NB Bancorp Inc (OQ:NBBK)
Business Focus: Commercial Banks
| Sector: Financials | Industry: Banks |
| See Regulatory Filings on SEC | |
| Company Contact | |
| Address: | 1063 Great Plain Avenue NEEDHAM MA 02492 |
| Tel: | N/A |
| Website: | https://nbbancorp.com/overview |
| IR: | See website |
| Key People | ||
| Joseph P. Campanelli Chairman of the Board, President, Chief Executive Officer | Margaret Watson Senior Vice President, General Counsel | Jean-Pierre P. Lapointe Chief Financial Officer, Executive Vice President |
| Christine Roberts Chief Operating Officer, Executive Vice President | James White Executive Vice President, Chief Administrative Officer | Peter Bakkala Executive Vice President, Chief Risk Officer |
| Paul Evangelista Executive Vice President - Director Specialized Banking Center | Kevin Henkin Executive Vice President, Chief Credit Officer | Stephanie Maiona Executive Vice President, Senior Commercial Lender | Michael Sinclair Executive Vice President - Residential and Consumer Lending |
| Business Overview |
| NB Bancorp, Inc. is a holding company for Needham Bank (the Bank), which is a Massachusetts-chartered cooperative bank. The Banks lending activities include commercial real estate and multifamily loans, one- to four-family residential real estate loans, construction and land development loans, commercial and industrial loans, and consumer loans. It also invests in securities, consisting primarily of United States treasury and federal agency securities, municipal bonds, and corporate bonds. It also offers a variety of deposit accounts, including certificate of deposit accounts, IRAs, money market accounts, savings accounts, demand deposit accounts and interest-bearing and noninterest-bearing checking accounts. Its primary market area is the Greater Boston metropolitan area and surrounding communities, including eastern Connecticut, southern New Hampshire, and Rhode Island. It has branches in Wellesley, Westwood, Dedham, Medfield, Medford, Dover, Ashland, Millis, and others. |
| Financial Overview |
| For the twelve months ended 31 December 2024, NB Bancorp Inc revenues increased 64% to $292.3M. Net income increased from $1.1M to $42.1M. Revenues reflect Interest and fees on loans increase of 61% to $270.8M, Interest and dividends on cash equivalen increase from $3.6M to $14.9M, Interest on investment securities increase of 87% to $6.9M. Net income benefited from Marketing and charitable contribution ex decrease of 82% to $3.5M (expense). |
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