Nbt Bancorp Inc. · NASDAQ:NBTB

Nbt Bancorp — Q1 2023 Earnings Presentation

21 slides from Nbt Bancorp's earnings presentation, Apr 25, 2023

  1. Slide 1: NBT Bancorp Inc. Q1 2023 Earnings Presentation

    NBT Bancorp Inc. Q1 2023 Earnings Presentation

  2. Slide 2: 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,” “

  3. Slide 3: Q1 2023 Highlights

    Q1 2023 Highlights EARNINGS  Net income of $33.7 million, or diluted earnings per share of $0.78 ($0.88 excluding acquisition expenses and securities losses)  Net interest income down 4.7% from Q4 2022 and up 18.3% from Q1 2022  Return on average tangible common equity1 2 of 15.31% for Q1 2023, d

  4. Slide 4: Q1 2023 Results Overview

    Q1 2023 Results Overview Financial Highlights Change % Change ($ in millions except per share data) Q1 2023 Q4 2022 Q1 2022 Q4 2022 Q1 2022 Quarterly Highlights1 Period End Balance Sheet Total loans $ 8,264.6 $ 114.4 $ 614.8 1.4% 8.0% Balance Sheet Total deposits 9,681.2 185.3 (780.4) 2.0% (7.5%) 

  5. Slide 5: Loans

    Loans Total Loans: $8.26 billion1 Home Equity Residential Solar 4% 11% Quarterly Highlights2 Indirect Auto 13%  Loans up $114.4 million from Q4 2022, Residential Real Estate 20% or 1.4% (5.7% annualized) Other Consumer 3%  Total commercial loans increased $50.0 million to $4.12 billion  Total con

  6. Slide 6: Deposits

    Deposits Total Deposits: $9.68 billion1 Quarterly Highlights2 Time  Cost of total deposits of 0.47%, 8% up 30 bps from the prior quarter  Total cost of funds was 0.75%, Demand up 38 bps from prior quarter (Noninterest Bearing)  Month of March 2023: 35%  0.62% total cost of deposits  0.88% total

  7. Slide 7: Net Interest Income & Net Interest Margin

    Net Interest Income & Net Interest Margin Net Interest Income ($ in millions) & Net Interest Margin (%) $105.0 4.00% Quarterly Highlights1 $100.2 $95.0 $95.5 3.75%  Net interest margin decreased $94.8 13 bps to 3.55%, primarily due 3.68% $85.0 $87.9 3.50% to higher funding costs offsetting the 3.55

  8. Slide 8: Noninterest Income

    Noninterest Income $45.0 $3.7 $3.8 $40.0 $35.0 $3.6 $8.7 $3.5 $9.8 $3.6 $5.7 $4.8 $30.0 $5.0 Noninterest $25.0 $13.3 $12.7 Income $11.5 $10.7 $11.5 $20.0 Trend1 ($ in millions) $15.0 $8.6 $8.4 $8.1 $8.3 $8.0 $10.0 $3.8 $3.6 $3.9 $3.9 $5.0 $3.4 $4.7 $4.2 $4.3 $3.6 $4.5 $0.0 Q1 2022 Q2 2022 Q3 2022 Q4

  9. Slide 9: Noninterest Expense

    Noninterest Expense Noninterest Expense Trend1 Quarterly Highlights2 ($ in millions)  Noninterest expense of $79.3 million, down $0.2 million (0.2%) $80.0  Salaries & benefits increase of 1.9% $70.0 driven by seasonally higher payroll taxes, seasonally higher stock-based compensation expense and m

  10. Slide 10: Asset Quality

    Asset Quality Net Charge-Offs Nonperforming Loans1 $4,100 $3,811 0.50% $45,000 0.90% $3,677 $3,075 $35,000 0.70% $2,596 $27,756 $25,769 $2,050 0.25% $25,000 $21,830 0.50% $21,056 $1,284 $18,612 $790 0.18% 0.19% $1,025 $15,000 0.36% 0.30% 0.14% 0.33% 0.28% 0.26% 0.04% 0.07% 0.23% $0 0.00% $5,000 0.10

