NSTS Bancorp names Lear bank CEO after Walker’s passing

NSTS Bancorp, Inc., holding company for North Shore Trust and Savings, announced the passing of Nathan E. Walker, Executive Vice President of the Company and Chief Executive Officer and President of the Bank.

Filing Impact

(Moderate)

Filing Sentiment

(Neutral)

Form Type

8-K

Rhea-AI Filing Summary

NSTS Bancorp, Inc., holding company for North Shore Trust and Savings, announced the passing of Nathan E. Walker, Executive Vice President of the Company and Chief Executive Officer and President of the Bank. Walker began his career as a teller in 1996 and had led the Bank since 2022.

Effective April 9, 2026, Stephen G. Lear, already Chairman, President and Chief Executive Officer of the Company, was appointed Chief Executive Officer and President of the Bank, with no changes to his compensation. Lear previously served as the Bank’s Chief Executive Officer from 1997 to 2022.

As of December 31, 2025, North Shore Trust and Savings had $266.6 million in total assets and operates from its headquarters in Waukegan, Illinois, plus two additional full-service branches in Waukegan and Lindenhurst, Illinois.

Insights

NSTS faces loss of a key bank leader but relies on an experienced internal successor.

The company reports the passing of Nathan E. Walker, who had served as Chief Executive Officer and President of North Shore Trust and Savings and Executive Vice President of NSTS Bancorp since 2022. This is a significant personal and organizational event for a relatively small community-focused institution.

The board appointed Stephen G. Lear, already Chairman, President and Chief Executive Officer of NSTS Bancorp, as Chief Executive Officer and President of the Bank, with no change to his compensation. Lear previously led the Bank from 1997 to 2022, which suggests operational continuity and familiarity with its roughly $266.6 million in assets as of December 31, 2025.

Future disclosures in company filings may provide additional detail on how responsibilities are allocated among senior leaders following this transition, but the current information emphasizes continuity and the company’s appreciation for Walker’s long service and cultural impact.

8-K Event Classification

3 items: 5.02, 8.01, 9.01

3 items

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers Governance

Key personnel changes including departures, elections, or appointments of directors and executive officers.

Item 8.01 Other Events Other

Voluntary disclosure of events the company deems important to shareholders but not covered by other items.

Item 9.01 Financial Statements and Exhibits Exhibits

Financial statements, pro forma financial information, or exhibit attachments filed with this report.

Key Figures

Total assets: $266.6 million Bank CEO tenure Walker: since 2022 Lear prior Bank CEO period: 1997 to 2022 +1 more

4 metrics

Total assets $266.6 million North Shore Trust and Savings as of December 31, 2025

Bank CEO tenure Walker since 2022 Nathan E. Walker as CEO and President of the Bank

Lear prior Bank CEO period 1997 to 2022 Stephen G. Lear’s earlier tenure as Bank CEO

Walker career start 1996 Nathan E. Walker began as a teller

Key Terms

holding company, emerging growth company, Exhibit 99.1, Chief Executive Officer

4 terms

holding company financial

"NSTS Bancorp, Inc. (the “Company”), the holding company for North Shore Trust and Savings"

A holding company is an organization that owns enough shares of other businesses to control them but usually does not run their day-to-day operations. Think of it as an umbrella or parent that lets investors gain exposure to several companies through one vehicle; its value depends on the performance, risks, dividends and debts of the companies it holds, so it matters for assessing diversification, control and consolidated financial health.

emerging growth company regulatory

"Emerging growth company"

An emerging growth company is a recently public or smaller public firm that qualifies for temporary, lighter regulatory and disclosure rules to reduce the cost and effort of being public. For investors, it means the company may provide less historical financial detail and face fewer reporting requirements than larger firms, so it can grow more quickly but also carries higher uncertainty—like buying a promising early-stage product with fewer user reviews.

Exhibit 99.1 regulatory

"A copy of the press release is attached hereto as Exhibit 99.1"

Exhibit 99.1 is a label used in regulatory filings to identify a specific attached document, most often a company press release or investor presentation filed with securities regulators. For investors it matters because it marks an official, contemporaneous source of information directly tied to a filing—like the original news article pinned to a legal record—so traders and analysts treat it as an authoritative statement that can move a stock or clarify a company’s situation.

Chief Executive Officer financial

"Chief Executive Officer and President of the Company’s bank subsidiary, North Shore Trust and Savings"

A chief executive officer (CEO) is the top leader of a company, responsible for making major decisions, setting goals, and guiding the organization’s overall direction. Think of the CEO as the captain of a ship, steering it toward success. Investors pay close attention to the CEO because their leadership and strategy can significantly influence the company's performance and future growth.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What leadership change did NSTS (NSTS) announce at North Shore Trust and Savings?

NSTS announced that Stephen G. Lear, already President and CEO of NSTS Bancorp, was appointed Chief Executive Officer and President of North Shore Trust and Savings. He previously led the Bank from 1997 to 2022, providing continuity after Nathan E. Walker’s passing.

Who was Nathan E. Walker at NSTS Bancorp (NSTS) and its bank subsidiary?

Nathan E. Walker was Executive Vice President of NSTS Bancorp and Chief Executive Officer and President of North Shore Trust and Savings. He began as a teller in 1996 and, since 2022, led the Bank with a focus on employees, customers, and community relationships.

Did NSTS Bancorp (NSTS) change Stephen G. Lear’s compensation with his new Bank role?

NSTS stated there is no change to Stephen G. Lear’s compensation arrangements as a result of his appointment as Chief Executive Officer and President of North Shore Trust and Savings. He continues to serve as Chairman, President and Chief Executive Officer of NSTS Bancorp.

What is the size of North Shore Trust and Savings within NSTS Bancorp (NSTS)?

