8-K
NB Bancorp, Inc. (NBBK)
8-K
2026-02-04
For: 2026-02-04
View Original
Added on
April 12, 2026
UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549
FORM 8-K CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): February 4, 2026
NB BANCORP, INC.
(Exact Name of Registrant as Specified in Charter)
| | | | | |
|---|---|---|---|---|
| Maryland | | 001-41899 | | 93-2560883 |
| (State or Other Jurisdiction) | | (Commission File No.) | | (I.R.S. Employer |
| of Incorporation) | | | | Identification No.) |
| | | |
|---|---|---|
| | 1063 Great Plain Avenue, Needham, Massachusetts | 02492 |
| | (Address of Principal Executive Offices) | (Zip Code) |
Registrant’s telephone number, including area code: (781) 444-2100
Not Applicable(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
| ☐ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
|---|---|
| ☐ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| --- | --- |
| ☐ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| --- | --- |
| ☐ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
| --- | --- |
Securities registered pursuant to Section 12(b) of the Act:
| | | |||
|---|---|---|---|---|
| Title of each class | | Trading Symbol(s) | | Name of each exchange on which registered |
| Common Stock, Par Value $0.01 Per Share | | NBBK | | The Nasdaq Stock Market, LLC |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☒
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
| Item 8.01 | OTHER EVENTS |
|---|
On February 4, 2026, NB Bancorp, Inc. (the “Company”), the parent company of Needham Bank, made available a slide presentation at an in-person investors bank meeting. The presentation materials include information regarding the Company’s operations and financial performance. The slide presentation is included in this Current Report on Form 8-K as Exhibit 99.1 and is incorporated herein by reference.
| Item 9.01 | Financial Statements and Exhibits. | |
|---|---|---|
| (d) | Exhibits | |
| --- | --- | |
| | | |
| --- | --- | --- |
| Exhibit No. | | Description |
| 99.1 | | Presentation Materials of NB Bancorp, Inc. dated February 4, 2026 |
| 104 | | Cover Page Interactive Data File (Embedded within Inline XBRL document) |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized.
| | | |
|---|---|---|
| | | NB BANCORP, INC. |
| | | |
| DATE: February 4, 2026 | By: | /s/Jean-Pierre Lapointe |
| | | Senior Executive Vice President and Chief Financial Officer |
Exhibit 99.1
| 1<br>February 4, 2026<br>Janney<br>Investor<br>Conference |
|---|
| 2<br>Forward Looking Statements<br>Statements in this press release that are not historical facts are forward-looking statements within the meaning of Section 27A of the<br>Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and are intended to be covered<br>by the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. We may also make forward-looking statements in<br>other documents we file with the Securities and Exchange Commission (the “SEC”), in our annual reports to our stockholders, in press<br>releases and other written materials, and in oral statements made by our officers, directors or employees. You can identify forward-looking statements by the use of the words “believe,” “expect,” “anticipate,” “intend,” “estimate,” “assume,” “outlook,” “will,” “should,”<br>and other expressions that predict or indicate future events and trends and which do not relate to historical matters. Although the<br>Company believes that these forward-looking statements are based on reasonable estimates and assumptions, they are not guarantees of<br>future performance and are subject to known and unknown risks, uncertainties, and other factors. You should not place undue reliance on<br>our forward-looking statements. You should exercise caution in interpreting and relying on forward-looking statements because they are<br>subject to significant risks, uncertainties and other factors which are, in some cases, beyond the Company’s control. The Company’s<br>actual results could differ materially from those projected in the forward-looking statements as a result of, among other factors, changes in<br>general business and economic conditions on a national basis and in the local markets in which the Company operates, including changes<br>which adversely affect borrowers’ ability to service and repay loans; changes in customer behavior due to political, business and<br>economic conditions, including inflation and concerns about liquidity; turbulence in the capital and debt markets; reductions in net<br>interest income resulting from interest rate volatility as well as changes in the balances and mix of loans and deposits; changes in interest<br>rates and real estate values; changes in loan collectability and increases in defaults and charge-off rates; decreases in the value of<br>securities and other assets, adequacy of credit loss reserves, or deposit levels necessitating increased borrowing to fund loans and<br>investments; risks related to the Company’s acquisitions generally, including disruption to current plans and operations; difficulties in<br>customer and employee retention; fees, expenses and charges related to these transactions being significantly higher than anticipated;<br>unforeseen integration issues or impairment of other intangibles; and the Company’s inability to achieve expected revenues, cost savings,<br>synergies, and other benefits at levels or within the timeframes originally anticipated; changing government regulation; competitive<br>pressures from other financial