NBT Bancorp Q2 net income $30.1M, EPS $0.70; core EPS $0.80; Salisbury merger on track for Aug 11

NBT BANCORP INC

2023-Q2 EPS reported $1.48

Net income $30.1M ($0.70 diluted EPS) vs $37.8M ($0.88) YoY and $33.7M ($0.78) QoQ; adjusted EPS $0.80.
Net interest margin (FTE) 3.27%, down 28 bps QoQ on higher deposit costs and short-term borrowings.
Loans grew $208M (5.1% annualized) from Dec 2022 to $8.36B; deposits flat at $9.53B.
Pending Salisbury Bancorp merger expected to close Aug 11, 2023; received all regulatory and shareholder approvals.
Tangible book value per share $21.55, flat QoQ and up 2.7% YoY; CET1 ratio 12.29%.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.99

NBT BANCORP INC reported for the three months ended June 30, 2023 results: net income $30.1 million, EPS $0.70 per diluted common share.

Period: for the three months ended June 30, 2023
Net income: $30.1 million
EPS: $0.70 per diluted common share
Result: reported results

Exact text from the filing

NBT BANCORP INC. ANNOUNCES SECOND QUARTER NET INCOME OF $30.1 MILLION ($0.70 PER DILUTED COMMON SHARE) NORWICH, NY (July 31, 2023) – NBT Bancorp Inc. (“NBT” or the “Company”) (NASDAQ: NBTB) reported net income and diluted earnings per share for the three and six months ended June 30, 2023. Net income for the three months ended June 30, 2023 was $30.1 million, or $0.70 per diluted common share, compared to $37.8 million, or $0.88 per diluted share, for the three months ended June 30, 2022, and $33.7 million, or $0.78 per diluted share, in the first quarter of 2023.

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Source: SEC EDGAR

accession 0001140361-23-037045

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