# EDGAR Filing Document

**Accession Number:** 0001979330
**File Stem:** 0001104659-25-101621
**Filing Date:** 2025-10
**Character Count:** 55605
**Document Hash:** 37d49f6f7718960aad4fa1b52db23c9a
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001104659-25-101621.hdr.sgml**: 20251023

**ACCESSION NUMBER**: 0001104659-25-101621

**CONFORMED SUBMISSION TYPE**: 8-K/A

**PUBLIC DOCUMENT COUNT**: 15

**CONFORMED PERIOD OF REPORT**: 20251022

**ITEM INFORMATION**: Results of Operations and Financial Condition

**ITEM INFORMATION**: Other Events

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20251023

**DATE AS OF CHANGE**: 20251022

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** NB Bancorp, Inc.
- **CENTRAL INDEX KEY:** 0001979330
- **STANDARD INDUSTRIAL CLASSIFICATION:** SAVINGS INSTITUTIONS, NOT FEDERALLY CHARTERED [6036]
- **ORGANIZATION NAME:** 02 Finance
- **EIN:** 932560883
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K/A
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-41899
- **FILM NUMBER:** 251411144

**BUSINESS ADDRESS:**
- **STREET 1:** 1063 GREAT PLAIN AVENUE
- **CITY:** NEEDHAM
- **STATE:** MA
- **ZIP:** 02492
- **BUSINESS PHONE:** 781-444-2100

**MAIL ADDRESS:**
- **STREET 1:** 1063 GREAT PLAIN AVENUE
- **CITY:** NEEDHAM
- **STATE:** MA
- **ZIP:** 02492

?xml version='1.0' encoding='ASCII'? NB BANCORP, INC._October 22, 2025

**UNITED STATESSECURITIES AND EXCHANGE COMMISSIONWASHINGTON, D.C. 20549**

**FORM 8-K/ACURRENT REPORT**

PURSUANT TO SECTION 13 OR 15(D) OF

THE SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported): October 22, 2025

**NB BANCORP, INC.**

(Exact Name of Registrant as Specified in Charter)

---

| | | |
|:---|:---|:---|
| Maryland | 001-41899 | 93-2560883 |
| (State or Other Jurisdiction) | (Commission File No.) | (I.R.S. Employer |
| of Incorporation) |  | Identification No.) |

---

1063 Great Plain Avenue, Needham, Massachusetts 02492 <br> (Address of Principal Executive Offices) (Zip Code)

Registrant's telephone number, including area code: (781) 444-2100

Not Applicable

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

---

| | | |
|:---|:---|:---|
| **Title of each class** |  | **Name of each exchange on which registered** |
| Common Stock, Par Value $0.01 Per Share | NBBK | The Nasdaq Stock Market, LLC |

---

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☒

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

---

| | |
|:---|:---|
| **Item 2.02** | **Results of Operation and Financial Condition.** |

---

On October 22, 2025, NB Bancorp, Inc., the holding company for Needham Bank, issued a press release in which it announced its earnings for the quarter ended September 30, 2025.

A copy of the press release announcing the results is included as Exhibit 99.1 to this Current Report on Form 8-K and shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933.

---

| | |
|:---|:---|
| **Item 8.01** | **Other Events.** |

---

On October 22, 2025, the Board of Directors of NB Bancorp, Inc. declared a dividend of $0.07 per share. The dividend will be paid November 19, 2025 to stockholders of record as of November 5, 2025.

**A copy of the press release announcing the declaration of the dividend is attached to this Current Report on Form 8-K as Exhibit 99.1 and is hereby incorporated by reference.**

---

| | |
|:---|:---|
| **Item 9.01** | **Financial Statements and Exhibits.** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Exhibits

---

| | |
|:---|:---|
| Exhibit No. | Description |
| 99.1 | [Press Release dated October 22, 2025](nbbk-20251022xex99d1.htm) |
| 104.1 | Cover Page Interactive Data File (Embedded within Inline XBRL document) |

---

#### SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized.

---

| | | |
|:---|:---|:---|
|  |  | NB BANCORP, INC. |
| DATE: October 22, 2025 | By:  | /s/Jean-Pierre Lapointe |
|  |  | Executive Vice President and Chief Financial Officer |

---

XBRL-Only Content Section

---

| | |
|:---|:---|
| dei_EntityCentralIndexKey | 0001979330 |
| dei_AmendmentFlag | false |

---

## Exhibit 99.1

**Exhibit 99.1**

![Graphic](nbbk-20251022xex99d1001.jpg)

**NB Bancorp, Inc. Reports Third Quarter 2025 Financial Results, Declares Quarterly Cash Dividend**

**Investor Contact**

JP Lapointe, EVP and CFO

IR@NeedhamBank.com

781-474-5408

**Needham, MA, October 22, 2025** – NB Bancorp, Inc. (the "Company") (Nasdaq Capital Market: **NBBK**), the holding company of Needham Bank (the "Bank"), today announced its third quarter 2025 financial results. The Company reported net income of $15.4 million, or $0.43 per diluted common share, compared to net income of $14.6 million, or $0.39 per diluted common share, for the prior quarter. Operating net income<sup>(1)</sup>, excluding one-time charges, amounted to $16.0 million, or $0.45 per diluted common share, compared to operating net income<sup>(1)</sup> of $15.0 million, or $0.40 per diluted common share for the prior quarter. The primary difference between net income and operating net income<sup>(1)</sup> for the third quarter of 2025 was merger and acquisition costs of $994 thousand (pre-tax) related to the Company's pending acquisition of Provident Bancorp, Inc. ("Provident") and its subsidiary, BankProv, which was announced on June 5, 2025.

"During the third quarter, we continued to deliver strong, record earnings as we executed our growth strategy. We look forward to the anticipated closing and conversion of our acquisition of Provident in the fourth quarter of 2025. We were able to expand new relationships with consumers and businesses across our markets resulting in an increase in both loans and deposits during the third quarter at annualized rates of 15.4% and 27.9%, respectively. We were able to reduce our loan to deposit ratio from 106% to 103% quarter over quarter. However, net interest margin declined by 4 basis points to 3.78% for the third quarter from 3.82% in the second quarter, as a result of a decrease in default interest income earned on loan workouts from the prior quarter, along with loans re-pricing and interest expense associated with two cash flow hedges executed during the third quarter to help protect the Company in a down rate environment. We look forward to the final quarter of 2025 and, now that we have received all required regulatory approvals, welcoming Provident customers and team members to the Company. We expect the final quarter to provide the team with an exciting environment and additional growth opportunities on both sides of the balance sheet," commented Joseph Campanelli, Chairman, President and Chief Executive Officer. "We look forward to differentiating ourselves on customer service, along with new product features and functionality as we continue to grow market share and take advantage of opportunities to enhance shareholder value, including our growth in the Provident market upon the closing of the acquisition on November 14th," Campanelli continued.

**Declaration of Dividend**

The Board of Directors declared a quarterly cash dividend of $0.07 per share, payable on November 19, 2025, to shareholders of record as of November 5, 2025.