institutions; changes in legislation or regulation and accounting principles, policies and guidelines;<br>cybersecurity incidents, fraud, natural disasters, and future pandemics; the risk that the Company may not be successful in the<br>implementation of its business strategy; the risk that intangibles recorded in the Company’s financial statements will become impaired;<br>changes in assumptions used in making such forward-looking statements; and the other risks and uncertainties detailed in the Company’s<br>Form 10-K and updated by our Quarterly Report on Form 10-Q and other filings submitted to the SEC. These statements speak only as of<br>the date of this release and the Company does not undertake any obligation to update or revise any of these forward-looking statements to<br>reflect events or circumstances occurring after the date of this communication or to reflect the occurrence of unanticipated events.<br>2 |
| --- |
| 3<br>NB Bancorp, Inc. Overview |
| --- |
| 4<br>Overview of NB Bancorp, Inc.<br>NASDAQCM: NBBK<br>Headquartered: Needham, MA<br>IPO: December 2023; Raised<br>~$410M in gross proceeds<br>BankProv: Acquisition Closed<br>November 15, 2025<br>Sixth largest public community bank<br>headquartered in Massachusetts<br>The “Builder’s Bank” with deep<br>community relationships and<br>extensive expertise<br>Full-service bank with an array of<br>commercial banking products for<br>retail and business customers<br>Founded in 1892 to help<br>businesses and customers build<br>their futures<br>Total<br>Assets<br>$7.0B<br>Total<br>Gross<br>Loans<br>$6.0B<br>Total<br>Deposits<br>$5.9B<br>Total<br>Equity<br>$859M<br>TCE/<br>TA<br>11.81%²<br>Tier 1<br>Leverage<br>Ratio<br>13.30%¹<br>Tier 1<br>Capital<br>Ratio<br>12.80%¹<br>Total<br>Capital<br>Ratio<br>14.18%¹<br>Q4’25<br>Operating<br>ROAA<br>1.35%²<br>Q4’25<br>Operating<br>ROATCE<br>10.82%²<br>Q4’25<br>NIM<br>3.92%<br>Q4’25<br>Operating<br>Efficiency<br>Ratio<br>53.19%²<br>Balance Sheet<br>Profitability<br>Capital<br>1) Financials reflect regulatory holding company data; estimated prior to filing of call report<br>2) See Appendix for reconciliation of non-GAAP financial metrics 4 |
| --- |
| 5<br>Performance Post-IPO<br>5 1) See Appendix for reconciliation of non-GAAP financial metrics<br>• Asset Growth in $M +54.4% • Deposits in $M +50.5% • Operating EPS1 +415.4%<br>• Net Interest Margin YTD +12.6% • Operating ROAA1 +56.8% • Share Price +98.2%<br>$4,533<br>$7,001<br>IPO Q4'25<br>$3,889<br>$5,854<br>IPO Q4'25<br>$0.26<br>$1.20<br>IPO Q4'25<br>3.48%<br>3.92%<br>IPO Q4'25<br>0.86%<br>1.35%<br>IPO Q4'25<br>$10.00<br>$19.82<br>IPO Q4'25 |
| --- |
| 6<br>1) Excludes banks with total assets greater than $10 billion; FDIC deposit data as of June 30, 2025<br>Source: S&P Capital IQ Pro<br>Well Positioned in Highly Attractive<br>Markets<br>Our branch network covers the metro-west area of Boston, southern New Hampshire and surrounding communities which are our<br>primary deposit market areas. We consider our primary lending market area to be the Greater Boston metropolitan area and surrounding<br>communities in Massachusetts, eastern Connecticut, southern New Hampshire and Rhode Island.<br>6<br>Boston-Cambridge-Newton, MA-NH MSA<br>Total Population: 5,065,382<br>‘26-’31 Proj. Pop. Change: 2.14%<br>Median HHI: $121,960<br>Proj. HHI Change: 12.10%<br>Manchester-Nashua, NH MSA<br>Total Population: 431,907<br>‘26-’31 Proj. Pop. Change: 1.40%<br>Median HHI: $113,649<br>Proj. HHI Change: 10.83%<br>MA<br>NH<br>Springfield<br>Manchester<br>Concord<br>Boston<br>Lowell<br>Plymouth<br>NBBK (18)<br>Keene<br>Gardner<br>Brockton<br>Pittsfield<br>Worcester<br>Gloucester<br>Dover<br>Boston MSA Community Bank Deposit Market Share¹<br>Total Deps.<br>2024 2025 in Market<br>Rank Rank Institution ($M)<br>2 1 Salem Five Bancorp 5,752<br>1 2 Cambridge Financial Group Inc. 5,410<br>3 3 NB Bancorp Inc. 5,246<br>4 4 Middlesex Bancorp MHC 4,755<br>6 5 Leader Bancorp Inc. 4,146<br>5 6 Charlesbridge MHC 4,019<br>7 7 IFS 1820 Bancorp MHC 3,261<br>9 8 Hometown Financial Group MHC 2,685<br>8 9 Northern Bancorp Inc. 2,669<br>11 10 River Run Bancorp MHC 2,294<br>All Other Market Participants 31,326<br>Market Total 71,564<br>Manchester MSA Community Bank Deposit Market Share¹<br>Total Deps.<br>2024 2025 in Market<br>Rank Rank Institution ($M)<br>1 1 Primary Bank 575<br>2 2 NB Bancorp Inc. 307<br>3 3 Bar Harbor Bankshares 248<br>4 4 BNH Financial 248<br>5 5 Millyard Bank 229<br>6 6 Bank of New England 111<br>9 7 Bangor Bancorp MHC 73<br>7 8 New Hampshire Mutual Bancorp 65<br>8 9 Lowell Five Bancorp MHC 63<br>11 10 Camden National Corp. 54<br>All Other Market Participants 54<br>Market Total 2,028<br>1) Excludes banks with total assets greater than $10 billion; FDIC deposit data as of June 30, 2025<br>Source: S&P Capital IQ Pro |
| --- |
| 7<br>Strength of Growing Deposit Base<br>Over the two-year period ended June 30, 2025, each Needham Bank branch experienced growth that<br>matched or exceeded growth in its respective market. In aggregate, Needham Bank achieved growth<br>at over 5 times the overall market growth during this period.<br>Branch June 2023 - June 2025 NB Deposit Growth June 2023 - June 2025 Market Growth* NB Performance<br>Needham Main Office 15% 9% 168%<br>Ashland 47% 13% 373%<br>Dedham 36% 25% 146%<br>Dover 25% 26% 99%<br>Medfield 23% 1% 2106%<br>Medford Retail 140% 39% 361%<br>Millis 51% 27% 187%<br>Mission Hill** 111% 0% N/A<br>Natick 53% 4% 1497%<br>Wellesley** 23% -22% N/A<br>Westwood 33% 23% 144%<br>All NB Branches (Excludes BP) 30% 6% 504%<br>*Market Grow th Source: S&P Capital IQ<br>**Incalculable as market contracted or did not grow |
