Company: NSTS
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001437749-25-026943
Chunk: 92

Company: NSTS Bancorp, Inc.
Filing Date: 2025-08-14
Form: 10-Q
Item: Item 1
Chunk 92
---
 the six months ended June 30, 2025, we recorded a provision for credit losses of $20,000, comprised of $1,000 reversal of provision for credit losses on loans and $21,000 provision for credit losses related to unfunded commitments. During the six months ended June 30, 2024, we recorded a provision for credit losses of $122,000, comprised of $91,000 provision for credit losses on loans and $31,000 provision for credit losses related to unfunded commitments.

We will continue to assess and evaluate the estimated future credit loss impact of current market conditions in subsequent reporting periods, which will be highly dependent on credit quality, macroeconomic forecasts and conditions, as well as the composition of our loan and available-for-sale securities portfolios.

       32

Noninterest Income. The following table shows the components of noninterest income for the periods presented.

      Three months ended June 30, 

      Six months ended June 30, 

      Noninterest income: 
      
      2025 

      2024 

      2025 

      2024 

      (Dollars in thousands) 

      Gain on sale of mortgage loans 
      
     $
     507

     $
     271

     $
     696

     $
     427

      Rental income on office building 

     16

     16

     32

     32

      Service charges on deposits 

     64

     64

     123

     125

      Increase in cash surrender value of BOLI 

     57

     53

     113

     106

      Other 

     91

     97

     105

     123

      Total noninterest income 
      
     $
     735

     $
     501

     $
     1,069

     $
     813

For the quarter ended June 30, 2025 compared to the same period ended June 30, 2024, noninterest income increased $234,000 to $735,000.  Noninterest income increased $256,000 for the six months ended June 30, 2025 to $1.1 million compared to $813,000 for the six months ended June 30, 2024. The increases were driven by an increase in the gain on sale of mortgage loans during the quarter and six months ended June 30, 2025.