NB Bancorp, Inc. Reports First Quarter 2026 Financial Results, Declares Quarterly Cash Dividend

Rhea-AI Summary

NB Bancorp (Nasdaq: NBBK) reported Q1 2026 net income $15.0M ($0.36 diluted) and declared a $0.07 quarterly cash dividend payable May 20, 2026 to shareholders of record May 6, 2026. Net interest income rose 10.4% to $64.9M and gross loans increased to $6.21B. Provision for credit losses totaled $6.3M, driven by commercial loan growth and portfolio reserve adjustments. The company completed integration of Provident and repurchased 1,288,509 shares for ~$27.8M.

Positive

• Net income of $15.0M in Q1 2026
• Net interest income up 10.4% to $64.9M
• Gross loans rose $223.8M to $6.21B
• Declared quarterly dividend of $0.07 per share
• Repurchased 1,288,509 shares for ~$27.8M

Negative

• Provision for credit losses increased to $6.3M
• Operating net income fell to $15.8M from $21.2M prior quarter
• Shareholders' equity decreased $16.2M QoQ to $842.8M
• Allowance for credit losses declined to $80.2M (1.29% of loans)

News Market Reaction – NBBK

-10.68%

6 alerts

-10.68% Session close to close

-11.1% Trough in 2 hr 3 min

$968.79M Market Cap

0.1x Rel. Volume

In the Apr 23 session, NBBK declined 10.68%, reflecting a significant negative market reaction. Argus tracked a trough of -11.1% from its starting point during tracking. Our momentum scanner triggered 6 alerts that day, indicating moderate trading interest and price volatility.

Data tracked by StockTitan Argus on the day of publication.

Market Context

The stock dropped -10.7% in the session following this news. A negative reaction despite higher Q1 2...

Analysis

The stock dropped -10.7% in the session following this news. A negative reaction despite higher Q1 2026 net income of $15.0M and a maintained $0.07 dividend would contrast with prior dividends/earnings releases, which averaged moves of 2.88%. The decline reflects investor focus on rising credit costs, including a $6.3M provision and $13.6M in net charge-offs, as well as increased operating expenses tied to integration and technology investments, which may raise concerns about near-term profitability.

Key Figures

Net income: $15.0M Diluted EPS: $0.36 Operating net income: $15.8M +5 more

8 metrics

Net income $15.0M Q1 2026 reported net income; prior quarter was $7.7M

Diluted EPS $0.36 Q1 2026 GAAP diluted EPS

Operating net income $15.8M Q1 2026 operating net income vs $21.2M prior quarter

Net interest margin 3.94% Q1 2026 NIM, up from 3.92% prior quarter

Gross loans $6.21B Ending balance Q1 2026, up from $5.99B prior quarter

Total deposits $6.10B Ending balance Q1 2026, up from $5.85B prior quarter

Quarterly dividend $0.07 per share Cash dividend payable May 20, 2026, record date May 6, 2026

Provision for credit losses $6.3M Q1 2026 provision vs $1.1M release prior quarter

Previous Dividends,earnings Reports

2 past events · Latest: Oct 22 (Positive)

Same Type Pattern 2 events

Date	Event	Sentiment	24h Move	Catalyst
Oct 22	Quarterly earnings	Positive	+2.1%	Q3 2025 earnings with higher net income, loan and deposit growth, steady dividend.
Jul 23	Quarterly earnings	Positive	+3.7%	Q2 2025 earnings with margin expansion, strong loan growth, dividend initiation.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Pattern Detected

Earnings and dividend announcements have historically led to positive share price reactions for NBBK.

Recent Company History

Across recent quarters, NB Bancorp has paired earnings reports with steady cash dividends of $0.07 per share and consistent loan and deposit growth. Q2 and Q3 2025 results showed rising net income, expanding net interest margin, and growing balances, with shares reacting positively after these announcements. Today’s Q1 2026 release continues that pattern of dividend continuity and balance sheet expansion following the Provident acquisition, but the modest share price decline contrasts with the earlier positive post-earnings reactions.

Key Terms

net interest margin, allowance for credit losses, purchased credit deteriorated ("PCD"), non-performing loans, +4 more

8 terms

net interest margin financial

"Net interest margin expanded by 2 basis points to 3.94% during the current quarter"

Net interest margin measures how much a bank earns from lending and investing compared with what it pays for funding, expressed as a percentage of its interest-earning assets. Think of it like a grocery store’s markup: it shows the gap between buying cost and selling price per dollar of goods — here, the cost is interest paid and the sale is interest received. Investors watch it because a higher margin usually means a bank is more profitable and better at managing interest rate and credit conditions.

allowance for credit losses financial

"The allowance for credit losses ("ACL") amounted to $80.2 million as of March 31, 2026"

Allowance for credit losses is a reserve set aside by a financial institution to cover potential losses from borrowers who may not repay their loans. It acts like a safety net, helping the institution prepare for loans that might turn sour. For investors, it signals how cautious the institution is about the quality of its loans and potential risks to its financial health.

purchased credit deteriorated ("PCD") financial

"partial charge-off of a purchased credit deteriorated ("PCD") commercial and industrial loan"

Purchased credit deteriorated (PCD) describes a loan or debt investment bought after its borrower’s credit quality has already worsened since the loan was first made. Think of buying a car with a known mechanical problem: the buyer accepts higher risk and must account for likely losses upfront, so investors care because PCD assets typically carry greater credit risk, affect expected loss estimates, and can reduce reported earnings or capital requirements.

non-performing loans financial

"Non-performing loans ("NPLs") totaled $45.6 million as of March 31, 2026"

Loans on a bank’s books where the borrower has stopped making scheduled payments for a prolonged period (commonly about 90 days), so the lender no longer expects full repayment on time. Think of them as overdue IOUs that may never be paid back; a rising level of such loans weakens a lender’s earnings and balance sheet, signals greater credit risk in the economy, and can hurt investors through lower dividends, loan losses, or declines in the lender’s stock value.

modified endowment contract financial

"Tax expense and a modified endowment contract penalty of $50 thousand related to the surrender"

A modified endowment contract (MEC) is a life insurance policy that has been funded with more money than allowed under tax rules, changing how its cash withdrawals and loans are taxed. For investors, that matters because gains are taxed when taken out (rather than tax-free first), and withdrawals or loans may trigger ordinary income tax and a penalty if taken before age 59½, reducing the policy’s tax advantages and flexibility — like turning a tax-favored savings jar into a regular taxable account.

bank-owned life insurance ("BOLI") financial

"surrender of Bank-owned life insurance ("BOLI") policies from policies acquired from BankProv"