| --- |
| 8<br>Largest Employers Boston MSA 2026-2031 Projected HHI Δ<br>Massachusetts 2024 GDP by Industry Boston MSA Median HHI ($)<br>Industry Drivers of Local Market<br>1) Other industries include accommodation and food services, waste management<br>and remediation services, educational services, management of companies,<br>transportation and warehousing, utilities, arts and entertainment.<br>Source: S&P Capital IQ Pro; U.S. Bureau of Economic Analysis; Massachusetts Department<br>of Economic Research<br>8 |
| --- |
| 9<br>Experienced Institutional Leadership<br>Joseph Campanelli<br>Chairman, President & CEO<br>William Darcey<br>President & CEO – Provider<br>Insurance Group<br>Paul J. Ayoub<br>Chair – Nutter McClennen & Fish<br>LLP<br>Susan Elliott<br>Retired EVP – Federal Home<br>Loan Bank of Boston<br>Angela Jackson<br>CEO – Future Forward Strategies<br>Christopher Lynch<br>President – Marshall Resources<br>Joseph R. Nolan, Jr.<br>Chairman, President & CEO –<br>Eversource<br>Francis Orfanello<br>Lead Independent Director<br>Operating Partner – One Rock<br>Capital Partners<br>Hope Pascucci<br>President & Principal – Rose<br>Grove Capital Management<br>Raza Shaikh<br>Managing Director – Launchpad<br>Venture Group<br>Mark Whalen<br>Retired CEO – Needham Bank<br>Joseph<br>Campanelli<br>Chairman,<br>President & CEO<br>Christine<br>Roberts<br>SEVP & Chief<br>Operating Officer<br>James White<br>EVP & Chief Administrative<br>Officer<br>Paul Evangelista<br>EVP & Director of Consumer<br>Payments<br>Kevin Henkin<br>EVP & Chief Credit Officer<br>Stephanie Maiona<br>EVP, Director of Commercial<br>Real Estate<br>James Daley<br>EVP, Director Commercial and<br>Industrial<br>Executive Management Board of Directors<br>JP<br>Lapointe<br>SEVP & Chief<br>Financial Officer<br>9<br>Kenneth Montgomery<br>Retired FVP, COO – Federal<br>Reserve Bank of Boston<br>Matt Richardson<br>EVP, Treasury & Cash<br>Management Services<br>Joseph Reilly<br>Former President & CEO –<br>Provident Bancorp, Inc. &<br>BankProv |
| --- |
| 10<br>Investment Highlights<br>Experienced management team and talent base to grow market share, invest for the future and serve the community<br>Focused on driving franchise value via relationship-based banking and active community involvement<br>History of consistent earnings through various market cycles<br>Excellent credit profile reflective of a diligent and conservative risk management culture<br>Prudent stewards of capital – committed to responsible lending, driving organic growth and investing in the future<br>Strong and stable deposit base with 130+ year history of banking in the communities served<br>Attractive markets of operation to continue generating core loans and deposits<br>10 |
| --- |
| 11<br>BankProv Acquisition<br>Needham BankProv Purchase Accounting Adjustments Combined<br>Cash $ 367.2 $ 80.6 $ (111.8) $ 336.0<br>Investments 235.2 24.4 - 259.6<br>Total Loans 4,814.8 1,259.7 (33.1) 6,041.4<br>Allowance for Credit Losses (44.7) (20.2) (27.7) (92.6)<br>Loans, net 4,770.1 1,239.5 (60.8) 5,948.8<br>Bank-owned Life Insurance 56.6 47.1 - 103.7<br>Other Assets 184.6 39.2 9.7 233.5<br>Core Deposit Intangible 1.0 - 18.8 19.8<br>Goodwill - - 16.4 16.4<br>Total Assets $ 5,614.7 $ 1,430.8 $ (127.7) $ 6,917.8<br>Core Deposits $ 4,216.2 $ 1,014.3 $ - $ 5,230.5<br>Brokered Deposits 437.9 120.0 - 557.9<br>Borrowings 138.3 29.4 (1.4) 166.3<br>Other Liabilities 76.1 26.2 - 102.3<br>Shareholders' Equity 746.2 240.9 (126.3) 860.8<br>Total Liabilities and Shareholders' Equity $ 5,614.7 $ 1,430.8 $ (127.7) $ 6,917.8<br>Amounts as of November 15, 2025<br>($ in millions) |
| --- |
| 12<br>BankProv Acquisition Results<br>12<br>Pro<br>Forma<br>Actual at<br>12/31/25 $ Change<br>.<br>0 % Change<br>(Dollars in millions)<br>Total Assets (Combined) $7,100 $7,001 $(99) -1.39%<br>Total Loans (Combined) $6,100 $5,986 $(246) -1.87%<br>Total Deposits (Combined) $5,900 $5,854 $(46) -0.78%<br>Tangible Equity (Combined) $800 $823 $23 2.88%<br>Tangible Book Value Dilution 6.10% 5.30% (0.80%) -13.11%<br>Share Price at Closing $16.62 $19.29 $2.67 16.06%<br>Acquisition Expenses (pre-tax) $19.7 $17.3 $(2.4) -12.39%<br>(BPG) / Goodwill $(12.2) $16.8 $29.0 -237.62% |
| --- |
| 13<br>Financial Highlights for the Fourth<br>Quarter 2025<br>• GAAP Net income of $7.7 million, or $0.19 per diluted share for the quarter.<br>• Operating Net Income1 (Non-GAAP) of $21.2 million, or $0.51 per diluted share for the quarter.<br>• Gross loans increased $1.27 billion, or 26.9%, to $6.0 billion, from $4.72 billion in the prior quarter;<br>$1.23 billion driven by the BankProv acquisition, along with $43.6 million of organic growth.<br>• The net interest margin expanded 14 basis points to 3.92%, primarily the result of increased average<br>loan balances and related purchase interest rate mark accretion.<br>• Asset quality remains strong:<br>• Annualized Q4 net charge-offs of 0.32% of average total loans and non-performing loans of $43.4<br>million, or 0.72% of total loans.<br>• Increase in annualized net charge offs was driven by a $3.8 million charge off on a previously reserved for<br>commercial and industrial loan<br>• Increase in non-performing loans is a result of the purchased credit-deteriorated loans acquired from<br>BankProv.<br>• Release of credit losses was $1.1 million, down from a $1.4 million provision in the prior quarter,<br>primarily from the transfer of a $66.4 million consumer portfolio to loans held for sale and a $3.8<br>million charge of off a previously reserved for commercial and industrial loan.<br>• ACL decreased by $4.4 million during the quarter, primarily from the transfer of a $66.4 million<br>consumer portfolio to loans held for sale and a $3.8 million charge of off a previously reserved for<br>commercial and industrial loan.<br>• Resulting in an increased coverage ratio of 1.42% of total loans, compared to 0.91% in the prior quarter;<br>mainly due to $33.9 million in reserves on purchased credit-deteriorated loans acquired from BankProv.<br>1) See Appendix for reconciliation of non-GAAP financial metrics<br>13 |
