Company: NSTS
Filing Date: 2025-03-28
Form Type: 10-K
Source: 0001437749-25-009831
Chunk: 656

Company: NSTS Bancorp, Inc.
Filing Date: 2025-03-28
Form: 10-K
Item: Item 2
Chunk 656
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 Mortgage-backed residential obligations   —   —   30,351   4,533   30,351   4,533 
 Collateralized mortgage obligations   —   —   26,135   3,938   26,135   3,938 
 Total  $279  $1  $81,361  $11,502  $81,640  $11,503 

       60

   At  December 31, 2024 and 2023, certain investment securities were in unrealized loss positions. There were no securities with identified credit losses at  December 31, 2024 and 2023. 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 the general revenue of the issuing municipality, while revenue bonds are supported by a specific revenue source. All general obligation and revenue bonds have a bond rating of investment grade by Standard and Poor's or Moody's Investor Services or are not rated. There have been no declines in investment grade ratings on bonds in a loss position and as of  December 31, 2024, all municipal bonds are paying as agreed. 
    
   The following table represents the proceeds from the sale of securities available-for-sale and the related gross gains and losses during the periods presented. 

       At December 31,  
   2024    2023  
   (Dollars in thousands)  
 Sales of securities available for sale  $—  $28,509 
 Gross gain realized on