North Shore Bank of Commerce: how it compares with its peers
Against 74 MN banks with half to twice its assets, North Shore Bank of Commerce's strongest measure in Q2 2026 is net interest margin (4.40% vs. a 3.93% peer median). Its weakest relative measure is assets per employee ($4.6M vs. $7.9M).
| Measure | North Shore Bank of Commerce | Peer median | Rank |
|---|---|---|---|
| Return on assets Annualized net income over average assets. | 1.56% | 1.31% | Top third Ahead of 73% of peers |
| Net interest margin Annualized net interest income over earning assets. | 4.40% | 3.93% | Top third Ahead of 84% of peers |
| Efficiency ratio Noninterest expense per dollar of revenue. Lower is better. | 72.56% | 61.78% | Bottom third Ahead of 19% of peers |
| Assets per employee Total assets over full-time-equivalent staff. | $4.6M | $7.9M | Bottom third Ahead of 5% of peers |
| Loans to deposits Net loans and leases over total deposits. | 90.72% | 85.12% | Context |
What it means for lending operations
Its efficiency ratio of 72.56% is above the 61.78% peer median: it spends more to earn each dollar of revenue than most banks its size. Staff time on manual borrower verification (collecting pay stubs, bank statements, and employment letters, then re-keying them) is one of the larger controllable costs behind that number.
Banks closest in size
- Citizens Bank Minnesota New Ulm, MN · $596M
- American Heritage National Bank Long Prairie, MN · $605M
- WNB FINANCIAL, N.A. Winona, MN · $584M
- Scale Bank Edina, MN · $627M
- First Independent Bank Russell, MN · $632M
- Community Resource Bank Northfield, MN · $556M
Questions about North Shore Bank of Commerce
How big is North Shore Bank of Commerce?
North Shore Bank of Commerce, established in 1915, is headquartered in Duluth, MN. It reported $599M in total assets in its Q2 2026 FDIC call report and operates 7 offices.
What is North Shore Bank of Commerce's return on assets?
1.56% annualized in Q2 2026, against a 1.31% median for 74 MN banks with half to twice its assets, ahead of 73% of them.
What is North Shore Bank of Commerce's efficiency ratio?
72.56% in Q2 2026: it spent about 73 cents in noninterest expense for each dollar of revenue. The peer median is 61.78%, and lower is better.
Is North Shore Bank of Commerce growing its loans?
Net loans grew 9.7% over the year to Q2 2026, while deposits grew 10.5%.
Sources and method
Figures are from the FDIC’s public call report data for the quarter ending 06/30/2026, via FDIC BankFind. Return on assets and net interest margin are annualized year to date. Peers are MN banks with half to twice its assets in the same quarter, excluding this bank. The page refreshes daily, so new quarters appear as banks file. Compare another bank or see every Minnesota bank ranked.