| --- |
| 14<br>Financial Highlights for the Fourth<br>Quarter 2025 (Continued)<br>• Total core deposits increased $1.14 billion or 27.3% from the prior quarter, to $5.32 billion, primarily<br>driven by acquired BankProv deposits of $1.01 billion, along with organic growth in customer<br>certificates of deposit of $53.8 million and NOW accounts of $53.1 million.<br>• The loans to deposit ratio decreased 1 percentage point to 102% from the prior quarter while loans<br>grew $1.27 billion.<br>• Borrowings and brokered deposits totaled 10.5% of total assets, which is 254 bps higher than the<br>prior quarter, resulting primarily from utilizing more brokered deposits and FHLB advances for<br>liquidity needs, including the cash used for the BankProv acquisition.<br>• Strong capital position with 12.3% shareholders equity to total assets and 11.8% tangible<br>shareholders' equity to tangible assets¹.<br>• Book value and tangible book value per share were $18.77 and $17.98¹, respectively.<br>• One-time transactions recorded during the quarter included:<br>• Acquisition costs of $15.7 million ($11.4 million net of tax) related to the completed BankProv<br>acquisition that closed on November 15, 2025; and<br>• Tax expense and modified endowment contract penalty of $2.1 million related to the surrender of<br>bank-owned life insurance policies acquired from BankProv.<br>1) See Appendix for reconciliation of non-GAAP financial metrics<br>14 |
| --- |
| 15<br>Financial Overview |
| --- |
| 16<br>Total Deposits ($M) Tangible Common Equity ($M)<br>Total Assets ($M) Total Gross Loans ($M)<br>Targeted Balance Sheet Growth<br>16<br>$2,999 $2,923 $3,592<br>$4,533 $5,158 $5,242 $5,227 $5,442<br>$7,001<br>2020 2021 2022 2023 2024 Q1'25 Q2'25 Q3'25 Q4'25<br>$2,195 $2,105<br>$3,015<br>$3,889 $4,333 $4,465 $4,541 $4,716<br>$5,986<br>2020 2021 2022 2023 2024 Q1'25 Q2'25 Q3'25 Q4'25<br>$2,202 $2,565 $2,887 $3,387<br>$4,178 $4,327 $4,268 $4,566<br>$5,854<br>2020 2021 2022 2023 2024 Q1'25 Q2'25 Q3'25 Q4'25<br>$307 $326 $343<br>$757 $765 $739 $736 $736 $823<br>2020 2021 2022 2023 2024 Q1'25 Q2'25 Q3'25 Q4'25 |
| --- |
| 17<br>Operating Return on Avg. Tangible Common<br>Equity (%)1, 2 Operating Net Income ($M)1, 2<br>Operating Return on Average Assets (%)¹ Operating Return on Average Equity (%)¹<br>Track Record of Strong Performance<br>1) See Appendix for reconciliation of non-GAAP financial metrics<br>2) Q1 through Q4 ’25 operating net income reflects annualized totals 17<br>0.55%<br>0.77%<br>0.96% 0.86% 0.95%<br>1.08% 1.17% 1.20%<br>1.35%<br>2020 2021 2022 2023 2024 Q1'25 Q2'25 Q3'25 Q4'25<br>4.69%<br>6.81%<br>9.06% 9.40%<br>6.09%<br>7.33% 8.09% 8.70%<br>10.51%<br>2020 2021 2022 2023 2024 Q1'25 Q2'25 Q3'25 Q4'25<br>4.69%<br>6.81%<br>9.08%9.43%<br>6.11%7.34%8.10%8.71%<br>10.82%<br>2020 2021 2022 2023 2024 Q1'25 Q2'25 Q3'25 Q4'25<br>$14.1 $21.6 $30.1 $34.3<br>$45.5 $55.5 $60.3 $64.2<br>$84.1<br>2020 2021 2022 2023 2024 Q1'25 Q2'25 Q3'25 Q4'25 |
| --- |
| 18<br>Operating Noninterest Income / Average Assets (%)¹ Operating Noninterest Expense / Average Assets (%)¹<br>Net Interest Margin (%) Operating Efficiency Ratio (%)¹<br>Track Record of Strong Performance<br>(Cont.)<br>1) See Appendix for reconciliation of non-GAAP financial metrics<br>18<br>2.83% 2.81%<br>3.49% 3.41% 3.53% 3.61% 3.82% 3.78% 3.92%<br>2020 2021 2022 2023 2024 Q1'25 Q2'25 Q3'25 Q4'25<br>66.4% 65.8% 62.3% 62.5% 58.2% 57.9% 56.2% 58.1% 53.2%<br>2020 2021 2022 2023 2024 Q1'25 Q2'25 Q3'25 Q4'25<br>0.33%<br>0.27% 0.26%<br>0.31% 0.28% 0.30% 0.32%<br>0.28% 0.28%<br>2020 2021 2022 2023 2024 Q1'25 Q2'25 Q3'25 Q4'25<br>2.01%2.00%<br>2.28%2.29%<br>2.12%2.16%<br>2.23%2.27%<br>2.14%<br>2020 2021 2022 2023 2024 Q1'25 Q2'25 Q3'25 Q4'25 |
| --- |
| 19<br>11.28%¹<br>17.41%²16.27%²16.16%²15.59%²<br>14.18%²<br>2020 2021 2022 2023 2024 Q1'25 Q2'25 Q3'25 Q4'25<br>10.54%¹<br>16.51%² 15.40%² 15.24%² 14.68%²<br>12.80%²<br>2020 2021 2022 2023 2024 Q1'25 Q2'25 Q3'25 Q4'25<br>Tier 1 Capital Ratio (%) Total Capital Ratio (%)<br>Tangible Common Equity / Tangible Assets (%) Leverage Ratio (%)<br>Capital Ratios (Indicative)<br>1) Financials reflect indicative bank level call report data<br>2) Financials reflect indicative regulatory holding company data<br>Note: “NR” stands for “Not Reported” denoting the Bank’s election into the Community<br>Bank Leverage Ratio framework; See Appendix for reconciliation of non-GAAP financial<br>metrics<br>NR NR NR NR NR NR<br>19<br>11.54%² 11.16%²<br>9.54%²<br>16.70%²<br>14.82%² 14.09%² 14.09%² 13.53%²<br>11.81%²<br>2020 2021 2022 2023 2024 Q1'25 Q2'25 Q3'25 Q4'25<br>12.01%¹ 11.23%¹ 10.49%¹<br>17.71%²<br>15.29%²14.48%²14.32%²14.00%²13.25%²<br>2020 2021 2022 2023 2024 Q1'25 Q2'25 Q3'25 Q4'25 |
| --- |
| 20<br>Loan Portfolio & Asset Quality |
| --- |
