NSTS Bancorp Inc
For the period ended Dec 31, 2023. Filed Mar 28, 2024.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2023 · Filed Mar 28, 2024
Extracted filing text, with the paragraph anchors used by the comparison.
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Table of Contents
| PART I | |
|---|---|
| Item 1. Business | 2 |
| Item 1A. Risk Factors | 27 |
| Item 1B. Unresolved Staff Comments | 27 |
| Item 1C. Cybersecurity | 27 |
| Item 2. Properties | 28 |
| Item 3. Legal Proceedings | 28 |
| Item 4. Mine Safety Disclosures | 28 |
| PART II | |
| Item 5. Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities | 29 |
| Item 6. [Reserved] | 30 |
| Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations | 30 |
| Item 7A. Quantitative and Qualitative Disclosures About Market Risk | 40 |
| Item 8. Financial Statements and Supplementary Data | 40 |
| Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure. | 40 |
| Item 9A. Controls and Procedures | 41 |
| Item 9B. Other Information | 42 |
| Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections | 43 |
| PART III | |
| Item 10. Directors, Executive Officers and Corporate Governance | 43 |
| Item 11. Executive Compensation | 43 |
| Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters | 44 |
| Item 13. Certain Relationships and Related Transactions, and Director Independence | 44 |
| Item 14. Principal Accountant Fees and Services | 44 |
| PART IV | |
| Item 15. Exhibit and Financial Statement Schedules | 45 |
| Index to Consolidated Financial Statements | |
| CONSOLIDATED FINANCIAL STATEMENTS | 49 |
| Signatures | 81 |
Explanatory Note
NSTS Bancorp, Inc. was formed to serve as the stock holding company for North Shore Trust and Savings (the “Bank”) in connection with the conversion of North Shore Trust and Savings, NSTS Financial Corporation and North Shore MHC, into the stock form of organization, which was completed on January 18, 2022. Accordingly, the audited financial statements, as well as other financial information at or prior to January 18, 2022, contained in this Annual Report on Form 10-K relate solely to the consolidated financial results of North Shore MHC and its consolidated subsidiaries, NSTS Financial Corporation and North Shore Trust and Savings.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.