NBT reports rise in net income; Mass. acquisition

NORWICH – NBT Bancorp Inc. has reported net income for the nine months ended Sept. 30, 2011 was $44.2 million, up $1.2 million, or 2.8%, from the nine months ended Sept. 30, 2010. Net income per diluted share for the nine months ended Sept. 30, 2011 was $1.29 per share, up from $1.25 per diluted share for the nine months ended Sept. 30, 2010.



Annualized return on average assets and return on average equity were 1.09% and 10.95%, respectively, for the nine months ended Sept. 30, 2011, compared with 1.05% and 11.01%, respectively, for the nine months ended Sept. 30, 2010. Net interest margin (on a fully taxable equivalent basis (“FTE”)) was 4.13% for the nine months ended Sept. 30, 2011, down 4 basis points (“bps”) from 4.17% for the nine months ended Sept. 30, 2010.

Net income for the three months ended Sept. 30, 2011 was $15.2 million, up $0.6 million, or 4.4%, from the three months ended Sept. 30, 2010. Net income per diluted share for the three months ended Sept. 30, 2011 was $0.45 per share, up from $0.42 per diluted share for the three months ended Sept. 30, 2010. Annualized return on average assets and return on average equity were 1.12% and 11.21%, respectively, for the three months ended Sept. 30, 2011, compared with 1.07% and 10.89%, respectively, for the three months ended September 30, 2010. Net interest margin (FTE) was 4.14% for the three months ended Sept. 30, 2011, down slightly from 4.15% for the three months ended Sept. 30, 2010.


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