NBT Bancorp Inc.

NBT Bancorp Inc. reported its third quarter 2024 net income and diluted earnings per share today. "Sequential growth in net interest income and margin for the second consecutive quarter as well as strong performance from our diverse mix of fee businesses drove NBT’s positive operating performance in the third quarter of 2024," said NBT President and Chief Executive Officer Scott A. Kingsley. Read the attached news release for full details.

NBT Bancorp Inc. (“NBT”) (NASDAQ: NBTB) and Evans Bancorp, Inc. (“Evans”) (NYSE American: EVBN) today announced they have entered into a definitive agreement pursuant to which Evans will merge with and into NBT. This merger will bring together two highly respected banking companies and extend NBT’s growing footprint into Western New York.   “We are enthusiastic about this opportunity to partner with Evans and are confident it is a high quality and incredibly impactful way to expand NBT’s presence into Western New York,” said NBT President and Chief Executive Officer Scott A. Kingsley. “Adding the greater Buffalo and Rochester communities to the markets served by NBT is a natural geographic extension of our footprint in Upstate New York where we have been very active and successful for nearly 170 years. We share strong community banking values with Evans and look forward to working with their experienced team to build on the relationships they have established with their customers, communities and shareholders.”   The combined organization will have the highest deposit market share in Upstate New York for any bank with assets under $100 billion and will result in a network of over 170 locations from Buffalo, NY to Portland, ME.   Read the news announcement for more information. 

NBT Bancorp Inc. reported its second quarter 2024 results today and announced an increase in the quarterly cash dividend of 6.3%. “Our operating performance for the second quarter and first half of 2024 continues to reflect the strength of our balance sheet, our diversified business model, and the collaboration of our team,” said NBT President and CEO Scott A. Kingsley. “During the second quarter, we grew loans $166 million across our footprint and improved our net interest margin incrementally. Noninterest income continued to be a core strength, making up 31% of total revenues for the second quarter."   "We are also pleased to announce the Board of Directors approved a third quarter cash dividend of $0.34, an increase in the quarterly cash dividend of 6.3%," added Kingsley. "This is our twelfth consecutive year of annual dividend increases, demonstrating our commitment to providing consistent and favorable long-term returns to our shareholders.”   Read the attached news release for full details.

NBT Bancorp announced that the CEO Succession Plan unanimously approved by NBT’s Board of Directors in January was executed today with Scott A. Kingsley succeeding John H. Watt, Jr. as NBT’s fifteenth President and Chief Executive Officer. Scott was also elected to NBT’s Board of Directors. John will continue to serve on the Board and has been named Vice Chairman. NBT also announced the promotion of Joseph R. Stagliano to President of NBT Bank, N.A., the Company’s wholly-owned banking subsidiary, Annette L. Burns to Executive Vice President and Chief Financial Officer, and Shauna M. Hyle to Executive Vice President, Retail Community Banking. Please join us in congratulating John, Scott, Joe, Annette and Shauna! Read the attached announcement for more details. 

Today, NBT Bancorp Inc. reported its first quarter 2024 results.   “NBT reported solid results for the quarter despite the ongoing challenges presented by the interest rate environment. Our resilient balance sheet is the foundation that allows our team to execute on our growth strategies across our markets. Our fee-based businesses continued to grow, providing diversified revenue streams that generated 31% of total revenues," said NBT President and CEO John H. Watt, Jr.    "NBT is poised to participate in the transformational growth that will occur in our core Upstate NY markets as the result of multiple game-changing investments in semiconductor manufacturing, including the recently announced $6.1 billion grant Micron Technology will receive under the CHIPS & Science Act that will, in part, support its plans to invest as much as $100 billion, over the next ten years, in a new complex of semiconductor chip manufacturing plants near Syracuse.”   Read the attached news release for full details.

On January 23, NBT Bancorp Inc. reported net income and diluted earnings per share for the three and twelve months ended December 31, 2023.   “NBT’s fourth quarter and full year results reflect our consistent dedication to improving our traditional banking franchise while growing our diversified revenue sources,” said NBT President and CEO John H. Watt, Jr. “In a year characterized by unprecedented market volatility, we grew loans and deposits, maintained strong asset quality, improved our capital position, completed the high-value acquisition of Salisbury Bancorp, Inc., and continued to deliver best-in-class customer service.”   The release also notes that the Board of Directors approved a first-quarter cash dividend of $0.32 per share on January 22, 2024, which represents 6.7%, increase over the dividend paid in the first quarter of 2023. The dividend will be paid in March.   Read the attached news release for full details.

NBT Bancorp Inc. announced a CEO succession plan unanimously approved by the Company's Board of Directors today. On May 21, 2024, John H. Watt, Jr. will step down as NBT’s President and Chief Executive Officer and be succeeded by Chief Financial Officer Scott Kingsley as President and Chief Executive Officer of NBT Bancorp. The Company also approved the promotion of Joseph Stagliano to President of NBT Bank, N.A., effective May 21. In addition, Annette Burns, NBT's Chief Accounting Officer, will be promoted and assume the role of CFO on May 21. Read the attached news release for full details.