Results were largely in line with expectations, with strong loan growth offset by modest NIM compression and slightly elevated credit costs from legacy PCD loans. The sequential improvement in operating ROAA to 1.26% and ROATCE to 11.45% signals the Provident acquisition is delivering operational leverage. Monitor next quarter for NIM stabilization and further run-off of the acquired EV portfolio, which has reduced from $207M to $96M since acquisition.
Price Chart
Executive Summary
NB Bancorp reported Q3 2026 GAAP net income of $23.1M ($0.58 diluted EPS) and operating net income of $23.8M ($0.60 diluted EPS), in line with consensus. Net interest income rose 3.3% QoQ to $71.4M, but NIM compressed 3bps to 3.97%. Loan growth remained strong at 5.3% QoQ, while credit quality metrics showed modest deterioration with NPLs rising to 0.53% of loans and net charge-offs increasing to 0.31% annualized, primarily from a fully reserved PCD C&I charge-off. The company declared a $0.07 quarterly dividend.
Key Financial Metrics
Key Facts
- GAAP net income of $23.1M ($0.58 diluted EPS) vs $21.1M ($0.53) prior quarter
- Operating net income of $23.8M ($0.60 diluted EPS), in line with consensus of $0.60
- Net interest income increased 3.3% QoQ to $71.4M; NIM declined 3bps to 3.97%
- Gross loans grew 5.3% QoQ to $6.77B; deposits grew 3.2% to $6.52B
- Provision for credit losses decreased 61% QoQ to $1.2M on improved credit conditions
- NPLs increased 30.4% to $36.1M (0.53% of loans); net charge-offs rose to 0.31% annualized
- Quarterly dividend of $0.07 declared, payable Nov 12, 2026
- Tangible book value per share increased to $18.91 from $18.51 prior quarter
Financial Impact
Q3 2026 total revenue of $76.5M, net income of $23.1M, operating EPS $0.60 in line with consensus
Risk Factors
- NIM compression of 3bps QoQ and 6bps ex-purchase-accounting; rising deposit costs may pressure margins further
- NPLs increased 30% QoQ to $36.1M; a $12.6M CRE loan placed on non-accrual bears watching
- Efficiency ratio deteriorated to 60.5% from 58.9% as expenses grew faster than revenue
- Cannabis loan exposure of $576M and office CRE portfolio of $388M remain concentration risks
- Accumulated OCI loss widened to -$15.4M from -$8.0M due to rising rates, pressuring capital ratios
Investment Themes
Documents Analyzed
This report is based on 7 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001104659-26-116250 |
| Document: nbbk-ex99d2.htm | 0001104659-26-116250 |
| Document: nbbk-20261015x8k.htm | 0001104659-26-116250 |
| Document: 0001104659-26-116250-index-headers.html | 0001104659-26-116250 |
| Document: 0001104659-26-116250-index.html | 0001104659-26-116250 |
| Document: 0001104659-26-116250.txt | 0001104659-26-116250 |
| 8-K Data (Synthetic) | 0001104659-26-116250 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 15, 2026 12d ago | 8-K | $21.86 | awaiting T+60 | — | $22.63 (+3.52%) |
Jun 12, 2026 19w ago | Institutional Cluster | $20.62 $23.00 | ▲ +11.52% | ▲ +8.25% | $22.63 (+9.75%) |
May 21, 2026 22w ago | 8-K | $19.88 $22.91 | ▲ +15.24% | ▲ +10.94% | $22.63 (+13.83%) |
May 13, 2026 23w ago | 8-K | $19.72 $22.58 | ▲ +14.50% | ▲ +10.07% | $22.63 (+14.76%) |
Apr 24, 2026 26w ago | Insider Cluster | $19.75 $21.04 | ▲ +6.53% | ▲ +1.45% | $22.63 (+14.58%) |
Apr 22, 2026 26w ago | 8-K | $19.09 $20.98 | ▼ −9.88% | ▼ −4.86% | $22.63 (−18.52%) |
Mar 6, 2026 33w ago | Insider Cluster | $20.96 $19.69 | ▼ −6.05% | ▼ −18.83% | $22.63 (+7.98%) |
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