NB Bancorp, Inc. reported net income of $15.6 million, or $0.40 per diluted share, for the fourth quarter of 2024. This marks a substantial increase compared to the $8.4 million, or $0.21 per diluted share, reported in the prior quarter.
The company's operating net income, excluding one-time charges, amounted to $13.3 million, or $0.34 per diluted share, for the fourth quarter. This figure also represents an increase from the $13.1 million operating net income in the previous quarter.
In a move to enhance shareholder value, NB Bancorp announced the commencement of its first post-conversion share repurchase program, authorizing the repurchase of 5% of its outstanding shares. This program demonstrates the company's commitment to returning capital to shareholders and optimizing its capital structure.
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