NBT Bancorp Inc. (NBTB) 10-Year Financial Performance & Capital Metrics

NBTB • • Banking & Credit

Financial ServicesRegional BanksCommunity & Regional Retail BankingNortheast Community Banks

AboutNBT Bancorp Inc., a financial holding company, provides commercial banking, retail banking, and wealth management services. Its deposit products include demand deposit, savings, negotiable order of withdrawal, money market deposit, and certificate of deposit accounts. The company's loan portfolio comprises commercial and industrial, commercial real estate, agricultural, and commercial construction loans; indirect and direct consumer, home equity, mortgages, business banking loans, and commercial loans; and residential real estate loans. It also provides trust and investment services; financial planning and life insurance services; and retirement plan consulting and recordkeeping services. In addition, the company offers insurance products comprising personal property and casualty, business liability, and commercial insurance, as well as other products and services through 24-hour online, mobile, and telephone channels that enable customers to check balances, make deposits, transfer funds, pay bills, access statements, apply for loans, and access various other products and services. As of December 31, 2021, it had 140 branches and 164 ATMs in New York, Pennsylvania, Vermont, Massachusetts, New Hampshire, Connecticut, and Maine. NBT Bancorp Inc. was founded in 1856 and is headquartered in Norwich, New York.Show more

Net Interest Income $400M +5.8%
Total Revenue $786M +18.7%
Net Income $141M +18.4%
Return on Equity 9.53% +4.3%
Net Interest Margin 2.9% +2.1%
Efficiency Ratio 47.76% -6.7%
ROA 1.04% +9.5%
Equity / Assets 11.07% +3.3%
Book Value per Share 32.17 +1.0%
Tangible BV/Share 23.76 +4.0%
Debt/Equity 0.27 -39.2%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Efficient operations: 47.8% efficiency ratio
✓11 consecutive years of dividend growth
✓Well capitalized: 11.1% equity/assets
✓Healthy dividend yield of 3.0%
✓Trading at only 1.4x book value

✗Weaknesses

No significant weaknesses identified

Price & Volume

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Growth Metrics

Revenue CAGR

10Y7.58%

5Y9.15%

3Y16.68%

TTM-

Profit (Net Income) CAGR

10Y6.48%

5Y3.05%

3Y-3.16%

TTM10.84%

EPS CAGR

10Y5.76%

5Y1.56%

3Y-5.79%

TTM11.62%

ROCE

10Y Avg10.13%

5Y Avg9.9%

3Y Avg9.72%

Latest8.91%

Peer Comparison

Northeast Community Banks

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
DCOMDime Community Bancshares, Inc.	1.37B	31.13	56.60	0.1%	4.5%	4.02%	6.79%	0.70
EBCEastern Bankshares, Inc.	4.4B	19.56	29.64	91.64%	11.17%	1.3%	6.14%	0.01
LYGLloyds Banking Group plc	80.5B	5.48	21.92	10.79%	11.75%	9.93%		1.76
CFGCitizens Financial Group, Inc.	26.03B	60.61	20.00	1.31%	12.22%	6.6%	7.22%	0.51
PFSProvident Financial Services, Inc.	2.65B	20.29	19.32	63.91%	10.13%	7.51%	16.04%	0.93
CBUCommunity Bank System, Inc.	3.3B	62.73	18.24	24.44%	19.4%	10.34%	6.71%	0.57
VLYValley National Bancorp	6.7B	12.02	17.42	6.51%	10.65%	6.53%	8.18%	0.50
INDBIndependent Bank Corp.	3.8B	76.62	16.95	6.89%	19.72%	7.76%	5.51%	0.23

