Nb Bancorp, Inc. · NASDAQ:NBBK
Nb Bancorp — Performance Trust Capital Connect (May 2026)
47 slides from Nb Bancorp's conference presentation, May 21, 2026
Slide 1: Performance Trust Capital Connect, June 2, 2026
1 June 2, 2026 Performance Trust Capital Connect
Slide 2: Forward Looking Statements
2 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 b
Slide 3: NB Bancorp, Inc. Overview
NB Bancorp, Inc. Overview LU) NBBa
Slide 4: Overview of NB Bancorp, Inc.
4 Overview of NB Bancorp, Inc. 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 e
Slide 5: Performance Post-IPO
5 Performance Post -IPO 5 1) See Appendix for reconciliation of non-GAAP financial metrics • Asset Growth in $M +40.1% • Deposits in $M +40.7% • Operating EPS1 +46.2% • Net Interest Margin YTD +13.2% • Operating ROAA1 +6.4% • Share Price +110.7% $4,333 $6,097 IPO Q1'26 $5,158 $7,226 IPO Q1'26 $0.26
Slide 6: Well Positioned in Highly Attractive Markets
6 1) Excludes banks with total assets greater than $10 billion; FDIC deposit data as of June 30, 2025 Source: S&P Capital IQ Pro Well Positioned in Highly Attractive Markets Our branch network covers the metro-west area of Boston, southern New Hampshire and surrounding communities which are our prim
Slide 7: Strength of Growing Deposit Base
7 Strength of Growing Deposit Base Over the two-year period ended June 30, 2025, each Needham Bank branch experienced growth that matched or exceeded growth in its respective market. In aggregate, Needham Bank achieved growth at over 5 times the overall market growth during this period. Branch June
Slide 8: Industry Drivers of Local Market
8 Largest Employers Boston MSA 2026-2031 Projected HHI Δ Massachusetts 2024 GDP by Industry Boston MSA Median HHI ($) Industry Drivers of Local Market 1) Other industries include accommodation and food services, waste management and remediation services, educational services, management of companies
Slide 9: Experienced Institutional Leadership
9 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 C
Slide 10: Investment Highlights
10 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 Exc
Slide 11: Financial Highlights for the First Quarter 2026
11 Financial Highlights for the First Quarter 2026 • GAAP Net income of $15.0 million, or $0.36 per diluted share for the quarter. • Operating Net Income1 (Non-GAAP) of $15.8 million, or $0. 38 per diluted share for the quarter. • Gross loans increased $223.8 million, or 3.7%, to $6.21 billion, from
Slide 12: Financial Highlights for the First Quarter 2026 (Continued)
12 Financial Highlights for the First Quarter 2026 (Continued) • Total core deposits increased $209.1 million, or 3.9%, from the prior quarter, to $5.53 billion, primarily driven by growth in money market accounts of $92.3 million, noninterest-bearing demand deposits of $44.6 million, customer certi
Slide 13: Financial Overview
Financial Overview LU) NSB
Slide 14: Targeted Balance Sheet Growth
14 Total Deposits ($M) Tangible Common Equity ($M) Total Assets ($M) Total Gross Loans ($M) Targeted Balance Sheet Growth 14 $2,923 $3,592 $4,533 $5,158 $7,001 $7,226 2021 2022 2023 2024 2025 Q1'26 $2,105 $3,015 $3,889 $4,333 $5,986 $6,210 2021 2022 2023 2024 2025 Q1'26 $2,565 $2,887 $3,387 $4,178 $
Slide 15: Track Record of Strong Performance
15 Operating Return on Avg. Tangible Common Equity (%)1, 2 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 ’26 operating net income
Slide 16: Track Record of Strong Performance (Cont.)
16 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 16 65.8% 62.3% 60.0% 58.2% 56.
