NBT BANCORP INC

Listed Company

NBTBCIK 0000790359NasdaqLarge AcceleratedNational Commercial BanksDelawareFY ends Dec 31

Period

FY 2025

Revenue

—

Net Income

$169.24M

Total Assets

$16.00B

Equity

$1.90B

Shares Out

52.20M

Op. Cash Flow

$235.22M

Business

NBT Bancorp Inc. is a financial holding company that provides community-oriented commercial and retail banking and wealth management primarily through NBT Bank. It offers deposit accounts, consumer and commercial loans, mortgages and home equity products, trust, investment and insurance services and retirement plan administration via EPIC. Its reportable segments are Banking and Retirement Plan Administration, supported by subsidiaries including NBT Financial, NBT Holdings, multiple statutory trusts and operating subsidiaries. The Company serves customers across upstate New York, northeastern Pennsylvania, New England (including New Hampshire, Vermont and Maine), western Massachusetts and Connecticut via branch networks and digital channels.

Summary from filing dated 2025-02-28

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Interest and fees on loans	632	553	463	333	302
Securities available for sale	47	31	30	30	23
Securities held to maturity	19	20	21	18	13
Other	13	7	10	4	2
Total interest, fee and dividend income	711	612	523	384	340
Deposits	192	187	105	10	11
Short-term borrowings	4	9	26	3	158,000
Long-term debt	1	1	925,000	161,000	389,000
Subordinated debt	5	7	6	5	5
Junior subordinated debt	7	8	7	4	2
Total interest expense	209	212	145	22	—
Net interest income	502	400	378	362	321
Provision for loan losses	32	20	25	17	−8
Net interest income after provision for loan losses	469	381	353	345	329
Service charges on deposit accounts	19	17	15	15	13
Card services income	24	22	21	29	35
Retirement plan administration fees	62	57	47	48	42
Wealth management	45	42	35	33	34
Insurance services	18	17	16	15	14
Bank owned life insurance income	12	8	7	6	6
Net securities gains (losses)	148,000	3	−9	−1	566,000
Other	16	11	11	11	13
Total noninterest income	195	177	142	156	158
Salaries and employee benefits	257	232	194	188	173
Technology and data services	44	39	38	36	35
Occupancy	36	31	28	26	26
Professional fees and outside services	22	19	18	17	16
Office supplies and postage	8	8	7	6	6
FDIC assessment	8	7	6	3	3
Marketing	4	3	3	—	—
Amortization of intangible assets	12	8	5	2	3
Loan collection and other real estate owned, net	3	3	3	3	3
Acquisition expenses	20	2	10	967,000	0
Other	32	26	30	20	20
Total noninterest expense	445	378	342	304	287
Income before income tax expense	219	180	154	196	200
Income tax expense	50	39	35	44	45
Net income	169	141	119	152	155
Basic (in dollars per share)	3.34	2.98	2.67	3.54	3.57
Diluted (in dollars per share)	3.33	2.97	2.65	3.52	3.54

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and due from banks	185	205	174	166	158
Short-term interest-bearing accounts	302	79	31	31	1,111
Equity securities, at fair value	49	42	38	—	—
Securities available for sale, at fair value	1,863	1,575	1,431	1,527	1,687
Securities held to maturity (fair value $702,577 and $749,945, respectively)	763	843	905	920	733
Federal Reserve and Federal Home Loan Bank stock	45	34	46	45	25
Loans held for sale	1	10	3	562,000	800,000
Loans	11,598	9,970	9,651	8,150	7,498
Less allowance for loan losses	138	116	114	101	92
Net loans	11,460	9,854	9,536	8,049	7,406
Premises and equipment, net	99	81	81	69	72
Goodwill	453	363	362	281	281
Intangible assets, net	58	36	40	7	9
Bank owned life insurance	318	273	266	232	228
Other assets	400	393	396	380	267
Total assets	15,995	13,787	13,309	11,739	12,012
Demand (noninterest bearing)	3,800	3,446	3,414	3,617	3,690
Savings, interest-bearing checking and money market	8,207	6,658	—	—	—
Time	1,492	1,443	1,325	434	501
Total deposits	13,499	11,547	10,969	9,496	10,234
Short-term borrowings	148	163	387	585	98
Long-term debt	43	30	30	5	14
Subordinated debt, net	25	121	120	97	98
Junior subordinated debt	112	101	101	101	101
Other liabilities	272	299	277	282	216
Total liabilities	14,099	12,261	11,883	10,566	10,762
Preferred stock, $0.01 par value, 2,500,000 shares authorized	0	0	0	0	0
Common stock, $0.01 par value, 100,000,000 shares authorized; 59,083,155 and 53,974,492 shares issued, respectively	591,000	540,000	540,000	497,000	497,000
Additional paid-in-capital	965	743	741	578	577
Retained earnings	1,197	1,100	1,022	958	856
Accumulated other comprehensive loss	−83	−142	−161	−190	−23
Common stock in treasury, at cost, 6,880,200 and 6,779,975 shares, respectively	−183	−175	−177	−173	−160
Total stockholders' equity	1,896	1,526	1,426	1,174	1,250
Total liabilities and stockholders' equity	15,995	13,787	13,309	11,739	12,012