| 21<br>Note: Loan composition reflects regulatory holding company data<br>Diversified Loan Portfolio<br>Q4’25 Yield on Loans: 6.71%<br>$6.0B<br>Q4’25 Total<br>21<br>Commercial Real<br>Estate<br>32%<br>1-4 Family<br>including<br>HELOCs<br>22%<br>Commercial &<br>Industrial<br>17%<br>Construction &<br>Development<br>12%<br>Multifamily<br>9%<br>Mortgage<br>Warehouse<br>5%<br>Consumer<br>3% |
| --- |
| 22<br>Mortgage Warehouse Portfolio Overview<br>• Our $285.9 million mortgage warehouse lending portfolio, acquired from BankProv, consists of<br>facility lines to non-bank mortgage origination companies (“originators”).<br>o It is a national platform with relationships across the United States that offers Master<br>Repurchase Agreement facilities (“Facilities”) to independent originators, which allow them to<br>fund the closing of residential mortgage loans.<br>o Each Facility advance is fully collateralized, typically by a security interest in one- to four-family<br>residential mortgage loans and is further enhanced by deposit balances.<br>o The primary source of repayment of the facilities is the sale of the underlying mortgage loans to<br>outside investors, which typically occurs within 15 days, except for construction-to-permanent<br>loans, which generally take longer to sell due to the nature of the loan. These investors can<br>include Federal National Mortgage Association/Federal Home Loan Mortgage Corporation and<br>Government National Mortgage Association, as well as other large financial institutions.<br>• The credit risk associated with this type of lending is the risk that the originators are unable to sell<br>the loans, which is very low. The entire portfolio is current as of December 31, 2025.<br>• We approve facilities to originators by conducting a thorough due diligence review of the originator<br>and its ownership to assess their financial liquidity and regulatory risk profiles. We use a proprietary,<br>risk-based scoring model to underwrite the companies, which correlates to our internal loan risk<br>rating system and continually monitor originators’ performance through both internal and external<br>financial management and quality reviews.<br>22 |
| --- |
| 23<br>Enterprise Value (“EV”) Portfolio<br>• Our C&I portfolio includes a $187.7 million EV portfolio, acquired from BankProv. The EV portfolio<br>consists of loans and lines to entities collateralized by the cash flows and underlying enterprise value<br>of the borrowing entity.<br>• This portfolio has loans across the country and is geographically disperse.<br>• The balance of this portfolio as of the date of the BankProv acquisition was $207.0 million. The<br>portfolio has paid down $19.3 million in the short time since acquisition, with no charge-offs during<br>this time.<br>• The credit risk associated with this type of lending is the risk that the cash flows of the entity<br>significantly decrease and do not provide for the ability to repay the remaining balance of the loan.<br>• Management monitors this portfolio very closely and has been in close contact with predominantly<br>all of the borrowing entities since acquisition.<br>• Of the $39.9 million of purchase-credit deteriorated fair value marks recorded, $28.8 million was<br>related to the EV portfolio. |
| --- |
| 24<br>Loan balances above are not shown net of deferred fees<br>Loan Portfolio Stats – December 31, 2025<br>Loan Type Balance Wtd. Avg.<br>Rate<br>Wtd. Avg.<br>Maturity<br>(Yrs)<br>Fixed<br>Rate (%)<br>Variable<br>Rate (%)<br>Commercial<br>Real Estate<br>$1,924,043 6.13% 10.0 18.9% 81.1%<br>1-4 Family (incl.<br>HELOCs)<br>$1,329,758 5.28% 25.5 42.7% 57.3%<br>Construction $1,007,669 7.69% 5.4 19.2% 80.8%<br>C&I $730,573 6.50% 6.5 27.6% 72.4%<br>Multi-family $517,527 5.78% 16.1 3.8% 96.2%<br>Mortgage<br>Warehouse<br>$280,909 6.51% N/A 0.0% 100.0%<br>Consumer $203,497 8.70% 11.3 97.7% 2.3%<br>Total Loans $5,993,976 6.32% 12.4 26.8% 73.2%<br>24 |
| --- |
| 25<br>Construction & Development / Total Indicative Risk-Based Capital (%)¹<br>Commercial Real Estate / Total Indicative Risk-Based Capital (%)¹<br>Loan Portfolio Concentrations<br>1) Financials reflect regulatory holding company data<br>25<br>280% 277%<br>342%<br>187% 202% 220% 241% 252%<br>308%<br>2020 2021 2022 2023 2024 Q1'25 Q2'25 Q3'25 Q4'25<br>125% 129% 144%<br>79% 72% 82% 93% 83% 90%<br>2020 2021 2022 2023 2024 Q1'25 Q2'25 Q3'25 Q4'25 |
| --- |
| 26<br>Owner-Occupied CRE By Collateral Type Non-Owner-Occupied CRE By Collateral Type<br>Commercial Real Estate Portfolio<br>$665M<br>Q4’25 Total<br>$1.78B<br>Q4’25 Total<br>26<br>Cannabis<br>Facility<br>31%<br>Industrial<br>23%<br>Other<br>15%<br>Special<br>Purpose<br>13%<br>Retail<br>7%<br>Office<br>6%<br>Hospitality<br>6%<br>Multi-Family<br>29%<br>Office<br>14%<br>Hospitality<br>14%<br>Mixed Use<br>11%<br>Industrial<br>9%<br>Other<br>6%<br>Retail<br>6%<br>Recreational<br>Vehicles<br>Park<br>4%<br>Self-Storage<br>Facilities<br>4%<br>Special<br>Purpose<br>4%<br>Cannabis Facility<br>1% |
| --- |
| 27<br>Loans Needham Bank Makes<br>Loans Needham Bank Doesn’t<br>Make<br>Needham Bank CRE Loan Examples<br>27 |
| --- |
| 28<br>Office Portfolio Overview<br>• Our $310.4 million office portfolio consists principally of suburban Class A and B office space used as<br>medical and traditional offices. The portfolio does not consist of high-rise towers located in Boston.<br>$310M<br>Q4’25 Total<br>28<br>Office Portfolio as of 12/31/2025<br>Weighted Average<br>Rate<br>Weighted Average<br>Maturity (Yrs)<br>Weighted Average<br>LTV<br>Weighted Average<br>DSCR<br>5.81% 8.35 49.8% 1.84X<br>Non-Owner-Occupied -<br>Office<br>62%<br>Non-Owner-Occupied -<br>Medical<br>Office<br>17%<br>Owner-Occupied -<br>Office<br>12%<br>Construction -<br>Office<br>6%<br>Construction -<br>Medical<br>Office<br>2%<br>Owner-Occupied -<br>Medical Office<br>1% |
