Nbt Bancorp Inc. · NASDAQ:NBTB
Nbt Bancorp — Investor Presentation (August 2025)
39 slides from Nbt Bancorp's investor presentation, August 2025
Slide 1: Investor Presentation Third Quarter 2025
Investor Presentation Third Quarter 2025 Financial Information as of June 30, 2025
Slide 2: About NBT Bancorp
About NBT Bancorp About NBT Bancorp Strategic Initiatives Financial Performance Appendix 2
Slide 3: Company Profile
Company Profile FINANCIAL HIGHLIGHTS ASSETS LOANS 81st Largest Bank Holding Co. $16.01 Billion $11.62 Billion Headquarters Norwich, NY Founded 1856 Ticker NASDAQ: NBTB Market Cap(1) $2.35 Billion NONINTEREST Branches 175 DEPOSITS INCOME TO REVENUE(2) Employees 2,408 $13.52 Billion Institutional Owne
Slide 4: Business Overview
Business Overview RETAIL BANKING • 175 Branches Across 7 States; 227 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 BU
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 $1.80 9.50% 8.68% 8.36% 8.42% 8.30% billion in total capital 8.11% 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 NBT is well positioned to New York State has fostered the ideal semiconductor and advanced electronics manufacturing ecosystem1 with: support regional growth The most advanced, publicly owned semiconductor R&D facility in North America; • B
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: Evans Merger Builds On Growth Opportunities
Evans Merger Builds On Growth Opportunities ASSETS LOANS DEPOSITS EMPLOYEES BRANCHES + $2.22B +$1.67B +$1.86B +200 +18 • Merger completed May 2, 2025 • Expanded NBT’s presence into Upstate New • Successful simultaneous conversion of York’s(1) two largest markets by population – all operating systems
Slide 12: Focus on Fee-Based Businesses
Focus on Fee-Based Businesses Q2 2025 Fee Income Composition(1) (%) Key Fee Revenue Verticals Over Time(2) ($ in million) Wealth Management $120 $115 22.8% Insurance Services $18 8.8% $98 $17 $96 BOLI $90 4.7% $15 $16 $80 $14 $43 Retirement Plan Other $42 Administration 7.5% $15 33.6% $33 $35 $34 Se
Slide 13: National Benefits Administration Firm
National Benefits Administration Firm Revenues ($ in thousands) 11% $59,070 6-YEAR CAGR “Helping America Retire” Over 375,000 Plan Participants Nationwide $47,221 $43,586 Customized Consulting, Recordkeeping, Actuarial and Administrative Services for All Types of Retirement Plans $31,607 Deep Partne
Slide 14: Enterprise Technology
Enterprise Technology NBT’s comprehensive Technology Roadmap is a customer and employee-focused plan designed to deliver technology-enabled solutions that enhance experience while fostering profitability and growth. 14 STRATEGIC INITIATIVES
Slide 15: Financial Performance
Financial Performance About NBT Bancorp Strategic Initiatives Financial Performance Appendix 15
Slide 16: Track Record of Consistent Growth
Track Record of Consistent Growth Total Assets Gross Loans ($ in billion) ($ in billion) $11.62 $16.01 $9.97 $9.65 $13.31 $13.79 $8.15 $12.01 $11.74 $7.50 $7.50 $10.93 $6.89 $7.14 $9.56 $9.72 2018 2019 2020 2021 2022 2023 2024 Q2'25 2018 2019 2020 2021 2022 2023 2024 Q2'25 Shareholders Equity Deposi
Slide 17: Strong & Stable Profitability
Strong & Stable Profitability Net Interest Income Net Interest Margin FTE ($ in million) $439.2 (%) $400.1 3.58% 3.58% 3.52% $378.2 $362.2 3.34% 3.31% 3.29% 3.23% $315.7 $321.1 $305.6 $311.6 3.03% 2018 2019 2020 2021 2022 2023 2024 2025(2) 2018 2019 2020 2021 2022 2023 2024 2025 (3) Fee Income(1) Ad