  11. Slide 11: Appendix

    APPENDIX 11

  12. Slide 12: First Quarter Trends

    First Quarter Trends ($ in thousands except per share data) Q1 2023 Q1 2022 Q1 2021 Q1 2020 Q1 2019 Income Statement 1 Loan interest income, excluding PPP income $ 100,890 $ 71,367 $ 68,922 $ 78,728 $ 79,321 1 PPP interest income and fees 9 1,976 6,171 - - Securities 12,651 10,333 8,926 9,844 11,139

  13. Slide 13: Loan Loss Reserve (CECL)

    Loan Loss Reserve (CECL) Reserve / Loans by Segment Loan Type 1/1/2020 3/31/2022 6/30/2022 9/30/2022 12/31/2022 3/31/2023 Commercial & Industrial 0.98% 0.64% 0.74% 0.80% 0.82% 0.85% Commercial Real Estate 0.74% 0.79% 0.89% 0.88% 0.91% 0.93% Residential Real Estate 0.83% 0.88% 0.79% 0.74% 0.72% 0.73%

  14. Slide 14: Commercial Loan Portfolio Detail

    Commercial Loan Portfolio Detail Owner Occupied CRE ($0.58 billion)1 Commercial & Industrial ($1.28 billion)1 All Other Rental Real Wholesalers Industries Estate Construction 6.8% Manufacturing 15.4% 9.4% Construction Trade 10.4% Trade 10.7% 6.5% Medical 6.9% Restaurants Accommodations 5.7% 1.2% Who

  15. Slide 15: Consumer & Residential Portfolio Detail

    Consumer & Residential Portfolio Detail Other Consumer 6% Home Equity 7% Residential Real Consumer Estate 40% Lending Residential Solar 22% Portfolio: $4.14 billion as of 3/31/23 Indirect Auto 25% As of 3/31/2023 Consumer Lending Portfolio Metrics Total Outstandings # of Avg. wAve Category ($000s) A

  16. Slide 16: Interest Rate Risk & Liquidity Sources

    Interest Rate Risk & Liquidity Sources Interest Rate Risk Position1 Total Deposits (A) $9,681,205  Loan portfolio: 65% Fixed / 35% Adjustable/Floating  Commercial Back-to-Back Swap Program Maturity Schedule: Estimated Uninsured Deposits 3,685,202 Commercial Back to Back Swap Program Estimated Coll

  17. Slide 17: Investment Securities Portfolio

    Investment Securities Portfolio March 31, 2023 December 31, 2022 AFS Securities Amortized Net Unrealized Estimated Amortized Net Unrealized Estimated (In thousands) Cost (Losses)/Gains Fair Value Cost (Losses)/Gains Fair Value U.S. treasury & Federal agency $ 381,288 $ (47,489) $ 333,799 $ 381,310 $

  18. Slide 18: External Recognition

    External Recognition Highest Ranked Bank in NY 18

  19. Slide 19: Reconciliation of Non-GAAP Measures

    Reconciliation of Non-GAAP Measures (Dollars in Thousands, Except Per Share Data) Q1 2023 Q4 2022 Q1 2022 Net Income $ 33,658 $ 36,121 $ 39,126 Amortization of Intangible Assets (Net of Tax) 402 404 477 Net Income, Excluding Intangibles Amortization $ 34,060 $ 36,525 $ 39,603 Average Tangible Common

  20. Slide 20: Reconciliation of Non-GAAP Measures

    Reconciliation of Non-GAAP Measures (Dollars in Thousands) Q1 2023 Q1 2022 Q1 2021 Q1 2020 Q1 2019 Net Interest Income $ 95,066 $ 80,348 $ 79,055 $ 77,181 $ 77,691 FTE Adjustment 395 285 302 329 500 Net Interest Income, Tax Equivalent $ 95,461 $ 80,633 $ 79,357 $ 77,510 $ 78,191 Average Total Intere

  21. Slide 21: Peer Group

    Peer Group Name HQ City State Ticker Berkshire Hills Bancorp, Inc. Boston MA BHLB Brookline Bancorp, Inc. Boston MA BRKL Community Bank System, Inc. Dewitt NY CBU Customers Bancorp, Inc. West Reading PA CUBI First Busey Corporation Champaign IL BUSE First Commonwealth Financial Corporation Indiana P

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