NBT Bancorp elects not to participate in U.S. Treasury TARP program

NORWICH – NBT Bancorp Inc. confirmed last week that the company declined to participate in the U.S. Treasury’s Troubled Asset Relief Program, the largest part of the United States’ so-called $700 billion bailout plan.

NBT’s President and Chief Executive Officer Martin Deitrich said the Norwich-based bank received notification that the funds would be available in a an e-mail late last month from the Treasury, but after considering the proposal, chose not to take it.

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