NSTS Bancorp announces extension of stock repurchase program

NSTS Bancorp announced that its Board of Directors has approved the extension of the previously announced stock repurchase program that authorizes the company to repurchase up to an aggregate of 269,898 shares of the company’s outstanding common stock. The shares authorized to be repurchased represent approximately 5.0% of the company’s then currently outstanding common stock. The previously approved program expired on September 29, 2023. The extended program will be in effect until September 30, 2024, unless earlier terminated. As of October 5, 2023, the company has repurchased 152,681 shares at an average price of $8.88 per share. An additional 117,217 shares are authorized for repurchase under the program. “We believe the extension of the current stock repurchase program will continue to enhance our ability to efficiently manage our capital and provide a tool for creating value for our stockholders,” said Stephen G. Lear, President and Chief Executive Officer of NSTS Bancorp.