NBT Bancorp Inc - NBTB STOCK NEWS

NBT Bancorp Inc. has announced a second-quarter cash dividend of $0.28 per share, which will be distributed on June 15, 2022, to shareholders who are on record as of June 1, 2022. As of March 31, 2022, the company reported total assets of $12.1 billion. NBT operates primarily through its community bank with 140 locations across several states, and also includes EPIC Retirement Plan Services and NBT Insurance Agency, LLC.

NBT Bank has been recognized on the Forbes World’s Best Banks list, announced on April 13, 2022, as the highest-ranked bank in New York, Connecticut, and Vermont. This accolade places NBT among only 75 banks in the U.S. out of thousands worldwide. The ranking reflects customer satisfaction based on a survey of over 45,000 customers, focusing on factors such as recommendation rate, trust, digital services, and customer support. With assets of $12.1 billion as of March 31, 2022, NBT operates across seven states and is listed on the Nasdaq under the symbol NBTB.

NBT Bank has appointed Ruth Mahoney as the new Regional President for the Capital District and North Country, expanding her role as Executive Vice President of Wealth Management. Meanwhile, David Krupski transitions to Chief of Staff for the Commercial Banking Division, enhancing leadership for lending initiatives. With assets of $12.1 billion as of March 31, 2022, NBT Bank operates across seven states. These leadership changes aim to strengthen local engagement and support strategic growth initiatives.

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.