NBT Bancorp (NBTB) reported $140.41 million in revenue for the quarter ended June 2024, representing a year-over-year increase of 15.9%. EPS of $0.69 for the same period compares to $0.80 a year ago. While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance. Here is how NBT performed in th ...

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 2024 RESULTS AND APPROVES A 6.3% CASH DIVIDEND INCREASE NORWICH, NY (July 22, 2024) – NBT Bancorp Inc. ("NBT" or the "Company") (NASDAQ: NBTB) reported net income and diluted e ...

"Our operating performance for the second quarter and first half of 2024 continues to reflect the strength of our balance sheet, our diversified business model, and the collaboration of our team," said NBT President and CEO Scott A. Kingsley. "During the second quarter, we grew loans $166 million across our footprint and improved our net interest margin incrementally. Noninterest income continued to be a core strength, making up 31% of total revenues for the second quarter. We are also pleased to announce t ...

NORWICH, N.Y., May 21, 2024 (GLOBE NEWSWIRE) -- The Board of Directors of NBT Bancorp Inc. ("NBT" or the "Company") (NASDAQ: NBTB) approved a second-quarter cash dividend of $0.32 per share at a meeting held today. The dividend will be paid on June 17, 2024 to shareholders of record as of June 3, 2024. Corporate Overview NBT Bancorp Inc. is a financial holding company headquartered in Norwich, NY, with total assets of $13.44 billion at March 31, 2024. The Company primarily operates through NBT Bank, N.A., a ...

Kingsley joined NBT in 2021 as Executive Vice President and Chief Financial Officer. He has more than 35 years of experience, including 16 years as a member of the management team at Community Bank System, Inc., where he served as Chief Operating Officer and, prior to that, as Chief Financial Officer. Kingsley started his career with PricewaterhouseCoopers, LLP before joining the Carlisle Companies, Inc., a publicly traded global manufacturer and distributor, where he served in financial and operational lea ...

Financial Performance - Net income for Q1 2024 was $33.8 million, or $0.71 per diluted share, an increase of $3.4 million from Q4 2023 and a slight increase from $33.7 million in Q1 2023[116] - Net income for Q1 2024 was $33.8 million, comparable to Q1 2023, and up $3.4 million from Q4 2023[118] - Diluted earnings per share for Q1 2024 were $0.71, down $0.07 from Q1 2023, and up $0.07 from Q4 2023[118] - Operating net income for Q1 2024 was $32.1 million, or $0.68 per diluted share, compared to $0.88 in Q1 2023 and $0.72 in Q4 2023[120] - Noninterest income for Q1 2024 was $43.2 million, up $5.2 million, or 13.8%, from Q4 2023, and up $6.8 million, or 18.7%, from Q1 2023[118] - Total noninterest income for Q1 2024 was $45.4 million, an increase of $6.9 million, or 17.9%, from the prior quarter and up $14.0 million, or 44.5%, from Q1 2023[130] Asset and Liability Management - Total loans at the end of Q1 2024 were $9.69 billion, up $37.4 million, or 1.6%, annualized from December 31, 2023[118] - Total deposits at the end of Q1 2024 were $11.20 billion, up $226.3 million, or 2.1%, from December 31, 2023[118] - Total assets as of March 31, 2024, were $13.329 billion, down from $13.616 billion at the end of 2023[125] - The Company’s stockholders' equity increased to $1.430 billion as of March 31, 2024, from $1.374 billion at the end of 2023[125] - Average deposits rose by $1.44 billion, or 15.0%, from the same period last year, largely due to $1.31 billion in deposits acquired from Salisbury in Q3 2023[156] Capital Ratios and Equity - The common equity tier 1 capital ratio stood at 11.68% in Q1 2024, compared to 11.57% in Q4 2023[117] - The tangible equity ratio was reported at 7.98% in Q1 2024, up from 7.93% in Q4 2023[117] - The total risk-based capital ratio was 14.87% as of March 31, 2024, compared to 14.75% in the previous quarter and 15.52% a year ago[119] - Stockholders' equity increased by $15.7 million to $1.44 billion at March 31, 2024, representing 10.73% of total assets[162] - The Tier 1 leverage ratio was 10.09% at March 31, 2024, compared to 9.71% at December 31, 2023[165] Credit Quality and Allowance for Losses - The allowance for credit losses totaled $115.3 million at March 31, 2024, compared to $100.3 million at March 31, 2023, reflecting an increase due to acquired Salisbury loans[148] - The provision for loan losses in Q1 2024 was $5.6 million, compared to $3.9 million in Q1 2023 and $5.1 million in Q4 2023[118] - The allowance for credit losses as a percentage of loans was 1.19% at March 31, 2024, compared to 1.21% at March 31, 2023[148] - Net charge-offs totaled $4.7 million during Q1 2024, compared to $3.8 million in Q1 2023[150] - Total nonperforming assets were $37.8 million at March 31, 2024, compared to $37.9 million at December 31, 2023, and $18.7 million at March 31, 2023[153] Interest Income and Margin - The net interest margin (FTE) for Q1 2024 was 3.14%, slightly down from 3.15% in Q4 2023[117] - Net interest income for Q1 2024 was $95.2 million, down $4.0 million, or 4.0%, from Q4 2023, and up $0.1 million, or 0.1%, from Q1 2023[122] - The interest rate spread for Q1 2024 was 2.32%, compared to 2.34% in Q4 2023 and 3.12% in Q1 2023[125] - The Company recognized a gain of $2.3 million from the sale of a previously written-off subordinated debt security in Q1 2024[130] Economic Outlook and Projections - The Company anticipates a Northeast GDP annualized growth starting at approximately 3.3% in Q2 2024, decreasing to 2.8% before increasing to 3.4% by the end of the forecast period[111] - The Company has a downside scenario where national unemployment could peak at 7.7% by Q2 2025, impacting the allowance for credit losses significantly[111] - The effective tax rate for Q1 2024 was 21.7%, down from 22.2% in Q1 2023, due to a higher level of tax-exempt income[132] - The trajectory of net interest income is significantly influenced by inflationary pressures and FOMC monetary policy, with a total increase of 425 bps in 2022 and an additional 100 bps in 2023[174] Liquidity Management - The Company has a remaining available borrowing capacity of $3.13 billion as of March 31, 2024, compared to $2.99 billion at December 31, 2023[178] - The Company continues to monitor liquidity closely due to potential adverse impacts from rising interest rates and increased competition for deposits[179] - The Company has the ability to issue brokered time deposits and borrow against established facilities, providing additional liquidity of $2.03 billion as of March 31, 2024[178] - Approximately $77.1 million of the Bank's total stockholders' equity is available for payment of dividends to the Company without OCC approval as of March 31, 2024[182]

