NBTB · NBT Bancorp Inc.

NBT Bancorp reported solid first quarter 2026 results, with net income of $51.1 million ($0.98 per diluted share) compared to $36.7 million ($0.77) in the prior-year quarter, reflecting the impact of the Evans Bancorp acquisition completed in May 2025 and organic growth. Net interest income on an FTE basis was $134.9 million, and net interest margin expanded 7 basis points sequentially to 3.72%, driven by a 9 bps decline in cost of funds that more than offset a 2 bps decline in earning asset yields. Noninterest income was $49.7 million, led by retirement plan administration fees which increased 17.5% from the prior quarter due to higher activity-based fees and market values. Noninterest expense rose to $112.2 million from $99.9 million a year ago, primarily due to the Evans acquisition and investments in people and infrastructure. Credit quality remained stable with net charge-offs of 0.17% annualized and nonperforming loans at 0.53% of total loans. The provision for loan losses increased to $5.6 million from $3.8 million in the prior quarter, driven by higher net charge-offs and specific reserves. Tangible book value per share increased to $27.05, up 51 bps from December 31, 2025. The company repurchased 250,000 shares for $11.0 million during the quarter. Management highlighted disciplined execution, margin expansion, and strong fee-based business performance as key drivers.