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

Higher quarterly earnings accompanied narrower lending margins, rising expenses and an increase in nonperforming loans.

Rhea-AI Summary

NB Bancorp (NBBK) reported third-quarter 2026 net income of $23.1 million, with earnings rising from the prior quarter. Diluted earnings per share increased to $0.58 from $0.53, while net interest income rose 3.3% to $71.4 million. Net interest margin narrowed to 3.97% from 4.00%, and noninterest expense increased 5.1% to $46.3 million.

Gross loans grew 5.3% to $6.77 billion, and deposits increased 3.2% to $6.52 billion. Nonperforming loans rose to $36.1 million from $27.7 million; annualized net charge-offs increased to 0.31% of average loans from 0.07%. Cash fell 33.5% to $266.1 million amid loan growth and borrowing repayments. Tangible book value per share increased to $18.91 from $18.51. The board declared a $0.07 quarterly dividend, payable November 12, 2026, to shareholders of record October 29, 2026.

20 points · 0 major

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0 major · 17 points

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Positive

• Moderate pointNet income rose to $23.1 million from $21.1 million; diluted EPS increased to $0.58 from $0.53 quarter over quarter.
• Moderate pointNet interest income increased 3.3% to $71.4 million from $69.1 million in the prior quarter.
• Moderate pointGross loans increased $343.0 million, or 5.3%, to $6.77 billion during the quarter.
• Moderate pointCore deposits, defined as non-brokered deposits, increased $228.5 million, or 4.1%, to $5.83 billion quarter over quarter.
• Minor pointFHLB borrowings were paid down by $30.9 million during the quarter.

15 minor points

• Minor pointReturn on average assets increased to 1.23% from 1.17% in the prior quarter.
• Minor pointReturn on average equity increased to 10.73% from 10.03% in the prior quarter.
• Minor pointBook value per share increased to $19.57 from $19.22 in the prior quarter.
• Minor pointTangible book value per share increased to $18.91 from $18.51 in the prior quarter.
• Minor pointShareholders’ equity increased $15.4 million, or 1.8%, to $857.4 million during the quarter.
• Minor pointLoan credit-loss provision decreased 53.5% to $1.4 million, reflecting reduced specific reserve requirements.
• Minor pointUnfunded commitments generated a $145 thousand credit-loss reserve release, versus a $199 thousand provision in the prior quarter.
• Minor pointAcquired non-strategic enterprise value loans declined to $95.9 million from $207.0 million at acquisition.
• Minor pointCannabis facility real estate loans declined 6.9% to $195.5 million; all relationships were current at quarter-end.
• Minor pointMulti-family real estate loans increased 3.0% to $585.0 million; all were performing at quarter-end.
• Minor pointOffice real estate loans totaled $365.0 million, with all loans performing at quarter-end.
• Minor pointSwap contract income increased to $479 thousand from $72 thousand in the prior quarter.
• Minor pointMarketing and charitable contribution expenses decreased $457 thousand, or 29.9%, from the prior quarter.
• Minor pointGeneral and administrative expenses decreased $452 thousand, or 13.8%, from the prior quarter.
• Minor pointIncome tax expense decreased 7.6% to $5.9 million; the effective rate fell to 20.3% from 23.2%.

Negative

• Moderate pointNonperforming loans increased 30.4% to $36.1 million, reaching 0.53% of loans versus 0.43% last quarter.
• Moderate pointAnnualized net charge-offs increased to 0.31% of average loans from 0.07%, including a previously reserved $4.0 million acquired-loan charge-off.
• Moderate pointCredit-loss allowance declined to $78.3 million from $82.1 million; nonperforming-loan coverage fell to 217% from 297%.
• Moderate pointCash and cash equivalents decreased $134.1 million, or 33.5%, to $266.1 million during the quarter.
• Moderate pointSalaries and benefits expenses increased 7.6% to $27.5 million from $25.5 million in the prior quarter.

12 minor points

• Minor pointNet interest margin declined 3 basis points to 3.97% from 4.00% in the prior quarter.
• Minor pointMargin excluding purchase accounting adjustments declined 6 basis points to 3.81% from 3.87% in the prior quarter.
• Minor pointOccupancy and equipment expenses increased 23.5% to $3.0 million, including $347 thousand in contract settlement fees.
• Minor pointData processing expenses increased 9.2% to $5.4 million, including parallel operation of systems during implementation.
• Minor pointDirector and professional service fees increased 9.0% to $4.2 million, including $524 thousand in contract settlement fees.
• Minor pointEfficiency ratio increased to 60.5% from 58.9%; the operating ratio increased to 59.3% from 57.7%.
• Minor pointLoan sale results shifted to a $185 thousand loss from a $227 thousand gain in the prior quarter.
• Minor pointCustomer service fees decreased 4.8% to $3.5 million from $3.7 million in the prior quarter.
• Minor pointOther income decreased 36.6% to $333 thousand from $525 thousand in the prior quarter.
• Minor pointAccrued expenses and other liabilities increased $49.9 million, or 64.3%, to $127.4 million during the quarter.
• Minor pointEquity-to-assets ratio declined to 11.2% from 11.3%; the tangible ratio declined to 10.8% from 10.9%.
• Minor pointAccumulated other comprehensive loss increased $7.4 million as market rates rose during the quarter.

Key Figures

Net income: $23.1 million Diluted EPS: $0.58 per diluted common share Quarterly cash dividend: $0.07 per share +5 more

Net income

$23.1 million

Third quarter 2026; compared with $21.1 million in the prior quarter

Diluted EPS

$0.58 per diluted common share

Third quarter 2026; compared with $0.53 in the prior quarter

Quarterly cash dividend

$0.07 per share

Payable November 12, 2026; record date October 29, 2026

Net interest margin

3.97%

Third quarter 2026; down from 4.00% in the prior quarter

Annualized net charge-offs

0.31% of average loans

Compared with 0.07% in the prior quarter

Non-performing loans

0.53% of total loans

At quarter-end; compared with 0.43% at the end of the prior quarter

Gross loan growth

5.3%

During the third quarter of 2026

Deposit growth

3.2%

During the third quarter of 2026

Previous Dividends,earnings Reports

1 past event · Latest: Jul 22

Same Type 1 event

1. Jul 22

   Quarterly earnings

   24h Move

   +5.7%

   Reported prior-quarter net income and declared the same quarterly cash dividend.

