NBT announces year-to-date net income of $29M, declares dividend

NORWICH – NBT Bancorp Inc. (NBT) (NASDAQ: NBTB) reported today net income for the six months ended June 30, 2011 was $29.0 million, up $0.6 million, or 2.0 percent, from the six months ended June 30, 2010.

Net income per diluted share for the six months ended June 30, 2011 was $0.84 per share, up from $0.82 per diluted share for the six months ended June 30, 2010. Annualized return on average assets and return on average equity were 1.08 percent and 10.82 percent, respectively, for the six months ended June 30, 2011, compared with 1.04 percent and 11.07 percent, respectively, for the six months ended June 30, 2010.



Net income for the three months ended June 30, 2011 was $14.7 million, up $0.2 million, or 1.6 percent, from the three months ended June 30, 2010. Net income per diluted share for the three months ended June 30, 2011 was $0.43 per share, up from $0.42 per diluted share for the three months ended June 30, 2010. Annualized return on average assets and return on average equity were 1.09 percent and 10.86 percent, respectively, for the three months ended June 30, 2011, compared with 1.06 percent and 11.09 percent, respectively, for the three months ended June 30, 2010. Net interest margin (FTE) was 4.13 percent for the three months ended June 30, 2011, down slightly from 4.14 percent for the three months ended June 30, 2010.


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