#United States #Needham Bank #Provident Bancorp #NB Bancorp #Needham, Massachusetts

NB Bancorp Reports Third Quarter 2025 Financial Results

Needham, MA — October 22, 2025 - NB Bancorp, Inc. (Nasdaq: NBBK), the holding company of Needham Bank, has announced its financial performance for the third quarter of 2025. The bank has achieved net income of $15.4 million, equating to $0.43 per diluted common share, a notable increase from the previous quarter's net income of $14.6 million or $0.39 per diluted common share. In terms of operating net income, which excludes one-time charges, the company reported $16.0 million, or $0.45 per diluted common share, compared to $15.0 million or $0.40 in the prior quarter.

The noteworthy increase in net income can be partially attributed to the strategic growth initiatives being implemented by the bank. As stated by Joseph Campanelli, Chairman and CEO, "We continued to deliver strong earnings while executing our growth strategy. Our anticipated acquisition of Provident Bancorp, Inc. will help us further enhance customer relationships and expand our market shares."

Growth in Loans and Deposits
During Q3 2025, NB Bancorp saw impressive growth in both loans and deposits, with a year-over-year increase in loans at an annualized rate of 15.4% and deposits rising at a rate of 27.9%. This growth reflects the bank's successful efforts to build new relationships with consumers and businesses in its target markets. Furthermore, the loan-to-deposit ratio improved from 106% to 103% from the previous quarter.

However, the net interest margin declined slightly by 4 basis points, falling to 3.78% from 3.82% in the prior quarter. This decrease emerged due to the lower interest income from loan workouts and increased interest expenses. The bank took proactive measures, including executing cash flow hedges to safeguard its financial standing amid a changing interest rate environment.

Acquisition Excitement
Expectations are high as NB Bancorp prepares for the closing of its acquisition of Provident, set to occur in late November 2025 upon the conclusion of all necessary regulatory approvals. Campanelli expressed optimism regarding this integration, stating the acquisition will provide exciting opportunities for growth while enhancing service offerings through differentiated customer service and innovative product features.

Quarterly Dividend Declaration
As part of its financial announcements, the Board of Directors declared a quarterly cash dividend of $0.07 per share. This dividend will be payable on November 19, 2025 to shareholders recorded as of November 5, 2025.

Key Financial Highlights
In a summary of key financial metrics:

• - Total assets reached $5.44 billion, marking a 4.1% increase from the previous quarter.
• - Gross loans jumped to $4.72 billion, an increase of 3.9% from Q2 2025.
• - Total deposits rose to $4.57 billion, reflecting a 7.0% increase.
• - Shareholders' equity remained strong at $737.0 million.

This impressive performance positions NB Bancorp favorably as it embarks on the next phase of growth while enhancing shareholder value through strategic acquisitions and innovative banking solutions.

About NB Bancorp, Inc.

NB Bancorp, Inc., the holding company for Needham Bank, has been a dedicated community partner since 1892. Headquartered in Needham, Massachusetts, the bank focuses on providing a full range of banking services to individual consumers, businesses, and non-profit organizations. Known for its personalized service and advanced technology solutions, Needham Bank continues to serve as a reliable choice for financial management in the community. For further details, visit Needham Bank's official website.