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NSTS Bancorp, Inc.
NSTSCIK 0001881592NasdaqNon-AcceleratedSmaller ReportingEmerging GrowthSavings Institution, Federally CharteredFY ends Dec 31
Period
FY 2025
Revenue
—
Net Income
$-386.0K
Total Assets
$266.65M
Equity
$79.97M
Shares Out
5.26M
Op. Cash Flow
$4.05M
Business
NSTS Bancorp, Inc. is a savings and loan holding company that serves as the stock holding company for North Shore Trust and Savings and oversees its banking operations. The company offers deposit accounts, retail and consumer banking services, originates one- to four-family residential mortgage loans, commercial and multi-family real estate loans, construction loans, consumer loans, investment securities and mortgage loan sales to the secondary market. Operations are managed as a single reportable operating segment, with the primary operating subsidiary being North Shore Trust and Savings. The company serves Lake County and adjacent communities in the greater Chicagoland area, including Cook and Will counties and Kenosha County, Wisconsin, through its main office, full-service branches, loan production offices and online channels.
Summary from filing dated 2025-03-28
Financials
Consolidated Statement of Income
Year Ended · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Loans, including fees | 7 | 7 | 4 | 4 | 4 | |
| Taxable | 1 | 2 | 3 | 2 | 1 | |
| Tax-exempt | 241,000 | 244,000 | 396,000 | 402,000 | 248,000 | |
| Federal funds sold and other | 2 | 2 | 348,000 | 259,000 | 35,000 | |
| Time deposits with other financial institutions | 65,000 | 85,000 | 94,000 | 41,000 | 66,000 | |
| FHLB stock | 34,000 | 38,000 | 24,000 | 15,000 | 13,000 | |
| Total interest income | 11 | 10 | 8 | 6 | 5 | |
| Deposits | 3 | 3 | 1 | 764,000 | 940,000 | |
| Other borrowings | 113,000 | 243,000 | 172,000 | 0 | — | |
| Total interest expense | 4 | 3 | 2 | — | — | |
| Net interest income | 7 | 7 | 6 | 6 | 4 | |
| (Reversal of) provision for credit losses | −192,000 | 71,000 | 176,000 | −230,000 | — | |
| Net interest income after provision for credit losses | 8 | 7 | 6 | 6 | 4 | |
| Gain on sale of mortgage loans | 2 | 1 | 32,000 | 106,000 | 410,000 | |
| Rental income on office building | 65,000 | 64,000 | 64,000 | 53,000 | 42,000 | |
| Service charges on deposits | 252,000 | 256,000 | 270,000 | 291,000 | 289,000 | |
| Increase in cash surrender value of BOLI | 233,000 | 220,000 | 192,000 | 178,000 | 181,000 | |
| Other | 157,000 | 156,000 | 86,000 | 608,000 | 156,000 | |
| Total noninterest income | 2 | 2 | −1 | 1 | 1 | |
| Salaries and employee benefits | 6 | 6 | 5 | 4 | 3 | |
| Equipment and occupancy | 875,000 | 782,000 | 739,000 | 658,000 | 665,000 | |
| Data processing | 951,000 | 884,000 | 684,000 | 632,000 | 613,000 | |
| Professional services | 570,000 | 513,000 | 601,000 | 500,000 | 139,000 | |
| Advertising | 141,000 | 286,000 | 104,000 | 90,000 | 71,000 | |
| Supervisory fees and assessments | 150,000 | 142,000 | 140,000 | 142,000 | 126,000 | |
| Loan expenses | 301,000 | 212,000 | 117,000 | 86,000 | 129,000 | |
| Deposit expenses | 292,000 | 239,000 | 217,000 | 203,000 | 183,000 | |
| Director fees | 210,000 | 215,000 | 216,000 | 223,000 | 225,000 | |
| Other | 557,000 | 508,000 | 480,000 | 497,000 | 307,000 | |
| Total noninterest expense | 10 | 10 | 8 | 7 | 6 | |
| Loss before income taxes | −386,000 | −789,000 | −3 | 173,000 | −269,000 | |
| Income tax expense | 0 | 0 | 999,000 | 146,000 | −214,000 | |
| Net loss | −386,000 | −789,000 | −4 | 27,000 | −55,000 | |
| Basic and diluted loss per share (in dollars per share) | −0.08 | −0.16 | −0.79 | 0.01 | — | |
| Weighted average shares outstanding (in shares) | 5 | 5 | 5 | 5 | — |
Consolidated Balance Sheet
As of · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Cash and due from banks | 1 | 1 | 1 | 2 | 814,000 | |
| Interest-bearing bank deposits | 33 | 52 | 30 | 12 | 121 | |
| Cash and cash equivalents | 34 | 53 | 31 | 13 | 122 | |
| Time deposits with other financial institutions | 1 | 1 | 2 | 4 | 3 | |
| Securities available for sale | 79 | 71 | — | — | — | |
| Federal Home Loan Bank stock (FHLB) | 605,000 | 585,000 | 550,000 | 550,000 | 550,000 | |
| Loans held for sale | 4 | 1 | 380,000 | 0 | 104,000 | |
