This Day On The Street
Continue to site
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

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

Noninterest expense for the three months ended December 31, 2012 was $48.6 million, up $1.2 million or 2.5%, for the same period in 2011.  Salaries and employee benefits increased $1.4 million, or 5.4%, for the three months ended December 31, 2012, compared with the same period in 2011. This increase was due primarily to increases in full-time-equivalent employees from acquisitions, merit increases, and increased pension expense. Occupancy expenses for the three months ended December 31, 2012 increased $0.3 million, or 7.5%, over the same period in 2011 primarily due to aforementioned expansion. These increases were partially offset by a decrease in advertising expenses of approximately $0.6 million for the three months ended December 31, 2012 as compared to the same period in 2011, due primarily to expense reduction initiatives. In addition, other operating expenses decreased $0.4 million for the three months ended December 31, 2012 as compared to the same period in 2011, due to various cost cutting initiatives. Income tax expense for the three month period ended December 31, 2012 was $5.8 million, up from $3.9 million for the same period in 2011. The effective tax rate was 30.5% for the three months ended December 31, 2012, compared to 22.22% for the same period in 2011.  The relatively low effective tax rate in 2011 was driven primarily by the aforementioned tax audit settlement. 

Balance Sheet

Total assets were $6.0 billion at December 31, 2012, up $443.9 million or 7.9% from December 31, 2011. Loans were $4.3 billion at December 31, 2012, up $477.4 million from December 31, 2011. Total deposits were $4.8 billion at December 31, 2012, up $417.2 million from December 31, 2011. Stockholders' equity was $582.3 million, representing a total equity-to-total assets ratio of 9.64% at December 31, 2012, compared with $538.1 million or a total equity-to-total assets ratio of 9.61% at December 31, 2011.

7 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
Only $9.95
14-Days Free
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 17,928.20 -142.20 -0.79%
S&P 500 2,089.46 -25.03 -1.18%
NASDAQ 4,939.3270 -77.6020 -1.55%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs