secwatch.observer — SEC 8-K summary
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Issuer:     NB Bancorp, Inc. (NBBK)
CIK:        0001979330
Form:       8-K
Filed at:   2024-02-29T23:59:59+00:00
Accession:  0001558370-24-002044
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

NB Bancorp FY23 adj. net income $34.3M (up 14%); GAAP net income $9.8M on $19.1M foundation contribution
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- Net income $9.8M vs $30.1M prior year; excluding one-time conversion/IPO costs, adj. net income $34.3M.
- Total assets $4.53B (+26.2% YoY); net loans $3.86B (+29.0%) driven by CRE, C&I, and residential growth.
- Net interest income $130.1M (+23.9% YoY); net interest margin 3.41%, down 8 bps on higher funding costs.
- Book value per share $17.75; tangible book value $17.72; shareholders' equity $758.0M (+120.3% from IPO).
- Allowance for credit losses 0.83% of loans; non-performing loans $10.8M, down from $12.9M at year-end 2022.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1979330/000155837024002044/0001558370-24-002044-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1979330/000155837024002044/nbbk-20240228x8k.htm
  HTML page:      https://secwatch.observer/filing/0001558370-24-002044

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