Nbt Bancorp Inc Stock Price, News & Analysis

NBT Bancorp reported a net income of $39.1 million, or $0.90 per diluted share, for Q1 2022, slightly down from $39.8 million in Q1 2021. The net interest income from the Paycheck Protection Program (PPP) was $2.0 million, significantly lower than the previous year. However, excluding PPP, net interest income improved due to organic loan growth and a favorable deposit cost environment. Noninterest income rose 15.2% year-over-year to $42.7 million. Operating expenses increased by 6.3%, while provision for loan losses was $0.6 million. Strong asset quality was reported with low levels of nonperforming assets.

NBT Bancorp Inc. (NBT) has announced the appointment of M. Randolph "Randy" Sparks as Executive Vice President and General Counsel. Sparks will oversee NBT's legal activities and manage relations with regulatory agencies. He brings extensive experience from his previous roles, including General Counsel at MidFirst Bank and Chief Counsel at Bank of America. His addition to the Executive Management Team is seen as a strategic move to support NBT’s growth initiatives. Sparks holds a Juris Doctor from DePaul University, an MBA from St. Louis University, and a Bachelor's in Accounting.

NBT Bancorp Inc. (NASDAQ: NBTB) will release its first quarter 2022 financial results on April 25, 2022, after market close. A conference call is scheduled for April 26, 2022, at 8:30 a.m. Eastern to discuss these results. The audio webcast and presentation slides will be available on the company’s Event Calendar page. NBT Bancorp operates as a financial holding company, with total assets of $12.0 billion as of December 31, 2021, through its bank and financial service subsidiaries.

NBT Bancorp reported a net income of $154.9 million for the year ended December 31, 2021, marking a 48.4% increase year-over-year, with diluted earnings per share of $3.54, up 49.4%. The fourth quarter saw net income of $37.3 million and diluted earnings per share of $0.86. Key drivers included increases in net interest income and noninterest income, alongside a rise in Paycheck Protection Program loan income by $7.1 million. A cash dividend of $0.28 per share was declared, payable on March 15, 2022.

NBT Bancorp announces the addition of Heidi M. Hoeller to its Board of Directors, enhancing its financial oversight. Hoeller, a retired Partner at PricewaterhouseCoopers with 25 years of experience, held several key roles, including Audit Partner in the insurance sector. NBT’s Board Chair, Martin A. Dietrich, expressed enthusiasm for Hoeller’s extensive background in public accounting and her knowledge of financial services. NBT Bancorp, headquartered in Norwich, NY, has total assets of $12.0 billion as of December 31, 2021.

On January 12, 2022, NBT Bank announced the launch of the NBT iSelect Account, designed to enhance financial accessibility. This account has been certified by the Cities for Financial Empowerment Fund under the Bank On National Account Standards. It features no monthly fees, no overdraft charges, and no minimum balance requirements, making it ideal for the unbanked and underbanked. NBT Bank aims to support customers' financial health with transparent and affordable services. The bank holds assets of $12 billion and operates across seven states.

NBT Bancorp Inc. (NASDAQ: NBTB) will announce its fourth quarter 2021 financial results on January 26, 2022, after market close. A conference call is scheduled for January 27 at 8:30 a.m. (Eastern). The company has amended its stock repurchase program, allowing for the buyback of up to 2 million shares by December 31, 2023, depending on market conditions. NBT Bancorp manages assets worth $12 billion as of September 30, 2021, operating primarily through NBT Bank, N.A., which has 140 locations across several states.

NBT Bancorp reported a net income of $37.4 million, or $0.86 per diluted share for Q3 2021, marking a $2.3 million increase from Q3 2020 due to adjustments in expected credit losses related to COVID-19. However, net income decreased $2.9 million from Q2 2021, attributed to lower benefits from loan loss provisions and higher expenses. The company declared a $0.28 dividend for Q4 2021, a 3.7% increase from 2020. Total loans stood at $7.6 billion, with a nonperforming loan ratio of 0.51%.

NBT Bancorp Inc. (NASDAQ: NBTB) is set to release its third quarter 2021 financial results on October 26, 2021, post market close. Following this, a conference call will be held on October 27, 2021, at 8:30 a.m. Eastern to discuss the results. The audio of the call, including presentation slides, will be available on the Company's website and will be archived for twelve months. As of June 30, 2021, NBT reported total assets of $11.6 billion and operates over 140 banking locations across several states.