NB Bancorp Q3 net income $8.4M ($0.21/sh), down from $9.5M prior quarter; operating EPS $0.33

NB Bancorp, Inc.

2024-Q3 EPS reported $0.67

Net income $8.4M ($0.21 diluted) vs $9.5M ($0.24) prior quarter; operating net income $13.1M ($0.33) excluding $4.8M one-time charges.
Gross loans rose $151.8M (3.7%) to $4.25B; net interest margin expanded 5bps to 3.51%.
Sold $1.9M loss on AFS securities (0.97% yield) reinvested at 4.27%; surrendered $46.7M BOLI (3.08%) for $50M new BOLI at 4.81%.
Net charge-offs $5.2M (0.50% annualized) vs $0.9M prior; $4.0M charge-off on office participation loan; NPLs down to $16.0M from $20.7M.
Deposits grew $124.9M (3.2%) to $4.04B; brokered deposits up 10%; core deposits up 2.6%.

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