NBT Bancorp Inc. reported its financial results for the second quarter of 2025, revealing a net income of $22.5 million, a decrease from $32.7 million in the same quarter of the previous year. The diluted earnings per share (EPS) fell to $0.44, down from $0.69 year-over-year. For the first half of 2025, net income totaled $59.3 million, or $1.21 per diluted share, compared to $66.5 million, or $1.40 per diluted share, for the same period in 2024. The decline in profitability was attributed to increased provisions for loan losses and acquisition-related expenses following the merger with Evans Bancorp, which was completed on May 2, 2025.
The company’s total assets increased to $16.0 billion as of June 30, 2025, up from $13.8 billion at the end of 2024, largely due to the acquisition of Evans, which added approximately $2.19 billion in assets. Total loans rose to $11.62 billion, a significant increase from $9.97 billion at the end of 2024, driven by the addition of $1.67 billion in loans from Evans. The allowance for loan losses also increased to $140.2 million, representing 1.21% of total loans, compared to $116.0 million, or 1.16%, at the end of 2024.
In terms of operational metrics, total deposits reached $13.52 billion, up from $11.55 billion at the end of 2024, with $1.86 billion of this increase attributed to deposits acquired from Evans. The company reported a loan-to-deposit ratio of 86.0% as of June 30, 2025. Noninterest income for the quarter was $46.9 million, reflecting an increase of 8.6% from the previous year, driven by growth in card services and retirement plan administration fees.
Looking ahead, NBT Bancorp anticipates continued integration of Evans and expects to realize synergies from the merger. The company is also closely monitoring economic conditions, particularly regarding interest rates and credit quality, as it navigates potential challenges in the banking sector. Management remains focused on maintaining a strong capital position, with stockholders’ equity at $1.81 billion, representing 11.27% of total assets, and plans to manage liquidity effectively in a changing economic environment.
About NBT BANCORP INC
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