Company: NSTS
Filing Date: 2025-03-28
Form Type: 10-K
Source: 0001437749-25-009831
Chunk: 513

Company: NSTS Bancorp, Inc.
Filing Date: 2025-03-28
Form: 10-K
Item: Item 1B
Chunk 513
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2,232 
 2028   8,500 
 2029 and beyond   5,443 
 Total  $92,819 

   In the normal course of business, deposit accounts are held by directors and officers of the Bank (related parties). The terms for these accounts, including interest rates, fees, and other attributes, are similar to those prevailing for comparable transactions with other customers and do not involve more than the normal level of risk associated with deposit accounts. At  December 31, 2024 and 2023, total deposits held by directors and officers of the Company and the Bank were $1.1 million and $739,000, respectively. 

   Note 7: Other Borrowings 
    
   There were no additional borrowings made during the year ended  December 31, 2024. In  June 2023, the Company borrowed $5.0 million from the FHLB Chicago at a rate of 4.78% for 24 months, payable on  June 20, 2025. The advance is collateralized by loans pledged to the FHLB and is payable at maturity, with a prepayment penalty if repayment is made prior to the maturity date. 

      Additionally, during the fourth quarter of 2023, the Company borrowed $10.0 million from the Federal Reserve Bank of Chicago ("FRB") as part of the Bank Term Funding Program, at a rate of 5.31% for 12 months, payable in  November 2024. The borrowing was repaid in  December 2023. The borrowing was collateralized by securities pledged to the FRB and was payable at maturity with no prepayment penalty. 

      The following table shows certain information regarding our borrowings at or for the dates indicated:

       At or For the Year Ended December 31,  
   2024    2023  
   (Dollars in thousands)  
 FHLB of Chicago advances and other borrowings:         
 Average balance outstanding  $5,000  $3,461 
 Maximum amount outstanding at any month-end during the period   5,000   15,000 
 Balance outstanding at end of period   5,000   5,000 
 Average interest rate during the period   4.8%  5.0%
 Weighted average interest rate at end of period   4.8%