Company: NSTS
Filing Date: 2025-05-14
Form Type: 10-Q
Source: 0001437749-25-016849
Chunk: 86

Company: NSTS Bancorp, Inc.
Filing Date: 2025-05-14
Form: 10-Q
Item: Item 1
Chunk 86
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31, 

      2025 

      2024 

      (Dollars in thousands) 

      Selected Consolidated Financial Condition Data: 

      Cash and cash equivalents 
      
     $
     57,454

     $
     53,481

      Securities available for sale 

     70,319

     71,249

      FHLB stock 

     585

     585

      Loans held for sale 

     2,595

     1,218

      Loans, net 

     130,240

     130,356

      Total assets 

     282,700

     278,688

      Total deposits 

     193,684

     190,156

      Total equity 
      
     $
     77,462

     $
     76,490

Total Assets. Total assets increased $4.0 million to $282.7 million as of March 31, 2025 compared to $278.7 million at December 31, 2024. The increase was driven by an increase in cash and cash equivalents, funded by an increase in demand and NOW checking accounts.

Cash and cash equivalents. Cash and cash equivalents increased $4.0 million to $57.5 million as of March 31, 2025, from $53.5 million at December 31, 2024. The increase in cash was driven by an increase in the demand and NOW checking accounts. During the quarter ended March 31, 2025, the Bank received a large deposit into a customer account that is expected to be partially withdrawn prior to the end of the year. Currently, the Bank holds a majority of the cash on hand at the Federal Reserve Bank of Chicago, earning 4.40%, to keep the funds available for increasing loan demand. Management continues to actively monitor our liquidity position on a daily basis and maintain levels of liquid assets deemed adequate.

Securities Available for Sale. Securities available-for-sale decreased to $70.3 million as of March 31, 2025, compared to $71.2 million at December 31, 2024. There were no purchases or sales of securities available-for-sale during the quarter ended March 31, 2025. During the quarter ended March 31, 2025, the Bank received principal payments of $1.3 million, had maturities of $1.0 million, had net premium amortization and discount accretion