Form 8-K

8-K — NB Bancorp, Inc.

Accession: 0001104659-26-116250

Filed: 2026-10-15

Period: 2026-10-15

CIK: 0001979330

SIC: 6036 (SAVINGS INSTITUTIONS, NOT FEDERALLY CHARTERED)

Item: Results of Operations and Financial Condition

Item: Regulation FD Disclosure

Item: Other Events

Item: Financial Statements and Exhibits

Documents

8-K — nbbk-20261015x8k.htm (Primary)

EX-99.1 (nbbk-ex99d1.htm)

EX-99.2 (nbbk-ex99d2.htm)

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8-K

8-K (Primary)

Filename: nbbk-20261015x8k.htm · Sequence: 1

NB BANCORP, INC._October 15, 2026

0001979330false00019793302026-10-152026-10-15

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(D) OF

THE SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported): October 15, 2026

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

(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

Trading

Symbol(s)

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 15, 2026, NB Bancorp, Inc. (the “Company”), the holding company for Needham Bank, issued a press release in which it announced its earnings for the quarter ended September 30, 2026.

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 7.01

Regulation FD Disclosure.

On October 15, 2026, the Company made available investor presentation materials which are included in the Current Report on Form 8-K as Exhibit 99.2 and are incorporated herein by reference.

The information in this Item 7.01 of this Current Report on Form 8-K, including Exhibit 99.2, is being furnished and shall not be deemed to be “filed” for the purposes of Section 18 of the Exchange Act or otherwise subject to the liabilities of that section.

Item 8.01

Other Events.

On October 15, 2026, the Board of Directors of the Company (the “Board”) declared a dividend of $0.07 per share. The dividend will be paid November 12, 2026 to shareholders of record as of October 29, 2026.

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.

(d)

Exhibits

Exhibit No.

Description

99.1

Press Release dated October 15, 2026

99.2

Q3 2026 Investor Presentation

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 15, 2026

By:

/s/Jean-Pierre Lapointe

Senior Executive Vice President and Chief Financial Officer

EX-99.1

Filename: nbbk-ex99d1.htm · Sequence: 2

Exhibit 99.1

NB Bancorp, Inc. Reports Third Quarter 2026 Financial Results, Declares Quarterly Cash Dividend

Investor Contact

JP Lapointe, SEVP, CFO

IR@NeedhamBank.com

781-474-5408

Needham, MA, October 15, 2026 – NB Bancorp, Inc. (the “Company”) (Nasdaq Capital Market: NBBK), the holding company of Needham Bank (the “Bank”), today announced its third quarter 2026 financial results.

SELECTED FINANCIAL HIGHLIGHTS FOR THE THIRD QUARTER OF 2026

● Net income for the third quarter of 2026 amounted to $23.1 million, or $0.58 per diluted common share, compared to net income of $21.1 million, or $0.53 per diluted common share, for the prior quarter. Return on average assets and return on average equity for the third quarter of 2026 were 1.23% and 10.73%, respectively, representing increases from 1.17% and 10.03%, respectively, for the prior quarter.

● Operating net income(1) for the third quarter of 2026 increased 8.9% and amounted to $23.8 million, or $0.60 per diluted common share, compared to operating net income(1) of $21.9 million, or $0.55 per diluted common share, for the prior quarter. Operating return on average assets(1) and operating return on average equity(1) for the third quarter of 2026 were 1.26% and 11.05%, respectively, representing increases from 1.21% and 10.39%, respectively, for the prior quarter.

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

o Contract settlement fees of $871 thousand ($695 thousand net of tax);

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

o Non-recurring fees for business line expansion of $649 thousand ($499 thousand net of tax);

o Final merger and acquisition costs of $296 thousand ($227 thousand net of tax) related to the Company’s acquisition of Provident; and

o Tax expense and a modified endowment contract penalty of $27 thousand related to the surrender of Bank-owned life insurance (“BOLI”) policies acquired from BankProv.

● Net interest margin declined by 3 basis points to 3.97% from 4.00% in the prior quarter as gross loans increased 5.3% while total deposits increased 3.2% during the current quarter. Net interest margin, excluding purchase accounting adjustments(1), declined by 6 basis points to 3.81% during the current quarter from 3.87% in the prior quarter.

● Efficiency ratio increased to 60.5% from 58.9% in the prior quarter, while operating efficiency ratio(1) increased to 59.3% from 57.7% in the prior quarter.

● Net charge-offs (annualized) as a percent of average loans increased to 0.31% from 0.07% in the prior quarter, primarily from the charge off of a previously reserved for purchased-credit-deteriorated (“PCD”) C&I loan of $4.0 million from the acquisition of BankProv. Non-performing loans as a percent of total loans increased to 0.53% at the end of the third quarter from 0.43% at the end of the prior quarter as a result of an acquired loan being placed on non-accrual during the current quarter. We continue to actively reduce the non-strategic enterprise value loan portfolio acquired from BankProv, which has reduced from $207.0 million at acquisition to $95.9 million as of September 30, 2026.

● Book value per share and tangible book value per share(1) were $19.57 and $18.91, respectively, in the current quarter, compared to $19.22 and $18.51, respectively, in the prior quarter. The increase in tangible book value per share(1) was a result of $23.1 million in net income for the quarter, partially offset by increased accumulated other comprehensive loss of $7.4 million resulting from market rate increases and $3.0 million in dividends paid during the quarter.

“The third quarter of 2026 displayed Needham Bank’s continued execution of our growth strategy as we continue to take market share and go up market for new customers. In the third quarter, gross loans increased 5.3%, while total deposits increased 3.2%. Through the first three quarters of 2026, total loans and total deposits have increased by 17.4% and 15.2%, respectively, on an annualized basis, while operating EPS has increased 27%. Our strong earnings performance reflects the continued momentum of our franchise, disciplined execution of our growth strategy, and the trust our customers place in us. We are expanding thoughtfully, investing in our capabilities and talent, and maintaining a strong balance sheet and prudent risk management. As we look ahead, we remain confident in our ability to deliver sustainable growth and long-term value for our customers, employees, communities, and shareholders,” stated Joseph Campanelli, Chairman, President and Chief Executive Officer.

Declaration of Dividend

The Board of Directors declared a quarterly cash dividend of $0.07 per share, payable on November 12, 2026, to shareholders of record as of October 29, 2026.

BALANCE SHEET

Total assets amounted to $7.68 billion as of September 30, 2026, representing an increase of $237.1 million, or 3.2%, from $7.45 billion as of June 30, 2026.

● Cash and cash equivalents decreased $134.1 million, or 33.5%, to $266.1 million from $400.2 million in the prior quarter, as a result of loan growth of $346.7 million and Federal Home Loan Bank (“FHLB”) borrowings paydowns of $30.9 million, partially offset by deposit growth of $201.3 million, along with net income earned during the quarter of $23.1 million.

● Gross loans increased $343.0 million, or 5.3%, to $6.77 billion, from $6.42 billion in the prior quarter. Net loans increased $346.7 million, or 5.5%, to $6.69 billion, from $6.34 billion in the prior quarter as loan demand remained strong and we continued to execute our strategic plan. The current quarter change was primarily seen in commercial real estate loans, excluding multi-family real estate loans, which increased $183.2 million, or 8.6%, construction and land development loans, which increased $80.8 million, or 10.6%, residential real estate loans, which increased $43.5 million, or 3.1%, and mortgage warehouse loans, which increased $20.4 million, or 9.4%.

● Deposits increased $201.3 million, or 3.2%, to $6.52 billion from $6.32 billion in the prior quarter.

o Core deposits, which the Company considers to be all non-brokered deposits, increased $228.5 million, or 4.1%, to $5.83 billion, from $5.60 billion in the prior quarter. The change in core deposits was primarily the result of money market accounts, which increased $111.9 million, or 6.7%, customer certificates of deposits, which increased $48.8 million, or 2.4%, noninterest bearing demand deposits, which increased $44.9 million, or 4.7%, and NOW accounts, which increased $15.1 million, or 2.0%.

o Brokered deposits decreased $27.2 million, or 3.8%, to $692.6 million, from $719.9 million in the prior quarter.

● Accrued expenses and other liabilities increased $49.9 million, or 64.3%, to $127.4 million from $77.5 million in the prior quarter, primarily as a result of the Company calling $20.4 million in collateral on our derivatives and a $15.8 million increase in the value of our derivatives driven by market rate changes, a $4.8 million increase in deferred solar investments for two new solar tax credit investments closed during the current quarter, a $1.4 million discount on low income housing tax credits purchased during the current quarter and additional increases for normal quarterly accruals based on financial results and headcount including federal income taxes, bonus and payroll.

● Shareholders’ equity increased $15.4 million, or 1.8%, to $857.4 million, from $842.0 million in the prior quarter, primarily as a result of net income of $23.1 million, partially offset by increased accumulated other comprehensive losses driven by increased market rates and $3.0 million in dividends paid during the current quarter. Shareholders’ equity to total assets and tangible shareholders’ equity(1) to tangible assets were 11.2% and 10.8%, respectively, at the end of the current quarter, compared to 11.3% and 10.9%, respectively, at the end of the prior quarter.

NET INTEREST INCOME

Net interest income increased $2.3 million, or 3.3%, to $71.4 million for the current quarter, compared to $69.1 million for the prior quarter. Net interest margin declined 3 basis points to 3.97% for the current quarter, from 4.00% in the prior quarter.

● Interest income increased during the current quarter, primarily attributable to an increase in the average balance of loans as a result of the continued execution of our growth strategy.

● Interest expense increased for the current quarter, primarily driven by increases in the average balances of certificates of deposit and individual retirement accounts and money market accounts, along with an increase in the average balance of Federal Reserve Bank (“FRB”) borrowings, partially offset by a decrease in the average balance of FHLB borrowings.

PROVISION FOR CREDIT LOSSES

Provision for credit losses decreased $1.9 million, or 61.0%, to a provision for credit losses of $1.2 million for the current quarter, compared to a provision for credit losses of $3.2 million for the prior quarter.

● The provision for credit losses on loans decreased $1.6 million, or 53.5%, to $1.4 million for the current quarter, compared to $3.0 million for the prior quarter, primarily driven by improvements in the credit quality of our individually evaluated loans resulting in reduced specific reserve requirements.

