Categories: Banks & Credit UnionsSubscriber Only

NBT Bank profit rises 12 percent in first quarter

The NBT Bank branch in Camillus. (ADAM ROMBEL/ BJNN)

NORWICH — NBT Bancorp Inc. (NASDAQ: NBTB) reported that its net income rose 12.1 percent to $29.1 million, or 66 cents a share, in the first quarter from $26 million, or 59 cents, in the year-ago period. The increase was led by growth in both noninterest and net interest income. The Norwich–based banking company posted […]

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The increase was led by growth in both noninterest and net interest income.

The Norwich–based banking company posted net interest income of $77.7 million in the first quarter, up 5.7 percent from the year-ago period. NBT’s noninterest income in the first quarter was $33.8 million, up 8.1 percent from the first quarter of 2018.

NBT Bancorp has total assets of $9.5 billion. The company primarily operates through NBT Bank, N.A., a full-service community bank, and through two financial services companies — EPIC Retirement Plan Services and NBT Insurance Agency, LLC.

NBT Bank has 149 branches in New York, Pennsylvania, Vermont, Massachusetts, New Hampshire, and Maine. NBT Bank is ranked third in deposit market share in the 16-county Central New York region, with a 10.7 percent share of all market deposits, according to the latest FDIC statistics. The bank has nearly five dozen branches in the region.

Adam Rombel