NB Bancorp, Inc. · NASDAQ:NBBK
NB Bancorp — Debt Investor Presentation (November 2026)
41 slides from NB Bancorp's debt investor presentation, Nov 6, 2026
Slide 1: Subordinated Notes Offering
| 1 Fall 2026 | CONFIDENTIAL Subordinated Notes Offering
Slide 2: Disclaimer: Forward Looking Statements
| 2 Disclaimer Forward Looking Statements Statements in this presentation 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
Slide 3: Disclaimer (Continued)
| 3 Disclaimer (Continued) This presentation has been prepared solely for informational purposes from information supplied by or on behalf of the Company and its subsidiaries (collectively, “we,” “our” or “us”) and is confidential and does not constitute or form part of any offer to sell, or a solic
Slide 4: Presenters
| 4 Presenters Joseph Campanelli Chairman, Chief Executive Officer and President JP Lapointe Senior Executive Vice President, Chief Financial Officer
Slide 5: Terms of the Proposed Subordinated Debt Offering
| 5 1) A rating is not a recommendation to buy, sell, or hold securities. Ratings may be subject to revision or withdrawal at any time by the assigning rating organizations. Each rating organization has its own methodology for assigning ratings and, accordingly, each rating should be evaluated indep
Slide 6: Overview of NB Bancorp
[N8 Bancorp, Inc. Overview of NB Bancorp
Slide 7: Overview of NB Bancorp Key Highlights
| 7 1) Community banks defined as U.S. Banks with <$100 Billion in assets Note: Assets, Loans, Deposits, and Branch Count are as of September 30, 2026. Market Cap as of October 15, 2026 Source: S&P Capital IQ Pro Overview of NB Bancorp Key Highlights $7.7B $6.8B $6.5B $857M $925M 21 Branches Total A
Slide 8: Investment Highlights
| 8 Investment Highlights Experienced management team and talent base to grow market share, invest for the future, and serve the community Focused on driving franchise value via relationship-based banking and active community involvement History of consistent earnings through various market cycles C
Slide 9: Industry Drivers of Local Market
| 9 Source: S&P Capital IQ Pro; U.S. Bureau of Economic Analysis; Massachusetts Department of Economic Research Industry Drivers of Local Market Largest Employers Boston MSA Median HHI ($) $87K $122K U.S. Boston MSA Boston MSA 2026-2031 Projected HHI Δ 11.3% 12.1% U.S. Boston MSA Massachusetts 2025
Slide 10: Strength of Growing Deposit Base
| 10 ~10x the market 1) BP refers to BankProv Source: S&P Capital IQ Pro Over the two-year period ended June 30, 2026 (latest market data available), each Needham Bank branch experienced growth that matched or exceeded growth in its respective market. In aggregate, Needham Bank achieved growth at ~1
Slide 11: Financial Overview
[N3 Bancorp, Inc. Financial Overview
Slide 12: Targeted Balance Sheet Growth
| 12 1) Non-GAAP financial measure. Please refer to the Appendix for a reconciliation Targeted Balance Sheet Growth Total Deposits ($M) Tangible Common Equity¹ ($M) Total Assets ($M) Total Gross Loans ($M) $5,158 $7,006 $7,226 $7,447 $7,684 2024 2025 Q1'26 Q2'26 Q3'26 $4,333 $5,986 $6,210 $6,423 $6,
Slide 13: Track Record of Strong Performance
| 13 1) Reflects annualized quarterly net income 2) Non-GAAP financial measure. Please refer to the Appendix for a reconciliation Track Record of Strong Performance Return on Average Assets Return on Average Tangible Common Equity² Net Income ($M) Return on Average Equity 0.88% 0.92% 0.86%¹ 1.17%¹ 1
Slide 14: Track Record of Strong Performance (Continued)
| 14 Note: Quarterly results are annualized Track Record of Strong Performance (Continued) Noninterest Income / Average Assets Noninterest Expense / Average Assets Net Interest Margin Efficiency Ratio 3.53% 3.79% 3.94% 4.00% 3.97% 2024 2025 Q1'26 Q2'26 Q3'26 59.0% 64.5% 61.5% 58.9% 60.5% 2024 2025 Q
Slide 15: Capital Ratios (Pre-Transaction)
