Prnewswire·2025-10-22 21:39Core Viewpoint - NB Bancorp, Inc. reported strong financial performance in Q3 2025, with net income increasing to $15.4 million, driven by growth in loans and deposits, despite a slight decline in net interest margin [1][2][4]. Financial Performance - Net income for Q3 2025 was $15.4 million, or $0.43 per diluted common share, up from $14.6 million, or $0.39 per diluted common share in the previous quarter [1][4]. - Operating net income, excluding one-time charges, was $16.0 million, or $0.45 per diluted common share, compared to $15.0 million, or $0.40 per diluted common share in the prior quarter [1][4]. - Net interest income increased to $48.2 million, a rise of $1.2 million, or 2.5%, from the previous quarter [6][20]. - Noninterest income decreased to $3.6 million, down $627 thousand, or 15.0%, from the prior quarter [8][20]. Balance Sheet Highlights - Total assets reached $5.44 billion, an increase of $215.8 million, or 4.1%, from June 30, 2025 [5][20]. - Total loans increased by $175.0 million, or 3.9%, to $4.72 billion [9][20]. - Total deposits rose by $297.6 million, or 7.0%, to $4.57 billion [9][20]. - Cash and cash equivalents increased by $36.7 million, or 14.2%, to $295.4 million [9][20]. Loan and Deposit Growth - Loans and deposits grew at annualized rates of 15.4% and 27.9%, respectively, during the third quarter [2]. - The loan-to-deposit ratio improved from 106% to 103% quarter over quarter [2]. Acquisition and Strategic Outlook - The company anticipates closing the acquisition of Provident Bancorp, Inc. in Q4 2025, which is expected to enhance growth opportunities [2][19]. - Merger and acquisition costs for the current quarter were $994 thousand, related to the Provident acquisition [9][20]. Asset Quality and Credit Losses - Provision for credit losses decreased by $1.8 million, or 55.8%, to $1.4 million for the current quarter [7][20]. - Non-performing loans totaled $11.4 million, a decrease of $1.1 million, or 9.0%, from the previous quarter [18][20]. Shareholder Returns - The Board of Directors declared a quarterly cash dividend of $0.07 per share, payable on November 19, 2025 [3].