------

**SELECTED FINANCIAL HIGHLIGHTS FOR THE THIRD QUARTER OF 2025**

&nbsp;&nbsp;&nbsp;&nbsp;● Net income of $15.4 million, or $0.43 per diluted common share, compared to net income of $14.6 million, or $0.39 per diluted common share, for the prior quarter. Operating net income <sup>(1)</sup> , excluding one-time charges, amounted to $16.0 million, or $0.45 per diluted common share, compared to operating net income <sup>(1)</sup> of $15.0 million, or $0.40 per diluted common share, for the prior quarter.

One-time pre-tax amounts during the current quarter include:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;o Merger and acquisition costs of $994 thousand related to the Company's pending acquisition of Provident; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;o State voluntary disclosure agreement tax expenses of $561 thousand for new state income tax expenses; partially offset by

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;o Defined benefit pension termination refund of $739 thousand.

One-time pre-tax charges during the prior quarter include:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;o Merger and acquisition costs of $530 thousand related to the Company's pending acquisition of Provident;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;o BOLI surrender tax and modified endowment contract penalty of $64 thousand.

&nbsp;&nbsp;&nbsp;&nbsp;● Net interest margin declined by 4 basis points to 3.78% during the current quarter from 3.82% in the prior quarter.

&nbsp;&nbsp;&nbsp;&nbsp;● Gross loans increased $175.0 million, or 3.9%, to $4.72 billion, from $4.54 billion the prior quarter.

&nbsp;&nbsp;&nbsp;&nbsp;● Total deposits increased $297.6 million, or 7.0%, from the prior quarter. Core deposits, which the Company considers to be all non-brokered deposits, increased $163.1 million, or 4.1%, during the current quarter. Brokered deposits increased $134.5 million, or 52.9%, from the prior quarter.

&nbsp;&nbsp;&nbsp;&nbsp;● Book value per share and tangible book value per share <sup>(1)</sup> were $18.51 and $18.48, respectively, which increased from $18.09 and $18.06, respectively in the prior quarter. The increase in tangible book value per share <sup>(1)</sup> was a result of $15.4 million in net income for the quarter, along with a $3.1 million impact from a positive change in accumulated other comprehensive income, partially offset by the repurchase of 921,934 shares during the current quarter at an all-in weighted average cost of $19.02 per share and $2.8 million in dividends paid during the quarter.

**BALANCE SHEET**

Total assets amounted to $5.44 billion as of September 30, 2025, representing an increase of $215.8 million, or 4.1%, from June 30, 2025.

&nbsp;&nbsp;&nbsp;&nbsp;● Cash and cash equivalents increased $36.7 million, or 14.2%, to $295.4 million from $258.7 million in the prior quarter, as a result of the increase in deposits of $297.6 million, partially offset by the increase in loans of $175.0 million and a decrease in FHLB borrowings of $86.1 million.

&nbsp;&nbsp;&nbsp;&nbsp;● Net loans increased $174.5 million, or 3.9%, to $4.67 billion, from the prior quarter as demand for new loan originations and advances continued. The current quarter growth was primarily seen in multi-family residential loans, which increased $113.7 million, or 35.9%, commercial real estate loans, which increased $76.3 million, or 5.6%, commercial and industrial loans, which increased $26.5 million, or 4.2%, residential real estate loans, which increased $18.7 million, or 1.5%, and consumer loans, which increased $9.6 million, or 3.8%; partially offset by a decrease in construction and land development loans of $69.3 million, or 9.6%.

&nbsp;&nbsp;&nbsp;&nbsp;● Deposits increased $297.6 million, or 7.0%, to $4.57 billion from $4.27 billion in the prior quarter. The increase in deposits was the result of increases in brokered deposits of $134.5 million, or 52.9%, money market accounts of $120.5 million, or 11.0% and certificates of deposit of $92.1 million, or 5.5%, partially offset by a decrease in non-interest bearing demand deposits of $38.4 million, or 5.9%.

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;● FHLB borrowings decreased $86.1 million, or 67.5%, to $41.5 million from $127.6 million during the current quarter as a result of overall deposit growth.

&nbsp;&nbsp;&nbsp;&nbsp;● Shareholders' equity decreased $88 thousand, or 0.0%, to $737.0 million from the prior quarter, primarily as a result of $17.5 million related to the repurchase of 921,934 shares of common stock at an all-in weighted average cost of $19.02 per share and $2.8 million in dividends paid, partially offset by $15.4 million in net income and a $3.1 million positive change in accumulated other comprehensive income. Shareholders' equity to total assets and tangible shareholders' equity <sup>(1)</sup> to tangible assets were both 13.5% at the end of the current quarter, and 14.1% at the end of the prior quarter.

**NET INTEREST INCOME**

Net interest income was $48.2 million for the current quarter, compared to $47.0 million for the prior quarter, an increase of $1.2 million, or 2.5%. Net interest margin compressed 4 basis points to 3.78% for the quarter from 3.82% in the prior quarter.

&nbsp;&nbsp;&nbsp;&nbsp;● The increase in interest income during the current quarter was primarily attributable to an increase in the average balance of loans.

&nbsp;&nbsp;&nbsp;&nbsp;● The increase in interest expense for the current quarter was primarily driven by increases in the average balance of FHLB advances, partially offset by declines in the weighted-average rate on certificates of deposit and individual retirement accounts.

**PROVISION FOR CREDIT LOSSES**

Provision for credit losses decreased $1.8 million, or 55.8%, to $1.4 million for the current quarter, compared to $3.2 million for the prior quarter.

&nbsp;&nbsp;&nbsp;&nbsp;● The provision for credit losses on loans was $1.0 million for the current quarter, compared to $4.2 million for the prior quarter, representing a decrease of $3.2 million, or 75.5%, primarily driven by construction and development loans transitioning to permanent financing in multi-family residential loans which carry lower loss rates; partially offset by loan growth.

&nbsp;&nbsp;&nbsp;&nbsp;● The provision for credit losses on unfunded commitments was a provision of $355 thousand for the current quarter, compared to a release of $1.1 million for the prior quarter, representing an increase of $1.4 million, or 132.8%, primarily driven by an increase in the balance of unfunded commitments during the current quarter.

**NONINTEREST INCOME**

Noninterest income was $3.6 million for the current quarter, compared to $4.2 million for the prior quarter, representing a decrease of $627 thousand, or 15.0%.

&nbsp;&nbsp;&nbsp;&nbsp;● Swap contract income was $208 thousand for the current quarter, compared to $524 thousand in the prior quarter, representing a decrease of $316 thousand, or 60.3%, due to decreased swap contract demand.

&nbsp;&nbsp;&nbsp;&nbsp;● The increase in the cash surrender value of BOLI was $631 thousand for the current quarter, compared to $787 thousand for the prior quarter, representing a smaller increase in the cash surrender value of BOLI of $156 thousand, or 19.8%, driven by the receipt of proceeds from surrendered BOLI policies during the prior quarter.

&nbsp;&nbsp;&nbsp;&nbsp;● Other income was $21 thousand, compared to $172 thousand in the prior quarter, resulting in a decrease of $151 thousand, or 87.8%, from the annual MasterCard branding bonus earned during the prior quarter.

**NONINTEREST EXPENSE**

Noninterest expense for the current quarter was $30.4 million, representing an increase of $1.1 million, or 3.6%, from the prior quarter.

