Acquisition boosts NBT Bank's Q3 results

File Photo / Renee Cordes NBT Bank is at 5 Widgery Wharf in Portland.

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NBT Bancorp Inc. (NASDAQ: NBTB), the parent company of NBT Bank, said its net income for the third quarter of 2025 was a record high at $54.5 million, or $1.03 per diluted common share.

That compares with $38.1 million, or 80 cents per diluted common share, for the third quarter of 2024 and $22.5 million, or 44 cents, for the second quarter of 2025.

The comparisons to the second quarter of 2025 and to the third quarter of 2024 were significantly boosted by the acquisition of Evans Bancorp Inc., according to a news release.

Completed on May 2, the deal added 200 employees and 18 banking locations in western New York, $1.67 billion in loans and $1.86 billion in deposits.

“For the third quarter of 2025, we achieved record net income and earnings per share, and we reported a return on average assets of 1.35% and a return on average tangible common equity of 17.35%,” said Scott Kingsley, NBT’s president and CEO.

“These results reflect productive growth in earning assets, deposits and our sixth consecutive quarter of net interest margin improvement, including a full quarter of our merger with Evans Bancorp Inc. completed in May.”

The report showed the company increased its dividend for the 13th consecutive year. The latest quarterly cash dividend for shareholders of 37 cents per share represented an increase of 8.8% over the previous year.

Headquartered in Norwich, N.Y., NBT has been in Maine since 2014 and has its Maine regional headquarters at 5 Widgery Wharf in Portland.

The company had total assets of $16.11 billion at Sept. 30.