NBT Bancorp (US:NBTB)2026-01-26 21:30Financial Performance - Net income for Q4 2025 was $55.5 million, or $1.06 per diluted share, up from $36.0 million, or $0.76 per diluted share in Q4 2024, and $54.5 million, or $1.03 per diluted share in Q3 2025 [2]. - Full year net income for 2025 was $169.2 million, or $3.33 per diluted share, compared to $140.6 million, or $2.97 per diluted share in 2024 [3]. - Operating diluted earnings per share for Q4 2025 was $1.05, compared to $0.77 in Q4 2024 [2]. - Diluted earnings per share for 2025 was $3.33, compared to $2.97 in 2024, reflecting a year-over-year increase [22]. - Return on average assets for 2025 was 1.11%, up from 1.04% in 2024 [22]. - Net income for 2025 reached $169,235,000, an increase from $140,641,000 in 2024, representing a growth of approximately 20.4% [29]. - Operating diluted earnings per share for 2025 was $3.82, compared to $2.94 in 2024, reflecting a year-over-year increase of 29.9% [29]. Asset and Loan Growth - Total assets were $16.00 billion as of December 31, 2025, with total deposits at $13.50 billion [17]. - Period end total loans were $11.60 billion, an increase of $1.63 billion, or 16.3%, from December 31, 2024 [7]. - Total loans increased to $11,598,114 thousand in Q4 2025 from $9,969,910 thousand in Q4 2024, reflecting a growth of approximately 16.3% year-over-year [24]. - Total assets increased to $16,086,195 thousand in Q4 2025, up from $15,988,299 thousand in Q3 2025, reflecting a growth of 0.61% [27]. - Average earning assets increased to $14,025,247,000 in 2025 from $12,449,064,000 in 2024, marking a rise of 12.7% [30]. Deposits and Equity - Total deposits increased by $1.95 billion, or 16.9%, from December 31, 2024, reaching $13.50 billion [7]. - Stockholders' equity increased by $370.1 million from December 31, 2024, driven by the Evans acquisition, net income generation of $169.2 million, and a decrease in accumulated other comprehensive loss [16]. - Total equity as of Q4 2025 was $1,896,216,000, up from $1,526,141,000 in Q4 2024, representing a growth of 24.2% [30]. Noninterest Income and Expenses - Noninterest income for Q4 2025 was $49.6 million, or 27% of total revenues, up $7.4 million, or 17.4%, from Q4 2024 [13]. - Total noninterest expense for Q4 2025 was $111,688, representing a 10.5% increase from $100,775 in Q4 2024 [25]. - Noninterest income for Q4 2025 reached $49,704, a 17.2% increase compared to $42,426 in Q4 2024 [25]. Interest Income and Margin - Total interest, fee, and dividend income for Q4 2025 was $188,544, an increase of 19.5% from $157,737 in Q4 2024 [25]. - Net interest income after provision for loan losses for Q4 2025 was $131,675, up 26.7% from $103,896 in Q4 2024 [25]. - Net interest margin (NIM) for Q4 2025 was 3.65%, a decrease of 1 basis point from the prior quarter [6]. - Net interest margin for 2025 was 3.59%, compared to 3.23% in 2024 [22]. - Net interest income for 2025 totaled $501,546,000, up from $400,122,000 in 2024, indicating a growth of 25.3% [30]. Acquisition and Growth Initiatives - The acquisition of Evans Bancorp added $1.67 billion in loans and $1.86 billion in deposits, with 200 new employees and 18 banking locations [4]. - Acquisition expenses for 2025 totaled $19,526,000, significantly higher than $1,531,000 in 2024, reflecting increased investment in growth initiatives [29]. Loan Quality and Allowance - The allowance for loan losses was $138.0 million, or 1.19% of total loans, at December 31, 2025, compared to $116.0 million, or 1.16% of total loans, at December 31, 2024 [10]. - Nonaccrual loans decreased to $44,592 thousand in Q4 2025 from $45,819 thousand in Q4 2024, a reduction of about 2.7% [23]. - Total nonperforming loans decreased to $51,723 thousand in Q4 2025 from $51,617 thousand in Q4 2024, showing a slight decline of 0.2% [23]. - The allowance for loan losses increased to $138,000 thousand in Q4 2025 from $116,000 thousand in Q4 2024, representing an increase of approximately 19.0% [24]. - The total nonperforming assets to total assets ratio remained stable at 0.33% in Q4 2025, unchanged from Q3 2025 [23].