Applications / Mortgage Analytics / Lenders / Minnesota / North Shore Bank of Commerce
Duluth, MN · State member bank · FRS · $583 million assets · 556 loans in 2025
North Shore Bank of Commerce's data, $215Buy the data, $2,110Get Jenner, the SAS-compatible software
556
loans originated, 2025
672
applications, 2025
4
states and territories
0
gaps bigger than at similar lenders
Our analysis, 2025
North Shore Bank of Commerce ranks first among mortgage lenders in Duluth: a home-purchase lender with 10.4% of that market in 2025, though its share fell as its loans declined while the market grew.
It ranked 1 of 318 lenders in Duluth with 10.4% of the market, down 2.4 points from 12.8%; National Bank of Commerce was second. Its originations fell 8% while the whole market grew 10% and similar lenders (state member banks making between half and twice as many loans) 7%. Making fewer loans in a growing market may account for the lower share; its yearly count peaked at 1,386 in 2020 and was 604 in 2024.
Purchases made up 87.1% of its loans and refinances 9.0%. VA loans (guaranteed by the Department of Veterans Affairs) were 5.2% and FHA loans (insured by the Federal Housing Administration) 4.0%, where the typical similar lender made none of either.
Its purchase denial rate was 2.3%, against 7.4% at peers, lower than about seven in eight of them. Higher-priced loans (a rate well above the average for similar loans) were 0.8% of its lending, against 2.4%.
LMI (low- and moderate-income) borrowers took 33.4% of its loans, against 27.7% at peers, more than about seven in ten of them, and up from 20.7% five years before.
Questions the data can answer next
Similar lenders: same lender type, originations between half and twice the lender's in the data year. Written from the 2025 HMDA data and checked figure by figure against it.
FIG. 1 — LOANS ORIGINATED, 2018–2025
Originated means the loan was made: applications denied, withdrawn or not accepted are not counted. North Shore Bank of Commerce took 672 applications in 2025.
SOURCE: FFIEC HMDA, LOANS ORIGINATED (ACTION TAKEN: LOAN ORIGINATED)
FIG. 2 — PRODUCT MIX, 2025
Purchase 87.1% · Refinance 9.0% · Other 2.5% · Home improvement 1.4%
Conventional 90.8% · VA 5.2% · FHA 4.0% · of 556 loans. Purchase: buying a home. Refinance: replacing an existing mortgage, including cash-out. FHA: insured by the Federal Housing Administration. VA: guaranteed by the Department of Veterans Affairs. Conventional: neither.
SOURCE: FFIEC HMDA 2025, LOANS ORIGINATED
Where it lends, 2025
| State | Loans | Share |
|---|---|---|
| Minnesota | 491 | 88.3% |
| Wisconsin | 62 | 11.2% |
| Florida | 2 | 0.4% |
| South Carolina | 1 | 0.2% |
Largest metro areas, 2025
| Metro area | Loans |
|---|---|
| Duluth | 474 |
| Minneapolis-St. Paul-Bloomington | 5 |
| Rochester | 2 |
| Hilton Head Island-Bluffton-Port Royal | 1 |
| Miami-Miami Beach-Kendall | 1 |
| St. Petersburg-Clearwater-Largo | 1 |
Identifiers
| LEI (Legal Entity Identifier, the global company code HMDA has used since 2018) | 549300TWX5Q3V5VXNF89 | 2018–2025 |
| RSSD (the Federal Reserve's identifier for banks and their parents) | 126553 | 2004–2023 |
| Respondent ID (the HMDA filer code before 2018) | 2126553 | 1990–2017 |
Established 14 September 1915. Reported under HMDA 1990-2025.
Mergers, name changes, data editions and corrections: North Shore Bank of Commerce's data.
North Shore Bank of Commerce's data
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North Shore Bank of Commerce and its peers, 2018–2025: every application in the HMDA data, cleaned and corrected, as Parquet files, with the Jenner programs that made these pages.
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Every mortgage application reported under HMDA from 1990 to 2025, cleaned and corrected, every lender followed across name changes and mergers, with the market-share and fair-lending tables behind these pages and the Jenner programs that built them: the warehouse and the datamart, as Parquet files.
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