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Sep 30, 2020
NBT Q3 2020 Earnings Report
NBT Bancorp Inc. reported a net income of $35.1 million and diluted earnings per share of $0.80 for the third quarter of 2020.
Key Takeaways
NBT Bancorp Inc. reported a net income of $35.1 million, or $0.80 per diluted common share for the three months ended September 30, 2020. Net income increased by $10.4 million from the previous quarter, driven by lower loan loss provision, and up $2.7 million from the third quarter of 2019. The continued strength of NBT's pre-provision net revenue is reflected in these results, with strong fee-based income and focused expense management as key contributors.
Net income of $35.1 million.
Diluted earnings per share of $0.80.
Net interest income on a fully taxable equivalent basis was $78.3 million.
Net interest margin on a fully taxable equivalent basis was 3.17%.