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Dec 31, 2023
NBT Q4 2023 Earnings Report
NBT Bancorp reported a decrease in net income and diluted earnings per share for Q4 2023, while strategically growing loans and deposits and completing the acquisition of Salisbury Bancorp.
Key Takeaways
NBT Bancorp Inc. reported a net income of $30.4 million and diluted earnings per share of $0.64 for the three months ended December 31, 2023. The results reflect the company's dedication to improving its banking franchise and diversifying revenue sources, despite market volatility. The company grew loans and deposits, maintained asset quality, improved capital position, and completed the acquisition of Salisbury Bancorp, Inc.
Net income for Q4 2023 was $30.4 million, with diluted earnings per share at $0.64.
Operating diluted earnings per share, a non-GAAP measure, was $0.72 for Q4 2023.
Period end total loans reached $9.65 billion as of December 31, 2023, including $1.18 billion from the Salisbury acquisition.
Deposits totaled $10.97 billion as of December 31, 2023, which includes $1.31 billion acquired from Salisbury.
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CapyFin.com Forward Guidance
The press release does not provide specific forward guidance. It contains forward-looking statements, cautioning readers about various factors that could affect the company's future performance.