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, 2022. OR 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 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 (State of I ...

Financial Performance - Net income was $39.1 million, resulting in diluted earnings per share of $0.90, a 5% increase from the previous quarter[6,9] - Return on average tangible common equity was 16.87% for Q1 2022, up from 15.70% in the prior quarter[6] - Noninterest income increased by 15% year-over-year and 4% from the previous quarter, representing 35% of total revenues[6] - Net interest income decreased $4.8 million to $80.6 million[29] - Net interest margin decreased 13 bps to 2.95%[29] Balance Sheet & Asset Quality - Total loans reached $7.65 billion, including $51 million in PPP outstandings, with growth in all portfolios[6] - Excluding PPP loans, loans were up $202 million, or 2.7% linked quarter[6,9,15] - Deposits totaled $10.5 billion, up $227 million from the prior quarter, with a total cost of deposits at 0.07% for Q1 2022[6] - Allowance for loan losses to total loans was 1.18%, compared to 1.23% in Q4 2021[6] - Nonperforming loans declined 15% from the previous quarter to $27.8 million[6] Capital Strength - Tangible book value per share was $21.25 at Q1 2022[7,9] - Total risk-based capital grew 6% from March 31, 2021, to March 31, 2022[7]

NBT Bancorp, Inc. (NASDAQ:NBTB) Q1 2022 Earnings Conference Call April 26, 2022 8:30 AM ET Company Participants John Watt ??? President and Chief Executive Officer Scott Kingsley ??? Chief Financial Officer Conference Call Participants Alex Twerdah ??? Piper Sandler Matthew Breese ??? Stephens Incorporated Chris O???Connell ??? Keefe, Bruyette & Woods, Inc. Operator Good day, everyone. Welcome to the NBT Bancorp, First Quarter 2022, Financial Results Conference Call. This call is being recorded and has been ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-K (MARK ONE) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE FISCAL YEAR ENDED DECEMBER 31, 2021 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 other jur ...

NBT Bancorp Inc. Fourth Quarter 2021 Investor Presentation | --- | --- | --- | --- | |-------|-----------------------|-------|-------| | | | | | | | | | | | | | | | | | Overview | | | | | | | | | | About NBT Bancorp | | | | | Strategic Initiatives | | | | | Financial Performance | | | | | Appendix | | | 2 Company Profile Assets under management and assets under administration in wealth management; excludes EPIC. 2. Assets under administration in EPIC, includes ABG. 3. As of September 30, 2021. 4. Market Cap ...

NBT Bancorp Inc. (NASDAQ:NBTB) Q4 2021 Results Conference Call January 27, 2022 8:30 AM ET Company Participants John Watt - President & Chief Executive Officer Scott Kingsley - Chief Financial Officer Annette Burns - Chief Accounting Officer Joe Ondesko - Treasurer Conference Call Participants Alex Twerdahl - Piper Sandler Eric Zwick - Boenning and Scattergood Chris O'Connell - KBW Matthew Breese - Stephens Inc Operator Good day, everyone. Welcome to the NBT Bancorp Fourth Quarter 2021 Financial Results Co ...

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, 2021. 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. Q3 2021 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 ...

NBT Bancorp Inc. (NASDAQ:NBTB) Q3 2021 Earnings Conference Call October 27, 2021 8:30 AM ET Company Participants John Watt - President & Chief Executive Officer Scott Kingsley - Chief Financial Officer Conference Call Participants Alex Twerdahl - Piper Sandler Eric Zwick - Boenning and Scattergood Operator Good day, everyone. Welcome to the NBT Bancorp Third Quarter 2021 Financial Results Conference Call. This call is being recorded and has been made accessible to the public in accordance with the SEC's Reg ...

