NB Bancorp, Inc. (NBBK): M&A transaction — NB Bancorp completes acquisition of Provident Bancorp; issues ~5.94M shares

NB Bancorp, Inc.

Merger closed Nov 15, 2025; each Provident share converts to 0.691 NBBK shares or $13 cash, prorated 50/50.
Needham will issue approx 5,944,350 shares; pro forma outstanding shares ~45,770,800.
Joseph B. Reilly appointed as director; receives $800K severance, $250K non-compete, and $27.5K/mo consulting for 18 months.
Cash consideration funded from Needham's cash on hand.

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

NB Bancorp, Inc. completed an acquisition involving Provident Bancorp, Inc. for 0.691 shares of Needham common stock per share or $13.00 per share in cash (closed 2025-11-15).

Action: acquisition
Counterparty: Provident Bancorp, Inc.
Consideration: 0.691 shares of Needham common stock per share or $13.00 per share in cash
Closing: 2025-11-15

Exact text from the filing

f Provident Bancorp, Inc. (“Provident”) and BankProv, a wholly owned subsidiary of Provident.

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NB Bancorp, Inc. filing history →

Source: SEC EDGAR

accession 0001104659-25-112965

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