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Mar 31, 2021
NBT Q1 2021 Earnings Report
NBT Bancorp Inc. reported net income of $39.8 million and diluted earnings per share of $0.91 for the first quarter of 2021.
Key Takeaways
NBT Bancorp Inc. reported a strong first quarter with net income of $39.8 million, or $0.91 per diluted common share, driven by commercial loan growth and increased consumer activity. The company's mortgage pipeline is strong, and the indirect auto business exceeded production targets. Sustained levels of excellent credit quality allow for plenty of optionality in the deployment of capital which will drive growth.
Net income was $39.8 million, or $0.91 per diluted common share.
Period end loans were $7.6 billion, up 7% annualized from December 31, 2020.
Net interest income on a fully taxable equivalent basis was $79.4 million.
Tangible equity to assets of 8.00%.