As of December 31, 2025, North Shore Trust and Savings had total assets of $266.6 million. The Bank operates from its headquarters and main office in Waukegan, Illinois, along with two additional full-service branch offices in Waukegan and Lindenhurst, Illinois.

How long has Stephen G. Lear been leading NSTS Bancorp (NSTS) and its bank?

Stephen G. Lear has served as Chairman, Chief Executive Officer and President of NSTS Bancorp and Chairman of the Bank’s board since 2012. He previously served as Chief Executive Officer of North Shore Trust and Savings from 1997 to 2022 before Nathan E. Walker assumed that role.

What did NSTS Bancorp (NSTS) say about Nathan E. Walker’s impact on the Bank?

NSTS highlighted that Nathan E. Walker led with courage, integrity and heart, supporting employees, championing customers and shaping the Bank’s culture. The company expressed deep gratitude for his service and stated his leadership and commitment will continue to inspire the organization every day.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 04/09/2026 - 04:18 PM

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported): April 4, 2026

NSTS Bancorp, Inc.

(Exact Name of Registrant as Specified in Its Charter)

Delaware

(State or Other Jurisdiction of Incorporation)

001-41232 (Commission File Number)	87-2522769 (I.R.S. Employer Identification No.)

700 S. Lewis Avenue Waukegan, Illinois (Address of Principal Executive Offices)	60085 (Zip Code)

(847) 336-4430

(Registrant’s Telephone Number, Including Area Code)

Not Applicable
(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common Stock	NSTS	NASDAQ Capital Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☒

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 5.02.

Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On April 4, 2026, Nathan E. Walker, Executive Vice President of NSTS Bancorp, Inc. (the “Company”), and Chief Executive Officer and President of the Company’s bank subsidiary, North Shore Trust and Savings (the “Bank”), passed away.

On April 9, 2026, Stephen G. Lear, President and Chief Executive Officer of the Company, was appointed Chief Executive Officer and President of the Bank. Mr. Lear has served as Chairman of the Board of Directors, Chief Executive Officer and President of the Company since 2012, and Chairman of the Board of Directors of the Bank since 2012, and as a director since 2003. Mr. Lear previously served as Chief Executive Officer of the Bank from 1997 to 2022, when he was succeeded by Mr. Walker. There is no change to Mr. Lear’s compensation arrangements as a result of this appointment.

Item 8.01.

Other Events.

On April 9, 2026, the Company issued a press release announcing the recent passing of Mr. Walker. Mr. Walker served as President and Chief Executive Officer of the Bank and Executive Vice President of the Company since 2022. Mr. Walker began his career as a teller and, through dedication, leadership, and an unwavering commitment to our customers and communities, rose to serve as our CEO and President.

The Company is extremely grateful for Mr. Walker’s service and commitment to the Company and the Bank. His leadership, character, and commitment to North Shore Trust and Savings will continue to inspire us every day. The Company’s Board of Directors and management extend their sincerest condolences to Mr. Walker’s family.

On April 9, 2026, Stephen G. Lear, President and Chief Executive Officer of the Company was appointed Chief Executive Officer and President of the Bank.

A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.

Item 9.01.

Financial Statements and Exhibits.

(d) Exhibits.


Exhibit No.		Description
99.1		Press Release dated April 9, 2026

104		Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	NSTS Bancorp, Inc.

Date: April 9, 2026	By:	/s/ Stephen G. Lear
	Name:	Stephen G. Lear
	Title:	President and Chief Executive Officer

Exhibit 99.1

FOR IMMEDIATE RELEASE

Contact:

Stephen G. Lear

Chairman, President and Chief Executive Officer

slear@northshoretrust.com

(847) 336-4430

NSTS Bancorp, Inc. Announces Passing of Nathan E. Walker, Chief Executive Officer and President of North Shore Trust and Savings

Waukegan, IL, April 9, 2026 – NSTS Bancorp, Inc. (the “Company”), the holding company for North Shore Trust and Savings (the “Bank”), announced today the recent passing of Nathan E. Walker, Chief Executive Officer and President of the Bank and Executive Vice President of the Company. Mr. Walker began his career as a teller in 1996 and, through dedication, leadership, and an unwavering commitment to our customers and communities, rose to serve as Chief Executive Officer and President of the Bank and Executive Vice President of the Company since 2022. Mr. Walker led with courage, integrity, and heart. He supported our employees, championed our customers, and guided our bank with steady vision and compassion. His impact can be seen in the relationships he built, the lives he touched, and the culture he helped shape.

Stephen G. Lear, President and Chief Executive Officer of the Company, has been appointed Chief Executive Officer and President of the Bank. Mr. Lear has served as Chairman of the Board of Directors, Chief Executive Officer and President of the Company since 2012, and Chairman of the Board of Directors of the Bank since 2012, and as a director since 2003. Mr. Lear served as the Chief Executive Officer of the Bank from 1997 to 2022, when he was succeeded by Mr. Walker.

About NSTS Bancorp, Inc. and North Shore Trusts and Savings

NSTS Bancorp Inc. is the holding company of North Shore Trust and Savings. As of December 31, 2025, North Shore Trust and Savings had total assets of $266.6 million in assets and operates from its headquarters and main banking office in Waukegan, Illinois, as well as two additional full-service branch offices located in Waukegan and Lindenhurst, Illinois, respectively. For over 100 years, North Shore Trust and Savings has served the local communities where it operates and has deep and longstanding relationships with its businesses and retail customers as well as local municipalities.

Source: View Original Filing on SEC EDGAR

Filing Exhibits & Attachments

5 documents

Press Releases

EX-99.1 EXHIBIT 99.1 6.4 KB

NSTS Bancorp names Lear bank CEO after Walker’s passing

Rhea-AI Filing Summary

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