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

Key Terms

net interest margin, non-performing loans, allowance for credit losses, purchase accounting adjustments

4 terms

net interest margin financial

"Net interest margin declined by 3 basis points to 3.97%"

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.

non-performing loans financial

"Non-performing loans as a percent of total loans increased to 0.53%"

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.

allowance for credit losses financial

"The allowance for credit losses ("ACL") amounted to $78.3 million"

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.

purchase accounting adjustments financial

"Net interest margin, excluding purchase accounting adjustments"

Purchase accounting adjustments are one-time changes made to a company’s financial statements after it buys another business, reallocating the purchase price to the acquired assets and liabilities at their fair values. Like re-appraising a house and its contents after a sale, these adjustments can shift reported assets, liabilities and future profit figures, so investors watch them because they affect balance sheets, reported earnings and comparisons with past performance.

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

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NEEDHAM, Mass., Oct. 15, 2026 /PRNewswire/ -- NB Bancorp, Inc. (the "Company") (Nasdaq Capital Market: NBBK), the holding company of Needham Bank (the "Bank"), today announced its third quarter 2026 financial results.

SELECTED FINANCIAL HIGHLIGHTS FOR THE THIRD QUARTER OF 2026

• Net income for the third quarter of 2026 amounted to $23.1 million, or $0.58 per diluted common share, compared to net income of $21.1 million, or $0.53 per diluted common share, for the prior quarter. Return on average assets and return on average equity for the third quarter of 2026 were 1.23% and 10.73%, respectively, representing increases from 1.17% and 10.03%, respectively, for the prior quarter.
• Operating net income⁽¹⁾ for the third quarter of 2026 increased 8.9% and amounted to $23.8 million, or $0.60 per diluted common share, compared to operating net income⁽¹⁾ of $21.9 million, or $0.55 per diluted common share, for the prior quarter. Operating return on average assets⁽¹⁾ and operating return on average equity⁽¹⁾ for the third quarter of 2026 were 1.26% and 11.05%, respectively, representing increases from 1.21% and 10.39%, respectively, for the prior quarter.
  
  One-time pre-tax charged during the current quarter include:

• • Contract settlement fees of $871 thousand ($695 thousand net of tax);

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

• • Non-recurring fees for business line expansion of $649 thousand ($499 thousand net of tax);
  • Final merger and acquisition costs of $296 thousand ($227 thousand net of tax) related to the Company's acquisition of Provident; and
  • Tax expense and a modified endowment contract penalty of $27 thousand related to the surrender of Bank-owned life insurance ("BOLI") policies acquired from BankProv.
    
    
• Net interest margin declined by 3 basis points to 3.97% from 4.00% in the prior quarter as gross loans increased 5.3% while total deposits increased 3.2% during the current quarter. Net interest margin, excluding purchase accounting adjustments⁽¹⁾, declined by 6 basis points to 3.81% during the current quarter from 3.87% in the prior quarter.
• Efficiency ratio increased to 60.5% from 58.9% in the prior quarter, while operating efficiency ratio⁽¹⁾ increased to 59.3% from 57.7% in the prior quarter.
• Net charge-offs (annualized) as a percent of average loans increased to 0.31% from 0.07% in the prior quarter, primarily from the charge off of a previously reserved for purchased-credit-deteriorated ("PCD") C&I loan of $4.0 million from the acquisition of BankProv. Non-performing loans as a percent of total loans increased to 0.53% at the end of the third quarter from 0.43% at the end of the prior quarter as a result of an acquired loan being placed on non-accrual during the current quarter. We continue to actively reduce the non-strategic enterprise value loan portfolio acquired from BankProv, which has reduced from $207.0 million at acquisition to $95.9 million as of September 30, 2026.
• Book value per share and tangible book value per share⁽¹⁾ were $19.57 and $18.91, respectively, in the current quarter, compared to $19.22 and $18.51, respectively, in the prior quarter. The increase in tangible book value per share⁽¹⁾ was a result of $23.1 million in net income for the quarter, partially offset by increased accumulated other comprehensive loss of $7.4 million resulting from market rate increases and $3.0 million in dividends paid during the quarter.

"The third quarter of 2026 displayed Needham Bank's continued execution of our growth strategy as we continue to take market share and go up market for new customers. In the third quarter, gross loans increased 5.3%, while total deposits increased 3.2%. Through the first three quarters of 2026, total loans and total deposits have increased by 17.4% and 15.2%, respectively, on an annualized basis, while operating EPS has increased 27%. Our strong earnings performance reflects the continued momentum of our franchise, disciplined execution of our growth strategy, and the trust our customers place in us. We are expanding thoughtfully, investing in our capabilities and talent, and maintaining a strong balance sheet and prudent risk management. As we look ahead, we remain confident in our ability to deliver sustainable growth and long-term value for our customers, employees, communities, and shareholders," stated Joseph Campanelli, Chairman, President and Chief Executive Officer.

Declaration of Dividend
The Board of Directors declared a quarterly cash dividend of $0.07 per share, payable on November 12, 2026, to shareholders of record as of October 29, 2026.

BALANCE SHEET
Total assets amounted to $7.68 billion as of September 30, 2026, representing an increase of $237.1 million, or 3.2%, from $7.45 billion as of June 30, 2026.