| 15 1) Non-GAAP financial measure. Please refer to the Appendix for a reconciliation Source: Company filings; Call Report and Y-9C regulatory filings. Capital Ratios (Pre-Transaction) Tier 1 Capital Ratio Total Capital Ratio Tangible Common Equity / Tangible Assets¹ Leverage Ratio NR NR 12.10% 10.7
Slide 16: Loan Portfolio & Asset Quality
| 16 Loan Portfolio & Asset Quality
Slide 17: Diversified Loan Portfolio (Q3'26)
| 17 Commercial Real Estate 34% 1-4 Family including HELOCs 21% Commercial & Industrial 17% Construction & Development 12% Multifamily 9% Warehouse 4% Consumer 3% Note: Loan balances above include deferred fees Diversified Loan Portfolio (Q3’26) Q3’26 Yield on Loans: 6.66% $6.8B Total Loan Type Bala
Slide 18: Overview of Commercial Real Estate Portfolio (Q3'26)
| 18 Overview of Commercial Real Estate Portfolio (Q3’26) Multi-Family 27% Office 15% Hospitality 14% Mixed Use 11% Industrial 8% Retail 9% Other 15% Cannabis Facility 25% Industrial 26% Retail 17% Special Purpose 11% Office 6% Other 15% $751M Total $2.1B Total Owner-Occupied CRE By Collateral Type
Slide 19: Overview of C&I Portfolio (Q3'26)
| 19 Structured Finance 30% Middle Market 17% Renewable Energy 16% Cannabis 12% Cannabis Bridge Financing 10% Bridge Financing 6% Small Business / Other 9% Boston MSA 39% California Connecticut 11% 7% Florida 11% Illinois 15% New York 10% Other 8% Overview of C&I Portfolio (Q3’26) C&I By Type C&I By
Slide 20: Overview of Construction Lending (Q3'26)
| 20 Condos 27% Land 16% Multi-Family 12% Single Family 10% Hotel/Motel 7% Other 28% Boston MSA Rhode Island 85% 6% Texas 2% New Jersey 1% Michigan 1% Florida 1% Other 4% Overview of Construction Lending (Q3’26) Construction By Type Construction By Geography $846M Total $846M Total
Slide 21: Office Portfolio Overview (Q3'26)
| 21 Non-Owner-Occupied - Office 69% Non-Owner-Occupied - Medical Office 14% Owner-Occupied - Office 8% Other 9% 1) Includes commercial real estate and construction office loans Office Portfolio Overview (Q3’26)¹ Office Portfolio (Q3’26) Weighted Average Rate Weighted Average Maturity Weighted Avera
Slide 22: Cannabis Business Highlights
| 22 Cannabis Business Highlights • As of September 30, 2026, we had outstanding loan balances of $576 million to cannabis businesses: • $401 million was direct to cannabis entities • $175 million was indirect to cannabis entities • Weighted average LTV and DSCR was 47% and 3.2x, respectively with L
Slide 23: Enterprise Value Portfolio (Acquired Through Merger)
| 23 Enterprise Value (“EV”) Portfolio (Acquired Through Merger) • Our C&I portfolio as of September 30, 2026, includes a ~$96 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 th
Slide 24: Loan Portfolio Concentrations
| 24 $30M Downstream² 1) Financials reflect bank-level call report data 2) Assumes $100 million in proceeds from subordinated notes offering and $30 million downstream of net proceeds to the Bank Note: CRE loans as defined in the regulatory agencies’ guidance Source: S&P Capital IQ Pro Loan Portfoli
Slide 25: Asset Quality Commentary
| 25 Asset Quality Commentary • The Q3’26 increase in nonaccrual loans from $27.7 million to $36.1 million is primarily due to a $12.7 million commercial real estate loan acquired from BankProv being placed on non-accrual during as of September 30, 2026 • The ACL as a percent of NPLs dropped from 29
Slide 26: Historically Strong Credit Culture
| 26 1) Reflects annualized metrics Historically Strong Credit Culture • Our loan portfolio consists primarily of commercial real estate and multifamily loans, one-to four-family residential real estate loans, construction and land development loans, commercial and industrial loans, mortgage warehou
Slide 27: Funding & Liquidity Management
| 27 Funding & Liquidity Management
Slide 28: Support of Strong Deposit Base
| 28 Note: Deposit composition reflects regulatory holding company data Support of Strong Deposit Base Q3’26 Q2’26 Q1’26 ($ in millions) Balance WAR Balance WAR Balance WAR Noninterest-bearing demand deposits $997 0.00% $952 0.00% $871 0.00% Savings accounts 221 1.01% 213 0.65% 211 0.56% NOW account