Bank-owned life insurance (BOLI) is a life insurance policy that a bank buys on the lives of its employees, with the bank named as beneficiary so the death payout and the policy’s cash growth go to the bank. Investors care because BOLI acts like a low-risk, tax-advantaged savings vehicle on a bank’s balance sheet that can offset employee benefit costs and boost reported income and capital, similar to how a company uses a safe investment to quietly strengthen its financial position.

loan-to-value ratio financial

"loan-to-value ratio of 65% or lower, with appraisal reports taking a blended approach"

The loan-to-value ratio (LTV) measures how large a loan is compared with the worth of the asset used as collateral, expressed as a percentage — for example, a $80,000 loan on a $100,000 property equals an 80% LTV. It matters to investors because higher LTVs mean higher risk of loss if the asset falls in value, and they influence borrowing costs, loan approval, and the stability and pricing of securities backed by such loans; think of it like how deep your financial safety net is under a loan.

non-accrual financial

"commercial and industrial loans on non-accrual of $2.6 million, partially offset by reductions"

A non-accrual loan or asset is one for which a lender has stopped counting expected interest as income because the borrower is very late on payments or in serious financial trouble. For investors, non-accruals signal that future cash from interest is uncertain and that the lender may need to write down the loan’s value or set aside extra reserves, similar to a landlord who stops recording rent when a tenant stops paying.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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NEEDHAM, Mass., April 22, 2026 /PRNewswire/ -- NB Bancorp, Inc. (the "Company") (Nasdaq Capital Market: NBBK), the holding company of Needham Bank (the "Bank"), today announced its first quarter 2026 financial results. The Company reported net income of $15.0 million, or $0.36 per diluted common share, compared to net income of $7.7 million, or $0.19 per diluted common share, for the prior quarter. Operating net income⁽¹⁾, excluding one-time charges, amounted to $15.8 million, or $0.38 per diluted common share, compared to operating net income⁽¹⁾ of $21.2 million, or $0.51 per diluted common share for the prior quarter. The primary difference between net income and operating net income⁽¹⁾ for the first quarter of 2026 was a result of trailing merger and acquisition costs of $534 thousand (pre-tax) related to the Company's completed acquisition of Provident Bancorp, Inc. ("Provident") and its subsidiary, BankProv, on November 15, 2025 and non-recurring fees for business line expansion of $500 thousand (pre-tax).

"The first quarter of 2026 marked a pivotal transition for Needham Bank, following the seamless and successful integration of Provident. As a unified organization, we are advancing our technology infrastructure across a broad range of banking systems to position us for increased revenue growth, with a focus on expanding our cash management and payments capabilities and scalability. While expenses increased from front loading these strategic investment costs and the expenditure related to implementing and operating systems in parallel – necessary to preserve business and customer continuity – we anticipate these investments to drive substantial benefits for both customers and shareholders beginning in the second half of 2026, creating value as we pursue ongoing growth. We continued to execute our strategic plan with discipline, evidenced by strong core fundamentals, growing loans and core deposits on an annualized basis during the quarter by 15.0% and 15.7%, respectively, as we deepened and added more business and consumer relationships. Other key performance highlights include solid operating earnings per diluted share of $0.38, operating return on average equity of 7.43%, and consistently high credit quality. Net interest income increased 10.4% from the prior quarter, expanding net interest margin 2 basis points for the quarter and 33 basis points compared to the first quarter of 2025, showing our continued discipline on select assets and our related pricing," commented Joseph Campanelli, Chairman, President and Chief Executive Officer. "We are proud of our seamless integration, now operating as one team, and remain committed to delivering exceptional service to our customers and community while driving sustained growth and long-term value for our shareholders," Campanelli continued.

Declaration of Dividend
The Board of Directors declared a quarterly cash dividend of $0.07 per share, payable on May 20, 2026, to shareholders of record as of May 6, 2026.

SELECTED FINANCIAL HIGHLIGHTS FOR THE FIRST QUARTER OF 2026

• Net income of $15.0 million, or $0.36 per diluted common share, compared to net income of $7.7 million, or $0.19 per diluted common share, for the prior quarter. Operating net income⁽¹⁾, excluding one-time charges, amounted to $15.8 million, or $0.38 per diluted common share, compared to operating net income⁽¹⁾ of $21.2 million, or $0.51 per diluted common share, for the prior quarter.

One-time charges during the current quarter include:

• • Pre-tax trailing merger and acquisition costs of $534 thousand ($390 thousand net of tax) related to the Company's completed acquisition of Provident;
  • Non-recurring fees for business line expansion of $500 thousand ($366 thousand net of tax); and
  • Tax expense and a modified endowment contract penalty of $50 thousand related to the surrender of Bank-owned life insurance ("BOLI") policies from policies acquired from BankProv.

One-time pre-tax charges during the prior quarter include:

• • Pre-tax merger and acquisition costs of $15.7 million ($11.4 million, net of tax) related to the Company's completed acquisition of Provident; and
  • Tax expense and a modified endowment contract penalty of $2.1 million related to the surrender of BOLI policies from policies acquired from BankProv.

• Net interest margin expanded by 2 basis points to 3.94% during the current quarter from 3.92% in the prior quarter.
• Gross loans increased $223.8 million, or 3.7%, to $6.21 billion, from $5.99 billion the prior quarter.
• Total deposits increased $243.5 million, or 4.2%, to $6.10 billion, from $5.85 billion in the prior quarter.
  • Core deposits, which the Company considers to be all non-brokered deposits, increased $209.1 million, or 3.9%, to $5.53 billion, from $5.32 billion in the prior quarter.
  • Brokered deposits increased $34.4 million, or 6.4%, to $570.1 million, from $535.7 million in the prior quarter.
• Book value per share and tangible book value per share⁽¹⁾ were $18.83 and $18.00, respectively, compared to $18.77 and $17.94, respectively, in the prior quarter. The increase in tangible book value per share⁽¹⁾ was a result of $15.0 million in net income for the quarter, partially offset by the repurchase of 1,288,509 shares during the current quarter at an all-in weighted average cost of $21.55 per share and $3.2 million in dividends paid during the quarter.

BALANCE SHEET
Total assets amounted to $7.23 billion as of March 31, 2026, representing an increase of $220.3 million, or 3.1%, from $7.01 billion as of December 31, 2025.