• Cash and cash equivalents decreased $134.1 million, or 33.5%, to $266.1 million from $400.2 million in the prior quarter, as a result of loan growth of $346.7 million and Federal Home Loan Bank ("FHLB") borrowings paydowns of $30.9 million, partially offset by deposit growth of $201.3 million, along with net income earned during the quarter of $23.1 million.
• Gross loans increased $343.0 million, or 5.3%, to $6.77 billion, from $6.42 billion in the prior quarter. Net loans increased $346.7 million, or 5.5%, to $6.69 billion, from $6.34 billion in the prior quarter as loan demand remained strong and we continued to execute our strategic plan. The current quarter change was primarily seen in commercial real estate loans, excluding multi-family real estate loans, which increased $183.2 million, or 8.6%, construction and land development loans, which increased $80.8 million, or 10.6%, residential real estate loans, which increased $43.5 million, or 3.1%, and mortgage warehouse loans, which increased $20.4 million, or 9.4%.
• Deposits increased $201.3 million, or 3.2%, to $6.52 billion from $6.32 billion in the prior quarter.
  • Core deposits, which the Company considers to be all non-brokered deposits, increased $228.5 million, or 4.1%, to $5.83 billion, from $5.60 billion in the prior quarter. The change in core deposits was primarily the result of money market accounts, which increased $111.9 million, or 6.7%, customer certificates of deposits, which increased $48.8 million, or 2.4%, noninterest bearing demand deposits, which increased $44.9 million, or 4.7%, and NOW accounts, which increased $15.1 million, or 2.0%.
  • Brokered deposits decreased $27.2 million, or 3.8%, to $692.6 million, from $719.9 million in the prior quarter.
• Accrued expenses and other liabilities increased $49.9 million, or 64.3%, to $127.4 million from $77.5 million in the prior quarter, primarily as a result of the Company calling $20.4 million in collateral on our derivatives and a $15.8 million increase in the value of our derivatives driven by market rate changes, a $4.8 million increase in deferred solar investments for two new solar tax credit investments closed during the current quarter, a $1.4 million discount on low income housing tax credits purchased during the current quarter and additional increases for normal quarterly accruals based on financial results and headcount including federal income taxes, bonus and payroll.
• Shareholders' equity increased $15.4 million, or 1.8%, to $857.4 million, from $842.0 million in the prior quarter, primarily as a result of net income of $23.1 million, partially offset by increased accumulated other comprehensive losses driven by increased market rates and $3.0 million in dividends paid during the current quarter. Shareholders' equity to total assets and tangible shareholders' equity⁽¹⁾ to tangible assets were 11.2% and 10.8%, respectively, at the end of the current quarter, compared to 11.3% and 10.9%, respectively, at the end of the prior quarter.

NET INTEREST INCOME
Net interest income increased $2.3 million, or 3.3%, to $71.4 million for the current quarter, compared to $69.1 million for the prior quarter. Net interest margin declined 3 basis points to 3.97% for the current quarter, from 4.00% in the prior quarter.

• Interest income increased during the current quarter, primarily attributable to an increase in the average balance of loans as a result of the continued execution of our growth strategy.
• Interest expense increased for the current quarter, primarily driven by increases in the average balances of certificates of deposit and individual retirement accounts and money market accounts, along with an increase in the average balance of Federal Reserve Bank ("FRB") borrowings, partially offset by a decrease in the average balance of FHLB borrowings.

PROVISION FOR CREDIT LOSSES
Provision for credit losses decreased $1.9 million, or 61.0%, to a provision for credit losses of $1.2 million for the current quarter, compared to a provision for credit losses of $3.2 million for the prior quarter.

• The provision for credit losses on loans decreased $1.6 million, or 53.5%, to $1.4 million for the current quarter, compared to $3.0 million for the prior quarter, primarily driven by improvements in the credit quality of our individually evaluated loans resulting in reduced specific reserve requirements.

NONINTEREST INCOME
Noninterest income decreased $454 thousand, or 8.2%, to $5.1 million for the current quarter, compared to $5.6 million for the prior quarter.

• Gain (loss) on sale of loans, net, decreased $412 thousand to a $185 thousand loss in the current quarter, compared to a $227 thousand gain in the prior quarter, resulting from the deterioration in the fair market value of consumer loans held for sale during the current quarter.
• Other income decreased $192 thousand, or 36.6%, to $333 thousand for the current quarter, compared to $525 thousand in the prior quarter, primarily driven by $229 thousand of credit card branding and marketing income recognized during the prior quarter.
• Customer service fees decreased $176 thousand, or 4.8%, to $3.5 million for the current quarter, compared to $3.7 million in the prior quarter due to decreased loan fee income.
• The above decreases were partially offset by an increase in swap contract income of $407 thousand, or 565.3%, to $479 thousand for the current quarter, compared to $72 thousand for the prior quarter due to increased origination of swaps in the current quarter.

NONINTEREST EXPENSE
Noninterest expense increased $2.3 million, or 5.1%, to $46.3 million for the current quarter, compared to $44.0 million for the prior quarter.

• Salaries and employee benefits expenses increased $2.0 million, or 7.6%, to $27.5 million for the current quarter, compared to $25.5 million for the prior quarter, primarily resulting from continued hirings and business line expansion, including branch expansion and the build out of other growth initiatives which will provide benefit in the years ahead.
• Occupancy and equipment expenses increased $579 thousand, or 23.5%, to $3.0 million for the current quarter, compared to $2.5 million for the prior quarter, primarily resulting from contract settlement fees of $347 thousand.
• Data processing expenses increased $452 thousand, or 9.2%, to $5.4 million for the current quarter, compared to $4.9 million for the prior quarter, primarily driven by our continued investment in technology and systems in support of upcoming revenue initiatives, requiring the operation of systems in parallel for a period of time while new systems are implemented.
• Director and professional service fees increased $342 thousand, or 9.0%, to $4.2 million for the current quarter, compared to $3.8 million for the prior quarter, primarily driven by contract settlement fees of $524 thousand.
• The above increases were partially offset by reductions of $457 thousand, or 29.9%, in marketing and charitable contributions, as a result of reduced media expenditures and reductions of $452 thousand, or 13.8%, in general and administrative expenses, primarily driven by a $296 thousand reduction in merger and acquisition expenses and a $176 thousand reduction in education and training expenses during the current quarter.

