NBT Bancorp (NBTB) investor relations material

Executive summary

• Evans Bancorp merger completed, adding 18 branches, $1.67B in loans, $1.86B in deposits, 200 employees, and 5.1M shares issued.

• Net income for Q2 2025 was $22.5M ($0.44 per diluted share), down from Q1 and prior year due to acquisition costs; operating EPS was $0.88, up year-over-year and sequentially.

• Revenues grew 10.5% sequentially and 22% year-over-year, driven by net interest income and Evans merger impact.

• Dividend increased 8.8% to $0.37/share, marking the thirteenth consecutive annual increase.

• Tangible book value per share rose 9% year-over-year to $24.57; tangible equity ratio at 8.30%.

Financial highlights

• Net income for Q2 2025 was $22.5M; operating net income was $44.9M; diluted EPS $0.44; operating EPS $0.88.

• Net interest income was $124.2M–$124.9M, up $17M from Q1 and $27M year-over-year; net interest margin rose to 3.59%, up 15 bps sequentially.

• Noninterest income was $46.8M, 27% of total revenues, up 8% year-over-year but down 1.5% sequentially.

• Total noninterest expense (excluding acquisition costs) was $105.4M, up 6.3% from Q1 and 17.7% year-over-year; total noninterest expense was $122.6M including $17.2M in acquisition expenses.

• Period-end loans were $11.62B, deposits $13.52B; loan to deposit ratio at 86.0%.

Outlook and guidance

• Net interest margin expected to improve in Q3 with full Evans accretion and further asset repricing.

• Loan pipeline at record levels, but growth rate expected to remain steady in the second half due to customer hesitancy.

• Net interest income trajectory will depend on interest rate trends; modest increases projected in rising rate scenarios.

• Enhanced liquidity monitoring remains in place due to sector volatility and elevated rates.

• Positioned for growth in Upstate NY, especially Buffalo and Rochester, following Evans merger.