Company: NSTS
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001437749-25-026943
Chunk: 37

Company: NSTS Bancorp, Inc.
Filing Date: 2025-08-14
Form: 10-Q
Item: Item 8
Chunk 37
---
 for the periods presented.

      Three months ended June 30, 

      Six months ended June 30, 

      Noninterest income: 
      
      2025 

      2024 

      2025 

      2024 

      (Dollars in thousands) 

      Gain on sale of mortgage loans 
      
     $
     507

     $
     271

     $
     696

     $
     427

      Rental income on office building 

     16

     16

     32

     32

      Service charges on deposits 

     64

     64

     123

     125

      Increase in cash surrender value of BOLI 

     57

     53

     113

     106

      Other 

     91

     97

     105

     123

      Total noninterest income 
      
     $
     735

     $
     501

     $
     1,069

     $
     813

For the quarter ended June 30, 2025 compared to the same period ended June 30, 2024, noninterest income increased $234,000 to $735,000.  Noninterest income increased $256,000 for the six months ended June 30, 2025 to $1.1 million compared to $813,000 for the six months ended June 30, 2024. The increases were driven by an increase in the gain on sale of mortgage loans during the quarter and six months ended June 30, 2025. The increase in gain on sale of mortgages was primarily the result of an overall increase in total mortgage loans originated during the periods. During the quarter ended June 30, 2025, we sold 102 loans totaling $28.0 million for a gain on sale of $507,000. During the quarter ended June 30, 2024, we sold 46 loans totaling $13.2 million for a gain on sale of $271,000. During the six months ended June 30, 2025, we sold 135 loans totaling $37.9 million for a gain on sale of $696,000. During the six months ended June 30, 2024, we sold 72 loans totaling $19.5 million for a gain on sale of $427,000. Management continues to look for opportunities and markets to sell loans as we