{"id":900767,"date":"2025-10-27T16:36:33","date_gmt":"2025-10-27T20:36:33","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/nbt-bancorp-inc-announces-record-third-quarter-2025-results-and-declares-cash-dividend\/"},"modified":"2025-10-27T16:36:33","modified_gmt":"2025-10-27T20:36:33","slug":"nbt-bancorp-inc-announces-record-third-quarter-2025-results-and-declares-cash-dividend","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/nbt-bancorp-inc-announces-record-third-quarter-2025-results-and-declares-cash-dividend\/","title":{"rendered":"NBT Bancorp Inc. Announces Record Third Quarter 2025 Results and Declares Cash Dividend"},"content":{"rendered":"
\n

NORWICH, N.Y., Oct. 27, 2025 (GLOBE NEWSWIRE) — NBT Bancorp Inc. (\u201cNBT\u201d or the \u201cCompany\u201d) (NASDAQ: NBTB) reported net income and diluted earnings per share for the three and nine months ended September 30, 2025.<\/p>\n

Net income for the third quarter of 2025 was $54.5 million, or $1.03 per diluted common share, compared to $38.1 million, or $0.80 per diluted common share, for the third quarter of 2024, and $22.5 million, or $0.44 per diluted common share, for the second quarter of 2025. Operating diluted earnings per share(1)<\/sup>, a non-GAAP measure, was $1.05 for the third quarter of 2025, compared to $0.80 for the third quarter of 2024 and $0.88 for the second quarter of 2025.<\/p>\n

The Company completed the acquisition of Evans Bancorp, Inc. (\u201cEvans\u201d) on May 2, 2025, adding 200 employees and 18 banking locations in Western New York, $1.67 billion in loans and $1.86 billion in deposits. In connection with the transaction, the Company issued 5.1 million shares of common stock, with a value of $221.8 million as of the closing date. The comparisons to the second quarter of 2025 and to the third quarter of 2024 are significantly impacted by the Evans acquisition.\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0<\/p>\n

\n CEO Comments<\/strong>\n <\/p>\n

\u201cFor the third quarter of 2025, we achieved record net income and earnings per share, and we reported a return on average assets of 1.35% and a return on average tangible common equity of 17.35%,\u201d said NBT President and CEO Scott Kingsley. \u201cThese results reflect productive growth in earning assets, deposits, and our sixth consecutive quarter of net interest margin improvement, including a full quarter of our merger with Evans Bancorp, Inc. completed in May. Having increased our dividend for the thirteenth consecutive year, we approved a quarterly cash dividend for our shareholders of $0.37 per share, representing an increase of 8.8% over the prior year and illustrative of our ongoing commitment to providing favorable long-term returns.\u201d<\/p>\n

Third Quarter 2025 Financial Highlights<\/strong><\/p>\n\n\n\n\n\n\n\n
Net Income<\/td>\n\n
    \n
  • Net income was $54.5 million and diluted earnings per share was $1.03<\/li>\n
  • Operating net income was $55.3 million and operating diluted earnings per share was $1.05(1)<\/sup><\/li>\n<\/ul>\n<\/td>\n<\/tr>\n
Net Interest Income \/ NIM<\/td>\n\n
    \n
  • Net interest income on a fully taxable equivalent (\u201cFTE\u201d) basis was $135.3 million, an increase of $10.4 million from the prior quarter(1)<\/sup><\/li>\n
  • Net interest margin (\u201cNIM\u201d) on an FTE basis was 3.66%(1)<\/sup>, an increase of 7 basis points (\u201cbps\u201d) from the prior quarter<\/li>\n
  • Earning asset yields of 5.18% were up 6 bps from the prior quarter<\/li>\n
  • Total cost of funds of 1.60% was down 2 bps from the prior quarter<\/li>\n
  • Included in FTE net interest income was $6.3 million of acquisition-related net accretion, which was up $1.3 million from the second quarter of 2025<\/li>\n<\/ul>\n<\/td>\n<\/tr>\n
Noninterest Income<\/td>\n\n
    \n
  • Noninterest income was $51.4 million, or 28% of total revenues, excluding net securities (losses) gains<\/li>\n<\/ul>\n<\/td>\n<\/tr>\n
Loans and Credit Quality<\/td>\n\n
    \n
  • Period end total loans were $11.60 billion as of September 30, 2025, including $1.67 billion of loans acquired from Evans<\/li>\n
  • Net charge-offs to average loans was 0.15% annualized<\/li>\n
  • Nonperforming loans to total loans was 0.46%<\/li>\n
  • Allowance for loan losses to total loans was 1.20%<\/li>\n
  • Provision for loan losses was $3.1 million<\/li>\n<\/ul>\n<\/td>\n<\/tr>\n
Deposits<\/td>\n\n
    \n
  • Deposits were $13.66 billion as of September 30, 2025, including $1.86 billion in deposits acquired from Evans<\/li>\n
  • Total cost of deposits was 1.52% for the third quarter of 2025, up 1 bp from the second quarter of 2025<\/li>\n<\/ul>\n<\/td>\n<\/tr>\n
Capital<\/td>\n\n