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Dec 31, 2024
NBT Q4 2024 Earnings Report
NBT Bancorp Inc. reported increased net income and diluted earnings per share for the fourth quarter of 2024, driven by growth in net interest income and strong fee businesses.
Key Takeaways
NBT Bancorp Inc. reported a net income of $36.0 million, or $0.76 per diluted common share, for Q4 2024, compared to $30.4 million, or $0.64 per diluted common share, for Q4 2023. The company's performance was driven by growth in net interest income and margin, as well as strong results from its diverse mix of fee businesses.
Net income was $36.0 million and diluted earnings per share was $0.76.
Net interest income on a fully taxable equivalent (FTE) basis was $106.7 million.
Net interest margin (NIM) on an FTE basis was 3.34%.
Period end total loans of $9.97 billion as of December 31, 2024, up $319.2 million, or 3.3%, from December 31, 2023.
NBT
NBT
NBT Revenue by Segment
Revenue by Segment
Deposit Account Fees Revenue
CapyFin.comCard Services Revenue
CapyFin.comRetirement Admin Fees Revenue
CapyFin.comBOLI Income Revenue
CapyFin.comOther Income Revenue
CapyFin.com Forward Guidance
NBT and Evans anticipate closing the transaction in the second quarter of 2025 in conjunction with the core system conversion, pending customary closing conditions.