ADDED
relies extensively on various information systems and other electronic resources to operate our business.
In addition, nearly all of our customers, service providers and other business partners on whom we depend, including the providers of our online banking, mobile banking, and accounting systems, use their own information systems and electronic resources.
Any of these systems can be compromised, including through the employees, customers, and other individuals who are authorized to use them, and bad actors who use a sophisticated and constantly evolving set of software, tools, and strategies to do so.
true true true This information security program is a key part of our overall risk management system, which is administered by our VP Information Technology.
The program includes administrative, technical and physical safeguards to help ensure the security and confidentiality of customer records and information.
These security and privacy policies and procedures are in effect across the Bank and each of its locations.
The VP Information Technology reports directly to the board of directors on a quarterly, or more frequently if necessary, basis.
This information security program is a key part of our overall risk management system, which is administered by our VP Information Technology.
The program includes administrative, technical and physical safeguards to help ensure the security and confidentiality of customer records and information.
These security and privacy policies and procedures are in effect across the Bank and each of its locations.
REMOVED
false --12-31 FY 2024 true true true true true false false false false false 0.01 0.01 10,000,000 10,000,000 5,249,826 5,315,261 352,033 269,898 0 1,794 http://fasb.org/us-gaap/2024#InterestReceivable http://fasb.org/us-gaap/2024#InterestReceivable http://fasb.org/us-gaap/2024#InterestReceivable http://fasb.org/us-gaap/2024#InterestReceivable 0 0 0 0 0 10.0 0 0 21 21 2020 2021 2022 2023 2020 2021 2022 2023 2021 2022 2023 9 9 0 0 5 5 10 5 5 0 0 Dollars in thousands.
completed its stock offering in connection with the conversion on January 18, 2022.
sold 5,290,000 shares of common stock at $10.00 per share in its subscription offering for gross proceeds of approximately $52.9 million.
In connection with the conversion, it also issued 107,959 shares of common stock and $150,000 in cash to NSTS Charitable Foundation, Inc.
s common stock began trading on January 19, 2022 on The Nasdaq Capital Market under the trading symbol NSTS.
Our traditional lending market is centered in our retail branch area of Lake County, Illinois.
As of December 31, 2024 , $119.4 million, or 91.2% of our total loan portfolio, consisted of one- to four-family residential mortgage loans.
We currently are evaluating sites for additional loan production branch offices in surrounding communities to be established over the next few years.
As of December 31, 2024 , our net loan portfolio totaled $130.4 million or 46.8% of total assets.
December 31, 2024 2023 Amount % Amount % (Dollars in thousands) First mortgage loans: 1-4 family residential $ 119,409 91.22 % $ 111,081 91.97 % Multi-family 3,368 2.57 % 3,111 2.58 % Commercial 4,197 3.21 % 3,835 3.17 % Construction 3,651 2.79 % 2,508 2.08 % Total first mortgage loans 130,625 120,535 Consumer loans 282 0.21 % 248 0.20 % Total loans 130,907 100.00 % 120,783 100.00 % Net deferred loan costs 650 1,016 Allowance for credit losses (1,201 ) (1,176 ) Total loans, net $ 130,356 $ 120,623 Contractual Terms to Final Maturities .