Company: NSTS
Filing Date: 2025-05-14
Form Type: 10-Q
Source: 0001437749-25-016849
Chunk: 19

Company: NSTS Bancorp, Inc.
Filing Date: 2025-05-14
Form: 10-Q
Item: Item 8
Chunk 19
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 6 – Fair Value Measurements. The following disclosures include financial instruments that are not carried at fair value on the Consolidated Balance Sheets. The calculation of estimated fair values is based on market conditions at a specific point in time and  may not reflect current or future fair values. 
    
   Certain financial instruments generally expose the Company to limited credit risk and have no stated maturities or have short-term maturities and carry interest rates that approximate market. The carrying value of these financial instruments assumes to approximate the fair value of these instruments. These instruments include cash and cash equivalents, non-interest bearing deposit accounts, time deposits with other financial institutions, FHLB stock, escrow deposits and accrued interest receivable and payable. 

     The carrying amounts and estimated fair values by fair value hierarchy of certain financial instruments are as follows:

       Carrying                Estimated  
   Amount    Level 1    Level 2    Level 3    Fair Value  
   (Dollars in thousands)  
 March 31, 2025                     
 Financial assets:                     
 Loans, net  $130,240  $—  $—  $123,350  $123,350 
 Loans held for sale   2,595   —   2,647   —   2,647 
 Financial liabilities:                     
 Interest-bearing deposits  $181,006  $—  $181,468  $—  $181,468 
 Other Borrowings   5,000   —   4,997   —   4,997 
                     
 December 31, 2024                     
 Financial assets:                     
 Loans, net  $130,356  $—  $—  $124,084  $124,084 
 Loans held for sale   1,218   —   1,242   —   1,242 
 Financial liabilities:                     
 Interest-bearing deposits  $178,260  $—  $178,872  $—  $178,872 
 Other Borrowings   5,000   —   4,999   —   4,999 

   Note 8: Capital Ratios
    
   The Bank is subject