INCOME TAXES
Income tax expense decreased $486 thousand, or 7.6%, to $5.9 million for the current quarter, compared to $6.4 million for the prior quarter. The effective tax rate and the operating effective tax rate⁽¹⁾ were both 20.3% for the current quarter, compared to 23.2% and 23.1%, respectively, for the prior quarter. The primary driver of the decrease in income tax expense and the effective tax rate were state tax credits purchased during the current quarter.

COMMERCIAL REAL ESTATE PORTFOLIO
Commercial real estate loans, including multi-family real estate loans, increased $200.5 million, or 7.5%, to $2.89 billion, during the current quarter.

• Cannabis facility commercial real estate loans decreased $14.6 million, or 6.9%, to $195.5 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 $17.2 million, or 3.0%, during the current quarter to $585.0 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 $365.0 million commercial real estate 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 and all loans is performing at the end of the current quarter.

ASSET QUALITY

• The allowance for credit losses ("ACL") amounted to $78.3 million as of September 30, 2026, or 1.16% of gross loans, compared to $82.1 million, or 1.28% of gross loans as of June 30, 2026.
• The Company recorded a provision for credit losses of $1.2 million during the current quarter, which included a provision for credit losses on loans of $1.4 million and a release of credit losses for unfunded commitments of $145 thousand, compared to a provision for credit losses of $3.2 million during the prior quarter, which included a provision for credit losses on loans of $3.0 million and a provision for credit losses for unfunded commitments of $199 thousand.
• The decrease in the ACL for the current quarter was primarily driven by reduced specific reserve requirements on individually assessed loans due to credit improvements and a charge off of a previously reserved PCD C&I loan of $4.0 million, partially offset by current quarter loan growth.
• Non-performing loans ("NPLs") increased $8.4 million, or 30.4%, to $36.1 million as of September 30, 2026, from $27.7 million at the end of the prior quarter. The increase was primarily due to a commercial real estate loan acquired from BankProv being placed on non-accrual during the current quarter. The ACL as a percent of NPLs is 217% as of September 30, 2026, a decrease from 297% at the end of the prior quarter, primarily from a charge off of a PCD C&I loan of $4.0 million, partially offset by the increase in commercial real estate loans on non-accrual of $12.6 million.
• During the current quarter, the Company recorded total net charge-offs of $5.2 million, or 0.31% of average total loans on an annualized basis, compared to net charge-offs of $1.1 million, or 0.07% of average total loans on an annualized basis, in the prior quarter. The $4.1 million increase in net charge-offs during the current quarter was primarily a result of a $4.0 million charge off on a previously reserved PCD C&I loan which was identified as a PCD loan at acquisition and was fully reserved for in the prior quarter. No additional provisions were recognized during the current quarter to reserve for losses against this loan.
• 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 and commercial and industrial loans. These loans are primarily made to individuals and businesses located in the Greater Boston metropolitan area and surrounding communities in greater New England.

^{(1) Represents a non-GAAP measure. See Non-GAAP reconciliation of the corresponding GAAP measures on pages 13 and 14.}

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. 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, net interest income, excluding purchase accounting adjustments, operating noninterest expense, operating income tax expense, 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 shareholders, 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
	September 30, 2026			June 30, 2026			September 30, 2025
Earnings data
Net interest income	$	71,440		$	69,145		$	48,175
Noninterest income		5,105			5,559			3,682
Total revenue		76,545			74,704			51,857
Provision for credit losses		1,246			3,193			1,396
Noninterest expense		46,281			44,017			30,499
Pre-tax income		29,018			27,494			19,962
Net income		23,133			21,123			15,362
Operating net income (non-GAAP)		23,828			21,877			16,002
Operating noninterest expense (non-GAAP)		45,410			43,072			30,244
Per share data
Earnings per share, basic	$	0.59		$	0.53		$	0.43
Earnings per share, diluted		0.58			0.53			0.43
Operating earnings per share, basic (non-GAAP)		0.60			0.55			0.45
Operating earnings per share, diluted (non-GAAP)		0.60			0.55			0.45
Book value per share		19.57			19.22			18.51
Tangible book value per share (non-GAAP)		18.91			18.51			18.49
Profitability
Return on average assets		1.23 %			1.17 %			1.16 %
Operating return on average assets (non-GAAP)		1.26 %			1.21 %			1.20 %
Return on average shareholders' equity		10.73 %			10.03 %			8.35 %
Operating return on average shareholders' equity (non-GAAP)		11.05 %			10.39 %			8.70 %
Net interest margin		3.97 %			4.00 %			3.78 %
Net interest margin, excluding purchase accounting adjustments		3.81 %			3.87 %			3.78 %
Cost of deposits		2.69 %			2.68 %			2.92 %
Efficiency ratio		60.5 %			58.9 %			58.8 %
Operating efficiency ratio (non-GAAP)		59.3 %			57.7 %			58.3 %
Balance sheet, end of period
Total assets	$	7,683,996		$	7,446,880		$	5,442,446
Total loans		6,821,759			6,482,821			4,715,923
Total deposits		6,521,396			6,320,090			4,565,720
Total shareholders' equity		857,403			842,002			737,034
Asset quality
ACL	$	78,305		$	82,088		$	43,052
ACL / Total NPLs		217.1 %			296.8 %			379.1 %
Total NPLs / Total loans		0.53 %			0.43 %			0.24 %
Annualized net charge-offs / Average total loans		(0.31) %			(0.07) %			(0.05) %
Capital ratios
Shareholders' equity / Total assets		11.16 %			11.31 %			13.54 %
Tangible shareholders' equity / tangible assets (non-GAAP)		10.82 %			10.94 %			13.53 %

