Company: NSTS
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001437749-25-026943
Chunk: 75

Company: NSTS Bancorp, Inc.
Filing Date: 2025-08-14
Form: 10-Q
Item: Item 1
Chunk 75
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 from time to time, to measure certain assets and liabilities at fair value on a nonrecurring basis in accordance with accounting principles generally accepted in the United States of America. These include assets that are measured at the lower of cost or market that were recognized at fair value below cost at the end of the period. There were no assets measured at fair value on a nonrecurring basis as of  June 30, 2025 and  December 31, 2024. 

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   Note 7: Fair Value of Financial Instruments
    
   Financial instruments are classified within the fair value hierarchy using the methodologies described in Note 6 – Fair Value Measurements. The following disclosures include financial instruments that are not carried at fair value on the Consolidated Balance Sheets. The calculation of estimated fair values is based on market conditions at a specific point in time and  may not reflect current or future fair values. 
    
   Certain financial instruments generally expose the Company to limited credit risk and have no stated maturities or have short-term maturities and carry interest rates that approximate market. The carrying value of these financial instruments assumes to approximate the fair value of these instruments. These instruments include cash and cash equivalents, non-interest bearing deposit accounts, time deposits with other financial institutions, FHLB stock, escrow deposits and accrued interest receivable and payable. 

     The carrying amounts and estimated fair values by fair value hierarchy of certain financial instruments are as follows:

       Carrying                Estimated  
   Amount    Level 1    Level 2    Level 3    Fair Value  
   (Dollars in thousands)  
 June 30, 2025                     
 Financial assets:                     
 Loans, net  $132,835  $—  $—  $124,366  $124,366 
 Loans held for sale   4,429   —   4,664   —   4,664 
 Financial liabilities:                     
 Interest-bearing deposits  $180,589  $—  $181,036  $—  $181,036 
                     
 December 31, 2024                     
 Financial assets:                     
 Loans, net  $130,356  $—  $—  $124,084  $124,084