NORWICH – NBT Bancorp Inc. reported today that its net income for 2006 was $55.9 million, up $3.5 million from the net income for 2005. The increase in net income was primarily the result of a $5.7 million increase in net interest income and a $6.1 million increase in non-interest income.

“While 2006 presented some unique challenges due to the higher interest rate environment, as well as the record flooding that impacted many of our customers and the communities we serve,” said NBT President and CEO Martin Dietrich. “We can look back on the year and be proud of our accomplishments in the face of adversity.”

The NBT Board of Directors also declared a fourth-quarter cash dividend of $0.19 per share at Monday’s meeting. The dividend will be paid March 15, to shareholders of record as of March 1.