NONINTEREST INCOME

Noninterest income decreased $454 thousand, or 8.2%, to $5.1 million for the current quarter, compared to $5.6 million for the prior quarter.

● Gain (loss) on sale of loans, net, decreased $412 thousand to a $185 thousand loss in the current quarter, compared to a $227 thousand gain in the prior quarter, resulting from the deterioration in the fair market value of consumer loans held for sale during the current quarter.

● Other income decreased $192 thousand, or 36.6%, to $333 thousand for the current quarter, compared to $525 thousand in the prior quarter, primarily driven by $229 thousand of credit card branding and marketing income recognized during the prior quarter.

● Customer service fees decreased $176 thousand, or 4.8%, to $3.5 million for the current quarter, compared to $3.7 million in the prior quarter due to decreased loan fee income.

● The above decreases were partially offset by an increase in swap contract income of $407 thousand, or 565.3%, to $479 thousand for the current quarter, compared to $72 thousand for the prior quarter due to increased origination of swaps in the current quarter.

NONINTEREST EXPENSE

Noninterest expense increased $2.3 million, or 5.1%, to $46.3 million for the current quarter, compared to $44.0 million for the prior quarter.

● Salaries and employee benefits expenses increased $2.0 million, or 7.6%, to $27.5 million for the current quarter, compared to $25.5 million for the prior quarter, primarily resulting from continued hirings and business line expansion, including branch expansion and the build out of other growth initiatives which will provide benefit in the years ahead.

● Occupancy and equipment expenses increased $579 thousand, or 23.5%, to $3.0 million for the current quarter, compared to $2.5 million for the prior quarter, primarily resulting from contract settlement fees of $347 thousand.

● Data processing expenses increased $452 thousand, or 9.2%, to $5.4 million for the current quarter, compared to $4.9 million for the prior quarter, primarily driven by our continued investment in technology and systems in support of upcoming revenue initiatives, requiring the operation of systems in parallel for a period of time while new systems are implemented.

● Director and professional service fees increased $342 thousand, or 9.0%, to $4.2 million for the current quarter, compared to $3.8 million for the prior quarter, primarily driven by contract settlement fees of $524 thousand.

● The above increases were partially offset by reductions of $457 thousand, or 29.9%, in marketing and charitable contributions, as a result of reduced media expenditures and reductions of $452 thousand, or 13.8%, in general and administrative expenses, primarily driven by a $296 thousand reduction in merger and acquisition expenses and a $176 thousand reduction in education and training expenses during the current quarter.

INCOME TAXES

Income tax expense decreased $486 thousand, or 7.6%, to $5.9 million for the current quarter, compared to $6.4 million for the prior quarter. The effective tax rate and the operating effective tax rate(1) were both 20.3% for the current quarter, compared to 23.2% and 23.1%, respectively, for the prior quarter. The primary driver of the decrease in income tax expense and the effective tax rate were state tax credits purchased during the current quarter.

COMMERCIAL REAL ESTATE PORTFOLIO

Commercial real estate loans, including multi-family real estate loans, increased $200.5 million, or 7.5%, to $2.89 billion, during the current quarter.

● Cannabis facility commercial real estate loans decreased $14.6 million, or 6.9%, to $195.5 million during the current quarter. The Company’s cannabis facility commercial real estate portfolio is secured entirely by the underlying commercial real estate of the borrower operation, in addition to, in most cases, a lien on all business assets. 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).

● 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.

● The Company’s multi-family real estate loan portfolio increased $17.2 million, or 3.0%, during the current quarter to $585.0 million. The Company’s multi-family real estate loan portfolio consists of properties primarily located in the Greater Boston area, all of which are adjustable-rate loans and performing at the end of the current quarter.

● The Company’s $365.0 million commercial real estate 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 and all loans is performing at the end of the current quarter.

ASSET QUALITY

● The allowance for credit losses (“ACL”) amounted to $78.3 million as of September 30, 2026, or 1.16% of gross loans, compared to $82.1 million, or 1.28% of gross loans as of June 30, 2026.

● The Company recorded a provision for credit losses of $1.2 million during the current quarter, which included a provision for credit losses on loans of $1.4 million and a release of credit losses for unfunded commitments of $145 thousand, compared to a provision for credit losses of $3.2 million during the prior quarter, which included a provision for credit losses on loans of $3.0 million and a provision for credit losses for unfunded commitments of $199 thousand.

● The decrease in the ACL for the current quarter was primarily driven by reduced specific reserve requirements on individually assessed loans due to credit improvements and a charge off of a previously reserved PCD C&I loan of $4.0 million, partially offset by current quarter loan growth.

● Non-performing loans (“NPLs”) increased $8.4 million, or 30.4%, to $36.1 million as of September 30, 2026, from $27.7 million at the end of the prior quarter. The increase was primarily due to a commercial real estate loan acquired from BankProv being placed on non-accrual during the current quarter. The ACL as a percent of NPLs is 217% as of September 30, 2026, a decrease from 297% at the end of the prior quarter, primarily from a charge off of a PCD C&I loan of $4.0 million, partially offset by the increase in commercial real estate loans on non-accrual of $12.6 million.

● During the current quarter, the Company recorded total net charge-offs of $5.2 million, or 0.31% of average total loans on an annualized basis, compared to net charge-offs of $1.1 million, or 0.07% of average total loans on an annualized basis, in the prior quarter. The $4.1 million increase in net charge-offs during the current quarter was primarily a result of a $4.0 million charge off on a previously reserved PCD C&I loan which was identified as a PCD loan at acquisition and was fully reserved for in the prior quarter. No additional provisions were recognized during the current quarter to reserve for losses against this loan.

● As part of its ongoing credit risk management framework and prudent oversight, the Company periodically reviews lending relationships across all portfolios to ensure alignment with its risk appetite, regulatory expectations, and evolving market conditions.

● 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 and commercial and industrial loans. These loans are primarily made to individuals and businesses located in the Greater Boston metropolitan area and surrounding communities in greater New England.

(1) Represents a non-GAAP measure. See Non-GAAP reconciliation of the corresponding GAAP measures on pages 13 and 14.

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. Needham Bank also provides services to companies in the cannabis industry by providing loans and deposits, along with supporting payment platforms in this industry, such as Mosaic. 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 pre-provision net revenue, operating net income, operating pre-tax income, net interest income, excluding purchase accounting adjustments, operating noninterest expense, operating income tax expense, 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 shareholders, 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; risks related to the Company’s 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

September 30, 2026

June 30, 2026

September 30, 2025

Earnings data

Net interest income

71,440

69,145

48,175

Noninterest income

5,105

5,559

3,682

Total revenue

76,545

74,704

51,857

Provision for credit losses

1,246

3,193

1,396

Noninterest expense

46,281

44,017

30,499

Pre-tax income

29,018

27,494

19,962

Net income

23,133

21,123

15,362

Operating net income (non-GAAP)

23,828

21,877

16,002

Operating noninterest expense (non-GAAP)

45,410

43,072

30,244

Per share data

Earnings per share, basic

0.59

0.53

0.43

Earnings per share, diluted

0.58

0.53

0.43

Operating earnings per share, basic (non-GAAP)

0.60

0.55

0.45

Operating earnings per share, diluted (non-GAAP)

0.60

0.55

0.45

Book value per share

19.57

19.22

18.51

Tangible book value per share (non-GAAP)

18.91

18.51

18.49

Profitability

Return on average assets

1.23%

1.17%

1.16%

Operating return on average assets (non-GAAP)

1.26%

1.21%

1.20%

Return on average shareholders' equity

10.73%

10.03%

8.35%

Operating return on average shareholders' equity (non-GAAP)

11.05%

10.39%

8.70%

Net interest margin

3.97%

4.00%

3.78%

Net interest margin, excluding purchase accounting adjustments

3.81%

3.87%

3.78%

Cost of deposits

2.69%

2.68%

2.92%

Efficiency ratio

60.5%

58.9%

58.8%

Operating efficiency ratio (non-GAAP)

59.3%

57.7%

58.3%

Balance sheet, end of period

Total assets

7,683,996

7,446,880

5,442,446

Total loans

6,821,759

6,482,821

4,715,923

Total deposits

6,521,396

6,320,090

4,565,720

Total shareholders' equity

857,403

842,002

737,034

Asset quality

ACL

78,305

82,088

43,052

ACL / Total NPLs

217.1%

296.8%

379.1%

Total NPLs / Total loans

0.53%

0.43%

0.24%

Annualized net charge-offs / Average total loans

(0.31)%

(0.07)%

(0.05)%

Capital ratios

Shareholders' equity / Total assets

11.16%

11.31%

13.54%

Tangible shareholders' equity / tangible assets (non-GAAP)

10.82%

10.94%

13.53%

NB BANCORP, INC.

