NBT BANCORP INC
For the period ended Dec 31, 2025. Filed Feb 27, 2026.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2025 · Filed Feb 27, 2026
NBTB$53.41-0.4%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 8. Consolidated Statements of Cash Flows
CashFlows
| Years Ended December 31, | |||
|---|---|---|---|
| (In thousands) | 2025 | 2024 | 2023 |
| Operating activities | |||
| Net income | $169,235 | $140,641 | $118,782 |
| Adjustments to reconcile net income to net cash provided by operating activities | |||
| Provision for loan losses | 32,254 | 19,607 | 25,274 |
| Depreciation and amortization of premises and equipment | 12,999 | 11,525 | 10,695 |
| Net amortization on securities | 1,494 | 2,500 | 2,736 |
| Amortization of intangible assets | 11,944 | 8,443 | 4,734 |
| Amortization of operating lease right-of-use assets | 8,589 | 7,527 | 6,843 |
| Excess tax benefit on stock-based compensation | (674) | (295) | (296) |
| Stock-based compensation expense | 5,281 | 5,992 | 5,102 |
| Bank owned life insurance income | (12,393) | (8,325) | (6,750) |
| Amortization of subordinated debt issuance costs | 199 | 437 | 437 |
| Proceeds from sale of loans held for sale | 219,242 | 153,973 | 53,969 |
| Originations of loans held for sale | (211,089) | (159,943) | (55,960) |
| Net gain on sale of loans held for sale | (637) | (202) | (156) |
| Net security (gains) losses | (148) | (2,789) | 9,315 |
| Net gains on sale of other real estate owned | (64) | (1) | (69) |
| Impairment of a minority interest equity investment | - | - | 4,750 |
| Net deferred income tax expense (benefit) | 23,573 | 8,729 | 5,958 |
| Net change in other assets and other liabilities | (24,587) | 748 | (27,907) |
| Net cash provided by operating activities | $235,218 | $188,567 | $157,457 |
| Investing activities | |||
| Net cash provided by (used in) acquisitions | $37,944 | $(1,383) | $44,564 |
| Securities available for sale: | |||
| Proceeds from maturities, calls and principal paydowns | 256,498 | 167,903 | 116,453 |
| Proceeds from sales | 254,468 | 2,284 | 124,577 |
| Purchases | (474,865) | (292,941) | - |
| Securities held to maturity: | |||
| Proceeds from maturities, calls and principal paydowns | 174,206 | 144,301 | 100,954 |
| Purchases | (91,737) | (83,282) | (88,022) |
| Equity securities: | |||
| Proceeds from sales | 491 | - | - |
| Purchases | - | (18) | (11) |
| Other: | |||
| Net decrease (increase) in loans | 17,141 | (337,661) | (338,111) |
| Proceeds from Federal Home Loan Bank stock redemption | 30,492 | 74,675 | 91,535 |
| Purchases of Federal Reserve Bank and Federal Home Loan Bank stock | (31,029) | (62,771) | (90,945) |
| Proceeds from settlement of bank owned life insurance | 11,417 | 1,400 | 3,766 |
| Purchases of premises and equipment, net | (16,302) | (11,742) | (9,254) |
| Proceeds from sales of other real estate owned | 348 | 75 | 268 |
| Net cash provided by (used in) investing activities | $169,072 | $(399,160) | $(44,226) |
| Financing activities | |||
| Net increase in deposits | $88,383 | $577,767 | $164,085 |
| Net decrease in short-term borrowings | (57,873) | (223,709) | (231,743) |
| Redemption of subordinated debt | (118,000) | - | - |
| Proceeds from long-term debt | - | - | 25,000 |
| Repayments of long-term debt | (26,664) | (152) | (118) |
| Proceeds from the issuance of shares to employee and other stock plans | 117 | 61 | 91 |
| Cash paid by employer for tax-withholding on stock issuance | (4,414) | (1,993) | (1,877) |
| Purchase of treasury stock | (10,185) | (251) | (4,944) |
| Cash dividends | (72,594) | (62,263) | (55,886) |
| Net cash (used in) provided by financing activities | $(201,230) | $289,460 | $(105,392) |
| Net increase in cash and cash equivalents | $203,060 | $78,867 | $7,839 |
| Cash and cash equivalents at beginning of year | 284,056 | 205,189 | 197,350 |
| Cash and cash equivalents at end of year | $487,116 | $284,056 | $205,189 |
| Years Ended December 31, | |||
|---|---|---|---|
| 2025 | 2024 | 2023 | |
| Supplemental disclosure of cash flow information: | |||
| Cash paid during the year for: | |||
| Interest expense | $215,590 | $215,154 | $130,180 |
| Income taxes paid, net of refund | 24,570 | 23,317 | 27,636 |
| Noncash investing activities: | |||
| Loans transferred to other real estate owned | $504 | $256 | $94 |
| Acquisitions: | |||
| Fair value of assets acquired, excluding acquired cash and goodwill | $2,088,233 | $4,360 | $1,415,712 |
| Fair value of liabilities assumed | 1,997,253 | - | 1,380,386 |
| Common stock issued | 221,767 | - | 161,723 |
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