&nbsp;&nbsp;&nbsp;&nbsp;● Merger and acquisition expenses were $994 thousand for the current quarter, compared to $530 thousand for the prior quarter, representing a $464 thousand, or 87.5%, increase due to continued expenses related to the Provident acquisition.

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;● Data processing expenses increased $418 thousand, or 16.8%, to $2.9 million in the current quarter, compared to $2.5 million in the prior quarter, primarily as a result of a $218 thousand increase in electronic banking expense and an increase of $180 thousand in management information systems expense as the Company continues to invest in technology, including cash management software.

**INCOME TAXES**

Income tax expense for the current quarter was $4.6 million, representing a $460 thousand, or 11.1%, increase from the prior quarter. The increase was primarily driven by $562 thousand in state voluntary disclosure agreements tax expense incurred during the current quarter. The effective tax rate and the operating effective tax rate<sup>(1)</sup> was 23.0% and 20.2%, respectively, for the current quarter, compared to 22.1% and 21.8%, respectively, for the prior quarter. The primary drivers of the increase in the effective tax rate were the state voluntary disclosure agreements tax expense incurred during the current quarter, along with non-deductible merger and acquisition expenses.

**COMMERCIAL REAL ESTATE PORTFOLIO**

Commercial real estate loans increased $190.0 million, or 11.2%, to $1.88 billion, during the current quarter.

&nbsp;&nbsp;&nbsp;&nbsp;● Cannabis facility commercial real estate loans decreased $7.0 million, or 2.6%, during the quarter ended September 30, 2025. The Company's cannabis facility commercial real estate portfolio is secured entirely by the underlying commercial real estate of the borrower operation. The vast majority of the cannabis facility loan portfolio balances have a loan-to-value ratio of 65% or lower, with appraisal reports taking a blended approach (using both cannabis and non-cannabis use comparable real estate sales, which we believe are generally more conservative).

&nbsp;&nbsp;&nbsp;&nbsp;● The cannabis facility portfolio has geographic dispersion, with lower dollar exposure loans remaining local and larger dollar exposure loans generally tied to multi-state operators with a more national footprint. All cannabis facility loan relationships were current at the end of the current quarter.

&nbsp;&nbsp;&nbsp;&nbsp;● The Company's multi-family real estate loan portfolio increased $113.7 million, or 35.9%, during the current quarter to $430.4 million, as a result of construction and land development loans transitioning to permanent financing and continued originations. The Company's multi-family real estate loan portfolio consists of properties primarily located in the Greater Boston area, primarily all of which are adjustable-rate loans and all of which were performing at September 30, 2025.

&nbsp;&nbsp;&nbsp;&nbsp;● Hospitality commercial real estate loans increased $75.4 million, or 43.8%, during the current quarter, resulting from continued originations from increased customer demand.

&nbsp;&nbsp;&nbsp;&nbsp;● The Company's $216.9 million office portfolio consists principally of suburban Class A and B office space used as medical and traditional offices. The portfolio does not consist of high-rise towers located in Boston.

**ASSET QUALITY**

&nbsp;&nbsp;&nbsp;&nbsp;● The allowance for credit losses ("ACL") amounted to $43.1 million as of September 30, 2025, or 0.91% of total loans, compared to $42.6 million, or 0.94% of total loans at June 30, 2025. The Company recorded provisions for credit losses of $1.4 million during the current quarter, which included a provision of $1.0 million for loans and a provision of $355 thousand for unfunded commitments, compared to provisions for credit losses of $3.2 million during the prior quarter, which included a provision of $4.2 million for loans and a release of credit losses of $1.1 million for unfunded commitments.

&nbsp;&nbsp;&nbsp;&nbsp;● The increase in the ACL for the current quarter was the result of loan growth offset by movement of construction and development loans into permanent financing as multi-family residential loans which carry lower reserves.

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;● Non-performing loans totaled $11.4 million as of September 30, 2025, a decrease of $1.1 million, or 9.0%, from $12.5 million at the end of the prior quarter. The decrease was primarily due to the decrease in commercial real estate loans on non-accrual of $1.2 million and home equity loans on non-accrual of $367 thousand as a result of one loan relationship payoff, partially offset by increases in consumer loans on non-accrual of $552 thousand during the current quarter.

&nbsp;&nbsp;&nbsp;&nbsp;● During the current quarter, the Company recorded total net charge-offs of $590 thousand, or 0.05% of average total loans on an annualized basis, compared to a $19 thousand net recovery, or 0.00% of average total loans on an annualized basis, in the prior quarter. The increase in net charge-offs during the current quarter was primarily a result of a $923 thousand recovery on a previously charged-off commercial real estate participation loan during the prior quarter.

&nbsp;&nbsp;&nbsp;&nbsp;● The Company's loan portfolio consists primarily of commercial real estate and multi-family loans, one-to-four-family residential real estate loans, construction and land development loans, commercial and industrial loans and consumer loans. These loans are primarily made to individuals and businesses located in our primary lending market area, which is the Greater Boston metropolitan area and surrounding communities in Massachusetts, eastern Connecticut, southern New Hampshire and Rhode Island.

&nbsp;&nbsp;&nbsp;&nbsp;(1) <sup>Represents a non-GAAP measure. See Non-GAAP reconciliation of the corresponding GAAP measures on page 12.</sup> 

**ABOUT NB BANCORP, INC.**

NB Bancorp, Inc. (Nasdaq Capital Market: NBBK) is the registered bank holding company of Needham Bank. Needham Bank is headquartered in Needham, Massachusetts, which is approximately 17 miles southwest of Boston's financial district. Known as the "Builder's Bank," Needham Bank has been helping individuals, businesses and non-profits build for their futures since 1892. Needham Bank offers an array of tech-forward products and services that businesses and consumers use to manage their financial needs. We have the financial expertise typically found at much larger institutions and the local knowledge and commitment you can only find at a community bank. For more information, please visit https://NeedhamBank.com. Needham Bank is a member of FDIC.

**Non-GAAP Financial Measures** 

In addition to results presented in accordance with accounting principles generally accepted in the United States of America ("GAAP"), this press release contains certain non-GAAP financial measures, including operating net income, operating noninterest expense, operating noninterest income, operating effective tax rate, operating earnings per share, basic, operating earnings per share, diluted, operating return on average assets, operating return on average shareholders' equity, operating efficiency ratio, tangible shareholders' equity, tangible assets and tangible book value per share. The Company's management believes that the supplemental non-GAAP information is utilized by regulators and market analysts to evaluate a Company's financial condition and therefore, such information is useful to investors. These disclosures should not be viewed as a substitute for financial results determined in accordance with GAAP, nor are they necessarily comparable to non-GAAP performance measures that may be presented by other companies. Because non-GAAP financial measures are not standardized, it may not be possible to compare these financial measures with other companies' non-GAAP financial measures having the same or similar names.

**Forward-Looking Statements**

Statements in this press release that are not historical facts are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and are intended to be covered by the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.

