NB Bancorp reports Q2 non-GAAP EPS of $0.55 and revenue of $74.7M as net interest margin expands.
NB Bancorp posted Q2 non-GAAP earnings per share of $0.55 and revenue of $74.7M, reflecting growth in net interest income. The company’s net interest margin rose by 7 basis points to 4.00% from 3.93% in the prior quarter.
Excluding purchase accounting adjustments, the net interest margin expanded by 5 basis points. The results follow sequential improvements in lending activity and deposit costs.
No immediate market reaction was disclosed in the release.