CONSOLIDATED BALANCE SHEETS

(Unaudited)

(Dollars in thousands, except share and per share data)

As of

September 30, 2026 change from

September 30, 2026

June 30, 2026

September 30, 2025

June 30, 2026

September 30, 2025

Assets

Cash and due from banks

238,502

372,522

197,604

(134,020)

(36.0)%

40,898

20.7%

Federal funds sold

27,555

27,632

97,829

(77)

(0.3)%

(70,274)

(71.8)%

Total cash and cash equivalents

266,057

400,154

295,433

(134,097)

(33.5)%

(29,376)

(9.9)%

Available-for-sale securities, at fair value

279,518

272,640

231,023

6,878

2.5%

48,495

21.0%

Loans held for sale, at fair value

55,906

59,927

(4,021)

(6.7)%

55,906

0.0%

Loans receivable, net of deferred fees

6,765,853

6,422,894

4,715,923

342,959

5.3%

2,049,930

43.5%

Allowance for credit losses

(78,305)

(82,088)

(43,052)

3,783

(4.6)%

(35,253)

81.9%

Net loans

6,687,548

6,340,806

4,672,871

346,742

5.5%

2,014,677

43.1%

Accrued interest receivable

29,971

28,898

21,074

1,073

3.7%

8,897

42.2%

Banking premises and equipment, net

51,107

49,298

33,842

1,809

3.7%

17,265

51.0%

Non-public investments

49,161

42,029

44,531

7,132

17.0%

4,630

10.4%

Bank-owned life insurance ("BOLI")

98,178

97,370

56,342

808

0.8%

41,836

74.3%

Prepaid expenses and other assets

71,048

69,228

57,720

1,820

2.6%

13,328

23.1%

Goodwill

16,520

18,512

(1,992)

(10.8)%

16,520

0.0%

Core deposit intangible, net

16,628

17,519

967

(891)

(5.1)%

15,661

1619.5%

Deferred income tax asset, net

62,354

50,499

28,643

11,855

23.5%

33,711

117.7%

Total assets

7,683,996

7,446,880

5,442,446

237,116

3.2%

2,241,550

41.2%

Liabilities and shareholders' equity

Deposits

Core deposits

5,828,759

5,600,238

4,177,047

228,521

4.1%

1,651,712

39.5%

Brokered deposits

692,637

719,852

388,673

(27,215)

(3.8)%

303,964

78.2%

Total deposits

6,521,396

6,320,090

4,565,720

201,306

3.2%

1,955,676

42.8%

Mortgagors' escrow accounts

4,919

4,420

4,543

499

11.3%

376

8.3%

Federal Home Loan Bank ("FHLB") borrowings

150,322

181,247

41,453

(30,925)

(17.1)%

108,869

262.6%

Accrued expenses and other liabilities

127,414

77,549

73,139

49,865

64.3%

54,275

74.2%

Accrued retirement liabilities

22,542

21,572

20,557

970

4.5%

1,985

9.7%

Total liabilities

6,826,593

6,604,878

4,705,412

221,715

3.4%

2,121,181

45.1%

Shareholders' equity:

Preferred stock, $0.01 par value, 5,000,000 shares authorized; no shares

issued and outstanding

0.0%

Common stock, $0.01 par value, 120,000,000 shares authorized; 43,818,490 issued and

outstanding at September 30, 2026 and June 30, 2026 and 39,826,446 issued and outstanding

at September 30, 2025

438

398

0.0%

10.1%

Additional paid-in capital

417,943

415,841

342,526

2,102

0.5%

75,417

22.0%

Unallocated common shares held by the Employee Stock Ownership Plan ("ESOP")

(40,690)

(41,285)

(43,049)

595

(1.4)%

2,359

(5.5)%

Retained earnings

495,082

474,970

440,281

20,112

4.2%

54,801

12.4%

Accumulated other comprehensive loss

(15,370)

(7,962)

(3,122)

(7,408)

93.0%

(12,248)

392.3%

Total shareholders' equity

857,403

842,002

737,034

15,401

1.8%

120,369

16.3%

Total liabilities and shareholders' equity

7,683,996

7,446,880

5,442,446

237,116

3.2%

2,241,550

41.2%

NB BANCORP, INC.

CONSOLIDATED STATEMENTS OF INCOME

(Unaudited)

(Dollars in thousands, except share and per share data)

For the Three Months Ended

Change From Three Months Ended

September 30, 2026

June 30, 2026

September 30, 2025

June 30, 2026

September 30, 2025

INTEREST AND DIVIDEND INCOME

Interest and fees on loans

110,730

106,574

77,365

4,156

3.9%

33,365

43.1%

Interest on securities

3,144

2,758

2,253

386

14.0%

891

39.5%

Interest and dividends on cash equivalents and other

2,282

2,460

2,070

(178)

(7.2)%

212

10.2%

Total interest and dividend income

116,156

111,792

81,688

4,364

3.9%

34,468

42.2%

INTEREST EXPENSE

Interest on deposits

42,896

40,686

31,273

2,210

5.4%

11,623

37.2%

Interest on borrowings

1,820

1,961

2,240

(141)

(7.2)%

(420)

(18.8)%

Total interest expense

44,716

42,647

33,513

2,069

4.9%

11,203

33.4%

NET INTEREST INCOME

71,440

69,145

48,175

2,295

3.3%

23,265

48.3%

PROVISION FOR CREDIT LOSSES

Provision for credit losses - loans

1,391

2,994

1,041

(1,603)

(53.5)%

350

33.6%

(Release of) provision for credit losses - unfunded commitments

(145)

199

355

(344)

(172.9)%

(500)

(140.8)%

Total provision for credit losses

1,246

3,193

1,396

(1,947)

(61.0)%

(150)

(10.7)%

NET INTEREST INCOME AFTER

PROVISION FOR CREDIT LOSSES

70,194

65,952

46,779

4,242

6.4%

23,415

50.1%

NONINTEREST INCOME

Customer service fees

3,505

3,681

2,498

(176)

(4.8)%

1,007

40.3%

Increase in cash surrender value of BOLI

808

962

631

(154)

(16.0)%

177

28.1%

Mortgage banking income

165

148

79.3%

11.5%

Swap contract income

479

208

407

565.3%

271

130.3%

Gain (loss) on sale of loans, net

(185)

227

(412)

(181.5)%

(230)

(511.1)%

Other income

333

525

152

(192)

(36.6)%

181

119.1%

Total noninterest income

5,105

5,559

3,682

(454)

(8.2)%

1,423

38.6%

NONINTEREST EXPENSE

Salaries and employee benefits

27,499

25,549

18,641

1,950

7.6%

8,858

47.5%

Director and professional service fees

4,158

3,816

2,920

342

9.0%

1,238

42.4%

Occupancy and equipment expenses

3,047

2,468

1,559

579

23.5%

1,488

95.4%

Data processing expenses

5,351

4,899

2,911

452

9.2%

2,440

83.8%

Marketing and charitable contribution expenses

1,073

1,530

949

(457)

(29.9)%

124

13.1%

FDIC and state insurance assessments

1,434

1,584

928

(150)

(9.5)%

506

54.5%

Core deposit intangible amortization expense

892

0.0%

855

2310.8%

General and administrative expenses

2,827

3,279

2,554

(452)

(13.8)%

273

10.7%

Total noninterest expense

46,281

44,017

30,499

2,264

5.1%

15,782

51.7%

INCOME BEFORE TAXES

29,018

27,494

19,962

1,524

5.5%

9,056

45.4%

INCOME TAX EXPENSE

5,885

6,371

4,600

(486)

(7.6)%

1,285

27.9%

NET INCOME

23,133

21,123

15,362

2,010

9.5%

7,771

50.6%

Weighted average common shares outstanding, basic

39,432,499

39,693,140

35,372,205

(260,641)

(0.7)%

4,060,294

11.5%

Weighted average common shares outstanding, diluted

39,833,964

40,000,305

35,579,456

(166,341)

(0.4)%

4,254,508

12.0%

Earnings per share, basic

0.59

0.53

0.43

0.06

11.3%

0.16

37.2%

Earnings per share, diluted

0.58

0.53

0.43

0.05

9.4%

0.15

34.9%

NB BANCORP, INC.

AVERAGE BALANCES, INTEREST EARNED/PAID & AVERAGE YIELDS

(Unaudited)

(Dollars in thousands)

For the Three Months Ended

September 30, 2026

June 30, 2026

September 30, 2025

Average

Outstanding

Average

Outstanding

Average

Outstanding

Average

Balance

Interest

Yield/Rate (4)

Balance

Interest

Yield/Rate (4)

Balance

Interest

Yield/Rate (4)

Interest-earning assets:

Loans (5)

6,599,690

110,730

6.66

6,377,025

106,574

6.70

4,612,631

77,365

6.65

Securities

280,383

3,144

4.45

279,196

2,758

3.96

236,187

2,253

3.78

Other investments (5)

22,788

252

4.39

34,301

612

7.16

32,585

223

2.72

Short-term investments (5)

243,386

2,030

3.31

237,667

1,848

3.12

178,290

1,847

4.11

Total interest-earning assets

7,146,247

116,156

6.45

6,928,189

111,792

6.47

5,059,693

81,688

6.41

Non-interest-earning assets

409,580

394,611

256,928

Allowance for credit losses

(81,486)

(81,276)

(42,746)

Total assets

7,474,341

7,241,524

5,273,875

Interest-bearing liabilities:

Savings accounts

218,715

488

0.89

210,544

324

0.62

121,704

181

0.59

NOW accounts

770,406

2,771

1.43

701,167

2,265

1.30

467,761

1,397

1.18

Money market accounts

1,735,863

13,305

3.04

1,699,366

12,783

3.02

1,119,539

9,331

3.31

Certificates of deposit and individual retirement accounts

2,682,909

26,332

3.89

2,595,290

25,314

3.91

1,933,665

20,364

4.18

Total interest-bearing deposits

5,407,893

42,896

3.15

5,206,367

40,686

3.13

3,642,669

31,273

3.41

FHLB borrowings

78,665

868

4.38

208,453

1,956

3.76

199,852

2,240

4.45

FRB borrowings

100,543

952

3.76

549

3.65

—

Total interest-bearing liabilities

5,587,101

44,716

3.18

5,415,369

42,647

3.16

3,842,521

33,513

3.46

Non-interest-bearing deposits

915,117

883,487

606,046

Other non-interest-bearing liabilities

116,917

98,225

95,329

Total liabilities

6,619,135

6,397,081

4,543,896

Shareholders' equity

855,206

844,443

729,979

Total liabilities and shareholders' equity

7,474,341

7,241,524

5,273,875

Net interest income

71,440

69,145

48,175

Net interest rate spread (1)

3.27

3.31

2.95

Net interest-earning assets (2)

1,559,146

1,512,820

1,217,172

Net interest margin (3)

3.97

4.00

3.78

Average interest-earning assets to interest-bearing liabilities

127.91

127.94

131.68

(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) Loans include loans held for sale, at fair value. 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, 2026

Owner-Occupied

Non-Owner-Occupied

Balance

Percentage

Multi-Family

—

584,967

19%

Industrial

194,827

166,816

361,643

13%

Office

43,627

321,332

364,959

13%

Hospitality

811

305,332

306,143

11%

Retail

126,658

199,417

326,075

11%

Mixed-Use

24,524

237,946

262,470

Cannabis Facility

186,687

8,827

195,514

Special Purpose

83,062

115,289

198,351

Recreational Vehicle Parks

11,057

64,962

76,019

Self Storage Facilities

—

55,191

Other

79,346

79,028

158,374

Total commercial real estate

750,599

2,139,107

2,889,706

100%

Change From June 30, 2026

Change From September 30, 2025

Owner-Occupied

Non-Owner-Occupied

Balance

Percentage

Owner-Occupied

Non-Owner-Occupied

Balance

Percentage

Multi-Family

—

17,245

—

154,539

36%

Industrial

9,819

3,704

13,523

117,339

54,152

171,491

90%

Office

(1,008)

