Core Viewpoint - NB Bancorp, Inc. reported strong financial performance in Q2 2025, with record earnings and a focus on growth strategies, including a pending acquisition of Provident Bancorp, Inc. [1][2] Financial Performance - Net income for Q2 2025 was $14.6 million, or $0.39 per diluted common share, up from $12.7 million, or $0.33 per diluted common share in the previous quarter [1][4] - Operating net income, excluding one-time charges, was $15.0 million, or $0.40 per diluted common share, compared to $13.7 million, or $0.35 per diluted common share in the prior quarter [1][4] - Net interest income increased by $3.5 million, or 8.0%, to $47.0 million for the quarter [6][20] - Noninterest income rose to $4.2 million, an increase of $317 thousand, or 8.2% [8][20] - Total revenue for the quarter was $51.2 million, compared to $47.4 million in the previous quarter [20] Balance Sheet Highlights - Total assets decreased by $15.6 million, or 0.3%, to $5.23 billion as of June 30, 2025 [5][21] - Total loans increased by $76.7 million, or 1.7%, to $4.54 billion [9][20] - Total deposits decreased by $58.6 million, or 1.4%, to $4.27 billion [9][20] - Shareholders' equity decreased by $2.5 million, or 0.3%, to $737.1 million [9][20] Loan and Deposit Trends - Gross loans increased primarily in construction and land development loans, which rose by $77.9 million, or 12.1% [9][18] - Core deposits remained relatively flat, decreasing by $3.5 million, or 0.1% [9][20] - Brokered deposits decreased by $55.1 million, or 17.8% [9][20] Credit Quality - Provision for credit losses increased by $2.0 million, or 173.0%, to $3.2 million [7][20] - Non-performing loans totaled $12.5 million, an increase of $1.1 million, or 9.7% from the previous quarter [18][20] - The allowance for credit losses amounted to $42.6 million, or 0.94% of total loans [18][20] Shareholder Actions - The Board of Directors declared a quarterly cash dividend of $0.07 per share, payable on August 20, 2025 [3] - Over 1.1 million shares were repurchased at an average price of $17.08, enhancing shareholder value [2][9] Future Outlook - The company anticipates closing and converting the acquisition of Provident Bancorp in Q4 2025, aiming for continued growth [2][9] - The effective tax rate decreased to 22.1% from 28.0% in the prior quarter, primarily due to solar tax credits [11][12]