NB Bancorp, Inc. Reports First Quarter 2024 Financial Results
NB Bancorp, Inc. (NBBK)
Company Research
Source: PR Newswire
NEEDHAM, Mass., April 24, 2024 /PRNewswire/ -- Bancorp, Inc. (the "Company") (Nasdaq Capital Market: NBBK), the holding company of Needham Bank, today announced its first quarter 2024 financial results.SELECTED FINANCIAL HIGHLIGHTS FOR THE FIRST QUARTER OF 2024Net income of $8.7 million, or $0.22 per diluted share, compared to net loss of $13.6 million, or $0.32 loss per diluted share, for the prior quarter.Gross loans increased $65.3 million, or 1.7%, to $3.95 billion, from the prior quarter.The net interest margin on a fully-tax equivalent basis increased 21 basis points to 3.60%.Asset quality remains strong:Annualized net charge-offs of 0.19% of average total loans and non-performing loans of $11.1 million, or 0.28% of total loans. All of the charge-offs in the quarter were in the purchased consumer loan portfolio.Provision for the allowance for credit losses was $4.4 million, down from $5.9 million in the prior quarter and contributing to an increase in the ACL of $2.1 million.Tot
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Sec Filings
- 5/10/24 - Form 10-Q
- 5/9/24 - Form 4
- 5/1/24 - Form 4
- NBBK's page on the SEC website