NB Bancorp Q1 net income $8.7M, EPS $0.22, vs prior-quarter loss of $13.6M

NB Bancorp, Inc.

2024-Q1 EPS reported $0.22

Diluted EPS of $0.22 vs ($0.32) in Q4 2023; net income of $8.7M vs net loss of $13.6M.
Gross loans up $65.3M to $3.95B, led by commercial real estate (+$136.7M).
Total deposits increased $384.7M to $3.77B; core deposits up 8.4%.
Net interest margin expanded 21 bps to 3.60%; provision for credit losses was $4.4M.
Nonperforming loans low at 0.28% of total loans; annualized net charge-offs 0.19%.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 1.0

NB Bancorp, Inc. reported the quarter ended March 31, 2024 results: net income $8.7 million, EPS $0.22 per diluted share.

Period: the quarter ended March 31, 2024
Net income: $8.7 million
EPS: $0.22 per diluted share
Result: reported results

Exact text from the filing

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. ☐ Item 2.02 Results of Operation and Financial Condition. On April 24, 2024, NB Bancorp, Inc., the holding company for Needham Bank, issued a press release in which it announced its earnings for the quarter ended March 31, 2024. A copy of the press release announcing the results is included as Exhibit 99.1 to this Current Report on Form 8-K and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933.

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Source: SEC EDGAR

accession 0001558370-24-005626

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