Nb Bancorp, Inc. · NASDAQ:NBBK
Nb Bancorp — Q2 2026 Earnings Presentation
47 slides from Nb Bancorp's earnings presentation, Jul 22, 2026
Slide 1: NB Bancorp, Inc. Q2 Investor Presentation
NB Bancorp, Inc: Q2 Investor Presentation [Ns Bancorp, Inc.
Slide 2: Forward-looking statements
2 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 by the safe harbor provision
Slide 3: NB Bancorp, Inc. Overview
NB Bancorp, Inc. Overview LU)
Slide 4: NB Bancorp at a glance
4 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 extensive expertise Full-servi
Slide 5: Growth since IPO
5 1) See Appendix for reconciliation of non-GAAP financial metrics • Asset Growth in $M +44.4% • Deposits in $M +45.9% • YTD Operating EPS1 +261.5% • Net Interest Margin +14.9% • Operating ROAA1 +40.3% • Share Price +111.3% $4,333 $6,320 IPO Q2'26 $5,158 $7,447 IPO Q2'26 3.48% 4.00% IPO Q2'26 0.86%
Slide 6: Branch network and markets
6 1) Excludes banks with total assets greater than $10 billion; FDIC deposit data as of June 30, 2025 Source: S&P Capital IQ Pro Our branch network covers the metro-west area of Boston, southern New Hampshire and surrounding communities which are our primary deposit market areas. We consider our pri
Slide 7: Branch deposit growth versus market
7 Over the two-year period ended June 30, 2025 (latest market data available), each Needham Bank branch experienced growth that matched or exceeded growth in its respective market. In aggregate, Needham Bank achieved growth at over 5 times the overall market growth during this period. Branch June 20
Slide 8: Market economics and employers
8 Largest Employers Boston MSA 2026-2031 Projected HHI Δ Massachusetts 2025 GDP by Industry Boston MSA Median HHI ($) 1) Other industries include accommodation and food services, waste management and remediation services, educational services, management of companies, transportation and warehousing,
Slide 9: Board of directors and management
9 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 Christopher Lynch President – Marshall
Slide 10: Investment highlights
10 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 Excellent credit profile
Slide 11: Second quarter highlights
11 • GAAP Net income of $21.1 million, or $0.53 per diluted share for the quarter. • Operating Net Income1 (Non-GAAP) of $21.9 million, or $0.55 per diluted share for the quarter. • Gross loans increased $213.0 million, or 3.4%, to $6.42 billion, from $6.21 billion in the prior quarter; driven by gr
Slide 12: Second quarter highlights: credit, deposits, capital
12 • Allowance for Credit Losses (“ACL”) increased by $1.9 million, or 2.4%, during the quarter, primarily driven by loan growth. • Resulting in a consistent coverage ratio of 1.28% of total loans, compared to 1.29% in the prior quarter. • Total core deposits increased $73.1 million, or 1.3%, from t
Slide 13: Financial Overview
Financial Overview —
Slide 14: Assets, loans, deposits and equity trends
14 Total Deposits ($M) Tangible Common Equity ($M) Total Assets ($M) Total Gross Loans ($M) $2,923 $3,592 $4,533 $5,158 $7,001 $7,226 $7,447 2021 2022 2023 2024 2025 Q1'26 Q2'26 $2,105 $3,015 $3,889 $4,333 $5,986 $6,210 $6,423 2021 2022 2023 2024 2025 Q1'26 Q2'26 $2,565 $2,887 $3,387 $4,178 $5,854 $
Slide 15: Operating returns and net income
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 1) See Appendix for reconciliation of non-GAAP financial metrics 2) Q1 and Q2 ’26 operating net income reflects annualized totals 0
Slide 16: Margin, efficiency, income and expense ratios
16 Operating Noninterest Income / Average Assets (%)¹ Operating Noninterest Expense / Average Assets (%)¹ Net Interest Margin (%) Operating Efficiency Ratio (%)¹ 1) See Appendix for reconciliation of non-GAAP financial metrics 2.81% 3.49% 3.41% 3.53% 3.79% 3.93% 4.00% 2021 2022 2023 2024 2025 Q1'26
Slide 17: Capital ratios
17 11.28%¹ 17.41%² 13.59%² 13.00%² 12.76%² 2021 2022 2023 2024 2025 Q1'26 Q2'26 10.54%¹ 16.51%² 12.83%² 12.19%² 11.95%² 2021 2022 2023 2024 2025 Q1'26 Q2'26 Tier 1 Capital Ratio (%) Total Capital Ratio (%) Tangible Common Equity / Tangible Assets (%) Leverage Ratio (%) 1) Financials reflect indicati
Slide 18: Loan Portfolio & Asset Quality
Loan Portfolio & Asset Quality LU)
Slide 19: Loan composition
19 Note: Loan composition reflects regulatory holding company data Q2’26 Yield on Loans: 6.70% $6.43B Q2’26 Total
Slide 20: Loan portfolio by type, rate and maturity
20 Loan balances above are not shown net of deferred fees Variable Rate (%) Fixed Rate (%) Wtd. Avg. Maturity (Yrs) Wtd. Avg. Rate Loan Type Balance Commercial $2,121,527 6.22% 9.6 18.7% 81.3% Real Estate 1-4 Family (incl. $1,386,290 5.30% 25.8 42.5% 57.5% HELOCs) C&I $1,147,727 6.87% 7.1 27.1% 72.9
Slide 21: Mortgage warehouse lending portfolio
21 • Our $217.7 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 Master Repurchase Agreement facilities (“Fa
Slide 22: Enterprise value loan portfolio
22 • Our C&I portfolio as of June 30, 2026, includes a $129.6 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 portfolio has loans across the country
Slide 23: EV portfolio by type and balance trend
