NBT Bancorp, Inc. announces second quarter earnings, cash dividends

NORWICH NBT Bancorp Inc. has reported that net income for the three months ending June 30, 2009 was $11.6 million, down 21.1 percent from the same quarter last year. Net income per diluted share fell from $0.45 to $ 0.34 for the second quarter from the same period in 2008.

I am pleased with our results for the first six months of the year, which are consistent with our all time record earnings in 2008, but for increased FDIC and pension expenses, reported NBT President and CEO Martin Dietrich in a statement issued Monday. In addition, asset quality indicators continue to hold up well relative to national and local trends, despite an increase in nonaccrual loans this quarter.

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