季報
季度報告
10-Q
2026-08-07
NB Bancorp第二季淨收入增45%至2112萬美元 收購Provident帶動貸款擴張
AI 繁中摘要
NB Bancorp, Inc.（納斯達克：NBBK）公布截至2026年6月30日止第二季度及上半年的10-Q業績。✨
📊 **第二季度業績重點**
- 淨收入錄得2,112萬美元，按年大幅增長（2025年同期為1,458萬美元）；攤薄後每股盈利0.53美元，高於去年的0.39美元。
- 淨利息收入6,915萬美元，按年增長約47%，受惠於貸款組合擴張及收購貢獻。
- 上半年累計淨收入3,611萬美元，每股攤薄盈利0.90美元；總資產達74.47億美元，較去年底增加約6.3%。
🏦 **貸款及存款表現**
- 貸款淨額（扣除撥備後）63.41億美元；期內貸款增長主要來自收購及有機增長。
- 存款總額63.20億美元，其中核心存款56.00億美元，經紀存款7.20億美元。
- 信貸損失撥備上半年合共952萬美元，反映管理層對信貸風險的審慎評估；不良貸款及拖欠情況需持續關注。
🤝 **重大收購：Provident Bancorp**
- 公司於2025年11月完成收購Provident Bancorp, Inc.及BankProv，總代價約2.27億美元（現金加股份），為資產負債表帶來14億美元總資產、12.3億美元貸款及11.4億美元存款，並確認約1,850萬美元商譽。收購協同效應及整合進度將是未來盈利增長關鍵。
💰 **股東回饋及資本管理**
- 上半年回購約221萬股普通股，涉資約4,626萬美元；並派發股息約634萬美元。
- 截至2026年6月30日，股東權益總額8.42億美元；公司屬新興增長企業（EG
展開英文正文
NB Bancorp, Inc._June 30, 2026
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Table of Contents
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 10-Q
☒
Quarterly Report Pursuant To Section 13 or 15(d) of the Securities Exchange Act of 1934
For the quarterly period ended June 30, 2026
OR
☐
Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
For the transition period from _______________ to _______________
Commission File No. 001-41899
NB Bancorp, Inc.
(Exact name of registrant as specified in its charter)
Maryland
93-2560883
(State or other jurisdiction of
incorporation or organization)
(I.R.S. Employer
Identification Number)
1063 Great Plain Avenue
Needham, Massachusetts
02492
(Address of Principal Executive Offices)
(Zip Code)
(781) 444-2100
(Registrant’s telephone number)
N/A
(Former name or former address, if changed since last report)
Securities registered pursuant to Section 12(b) of the Act:
Common stock, par value $0.01 per share
NBBK
The NASDAQ Stock Market, LLC
(Title of each class to be registered)
(Ticker Symbol)
(Name of each exchange on which
each class is to be registered)
Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such requirements for the past 90 days.
YES ☒ NO ☐
Indicate by check mark whether the Registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T during the preceding 12 months (or for such shorter period that the Registrant was required to submit such files).
YES ☒ NO ☐
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act:
Large accelerated filer ☐
Accelerated filer ☒
Non-accelerated filer ☐
Smaller reporting company ☐
Emerging growth company ☒
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Indicate by check mark whether the Registrant is a shell company (as defined in Rule 12b-2 of the Act). YES ☐ NO ☒
As of July 31, 2026, 43,818,490 shares of the Registrant’s common stock, par value $0.01 per share, were issued and outstanding.
Table of Contents
NB Bancorp, Inc.
Form 10-Q
Index
Page
Part I. Financial Information
Item 1.
Financial Statements
Consolidated Balance Sheets as of June 30, 2026 (unaudited) and December 31, 2025
1
Consolidated Statements of Income for the Three and Six Months Ended June 30, 2026 and 2025 (unaudited)
2
Consolidated Statements of Comprehensive Income for the Three and Six Months Ended June 30, 2026 and 2025 (unaudited)
3
Consolidated Statements of Changes in Shareholders’ Equity for the Three and Six Months Ended June 30, 2026 and 2025 (unaudited)
4
Consolidated Statements of Cash Flows for the Six Months Ended June 30, 2026 and 2025 (unaudited)
5
Notes to Consolidated Financial Statements (unaudited)
7
Item 2.
