Slide 1: Earnings Presentation Second Quarter 2025
Earnings Presentation Second Quarter 2025 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: Q2 2025 Results Highlights
Q2 2025 Results Highlights Reported Operating (1) $0.44 $0.88 Successful Completion of Evans Bancorp, Inc. (“Evans”) Merger Earnings per share • Added 18 banking offices, $2.22 billion in assets, $1.67 billion in loans and $1.86 billion in deposits Generated Positive Sequential and Year-Over-Year Op
Slide 4: Evans Merger Builds On Growth Opportunities
Evans Merger Builds On Growth Opportunities ASSETS LOANS DEPOSITS EMPLOYEES BRANCHES + $2.22B +$1.67B +$1.86B +200 +18 • Merger completed May 2, 2025 • Expanded NBT’s presence into Upstate New • Successful simultaneous conversion of York’s(1) two largest markets by population – all operating systems
Slide 5: Results Overview Q2 2025
Results Overview ($ 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 6: 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 7: 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 $1.86 billion of deposits acquired from Evans Time • Excluding deposit
Slide 8: Net Interest Income & Net Interest Margin
Net Interest Income & Net Interest Margin Net Interest Income ($ 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 $107.9 3.59% 3.50% • In
Slide 9: Noninterest Income
Noninterest Income Noninterest Income Trend(2) ($ 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 $15.7 • Retirement plan administ
Slide 10: Noninterest Expense
Noninterest Expense Noninterest Expense Trend(2) HIGHLIGHTS(1) ($ 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 11: 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 12: Appendix
Appendix APPENDIX 12
Slide 13: 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 14: 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 15: Consumer & Residential Portfolio Detail $5.13 billion
Consumer & Residential Portfolio Detail Residential Solar Residential Real Consumer Lending Portfolio 15% Estate 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 16: Investment Securities Portfolio
Investment Securities Portfolio June 30, 2025 December 31, 2024 Amortized Net Unrealized Estimated Amortized Net Unrealized Estimated AFS Securities (In thousands) Cost (Losses)/Gains Fair Value Cost (Losses)/Gains Fair Value HIGHLIGHTS U.S. treasury & federal agency $ 352,425 $ (25,594) $ 326,831 $
Slide 17: Reconciliation of Non-GAAP Measures
Reconciliation (Dollars in Thousands, Except Per Share Data) Q2 2025 Q1 2025 Q2 2024 of Non-GAAP Net Income $ 22,510 $ 36,745 $ 32,716 Amortization of Intangible Assets (Net of Tax) 2,282 1,583 1,600 Measures Net Income, Excluding Intangibles Amortization $ 24,792 $ 38,328 $ 34,316 Average Tangible
Slide 18: Reconciliation of Non-GAAP Measures
Reconciliation (Dollars in Thousands) Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 of Non-GAAP Net Interest Income $ 124,220 $ 107,223 $ 106,105 $ 101,669 $ 97,174 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 19: 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