------

We may also make forward-looking statements in other documents we file with the Securities and Exchange Commission (the "SEC"), in our annual reports to our stockholders, in press releases and other written materials, and in oral statements made by our officers, directors or employees. You can identify forward-looking statements by the use of the words "believe," "expect," "anticipate," "intend," "estimate," "assume," "outlook," "will," "should," and other expressions that predict or indicate future events and trends and which do not relate to historical matters. Although the Company believes that these forward-looking statements are based on reasonable estimates and assumptions, they are not guarantees of future performance and are subject to known and unknown risks, uncertainties, and other factors. You should not place undue reliance on our forward-looking statements. You should exercise caution in interpreting and relying on forward-looking statements because they are subject to significant risks, uncertainties and other factors which are, in some cases, beyond the Company's control. The Company's actual results could differ materially from those projected in the forward-looking statements as a result of, among other factors, changes in general business and economic conditions on a national basis and in the local markets in which the Company operates, including changes which adversely affect borrowers' ability to service and repay loans; changes in customer behavior due to political, business and economic conditions, including inflation and concerns about liquidity; turbulence in the capital and debt markets; reductions in net interest income resulting from interest rate volatility as well as changes in the balances and mix of loans and deposits; changes in interest rates and real estate values; changes in loan collectability and increases in defaults and charge-off rates; decreases in the value of securities and other assets, adequacy of credit loss reserves, or deposit levels necessitating increased borrowing to fund loans and investments; failure to consummate or a delay in consummating the acquisition of Provident, including as a result of any failure to obtain the necessary regulatory approvals, or to satisfy any of the other conditions to the proposed transaction on a timely basis or at all; risks related to the Company's pending acquisition of Provident and acquisitions generally, including disruption to current plans and operations; difficulties in customer and employee retention; fees, expenses and charges related to these transactions being significantly higher than anticipated; unforeseen integration issues or impairment of other intangibles; and the Company's inability to achieve expected revenues, cost savings, synergies, and other benefits at levels or within the timeframes originally anticipated; changing government regulation; competitive pressures from other financial institutions; changes in legislation or regulation and accounting principles, policies and guidelines; cybersecurity incidents, fraud, natural disasters, and future pandemics; the risk that the Company may not be successful in the implementation of its business strategy; the risk that intangibles recorded in the Company's financial statements will become impaired; changes in assumptions used in making such forward-looking statements; and the other risks and uncertainties detailed in the Company's Form 10-K and updated by our Quarterly Report on Form 10-Q and other filings submitted to the SEC. These statements speak only as of the date of this release and the Company does not undertake any obligation to update or revise any of these forward-looking statements to reflect events or circumstances occurring after the date of this communication or to reflect the occurrence of unanticipated events.

------

---

| | | | |
|:---|:---|:---|:---|
| **NB BANCORP, INC.** |  |  |  |
| **SELECTED FINANCIAL HIGHLIGHTS** |  |  |  |
| **(Unaudited)** |  |  |  |
| **(Dollars in thousands, except per share data)** |  |  |  |
|  | **As of and for the three months ended** | **As of and for the three months ended** | **As of and for the three months ended** |
|  | **September 30, 2025** | **June 30, 2025** | **September 30, 2024** |
| **Earnings data** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Net interest income | $48175 | $47007 | $41324 |
| &nbsp;&nbsp;&nbsp;&nbsp;Noninterest income | 3551 | 4178 | 1265 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total revenue | 51726 | 51185 | 42589 |
| &nbsp;&nbsp;&nbsp;&nbsp;Provision for credit losses | 1396 | 3161 | 2623 |
| &nbsp;&nbsp;&nbsp;&nbsp;Noninterest expense | 30368 | 29305 | 24586 |
| &nbsp;&nbsp;&nbsp;&nbsp;Pre-tax income | 19962 | 18719 | 15380 |
| &nbsp;&nbsp;&nbsp;&nbsp;Net income | 15362 | 14579 | 8383 |
| &nbsp;&nbsp;&nbsp;&nbsp;Operating net income (non-GAAP) | 16002 | 15043 | 13116 |
| &nbsp;&nbsp;&nbsp;&nbsp;Operating noninterest expense (non-GAAP) | 30113 | 28775 | 25499 |
| **Per share data** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Earnings per share, basic | $0.43 | $0.39 | $0.21 |
| &nbsp;&nbsp;&nbsp;&nbsp;Earnings per share, diluted | 0.43 | 0.39 | 0.21 |
| &nbsp;&nbsp;&nbsp;&nbsp;Operating earnings per share, basic (non-GAAP) | 0.45 | 0.40 | 0.33 |
| &nbsp;&nbsp;&nbsp;&nbsp;Operating earnings per share, diluted (non-GAAP) | 0.45 | 0.40 | 0.33 |
| &nbsp;&nbsp;&nbsp;&nbsp;Book value per share | 18.51 | 18.09 | 17.50 |
| &nbsp;&nbsp;&nbsp;&nbsp;Tangible book value per share (non-GAAP) | 18.48 | 18.06 | 17.48 |
| **Profitability** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Return on average assets | 1.16% | 1.13% | 0.68% |
| &nbsp;&nbsp;&nbsp;&nbsp;Operating return on average assets (non-GAAP) | 1.20% | 1.17% | 1.07% |
| &nbsp;&nbsp;&nbsp;&nbsp;Return on average shareholders' equity | 8.35% | 7.84% | 4.42% |
| &nbsp;&nbsp;&nbsp;&nbsp;Operating return on average shareholders' equity (non-GAAP) | 8.70% | 8.09% | 6.91% |
| &nbsp;&nbsp;&nbsp;&nbsp;Net interest margin | 3.78% | 3.82% | 3.51% |
| &nbsp;&nbsp;&nbsp;&nbsp;Cost of deposits | 2.92% | 3.00% | 3.37% |
| &nbsp;&nbsp;&nbsp;&nbsp;Efficiency ratio | 58.71% | 57.25% | 57.73% |
| &nbsp;&nbsp;&nbsp;&nbsp;Operating efficiency ratio (non-GAAP) | 58.22% | 56.22% | 57.36% |
| **Balance sheet, end of period** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Total assets | $5442390 | $5226554 | $5002394 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total loans | 4716129 | 4541175 | 4249074 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total deposits | 4565664 | 4268052 | 4042654 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total shareholders' equity | 737034 | 737122 | 747449 |
| **Asset quality** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Allowance for credit losses (ACL) | $43052 | $42601 | $37605 |
| &nbsp;&nbsp;&nbsp;&nbsp;ACL / Total non-performing loans (NPLs) | 379.1% | 341.4% | 234.9% |
| &nbsp;&nbsp;&nbsp;&nbsp;Total NPLs / Total loans | 0.24% | 0.27% | 0.38% |
| &nbsp;&nbsp;&nbsp;&nbsp;Annualized net (charge-offs) recoveries / Average total loans | (0.05)% | 0.00% | (0.50)% |
| **Capital ratios** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Shareholders' equity / Total assets | 13.54% | 14.10% | 14.94% |
| &nbsp;&nbsp;&nbsp;&nbsp;Tangible shareholders' equity / tangible assets (non-GAAP) | 13.53% | 14.09% | 14.92% |

