[PART I FINANCIAL INFORMATION](index=3&type=section&id=PART%20I%20FINANCIAL%20INFORMATION) [Financial Statements (Unaudited)](index=3&type=section&id=ITEM%201.%20FINANCIAL%20STATEMENTS%20(Unaudited)) Unaudited statements show total assets at $11.89 billion, with Q2 net income falling to $30.1 million [Consolidated Balance Sheets](index=3&type=section&id=Consolidated%20Balance%20Sheets) Total assets grew to $11.89 billion, driven by a rise in net loans to $8.26 billion Consolidated Balance Sheet Highlights (in thousands) | Account | June 30, 2023 | December 31, 2022 | Change | | :--- | :--- | :--- | :--- | | Total Assets | $11,890,497 | $11,739,296 | $151,201 | | Net Loans | $8,257,724 | $8,049,347 | $208,377 | | Securities (AFS & HTM) | $2,366,802 | $2,446,742 | ($79,940) | | Total Deposits | $9,529,919 | $9,495,933 | $33,986 | | Total Liabilities | $10,680,004 | $10,565,742 | $114,262 | | Total Stockholders' Equity | $1,210,493 | $1,173,554 | $36,939 | [Consolidated Statements of Income](index=4&type=section&id=Consolidated%20Statements%20of%20Income) Q2 2023 net income fell 20.4% to $30.1 million due to higher interest expense and securities losses Key Income Statement Data (in thousands, except per share data) | Metric | Q2 2023 | Q2 2022 | 6 Months 2023 | 6 Months 2022 | | :--- | :--- | :--- | :--- | :--- | | Net Interest Income | $89,085 | $87,585 | $184,151 | $167,933 | | Provision for Loan Losses | $3,606 | $4,390 | $7,515 | $4,986 | | Total Noninterest Income | $32,045 | $41,656 | $63,454 | $84,315 | | Total Noninterest Expense | $78,794 | $76,119 | $158,116 | $148,262 | | Net Income | $30,072 | $37,775 | $63,730 | $76,901 | | Diluted EPS | $0.70 | $0.88 | $1.48 | $1.78 | - Card services income decreased significantly to **$5.1 million in Q2 2023** from $9.8 million in Q2 2022[9](index=9&type=chunk) - Net securities losses widened to **$(4.6) million in Q2 2023** and **$(9.6) million for the first six months of 2023**[9](index=9&type=chunk) [Consolidated Statements of Comprehensive Income (Loss)](index=5&type=section&id=Consolidated%20Statements%20of%20Comprehensive%20Income%20(Loss)) Comprehensive income recovered to $63.7 million for the first half of 2023 from a loss in 2022 Comprehensive Income (Loss) Summary (in thousands) | Metric | Q2 2023 | Q2 2022 | 6 Months 2023 | 6 Months 2022 | | :--- | :--- | :--- | :--- | :--- | | Net Income | $30,072 | $37,775 | $63,730 | $76,901 | | Other Comprehensive (Loss) | $(16,182) | $(33,406) | $(66) | $(101,437) | | Comprehensive Income (Loss) | $13,890 | $4,369 | $63,664 | $(24,536) | [Consolidated Statements of Changes in Stockholders' Equity](index=6&type=section&id=Consolidated%20Statements%20of%20Changes%20in%20Stockholders'%20Equity) Stockholders' equity increased to $1.21 billion, driven by net income offset by dividends and buybacks - For the six months ended June 30, 2023, the company declared cash dividends of **$0.60 per share**, totaling $25.7 million[13](index=13&type=chunk) - The company purchased **87,000 treasury shares for $2.8 million** during the first six months of 2023[13](index=13&type=chunk) [Consolidated Statements of Cash Flows](index=7&type=section&id=Consolidated%20Statements%20of%20Cash%20Flows) Operating cash flow decreased while financing activities provided cash, reversing the prior year's trend Cash Flow Summary (in thousands) | Activity | 6 Months Ended June 30, 2023 | 6 Months Ended June 30, 2022 | | :--- | :--- | :--- | | Net Cash from Operating Activities | $67,171 | $104,096 | | Net Cash from Investing Activities | $(158,958) | $(557,815) | | Net Cash from Financing Activities | $96,325 | $(291,736) | | Net (Decrease) in Cash | $4,538 | $(745,455) | | Cash at End of Period | $201,888 | $523,616 | [Notes to Unaudited Interim Consolidated Financial Statements](index=9&type=section&id=Notes%20to%20Unaudited%20Interim%20Consolidated%20Financial%20Statements) Notes detail accounting policies, including the adoption of new TDR guidance and credit loss allowances - The company adopted ASU 2022-02, eliminating Troubled Debt Restructuring accounting and increasing retained earnings by **$0.5 million**[20](index=20&type=chunk)[33](index=33&type=chunk)[60](index=60&type=chunk) - The company's business consists of providing commercial banking, retail banking, and wealth management services[16](index=16&type=chunk)[17](index=17&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=29&type=section&id=ITEM%202.