Slide 18: Results Overview Q2 2025
Results Overview ($ in millions except per share data) Q2 2025 Change Q1 2025 Q2 2024 % Change Q1 2025 Q2 2024 Q2 2025 Period End Balance Sheet Total loans $ 11,624.7 $ 1.644.4 $ 1,770.3 16.5% 18.0% Total deposits 13,515.2 1,806.7 2,243.8 15.4% 19.9% HIGHLIGHTS(1) Income Statement Balance Sheet FTE
Slide 19: Net Interest Income & Net Interest Margin
Net Interest Income & Net Interest Margin Net Interest Income ($ in millions) & Net Interest Margin (%) HIGHLIGHTS(1) $130.0 4.00% $124.9 • Net interest income increased $17.0 million to $124.9 million $110.0 3.75% • Net interest margin increased 15 bps to 3.59% $102.3 $106.7 $107.9 3.59% 3.50% • In
Slide 20: Noninterest Income
Noninterest Income Noninterest Income Trend(2) ($ in millions) $50.0 HIGHLIGHTS(1) (2) $4.2 $4.6 $4.3 $4.2 • $46.8 million in noninterest income $40.0 $5.9 $4.4 $5.3 $6.1 $5.6 • Noninterest income increased $3.5 $5.7 million or 8% from Q2 2024 with: $30.0 $15.9 $14.6 $15.7 • Retirement plan administ
Slide 21: Noninterest Expense
Noninterest Expense Noninterest Expense Trend(2) HIGHLIGHTS(1) ($ in millions) $125.0 Salaries & Benefits • Increased by 5.7% driven by the Evans acquisition, a full quarter of merit pay increases $100.0 and higher medical costs, partially offset by lower payroll taxes and stock-based compensation e
Slide 22: Capital Strength
Capital Strength Regulatory NBT Regulatory Well Capital Ratios 06/30/2025 Capitalized Level Tier 1 Leverage 9.55% 5.00% Total Risk-Based Capital 12.48% 10.00% Q3 2025 dividend of 13th consecutive year $0.37 per share – of annual dividend 8.8% increase increases in 2025 22 FINANCIAL PERFORMANCE
Slide 23: Loans $11.62 billion
Loans HIGHLIGHTS(1) • Loans increased $1.65 billion from December 31, 2024 Total Loans • Total commercial loans increased $1.19 billion to $6.49 billion $11.62 billion • Total consumer loans increased $0.47 billion to $5.13 billion • Loan Mix: Commercial 56% / Consumer 44% Residential Real Estate 22
Slide 24: Deposits $13.52 billion
Deposits HIGHLIGHTS(1) • Cost of total deposits of 1.51%, up 2 bps Total Deposits • Total cost of funds was 1.62%, up 2 bps $13.52 billion • Period end deposits increased $1.97 billion, or 17.0%, from December 31, 2024, including $1.86 billion of deposits acquired from Evans Time • Excluding deposit
Slide 25: Commercial Portfolio Detail $6.49 billion
Commercial Portfolio Detail Commercial & Industrial ($1.69 billion) Wholesalers 9.0% Construction Trade Manufacturing 10.1% 13.0% Medical 5.7% Commercial Loan Portfolio Real Estate Industry $6.49 billion 15.3% General Retailers 4.0% Agriculture 5.6% Automotive Retailers 1.6% Education 3.2% Food Serv
Slide 26: Consumer & Residential Portfolio Detail $5.13 billion
Consumer & Residential Portfolio Detail Residential Solar Residential Real 15% Estate Consumer Lending Portfolio 49% $5.13 billion Other Consumer 2% Indirect Auto 26% Home Equity 8% Consumer Lending Portfolio Metrics Total Weighted Outstandings # of Average Average Average Category ($000s) Accounts
Slide 27: Asset Quality
Asset Quality Net Charge-Offs Loans Past Due(2) $7,500 0.45% $60,000 0.80% $6,554 $6,000 $5,709 $43,941 $45,000 0.60% 0.30% $35,872 $4,500 $33,532 $32,097 $3,699 $3,920 $29,919 0.27% $30,000 0.40% $3,000 0.23% $2,361 0.36% 0.38% 0.15% 0.34% 0.32% 0.16% $15,000 0.30% 0.20% 0.15% $1,500 0.09% $0 0.00%