• Cash and cash equivalents decreased $32.2 million, or 7.9%, to $375.4 million from $407.6 million in the prior quarter, as a result of the increase in loans of $223.8 million and the repurchase of 1,288,509 shares totaling $27.8 million during the current quarter, partially offset by the increase in deposits of $243.5 million during the current quarter.
• Net loans increased $231.0 million, or 3.9%, to $6.13 billion, from $5.90 billion in the prior quarter as demand for new loan originations and advances continued. The current quarter increase was primarily seen in commercial and industrial loans, which increased $135.4 million, or 13.4%, construction and land development loans, which increased $52.1 million, or 7.1%, multi-family residential loans, which increased $20.6 million, or 4.0% and residential real estate loans, which increased $11.6 million, or 0.9%.
• Deposits increased $243.5 million, or 4.2%, to $6.10 billion from $5.85 billion in the prior quarter. The increase in deposits was the result of increases in money market accounts of $92.3 million, or 5.6%, noninterest bearing demand deposits of $44.6 million, or 5.4%, certificates of deposit of $39.1 million, or 2.0%, brokered deposits of $34.4 million, or 6.4% and NOW accounts of $30.4 million, or 4.6%.
• Shareholders' equity decreased $16.2 million, or 1.9%, to $842.8 million, from $858.9 million in the prior quarter, primarily as a result of the repurchase of 1,288,509 shares of common stock at an all-in weighted average cost of $21.55 per share totaling $27.8 million and $3.2 million in dividends paid during the current quarter, partially offset by net income of $15.0 million. Shareholders' equity to total assets and tangible shareholders' equity⁽¹⁾ to tangible assets were 11.7% and 11.2% respectively, at the end of the current quarter, compared to 12.3% and 11.8%, respectively, at the end of the prior quarter.

NET INTEREST INCOME
Net interest income was $64.9 million for the current quarter, compared to $58.8 million for the prior quarter, an increase of $6.1 million, or 10.4%. Net interest margin expanded 2 basis points to 3.94% for the current quarter, from 3.92% in the prior quarter.

• The increase in interest income during the current quarter was primarily attributable to an increase in the average balance of loans as a result of the continued execution of our growth strategy.
• The increase in interest expense for the current quarter was primarily driven by increases in the average balances of money market and certificates of deposit and individual retirement accounts, partially offset by a decrease in the weighted average rate on money market and certificates of deposit and individual retirement accounts.
• The ending balance of gross loans of $6.21 billion, is $119.7 million or 2.0%, higher than the average balance of gross loans at the end of the quarter, primarily the result of one large cannabis loan of $115.0 million closing near the end of the quarter, which did not have a significant impact on the yield during the current quarter.

PROVISION FOR CREDIT LOSSES
Provision for credit losses increased $7.4 million, or 695.9%, to a provision for credit losses of $6.3 million for the current quarter, compared to a release of credit losses of $1.1 million for the prior quarter.

• The provision for credit losses on loans amounted to $6.4 million for the current quarter, compared to a release of $1.6 million for the prior quarter, representing an increase of $7.9 million, or 510.4%, primarily driven by growth in the balance of commercial and industrial loans, along with increased peer commercial real estate credit losses impacting quantitative reserves, and an elevated qualitative factor risk grade for the commercial and industrial portfolio.
• The release of credit losses on unfunded commitments was $54 thousand for the current quarter, compared to a provision of $493 thousand for the prior quarter, representing a decrease of $547 thousand, or 111.0%, primarily driven by net unfunded commitments increasing $58 million in the prior quarter, compared to $14.5 million in the current quarter.

NONINTEREST INCOME
Noninterest income was $4.5 million for the current quarter, compared to $4.4 million for the prior quarter, representing an increase of $111 thousand, or 2.5%.

• Loss on sale of loans, net, was $1 thousand for the current quarter, compared to $519 thousand in the prior quarter, representing a decrease of $518 thousand, or 99.8%, resulting from the adjustment to record a $66.4 million consumer loan portfolio at fair value, which transferred to loans held for sale during the prior quarter.
• Swap contract income was $201 thousand for the current quarter, compared to $677 thousand in the prior quarter, representing a decrease of $476 thousand, or 70.3%, due to decreased swap contract demand.
• Customer service fees were $3.1 million for the current quarter, compared to $2.9 million in the prior quarter, representing an increase of $235 thousand, or 8.1%, due to increased cash management fees and customer transactional volume.
• Other income was $210 thousand, compared to $442 thousand in the prior quarter, resulting in a decrease of $232 thousand, or 52.5%, from the recognition of a higher amount of preferred dividends from solar tax credit investments during the prior quarter.

NONINTEREST EXPENSE
Noninterest expense for the current quarter was $42.7 million, representing a decrease of $6.6 million, or 13.4%, from $49.3 million for the prior quarter.

• Merger and acquisition expenses were $534 thousand for the current quarter, compared to $15.7 million for the prior quarter, representing a $15.2 million, or 96.6%, decrease due to the completion of the Provident acquisition in the prior quarter.
• Salaries and employee benefits expenses were $25.5 million for the current quarter, compared to $21.1 million for the prior quarter, representing a $4.3 million, or 20.5%, increase resulting from a full quarter of increased headcount from the Provident acquisition and continued growth.
• Director and professional service fee expenses were $4.0 million for the current quarter, compared to $2.5 million for the prior quarter, representing an increase of $1.5 million, or 62.0%, resulting from a $500 thousand one-time business expansion fee, legal fees from contract reviews and director stock compensation from grants made during the current quarter.
• Data processing expenses were $4.4 million for the current quarter, compared to $3.3 million for the prior quarter, representing an increase of $1.1 million, or 32.7%, primarily driven by our significant investment in technology and systems in support of upcoming revenue initiatives, requiring the operation of systems in parallel for a period of time, as well as a full quarter of increased transactional volume from the Provident acquisition.
• General and administrative expenses were $3.5 million for the current quarter, compared to $2.8 million for the prior quarter, representing an increase of $711 thousand, or 25.2%, mainly a result of a full quarter of amortization of the Provident core deposit intangible.

INCOME TAXES
Income tax expense for the current quarter was $5.4 million, representing a $1.8 million, or 25.2%, decrease from $7.2 million for the prior quarter. The decrease was primarily driven by the reduction in non-deductible merger and acquisition expenses and BOLI surrender tax and penalty. The effective tax rate and the operating effective tax rate⁽¹⁾ were 26.4% and 26.2%, respectively, for the current quarter, compared to 48.2% and 30.8%, respectively, for the prior quarter. The primary drivers of the decrease in the effective tax rate were gain on BOLI surrender of $6.2 million and non-deductible merger and acquisition expenses of $1.9 million during the prior quarter.

