Company: NSTS
Filing Date: 2025-05-14
Form Type: 10-Q
Source: 0001437749-25-016849
Chunk: 53

Company: NSTS Bancorp, Inc.
Filing Date: 2025-05-14
Form: 10-Q
Item: Item 1
Chunk 53
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 (1) Income (or loss) from continuing operations before income tax expense (or benefit) disaggregated between domestic and foreign, and (2) Income tax expense (or benefit) from continuing operations disaggregated by federal (national), state, and foreign. The ASU is effective for public business entities for annual periods beginning after  December 15, 2024. Early adoption is permitted for annual financial statements that have not yet been issued or made available for issuance. The amendments should be 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.

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   Note 2: Securities Available for Sale
    
   The amortized cost and estimated fair value of debt securities at  March 31, 2025 and  December 31, 2024, by contractual maturity, are shown below. The accrued interest receivable for securities available for sale was $237,000 and $278,000 on  March 31, 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.

     March 31, 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  $—  $—  $—  $880  $880 
 1 to 5 years   3,039   1,459   9,094   13,881   27,473 
 5 to 10 years   4,635   2,395   15,410   8,421   30,861 
 After 10 years   —   7,819   1,164   2,122   11,105 
 Fair value   7,674   11,673   25,668   25,304   70,319 
 Gross unrealized gains   —   —   —   —   — 
 Gross unrealized losses