Slide 29: Overview of Securities Portfolio (Q3'26)
| 29 U.S. Treasuries 33% Agency Mortgage-Backed Securities 38% Corporate Bonds 20% Other 9% Overview of Securities Portfolio (Q3’26) Q3’26 Yield on Securities: 4.45% $280M Total Securities Portfolio Commentary ● 100% AFS classification ● Weighted average life of 4.2 years, modified duration of 3.3 y
Slide 30: Interest Rate Sensitivity
| 30 1) Certain shortcomings are inherent in the methodologies used in the measurement of interest rate sensitivity presented in this chart. Please refer to our Annual Report on Form 10-K for the year ended December 31, 2025 ("Management of Market Risk") for additional information. Interest Rate Sen
Slide 31: Prudent Liquidity Management
| 31 FHLB Advances 3.8% Brokered Deposits 17.6% FHLB Unused Borrowing Capacity 17.9% FED Available Borrowing Capacity 29.4% Capacity for Additional Brokered Deposits 31.2% (Q3’26) Prudent Liquidity Management As of September 30, 2026, the Company had: • $150 million of outstanding advances from the
Slide 32: Pro Forma Capital Ratios
| 32 1) Assumes $30 million downstream of net proceeds to the Bank 2) Assumes 20% risk weight on net proceeds 3) Net proceeds impact 4) Commercial real estate loans as defined in the regulatory agencies' guidance (non-OO CRE, multifamily, C&D / CRE loans not secured by real estate) 5) Non-GAAP finan
Slide 33: Pro Forma Interest Coverage
| 33 1) For illustrative purposes only. Assumes $100 million subordinated debt raise with customary offering expenses for the nine months ended September 30, 2026 Note: Figures may not sum due to rounding Pro Forma Interest Coverage Calendar year ended Nine months ended September 30, 2026 Offering $
Slide 34: Appendix
[N3 Bancorp, Inc. | Appendix
Slide 35: Reconciliation Non-GAAP Financial Measures
| 35 Reconciliation Non-GAAP Financial Measures Calendar year ended For the three months ended $ in millions 2024 2025 Q1’26 Q2’26 Q3’26 Bank Level Tangible common equity Shareholders’ equity $607 $779 $791 $811 $826 Less: Intangible assets 1 38 37 36 29 Tangible common equity $606 $741 $754 $774 $7
Slide 36: Reconciliation Non-GAAP Financial Measures
| 36 Reconciliation Non-GAAP Financial Measures Calendar year ended For the three months ended $ in millions 2024 2025 Q1’26 Q2’26 Q3’26 Return on average tangible common equity: Net income $42 $50 $15 $21 $23 Average shareholders’ equity $746 $758 $862 $844 $855 Less: Average intangible assets 1 17
Slide 37: Executive Management Overview
| 37 Executive Management Overview Joseph Campanelli Chairman, President & CEO Christine Roberts SEVP & Chief Operating Officer JP Lapointe SEVP & Chief Financial Officer Kevin Henkin EVP & Chief Credit Officer Mr. Campanelli has served as President and Chief Executive Officer of Needham Bank since
Slide 38: Non-Management Board of Directors Overview
| 38 Non-Management Board of Directors Overview Susan Elliott Director Prior to her retirement in 2019, Ms. Elliott served as Executive Vice President and Chief Business Officer for the Federal Home Loan Bank of Boston (FHLB) (2009- 2019); previously she held various roles at the FHLB. She was recen
Slide 39: Non-Management Board of Directors Overview (Continued)
| 39 Non-Management Board of Directors Overview (Continued) Mark Whalen Director Prior to his retirement in 2017, Mr. Whalen was a career banker, previously serving as Needham Bank’s President and Chief Operating Officer (2014-2015) and former CEO (2015-2017). Prior to joining Needham Bank in 2007,
Slide 40: Non-Management Board of Directors Overview (Continued)
| 40 Non-Management Board of Directors Overview (Continued) Hope Pascucci Director Ms. Pascucci is President and Principal of Rose Grove Capital Management, a fixed-income hedge fund headquartered in Wellesley, Massachusetts. Previously, Ms. Pascucci served as Co-Head of Global Capital Markets at De
Slide 41: Thank You
Thank You NB Bancorp, Inc.
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