Nbt Bancorp Inc. · NASDAQ:NBTB
Nbt Bancorp — Investor Presentation (March 2026)
38 slides from Nbt Bancorp's investor presentation, Mar 31, 2026
Slide 1: Investor Presentation Second Quarter 2026
Investor Presentation Second Quarter 2026 Financial Information as of March 31, 2026
Slide 2: About NBT Bancorp
About NBT Bancorp About NBT Bancorp Strategic Initiatives Financial Performance Appendix 2
Slide 3: Company Profile and Financial Highlights
Company Profile FINANCIAL HIGHLIGHTS ASSETS LOANS 81st Largest Bank Holding Co. $16.2 Billion $11.55 Billion Headquarters Norwich, NY Founded 1856 Ticker NASDAQ: NBTB Market Cap (1) $2.27 Billion NONINTEREST Branches 176 DEPOSITS INCOME TO REVENUE(2) Employees 2,385 $13.74 Billion Institutional Owne
Slide 4: Business Overview
Business Overview RETAIL BANKING • 176 Branches Across 7 States; 228 ATMs (1) • Digital Banking CONSUMER LENDING • Home Lending • Personal Lending • Indirect Auto Lending COMMERCIAL BANKING • C&I and CRE Lending • SBA Lending • Business Banking • Treasury Management • Card and Payment Services FEE B
Slide 5: Key Highlights
Key Highlights High-performing, community bank with STRONG CAPITAL POSITION and traditional bank business model Consistent track record of ORGANIC GROWTH selectively balanced with market and product expanding acquisitions DIVERSE, GRANULAR DEPOSIT BASE with dominant shares in “hometown” markets that
Slide 6: Consistent Strength
Consistent Strength Tangible Equity Ratio • Strong financial performance and capital position with $1.78 9.50% 8.68% 8.58% 8.95% 8.96% 8.30% billion in total capital 8.00% • Highly diversified loan and deposit portfolios, conducting 6.50% business in 7 northeastern states 5.00% • Diverse and granula
Slide 7: Strategic Initiatives
Strategic Initiatives About NBT Bancorp Strategic Initiatives Financial Performance Appendix 7
Slide 8: Our Strategic Initiatives
Our Strategic Initiatives Execute Long-Term Grow and Augment Customer-First Growth Strategy Fee Businesses Digital Mindset • Organic growth across all • Continue to grow • Continuously enhance markets, business lines Retirement Plan experience we deliver to Administration, Wealth customers and emplo
Slide 9: Transformational Investments Underway in Upstate New York
Transformational Investments Underway in Upstate New York New York State has fostered the ideal semiconductor and NBT is well positioned to advanced electronics manufacturing ecosystem1 with: support regional growth • The most advanced, publicly owned semiconductor R&D facility in North America; • T
Slide 10: Disciplined Acquirer & Proven Integrator
Disciplined Acquirer & Proven Integrator We employ a strategic and selective acquisition strategy that focuses high-value partners to enhance our existing franchise. NBTB has completed 14 acquisitions, including 3 banks and 12 fee-based businesses, since 2013. • Completed May 2025 – 8 months from an
Slide 11: Focus on Fee-Based Businesses
Focus on Fee-Based Businesses Q1 2026 Fee Income Composition(1) (%) Key Fee Revenue Verticals Over Time(2) ($ in million) $124 $125 Wealth Management 22.4% Insurance $115 Services $18 $18 9.0% $98 $17 $96 BOLI 5.4% $90 $15 $16 $14 $45 $45 Retirement Plan Other $42 Administration 7.2% 33.3% $33 $35 $
Slide 12: National Benefits Administration Firm
National Benefits Administration Firm Revenues ($ in thousands) 9% 6-YEAR CAGR $62,293 “Helping America Retire” $56,587 Over 375,000 Plan Participants Nationwide $48,112 Customized Consulting, Recordkeeping, Actuarial and Administrative Services for All Types of Retirement Plans $37,180 Deep Partner
Slide 13: Enterprise Technology
Enterprise Technology NBT’s comprehensive Technology Roadmap is a customer and employee-focused plan designed to deliver technology-enabled solutions that enhance experience while fostering profitability and growth. 13 STRATEGIC INITIATIVES
Slide 14: Financial Performance
Financial Performance About NBT Bancorp Strategic Initiatives Financial Performance Appendix 14
Slide 15: Track Record of Consistent Growth
Track Record of Consistent Growth Total Assets Gross Loans ($ in billion) ($ in billion) $11.60 $11.55 $16.00 $16.20 $9.97 $9.65 $13.31 $13.79 $8.15 $12.01 $11.74 $7.50 $7.50 $10.93 $7.14 $9.72 2019 2020 2021 2022 2023 2024 2025 1Q'26 2019 2020 2021 2022 2023 2024 2025 1Q'26 Shareholders Equity Depo
Slide 16: Strong & Stable Profitability
