News

NSB Earns 5-Star Rating

BauerFinancial Gives NSB Their Strongest Rating for Financial Soundness

North Shore Bank has earned and sustained BauerFinancial’s strongest 5-Star Superior rating for 73 consecutive quarters. 

The prestigious 5-Star rating is earned by fewer than 10% of the nation’s banks.  The rating received by North Shore Bank is given to financial institutions that are sound in every respect. In addition to the capital ratio, other criteria are used to determine the Star-Rating. Some of these include but are not limited to: profitability/loss trend, evaluating the level of delinquent loans, chargeoffs and repossessed assets, the market versus book value of the investment portfolio, regulatory supervisory agreements, the community reinvestment rating (CRA), historical data and liquidity.

David J. LaFlamme, President and Chief Executive Officer of North Shore Bank stated, “This rating is a credit to our employees, management staff and Board of Directors. For over 120 years, North Shore Bank has been dedicated to serving the people and businesses of local North Shore communities.  And, we plan to keep on serving their needs for many years to come.” 

BauerFinancial, Inc. has been analyzing and reporting on the financial condition of the nation’s banking industry since 1983 and has earned the reputation of “the nation’s bank rating service”.  They are the source for unbiased, independent bank and credit union star-ratings.  No institution pays for its rating, nor can they avoid a rating.

North Shore Bank, established in 1888, is a full-service community bank based in Peabody. The Bank has eight branches located in five North Shore communities including Beverly, Danvers, Middleton, Peabody, and Salem. The Bank also maintains an online banking presence at northshore-bank.com.

North Shore Bank is a member of the FDIC and a member of the SIF.