NB Bancorp, Inc. announced its second quarter 2025 financial results, reporting net income of $14.6 million, or $0.39 per diluted common share. This represents a significant increase from the $12.7 million, or $0.33 per diluted common share, reported in the prior quarter.
Operating net income, excluding one-time charges, amounted to $15.0 million, or $0.40 per diluted common share, for the second quarter. This figure also increased from the $13.7 million, or $0.35 per diluted common share, in the first quarter.
The company's net interest income reached $47.0 million, an 8.0% increase from the prior quarter, driven by a 21 basis point expansion in net interest margin to 3.82%. Loans grew at an annualized rate of 6.8%, contributing to the strong financial performance.
In a significant move for shareholders, the Board of Directors declared a quarterly cash dividend of $0.07 per share, payable on August 20, 2025. This initiation of a regular dividend underscores the company's confidence in its sustained profitability and commitment to returning capital.
NB Bancorp also continued its share repurchase efforts, buying back over 1.1 million shares in its outstanding program at an average price of $17.08 per share. The company incurred $530 thousand in merger and acquisition costs related to the pending Provident Bancorp acquisition and made a $6.8 million investment in a solar tax credit investment during the quarter.
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