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

Company: NSTS Bancorp, Inc.
Filing Date: 2025-03-28
Form: 10-K
Item: Item 10
Chunk 25
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 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 the sale of securities available for sale   —   — 
 Gross loss realized on the sale of securities available for sale   —   (1,794)

   Note 3: Loans 
    
   A summary of loans by major category as of  December 31, 2024 and 2023 is as follows:

       December 31, 2024    December 31, 2023  
   (Dollars in thousands) 
 First mortgage loans         
 1-4 family residential  $119,409  $111,081 
 Multi-family   3,368   3,111 
 Commercial   4,197   3,835 
 Construction   3,651   2,508 
 Total first mortgage loans   130,625   120,535 
 Consumer loans   282   248 
 Total loans   130,907   120,783 
 Net 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