Nbt Bancorp Inc. · NASDAQ:NBTB
Nbt Bancorp — Q3 2021 Earnings Presentation
21 slides from Nbt Bancorp's earnings presentation, 2021
Slide 1: NBT Bancorp Inc. Q3 2021 Earnings Presentation
NBT Bancorp Inc. Q3 2021 Earnings Presentation
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: Q3 2021 Highlights
Q3 2021 Highlights EARNINGS Net income of $37.4 million, or diluted earnings per share of $0.86, up 6 cents from prior year Provision for loan losses decreased $6.6 million from prior year reflective of improving economic conditions Noninterest income up 6.9% from prior year and up 2.6% from t
Slide 4: Q3 2021 Results Overview
Q3 2021 Results Overview Financial Highlights Change % Change Quarterly Highlights1 ($ in millions except per share data) Q3 2021 Q2 2021 Q3 2020 Q2 2021 Q3 2020 Period End Balance Sheet Balance Sheet Total loans $ 7,566.4 $ 48.8 $ 5.8 0.6% 0.1% Total loans, excluding PPP 7,290.2 132.4 244.2 1.8% 3.
Slide 5: Loans
Loans Total Loans: $7.6 billion1 Quarterly Highlights Indirect Auto Specialty Lending Loans, excluding PPP, were up $132 million from 12% 9% Q2 2021, or 1.8% Home Equity 4% Residential Real Total commercial loans, excluding PPP loans, Estate 20% Other Consumer increased $42 million 1% Total co
Slide 6: Deposits
Deposits Total Deposits: $10.2 billion1 Quarterly Highlights2 Cost of total deposits of 0.10% down 2 bps Time 5% Cost of interest-bearing deposits was Demand 0.16%, down 2 bps or 11% (noninterest bearing) Period end deposits increased $410 37% million Savings, NOW and money Core deposits gre
Slide 7: Net Interest Income & Net Interest Margin
Net Interest Income & Net Interest Margin Net Interest Income ($ in millions) & Net Interest Margin (%) Quarterly Highlights1 $90.0 3.60% Net interest income flat at $78.0 million $80.0 3.40% $78.3 $80.4 $79.4 $79.5 $78.0 PPP income decreased $1.9 million $70.0 3.20% Net interest margin decrea
Slide 8: Noninterest Income
Noninterest Income Noninterest Income Trend1 ($ in millions) Quarterly Highlights2 $40.0 Noninterest income to total revenue was $35.0 $11.7 $11.3 34.2%1 $10.3 $10.4 $9.9 $30.0 $40.4 million1 in noninterest income, up $25.0 $1.3 million from Q2 2021 $9.0 $9.8 $10.5 $9.7 $10.1 $20.0 Retail bank
Slide 9: Noninterest Expense
Noninterest Expense Noninterest Expense Trend ($ in millions) Quarterly Highlights2 $80.0 Noninterest expense of $72.9 million $70.0 Up $1.5 million (2.0%) $60.0 Salaries & Benefits $50.0 $41.0 $42.7 $44.2 $41.6 $40.5 One additional payroll day, annual merit $40.0 increases, increased medica
Slide 10: Q3 2021 Asset Quality
Q3 2021 Asset Quality Net Charge-Offs Nonperforming Loans1 $4,500 $50,000 $47,796 1.00% $3,893 $45,554 $4,000 $43,125 $3,500 0.40% $38,677 $38,475 $40,000 0.80% $3,000 0.68%3 0.64%3 $2,500 $2,262 $2,204 $2,158 0.60%3 0.22%3 0.55%3 $30,000 0.53%3 0.60% $2,000 0.64% 0.20% 0.60% $1,500 0.13%3 0.21% 0.1
Slide 11: CECL Allowance for Loan Losses
CECL Allowance for Loan Losses Reserve / Loans by Segment Loan Type 1/1/2020 9/30/2020 12/31/2020 3/31/2021 6/30/2021 9/30/2021 Commercial & Industrial 0.98% 1.34% 1.34% 1.20% 1.11% 0.83% Paycheck Protection Program 0.00% 0.01% 0.01% 0.01% 0.01% 0.01% Commercial Real Estate 0.74% 1.57% 1.49% 1.48% 1
Slide 12: Appendix
APPENDIX 12
Slide 13: Paycheck Protection Program
Paycheck Protection Program Dollars in Thousands Q4 2020 Q1 2021 Q2 2021 Q3 2021 $ of Loans Originated 548,075 797,747 835,535 835,535 # of Loans Originated 2,971 5,492 6,060 6,060 Average Originated Balance 184 145 138 138 Current Balance 430,810 536,494 359,738 276,195 Cumulative Forgiveness % 13%
Slide 14: Commercial Loan Portfolio Detail
Commercial Loan Portfolio Detail Owner Occupied CRE ($0.5 billion)1 Commercial & Industrial ($1.5 billion)1 All Other Rental Real Wholesalers Manufacturing Industries Estate Construction Construction Trade 7.9% 9.5% 15.5% 6.3% Trade 7.4% 9.8% Medical 6.3% Accommodations Wholesalers 0.8% Restaurants
Slide 15: Interest Rate & Liquidity Risk
Interest Rate & Liquidity Risk Interest Rate Risk Position1 Loan & Deposit Mix1 Loan portfolio: − 61% Fixed / 39% Adjustable/Floating Loans Deposits Deposit repricing information: − $160 million CDs re-priced in Q3 2021 Time Offsets to low-rate environment: $750 million adjustable/floating 5%
Slide 16: Corporate Social Responsibility
Corporate Social Responsibility The highlights featured in this graphic depict some of the many ways the Company and our people are focused on what matters. 16
Slide 17: External Recognition
External Recognition Second Consecutive Year 17
Slide 18: Reconciliation of Non-GAAP Measures
Reconciliation of Non-GAAP Measures (Dollars in Thousands) Q3 2021 Q2 2021 Q3 2020 Net Income $ 37,433 $ 40,296 $ 35,113 Income Tax Expense 11,043 11,995 10,988 Provision for Loan Losses (3,342) (5,216) 3,261 FTE Adjustment 298 299 325 Net Securities Losses (Gains) 100 (201) (84) Provision for Unfun
Slide 19: Reconciliation of Non-GAAP Measures
Reconciliation of Non-GAAP Measures (Dollars in Thousands) Q3 2021 Q2 2021 Q1 2021 Q4 2020 Q3 2020 Noninterest Expense $ 72,869 $ 71,419 $ 67,888 $ 75,204 $ 66,308 Provision for Unfunded Loan Commitments Reserve 470 80 500 (900) - Nonrecurring Expense (1) (2,288) (1,880) - (4,100) - Adjusted Noninte
Slide 20: Reconciliation of Non-GAAP Measures
Reconciliation of Non-GAAP Measures (Dollars in Thousands, Except Per Share Data) Q3 2021 Q2 2021 Q3 2020 Net Income $ 37,433 $ 40,296 $ 35,113 Amortization of Intangible Assets (Net of Tax) 497 512 642 Net Income, Excluding Intangibles Amortization $ 37,930 $ 40,808 $ 35,755 Average Tangible Equity
Slide 21: Peer Group
Peer Group Name HQ City State Ticker Berkshire Hills Bancorp, Inc. Boston MA BHLB Brookline Bancorp, Inc. Boston MA BRKL First Busey Corporation Champaign IL BUSE Community Bank System, Inc. Dewitt NY CBU Customers Bancorp, Inc. Wyomissing PA CUBI First Commonwealth Financial Corporation Indiana PA