| Condensed Financial Information of Parent Company Only Disclosure [Text Block] |
Note 16: Condensed Parent Only Financial Information
The Parent Company’s condensed balance sheet and related condensed statements of operations and cash flows are as follows.
NSTS BANCORP, INC.
Condensed Balance Sheets
| |
|
Year ended December 31, |
|
| |
|
2024 |
|
|
2023 |
|
| |
|
(Dollars in thousands) |
|
| Assets: |
|
|
|
|
|
|
|
|
| Cash |
|
$ |
16,855 |
|
|
$ |
18,634 |
|
| Investment in subsidiary |
|
|
56,028 |
|
|
|
55,035 |
|
| Loan to ESOP |
|
|
3,800 |
|
|
|
3,973 |
|
| Other assets |
|
|
15 |
|
|
|
7 |
|
| Total assets |
|
$ |
76,698 |
|
|
$ |
77,649 |
|
| Liabilities: |
|
|
|
|
|
|
|
|
| Accrued expense and other liabilities |
|
$ |
208 |
|
|
$ |
104 |
|
| Total liabilities |
|
|
208 |
|
|
|
104 |
|
| Stockholders' equity |
|
|
|
|
|
|
|
|
| Common Stock |
|
|
56 |
|
|
|
56 |
|
| Treasury Stock |
|
|
(3,240 |
) |
|
|
(2,381 |
) |
| Additional paid-in capital |
|
|
51,684 |
|
|
|
50,920 |
|
| Retained earnings |
|
|
40,266 |
|
|
|
41,055 |
|
| Unallocated common shares held by ESOP |
|
|
(3,670 |
) |
|
|
(3,882 |
) |
| Accumulated other comprehensive loss, net |
|
|
(8,606 |
) |
|
|
(8,223 |
) |
| Total stockholders' equity |
|
|
76,490 |
|
|
|
77,545 |
|
| Total liabilities and stockholders’ equity |
|
$ |
76,698 |
|
|
$ |
77,649 |
|
NSTS BANCORP, INC.
Condensed Statements of Operations
| |
|
Year ended December 31, |
|
| |
|
2024 |
|
|
2023 |
|
| |
|
(Dollars in thousands) |
|
| Income: |
|
|
|
|
|
|
|
|
| Interest income |
|
$ |
129 |
|
|
$ |
135 |
|
| Total income |
|
|
129 |
|
|
|
135 |
|
| Expense: |
|
|
|
|
|
|
|
|
| Noninterest expense |
|
$ |
1,313 |
|
|
$ |
1,180 |
|
| Total expense |
|
|
1,313 |
|
|
|
1,180 |
|
| Losses before income tax expense and equity in undistributed earnings (losses) of subsidiary |
|
$ |
(1,184 |
) |
|
$ |
(1,045 |
) |
| Income tax expense |
|
|
— |
|
|
|
96 |
|
| Losses before equity in undistributed earnings (losses) of subsidiary |
|
$ |
(1,184 |
) |
|
$ |
(1,141 |
) |
| Equity in undistributed earnings (losses) of subsidiary |
|
|
395 |
|
|
|
(2,816 |
) |
| Net loss |
|
$ |
(789 |
) |
|
$ |
(3,957 |
) |
NSTS BANCORP, INC.
Condensed Statements of Cash Flows
| |
|
Year ended December 31, |
|
| |
|
2024 |
|
|
2023 |
|
| |
|
(Dollars in thousands) |
|
| Cash flows from operating activities: |
|
|
|
|
|
|
|
|
| Net loss |
|
$ |
(789 |
) |
|
$ |
(3,957 |
) |
| Adjustments to reconcile net loss to net cash used in operating activities: |
|
|
|
|
|
|
|
|
| Net change in other assets |
|
|
(8 |
) |
|
|
97 |
|
| Net change in accrued expenses and other liabilities |
|
|
104 |
|
|
|
(307 |
) |
| Equity in undistributed (earnings) losses of subsidiary |
|
|
(395 |
) |
|
|
2,816 |
|
| Net cash used in operating activities |
|
|
(1,088 |
) |
|
|
(1,351 |
) |
| Cash flows from investing activities: |
|
|
|
|
|
|
|
|
| Principal payments on loan to ESOP |
|
$ |
173 |
|
|
$ |
172 |
|
| Net cash provided by investing activities |
|
|
173 |
|
|
|
172 |
|
| Cash flows from financing activities: |
|
|
|
|
|
|
|
|
| Purchase of treasury shares |
|
|
(970 |
) |
|
|
(2,381 |
) |
| Purchase of treasury stock from taxes withheld on stock awards |
|
|
(109 |
) |
|
|
— |
|
| Proceeds from exercise of stock options |
|
|
215 |
|
|
|
— |
|
| Net cash used in financing activities |
|
|
(864 |
) |
|
|
(2,381 |
) |
| Net change in cash |
|
|
(1,779 |
) |
|
|
(3,560 |
) |
| Cash at beginning of period |
|
|
18,634 |
|
|
|
22,194 |
|
| Cash at end of period |
|
$ |
16,855 |
|
|
$ |
18,634 |
|
|