Company: NSTS
Filing Date: 2025-03-28
Form Type: 10-K
Source: 0001437749-25-009831
Chunk: 216

Company: NSTS Bancorp, Inc.
Filing Date: 2025-03-28
Form: 10-K
Item: Item 13
Chunk 216
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—   96 
 Losses before equity in undistributed earnings (losses) of subsidiary  $(1,184) $(1,141)
 Equity in undistributed earnings (losses) of subsidiary   395   (2,816)
 Net loss  $(789) $(3,957)

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   NSTS BANCORP, INC. Condensed Statements of Cash Flows

       Year ended December 31,  
   2024    2023  
   (Dollars in thousands)  
 Cash flows from operating activities:         
 Net loss  $(789) $(3,957)
 Adjustments to reconcile net loss to net cash used in operating activities:         
 Net change in other assets   (8)  97 
 Net change in accrued expenses and other liabilities   104   (307)
 Equity in undistributed (earnings) losses of subsidiary   (395)  2,816 
 Net cash used in operating activities   (1,088)  (1,351)
 Cash flows from investing activities:         
 Principal payments on loan to ESOP  $173  $172 
 Net cash provided by investing activities   173   172 
 Cash flows from financing activities:         
 Purchase of treasury shares   (970)  (2,381)
 Purchase of treasury stock from taxes withheld on stock awards   (109)  — 
 Proceeds from exercise of stock options   215   — 
 Net cash used in financing activities   (864)  (2,381)
 Net change in cash   (1,779)  (3,560)
 Cash at beginning of period   18,634   22,194 
 Cash at end of period  $16,855  $18,634 

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   Note 17: Changes in Accounting Principles
    
   In  March 2024, the FASB issued ASU No. 2024-01, “Compensation—Stock Compensation (Topic 718): Scope Applications of Profits Interests and Similar Awards” (ASU 2024-01). ASU 2024-01 adds an example to Topic 718 which illustrates how to apply the scope guidance to determine whether profits interests and similar awards should be accounted for as share-based payment arrangements under Topic 718 or under