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Growth
is also an important aspect of any company's performance. Northern
States Financial Corporation's management has not pursued growth at
the Bank of Waukegan simply for growth's sake. It constantly strives
to create tangible values for its stockholders and customers. Growing
profits, better rates, more flexible
accommodation, a broader range of products and services, and local
responsiveness to the needs of its communities have positioned the
Bank to be among the financial service leaders in Lake County, Illinois.
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Despite
this conservative management approach, during the year 2000, the
Bank of Waukegan enjoyed record growth in several areas. Assets
grew by 12.9% ending the year at $538 million. Loans grew to over
$300 million, an increase of 22%, while deposits also grew to $374
million, an increase of approximately 11.8%. |
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