Management’s Discussion and Analysis of Financial Condition and Results of Operations
39
Item 3.
Quantitative and Qualitative Disclosures about Market Risk
55
Item 4.
Controls and Procedures
55
Part II. Other Information
Item 1.
Legal Proceedings
55
Item 1A.
Risk Factors
55
Item 2.
Unregistered Sales of Equity Securities and Use of Proceeds
55
Item 3.
Defaults upon Senior Securities
55
Item 4.
Mine Safety Disclosures
55
Item 5.
Other Information
56
Item 6.
Exhibits
56
Signature Page
57
Table of Contents
Part I. – Financial Information
Item 1. Financial Statements
NB Bancorp, Inc.
Consolidated Balance Sheets
June 30, 2026 (Unaudited) and December 31, 2025
(in thousands except share and per share data)
June 30, 2026
December 31, 2025
Assets
Cash and due from banks
$
372,522
$
325,969
Federal funds sold
27,632
81,885
Total cash and cash equivalents
400,154
407,854
Available-for-sale securities, at fair value
272,640
268,959
Loans held for sale, at fair value
59,927
66,447
Loans receivable, net of deferred fees
6,422,894
5,986,140
Allowance for credit losses
(82,088)
(87,411)
Net loans
6,340,806
5,898,729
Accrued interest receivable
28,898
25,390
Banking premises and equipment, net
49,298
46,209
Non-public investments
42,029
33,740
Bank-owned life insurance ("BOLI")
97,370
104,335
Prepaid expenses and other assets
69,228
68,079
Goodwill
18,512
18,512
Core deposit intangible, net
17,519
19,303
Deferred income tax asset, net
50,499
48,831
Total assets
$
7,446,880
$
7,006,388
Liabilities and shareholders' equity
Deposits
Core deposits
$
5,600,238
$
5,318,111
Brokered deposits
719,852
535,681
Total deposits
6,320,090
5,853,792
Mortgagors' escrow accounts
4,420
5,193
Federal Home Loan Bank ("FHLB") borrowings
181,247
196,235
Accrued expenses and other liabilities
77,549
70,716
Accrued retirement liabilities
21,572
21,520
Total liabilities
6,604,878
6,147,456
Shareholders' equity:
Preferred stock, $0.01 par value, 5,000,000 shares authorized; no shares issued and outstanding
—
—
Common stock, $0.01 par value, 120,000,000 shares authorized; 43,818,490 and 45,770,128
shares issued and outstanding at June 30, 2026 and December 31, 2025, respectively
438
458
Additional paid-in capital
415,841
458,864
Unallocated common shares held by the Employee Stock Ownership Plan ("ESOP")
(41,285)
(42,454)
Retained earnings
474,970
445,200
Accumulated other comprehensive loss
(7,962)
(3,136)
Total shareholders' equity
842,002
858,932
Total liabilities and shareholders' equity
$
7,446,880
$
7,006,388
The accompanying notes are an integral part of these unaudited consolidated financial statements.
1
Table of Contents
NB Bancorp, Inc.
