NSTS Bancorp (NSTS) appoints Stephen Lear to lead North Shore Trust after Walker’s death
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.
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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.
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holding company financial
emerging growth company regulatory
Exhibit 99.1 regulatory
Chief Executive Officer financial
SECURITIES AND EXCHANGE COMMISSION
PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
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Item 5.02.
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Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
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Item 8.01.
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Other Events.
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Financial Statements and Exhibits.
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Exhibit
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Description
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99.1
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Press Release dated April 9, 2026
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104
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Cover Page Interactive Data File (embedded within the Inline XBRL document)
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NSTS Bancorp, Inc.
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Date: April 9, 2026
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By:
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/s/ Stephen G. Lear
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Name:
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Stephen G. Lear
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Title:
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President and Chief Executive Officer
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Exhibit 99.1
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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.
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.
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.