UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2025. OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ________ to ________. COMMISSION FILE NUMBER 0-14703 NBT BANCORP INC. Delaware 16-1268674 (State or other jurisdiction of incorporation or organization) (I.R. ...

Financial Data and Key Metrics Changes - The company reported net income of $22.5 million or $0.44 per diluted common share, with operating earnings per share increasing to $0.88, an increase of $0.08 compared to the prior quarter [11] - Operating return on assets was 1.19%, return on equity was 10.5%, and ROTCE was 15.25%, showing continued improvement [5] - Revenues grew approximately 10.5% from the prior quarter and 22% from the same quarter last year, driven by improvements in net interest income [11] Business Line Data and Key Metrics Changes - The company added approximately $1.7 billion in loans from the Evans merger, with total loans growing nearly 1% from December 2024, despite some decreases in residential mortgage and commercial real estate [12] - Non-interest income was $46.8 million, reflecting a seasonal decrease of 1.5% compared to the previous quarter but an increase of 8% from the previous year [16] - Total deposits increased to $13.5 billion, up almost $2 billion from December 2024, with a notable increase in demand deposits and savings accounts [13] Market Data and Key Metrics Changes - The company is actively engaged in the semiconductor chip corridor in Upstate New York, supporting customers and communities involved in semiconductor and advanced electronics manufacturing [6] - The company noted a positive response from customers and communities following the Evans merger, indicating strong market engagement [10] Company Strategy and Development Direction - The company aims to support strategic growth initiatives through continued capital strength and diversification of revenue streams [5] - The management expressed a focus on enhancing shareholder value and growing stronger together post-merger [10] - The company is evaluating M&A opportunities while ensuring integration and cultural alignment following the Evans acquisition [67] Management's Comments on Operating Environment and Future Outlook - Management noted that uncertainty in the market has caused some hesitation in business activity, but the loan pipeline remains strong [42] - The company expects to see continued growth in net interest income and fee-based income, contributing to positive operating leverage [19] - Management indicated that while competition remains, they are focused on supporting customers and building holistic banking relationships [46] Other Important Information - The company completed the sale of a $255 million securities portfolio, contributing to increased liquidity [13] - The merger with Evans Bancorp added significant assets, including $1.9 billion in deposits and approximately 100,000 new accounts [8] Q&A Session Summary Question: What does a 25 basis point rate cut mean for your margin? - Management indicated a neutral position regarding rate cuts, with about $2.5 billion in loans repricing immediately and 40% of the deposit base also able to reprice downward [24][25] Question: How are you thinking about the net interest margin for Q3? - Management expects a slight improvement in net interest margin due to additional accretion from the Evans acquisition and continued repricing of earning assets [27][72] Question: What is the size of the opportunity for revenue synergies post-Evans deal? - Management sees significant opportunities in wealth management and insurance, with plans to expand their advisor base and services [30][31] Question: Are there any lending areas of concern? - Management stated there are no significant concerns regarding asset quality but emphasized a focus on building banking relationships [33] Question: What is the expected run rate for non-interest expenses in Q3? - Management estimated non-interest expenses to be around $105 million, with an additional $11 million to $12 million from the Evans acquisition [35] Question: What are the plans for liquidity deployment? - Management noted increased liquidity post-Evans transaction and plans to support loan growth while maintaining strong balance sheet liquidity [58][59] Question: What is the outlook for M&A in the current environment? - Management is focused on integration post-Evans and is methodically evaluating M&A opportunities that align with their community banking culture [67]

Financial Performance - Earnings per share (EPS) was reported at $0.44, with operating EPS reaching $0.88[10] - Return on average tangible equity (ROATCE) was 8.01% reported and 15.25% operating[10] - Total revenue reached $171 million[10] - Net interest income increased by 15.9% from the previous quarter, and the net interest margin increased by 15 bps[12] - Stockholders' equity grew by $279 million, or 18.3%, from December 31, 2024[13] Balance Sheet - Period-end loans totaled $11.62 billion[10] - Period-end deposits totaled $13.52 billion, a 203 bps increase compared to Q2 2024[10] - Total loans increased by $1.64 billion from Q1 2025 and $1.77 billion from Q2 2024, representing increases of 16.5% and 18.0% respectively[21] - Total deposits increased by $1.81 billion from Q1 2025 and $2.24 billion from Q2 2024, representing increases of 15.4% and 19.9% respectively[21] Evans Bancorp Merger - The merger with Evans Bancorp, Inc added 18 banking offices, $2.22 billion in assets, $1.67 billion in loans, and $1.86 billion in deposits[6] - 5.1 million shares were issued for the Evans acquisition, valued at $221.8 million as of the closing date[13, 19]

