Company: NSTS
Filing Date: 2025-03-28
Form Type: 10-K
Source: 0001437749-25-009831
Chunk: 906

Company: NSTS Bancorp, Inc.
Filing Date: 2025-03-28
Form: 10-K
Item: Item 6
Chunk 906
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 contractual cash flows. The discount rate is estimated using rates for currently offered deposits of similar remaining maturities.
    
   Other borrowings: The fair value of borrowings is based on securities dealers’ estimated fair values, when available, or estimated using discounted cash flow analysis. The discount rates used approximate the rates offered for similar borrowings of similar remaining terms.

     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)
 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 
                     
 December 31, 2023                     
 Financial assets:                     
 Loans, net  $120,623  $—  $—  $110,288  $110,288 
 Loans held for sale   380   —   387   —   387 
 Financial liabilities:                     
 Interest-bearing deposits   156,402   —   156,092   —   156,092 
 Other borrowings   5,000   —   4,990   —   4,990 

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   Note 15: Earnings Per Share