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 reported a net income of $33.7 million, or $0.78 per diluted share, for Q1 2023, a decrease from $39.1 million in Q1 2022. The company's net interest income rose by 18% year-over-year due to higher yields influenced by Federal Reserve rate increases, despite higher costs of interest-bearing liabilities. A provision for loan losses of $3.9 million was recorded, significantly higher than $0.6 million in the previous year. Noninterest income decreased to $36.4 million, reflecting a $4.0 million drop in card services income due to the Durbin Amendment's impact. NBT completed a substantial merger approval, expecting finalization by late Q2 2023. The CET1 capital ratio stood at 12.28%, maintaining strong capital positions amid market volatility.
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