Business
NB Bancorp, Inc. Announces Commencement of Additional Share Repurchase Plan
NEEDHAM, Mass., May 7, 2025 /PRNewswire/ -- NB Bancorp, Inc. (the "Company") (Nasdaq Capital Market: NBBK), the holding company of Needham Bank (the "Bank"),
About this update from Nb Bancorp, Inc.
[{"type":"text","content":"NEEDHAM, Mass., May 7, 2025 /PRNewswire/ -- NB Bancorp, Inc. (the \"Company\") (Nasdaq Capital Market: NBBK), the holding company of Needham Bank (the \"Bank\"), today announced that it has adopted a stock repurchase plan for up to 2,028,522 shares of the Company's common stock, which equals approximately 5.0% of the shares currently outstanding. This is the Company's second stock repurchase plan since completing its mutual-to-stock conversion and related stock offering in December 2023.\n\n \n \n \n \n \n \n\n \n\"Given the strong earnings stream that the Company has been able to generate since we went public at the end of 2023, we are extremely happy to be able to provide returns to our shareholders in several ways, through continued earnings and through share repurchases. We look forward to continue sharing in the Company's success with shareholders as we continue to grow market share,\" commented Joseph Campanelli, Chairman, President and Chief Executive Officer.\nSHARE REPURCHASE PLANThe Company announced today that it has adopted a share repurchase plan for up to 2,028,522 shares of common stock, which equals approximately 5.0% of the shares currently issued and outstanding. \nShares may be repurchased in open market or private transactions, through block trades, or pursuant to any trading plan that may be adopted in accordance with Rule 10b5-1 of the Securities and Exchange Commission (the \"SEC\").Repurchases will be made at management's discretion at prices management considers to be attractive and in the best interests of both the Company and its shareholders, subject to the availability of shares, general market conditions, the trading price of the stock, alternative uses for capital, and the Company's financial performance. Open market purchases may be subject to the limitations set forth in Rule 10b-18 of the SEC and other applicable legal requirements.The timing and amount of share repurchases under the share repurchase plan may be suspended, terminated or modified by the Company at any time for any reason, including market conditions, the cost of repurchasing shares, the availability of alternative investment opportunities, liquidity, and other factors deemed appropriate. These factors may also affect the timing and amount of share repurchases. The Company is not obligated to repurchase any particular number of sh...