Strong & Stable Profitability Net Interest Income Net Interest Margin FTE ($ in million) (%) $528.7 3.72% $501.5 3.58% 3.59% 3.31% 3.34% $400.1 3.29% $378.2 3.23% $362.2 $311.6 $315.7 $321.1 3.03% 2019 2020 2021 2022 2023 2024 2025 2026 (2) 2019 2020 2021 2022 2023 2024 2025 2026(3) Fee Income(1) Ad
Slide 17: Results Overview Q1 2026
Results Overview ($ in millions except per share data) Q1 2026 Change Q4 2025 Q1 2025 % Change Q4 2025 Q1 2025 Q1 2026 Period End Balance Sheet Total loans $ 11,547.3 $ (50.9) $ 1,567.0 (0.4%) 15.7% Total deposits 13,743.0 243.8 2,034.5 1.8% 17.4% HIGHLIGHTS(1) Income Statement Balance Sheet FTE net
Slide 18: Net Interest Income & Net Interest Margin
Net Interest Income & Net Interest Margin Net Interest Income ($ in millions) & Net Interest Margin (%) HIGHLIGHTS(1) $150.0 4.25% • Net interest income decreased $1.1 million to $134.9 million $125.0 $135.3 $136.0 $134.9 4.00% • Driven by two fewer days in the first quarter of 2026 $124.9 3.75% • L
Slide 19: Noninterest Income
Noninterest Income Noninterest Income Trend(2) ($ in millions) $60.0 HIGHLIGHTS(1) (2) $50.0 $5.1 • $49.7 million in noninterest income $4.2 $4.6 $5.1 $5.3 $6.4 • Noninterest income increased $2.1 $40.0 $5.3 $6.1 $6.2 $6.0 million or 4.5% from Q1 2025 with: $15.9 • Retirement plan administration $30
Slide 20: Noninterest Expense
Noninterest Expense Noninterest Expense Trend(2) ($ in millions) $125.0 HIGHLIGHTS(1) Salaries & Benefits $100.0 • Increased by 4.2% driven by seasonally higher payroll taxes and stock-based compensation expense partially offset by lower medical $66.6 $66.0 $68.8 $75.0 $64.2 $60.7 Other Expenses • O
Slide 21: Capital Strength
Capital Strength Regulatory NBT Regulatory Well Capital Ratios 03/31/2026 Capitalized Level Tier 1 Leverage 9.70% 5.00% Total Risk-Based Capital 14.52% 10.00% Q1 2026 dividend of 13th consecutive year $0.37 per share – of annual dividend 8.8% increase increases in 2025 21 FINANCIAL PERFORMANCE
Slide 22: Loans
Loans HIGHLIGHTS(1) Total Loans • Loans increased $1.57 billion, or 15.7% from March 31, 2025 $11.55 billion • Total commercial loans increased $1.13 billion to $6.45 billion Residential Mortgage • Total consumer loans increased $0.44 billion to $5.09 billion 22% Home Equity • Loan Mix: Commercial 5
Slide 23: Deposits
Deposits Total Deposits HIGHLIGHTS(1) $13.74 billion • Cost of total deposits of 1.34%, down 10 bps • Total cost of funds was 1.42%, down 9 bps • Period end deposits increased $2.03 billion, or 17.4%, Time from March 31, 2025 10% Demand (Noninterest • No and low-cost deposits were 59% of total depos
Slide 24: Commercial Portfolio Detail
Commercial Portfolio Detail Commercial & Industrial ($1.67 billion) Wholesalers 8.0% Manufacturing Construction Trade 8.5% 13.2% Medical 5.9% Real Estate Commercial Loan Portfolio Industry 16.0% General Retailers 3.6% $6.45 billion Agriculture… Automotive Retailers 1.7% Education 2.5% Food Services
Slide 25: Consumer & Residential Portfolio Detail
Consumer & Residential Portfolio Detail Residential Residential Solar Mortgage Consumer Lending Portfolio 14% 50% $5.09 billion Other Consumer 1% Indirect Auto 26% Home Equity 9% Consumer Lending Portfolio Metrics Total Weighted Outstandings # of Average Average Average Category ($000s) Accounts Bal
Slide 26: Asset Quality
Asset Quality Net Charge-Offs Loans Past Due(2) $7,500 0.45% $60,000 0.80% $6,554 $43,941 $44,328 $45,868 $6,000 $43,700 $4,977 $45,000 0.60% $4,765 $4,300 0.30% $4,500 $32,097 0.27% $30,000 0.40% $3,000 $2,361 0.38% 0.38% 0.38% 0.40% 0.15% 0.32% 0.16% 0.17% $15,000 0.20% 0.15% $1,500 0.09% $0 0.00%
Slide 27: Appendix
Appendix About NBT Bancorp Strategic Initiatives Financial Performance Appendix 27
Slide 28: Performance to Peer Group
Performance March 31,2026 Peer Peer to Peer Group Performance Ratios % NBTB Median Average Core ROAE(1)(2) 11.22% 10.67% 10.61% Core ROATCE(1)(2) 15.31% 14.52% 14.85% Net Interest Margin(1) 3.72% 3.61% 3.65% Fee Income / Revenue(3) 27.00% 17.27% 17.49% Loans / Deposits 84.02% 90.98% 90.49% March 31,
Slide 29: Loan Loss Reserve (CECL)
Loan Loss Reserve (CECL) Loan Type 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026 Reserve / Loans Commercial & Industrial 0.76% 0.79% 0.81% 0.76% 0.89% by Segment Commercial Real Estate 1.02% 1.14% 1.13% 1.06% 1.05% Residential Mortgage and Home Equity 1.00% 1.05% 1.05% 1.06% 0.99% Auto 0.72% 0.