NBT Bancorp Inc. (NASDAQ:NBTB) Q1 2024 Earnings Conference Call April 23, 2024 10:00 AM ET Company Participants John Watt - President and CEO Scott Kingsley - Chief Financial Officer Annette Burns - Chief Accounting Officer Joe Stagliano - President, Retail Banking Conference Call Participants Matthew Breese - Stephens Christopher O'Connell - Keefe, Bruyette & Woods Operator Good day, everyone. Welcome to the conference call covering NBT Bancorp's First Quarter 2024 Financial Results. This call is being rec ...

For the quarter ended March 2024, NBT Bancorp (NBTB) reported revenue of $140.57 million, up 11.1% over the same period last year. EPS came in at $0.68, compared to $0.88 in the year-ago quarter.The reported revenue represents a surprise of +4.12% over the Zacks Consensus Estimate of $135.01 million. With the consensus EPS estimate being $0.67, the EPS surprise was +1.49%.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street e ...

NBT Bancorp (NBTB) came out with quarterly earnings of $0.68 per share, beating the Zacks Consensus Estimate of $0.67 per share. This compares to earnings of $0.88 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 1.49%. A quarter ago, it was expected that this financial holding company would post earnings of $0.74 per share when it actually produced earnings of $0.72, delivering a surprise of -2.70%.Over the last four quarters, ...

Exhibit 99.1 FOR IMMEDIATE RELEASE ATTENTION: FINANCIAL AND BUSINESS EDITORS Contact: John H. Watt, Jr., President and CEO Scott A. Kingsley, Executive Vice President and CFO NBT Bancorp Inc. 52 South Broad Street Norwich, NY 13815 607-337-6589 NBT BANCORP INC. ANNOUNCES FIRST QUARTER 2024 RESULTS NORWICH, NY (April 22, 2024) – NBT Bancorp Inc. ("NBT" or the "Company") (NASDAQ: NBTB) reported net income and diluted earnings per share for the three months ended March 31, 2024. Net income for the three months ...