Announcement • 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. Announcement • 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 Announcement • 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. 
