NB Bancorp Q4 net income $15.6M ($0.40), up from $8.4M; announces first share repurchase of up to 5% of shares

NB Bancorp, Inc.

2024-FY EPS reported $1.07

Net income of $15.6M ($0.40 diluted EPS) vs $8.4M ($0.21) prior quarter; operating net income $13.3M ($0.34).
Net interest margin expanded 1bp to 3.52%; loans grew 2.0% to $4.33B; deposits grew 3.3%.
Tangible book value per share rose to $17.89 from $17.48.
Board authorized share repurchase of up to 2,135,286 shares (5% of outstanding) - first such program.
Non-performing loans decreased to $13.9M from $16.0M; net charge-offs fell to $479K from $5.2M.

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