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NBT Bancorp (NBTB) in Norwich, N.Y., reported fourth-quarter net income of $17.9 million, a 37% increase from a year earlier.
January 28 -
The board of NBT Bancorp (NBTB) 's board has made sweeping changes to the Norwich, N.Y., company's bylaws.
May 8 -
Alliance Bank in Syracuse, N.Y., has warned that almost 100 jobs would be eliminated after its merger with NBT Bank next year.
December 10 -
NBT Bancorp (NBTB) will acquire Alliance Financial (ALNC) in a deal valued at $233 million.
October 8
NBT Bancorp in Norwich, N.Y., reported a 63% rise in second-quarter earnings from a year earlier after selling partial ownership in Springstone Financial.
The $7.9 billion-asset company had quarterly net income of $27.6 million. This included an $11.2 million net gain as NBT in April sold its 20% ownership interest in Springstone to online lender
Earnings per share of 62 cents beat the estimates of analysts polled by Bloomberg by 20 cents.
Net interest income was $62.6 million, up 1.5% from the same period last year. Net interest margin fell nine basis points, to 3.6%, because of decreasing loan yields.
Noninterest income increased 80%, to $46 million, boosted by a $19.4 million gain from the Springstone sale.
NBT's noninterest expenses rose 11%, to $62.7 million, due primarily to $4.6 million of prepayment penalties as the company
The company recorded a quarterly loan loss provision of $4.2 million, compared with $6.4 million a year ago.