Company: NSTS
Filing Date: 2025-05-14
Form Type: 10-Q
Source: 0001437749-25-016849
Chunk: 41

Company: NSTS Bancorp, Inc.
Filing Date: 2025-05-14
Form: 10-Q
Item: Item 8
Chunk 41
---
 

      Unused line of credit 
      
     $
     9,464

     $
     835

     $
     369

     $
     751

     $
     7,509

      Commitments to originate loans 

     1,658

     1,658

     —

     —

     —

      Total commitments 
      
     $
     11,122

     $
     2,493

     $
     369

     $
     751

     $
     7,509

Cash Obligations. The following table summarizes our cash obligations at March 31, 2025.

      Total at 

      Payments Due By Period 

      March 31, 2025 

      To 1 Year 

      1-3 Years 

      4-5 Years 

      After 5 Years 

      (Dollars in thousands) 

      Time deposits 
      
     $
     91,693

     $
     65,200

     $
     16,509

     $
     9,984

     $
     —

      FHLB advances 

     5,000

     5,000

     —

     —

     —

      Total contractual obligations 
      
     $
     96,693

     $
     70,200

     $
     16,509

     $
     9,984

     $
     —

       34

Impact of Inflation and Changing Prices

The consolidated financial statements and the accompanying notes presented elsewhere in this document have been prepared in accordance with U.S. GAAP, which generally requires the measurement of financial position and operating results in terms of historical dollars without considering the change in the relative purchasing power of money over time and due to inflation. Unlike most industrial companies, virtually all of our assets and liabilities are monetary in nature. As a result, interest rates have a greater impact on our performance than inflation. Interest rates do not necessarily move in the same direction or to the same extent as the prices of goods and services.

Changes in Accounting Principles

In March 2024, the FASB issued ASU No. 2024-01, “Compensation—Stock Compensation (Topic 718): Scope Applications of Profits Interests and Similar Awards” (ASU 2024-01). ASU 2024-01 adds an example to Topic 718 which illustrates how to apply the scope guidance to determine whether profits interests and similar awards should be accounted for