NB Bancorp, Inc.

For the period ended Jun 30, 2025. Filed Aug 8, 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.

Jun 30, 2025 · Filed Aug 8, 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 June 30, 2025 (unaudited) and December 31, 2024	1

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

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

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

	Consolidated Statements of Cash Flows for the Six 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	31

Item 3.	Quantitative and Qualitative Disclosures about Market Risk	46

Item 4.	Controls and Procedures	47

Part II. Other Information

Item 1.	Legal Proceedings	47

Item 1A.	Risk Factors	47

Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds	47

Item 3.	Defaults upon Senior Securities	47

Item 4.	Mine Safety Disclosures	47

Item 5.	Other Information	47

Item 6.	Exhibits	49

	Signature Page	50


Part I. – Financial Information

Item 1. Financial Statements

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

	June 30, 2025		December 31, 2024
Assets
Cash and due from banks		$157,112		$211,166
Federal funds sold		101,587		152,689
Total cash and cash equivalents		258,699		363,855

Available-for-sale securities, at fair value		235,408		228,205

Loans receivable, net of deferred fees		4,541,175		4,333,152
Allowance for credit losses		(42,601)		(38,744)
Net loans		4,498,574		4,294,408

Accrued interest receivable		20,386		19,685
Banking premises and equipment, net		34,289		34,654
Non-public investments		35,767		24,364
Bank-owned life insurance ("BOLI")		55,711		102,785
Prepaid expenses and other assets		58,075		59,482
Deferred income tax asset		29,645		30,299
Total assets		$5,226,554		$5,157,737

Liabilities and shareholders' equity

Deposits
Core deposits		$4,013,892		$3,867,846
Brokered deposits		254,160		309,806
Total deposits		4,268,052		4,177,652
Mortgagors' escrow accounts		4,117		4,549
FHLB borrowings		127,600		120,835
Accrued expenses and other liabilities		68,234		65,708
Accrued retirement liabilities		21,429		23,826
Total liabilities		4,489,432		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; 40,748,380 and 42,705,729
shares issued and outstanding at June 30, 2025 and December 31, 2024, respectively		407		427
Additional paid-in capital		358,793		417,247
Unallocated common shares held by the Employee Stock Ownership Plan ("ESOP")		(43,643)		(44,813)
Retained earnings		427,707		400,473
Accumulated other comprehensive loss		(6,142)		(8,167)
Total shareholders' equity		737,122		765,167
Total liabilities and shareholders' equity		$5,226,554		$5,157,737

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