NBT Bancorp (US:NBTB)2022-04-29 14:47Financial 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]