Brookfield Bancshares to Acquire NSTS Bancorp for $73.7 Million

Brookfield Bancshares, Inc. entered a merger agreement on May 12, 2026, to acquire NSTS Bancorp, Inc. (NSTS) in a deal valued at $73.7 million.

Deal Structure:

NSTS stockholders will receive approximately $14.28 in cash for each share of NSTS common stock owned, representing a 12.89% premium from the stock’s last close.

Company Profile:

NSTS Bancorp is the holding company of North Shore Trust and Savings, which provides deposit accounts and consumer, mortgage, commercial real estate, and construction loans in Illinois. The company holds total assets of $266.6 million and operates offices in Waukegan, Lindenhurst, and Chicago, Illinois.

Brookfield Bancshares is the holding company of First National Bank of Brookfield, which provides consumer banking, commercial lending, and digital banking services in Illinois. The bank holds total assets of about $410 million.

Deal Details and Timeline:

North Shore Bank will continue to operate under its existing name and federal savings association charter as a subsidiary of Brookfield.

After the acquisition, Stephen Lear will remain on North Shore Bank’s board. One more board member will also be added, chosen jointly by both companies from either North Shore’s current board or the local communities it serves.

Brookfield’s two banking subsidiaries will operate four branches in the Chicago-Naperville-Elgin metro area, with combined assets of more than $600 million.

The deal is anticipated to close in the fourth quarter of 2026.

Olsen Palmer and Vedder Price served as financial and legal advisors, respectively, to NSTS. Meanwhile, Brookfield received financial advice from Angkor Strategic Advisors and legal counsel from Barack Ferrazzano Kirschbaum & Nagelberg.

Brookfield is acquiring NSTS at 0.84 times its tangible book value.

Deal Metrics:

For a thorough understanding of this M&A transaction, interested parties can visit the Deal Metrics page linked below:

Deal Metrics for the acquisition of NSTS Bancorp, Inc. (NSTS) by Brookfield Bancshares, Inc.

Each merger or acquisition’s Deal Metrics page includes:

• A spread history chart tracking the merger from announcement through to completion or failure.
• Every event throughout the merger process, including regulatory approvals, shareholder votes, and more.
• News and SEC filings related to the merger.
• A historical record of deal updates.
• And much more.

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Editor’s Note: Baranjot Kaur contributed to this article