NBT Bancorp Inc. Announces Record Third Quarter 2025 Results and Declares Cash Dividend

Core Insights - NBT Bancorp Inc. reported record net income of $54.5 million and diluted earnings per share of $1.03 for Q3 2025, reflecting significant growth compared to previous periods [2][4] - The acquisition of Evans Bancorp contributed to the increase in net income and earnings per share, with the company adding $1.67 billion in loans and $1.86 billion in deposits [3][4] - The company achieved a return on average assets of 1.35% and a return on average tangible common equity of 17.35% for the third quarter [4][29] Financial Performance - Net interest income for Q3 2025 was $135.3 million, an increase of $10.4 million from Q2 2025 and $33.0 million from Q3 2024, driven by the Evans acquisition and higher earning asset yields [4][10] - The net interest margin (NIM) on a fully taxable equivalent basis was 3.66%, up 7 basis points from the prior quarter and 39 basis points from the same quarter last year [4][10] - Noninterest income was $51.4 million, representing 28% of total revenues, and increased by 9.8% from Q2 2025 and 13.5% from Q3 2024 [11][13] Loan and Deposit Growth - Total loans at the end of Q3 2025 were $11.60 billion, up from $9.97 billion at the end of 2024, with a significant portion attributed to the Evans acquisition [10][31] - Total deposits reached $13.66 billion, compared to $11.55 billion at the end of 2024, with organic growth also contributing to the increase [10][31] - The loan-to-deposit ratio was 84.9% at the end of Q3 2025, down from 86.3% at the end of 2024 [10] Asset Quality - The allowance for loan losses was $139 million, or 1.20% of total loans, with net charge-offs to average loans at 0.15% annualized [9][31] - Nonperforming loans to total loans stood at 0.46%, while nonperforming assets to total assets was 0.33% [9][31] Capital and Dividends - Stockholders' equity was $1.85 billion, with a tangible book value per share of $25.51 as of September 30, 2025 [4][22] - The company approved a quarterly cash dividend of $0.37 per share, marking an 8.8% increase over the previous year, continuing a trend of annual dividend increases for thirteen consecutive years [4][17] Corporate Overview - NBT Bancorp Inc. is a financial holding company with total assets of $16.11 billion, operating primarily through NBT Bank, N.A. and two financial services companies [20][34]