Company: NSTS
Filing Date: 2025-03-28
Form Type: 10-K
Source: 0001437749-25-009831
Chunk: 1063

Company: NSTS Bancorp, Inc.
Filing Date: 2025-03-28
Form: 10-K
Item: Item 9
Chunk 1063
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. In  June 2023, the Company borrowed $5.0 million from the FHLB Chicago at a rate of 4.78% for 24 months, payable on  June 20, 2025. The advance is collateralized by loans pledged to the FHLB and is payable at maturity, with a prepayment penalty if repayment is made prior to the maturity date. 

      Additionally, during the fourth quarter of 2023, the Company borrowed $10.0 million from the Federal Reserve Bank of Chicago ("FRB") as part of the Bank Term Funding Program, at a rate of 5.31% for 12 months, payable in  November 2024. The borrowing was repaid in  December 2023. The borrowing was collateralized by securities pledged to the FRB and was payable at maturity with no prepayment penalty. 

      The following table shows certain information regarding our borrowings at or for the dates indicated:

       At or For the Year Ended December 31,  
   2024    2023  
   (Dollars in thousands)  
 FHLB of Chicago advances and other borrowings:         
 Average balance outstanding  $5,000  $3,461 
 Maximum amount outstanding at any month-end during the period   5,000   15,000 
 Balance outstanding at end of period   5,000   5,000 
 Average interest rate during the period   4.8%  5.0%
 Weighted average interest rate at end of period   4.8%  4.8%

   The following table shows the outstanding advances, additional borrowing capacity and total borrowing capacity from the FHLB Chicago at the dates presented.

       December 31, 2024    December 31, 2023  
   (Dollars in thousands)  
 Outstanding advances  $5,000  $5,000 
 Additional borrowing capacity   73,094   72,200 
 Total borrowing capacity  $78,094  $77,200 

      The eligible borrowings are collateralized by 
      $103.8
       million and 
      $102.6
       million of first mortgage loans under a blanket lien arrangement at 
       December 31, 2024 and 2023
      , respectively. Additionally, at  December 31, 2024