Company: NSTS
Filing Date: 2025-03-28
Form Type: 10-K
Source: 0001437749-25-009831
Chunk: 1055

Company: NSTS Bancorp, Inc.
Filing Date: 2025-03-28
Form: 10-K
Item: Item 9
Chunk 1055
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  $1,201 

       December 31, 2023  
   1-4 family residential    Multi-family    Commercial    Construction    Consumer    Total  
   (Dollars in thousands)  
 Year ended:                         
 Beginning balance  $581  $19  $19  $—  $5  $624 
 Cumulative effect of change in accounting principle   335   23   29   —   (3)  384 
 Charge-offs   —   —   —   —   —   — 
 Recoveries   —   —   —   —   —   — 
 Net recoveries (charge-offs)   —   —   —   —   —   — 
 Provision for (release of) credit losses   178   (2)  (11)  4   (1)  168 
 Ending balance  $1,094  $40  $37  $4  $1  $1,176 

   The ACL on loans excludes $60,000 and $14,000 of allowance for off-balance sheet exposures as of  December 31, 2024 and 2023, respectively, recorded within Other Liabilities on the Consolidated Balance Sheets. 

       62

   There were no collateral dependent loans as of  December 31, 2024. As of  December 31, 2023, collateral dependent loans totaled $200,000 in the one to four-family residential loan segment. These loans are collateralized by residential real estate and have no ACL as of  December 31, 2023. There were no other collateral dependent loans as of  December 31, 2023.
    
   The Bank evaluates collectability based on payment activity and other factors. The Bank uses a graded loan rating system as a means of identifying potential problem loans, as follows:
    
   Pass
   Loans in these categories are performing as expected with low to average risk.
    
   Special Mention
   Loans in this category are internally designated by management as “watch loans.” These loans are starting to show signs of potential weakness and are closely monitored by management.
    
   Substandard
   Loans in this category are internally designated by management as “