28,725

27,717

18,370

137,414

155,784

74%

Hospitality

(40,455)

58,090

17,635

(35,362)

93,990

58,628

24%

Retail

335

90,216

90,551

38%

88,037

113,078

201,115

161%

Mixed-Use

2,116

12,554

14,670

16,509

77,495

94,004

56%

Cannabis Facility

(14,466)

(86)

(14,552)

(7)%

(68,048)

(341)

(68,389)

(26)%

Special Purpose

(1,593)

45,452

43,859

28%

2,152

58,523

60,675

44%

Recreational Vehicle Parks

(2,198)

(200)

(2,398)

(3)%

11,057

64,962

76,019

100%

Self Storage Facilities

—

(15,956)

(22)%

—

55,191

100%

Other

(8,198)

16,361

8,163

40,741

9,805

50,546

47%

Total commercial real estate

(55,648)

256,105

200,457

190,795

818,808

1,009,603

54%

June 30, 2026

September 30, 2025

Owner-Occupied

Non-Owner-Occupied

Balance

Percentage

Owner-Occupied

Non-Owner-Occupied

Balance

Percentage

Multi-Family

—

567,722

20%

—

430,428

23%

Industrial

185,008

163,112

348,120

13%

77,488

112,664

190,152

10%

Office

44,635

292,607

337,242

12%

25,257

183,918

209,175

11%

Hospitality

41,266

247,242

288,508

11%

36,173

211,342

247,515

13%

Retail

126,323

109,201

235,524

38,621

86,339

124,960

Mixed-Use

22,408

225,392

247,800

8,015

160,451

168,466

Cannabis Facility

201,153

8,913

210,066

254,735

9,168

263,903

14%

Special Purpose

84,655

69,837

154,492

80,910

56,766

137,676

Recreational Vehicle Parks

13,255

65,162

78,417

—

Self Storage Facilities

—

71,147

—

Other

87,544

62,667

150,211

38,605

69,223

107,828

Total commercial real estate

806,247

1,883,002

2,689,249

100%

559,804

1,320,299

1,880,103

100%

NB BANCORP, INC.

NON-GAAP RECONCILIATION

(Unaudited)

(Dollars in thousands)

For the Three Months Ended

September 30, 2026

June 30, 2026

September 30, 2025

Net income (GAAP)

23,133

21,123

15,362

Add (Subtract):

Adjustments to net income:

Non-recurring fees for business line expansion

649

Contract settlement fees

871

BOLI surrender tax and modified endowment contract penalty

Defined benefit pension termination refund

(739)

State tax expense - voluntary disclosure agreements

561

Merger and acquisition expenses

296

994

Total adjustments to net income

871

972

816

Less net tax benefit associated with pre-tax non-GAAP adjustments to net income

176

218

176

Non-GAAP adjustments, net of tax

695

754

640

Operating net income (non-GAAP)

23,828

21,877

16,002

Weighted average common shares outstanding, basic

39,432,499

39,693,140

35,372,205

Weighted average common shares outstanding, diluted

39,833,964

40,000,305

35,579,456

Operating earnings per share, basic (non-GAAP)

0.60

0.55

0.45

Operating earnings per share, diluted (non-GAAP)

0.60

0.55

0.45

Pre-tax income (GAAP)

29,018

27,494

19,962

Add (Subtract):

Adjustments to pre-tax income:

Contract settlement fees

871

Defined benefit pension termination refund

(739)

Non-recurring fees for business line expansion

649

Merger and acquisition expenses

296

994

Total adjustments to pre-tax income

871

945

255

Operating pre-tax income (non-GAAP)

29,889

28,439

20,217

Net interest income (GAAP)

71,440

69,145

48,175

Subtract (Add):

Adjustments to net interest income:

Purchase accounting adjustments

2,614

1,972

Total impact of non-GAAP net interest income adjustments

2,614

1,972

Net interest income, excluding purchase accounting adjustments (non-GAAP)

68,826

67,173

48,175

Noninterest expense (GAAP)

46,281

44,017

30,499

Subtract (Add):

Adjustments to noninterest expense:

Contract settlement fees

871

Non-recurring fees for business line expansion

649

Defined benefit pension termination refund

(739)

Merger and acquisition expenses

296

994

Total impact of non-GAAP noninterest expense adjustments

871

945

255

Operating noninterest expense (non-GAAP)

45,410

43,072

30,244

Operating net income (non-GAAP)

23,828

21,877

16,002

Average assets

7,474,341

7,241,524

5,273,875

Operating return on average assets (non-GAAP)

1.26%

1.21%

1.20%

Average shareholders’ equity

855,206

844,443

729,979

Operating return on average shareholders' equity (non-GAAP)

11.05%

10.39%

8.70%

Operating noninterest expense (non-GAAP)

45,410

43,072

30,244

Total pre-provision net revenue (net interest income plus total noninterest income)

76,545

74,704

51,857

Operating efficiency ratio (non-GAAP)

59.32%

57.66%

58.32%

Income tax expense (GAAP)

5,885

6,371

4,600

Add (Subtract):

Adjustments to income tax expense:

State tax expense - voluntary disclosure agreements

(561)

Net tax benefit associated with pre-tax non-GAAP adjustments to net income

176

218

176

BOLI surrender tax and modified endowment contract penalty

(27)

Total impact of non-GAAP income tax expense adjustments

176

191

(385)

Operating income tax expense (non-GAAP)

6,061

6,562

4,215

Operating effective tax rate (non-GAAP)

20.3%

23.1%

20.8%

As of

September 30, 2026

June 30, 2026

September 30, 2025

Total shareholders’ equity (GAAP)

857,403

842,002

737,034

Subtract:

Intangible assets (core deposit intangible, net of tax and goodwill)

28,814

31,023

744

Total tangible shareholders’ equity (non-GAAP)

828,589

810,979

736,290

Total assets (GAAP)

7,683,996

7,446,880

5,442,446

Subtract:

Intangible assets (core deposit intangible, net of tax and goodwill)

28,814

31,023

744

Total tangible assets (non-GAAP)

7,655,182

7,415,857

5,441,702

Tangible shareholders' equity / tangible assets (non-GAAP)

10.82%

10.94%

13.53%

Total common shares outstanding

43,818,490

39,826,446

Tangible book value per share (non-GAAP)

18.91

18.51

18.49

NB BANCORP, INC.

ASSET QUALITY – NON-PERFORMING ASSETS (1)

(Unaudited)

(Dollars in thousands)

September 30, 2026

June 30, 2026

September 30, 2025

Real estate loans:

One-to-four-family residential

3,255

2,963

2,771

Home equity

1,546

1,547

1,001

Commercial real estate

13,587

957

809

Construction and land development

Commercial and industrial

16,686

20,446

4,686

Consumer

1,002

1,747

2,080

Total

36,076

27,660

11,357

Total non-performing loans to total loans

0.53%

0.43%

0.24%

Total non-performing PCD loans to total loans (2)

0.15%

0.22%

0.00%

Total non-performing non-PCD loans to total loans

0.38%

0.21%

0.24%

Total non-performing assets to total assets

0.47%

0.37%

0.21%

Total non-performing PCD assets to total assets

0.14%

0.19%

0.00%

Total non-performing non-PCD assets to total assets

0.33%

0.18%

0.21%

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

(2) PCD loans were the result of the BankProv acquisition closed on November 15, 2025 and did not exist prior to that date.

NB BANCORP, INC.

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

(Unaudited)

(Dollars in thousands)

For the Three Months Ended

September 30, 2026

June 30, 2026

September 30, 2025

Allowance for credit losses at beginning of the period

82,088

80,195

42,601

Provision for credit losses

1,391

2,994

1,041

Charge-offs:

Commercial & Industrial

(4,044)

(294)

—

Consumer

(1,335)

(2,081)

(693)

Commercial real estate

—

(10)

—

Total charge-offs

(5,379)

(2,385)

(693)

Recoveries of loans previously charged off:

Commercial and industrial

1,188

Consumer

193

Total recoveries

205

1,284

103

Net charge-offs

(5,174)

(1,101)

(590)

Allowance for credit losses at end of the period

78,305

82,088

43,052

Allowance to non-performing loans

217%

297%

379%

Allowance to total loans outstanding at the end of the period

1.16%

1.28%

0.91%

Annualized net charge-offs to average loans outstanding during the period

(0.31)%

(0.07)%

(0.05)%

Annualized net charge-offs to average loans outstanding during the period – PCD loans (1)

(0.24)%

0.00%

Annualized net charge-offs to average loans outstanding during the period – Non-PCD loans

(0.07)%

(0.05)%

(1) PCD loans were the result of the BankProv acquisition closed on November 15, 2025 and did not exist prior to that date.

EX-99.2

Filename: nbbk-ex99d2.htm · Sequence: 3

Exhibit 99.2

Q3 2026 Investor

Presentation

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; risks related to the Company’s 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. Overview

Overview of NB Bancorp, Inc.