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Net Interest Income+	252.61M	264.44M	283.49M	305.63M	311.56M	315.68M	321.09M	362.19M	378.22M	400.12M
NII Growth %	0%	0.05%	0.07%	0.08%	0.02%	0.01%	0.02%	0.13%	0.04%	0.06%
Net Interest Margin %	-	-	-	-	-	-	-	-	-	-
Interest Income	273.22M	286.95M	309.41M	344.25M	367.53M	348.28M	339.88M	384.07M	522.79M	611.67M
Interest Expense	20.62M	22.51M	25.91M	38.63M	55.98M	32.6M	18.79M	21.88M	144.57M	211.55M
Loan Loss Provision	18.29M	25.43M	30.99M	28.83M	25.41M	51.13M	-8.26M	17.15M	25.27M	19.61M
Non-Interest Income+	111.68M	112.25M	115.72M	120.55M	139.87M	142.98M	154.88M	152.93M	139.56M	174.32M
Non-Interest Income %	-	-	-	-	-	-	-	-	-	-
Total Revenue+	384.91M	399.2M	425.13M	464.8M	507.4M	491.26M	494.75M	537M	662.35M	785.99M
Revenue Growth %	0.02%	0.04%	0.06%	0.09%	0.09%	-0.03%	0.01%	0.09%	0.23%	0.19%
Non-Interest Expense	229.38M	232.46M	240.07M	260.34M	270.58M	274.44M	284.37M	301.82M	339.05M	375.38M
Efficiency Ratio	-	-	-	-	-	-	-	-	-	-
Operating Income+	116.63M	118.8M	128.16M	137M	155.43M	133.09M	199.86M	196.16M	153.46M	179.46M
Operating Margin %	-	-	-	-	-	-	-	-	-	-
Operating Income Growth %	0.04%	0.02%	0.08%	0.07%	0.13%	-0.14%	0.5%	-0.02%	-0.22%	0.17%
Pretax Income+	116.63M	118.8M	128.16M	137M	155.43M	133.09M	199.86M	196.16M	153.46M	179.46M
Pretax Margin %	-	-	-	-	-	-	-	-	-	-
Income Tax+	40.2M	40.39M	46.01M	24.44M	34.41M	28.7M	44.97M	44.16M	34.68M	38.82M
Effective Tax Rate %	-	-	-	-	-	-	-	-	-	-
Net Income+	76.42M	78.41M	82.15M	112.57M	121.02M	104.39M	154.88M	152M	118.78M	140.64M
Net Margin %	-	-	-	-	-	-	-	-	-	-
Net Income Growth %	0.02%	0.03%	0.05%	0.37%	0.08%	-0.14%	0.48%	-0.02%	-0.22%	0.18%
Net Income (Continuing)	76.42M	78.41M	82.15M	112.57M	121.02M	104.39M	154.88M	152M	118.78M	140.64M
EPS (Diluted)+	1.72	1.80	1.87	2.56	2.74	2.37	3.54	3.52	2.65	2.96
EPS Growth %	0.02%	0.05%	0.04%	0.37%	0.07%	-0.14%	0.49%	-0.01%	-0.25%	0.12%
EPS (Basic)	1.74	1.81	1.89	2.58	2.76	2.39	3.57	3.54	2.67	2.98
Diluted Shares Outstanding	44.39M	43.62M	43.91M	44.02M	44.12M	43.99M	43.72M	43.18M	44.77M	47.43M

