NB Bancorp Q2 net income $9.5M ($0.24 EPS); COO to retire

NB Bancorp, Inc.

2024-Q2 EPS reported $0.46

Net income $9.5M ($0.24 diluted EPS) vs $8.7M ($0.22) prior quarter.
Gross loans +$142.7M (3.6%) to $4.10B; deposits +$145.9M (3.9%) to $3.92B.
NIM (FTE) down 15 bps to 3.45%; provision for ACL $3.7M.
COO Salvatore Rinaldi to retire once successor identified; remains in advisory role.
Non-performing loans $20.7M (0.51% of loans), up $9.9M mainly due to one office loan.

item 2.02 item 5.02 item 9.01

Executive movements

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Departed

Salvatore Rinaldi

Chief Operating Officer

NBBK · NB Bancorp, Inc.

Filed: July 24, 2024, 7:59 PM ET

Salvatore Rinaldi, the Company’s Chief Operating Officer, notified the Company’s Chief Executive Officer and the Board of Directors on July 24, 2024 that he would be retiring from his role as Chief Operating Officer of the Company and of Needham Bank once his successor is identified and appointed as Chief Operating Officer and begins employment with Needham Bank.

Key facts

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Executive change SEC 8-K Item 5.02 confidence 0.95

Salvatore Rinaldi departed as Chief Operating Officer at NB Bancorp, Inc..

Action: retiring
Role: Chief Operating Officer

Exact text from the filing

Salvatore Rinaldi, the Company’s Chief Operating Officer, notified the Company’s Chief Executive Officer and the Board of Directors on July 24, 2024 that he would be retiring from his role as Chief Operating Officer of the Company and of Needham Bank once his successor is identified and appointed as Chief Operating Officer and begins employment with Needham Bank.

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NB Bancorp, Inc. filing history →

Source: SEC EDGAR

accession 0001558370-24-010059

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