NORWICH Ė NBT Bancorp has received another acknowledgment for its standout financial performance, this time with a top 15 ranking among 150 of the nationís largest publicly-owned banks and thrifts in Bank Director magazine.
The results of the industry magazineís 2009 Bank Performance Scorecard were revealed in an article by business writer Charles Keenan, entitled, ďHome Run Hitters,Ē which appeared in the first quarter 2010 issue.
The rankings were based on a performance scorecard where each of the banks were rated on profitability, capital adequacy and asset quality over the last two quarters of 2008, and the first two quarters of 2009.
ďDespite the upheaval of bank balance sheets across America, there are many financial institutions still going strong, especially ones that adhere to a basic formula for successful banking: lend money to low-risk borrowers, keep a lid on expenses, and dominate local market share,Ē reported Keenan.
NBT, which placed 13th on this yearís list, is one of only two financial institutions from the Northeast to make the top 15. The company was ranked 39th on the list in 2008 and 58th in 2007.