NBT Bancorp Inc. reported significant financial performance improvements in its latest 10-Q filing for the quarter ending June 30, 2026. The company achieved a net income of $53.0 million, a substantial increase from $22.5 million in the same quarter of the previous year, translating to earnings per share (EPS) of $1.02, up from $0.45. For the first half of 2026, net income reached $104.2 million, compared to $59.3 million in the first half of 2025, with diluted EPS rising to $1.99 from $1.21. The increase in profitability was driven by a 10.3% rise in net interest income, which totaled $137.0 million for the quarter, and a 17.2% increase to $271.3 million for the six-month period.
The company’s total assets grew to $16.21 billion as of June 30, 2026, up from $15.99 billion at the end of 2025. This growth was supported by a 2.4% increase in total loans, which reached $11.87 billion, and a slight rise in total deposits to $13.54 billion. The loan-to-deposit ratio stood at 87.7%, reflecting a stable funding environment. The allowance for credit losses increased to $140.5 million, representing 1.18% of total loans, indicating a cautious approach to potential credit risks amid changing economic conditions.
Strategically, NBT Bancorp has continued to integrate its acquisition of Evans Bancorp, completed in May 2025, which has enhanced its market presence in Western New York. The merger has contributed to the growth in both loans and deposits, with the company reporting a significant increase in its commercial and industrial loan portfolio. The integration process is ongoing, and while it has incurred acquisition-related expenses, the long-term benefits are expected to bolster the company’s financial position.
Operationally, NBT Bancorp has focused on enhancing its customer engagement and product offerings. The company reported a diverse deposit base with over 611,000 accounts, and it continues to invest in technology to improve service delivery. The noninterest income for the quarter was $49.7 million, reflecting a 6.0% increase year-over-year, driven by higher service charges and card services income. The company remains committed to maintaining a strong capital position, with stockholders’ equity at $1.94 billion, representing 11.99% of total assets.
Looking ahead, NBT Bancorp anticipates continued growth in its loan and deposit portfolios, supported by a favorable economic outlook and strategic initiatives. The company is closely monitoring interest rate trends and economic conditions to manage its interest rate risk effectively. The management remains optimistic about leveraging its expanded market presence and operational efficiencies to drive future profitability.
About NBT BANCORP INC
NBT Bancorp Inc. is a financial holding company primarily engaged in banking, wealth management, and insurance services through its subsidiary, NBT Bank. It serves retail, commercial, and municipal clients across upstate New York and surrounding regions. The company emphasizes community banking, local decision-making, and financial products like deposit accounts, loans, and digital banking, with a focus on customer relationships, community involvement, and regulatory compliance.
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