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North Shore Bank of Commerce

Duluth, MN · Cert 8850 · North Shore Financial Corp.

State charter, Fed member · FED · 7 branches

Q2 2026

Board Package

Performance Trends and Peer Comparison

Part 1Performance Trends, own institution only2
Part 2Peer Comparison, banks under $1B in assets3

Basis

Quarter: Q2 2026, the quarter ended June 30, 2026, on both parts.

Income statement: year to date as filed, annualized, on both parts.

Balance sheet: as filed at quarter end.

Peer group

Banks under $1B in assets (n=573 to 620). Each measure ranks only the institutions that reported it, so n varies by measure.

Peer groups below the disclosure floor are suppressed.

Peer standing

Capital

6

Q2 2024Q2 2026peer median (50)

Asset Quality

86

Q2 2024Q2 2026peer median (50)

Profitability

72

Q2 2024Q2 2026peer median (50)

Liquidity

50

Q2 2024Q2 2026peer median

Efficiency

39

Q2 2024Q2 2026peer median (50)

Growth

No peer data yet

Capital, Asset Quality, Profitability, Efficiency: higher is always a stronger peer standing (▲ better, ▼ worse). Liquidity, Growth: the score reflects closeness to the peer median -- 100 is sitting exactly at the median, falling the same way whether the bank runs above or below it.

Source: FFIEC Call Report (031/041/051), as filed. Dollar figures derived from reported amounts in thousands. Ratios computed by CallReports.ai using published regulatory formulas.

CallReports · callreports.ai · Board PackageGenerated 2026-10-10

North Shore Bank of Commerce

Duluth, MN · Cert 8850 · North Shore Financial Corp.

State charter, Fed member · FED · 7 branches

Q2 2026

$598.5MAssets
$471.6MLoans
$516.5MDeposits
$49.9MEquity
Loan mix
92%RE $413.3M7%C&I $29.6M2%Consumer $7.6MQ2 2025Q2 2026
Deposit mix
73%Interest-bearing $377.3M27%Noninterest $139.2MQ2 2025Q2 2026

NIM

5.16%Q2 ’245.48%Q2 ’255.66%Q2 ’26+8%+6%

Non-interest income vs. expense

4.14%Q2 ’244.47%Q2 ’254.36%Q2 ’26-3%-1%

Market Position · Duluth, MN-WI · 2026 SOD (annual) · 7.8% share · #5 of 26 inst. · $0.5B of $6.6B

Executive Summary

  • Earnings: ROA of 1.23%, up 20 bps year over year; NIM at 3.97%.
  • Asset quality: problem loans at 0.14% of loans (+1 bps YoY), with net charge-offs at 0.00%.
  • Capital: tier 1 leverage ratio of 8.74%, down 19 bps from a year ago.
  • Funding: loans stand at 91.30% of deposits as of Q2 2026.

Financial Results

Return on Assets (YTD, annualized)

1.23%+20 bps YoY

Net Interest Margin (YTD, annualized)

3.97%+21 bps YoY

Efficiency Ratio (YTD, annualized)

72.56%-342 bps YoY

Tier 1 Leverage Ratio

8.74%-19 bps YoY

Year to date, annualized, through each quarter.

MetricQ2 2025Q3 2025Q4 2025Q1 2026Q2 2026YoY ΔTrend
Earnings
Return on Assets1.02%1.10%1.22%1.06%1.23%+20 bps
Return on Equity11.76%12.69%14.12%12.24%14.38%+262 bps
Net Interest Margin3.75%3.74%3.77%3.89%3.97%+21 bps
Efficiency Ratio75.98%74.79%72.58%74.94%72.56%-342 bps
Non-Interest Burden2.34%2.28%2.18%2.44%2.32%-2 bps
Growth
Asset Growth (YoY)7.56%7.56%11.31%8.14%8.47%+91 bps
Loan Growth (YoY)3.09%3.07%4.59%7.43%9.78%+668 bps
Deposit Growth (YoY)17.16%17.21%15.78%8.91%10.46%-670 bps
Asset Quality
Nonperforming Loans / Loans0.14%0.13%0.18%0.22%0.14%+1 bps
Net Charge-Offs / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Allowance / Loans0.58%0.60%0.62%0.63%0.64%+5 bps
Allowance Coverage of NPLs4.3x4.7x3.5x2.8x4.5x+0.2x
Capital
Tier 1 Leverage Ratio8.93%8.89%9.14%8.89%8.74%-19 bps
Total Risk-Based Capital8.93%8.89%9.14%8.89%8.74%-19 bps
Equity / Assets8.25%8.53%8.68%8.55%8.33%+8 bps
Liquidity & Funding
Loans / Deposits91.87%92.18%89.14%92.04%91.30%-57 bps
Liquid Assets / Assets3.73%3.65%7.40%3.61%3.29%-45 bps
CRE / Total Capitaln/a285%277%288%n/an/a

Source: FFIEC Call Report (031/041/051), as filed. Dollar figures derived from reported amounts in thousands. Ratios computed by CallReports.ai using published regulatory formulas. Income-statement figures are year-to-date as filed, annualized (the UBPR convention). Each quarter includes the ones before it.

CallReports · callreports.ai· Performance TrendsGenerated 2026-10-10

North Shore Bank of Commerce

Duluth, MN · Cert 8850 · Peer group: banks under $1B in assets (n=573-620) · North Shore Financial Corp.

State charter, Fed member · FED · 7 branches

Q2 2026

$598.5MAssets
$471.6MLoans
$516.5MDeposits
$49.9MEquity

Executive Summary

  • Strongest standing: net charge-offs / loans outperforms 100% of banks under $1B in assets (rank 162 of 573).
  • Widest gap: total risk-based capital ratio trails 99% of banks under $1B in assets (rank 616 of 620).
  • Overall: at or above the peer median on 5 of 9 directional measures.

Return on Assets

1.20%

Rank 230 of 620

Net Interest Margin

3.97%

Rank 170 of 620

Efficiency Ratio

72.56%

Rank 381 of 620

Equity / Assets

8.33%

Rank 526 of 620

Non-interest income vs. expense

$12.1M$25.8MINCOMEEXPENSE
Unfavorable gap of $13.7M · efficiency ratio beats 39% of banks under $1B in assets
Bank 72.56%Peer median 68.1%Q3 2024Q2 2026Shaded: peer 25th to 75th percentile
MetricYour BankPeer 25thPeer MedianPeer 75thStandingRankPeer Position
Earnings
Return on Assets1.20%0.60%1.00%1.45%Beats 63%230 / 620
Return on Equity14.44%5.30%9.30%13.29%Beats 81%116 / 620
Net Interest Margin3.97%3.02%3.53%4.04%Beats 73%170 / 620
Efficiency Ratio72.56%58.35%68.08%79.37%Beats 39%381 / 620
Asset Quality
Nonperforming Loans / Loans0.14%0.09%0.47%1.27%Beats 71%170 / 573
Net Charge-Offs / Loans0.00%n/a0.01%0.06%Beats 100%162 / 573
Capital
Tier 1 Capital Ratio8.74%11.27%13.87%18.78%Beats 1%615 / 620
Total Risk-Based Capital Ratio8.74%11.69%14.57%19.67%Beats 1%616 / 620
Equity / Assets8.33%9.03%10.60%13.73%Beats 15%526 / 620
Liquidity & Funding
Loans / Deposits91.30%65.08%79.69%92.47%73rd pctl158 / 585
Loans / Assets78.79%51.85%67.17%77.86%79th pctl133 / 620
Brokered Deposits / Depositsn/aNot reported for this institution