Company: NSTS
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001437749-25-026943
Chunk: 38

Company: NSTS Bancorp, Inc.
Filing Date: 2025-08-14
Form: 10-Q
Item: Item 8
Chunk 38
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 continue to see increased loan production compared to prior years.

Noninterest Expense. The following table shows the components of noninterest expense for the periods presented.

      Three months ended June 30, 

      Six months ended June 30, 

      Noninterest expense: 
      
      2025 

      2024 

      2025 

      2024 

      (Dollars in thousands) 

      Salaries and employee benefits 
      
     $
     1,642

     $
     1,468

     $
     3,175

     $
     2,842

      Equipment and occupancy 

     210

     198

     434

     412

      Data processing 

     233

     217

     455

     412

      Professional services 

     180

     172

     316

     283

      Advertising 

     39

     91

     81

     175

      Supervisory fees and assessments 

     42

     35

     80

     71

      Loan expenses 

     79

     65

     171

     95

      Deposit expenses 

     107

     58

     175

     112

      Director fees 

     51

     56

     99

     104

      Other 

     161

     132

     288

     250

      Total noninterest expense 
      
     $
     2,744

     $
     2,492

     $
     5,274

     $
     4,756

Noninterest expenses increased $252,000 for the quarter ended June 30, 2025, compared to the quarter ended June 30, 2024. The increase in noninterest expenses was primarily driven by increases in salaries and employee benefits and deposit expenses. The increase in noninterest expenses was partially offset by a reduction in advertising expenses. The average number of employees increased to 52 for the quarter ended June 30, 2025 compared to 50 for the quarter ended June 30, 2024. The increase in headcount is based on additional loan officers brought in during 2025. Deposit expenses increased as a result of ATM losses totaling $40,000 due to an ATM robbery. Noninterest expenses increased $518,000 for the six months ended June 30, 2025