---

------

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **NB BANCORP, INC.** |  |  |  |  |  |  |  |
| **CONSOLIDATED BALANCE SHEETS** |  |  |  |  |  |  |  |
| **(Unaudited)** |  |  |  |  |  |  |  |
| **(Dollars in thousands, except share and per share data)** |  |  |  |  |  |  |  |
|  | **As of** | **As of** | **As of** | **September 30, 2025 change from** | **September 30, 2025 change from** | **September 30, 2025 change from** | **September 30, 2025 change from** |
|  | **September 30, 2025** | **June 30, 2025** | **September 30, 2024** | **June 30, 2025** | **June 30, 2025** | **September 30, 2024** | **September 30, 2024** |
| **Assets** |  |  |  |  |  |  |  |
| Cash and due from banks | $197548 | $157112 | $148187 | $40436 | 25.7% | $49361 | 33.3% |
| Federal funds sold | 97829 | 101587 | 168862 | (3758) | (3.7)% | (71033) | (42.1)% |
| &nbsp;&nbsp;&nbsp;&nbsp;Total cash and cash equivalents | 295377 | 258699 | 317049 | 36678 | 14.2% | (21672) | (6.8)% |
| Available-for-sale securities, at fair value | 231023 | 235408 | 202541 | (4385) | (1.9)% | 28482 | 14.1% |
| Loans receivable, net of deferred fees | 4716129 | 4541175 | 4249074 | 174954 | 3.9% | 467055 | 11.0% |
| Allowance for credit losses | (43052) | (42601) | (37605) | (451) | 1.1% | (5447) | 14.5% |
| &nbsp;&nbsp;&nbsp;&nbsp;Net loans | 4673077 | 4498574 | 4211469 | 174503 | 3.9% | 461608 | 11.0% |
| Accrued interest receivable | 21074 | 20386 | 18671 | 688 | 3.4% | 2403 | 12.9% |
| Banking premises and equipment, net | 33842 | 34289 | 34802 | (447) | (1.3)% | (960) | (2.8)% |
| Non-public investments | 44531 | 35767 | 24271 | 8764 | 24.5% | 20260 | 83.5% |
| Bank-owned life insurance ("BOLI") | 56342 | 55711 | 101736 | 631 | 1.1% | (45394) | (44.6)% |
| Prepaid expenses and other assets | 58481 | 58075 | 74387 | 406 | 0.7% | (15906) | (21.4)% |
| Deferred income tax asset | 28643 | 29645 | 17468 | (1002) | (3.4)% | 11175 | 64.0% |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total assets** | $5442390 | $5226554 | $5002394 | $215836 | 4.1% | $439996 | 8.8% |
| **Liabilities and shareholders' equity** |  |  |  |  |  |  |  |
| Deposits |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Core deposits | $4176991 | $4013892 | $3712904 | $163099 | 4.1% | $464087 | 12.5% |
| &nbsp;&nbsp;&nbsp;Brokered deposits | 388673 | 254160 | 329750 | 134513 | 52.9% | 58923 | 17.9% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total deposits | 4565664 | 4268052 | 4042654 | 297612 | 7.0% | 523010 | 12.9% |
| Mortgagors' escrow accounts | 4543 | 4117 | 4401 | 426 | 10.3% | 142 | 3.2% |
| FHLB borrowings | 41453 | 127600 | 116335 | (86147) | (67.5)% | (74882) | (64.4)% |
| Accrued expenses and other liabilities | 73139 | 68234 | 69524 | 4905 | 7.2% | 3615 | 5.2% |
| Accrued retirement liabilities | 20557 | 21429 | 22031 | (872) | (4.1)% | (1474) | (6.7)% |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total liabilities** | 4705356 | 4489432 | 4254945 | 215924 | 4.8% | 450411 | 10.6% |
| **Shareholders' equity:** |  |  |  |  |  |  |  |
| Preferred stock, $0.01 par value, 5,000,000 shares authorized; no shares |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;issued and outstanding | - | - | - | - | 0.0% | - | 0.0% |
| Common stock, $0.01 par value, 120,000,000 shares authorized; 39,826,446 issued and |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;outstanding at September 30, 2025, 40,748,380 issued and outstanding at June 30, 2025 |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;and 42,705,729 issued and outstanding at September 30, 2024 | 398 | 407 | 427 | (9) | (2.2)% | (29) | (6.8)% |
| Additional paid-in capital | 342526 | 358793 | 417013 | (16267) | (4.5)% | (74487) | (17.9)% |
| Unallocated common shares held by the Employee Stock Ownership Plan ("ESOP") | (43049) | (43643) | (45407) | 594 | (1.4)% | 2358 | (5.2)% |
| Retained earnings | 440281 | 427707 | 382561 | 12574 | 2.9% | 57720 | 15.1% |
| Accumulated other comprehensive loss | (3122) | (6142) | (7145) | 3020 | (49.2)% | 4023 | (56.3)% |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total shareholders' equity** | 737034 | 737122 | 747449 | (88) | 0.0% | (10415) | (1.4)% |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total liabilities and shareholders' equity** | $5442390 | $5226554 | $5002394 | $215836 | 4.1% | $439996 | 8.8% |

