NB Bancorp is the holding company for Needham Bank, a Massachusetts-chartered community bank headquartered in Needham, MA, about 17 miles southwest of Boston. Founded in 1892, Needham Bank takes deposits and lends primarily across the Greater Boston metro area and southern New Hampshire, with commercial lending making up roughly 69% of total loans, residential real estate around 22%, and consumer loans the remainder. The commercial book spans CRE and multifamily loans, construction and land development, C&I loans, and a recently added mortgage warehouse business. Like most community banks, Needham Bank earns a net interest margin on the spread between deposit costs and loan yields, with profitability driven by loan volume and mix, funding costs, and credit quality. A notable feature of the business is its niche in cannabis banking — an underserved industry with limited access to traditional banking — where Needham Bank has built dedicated compliance infrastructure, generating roughly 8% of total deposits from cannabis clients. The bank also lends to solar companies and offers bridge financing, targeting industries where few competitors operate. Needham Bank has been in an active growth phase since 2017, focused on expanding C&I and CRE lending, deepening commercial deposit relationships through cash management products, and pursuing M&A. In November 2025, Needham Bank acquired Provident Bancorp, adding roughly $1.4B in assets and a national mortgage warehouse lending platform that provides short-term financing to non-bank mortgage companies.