NORTH SHORE FINANCIAL CORP history

The bank began operating on May 7, 1921, from the front porch of one of the founding families.

In 1932, North Shore became the 13th bank to join the Federal Home Loan Bank of Chicago, providing access to lending funds.

In 1936, the first official North Shore office opened at 1101 Park Avenue in North Chicago, Illinois, providing longer banking hours and more convenience.

1950 During the Great Depression and World War II, North Shore Savings focused on supporting its customers and the surrounding community in this time of need.

In 1970, it was announced that the Peabody Co-operative Bank and the Danvers Co-operative Bank would consolidate into a single bank.

The customer base expanded well beyond North Chicago and Waukegan to encompass all of Lake County, IL. On December 13, 1971, a newly constructed corporate headquarters located at 700 South Lewis Avenue opened to accommodate growth.

1980 North Shore Trust and Savings saw exponential growth throughout the ‘70s and ’80s.

In 1982, George Peabody Co-operative Bank again merged with another prominent area financial institution, this time the Roger Conant Co-operative Bank headquartered in Salem.

In 1991, Wintrust’s current CEO and one of the company’s founders, Ed Wehmer, set up shop in a northern Chicago suburb with a simple idea: to provide an alternative to the big banks.

Under the leadership of then President Francis J. McCormack, in 1996 the bank’s name was officially changed to North Shore Bank.

2004 North Shore Trust and Savings opened its third location in 2004.

Consequently, in 2007 a new Corporate Headquarters was built on Andover Street, Route 114 in Peabody, and later that year David J. LaFlamme was named President of the bank.

In 2014, North Shore Bank and Saugusbank, a Co-operative Bank, entered into a definitive agreement to merge.

In November of 2015, North Shore Bank and Merrimac Savings Bank announced the completion of their merger.

In 2016, North Shore Bank announced that Chief Executive Officer, David J. LaFlamme would retire after a 40-year banking career, and he would be succeeded by the Bank's President, Kevin M. Tierney, Sr., who would assume the role of President and Chief Executive Officer.

In 2019, North Shore Bank merged with Beverly Bank, bringing the bank’s total assets to $1.4 billion, with eighteen full-service branches throughout Essex County and southern New Hampshire.

2021 North Shore Savings and Loan Association was established to help the surrounding community, a mission that stayed true during the Great Depression.