%20MANAGEMENT'S%20DISCUSSION%20AND%20ANALYSIS%20OF%20FINANCIAL%20CONDITION%20AND%20RESULTS%20OF%20OPERATIONS) Net income fell to $30.1 million in Q2 2023 due to funding costs, while the Salisbury acquisition proceeds [Overview and Key Performance Metrics](index=31&type=section&id=Overview%20and%20Key%20Performance%20Metrics) Q2 2023 net income was $30.1 million, impacted by securities losses and acquisition expenses Q2 2023 Performance Highlights | Metric | Q2 2023 | Q2 2022 | Q1 2023 | | :--- | :--- | :--- | :--- | | Net Income (in millions) | $30.1 | $37.8 | $33.7 | | Diluted EPS | $0.70 | $0.88 | $0.78 | | Return on Average Assets | 1.02% | 1.28% | 1.16% | | Return on Average Equity | 9.91% | 12.73% | 11.47% | | Tangible Book Value/Share | $21.55 | $20.99 | $21.52 | - The company received regulatory approvals for its acquisition of Salisbury Bancorp, Inc, expected to close on **August 11, 2023**[114](index=114&type=chunk) - The company incurred a **$4.5 million securities loss** and **$1.2 million in acquisition expenses** in Q2 2023[117](index=117&type=chunk) [Net Interest Income](index=33&type=section&id=Net%20Interest%20Income) Q2 2023 net interest margin compressed to 3.27% due to a rapid increase in funding costs Net Interest Margin Analysis | Period | Net Interest Income (FTE, in millions) | Net Interest Margin (FTE) | | :--- | :--- | :--- | | Q2 2023 | $89.5 | 3.27% | | Q1 2023 | $95.5 | 3.55% | | Q2 2022 | $87.9 | 3.21% | - A sharp rise in interest expense to **$31.5 million in Q2 2023** from $3.9 million in Q2 2022 was the primary driver of margin compression[122](index=122&type=chunk)[133](index=133&type=chunk) [Noninterest Income](index=37&type=section&id=Noninterest%20Income) Noninterest income fell 23.1% in Q2 2023, driven by securities losses and lower card services income Noninterest Income Breakdown (in thousands) | Category | Q2 2023 | Q2 2022 | Change (%) | | :--- | :--- | :--- | :--- | | Card services income | $5,121 | $9,751 | (47.5%) | | Retirement plan admin fees | $11,735 | $12,676 | (7.4%) | | Net securities (losses) | $(4,641) | $(587) | (690.6%) | | **Total Noninterest Income** | **$32,045** | **$41,656** | **(23.1%)** | - For the first six months of 2023, noninterest income declined due to an **$8.0 million impact from the Durbin Amendment** on card services income[135](index=135&type=chunk) [Noninterest Expense](index=38&type=section&id=Noninterest%20Expense) Noninterest expense rose 3.5% year-over-year, driven by technology costs and higher FDIC assessments Noninterest Expense Breakdown (in thousands) | Category | Q2 2023 | Q2 2022 | Change (%) | | :--- | :--- | :--- | :--- | | Salaries and employee benefits | $46,834 | $46,716 | 0.3% | | Technology and data services | $9,305 | $8,945 | 4.0% | | FDIC assessment | $1,344 | $810 | 65.9% | | Acquisition expenses | $1,189 | $0 | N/A | | **Total Noninterest Expense** | **$78,794** | **$76,119** | **3.5%** | [Income Taxes](index=39&type=section&id=Income%20Taxes) The effective tax rate remained stable at 22.4% for Q2 2023 and 22.3% for the first half of the year - The effective tax rate was **22.4% for Q2 2023**, compared to 22.5% for Q2 2022[140](index=140&type=chunk) - For the six months ended June 30, 2023, the effective tax rate was **22.3%**, identical to the prior-year period[141](index=141&type=chunk) [Analysis of Financial Condition](index=39&type=section&id=Analysis%20of%20Financial%20Condition) Financial condition