Nbt Bancorp Inc. · NASDAQ:NBTB
Nbt Bancorp — Q4 2024 Earnings Presentation
20 slides from Nbt Bancorp's earnings presentation, Jan 28, 2025
Slide 1: Earnings Presentation Fourth Quarter 2024
Earnings Presentation Fourth Quarter 2024 NBTB
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,” “
Slide 3: Q4 2024 Results Highlights
Q4 2024 Results Highlights $0.76 Earnings per share • Well Positioned Balance Sheet • Diversified portfolios with desirable balances of commercial and consumer loans and deposits • Year-to-date loan growth of $319.2 million, or 3.3% (5.6% excluding consumer portfolios in planned run-off status) 13.3
Slide 4: Results Overview Q4 2024
Results Overview Change % Change Q4 2024 ($ in millions except per share data) Q4 2024 Q3 2024 Q4 2023 Q3 2024 Q4 2023 Period End Balance Sheet Total loans $ 9,969.9 $ 62.9 $ 319.2 0.6% 3.3% Total deposits 11,546.8 (41.5) 577.8 (0.4%) 5.3% HIGHLIGHTS(1) Income Statement (2) FTE net interest income $
Slide 5: Loans $9.97 billion
Loans HIGHLIGHTS(1) Total Loans • Loans increased $319.2 million from December 31, 2023 $9.97 billion • Total commercial loans increased $322.0 million to $5.30 billion • Total consumer loans decreased $2.8 million to $4.67 billion Home Equity Residential Solar 3% 8% • Loan Mix: Commercial 53% / Con
Slide 6: Deposits $11.55 billion
Deposits Total Deposits $11.55 billion Time 12% Demand (Noninterest Bearing) 30% HIGHLIGHTS(1) Money Market • Cost of total deposits of 1.60%, down 12 bps 30% • Total cost of funds was 1.71%, down 14 bps Savings and NOW • Period end deposits increased $577.8 million, or 5.3%, 28% from December 31, 2
Slide 7: Net Interest Income & Net Interest Margin
Net Interest Income & Net Interest Margin Net Interest Income ($ in millions) & Net Interest Margin (%) HIGHLIGHTS(1) $110.0 4.00% $106.7 • Net interest income increased $4.4 million to $106.7 million $100.0 $99.8 $102.3 3.75% • Net interest margin increased 7 bps to 3.34% $97.8 $90.0 $95.8 3.50% •
Slide 8: Noninterest Income
Noninterest Income Noninterest Income Trend(2) ($ in millions) $50.0 HIGHLIGHTS(1) $4.3 $4.1 $4.2 $40.0 $4.4 • Noninterest income to total $4.2 $5.2 $5.6 $5.9 $5.7 revenue was 28%(1) $5.4 (above peer levels) $30.0 $14.6 $14.3 • $42.2 million(1) in noninterest $14.8 $12.9 $11.2 income $20.0 • Noninte
Slide 9: Noninterest Expense
Noninterest Expense Noninterest Expense Trend(2) ($ in millions) $125.0 HIGHLIGHTS(1) Salaries & Benefits $100.0 • Increased by 3.5% driven by an increase in other benefits, including medical costs and higher levels of incentive compensation $75.0 $61.7 $55.7 $59.6 Other Expenses $50.0 $55.4 • Other
Slide 10: Asset Quality
Asset Quality Net Charge-Offs Provision for Loan Losses $7,500 0.45% $15,000 $6,000 $5,709 $12,000 $5,327 $4,679 0.30% $8,899 $4,500 $3,920 $9,000 $3,699 0.23% $5,126 $5,579 $3,000 0.22% $6,000 0.19% 0.15% 0.15% 0.16% $2,920 $1,500 $3,000 $2,209 $0 0.00% $0 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q4
Slide 11: Appendix
Appendix APPENDIX 11
Slide 12: Loan Loss Reserve (CECL)
Loan Loss Reserve (CECL) Loan Type 1/1/2020 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 Reserve / Loans Commercial & Industrial 0.98% 0.84% 0.79% 0.76% 0.73% 0.73% by Segment Commercial Real Estate 0.74% 0.99% 0.97% 1.00% 1.01% 0.95% Residential Real Estate 0.83% 0.84% 0.89% 0.98% 1.00% 1.00
Slide 13: Commercial Portfolio Detail $5.30 billion
Commercial Portfolio Detail Commercial & Industrial ($1.43 billion) Wholesalers 7.1% Manufacturing Construction Trade 9.7% 11.1% Medical 6.3% Commercial Loan Portfolio Real Estate General Retailers Industry 3.8% $5.30 billion 16.1% Agriculture 6.8% Automotive Retailers 1.8% Education 4.3% Food Servi
Slide 14: Consumer & Residential Portfolio Detail $4.67 billion
Consumer & Residential Portfolio Detail Home Equity 7% Residential Solar 18% Consumer Lending Portfolio $4.67 billion Other Consumer 2% Residential Real Estate 46% Indirect Auto 27% Consumer Lending Portfolio Metrics Total Weighted Outstandings # of Average Average Average Category ($000s) Accounts
Slide 15: Investment Securities Portfolio
Investment Securities Portfolio December 31, 2024 December 31, 2023 Amortized Net Unrealized Estimated Amortized Net Unrealized Estimated AFS Securities (In thousands) Cost (Losses)/Gains Fair Value Cost (Losses)/Gains Fair Value U.S. treasury & federal agency $ 357,186 $ (35,879) $ 321,307 $ 381,68
Slide 16: Transformational Investments Underway: Upstate NY Semiconductor Chip Corridor
Transformational Investments Underway: Upstate NY Semiconductor Chip Corridor New York State has fostered the ideal semiconductor and advanced electronics manufacturing ecosystem1 with: ✓ The most advanced, publicly owned semiconductor R&D facility in North America ✓ The nation’s largest public univ
Slide 17: External Recognition
External Recognition In the J.D. Power 2024 U.S. Retail Banking Satisfaction Study, NBT Bank ranked #2 in the NY Tri-State Region, which includes New York, Connecticut and New Jersey. 17 APPENDIX
Slide 18: Reconciliation of Non-GAAP Measures
Reconciliation (Dollars in Thousands, Except Per Share Data) Q4 2024 Q3 2024 Q4 2023 of Non-GAAP Net Income $ 36,005 $ 38,097 $ 30,446 Amortization of Intangible Assets (Net of Tax) 1,560 1,547 1,599 Measures Net Income, Excluding Intangibles Amortization $ 37,565 $ 39,644 $ 32,045 Average Tangible
Slide 19: Reconciliation of Non-GAAP Measures
Reconciliation (Dollars in Thousands) Q4 2024 Q3 2024 Q2 2024 Q1 2024 Q4 2023 of Non-GAAP Net Interest Income $ 106,105 $ 101,669 $ 97,174 $ 95,174 $ 99,173 FTE Adjustment 619 639 658 658 669 Measures Net Interest Income, Tax Equivalent $ 106,724 $ 102,308 $ 97,832 $ 95,832 $ 99,842 Average Total In
Slide 20: Peer Group
Peer Group Name HQ City State Ticker Berkshire Hills Bancorp, Inc. Boston MA BHLB Brookline Bancorp, Inc. Boston MA BRKL Community Financial System, Inc. Dewitt NY CBU Dime Community Bancshares, Inc. Hauppauge NY DCOM Eastern Bankshares, Inc. Boston MA EBC First Busey Corporation Champaign IL BUSE F