North Shore Trust and Savings Announces Expansion of Mortgage Lending Department

WAUKEGAN, Ill., Oct. 23, 2023 (GLOBE NEWSWIRE) -- NSTS Bancorp, Inc. (NASDAQ: NSTS) (the “Company”), the stock holding company of North Shore Trust and Savings, announced today the expansion of the bank’s residential mortgage lending department with the hire of the Oak Leaf Community Mortgage team, which consists of Philip LaGiglia, SVP Residential Lending, two senior mortgage loan originators, Joseph LaGiglia and David Holmes and an additional support staff of seven.

“We are excited to grow our residential mortgage lending team and continue executing our strategic business plan,” said Nathan E. Walker, President and Chief Executive Officer of North Shore Trust and Savings.

Philip LaGiglia has over 25 years of experience serving the real estate and mortgage banking industries through leadership roles. The Oak Leaf Community Mortgage team focuses on lending within the Chicagoland area.

“We are pleased to welcome the Oak Leaf Community Mortgage team to North Shore Trust and Savings,” said Amy L. Avakian, Chief Lending Officer of North Shore Trust and Savings. “The team at Oak Leaf Community Mortgage brings strong residential mortgage experience that complements our current lending team.”

The team will continue to originate loans as Oak Leaf Community Mortgage, a division of North Shore Trust and Savings, out of the bank’s loan production offices at 24252 W. Main St, Plainfield, Illinois 60544 and 75 Executive Dr, Aurora, IL 60504.

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

NSTS Bancorp, Inc. is the stock holding company of North Shore Trust and Savings. As of June 30, 2023, NSTS Bancorp, Inc. had approximately $257 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.

Forward-Looking Statements

Certain statements contained herein are considered forward-looking statements within the meaning of the federal securities laws and are intended to be covered by the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements, which are based on certain current assumptions and describe our future plans, strategies and expectations, can generally be identified by the use of the words “may,” “will,” “should,” “could,” “would,” “plan,” “potential,” “estimate,” “project,” “believe,” “intend,” “anticipate,” “expect,” “target” and similar expressions.

Any forward-looking statement speaks only as of the date on which it is made. Forward-looking statements are based on current beliefs and expectations of management and are inherently subject to significant business, economic and competitive uncertainties and contingencies, many of which are beyond our control. In addition, these forward-looking statements are subject to assumptions with respect to future events, business strategies and decisions that are subject to change. Because of these and other uncertainties, our actual future results may be materially different from the results indicated by these forward-looking statements. Except as required by applicable law or regulation, we do not undertake, and we specifically disclaim any obligation, to update any forward-looking statements to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events.

Contact:
Stephen G. Lear
Chairman, President and Chief Executive Officer
slear@northshoretrust.com
(847) 336-4430

Released October 23, 2023