remains solid with 5.1% annualized loan growth and strong capital ratios - Total loans increased by **$208.0 million (5.1% annualized)** since year-end 2022[145](index=145&type=chunk) - The allowance for credit losses was **$100.4 million**, or 1.20% of total loans[154](index=154&type=chunk) - Nonperforming assets decreased to **$19.9 million (0.17% of total assets)** from $21.2 million at year-end 2022[159](index=159&type=chunk) - Total deposits increased slightly, with a shift to higher-cost time deposits including **$242.0 million in brokered deposits**[161](index=161&type=chunk) [Quantitative and Qualitative Disclosures About Market Risk](index=44&type=section&id=ITEM%203.%20QUANTITATIVE%20AND%20QUALITATIVE%20DISCLOSURES%20ABOUT%20MARKET%20RISK) The company manages interest rate risk and maintains robust liquidity with a surplus of $1.66 billion Interest Rate Sensitivity Analysis (as of June 30, 2023) | Change in Interest Rates (bps) | Percent Change in Net Interest Income | | :--- | :--- | | +200 | 1.57% | | +100 | 1.06% | | -200 | (2.11%) | - The company's 'Basic Surplus' liquidity was **$1.66 billion (13.9% of total assets)**, well above the 5% policy minimum[181](index=181&type=chunk) - The company had additional borrowing capacity of approximately **$924.5 million from the FHLB** and **$1.02 billion from unpledged securities**[182](index=182&type=chunk) [Controls and Procedures](index=46&type=section&id=ITEM%204.%20CONTROLS%20AND%20PROCEDURES) Management concluded that disclosure controls and procedures were effective as of June 30, 2023 - The CEO and CFO concluded that as of June 30, 2023, the company's **disclosure controls and procedures were effective**[188](index=188&type=chunk) [PART II OTHER INFORMATION](index=47&type=section&id=PART%20II%20OTHER%20INFORMATION) [Legal Proceedings](index=47&type=section&id=ITEM%201.%20LEGAL%20PROCEEDINGS) The company is not a party to any material legal proceedings outside of ordinary routine litigation - There are **no material legal proceedings** against the company[190](index=190&type=chunk) [Risk Factors](index=47&type=section&id=ITEM%201A.%20RISK%20FACTORS) No material changes to previously disclosed risk factors were reported during the quarter - **No material changes** to risk factors were reported for the quarter[191](index=191&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=47&type=section&id=ITEM%202.%20UNREGISTERED%20SALES%20OF%20EQUITY%20SECURITIES%20AND%20USE%20OF%20PROCEEDS) The company repurchased 87,000 shares in Q2 2023, with 1.51 million shares remaining under the plan Share Repurchase Activity (Q2 2023) | Period | Total Shares Purchased | Average Price Paid Per Share | | :--- | :--- | :--- | | April 2023 | - | $ - | | May 2023 | - | $ - | | June 2023 | 87,000 | $31.94 | | **Total** | **87,000** | **$31.94** | - As of June 30, 2023, **1,513,000 shares** were available for repurchase under the existing plan expiring December 31, 2023[192](index=192&type=chunk) [Other Information](index=47&type=section&id=ITEM%205.%20OTHER%20INFORMATION) No directors or officers adopted, modified, or terminated any Rule 10b5-1 trading plans this quarter - **No Rule 10b5-1 plans** were adopted, modified, or terminated by any director or officer during the quarter[193](index=193&type=chunk)

NBT Bancorp Inc. (NASDAQ:NBTB) Q2 2023 Earnings Conference Call August 1, 2023 8:30 AM ET Company Participants John H. Watt, Jr. - President & Chief Executive Officer Scott Kingsley - Chief Financial Officer Conference Call Participants Alex Twerdahl - PSC Steve Moss - Raymond James Chris O’Connell - KBW Matthew Breese - Stephens Inc. Operator Good day, everyone. Welcome to the NBT Bancorp's Second Quarter 2023 Financial Results Conference Call. This call is being recorded and has been made accessible to 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, 2023. 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) (State or other jurisdiction of ...

