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 ...

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, 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) (State of Incorporation) (I.R.S. ...

Financial Data and Key Metrics Changes - The company's earnings per share for Q2 2022 was $0.88, down from $0.92 in Q2 2021 and $0.02 lower than Q1 2022 [11] - Return on Assets (ROA) was reported at 1.28% and Return on Average Tangible Common Equity (ROATCE) at 17% [4] - Net interest income increased by $8.4 million compared to Q2 2021 and $7.2 million from Q1 2022, with a net interest margin of 3.21%, up 26 basis points from Q1 2022 and 21 basis points from Q2 2021 [16] Business Line Data and Key Metrics Changes - Commercial loan originations reached $310 million, a 24% increase from the previous quarter [5] - Non-interest income accounted for nearly 33% of total revenue, with fee income up 8% year-over-year to $42.2 million [18] - The residential solar partnership with Sungage showed strong performance, with notable loan originations and pristine credit quality [6] Market Data and Key Metrics Changes - Total loans, excluding PPP, increased by $162 million for the quarter, with growth in both consumer and commercial portfolios [14] - Total PPP balances decreased to just over $17 million, with forgiveness nearly complete for 2020 and 2021 vintage loans [14] - Deposits decreased by $433 million from the end of Q1 2022, primarily due to a $100 million brokered deposit maturity and seasonal declines in municipal deposits [15] Company Strategy and Development Direction - The company is well-positioned with strong liquidity and capital levels, a diversified business mix, and effective risk management practices [9] - The management remains cautious about the operating environment but sees strong consumer demand and healthy credit quality [7] - The company continues to explore growth opportunities, including potential M&A, while being selective about partners [35][36] Management's Comments on Operating Environment and Future Outlook - Management noted that while there is potential for increased uncertainty and volatility, the company is prepared with strong fundamentals [9] - The management expressed confidence in the consumer's ability to navigate rising costs, with no observed deterioration in credit quality as of the end of Q2 2022 [82] - The company anticipates continued net interest margin improvement as interest rates rise, with expectations for higher yields on variable rate earning assets [17][70] Other Important Information - The Board of Directors approved a 7% increase in the dividend, marking the 10th consecutive year of annual dividend increases [8] - Total operating expenses for the quarter were $76.1 million, up 6.6% from Q2 2021, driven by higher salaries and employee benefits [21] Q&A Session Summary Question: Momentum in the commercial loan portfolio - Management noted strong growth in commercial loans, particularly in New England and Northeastern Pennsylvania, with expectations for continued activity despite potential moderation due to higher rates [29][30] Question: Increase in Allowance for Credit Losses (ACL) - The increase in ACL was described as prudent, considering uncertainties in the macroeconomic environment, with provisions made to cover minimal charge-offs and support portfolio growth [32][33] Question: M&A strategy amidst changing interest rates - The management confirmed a cautious approach to M&A, with ongoing discussions with potential partners, but noted a slight pause due to the impact of rising rates on valuations [35][39] Question: Expense guidance and hiring outlook - The company expects operating expenses to drift modestly higher, with ongoing efforts to fill open positions to support growth objectives [45] Question: Deposit flows and customer behavior - Management highlighted a significant drop in deposits due to seasonal factors and brokered deposit maturities, but remains optimistic about adding new accounts [46][50] Question: Fee income outlook in retirement and wealth management - Management expressed confidence in the growth potential of retirement plan administration and wealth management, despite market impacts on revenues [55][56]

NBT Bancorp Inc. Q2 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 ...

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 ...

Loan Portfolio and Credit Risk - As of December 31, 2021, approximately 52% of the Company's loan portfolio consisted of commercial and industrial, agricultural, commercial construction, and commercial real estate loans, which expose the Company to greater risk of non-payment compared to residential real estate loans [118]. - The Company maintains an allowance for loan losses, which is subject to significant estimates of current credit risks and economic conditions, and may require increases that could adversely affect net income and capital [119]. - A reduction in the Company's credit rating could adversely affect access to liquidity and capital, increasing the cost of funds and impacting growth [125]. Financial Position and Regulatory Compliance - The Company had total assets of $12.0 billion as of December 31, 2021, exceeding the $10 billion threshold that subjects it to enhanced regulatory requirements under the Dodd-Frank Act [132]. - The Company is subject to extensive government regulation, which may impose additional costs and limit the types of financial services offered [130]. - The company faces significant compliance costs due to new regulatory requirements, which may adversely affect its financial condition [135]. Economic Conditions and Market Risks - Changes in economic conditions, such as inflation or interest rate increases, could adversely affect the Company's financial position and results of operations [127]. - Liquidity management is critical, with a basic surplus measure that must remain above the minimum policy level of 5%, and pressures may arise if loan growth exceeds deposit growth [123]. - The Company faces strong competition from various financial institutions, which may limit its ability to grow and maintain profitability [120]. Operational Risks - The Company relies on third-party vendors for key business operations, and any disruptions could negatively impact service delivery and operational performance [126]. - The introduction of new products and services carries substantial risks, including potential delays and challenges in meeting profitability targets [129]. - Cybersecurity risks pose a threat to the company's operations and financial condition, with potential for significant harm from data breaches [147]. Environmental and Legal Risks - The company is exposed to environmental liabilities related to real estate properties, which could result in substantial financial losses [141]. - The company is involved in various legal proceedings that could materially affect its financial condition and results of operations [146]. Technological Adaptation and Management - The company relies on technology to enhance efficiency and customer service, and failure to adapt to technological changes could adversely impact its business [152]. - The company is dependent on its executive management team, and the loss of key personnel could negatively impact its operations [155]. Stock Price and Future Acquisitions - The company's common stock price may fluctuate significantly due to various factors, including market conditions and regulatory actions [153]. - Future acquisitions may present risks that could adversely affect the company's financial condition and operational results [154].

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 ...