NB Bancorp reports increased second quarter profit, declares dividend

NB Bancorp, Inc. (Nasdaq Capital Market: NBBK), the holding company for Needham Bank, reported its financial results for the second quarter of 2026. The company posted net income of $21.1 million, or $0.53 per diluted common share, a notable increase from the $15.0 million, or $0.36 per diluted common share, reported in the prior quarter. Return on average assets improved to 1.17% and return on average equity rose to 10.03%.

Operating net income also saw a substantial rise of 38.5%, reaching $21.9 million, or $0.55 per diluted common share, compared to $15.8 million, or $0.38 per diluted common share, in the first quarter. This growth was supported by a 3.4% increase in total loans and a 3.7% increase in total deposits during the quarter. The net interest margin expanded by 7 basis points to 4.00%, and the efficiency ratio improved to 58.92%.

Credit quality metrics showed significant improvement, with annualized net charge-offs as a percentage of average loans declining to 0.07% from 0.91% in the previous quarter. Non-performing loans as a percentage of total loans decreased to 0.43% from 0.73% at the end of the prior quarter. The company cited targeted investments in artificial intelligence and automation tools aimed at enhancing efficiency and scalability.

In addition to the financial results, the Board of Directors declared a quarterly cash dividend of $0.07 per share. This dividend is payable on August 19, 2026, to shareholders of record as of August 5, 2026.