Flash FinanceUS
Market open S&P 5007,376.86+0.31% Nasdaq24,579.42+1.09% Dow 3051,285.73-0.46% Russell 20002,754.11+0.89% Nasdaq-10026,989.99+1.35% MidCap 4003,602.50+0.56% SmallCap 6001,673.98+0.05% VIX25.64-9.01% 10Y Yield4.86+0.45% Close of Nov 06, 2026
AI brief of an SEC Form 8-K · NB Bancorp, Inc. (NBBK)

NB Bancorp sells $100 million of 7.50% subordinated notes due 2036 in private placement

Neutral Impact 3 of 5 financing

NB Bancorp, Inc., the holding company of Needham Bank, issued $100 million of 7.50% fixed-to-floating subordinated notes due 2036 to institutional investors on November 6, 2026, at 100% of principal. The company estimates net proceeds of approximately $98,265,004.75 and plans to use them for general corporate purposes, including at least $30 million to increase the bank's Tier 1 capital, and the notes are intended to count as Tier 2 capital.

Key points

  • $100 million principal, maturing November 15, 2036, issued at 100% of principal in a private placement
  • Fixed rate of 7.50% until November 15, 2031, then resets quarterly to three-month SOFR plus 305 basis points
  • Estimated net proceeds of approximately $98,265,004.75; at least $30 million to be contributed to Needham Bank
  • Notes rated BBB- by Kroll Bond Rating Agency; Piper Sandler & Co. was sole placement agent

The filing

CompanyNB Bancorp, Inc. (NBBK)
Form8-K, current report
Filed with the SECNov 6, 2026, 4:15 PM ET
Accession number0001104659-26-123880

Items reported: 1.01 Material Definitive Agreement2.03 New Direct Financial Obligation7.01 Regulation FD Disclosure

Read the filing on SEC.gov ↗

Written by AI on Nov 9, 2026, 7:05 AM ET, from this filing only.

Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.