NB Bancorp, Inc. Earnings Per Share Disclosure
Note 18 – Earnings Per Share (“EPS”)
Basic EPS represents net income available to common shareholders divided by the weighted-average number of common shares outstanding during the year.
Diluted EPS reflects the potential dilution that could occur if securities or other contracts to issue common shares (such as stock options) were exercised or converted into additional common shares that would then share in the earnings of the Company. Diluted EPS is computed by dividing net income attributable to common shareholders by the weighted-average number of common shares outstanding for the year, plus the effect of potential dilutive common share equivalents computed using the treasury stock method.
The Company has restricted stock awards that had a dilutive effect during the year ended December 31, 2025. There were no securities that had a dilutive effect during the years ended December 31, 2024 and 2023, and therefore the weighted-average common shares outstanding used to calculate both basic and diluted EPS are the same during the years ended December 31, 2024 and 2023. Unallocated ESOP shares are not deemed outstanding for earnings per share calculations. For the years ended December 31, 2025, 2024 and 2023, there were no anti-dilutive shares.
For the Year Ended December 31, | |||||||||
| 2025 | | 2024 | | 2023 | ||||
(Dollars in thousands, except per share data) | |||||||||
Net income applicable to common shares | $ | 50,302 | $ | 42,149 | $ | 9,825 | |||
Average number of common shares outstanding | 41,541,239 | 42,705,729 | 42,705,729 | ||||||
Less: average unvested restricted stock awards | (886,850) | — | — | ||||||
Less: average unallocated ESOP shares | (3,245,170) | (3,315,900) | (687,500) | ||||||
Average number of common shares outstanding used to calculate basic EPS | 37,409,219 | 39,389,829 | 42,018,229 | ||||||
Add: dilutive non-participating unvested restricted stock awards | 216,969 | — | — | ||||||
Average number of common shares outstanding used to calculate dilutive EPS | 37,626,188 | 39,389,829 | 42,018,229 | ||||||
Earnings per common share: | |||||||||
Basic | $ | 1.34 | $ | 1.07 | $ | 0.23 | |||
Diluted | $ | 1.34 | $ | 1.07 | $ | 0.23 | |||
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Mar 3, 2026 | Showing above |
| 2024 | Mar 7, 2025 | |
| 2023 | Mar 28, 2024 | |
About Earnings Per Share Disclosures
The earnings per share disclosure breaks down the calculation from net income to both basic and diluted EPS, revealing the full impact of a company's capital structure on per-share economics. The reconciliation between basic and diluted share counts exposes how many stock options, RSUs, convertible securities, and warrants are potentially dilutive to existing shareholders.
Key signals: a widening gap between basic and diluted shares indicates growing dilution from equity compensation or convertible instruments. Anti-dilutive securities excluded from the diluted calculation deserve attention — they represent latent dilution that will materialize if the stock price rises. Watch for the effect of share buybacks on per-share metrics: EPS growth driven primarily by repurchases rather than income growth signals weakening fundamentals. Compare year-over-year changes in the diluted share count against equity compensation expense to assess whether management is effectively managing dilution.