Exhibit 99.1

NBT BANCORP INC. ANNOUNCES FULL YEAR 2025 RESULTS AND DECLARES CASH DIVIDEND

NORWICH, NY (January 26, 2026) – NBT Bancorp Inc. (“NBT” or the “Company”) (NASDAQ: NBTB) reported net income and diluted earnings per share for the three and twelve months ended December 31, 2025.

 

Net income for the fourth quarter of 2025 was $55.5 million, or $1.06 per diluted common share, compared to $36.0 million, or $0.76 per diluted common share, for the fourth quarter of 2024, and $54.5 million, or $1.03 per diluted common share, for the third quarter of 2025. Operating diluted earnings per share(1), a non-GAAP measure, was $1.05 for the fourth quarter of 2025, compared to $0.77 for the fourth quarter of 2024 and $1.05 for the third quarter of 2025.

 

Net income for the year ended December 31, 2025 was $169.2 million, or $3.33 per diluted common share, compared to $140.6 million, or $2.97 per diluted common share, in the prior year.

 

The Company completed the acquisition of Evans Bancorp, Inc. (“Evans”) on May 2, 2025, adding 200 employees and 18 banking locations in Western New York, $1.67 billion in loans and $1.86 billion in deposits. In connection with the transaction, the Company issued 5.1 million shares of common stock, with a value of $221.8 million as of the closing date. The comparison to the fourth quarter of 2024 is significantly impacted by the Evans acquisition.

 

CEO Comments

“For the fourth quarter of 2025, we delivered another strong period of performance, generating operating earnings per share of $1.05 and reported return on average assets of 1.37%. We posted a solid return on average tangible common equity of 17.05% and achieved meaningful positive operating leverage,” said NBT President and CEO Scott Kingsley. “By virtually all measures, 2025 was a successful year with strong execution by team members across the company resulting in record net revenues. We achieved a seamless integration with our Evans merger in May, adding a significant presence in the Western Region of New York along with 200 talented professionals. We also raised our dividend to shareholders by 8.8%, marking our thirteenth consecutive year of dividend increases. We are grateful for the collaborative and diligent work of our team members that consistently strengthens our company and enhances the value we deliver to our customers, communities and shareholders.”

Net Income	■	Net income was $55.5 million and diluted earnings per share was $1.06
	■	Operating net income was $55.4 million and operating diluted earnings per share was $1.05(1)
Net Interest Income / NIM	■	Net interest income on a fully taxable equivalent (“FTE”) basis was $136.0 million, an increase of $0.8 million from the prior quarter(1)
	■	Net interest margin (“NIM”) on an FTE basis was 3.65%(1), a decrease of 1 basis point (“bp”) from the prior quarter
	■	Earning asset yields of 5.08% were down 10 bps from the prior quarter
	■	Total cost of funds of 1.51% was down 9 bps from the prior quarter
	■	Included in FTE net interest income was $7.4 million of acquisition-related net accretion
Noninterest Income	■	Noninterest income was $49.6 million, or 27% of total revenues, excluding net securities gains (losses)
Loans and Credit Quality	■	Period end loans increased $1.63 billion, or 16.3% from December 31, 2024
	■	Net charge-offs to average loans was 0.16% annualized
	■	Nonperforming loans to total loans was 0.45%
	■	Allowance for loan losses to total loans was 1.19%
	■	Provision for loan losses was $3.8 million
Deposits	■	Deposits increased $1.95 billion, or 16.9%, from December 31, 2024
	■	Total cost of deposits was 1.44% for the fourth quarter of 2025, down 8 bps from the third quarter of 2025
Capital	■	Stockholders’ equity was $1.90 billion as of December 31, 2025
	■	Tangible book value per share(2) was $26.54 at December 31, 2025 an increase of 266 bps from December 31, 2024
	■	Tangible equity to assets of 8.95%(1)
	■	CET1 ratio of 12.07%; Leverage ratio of 9.48%

Loans

Deposits

Net Interest Income and Net Interest Margin

Asset Quality and Allowance for Loan Losses

Noninterest Income

Noninterest Expense

Income Taxes

Capital

Dividend

Stock Repurchase

Conference Call and Webcast

The Company will host a conference call at 10:00 a.m. (Eastern) Tuesday, January 27, 2026, to review the fourth quarter 2025 financial results. The audio webcast link, along with the corresponding presentation slides, will be available on the Company’s Event Calendar page at www.nbtbancorp.com/bn/presentations-events.html#events and will be archived for twelve months.

