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Jun 30, 2022
NBT Q2 2022 Earnings Report
Reported a decrease in net income compared to the previous year, but an increase compared to the previous quarter, reflecting continued organic loan growth and solid performance by fee-based businesses.
Key Takeaways
NBT Bancorp Inc. reported a net income of $37.8 million, or $0.88 per diluted common share, for the second quarter of 2022. This compares to $40.3 million, or $0.92 per diluted share, in the second quarter of 2021 and $39.1 million, or $0.90 per diluted share in the first quarter of 2022. The company's operating results reflect continued organic loan growth and solid performance by its fee-based businesses. The Board of Directors also approved a 7.1% increase to the quarterly dividend to stockholders.
Net income was $37.8 million.
Diluted earnings per share was $0.88.
Net interest income on a fully taxable equivalent basis was $87.9 million.
Net interest margin on a FTE basis was 3.21%, up 26 bps from the prior quarter.
Revenue by Segment
Forward Guidance
The Company will be subject to the provisions of the Durbin Amendment to the Dodd-Frank Act beginning in the third quarter of 2022, which it estimates will reduce quarterly debit card interchange income by approximately $3.7 million.
Challenges Ahead
- The Company will be subject to the provisions of the Durbin Amendment to the Dodd-Frank Act beginning in the third quarter of 2022.
- Estimated reduction in quarterly debit card interchange income by approximately $3.7 million.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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