Company: NSTS
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001437749-25-026943
Chunk: 58

Company: NSTS Bancorp, Inc.
Filing Date: 2025-08-14
Form: 10-Q
Item: Item 1
Chunk 58
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 applied on a prospective basis. Retrospective application is permitted. The Company will adopt this ASU, and does not expect the amendments to have a material impact to the annual financial statements of the Company.
    
   In  November 2024, the FASB issued ASU No. 2024-03, “Income Statement – Reporting Comprehensive Income – Expense Disaggregation Disclosures (Subtopic 220-40).” The pronouncement requires public entities to disclose additional information about specific expense categories in the notes to the financial statements. The guidance is effective for public business entities for fiscal years beginning after  December 15, 2026, and interim reporting periods beginning after  December 15, 2027. Early adoption is permitted. The Company is assessing ASU 2024-03 and its impact on its Consolidated Financial Statements and disclosures.

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   Note 2: Securities Available for Sale
    
   The amortized cost and estimated fair value of debt securities at  June 30, 2025 and  December 31, 2024, by contractual maturity, are shown below. The accrued interest receivable for securities available for sale was $260,000 and $278,000 on  June 30, 2025 and  December 31, 2024, respectively. Maturities  may differ from contractual maturities in mortgage-backed securities because the mortgages underlying the securities  may be called or repaid without any penalties, therefore, these securities have been included in the below table based on average remaining life.

     June 30, 2025   U.S. government agency obligations    Municipal obligations    Mortgage-backed residential obligations    Collateralized mortgage obligations    Total available-for-sale  
   (Dollars in thousands)  
 1 year or less  $—  $79  $—  $879  $958 
 1 to 5 years   3,015   1,311   8,244   14,225   26,795 
 5 to 10 years   4,677   2,780   16,265   8,941   32,663 
 After 10 years   —   7,400   576   1,196   9,172 
 Fair value   7,692   11,570   25,085   25