NBT Bancorp Inc. (NASDAQ:NBTB) Q1 2023 Earnings Conference Call April 25, 2023 8:30 AM ET Company Participants John H. Watt, Jr. – President and Chief Executive Officer Scott Kingsley – Chief Financial Officer Conference Call Participants Alex Twerdahl – Piper Sandler & Co Steve Moss – Raymond James Chris O’Connell – KBW Matt Breese – Stephens Inc. Operator Good day, everyone. Welcome to the NBT Bancorp’s First Quarter 2023 Financial Results Conference Call. This call is being recorded and has been made acc ...

PART I [Business](index=4&type=section&id=Item%201.%20Business) NBT Bancorp Inc. is a financial holding company with **$11.74 billion** in assets, offering commercial, retail, and wealth management services, and has a pending merger with **Salisbury Bancorp** Company Overview (as of Dec 31, 2022) | Metric | Value | | :--- | :--- | | Total Assets | **$11.74 billion** | | Stockholders' Equity | **$1.17 billion** | | Full-time Equivalent Employees | **1,861** | - The company's business consists of providing commercial banking, retail banking, and wealth management services primarily in central and upstate New York, northeastern Pennsylvania, and parts of New England[14](index=14&type=chunk) - On December **5**, **2022**, the Company entered into an agreement to acquire **Salisbury Bancorp, Inc**. Under the terms, each share of Salisbury common stock will be converted into **0.7450** shares of the Company's common stock. Salisbury had assets of **$1.54 billion** at year-end **2022**[22](index=22&type=chunk) - The company faces strong competition from other financial institutions. It competes by emphasizing its community banking nature, local market knowledge, and specialized services like agricultural lending[23](index=23&type=chunk)[27](index=27&type=chunk) - The company is subject to extensive regulation by federal and state authorities, including the **Federal Reserve Board (FRB)**, the **Office of the Comptroller of the Currency (OCC)**, and the **Consumer Financial Protection Bureau (CFPB)**, particularly after crossing the **$10 billion** asset threshold[53](index=53&type=chunk)[56](index=56&type=chunk)[57](index=57&type=chunk) [Risk Factors](index=17&type=section&id=Item%201A.%20Risk%20Factors) The company faces material risks from adverse economic conditions, interest rate volatility, heightened regulatory scrutiny, cybersecurity threats, and its pending merger - The Company's financial performance is highly dependent on the economic conditions in its primary markets, including central/upstate New York and northeastern Pennsylvania. A downturn in these local economies could significantly increase nonperforming loans[110](index=110&type=chunk)[111](index=111&type=chunk) - Changes in interest rates could adversely affect net interest income. The **Federal Reserve's** rate hikes in **2022** to combat inflation present both opportunities and risks, potentially impacting loan demand and funding costs[113](index=113&type=chunk) - As of December **31**, **2022**, approximately **50%** of the loan portfolio consisted of commercial loans, which generally carry greater risk of non-payment and loss compared to residential real estate loans[115](index=115&type=chunk) - Having exceeded **$10 billion** in total assets, the Company is subject to heightened regulatory requirements, including limits on debit card interchange fees (**Durbin Amendment**), examinations by the **CFPB**, and applicability of the **Volcker Rule**, which increase compliance costs[126](index=126&type=chunk)[128](index=128&type=chunk) - The transition from **LIBOR** to alternative rates like **SOFR** by June **30**, **2023**, creates considerable costs and risks for a significant number of the Company's loans, derivatives, and other financial instruments[129](index=129&type=chunk)[130](index=130&type=chunk) - The pending merger with **Salisbury Bancorp** is subject to regulatory and shareholder approvals and presents significant integration challenges that could divert management focus and result in unanticipated costs, potentially failing to achieve the expected benefits[145](index=145&type=chunk)[148](index=148&type=chunk)[149](index=149&type=chunk) [Unresolved Staff Comments](index=28&type=section&id=Item%201B.%20Unresolved%20Staff%20Comments) The company reports no unresolved staff comments from the SEC - There are no unresolved staff comments[154](index=154&type=chunk) [Properties](index=29&type=section&id=Item%202.