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash & Short Term Investments+	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Cash & Due from Banks	140.3M	149.18M	159.66M	180.96M	216.84M	672.68M	1.27B	197.35M	205.19M	284.06M
Short Term Investments	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Total Investments+	7.47B	8B	8.26B	8.63B	8.71B	9.39B	9.86B	10.53B	11.91B	12.32B
Investments Growth %	0.07%	0.07%	0.03%	0.05%	0.01%	0.08%	0.05%	0.07%	0.13%	0.03%
Long-Term Investments	6.29B	6.66B	7B	7.63B	7.73B	8.04B	8.17B	9B	10.48B	12.19B
Accounts Receivables	0	0	0	0	0	0	0	0	0	0
Goodwill & Intangibles+	-	-	-	-	-	-	-	-	-	-
Goodwill	265.96M	265.44M	268.04M	274.77M	274.77M	280.54M	280.54M	281.2M	361.85M	362.66M
Intangible Assets	17.27M	15.81M	13.42M	15.6M	12.02M	11.73M	8.93M	7.34M	40.44M	36.36M
PP&E (Net)	88.83M	84.19M	81.31M	78.97M	75.63M	74.21M	72.09M	69.05M	80.67M	80.84M
Other Assets	284.61M	353.55M	359.11M	378.77M	428.61M	507.74M	520.07M	656.92M	707.48M	699.14M
Total Current Assets	1.31B	1.49B	1.42B	1.18B	1.19B	2.02B	2.96B	1.72B	1.64B	420.42M
Total Non-Current Assets	6.95B	7.38B	7.72B	8.38B	8.52B	8.91B	9.06B	10.01B	11.67B	13.37B
Total Assets+	8.26B	8.87B	9.14B	9.56B	9.72B	10.93B	12.01B	11.74B	13.31B	13.79B
Asset Growth %	0.06%	0.07%	0.03%	0.05%	0.02%	0.13%	0.1%	-0.02%	0.13%	0.04%
Return on Assets (ROA)	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%
Accounts Payable	0	0	0	0	0	0	0	0	0	0
Total Debt+	674.12M	886.99M	909.19M	1.05B	820.68M	406.73M	311.48M	787.95M	637.39M	414.98M
Net Debt	533.83M	737.8M	749.52M	865.66M	603.84M	-265.95M	-957.6M	590.6M	432.2M	130.93M
Long-Term Debt	231.64M	205.28M	190.06M	174.92M	165.41M	238.34M	213.68M	202.94M	250.74M	252.04M
Short-Term Debt	442.48M	681.7M	719.12M	871.7M	655.27M	168.39M	97.8M	585.01M	386.65M	162.94M
Other Liabilities	101.67M	93.28M	98.81M	123.63M	187.03M	256.87M	215.71M	281.86M	276.97M	298.78M
Total Current Liabilities	7.05B	7.66B	7.89B	8.24B	8.24B	9.25B	10.33B	10.08B	11.36B	11.71B
Total Non-Current Liabilities	333.32M	298.56M	288.88M	298.55M	352.43M	495.21M	429.39M	484.8M	527.7M	550.82M
Total Liabilities	7.38B	7.95B	8.18B	8.54B	8.6B	9.75B	10.76B	10.57B	11.88B	12.26B
Total Equity+	882M	913.32M	958.18M	1.02B	1.12B	1.19B	1.25B	1.17B	1.43B	1.53B
Equity Growth %	0.02%	0.04%	0.05%	0.06%	0.1%	0.06%	0.05%	-0.06%	0.21%	0.07%
Equity / Assets (Capital Ratio)	-	-	-	-	-	-	-	-	-	-
Return on Equity (ROE)	0.09%	0.09%	0.09%	0.11%	0.11%	0.09%	0.13%	0.13%	0.09%	0.1%
Book Value per Share	19.87	20.94	21.82	23.12	25.39	27.00	28.60	27.18	31.84	32.17
Tangible BV per Share	-	-	-	-	-	-	-	-	-	-
Common Stock	497K	497K	497K	497K	497K	497K	497K	497K	540K	540K
Additional Paid-in Capital	576.73M	575.08M	574.21M	575.47M	576.71M	578.08M	576.98M	577.85M	740.94M	742.81M
Retained Earnings	462.23M	501.76M	543.71M	621.2M	696.21M	749.06M	856.2M	958.43M	1.02B	1.1B
Accumulated OCI	-22.42M	-21.52M	-22.08M	-43.17M	-19.03M	417K	-23.34M	-190.03M	-160.93M	-142.1M
Treasury Stock	-135.03M	-142.5M	-138.16M	-136.08M	-134M	-140.43M	-159.88M	-173.19M	-176.69M	-175.32M
Preferred Stock	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	124.54M	109.51M	136.9M	147.77M	153.46M	145.27M	159.19M	183.22M	157.46M	188.57M
Operating CF Growth %	0.42%	-0.12%	0.25%	0.08%	0.04%	-0.05%	0.1%	0.15%	-0.14%	0.2%
Net Income	76.42M	78.41M	82.15M	112.57M	121.02M	104.39M	154.88M	152M	118.78M	140.64M
Depreciation & Amortization	13.51M	12.95M	13.02M	13.32M	20.32M	20.55M	12.7M	19.06M	22.27M	27.5M
Deferred Taxes	0	0	4.41M	0	0	0	0	-19.85M	5.96M	8.73M
Other Non-Cash Items	9.86M	23.05M	26.29M	27.5M	14.69M	62.82M	-837K	15.55M	33.25M	4.96M
Working Capital Changes	20.62M	-8.22M	7.4M	-9.55M	-6.77M	-47.07M	-11.98M	11.93M	-27.91M	748K
Cash from Investing+	-504M	-629.96M	-305.19M	-417.62M	-64.34M	-712.59M	-547.61M	-926.22M	-44.23M	-399.16M
Purchase of Investments	-576.53M	-754.85M	-294.51M	-533.05M	-323.72M	-920.88M	-1.07B	-630.6M	-88.03M	-376.24M
Sale/Maturity of Investments	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Net Investment Activity	-	-	-	-	-	-	-	-	-	-
Acquisitions	-3.1M	-2M	-4M	-7.88M	0	-6.76M	-1.55M	-2.62M	44.56M	-1.38M
Other Investing	-313.96M	-393.95M	-410.73M	-334.1M	-261.46M	-359.33M	-41.35M	-677.26M	-333.49M	-324.28M
Cash from Financing+	373.12M	529.33M	178.77M	291.14M	-53.23M	1.02B	984.81M	-328.73M	-105.39M	289.46M
Dividends Paid	-38.15M	-38.88M	-40.1M	-43.27M	-46.01M	-47.21M	-47.74M	-49.77M	-55.89M	-62.26M
Share Repurchases	-26.8M	-17.19M	0	0	0	-7.98M	-21.71M	-14.71M	-4.94M	-251K
Stock Issued	0	0	3.31M	1.3M	725K	0	0	0	0	0
Net Stock Activity	-	-	-	-	-	-	-	-	-	-
Debt Issuance (Net)	1000K	1000K	1000K	1000K	-1000K	-1000K	-1000K	1000K	-1000K	-1000K
Other Financing	312.89M	372.55M	193.37M	195.68M	217.99M	1.49B	1.15B	-740.29M	162.3M	575.84M
Net Change in Cash+	-6.34M	8.88M	10.48M	21.29M	35.89M	455.84M	596.39M	-1.07B	7.84M	78.87M
Exchange Rate Effect	0	0	0	0	0	0	0	0	0	0
Cash at Beginning	146.64M	140.3M	149.18M	159.66M	180.96M	216.84M	672.68M	1.27B	197.35M	205.19M
Cash at End	140.3M	149.18M	159.66M	180.96M	216.84M	672.68M	1.27B	197.35M	205.19M	284.06M
Interest Paid	20.91M	22.47M	25.89M	36.69M	55.91M	31.69M	20.29M	20.61M	130.18M	215.15M
Income Taxes Paid	28.68M	40.88M	33.67M	31.9M	28.37M	45.79M	46.1M	62.8M	27.64M	23.32M
Free Cash Flow+	116.35M	106.2M	130.21M	140.37M	146.82M	137.12M	151.44M	176.21M	148.2M	176.82M
FCF Growth %	0.48%	-0.09%	0.23%	0.08%	0.05%	-0.07%	0.1%	0.16%	-0.16%	0.19%