Slide 17: Capital Ratios
17 11.28%¹ 17.41%² 13.59%² 13.00%² 2021 2022 2023 2024 2025 Q1'26 10.54%¹ 16.51%² 12.83%² 12.19%² 2021 2022 2023 2024 2025 Q1'26 Tier 1 Capital Ratio (%) Total Capital Ratio (%) Tangible Common Equity / Tangible Assets (%) Leverage Ratio (%) Capital Ratios 1) Financials reflect indicative bank level
Slide 18: Loan Portfolio & Asset Quality
18 Loan Portfolio & Asset Quality
Slide 19: Diversified Loan Portfolio
19 Note: Loan composition reflects regulatory holding company data Diversified Loan Portfolio Q1’26 Yield on Loans: 6.66% $6.22B Q1’26 Total 19 Commercial Real Estate 31% 1-4 Family including HELOCs 22% Commercial & Industrial 18% Construction & Development 13% Multifamily 9% Warehouse 4% Consumer 3
Slide 20: Mortgage Warehouse Portfolio Overview
20 Mortgage Warehouse Portfolio Overview • Our $277.2 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 Maste
Slide 21: Enterprise Value (EV) Portfolio
21 Enterprise Value (“EV”) Portfolio • Our C&I portfolio as of March 31, 2026 includes a $159.1 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 port
Slide 22: Loan Portfolio Stats – March 31, 2026
22 Loan balances above are not shown net of deferred fees Loan Portfolio Stats – March 31, 2026 Loan Type Balance Wtd. Avg. Rate Wtd. Avg. Maturity (Yrs) Fixed Rate (%) Variable Rate (%) Commercial Real Estate $1,924,802 6.08% 9.9 17.2% 82.8% 1-4 Family (incl. HELOCs) $1,341,318 5.27% 25.3 42.0% 58.
Slide 23: Loan Portfolio Concentrations
23 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 23 277% 342% 187% 202% 305% 322% 2021 2022 2023 2024 2025 Q1'26 129% 144% 79%
Slide 24: Commercial Real Estate Portfolio
24 Owner-Occupied CRE By Collateral Type Non-Owner-Occupied CRE By Collateral Type Commercial Real Estate Portfolio $642M Q1’26 Total $1.82B Q1’26 Total 24 Cannabis Facility 32% Industrial Other 20% 14% Special Purpose 14% Retail 8% Office 7% Hospitality 6% Multi - Family 30% Office 15% Hospitality
Slide 25: Needham Bank CRE Loan Examples
25 Loans Needham Bank Makes Loans Needham Bank Doesn’t Make Needham Bank CRE Loan Examples 25
Slide 26: Office Portfolio Overview
26 Office Portfolio Overview • Our $348.2 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. $348M Q1’26 Total 26 Office Portfolio as of 3/31/2026 Weighted
Slide 27: Overview of C&I Portfolio
27 C&I By Type C&I By Geography Overview of C&I Portfolio $1.14B Q1’26 Total $1.14B Q1’26 Total 27 Structured Finance 34% Middle Market 17% Renewable Energy 16% Cannabis 12% Cannabis Bridge Financing 8% Bridge Financing 5% Small Business / Other 9% Chicago, IL 11% Boston 8% Newport Beach, CA 8% Miam
Slide 28: Overview of Construction Lending
28 Construction By Type Construction By Geography Overview of Construction Lending $783M Q1’26 Total $783M Q1’26 Total 28 Condos 29% Multi -Family Single Family 19% 12% Mixed Use 11% Land 10% Special Purpose 6% Hotel / Motel 6% Office 3% Other 4% Boston, MA 11% Weston, MA 9% Fairfield, CT 7% Milton,
Slide 29: Consumer Loans Overview
29 Consumer Loans Overview Amounts above exclude purchased premiums or discounts 29 Loan Type Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Purchased: Solar $ 48,494 $ 47,006 $ 45,678 $ 44,410 $ 43,080 Boat Loans 47,455 45,010 42,487 238 - Home Improvement 42,472 40,042 37,753 35,832 34,084 Student Loans
Slide 30: Consumer Loans Trends
30 Consumer Loans Trends 30 $0 $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 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Balance (thousands) Period Overview of Purchased Consumer Loans Net Charge Offs - Purchased (3ME) Net Charge Offs - Or
Slide 31: Cannabis Business Highlights
