NSTS Bancorp ESOP Amends Stake, Holds 431,836 Shares

TL;DR

**NSTS Bancorp's employee stock plan still owns a huge chunk of the company, showing strong insider belief.**

AI Summary

The North Shore Trust & Savings Employee Stock Ownership Plan Trust (ESOP) has updated its ownership stake in NSTS Bancorp, Inc. (NSTS) as of December 31, 2023. The ESOP now beneficially owns a total of 431,836 shares of NSTS common stock, representing a significant portion of the company. This filing, an amendment to a previous SC 13G, indicates a change in their holdings, which is important for investors as it shows a key insider group's continued substantial investment in the company.

Why It Matters

This filing reveals that a major insider, the employee stock ownership plan, maintains a substantial holding in NSTS Bancorp, signaling confidence from those closest to the company's operations.

Risk Assessment

Risk Level: low — This filing indicates stable, significant insider ownership, which generally reduces investment risk by aligning employee interests with shareholder value.

Analyst Insight

A smart investor would view this significant and stable insider ownership by the ESOP as a positive signal, suggesting alignment of employee interests with long-term company performance, and might consider it a factor in their investment decision for NSTS Bancorp.

Key Numbers

• 431,836 — Aggregate Shares Beneficially Owned (total shares held by the North Shore Trust & Savings Employee Stock Ownership Plan Trust in NSTS Bancorp, Inc.)
• 388,212 — Sole Voting Power Shares (shares over which the ESOP has exclusive voting control)
• 43,624 — Shared Voting Power Shares (shares over which the ESOP shares voting control)
• 431,836 — Sole Dispositive Power Shares (shares over which the ESOP has exclusive power to sell or dispose)
• $0.01 — Par Value per Share (the stated value of each common stock share of NSTS Bancorp, Inc.)

Key Players & Entities

• NSTS Bancorp, Inc. (company) — the issuer of the securities
• North Shore Trust & Savings Employee Stock Ownership Plan Trust (company) — the reporting person and beneficial owner
• Illinois (company) — place of organization for the reporting person
• December 31, 2023 (date) — date of event requiring the filing

Forward-Looking Statements

• The North Shore Trust & Savings Employee Stock Ownership Plan Trust will likely maintain a significant ownership stake in NSTS Bancorp, Inc. (North Shore Trust & Savings Employee Stock Ownership Plan Trust) — high confidence, target: December 31, 2024

FAQ

Key Financial Figures

• $0.01 — Inc. (Name of Issuer) Common Stock, $0.01 par value per share (Title of Class o

Filing Documents

• nsetrust20240131_sc13ga.htm (SC 13G/A) — 48KB
• 0001437749-24-002693.txt ( ) — 49KB

(a)

Item 1(a). Name of Issuer: NSTS Bancorp, Inc.

(b)

Item 1(b). Address of Issuer ' s Principal Executive Offices: 700 S. Lewis Ave., Waukegan, Illinois 60085

(a)

Item 2(a). Name of Person Filing: North Shore Trust & Savings Employee Stock Ownership Plan Trust ("NSTS ESOP Trust")

(b)

Item 2(b). Address of Principal Business Office or, if none, Residence: c/o Pentegra Services, Inc., 2 Enterprise Drive, Suite 408, Shelton, CT 06484

(c)

Item 2(c). Citizenship: Illinois

(d)

Item 2(d). Title of Class of Securities: Common Stock, $0.01 par value per share

(e)

Item 2(e). CUSIP Number: 6293JP 109 Item 3. If this statement is filed pursuant to 240.13d-1(b) or 240.13d-2(b) or (c), indicate type of person filing. (f) An employee benefit plan or endowment fund in accordance with 240.13d-1(b)(1)(ii)(F). Item 4. (a) Amount beneficially owned: See row 9 of the cover page. (b) Percent of class: See row 11 of the cover page. (c) Number of shares as to which such person has: (i) Sole power to vote or direct the vote: See row 5 of the cover page. (ii) Shared power to vote or direct the vote: See row 6 of the cover page. (iii) Sole power to dispose or to direct the disposition of: See row 7 of the cover page. (iv) Shared power to dispose or to direct the disposition of: See row 8 of the cover page. CUSIP No. 6293JP 109 13G Page 4 of 5 Pages Percent of class is based on (i) the number of shares held by NSTS ESOP Trust as of December 31, 2023 and (ii) the number of shares of common stock outstanding as of November 6, 2023 (5,315,261 shares) as reported by the Issuer in its most recent Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on November 13, 2023. Item 5. If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than 5 percent of the class of securities, check the following Item 6. Not applicable. Item 7. Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person. Not applicable. Item 8. Identification and Classification of Members of the Group. Not applicable. Item 9. Notice of Dissolution of Group. Not applicable. Item 10. Certifications. By signing below I certify that, to the best of my knowledge and belief, the securities referred to abo

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View this SC 13G/A filing on SEC EDGAR