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

Annual report pursuant to Section 13 and 15(d)

Cover
- Document And Entity Information
Financial Statements
Notes to Financial Statements
Accounting Policies
- Significant Accounting Policies (Policies)
Notes Tables
Notes Details

Note 11 - Benefit Plans

Note 11 - Benefit Plans	12 Months Ended
Dec. 31, 2021
Notes to Financial Statements
Defined Benefit Plan [Text Block]	*Note 11:* Benefit Plans** During 2021, the Bank made final payouts for the Directors' Retirement Fund and Equity Value Plan. Both plans were fully accrued for prior to 2020. The Bank sponsors a noncontributory Profit-Sharing Plan covering all employees who have worked more than 1,000 hours during the plan year. Profit sharing expense for the years ended 2021 and 2020 were $0. Management implemented a 401(k)-benefit plan during 2007. Employee contributions are matched up to the first 6% of compensation contributed by the employee. Employer match contributions totaled $156,000 for 2021 and $163,000 for 2020.

Note 11 - Benefit Plans

12 Months Ended

Dec. 31, 2021

Notes to Financial Statements

Defined Benefit Plan [Text Block]

Note 11: Benefit Plans

During 2021, the Bank made final payouts for the Directors' Retirement Fund and Equity Value Plan. Both plans were fully accrued for prior to 2020.

The Bank sponsors a noncontributory Profit-Sharing Plan covering all employees who have worked more than 1,000 hours during the plan year. Profit sharing expense for the years ended 2021 and 2020 were $0.

Management implemented a 401(k)-benefit plan during 2007. Employee contributions are matched up to the first 6% of compensation contributed by the employee. Employer match contributions totaled $156,000 for 2021 and $163,000 for 2020.