Business
NBT Bancorp Inc. Announces Second Quarter 2025 Net Income and Approves an 8.8% Cash Dividend Increase
NORWICH, N.Y., July 28, 2025 (GLOBE NEWSWIRE) -- NBT Bancorp Inc. (“NBT” or the “Company”) (NASDAQ: NBTB) reported net income and diluted earnings per share
About this update from Nbt Bancorp Inc.
[{"type":"text","content":"NORWICH, N.Y., July 28, 2025 (GLOBE NEWSWIRE) -- NBT Bancorp Inc. (“NBT” or the “Company”) (NASDAQ: NBTB) reported net income and diluted earnings per share for the three and six months ended June 30, 2025. Net income for the second quarter of 2025 was $22.5 million, or $0.44 per diluted common share, compared to $32.7 million, or $0.69 per diluted common share, for the second quarter of 2024, and $36.7 million, or $0.77 per diluted common share, for the first quarter of 2025. Operating diluted earnings per share(1), a non-GAAP measure, was $0.88 for the second quarter of 2025, compared to $0.69 for the second quarter of 2024 and $0.80 for the first quarter of 2025. The Company completed the acquisition of Evans Bancorp, Inc. (“Evans”) on May 2, 2025, adding 200 employees and 18 banking locations in Western New York, $1.67 billion in loans and $1.86 billion in deposits. In connection with the transaction, the Company issued 5.1 million shares of common stock, with a value of $221.8 million as of the closing date. The comparisons to the first quarter of 2025 and to the second quarter of 2024 are significantly impacted by the Evans acquisition. CEO Comments “Continued improvement in net interest margin results and the additive impact of our successful merger with Evans Bancorp, Inc. resulted in second quarter operating earnings per share that were 28% above the second quarter of 2024 and 10% higher than the first quarter of this year,” said NBT President and CEO Scott Kingsley. “The detailed plans executed by our integration team resulted in a seamless transition experience, and we are excited that we are now building on the relationships Evans established with customers, employees, communities and shareholders in the Western Region of New York.”“We are also pleased to announce that we have increased our dividend for the thirteenth consecutive year to $0.37 per share in the third quarter,” added Kingsley. “This increase in the quarterly cash dividend of 8.8% affirms our continued commitment to providing favorable long-term returns to our shareholders.”Second Quarter 2025 Financial Highlights Net Income Net income was $22.5 million and diluted earnings per share was $0.44Operating net income was $44.9 million and operating diluted earnings per share of $0.88(1) Net Interest Income / NIM Net interest income on a fully taxable equiva...