NBBK · NB Bancorp, Inc. Common Stock

NB Bancorp reported solid Q1 2026 results with GAAP net income of $15.0 million ($0.36 diluted EPS), a significant improvement from $7.7 million ($0.19 EPS) in the prior quarter, driven by 10.4% higher net interest income of $64.9 million and net interest margin expansion to 3.94%. Operating net income of $15.8 million ($0.38 EPS) excluded $534k pre-tax merger costs from the Provident acquisition completed November 2025, $500k business expansion fees, and minor BOLI penalties. Noninterest expense declined 13.4% to $42.7 million, reflecting lower merger costs, though offset by higher salaries from Provident integration and headcount growth, plus technology investments for revenue initiatives. Balance sheet growth included gross loans up 3.7% to $6.21 billion (led by commercial & industrial +13.4%) and deposits +4.2% to $6.10 billion, with core deposits +3.9%. Provision for credit losses swung to $6.3 million from a $1.1 million release, tied to loan growth and commercial real estate reserves. CEO Campanelli highlighted seamless Provident integration, strong core growth (loans +15.0% annualized, core deposits +15.7%), and tech upgrades for cash management expansion, expecting benefits in H2 2026. The Board declared a $0.07/share dividend and adopted the EAIP effective January 1, 2026, linking senior executive cash incentives to performance goals with Committee discretion up to 125% of target, including clawbacks and termination provisions. Share repurchases of 1.29 million shares at $21.55 average reduced equity to $842.8 million.