COMMERCIAL REAL ESTATE PORTFOLIO
Commercial real estate loans increased $21.5 million, or 0.9%, to $2.46 billion, during the current quarter.

• Cannabis facility commercial real estate loans decreased $1.2 million, or 0.6%, to $213.8 million during the current quarter. The Company's cannabis facility commercial real estate portfolio is secured entirely by the underlying commercial real estate of the borrower operation, in addition to, in most cases, a lien on all business assets. The vast majority of the cannabis facility loan portfolio balances have a loan-to-value ratio of 65% or lower, with appraisal reports taking a blended approach (using both cannabis and non-cannabis use comparable real estate sales, which we believe are generally more conservative).
• The cannabis facility portfolio has geographic dispersion, with lower dollar exposure loans remaining local and larger dollar exposure loans generally tied to multi-state operators with a more national footprint. All cannabis facility loan relationships were current at the end of the current quarter.
• The Company's multi-family real estate loan portfolio increased $20.6 million, or 4.0%, during the current quarter to $538.2 million. The Company's multi-family real estate loan portfolio consists of properties primarily located in the Greater Boston area, all of which are adjustable-rate loans and performing at the end of the current quarter.
• The Company's $323.3 million office portfolio consists principally of suburban Class A and B office space used as medical and traditional offices. The portfolio does not consist of high-rise towers located in Boston.

ASSET QUALITY

• The allowance for credit losses ("ACL") amounted to $80.2 million as of March 31, 2026, or 1.29% of total loans, compared to $87.4 million, or 1.46% of total loans at December 31, 2025.
• The Company recorded a provision for credit losses of $6.3 million during the current quarter, which included a provision for $6.4 million for loans and a release of $54 thousand for unfunded commitments, compared to a release of credit losses of $1.1 million during the prior quarter, which included a release of $1.6 million for loans and a provision of $493 thousand for unfunded commitments.
• The decrease in the ACL for the current quarter was primarily driven by the $10.6 million partial charge-off of a purchased credit deteriorated ("PCD") commercial and industrial loan, which carried a $10.8 million reserve, partially offset by increases in ACL balance from provisions for credit losses as a result of loan growth, larger peer commercial real estate credit losses realized in the prior quarter impacting quantitative reserves, and an elevated qualitative factor risk grade for the commercial and industrial portfolio.
• Non-performing loans ("NPLs") totaled $45.6 million as of March 31, 2026, an increase of $2.2 million, or 5.1%, from $43.4 million at the end of the prior quarter. The increase was primarily due to the increase in commercial and industrial loans on non-accrual of $2.6 million, partially offset by reductions in one-to-four family residential loans on non-accrual.
• During the current quarter, the Company recorded total net charge-offs of $13.6 million, or 0.91% of average total loans on an annualized basis, which included $12.4 million and $1.2 million in net charge-offs on PCD and non-PCD loans, respectively, compared to net charge-offs of $4.4 million, or 0.32% of average total loans on an annualized basis, in the prior quarter. The increase in net charge-offs during the current quarter was primarily a result of $12.4 million in charge-offs on previously reserved for PCD commercial and industrial loans. Charge-offs on non-PCD loans declined $3.2 million during the current quarter as a result of a $3.8 million charge-off on a previously reserved for commercial and industrial loan during the prior quarter. 
• As part of its ongoing credit risk management framework and prudent oversight, the Company periodically reviews lending relationships across all portfolios to ensure alignment with its risk appetite, regulatory expectations, and evolving market conditions.
• The Company's loan portfolio consists primarily of commercial real estate and multi-family loans, one-to-four-family residential real estate loans, construction and land development loans, commercial and industrial loans, mortgage warehouse loans and consumer loans. These loans are primarily made to individuals and businesses located in our primary lending market area, which is the Greater Boston metropolitan area and surrounding communities in Massachusetts, southern New Hampshire, eastern Connecticut and Rhode Island

(1)	Represents a non-GAAP measure. See Non-GAAP reconciliation of the corresponding GAAP measures on page 13.

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 Needham, Massachusetts, which is approximately 17 miles southwest of Boston's financial district. 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. Needham Bank also provides services to companies in the cannabis industry by providing loans and deposits, along with supporting payment platforms in this industry, such as Mosaic and Corduro.

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.

Non-GAAP Financial Measures
In addition to results presented in accordance with accounting principles generally accepted in the United States of America ("GAAP"), this press release contains certain non-GAAP financial measures, including pre-provision net revenue, operating net income, operating pre-tax income, operating noninterest expense, operating noninterest income, operating effective tax rate, operating earnings per share, basic, operating earnings per share, diluted, operating return on average assets, operating return on average shareholders' equity, operating efficiency ratio, tangible shareholders' equity, tangible assets and tangible book value per share. The Company's management believes that the supplemental non-GAAP information is utilized by regulators and market analysts to evaluate a Company's financial condition and therefore, such information is useful to investors. These disclosures should not be viewed as a substitute for financial results determined in accordance with GAAP, nor are they necessarily comparable to non-GAAP performance measures that may be presented by other companies. Because non-GAAP financial measures are not standardized, it may not be possible to compare these financial measures with other companies' non-GAAP financial measures having the same or similar names.

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; risks related to the Company's acquisitions generally, including disruption to current plans and operations; difficulties in customer and employee retention; fees, expenses and charges related to these transactions being significantly higher than anticipated; unforeseen integration issues or impairment of other intangibles; and the Company's inability to achieve expected revenues, cost savings, synergies, and other benefits at levels or within the timeframes originally anticipated; 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.

