office count above is the FDIC's current figure, so the two can differ.
| Branch | Location | ZIP | Deposits |
|---|---|---|---|
| North Shore Bank of Commerce (main office) | Duluth , MN | 55802 | $283.9M |
| Hermantown Branch | Hermantown , MN | 55811 | $113.2M |
| Lakeside Branch | Duluth , MN | 55804 | $78.1M |
| Woodland Branch | Duluth , MN | 55803 | $41.3M |
| Northshore.Bank Branch | Duluth , MN | 55802 | $0 |
| Auto Bank Branch | Duluth , MN | 55810 | $0 |
| Lakeshore Branch | Duluth , MN | 55802 | $0 |
Events & Regulatory History
Mergers, charter changes, enforcement actions, FDIC assistance, and (if applicable) failure events recorded against this institution. Click a year to see what else was happening across US banking that year.
| Date | Category | Event | Source |
|---|---|---|---|
| December 30, 1990 | Merger | Participated in Absorption/Consolidation/Merger | FDIC |
| December 30, 1990 | Structure Change | Acquired Airport State Bank of Duluth Charter Discontinued (Merger or Purchase & Assumption) for the acquired bank | FFIEC NIC |
| December 31, 1983 | Merger | Participated in Absorption/Consolidation/Merger | FDIC |
| December 31, 1983 | Structure Change | Acquired North Shore State Bank Charter Discontinued (Merger or Purchase & Assumption) for the acquired bank | FFIEC NIC |
Sourced from the bank event history (FDIC, Federal Reserve NIC, OCC, and OTS). Showing the most recent 4 events.
Regulatory record
Facts as filed or published, not a rating.
- Enforcement actions
- 1 against the institution (Federal Reserve)
- July 18, 2024, Federal Reserve: Civil Money Penalty: North Shore Bank of Commerce, Duluth, Minnesota
- Period: Most recent institution action July 18, 2024. Source: FDIC, Federal Reserve and OCC enforcement releases.
- Deposit market share
- 0.2% of deposits in MN, rank 56 of 277 institutions
- Period: June 30, 2026. Source: FDIC Summary of Deposits.
- Mortgage lending (HMDA)
- 671 applications, 556 loans originated, $165.4M originated, across 5 states
- Period: Calendar year 2025. Source: FFIEC HMDA loan application register.
- SBA 7(a) lending
- 2 loans, $1.1M approved, $548K average. 0.00% of that year's loans have since been charged off
- Period: Federal fiscal year 2023 (October to September). Source: SBA 7(a) and 504 loan data (FOIA).
- Not on file
- Consumer complaints, CFPB enforcement, CRA examination rating. No record from these sources, which is not the same as a clean record. Sources
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Frequently asked about North Shore Bank of Commerce
What are North Shore Bank of Commerce's total assets?
As of the Q2 2026 filing, North Shore Bank of Commerce reported total assets of $598.5 million in its FFIEC call report.
Where is North Shore Bank of Commerce headquartered?
It is headquartered in Duluth, MN, United States.
When was North Shore Bank of Commerce founded?
It was established in 1915, per the FDIC institution directory.
Is North Shore Bank of Commerce FDIC-insured?
Yes. It is an FDIC-insured commercial bank (FDIC Certificate #8850). Deposits are insured up to $250,000 per depositor, per insured bank, for each account ownership category, per FDIC rules.
Who regulates North Shore Bank of Commerce?
North Shore Bank of Commerce's primary federal regulator is the Federal Reserve.
How many branches does North Shore Bank of Commerce operate?
It operates 7 domestic offices, per the FDIC institution directory. That count includes administrative and limited-service offices as well as full-service branches.
What is North Shore Bank of Commerce's Texas Ratio?
Its Texas Ratio is 1.27% in its Q2 2026 call report, within the healthy range (at or below 50%, the level at which problem assets reach half of the capital cushion). The Texas Ratio measures non-performing assets against the bank's capital and reserves.
What was North Shore Bank of Commerce previously called?
The charter now named North Shore Bank of Commerce has also operated as Northwestern Bank of Commerce (1950-1983), Bank of Commerce & Savings (1946-1950), per FDIC structure-change records.
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