---

------

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **NB BANCORP, INC.** |  |  |  |  |  |  |  |
| **CONSOLIDATED STATEMENTS OF INCOME** |  |  |  |  |  |  |  |
| **(Unaudited)** |  |  |  |  |  |  |  |
| **(Dollars in thousands, except share and per share data)** |  |  |  |  |  |  |  |
|  | **For the Three Months Ended**  | **For the Three Months Ended**  | **For the Three Months Ended**  | **Three Months Ended September 30, 2025 Change From Three Months Ended** | **Three Months Ended September 30, 2025 Change From Three Months Ended** | **Three Months Ended September 30, 2025 Change From Three Months Ended** | **Three Months Ended September 30, 2025 Change From Three Months Ended** |
|  | **September 30, 2025** | **June 30, 2025** | **September 30, 2024** | **June 30, 2025** | **June 30, 2025** | **September 30, 2024** | **September 30, 2024** |
| **INTEREST AND DIVIDEND INCOME** |  |  |  |  |  |  |  |
| Interest and fees on loans | $77365 | $74719 | $70518 | $2646 | 3.5% | $6847 | 9.7% |
| Interest on securities | 2253 | 2307 | 1768 | (54) | (2.3)% | 485 | 27.4% |
| Interest and dividends on cash equivalents and other | 2070 | 2822 | 3717 | (752) | (26.6)% | (1647) | (44.3)% |
| &nbsp;&nbsp;&nbsp;&nbsp;Total interest and dividend income | 81688 | 79848 | 76003 | 1840 | 2.3% | 5685 | 7.5% |
| **INTEREST EXPENSE** |  |  |  |  |  |  |  |
| Interest on deposits | 31273 | 31690 | 33612 | (417) | (1.3)% | (2339) | (7.0)% |
| Interest on borrowings | 2240 | 1151 | 1067 | 1089 | 94.6% | 1173 | 109.9% |
| &nbsp;&nbsp;&nbsp;&nbsp;Total interest expense | 33513 | 32841 | 34679 | 672 | 2.0% | (1166) | (3.4)% |
| **NET INTEREST INCOME** | 48175 | 47007 | 41324 | 1168 | 2.5% | 6851 | 16.6% |
| **PROVISION FOR CREDIT LOSSES** |  |  |  |  |  |  |  |
| Provision for credit losses - loans | 1041 | 4244 | 4997 | (3203) | (75.5)% | (3956) | (79.2)% |
| Provision for (release of) credit losses - unfunded commitments | 355 | (1083) | (2374) | 1438 | 132.8% | 2729 | (115.0)% |
| &nbsp;&nbsp;&nbsp;&nbsp;Total provision for credit losses | 1396 | 3161 | 2623 | (1765) | (55.8)% | (1227) | (46.8)% |
| **NET INTEREST INCOME AFTER PROVISION FOR CREDIT LOSSES** | 46779 | 43846 | 38701 | 2933 | 6.7% | 8078 | 20.9% |
| **NONINTEREST INCOME** |  |  |  |  |  |  |  |
| Customer service fees | 2498 | 2554 | 1963 | (56) | (2.2)% | 535 | 27.3% |
| Increase in cash surrender value of BOLI | 631 | 787 | 414 | (156) | (19.8)% | 217 | 52.4% |
| Mortgage banking income | 193 | 141 | 367 | 52 | 36.9% | (174) | (47.4)% |
| Swap contract income | 208 | 524 | 375 | (316) | (60.3)% | (167) | (44.5)% |
| Loss on sale of available-for-sale securities, net | - | - | (1868) | - | 100.0% | 1868 | (100.0)% |
| Other income | 21 | 172 | 14 | (151) | (87.8)% | 7 | 50.0% |
| &nbsp;&nbsp;&nbsp;&nbsp;Total noninterest income | 3551 | 4178 | 1265 | (627) | (15.0)% | 2286 | 180.7% |
| **NONINTEREST EXPENSE** |  |  |  |  |  |  |  |
| Salaries and employee benefits | 18641 | 18567 | 17202 | 74 | 0.4% | 1439 | 8.4% |
| Director and professional service fees | 2920 | 2943 | 1995 | (23) | (0.8)% | 925 | 46.4% |
| Occupancy and equipment expenses | 1559 | 1465 | 1394 | 94 | 6.4% | 165 | 11.8% |
| Data processing expenses | 2911 | 2493 | 2226 | 418 | 16.8% | 685 | 30.8% |
| Marketing and charitable contribution expenses | 949 | 954 | 842 | (5) | (0.5)% | 107 | 12.7% |
| FDIC and state insurance assessments | 928 | 883 | 812 | 45 | 5.1% | 116 | 14.3% |
| Merger and acquisition expenses | 994 | 530 | - | 464 | 87.5% | 994 | 0.0% |
| General and administrative expenses | 1466 | 1470 | 115 | (4) | (0.3)% | 1351 | 1174.8% |
| &nbsp;&nbsp;&nbsp;&nbsp;Total noninterest expense | 30368 | 29305 | 24586 | 1063 | 3.6% | 5782 | 23.5% |
| **INCOME BEFORE TAXES** | 19962 | 18719 | 15380 | 1243 | 6.6% | 4582 | 29.8% |
| **INCOME TAX EXPENSE** | 4600 | 4140 | 6997 | 460 | 11.1% | (2397) | (34.3)% |
| **NET INCOME** | $15362 | $14579 | $8383 | $783 | 5.4% | $6979 | 83.3% |
| Weighted average common shares outstanding, basic | 35372205 | 37191460 | 39289271 | (1819255) | (4.9)% | (3917066) | (10.0)% |
| Weighted average common shares outstanding, diluted | 35579456 | 37550409 | 39289271 | (1970953) | (5.2)% | (3709815) | (9.4)% |
| Earnings per share, basic | $0.43 | $0.39 | $0.21 | $0.04 | 10.3% | $0.22 | 104.8% |
| Earnings per share, diluted | $0.43 | $0.39 | $0.21 | $0.04 | 10.3% | $0.22 | 104.8% |

---

------

**NB BANCORP, INC.**

**AVERAGE BALANCES, INTEREST EARNED/PAID & AVERAGE YIELDS**

**(Unaudited)**

**(Dollars in thousands)**

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **For the Three Months Ended**  | **For the Three Months Ended**  | **For the Three Months Ended**  | **For the Three Months Ended**  | **For the Three Months Ended**  | **For the Three Months Ended**  | **For the Three Months Ended**  | **For the Three Months Ended**  | **For the Three Months Ended**  |
|  | **September 30, 2025** | **September 30, 2025** | **September 30, 2025** | **June 30, 2025** | **June 30, 2025** | **June 30, 2025** | **September 30, 2024** | **September 30, 2024** | **September 30, 2024** |
|  | **Average** <br>**Outstanding** <br>**Balance** | <br>**Interest** | <br>**Average** <br>**Yield/Rate** <sup>(4)</sup> | **Average** <br>**Outstanding** <br>**Balance** | <br>**Interest** | <br>**Average** <br>**Yield/Rate** <sup>(4)</sup> | **Average** <br>**Outstanding** <br>**Balance** | <br>**Interest** | <br>**Average** <br>**Yield/Rate** <sup>(4)</sup> |
| **Interest-earning assets:** |  |  |  |  |  |  |  |  |  |
| Loans | $4612837 | $77365 | 6.65% | $4479682 | $74719 | 6.69% | $4188504 | $70518 | 6.70% |
| Securities | 236187 | 2253 | 3.78% | 232812 | 2307 | 3.97% | 204273 | 1768 | 3.44% |
| Other investments <sup>(5)</sup> | 32510 | 223 | 2.72% | 28450 | 605 | 8.53% | 26239 | 223 | 3.38% |
| Short-term investments <sup>(5)</sup> | 176884 | 1847 | 4.14% | 199271 | 2217 | 4.46% | 264394 | 3494 | 5.26% |
| &nbsp;&nbsp;&nbsp;Total interest-earning assets | 5058418 | 81688 | 6.41% | 4940215 | 79848 | 6.48% | 4683410 | 76003 | 6.46% |
| Non-interest-earning assets | 256763 |  |  | 277787 |  |  | 245138 |  |  |
| Allowance for credit losses | (42746) |  |  | (39931) |  |  | (38495) |  |  |
| &nbsp;&nbsp;&nbsp;Total assets | $5272435 |  |  | $5178071 |  |  | $4890053 |  |  |
| **Interest-bearing liabilities:** |  |  |  |  |  |  |  |  |  |
| Savings accounts | $121704 | 181 | 0.59% | $119736 | 134 | 0.45% | $112347 | 15 | 0.05% |
| NOW accounts | 467761 | 1365 | 1.16% | 469473 | 1227 | 1.05% | 474697 | 1361 | 1.14% |
| Money market accounts | 1119539 | 9363 | 3.32% | 1090163 | 9094 | 3.35% | 877218 | 7762 | 3.52% |
| Certificates of deposit and individual retirement accounts | 1933665 | 20364 | 4.18% | 1964678 | 21235 | 4.34% | 1940992 | 24474 | 5.02% |
| &nbsp;&nbsp;&nbsp;Total interest-bearing deposits | 3642669 | 31273 | 3.41% | 3644050 | 31690 | 3.49% | 3405254 | 33612 | 3.93% |
| FHLB and FRB advances | 199852 | 2240 | 4.45% | 103406 | 1151 | 4.46% | 85156 | 1067 | 4.98% |
| &nbsp;&nbsp;&nbsp;Total interest-bearing liabilities | 3842521 | 33513 | 3.46% | 3747456 | 32841 | 3.52% | 3490410 | 34679 | 3.95% |
| Non-interest-bearing deposits | 604631 |  |  | 591873 |  |  | 566353 |  |  |
| Other non-interest-bearing liabilities | 95304 |  |  | 93072 |  |  | 78681 |  |  |
| &nbsp;&nbsp;&nbsp;Total liabilities | 4542456 |  |  | 4432401 |  |  | 4135444 |  |  |
| Shareholders' equity | 729979 |  |  | 745670 |  |  | 754609 |  |  |
| &nbsp;&nbsp;&nbsp;Total liabilities and shareholders' equity | $5272435 |  |  | $5178071 |  |  | $4890053 |  |  |
| Net interest income |  | $48175 |  |  | $47007 |  |  | $41324 |  |
| Net interest rate spread <sup>(1)</sup> |  |  | 2.95% |  |  | 2.96% |  |  | 2.51% |
| Net interest-earning assets <sup>(2)</sup> | $1215897 |  |  | $1192759 |  |  | $1193000 |  |  |
| Net interest margin <sup>(3)</sup> |  |  | 3.78% |  |  | 3.82% |  |  | 3.51% |
| Average interest-earning assets to interest-bearing liabilities | 131.64% |  |  | 131.83% |  |  | 134.18% |  |  |

