Company: NSTS
Filing Date: 2025-05-14
Form Type: 10-Q
Source: 0001437749-25-016849
Chunk: 36

Company: NSTS Bancorp, Inc.
Filing Date: 2025-05-14
Form: 10-Q
Item: Item 8
Chunk 36
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,240

     130,356

      Total assets 

     282,700

     278,688

      Total deposits 

     193,684

     190,156

      Total equity 
      
     $
     77,462

     $
     76,490

Total Assets. Total assets increased $4.0 million to $282.7 million as of March 31, 2025 compared to $278.7 million at December 31, 2024. The increase was driven by an increase in cash and cash equivalents, funded by an increase in demand and NOW checking accounts.

Cash and cash equivalents. Cash and cash equivalents increased $4.0 million to $57.5 million as of March 31, 2025, from $53.5 million at December 31, 2024. The increase in cash was driven by an increase in the demand and NOW checking accounts. During the quarter ended March 31, 2025, the Bank received a large deposit into a customer account that is expected to be partially withdrawn prior to the end of the year. Currently, the Bank holds a majority of the cash on hand at the Federal Reserve Bank of Chicago, earning 4.40%, to keep the funds available for increasing loan demand. Management continues to actively monitor our liquidity position on a daily basis and maintain levels of liquid assets deemed adequate.

Securities Available for Sale. Securities available-for-sale decreased to $70.3 million as of March 31, 2025, compared to $71.2 million at December 31, 2024. There were no purchases or sales of securities available-for-sale during the quarter ended March 31, 2025. During the quarter ended March 31, 2025, the Bank received principal payments of $1.3 million, had maturities of $1.0 million, had net premium amortization and discount accretion of $121,000 and had a decrease in the unrealized loss on the portfolio of $1.5 million. 

As of March 31, 2025, the securities available for sale portfolio included an unrealized loss position of $10.5 million, or 13.0% of the total book value of the portfolio. Management monitors the portfolio for credit losses and believes that the decline in value does not presently represent realized losses and is due to market volatility and increased market interest rates. While the Bank does not currently intend to sell