NB BANCORP, INC.
CONSOLIDATED BALANCE SHEETS
(Unaudited)
(Dollars in thousands, except share and per share data)
	As of									September 30, 2026 change from
	September 30, 2026			June 30, 2026			September 30, 2025			June 30, 2026				September 30, 2025
Assets
Cash and due from banks	$	238,502		$	372,522		$	197,604		$	(134,020)	(36.0) %		$	40,898	20.7 %
Federal funds sold		27,555			27,632			97,829			(77)	(0.3) %			(70,274)	(71.8) %
Total cash and cash equivalents		266,057			400,154			295,433			(134,097)	(33.5) %			(29,376)	(9.9) %
Available-for-sale securities, at fair value		279,518			272,640			231,023			6,878	2.5 %			48,495	21.0 %
Loans held for sale, at fair value		55,906			59,927			-			(4,021)	(6.7) %			55,906	0.0 %
Loans receivable, net of deferred fees		6,765,853			6,422,894			4,715,923			342,959	5.3 %			2,049,930	43.5 %
Allowance for credit losses		(78,305)			(82,088)			(43,052)			3,783	(4.6) %			(35,253)	81.9 %
Net loans		6,687,548			6,340,806			4,672,871			346,742	5.5 %			2,014,677	43.1 %
Accrued interest receivable		29,971			28,898			21,074			1,073	3.7 %			8,897	42.2 %
Banking premises and equipment, net		51,107			49,298			33,842			1,809	3.7 %			17,265	51.0 %
Non-public investments		49,161			42,029			44,531			7,132	17.0 %			4,630	10.4 %
Bank-owned life insurance ("BOLI")		98,178			97,370			56,342			808	0.8 %			41,836	74.3 %
Prepaid expenses and other assets		71,048			69,228			57,720			1,820	2.6 %			13,328	23.1 %
Goodwill		16,520			18,512			-			(1,992)	(10.8) %			16,520	0.0 %
Core deposit intangible, net		16,628			17,519			967			(891)	(5.1) %			15,661	1619.5 %
Deferred income tax asset, net		62,354			50,499			28,643			11,855	23.5 %			33,711	117.7 %
Total assets	$	7,683,996		$	7,446,880		$	5,442,446		$	237,116	3.2 %		$	2,241,550	41.2 %
Liabilities and shareholders' equity
Deposits
Core deposits	$	5,828,759		$	5,600,238		$	4,177,047		$	228,521	4.1 %		$	1,651,712	39.5 %
Brokered deposits		692,637			719,852			388,673			(27,215)	(3.8) %			303,964	78.2 %
Total deposits		6,521,396			6,320,090			4,565,720			201,306	3.2 %			1,955,676	42.8 %
Mortgagors' escrow accounts		4,919			4,420			4,543			499	11.3 %			376	8.3 %
Federal Home Loan Bank ("FHLB") borrowings		150,322			181,247			41,453			(30,925)	(17.1) %			108,869	262.6 %
Accrued expenses and other liabilities		127,414			77,549			73,139			49,865	64.3 %			54,275	74.2 %
Accrued retirement liabilities		22,542			21,572			20,557			970	4.5 %			1,985	9.7 %
Total liabilities		6,826,593			6,604,878			4,705,412			221,715	3.4 %			2,121,181	45.1 %
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; 43,818,490 issued and
outstanding at September 30, 2026 and June 30, 2026 and 39,826,446 issued and outstanding
at September 30, 2025		438			438			398			-	0.0 %			40	10.1 %
Additional paid-in capital		417,943			415,841			342,526			2,102	0.5 %			75,417	22.0 %
Unallocated common shares held by the Employee Stock Ownership Plan ("ESOP")		(40,690)			(41,285)			(43,049)			595	(1.4) %			2,359	(5.5) %
Retained earnings		495,082			474,970			440,281			20,112	4.2 %			54,801	12.4 %
Accumulated other comprehensive loss		(15,370)			(7,962)			(3,122)			(7,408)	93.0 %			(12,248)	392.3 %
Total shareholders' equity		857,403			842,002			737,034			15,401	1.8 %			120,369	16.3 %
Total liabilities and shareholders' equity	$	7,683,996		$	7,446,880		$	5,442,446		$	237,116	3.2 %		$	2,241,550	41.2 %