| --- |
| 29<br>C&I By Type C&I By Geography<br>Overview of C&I Portfolio<br>$1.01B<br>Q4’25 Total<br>$1.01B<br>Q4’25 Total<br>29<br>Structured<br>Finance<br>16%<br>Middle Market<br>15%<br>Cannabis Bridge<br>Financing<br>12%<br>Bridge<br>Financing<br>5%<br>Cannabis<br>2%<br>Small Business / Other<br>31%<br>Boston<br>9%<br>Newport Beach, CA<br>9%<br>New York, NY<br>6%<br>Miami, FL<br>6%<br>Vero Beach,<br>FL<br>5%<br>Chicago, IL<br>Salem, NH 5%<br>4%<br>Sherman<br>Oaks, CA<br>4%<br>Other<br>53% |
| --- |
| 30<br>Construction By Type Construction By Geography<br>Overview of Construction Lending<br>$731M<br>Q4’25 Total<br>$731M<br>Q4’25 Total<br>30<br>Boston, MA<br>12%<br>Weston, MA<br>7%<br>Fairfield, CT<br>7%<br>Milton, MA<br>7%<br>Newton, MA<br>6%<br>Salem, NH<br>5% Natick, MA<br>5%<br>Cambridge,<br>MA<br>4%<br>Cranston, RI<br>4%<br>Wyoming,<br>RI<br>3%<br>Other<br>Condos 39%<br>31%<br>Multi-Family<br>20% Single Family<br>11%<br>Mixed Use<br>10%<br>Land<br>8%<br>Special<br>Purpose<br>6%<br>Hotel /<br>Motel<br>5%<br>Office<br>3%<br>Other<br>5% |
| --- |
| 31<br>Consumer Loans Overview<br>Amounts above exclude purchased premiums or discounts 31<br>Loan Type Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025<br>Purchased:<br>Solar $50,327 $48,494 $47,006 $45,678 $44,410<br>Boat Loans 50,020 47,455 45,010 42,487 238<br>Home Improvement 44,443 42,472 40,042 37,753 35,832<br>Student Loans 6,996 6,472 6,139 5,768 5,455<br>Total Purchased Balance $151,786 $144,893 $138,197 $131,686 $85,935<br>Originated:<br>Auto Loans $52,092 $61,796 $55,589 $68,307 $75,560<br>Boat Loans 36,776 39,508 52,535 57,570 35,967<br>Other 3,904 6,127 7,385 5,696 6,035<br>Total Originated Balance $92,772 $107,431 $115,509 $131,573 $117,562<br>Net Charge Offs -<br>Purchased (3ME) $590 $1,018 $709 $458 $1,130<br>Net Charge Offs -<br>Originated (3ME) $91 $347 $207 $144 $8 |
| --- |
| 32<br>Consumer Loans Trends<br>32<br>$0<br>$500<br>$1,000<br>$1,500<br>$2,000<br>$2,500<br>$3,000<br> $-<br> $20,000<br> $40,000<br> $60,000<br> $80,000<br> $100,000<br> $120,000<br> $140,000<br> $160,000<br>Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025<br>Balance (thousands)<br>Period<br>Overview of Purchased Consumer Loans<br>Net Charge Offs - Purchased (3ME) Net Charge Offs - Originated (3ME) Total Purchased Balance Total Originated Balance |
| --- |
| 33<br>Cannabis Business Highlights<br>• As of December 30, 2025, we had outstanding loan balances of $404.9 million to cannabis<br>businesses:<br>• $228.8 million was direct to cannabis entities<br>• $176.1 million was indirect to cannabis entities;<br>• Weighted average LTV and DSCR was 49.2% and 2.95, respectively; and,<br>• 65.0% of the total outstanding loans were collateralized by real estate, including 100% of the<br>direct cannabis loans<br>• As of December 30, 2025, the Company had $453.0 million in cannabis deposits<br>• $367.9 million in cannabis-direct and $85.1 million in cannabis-indirect<br>Cannabis Business Loans ($M) Cannabis Business Deposits ($M)<br>33<br>$358.7M $395.2M $413.8M $408.9M<br>$466.8M $453.0M<br>09/2024 12/2024 03/2025 06/2025 09/2025 12/2025<br>65.9% 70.0% 70.5% 60.7% 61.8% 56.5%<br>34.1% 30.0% 29.5%<br>39.3% 38.2% 43.5%<br>09/2024 12/2024 03/2025 06/2025 09/2025 12/2025<br>Cannabis Direct Cannabis Indirect |
| --- |
| 34<br>Reserves / Loans (%) & Reserves / NPLs (%)<br>NPA Trends<br>Asset Quality<br>1) Financials reflect bank level call report data<br>2) Financials reflect regulatory holding company data<br>1.10%¹ 0.56%¹ 0.24%² 0.36%¹<br>NPAs / Assets<br>34<br>0.27%² 0.22%² 0.24%² 0.21%² 0.62%²<br>0.90% 0.87% 0.83%<br>0.83% 0.89% 0.86% 0.94% 0.91%<br>1.42%<br>68% 175%<br>117%<br>298% 280% 337% 341% 379%<br>196%<br>0.00<br>100.00<br>200.00<br>300.00<br>400.00<br>0.50%<br>1.00%<br>1.50%<br>2020 2021 2022 2023 2024 Q1'25 Q2'25 Q3'25 Q4'25<br>Reserves / Loans Reserves / NPLs |
| --- |
| 35<br>1) Reflects annualized metrics<br>Note: Values may not sum due to rounding<br>Historically Strong Credit Culture<br>NCOs / Average Loans (%)¹<br>• Our loan portfolio consists primarily of commercial real estate and multifamily loans, one-to four-family residential real estate loans, construction and land development loans, commercial and<br>industrial loans and consumer loans. These loans are primarily made to individuals and businesses<br>located in our primary lending market area, which is the Greater Boston metropolitan area and<br>surrounding communities in Massachusetts, Eastern Connecticut, Southern New Hampshire and<br>Rhode Island.<br>• For the quarter ended December 30, 2025, the Company’s NCOs / Average Loans were<br>primarily composed of a $3.8 million charge off of a previously reserved for commercial and<br>industrial loan and purchased consumer loans.<br>35<br>0.10 0.16<br>0.00 0.10<br>0.22<br>0.12<br>0.00 0.05<br>0.32<br>(0.10%)<br>0.20%<br>0.50%<br>0.80%<br>2020 2021 2022 2023 2024 Q1'25 Q2'25 Q3'25 Q4'25 |
| --- |
| 36<br>Funding & Liquidity Management |
| --- |
| 37<br>Note: Deposit composition reflects regulatory holding company data<br>Balanced Deposit Base<br>Q4’25 Cost of Deposits: 2.86%<br>$5.9B<br>Q4’25 Total<br>37<br>Savings &<br>MMDA<br>32%<br>Jumbo<br>CDs<br>25%<br>Transaction<br>25%<br>Retail CDs<br>9%<br>Brokered CDs<br>9% |
| --- |
