NB Bancorp Stock Price, News & Analysis
Company Description
NB Bancorp, Inc. (NASDAQ: NBBK) is the registered bank holding company for Needham Bank, a community-focused financial institution headquartered in Needham, Massachusetts. According to company disclosures, Needham Bank has been helping individuals, businesses and non-profits build for their futures since 1892 and is often referred to as the "Builder's Bank." NB Bancorp operates in the regional banking space within the financial services sector and is listed on the Nasdaq Capital Market under the symbol NBBK.
NB Bancorp’s core business, as described in public information, consists of taking deposits from the general public and investing those deposits, together with funds generated from operations, in a range of loan products. These include commercial real estate and multifamily loans, one- to four-family residential real estate loans, construction and land development loans, commercial and industrial loans, consumer loans and other related services. The company reports that these loans are primarily made to individuals and businesses in its primary lending market area.
Business model and banking focus
As a bank holding company, NB Bancorp generates its banking activity through Needham Bank. The bank gathers deposits, including core deposits and brokered deposits, and deploys those funds into its loan portfolio and other interest-earning assets. Company filings describe a loan book that is concentrated in commercial real estate, multifamily residential real estate, one- to four-family residential real estate, construction and land development, commercial and industrial lending and consumer lending.
Within commercial real estate, NB Bancorp has disclosed specific portfolios such as cannabis facility commercial real estate loans, hospitality commercial real estate loans, mixed-use commercial real estate loans, multi-family real estate loans and an office portfolio consisting principally of suburban Class A and B office space used as medical and traditional offices. The company has stated that its multi-family real estate portfolio consists of properties primarily located in the Greater Boston area and that these loans are primarily adjustable-rate and performing, based on recent reporting dates.
Market area and community banking orientation
NB Bancorp identifies itself as the holding company of Needham Bank, which is headquartered in Needham, Massachusetts, approximately 17 miles southwest of Boston’s financial district. Public communications emphasize its role as a community bank serving individuals, businesses and non-profits. The company has discussed expanding its footprint through merger activity, including a definitive merger agreement with Provident Bancorp, Inc., the holding company for BankProv, to extend its branch presence into the North Shore of Massachusetts and Southern New Hampshire.
In connection with that merger agreement, NB Bancorp has highlighted that the combined organization is expected to operate branches across Metrowest, Greater Boston, the North Shore in Massachusetts and Southern New Hampshire. BankProv, which is being acquired, conducts business through retail branches on the North Shore of Massachusetts and in southern New Hampshire, with additional commercial banking offices in Central New Hampshire and a loan office in Florida. These disclosures illustrate NB Bancorp’s focus on regional markets in and around Massachusetts and New Hampshire.
Loan portfolio characteristics
Company earnings releases and SEC filings provide additional detail on the composition and evolution of NB Bancorp’s loan portfolio. The bank has reported growth in multi-family residential loans, commercial real estate loans, commercial and industrial loans, residential real estate loans and consumer loans, as well as changes in construction and land development loans over recent quarters. It has also described specific sub-portfolios:
- Cannabis facility commercial real estate loans, secured entirely by the underlying commercial real estate of the borrower operation, with a large portion of balances having loan-to-value ratios of 65% or lower and appraisal reports using both cannabis and non-cannabis comparable sales.
- Multi-family real estate loans consisting of properties primarily in the Greater Boston area, with loans described as primarily adjustable-rate and performing as of the reporting dates cited.
- Hospitality commercial real estate loans, where the company has noted growth driven by customer demand.
- Office loans concentrated in suburban Class A and B office space used as medical and traditional offices, with the company stating that this portfolio does not consist of high-rise towers located in Boston.
These disclosures indicate that NB Bancorp’s lending activities are diversified across several commercial and consumer categories, with an emphasis on real estate-related lending in its regional markets.
Deposits, funding and capital actions
NB Bancorp reports that its funding base includes core deposits (defined by the company as all non-brokered deposits) and brokered deposits, as well as borrowings such as Federal Home Loan Bank (FHLB) advances. Company releases describe quarter-to-quarter changes in deposit levels, the mix between brokered and non-brokered deposits, and the use of FHLB borrowings to support loan growth and manage liquidity.
