NB Bancorp - NBBK STOCK NEWS

NB Bancorp (NBBK) reported strong Q4 2024 results with net income of $15.6 million ($0.40 per diluted share), up from $8.4 million in Q3. Operating net income was $13.3 million ($0.34 per diluted share). The company showed solid growth with deposits increasing 3.3% to $4.18 billion and loans growing 2.0% to $4.33 billion.

Key highlights include net interest margin expansion to 3.52%, tangible book value increase to $17.89 per share, and total assets reaching $5.16 billion. The company announced its first stock repurchase program since going public, authorizing the repurchase of up to 2,135,286 shares (approximately 5% of outstanding shares).

Asset quality remained strong with non-performing loans decreasing 13.5% to $13.9 million, and the allowance for credit losses at 0.89% of total gross loans.

NB Bancorp (NBBK) reported Q3 2024 net income of $8.4 million ($0.21 per diluted share), down from $9.5 million ($0.24 per diluted share) in Q2. Operating net income, excluding one-time charges, was $13.1 million ($0.33 per diluted share). Gross loans increased 3.7% to $4.25 billion, while net interest margin improved to 3.51%. The company faced one-time charges including a $1.9 million loss on securities sale, $1.6 million in BOLI-related expenses, and $2.5 million in tax expenses from solar credits. Total deposits grew 3.2% to $4.04 billion, with strong capital position at 14.9% shareholders' equity to total assets.

NB Bancorp (NBBK) has announced the appointment of Kenneth C. Montgomery to its Board of Directors and that of its subsidiary, Needham Bank. Montgomery brings extensive experience from his roles at the Federal Reserve Bank of Boston, where he most recently served as First Vice President and Chief Operating Officer. His notable achievements include overseeing the FedNow Service program, aimed at advancing the U.S. payment system.

Montgomery's background includes serving as interim President and CEO of the Federal Reserve Bank of Boston and holding positions overseeing technology groups and systems across the Federal Reserve System. His expertise in technology and cybersecurity is further evidenced by his involvement with the Advanced Cyber Security Center and past association with the Greater Boston Chamber of Commerce.

NB Bancorp (NBBK) reported strong Q2 2024 financial results. Key highlights include:

- Net income of $9.5 million ($0.24 per diluted share), up from $8.7 million in Q1
- Gross loans increased 3.6% to $4.10 billion
- Total deposits grew 3.9% to $3.92 billion
- Net interest margin decreased 15 basis points to 3.45%
- Asset quality remains strong with 0.09% annualized net charge-offs
- Allowance for credit losses increased to 0.92% of total loans

The company saw growth in commercial and industrial loans, construction loans, and residential real estate loans. However, multi-family residential loans declined. NB Bancorp maintains a strong capital position with 15.5% shareholders' equity to total assets.

Breakthrough T1D, formerly known as JDRF, has appointed Matthew Cohn as the new chair of its Global Mission Board. The volunteer-led group focuses on type 1 diabetes (T1D) research, fundraising, community engagement, and advocacy. Cohn, a long-time volunteer and father of two daughters with T1D, brings extensive leadership experience from his roles in various industries and non-profit organizations. He has also served on the International Board of Directors and as president of the Eastern Pennsylvania Chapter. Cohn aims to continue the work of outgoing chair Jennifer Bennett and support Breakthrough T1D’s mission to cure, prevent, and treat T1D.

NB Bancorp, Inc. reported strong financial results for the first quarter of 2024, with a net income of $8.7 million and gross loans increasing by $65.3 million. The net interest margin increased to 3.60%, and the asset quality remained robust with low charge-offs and non-performing loans. Total deposits grew by $384.7 million, showing a healthy increase in core deposits. Shareholders' equity stood at $733.8 million, and net interest income saw a significant rise of 9.5%. The Company's commercial real estate portfolio also showed growth, with $136.7 million increase in loans. Overall, the Company's performance indicates a positive outlook for future growth and market positioning.

NB Bancorp, Inc. announced its 2023 financial results, revealing net income of $9.8 million after one-time expenses. The IPO raised transformative capital for growth. Total assets increased by 26.2% to $4.53 billion, with net loans growing by 29.0%. Net interest income rose by 23.9% to $130.1 million. Noninterest income increased by 67.9% to $15.6 million. Noninterest expense surged by 68.5% to $119.9 million, including one-time costs. The allowance for credit losses was $32.2 million, with non-performing loans at $10.8 million. The 2024 annual meeting of shareholders is set for May 22, 2024.