NB Bancorp, Inc. Announces Commencement of Additional Share Repurchase Plan
NB Bancorp (NBBK) has announced its second stock repurchase program since its December 2023 IPO, authorizing the buyback of up to 2,028,522 shares of common stock, representing approximately 5.0% of outstanding shares. The repurchases will be executed through open market or private transactions, including block trades or Rule 10b5-1 trading plans.
Chairman, President and CEO Joseph Campanelli highlighted the company's strong earnings stream since going public. The timing and volume of repurchases will be at management's discretion, based on market conditions, trading prices, and alternative capital uses. The company maintains flexibility to suspend, terminate, or modify the program at any time.
NB Bancorp (NBBK) ha annunciato il suo secondo programma di riacquisto di azioni dalla sua IPO di dicembre 2023, autorizzando il riacquisto fino a 2.028.522 azioni ordinarie, pari a circa il 5,0% delle azioni in circolazione. I riacquisti saranno effettuati tramite operazioni sul mercato aperto o transazioni private, inclusi blocchi di azioni o piani di trading secondo la Regola 10b5-1.
Il Presidente, Amministratore Delegato e Chairman Joseph Campanelli ha sottolineato la solida redditività dell'azienda da quando è diventata pubblica. Il momento e il volume dei riacquisti saranno a discrezione della direzione, in base alle condizioni di mercato, ai prezzi di negoziazione e ad altre possibili destinazioni del capitale. La società mantiene la flessibilità di sospendere, terminare o modificare il programma in qualsiasi momento.
NB Bancorp (NBBK) ha anunciado su segundo programa de recompra de acciones desde su oferta pública inicial en diciembre de 2023, autorizando la recompra de hasta 2.028.522 acciones ordinarias, lo que representa aproximadamente el 5,0% de las acciones en circulación. Las recompras se ejecutarán a través de transacciones en el mercado abierto o privadas, incluyendo operaciones en bloque o planes de negociación bajo la Regla 10b5-1.
El presidente, director ejecutivo y chairman Joseph Campanelli destacó la sólida generación de ganancias de la compañía desde su salida a bolsa. El momento y volumen de las recompras quedarán a discreción de la gerencia, según las condiciones del mercado, los precios de negociación y usos alternativos del capital. La empresa mantiene la flexibilidad para suspender, terminar o modificar el programa en cualquier momento.
NB Bancorp (NBBK)는 2023년 12월 IPO 이후 두 번째 주식 자사주 매입 프로그램을 발표하며, 약 5.0%에 해당하는 2,028,522주의 보통주 매입을 승인했습니다. 자사주 매입은 공개 시장 또는 비공개 거래, 블록 거래 또는 Rule 10b5-1 거래 계획을 통해 진행됩니다.
회장 겸 사장 및 CEO인 Joseph Campanelli는 상장 이후 회사의 강력한 수익 흐름을 강조했습니다. 매입 시기와 규모는 시장 상황, 거래 가격 및 자본의 대체 사용 가능성에 따라 경영진의 재량에 달려 있습니다. 회사는 언제든지 프로그램을 중단, 종료 또는 수정할 수 있는 유연성을 유지합니다.
NB Bancorp (NBBK) a annoncé son deuxième programme de rachat d'actions depuis son introduction en bourse en décembre 2023, autorisant le rachat jusqu'à 2 028 522 actions ordinaires, représentant environ 5,0% des actions en circulation. Les rachats seront effectués via des transactions sur le marché ouvert ou privées, incluant des blocs d'actions ou des plans de trading selon la règle 10b5-1.
Le président, directeur général et CEO Joseph Campanelli a souligné la forte rentabilité de la société depuis son entrée en bourse. Le calendrier et le volume des rachats seront à la discrétion de la direction, en fonction des conditions du marché, des prix de négociation et des usages alternatifs du capital. La société conserve la flexibilité de suspendre, terminer ou modifier le programme à tout moment.
NB Bancorp (NBBK) hat sein zweites Aktienrückkaufprogramm seit dem Börsengang im Dezember 2023 angekündigt und genehmigt den Rückkauf von bis zu 2.028.522 Aktien Stammaktien, was etwa 5,0% der ausstehenden Aktien entspricht. Die Rückkäufe werden über den offenen Markt oder private Transaktionen durchgeführt, einschließlich Blockgeschäften oder Handelsplänen gemäß Regel 10b5-1.
Vorsitzender, Präsident und CEO Joseph Campanelli hob den starken Gewinnstrom des Unternehmens seit dem Börsengang hervor. Zeitpunkt und Umfang der Rückkäufe liegen im Ermessen des Managements, basierend auf Marktbedingungen, Handelspreisen und alternativen Kapitalverwendungen. Das Unternehmen behält sich die Flexibilität vor, das Programm jederzeit auszusetzen, zu beenden oder zu ändern.
- Second buyback program implemented since December 2023 IPO, showing consistent shareholder return focus
- Substantial 5% of outstanding shares authorized for repurchase
- Company reports strong earnings stream since going public
- Management maintains flexibility in execution timing and price to maximize shareholder value
- No guaranteed timeline or commitment to complete the share repurchase
- Program may reduce stock liquidity due to lower float
Insights
NB Bancorp's 5% share repurchase plan signals management confidence and aims to enhance shareholder value through reduced share count.
