Parent Company Only Financial Information

12 Months Ended

Dec. 31, 2025

Parent Company Only Financial Information

Parent Company Only Financial Information

Note 19 – Parent Company Only Financial Information

The following information presents the condensed balance sheets of NB Bancorp, Inc. as of the dates stated:

	December 31,		December 31,
	2025		2024
Assets	(in thousands)
Cash and cash equivalents	$	79,252	$	149,732
Investment in consolidated subsidiary		779,187		606,765
Other assets		673		8,670
Total assets		859,112		765,167
Liabilities and Shareholders' Equity
Accrued expenses and other liabilities		180		-
Shareholders' equity		858,932		765,167
Total liabilities and shareholders' equity	$	859,112	$	765,167

The following information presents the statements of income of NB Bancorp, Inc. for the periods stated:

	Year ended
	December 31,		December 31,		December 31,
	2025		2024		2023
Interest and dividend income	(in thousands)
Interest on ESOP loan	$	3,457	$	3,878	$	—
Interest on cash		4,383		7,267		233
Interest on commercial loan		31		—		—
Dividend income		93,000		—		—
Total interest income		100,871		11,145		233
Noninterest expense
Salaries and Benefits		966		—		—
Data Processing Expenses		29		—		—
Director & Professional Services		2,122		—		—
Merger and acquisition expense		3,282		—		—
Charitable contribution expense		—		—		19,082
General and administrative (income) expense		(202)		375		30
Total noninterest expense		6,197		375		19,112
Income before income taxes and equity in undistributed net income of subsidiary		94,674		10,770		(18,879)
Income taxes (benefit)		467		3,024		(5,318)
Income before equity in undistributed net income of subsidiary		94,207		7,746		(13,561)
Equity in undistributed net (loss) income of subsidiary		(43,905)		34,403		23,386
Net income	$	50,302	$	42,149	$	9,825

The following information presents the statements of cash flow of NB Bancorp, Inc. for the periods stated:

	Year ended
	December 31,		December 31,		December 31,
	2025		2024		2023
Cash flows from operating activities:	(in thousands)
Net income	$	50,302	$	42,149	$	9,825
Adjustments to reconcile net income to net cash used in operating activities:
Changes in other assets		8,207		(8,670)		—
Changes in accrued expense and other liabilities		(860)		(26,206)		26,206
ESOP Expense		3,568		2,800		—
Stock-based compensation		2,910		—		—
Equity in undistributed net loss (income) of subsidiary		43,905		(34,403)		(23,386)
Net cash provided by (used in) operating activities		108,032		(24,330)		12,645
Cash flows from investing activities:
ESOP share purchases		—		(33,397)		(13,774)
Investment in Needham Bank		—		—		(208,643)
Acquisition, net of cash acquired		(95,812)		—		—
Net cash used in investing activities		(95,812)		(33,397)		(222,417)
Cash flows from financing activities:
Net proceeds (costs) from stock offering and issuance of common shares		—		(226)		417,457
Repurchase of common shares under share repurchase plans		(77,125)		—		—
Dividends paid		(5,575)		—		—
Net cash provided by (used in) financing activities:		(82,700)		(226)		417,457
Net (decrease) increase in cash and cash equivalents		(70,480)		(57,953)		207,685
Cash and cash equivalents at beginning of the period		149,732		207,685		—
Cash and cash equivalents at end of the period	$	79,252	$	149,732	$	207,685
Supplemental disclosure of non-cash transactions:
Restricted stock awards granted	$	13	$	—	$	—
Fair value of assets acquired in Provident Acquisition, net of cash		1,402,027		—		—
Fair value of liabilities assumed in Provident Acquisition		1,190,731		—		—
Goodwill from Provident Acquisition		18,512		—		—
Common stock issued for Provident Acquisition		114,654		—		—