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NBT Q1 2025 Earnings Report
NBT Bancorp Inc. reported net income and diluted earnings per share for the three months ended March 31, 2025.
Key Takeaways
NBT Bancorp Inc. reported net income of $36.7 million and diluted earnings per share of $0.77 for the first quarter of 2025. This represents an increase from $33.8 million and $0.71, respectively, in the first quarter of 2024. The company also saw growth in both net interest income and noninterest income compared to the prior quarter and the first quarter of 2024.
Net income for Q1 2025 was $36.7 million, up from $33.8 million in Q1 2024.
Diluted earnings per share for Q1 2025 was $0.77, an increase from $0.71 in Q1 2024.
Net interest income increased by $1.1 million from the prior quarter and $12.0 million from Q1 2024.
Noninterest income, excluding securities gains (losses), increased by 12.7% from the prior quarter and 10.1% from Q1 2024.
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
NBT Bancorp Inc. anticipates completing its merger with Evans Bancorp, Inc. in early May 2025, which is expected to strengthen its presence in key markets and contribute to strategic growth.
Positive Outlook
- Anticipated completion of the merger with Evans Bancorp, Inc. on May 2, 2025.
- Addition of over 200 experienced bankers and 18 locations from Evans Bancorp, Inc.
- Firm establishment of NBT's presence in Buffalo and Rochester, Upstate New York's two largest markets by population.
- Strategic growth initiatives are being executed.
- Capital position remains a key strength.
Challenges Ahead
- Potential inability to achieve expected synergies and operating efficiencies from the merger within expected timeframes or at all.
- Challenges in successfully integrating Evans operations with NBT's existing operations.
- Risks associated with local, regional, national, and international economic conditions impacting the company and its customers.
- Potential changes in the level of nonperforming assets and charge-offs.
- Impact of changes in trade and monetary and fiscal policies and laws, including interest rate policies of the Federal Reserve Board.