Total

Assets

$7.7B

Total

Gross

Loans

$6.8B

Total

Deposits

$6.5B

Total

Equity

$857M

TCE/

10.82%²

Tier 1

Leverage

Ratio

11.25%¹

Tier 1

Capital

Ratio

11.64%¹

Total

Capital

Ratio

12.42%¹

Q3’26

Operating

ROAA

1.26%²

Q3’26

Operating

ROATCE

11.05%²

Q3’26

NIM

3.97%

Q3’26

Operating

Efficiency

Ratio

59.32%²

Balance Sheet

Profitability

Capital

1) Financials reflect regulatory holding company data; estimated prior to filing of call report

2) See Appendix for reconciliation of non-GAAP financial metrics 4

NASDAQCM: NBBK

Headquartered: Needham, MA

IPO: December 2023; Raised ~$410M in gross proceeds

BankProv: Acquisition Closed November 15, 2025

Fourth largest public community bank

headquartered in Massachusetts

The “Builder’s Bank” with deep

community relationships and extensive

expertise

Full-service bank with an array of

commercial banking products for retail

and business customers

Founded in 1892 to help businesses

and customers build their futures

Performance Post-IPO

1) See Appendix for reconciliation of non-GAAP financial metrics 5

Asset Growth in $M +49.0% Deposits in $M +50.5% YTD Operating EPS1 +484.6%

Net Interest Margin +14.1% Operating ROAA1 +46.4% Share Price +12.1%

$5,158

$7,684

IPO Q3'26

$4,333

$6,521

IPO Q3'26

$0.26

$1.52

IPO Q3'26

3.48%

3.97%

IPO Q3'26

0.86%

1.26%

IPO Q3'26

$10.00

$22.12

IPO Q3'26

Our branch network covers the metro-west area of Boston, southern New Hampshire and surrounding communities which are our primary deposit market areas. We

consider our primary lending market area to be the Greater Boston metropolitan area and surrounding communities in Massachusetts, eastern Connecticut, southern

New Hampshire and Rhode Island.

Springfield

Manchester

Concord

Boston

Lowell

Plymouth

NBBK (21)

Keene

Gardner

Brockton

Pittsfield

Worcester

Gloucester

Dover

Boston MSA Community Bank Deposit Market Share¹

Total Deps.

2025 2026 in Market

Rank Rank Institution ($M)

3 1 NB Bancorp Inc. 6,237

2 2 Salem Five Bancorp 6,045

1 3 Cambridge Financial Group Inc. 5,823

4 4 Middlesex Bancorp MHC 4,695

6 5 Charlesbridge MHC 4,276

5 6 Leader Bancorp Inc. 4,262

7 7 IFS 1820 Bancorp MHC 3,367

9 8 Northern Bancorp Inc. 2,823

8 9 Hometown Financial Group MHC 2,749

10 10 River Run Bancorp MHC 2,247

All Other Market Participants 31,738

Market Total 74,261

1) Excludes banks with total assets greater than $10 billion; FDIC deposit data as of June 30, 2026

Source: S&P Capital IQ Pro

Boston-Cambridge-Newton,

MA-NH MSA

Total Population: 5,065,382

‘26-’31 Proj. Pop. Change: 2.14%

Median HHI: $121,960

Proj. HHI Change: 12.10%

Well Positioned in Highly

Attractive Markets

Strength of Growing Deposit Base

Over the two-year period ended June 30, 2026 (latest market data available), each Needham Bank

branch experienced growth that matched or exceeded growth in its respective market. In aggregate,

Needham Bank achieved growth at over 9 times the overall market growth during this period.

Branch June 2024 - June 2026 Deposit Growth June 2024 - June 2026 Market Growth* NB Performance

Needham Main Office 16% 5% 348%

Ashland 41% 1% 5327%

Dedham 30% 7% 445%

Dover 17% 4% 442%

Medfield** 7% -17% N/A

Medford Retail 18% 13% 139%

Millis 29% 15% 191%

Mission Hill 21% 2% 931%

Natick 27% 1% 2127%

Wellesley** 14% -11% N/A

Westwood 20% 10% 197%

All NB Branches (Excludes BP) 20% 2% 962%

*Market Grow th Source: S&P Capital IQ

**Incalculable as market contracted

Largest Employers

Boston MSA 2026-2031 Projected HHI Δ

Massachusetts 2025 GDP by Industry Boston MSA Median HHI ($)

Industry Drivers of Local Market

1) Other industries include accommodation and food services, waste management and remediation services,

educational services, management of companies, transportation and warehousing, utilities, arts and

entertainment.

Source: S&P Capital IQ Pro; U.S. Bureau of Economic Analysis; Massachusetts Department of Economic Research

Real Estate &

Finance

22.8%

Professional

19.4%

Healthcare &

Education

12.1%

Government

8.5%

Retail Trade

4.4%

Entertainment

4.2%

Construction

3.8%

Transportation & Warehousing

2.1%

Other

22.7%

Allston

May 2026

Salem, NH

June 2026

Prudential Center – Boston

August 2026

Opened Branches - 2026

Experienced Institutional Leadership

Joseph Campanelli

Chairman, President & CEO

William Darcey

President & CEO – Provider

Insurance Group

Paul J. Ayoub

Chair – Nutter McClennen & Fish

LLP

Susan Elliott

Retired EVP – Federal Home

Loan Bank of Boston

Angela Jackson

CEO – Future Forward Strategies

Christopher Lynch

President – Marshall Resources

Joseph R. Nolan, Jr.

Chairman, President & CEO –

Eversource

Francis Orfanello

Lead Independent Director

Operating Partner – One Rock

Capital Partners

Hope Pascucci

President & Principal – Rose

Grove Capital Management

Raza Shaikh

Managing Director – Launchpad

Venture Group

Mark Whalen

Retired CEO – Needham Bank

Joseph

Campanelli

Chairman,

President & CEO

Christine

Roberts

SEVP & Chief

Operating Officer

James White

EVP & Chief Administrative

Officer

Paul Evangelista

EVP & Director of Consumer

Payments

Kevin Henkin

EVP & Chief Credit Officer

Stephanie Maiona

EVP, Director of Commercial

Real Estate

James Daley

EVP, Director Commercial and

Industrial

Executive Management Board of Directors

Lapointe

SEVP & Chief

Financial Officer

Kenneth Montgomery

Retired FVP, COO – Federal

Reserve Bank of Boston

Matt Richardson

EVP, Treasury & Cash

Management Services

Joseph Reilly

Former President & CEO –

Provident Bancorp, Inc. &

BankProv

Investment Highlights

Experienced management team and talent base to grow market share, invest for the future and serve the

community

Focused on driving franchise value via relationship-based banking and active community involvement

History of consistent earnings through various market cycles

Excellent credit profile reflective of a diligent and conservative risk management culture

Prudent stewards of capital – committed to responsible lending, driving organic growth and investing in the future

Strong and stable deposit base with 130+ year history of banking in the communities served

Attractive markets of operation to continue generating core loans and deposits

Financial Highlights for the Third

Quarter 2026

• GAAP Net income of $23.1 million, or $0.58 per diluted share for the quarter.

• Operating Net Income1 (Non-GAAP) of $23.8 million, or $0.59 per diluted share for the quarter.

• Gross loans increased $343.8 million, or 5.3%, to $6.78 billion, from $6.43 billion in the prior quarter.

• Driven by growth in commercial real estate loans of $183.2 million, or 8.6%, residential real estate loans of

$43.5 million, or 3.1%, construction and land development loans of $80.8 million, or 10.6%, and mortgage

warehouse loans of $20.4 million, or 9.4%.

• Net interest margin declined 3 basis points to 3.97%, while net interest income increased $2.3

million, or 3.3%, during the quarter.

• Primarily the result of increased average loan balances as we continued to execute our strategic plan.

• Net intertest margin, excluding purchase accounting adjustments, declined by 6 basis points to 3.81%

during the current quarter from 3.87% in the prior quarter.

• Asset quality remains strong:

• Annualized Q3 2026 net charge-offs of 0.31% of average total loans and non-performing loans of $36.1

million, or 0.53% of total loans.

• Increase in net charge-offs and non-performing loans was a result of an acquired purchase-credit-deteriorated ("PCD") loan being charged off and settled in the current quarter with no additional losses.

• Provision for credit losses was $1.2 million, down from $3.2 million in the prior quarter, primarily from

a reduction in required specific reserves on individually evaluated loans due to improved credit

conditions.

1) See Appendix for reconciliation of non-GAAP financial metrics

Financial Highlights for the Third

Quarter 2026 (Cont.)

• Allowance for Credit Losses (“ACL”) decreased $3.8 million, or 4.6%, during the quarter, primarily driven by the

previously mentioned PCD charge off and reduced need for specific reserves on individually evaluated loans,

partially offset by loan growth.

• Resulting in a reduced coverage ratio of 1.16% of total loans, compared to 1.28% in the prior quarter.

• Core deposits increased $228.5 million, or 4.1%, to $5.83 billion from $5.60 billion in the prior

quarter

• Primarily driven by growth in money market accounts of $111.9 million, or 6.7%, customer certificates of

deposit of $48.8 million, or 2.4% and noninterest-bearing demand deposits of $44.9 million, or 4.7%.

• Loans-to-deposit ratio increased to 104% during the quarter from 102% in the prior quarter.

• Borrowings and brokered deposits totaled 11.0% of total assets, which is a 1.13% decrease from the

prior quarter, resulting from paydowns of borrowings during the current quarter.

• Strong capital position with 11.2% shareholders equity to total assets and 10.8% tangible

shareholders' equity to tangible assets¹.

• Book value and tangible book value per share were $19.57 and $18.91¹, respectively.

• One-time transactions recorded during the quarter included:

• Contract settlement fees of $871 thousand ($695 thousand net of tax).

1) See Appendix for reconciliation of non-GAAP financial metrics

Financial Overview

Total Deposits ($M) Tangible Common Equity ($M)

Total Assets ($M) Total Gross Loans ($M)

Targeted Balance Sheet Growth

$2,923 $3,592

$4,533 $5,158

$7,001 $7,226 $7,447 $7,684

2021 2022 2023 2024 2025 Q1'26 Q2'26 Q3'26

$2,105

$3,015

$3,889 $4,333

$5,986 $6,210 $6,423 $6,766

2021 2022 2023 2024 2025 Q1'26 Q2'26 Q3'26

$2,565 $2,887 $3,387

$4,178

$5,854 $6,097 $6,320 $6,521

2021 2022 2023 2024 2025 Q1'26 Q2'26 Q3'26

$326 $343

$757 $765 $826 $811 $811 $829

2021 2022 2023 2024 2025 Q1'26 Q2'26 Q3'26

Operating Return on Avg. Tangible

Common Equity (%)1 Operating Net Income ($M)1, 2

Operating Return on Average Assets (%)¹ Operating Return on Average Equity (%)¹

Track Record of Strong Performance

1) See Appendix for reconciliation of non-GAAP financial metrics

2) Q1, Q2 and Q3 ’26 operating net income reflects annualized totals

0.77%

0.96% 0.86% 0.95%

1.21%

0.92%

1.21% 1.26%

2021 2022 2023 2024 2025 Q1'26 Q2'26 Q3'26

6.81%

9.06% 9.40%

6.09%

8.73%

7.43%

10.39% 11.05%

2021 2022 2023 2024 2025 Q1'26 Q2'26 Q3'26

6.81%

9.08% 9.43%

6.10%

8.93%

7.72%

10.79%11.45%

2021 2022 2023 2024 2025 Q1'26 Q2'26 Q3'26

$21.6 $30.1 $34.3

$45.5

$66.2 $64.0

$87.7 $94.5

2021 2022 2023 2024 2025 Q1'26 Q2'26 Q3'26

Operating Noninterest Income /

Average Assets (%)¹

Operating Noninterest Expense /

Average Assets (%)¹

Net Interest Margin (%) Operating Efficiency Ratio (%)¹

Track Record of Strong Performance

(Cont.)

