Company: NSTS
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001437749-25-034806
Chunk: 38

Company: NSTS Bancorp, Inc.
Filing Date: 2025-11-13
Form: 10-Q
Item: Item 8
Chunk 38
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 for the periods presented.

      Three months ended September 30, 

      Nine months ended September 30, 

      Noninterest income: 
      
      2025 

      2024 

      2025 

      2024 

      (Dollars in thousands) 

      Gain on sale of mortgage loans 
      
     $
     393

     $
     268

     $
     1,089

     $
     695

      Rental income on office building 

     16

     16

     48

     48

      Service charges on deposits 

     66

     67

     189

     192

      Increase in cash surrender value of BOLI 

     60

     56

     173

     162

      Other 

     29

     16

     134

     139

      Total noninterest income 
      
     $
     564

     $
     423

     $
     1,633

     $
     1,236

For the quarter ended September 30, 2025 compared to the same period ended September 30, 2024, noninterest income increased $141,000 to $564,000.  Noninterest income increased $397,000 for the nine months ended September 30, 2025 to $1.6 million compared to $1.2 million for the nine months ended September 30, 2024. The increases were driven by an increase in the gain on sale of mortgage loans during the quarter and nine months ended September 30, 2025. The increase in gain on sale of mortgages was primarily the result of an overall increase in total mortgage loans originated for sale during the periods. During the quarter ended September 30, 2025, we sold 66 loans totaling $19.4 million for a gain on sale of $393,000. During the quarter ended September 30, 2024, we sold 53 loans totaling $13.8 million for a gain on sale of $268,000. During the nine months ended September 30, 2025, we sold 176 loans totaling $57.3 million for a gain on sale of $1.1 million. During the nine months ended September 30, 2024, we sold 125 loans totaling $33.3 million for a gain on sale of $695,000. Management continues to look for