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Mar 31, 2024
NBT Q1 2024 Earnings Report
NBT Bancorp reported solid results for the quarter, driven by growth in fee-based businesses, despite challenges from the interest rate environment.
Key Takeaways
NBT Bancorp Inc. reported a net income of $33.8 million, or $0.71 per diluted common share, for the three months ended March 31, 2024. The company's fee-based businesses grew, contributing 31% of total revenues. Total deposits increased by $226.3 million, and total loans increased by $37.4 million.
Net income was $33.8 million, with diluted earnings per share at $0.71.
Net interest income on a fully taxable equivalent basis was $95.8 million.
Total deposits increased by $226.3 million to $11.20 billion.
Period end total loans were $9.69 billion, an increase of $37.4 million from the previous quarter.
NBT
NBT
NBT Revenue by Segment
Revenue by Segment
Deposit Account Fees Revenue
CapyFin.comRetirement Admin Fees Revenue
CapyFin.comWealth Management Revenue
CapyFin.comInsurance Services Revenue
CapyFin.comBOLI Income Revenue
CapyFin.comOther Income Revenue
CapyFin.com Forward Guidance
No specific forward guidance was provided in the document.