Company: NSTS
Filing Date: 2025-05-14
Form Type: 10-Q
Source: 0001437749-25-016849
Chunk: 5

Company: NSTS Bancorp, Inc.
Filing Date: 2025-05-14
Form: 10-Q
Item: Item 8
Chunk 5
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668   4,034 
 Collateralized mortgage obligations   —   —   25,304   3,212   25,304   3,212 
 Total  $—  $—  $70,319  $10,529  $70,319  $10,529 
 December 31, 2024                         
 U.S. government agency obligations  $—  $—  $8,657  $1,062  $8,657  $1,062 
 Municipal obligations   467   28   11,269   2,339   11,736   2,367 
 Mortgage-backed residential obligations   —   —   25,915   4,766   25,915   4,766 
 Collateralized mortgage obligations   —   —   24,941   3,842   24,941   3,842 
 Total  $467  $28  $70,782  $12,009  $71,249  $12,037 

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       Table of Contents

   At  March 31, 2025 and  December 31, 2024, all investment securities were in unrealized loss positions. There were no securities with identified credit losses at  March 31, 2025 and  December 31, 2024, respectively. Unrealized losses have not been recognized into income because, based on management's evaluation, the decline in fair value is largely due to increased market rates, temporary market conditions and trading spreads, and, as such, are considered to be temporary by the Bank. In addition, management has the intent and ability to hold the securities until they mature or they recover their carrying values. 
    
   All U.S. government agency obligations, mortgage-based residential obligations and collateralized mortgage obligations are agency-issued or government-sponsored enterprise issued. Agency-issued securities are generally guaranteed by a U.S. government agency, such as the Government National Mortgage Association. Government-sponsored enterprises, such as the Federal Home Loan Mortgage Corporation, the Federal National Mortgage Association, or the Small Business Administration, have either a direct or implied guarantee by the U.S. government. 
    
   The Bank holds two classifications of municipal bonds, general obligation bonds and revenue bonds. General obligation bonds are backed by