NSTS Bancorp divests mortgage lending division OLCM as condition of pending merger with Brookfield Bancshares

NSTS Bancorp, Inc.

As of June 1, 2026, 12 OLCM employees left; 4 more expected to leave by August 3, 2026.
Assets including leases, contracts, trademark, and IT assets transferred to an unaffiliated national mortgage lender.
Substantial majority of former OLCM employees hired by the acquiring mortgage lender.
Company expects no material gain/loss or material expenses from the OLCM divestiture.
Divestiture was a condition of the previously announced merger with Brookfield Bancshares (May 12, 2026).

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