Aankondiging • May 14
Brookfield Bancshares, Inc. signed a definitive agreement to acquire NSTS Bancorp, Inc. (NasdaqCM:NSTS) for $59.1 million. Brookfield Bancshares, Inc. signed a definitive agreement to acquire NSTS Bancorp, Inc. (NasdaqCM:NSTS) for $59.1 million on May 12, 2026. A cash consideration valued at $14.28 per share will be paid by Brookfield Bancshares, Inc. North Shore will continue to operate under its existing name and federal savings association charter as a subsidiary of Brookfield. Brookfield hereby confirms that it has, or will have, sufficient cash on hand to fund the payment of the Merger Consideration at the time of the Closing. In case of termination of transaction, seller will pay a termination fee of $3 million.
Under the Merger Agreement, the Bank’s President and Chief Executive Officer, Stephen G. Lear, will remain on the Bank’s board of directors after the acquisition. One additional individual, to be mutually agreed to by the parties, from the Bank’s current board of directors or from the communities served by the Bank, will also serve on the Bank’s board of directors after the acquisition.
The transaction is subject to approval of merger agreement by target board, approval of offer by target shareholders, approval by regulatory board / committee and approval of offer by acquirer board. The deal has been unanimously approved by the board. The expected completion of the transaction is in the fourth quarter of 2026.
Olsen Palmer LLC acted as financial advisor and fairness opinion provider for NSTS Bancorp, Inc. Daniel C. McKay, II, Esq. and James W. Morrissey, Esq. of Vedder Price P.C. acted as legal advisor for NSTS Bancorp, Inc. Angkor Strategic Advisors acted as financial advisor for Brookfield Bancshares, Inc. Abdul R. Mitha, Esq. of Barack Ferrazzano Kirschbaum & Nagelberg LLP acted as legal advisor for Brookfield Bancshares, Inc. Aankondiging • Apr 21
NSTS Bancorp, Inc., Annual General Meeting, May 27, 2026 NSTS Bancorp, Inc., Annual General Meeting, May 27, 2026. Location: at 700 s. lewis ave., waukegan, waukegan, United States Aankondiging • Apr 10
NSTS Bancorp, Inc. Announces Executive Changes North Shore Trust and Savings, (the "company”), the holding company for North Shore Trust and Savings (the “Bank”), announced the recent passing of Nathan E. Walker, President of the Bank and Executive Vice President of the Company. Mr. Walker began his career as a teller in 1996 and, through dedication, leadership, and an unwavering commitment to customers and communities, rose to serve as Chief Executive Officer and President of the Bank and Executive Vice President of the Company since 2022. Stephen G. Lear, President and Chief Executive Officer of the Company, has been appointed President of the Bank. Mr. Lear has served as Chairman of the Board of Directors, Chief Executive Officer and President of the Company since 2012, and Chairman of the Board of Directors of the Bank since 2012, and as a director since 2003. Mr. Lear served as the Chief Executive Officer of the Bank from 1997 to 2022, when he was succeeded by Mr. Walker. Aankondiging • Jun 19
NSTS Bancorp, Inc. Appoints John Pucin to Board of Directors NSTS Bancorp, Inc. announced that Mr. John S. Pucin has been appointed to the Board of Directors of both the Company and the Bank. Mr. Pucin was appointed to fill the vacancy in the class of directors whose term expires at the Company’s annual stockholder meeting in 2027. Mr. Pucin currently serves as Senior Vice President and Corporate Counsel for Caine & Weiner Company, Inc. and the managing partner of the Law Office of John S. Pucin, P.C. He graduated from Xavier University with a B.S.B.A./Finance and from the Capital University Law School with a Juris Doctor degree. Mr. Pucin has been a member of the Commercial Law League for over twenty years and is a past chair of the Midwest Region. Aankondiging • Apr 23
NSTS Bancorp, Inc. and North Shore Trust and Savings Appoint Emily E. Ansani to Board of Directors NSTS Bancorp, Inc. (the Company), the holding company for North Shore Trust and Savings (the Bank), announced that Ms. Emily E. Ansani has been appointed to the Board of Directors of both the Company and the Bank. Ms. Ansani was appointed to fill the vacancy in the class of directors whose term expires at the Company’s annual stockholder meeting in 2025. Ms. Ansani previously served as a Vice President with Bank of America, where she held various positions in Capital Markets Risk Management, the Futures Clearing Division, the Special Assets Division and the Global Corporate Bank. She graduated from the University of Dayton with a Bachelors of Science degree in Finance. Ms. Ansani served on the Board of Directors of Siena Catholic Schools of Racine from 2017 through 2023. While on such Board she was Board treasurer for two years and continues to serve on the Finance Committee. Aankondiging • Apr 06
NSTS Bancorp, Inc., Annual General Meeting, May 22, 2024 NSTS Bancorp, Inc., Annual General Meeting, May 22, 2024, at 10:00 Central Standard Time. Location: North Shore Trust and Savings located at 700 S. Lewis Ave, Waukegan Illinois United States Agenda: To consider the election of two directors identified in the Proxy Statement for a term expiring at the 2027 Annual Meeting; and to consider the ratification of the appointment of Plante & Moran, PLLC as the Company’s independent registered public accounting firm for the year ending December 31, 2024. Reported Earnings • Nov 16
Third quarter 2023 earnings released: US$0.046 loss per share (vs US$0.024 profit in 3Q 2022) Third quarter 2023 results: US$0.046 loss per share (down from US$0.024 profit in 3Q 2022). Net loss: US$232.0k (down 297% from profit in 3Q 2022). Aankondiging • Nov 05
