Strong, Steady Performance in 2009
A message from President and CEO Jim McKenna
It is with great appreciation and optimism that I wish you a Happy New Year. I hope that 2010 is a prosperous year for you, our country and the communities we live in.
I am pleased to report that North Shore Bank and its Illinois State Bank division continue to be one of the strongest banks in the country with a fortress-like balance sheet. While other banks have been in the headlines for the wrong reasons, our performance has remained strong and consistent.
With over $1.8 billion in assets and almost $216 million in total capital, we have continued to be among the best capitalized banks with an industry-leading capital position -- tangible equity ratio at 10.54% of assets and 15.83% of total risk-based assets.
Our conservative approach to lending -- we never did sub-prime lending nor did we lend to speculative real estate projects in the Sunbelt -- reflects the values of the organizations and customers we serve. I am proud to report that we did not take taxpayer-funded TARP funds. Because of our strong balance sheet, which doesn’t include any derivatives or brokered deposits, strong capital position, and solid credit quality, TARP funds provided no advantage to our customers.
Throughout the year, we were able to make loans to creditworthy borrowers and to expand our presence into the communities of Mequon and Grafton/Cedarburg, Wisconsin. As a result, many families were able to secure a more stable financial future by refinancing their homes.
And through this all we stayed committed to our communities. In 2009 we supported hundreds of community activities, including financial seminars, neighborhood celebrations and philanthropic events. And our community calendar for 2010 is just as full.
We are particularly grateful that our customers showed great faith in us by depositing almost $100 million of additional funds with us this past year. There is no safer place than Illinois State Bank for our customers to put their money.
As always, I thank you for your business and promise that we will continue to support the prosperity of the communities we serve in a responsible manner consistent with our mutual values.
Related Information
Still have questions? We can help.
- E-mail us.
- Call us at 877.672.2265.
(8:30 a.m. until 7:00 p.m. CST, Monday through Friday, 9:00 am until 3:00 pm CST, Saturdays, & 10:00 am until 1:00pm CST, Sundays, excluding bank holidays)
- Stop by your neighborhood branch.
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