NBT Bancorp Q1 net income $36.7M ($0.77 EPS), operating EPS $0.80; Evans merger closing May 2

NBT BANCORP INC

2025-Q1 EPS reported $0.77

Net income $36.7M ($0.77 diluted EPS) up from $33.8M ($0.71) in Q1 2024; operating EPS $0.80.
NIM on FTE basis 3.44%, up 10 bps QoQ; earning asset yield 4.95% down 1 bp; cost of deposits 1.49% down 11 bps.
Period-end loans $9.98B (+$10.4M from Dec); deposits $11.71B (+$161.8M); loan-to-deposit 85.2%.
Provision for loan losses $7.6M vs $2.2M prior quarter due to economic forecasts and higher charge-offs; net charge-offs 0.27% annualized.
Merger with Evans Bancorp expected to close May 2, 2025; Evans had $2.19B assets; exchange ratio 0.91 NBT shares per Evans share.

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