This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

NBT Bancorp Inc. Announces 2012 Diluted Earnings Per Share Of $1.62 And Organic Loan Growth Of 6.8%; Declares Cash Dividend

Net interest income was up to $52.5 million for the three months ended December 31, 2012, compared with $50.5 million for the three months ended December 31, 2011. The Company's FTE net interest margin was 3.83% for the three months ended December 31, 2012, down from 3.98% for the three months ended December 31, 2011. The increase in average earning assets for the three months ended December 31, 2012 as compared to the same period of 2011 offset the decline in rates, resulting in the increase in net interest income over the same period last year.

While the rate paid on interest bearing liabilities decreased 15 basis points, the yield on interest earning assets declined 28 basis points, resulting in margin compression for the three months ended December 31, 2012, compared to the same period for 2011. The yield on securities available for sale was 2.27% for the three months ended December 31, 2012, as compared with 2.70% for the three months ended December 31, 2011. This decrease was due primarily to the reinvestment of cash flows from maturing securities and cash received from previous branch acquisitions into lower yielding securities in the current rate environment. The average balance of securities available for sale for the three months ended December 31, 2012 was $1.1 billion, down approximately $51.9 million, or 4.4%, from the three months ended December 31, 2011, as cash flows from maturing available for sale securities was used to support the aforementioned loan growth.  The yield on loans was 5.05% for the three months ended December 31, 2012, compared with 5.45% for the three months ended December 31, 2011. The average balance of loans for the three months ended December 31, 2012 was $4.3 billion, up approximately $505.8 million, or 13.5%, from the three months ended December 31, 2011.  The reduction in yields on earning assets was partially offset by a reduction in rates paid on interest bearing liabilities. The rate on time deposits was 1.31% for the three months ended December 31, 2012, compared with 1.72% for the three months ended December 31, 2011. The rate on money market deposit accounts was 0.14% for the three months ended December 31, 2012, compared with 0.24% for the three months ended December 31, 2011.

4 of 8

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 17,678.23 -40.31 -0.23%
S&P 500 2,056.15 -4.90 -0.24%
NASDAQ 4,863.3620 -13.1570 -0.27%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs