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Northern States Financial Corporation
 

The Northern States Financial Corporation (NSFC) is a $688 million bank holding company for NorStates Bank, a full service commercial bank founded in 1962 with eight branches in Lake County, Illinois. The Bank serves the populations of northeastern Illinois and southeastern Wisconsin. As a full service commercial bank, the Bank attracts deposits; makes commercial, real estate and consumer loans; and operates mortgage banking and trust businesses.

For the three months ending December 31, 2007,net income was $.30 earnings per share as compared with $.21 per share for the same quarter of 2006. Earnings for the year ending December 31, 2007 were $1.05 per share as compared with $.72 per share for 2006.

The Company’s main office is about midway between Chicago and Milwaukee. Much of the Company’s performance over the years is attributable to its location at the seat of Lake County, Illinois, the wealthiest county in the state and long among the fastest growing in population, construction, retail activity and corporate headquarter sites for suburban Chicago. Branch expansions and new product introductions also have enriched the professional service that is a hallmark of the Company.

As its market continues to grow and expand, the Company will continue its efforts to provide value to stockholders and maintain growth and profitability.
Board of Directors
  Fred Abdula
Chairman of the Board & President
Northern States Financial Corporation
and NorStates Bank
President, Air Con Refrigeration
And Heating, Inc.

Kenneth W. Balza
Retired, Bank of Waukegan

Theodore Bertrand
GRI
RE/MAX Showcase of Gurnee

Jack H. Blumberg
Managing Partner
Blumberg & Company

Frank Furlan
President
Northern Illinois Survey Company

 

 Harry Gaples
President
Kleinschmidt, Inc.

James A. Hollensteiner
President
Hollensteiner & Associates

Allan J. Jacobs
CPA of Counsel
Evoy, Kamschulte & Jacobs & Co. LLP

Raymond Mota
President
Mota Construction Co., Inc.

Helen Rumsa
Secretary
Bertrand Bowling Lanes, Inc.



 
Officers
  Fred Abdula
Chairman of the Board & President

Kerry J. Biegay
Vice President
 Thomas Nemeth
Vice President & Treasurer

Helen Rumsa
Secretary
  Stock Quote

To request our Annual Report, 10K or 10Q reports, please email us.
 
   
Investment Metrics
 
bulletEight branches in the wealthiest county (Lake County) in Illinois
bulletDividend yield approximating 3.3%
bulletLong term, experienced employees, many with 20+ years experience