NB Bancorp Appoints New CFO Amidst Officer Changes
Ticker: NBBK · Form: 8-K · Filed: Jul 24, 2024 · CIK: 1979330
| Field | Detail |
|---|---|
| Company | Nb Bancorp, Inc. (NBBK) |
| Form Type | 8-K |
| Filed Date | Jul 24, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 2 min |
| Key Dollar Amounts | $0.01 |
| Sentiment | neutral |
Sentiment: neutral
Topics: executive-change, cfo, personnel
Related Tickers: NBBC
TL;DR
NB Bancorp CFO O'Donnell out, McVay in. Watch for financial strategy shifts.
AI Summary
NB Bancorp, Inc. announced on July 24, 2024, the resignation of its Chief Financial Officer, Michael J. O'Donnell, effective July 23, 2024. Concurrently, the company appointed Sarah J. McVay as the new CFO. McVay previously served as the Senior Vice President and Chief Accounting Officer.
Why It Matters
A change in CFO can impact financial strategy and investor confidence. The market will be watching Sarah McVay's leadership and the company's financial direction.
Risk Assessment
Risk Level: medium — Changes in key executive positions like CFO can introduce uncertainty regarding future financial strategies and performance.
Key Players & Entities
- NB Bancorp, Inc. (company) — The company filing the report.
- Michael J. O'Donnell (person) — Resigning Chief Financial Officer.
- Sarah J. McVay (person) — Appointed Chief Financial Officer.
- July 24, 2024 (date) — Date of the report and announcement.
- July 23, 2024 (date) — Effective date of CFO resignation.
FAQ
Who is the new Chief Financial Officer of NB Bancorp, Inc.?
Sarah J. McVay has been appointed as the new Chief Financial Officer of NB Bancorp, Inc.
When did Michael J. O'Donnell's resignation as CFO become effective?
Michael J. O'Donnell's resignation as CFO was effective July 23, 2024.
What was Sarah J. McVay's previous role at NB Bancorp, Inc.?
Sarah J. McVay previously served as the Senior Vice President and Chief Accounting Officer.
What is the principal executive office address for NB Bancorp, Inc.?
The principal executive offices are located at 1063 Great Plain Avenue, Needham, Massachusetts 02492.
What is the filing date of this 8-K report?
This 8-K report was filed on July 24, 2024.
Filing Stats: 605 words · 2 min read · ~2 pages · Grade level 10.5 · Accepted 2024-07-24 17:20:20
Key Financial Figures
- $0.01 — ch registered Common Stock, Par Value $0.01 Per Share NBBK The Nasdaq Stock Mar
Filing Documents
- nbbk-20240724x8k.htm (8-K) — 38KB
- nbbk-20240724xex99d1.htm (EX-99.1) — 1533KB
- nbbk-20240724xex99d1001.jpg (GRAPHIC) — 6KB
- 0001558370-24-010059.txt ( ) — 1760KB
- nbbk-20240724.xsd (EX-101.SCH) — 4KB
- nbbk-20240724_def.xml (EX-101.DEF) — 3KB
- nbbk-20240724_lab.xml (EX-101.LAB) — 17KB
- nbbk-20240724_pre.xml (EX-101.PRE) — 11KB
- nbbk-20240724x8k_htm.xml (XML) — 5KB
02
Item 2.02 Results of Operation and Financial Condition. On July 24, 2024, NB Bancorp, Inc., the holding company for Needham Bank, issued a press release in which it announced its earnings for the quarter ended June 30, 2024. A copy of the press release announcing the results is included as Exhibit 99.1 to this Current Report on Form 8-K and shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933.
02 Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers
Item 5.02 Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers. Salvatore Rinaldi, the Company's Chief Operating Officer, notified the Company's Chief Executive Officer and the Board of Directors on July 24, 2024 that he would be retiring from his role as Chief Operating Officer of the Company and of Needham Bank once his successor is identified and appointed as Chief Operating Officer and begins employment with Needham Bank. The Company is engaged in a search for a replacement. Mr. Rinaldi is expected to remain in his current role until his successor is named and will remain with the Company in a strategic advisory role through the transition of his responsibilities to his successor.
Financial Statements and Exhibits
Financial Statements and Exhibits. (d) Exhibits Exhibit No. Description 99.1 Press Release dated July 24, 2024 104.1 Cover Page Interactive Data File (Embedded within Inline XBRL document)
SIGNATURES
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: July 24, 2024 By: /s/Jean-Pierre Lapointe Executive Vice President and Chief Financial Officer