| 38<br>Note: Deposit composition reflects regulatory holding company data<br>Support of Strong Deposit Base<br>Cost of Deposits<br>38<br>1.03% 0.43% 0.48%<br>2.34%<br>3.28% 3.11% 3.00% 2.92% 2.86%<br>0.00%<br>2.00%<br>4.00%<br>6.00%<br>2020 2021 2022 2023 2024 Q1'25 Q2'25 Q3'25 Q4'25 |
| --- |
| 39<br>Note: Deposit composition reflects regulatory holding company data<br>Certificates of Deposit Maturities<br>39<br>Time Deposit Maturities ($M)<br>Brokered Deposit Maturities ($M)<br>4.12%<br>4.10%<br>4.04%<br>3.69% 3.08%<br>$0<br>$500<br>$1,000<br>03/2026 06/2026 09/2026 12/2026 03/2027<br>3.94%<br>0.00% 0.00% 3.88% 0.0%<br>$0<br>$100<br>$200<br>$300<br>$400<br>$500<br>03/2026 06/2026 09/2026 12/2026 03/2027 |
| --- |
| 40<br>Overview of Securities Portfolio<br>$273M<br>Q4' 25 Total<br>Q4’25 Yield on Securities: 4.21%<br>40<br>U.S. Treasuries<br>35%<br>Corporate<br>Bonds<br>27%<br>Mortgage-Backed<br>Securities<br>26%<br>Collateralized<br>Mortgage<br>Obligations<br>4%<br>U.S. Gov't<br>Agencies<br>3%<br>SBA Securities<br>3%<br>Municipal<br>Obligations<br>2% |
| --- |
| 41<br>Interest Rate Sensitivity<br>41<br>At December 31, 2025<br>Change in<br>Interest Rates Net Interest Income Year 1 Change<br>(bps) Year 1 Forecast ($000) From Level<br>+400 $275,507 10.5%<br>+300 $270,556 8.5%<br>+200 264,733 6.2%<br>+100 258,487 3.7%<br>-- 249,268 --<br>(100) 243,011 (2.5%)<br>(200) 238,154 (4.5%)<br>(300) 233,744 (6.2%)<br>(400) 235,216 (5.6%)<br>At December 31, 2024<br>Change in<br>Interest Rates Net Interest Income Year 1 Change<br>(bps) Year 1 Forecast ($000) From Level<br>+400 $202,121 9.0%<br>+300 $198,794 7.2%<br>+200 195,159 5.2%<br>+100 191,506 3.3%<br>-- 185,432 --<br>(100) 179,705 (3.1%)<br>(200) 174,599 (5.8%)<br>(300) 170,827 (7.9%)<br>(400) 168,011 (9.4%) |
| --- |
| 42<br>Prudent Liquidity Management<br>As of December 31, 2025, the Company had:<br>• $194.9 million of outstanding advances from the Federal<br>Home Loan Bank of Boston (“FHLBB”)<br>• $535.7 million of brokered deposits<br>• $913.7 million of unused borrowing capacity with the<br>FHLBB<br>• $1.1 billion available with the Federal Reserve Bank’s<br>Borrower-in-Custody Program.<br>• $1.3 billion of additional capacity for brokered deposits,<br>pursuant to internal liquidity policy stating that brokered<br>deposits can be up to 25.0% of total assets<br>81.8%<br>unused<br>capacity<br>42<br>FHLB Advances<br>4.8%<br>Brokered Deposits<br>13.3%<br>FHLB Unused<br>Borrowing<br>Capacity<br>22.7%<br>FED Available<br>Borrowing<br>Capacity<br>27.6%<br>Capacity for<br>Additional<br>Brokered<br>Deposits<br>31.5%<br>% of Total Liquidity |
| --- |
| 43<br>Appendix |
| --- |
| 44<br>Notes and Reconciliation of U.S. GAAP and Non-GAAP<br>Financial Measures<br>In addition to results presented in accordance with accounting principles generally accepted in the United States of America (“GAAP”), this press release contains certain non-GAAP financial<br>measures, including pre-provision net revenue, operating net income, operating pre-tax income, operating noninterest expense, operating noninterest income, operating effective tax rate, operating earnings per share,<br>basic, operating earnings per share, diluted, operating return on average assets, operating return on average shareholders’ equity, operating efficiency ratio, tangible shareholders’ equity, tangible assets and tangible<br>book value per share. The Company’s management believes that the supplemental non-GAAP information is utilized by regulators and market analysts to evaluate a Company’s financial condition and therefore,<br>such information is useful to investors. These disclosures should not be viewed as a substitute for financial results determined in accordance with GAAP, nor are they necessarily comparable to non-GAAP<br>performance measures that may be presented by other companies. Because non-GAAP financial measures are not standardized, it may not be possible to compare these financial measures with other companies’ non-GAAP financial measures having the same or similar names.<br>1) These amounts are reflected in income tax expense and reflect amounts related to<br>current year compensation and a write-down for future LTIP vesting amounts that are<br>not expected to be tax deductible on a tax return. These amounts are not included in<br>the calculation of the tax benefit associated with non-GAAP adjustments.<br>44 |
| --- |
| 45<br>Notes and Reconciliation of U.S. GAAP and Non-GAAP<br>Financial Measures (Cont.)<br>In addition to results presented in accordance with accounting principles generally accepted in the United States of America (“GAAP”), this press release contains certain non-GAAP financial measures, including pre-provision net revenue, operating net income, operating pre-tax income, operating noninterest expense, operating noninterest income, operating effective tax rate, operating earnings per share,<br>basic, operating earnings per share, diluted, operating return on average assets, operating return on average shareholders’ equity, operating efficiency ratio, tangible shareholders’ equity, tangible assets and tangible<br>book value per share. The Company’s management believes that the supplemental non-GAAP information is utilized by regulators and market analysts to evaluate a Company’s financial condition and therefore,<br>such information is useful to investors. These disclosures should not be viewed as a substitute for financial results determined in accordance with GAAP, nor are they necessarily comparable to non-GAAP<br>performance measures that may be presented by other companies. Because non-GAAP financial measures are not standardized, it may not be possible to compare these financial measures with other companies’ non- GAAP financial measures having the same or similar names.<br>45 |