---

(1) Net interest rate spread represents the difference between the weighted average yield on interest-earning assets and the weighted average rate of interest-bearing liabilities.

(2) Net interest-earning assets represent total interest-earning assets less total interest-bearing liabilities.

(3) Net interest margin represents net interest income divided by average total interest-earning assets.

(4) Annualized.

(5) Other investments are comprised of FRB stock, FHLB stock and swap collateral accounts. Short-term investments are comprised of cash and cash equivalents.

------

**NB BANCORP, INC.**

**COMMERCIAL REAL ESTATE BY COLLATERAL TYPE**

**(Unaudited)**

**(Dollars in thousands)**

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **September 30, 2025** | **September 30, 2025** | **September 30, 2025** | **September 30, 2025** |
|  | **Owner-Occupied** | **Non-Owner-Occupied** | **Balance** | **Percentage** |
| Multi-Family | $— | $430428 | $430428 | 23% |
| Cannabis Facility | 254735 | 9168 | 263903 | 14% |
| Hospitality | 36173 | 211342 | 247515 | 13% |
| Office | 25257 | 169408 | 194665 | 11% |
| Industrial | 77488 | 114887 | 192375 | 10% |
| Mixed-Use | 8015 | 160451 | 168466 | 9% |
| Special Purpose | 80910 | 56766 | 137676 | 7% |
| Retail | 38621 | 86339 | 124960 | 7% |
| Other | 38605 | 81510 | 120115 | 6% |
| &nbsp;&nbsp;Total commercial real estate | $559804 | $1320299 | $1880103 | 100% |

---

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Change From June 30, 2025** | **Change From June 30, 2025** | **Change From June 30, 2025** | **Change From June 30, 2025** | **Change From September 30, 2024** | **Change From September 30, 2024** | **Change From September 30, 2024** | **Change From September 30, 2024** |
|  | **Owner-Occupied** | **Non-Owner-Occupied** | **Balance** | **Percentage** | **Owner-Occupied** | **Non-Owner-Occupied** | **Balance** | **Percentage** |
| Multi-Family | $— | $113683 | $113683 | 36% | $— | $157867 | $157867 | 58% |
| Cannabis Facility | (1022) | (5930) | (6952) | (3)% | (47196) | (6166) | (53362) | (17)% |
| Hospitality | 36173 | 39183 | 75356 | 44% | 36118 | 54315 | 90433 | 58% |
| Office | (900) | 3609 | 2709 | 1% | (5627) | (8206) | (13833) | (7)% |
| Industrial | (9303) | (343) | (9646) | (5)% | (32603) | 61702 | 29099 | 18% |
| Mixed-Use | 372 | 73 | 445 | 0% | (494) | 96400 | 95906 | 132% |
| Special Purpose | 2790 | (211) | 2579 | 2% | (926) | 2334 | 1408 | 1% |
| Retail | (933) | (504) | (1437) | (1)% | 13477 | (4314) | 9163 | 8% |
| Other | (1215) | 14431 | 13216 | 12% | (4033) | 14940 | 10907 | 10% |
| &nbsp;&nbsp;Total commercial real estate | $25962 | $163991 | $189953 | 11% | $(41284) | $368872 | $327588 | 21% |

---

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **June 30, 2025** | **June 30, 2025** | **June 30, 2025** | **June 30, 2025** | **September 30, 2024** | **September 30, 2024** | **September 30, 2024** | **September 30, 2024** |
|  | **Owner-Occupied** | **Non-Owner-Occupied** | **Balance** | **Percentage** | **Owner-Occupied** | **Non-Owner-Occupied** | **Balance** | **Percentage** |
| Multi-Family | $— | $316745 | $316745 | 19% | $— | 272561 | $272561 | 18% |
| Cannabis Facility | 255757 | 15098 | 270855 | 16% | 301931 | $15334 | 317265 | 20% |
| Hospitality |  | 172159 | 172159 | 10% | 55 | 157027 | 157082 | 10% |
| Office | 26157 | 165799 | 191956 | 12% | 30884 | 177614 | 208498 | 13% |
| Industrial | 86791 | 115230 | 202021 | 12% | 110091 | 53185 | 163276 | 11% |
| Mixed-Use | 7643 | 160378 | 168021 | 10% | 8509 | 64051 | 72560 | 5% |
| Special Purpose | 78120 | 56977 | 135097 | 8% | 81836 | 54432 | 136268 | 9% |
| Retail | 39554 | 86843 | 126397 | 7% | 25144 | 90653 | 115797 | 7% |
| Other | 39820 | 67079 | 106899 | 6% | 42638 | 66570 | 109208 | 7% |
| &nbsp;&nbsp;Total commercial real estate | $533842 | $1156308 | $1690150 | 100% | $601088 | $951427 | $1552515 | 100% |