NB BANCORP, INC.
SELECTED FINANCIAL HIGHLIGHTS
(Unaudited)
(Dollars in thousands, except per share data)
	As of and for the three months ended
	March 31, 2026			December 31, 2025			March 31, 2025
Earnings data
Net interest income	$	64,868		$	58,752		$	43,526
Noninterest income		4,513			4,402			3,882
Total revenue		69,381			63,154			47,408
Provision for credit losses		6,328			(1,062)			1,158
Noninterest expense		42,701			49,334			28,681
Pre-tax income		20,352			14,882			17,569
Net income		14,984			7,707			12,655
Operating net income (non-GAAP)		15,791			21,200			13,693
Operating noninterest expense (non-GAAP)		41,667			33,594			27,464
Per share data
Earnings per share, basic	$	0.37		$	0.19		$	0.33
Earnings per share, diluted		0.36			0.19			0.33
Operating earnings per share, basic (non-GAAP)		0.39			0.52			0.35
Operating earnings per share, diluted (non-GAAP)		0.38			0.51			0.35
Book value per share		18.83			18.77			18.23
Tangible book value per share (non-GAAP)		18.00			17.94			18.20
Profitability
Return on average assets		0.87 %			0.49 %			1.00 %
Operating return on average assets (non-GAAP)		0.92 %			1.35 %			1.08 %
Return on average shareholders' equity		7.05 %			3.82 %			6.78 %
Operating return on average shareholders' equity (non-GAAP)		7.43 %			10.51 %			7.33 %
Net interest margin		3.94 %			3.92 %			3.61 %
Cost of deposits		2.73 %			2.86 %			3.11 %
Efficiency ratio		61.55 %			78.12 %			60.50 %
Operating efficiency ratio (non-GAAP)		60.06 %			53.19 %			57.93 %
Balance sheet, end of period
Total assets	$	7,226,437		$	7,006,130		$	5,242,157
Total loans		6,209,910			5,986,140			4,464,303
Total deposits		6,096,988			5,853,534			4,326,617
Total shareholders' equity		842,778			858,932			739,611
Asset quality
ACL	$	80,195		$	87,411		$	38,338
ACL / Total NPLs		176.0 %			201.5 %			337.1 %
Total NPLs / Total loans		0.73 %			0.72 %			0.25 %
Annualized net charge-offs / Average total loans		(0.91) %			(0.32) %			(0.13) %
Capital ratios
Shareholders' equity / Total assets		11.66 %			12.26 %			14.11 %
Tangible shareholders' equity / tangible assets (non-GAAP)		11.21 %			11.78 %			14.09 %

NB BANCORP, INC.
CONSOLIDATED BALANCE SHEETS
(Unaudited)
(Dollars in thousands, except share and per share data)
	As of									March 31, 2026 change from
	March 31, 2026			December 31, 2025			March 31, 2025			December 31, 2025				March 31, 2025
Assets
Cash and due from banks	$	327,739		$	325,711		$	201,140		$	2,028	0.6 %		$	126,599	62.9 %
Federal funds sold		47,618			81,885			112,306			(34,267)	(41.8) %			(64,688)	(57.6) %
Total cash and cash equivalents		375,357			407,596			313,446			(32,239)	(7.9) %			61,911	19.8 %
Available-for-sale securities, at fair value		277,241			268,959			234,680			8,282	3.1 %			42,561	18.1 %
Loans held for sale, at fair value		63,971			66,447			-			(2,476)	(3.7) %			63,971	0.0 %
Loans receivable, net of deferred fees		6,209,910			5,986,140			4,464,303			223,770	3.7 %			1,745,607	39.1 %
Allowance for credit losses		(80,195)			(87,411)			(38,338)			7,216	(8.3) %			(41,857)	109.2 %
Net loans		6,129,715			5,898,729			4,425,965			230,986	3.9 %			1,703,750	38.5 %
Accrued interest receivable		27,150			25,390			19,533			1,760	6.9 %			7,617	39.0 %
Banking premises and equipment, net		47,335			46,209			34,069			1,126	2.4 %			13,266	38.9 %
Non-public investments		40,738			33,740			24,710			6,998	20.7 %			16,028	64.9 %
Bank-owned life insurance ("BOLI")		110,586			104,335			103,688			6,251	6.0 %			6,898	6.7 %
Prepaid expenses and other assets		67,749			68,079			55,305			(330)	(0.5) %			12,444	22.5 %
Goodwill		18,512			18,512			-			-	0.0 %			18,512	0.0 %
Core deposit intangible, net		18,411			19,303			1,042			(892)	(4.6) %			17,369	1666.9 %
Deferred income tax asset, net		49,672			48,831			29,719			841	1.7 %			19,953	67.1 %
Total assets	$	7,226,437		$	7,006,130		$	5,242,157		$	220,307	3.1 %		$	1,984,280	37.9 %
Liabilities and shareholders' equity
Deposits
Core deposits	$	5,526,936		$	5,317,853		$	4,017,378		$	209,083	3.9 %		$	1,509,558	37.6 %
Brokered deposits		570,052			535,681			309,239			34,371	6.4 %			260,813	84.3 %
Total deposits		6,096,988			5,853,534			4,326,617			243,454	4.2 %			1,770,371	40.9 %
Mortgagors' escrow accounts		4,858			5,193			4,464			(335)	(6.5) %			394	8.8 %
Federal Home Loan Bank ("FHLB") borrowings		189,701			196,235			90,835			(6,534)	(3.3) %			98,866	108.8 %
Accrued expenses and other liabilities		70,983			70,716			60,344			267	0.4 %			10,639	17.6 %
Accrued retirement liabilities		21,129			21,520			20,286			(391)	(1.8) %			843	4.2 %
Total liabilities		6,383,659			6,147,198			4,502,546			236,461	3.8 %			1,881,113	41.8 %
Shareholders' equity:
Preferred stock, $0.01 par value, 5,000,000 shares authorized; no shares
issued and outstanding		-			-			-			-	0.0 %			-	0.0 %
Common stock, $0.01 par value, 120,000,000 shares authorized; 44,765,178 issued and
outstanding at March 31, 2026, 45,770,128 issued and outstanding at December 31, 2025
and 40,570,433 issued and outstanding at March 31, 2025		448			458			406			(10)	(2.2) %			42	10.3 %
Additional paid-in capital		432,858			458,864			376,773			(26,006)	(5.7) %			56,085	14.9 %
Unallocated common shares held by the Employee Stock Ownership Plan ("ESOP")		(41,873)			(42,454)			(44,231)			581	(1.4) %			2,358	(5.3) %
Retained earnings		456,978			445,200			413,128			11,778	2.6 %			43,850	10.6 %
Accumulated other comprehensive loss		(5,633)			(3,136)			(6,465)			(2,497)	79.6 %			832	(12.9) %
Total shareholders' equity		842,778			858,932			739,611			(16,154)	(1.9) %			103,167	13.9 %
Total liabilities and shareholders' equity	$	7,226,437		$	7,006,130		$	5,242,157		$	220,307	3.1 %		$	1,984,280	37.9 %

