NBT Bancorp, Inc. Declares 2016 First-Quarter Cash Dividend, Payable on March 15, 2016; Reports Un-Audited Consolidated Earnings Results for the Fourth Quarter and Year Ended December 31, 2015; Net Charge-Offs for the Fourth Quarter of 2015
January 25, 2016 at 09:15 pm
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NBT Bancorp, Inc. announced that the Board of Directors declared a 2016 first-quarter cash dividend of $0.22 per share at a meeting held on January 25, 2016. The dividend will be paid on March 15, 2016 to shareholders of record as of March 1, 2016.
The company reported un-audited consolidated earnings results for the fourth quarter and year ended December 31, 2015. For the quarter, the company reported net income of $19.1 million, up from $18.5 million for the same period last year. Diluted earnings per share was $0.43, up from $0.42 for the same period last year. Net interest income was $63.5 million, down $0.7 million from the previous quarter, and down $0.5 million from $64.0 million reported in the fourth quarter of 2014. The company reported total interest, fee and dividend income of $68.8 million compared to $69.4 million, income before income taxes of $29.6 million compared to $27.4 million, return on average assets of 0.93% compared to 0.94% and return on average equity of 8.58% compared to 8.46% for the last year.
For the year, the company reported net income of $76.4 million, up from $75.1 million from the prior year. Earnings per diluted share for the year ended December 31, 2015 was $1.72, up from $1.69 for the prior year. Net interest income was $252.6 million in 2015, up $0.7 million from $251.9 million reported in 2014. The company reported total interest, fee and dividend income of $273.2 million compared to $275.1 million, income before income taxes of $116.6 million compared to $112.3 million, return on average assets of 0.96% compared to 0.97% and return on average equity of 8.70% compared to 8.84% for the last year. Book value per share as at December 31, 2015 was $20.31 compared to $19.69 per share as at December 31, 2014.
Net charge-offs were $7.6 million for the three months ended December 31, 2015, up from $5.1 million for the
prior quarter, and down from $9.9 million for the fourth quarter of 2014.
NBT Bancorp Inc. is a financial holding company. The Company primarily operates through NBT Bank, N.A. (the Bank), a full-service community bank, and through two financial services companies. The Bank provides a range of financial products to individuals, corporations and municipalities throughout upstate New York, northeastern Pennsylvania, southern New Hampshire, western Massachusetts, Vermont, southern Maine and central and northwestern Connecticut. Through its network of branch locations, the Bank offers a range of products and services tailored to individuals, businesses and municipalities. Deposit products offered by the Bank include demand deposit accounts, savings accounts, negotiable order of withdrawal (NOW) accounts, and certificate of deposit (CD) accounts. It operates EPIC Advisors, Inc., which is a national benefits administration firm. It operates NBT Insurance Agency, LLC, which is a full-service insurance agency. The Bank has approximately 153 branch locations.
NBT Bancorp, Inc. Declares 2016 First-Quarter Cash Dividend, Payable on March 15, 2016; Reports Un-Audited Consolidated Earnings Results for the Fourth Quarter and Year Ended December 31, 2015; Net Charge-Offs for the Fourth Quarter of 2015