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

Annual report pursuant to Section 13 and 15(d)

Note 15 - Condensed Parent Only Financial Information (Tables)

Note 15 - Condensed Parent Only Financial Information (Tables)

12 Months Ended

Dec. 31, 2021

Notes Tables

Condensed Balance Sheet [Table Text Block]

		*Year ended December 31,*
		*2021*				*2020*
		(Dollars in thousands)
Assets:
Cash		$	230			$	993
Investment in subsidiary			44,200				45,687
Other assets			753				48
Total assets		$	45,183			$	46,728
Liabilities:
Accrued expense and other liabilities		$	—			$	3
Total liabilities			—				3
Members’ equity:
Members’ equity			45,183				46,725
Total members’ equity			45,183				46,725
Total liabilities and members’ equity		$	45,183			$	46,728

Condensed Income Statement [Table Text Block]

		*Year ended December 31,*
		*2021*				*2020*
		(Dollars in thousands)
Income:
Interest income		$	1			$	1
Total income			1				1
Expense:
Noninterest expense		$	19			$	229
Total expense			19				229
Losses before income tax benefit and equity in undistributed earnings of subsidiary		$	(18	)		$	(228	)
Income tax benefit			38				(56	)
Losses before equity in undistributed earnings of subsidiary		$	(56	)		$	(172	)
Equity in undistributed earnings of subsidiary			1				60
Net (losses) income		$	(55	)		$	(112	)

Condensed Cash Flow Statement [Table Text Block]

		*Year ended December 31,*
		*2021*				*2020*
		(Dollars in thousands)
Cash flows from operating activities:
Net (losses) income		$	(55	)		$	(112	)
Adjustments to reconcile net (losses) income to net cash used in operating activities:
Decrease (increase) in other assets			(704	)			80
Increase (decrease) in accrued expenses and other liabilities			(3	)			3
Equity in undistributed earnings of subsidiary			(1	)			(60	)
Net cash used in operating activities			(763	)			(89	)
Cash flows from financing activities:
Dividends received from subsidiary			—				950
Net cash provided by financing activities			—				950
Net change in cash			(763	)			861
Cash at beginning of period			993				132
Cash at end of period		$	230			$	993