1) See Appendix for reconciliation of non-GAAP financial metrics

2.81%

3.49% 3.41% 3.53% 3.79% 3.93% 4.00% 3.97%

2021 2022 2023 2024 2025 Q1'26 Q2'26 Q3'26

65.8%

62.3%

60.0%

58.2%

56.2%

60.1%

57.7%

59.3%

2021 2022 2023 2024 2025 Q1'26 Q2'26 Q3'26

0.27% 0.26%

0.31%

0.28%

0.30%

0.26%

0.31%

0.27%

2021 2022 2023 2024 2025 Q1'26 Q2'26 Q3'26

2.00%

2.28% 2.29% 2.12% 2.20% 2.42% 2.39% 2.41%

2021 2022 2023 2024 2025 Q1'26 Q2'26 Q3'26

11.28%¹

17.41%²

13.59%² 13.00%² 12.76%² 12.42%²

2021 2022 2023 2024 2025 Q1'26 Q2'26 Q3'26

10.54%¹

16.51%²

12.83%² 12.19%² 11.95%² 11.64%²

2021 2022 2023 2024 2025 Q1'26 Q2'26 Q3'26

Tier 1 Capital Ratio (%) Total Capital Ratio (%)

Tangible Common Equity / Tangible Assets (%) Leverage Ratio (%)

Capital Ratios

1) Financials reflect indicative bank level call report data

2) Financials reflect indicative regulatory holding company data

• Note: “NR” stands for “Not Reported” denoting the Bank’s election into the

Community Bank Leverage Ratio framework; See Appendix for reconciliation of non-GAAP financial metrics

NR NR NR NR

11.16%²

9.54%²

16.70%²

14.82%²

11.85%² 11.27%² 10.94%² 10.82%²

2021 2022 2023 2024 2025 Q1'26 Q2'26 Q3'26

11.23%¹ 10.49%¹

17.71%²

15.29%²

13.28%²

11.68%² 11.26%² 11.25%²

2021 2022 2023 2024 2025 Q1'26 Q2'26 Q3'26

Loan Portfolio & Asset Quality

Commercial Real

Estate

34.01%

1-4 Family including

HELOCs

21.10%

Commercial &

Industrial

16.78%

Construction &

Development

12.49%

Multifamily

8.63%

Warehouse

3.51%

Consumer

3.48%

Note: Loan composition reflects regulatory holding company data

Diversified Loan Portfolio

Q3’26 Yield on Loans: 6.66%

$6.77B

Q3’26 Total

21 Loan balances above are not shown net of deferred fees

Loan Portfolio Stats – September 30, 2026

Loan Type Balance Wtd. Avg.

Rate

Wtd. Avg.

Maturity

(Yrs)

Fixed

Rate (%)

Variable

Rate (%)

Commercial

Real Estate

$2,304,739 6.38% 9.1 18.0% 82.0%

1-4 Family (incl.

HELOCs)

$1,429,780 5.36% 26.0 41.9% 58.1%

C&I $1,137,411 7.09% 7.1 28.2% 71.8%

Construction $846,453 7.50% 5.0 18.7% 81.3%

Multi-family $584,967 5.97% 14.9 3.3% 96.7%

Mortgage

Warehouse $238,098 6.43% 0.1 0.0% 100.0%

Consumer $235,761 8.79% 10.7 97.9% 2.1%

Total Loans $6,777,209 6.49% 12.1 27.5% 72.5%

Mortgage Warehouse Portfolio Overview

• Our $238.1 million mortgage warehouse lending portfolio, acquired from BankProv, consists of

facility lines to non-bank mortgage origination companies (“originators”).

o It is a national platform with relationships across the United States that offers Master

Repurchase Agreement facilities (“Facilities”) to independent originators, which allow them to

fund the closing of residential mortgage loans.

o Each Facility advance is fully collateralized, typically by a security interest in one- to four-family

residential mortgage loans and is further enhanced by deposit balances.

o The primary source of repayment of the facilities is the sale of the underlying mortgage loans to

outside investors, which typically occurs within 15 days, except for construction-to-permanent

loans, which generally take longer to sell due to the nature of the loan. These investors can

include Federal National Mortgage Association/Federal Home Loan Mortgage Corporation and

Government National Mortgage Association, as well as other large financial institutions.

• The credit risk associated with this type of lending is the risk that the originators are unable to sell

the loans, which is very low. The entire portfolio is current as of September 30, 2026.

• We approve facilities to originators by conducting a thorough due diligence review of the originator

and its ownership to assess their financial liquidity and regulatory risk profiles. We use a proprietary,

risk-based scoring model to underwrite the companies, which correlates to our internal loan risk

rating system and continually monitor originators’ performance through both internal and external

financial management and quality reviews.

Enterprise Value (“EV”) Portfolio

• Our C&I portfolio as of September 30, 2026, includes a $95.9 million EV portfolio, acquired from

BankProv. The EV portfolio consists of loans and lines to entities collateralized by the cash flows and

underlying enterprise value of the borrowing entity.

• This portfolio has loans across the country and is geographically disperse.

• The balance of this portfolio as of the date of the BankProv acquisition was $207.0 million. The

portfolio has paid down $111.1 million in the short time since acquisition through September 30,

2026.

• The purchased-credit deteriorated EV loans charged off since acquisition amounted to $16.4

million and the Bank had $17.2 million in specific reserves against the charged-off loans.

• The credit risk associated with this type of lending is the risk that the cash flows of the entity

significantly decrease and do not provide for the ability to repay the remaining balance of the loan.

• Management monitors this portfolio very closely and has been in close contact with all of the

borrowing entities since acquisition.

• Of the $42.3 million of purchased-credit-deteriorated fair value credit marks recorded at acquisition,

$31.2 million related to the EV portfolio with $13.7 million remaining.

Service

53%

Trade

Contractors

21%

Manufacturing

12% Healthcare

13%

Retail /

Wholesale

EV By Type

Overview of EV Portfolio

$95.9M

Q3’26 Total

EV Balance Trend

2025 - Q4

187,691

2026 - Q1

159,115

2026 - Q2

129,627

2026 - Q3

95,865

90,000

110,000

130,000

150,000

170,000

190,000

210,000

2025 - Q4 2026 - Q1 2026 - Q2 2026 - Q3

Construction & Development / Total Indicative Risk-Based Capital (%)¹

Commercial Real Estate / Total Indicative Risk-Based Capital (%)¹

Loan Portfolio Concentrations

1) Financials reflect regulatory holding company data

280% 277%

342%

187% 202%

294% 318% 314% 344%

2020 2021 2022 2023 2024 2025 Q1'26 Q2'26 Q3'26

125% 129% 144%

79% 72% 89% 97% 94% 101%

2020 2021 2022 2023 2024 2025 Q1'26 Q2'26 Q3'26

Multi-Family, 27%

Office, 15%

Hospitality

14%

Mixed Use 11%

Industrial, 8%

Retail,

Other, 15% Cannabis Facility,

25%

Retail Industrial, 26%

17%

Special Purpose

11%

Office

Other, 15%

Owner-Occupied CRE By Collateral Type Non-Owner-Occupied CRE By Collateral Type

Commercial Real Estate Portfolio

$751M

Q3’26 Total

$2.14B

Q3’26 Total

Non-Owner-Occupied - Office

69% Non-Owner-Occupied - Medical

Office

14%

Owner-Occupied - Office 8%

Other 9%

1) Includes commercial real estate and construction office loans

Office Portfolio Overview¹

Our $388.1 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.

$388M

Q3’26 Total

Office Portfolio as of 9/30/2026

Weighted Average

Rate

Weighted Average

Maturity (Yrs)

Weighted Average

LTV

Weighted Average

DSCR

6.07% 7.36 53.2% 1.74X

Chicago, IL

15%

Boston

Newport Beach, CA

New York, NY

Other

63%

Structured

Finance

26%

Middle Market

17%

Renewable

Energy

16%

Cannabis

14%

Cannabis Bridge Financing

11%

Bridge Financing

Small Business /

Other 11%

C&I By Type C&I By Geography

Overview of C&I Portfolio

$1.14B

Q3’26 Total

$1.14B

Q3’26 Total

Boston, MA

19%

Weston, MA

Milton,

Salem,

Needham, MA

Cambridge,

Other

50%

Condos

27%

Land

16%

Multi-Family

12%

Single

Family

10%

Hotel/Motel

Other

28%

Construction By Type Construction By Geography

Overview of Construction Lending

$846M

Q3’26 Total

$846M

Q3’26 Total

Consumer Loans Overview

• Amounts above exclude purchased premiums or discounts

Loan Type Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026

Purchased:

Solar $ 45,678 $ 44,410 $ 43,080 $ 41,150 $ 39,398

Loans Held for Sale - Boat Loans - 63,447 63,971 59,927 55,906

Boat Loans 42,487 238 - - -

Home Improvement 37,753 35,832 34,084 32,426 30,480

Student Loans 5,768 5,455 5,029 4,702 4,436

Total Purchased Balance (incl.