Core Insights - NBT Bancorp reported a revenue of $171.81 million for the quarter ended June 2025, reflecting a year-over-year increase of 22.4% [1] - The earnings per share (EPS) for the same quarter was $0.88, up from $0.69 in the previous year, with an EPS surprise of +7.32% compared to the consensus estimate of $0.82 [1] Financial Performance Metrics - The net interest margin (FTE) was reported at 3.6%, slightly above the estimated 3.5% [4] - Total interest-earning assets averaged $13.96 billion, which was below the estimated $14.03 billion [4] - Net charge-offs to average loans were 0.1%, better than the estimated 0.2% [4] - Total noninterest income was $46.93 million, falling short of the $47.79 million estimate [4] - Insurance services generated $4.1 million, close to the estimated $4.13 million [4] - Retirement plan administration fees reached $15.71 million, exceeding the estimated $14.91 million [4] - Wealth management income was $10.68 million, slightly below the estimated $10.79 million [4] - Other income was reported at $3.5 million, significantly lower than the estimated $4.28 million [4] - Service charges on deposit accounts totaled $4.58 million, in line with the estimated $4.6 million [4] - Net interest income (FTE) was $124.88 million, surpassing the estimated $121.77 million [4] - Card services income was $6.08 million, above the estimated $5.88 million [4] Stock Performance - NBT Bancorp's shares have returned -1.2% over the past month, contrasting with the Zacks S&P 500 composite's +4.9% change [3] - The stock currently holds a Zacks Rank 4 (Sell), indicating potential underperformance relative to the broader market in the near term [3]

Company Performance - NBT Bancorp reported quarterly earnings of $0.88 per share, exceeding the Zacks Consensus Estimate of $0.82 per share, and up from $0.69 per share a year ago, representing an earnings surprise of +7.32% [1] - The company posted revenues of $171.81 million for the quarter ended June 2025, surpassing the Zacks Consensus Estimate by 0.69%, compared to year-ago revenues of $140.41 million [2] - Over the last four quarters, NBT has surpassed consensus EPS estimates three times and topped consensus revenue estimates four times [2] Market Performance - NBT shares have declined approximately 13.4% since the beginning of the year, while the S&P 500 has gained 8.6% [3] - The current Zacks Rank for NBT is 4 (Sell), indicating expected underperformance in the near future [6] Future Outlook - The current consensus EPS estimate for the upcoming quarter is $0.94 on revenues of $183.04 million, and for the current fiscal year, it is $3.47 on revenues of $692.24 million [7] - The outlook for the industry, specifically the Banks - Northeast sector, is favorable, ranking in the top 15% of over 250 Zacks industries, which historically outperform the bottom 50% by more than 2 to 1 [8]

Exhibit 99.1 FOR IMMEDIATE RELEASE ATTENTION: FINANCIAL AND BUSINESS EDITORS Contact: Scott A. Kingsley, President and CEO Annette L. Burns, Executive Vice President and CFO NBT Bancorp Inc. 52 South Broad Street Norwich, NY 13815 607-337-6589 NBT BANCORP INC. ANNOUNCES SECOND QUARTER 2025 NET INCOME AND APPROVES AN 8.8% CASH DIVIDEND INCREASE NORWICH, NY (July 28, 2025) – NBT Bancorp Inc. ("NBT" or the "Company") (NASDAQ: NBTB) reported net income and diluted earnings per share for the three and six months ...

NORWICH, N.Y., July 28, 2025 (GLOBE NEWSWIRE) -- NBT Bancorp Inc. (“NBT” or the “Company”) (NASDAQ: NBTB) reported net income and diluted earnings per share for the three and six months ended June 30, 2025. Net income for the second quarter of 2025 was $22.5 million, or $0.44 per diluted common share, compared to $32.7 million, or $0.69 per diluted common share, for the second quarter of 2024, and $36.7 million, or $0.77 per diluted common share, for the first quarter of 2025. Operating diluted earnings per ...

Wall Street expects a year-over-year increase in earnings on higher revenues when NBT Bancorp (NBTB) reports results for the quarter ended June 2025. While this widely-known consensus outlook is important in gauging the company's earnings picture, a powerful factor that could impact its near-term stock price is how the actual results compare to these estimates.The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on July 28. On th ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2025. OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ________ to ________. COMMISSION FILE NUMBER 0-14703 NBT BANCORP INC. (Exact name of registrant as specified in its charter) Delaware 16-1268674 (State or ot ...

Core Points - NBT Bancorp Inc. completed the merger with Evans Bancorp, Inc. on May 2, 2025, followed by a core systems conversion [1] - The merger expanded NBT Bank's branch network into Western New York, adding 14 offices in Buffalo and 4 in greater Rochester, bringing the total to 175 branches across seven states [2] - Over 200 employees and more than 40,000 customers from Evans Bank joined NBT as a result of the merger [3] - Three executives from Evans have taken leadership roles at NBT Bank, enhancing continuity in leadership for the Western Region of New York [4] - NBT Bancorp has total assets of $13.86 billion as of March 31, 2025, and operates through NBT Bank and two financial services subsidiaries [5]