%20Properties) The company owns its headquarters and operates 140 branch locations, with 61 leased, deemed sufficient for current operations - The Company owns its headquarters and operates **140** branch locations, with **61** of these branches being leased properties[156](index=156&type=chunk) [Legal Proceedings](index=29&type=section&id=Item%203.%20Legal%20Proceedings) The company is not a party to any material legal proceedings beyond ordinary business litigation - There are no material legal proceedings against the Company, apart from ordinary litigation incidental to its business[158](index=158&type=chunk) [Mine Safety Disclosures](index=29&type=section&id=Item%204.%20Mine%20Safety%20Disclosures) This item is not applicable to the company - None[159](index=159&type=chunk) PART II [Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities](index=29&type=section&id=Item%205.%20Market%20for%20Registrant's%20Common%20Equity%2C%20Related%20Stockholder%20Matters%20and%20Issuer%20Purchases%20of%20Equity%20Securities) NBT Bancorp's common stock trades on NASDAQ, with dividend capacity from its subsidiary and recent share repurchases - The Company's common stock is traded on the **NASDAQ Global Select Market** under the symbol "**NBTB**"[160](index=160&type=chunk) - At December **31**, **2022**, **NBT Bank** had the ability to pay dividends of **$145.3 million** to the parent company without prior approval from the **OCC**[164](index=164&type=chunk) - The Company purchased **400,000** shares of its common stock in **2022** at an average price of **$36.78** per share. As of December **31**, **2022**, **1,600,000** shares were available for repurchase under the plan expiring December **31**, **2023**[166](index=166&type=chunk) [[Reserved]](index=30&type=section&id=Item%206.%20%5BReserved%5D) This item is reserved [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=31&type=section&id=Item%207.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Net income slightly decreased in **2022** to **$152.0 million**, driven by increased net interest income and loan growth, offset by higher loan loss provisions and **Durbin Amendment** impact Key Performance Metrics (2022 vs. 2021) | Metric | 2022 | 2021 | | :--- | :--- | :--- | | Net Income | **$152.0 million** | **$154.9 million** | | Diluted EPS | **$3.52** | **$3.54** | | Return on Average Assets | **1.29%** | **1.33%** | | Return on Average Equity | **12.67%** | **12.71%** | | Net Interest Margin (FTE) | **3.34%** | **3.03%** | - Net interest income increased by **$41.1 million** (**12.8%**) to **$362.2 million** in **2022**, primarily due to higher yields on earning assets from rising interest rates, which offset a **$17.6 million** year-over-year decrease in income from PPP loans[189](index=189&type=chunk) - The Company recorded a provision for loan losses of **$17.1 million** in **2022**, a significant shift from the **$8.3 million** net benefit recorded in **2021**, reflecting a deteriorating economic forecast and loan growth[243](index=243&type=chunk) - Noninterest income decreased **1.4%** to **$155.6 million**, largely due to an approximate **$8 million** negative impact on card services income from the **Durbin Amendment**. This was partially offset by growth in retirement plan administration fees[214](index=214&type=chunk) - Noninterest expense increased **6.0%** to **$304.5 million**, driven by higher salaries and employee benefits, technology investments, and **$1.0 million** in merger-related expenses[217](index=217&type=chunk) - Total loans grew to **$8.15 billion** at year-end **2022**, an increase of **8.7%** from **2021**. Excluding PPP loans, loan growth was **10.2%**[192](index=192&type=chunk) - Credit quality remained strong, with nonperforming loans decreasing to **0.26%** of total loans at year-end **2022** from **0.44%** at year-end **2021**. Net charge-offs were low at **0.11%** of average loans[227](index=227&type=chunk)[243](index=243&type=chunk) [Quantitative and Qualitative Disclosure About Market Risk](index=53&type=section&id=Item%207A.