NSTS Bancorp, Inc. Annual report pursuant to Section 13 and 15(d)

Note 17 - Condensed Parent Only Financial Information (Tables)

12 Months Ended

Dec. 31, 2023

	*Year ended December 31,*
	*2023*			*2022*
	(Dollars in thousands)
Assets:
Cash	$	18,634		$	22,194
Investment in subsidiary		55,035			54,510
Loan to ESOP		3,973			4,145
Other assets		7			104
Total assets	$	77,649		$	80,953
Liabilities:
Accrued expense and other liabilities	$	104		$	411
Total liabilities		104			411
Stockholders' equity
Common Stock		56			54
Treasury Stock		(2,381	)		—
Additional paid-in capital		50,920			50,420
Retained earnings		41,055			45,291
Unallocated common shares held by ESOP		(3,882	)		(4,098	)
Accumulated other comprehensive loss, net		(8,223	)		(11,125	)
Total stockholders' equity		77,545			80,542
Total liabilities and stockholders’ equity	$	77,649		$	80,953

	*Year ended December 31,*
	*2023*			*2022*
	(Dollars in thousands)
Income:
Interest income	$	135		$	140
Total income		135			140
Expense:
Noninterest expense	$	1,180		$	425
Total expense		1,180			425
Losses before income tax expense (benefit) and equity in undistributed (losses) earnings of subsidiary	$	(1,045	)	$	(285	)
Income tax expense (benefit)		96			(91	)
Losses before equity in undistributed (losses) earnings of subsidiary	$	(1,141	)	$	(194	)
Equity in undistributed (losses) earnings of subsidiary		(2,816	)		221
Net (loss) income	$	(3,957	)	$	27

	*Year ended December 31,*
	*2023*			*2022*
	(Dollars in thousands)
Cash flows from operating activities:
Net (loss) income	$	(3,957	)	$	27
Adjustments to reconcile net (loss) income to net cash (used in) provided by operating activities:
Net change in other assets		97			651
Net change in accrued expenses and other liabilities		(307	)		411
Issuance of common shares donated to North Shore Trust and Savings Charitable Foundation		—			1,009
Equity in undistributed losses (earnings) of subsidiary		2,816			(221	)
Net cash (used in) provided by operating activities		(1,351	)		1,877
Cash flows from investing activities:
Principal payments on loan to ESOP	$	172		$	174
Net cash provided by investing activities		172			174
Cash flows from financing activities:
Net proceeds from issuance of common shares		—			49,440
Loan to ESOP		—			(4,319	)
Proceeds from conversion transferred to subsidiary		—			(25,225	)
Purchase of treasury shares		(2,381	)		—
Net cash (used in ) provided by financing activities		(2,381	)		19,896
Net change in cash		(3,560	)		21,947
Cash at beginning of period		22,194			247
Cash at end of period	$	18,634		$	22,194