NB BANCORP, INC.
CONSOLIDATED STATEMENTS OF INCOME
(Unaudited)
(Dollars in thousands, except share and per share data)
										Three Months Ended March 31, 2026
	For the Three Months Ended									Change From Three Months Ended
	March 31, 2026			December 31, 2025			March 31, 2025			December 31, 2025				March 31, 2025
INTEREST AND DIVIDEND INCOME
Interest and fees on loans	$	100,042		$	91,485		$	71,440		$	8,557	9.4 %		$	28,602	40.0 %
Interest on securities		2,708			2,658			2,290			50	1.9 %			418	18.3 %
Interest and dividends on cash equivalents and other		2,936			3,219			3,121			(283)	(8.8) %			(185)	(5.9) %
Total interest and dividend income		105,686			97,362			76,851			8,324	8.5 %			28,835	37.5 %
INTEREST EXPENSE
Interest on deposits		39,579			37,677			32,239			1,902	5.0 %			7,340	22.8 %
Interest on borrowings		1,239			933			1,086			306	32.8 %			153	14.1 %
Total interest expense		40,818			38,610			33,325			2,208	5.7 %			7,493	22.5 %
NET INTEREST INCOME		64,868			58,752			43,526			6,116	10.4 %			21,342	49.0 %
PROVISION FOR CREDIT LOSSES
Provision for (release of) credit losses - loans		6,382			(1,555)			947			7,937	(510.4) %			5,435	573.9 %
(Release of) provision for credit losses - unfunded commitments		(54)			493			211			(547)	(111.0) %			(265)	(125.6) %
Total provision for (release of) credit losses		6,328			(1,062)			1,158			7,390	(695.9) %			5,170	446.5 %
NET INTEREST INCOME AFTER
PROVISION FOR (RELEASE OF) CREDIT LOSSES		58,540			59,814			42,368			(1,274)	(2.1) %			16,172	38.2 %
NONINTEREST INCOME
Customer service fees		3,131			2,896			2,558			235	8.1 %			573	22.4 %
Increase in cash surrender value of BOLI		853			844			1,031			9	1.1 %			(178)	(17.3) %
Mortgage banking income		119			62			149			57	91.9 %			(30)	(20.1) %
Swap contract income		201			677			88			(476)	(70.3) %			113	128.4 %
(Loss) gain on sale of loans, net		(1)			(519)			27			518	(99.8) %			(28)	(103.7) %
Other income		210			442			29			(232)	(52.5) %			181	624.1 %
Total noninterest income		4,513			4,402			3,882			111	2.5 %			631	16.3 %
NONINTEREST EXPENSE
Salaries and employee benefits		25,468			21,134			19,149			4,334	20.5 %			6,319	33.0 %
Director and professional service fees		4,049			2,500			2,148			1,549	62.0 %			1,901	88.5 %
Occupancy and equipment expenses		2,491			1,954			1,580			537	27.5 %			911	57.7 %
Data processing expenses		4,439			3,344			2,765			1,095	32.7 %			1,674	60.5 %
Marketing and charitable contribution expenses		1,033			1,087			846			(54)	(5.0) %			187	22.1 %
FDIC and state insurance assessments		1,152			751			813			401	53.4 %			339	41.7 %
Merger and acquisition expenses		534			15,740			-			(15,206)	(96.6) %			534	0.0 %
General and administrative expenses		3,535			2,824			1,380			711	25.2 %			2,155	156.2 %
Total noninterest expense		42,701			49,334			28,681			(6,633)	(13.4) %			14,020	48.9 %
INCOME BEFORE TAXES		20,352			14,882			17,569			5,470	36.8 %			2,783	15.8 %
INCOME TAX EXPENSE		5,368			7,175			4,914			(1,807)	(25.2) %			454	9.2 %
NET INCOME	$	14,984		$	7,707		$	12,655		$	7,277	94.4 %		$	2,329	18.4 %
Weighted average common shares outstanding, basic		40,969,748			40,870,969			38,755,746			98,779	0.2 %			2,214,002	5.7 %
Weighted average common shares outstanding, diluted		41,421,002			41,172,645			38,755,746			248,357	0.6 %			2,665,256	6.9 %
Earnings per share, basic	$	0.37		$	0.19		$	0.33		$	0.18	94.7 %		$	0.04	12.1 %
Earnings per share, diluted	$	0.36		$	0.19		$	0.33		$	0.17	89.5 %		$	0.03	9.1 %

NB BANCORP, INC.
AVERAGE BALANCES, INTEREST EARNED/PAID & AVERAGE YIELDS
(Unaudited)
(Dollars in thousands)
		For the Three Months Ended
		March 31, 2026								December 31, 2025								March 31, 2025
		Average								Average								Average
		Outstanding						Average		Outstanding						Average		Outstanding						Average
		Balance			Interest			Yield/Rate (4)		Balance			Interest			Yield/Rate (4)		Balance			Interest			Yield/Rate (4)
Interest-earning assets:
Loans (5)		$	6,090,227		$	100,042		6.66	%	$	5,410,208		$	91,485		6.71	%	$	4,366,206		$	71,440		6.64	%
Securities			273,308			2,708		4.02	%		250,435			2,658		4.21	%		230,406			2,290		4.03	%
Other investments (5)			28,275			265		3.80	%		25,659			627		9.69	%		27,529			219		3.23	%
Short-term investments (5)			290,385			2,671		3.73	%		265,146			2,592		3.88	%		264,343			2,902		4.45	%
Total interest-earning assets			6,682,195			105,686		6.41	%		5,951,448			97,362		6.49	%		4,888,484			76,851		6.38	%
Non-interest-earning assets			375,966								344,709								296,729
Allowance for credit losses			(88,102)								(68,363)								(38,685)
Total assets		$	6,970,059							$	6,227,794							$	5,146,528
Interest-bearing liabilities:
Savings accounts		$	207,681			263		0.51	%	$	164,423			217		0.52	%	$	113,750			46		0.16	%
NOW accounts			639,347			2,006		1.27	%		557,988			1,601		1.14	%		470,469			1,074		0.93	%
Money market accounts			1,711,672			12,732		3.02	%		1,435,761			11,602		3.21	%		1,073,041			8,716		3.29	%
Certificates of deposit and individual retirement accounts			2,497,213			24,578		3.99	%		2,351,324			24,257		4.09	%		1,979,184			22,403		4.59	%
Total interest-bearing deposits			5,055,913			39,579		3.17	%		4,509,496			37,677		3.31	%		3,636,444			32,239		3.60	%
FHLB borrowings			135,441			1,239		3.71	%		92,927			933		3.98	%		91,168			1,086		4.83	%
Total interest-bearing liabilities			5,191,354			40,818		3.19	%		4,602,423			38,610		3.33	%		3,727,612			33,325		3.63	%
Non-interest-bearing deposits			819,830								720,467								571,552
Other non-interest-bearing liabilities			97,370								104,914								90,023
Total liabilities			6,108,554								5,427,804								4,389,187
Shareholders' equity			861,505								799,990								757,341
Total liabilities and shareholders' equity		$	6,970,059							$	6,227,794							$	5,146,528
Net interest income					$	64,868							$	58,752							$	43,526
Net interest rate spread (1)								3.22	%							3.16	%							2.75	%
Net interest-earning assets (2)		$	1,490,841							$	1,349,025							$	1,160,872
Net interest margin (3)								3.94	%							3.92	%							3.61	%
Average interest-earning assets to interest-bearing liabilities			128.72	%							129.31	%							131.14	%

(1)	Net interest rate spread represents the difference between the weighted average yield on interest-earning assets and the weighted average rate of interest-bearing liabilities.
(2)	Net interest-earning assets represent total interest-earning assets less total interest-bearing liabilities.
(3)	Net interest margin represents net interest income divided by average total interest-earning assets.
(4)	Annualized.
(5)	Loans include loans held for sale, at fair value. Other investments are comprised of FRB stock, FHLB stock and swap collateral accounts.  Short-term investments are comprised of cash and cash equivalents.

