Extracted from this filing and checked against the source text.
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
NSTS Bancorp, Inc. entered into Agreement and Plan of Merger with Brookfield Bancshares, Inc. valued at $73,662,000 (effective 2026-05-12).
- Action
- entry
- Agreement
- merger
- Counterparty
- Brookfield Bancshares, Inc.
- Value
- $73,662,000
- Effective
- 2026-05-12
Exact text from the filing
the Company will merge with and into a newly formed Delaware corporation and wholly owned subsidiary of Parent, BRKD Merger Sub Inc. (“ Parent Merger Sub ”), with the Company as the surviving corporation (the “ Merger ”) and (2) immediately following the Merger, the Company will be merged with and into Parent, with Parent surviving the merger (the “ Second Merger ”). Following the Second Merger, North Shore Trust and Savings, a federally-chartered stock savings institution with its principal office in Waukegan, Illinois (the “ Bank ”), will become a wholly-owned subsidiary of Parent. The Bank will continue to operate under its existing name and federal savings association charter as a subsidiary of Parent. Under the terms of the Merger Agreement, each share of common stock, par value $0.01 per share, of the Company (“ Company Stock ”) that is issued and outstanding at the effective time of the Merger (the “ Effective Time ”), will be converted into the right to receive cash in an aggre
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