NSTS Bancorp, Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Note 5 - Other Borrowings

Note 5 - Other Borrowings

3 Months Ended

Mar. 31, 2024

Notes to Financial Statements

Federal Home Loan Bank Advances, Disclosure [Text Block]

Note 5: Other Borrowings

There were no borrowings made during the three months ended March 31, 2024 and 2023.

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

	For the three months ended
	March 31,
	2024			2023
	(Dollars in thousands)
FHLB of Chicago advances and other borrowings:
Average balance outstanding	$	5,000		$	—
Maximum amount outstanding at any month-end during the period		5,000			—
Average interest rate during the period		4.8	%		0.0	%

	March 31, 2024			December 31, 2023
	(Dollars in thousands)
Balance outstanding at end of period		5,000			5,000
Weighted average interest rate at end of period		4.8	%		4.8	%

The eligible borrowings are collateralized by $103.2 million and $102.6 million of first mortgage loans under a blanket lien arrangement at March 31, 2024 and December 31, 2023, respectively.

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

	*March 31, 2024*		*December 31, 2023*
	(Dollars in thousands)
Outstanding advances	$	5,000	$	5,000
Additional borrowing capacity		72,882		72,200
Total borrowing capacity	$	77,882	$	77,200

Additionally, at March 31, 2024 and December 31, 2023, we had a $10.0 million federal funds line of credit with BMO Harris Bank, none of which was drawn at March 31, 2024 and December 31, 2023.