Company: NSTS
Filing Date: 2025-03-28
Form Type: 10-K
Source: 0001437749-25-009831
Chunk: 1054

Company: NSTS Bancorp, Inc.
Filing Date: 2025-03-28
Form: 10-K
Item: Item 9
Chunk 1054
---
 deferred loan costs   650   1,016 
 Allowance for credit losses on loans   (1,201)  (1,176)
 Total loans, net  $130,356  $120,623 

   First mortgage loans serviced for others are not included in the accompanying Consolidated Balance Sheets. The unpaid principal balance of these loans totaled $13.9 million and $13.2 million at  December 31, 2024 and 2023, respectively. Custodial escrow balances maintained in connection with the foregoing loan servicing were $236,000 and $231,000 at  December 31, 2024 and 2023, respectively. 
    
   In the normal course of business, loans are made by the Bank to directors and officers of the Company and the Bank (related parties). The terms of these loans, including interest rate and collateral, are similar to those prevailing for comparable transactions with other customers and do not involve more than a normal risk of collectability. At  December 31, 2024 and 2023, such borrowers were indebted to the Bank in the aggregate amount of $587,000 and $550,000, respectively.

       61

   Note 4: Allowance for Credit Losses
    
   The following tables present the activity in the allowance for credit losses for the years ended  December 31, 2024 and 2023:

       December 31, 2024  
   1-4 family residential    Multi-family    Commercial    Construction    Consumer    Total  
   (Dollars in thousands)  
 Year ended:                         
 Beginning balance  $1,094  $40  $37  $4  $1  $1,176 
 Charge-offs   —   —   —   —   —   — 
 Recoveries   —   —   —   —   —   — 
 Net recoveries (charge-offs)   —   —   —   —   —   — 
 (Release of) Provision for credit losses   (38)  (3)  4   61   1   25 
 Ending balance  $1,056  $37  $41  $65  $2