The company has also disclosed capital management actions. It completed a mutual-to-stock conversion and related stock offering in December 2023 and has since adopted multiple stock repurchase plans. In May 2025, NB Bancorp announced a share repurchase plan for up to approximately 5% of its outstanding common stock, stating that repurchases may occur in open market or private transactions, through block trades, or under a Rule 10b5-1 trading plan, subject to market conditions and other factors. The company has also reported share repurchases executed under its repurchase programs and has declared quarterly cash dividends on its common stock.
Merger with Provident Bancorp, Inc. and BankProv
A significant development for NB Bancorp is its acquisition of Provident Bancorp, Inc. and BankProv. On June 5, 2025, NB Bancorp (Needham), Needham Bank, 1828 MS Inc., Provident and BankProv entered into an Agreement and Plan of Merger. Under this agreement, Merger Sub merged with and into Provident, followed by Provident merging with and into NB Bancorp, with NB Bancorp as the surviving entity, and BankProv merging with and into Needham Bank.
According to a Form 8-K filed on November 17, 2025, NB Bancorp completed this acquisition on November 15, 2025 at 12:01 a.m. Eastern Time. Each share of Provident common stock outstanding immediately prior to the effective time, other than treasury shares, was converted into the right to receive either 0.691 shares of NB Bancorp common stock or $13.00 in cash, subject to allocation and proration procedures designed to ensure that 50% of Provident shares received stock consideration and 50% received cash consideration. NB Bancorp estimated that it would issue approximately 5,944,350 shares of its common stock in the merger, funded the cash portion with cash on hand, and stated that each share of NB Bancorp common stock outstanding immediately prior to the effective time remained outstanding and was unaffected by the merger.
Public communications about the merger have stated that the combined organization is expected to operate branches across Metrowest, Greater Boston, the North Shore in Massachusetts and Southern New Hampshire, and that, based on deposit market share, the pro forma company is expected to be a large Massachusetts-based bank in the Boston metropolitan statistical area. NB Bancorp has also disclosed that, as part of the merger, Joseph B. Reilly, formerly President and Chief Executive Officer of Provident and BankProv, was appointed to the boards of NB Bancorp and Needham Bank.
Earnings reporting and asset quality
NB Bancorp issues periodic earnings releases that provide insight into its net interest income, net interest margin, noninterest income, noninterest expense, provision for credit losses and asset quality metrics. These releases have described changes in net interest income driven by loan growth and changes in interest expense, as well as movements in net interest margin. They also discuss noninterest income sources such as swap contract income, increases in the cash surrender value of bank-owned life insurance (BOLI) and other income items, and noninterest expenses including data processing expenses and merger and acquisition costs related to the Provident transaction.
The company reports its allowance for credit losses (ACL) as a percentage of total loans and provides detail on provisions for credit losses on loans and unfunded commitments. It discloses non-performing loan balances, net charge-offs or net recoveries as a percentage of average total loans on an annualized basis, and the drivers of changes in these asset quality metrics, such as payoffs of specific loan relationships, transitions of construction and development loans into permanent financing and changes in unfunded commitments.
Dividends and shareholder returns
In addition to share repurchases, NB Bancorp has communicated the initiation and continuation of a quarterly cash dividend. For example, in July 2025 and October 2025, the company announced quarterly dividends of $0.07 per share, payable to shareholders of record as of specified dates. These actions, together with repurchase programs, illustrate the company’s approach to returning capital to shareholders, as described in its public statements.
Risk disclosures and regulatory status
NB Bancorp is an emerging growth company, as indicated in its SEC filings, and its common stock is registered under Section 12(b) of the Securities Exchange Act of 1934 and trades on The Nasdaq Stock Market under the symbol NBBK. The company regularly files reports with the U.S. Securities and Exchange Commission, including Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. In multiple filings and press releases, NB Bancorp includes cautionary statements regarding forward-looking information, citing factors such as changes in economic, political or industry conditions, interest rate movements, competition in its markets, regulatory actions, cyber incidents, severe weather and other external events that could affect its operations and financial results.