%20Quantitative%20and%20Qualitative%20Disclosure%20About%20Market%20Risk) The company's primary market risk is interest rate risk, managed by **ALCO**, with modeling showing asset sensitivity and projected net interest income changes under rate shifts - The company's most significant market risk is interest rate risk, managed by the **Asset Liability Committee (ALCO)** primarily through earnings at risk modeling[270](index=270&type=chunk)[272](index=272&type=chunk)[274](index=274&type=chunk) Interest Rate Sensitivity Analysis (as of Dec 31, 2022) | Change in Interest Rates (bps) | Percent Change in Net Interest Income | | :--- | :--- | | **+200** | **2.83%** | | **+100** | **1.60%** | | **-200** | (**3.99%**) | - The company's focus in the current rising rate environment is on managing deposit expenses while allowing assets to reprice upward[276](index=276&type=chunk) [Financial Statements and Supplementary Data](index=54&type=section&id=Item%208.%20Financial%20Statements%20and%20Supplementary%20Data) This section presents audited financial statements with an unqualified auditor's opinion, highlighting the **Allowance for Credit Losses** as a critical audit matter - The independent auditor, **KPMG LLP**, issued an unqualified opinion on the consolidated financial statements and the effectiveness of internal control over financial reporting as of December **31**, **2022**[278](index=278&type=chunk)[536](index=536&type=chunk) - The auditor identified the **Allowance for Credit Losses (ACL)** for loans evaluated on a collective basis as a critical audit matter due to the high degree of subjective and complex judgment required in its estimation[282](index=282&type=chunk)[285](index=285&type=chunk) Consolidated Balance Sheet Highlights (in thousands) | Account | Dec 31, 2022 | Dec 31, 2021 | | :--- | :--- | :--- | | Total Assets | **$11,739,296** | **$12,012,111** | | Net Loans | **$8,049,347** | **$7,406,459** | | Total Deposits | **$9,495,933** | **$10,234,469** | | Total Liabilities | **$10,565,742** | **$10,761,658** | | Total Stockholders' Equity | **$1,173,554** | **$1,250,453** | Consolidated Income Statement Highlights (in thousands) | Account | 2022 | 2021 | 2020 | | :--- | :--- | :--- | :--- | | Net Interest Income | **$362,190** | **$321,088** | **$315,678** | | Provision for Loan Losses | **$17,147** | (**$8,257**) | **$51,134** | | Noninterest Income | **$155,578** | **$157,794** | **$146,276** | | Noninterest Expense | **$304,465** | **$287,281** | **$277,733** | | Net Income | **$151,995** | **$154,885** | **$104,388** | [Changes in and Disagreements with Accountants on Accounting and Financial Disclosure](index=108&type=section&id=Item%209.%20Changes%20in%20and%20Disagreements%20with%20Accountants%20on%20Accounting%20and%20Financial%20Disclosure) The company reports no changes in or disagreements with its accountants on accounting and financial disclosure - None[530](index=530&type=chunk) [Controls and Procedures](index=108&type=section&id=Item%209A.%20Controls%20and%20Procedures) Management concluded disclosure controls and internal control over financial reporting were effective, with **KPMG LLP** issuing an unqualified opinion - Based on an evaluation as of December **31**, **2022**, the Chief Executive Officer and Chief Financial Officer concluded that the Company's disclosure controls and procedures were effective[530](index=530&type=chunk) - Management concluded that the Company's internal control over financial reporting was effective as of December **31**, **2022**, based on the criteria established in the **COSO framework**[532](index=532&type=chunk) - **KPMG LLP**, the independent auditor, issued an unqualified opinion on the effectiveness of the Company's internal control over financial reporting as of December **31**, **2022**[533](index=533&type=chunk)[536](index=536&type=chunk) [Other Information](index=110&type=section&id=Item%209B.%20Other%20Information) The company reports no other information for this item - None[543](index=543&type=chunk) [Disclosure Regarding Foreign Jurisdictions that Prevent Inspections](index=110&type=section&id=Item%209C.%20Disclosure%20Regarding%20Foreign%20Jurisdictions%20that%20Prevent%20Inspections) This item is not applicable to the company - None[544](index=544&type=chunk) PART III [Directors, Executive Officers and Corporate Governance](index=110&type=section&id=Item%2010.%20Directors%2C%20Executive%20Officers%20and%20Corporate%20Governance) Information for this item is incorporated by reference from the company's definitive Proxy Statement - The required information is incorporated by reference from the Company's definitive Proxy Statement[545](index=545&type=chunk) [Executive Compensation](index=110&type=section&id=Item%2011.