NB Bancorp (NBBK) Q3 2025 earnings summary

Executive summary

• Net income for Q3 2025 was $15.4 million ($0.43 per diluted share), up 83.3% year-over-year and from $14.6 million ($0.39 per share) in Q2 2025; nine-month net income was $42.6 million, up 60.5% year-over-year.

• Operating net income (non-GAAP) for Q3 2025 was $16.0 million ($0.45 per share), up 22.0% year-over-year and from $15.0 million ($0.40 per share) in Q2.

• Growth driven by higher net interest income, increased noninterest income, and lower provision for credit losses.

• Pending acquisition of Provident Bancorp, Inc. and BankProv expected to close in Q4 2025, with all regulatory approvals received.

• Quarterly cash dividend of $0.07 per share declared, payable November 19, 2025.

Financial highlights

• Total assets increased 5.5% year-over-year to $5.44 billion as of September 30, 2025, up 4.1% from Q2 2025.

• Net loans grew 8.8% year-over-year to $4.67 billion; gross loans increased by $175.0 million (3.9%) to $4.72 billion from Q2; deposits rose 9.3% year-over-year to $4.57 billion, up $297.6 million (7.0%) from Q2.

• Net interest income for Q3 2025 was $48.2 million, up 16.6% year-over-year and 2.5% from Q2; nine-month net interest income was $138.7 million, up 16.9%.

• Noninterest income for Q3 2025 was $3.6 million, up 180.7% year-over-year but down 15.0% from Q2; noninterest expense for Q3 was $30.4 million, up 23.5% year-over-year and 3.6% from Q2.

• Provision for credit losses for Q3 2025 was $1.4 million, down 46.8% year-over-year and 55.8% from Q2; allowance for credit losses at 0.91% of total loans.

Outlook and guidance

• Management expects to close and integrate the Provident Bancorp, Inc. and BankProv acquisition in Q4 2025, with anticipated growth opportunities and market share expansion.

• Sufficient liquidity and capital to meet current and future obligations; well-capitalized status maintained.

• No material changes in risk factors or critical accounting policies from prior disclosures.

• Focus remains on customer service, new product features, and enhancing shareholder value.