| Loans, net of unearned income | 130 | 132 | — | — | — | |
| Allowance for credit losses on loans | −1 | −1 | −1 | — | — | |
| Total loans, net | 129 | 130 | — | — | — | |
| Premises and equipment, net | 5 | 5 | 5 | 5 | 5 | |
| Interest Receivable | 925,000 | 870,000 | 758,000 | 852,000 | 641,000 | |
| Bank-owned life insurance (BOLI) | 10 | 10 | 9 | 9 | 9 | |
| Other assets | 3 | 4 | 4 | 6 | 3 | |
| Total assets | 267 | 279 | 257 | 264 | 341 | |
| Noninterest bearing | 13 | 12 | 12 | 13 | 99 | |
| Demand and NOW checking | 14 | 15 | 15 | 19 | 18 | |
| Money market | 26 | 29 | 32 | 43 | 45 | |
| Savings | 39 | 42 | 42 | 49 | 50 | |
| Time deposits over $250,000 | 23 | 22 | 10 | 9 | 9 | |
| Other time deposits | 66 | 71 | 57 | 47 | 63 | |
| Total deposits | 181 | 190 | 169 | 179 | 286 | |
| Escrow deposits | 2 | 2 | 1 | 1 | 1 | |
| Other borrowings | 0 | 5 | 5 | 0 | — | |
| Accrued expenses and other liabilities | 4 | 5 | 4 | 4 | 4 | |
| Total liabilities | 187 | 202 | 179 | 184 | 296 | |
| Common stock | 56,000 | 56,000 | 56,000 | 54,000 | 0 | |
| Treasury stock, at cost | −3 | −3 | −2 | 0 | — | |
| Additional paid-in capital | 52 | 52 | 51 | 50 | 0 | |
| Retained earnings | 40 | 40 | 41 | 45 | 45 | |
| Unallocated common shares held by ESOP | −3 | −4 | −4 | −4 | 0 | |
| Accumulated other comprehensive loss, net | −6 | −9 | −8 | −11 | −81,000 | |
| Total stockholders' equity | 80 | 76 | 78 | 81 | 45 | |
| Total liabilities and stockholders' equity | 267 | 279 | 257 | 264 | 341 | |
| Par value (in dollars per share) | 0.01 | 0.01 | 0.01 | 0.01 | — | |
| Shares authorized (in shares) | 10 | 10 | 10 | 10 | — | |
| Shares issued (in shares) | 6 | 6 | — | 5 | — | |
| Shares outstanding (in shares) | 5 | 5 | 5 | 5 | 0 | |
| Treasury shares (in shares) | 338,326 | 352,033 | 269,898 | — | — |
Consolidated Statement of Cash Flows
Year Ended · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Depreciation | 302,000 | 293,000 | 266,000 | 267,000 | 268,000 | |
| Securities amortization and accretion, net | 461,000 | 515,000 | 538,000 | 958,000 | 1 | |
| Loans originated for sale | −71 | −46 | −4 | −9 | −19 | |
| Proceeds from sales of loans held for sale | 77 | 54 | 3 | 9 | 22 | |
| ESOP expense | 246,000 | 214,000 | 199,000 | 246,000 | 0 | |
| Stock based compensation expense, net of forfeitures | 678,000 | 767,000 | 519,000 | 0 | — | |
| Change in deferred income taxes | 1 | −152,000 | 990,000 | 64,000 | −379,000 | |
| Net change in accrued interest receivable and other assets | −871,000 | −46,000 | 165,000 | 648,000 | −1 | |
| Net change in accrued expenses and other liabilities | −2 | 1 | 313,000 | 74,000 | 52,000 | |
| Net cash provided by operating activities | 4 | 9 | 431,000 | 3 | 1 | |
| Net change in portfolio loans | −6 | −18 | −18 | −1 | 2 | |
| Principal repayments on mortgage-backed securities | 6 | 6 | 8 | 16 | 18 | |
| Purchases of securities available for sale | −11 | 0 | 0 | −60 | −49 | |
| Maturities and calls of securities available for sale | 1 | 4 | 4 | 7 | 2 | |
| Purchase of Federal Home Loan Bank stock | −20,000 | −35,000 | 0 | 0 | −38,000 | |
| Net change in time deposits with other financial institutions | 249,000 | 497,000 | 2 | −1 | 9 | |
| Purchases of premises and equipment, net | −104,000 | −319,000 | −516,000 | −215,000 | −142,000 | |
| Net cash used in investing activities | −10 | −8 | 25 | −44 | −12 | |
| Net change in deposits | −9 | 21 | −10 | −107 | 99 | |
| Net change in escrow deposits | −140,000 | 357,000 | 129,000 | −189,000 | 77,000 | |
| Repayment of FHLB advance | −5 | 0 | 0 | −5 | −4 | |
| Purchase of treasury stock | 0 | −970,000 | −2 | 0 | — | |
| Purchase of treasury stock from taxes withheld on net share settlement of restricted stock awards | −114,000 | −109,000 | 0 | — | — | |
| Proceeds from exercise of stock options | 215,000 | 215,000 | 0 | — | — | |
| Net cash (used in) provided by financing activities | −14 | 21 | −7 | −67 | 100 | |
| Net change in cash and cash equivalents | −19 | 22 | 18 | −108 | 90 | |
| Loans transferred to held for sale from portfolio, net | 8 | 8 | 0 | — | — | |
| Cash paid during the period for: Interest | 4 | 3 | 1 | 766,000 | 948,000 |
Filings
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