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Jun 30, 2023
NBT Q2 2023 Earnings Report
NBT Bancorp Inc. reported net income of $30.1 million and diluted earnings per share of $0.70 for the second quarter of 2023.
Key Takeaways
NBT Bancorp Inc. reported a solid operating performance for Q2 2023, with net income reaching $30.1 million, or $0.70 per diluted common share. The company saw loan growth across core portfolios and maintained resilient funding sources, along with consistent credit performance and capital growth. The merger with Salisbury Bancorp is expected to close on August 11, 2023.
Net income was $30.1 million, or $0.70 per diluted common share.
Excluding acquisition expenses and securities losses, diluted earnings per share were $0.80.
Period end total loans of $8.36 billion as of June 30, 2023, up $208.0 million, or 5.1%, annualized, from December 31, 2022.
Deposits were $9.53 billion as of June 30, 2023, up $34.0 million, or 0.4%, from December 31, 2022.
Forward Guidance
NBT Bancorp expects the merger with Salisbury Bancorp to close on August 11, 2023.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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