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Sep 30, 2023
NBT Q3 2023 Earnings Report
NBT Bancorp Inc. reported a net income of $24.6 million and operating diluted earnings per share of $0.84 for Q3 2023, driven by a diversified business model and the acquisition of Salisbury Bancorp.
Key Takeaways
NBT Bancorp Inc. reported a net income of $24.6 million, or $0.54 per diluted common share, for the third quarter of 2023. The company's operating diluted earnings per share, a non-GAAP measure, was $0.84. The acquisition of Salisbury Bancorp, Inc. was completed on August 11, 2023, adding 13 banking offices, $1.18 billion in loans, and $1.31 billion in deposits.
Net income for the third quarter of 2023 was $24.6 million, or $0.54 per diluted common share.
Operating diluted earnings per share, a non-GAAP measure, was $0.84 for the third quarter of 2023.
The acquisition of Salisbury Bancorp, Inc. was completed on August 11, 2023, adding 13 banking offices, $1.18 billion in loans and $1.31 billion in deposits.
Noninterest income, excluding net securities gains (losses), increased 10.2% from the prior quarter and was approximately 30% of total revenue.