 

Corporate Overview

 

NBT Bancorp Inc. is a financial holding company headquartered in Norwich, NY, with total assets of $16.00 billion at December 31, 2025. 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 176 banking locations in New York, Pennsylvania, Vermont, Massachusetts, New Hampshire, Maine and Connecticut. EPIC Retirement Plan Services, based in Rochester, NY, is a national benefits administration firm. NBT Insurance Agency, LLC, based in Norwich, NY, is a full-service regional insurance agency. More information about NBT and its divisions is available online at: www.nbtbancorp.com, www.nbtbank.com, www.epicrps.com and www.nbtbank.com/Insurance.

Forward-Looking Statements

 

This press release contains forward-looking statements, as defined in the Private Securities Litigation Reform Act of 1995. These statements may be identified by the use of phrases such as “anticipate,” “believe,” “expect,” “forecasts,” “projects,” “will,” “can,” “would,” “should,” “could,” “may,” or other similar terms. There are a number of factors, many of which are beyond the Company’s control, that could cause actual results to differ materially from those contemplated by the forward-looking statements. Factors that may cause actual results to differ materially from those contemplated by such forward-looking statements include, among others, the following possibilities: (1) local, regional, national and international economic conditions, including actual or potential stress in the banking industry, and the impact they may have on the Company and its customers, and the Company’s assessment of that impact; (2) changes in the level of nonperforming assets and charge-offs; (3) changes in estimates of future reserve requirements based upon the periodic review thereof under relevant regulatory and accounting requirements; (4) the effects of and changes in trade and monetary and fiscal policies and laws, including the interest rate policies of the Federal Reserve Board (“FRB”) and international trade disputes (including threatened or implemented tariffs imposed by the U.S. and threatened or implemented tariffs imposed by foreign countries in retaliation); (5) inflation, interest rate, securities market and monetary fluctuations; (6) political instability; (7) acts of war, including international military conflicts, or terrorism; (8) the timely development and acceptance of new products and services and the perceived overall value of these products and services by users; (9) changes in consumer spending, borrowing and saving habits; (10) changes in the financial performance and/or condition of the Company’s borrowers; (11) technological changes; (12) acquisition and integration of acquired businesses; (13) the ability to increase market share and control expenses; (14) changes in the competitive environment among financial holding companies; (15) the effect of changes in laws and regulations (including laws and regulations concerning taxes, banking, securities and insurance) with which the Company and its subsidiaries must comply, including those under the Dodd-Frank Act, and the Economic Growth, Regulatory Relief, and Consumer Protection Act of 2018; (16) the effect of changes in accounting policies and practices, as may be adopted by the regulatory agencies, as well as the Public Company Accounting Oversight Board, the Financial Accounting Standards Board and other accounting standard setters; (17) changes in the Company’s organization, compensation and benefit plans; (18) the costs and effects of legal and regulatory developments, including the resolution of legal proceedings or regulatory or other governmental inquiries, and the results of regulatory examinations or reviews; (19) greater than expected costs or difficulties related to the integration of new products and lines of business; and (20) the Company’s success at managing the risks involved in the foregoing items.

The Company cautions readers not to place undue reliance on any forward-looking statements, which speak only as of the date made, and advises readers that various factors, including, but not limited to, those described above and other factors discussed in the Company’s annual and quarterly reports previously filed with the SEC, could affect the Company’s financial performance and could cause the Company’s actual results or circumstances for future periods to differ materially from those anticipated or projected.

Unless required by law, the Company does not undertake, and specifically disclaims any obligations to, publicly release any revisions that may be made to any forward-looking statements to reflect the occurrence of anticipated or unanticipated events or circumstances after the date of such statements.

Non-GAAP Measures

 

This press release contains financial information determined by methods other than in accordance with U.S. generally accepted accounting principles (“GAAP”). Where non-GAAP disclosures are used in this press release, the comparable GAAP measure, as well as a reconciliation to the comparable GAAP measure, is provided in the accompanying tables. Management believes that these non-GAAP measures provide useful information that is important to an understanding of the results of the Company’s core business as well as provide information standard in the financial institution industry. Non-GAAP measures should not be considered a substitute for financial measures determined in accordance with GAAP and investors should consider the Company’s performance and financial condition as reported under GAAP and all other relevant information when assessing the performance or financial condition of the Company. Amounts previously reported in the consolidated financial statements are reclassified whenever necessary to conform to current period presentation.

