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NBT Bancorp Inc. reports news around community banking results and fee-based financial services. The financial holding company operates primarily through NBT Bank, N.A., a full-service community bank serving markets in New York, Pennsylvania, Vermont, Massachusetts, New Hampshire, Maine and Connecticut, and through EPIC Retirement Plan Services and NBT Insurance Agency.
Recurring updates cover net income, net interest income and margin, loan and deposit balances, asset quality, service charges, retirement plan administration fees, cash dividends and conference-call materials. Company releases also discuss the completed Evans Bancorp acquisition and the related expansion of NBT's Western New York banking presence.
NBT Bancorp Inc. (NASDAQ: NBTB) will announce its third quarter 2020 financial results on October 26, 2020, after market close. A conference call reviewing these results is scheduled for October 27, 2020, at 8:30 a.m. Eastern Time. The audio link will be available on the Investor Relations page of NBT's website, and the call will be archived for one year. NBT Bancorp, based in Norwich, NY, has total assets of $10.8 billion as of June 30, 2020, operating through NBT Bank and its financial services subsidiaries.
NBT Bancorp reported a net income of $24.7 million or $0.56 per diluted share for Q2 2020, an increase from Q1, driven by lower loan loss provisions and expenses. However, it declined by $5.8 million year-over-year due to higher provisions related to COVID-19. Pre-provision net revenue rose to $50.7 million. The bank facilitated $547 million in Paycheck Protection Program loans, supporting over 61,000 jobs. Total loans were $7.6 billion, while capital ratios remained strong with a CET1 ratio of 11.34%. The company declared a quarterly dividend of $0.27 per share.
NBT Bancorp Inc. will announce its second-quarter 2020 financial results on July 27, 2020, after market close. Following this, a conference call will occur on July 28, 2020, at 8:30 a.m. Eastern Time to discuss the results. The audio from the call will be accessible via the Investor Relations section of the company's website.
As of March 31, 2020, NBT Bancorp reported total assets of $9.95 billion and operates primarily through NBT Bank, which has 146 banking locations across multiple states.
NBT Bancorp Inc. (NASDAQ: NBTB) announced a public offering of $100 million in 5.000% Fixed-to-Floating Rate Subordinated Notes due 2030. The notes will accrue interest at 5.000% until July 2025, transitioning to a floating rate thereafter. The offering is expected to close on June 23, 2020. The net proceeds, estimated at $98 million, will support various corporate purposes including working capital and regulatory capital for the bank. Keefe, Bruyette & Woods and Piper Sandler are the joint book-running managers for this offering.
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