Slide 30: NBT Stock Performance
NBT Stock Performance 5 Year 40% 30% 20% April 30, 2026 NBTB, 15% 10% KBW Nasdaq 0% Regional Bank, 8% -10% Peer Average, 5% -20% -30% -40% NBTB KBW Nasdaq Regional Bank Peer Average 30 APPENDIX
Slide 31: NBT Stock Performance Since Evans Announcement
NBT Stock Performance Since Evans Announcement 40% April 30, 2026 30% KBW Nasdaq Regional Bank, 23% 20% Peer Average, 15% 10% NBTB, -6% 0% NBTB’s stock price has lagged peers -10% since the acquisition announcement in -20% September 2024. NBTB KBW Nasdaq Regional Bank Peer Average 31 APPENDIX
Slide 32: Peer Group
Peer Group Name HQ City State Ticker Beacon Financial Corporation Boston MA BBT Camden National Corporation Camden ME CAC CNB Financial Corporation Clearfield PA CCNE Community Financial System, Inc. Syracuse NY CBU ConnectOne Bancorp, Inc. Englewood NJ CNOB Dime Community Bancshares, Inc. Hauppauge
Slide 33: External Recognition
External Recognition • Recognized as a Forbes World’s Best Bank 5 times in 6 years (2019 to 2024) • Named to Forbes America’s Best Banks list for 2025 • Best Bank – Satisfaction with RM for Small Business Banking in the U.S. (Northeast) • Best Bank – Satisfaction in Cash Management for Small Busines
Slide 34: Reconciliation of Non-GAAP Measures
Reconciliation (Dollars in Thousands) Q1 2026 Q4 2025 Q1 2025 of Non-GAAP Net Income $ 51,142 $ 55,509 $ 36,745 Measures Amortization of Intangible Assets (Net of Tax) 2,511 2,522 1,583 Net Income, Excluding Intangibles Amortization $ 53,653 $ 58,031 $ 38,328 Average Tangible Common Equity $ 1,395,3
Slide 35: Reconciliation of Non-GAAP Measures
Reconciliation (Dollars in Thousands) Net Interest Income Q1 2026 $ 134,348 Q4 2025 $ 135,440 Q3 2025 $ 134,663 Q2 2025 $ 124,220 Q1 2025 $ 107,223 of Non-GAAP FTE Adjustment 578 581 594 655 636 Measures Net Interest Income, Tax Equivalent $ 134,926 $ 136,021 $ 135,257 $ 124,875 $ 107,859 Average To
Slide 36: Reconciliation of Non-GAAP Measures
Reconciliation of Non-GAAP Measures (Dollars in Thousands) 2026 - YTD 2025 2024 2023 2022 2021 2020 2019 Net Interest Income $ 134,348 $ 501,546 $ 400,122 $ 378,219 $ 362,190 $ 321,088 $ 315,678 $ 311,555 FTE Adjustment 578 2,466 2,574 2,034 1,304 1,191 1,301 1,667 Net Interest Income, Tax Equivalen
Slide 37: Reconciliation of Non-GAAP Measures
Reconciliation of Non-GAAP (Dollars in Thousands) 2026 – YTD(4) Measures Net Income $ 51,142 Securities (Gains) (Net of Tax)(1) (349) Amortization of Intangibles (Net of Tax)(1) 2,645 Acquisition Expenses (Net of Tax)(1) - Core Net Income(2) $ 53,438 Average Stockholders’ Equity $ 1,905,022 Average
Slide 38: Forward-Looking Statements
Forward-Looking Statements This presentation contains forward-looking statements, as defined in the Private Securities Litigation Reform Act of 1995. These statements may be identified by the use of phrases such as “anticipate,” “believe,” “expect,” “forecasts,” “projects,” “will,” “can,” “would,” “