LHFS) $ 131,686 $ 149,382 $ 146,164 $ 138,205 $ 130,220

Originated:

Auto Loans $ 68,307 $ 75,560 $ 82,167 $ 88,735 $ 94,422

Boat Loans 57,570 35,967 41,228 51,653 57,130

Other 5,696 6,035 5,773 6,537 8,186

Total Originated Balance $ 131,573 $ 117,562 $ 129,168 $ 146,925 $ 159,738

Net Charge Offs - Purchased

(3ME) $458 $1,130 $385 $1,965 $1,141

Net Charge Offs - Originated

(3ME) $144 $8 $636 $20 $2

Consumer Loans Trends

$500

$1,000

$1,500

$2,000

$2,500

$3,000

$20,000

$40,000

$60,000

$80,000

$100,000

$120,000

$140,000

$160,000

$180,000

Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026

Balance (thousands)

Period

Overview of Purchased Consumer Loans

Net Charge Offs - Purchased (3ME) Net Charge Offs - Originated (3ME) Total Purchased Balance (incl. LHFS) Total Originated Balance

Cannabis Business Highlights

• As of September 30, 2026, we had outstanding loan balances of $576.3 million to cannabis

businesses:

• $401.3 million was direct to cannabis entities;

• $175.0 million was indirect to cannabis entities;

• Weighted average LTV and DSCR was 46.8% and 3.22, respectively; and,

• 74.37% of the total outstanding loans were collateralized by real estate, including 100% of the

direct cannabis loans

• As of September 30, 2026, the Company had $575.1 million in cannabis deposits

• $427.5 million in cannabis-direct and $147.6 million in cannabis-indirect

Cannabis Business Loans ($M) Cannabis Business Deposits ($M)

61.8% 56.5%

68.8% 69.0% 69.6%

38.2% 43.5%

31.2%

31.0% 30.4%

09/2025 12/2025 03/2026 06/2026 09/2026

Cannabis Direct Cannabis Indirect

$408.9M

$466.8M $455.6M

$522.1M

$575.1M

09/2025 12/2025 03/2026 06/2026 09/2026

$6.0 $13.0 $10.8 $13.9 $7.5 $15.3 $13.2 $12.8

$35.9

$30.3 $14.5 $23.3

$4.5 $8.3

$0.0

2021 2022 2023 2024 2025 Q1'26 Q2'26 Q3'26

NBBK Nonaccruals ($M) BankProv Nonaccruals ($M) TDRs ($M) OREO ($M)

0.87% 0.83% 0.83% 0.89%

1.46%

1.29%

1.28% 1.16%

175%

117%

298% 280%

201% 176%

297%

217%

0.0%

100.0%

200.0%

300.0%

400.0%

0.50%

1.00%

1.50%

2.00%

2021 2022 2023 2024 2025 Q1'26 Q2'26 Q3'26

Reserves / Loans Reserves / NPLs Reserves / Loans (%) & Reserves / NPLs (%)

NPA Trends

Asset Quality

1) Financials reflect bank level call report data

2) Financials reflect regulatory holding company data

NPAs / Assets 0.36%¹ 0.56%¹ 0.24%¹ 0.27%²

0.62%² 0.63%² 0.37%² 0.48%²

34 1) Reflects annualized metrics

• Note: Values may not sum due to rounding

Historically Strong Credit Culture

NCOs / Average Loans (%)¹

• Our loan portfolio consists primarily of commercial real estate and multifamily loans, one-to four-family

residential real estate loans, construction and land development loans, commercial and industrial loans,

mortgage warehouse 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.

• For the quarter ended September 30, 2026, the Company’s NCOs / Average Loans were

primarily composed of a $4.0 million charge off on an acquired purchased-credit-deteriorated C&I loan

and charge offs on purchased consumer loans.

0.16

0.00

0.10

0.22 0.18

0.91

0.07

0.3

2021 2022 2023 2024 2025 Q1'26 Q2'26 Q3'26

Funding & Liquidity Management

Savings &

MMDA

Transaction 31%

27%

Jumbo CDs

23%

Brokered CDs

11%

Retail CDs

• Note: Deposit composition reflects regulatory holding company data

Balanced Deposit Base

Q3’26 Cost of Deposits: 2.69%

$6.52B

Q3’26 Total

37 • Note: Deposit composition reflects regulatory holding company data

Support of Strong Deposit Base

Cost of Deposits

1.03%

0.43% 0.48%

2.34%

3.28% 2.96% 2.73% 2.68% 2.69%

0.00%

2.00%

4.00%

6.00%

2020 2021 2022 2023 2024 2025 Q1'26 Q2'26 Q3'26

Balance WAR Balance WAR Balance ($) Balance (%) WAR

Noninterest-bearing demand deposits $997,190 0.00% $952,306 0.00% $44,884 4.71% 0.00%

Savings accounts 220,804 1.01% 212,936 0.65% 7,868 3.70% 0.36%

NOW accounts 769,643 0.19% 754,574 0.19% 15,069 2.00% 0.00%

Money market accounts 1,777,625 3.07% 1,666,729 3.04% 110,896 6.65% 0.03%

Customer CDs 2,063,497 3.87% 2,014,693 3.87% 48,804 2.42% 0.00%

Brokered CDs 692,637 4.00% 718,852 3.97% (26,215) -3.65% 0.03%

$6,521,396 2.57% $6,320,090 2.55% $201,306 3.19% 0.02%

9/30/2026 6/30/2026 Change

($ in Thousands)

38 • Note: Deposit composition reflects regulatory holding company data

Certificates of Deposit Maturities

Time Deposit Maturities ($M)

Brokered Deposit Maturities ($M)

3.82%

3.89%

3.90%

3.87%

3.97%

$200

$400

$600

$800

12/2026 03/2027 06/2027 09/2027 12/2027

3.92%

4.12%

0.00% 0.00% 0.

12/2026 03/2027 06/2027 09/2027 12/

U.S.

Treasuries

33%

Mortgage-Backed

Securities

38%

Corporate

Bonds

20%

Other

Overview of Securities Portfolio

$279.5M

Q3’ 26 Total

Q3’ 26 Yield on Securities: 4.45%

Interest Rate Sensitivity

At September 30, 2026

Change in Interest Rates Net Interest Income Year 1 Change

(bps) Year 1 Forecast ($000) From Level

+300 $313,603 6.8%

+200 $307,671 4.8%

+100 $301,449 2.6%

-- $293,698 --

(100) $285,737 (2.7%)

(200) $280,513 (4.5%)

(300) $276,082 (6.0%)

FHLB Advances

3.8%

Brokered Deposits

17.6%

FHLB Unused Borrowing

Capacity

17.9%

FED Available Borrowing

Capacity

29.4%

Capacity for Additional Brokered

Deposits

31.2%

% of Total Liquidity

Prudent Liquidity Management

As of September 30, 2026, the Company had:

• $150.3 million of outstanding advances from the Federal

Home Loan Bank of Boston (“FHLBB”)

• $692.6 million of brokered deposits

• $705.0 million of unused borrowing capacity with the

FHLBB

• $1.2 billion available with the Federal Reserve Bank’s

Borrower-in-Custody Program.

• $1.2 billion of additional capacity for brokered deposits,

pursuant to internal liquidity policy stating that brokered

deposits can be up to 25.0% of total assets

78.5%

unused

capacity

Appendix

Notes and Reconciliation of U.S. GAAP

and 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 pre-provision net revenue, operating net income, operating pre-tax income, net interest margin, excluding purchase accounting adjustments, 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, tangible book value per share, operating noninterest income to average assets

and operating noninterest expense to average assets. 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.

1) These amounts are reflected in income tax expense and reflect amounts related to

current year compensation and a write-down for future LTIP vesting amounts that are

not expected to be tax deductible on a tax return. These amounts are not included in

the calculation of the tax benefit associated with non-GAAP adjustments.

$ in thousands 2021 2022 2023 2024 2025 Q1 2026 Q2 2026 Q3 2026

Return on Average Tangible Common Equity:

Net Income $21,575 $30,065 $9,825 $42,149 $50,302 $14,984 $21,123 $23,133

Adjustments to Net Income:

Contract settlement fees -- -- -- -- -- -- -- 871

Merger and acquisition costs -- -- -- -- 17,265 534 296 --

Non-recurring fees for business line expansion -- -- -- -- -- 500 649 --

Needham Bank Charitable Foundation Contribution Resulting from IPO -- -- 19,082 -- -- -- -- --

One-Time Conversion and IPO-Related Expenses -- -- 7,931 -- -- -- -- --

Defined Benefit Pension Termination Expense (Refund), net -- -- 1,900 390 480 -- -- --

Permanent Tax Differences Resulting from Public Company Tax Laws¹ -- -- 3,680 -- -- -- -- --

Losses on sales of securities available for sale, net -- -- -- 1,868 -- -- -- --

BOLI surrender tax and managed endowment contract penalty -- -- -- 1,705 2,310 50 27 --

State tax expense - voluntary disclosure agreements -- -- -- -- 561 -- -- --

Total Adjustments to Net Income -- -- $32,593 $3,963 $20,616 $1,084 $972 $871

Less: Net tax benefit associated with pre-tax non-GAAP adjustments to net

income -- -- 8,096 634 4,739 277 218 176

Non-GAAP Adjustments, net of tax -- -- 24,497 3,329 15,877 807 754 695

Operating net income (Non-GAAP) $21,575 $30,065 $34,322 $45,478 $66,179 $15,791 $21,877 $23,828

Average Shareholders' Equity $316,723 $331,872 $365,120 $746,332 $758,284 $861,505 $844,443 $855,206

Less: Average Intangible Assets -- 689 1,302 1,153 16,947 32,441 31,545 29,919

Average Tangible Shareholders' Equity (Non-GAAP) $316,723 $331,184 $363,818 $745,179 $741,337 $829,064 $812,898 $825,287

ROATCE (Annualized Adjusted Net Income / Average Tangible Shareholders'

Equity) 6.81% 9.08% 9.43% 6.10% 8.93% 7.72% 10.79% 11.45%

Notes and Reconciliation of U.S. GAAP and Non-GAAP

Financial Measures (Cont.)

net revenue, operating net income, operating pre-tax income, net interest margin, excluding purchase accounting adjustments, 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, tangible book value per share, operating noninterest income to average assets and operating noninterest expense to average assets. 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.

