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Sep 30, 2022
NBT Q3 2022 Earnings Report
Reported net income of $39.0 million, or $0.90 per diluted common share.
Key Takeaways
NBT Bancorp Inc. reported a strong third quarter with net income of $39.0 million, or $0.90 per diluted common share. The results reflect solid organic loan growth and disciplined cost of funds management, benefiting from an asset-sensitive balance sheet and excellent asset quality.
Net income was $39.0 million.
Diluted earnings per share were $0.90.
Net interest margin increased to 3.51%.
Period end total loans were $7.90 billion, up 9.1% annualized, excluding PPP loans impact.
NBT
NBT
Forward Guidance
The Board of Directors approved a fourth-quarter cash dividend of $0.30 per share, an increase of $0.02, or 7.1%, from the amount paid in the fourth quarter of 2021. 2022 is the tenth consecutive year of dividend increases by the Company. The dividend will be paid on December 15, 2022, to stockholders of record as of December 1, 2022.