Cash flow remains robust with an OCF/NI ratio of 1.82, though management's decision to allocate $27.8M to share repurchases in 2026Q1 may limit future liquidity for organic growth.
| Cash from Operations | 78.17M | 60.79M | 43.19M | 52.9M | 39.71M | 43.84M |
| Operating CF Growth % | 263.42% | 40.76% | -18.36% | 33.2% | -9.42% | - |
| Net Income | 52.63M | 50.3M | 42.15M | 9.82M | 30.07M | 21.57M |
| Depreciation & Amortization | 4.66M | 3.6M | 2.96M | 2.83M | 2.47M | 2.1M |
| Deferred Taxes | 3.33M | 3.33M | -10.26M | -7.72M | -1.25M | 533K |
| Other Non-Cash Items | 11.87M | 5.23M | 22.41M | 16.71M | 7.57M | 3.85M |
| Working Capital Changes | -2.34M | -8.15M | -16.88M | 31.25M | 860K | 15.79M |
| Cash from Investing | -645.7M | -519.05M | -546.44M | -831.62M | -667.99M | -41.94M |
| Purchase of Investments | -125.06M | -104.15M | -142.99M | -50.31M | -191.76M | -180.44M |
| Sale/Maturity of Investments | 107.37M | 91.44M | 111.78M | 103.58M | 170.59M | 72.89M |
| Net Investment Activity | -17.7M | -12.71M | -31.2M | 53.28M | -21.17M | -107.55M |
| Acquisitions | 0 | -48.12M | 0 | 0 | 297.67M | 0 |
| Other Investing | -622.66M | -454.8M | -513.3M | -882.04M | -936M | 67.42M |
| Cash from Financing | 629.43M | 502M | 594.52M | 894.77M | 317.77M | 242.43M |
| Dividends Paid | -8.78M | -5.58M | 0 | 0 | 0 | 0 |
| Share Repurchases | -64.19M | -77.13M | 0 | -13.77M | 0 | 0 |
| Stock Issued | 0 | 0 | -33.4M | 403.68M | 0 | 0 |
| Net Stock Activity | -64.19M | -77.13M | -33.4M | 389.91M | 0 | 0 |
| Debt Issuance (Net) | 2M | 1000K | -1000K | -1000K | 1000K | -1000K |
| Other Financing | 624.46M | 540.12M | 790.42M | 514.6M | 24.95M | 362.54M |
| Net Change in Cash | 61.91M | 43.74M | 91.26M | 116.05M | -310.5M | 244.33M |
| Exchange Rate Effect | 0 | 0 | 0 | 0 | 0 | 0 |
| Cash at Beginning | 407.6M | 363.86M | 272.59M | 156.54M | 467.05M | 222.72M |
| Cash at End | 375.36M | 407.6M | 363.86M | 272.59M | 156.54M | 467.05M |
| Interest Paid | 147.38M | 143.28M | 128.35M | 88.75M | 6.58M | 0 |
| Income Taxes Paid | 6.43M | 6.06M | 13.09M | 4.79M | 8.56M | 0 |
| Free Cash Flow | 72.84M | 57.38M | 41.25M | 50.03M | 31.22M | 42.04M |
| FCF Growth % | 17.66% | 39.09% | -17.56% | 60.28% | -25.75% | - |
CRE concentration and liquidity
According to recent SEC filings, NBBK's net income reached $15.0M in 2026Q1, demonstrating an ability to generate organic capital that supports its post-conversion growth strategy, although the bank's OCF/NI ratio of 1.82 suggests that non-cash adjustments and asset-side movements remain the primary drivers of reported cash flow volatility.
The bank's ability to generate consistent net income following its mutual-to-stock conversion indicates a successful transition to public market operations. Investors should monitor whether this earnings power can be sustained as the bank scales its loan book and absorbs the higher overhead costs associated with its new regulatory status.
As reported in financial statements, NBBK's investment activity shows a consistent pattern of reinvestment, with $34.1M in purchases and $24.5M in sales during 2026Q1, suggesting that management is actively managing the duration and yield of its securities portfolio to offset the pressures of a competitive funding environment.
The frequent turnover in the investment portfolio appears to be a tactical response to interest rate fluctuations rather than a long-term strategic shift. This activity warrants further investigation to determine if the bank is successfully capturing yield premiums or merely cycling through liquidity to maintain its net interest margin.
Based on NBBK's reported figures, the bank returned $27.8M through buybacks in 2026Q1, a significant allocation that underscores management's commitment to optimizing its post-conversion capital structure despite the potential for these outflows to constrain future lending capacity if the current pace of share repurchases is maintained.
The decision to prioritize buybacks over aggressive loan growth suggests that management may be attempting to manage ROE dilution following the IPO. Investors should monitor whether this capital return pace remains sustainable without compromising the bank's ability to maintain its fortress balance sheet in a volatile CRE market.
Data from the most recent quarter shows a provision expense of $6.3M, which, when compared to historical trends, suggests a more conservative approach to credit risk management as the bank expands its commercial real estate and specialized lending portfolios in a volatile interest rate environment.
The increase in provisioning appears to be a prudent response to the bank's growing exposure to specialized lending niches. This trend may indicate that management is proactively building reserves to mitigate potential credit deterioration, which could provide a buffer against future earnings volatility if local property markets soften.
Quick answers to the most common questions about buying NBBK stock.
NB Bancorp, Inc. Common Stock (NBBK) generated $60.8M in net cash from operating activities in 2025. This reflects the cash generated directly from core business operations.
NB Bancorp, Inc. Common Stock (NBBK) generated $57.4M in free cash flow in 2025. Free cash flow is the cash left over after capital expenditures, which can be used to pay dividends, repurchase shares, or pay down debt.
NB Bancorp, Inc. Common Stock (NBBK) spent $3.4M on capital expenditures in 2025. CapEx represents the cash invested in physical assets like property, plant, and equipment to maintain or grow the business.
In 2025, NB Bancorp, Inc. Common Stock (NBBK) returned $5.6M to shareholders via cash dividends and spent $77.1M on share repurchases. This shows the company's commitment to returning capital to its equity investors.