Docoh
Loading...

NBTB NBT Bancorp.

NBT Bancorp Inc. is a financial holding company headquartered in Norwich, N.Y., with total assets of $9.7 billion at December 31, 2019. The Company primarily operates through NBT Bank, N.A., a full-service community bank and through two financial services companies. NBT Bank, N.A. has 146 banking locations in New York, Pennsylvania, Vermont, Massachusetts, New Hampshire and Maine. EPIC Retirement Plan Services, based in Rochester, N.Y., is a full-service 401(k) plan recordkeeping firm. NBT Insurance Agency, LLC, based in Norwich, N.Y., is a full-service insurance agency.

Company profile

Ticker
NBTB
Exchange
Website
CEO
John H. Watt
Employees
Incorporated
Location
Fiscal year end
Industry (SIC)
SEC CIK
IRS number
161268674

NBTB stock data

(
)

Calendar

6 May 21
2 Aug 21
31 Dec 21
Quarter (USD)
Mar 21 Dec 20 Sep 20 Jun 20
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD)
Dec 20 Dec 19 Dec 18 Dec 17
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Financial data from company earnings reports.

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
30 Jul 21 Watt John H JR NBT Bancorp Inc. Common Stock Discretionary Aquire I Yes No 35.1964 5,682 199.99K 5,682
29 Jul 21 Scott Allen Kingsley NBT Bancorp Inc. Common Stock Buy Aquire P No No 35.1361 4,235 148.8K 9,235
28 Jul 21 Scott Allen Kingsley NBT Bancorp Inc. Common Stock Buy Aquire P No No 34.2654 1,500 51.4K 5,000
22 Jun 21 Kowalczyk Andrew S III Phantom Stock NBT Bancorp Inc. Common Stock Grant Aquire A No No 37.737 43 1.62K 2,575
28 May 21 Kowalczyk Andrew S III Phantom Stock NBT Bancorp Inc. Common Stock Grant Aquire A No No 39.4038 304 11.98K 2,532

Data for the last complete 13F reporting period. To see the most recent changes to ownership, click the ownership history button above.

55.0% owned by funds/institutions
13F holders
Current Prev Q Change
Total holders 157 164 -4.3%
Opened positions 14 34 -58.8%
Closed positions 21 16 +31.3%
Increased positions 50 42 +19.0%
Reduced positions 56 53 +5.7%
13F shares
Current Prev Q Change
Total value 1.81B 1.9B -4.3%
Total shares 23.88M 24.2M -1.3%
Total puts 0 0
Total calls 25.6K 12.1K +111.6%
Total put/call ratio
Largest owners
Shares Value Change
BLK Blackrock 6.43M $256.5M +3.0%
Vanguard 4.67M $186.36M +4.3%
Dimensional Fund Advisors 1.87M $74.79M -4.5%
STT State Street 1.72M $68.57M +15.3%
MCQEF Macquarie 916.65K $36.57M -2.1%
NTRS Northern Trust 773.31K $30.85M -27.3%
Geode Capital Management 716.84K $28.6M +6.2%
BK Bank Of New York Mellon 611.26K $24.39M -0.0%
IVZ Invesco 420.95K $16.8M -11.3%
Charles Schwab Investment Management 379.72K $15.15M +2.9%
Largest transactions
Shares Bought/sold Change
Norges Bank 0 -303.79K EXIT
NTRS Northern Trust 773.31K -291.07K -27.3%
STT State Street 1.72M +227.77K +15.3%
Vanguard 4.67M +190.69K +4.3%
BLK Blackrock 6.43M +188.14K +3.0%
GS Goldman Sachs 199.7K +152.12K +319.7%
Manufacturers Life Insurance Company, The 266.08K +124.48K +87.9%
DB Deutsche Bank AG - Registered Shares 68.27K -99.21K -59.2%
Renaissance Technologies 22.21K -89.4K -80.1%
Dimensional Fund Advisors 1.87M -88.78K -4.5%

