MergerMay 12, 2026, 05:17 PM
NSTS Bancorp to Merge with Brookfield Bancshares for $73.7M
AI Summary
NSTS Bancorp, Inc. has entered into a definitive merger agreement with Brookfield Bancshares, Inc., where Brookfield will acquire NSTS in an all-cash transaction valued at approximately $73.7 million. Under the terms, NSTS stockholders will receive approximately $14.28 per share. Following the merger, North Shore Trust and Savings will operate as a wholly-owned subsidiary of Brookfield, and NSTS's shares will no longer trade on the Nasdaq Capital Market. The transaction is expected to close in Q4 2026, subject to regulatory and stockholder approvals.
Key Highlights
- NSTS Bancorp, Inc. to merge with Brookfield Bancshares, Inc. in an all-cash transaction.
- Total transaction value is approximately $73.7 million.
- NSTS stockholders to receive approximately $14.28 in cash per share.
- North Shore Trust and Savings will become a wholly-owned subsidiary of Brookfield.
- Stephen G. Lear, North Shore's President & CEO, will remain on the Bank's board.
- Transaction is anticipated to close in the fourth quarter of 2026.
- NSTS's shares will no longer trade on the Nasdaq Capital Market post-completion.
- Combined banking subsidiaries will operate four branches with over $600 million in assets.
Price Impact
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