Slide 28: Appendix
Appendix About NBT Bancorp Strategic Initiatives Financial Performance Appendix 28
Slide 29: Performance to Peer Group
Performance June 30, 2025 Peer Peer to Peer Group Performance Ratios % NBTB Median Average Core ROAE(1)(2) 9.45% 9.96% 9.19% Core ROATCE(1)(2) 12.82% 13.01% 12.91% Net Interest Margin(1) 3.52% 3.38% 3.46% Fee Income / Revenue(3) 28.68% 18.90% 18.94% Loans / Deposits 86.01% 92.25% 92.64% June 30, 202
Slide 30: Loan Loss Reserve (CECL)
Loan Loss Reserve (CECL) Loan Type 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 Reserve / Loans Commercial & Industrial 0.76% 0.73% 0.73% 0.76% 0.79% by Segment Commercial Real Estate 1.00% 1.01% 0.95% 1.02% 1.14% Residential Real Estate 0.98% 1.00% 1.00% 1.00% 1.05% Auto 0.85% 0.83% 0.81% 0.7
Slide 31: NBT Stock Performance
NBT Stock Performance 4 Year 50% 40% 30% August 26, 2025 20% NBTB, 26% 10% KBW Nasdaq 0% Regional Bank, 7% -10% Peer Average, 7% -20% -30% -40% NBTB KBW Nasdaq Regional Bank Peer Average 31 APPENDIX
Slide 32: NBT Stock Performance Since Evans Announcement
NBT Stock Performance Since Evans Announcement 30% August 26, 2025 25% 20% KBW Nasdaq 15% Regional Bank, 14% 10% Peer Average, 8% 5% NBTB, -3% 0% -5% NBTB’s stock price -10% has lagged peers -15% since the acquisition announcement in -20% September 2024. NBTB KBW Nasdaq Regional Bank Peer Aver
Slide 33: 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
Slide 34: External Recognition
External Recognition In the J.D. Power 2025 U.S. Retail Banking Satisfaction Study, NBT Bank was the highest ranked bank in Upstate New York and ranked #3 in the NY Tri-State Region, which includes New York, Connecticut and New Jersey. • Recognized as a Forbes World’s Best Bank 5 times in 6 years (2
Slide 35: Reconciliation of Non-GAAP Measures
Reconciliation (Dollars in Thousands) Q2 2025 Q1 2025 Q2 2024 of Non-GAAP Net Income Amortization of Intangible Assets (Net of Tax) $ 22,510 2,282 $ 36,745 1,583 $ 32,716 1,600 Measures Net Income, Excluding Intangibles Amortization $ 24,792 $ 38,328 $ 34,316 Average Tangible Common Equity $ 1,241,3
Slide 36: Reconciliation of Non-GAAP Measures
Reconciliation (Dollars in Thousands) Net Interest Income Q2 2025 $ 124,220 Q1 2025 $ 107,223 Q4 2024 $ 106,105 Q3 2024 $ 101,669 Q2 2024 $ 97,174 of Non-GAAP FTE Adjustment 655 636 619 639 658 Measures Net Interest Income, Tax Equivalent $ 124,875 $ 107,859 $ 106,724 $ 102,308 $ 97,832 Average Tota
Slide 37: Reconciliation of Non-GAAP Measures
Reconciliation of Non-GAAP Measures (Dollars in Thousands) 2025 – YTD 2024 2023 2022 2021 2020 2019 2018 Net Interest Income $ 231,443 $ 400,122 $ 378,219 $ 362,190 $ 321,088 $ 315,678 $ 311,555 $ 305,629 FTE Adjustment 1,291 2,574 2,034 1,304 1,191 1,301 1,667 2,007 Net Interest Income, Tax Equival
Slide 38: Reconciliation of Non-GAAP Measures
Reconciliation of Non-GAAP (Dollars in Thousands) 2025 - YTD Measures Net Income $ 59,255 Securities (Gains) (Net of Tax)(1) (6) Amortization of Intangibles (Net of Tax)(1) 4,071 Acquisition Expenses (Net of Tax)(1) 14,537 Nonrecurring Revenue (Net of Tax)(1) (1,027) Core Net Income(2) $ 76,830 Aver
Slide 39: 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,” “