Nbt Bancorp Inc. · NASDAQ:NBTB
Nbt Bancorp — Investor Presentation (February 2026)
39 slides from Nbt Bancorp's investor presentation, February 2026
Slide 1: Investor Presentation First Quarter 2026
Investor Presentation First Quarter 2026 Financial Information as of December 31, 2025
Slide 2: About NBT Bancorp
About NBT Bancorp About NBT Bancorp Strategic Initiatives Financial Performance Appendix 2
Slide 3: Company Profile and Financial Highlights
Company Profile FINANCIAL HIGHLIGHTS ASSETS LOANS 83rd Largest Bank Holding Co. (1) $16.00 Billion $11.60 Billion Headquarters Norwich, NY Founded 1856 Ticker NASDAQ: NBTB Market Cap(1) $2.32 Billion NONINTEREST Branches(1) 176 DEPOSITS INCOME TO REVENUE(2) Employees 2,405 $13.50 Billion Institution
Slide 4: Business Overview
Business Overview RETAIL BANKING • 176 Branches Across 7 States; 228 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 $1.75 9.50% 8.95% 8.68% 8.58% 8.42% 8.30% billion in total capital 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 +$1.86B +200 +18 • Merger completed May 2, 2025 • Expanded NBT’s presence into Upstate New • Successful simultaneous conversion of York’s(1) two largest markets by population – all operating systems
Slide 12: Focus on Fee-Based Businesses
Focus on Fee-Based Businesses Q4 2025 Fee Income Composition(1) (%) Key Fee Revenue Verticals Over Time(2) ($ in million) $124 Wealth Management Insurance Services $115 24.3% 7.9% $18 BOLI $17 7.2% $96 $98 $90 $15 $16 $80 $14 $45 Other $42 9.3% $15 Retirement Plan $33 $35 Administration $34 28.5% Se
Slide 13: National Benefits Administration Firm
National Benefits Administration Firm Revenues ($ in thousands) 12% 6-YEAR CAGR $61,585 “Helping America Retire” Over 375,000 Plan Participants Nationwide $47,221 Customized Consulting, Recordkeeping, Actuarial and $43,586 Administrative Services for All Types of Retirement Plans Deep Partnerships w
Slide 14: Enterprise Technology
Enterprise Technology NBT’s comprehensive Technology Roadmap is a customer and employee-focused plan designed to deliver technology-enabled solutions that enhance experience while fostering profitability and growth. 14 STRATEGIC INITIATIVES
Slide 15: Financial Performance
Financial Performance About NBT Bancorp Strategic Initiatives Financial Performance Appendix 15
Slide 16: Track Record of Consistent Growth
Track Record of Consistent Growth Total Assets Gross Loans ($ in billion) ($ in billion) $11.60 $16.00 $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 $9.72 2018 2019 2020 2021 2022 2023 2024 2025 2018 2019 2020 2021 2022 2023 2024 2025 Shareholders Equity Deposits
Slide 17: Strong & Stable Profitability
Strong & Stable Profitability Net Interest Income Net Interest Margin FTE ($ in million) (%) $501.5 3.58% 3.58% 3.59% 3.31% 3.34% $400.1 3.29% $378.2 3.23% $362.2 $311.6 $315.7 $321.1 3.03% $305.6 2018 2019 2020 2021 2022 2023 2024 2025 2018 2019 2020 2021 2022 2023 2024 2025 Fee Income(1) Adjusted
Slide 18: Results Overview Q4 2025
Results Overview ($ in millions except per share data) Q4 2025 Change Q3 2025 Q4 2024 % Change Q3 2025 Q4 2024 Q4 2025 Period End Balance Sheet Total loans $ 11,598.1 $ 3.0 $ 1,628.2 -% 16.3% Total deposits 13,499.2 (161.7) 1,952.4 (1.2%) 16.9% HIGHLIGHTS(1) Income Statement Balance Sheet FTE net in
Slide 19: Net Interest Income & Net Interest Margin
Net Interest Income & Net Interest Margin Net Interest Income ($ in millions) & Net Interest Margin (%) HIGHLIGHTS(1) $150.0 4.25% • Net interest income increased $0.8 million to $136.0 million $125.0 $135.3 $136.0 4.00% • Net interest margin decreased 1 bp to 3.65% $124.9 3.75% • Interest-earning a
Slide 20: Noninterest Income
Noninterest Income Noninterest Income Trend(2) ($ in millions) $60.0 HIGHLIGHTS(1) (2) • $49.6 million in noninterest income $50.0 $5.1 $5.1 $4.2 • Noninterest income increased $7.4 $4.6 $6.4 $6.2 $40.0 $4.4 $5.3 million or 17% from Q4 2024 with: $6.1 $5.7 • Retirement plan administration fees $15.9
Slide 21: Noninterest Expense
Noninterest Expense Noninterest Expense Trend(2) ($ in millions) $125.0 HIGHLIGHTS(1) Salaries & Benefits $100.0 • Decreased by 1.0% driven by lower incentive compensation expenses partially offset by $66.6 $66.0 $75.0 $64.2 higher medical expenses $61.7 $60.7 Other Expenses $50.0 • Other expenses i
Slide 22: Capital Strength
Capital Strength Regulatory NBT Regulatory Well Capital Ratios 12/31/2025 Capitalized Level Tier 1 Leverage 9.48% 5.00% Total Risk-Based Capital 14.24% 10.00% Q1 2026 dividend of 13th consecutive year $0.37 per share – of annual dividend 8.8% increase increases in 2025 22 FINANCIAL PERFORMANCE
