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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=581 to 629). 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

85

Q2 2024Q2 2026peer median (50)

Profitability

71

Q2 2024Q2 2026peer median (50)

Liquidity

53

Q2 2024Q2 2026peer median

Efficiency

38

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 2026-10-11

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 2026-10-11

North Shore Bank of Commerce

Duluth, MN · Cert 8850 · Peer group: banks under $1B in assets (n=581-629) · 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 158 of 581).
  • Widest gap: total risk-based capital ratio trails 99% of banks under $1B in assets (rank 625 of 629).
  • Overall: at or above the peer median on 5 of 9 directional measures.

Return on Assets

1.20%

Rank 237 of 629

Net Interest Margin

3.97%

Rank 181 of 629

Efficiency Ratio

72.56%

Rank 389 of 629

Equity / Assets

8.33%

Rank 536 of 629

Non-interest income vs. expense

$12.1M$25.8MINCOMEEXPENSE
Unfavorable gap of $13.7M · efficiency ratio beats 38% of banks under $1B in assets
Bank 72.56%Peer median 67.8%Q3 2024Q2 2026Shaded: peer 25th to 75th percentile
MetricYour BankPeer 25thPeer MedianPeer 75thStandingRankPeer Position
Earnings
Return on Assets1.20%0.60%1.01%1.45%Beats 62%237 / 629
Return on Equity14.44%5.38%9.30%13.28%Beats 81%119 / 629
Net Interest Margin3.97%3.03%3.54%4.05%Beats 71%181 / 629
Efficiency Ratio72.56%58.35%67.79%79.08%Beats 38%389 / 629
Asset Quality
Nonperforming Loans / Loans0.14%0.09%0.46%1.20%Beats 70%174 / 581
Net Charge-Offs / Loans0.00%n/a0.01%0.06%Beats 100%158 / 581
Capital
Tier 1 Capital Ratio8.74%11.24%13.84%18.77%Beats 1%624 / 629
Total Risk-Based Capital Ratio8.74%11.58%14.43%19.66%Beats 1%625 / 629
Equity / Assets8.33%9.09%10.65%13.80%Beats 15%536 / 629
Liquidity & Funding
Loans / Deposits91.30%67.24%80.90%93.48%71st pctl170 / 594
Loans / Assets78.79%53.31%67.71%78.15%77th pctl143 / 629
Brokered Deposits / Depositsn/aNot reported for this institution