NB BANCORP, INC.
CONSOLIDATED STATEMENTS OF INCOME
(Unaudited)
(Dollars in thousands, except share and per share data)
	For the Three Months Ended									Change From Three Months Ended
	September 30, 2026			June 30, 2026			September 30, 2025			June 30, 2026				September 30, 2025
INTEREST AND DIVIDEND INCOME
Interest and fees on loans	$	110,730		$	106,574		$	77,365		$	4,156	3.9 %		$	33,365	43.1 %
Interest on securities		3,144			2,758			2,253			386	14.0 %			891	39.5 %
Interest and dividends on cash equivalents and other		2,282			2,460			2,070			(178)	(7.2) %			212	10.2 %
Total interest and dividend income		116,156			111,792			81,688			4,364	3.9 %			34,468	42.2 %
INTEREST EXPENSE
Interest on deposits		42,896			40,686			31,273			2,210	5.4 %			11,623	37.2 %
Interest on borrowings		1,820			1,961			2,240			(141)	(7.2) %			(420)	(18.8) %
Total interest expense		44,716			42,647			33,513			2,069	4.9 %			11,203	33.4 %
NET INTEREST INCOME		71,440			69,145			48,175			2,295	3.3 %			23,265	48.3 %
PROVISION FOR CREDIT LOSSES
Provision for credit losses - loans		1,391			2,994			1,041			(1,603)	(53.5) %			350	33.6 %
(Release of) provision for credit losses - unfunded commitments		(145)			199			355			(344)	(172.9) %			(500)	(140.8) %
Total provision for credit losses		1,246			3,193			1,396			(1,947)	(61.0) %			(150)	(10.7) %
NET INTEREST INCOME AFTER
PROVISION FOR CREDIT LOSSES		70,194			65,952			46,779			4,242	6.4 %			23,415	50.1 %
NONINTEREST INCOME
Customer service fees		3,505			3,681			2,498			(176)	(4.8) %			1,007	40.3 %
Increase in cash surrender value of BOLI		808			962			631			(154)	(16.0) %			177	28.1 %
Mortgage banking income		165			92			148			73	79.3 %			17	11.5 %
Swap contract income		479			72			208			407	565.3 %			271	130.3 %
Gain (loss) on sale of loans, net		(185)			227			45			(412)	(181.5) %			(230)	(511.1) %
Other income		333			525			152			(192)	(36.6) %			181	119.1 %
Total noninterest income		5,105			5,559			3,682			(454)	(8.2) %			1,423	38.6 %
NONINTEREST EXPENSE
Salaries and employee benefits		27,499			25,549			18,641			1,950	7.6 %			8,858	47.5 %
Director and professional service fees		4,158			3,816			2,920			342	9.0 %			1,238	42.4 %
Occupancy and equipment expenses		3,047			2,468			1,559			579	23.5 %			1,488	95.4 %
Data processing expenses		5,351			4,899			2,911			452	9.2 %			2,440	83.8 %
Marketing and charitable contribution expenses		1,073			1,530			949			(457)	(29.9) %			124	13.1 %
FDIC and state insurance assessments		1,434			1,584			928			(150)	(9.5) %			506	54.5 %
Core deposit intangible amortization expense		892			892			37			-	0.0 %			855	2310.8 %
General and administrative expenses		2,827			3,279			2,554			(452)	(13.8) %			273	10.7 %
Total noninterest expense		46,281			44,017			30,499			2,264	5.1 %			15,782	51.7 %
INCOME BEFORE TAXES		29,018			27,494			19,962			1,524	5.5 %			9,056	45.4 %
INCOME TAX EXPENSE		5,885			6,371			4,600			(486)	(7.6) %			1,285	27.9 %
NET INCOME	$	23,133		$	21,123		$	15,362		$	2,010	9.5 %		$	7,771	50.6 %
Weighted average common shares outstanding, basic		39,432,499			39,693,140			35,372,205			(260,641)	(0.7) %			4,060,294	11.5 %
Weighted average common shares outstanding, diluted		39,833,964			40,000,305			35,579,456			(166,341)	(0.4) %			4,254,508	12.0 %
Earnings per share, basic	$	0.59		$	0.53		$	0.43		$	0.06	11.3 %		$	0.16	37.2 %
Earnings per share, diluted	$	0.58		$	0.53		$	0.43		$	0.05	9.4 %		$	0.15	34.9 %

 

NB BANCORP, INC. AVERAGE BALANCES, INTEREST EARNED/PAID & AVERAGE YIELDS (Unaudited) (Dollars in thousands)
		For the Three Months Ended
		September 30, 2026								June 30, 2026								September 30, 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)		$	6,599,690		$	110,730		6.66	%	$	6,377,025		$	106,574		6.70	%	$	4,612,631		$	77,365		6.65	%
Securities			280,383			3,144		4.45	%		279,196			2,758		3.96	%		236,187			2,253		3.78	%
Other investments (5)			22,788			252		4.39	%		34,301			612		7.16	%		32,585			223		2.72	%
Short-term investments (5)			243,386			2,030		3.31	%		237,667			1,848		3.12	%		178,290			1,847		4.11	%
Total interest-earning assets			7,146,247			116,156		6.45	%		6,928,189			111,792		6.47	%		5,059,693			81,688		6.41	%
Non-interest-earning assets			409,580								394,611								256,928
Allowance for credit losses			(81,486)								(81,276)								(42,746)
Total assets		$	7,474,341							$	7,241,524							$	5,273,875
Interest-bearing liabilities:
Savings accounts		$	218,715			488		0.89	%	$	210,544			324		0.62	%	$	121,704			181		0.59	%
NOW accounts			770,406			2,771		1.43	%		701,167			2,265		1.30	%		467,761			1,397		1.18	%
Money market accounts			1,735,863			13,305		3.04	%		1,699,366			12,783		3.02	%		1,119,539			9,331		3.31	%
Certificates of deposit and individual retirement accounts			2,682,909			26,332		3.89	%		2,595,290			25,314		3.91	%		1,933,665			20,364		4.18	%
Total interest-bearing deposits			5,407,893			42,896		3.15	%		5,206,367			40,686		3.13	%		3,642,669			31,273		3.41	%
FHLB borrowings			78,665			868		4.38	%		208,453			1,956		3.76	%		199,852			2,240		4.45	%
FRB borrowings			100,543			952		3.76	%		549			5		3.65	%		—			—		—	%
Total interest-bearing liabilities			5,587,101			44,716		3.18	%		5,415,369			42,647		3.16	%		3,842,521			33,513		3.46	%
Non-interest-bearing deposits			915,117								883,487								606,046
Other non-interest-bearing liabilities			116,917								98,225								95,329
Total liabilities			6,619,135								6,397,081								4,543,896
Shareholders' equity			855,206								844,443								729,979
Total liabilities and shareholders' equity		$	7,474,341							$	7,241,524							$	5,273,875
Net interest income					$	71,440							$	69,145							$	48,175
Net interest rate spread (1)								3.27	%							3.31	%							2.95	%
Net interest-earning assets (2)		$	1,559,146							$	1,512,820							$	1,217,172
Net interest margin (3)								3.97	%							4.00	%							3.78	%
Average interest-earning assets to interest-bearing liabilities			127.91	%							127.94	%							131.68	%