Slide 23: Loans $11.60 billion
Loans HIGHLIGHTS(1) Total Loans • Loans increased $1.63 billion, or 16.3% from December 31, 2024 $11.60 billion • Total commercial loans increased $1.17 billion to $6.47 billion Residential Mortgage • Total consumer loans increased $0.46 billion to $5.13 billion 22% • Loan Mix: Commercial 56% / Cons
Slide 24: Deposits $13.50 billion
Deposits Total Deposits HIGHLIGHTS(1) $13.50 billion • Cost of total deposits of 1.44%, down 8 bps • Total cost of funds was 1.51%, down 9 bps • Period end deposits increased $1.95 billion, or 16.9%, Time from December 31, 2024 11% Demand (Noninterest Bearing) • Low-cost deposits were 58% of total d
Slide 25: Commercial Portfolio Detail $6.47 billion
Commercial Portfolio Detail Commercial & Industrial ($1.67 billion) Construction Trade Wholesalers 7.7% Manufacturing 9.1% 12.8% Medical 5.9% Real Estate Commercial Loan Portfolio Industry 16.3% General Retailers 3.2% $6.47 billion Agriculture 5.8% Automotive Retailers 1.6% Education 3.6% Food Servi
Slide 26: Consumer & Residential Portfolio Detail $5.13 billion
Consumer & Residential Portfolio Detail Residential Solar Residential 14% Mortgage Consumer Lending Portfolio 50% $5.13 billion Other Consumer 1% Indirect Auto 26% Home Equity 9% Consumer Lending Portfolio Metrics Total Weighted Outstandings # of Average Average Average Category ($000s) Accounts Bal
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 $44,328 $43,700 $45,000 0.60% $4,765 $4,300 0.30% $4,500 $33,532 $32,097 0.27% $30,000 0.40% $3,000 0.23% $2,361 0.38% 0.38% 0.38% 0.15% 0.34% 0.32% 0.15% 0.16% $15,000 0.20% $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 December 31, 2025 Peer Peer to Peer Group Performance Ratios % NBTB Median Average Core ROAE(1)(2) 11.18% 9.72% 9.79% Core ROATCE(1)(2) 15.35% 14.12% 13.92% Net Interest Margin(1) 3.59% 3.51% 3.55% Fee Income / Revenue(3) 28.03% 18.36% 18.88% Loans / Deposits 85.92% 91.94% 91.57% Decembe
Slide 30: Loan Loss Reserve (CECL)
Loan Loss Reserve (CECL) Loan Type 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 Reserve / Loans Commercial & Industrial 0.73% 0.76% 0.79% 0.81% 0.76% by Segment Commercial Real Estate 0.95% 1.02% 1.14% 1.13% 1.06% Residential Mortgage and Home Equity 1.00% 1.00% 1.05% 1.05% 1.06% Auto 0.81% 0
Slide 31: NBT Stock Performance
NBT Stock Performance 4 Year 40% 30% December 31, 2025 20% NBTB, 8% 10% KBW Nasdaq 0% Regional Bank, -2% -10% Peer Average, -6% -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% December 31, 2025 25% KBW Nasdaq 20% Regional Bank, 13% 15% Peer Average, 4% 10% 5% NBTB, -10% 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 A
Slide 33: Peer Group
Peer Group Name HQ City State Ticker Beacon Financial Corporation Boston MA BBT Community Financial System, Inc. Dewitt NY CBU Dime Community Bancshares, Inc. Hauppauge NY DCOM Eastern Bankshares, Inc. Boston MA EBC First Busey Corporation Leawood KS BUSE First Commonwealth Financial Corporation Ind
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) Q4 2025 Q3 2025 Q4 2024 of Non-GAAP Net Income $ 55,509 $ 54,471 $ 36,005 Measures Amortization of Intangible Assets (Net of Tax) 2,522 2,572 1,560 Net Income, Excluding Intangibles Amortization $ 58,031 $ 57,043 $ 37,565 Average Tangible Common Equity $ 1,350,3
Slide 36: Reconciliation of Non-GAAP Measures
Reconciliation (Dollars in Thousands) Net Interest Income Q4 2025 $ 135,440 Q3 2025 $ 134,663 Q2 2025 $ 124,220 Q1 2025 $ 107,223 Q4 2024 $ 106,105 of Non-GAAP FTE Adjustment 581 594 655 636 619 Measures Net Interest Income, Tax Equivalent $ 136,021 $ 135,257 $ 124,875 $ 107,859 $ 106,724 Average To
Slide 37: Reconciliation of Non-GAAP Measures
Reconciliation of Non-GAAP Measures (Dollars in Thousands) 2025 2024 2023 2022 2021 2020 2019 2018 Net Interest Income $ 501,546 $ 400,122 $ 378,219 $ 362,190 $ 321,088 $ 315,678 $ 311,555 $ 305,629 FTE Adjustment 2,466 2,574 2,034 1,304 1,191 1,301 1,667 2,007 Net Interest Income, Tax Equivalent $
Slide 38: Reconciliation of Non-GAAP Measures
Reconciliation of Non-GAAP (Dollars in Thousands) 2025 Measures Net Income $ 169,235 Securities (Gains) (Net of Tax)(1) (117) Amortization of Intangibles (Net of Tax)(1) 9,436 Acquisition Expenses (Net of Tax)(1) 15,426 Core Net Income(2) $ 193,980 Average Stockholders’ Equity $ 1,735,364 Average Ta
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,” “