NSTS Bancorp Receives Non-Compliance Notice From Nasdaq On November 1, 2023, NSTS Bancorp, Inc. (the “Company”) notified The Nasdaq Stock Market (“Nasdaq”) of the recent unexpected passing of Mr. Kevin Dolan. At the time of his death, Mr. Dolan was a director of the Company and a member of its Audit Committee and Compensation Committee. In the notice, the Company further notified Nasdaq that, as a result of Mr. Dolan’s passing, the Company’s Board of Directors currently consists of six members, only three of whom are “independent directors” as defined in Rule 5605(a)(2) of the Nasdaq listing standards, and the Company’s Audit Committee currently consists of only two members, rather than the minimum three members as required by Rule 5605(c)(2)(A) of the Nasdaq listing standards. Accordingly, the Company does not meet the requirements of: Rule 5605(b)(1) of the Nasdaq listing standards, which requires that a majority of the Board of Directors of the Company be comprised of “independent directors” as defined in Rule 5605(a)(2) of the Nasdaq listing standards; and Rule 5605(c)(2)(A) of the Nasdaq listing standards, which requires that the Company maintain an audit committee of at least three members, each of whom must meet specified criteria, including certain independence criteria. On November 2, 2023, the Company received a letter from Nasdaq confirming that, due to Mr. Dolan’s death, the Company has temporarily fallen out of compliance with the requirements of Rule 5605(b)(1) and Rule 5605(c)(2)(A) of the Nasdaq listing standards. In accordance with Rule 5605(b)(1)(A) and Rule 5605(c)(4) of the Nasdaq listing standards, the Company has until the earlier of its next annual shareholders’ meeting or October 7, 2024 to regain compliance; provided, however, that if the next annual shareholders’ meeting is held before April 4, 2024, then the Company must be in compliance no later than April 4, 2024. Prior to the end of the cure period described above, the Company's Board of Directors intends to fill the vacancy on the Company’s Board of Directors and its Audit Committee with a person who meets the requirements of Rule 5605(b)(1) and Rule 5605(c)(2)(A) of the Nasdaq listing standards. Reported Earnings • Aug 13
Second quarter 2023 earnings released: US$0.025 loss per share (vs US$0.03 profit in 2Q 2022) Second quarter 2023 results: US$0.025 loss per share (down from US$0.03 profit in 2Q 2022). Revenue: US$1.70m (down 16% from 2Q 2022). Net loss: US$126.0k (down 185% from profit in 2Q 2022). Reported Earnings • May 14
First quarter 2023 earnings released: EPS: US$0.034 (vs US$0.07 loss in 1Q 2022) First quarter 2023 results: EPS: US$0.034 (up from US$0.07 loss in 1Q 2022). Revenue: US$1.81m (up 40% from 1Q 2022). Net income: US$170.0k (up US$449.0k from 1Q 2022). Profit margin: 9.4% (up from net loss in 1Q 2022). The move to profitability was driven by higher revenue. Board Change • Apr 02
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 1 experienced director. 5 highly experienced directors. Independent Director Kevin Dolan was the last director to join the board, commencing their role in 2021. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Nov 16
Third quarter 2022 earnings released Third quarter 2022 results: EPS: US$0.024. Net income: US$118.0k (up US$101.0k from 3Q 2021). Reported Earnings • Aug 13
Second quarter 2022 earnings released Second quarter 2022 results: EPS: US$0.03. Net income: US$149.0k (up 122% from 2Q 2021). Aankondiging • Jul 27
NSTS Bancorp, Inc. Appoints Nathan E. Walker as Executive Vice President NSTS Bancorp, Inc. (the Company), the holding company for North Shore Trust and Savings (the Bank), announced that Nathan E. Walker has been named Executive Vice President of the Company. Stephen G. Lear, who previously served as Chief Executive Officer of the Bank will continue as Chairman of the Board of Directors of the Bank as well as Chairman, President and CEO of the Company. Walker has been with the Bank since 1996 and previously served as Senior Vice President of Retail Banking between 2010 and 2020. Walker has served as President and Chief Operating Officer of the Bank since November 2020. Reported Earnings • May 15
First quarter 2022 earnings released First quarter 2022 results: US$0.07 loss per share. Net loss: US$279.0k (loss widened US$271.9k from 1Q 2021). Aankondiging • Apr 16
NSTS Bancorp, Inc., Annual General Meeting, May 25, 2022 NSTS Bancorp, Inc., Annual General Meeting, May 25, 2022, at 10:00 Central Standard Time. Location: office of North Shore Trust and Savings at 700 S. Lewis Ave Waukegan Illinois United States Agenda: To consider the election of two directors identified in the proxy statement for a term expiring at the 2025 Annual Meeting; and to consider the ratification of the appointment of Plante & Moran PLLC as independent registered public accounting firm for the year ending December 31, 2022. Recent Insider Transactions • Jan 21
VP & Chief Lending Officer recently bought US$300k worth of stock On the 18th of January, Amy Avakian bought around 30k shares on-market at roughly US$10.00 per share. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought US$2.1m more in shares than they have sold in the last 12 months. Aankondiging • Jan 20
NSTS Bancorp, Inc. has completed an IPO in the amount of $52.9 million. NSTS Bancorp, Inc. has completed an IPO in the amount of $52.9 million.
Security Name: Common Stock
Security Type: Common Stock
Securities Offered: 5,290,000
Price\Range: $10
Transaction Features: Demutualization; ESOP Related Offering 