Financial report summary

?
Risks
  • Risks Related to our Business and Industry
  • Deterioration in local economic conditions may negatively impact our financial performance.
  • Variations in interest rates could adversely affect our results of operations and financial condition.
  • Our lending, and particularly our emphasis on commercial lending, exposes us to the risk of losses upon borrower default.
  • Our allowance for loan losses may not be sufficient to cover actual loan losses, which could have a material adverse effect on our business, financial condition and results of operations.
  • Strong competition within our industry and market area could adversely affect our performance and slow our growth.
  • The Company is subject to liquidity risk, which could adversely affect net interest income and earnings.
  • Our ability to service our debt, pay dividends and otherwise pay our obligations as they come due is substantially dependent on capital distributions from our subsidiaries.
  • A reduction in the Company’s credit rating could adversely affect our business and/or the holders of our securities.
  • The Company relies on third parties to provide key components of its business infrastructure.
  • The possibility of the economy’s return to recessionary conditions and the possibility of further turmoil or volatility in the financial markets would likely have an adverse effect on our business, financial position and results of operations.
  • We are subject to other-than-temporary impairment risk, which could negatively impact our financial performance.
  • There are substantial risks and uncertainties associated with the introduction or expansion of lines of business or new products and services within existing lines of business.
  • Risks Related to Legal, Governmental and Regulatory Changes
  • We are subject to extensive government regulation and supervision, which may interfere with our ability to conduct our business and may negatively impact our financial results.
  • We are subject to heightened regulatory requirements because we now exceed $10 billion in total consolidated assets.
  • Replacement of the LIBOR benchmark interest rate could adversely affect our business, financial condition, and results of operations.
  • Our controls and procedures may fail or be circumvented, which may result in a material adverse effect on our business.
  • We may be held responsible for environmental liabilities with respect to properties to which we obtain title, resulting in significant financial loss.
  • We may be adversely affected by the soundness of other financial institutions including the FHLB of New York.
  • Provisions of our certificate of incorporation and bylaws, as well as Delaware law and certain banking laws, could delay or prevent a takeover of us by a third party.
  • Risks Related to Cybersecurity and Data Privacy
  • The Company faces operational risks and cybersecurity risks associated with incidents which have the potential to disrupt our operations, cause material harm to our financial condition, result in misappropriation of assets, compromise confidential information and/or damage our business relationships and cannot guarantee that the steps we and our service providers take in response to these risks will be effective.
  • The Company may be adversely affected by fraud.
  • We continually encounter technological change and the failure to understand and adapt to these changes could have a material adverse impact our business.
  • Risks Related to an Investment in the Company’s Securities
  • The Company’s common stock price may fluctuate significantly.
  • There may be future sales or other dilution of the Company’s equity, which may adversely affect the market price of the Company’s stock.
  • The risks presented by acquisitions could adversely affect our financial condition and results of operations.
  • We rely on our management and other key personnel, and the loss of any of them may adversely affect our operations.
Management Discussion
  • The Company reported net income of $39.8 million for the three months ended March 31, 2021, up $5.7 million from the fourth quarter of 2020 and up $29.5 million from the first quarter of 2020. Diluted earnings per share for the three months ended March 31, 2021 was $0.91, as compared with $0.78 for the prior quarter, and $0.23 for the first quarter of 2020. Net interest income was $79.1 million for the three months ended March 31, 2021, down $1.1 million, or 1.3%, from the fourth quarter of 2020 and up $1.9 million or 2.4% from the first quarter of 2020. The fully taxable equivalent (“FTE”) net interest margin (annualized) for the first quarter of 2021 was 3.17%, down 3 basis points (“bps”) from the fourth quarter of 2020 and down 35 bps from the first quarter of 2020. Average interest earning assets were up $155.5 million, or 1.6%, from the prior quarter and grew $1.3 billion, or 14.4%, from the first quarter of 2020. The provision for loan losses totaled ($2.8) million for the three months ended March 31, 2021, as compared with ($0.6) million in the fourth quarter of 2020 and $29.6 million in the first quarter of 2020. Return on average assets (annualized) was 1.46% for the three months ended March 31, 2021 as compared to 1.24% for the prior quarter and 0.43% for the same period last year. Return on average equity (annualized) was 13.57% for the three months ended March 31, 2021 as compared to 11.59% for the prior quarter and 3.69% for the three months ended March 31, 2020. Return on average tangible common equity (annualized) was 18.24% for the three months ended March 31, 2021 as compared to 15.71% for the prior quarter and 5.24% for the three months ended March 31, 2020.
Content analysis
?
Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability
H.S. sophomore Avg
New words: agent, ago, bilateral, CAA, case, Chicago, clear, cleared, clearing, CME, Codification, CPA, daily, deployment, distribution, diverse, encumbered, epidemiological, exhausted, Facility, focused, functional, gather, granular, herd, house, immunity, infrastructure, legacy, legislation, legislative, London, manifested, master, Mercantile, mobile, nimble, nominal, nontransferability, output, partnership, path, platform, portal, post, posted, potency, prepandemic, renaming, resurgence, settle, settlement, show, showed, speed, steadily, summer, teller, vaccine, variation, viability
Removed: add, added, aforementioned, appraised, assessed, auto, automation, beginning, behavior, capitalize, charged, Citigroup, Cloud, codified, collected, collective, Computing, confirmed, construction, continued, crediting, curtailment, CUSIP, cycle, de, decline, dedicated, deducted, deemed, delinquency, delinquent, dental, detailed, deviate, disaggregation, discretion, disease, dwelling, earlier, econometric, education, electronic, employer, energy, environmental, establish, estimation, executed, exempt, expanded, expectation, explanation, explicitly, externally, failure, FDIC, fed, FICO, fifteen, framework, geographical, geography, governance, hazard, hosting, implicitly, inaccuracy, incomplete, Index, indirect, inherent, insignificant, installment, insufficient, intent, Interagency, Japanese, lessor, Leveraged, LGD, lien, lifetime, location, lowered, Main, materiality, media, mentioned, met, minimal, Moody, multiple, narrative, negative, newly, onboarding, open, originate, PD, PDR, peaking, perfected, perishable, personal, pooled, postretirement, Prime, probabilistically, production, project, prospectively, prudently, rarity, rebound, redefined, regression, remove, removed, renewal, replaced, repurchased, requirement, retrospective, retrospectively, returned, reversal, reversing, revert, revised, robotic, rollforward, score, segmentation, selection, separately, serve, simplified, site, Software, solar, specialty, sponsor, Street, substantive, Subtopic, successful, supplemented, suspended, systematic, target, tied, title, titled, tuition, unique, unsecured, Update, utilize, validation, verification, volatile, Welfare, whichever, wider, write, written