#USA #financial results #Needham Bank #Needham #NB Bancorp

Financial Performance Overview

On July 23, 2025, NB Bancorp, Inc. (Nasdaq Capital Market: NBBK), the parent organization of Needham Bank, revealed its financial results for the second quarter of 2025. The company reported a net income of $14.6 million, translating to earnings of $0.39 per diluted share. This reflects a substantial increase from the $12.7 million, or $0.33 per diluted share, reported in the previous quarter. Moreover, the operating net income, which excludes one-time charges, stood at $15 million, corresponding to $0.40 per diluted share, compared to the operating figure of $13.7 million, or $0.35 per diluted share, in the preceding quarter.

Key Financial Highlights

During this quarter, the difference between the net income and operating net income primarily arose from merger and acquisition costs of $530,000 linked to the ongoing acquisition of Provident Bancorp, Inc., which was officially announced on June 5, 2025.

Joseph Campanelli, Chairman, President, and Chief Executive Officer of NB Bancorp, expressed his enthusiasm about the quarter, emphasizing the achievement of record earnings and the initiation of a new share repurchase program. He noted the firm’s strategic focus on growth and aims for further stability and advancement in the latter half of 2025.

Dividend Declaration

In a notable decision, the Board of Directors has declared a quarterly cash dividend of $0.07 per share, which is payable on August 20, 2025, to shareholders who record before August 6, 2025.

Operational Insights

The company observed a growth rate of 6.8% in loans during the second quarter, while core deposits remained largely stable in preparation for the recent upgrade to Q2, an advanced cash management platform designed for their commercial clientele. The net interest margin surged by 21 basis points, reaching 3.82% for this quarter, up from 3.61% in the prior quarter.

In terms of shareholder returns, more than 1.1 million shares were repurchased at an average price of $17.08, providing significant value to shareholders. The commitment to enhancing market share and seizing growth opportunities remains a priority for the company as it navigates an evolving financial landscape.

Summary of Financial Highlights for Q2 2025:

• - Net income: $14.6 million, or $0.39 per diluted share
• - Operating net income: $15.0 million, or $0.40 per diluted share
• - Total assets: $5.23 billion
• - Growth in gross loans: $76.7 million to $4.54 billion
• - Decrease in total deposits: $58.6 million, or 1.4%

NB Bancorp is recognized for its reliable service, having established a significant presence in the banking sector since its operations began in 1892, leveraging both technological advancements and local market knowledge.

Looking Ahead

As NB Bancorp gears up for the latter half of 2025, it anticipates additional growth avenues on both sides of its balance sheet. The management’s intent to prudently manage shareholder equity and bolster shareholder value positions the company well for future challenges and opportunities. With a vision for continuous improvement, NB Bancorp strives to uphold its leadership in the financial services sector while providing top-notch services to its clients.