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation and amortization of premises and equipment	13	12	11	10	10
Net amortization on securities	1	3	3	3	6
Amortization of operating lease right-of-use assets	9	8	7	7	7
Excess tax benefit on stock-based compensation	−674,000	−295,000	−296,000	−288,000	−385,000
Stock-based compensation expense	5	6	5	5	4
Amortization of subordinated debt issuance costs	199,000	437,000	437,000	437,000	438,000
Proceeds from sale of loans held for sale	219	154	54	6	55
Originations of loans held for sale	−211	−160	−56	−5	−55
Net gain on sale of loans held for sale	−637,000	−202,000	−156,000	−122,000	−361,000
Net gains on sale of other real estate owned	−64,000	−1,000	−69,000	−259,000	182,000
Impairment of a minority interest equity investment	0	0	5	0	0
Net deferred income tax expense (benefit)	24	9	6	−20	864,000
Net change in other assets and other liabilities	−25	748,000	−28	12	−12
Net cash provided by operating activities	235	189	157	183	159
Net cash provided by (used in) acquisitions	38	−1	45	−3	−2
Proceeds from maturities, calls and principal paydowns	256	168	116	214	395
Proceeds from sales	254	2	125	0	0
Purchases	−475	−293	0	−265	−776
Proceeds from maturities, calls and principal paydowns	174	144	101	178	182
Purchases	−92	−83	−88	−365	−299
Proceeds from sales	491,000	0	0	—	—
Purchases	0	−18,000	−11,000	—	—
Net decrease (increase) in loans	17	−338	−338	−660	−9
Proceeds from Federal Home Loan Bank stock redemption	30	75	92	36	2
Purchases of Federal Reserve Bank and Federal Home Loan Bank stock	−31	−63	−91	−56	−167,000
Proceeds from settlement of bank owned life insurance	11	1	4	2	4
Purchases of premises and equipment, net	−16	−12	−9	−7	−8
Proceeds from sales of other real estate owned	348,000	75,000	268,000	426,000	1
Net cash provided by (used in) investing activities	169	−399	−44	−926	−548
Net increase in deposits	88	578	164	−739	1,153
Net decrease in short-term borrowings	−58	−224	−232	487	−71
Redemption of subordinated debt	−118	0	0	−2	0
Proceeds from long-term debt	0	0	25	2	0
Repayments of long-term debt	−27	−152,000	−118,000	−11	−25
Proceeds from the issuance of shares to employee and other stock plans	117,000	61,000	91,000	0	112,000
Cash paid by employer for tax-withholding on stock issuance	−4	−2	−2	−2	−3
Purchase of treasury stock	−10	−251,000	−5	−15	−22
Cash dividends	−73	−62	−56	−50	−48
Net cash (used in) provided by financing activities	−201	289	−105	−329	985
Net (decrease) increase in cash and cash equivalents	203	79	8	−1,072	596
Interest expense	216	215	130	21	20
Income taxes paid, net of refund	25	23	28	63	46
Loans transferred to other real estate owned	504,000	256,000	94,000	105,000	181,000
Fair value of assets acquired, excluding acquired cash and goodwill	2,088	4	1,416	705,000	0
Fair value of liabilities assumed	1,997	0	1,380	0	0
Common stock issued	222	0	162	0	0

Filings

Filing historySign up free to browse every 10-K, 10-Q, 8-K, and proxy this filer has submitted to the SEC.Sign up free · Upgrade to Pro

Material Events

Material EventsTrack every 8-K filing and material event — AI-summarized, timelined, and alertable.Sign up free · Upgrade to Pro

Insiders

Insider ActivitySee executive buy/sell windows and insider trade activity over rolling 30/90/365-day windows.Sign up free · Upgrade to Pro

Institutional Holders

Institutional HoldersSee which funds hold this stock and track position changes quarter over quarter.Sign up free · Upgrade to Pro