PART I FINANCIAL INFORMATION NBT Bancorp Inc.'s unaudited interim consolidated financial statements for the period ended June 30, 2021 are presented [Item 1: Financial Statements](index=3&type=section&id=Item%201%20Financial%20Statements) This section presents NBT Bancorp Inc.'s unaudited interim consolidated financial statements for the period ended June 30, 2021 Consolidated Balance Sheet Highlights (Unaudited, In Thousands) | Metric (In Thousands) | June 30, 2021 | December 31, 2020 | | :--- | :--- | :--- | | **Total Assets** | **$11,574,947** | **$10,932,906** | | Net Loans | $7,419,127 | $7,388,885 | | Total Deposits | $9,785,257 | $9,081,692 | | **Total Liabilities** | **$10,349,891** | **$9,745,288** | | **Total Stockholders' Equity** | **$1,225,056** | **$1,187,618** | Consolidated Income Statement Highlights (Unaudited, In Thousands, Except Per Share Data) | Metric (In Thousands, Except Per Share Data) | Three Months Ended June 30, 2021 | Six Months Ended June 30, 2021 | | :--- | :--- | :--- | | Net Interest Income | $79,178 | $158,233 | | Provision for Loan Losses | $(5,216) | $(8,012) | | **Net Income** | **$40,296** | **$80,142** | | **Diluted EPS** | **$0.92** | **$1.83** | Consolidated Cash Flow Highlights (Unaudited, In Thousands) | Metric (In Thousands) | Six Months Ended June 30, 2021 | Six Months Ended June 30, 2020 | | :--- | :--- | :--- | | Net cash provided by operating activities | $95,687 | $77,042 | | Net cash used in investing activities | $(266,980) | $(572,155) | | Net cash provided by financing activities | $565,555 | $977,762 | | **Net increase in cash and cash equivalents** | **$394,262** | **$482,649** | - The Allowance for Credit Losses (ACL) decreased from **$110.0 million** at year-end 2020 to **$98.5 million** at June 30, 2021, primarily due to an improved macroeconomic forecast. The ACL as a percentage of loans was **1.31%** at June 30, 2021[33](index=33&type=chunk)[42](index=42&type=chunk) - As of June 30, 2021, the company had **$32.3 million** in loans under modification programs related to COVID-19. These modifications are generally not accounted for as Troubled Debt Restructurings (TDRs) under the CARES Act provisions[40](index=40&type=chunk)[60](index=60&type=chunk) [Item 2: 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) Management analyzes the company's financial performance, condition, and key trends, including COVID-19 impact and asset quality [Overview and COVID-19 Response](index=31&type=section&id=Overview%20and%20COVID-19%20Response) Strong Q2 2021 results are highlighted, detailing the company's COVID-19 response and PPP participation Q2 2021 Performance Highlights | Metric | Q2 2021 | Change from Q2 2020 | | :--- | :--- | :--- | | Net Income | $40.3 million | +$15.6 million | | Diluted EPS | $0.92 | +$0.36 | | Period End Loans | $7.5 billion | +1% annualized from YE2020 | | Net Charge-offs to Avg Loans | 0.07% | - | | Tangible Book Value/Share | $21.50 | +10% | - The company has been an active participant in the PPP, processing approximately **3,100 loans** totaling **$287 million** in the first six months of 2021. As of June 30, 2021, **$365.1 million** in PPP loans had been forgiven by the SBA[119](index=119&type=chunk) - In response to the pandemic, the company provided payment relief for customers, offered special lending programs, and established a committee to ensure employee and customer safety across its operations[118](index=118&type=chunk)[123](index=123&type=chunk) [Results of Operations](index=32&type=section&id=Results%20of%20Operations) Q2 2021 operational results detail net income growth, stable net interest income, and increased noninterest income and expenses Key Performance Ratios (Annualized) | Ratio | Q2 2021 | Q2 2020 | | :--- | :--- | :--- | | Return on Average Assets | 1.39% | 0.94% | | Return on Average Equity | 13.42% | 8.76% | | Return on Avg Tangible Common Equity | 17.93% | 12.14% | - Net interest income for Q2 2021 was **$79.2 million**, down **1.6%** from Q2 2020. The fully taxable equivalent (FTE) net interest margin decreased by **38 basis points** to **3.00%**, primarily due to a **50 bps** decline in the yield on average interest-earning assets[130](index=130&type=chunk) - Noninterest income for Q2 2021 increased by **$4.3 million (12.3%)** compared to Q2 2020, driven by higher ATM/debit card fees, wealth management fees, and retirement plan administration fees[141](index=141&type=chunk) - Noninterest expense for Q2 2021 rose by **$6.1 million (9.3%)** from Q2 2020, attributed to higher salaries, increased technology-related equipment expenses, and **$1.9 million** in non-recurring costs, including a legal settlement charge[144](index=144&type=chunk) [Analysis of Financial Condition](index=39&type=section&id=Analysis%20of%20Financial%20Condition) Analysis of financial condition covers asset growth, loan portfolio changes, improved asset quality, and reduced credit loss allowance - Total loans increased by **$18.7 million** from December 31, 2020. Excluding PPP loans, which decreased to **$359.7 million**, total loans grew by **$89.8 million**, driven by commercial and residential real estate[151](index=151&type=chunk) - The allowance for credit losses decreased to **$98.5 million** at June 30, 2021, from **$113.5 million** a year prior, primarily due to improved economic conditions in the CECL forecast. This resulted in a negative provision for loan losses of **($5.2) million** for Q2 2021[154](index=154&type=chunk)[155](index=155&type=chunk) Nonperforming Assets (In Thousands) | Metric (In Thousands) | June 30, 2021 | December 31, 2020 | | :--- | :--- | :--- | | Total nonperforming loans | $43,125 | $47,796 | | OREO | $798 | $1,458 | | **Total nonperforming assets** | **$43,923** | **$49,254** | | Nonperforming assets to total assets | 0.38% | 0.45% | - As of June 30, 2021, only **0.5%** of total loans (excluding PPP) were in payment deferral programs related to COVID-19, down from **1.6%** at year-end 2020[161](index=161&type=chunk) [Capital Resources](index=41&type=section&id=Capital%20Resources) The company maintains a 'well capitalized' status with strong regulatory ratios, stable equity, share repurchases, and increased dividends Regulatory Capital Ratios | Capital Ratio | June 30, 2021 | Well-Capitalized Minimum | | :--- | :--- | :--- | | Tier 1 Leverage Ratio | 9.40% | 5.00% | | Common Equity Tier 1 Capital Ratio | 12.12% | 6.50% | | Tier 1 Capital Ratio | 13.34% | 8.00% | | Total Risk-Based Capital Ratio | 15.78% | 10.00% | - The Board of Directors approved a third-quarter 2021 cash dividend of **$0.28 per share**, a **3.7%** increase from the prior dividend[169](index=169&type=chunk) - During Q2 2021, the company repurchased **23,627 shares** of common stock at an average price of **$36.03 per share**. As of June 30, 2021, **1,719,342 shares** remained available for repurchase under the existing plan[168](index=168&type=chunk) [Liquidity and Interest Rate Sensitivity Management](index=43&type=section&id=Liquidity%20and%20Interest%20Rate%20Sensitivity%20Management) The company's strong liquidity and interest rate sensitivity are detailed, showing resilience to rate shock scenarios Interest Rate Sensitivity Analysis (12-Month NII Change) | Change in Interest Rates (bps) | Percent Change in Net Interest Income | | :--- | :--- | | +200 | 6.07% | | +100 | 2.80% | | -50 | (0.87%) | - The company's primary liquidity measure, 'Basic Surplus,' was **$3.3 billion (28.9% of total assets)** at June 30, 2021, significantly exceeding the internal minimum of **5%**[183](index=183&type=chunk) - As of June 30, 2021, the company had significant additional borrowing capacity, including approximately **$1.7 billion** from the FHLB and **$609.2 million** from the Federal Reserve's 'Borrower-in-Custody' program[184](index=184&type=chunk) [Item 3: Quantitative and Qualitative Disclosures about Market Risk](index=45&type=section&id=Item%203%20Quantitative%20and%20Qualitative%20Disclosures%20about%20Market%20Risk) Market risk disclosures are provided within the 'Liquidity and Interest Rate Sensitivity Management' section of the MD&A - Information regarding market risk is contained in the Liquidity and Interest Rate Sensitivity Management section of the MD&A[188](index=188&type=chunk) [Item 4: Controls and Procedures](index=45&type=section&id=Item%204%20Controls%20and%20Procedures) Management, including CEO and CFO, concluded disclosure controls and procedures were effective as of June 30, 2021 - Based on an evaluation by management, the CEO and CFO concluded that the company's disclosure controls and procedures were effective as of June 30, 2021[189](index=189&type=chunk) PART II OTHER INFORMATION This section provides additional information not covered in financial statements, including legal, risk, equity, and executive details [Item 1: Legal Proceedings](index=46&type=section&id=Item%201%20Legal%20Proceedings) The company reports no material legal proceedings beyond routine litigation incidental to its business - There are no material legal proceedings to report, other than ordinary litigation incidental to the business[191](index=191&type=chunk) [Item 1A: Risk Factors](index=46&type=section&id=Item%201A%20Risk%20Factors) No material changes to risk factors from the 2020 Annual Report on Form 10-K are reported - No material changes to the risk factors from the 2020 Annual Report on Form 10-K are reported[192](index=192&type=chunk) [Item 2: 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) Details of Q2 2021 common stock repurchases and remaining shares available under the plan are provided Share Repurchases in Q2 2021 | Period | Total Shares Purchased | Average Price Paid Per Share | | :--- | :--- | :--- | | April 2021 | - | - | | May 2021 | - | - | | June 2021 | 23,627 | $36.03 | | **Total Q2 2021** | **23,627** | **$36.03** | - As of June 30, 2021, **1,719,342 shares** were still available for repurchase under the existing plan set to expire on December 31, 2021[194](index=194&type=chunk) [Item 5: Other Information](index=47&type=section&id=Item%205%20Other%20Information) A new employment agreement for CFO Scott A. Kingsley is reported, outlining salary, benefits, and restrictive covenants - On August 5, 2021, NBT entered into a new employment agreement with CFO Scott A. Kingsley[195](index=195&type=chunk) - Key terms of the agreement include: - Annual base salary of at least **$500,000** - Eligibility for performance bonuses, stock plans, and other executive benefits - Customary non-competition and non-solicitation covenants effective during and for two years after employment[196](index=196&type=chunk)[197](index=197&type=chunk) [Item 6: Exhibits](index=48&type=section&id=Item%206%20Exhibits) Exhibits filed with the Form 10-Q are listed, including corporate governance documents and executive agreements - The exhibits filed with this report include corporate governance documents, CEO and CFO certifications as required by the Sarbanes-Oxley Act, and the employment agreement for Scott A. Kingsley[200](index=200&type=chunk)