$ in thousands 2021 2022 2023 2024 2025 Q1 2026 Q2 2026 Q3 2026

Operating pre-tax income (non-GAAP):

Pre-tax income (GAAP) $27,632 $36,388 $11,844 $58,619 $71,131 $20,352 $27,494 $29,018

Add (Subtract):

Contract settlement fees -- -- -- -- -- -- -- 871

Merger and acquisition costs -- -- -- -- 17,265 534 296 --

Non-recurring fees for business line expansion -- -- -- -- -- 500 649 --

Needham Bank Charitable Foundation Contribution Resulting from IPO -- -- 19,082 -- -- -- -- --

One-Time Conversion and IPO-Related Expenses -- -- 7,931 -- -- -- -- --

Defined Benefit Pension Termination Expense (Refund), net -- -- 1,900 390 480 -- -- --

Losses on sales of securities available for sale, net -- -- 3,680 -- -- -- -- --

Operating pre-tax income (non-GAAP) 27,632 36,388 44,437 59,009 88,876 21,386 28,439 29,889

Operating Return on Average Assets (Non-GAAP):

Operating net income (Non-GAAP) 21,575 30,065 34,322 45,478 66,179 15,791 21,877 23,828

Average Assets 2,793,333 3,118,890 3,973,093 4,786,379 5,458,675 6,975,068 7,241,524 7,474,341

Operating Return on Average Assets (Non-GAAP) 0.77% 0.96% 0.86% 0.95% 1.21% 0.92% 1.21% 1.26%

Operating Return on Average Shareholders' Equity (Non-GAAP):

Operating net income (Non-GAAP) 21,575 30,065 34,322 45,478 66,179 15,791 21,877 23,828

Average Shareholders' Equity 316,723 331,872 365,120 746,332 758,284 861,505 844,443 855,206

Operating Return on Average Shareholders' Equity (Non-GAAP) 6.81% 9.06% 9.40% 6.09% 8.73% 7.43% 10.39% 11.05%

Tangible Shareholders' Equity / Tangible Assets (Non-GAAP):

Shareholders' Equity $326,129 $344,065 $757,959 $765,167 $858,932 $842,778 $842,002 $857,403

Less: Intangible Assets -- 1,377 1,227 1,079 32,815 32,067 31,023 28,814

Tangible Shareholders' Equity (Non-GAAP) $326,129 $342,688 $756,732 $764,088 $826,117 $810,711 $810,979 $828,589

Total Assets $2,922,671 $3,595,335 $4,533,412 $5,157,737 $7,006,130 $7,226,437 $7,446,880 $7,683,996

Less: Intangible Assets -- 1,377 1,227 1,079 32,815 32,067 31,023 28,814

Tangible Assets (Non-GAAP) $2,922,671 $3,593,958 $4,532,185 $5,156,658 $6,973,315 $7,194,370 $7,415,857 $7,655,182

Tangible Shareholders' Equity / Tangible Assets (TSE / TA) (Non-GAAP) 11.16% 9.54% 16.70% 14.82% 11.85% 11.27% 10.94% 10.82%

Notes and Reconciliation of U.S. GAAP

and Non-GAAP Financial Measures (Cont.)

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, tangible book value per share, operating noninterest income to average assets and operating noninterest expense to average assets. 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.

$ in thousands 2021 2022 2023 2024 2025 Q1 2026 Q2 2026 Q3 2026

Efficiency Ratio:

Net Interest Income $78,011 $104,964 $130,057 $161,198 $197,457 $64,868 $69,145 $71,440

Noninterest Income 8,654 9,275 15,577 11,532 16,200 4,513 5,559 5,105

Total Income $86,665 $114,239 $145,634 $172,730 $213,657 $69,381 $74,704 $76,545

Net interest income $78,011 $104,964 $130,057 $161,198 $197,457 $64,868 $69,145 $71,440

Adjustments to Net Interest Income:

Purchase accounting adjustments -- -- -- -- -- (1,623) (1,972) (2,614)

Net interest income, net of purchase accounting adjustments (non-GAAP) $78,011 $104,964 $130,057 $161,198 $197,457 $63,245 $67,173 $68,826

Noninterest Income $8,654 $9,275 $15,577 $11,532 $16,200 $4,513 $5,559 $5,105

Adjustments to Noninterest Income:

Losses on sales of securities available for sale, net -- -- -- 1,868 -- -- -- --

Operating Noninterest Income (Non-GAAP) $8,654 $9,275 $15,577 $13,400 $16,200 $4,513 $5,559 $5,105

Noninterest Expense $56,983 $71,151 $119,905 $101,989 $137,873 $42,701 $44,017 $46,281

Adjustments to Noninterest Expense:

Contract settlement fees -- -- -- -- -- -- -- 871

Merger and acquisition costs -- -- -- -- 17,265 534 296 --

Non-recurring fees for business line expansion -- -- -- -- -- 500 649 --

Needham Bank Charitable Foundation Contribution Resulting from IPO -- -- 19,082 -- -- -- -- --

One-Time Conversion and IPO-Related Expenses -- -- 7,931 -- -- -- -- --

Defined Benefit Pension Termination Expense -- -- 1,900 390 480 -- -- --

Reversal of previously taken amortization of solar tax credit investments -- -- 3,680 -- -- -- -- --

Operating Noninterest Expense (Non-GAAP) $56,983 $71,151 $87,312 $101,599 $120,128 $41,667 $43,072 $45,410

Operating Efficiency Ratio (Non-GAAP) 65.8% 62.3% 60.0% 58.2% 56.2% 60.1% 57.7% 59.3%

Notes and Reconciliation of U.S. GAAP

and Non-GAAP Financial Measures (Cont.)

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, tangible book value per share, operating noninterest income to average assets and operating noninterest expense to average assets. 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.

$ in thousands 2021 2022 2023 2024 2025 Q1 2026 Q2 2026 Q3 2026

Operating effective tax rate (non-GAAP):

Income tax expense (GAAP) $6,057 $6,323 $2,019 $16,470 $20,829 $5,368 $6,371 $5,885

Add (Subtract):

Permanent Tax Differences Resulting from Public Company Tax Laws¹ -- -- 3,680 -- -- -- -- --

BOLI surrender tax and modified endowment contract penalty -- -- -- (1,705) (2,310) (50) (27) --

State tax expense - voluntary disclosure agreements -- -- -- -- (561) -- -- --

Net tax benefit associated with pre-tax non-GAAP adjustments to net

income -- -- 8,096 634 4,739 277 218 176

Total impact of non-GAAP income tax expense adjustments -- -- 11,776 (1,071) 1,868 227 191 176

Income tax expense on an operating basis (non-GAAP) $6,057 $6,323 $13,795 $15,399 $22,697 $5,595 $6,562 $6,061

Operating effective tax rate (non-GAAP) 21.9% 17.4% 31.0% 26.1% 25.5% 26.2% 23.1% 20.3%

Operating Noninterest Income to Average Assets (Non-GAAP)

Operating Noninterest Income (Non-GAAP) 8,654 9,275 15,577 13,400 16,200 4,513 5,559 5,105

Average Assets $2,793,333 $3,118,890 $3,973,093 $4,786,379 $5,458,675 $6,975,068 $7,241,524 $7,474,341

Operating Noninterest Income to Average Assets (Non-GAAP) 0.31% 0.30% 0.39% 0.28% 0.30% 0.26% 0.31% 0.27%

Operating Noninterest Expense to Average Assets (Non-GAAP)

Operating Noninterest Expense (Non-GAAP) 56,983 71,151 87,312 101,599 120,128 41,667 43,072 45,410

Average Assets $2,793,333 $3,118,890 $3,973,093 $4,786,379 $5,458,675 $6,975,068 $7,241,524 $7,474,341

Operating Noninterest Expense to Average Assets (Non-GAAP) 2.04% 2.28% 2.20% 2.12% 2.20% 2.42% 2.39% 2.41%

Executive Management Biographies

Joseph

Campanelli

Chairman,

President & CEO

Christine

Roberts

SEVP & Chief

Operating Officer

Lapointe

SEVP & Chief

Financial Officer

Mr. Campanelli has served as President and Chief Executive Officer of Needham Bank since joining the Bank in

January 2017 and was elected Chairman in 2022. Mr. Campanelli has over 40 years of banking experience in a

variety of senior and executive positions, including having served as the President and Chief Executive Officer of

Sovereign Bancorp, Inc. and its subsidiary Sovereign Bank as well as Chairman, President and Chief Executive

Officer of Flagstar Bancorp, Inc. and its subsidiary Flagstar Bank. Additionally, Mr. Campanelli has a long history of

community involvement, currently serving on the board of the Massachusetts Business Roundtable, Boys and Girls

Club of Boston and The One Hundred Club of Boston.

Ms. Roberts is Senior Executive Vice President and Chief Operating Officer of Needham Bank, a position she has held

since January 2025 when she joined Needham Bank. Prior to this, Ms. Roberts was Executive Vice President of

Citizens Pay at Citizens Bank since April 2022. Ms. Roberts had been employed at Citizens Bank since August 2012,

where she held positions of increasing responsibility across the institution.

Mr. Lapointe is Senior Executive Vice President and Chief Financial Officer, a position he has held since February

2024. Prior to this, Mr. Lapointe was the Chief Financial Officer of Northeast Bank from November 2017 until

February 2024. Prior to joining Northeast Bank, Mr. Lapointe served as a Senior Audit Manager at Wolf & Company,

P.C. in its external and internal audit practices, with a focus on the financial services sector from 2004 to 2017. Mr.

Lapointe is a certified public accountant registered in the Commonwealth of Massachusetts.

Kevin

Henkin

EVP & Chief

Credit Officer

Mr. Henkin is Executive Vice President and Chief Credit Officer of Needham Bank, a position he has held since April

2018. In this role, Mr. Henkin has primary responsibility for managing all aspects of the credit risk management

framework over the Bank’s lending operations. Mr. Henkin has over 30 years of banking experience, having served

at other financial institutions as well as running a bank consulting firm for three years at which Mr. Henkin

conducted external loan reviews, stress testing and due diligence for financial institutions.

Thank You

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Document and Entity Information

Oct. 15, 2026

Document and Entity Information [Abstract]

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Oct. 15, 2026

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NB BANCORP, INC.

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001-41899

Entity Tax Identification Number

93-2560883

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1063 Great Plain Avenue

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Needham

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02492

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781

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444-2100

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