NB Bancorp has announced its second stock repurchase plan since going public in December 2023, authorizing the repurchase of up to 2,028,522 shares (approximately
Share repurchase programs typically benefit existing shareholders through multiple mechanisms. By reducing the number of outstanding shares, the company can improve per-share metrics like earnings per share. Additionally, buybacks can provide price support by increasing demand for shares in the open market.
The CEO's comments about their "strong earnings stream" since going public suggests the bank is generating sufficient capital to both fuel growth and return value to shareholders. His mention of "continue sharing in the Company's success" while still growing market share indicates a balanced approach to capital allocation.
The flexible structure of the repurchase program is noteworthy - management maintains discretion regarding timing, price points, and execution methods. This provides them the ability to opportunistically repurchase shares when they believe the stock represents good value, potentially maximizing the program's effectiveness.
For a bank that completed its mutual-to-stock conversion only about 17 months ago, implementing multiple buyback programs suggests robust capital generation capabilities while still maintaining regulatory capital requirements. This capital return strategy often signals management's confidence in the institution's financial health and future prospects.
"Given the strong earnings stream that the Company has been able to generate since we went public at the end of 2023, we are extremely happy to be able to provide returns to our shareholders in several ways, through continued earnings and through share repurchases. We look forward to continue sharing in the Company's success with shareholders as we continue to grow market share," commented Joseph Campanelli, Chairman, President and Chief Executive Officer.
SHARE REPURCHASE PLAN
The Company announced today that it has adopted a share repurchase plan for up to 2,028,522 shares of common stock, which equals approximately
- Shares may be repurchased in open market or private transactions, through block trades, or pursuant to any trading plan that may be adopted in accordance with Rule 10b5-1 of the Securities and Exchange Commission (the "SEC").
- Repurchases will be made at management's discretion at prices management considers to be attractive and in the best interests of both the Company and its shareholders, subject to the availability of shares, general market conditions, the trading price of the stock, alternative uses for capital, and the Company's financial performance. Open market purchases may be subject to the limitations set forth in Rule 10b-18 of the SEC and other applicable legal requirements.
- The timing and amount of share repurchases under the share repurchase plan may be suspended, terminated or modified by the Company at any time for any reason, including market conditions, the cost of repurchasing shares, the availability of alternative investment opportunities, liquidity, and other factors deemed appropriate. These factors may also affect the timing and amount of share repurchases. The Company is not obligated to repurchase any particular number of shares or any shares in any specific time period.
ABOUT NB BANCORP, INC.
NB Bancorp, Inc. (Nasdaq Capital Market: NBBK) is the registered bank holding company of Needham Bank. Needham Bank is headquartered in
Known as the "Builder's Bank," Needham Bank has been helping individuals, businesses and non-profits build for their futures since 1892. Needham Bank offers an array of tech-forward products and services that businesses and consumers use to manage their financial needs.
We have the financial expertise typically found at much larger institutions and the local knowledge and commitment you can only find at a community bank. For more information, please visit https://NeedhamBank.com. Needham Bank is a member of FDIC.
Forward-Looking Statements
Statements in this press release that are not historical facts are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and are intended to be covered by the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. We may also make forward-looking statements in other documents we file with the Securities and Exchange Commission (the "SEC"), in our annual reports to our stockholders, in press releases and other written materials, and in oral statements made by our officers, directors or employees. You can identify forward-looking statements by the use of the words "believe," "expect," "anticipate," "intend," "estimate," "assume," "outlook," "will," "should," and other expressions that predict or indicate future events and trends and which do not relate to historical matters. Although the Company believes that these forward-looking statements are based on reasonable estimates and assumptions, they are not guarantees of future performance and are subject to known and unknown risks, uncertainties, and other factors. You should not place undue reliance on our forward-looking statements. You should exercise caution in interpreting and relying on forward-looking statements because they are subject to significant risks, uncertainties and other factors which are, in some cases, beyond the Company's control. The Company's actual results could differ materially from those projected in the forward-looking statements as a result of, among other factors, changes in general business and economic conditions on a national basis and in the local markets in which the Company operates, including changes which adversely affect borrowers' ability to service and repay loans; changes in customer behavior due to political, business and economic conditions, including inflation and concerns about liquidity; turbulence in the capital and debt markets; reductions in net interest income resulting from interest rate volatility as well as changes in the balances and mix of loans and deposits; changes in interest rates and real estate values; changes in loan collectability and increases in defaults and charge-off rates; decreases in the value of securities and other assets, adequacy of credit loss reserves, or deposit levels necessitating increased borrowing to fund loans and investments; changing government regulation; competitive pressures from other financial institutions; changes in legislation or regulation and accounting principles, policies and guidelines; cybersecurity incidents, fraud, natural disasters, and future pandemics; the risk that the Company may not be successful in the implementation of its business strategy; the risk that intangibles recorded in the Company's financial statements will become impaired; changes in assumptions used in making such forward-looking statements; and the other risks and uncertainties detailed in the Company's Form 10-K and updated by our Quarterly Report on Form 10-Q and other filings submitted to the SEC. These statements speak only as of the date of this release and the Company does not undertake any obligation to update or revise any of these forward-looking statements to reflect events or circumstances occurring after the date of this communication or to reflect the occurrence of unanticipated events.
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SOURCE Needham Bank
FAQ
What is the size of NBBK's new share repurchase program announced in May 2025?
How will NBBK execute its 2025 share repurchase program?
When did NBBK complete its mutual-to-stock conversion?
How many share repurchase programs has NBBK implemented since going public?
Can NBBK modify or cancel the announced share repurchase program?
