Company: NSTS
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001437749-25-026943
Chunk: 55

Company: NSTS Bancorp, Inc.
Filing Date: 2025-08-14
Form: 10-Q
Item: Item 1
Chunk 55
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   (81)
 Purchase of treasury stock from taxes withheld on stock awards   (108)  (109)
 Net cash (used in) provided by financing activities   (2,262)  9,151 
 Net change in cash and cash equivalents   (5,993)  1,043 
 Cash and cash equivalents at beginning of period   53,481   31,388 
 Cash and cash equivalents at end of period  $47,488  $32,431 
 Supplemental disclosures of cash flow information:         
 Cash paid during the period for interest  $1,877  $1,473 
 Loans transferred to held for sale from portfolio, net   2,744   2,470 

See accompanying notes to consolidated unaudited financial statements

       7

Notes to the Unaudited Consolidated Financial Statements

   Note 1: Summary of Significant Accounting Policies
    
   The accompanying unaudited consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”) and conform to practices within the banking industry. The accounting policies followed in the preparation of the interim consolidated financial statements are consistent with those used in the preparation of the annual financial statements. The interim consolidated financial statements reflect all normal and recurring adjustments that are necessary, in the opinion of management, for fair statement of results for the interim periods presented. Results for the three and six month periods ended  June 30, 2025, are not necessarily indicative of the results that  may be expected for the year ending  December 31, 2025.
    
   Nature of Operations
    
   NSTS Bancorp, Inc. (“NSTS” or the “Company”, “we” or “our”) was formed to serve as the stock holding company for North Shore Trust and Savings (the “Bank”) in connection with the conversion of North Shore Trust and Savings, NSTS Financial Corporation and North Shore MHC, into the stock form of organization, which was completed on  January 18, 2022. Shares of NSTS Bancorp, Inc. stock began trading on  January 19, 2022 on the Nasdaq Capital Market under the trading symbol "NSTS."
    
   The Bank operates primarily out of three bank branch locations in the northern suburbs of Chicago, Illinois. In efforts to expand our loan originations within the Chicagoland area, the