NB Bancorp, Inc.

For the period ended Sep 30, 2025. Filed Nov 7, 2025.

About this filing

A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Sep 30, 2025 · Filed Nov 7, 2025

NBBK$22.34+1.1%Stored close · as of Nov 9, 2026

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Contents

Index

		Page
Part I. Financial Information

Item 1.	Financial Statements

	Consolidated Balance Sheets as of September 30, 2025 (unaudited) and December 31, 2024	1

	Consolidated Statements of Income for the Three and Nine Months Ended September 30, 2025 and 2024 (unaudited)	2

	Consolidated Statements of Comprehensive Income for the Three and Nine Months Ended September 30, 2025 and 2024 (unaudited)	3

	Consolidated Statements of Changes in Shareholders’ Equity for the Three and Nine Months Ended September 30, 2025 and 2024 (unaudited)	4

	Consolidated Statements of Cash Flows for the Nine Months Ended September 30, 2025 and 2024 (unaudited)	5

	Notes to Consolidated Financial Statements (unaudited)	6

Item 2.	Management’s Discussion and Analysis of Financial Condition and Results of Operations	32

Item 3.	Quantitative and Qualitative Disclosures about Market Risk	47

Item 4.	Controls and Procedures	48

Part II. Other Information

Item 1.	Legal Proceedings	48

Item 1A.	Risk Factors	48

Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds	48

Item 3.	Defaults upon Senior Securities	48

Item 4.	Mine Safety Disclosures	48

Item 5.	Other Information	48

Item 6.	Exhibits	49

	Signature Page	50


Part I. – Financial Information

Item 1. Financial Statements

NB Bancorp, Inc.
Consolidated Balance Sheets
September 30, 2025 (Unaudited) and December 31, 2024
(in thousands except share and per share data)

	September 30, 2025		December 31, 2024
Assets
Cash and due from banks		$197,548		$211,166
Federal funds sold		97,829		152,689
Total cash and cash equivalents		295,377		363,855

Available-for-sale securities, at fair value		231,023		228,205

Loans receivable, net of deferred fees		4,716,129		4,333,152
Allowance for credit losses		(43,052)		(38,744)
Net loans		4,673,077		4,294,408

Accrued interest receivable		21,074		19,685
Banking premises and equipment, net		33,842		34,654
Non-public investments		44,531		24,364
Bank-owned life insurance ("BOLI")		56,342		102,785
Prepaid expenses and other assets		58,481		59,482
Deferred income tax asset		28,643		30,299
Total assets		$5,442,390		$5,157,737

Liabilities and shareholders' equity
Deposits
Core deposits		$4,176,991		$3,867,846
Brokered deposits		388,673		309,806
Total deposits		4,565,664		4,177,652
Mortgagors' escrow accounts		4,543		4,549
FHLB borrowings		41,453		120,835
Accrued expenses and other liabilities		73,139		65,708
Accrued retirement liabilities		20,557		23,826
Total liabilities		4,705,356		4,392,570

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; 39,826,446 and 42,705,729
shares issued and outstanding at September 30, 2025 and December 31, 2024, respectively		398		427
Additional paid-in capital		342,526		417,247
Unallocated common shares held by the Employee Stock Ownership Plan ("ESOP")		(43,049)		(44,813)
Retained earnings		440,281		400,473
Accumulated other comprehensive loss		(3,122)		(8,167)
Total shareholders' equity		737,034		765,167
Total liabilities and shareholders' equity		$5,442,390		$5,157,737

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