NBT Bancorp Q1 Income Climbs to $51.1M as NIM Rises 7 bps
NBT Bancorp's Q1 net income rose to $51.1 million, or $0.98 per diluted share, from $36.7 million, or $0.77 a year earlier, as net interest margin expanded by 7 bps to 3.72%. Deposits climbed to $13.74 billion and operating EPS reached $0.97, reflecting strength from the Evans acquisition.
1. Q1 Financial Results
NBT Bancorp reported net income of $51.1 million for Q1 2026, generating $0.98 in diluted earnings per share and $0.97 in operating EPS. These results compare with $36.7 million in net income and $0.80 in operating EPS for Q1 2025, and $1.06 in diluted EPS in Q4 2025.
2. Net Interest and Fees
Net interest income totaled $134.3 million, up 25.3% year-over-year, while net interest margin expanded by 7 basis points to 3.72%. Noninterest income accounted for 27% of total revenues and was bolstered by higher retirement plan administration fees.
3. Asset Quality and Capital
Nonperforming loans were 0.53% of total loans and net charge-offs were 0.17% annualized. The allowance for loan losses stood at 1.20% of loans. Tangible book value per share reached $27.05, with a CET1 ratio of 12.34% and a leverage ratio of 9.70%.
4. Evans Acquisition Impact
The May 2025 acquisition of Evans Bancorp added 18 branches, 200 employees, $1.67 billion in loans and $1.86 billion in deposits. The Company issued 5.1 million shares of common stock valued at $221.8 million at closing.