NB BANCORP, INC.
COMMERCIAL REAL ESTATE BY COLLATERAL TYPE
(Unaudited)
(Dollars in thousands)
	March 31, 2026
	Owner-Occupied			Non-Owner-Occupied			Balance			Percentage
Multi-Family	$	—		$	538,164		$	538,164			21 %
Office		41,929			281,375			323,304			13 %
Hospitality		39,270			236,798			276,068			11 %
Industrial		128,550			146,492			275,042			11 %
Mixed-Use		22,506			199,728			222,234			9 %
Cannabis Facility		204,766			8,998			213,764			9 %
Retail		53,211			109,978			163,189			7 %
Special Purpose		86,767			61,678			148,445			6 %
Self Storage Facilities		—			87,590			87,590			4 %
Recreational Vehicle Parks		13,587			73,922			87,509			4 %
Other		51,615			76,102			127,717			5 %
Total commercial real estate	$	642,201		$	1,820,825		$	2,463,026			100 %

	Change From December 31, 2025												Change From March 31, 2025
	Owner- Occupied			Non-Owner- Occupied			Balance			Percentage			Owner- Occupied			Non-Owner- Occupied			Balance			Percentage
Multi-Family	$	—		$	20,637		$	20,637			4 %		$	—		$	196,545		$	196,545			58 %
Office		2,211			34,804			37,015			13 %			16,187			120,262			136,449			73 %
Hospitality		2,275			(9,515)			(7,240)			(3) %			39,270			64,513			103,783			60 %
Industrial		(25,850)			(9,810)			(35,660)			(11) %			4,332			72,697			77,029			39 %
Mixed-Use		(4,535)			2,740			(1,795)			(1) %			14,853			87,199			102,052			85 %
Cannabis Facility		(1,157)			(87)			(1,244)			(1) %			(102,736)			(6,178)			(108,914)			(34) %
Retail		8,194			6,132			14,326			10 %			8,795			22,546			31,341			24 %
Special Purpose		(1,760)			(533)			(2,293)			(2) %			8,070			7,493			15,563			12 %
Self Storage Facilities		—			23,275			23,275			36 %			—			87,590			87,590			0 %
Recreational Vehicle Parks		(1,578)			(368)			(1,946)			(2) %			13,587			73,922			87,509			0 %
Other		(298)			(23,321)			(23,619)			(16) %			11,228			5,252			16,480			15 %
Total commercial real estate	$	(22,498)		$	43,954		$	21,456			1 %		$	13,586		$	731,841		$	745,427			43 %

	December 31, 2025												March 31, 2025
	Owner- Occupied			Non-Owner- Occupied			Balance			Percentage			Owner- Occupied			Non-Owner- Occupied			Balance			Percentage
Multi-Family	$	—		$	517,527		$	517,527			21 %		$	—			341,619		$	341,619			20 %
Office		39,718			246,571			286,289			12 %			25,742			161,113			186,855			11 %
Hospitality		36,995			246,313			283,308			12 %			—			172,285			172,285			10 %
Industrial		154,400			156,302			310,702			13 %			124,218		$	73,795			198,013			12 %
Mixed-Use		27,041			196,988			224,029			9 %			7,653			112,529			120,182			7 %
Cannabis Facility		205,923			9,085			215,008			9 %			307,502			15,176			322,678			19 %
Retail		45,017			103,846			148,863			6 %			44,416			87,432			131,848			8 %
Special Purpose		88,527			62,211			150,738			6 %			78,697			54,185			132,882			8 %
Self Storage Facilities		—			64,315			64,315			3 %			—			—			—			0 %
Recreational Vehicle Parks		15,165			74,290			89,455			4 %			—			—			—			0 %
Other		51,913			99,423			151,336			5 %			40,387			70,850			111,237			5 %
Total commercial real estate	$	664,699		$	1,776,871		$	2,441,570			100 %		$	628,615		$	1,088,984		$	1,717,599			100 %

