Welcome to our dedicated page for Nbt Bancorp news (Ticker: NBTB), a resource for investors and traders seeking the latest updates and insights on Nbt Bancorp stock.
NBT Bancorp Inc (NBTB) delivers community banking, retirement services, and insurance solutions across six northeastern states. This news hub provides investors and stakeholders with timely updates on financial performance, strategic initiatives, and regulatory developments.
Access official earnings releases, leadership announcements, and service expansion updates in one centralized location. Our curated collection features critical developments in commercial lending, 401(k) recordkeeping, and multi-state banking operations, helping you track the company's evolving market position.
Key updates include quarterly financial results, merger/acquisition activity, product launches, and regulatory filings. Bookmark this page for direct access to primary source materials from NBT Bank, Epic Advisors, and NBT-Mang Insurance Agency.
NBT Bancorp Inc. (NASDAQ: NBTB) and Evans Bancorp, Inc. (NYSE American: EVBN) have announced a strategic merger, with Evans merging into NBT. The deal, valued at approximately $236 million, will expand NBT's presence into Western New York, including Buffalo and Rochester markets. Key points:
- Exchange ratio: 0.91 NBT shares for each Evans share
- Combined organization will have the highest deposit market share in Upstate New York for banks under $100 billion in assets
- Network of over 170 locations from Buffalo, NY to Portland, ME
- Evans CEO David J. Nasca will join NBT's Board of Directors
- Merger expected to close in Q2 2025, subject to shareholder and regulatory approvals
This partnership aims to bring enhanced financial products and services to the region while maintaining a strong community banking focus.
NBT Bancorp Inc. (NASDAQ: NBTB) reported net income of $32.7 million, or $0.69 per diluted share, for Q2 2024. The company's performance highlights include:
- Net interest income increased to $97.8 million, up $2 million from the previous quarter
- Net interest margin improved to 3.18%, up 4 basis points from Q1 2024
- Record noninterest income of $43.3 million, representing 30.8% of total revenues
- Total loans grew to $9.85 billion, up $203.6 million from December 31, 2023
- Deposits increased to $11.27 billion, up $302.5 million from December 31, 2023
The Board of Directors approved a 6.3% increase in the quarterly cash dividend to $0.34 per share, marking the company's twelfth consecutive year of dividend increases.
NBT Bancorp (NASDAQ: NBTB) will release its Q2 2024 financial results on July 22, 2024, after market close. A conference call to discuss these results is scheduled for July 23, 2024, at 10:00 a.m. Eastern Time. The call can be accessed via an audio webcast and corresponding presentation slides available on the Company's Event Calendar webpage. Additionally, the call will be archived on the Company’s website for twelve months.
NBT Bancorp, headquartered in Norwich, NY, reported total assets of $13.44 billion as of March 31, 2024. The Company operates primarily through NBT Bank, N.A., which has 154 locations across seven states. Other divisions include EPIC Retirement Plan Services and NBT Insurance Agency.
On May 21, 2024, NBT Bancorp announced a second-quarter cash dividend of $0.32 per share, approved by its Board of Directors.
The dividend is scheduled to be paid on June 17, 2024, to shareholders recorded by June 3, 2024.
As of March 31, 2024, NBT Bancorp holds assets worth $13.44 billion.
The company operates primarily through NBT Bank, which has 154 locations across seven states, and two financial services companies: EPIC Retirement Plan Services and NBT Insurance Agency.
NBT Bancorp Inc. (NASDAQ: NBTB) has successfully executed its CEO Succession Plan, with Scott A. Kingsley taking over as President and CEO from John H. Watt, Jr., who will remain on the Board as Vice Chairman.
Additionally, Joseph R. Stagliano has been promoted to President of NBT Bank, N.A.; Annette L. Burns to Executive Vice President and CFO; and Shauna M. Hyle to Executive Vice President, Retail Community Banking.
Kingsley, who joined NBT in 2021, has over 35 years of experience in various financial and operational roles. Stagliano, Burns, and Hyle bring decades of expertise in banking and financial services.
NBT Bancorp Inc., headquartered in Norwich, NY, operates NBT Bank, N.A., with 154 banking locations across several states, and also runs EPIC Advisors, Inc. and NBT Insurance Agency, As of March 31, 2024, NBT's total assets were $13.44 billion.
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