Consolidated Statements of Income
(Unaudited - Dollars in thousands, except per share data)
For the Three Months Ended
For the Six Months Ended
June 30,
June 30,
2026
2025
2026
2025
INTEREST AND DIVIDEND INCOME
Interest and fees on loans
$
106,574
$
74,719
$
206,614
$
146,159
Interest on securities
2,758
2,307
5,466
4,596
Interest and dividends on cash equivalents and other
2,460
2,822
5,397
5,942
Total interest and dividend income
111,792
79,848
217,477
156,697
INTEREST EXPENSE
Interest on deposits
40,686
31,690
80,265
63,929
Interest on borrowings
1,961
1,151
3,200
2,236
Total interest expense
42,647
32,841
83,465
66,165
NET INTEREST INCOME
69,145
47,007
134,012
90,532
PROVISION FOR CREDIT LOSSES
Provision for credit losses - loans
2,994
4,244
9,376
5,191
Provision for (release of) credit losses - unfunded commitments
199
(1,083)
145
(872)
Total provision for credit losses
3,193
3,161
9,521
4,319
NET INTEREST INCOME AFTER PROVISION FOR CREDIT LOSSES
65,952
43,846
124,491
86,213
NONINTEREST INCOME
Customer service fees
3,681
2,554
6,812
5,112
Increase in cash surrender value of BOLI
962
787
1,815
1,818
Mortgage banking income
92
120
211
269
Swap contract income
72
524
273
612
Gain on sale of loans, net
227
21
226
48
Other income
525
272
735
301
Total noninterest income
5,559
4,278
10,072
8,160
NONINTEREST EXPENSE
Salaries and employee benefits
25,549
18,567
51,017
37,717
Director and professional service fees
3,816
2,943
7,865
5,090
Occupancy and equipment expenses
2,468
1,465
4,958
3,045
Data processing expenses
4,899
2,493
9,338
5,258
Marketing and charitable contribution expenses
1,530
954
2,563
1,800
FDIC and state insurance assessments
1,584
883
2,736
1,696
General and administrative expenses
4,171
2,100
8,240
3,479
Total noninterest expense
44,017
29,405
86,717
58,085
INCOME BEFORE TAXES
27,494
18,719
47,846
36,288
INCOME TAX EXPENSE
6,371
4,140
11,739
9,054
NET INCOME
$
21,123
$
14,579
$
36,107
$
27,234
Weighted average common shares outstanding, basic
39,693,140
37,191,460
39,881,259
37,668,741
Weighted average common shares outstanding, diluted
40,000,305
37,550,409
40,260,469
37,848,215
Earnings per share, basic
$
0.53
$
0.39
$
0.91
$
0.72
Earnings per share, diluted
$
0.53
$
0.39
$
0.90
$
0.72
The accompanying notes are an integral part of these unaudited consolidated financial statements.
2
Table of Contents
NB Bancorp, Inc.
Consolidated Statements of Comprehensive Income
(Unaudited - Dollars in thousands)
For the Three Months Ended
For the Six Months Ended
June 30,
June 30,
2026
2025
2026
2025
NET INCOME
$
21,123
$
14,579
$
36,107
$
27,234
OTHER COMPREHENSIVE (LOSS) INCOME, NET OF TAX:
Net change in fair value of available-for-sale securities
(366)
323
(1,367)
2,025
Net change in fair value of cash flow hedge
(1,963)
—
(3,459)
—
TOTAL OTHER COMPREHENSIVE (LOSS) INCOME, NET OF TAX:
(2,329)
323
(4,826)
2,025
TOTAL COMPREHENSIVE INCOME, NET OF TAX
$
18,794
$
14,902
$
31,281
$
29,259
The accompanying notes are an integral part of these unaudited consolidated financial statements.
3
Table of Contents
NB Bancorp, Inc.
Consolidated Statements of Changes in Shareholders' Equity
(Unaudited - Dollars in thousands)
For the Three Months Ended
Shares of
Unallocated
Accumulated
Common
Additional
Common
Other
Stock
Paid-In
Stock Held by
Retained
Comprehensive
Outstanding
Common Stock
Capital
ESOP
Earnings
Income (Loss)
Total
Balance, March 31, 2025
40,570,443
$
406
$
376,773
$
(44,231)
$
413,128
$
(6,465)
$
739,611
Net income
—
—
—
—
14,579
—
14,579
Other comprehensive income, net of tax
—
—
—
—
—
323
323
Repurchase of common shares under share repurchase plan
(1,106,588)
(11)
(18,886)
—
—
—
(18,897)
Restricted stock awards issued
1,284,525
12
(12)
—
—
—
—
Stock-based compensation
—
—
787
—
—
—
787
ESOP shares committed to be released (42,589 shares)
—
—
131
588
—
—
719
Balance, June 30, 2025
40,748,380
$
407
$
358,793
$
(43,643)
$
427,707
$
(6,142)
$
737,122
Balance, March 31, 2026
44,765,178
$
448
$
432,858
$
(41,873)
$
456,978
$
(5,633)
$
842,778
Net income
—
—
—
—