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)

NBT Bancorp Inc. Q2 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) Q2 2021 Earnings Conference Call July 27, 2021 8:30 AM ET Company Participants John Watt - President and Chief Executive Officer Scott Kingsley - Chief Financial Officer Annette Burns - Chief Accounting Officer Joe Ondesko - Treasurer Conference Call Participants Alex Twerdahl - Piper Sandler Matthew Breese - Stephens Inc. Erik Zwick - Boenning & Scattergood Operator Good day, everyone. Welcome to the NBT Bancorp Second Quarter 2021 Financial Results Conference Call. This call ...

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, 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 of I ...

NBT Bancorp Inc. Q1 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 ...

Financial Data and Key Metrics Changes - The company reported earnings per share of $0.91 for Q1 2021, with pre-provision net revenue increasing by 6% year-over-year [4][10] - A negative provision of $2.8 million was recorded, with charge-offs remaining low at 13 basis points, and reserve coverage slightly decreased to 1.48% from 1.56% in the previous quarter [10][20] - Tangible book value per share increased by 1% quarter-over-quarter and nearly 10% year-over-year [11] Business Line Data and Key Metrics Changes - Commercial loans grew nearly 7% on a linked-quarter annualized basis, with core loans (excluding PPP) up approximately $30 million for the quarter [12] - The Wealth Management business reached a record level of $9.3 billion in assets under management and administration [6] - Indirect auto originations exceeded targets for each month of the first quarter [5] Market Data and Key Metrics Changes - Deposits increased by about $735 million for the quarter, with core deposits up $760 million, indicating elevated customer cash levels due to government support programs [14] - Non-interest income, excluding securities gains and losses, was slightly down linked-quarter at $37 million, with retail banking fees decreasing due to lower overdrafts and service charges [17][18] Company Strategy and Development Direction - The company is optimistic about the economic recovery and is well-positioned to serve customers with enhanced products and services, particularly in digital banking [5] - NBT Bancorp aims to leverage market disruptions to drive organic growth and is open to strategic acquisitions if the right opportunities arise [7][40][66] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the momentum of the economy and the potential for increased lending activity in the second half of the year [34] - The company anticipates continued core margin compression due to a lower rate environment but expects stability in net interest income dollars as liquidity is deployed into productive earning assets [16][25] Other Important Information - The Board of Directors approved a dividend of $0.21 payable in June [8] - The company is experiencing a gradual decrease in the provision for unfunded commitments and expects operating expenses to rise as the operating environment normalizes [19][20] Q&A Session Summary Question: Stability of NII and PPP Impact - Management clarified that the stability in net interest income (NII) excludes the volatility from the PPP program [30] Question: Loan Pipelines and Recovery Prospects - Management expressed optimism about substantial mortgage pipelines and strong commercial loan originations, anticipating continued momentum [34] Question: M&A Opportunities - Management indicated that while organic growth is the primary strategy, they are open to considering strategic acquisitions if the right opportunities arise [40][66] Question: Non-Interest Expenses and Digital Platform Costs - Management noted that elevated costs related to the digitized PPP platform are expected to normalize as the program wraps up [51] Question: Deposit Stickiness and Investment Opportunities - Management acknowledged that deposits have proven stickier than expected and are evaluating opportunities to grow the investment book [59] Question: Auto Market Challenges - Management has not yet seen significant challenges in the auto market due to semiconductor shortages but remains vigilant [62] Question: Market Disruption and Client Acquisition - Management is leveraging market disruptions to attract clients and is evaluating expansion opportunities in disrupted markets [66][68]

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, 2020 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. Q4 2020 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 ...