secwatch.observer — SEC 8-K summary
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Issuer:     STEELE BANCORP INC (STLE)
CIK:        0000779227
Form:       8-K
Filed at:   2025-08-01T23:59:59+00:00
Accession:  0001437749-25-024286
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.65
Item codes: 2.01, 5.02, 5.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Mifflinburg and Northumberland complete merger, creating Steele Bancorp with ~$1.34B in assets
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- Northumberland shareholders to receive 1.1850 Steele shares per share; aggregate ~1.55M shares issued.
- Combined company: $1.34B assets, $1.16B deposits, $904M loans, 13 offices in four Pennsylvania counties.
- J. Donald Steele Jr. named Chairman; Jeffrey Kapsar CEO; J. Todd Troxell Corporate Secretary with 3-year employment agreement ($296,750 salary).
- Related-party Nottingham Loans ($9.6M total, $4.2M at Norry) classified as 'special mention'; management deems collectability risk not material.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/779227/000143774925024286/0001437749-25-024286-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/779227/000143774925024286/miff20250729_8k.htm
  HTML page:      https://secwatch.observer/filing/0001437749-25-024286

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