Brief: NSTS Bancorp Announces Balance Sheet Repositioning
22/12/2023 21:40
Dec 22 (Reuters) - NSTS Bancorp Inc NSTS.O :
* NSTS BANCORP ANNOUNCES BALANCE SHEET REPOSITIONING
* NSTS BANCORP: IN DEC 2023, SOLD $30.5 MILLION IN BOOK
VALUE OF
LOWER YIELDING AVAILABLE-FOR-SALE INVESTMENT SECURITIES
* NSTS BANCORP INC - SALE OF SECURITIES IS DESIGNED TO SEEK
TO
IMPROVE BANK'S EARNINGS GOING FORWARD, BEGINNING IN FISCAL YEAR
2024
* NSTS BANCORP INC - PROCEEDS FROM SALE WILL BE USED TO
REPAY
ABOUT $10.0 MILLION IN EXISTING DEBT WITH CURRENT RATE OF 5.31%
* NSTS BANCORP INC - EXPECTS TO RECOGNIZE AN ADDITIONAL
VALUATION
ALLOWANCE OF ABOUT $1.1 MILLION DURING Q4 OF 2023
Source text for Eikon: ID:nGNX9dBPSM
Further company coverage: NSTS.O
((Reuters.Briefs@thomsonreuters.com;))
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