North Shore Bank (Wisconsin)
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| Type | Federal savings bank |
|---|---|
| Founded | 1923 Shorewood, Wisconsin |
| Headquarters | 15700 West Bluemound Road Brookfield, Wisconsin |
Number of locations | 46 branches |
North Shore Bank, FSB is a federal savings bank based in Brookfield, Wisconsin. As of 2021, the bank operates 46 branches: 44 in Wisconsin, and two in Illinois under the name Illinois State Bank.[1]
History[edit | edit source]
The bank was founded in Shorewood in 1923 as the North Shore Building and Loan Association.[2][3] Its Shorewood branch has been located at 4414 North Oakland Avenue since 1941.[4] The following year, the organization's name was changed to the North Shore Savings and Loan Association.[5]
The bank's first branch opened at 9115 West Oklahoma Avenue in Milwaukee in November 1972.[6] Another opened at 6924 North Santa Monica Boulevard in Fox Point in February 1974.[7] North Shore became the first savings and loan in Wisconsin to operate a branch office inside a drugstore when it opened its first Waukesha branch at Stein Drug Store, 200 West Main Street.[8]
By 1981, the bank had four locations in Shorewood, Waukesha, Milwaukee, and Brookfield. It announced plans to acquire Frontier Savings Association, a bank based in Green Bay, in 1982.[10] After receiving regulatory approval, Frontier backed out of the merger, and North Shore acquired only the bank's Two Rivers branch. At the end of 1983, North Shore acquired Southeastern Savings Association and its six locations in Racine County, bringing the bank up to 17 branches.[11][12]
Another planned merger was announced in 1987 with Frontier, which had since been renamed Sunrise Savings and Loan Association.[13] North Shore acquired Sunrise on December 31, 1987, adding its 10 locations to North Shore's 19, with the new bank holding over $700 million in assets.[14] The organization changed its name to North Shore Bank, SSB (State Savings Bank) in early 1989, at the height of the S&L crisis 
that made the "savings and loan" name unpopular.[15][16] Another name change was made in 1990, when the bank federally chartered and became an FSB (Federal Savings Bank).[1]
In 1995, North Shore acquired Badger Bank and its six Milwaukee-area branches.[17][1] [18] North Shore purchased TCF Bank's three locations in the Fox Valley surrounding Appleton, converting them into North Shore branches on September 20, 1999.[19] In 2000, the organization acquired Marquette Savings Bank.[1]
North Shore expanded into Illinois with the acquisition of Illinois State Bank in November 2005.[20] The two Illinois branches continued using the Illinois State Bank name while under North Shore, and are currently in the process of being sold to Royal Financial, Inc.[21][22]
Federal regulators gave North Shore ownership of Maritime Savings Bank after it was shuttered in 2010, acquiring its nine branches, mostly in the Milwaukee area.[23] After the similar 2013 failure of Banks of Wisconsin in Kenosha, North Shore acquired the bank's two locations and fixed assets.[24] In 2016, the bank acquired Layton Park Financial Group Inc., the parent company of Layton State Bank.[25]
Locations[edit | edit source]
References[edit | edit source]
- ↑ 1.0 1.1 1.2 1.3 1.4 "North Shore Bank, FSB", BankFind Suite, Federal Deposit Insurance Corporation , retrieved May 26, 2021.
- ↑ "North Shore Building and Loan Body Formed", Milwaukee Sentinel, March 2, 1923, page 15.
- ↑ Jannene, Jeramey. "North Shore Plans Unique Downtown Bank", Urban Milwaukee, November 1, 2019.
- ↑ "North Shore Has New Home", Milwaukee Sunday News-Sentinel, February 2, 1941, page 24.
- ↑ "It's Savings and Loan", Milwaukee Journal, March 1, 1942, page 35.
- ↑ Full-page advertisement, Milwaukee Journal, November 12, 1972, page 228.
- ↑ "North Shore S&L Gets Branch OK", Milwaukee Journal, February 6, 1974, page 49.
- ↑ "S&L Opens Stein Drugs", Waukesha Daily Freeman, April 23, 1977, page 7.
- ↑ [1]
- ↑ "Frontier, North Shore plan merger", Appleton Post-Crescent, November 4, 1981, page B-8.
- ↑ Pfankuchen, David. "Business bits", Racine Journal Times, December 22, 1983, page 1D.
- ↑ Full-page advertisement, Racine Journal Times, January 2, 1984, page 15.
- ↑ "Sunrise plans to merge with North Shore savings, loan", Green Bay Press-Gazette, November 11, 1987, page 4.
- ↑ "S&L merger completed", Green Bay Press-Gazette, January 1, 1988, page 14.
- ↑ "Name changes OK'd for two savings banks", Green Bay Press-Gazette, February 4, 1989, page 11.
- ↑ Matthews, John. "Area thrifts becoming 'savings banks'", Racine Journal Times, April 6, 1989, page 5B.
- ↑ "2 state thrifts to merge", Green Bay Press-Gazette, August 21, 1995, page B-7.
- ↑ "North Shore Bank: 90 Years of You", North Shore Bank, 2013.
- ↑ "Northshore Bank acquires new facilities in Appleton" [sic], Appleton Post-Crescent, September 21, 1999, page D-2.
- ↑ "North Shore Bank completes purchase of Illinois bank", Milwaukee Business Journal, December 1, 2005.
- ↑ Lesk, Sari. "North Shore Bank selling Illinois branches to Royal Financial", Milwaukee Business Journal, February 5, 2020.
- ↑ "Illinois State Bank", northshorebank.com, retrieved May 27, 2021.
- ↑ Gallagher, Kathleen. "Feds close Maritime Savings Bank; North Shore takes over branches", Milwaukee Journal Sentinel, September 21, 2010.
- ↑ Gores, Paul. "Regulators close Kenosha bank: Banks of Wisconsin fails; assets sold to North Shore Bank", Milwaukee Journal Sentinel, May 31, 2013.
- ↑ Gores, Paul. "Layton State Bank merges into North Shore Bank", Milwaukee Journal Sentinel, October 31, 2016.