NBT Bancorp Inc. and Subsidiaries
Selected Financial Data
(unaudited, dollars in thousands except per share data)
		2025																2024
		4th Q				3rd Q				2nd Q				1st Q				4th Q
Profitability (reported)
Diluted earnings per share		$	1.06			$	1.03			$	0.44			$	0.77			$	0.76
Weighted average diluted common shares outstanding			52,524,388				52,642,688				50,787,474				47,477,391				47,505,760
Return on average assets(3)			1.37	%			1.35	%			0.59	%			1.08	%			1.04	%
Return on average equity(3)			11.81	%			11.86	%			5.27	%			9.68	%			9.44	%
Return on average tangible common equity(1)(3)			17.05	%			17.35	%			8.01	%			13.63	%			13.36	%
Net interest margin(1)(3)			3.65	%			3.66	%			3.59	%			3.44	%			3.34	%
		12 Months Ended December 31,
		2025				2024
Profitability (reported)
Diluted earnings per share		$	3.33			$	2.97
Weighted average diluted common shares outstanding			50,875,220				47,433,174
Return on average assets			1.11	%			1.04	%
Return on average equity			9.75	%			9.57	%
Return on average tangible common equity(1)			14.14	%			13.75	%
Net interest margin(1)			3.59	%			3.23	%
		2025																2024
		4th Q				3rd Q				2nd Q				1st Q				4th Q
Profitability (operating)
Diluted earnings per share(1)		$	1.05			$	1.05			$	0.88			$	0.80			$	0.77
Return on average assets(1)(3)			1.37	%			1.37	%			1.19	%			1.11	%			1.06	%
Return on average equity(1)(3)			11.79	%			12.05	%			10.52	%			9.95	%			9.60	%
Return on average tangible common equity(1)(3)			17.02	%			17.61	%			15.25	%			13.99	%			13.57	%
		12 Months Ended December 31,
		2025				2024
Profitability (operating)
Diluted earnings per share(1)		$	3.82			$	2.94
Return on average assets(1)			1.27	%			1.03	%
Return on average equity(1)			11.21	%			9.51	%
Return on average tangible common equity(1)			16.15	%			13.66	%
		2025																2024
		4th Q				3rd Q				2nd Q				1st Q				4th Q
Balance sheet data
Short-term interest-bearing accounts		$	301,958			$	394,485			$	276,786			$	37,385			$	78,973
Securities available for sale			1,862,838				1,813,194				1,729,428				1,704,677				1,574,664
Securities held to maturity			762,756				771,474				809,664				836,833				842,921
Net loans			11,460,114				11,456,134				11,484,480				9,863,267				9,853,910
Total assets			15,995,121				16,112,584				16,014,781				13,864,251				13,786,666
Total deposits			13,499,193				13,660,918				13,515,232				11,708,511				11,546,761
Total borrowings			327,422				319,358				411,376				312,977				414,983
Total liabilities			14,098,905				14,259,438				14,209,615				12,298,476				12,260,525
Stockholders’ equity			1,896,216				1,853,146				1,805,166				1,565,775				1,526,141
Capital
Equity to assets			11.85	%			11.50	%			11.27	%			11.29	%			11.07	%
Tangible equity ratio(1)			8.95	%			8.58	%			8.30	%			8.68	%			8.42	%
Book value per share		$	36.32			$	35.33			$	34.46			$	33.13			$	32.34
Tangible book value per share(2)		$	26.54			$	25.51			$	24.57			$	24.74			$	23.88
Leverage ratio			9.48	%			9.34	%			9.55	%			10.39	%			10.24	%
Common equity tier 1 capital ratio			12.07	%			11.80	%			11.37	%			12.12	%			11.93	%
Tier 1 capital ratio			12.07	%			11.80	%			11.37	%			13.02	%			12.83	%
Total risk-based capital ratio			14.24	%			13.97	%			14.48	%			15.24	%			15.03	%
Common stock price (end of period)		$	41.52			$	41.76			$	41.55			$	42.90			$	47.76