NB BANCORP, INC.
NON-GAAP RECONCILIATION
(Unaudited)
(Dollars in thousands)
	For the Three Months Ended
	March 31, 2026			December 31, 2025			March 31, 2025
Net income (GAAP)	$	14,984		$	7,707		$	12,655
Add (Subtract):
Adjustments to net income:
Defined benefit pension termination refund		-			-			1,217
Non-recurring fees for business line expansion		500			-			-
BOLI surrender tax and modified endowment contract penalty		50			2,092			154
Merger and acquisition expenses		534			15,740			-
Total adjustments to net income	$	1,084		$	17,832		$	1,371
Less net tax benefit associated with pre-tax non-GAAP adjustments to net income		277			4,339			333
Non-GAAP adjustments, net of tax		807			13,493			1,038
Operating net income (non-GAAP)	$	15,791		$	21,200		$	13,693
Weighted average common shares outstanding, basic		40,969,748			40,870,969			38,755,746
Weighted average common shares outstanding, diluted		41,421,002			41,172,645			38,755,746
Operating earnings per share, basic (non-GAAP)	$	0.39		$	0.52		$	0.35
Operating earnings per share, diluted (non-GAAP)	$	0.38		$	0.51		$	0.35
Pre-tax income (GAAP)	$	20,352		$	14,882		$	17,569
Add (Subtract):
Adjustments to pre-tax income:
Defined benefit pension termination refund		-			-			1,217
Non-recurring fees for business line expansion		500			-			-
Merger and acquisition expenses		534			15,740			-
Total adjustments to pre-tax income		1,034			15,740			1,217
Operating pre-tax income (non-GAAP)	$	21,386		$	30,622		$	18,786
Noninterest expense (GAAP)	$	42,701		$	49,334		$	28,681
Subtract (Add):
Adjustments to noninterest expense:
Defined benefit pension termination refund	$	-		$	-		$	1,217
Non-recurring fees for business line expansion		500			-			-
Merger and acquisition expenses		534			15,740			-
Total impact of non-GAAP noninterest expense adjustments	$	1,034		$	15,740		$	1,217
Noninterest expense on an operating basis (non-GAAP)	$	41,667		$	33,594		$	27,464
Operating net income (non-GAAP)	$	15,791		$	21,200		$	13,693
Average assets		6,970,059			6,227,794			5,146,528
Operating return on average assets (non-GAAP)		0.92 %			1.35 %			1.08 %
Average shareholders' equity	$	861,505		$	799,990		$	757,341
Operating return on average shareholders' equity (non-GAAP)		7.43 %			10.51 %			7.33 %
Noninterest expense on an operating basis (non-GAAP)	$	41,667		$	33,594		$	27,464
Total pre-provision net revenue (net interest income plus total noninterest income)		69,381			63,154			47,408
Operating efficiency ratio (non-GAAP)		60.06 %			53.19 %			57.93 %
Income tax expense (GAAP)	$	5,368		$	7,175		$	4,914
Add (Subtract):
Adjustments to income tax expense:
Net tax benefit associated with pre-tax non-GAAP adjustments to net income		277			4,339			333
BOLI surrender tax and modified endowment contract penalty		(50)			(2,092)			(154)
Total impact of non-GAAP income tax expense adjustments	$	227		$	2,247		$	179
Income tax expense on an operating basis (non-GAAP)	$	5,595		$	9,422		$	5,093
Operating effective tax rate (non-GAAP)		26.2 %			30.8 %			27.1 %
	As of
	March 31, 2026			December 31, 2025			March 31, 2025
Total shareholders' equity (GAAP)	$	842,778		$	858,932		$	739,611
Subtract:
Intangible assets (core deposit intangible and goodwill)		36,923			37,815			1,042
Total tangible shareholders' equity (non-GAAP)		805,855			821,117			738,569
Total assets (GAAP)		7,226,437			7,006,130			5,242,157
Subtract:
Intangible assets (core deposit intangible and goodwill)		36,923			37,815			1,042
Total tangible assets (non-GAAP)	$	7,189,514		$	6,968,315		$	5,241,115
Tangible shareholders' equity / tangible assets (non-GAAP)		11.21 %			11.78 %			14.09 %
Total common shares outstanding		44,765,178			45,770,128			40,570,443
Tangible book value per share (non-GAAP)	$	18.00		$	17.94		$	18.20

NB BANCORP, INC.
ASSET QUALITY – NON-PERFORMING ASSETS (1)
(Unaudited)
(Dollars in thousands)
		March 31, 2026			December 31, 2025			March 31, 2025
Real estate loans:
One-to-four-family residential		$	1,763		$	2,712		$	3,043
Home equity			1,673			1,359			1,157
Commercial real estate			394			855			841
Construction and land development			10			10			10
Commercial and industrial			38,885			36,251			4,560
Consumer			2,838			2,184			1,761
Total		$	45,563		$	43,371		$	11,372
Total non-performing loans to total loans			0.73 %			0.72 %			0.25 %
Total non-performing PCD loans to total loans			0.49 %			0.60 %			0.00 %
Total non-performing non-PCD loans to total loans			0.24 %			0.12 %			0.25 %
Total non-performing assets to total assets			0.63 %			0.62 %			0.22 %
Total non-performing PCD assets to total assets			0.42 %			0.51 %			0.00 %
Total non-performing non-PCD assets to total assets			0.21 %			0.11 %			0.22 %

(1)	Non-performing loans and assets are comprised of non-accrual loans

NB BANCORP, INC.
ASSET QUALITY – PROVISION, ALLOWANCE, AND NET (CHARGE-OFFS) RECOVERIES
(Unaudited)
(Dollars in thousands)
	For the Three Months Ended
	March 31, 2026			December 31, 2025			March 31, 2025
Allowance for credit losses at beginning of the period	$	87,411		$	43,052		$	38,744
Adjustment to allowance for Provident acquisition		—			50,271			—
Provision for (release of) credit losses		6,382			(1,555)			947
Charge-offs:
One-to-Four-Family Residential		(56)			—			—
Commercial & Industrial		(12,370)			(3,763)			—
Consumer		(1,409)			(1,325)			(1,558)
Commercial real estate		—			(17)			—
Total charge-offs		(13,835)			(5,105)			(1,558)
Recoveries of loans previously charged off:
Commercial and industrial		12			562			12
Consumer		225			186			193
Total recoveries		237			748			205
Net charge-offs		(13,598)			(4,357)			(1,353)
Allowance for credit losses at end of the period	$	80,195		$	87,411		$	38,338
Allowance to non-performing loans		176 %			202 %			337.1 %
Allowance to total loans outstanding at the end of the period		1.29 %			1.46 %			0.86 %
Annualized net charge-offs to average loans outstanding during the period		(0.91) %			(0.32) %			(0.13) %
Annualized net charge-offs to average loans outstanding during the period - PCD loans		(0.82) %			0.00 %			0.00 %
Annualized net charge-offs to average loans outstanding during the period - Non-PCD loans		(0.08) %			(0.32) %			(0.13) %

 

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SOURCE Needham Bank

FAQ

What were NB Bancorp (NBBK) Q1 2026 earnings per share and net income?

Net income was $15.0 million, or $0.36 per diluted share for Q1 2026. According to the company, operating net income excluding one-time charges was $15.8 million, or $0.38 per diluted share.

How did NB Bancorp's loan and deposit balances change in Q1 2026 (NBBK)?

Gross loans increased to $6.21 billion, up $223.8 million quarter-over-quarter. According to the company, total deposits rose $243.5 million to $6.10 billion, with core deposits increasing to $5.53 billion.

What dividend did NB Bancorp (NBBK) declare and when is the payment date?

The board declared a quarterly cash dividend of $0.07 per share. According to the company, the dividend is payable on May 20, 2026 to shareholders of record on May 6, 2026.

Why did NB Bancorp's provision for credit losses increase in Q1 2026?

Provision for credit losses rose to $6.3 million, driven by commercial and industrial loan growth. According to the company, higher quantitative reserves and an elevated qualitative risk grade increased the provision.

What impact did the Provident acquisition have on NB Bancorp's Q1 2026 results (NBBK)?

Provident integration produced one-time M&A costs and higher operating expenses in Q1 2026. According to the company, integration increased headcount, technology investments, and resulted in trailing merger costs of about $534,000 pre-tax.