Banking Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	8.75%	8.73%	8.78%	11.39%	11.32%	9.05%	12.71%	12.54%	9.14%	9.53%
Return on Assets (ROA)	0.95%	0.92%	0.91%	1.2%	1.26%	1.01%	1.35%	1.28%	0.95%	1.04%
Net Interest Margin	3.06%	2.98%	3.1%	3.2%	3.21%	2.89%	2.67%	3.09%	2.84%	2.9%
Efficiency Ratio	59.59%	58.23%	56.47%	56.01%	53.33%	55.86%	57.48%	56.2%	51.19%	47.76%
Equity / Assets	10.67%	10.3%	10.49%	10.65%	11.53%	10.86%	10.41%	10%	10.71%	11.07%
Book Value / Share	19.87	20.94	21.82	23.12	25.39	27	28.6	27.18	31.84	32.17
NII Growth	0.29%	4.68%	7.2%	7.81%	1.94%	1.32%	1.71%	12.8%	4.43%	5.79%
Dividend Payout	49.92%	49.59%	48.82%	38.44%	38.02%	45.22%	30.82%	32.74%	47.05%	44.27%

Revenue by Segment

	2018	2019	2020	2021	2022	2023	2024
Insurance Revenue	-	-	14.76M	14.08M	14.7M	15.67M	17.03M
Insurance Revenue Growth	-	-	-	-4.57%	4.35%	6.61%	8.71%
Insurance and Other Financial Services Revenue	24.34M	25.01M	-	-	-	-	-
Insurance and Other Financial Services Revenue Growth	-	2.72%	-	-	-	-	-

Frequently Asked Questions

Valuation & Price

NBT Bancorp Inc. (NBTB) has a price-to-earnings (P/E) ratio of 14.8x. This may indicate the stock is undervalued or faces growth challenges.

Growth & Financials

NBT Bancorp Inc. (NBTB) grew revenue by 18.7% over the past year. This is strong growth.

Yes, NBT Bancorp Inc. (NBTB) is profitable, generating $149.7M in net income for fiscal year 2024 (17.9% net margin).

Dividend & Returns

Yes, NBT Bancorp Inc. (NBTB) pays a dividend with a yield of 3.00%. This makes it attractive for income-focused investors.

NBT Bancorp Inc. (NBTB) has a return on equity (ROE) of 9.5%. This is below average, suggesting room for improvement.

Industry Metrics

NBT Bancorp Inc. (NBTB) has a net interest margin (NIM) of 2.9%. NIM has been under pressure due to interest rate environment.

NBT Bancorp Inc. (NBTB) has an efficiency ratio of 47.8%. This is excellent, indicating strong cost control.

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