NBT Bancorp (NBTB) investor relations material

Executive summary

• Achieved strong operating performance in Q1 2026, with disciplined balance sheet management, diversified revenue growth, and successful integration of Evans Bancorp, resulting in improved operating leverage and capital flexibility.

• Net income for Q1 2026 was $51.1 million ($0.98 per diluted share), up 39% year-over-year, reflecting margin expansion and the Evans acquisition.

• Revenues increased 18.9% year-over-year, with expenses up 13.7%, generating positive operating leverage.

• Tangible book value per share rose over 9% year-over-year to $27.05.

• Economic activity across the seven-state footprint remains robust, especially in advanced manufacturing, infrastructure, and housing development.

Financial highlights

• Net interest income was $134.9 million, up 25.3% year-over-year, with net interest margin at 3.72%, up 28 bps year-over-year and 7 bps sequentially.

• Noninterest income was $49.7 million, 27% of total revenue, up 4.5% year-over-year, driven by retirement plan administration and wealth management fees.

• Total operating expenses were $112 million, up 0.5% sequentially, with salaries and benefits at $68.8 million.

• Total revenue reached $184 million.

• Tangible book value per share increased 9.3% year-over-year to $27.05.

Outlook and guidance

• Operating expense run rate expected to remain around $112 million in Q2, with annual growth projected at 3–4% for 2026.

• Net interest margin expected to remain stable with potential for slight improvement, depending on yield curve dynamics.

• Loan growth anticipated to return to low- to mid-single-digit percentages for the remainder of the year.

• Fee-based income expected to achieve mid-single-digit growth for the full year, with strongest performance in retirement plan services.

• Balance sheet remains well-positioned with diversified commercial and consumer portfolios.