23 EV By Type $129.6M Q2’26 Total EV Balance Trend
Slide 24: Construction and CRE to risk-based capital
24 Construction & Development / Total Indicative Risk-Based Capital (%)¹ Commercial Real Estate / Total Indicative Risk-Based Capital (%)¹ 1) Financials reflect regulatory holding company data 280% 277% 342% 187% 202% 305% 322% 327% 2020 2021 2022 2023 2024 2025 Q1'26 Q2'26 125% 129% 144% 79% 72% 89
Slide 25: Commercial real estate by collateral type
25 Owner-Occupied CRE By Collateral Type Non-Owner-Occupied CRE By Collateral Type $806M Q2’26 Total $1.88B Q2’26 Total
Slide 26: Office portfolio
26 1) Includes commercial real estate and construction office loans ¹ • Our $373.3 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. $373M Q2’26 Total Off
Slide 27: C&I by type and geography
27 C&I By Type C&I By Geography $1.15B Q2’26 Total $1.15B Q2’26 Total
Slide 28: Construction by type and geography
28 Construction By Type Construction By Geography $766M Q2’26 Total $766M Q2’26 Total
Slide 29: Purchased and originated consumer loans
29 Amounts above exclude purchased premiums or discounts Loan Type Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Purchased: Solar $ 47,006 $ 45,678 $ 44,410 $ 43,080 $ 41,150 Loans Held for Sale - Boat Loans - - 63,447 63,971 59,927 Boat Loans 45,010 42,487 238 - - Home Improvement 40,042 37,753 35,832 34
Slide 30: Overview of purchased consumer loans
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 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Balance (thousands) Period Overview of Purchased Consumer Loans Net Charge Offs - Purchased (3ME) Net Charge Offs - Originated (3ME) Total Purc
Slide 31: Cannabis business loans and deposits
31 • As of June 30, 2026, we had outstanding loan balances of $542.5 million to cannabis businesses: • $374.2 million was direct to cannabis entities; • $168.2 million was indirect to cannabis entities; • Weighted average LTV and DSCR was 44.0.% and 3.11, respectively; and, • 74.03% of the total out
Slide 32: Nonperforming asset trends and reserves
32 $6.0 $13.0 $10.8 $13.9 $7.5 $15.3 $13.2 $35.9 $30.3 14.5 $4.5 $8.3 2021 2022 2023 2024 2025 Q1'26 Q2'26 NBBK Nonaccruals ($M) BankProv Nonaccruals ($M) TDRs ($M) OREO ($M) Reserves / Loans (%) & Reserves / NPLs (%) NPA Trends 1) Financials reflect bank level call report data 2) Financials reflect
Slide 33: Net charge-offs to average loans
33 1) Reflects annualized metrics Note: Values may not sum due to rounding 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 development loans, commercial and indu
Slide 34: Funding & Liquidity Management
Funding & Liquidity Management LU)
Slide 35: Deposit composition
35 Note: Deposit composition reflects regulatory holding company data Q2’26 Cost of Deposits: 2.68% $6.32B Q2’26 Total
Slide 36: Cost of deposits and deposit changes
36 Note: Deposit composition reflects regulatory holding company data Cost of Deposits 1.03% 0.43% 0.48% 2.34% 3.28% 2.96% 2.73% 2.68% 0.00% 2.00% 4.00% 6.00% 2020 2021 2022 2023 2024 2025 Q1'26 Q2'26 Balance WAR Balance WAR Balance ($) Balance (%) WAR Noninterest-bearing demand deposits $952,306 0.
Slide 37: Time and brokered deposit maturities
37 Note: Deposit composition reflects regulatory holding company data Time Deposit Maturities ($M) Brokered Deposit Maturities ($M) 3.92% 3.85% 3.88% 3.87% 3.68% $0 $200 $400 $600 $800 09/2026 12/2026 03/2027 06/2027 09/2027 3.98% 0.00% 0.00% 0.00% 0.00% $0 $200 $400 $600 $800 $1,000 09/2026 12/2026
Slide 38: Securities portfolio
38 $272.6M Q2’ 26 Total Q2’ 26 Yield on Securities: 3.96%
Slide 39: Net interest income sensitivity
39 At June 30, 2026 Change in Interest Rates Net Interest Income Year 1 Change (bps) Year 1 Forecast ($000) From Level +300 $290,250 5.6% +200 $286,254 4.1% +100 $281,644 2.5% -- $274,904 -- (100) $270,584 (1.6%) (200) $267,636 (2.6%) (300) $266,213 (3.2%)
Slide 40: Liquidity sources and borrowing capacity
40 As of June 30, 2026, the Company had: • $181.2 million of outstanding advances from the Federal Home Loan Bank of Boston (“FHLBB”) • $718.9 million of brokered deposits • $762.0 million of unused borrowing capacity with the FHLBB • $1.1 billion available with the Federal Reserve Bank’s Borrower-i
Slide 41: Appendix
Appendix —
Slide 42: Non-GAAP financial measures
42 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 net revenue, operating net income, operating pre-tax income, net interest
Slide 43: Non-GAAP financial measures
43 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 net revenue, operating net income, operating pre-tax income, net interest
Slide 44: Non-GAAP financial measures
44 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 net revenue, operating net income, operating pre-tax income, net interest
Slide 45: Non-GAAP financial measures
45 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 net revenue, operating net income, operating pre-tax income, net interest
Slide 46: Executive management biographies
46 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 was elected Chairman in 2022. Mr. C
Slide 47: Thank You
Thank You Ld)