(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)
	September 30, 2026
	Owner-Occupied			Non-Owner-Occupied			Balance			Percentage
Multi-Family	$	—		$	584,967		$	584,967			19 %
Industrial		194,827			166,816			361,643			13 %
Office		43,627			321,332			364,959			13 %
Hospitality		811			305,332			306,143			11 %
Retail		126,658			199,417			326,075			11 %
Mixed-Use		24,524			237,946			262,470			9 %
Cannabis Facility		186,687			8,827			195,514			7 %
Special Purpose		83,062			115,289			198,351			7 %
Recreational Vehicle Parks		11,057			64,962			76,019			3 %
Self Storage Facilities		—			55,191			55,191			2 %
Other		79,346			79,028			158,374			5 %
Total commercial real estate	$	750,599		$	2,139,107		$	2,889,706			100 %

	Change From June 30, 2026												Change From September 30, 2025
	Owner-Occupied			Non-Owner-Occupied			Balance			Percentage			Owner-Occupied			Non-Owner-Occupied			Balance			Percentage
Multi-Family	$	—		$	17,245		$	17,245			3 %		$	—		$	154,539		$	154,539			36 %
Industrial		9,819			3,704			13,523			4 %			117,339			54,152			171,491			90 %
Office		(1,008)			28,725			27,717			8 %			18,370			137,414			155,784			74 %
Hospitality		(40,455)			58,090			17,635			6 %			(35,362)			93,990			58,628			24 %
Retail		335			90,216			90,551			38 %			88,037			113,078			201,115			161 %
Mixed-Use		2,116			12,554			14,670			6 %			16,509			77,495			94,004			56 %
Cannabis Facility		(14,466)			(86)			(14,552)			(7) %			(68,048)			(341)			(68,389)			(26) %
Special Purpose		(1,593)			45,452			43,859			28 %			2,152			58,523			60,675			44 %
Recreational Vehicle Parks		(2,198)			(200)			(2,398)			(3) %			11,057			64,962			76,019			100 %
Self Storage Facilities		—			(15,956)			(15,956)			(22) %			—			55,191			55,191			100 %
Other		(8,198)			16,361			8,163			5 %			40,741			9,805			50,546			47 %
Total commercial real estate	$	(55,648)		$	256,105		$	200,457			7 %		$	190,795		$	818,808		$	1,009,603			54 %

	June 30, 2026												September 30, 2025
	Owner-Occupied			Non-Owner-Occupied			Balance			Percentage			Owner-Occupied			Non-Owner-Occupied			Balance			Percentage
Multi-Family	$	—		$	567,722		$	567,722			20 %		$	—		$	430,428		$	430,428			23 %
Industrial		185,008			163,112			348,120			13 %			77,488			112,664			190,152			10 %
Office		44,635			292,607			337,242			12 %			25,257			183,918			209,175			11 %
Hospitality		41,266			247,242			288,508			11 %			36,173			211,342			247,515			13 %
Retail		126,323			109,201			235,524			9 %			38,621			86,339			124,960			7 %
Mixed-Use		22,408			225,392			247,800			9 %			8,015			160,451			168,466			9 %
Cannabis Facility		201,153			8,913			210,066			8 %			254,735			9,168			263,903			14 %
Special Purpose		84,655			69,837			154,492			6 %			80,910			56,766			137,676			7 %
Recreational Vehicle Parks		13,255			65,162			78,417			3 %			—			—			—			0 %
Self Storage Facilities		—			71,147			71,147			3 %			—			—			—			0 %
Other		87,544			62,667			150,211			6 %			38,605			69,223			107,828			6 %
Total commercial real estate	$	806,247		$	1,883,002		$	2,689,249			100 %		$	559,804		$	1,320,299		$	1,880,103			100 %

NB BANCORP, INC.
NON-GAAP RECONCILIATION
(Unaudited)
(Dollars in thousands)
	For the Three Months Ended
	September 30, 2026			June 30, 2026			September 30, 2025
Net income (GAAP)	$	23,133		$	21,123		$	15,362
Add (Subtract):
Adjustments to net income:
Non-recurring fees for business line expansion		-			649			-
Contract settlement fees		871			-			-
BOLI surrender tax and modified endowment contract penalty		-			27			-
Defined benefit pension termination refund		-			-			(739)
State tax expense - voluntary disclosure agreements		-			-			561
Merger and acquisition expenses		-			296			994
Total adjustments to net income	$	871		$	972		$	816
Less net tax benefit associated with pre-tax non-GAAP adjustments to net income		176			218			176
Non-GAAP adjustments, net of tax		695			754			640
Operating net income (non-GAAP)	$	23,828		$	21,877		$	16,002
Weighted average common shares outstanding, basic		39,432,499			39,693,140			35,372,205
Weighted average common shares outstanding, diluted		39,833,964			40,000,305			35,579,456
Operating earnings per share, basic (non-GAAP)	$	0.60		$	0.55		$	0.45
Operating earnings per share, diluted (non-GAAP)	$	0.60		$	0.55		$	0.45
Pre-tax income (GAAP)	$	29,018		$	27,494		$	19,962
Add (Subtract):
Adjustments to pre-tax income:
Contract settlement fees		871			-			-
Defined benefit pension termination refund		-			-			(739)
Non-recurring fees for business line expansion		-			649			-
Merger and acquisition expenses		-			296			994
Total adjustments to pre-tax income		871			945			255
Operating pre-tax income (non-GAAP)	$	29,889		$	28,439		$	20,217
Net interest income (GAAP)	$	71,440		$	69,145		$	48,175
Subtract (Add):
Adjustments to net interest income:
Purchase accounting adjustments		2,614			1,972			-
Total impact of non-GAAP net interest income adjustments	$	2,614		$	1,972		$	-
Net interest income, excluding purchase accounting adjustments (non-GAAP)	$	68,826		$	67,173		$	48,175
Noninterest expense (GAAP)	$	46,281		$	44,017		$	30,499
Subtract (Add):
Adjustments to noninterest expense:
Contract settlement fees		871			-			-
Non-recurring fees for business line expansion		-			649			-
Defined benefit pension termination refund		-			-			(739)
Merger and acquisition expenses		-			296			994
Total impact of non-GAAP noninterest expense adjustments	$	871		$	945		$	255
Operating noninterest expense (non-GAAP)	$	45,410		$	43,072		$	30,244
Operating net income (non-GAAP)	$	23,828		$	21,877		$	16,002
Average assets		7,474,341			7,241,524			5,273,875
Operating return on average assets (non-GAAP)		1.26 %			1.21 %			1.20 %
Average shareholders' equity	$	855,206		$	844,443		$	729,979
Operating return on average shareholders' equity (non-GAAP)		11.05 %			10.39 %			8.70 %
Operating noninterest expense (non-GAAP)	$	45,410		$	43,072		$	30,244
Total pre-provision net revenue (net interest income plus total noninterest income)		76,545			74,704			51,857
Operating efficiency ratio (non-GAAP)		59.32 %			57.66 %			58.32 %
Income tax expense (GAAP)	$	5,885		$	6,371		$	4,600
Add (Subtract):
Adjustments to income tax expense:
State tax expense - voluntary disclosure agreements		-			-			(561)
Net tax benefit associated with pre-tax non-GAAP adjustments to net income		176			218			176
BOLI surrender tax and modified endowment contract penalty		-			(27)			-
Total impact of non-GAAP income tax expense adjustments	$	176		$	191		$	(385)
Operating income tax expense (non-GAAP)	$	6,061		$	6,562		$	4,215
Operating effective tax rate (non-GAAP)		20.3 %			23.1 %			20.8 %

