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., headquartered in Norwich, NY, is a prominent financial services holding company operating through its key subsidiary, NBT Bank, N.A. This full-service community bank maintains over 155 locations across six states: New York, Pennsylvania, Vermont, Massachusetts, New Hampshire, and Maine, providing a broad spectrum of retail and commercial banking products along with trust and investment services.
Aside from traditional banking, NBT Bancorp also oversees EPIC Advisors, Inc., a comprehensive 401(k) plan recordkeeping firm based in Rochester, NY, and NBT-Mang Insurance Agency, a full-service insurance agency headquartered in Norwich, NY. The company's principal revenue sources include management fees and dividends from its subsidiaries.
With a diversified loan portfolio, NBT Bank offers consumer, home equity, mortgage, business banking, and commercial loans, with nearly half of its loan portfolio dedicated to commercial loans. This strategic focus on commercial lending underscores the bank's commitment to serving individuals, corporations, and municipalities effectively.
Recent financial highlights include robust performance in net interest income and margin, noninterest income, and forward-looking statements that project continued growth and stability. The bank's consistent quarterly financial results reflect its resilient business model and proactive financial management.
- Second Quarter Financial Highlights: Notable gains in net interest income and net interest margin.
- Third Quarter Financial Highlights: Continued strong financial performance and strategic growth initiatives.
- First Quarter 2024 Financial Highlights: Steady earnings and operational efficiency.
Emphasizing community banking values and a comprehensive service portfolio, NBT Bancorp Inc. remains a vital player in the financial services sector, committed to delivering value to its shareholders and customers alike.
Evans Bancorp (NYSE American: EVBN) reported fourth quarter 2024 net income of $3.7 million, or $0.67 per diluted share, including $1.1 million in merger-related expenses. The company's net interest margin improved to 2.96%, up 16 basis points from the previous quarter.
Key highlights include total loan growth of $63 million (4%) year-over-year, with a strong loan pipeline of $76 million. Total deposits increased by $148 million (9%) from December 2023. Shareholders approved the merger with NBT Bancorp Inc., expected to close in Q2 2025, with an exchange ratio of 0.91 NBT shares for each Evans share.
For full-year 2024, Evans reported net income of $12.0 million ($2.16 per diluted share), compared to $24.5 million in 2023. The year-over-year decrease primarily reflects the impact of the 2023 insurance agency sale.
NBT Bancorp (NASDAQ: NBTB) reported strong financial results for Q4 2024, with net income of $36.0 million ($0.76 per diluted share), up from $30.4 million ($0.64 per share) in Q4 2023. Full-year 2024 net income reached $140.6 million ($2.97 per share), compared to $118.8 million ($2.65 per share) in 2023.
Key highlights include three consecutive quarters of net interest income growth, with Q4 net interest margin at 3.34%. Total loans reached $9.97 billion, up 3.3% year-over-year, while deposits grew to $11.55 billion, a 5.3% increase. The Board approved a Q1 2025 cash dividend of $0.34 per share, representing a 6.3% increase.
The company received regulatory approval for its planned merger with Evans Bancorp, expected to close in Q2 2025. Evans shareholders showed strong support with over 96% approval votes.
NBT Bancorp (NASDAQ: NBTB) has announced its fourth quarter 2024 financial results will be released on Monday, January 27, 2025, after market close. The company will host a conference call to discuss these results on Tuesday, January 28, 2025, at 10:00 a.m. Eastern time.
Investors can access the audio webcast and presentation slides through NBT's Event Calendar page on their website. The call recording will be archived and accessible for twelve months at no cost.
NBT Bancorp is a financial holding company based in Norwich, NY, with total assets of $13.84 billion as of September 30, 2024. The company operates primarily through NBT Bank, which has 155 locations across seven northeastern states, along with EPIC Retirement Plan Services and NBT Insurance Agency.
NBT Bancorp Inc. (NBTB) has received regulatory approval for its proposed merger with Evans Bancorp. The Office of the Comptroller of the Currency approved the merger of Evans Bank into NBT Bank, and NBT received a waiver from the Federal Reserve Bank of New York. Evans shareholders strongly supported the merger, with over 75% of shares represented at a special meeting and over 96% of votes cast in favor.
The all-stock transaction, announced on September 9, 2024, will extend NBT's footprint into the Buffalo and Rochester markets in Western New York. The merger is expected to close in the second quarter of 2025, coinciding with system conversion and subject to customary closing conditions.
Evans Bancorp (EVBN) reported third quarter 2024 net income of $2.9 million, or $0.53 per diluted share. The company announced a definitive agreement to merge with NBT Bancorp during the quarter. Key highlights include: net interest margin of 2.80% (up 9 basis points), total loans growth of $67 million (4%) since year-end 2023, and total deposits increase of $182 million (11%). The quarter included $0.6 million in merger-related expenses offset by a gain from property sale. The NBT merger, valued at approximately $236 million, is expected to close in Q2 2025 with an exchange ratio of 0.91 NBT shares for each Evans share.
NBT Bancorp reported Q3 2024 net income of $38.1 million, or $0.80 per diluted share, compared to $24.6 million ($0.54/share) in Q3 2023. The company achieved record noninterest income of $45.3 million, representing 30.8% of total revenues. Total loans reached $9.91 billion, up $256.3 million from December 31, 2023. Deposits increased to $11.59 billion, up $619.3 million. Net interest margin improved to 3.27%, up 9 basis points from the previous quarter. The company declared a quarterly dividend of $0.34 per share, marking its twelfth consecutive year of dividend increases. NBT also announced plans to merge with Evans Bancorp in Q2 2025.
NBT Bancorp Inc. (NASDAQ: NBTB) has announced its upcoming third quarter 2024 financial results release and conference call schedule. The company will disclose its financial results on Monday, October 28, 2024, after the market closes. A conference call to review these results is scheduled for Tuesday, October 29, 2024, at 10:00 a.m. Eastern time.
Investors and interested parties can access the audio webcast link and presentation slides on NBT's Event Calendar page prior to the call. The call will be archived on the company's website for twelve months, allowing free access during this period.
NBT Bancorp Inc. is a financial holding company based in Norwich, NY, with total assets of $13.50 billion as of June 30, 2024. The company operates primarily through NBT Bank, N.A., which has 154 banking locations across seven states. NBT also owns EPIC Retirement Plan Services and NBT 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.
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