---

------

---

| | | | |
|:---|:---|:---|:---|
| **NB BANCORP, INC.** |  |  |  |
| **NON-GAAP RECONCILIATION** |  |  |  |
| **(Unaudited)** |  |  |  |
| **(Dollars in thousands)** |  |  |  |
|  | **For the Three Months Ended**  | **For the Three Months Ended**  | **For the Three Months Ended**  |
|  | **September 30, 2025** | **June 30, 2025** | **September 30, 2024** |
| Net income (GAAP) | $15362 | $14579 | $8383 |
| **Add (Subtract):** |  |  |  |
| Adjustments to net income: |  |  |  |
| Defined benefit pension termination refund | (739) | - | - |
| State tax expense - voluntary disclosure agreements | 561 | - | - |
| Income tax expense on solar tax credit investment basis reduction | - | - | 2503 |
| BOLI surrender tax and modified endowment contract penalty | - | 64 | 1552 |
| Losses on sales of securities available for sale, net | - | - | 1868 |
| Merger and acquisition expenses | 994 | 530 | - |
| Adjustment for adoption of ASU 2023-02 | - | - | (913) |
| Total adjustments to net income | $816 | $594 | $5010 |
| Less net tax benefit associated with pre-tax non-GAAP adjustments to net income | 176 | 130 | 277 |
| Non-GAAP adjustments, net of tax | 640 | 464 | 4733 |
| **Operating net income (non-GAAP)** | $16002 | $15043 | $13116 |
| Weighted average common shares outstanding, basic | 35372205 | 37191460 | 39289271 |
| Weighted average common shares outstanding, diluted | 35579456 | 37550409 | 39289271 |
| **Operating earnings per share, basic (non-GAAP)** | $0.45 | $0.40 | $0.33 |
| **Operating earnings per share, diluted (non-GAAP)** | $0.45 | $0.40 | $0.33 |
| Noninterest expense (GAAP) | $30368 | $29305 | $24586 |
| **Subtract (Add):** |  |  |  |
| Noninterest expense components: |  |  |  |
| Defined benefit pension termination refund | $(739) | $- | $- |
| Merger and acquisition expenses | 994 | 530 | - |
| Adjustment for adoption of ASU 2023-02 | - | - | (913) |
| Total impact of non-GAAP noninterest expense adjustments | $255 | $530 | $(913) |
| **Noninterest expense on an operating basis (non-GAAP)** | $30113 | $28775 | $25499 |
| Noninterest income (GAAP) | $3551 | $4178 | $1265 |
| **Subtract (Add):** |  |  |  |
| Noninterest income components: |  |  |  |
| Losses on sales of securities available for sale, net | - | - | (1868) |
| Total impact of non-GAAP noninterest income adjustments | $- | $- | $(1868) |
| **Noninterest income on an operating basis (non-GAAP)** | $3551 | $4178 | $3133 |
| Operating net income (non-GAAP) | $16002 | $15043 | $13116 |
| Average assets | 5272435 | 5178071 | 4890053 |
| **Operating return on average assets (non-GAAP)** | 1.20% | 1.17% | 1.07% |
| Average shareholders' equity | $729979 | $745670 | $754609 |
| **Operating return on average shareholders' equity (non-GAAP)** | 8.70% | 8.09% | 6.91% |
| Noninterest expense on an operating basis (non-GAAP) | $30113 | $28775 | $25499 |
| Total revenue (net interest income plus total noninterest income) | 51726 | 51185 | 44457 |
| **Operating efficiency ratio (non-GAAP)** | 58.22% | 56.22% | 57.36% |
| Income tax expense (GAAP) | $4600 | $4140 | $6997 |
| **Subtract (Add):** |  |  |  |
| State tax expense - voluntary disclosure agreements | 561 | - | - |
| Income tax expense on solar tax credit investment basis reduction | - | - | 2503 |
| BOLI surrender tax and modified endowment contract penalty | - | 64 | 1552 |
| Total impact of non-GAAP income tax expense adjustments | $561 | $64 | $4055 |
| **Income tax expense on an operating basis (non-GAAP)** | $4039 | $4076 | $2942 |
| **Operating effective tax rate (non-GAAP)** | 20.2% | 21.8% | 19.1% |
|  | **As of** | **As of** | **As of** |
|  | **September 30, 2025** | **June 30, 2025** | **September 30, 2024** |
| Total shareholders' equity (GAAP) | $737034 | $737122 | $747449 |
| **Subtract:** |  |  |  |
| Intangible assets (core deposit intangible) | 967 | 1005 | 1116 |
| **Total tangible shareholders' equity (non-GAAP)** | 736067 | 736117 | 746333 |
| Total assets (GAAP) | 5442390 | 5226554 | 5002394 |
| **Subtract:** |  |  |  |
| Intangible assets (core deposit intangible) | 967 | 1005 | 1116 |
| **Total tangible assets (non-GAAP)** | $5441423 | $5225549 | $5001278 |
| Tangible shareholders' equity / tangible assets (non-GAAP) | 13.53% | 14.09% | 14.92% |
| Total common shares outstanding | 39826446 | 40748380 | 42705729 |
| **Tangible book value per share (non-GAAP)** | $18.48 | $18.06 | $17.48 |

---

------

**NB BANCORP, INC.**

**ASSET QUALITY – NON-PERFORMING ASSETS** <sup>(1)</sup>

**(Unaudited)**

**(Dollars in thousands)**

---

| | | | |
|:---|:---|:---|:---|
|  | **September 30, 2025** | **June 30, 2025** | **September 30, 2024** |
| Real estate loans: |  |  |  |
| &nbsp;&nbsp;One-to-four-family residential | $2771 | $3030 | $5070 |
| &nbsp;&nbsp;Home equity | 1001 | 1368 | 1060 |
| &nbsp;&nbsp;Commercial real estate | 809 | 1984 | 3030 |
| &nbsp;&nbsp;Construction and land development | 10 | 10 | 10 |
| Commercial and industrial | 4686 | 4558 | 4743 |
| Consumer | 2080 | 1528 | 2099 |
| &nbsp;&nbsp;Total | $11357 | $12478 | $16012 |
| &nbsp;&nbsp;Total non-performing loans to total loans | 0.24% | 0.27% | 0.38% |
| &nbsp;&nbsp;Total non-performing assets to total assets  | 0.21% | 0.24% | 0.32% |

---

(1) Non-performing loans and assets are comprised of non-accrual loans

------

**NB BANCORP, INC.**

**ASSET QUALITY – PROVISION, ALLOWANCE, AND NET (CHARGE-OFFS) RECOVERIES**

**(Unaudited)**

**(Dollars in thousands)**

---

| | | | |
|:---|:---|:---|:---|
|  | **For the Three Months Ended**  | **For the Three Months Ended**  | **For the Three Months Ended**  |
|  | **September 30, 2025** | **June 30, 2025** | **September 30, 2024** |
| Allowance for credit losses at beginning of the period | $42601 | $38338 | $37857 |
| &nbsp;&nbsp;Provision for credit losses | 1041 | 4244 | 4997 |
| &nbsp;&nbsp;Charge-offs: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Consumer | 693 | 1190 | 1305 |
| &nbsp;&nbsp;&nbsp;&nbsp;Commercial real estate |  |  | 4000 |
| &nbsp;&nbsp;Total charge-offs | 693 | 1190 | 5305 |
| &nbsp;&nbsp;Recoveries of loans previously charged off: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Commercial and industrial | 12 | 12 | 12 |
| &nbsp;&nbsp;&nbsp;&nbsp;Commercial real estate |  | 923 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Consumer | 91 | 274 | 44 |
| &nbsp;&nbsp;Total recoveries | 103 | 1209 | 56 |
| &nbsp;&nbsp;Net (charge-offs) recoveries | (590) | 19 | (5249) |
| Allowance for credit losses at end of the period | $43052 | $42601 | $37605 |
| Allowance to non-performing loans | 379% | 341% | 234.9% |
| Allowance to total loans outstanding at the end of the period | 0.91% | 0.94% | 0.89% |
| Annualized net (charge-offs) recoveries to average loans outstanding during the period | (0.05)% | 0.00% | (0.50)% |

---

------