	As of
	September 30, 2026			June 30, 2026			September 30, 2025
Total shareholders' equity (GAAP)	$	857,403		$	842,002		$	737,034
Subtract:
Intangible assets (core deposit intangible, net of tax and goodwill)		28,814			31,023			744
Total tangible shareholders' equity (non-GAAP)		828,589			810,979			736,290
Total assets (GAAP)		7,683,996			7,446,880			5,442,446
Subtract:
Intangible assets (core deposit intangible, net of tax and goodwill)		28,814			31,023			744
Total tangible assets (non-GAAP)	$	7,655,182		$	7,415,857		$	5,441,702
Tangible shareholders' equity / tangible assets (non-GAAP)		10.82 %			10.94 %			13.53 %
Total common shares outstanding		43,818,490			43,818,490			39,826,446
Tangible book value per share (non-GAAP)	$	18.91		$	18.51		$	18.49

 

NB BANCORP, INC. ASSET QUALITY – NON-PERFORMING ASSETS (1) (Unaudited) (Dollars in thousands)
		September 30, 2026			June 30, 2026			September 30, 2025
Real estate loans:
One-to-four-family residential		$	3,255		$	2,963		$	2,771
Home equity			1,546			1,547			1,001
Commercial real estate			13,587			957			809
Construction and land development			-			-			10
Commercial and industrial			16,686			20,446			4,686
Consumer			1,002			1,747			2,080
Total		$	36,076		$	27,660		$	11,357
Total non-performing loans to total loans			0.53 %			0.43 %			0.24 %
Total non-performing PCD loans to total loans (2)			0.15 %			0.22 %			0.00 %
Total non-performing non-PCD loans to total loans			0.38 %			0.21 %			0.24 %
Total non-performing assets to total assets			0.47 %			0.37 %			0.21 %
Total non-performing PCD assets to total assets			0.14 %			0.19 %			0.00 %
Total non-performing non-PCD assets to total assets			0.33 %			0.18 %			0.21 %

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

(2) PCD loans were the result of the BankProv acquisition closed on November 15, 2025 and did not exist prior to that date.

 

NB BANCORP, INC. ASSET QUALITY – PROVISION, ALLOWANCE, AND NET (CHARGE-OFFS) RECOVERIES (Unaudited) (Dollars in thousands)
	For the Three Months Ended
	September 30, 2026			June 30, 2026			September 30, 2025
Allowance for credit losses at beginning of the period	$	82,088		$	80,195		$	42,601
Provision for credit losses		1,391			2,994			1,041
Charge-offs:
Commercial & Industrial		(4,044)			(294)			—
Consumer		(1,335)			(2,081)			(693)
Commercial real estate		—			(10)			—
Total charge-offs		(5,379)			(2,385)			(693)
Recoveries of loans previously charged off:
Commercial and industrial		12			1,188			12
Consumer		193			96			91
Total recoveries		205			1,284			103
Net charge-offs		(5,174)			(1,101)			(590)
Allowance for credit losses at end of the period	$	78,305		$	82,088		$	43,052
Allowance to non-performing loans		217 %			297 %			379 %
Allowance to total loans outstanding at the end of the period		1.16 %			1.28 %			0.91 %
Annualized net charge-offs to average loans outstanding during the period		(0.31) %			(0.07) %			(0.05) %
Annualized net charge-offs to average loans outstanding during the period – PCD loans (1)		(0.24) %			0.00 %			0.00 %
Annualized net charge-offs to average loans outstanding during the period – Non-PCD loans		(0.07) %			(0.07) %			(0.05) %

(1) PCD loans were the result of the BankProv acquisition closed on November 15, 2025 and did not exist prior to that date.

 

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SOURCE Needham Bank

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What were NB Bancorp’s third-quarter 2026 earnings?

NB Bancorp earned $23.1 million, or $0.58 per diluted common share, in the third quarter of 2026. That compares with $21.1 million, or $0.53 per diluted common share, in the prior quarter.

When will NB Bancorp pay its quarterly dividend, and how much is it?

NB Bancorp will pay a $0.07 per-share quarterly cash dividend on November 12, 2026, to shareholders of record as of October 29, 2026.

Why did NB Bancorp’s nonperforming loans increase in the third quarter of 2026?

The increase primarily reflected a commercial real estate loan acquired from BankProv being placed on non-accrual, meaning interest was no longer being accrued. Nonperforming loans increased $8.4 million during the quarter.