NB Bancorp, Inc. Reports Full Year 2023 Financial Results
NB Bancorp, Inc. (NBBK)
Company Research
Source: PR Newswire
NEEDHAM, Mass., Feb. 28, 2024 /PRNewswire/ -- NB Bancorp, Inc. (the "Company") (Nasdaq Capital Market: NBBK), the holding company of Needham Bank, today announced its 2023 financial results.Concurrent with its mutual-to-stock conversion and as described in the prospectus for its initial public offering ("IPO"), the Company made a one-time donation of $2.0 million in cash and 1.7 million shares of common stock to the Needham Bank Charitable Foundation at a total market value of $19.1 million. This contribution, in addition to a one-time conversion and IPO-related compensation, pension termination expense and tax expense related to the impact of public company tax laws resulted in net income of $9.8 million for the year ended December 31, 2023, compared to net income of $30.1 million reported for the year ended December 31, 2022. Net income excluding conversion and IPO-related expenses, which excludes these one-time amounts, was $34.3 million for the year ended December 31, 2023, compar
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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