NSTS Bancorp completes merger into Brookfield Bancshares; stockholders receive $14.31 per share

NSTS Bancorp, Inc.

Merger effective 12:01 a.m. ET Oct 1, 2026; NSTS merged into Brookfield Bancshares and North Shore Trust and Savings became a wholly owned Brookfield subsidiary.
Each NSTS share converted into $14.31 cash; restricted stock and options vested, with total merger consideration of $73,662,000.
Stockholders approved the merger at a Sept 29, 2026 special meeting: 3,762,060 for vs 3,905 against, with 71.69% of outstanding shares represented.
NSTS asked Nasdaq to suspend trading after the Sept 30, 2026 close and file Form 25; Brookfield intends to file a Form 15 to deregister.
Bank CEO Stephen G. Lear and directors Apolonio Arenas and newly appointed Amy Avakian remain on the Bank's board; NSTS officers and directors ceased.

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