NBBK NB Bancorp, Inc.
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Executive Summary
NB Bancorp filed an 8-K to make available a slide presentation for an investor bank meeting on June 2, 2026. The presentation recaps Q1 2026 financial results: GAAP net income of $15.0M ($0.36/diluted share), operating net income of $15.8M ($0.38/diluted share), gross loan growth of 3.7% QoQ, and NIM expansion to 3.94%. Asset quality showed elevated net charge-offs of 0.91% annualized, driven by two BankProv purchased credit deteriorated loans totaling $12.4M in charge-offs, though organic Needham Bank NCOs were only 0.08%. The filing is a routine investor presentation with no new material events beyond previously reported Q1 results.
Actionable Insight
This is a routine investor presentation recapping previously reported Q1 2026 results. No new material information. Monitor the BankProv EV portfolio runoff (paid down to $141M as of April 30, 2026 from $207M at acquisition) and any further credit deterioration in acquired loans. The next catalyst is the Q2 2026 earnings report.
Key Facts
- Q1 2026 GAAP net income of $15.0M, or $0.36 per diluted share
- Operating net income (Non-GAAP) of $15.8M, or $0.38 per diluted share
- Gross loans increased $223.8M (3.7%) QoQ to $6.21B
- Net interest margin expanded 2 bps to 3.94%; net interest income up 10.4% QoQ
- Annualized Q1 2026 net charge-offs of 0.91% of avg loans, driven by $12.4M in charge-offs on two BankProv PCD loans
- Allowance for Credit Losses decreased $7.2M to 1.29% of total loans (from 1.46% prior quarter)
- Provision for credit losses was $6.3M vs a $1.1M release in prior quarter
- Total core deposits increased $209.1M (3.9%) QoQ to $5.53B
- Tangible common equity / tangible assets at 11.21%; book value per share $18.83, tangible book value $18.00
- BankProv acquisition closed Nov 15, 2025; trailing acquisition costs of $534K in Q1
Financial Impact
No new material financial event; Q1 results already disclosed. Elevated charge-offs from BankProv acquired loans ($12.4M) partially offset by strong loan and deposit growth.
Risk Factors
- Credit risk from BankProv acquired loan portfolios, particularly the $141M EV portfolio with $18.0M remaining purchase-credit deteriorated marks
- Elevated net charge-offs (0.91% annualized) driven by acquired loans; organic NCOs remain low at 0.08%
- Cannabis loan concentration of $466.8M (7.5% of total loans) with regulatory and legal uncertainty
- Office portfolio exposure of $348.2M with 51.8% weighted average LTV
- Integration risk from BankProv acquisition still in early stages (closed Nov 2025)
Market Snapshot
Documents Analyzed
This report is based on 5 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001104659-26-064982 |
| Document: nbbk-20260521x8k.htm | 0001104659-26-064982 |
| Document: 0001104659-26-064982-index-headers.html | 0001104659-26-064982 |
| Document: 0001104659-26-064982-index.html | 0001104659-26-064982 |
| Document: 0001104659-26-064982.txt | 0001104659-26-064982 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
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Jun 12, 2026
2d ago
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Institutional Cluster
| $20.52 awaiting T+5 | awaiting T+5 | — | $20.62 (+0.49%) |
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May 21, 2026
24d ago
|
8-K
| $19.88 $19.97 | ▲ +0.45% | ▼ −1.15% | $20.62 (+3.72%) |
|
May 13, 2026
4w ago
|
8-K
| $19.72 $19.85 | ▲ +0.66% | ▲ +0.80% | $20.62 (+4.56%) |
|
Apr 24, 2026
7w ago
|
Insider Cluster
| $19.75 $19.63 | ▼ −0.61% | ▼ −1.52% | $20.62 (+4.40%) |
|
Apr 22, 2026
7w ago
|
8-K
| $19.09 $19.56 | ▼ −2.44% | ▼ −0.97% | $20.62 (−8.00%) |
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Mar 6, 2026
14w ago
|
Insider Cluster
| $20.96 $20.82 | ▼ −0.65% | ▲ +0.88% | $20.62 (−1.61%) |
US Market Status
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