31 Cannabis Business Highlights • As of March 31, 2026, we had outstanding loan balances of $466.8 million to cannabis businesses: • $321.0 million was direct to cannabis entities; • $145.8 million was indirect to cannabis entities; • Weighted average LTV and DSCR was 35.1.% and 3.23, respectively;
Slide 32: Asset Quality
32 Reserves / Loans (%) & Reserves / NPLs (%) NPA Trends Asset Quality 1) Financials reflect bank level call report data 2) Financials reflect regulatory holding company data 1.10%¹ 0.36%¹ 0.56%¹ 0.24%² NPAs / Assets 32 0.27%² 0.62%² 0.63%² 0.87% 0.83% 0.83% 0.89% 1.46% 1.29% 175% 117% 298% 280% 201
Slide 33: Historically Strong Credit Culture
33 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 dev
Slide 34: Funding & Liquidity Management
34 Funding & Liquidity Management
Slide 35: Balanced Deposit Base
35 Note: Deposit composition reflects regulatory holding company data Balanced Deposit Base Q1’26 Cost of Deposits: 2.73% $6.1B Q1’26 Total 35
Slide 36: Support of Strong Deposit Base
36 Note: Deposit composition reflects regulatory holding company data Support of Strong Deposit Base Cost of Deposits 36 3/31/2026 12/31/2025 Change Balance WAR Balance WAR Balance ($) Balance (%) WAR ($ in Thousands) Noninterest-bearing demand deposits $871,343 0.00% $824,403 0.00% $46,940 5.69% 0.
Slide 37: Certificates of Deposit Maturities
37 Note: Deposit composition reflects regulatory holding company data Certificates of Deposit Maturities 37 Time Deposit Maturities ($M) Brokered Deposit Maturities ($M) 4.06% 3.96% 3.82% 3.57% 3.74% $0 $200 $400 $600 $800 $1,000 $1,200 06/2026 09/2026 12/2026 03/2027 06/2027 3.85% 3.89% 0.00% 0.00%
Slide 38: Overview of Securities Portfolio
38 Overview of Securities Portfolio $277M Q1’ 26 Total Q1’ 26 Yield on Securities: 4.02% 38 U.S. Treasuries 35% Mortgage -Backed Securities 32% Corporate Bonds 22% Collateralized Mortgage Obligations 4% Municipal Obligations 2% SBA Securities 2% U.S. Gov't Agencies 2%
Slide 39: Interest Rate Sensitivity
39 Interest Rate Sensitivity 39 At March 31, 2026 Change in Interest Rates Net Interest Income Year 1 Change (bps) Year 1 Forecast ($000) From Level +400 $278,649 6.7% +300 $275,608 5.5% +200 271,756 4.0% +100 267,723 2.5% -- 261,269 -- (100) 257,262 (1.5%) (200) 254,567 (2.6%) (300) 252,994 (3.2%)
Slide 40: Prudent Liquidity Management
40 Prudent Liquidity Management As of March 31, 2026, the Company had: • $188.3 million of outstanding advances from the Federal Home Loan Bank of Boston (“FHLBB”) • $570.1 million of brokered deposits • $892.7 million of unused borrowing capacity with the FHLBB • $1.0 billion available with the Fed
Slide 41: Appendix
Appendix LU)
Slide 42: Notes and Reconciliation of U.S. GAAP and Non-GAAP Financial Measures
42 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 ne
Slide 43: Notes and Reconciliation of U.S. GAAP and Non-GAAP Financial Measures (Cont.)
43 Notes and Reconciliation of U.S. GAAP and Non -GAAP Financial Measures (Cont.) 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-prov
Slide 44: Notes and Reconciliation of U.S. GAAP and Non-GAAP Financial Measures (Cont.)
44 Notes and Reconciliation of U.S. GAAP and Non -GAAP Financial Measures (Cont.) 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-prov
Slide 45: Notes and Reconciliation of U.S. GAAP and Non-GAAP Financial Measures (Cont.)
45 Notes and Reconciliation of U.S. GAAP and Non -GAAP Financial Measures (Cont.) 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-prov
Slide 46: Executive Management Biographies
46 Executive Management Biographies Joseph Campanelli Chairman, President & CEO Christine Roberts SEVP & Chief Operating Officer JP 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 wa
Slide 47: Thank You
Thank You Lo) —
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