NBT Bancorp Inc.

NBT Bancorp Inc. reported its second quarter 2024 results today and announced an increase in the quarterly cash dividend of 6.3%. “Our operating performance for the second quarter and first half of 2024 continues to reflect the strength of our balance sheet, our diversified business model, and the collaboration of our team,” said NBT President and CEO Scott A. Kingsley. “During the second quarter, we grew loans $166 million across our footprint and improved our net interest margin incrementally. Noninterest income continued to be a core strength, making up 31% of total revenues for the second quarter."   "We are also pleased to announce the Board of Directors approved a third quarter cash dividend of $0.34, an increase in the quarterly cash dividend of 6.3%," added Kingsley. "This is our twelfth consecutive year of annual dividend increases, demonstrating our commitment to providing consistent and favorable long-term returns to our shareholders.”   Read the attached news release for full details.

NBT Bancorp announced that the CEO Succession Plan unanimously approved by NBT’s Board of Directors in January was executed today with Scott A. Kingsley succeeding John H. Watt, Jr. as NBT’s fifteenth President and Chief Executive Officer. Scott was also elected to NBT’s Board of Directors. John will continue to serve on the Board and has been named Vice Chairman. NBT also announced the promotion of Joseph R. Stagliano to President of NBT Bank, N.A., the Company’s wholly-owned banking subsidiary, Annette L. Burns to Executive Vice President and Chief Financial Officer, and Shauna M. Hyle to Executive Vice President, Retail Community Banking. Please join us in congratulating John, Scott, Joe, Annette and Shauna! Read the attached announcement for more details. 

Today, NBT Bancorp Inc. reported its first quarter 2024 results.   “NBT reported solid results for the quarter despite the ongoing challenges presented by the interest rate environment. Our resilient balance sheet is the foundation that allows our team to execute on our growth strategies across our markets. Our fee-based businesses continued to grow, providing diversified revenue streams that generated 31% of total revenues," said NBT President and CEO John H. Watt, Jr.    "NBT is poised to participate in the transformational growth that will occur in our core Upstate NY markets as the result of multiple game-changing investments in semiconductor manufacturing, including the recently announced $6.1 billion grant Micron Technology will receive under the CHIPS & Science Act that will, in part, support its plans to invest as much as $100 billion, over the next ten years, in a new complex of semiconductor chip manufacturing plants near Syracuse.”   Read the attached news release for full details.

On January 23, NBT Bancorp Inc. reported net income and diluted earnings per share for the three and twelve months ended December 31, 2023.   “NBT’s fourth quarter and full year results reflect our consistent dedication to improving our traditional banking franchise while growing our diversified revenue sources,” said NBT President and CEO John H. Watt, Jr. “In a year characterized by unprecedented market volatility, we grew loans and deposits, maintained strong asset quality, improved our capital position, completed the high-value acquisition of Salisbury Bancorp, Inc., and continued to deliver best-in-class customer service.”   The release also notes that the Board of Directors approved a first-quarter cash dividend of $0.32 per share on January 22, 2024, which represents 6.7%, increase over the dividend paid in the first quarter of 2023. The dividend will be paid in March.   Read the attached news release for full details.

NBT Bancorp Inc. announced a CEO succession plan unanimously approved by the Company's Board of Directors today. On May 21, 2024, John H. Watt, Jr. will step down as NBT’s President and Chief Executive Officer and be succeeded by Chief Financial Officer Scott Kingsley as President and Chief Executive Officer of NBT Bancorp. The Company also approved the promotion of Joseph Stagliano to President of NBT Bank, N.A., effective May 21. In addition, Annette Burns, NBT's Chief Accounting Officer, will be promoted and assume the role of CFO on May 21. Read the attached news release for full details. 

Today, NBT Bancorp Inc. reported its third quarter 2023 results.   “We delivered solid operating performance for the third quarter and through the first nine months of 2023, driven by our diversified business model and strength of our balance sheet,” said NBT President and CEO John H. Watt, Jr. “We completed our merger with Salisbury on August 11, 2023, welcoming new customers, employees, and shareholders to the NBT family and simultaneously we successfully completed the conversion to the NBT core banking systems. Our combined team is committed to providing a comprehensive suite of financial services to all of our customers and the communities we serve while also generating long-term value for our shareholders.”   Read the full announcement attached here.

Please note that our offices will be closed this Saturday, October 7 in recognition of the consistent, hard work of our incredible employees. We will also be closed on Monday, October 9 in observance of the holiday. We look forward to seeing you Tuesday morning. As always, you can continue to conduct your banking with our digital banking tools 24/7.

"Listen, listen, listen again ... And then speak up." Take a few minutes to check out this great article from Syracuse.com. Our President & CEO John H. Watt, Jr. had the chance to sit down for an interview with editor and writer Marie Morelli to share his perspective on leadership. You can also find it in this Sunday's print edition of The Post-Standard. https://bit.ly/3EM7noE