Company: NSTS
Filing Date: 2025-03-28
Form Type: 10-K
Source: 0001437749-25-009831
Chunk: 244

Company: NSTS Bancorp, Inc.
Filing Date: 2025-03-28
Form: 10-K
Item: Item 14
Chunk 244
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 loans by major category as of  December 31, 2024 and 2023 is as follows:

       December 31, 2024    December 31, 2023  
   (Dollars in thousands) 
 First mortgage loans         
 1-4 family residential  $119,409  $111,081 
 Multi-family   3,368   3,111 
 Commercial   4,197   3,835 
 Construction   3,651   2,508 
 Total first mortgage loans   130,625   120,535 
 Consumer loans   282   248 
 Total loans   130,907   120,783 
 Net deferred loan costs   650   1,016 
 Allowance for credit losses on loans   (1,201)  (1,176)
 Total loans, net  $130,356  $120,623 

   First mortgage loans serviced for others are not included in the accompanying Consolidated Balance Sheets. The unpaid principal balance of these loans totaled $13.9 million and $13.2 million at  December 31, 2024 and 2023, respectively. Custodial escrow balances maintained in connection with the foregoing loan servicing were $236,000 and $231,000 at  December 31, 2024 and 2023, respectively. 
    
   In the normal course of business, loans are made by the Bank to directors and officers of the Company and the Bank (related parties). The terms of these loans, including interest rate and collateral, are similar to those prevailing for comparable transactions with other customers and do not involve more than a normal risk of collectability. At  December 31, 2024 and 2023, such borrowers were indebted to the Bank in the aggregate amount of $587,000 and $550,000, respectively.

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   Note 4: Allowance for Credit Losses
    
   The following tables present the activity in the allowance for credit losses for the years ended  December 31, 2024 and 2023:

       December 31, 2024  
   1-4 family residential    Multi-family    Commercial    Construction    Consumer    Total  
   (Dollars in thousands)  
 Year ended:                         
 Beginning balance