%20Executive%20Compensation) Information for this item is incorporated by reference from the company's definitive Proxy Statement - The required information is incorporated by reference from the Company's definitive Proxy Statement[546](index=546&type=chunk) [Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters](index=110&type=section&id=Item%2012.%20Security%20Ownership%20of%20Certain%20Beneficial%20Owners%20and%20Management%20and%20Related%20Stockholder%20Matters) Security ownership information is incorporated by reference, with details on equity compensation plan issuances and available securities Equity Compensation Plan Information | Plan Category | Securities to be issued upon exercise | Securities remaining available for future issuance | | :--- | :--- | :--- | | Equity compensation plans approved by stockholders | **9,100** | **384,182** | [Certain Relationships and Related Transactions, and Director Independence](index=110&type=section&id=Item%2013.%20Certain%20Relationships%20and%20Related%20Transactions%2C%20and%20Director%20Independence) Information for this item is incorporated by reference from the company's definitive Proxy Statement - The required information is incorporated by reference from the Company's definitive Proxy Statement[548](index=548&type=chunk) [Principal Accountant Fees and Services](index=110&type=section&id=Item%2014.%20Principal%20Accountant%20Fees%20and%20Services) **KPMG LLP** is the independent auditor, with fee and service information incorporated by reference from the Proxy Statement - The Company's independent registered public accounting firm is **KPMG LLP**. Other required information is incorporated by reference from the Company's definitive Proxy Statement[549](index=549&type=chunk) PART IV [Exhibits and Financial Statement Schedules](index=111&type=section&id=Item%2015.%20Exhibits%20and%20Financial%20Statement%20Schedules) This section lists financial statements and provides an index of exhibits, including the merger agreement with **Salisbury Bancorp** - This section lists the financial statements filed with the report and provides an index of exhibits, including the merger agreement with **Salisbury Bancorp, Inc**[550](index=550&type=chunk)[557](index=557&type=chunk) [Form 10-K Summary](index=113&type=section&id=Item%2016.%20Form%2010-K%20Summary) The company has not provided a summary for this item - None[560](index=560&type=chunk)

− Approximately 51% of deposits come from MSAs where NBTB holds a top 5 rank − Approximately 92% of deposits come from counties where NBTB holds a top 10 rank − Approximately 72% of deposits come from counties where NBTB holds a top 5 rank Retail, Commercial and Municipal deposits generated from long-duration relationships One of only a few $10+ billion banks in New England (most are either much larger or smaller) Vermont − Market share dominated by larger banks. Opportunity for locally-focused bank − $704 ...

NBT Bancorp Inc. (NASDAQ:NBTB) Q4 2022 Earnings Conference Call January 24, 2023 8:30 AM ET Company Participants John H. Watt, Jr. - President & Chief Executive Officer Scott Kingsley - Chief Financial Officer Conference Call Participants Steve Moss - Raymond James Alex Twerdahl - Piper Sandler & Company Chris O'Connell - KBW Matthew Breese - Stephens Inc. Operator Good day, everyone. Welcome to the conference call covering NBT Bancorp's Fourth Quarter and Full Year 2022 Financial Results. This call is bein ...

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 September 30, 2022. 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 ...

NBT Bancorp Inc. (NASDAQ:NBTB) Q3 2022 Earnings Conference Call October 26, 2022 8:30 AM ET Company Participants John Watt - President & CEO Scott Kingsley - CFO Annette Burns - CAO Conference Call Participants Alexander Twerdahl - Piper Sandler Companies Christopher O'Connell - KBW Operator Good day, everyone and welcome to the NBT Bancorp Third Quarter 2022 Financial Results Conference Call. This call is being recorded and has been made accessible to the public in accordance with the SEC's Regulation FD. ...

NBT Bancorp Inc. Q3 2022 Earnings Presentation Forward-Looking Statements This presentation contains forward-looking statements, as defined in the Private Securities Litigation Reform Act of 1995. These statements may be identified by the use of phrases such as "anticipate," "believe," "expect," "forecasts," "projects," "will," "can," "would," "should," "could," "may," or other similar terms. There are a number of factors, many of which are beyond the Company's control that could cause actual results to dif ...