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Jun 30, 2021
NBT Q2 2021 Earnings Report
NBT Bancorp Inc. reported net income of $40.3 million and diluted earnings per share of $0.92 for the second quarter of 2021.
Key Takeaways
NBT Bancorp Inc. reported a net income of $40.3 million, or $0.92 per diluted common share, for the second quarter of 2021. This represents an increase of $15.6 million compared to the second quarter of 2020, primarily driven by the impact of the COVID-19 pandemic on expected credit losses in 2020. The company's board also approved a 3.7% increase in the quarterly dividend, raising it to $0.28 per share.
Net income for the quarter was $40.3 million, or $0.92 per diluted common share.
Net interest income on a fully taxable equivalent basis was $79.5 million.
Period end loans were $7.5 billion, up 1% annualized from December 31, 2020.
The Board of Directors approved a third-quarter cash dividend of $0.28 per share, a 3.7% increase.
NBT
NBT
Forward Guidance
The company did not provide specific forward guidance in the earnings report.