NBT BANCORP INC
For the period ended Dec 31, 2024. Filed Feb 28, 2025.
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FY2024 · Filed Feb 28, 2025
NBTB$53.41-0.4%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Consolidated Statements of Income
Statements ofIncome
| Years Ended December 31, | |||
|---|---|---|---|
| (In thousands, except per share data) | 2024 | 2023 | 2022 |
| Interest, fee and dividend income | |||
| Interest and fees on loans | $552,846 | $462,669 | $332,768 |
| Securities available for sale | 31,274 | 29,812 | 29,653 |
| Securities held to maturity | 20,466 | 20,681 | 17,582 |
| Other | 7,084 | 9,627 | 4,067 |
| Total interest, fee and dividend income | $611,670 | $522,789 | $384,070 |
| Interest expense | |||
| Deposits | $186,948 | $104,641 | $9,923 |
| Short-term borrowings | 8,669 | 25,608 | 2,623 |
| Long-term debt | 1,166 | 925 | 161 |
| Subordinated debt | 7,232 | 6,076 | 5,424 |
| Junior subordinated debt | 7,533 | 7,320 | 3,749 |
| Total interest expense | $211,548 | $144,570 | $21,880 |
| Net interest income | $400,122 | $378,219 | $362,190 |
| Provision for loan losses | 19,607 | 25,274 | 17,147 |
| Net interest income after provision for loan losses | $380,515 | $352,945 | $345,043 |
| Noninterest income | |||
| Service charges on deposit accounts | $17,087 | $15,425 | $14,630 |
| Card services income | 22,331 | 20,829 | 29,058 |
| Retirement plan administration fees | 56,587 | 47,221 | 48,112 |
| Wealth management | 41,641 | 34,763 | 33,311 |
| Insurance services | 17,032 | 15,667 | 14,696 |
| Bank owned life insurance income | 8,325 | 6,750 | 6,044 |
| Net securities gains (losses) | 2,789 | (9,315) | (1,131) |
| Other | 11,032 | 10,838 | 10,858 |
| Total noninterest income | $176,824 | $142,178 | $155,578 |
| Noninterest expense | |||
| Salaries and employee benefits | $232,487 | $194,250 | $187,830 |
| Technology and data services | 39,139 | 38,163 | 35,712 |
| Occupancy | 31,309 | 28,408 | 26,282 |
| Professional fees and outside services | 19,132 | 17,601 | 16,810 |
| Office supplies and postage | 7,525 | 6,917 | 6,140 |
| FDIC assessment | 6,765 | 6,257 | 3,197 |
| Advertising | 3,386 | 3,054 | 2,822 |
| Amortization of intangible assets | 8,443 | 4,734 | 2,263 |
| Loan collection and other real estate owned, net | 2,505 | 2,618 | 2,647 |
| Acquisition expenses | 1,531 | 9,978 | 967 |
| Other | 25,659 | 29,684 | 19,795 |
| Total noninterest expense | $377,881 | $341,664 | $304,465 |
| Income before income tax expense | $179,458 | $153,459 | $196,156 |
| Income tax expense | 38,817 | 34,677 | 44,161 |
| Net income | $140,641 | $118,782 | $151,995 |
| Earnings per share | |||
| Basic | $2.98 | $2.67 | $3.54 |
| Diluted | $2.97 | $2.65 | $3.52 |
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