Nbt Bancorp Inc. · NASDAQ:NBTB
Nbt Bancorp — Q1 2025 Earnings Presentation
20 slides from Nbt Bancorp's earnings presentation, Apr 25, 2025
Slide 1: Earnings Presentation First Quarter 2025
Earnings Presentation First 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: Q1 2025 Results Highlights
Q1 2025 Results Highlights Reported Operating (1) $0.77 $0.80 Generated Positive Sequential and Year-Over-Year Operating Leverage Earnings per share • Revenues (3) grew 4.4% while expenses (4) declined 1.1% from the previous quarter • Revenues (3) grew 11.8% while expenses (4) grew 7.5% from the fir
Slide 4: Results Overview Q1 2025
Results Overview ($ in millions except per share data) Q1 2025 Change Q4 2024 Q1 2024 % Change Q4 2024 Q1 2024 Q1 2025 Period End Balance Sheet Total loans $ 9,980.3 $ 10.4 $ 292.2 0.1% 3.0% Total deposits 11,708.5 161.8 513.2 1.4% 4.6% HIGHLIGHTS(1) Income Statement (2) FTE net interest income $ 10
Slide 5: Loans $9.98 billion
Loans HIGHLIGHTS(1) Total Loans • Loans increased $10.4 million from December 31, 2024 $9.98 billion • Total commercial loans increased $23.9 million to $5.33 billion • Total consumer loans decreased $13.6 million to $4.65 billion Residential Real Estate 22% • Loan Mix: Commercial 53% / Consumer 47%
Slide 6: Deposits $11.71 billion
Deposits HIGHLIGHTS(1) Total Deposits • Cost of total deposits of 1.49%, down 11 bps $11.71 billion • Total cost of funds was 1.60%, down 11 bps • Period end deposits increased $161.8 million, or 1.4%, from December 31, 2024 Time 12% Demand • Noninterest bearing deposits were 29% of total deposits (
Slide 7: Net Interest Income & Net Interest Margin
Net Interest Income & Net Interest Margin Net Interest Income ($ in millions) & Net Interest Margin (%) HIGHLIGHTS(1) $110.0 4.00% $106.7 $107.9 • Net interest income increased $1.1 million to $107.9 million $100.0 $102.3 3.75% • Net interest margin increased 10 bps to 3.44% $97.8 $90.0 $95.8 3.50%
Slide 8: Noninterest Income
Noninterest Income Noninterest Income Trend(2) ($ in millions) $50.0 $4.2 $4.3 $4.1 $4.2 $5.3 $40.0 $4.4 $5.9 $5.2 $5.6 HIGHLIGHTS(1) (2) $5.7 • Noninterest income to total revenue $30.0 $14.6 $15.9 $14.3 was 31% (above peer levels) $14.8 $12.9 • $47.6 million in noninterest income $20.0 • Nonintere
Slide 9: Noninterest Expense
Noninterest Expense Noninterest Expense Trend(2) ($ in millions) $125.0 HIGHLIGHTS(1) Salaries & Benefits $100.0 • Decreased by 1.7% driven by lower medical and other benefit costs, lower levels of incentive $75.0 compensation and lower salaries due to two fewer $61.7 $60.7 payroll days in the quart
Slide 10: 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 $45,000 0.60% $4,679 0.30% $35,872 $4,500 $32,277 $33,532 $32,097 $3,699 $3,920 $29,919 0.27% $30,000 0.40% $3,000 0.23% 0.19% 0.15% 0.36% 0.34% 0.33% 0.32% 0.16% $15,000 0.30% 0.20% 0.15% $1,500 $0 0.00%
Slide 11: Appendix
Appendix APPENDIX 11
Slide 12: Loan Loss Reserve (CECL)
Loan Loss Reserve (CECL) Loan Type 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 Reserve / Loans Commercial & Industrial 0.79% 0.76% 0.73% 0.73% 0.76% by Segment Commercial Real Estate 0.97% 1.00% 1.01% 0.95% 1.02% Residential Real Estate 0.89% 0.98% 1.00% 1.00% 1.00% Auto 0.81% 0.85% 0.83% 0.8
Slide 13: Commercial Portfolio Detail $5.33 billion
Commercial Portfolio Detail Commercial & Industrial ($1.44 billion) Wholesalers 8.2% Manufacturing Construction Trade 9.8% 11.0% Medical 6.1% Real Estate Commercial Loan Portfolio Industry General Retailers 3.8% $5.33 billion 15.6% Agriculture 6.6% Automotive Retailers 1.9% Education 4.4% Food Servi
Slide 14: Consumer & Residential Portfolio Detail $4.65 billion
Consumer & Residential Portfolio Detail Residential Solar 17% Consumer Lending Portfolio Residential Real Estate $4.65 billion Other 46% Consumer 2% Indirect Auto 28% Home Equity 7% Consumer Lending Portfolio Metrics Total Weighted Outstandings # of Average Average Average Category ($000s) Accounts
Slide 15: Investment Securities Portfolio
Investment Securities Portfolio March 31, 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 U.S. treasury & federal agency $ 357,304 $ (29,648) $ 327,656 $ 357,186 $
Slide 16: Strategic Partnership with Evans Bank
Strategic Partnership Financially Compelling Transaction with High-Quality Partner with Evans Bank • Closing expected on May 2, 2025 with simultaneous core system conversion • Expansion into highly attractive markets with significant scarcity value NBT Bank Evans Bank Vermont Maine • Expands NBT’s p
Slide 17: 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 18: Reconciliation of Non-GAAP Measures
Reconciliation (Dollars in Thousands, Except Per Share Data) Net Income Q1 2025 $ 36,745 Q4 2024 $ 36,005 Q1 2024 $ 33,823 of Non-GAAP Amortization of Intangible Assets (Net of Tax) 1,583 1,560 1,626 Measures Net Income, Excluding Intangibles Amortization $ 38,328 $ 37,565 $ 35,449 Average Tangible
Slide 19: Reconciliation of Non-GAAP Measures
Reconciliation (Dollars in Thousands) Net Interest Income Q1 2025 $ 107,223 Q4 2024 $ 106,105 Q3 2024 $ 101,669 Q2 2024 $ 97,174 Q1 2024 $ 95,174 of Non-GAAP FTE Adjustment 636 619 639 658 658 Measures Net Interest Income, Tax Equivalent $ 107,859 $ 106,724 $ 102,308 $ 97,832 $ 95,832 Average Total
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