NBT Bancorp Reports Record Quarter

BURLINGTON, Vt. (Oct. 28) NBT Bancorp Inc. reported record financial results for the third quarter of 2026, with net income reaching $58.0 million. The figure translates to $1.11 per diluted common share. This marks an increase from $54.5 million, or $1.03 per share, during the same period in 2025.

The company’s operating diluted earnings per share, a non-GAAP measure, also stood at $1.11 for the quarter. This compares to $1.05 in the third quarter of 2025 and $1.01 in the second quarter of 2026. Scott Kingsley, the bank’s president and CEO, attributed the performance to the firm's diversified business model and disciplined execution.

"Our record third quarter results reflect the strength of our diversified business model and disciplined execution across the company," Kingsley said. He noted that the bank delivered solid loan growth, increased net interest income, and expanded its net interest margin while maintaining strong capital levels.

Total loans at the end of September 30, 2026, reached $11.95 billion, up from $11.60 billion at the end of 2025. This represents a growth of $350.4 million, or 3.0 percent, over the nine-month period. Total deposits stood at $13.59 billion, slightly higher than the $13.50 billion recorded at the end of last year. The loan to deposit ratio increased to 87.9 percent from 85.9 percent in the prior year.

Net interest income for the quarter was $142.1 million, a 3.7 percent increase from the second quarter of 2026. The net interest margin on a fully taxable equivalent basis rose to 3.78 percent, up 5 basis points from the previous quarter. Total noninterest income, excluding securities gains, reached $52.9 million, driven by higher service charges and retirement plan administration fees.

The bank’s board of directors approved a fourth-quarter cash dividend of $0.40 per share. This amount is an 8.1 percent increase over the dividend paid in the third quarter of 2025. The move marks the company's fourteenth consecutive year of annual dividend increases. The payment is scheduled for December 15, 2026, to stockholders of record as of December 1, 2026.

During the third quarter, NBT Bancorp purchased 20,118 shares of its common stock for a total of $1.0 million. The average purchase price was $50.02 per share under the company's existing repurchase program. The bank reported that its tangible book value per share increased to $27.75 at the end of September 2026.