| --- |
| 46<br>Notes and Reconciliation of U.S. GAAP and Non-GAAP<br>Financial Measures (Cont.)<br>In addition to results presented in accordance with accounting principles generally accepted in the United States of America (“GAAP”), this press release contains certain non-GAAP financial measures, including pre-provision net revenue, operating net income, operating pre-tax income, operating noninterest expense, operating noninterest income, operating effective tax rate, operating earnings per share,<br>basic, operating earnings per share, diluted, operating return on average assets, operating return on average shareholders’ equity, operating efficiency ratio, tangible shareholders’ equity, tangible assets and tangible<br>book value per share. The Company’s management believes that the supplemental non-GAAP information is utilized by regulators and market analysts to evaluate a Company’s financial condition and therefore,<br>such information is useful to investors. These disclosures should not be viewed as a substitute for financial results determined in accordance with GAAP, nor are they necessarily comparable to non-GAAP<br>performance measures that may be presented by other companies. Because non-GAAP financial measures are not standardized, it may not be possible to compare these financial measures with other companies’ non- GAAP financial measures having the same or similar names.<br>46 |
| --- |
| 47<br>Notes and Reconciliation of U.S. GAAP and Non-GAAP<br>Financial Measures (Cont.)<br>In addition to results presented in accordance with accounting principles generally accepted in the United States of America (“GAAP”), this press release contains certain non-GAAP financial measures, including pre-provision net revenue, operating net income, operating pre-tax income, operating noninterest expense, operating noninterest income, operating effective tax rate, operating earnings per share,<br>basic, operating earnings per share, diluted, operating return on average assets, operating return on average shareholders’ equity, operating efficiency ratio, tangible shareholders’ equity, tangible assets and tangible<br>book value per share. The Company’s management believes that the supplemental non-GAAP information is utilized by regulators and market analysts to evaluate a Company’s financial condition and therefore,<br>such information is useful to investors. These disclosures should not be viewed as a substitute for financial results determined in accordance with GAAP, nor are they necessarily comparable to non-GAAP<br>performance measures that may be presented by other companies. Because non-GAAP financial measures are not standardized, it may not be possible to compare these financial measures with other companies’ non- GAAP financial measures having the same or similar names.<br>47 |
| --- |
| 48<br>Executive Management Biographies<br>Joseph<br>Campanelli<br>Chairman,<br>President & CEO<br>Christine<br>Roberts<br>SEVP & Chief<br>Operating Officer<br>JP<br>Lapointe<br>SEVP & Chief<br>Financial Officer<br>Mr. Campanelli has served as President and Chief Executive Officer of Needham Bank since joining the Bank in<br>January 2017 and was elected Chairman in 2022. Mr. Campanelli has over 40 years of banking experience in a<br>variety of senior and executive positions, including having served as the President and Chief Executive Officer of<br>Sovereign Bancorp, Inc. and its subsidiary Sovereign Bank as well as Chairman, President and Chief Executive<br>Officer of Flagstar Bancorp, Inc. and its subsidiary Flagstar Bank. Additionally, Mr. Campanelli has a long history of<br>community involvement, currently serving on the board of the Massachusetts Business Roundtable, Boys and Girls<br>Club of Boston and The One Hundred Club of Boston.<br>Ms. Roberts is Senior Executive Vice President and Chief Operating Officer of Needham Bank, a position she has held<br>since January 2025 when she joined Needham Bank. Prior to this, Ms. Roberts was Executive Vice President of<br>Citizens Pay at Citizens Bank since April 2022. Ms. Roberts had been employed at Citizens Bank since August 2012,<br>where she held positions of increasing responsibility across the institution.<br>Mr. Lapointe is Senior Executive Vice President and Chief Financial Officer, a position he has held since February<br>2024. Prior to this, Mr. Lapointe was the Chief Financial Officer of Northeast Bank from November 2017 until<br>February 2024. Prior to joining Northeast Bank, Mr. Lapointe served as a Senior Audit Manager at Wolf & Company,<br>P.C. in its external and internal audit practices, with a focus on the financial services sector from 2004 to 2017. Mr.<br>Lapointe is a certified public accountant registered in the Commonwealth of Massachusetts.<br>Kevin<br>Henkin<br>EVP & Chief<br>Credit Officer<br>Mr. Henkin is Executive Vice President and Chief Credit Officer of Needham Bank, a position he has held since April<br>2018. In this role, Mr. Henkin has primary responsibility for managing all aspects of the credit risk management<br>framework over the Bank’s lending operations. Mr. Henkin has over 30 years of banking experience, having served<br>at other financial institutions as well as running a bank consulting firm for three years at which Mr. Henkin<br>conducted external loan reviews, stress testing and due diligence for financial institutions.<br>48 |
| --- |
| 49<br>Thank You |
| --- |