NBT Bancorp, Inc. announces second quarter earnings
NORWICH – NBT Bancorp, Inc. has reported that net income for the three months ending June 30, 2010 was $14.4 million, up 24.8 percent from the same quarter last year. Net income per diluted share rose from $0.34 to $ 0.42 for the second quarter from the same period in 2009.
“We are very pleased with our financial performance during the second quarter of 2010. Especially encouraging is our nearly 25% gain in net income from the same quarter last year,” reported NBT President and CEO Martin Dietrich in a statement issued Monday. “We are also encouraged by the continuing improvement in our asset quality.”
NBT’s total assets were $5.4 billion as of June 30, down $48.9 million from December 31, 2009. Loans and leases account for $3.6 billion of total assets, up $2 million from Dec. 31.
At a meeting held on Monday, the NBT Board of Directors declared a third quarter cash dividend of $0.20 per share. According to the press statement, the dividend will be paid on September 15 to shareholders of record as of Sept. 1, 2010.
“While the economy remains challenging, we believe we are well positioned in terms of our performance and strategic investments for future growth,” Dietrich stated.
“We are very pleased with our financial performance during the second quarter of 2010. Especially encouraging is our nearly 25% gain in net income from the same quarter last year,” reported NBT President and CEO Martin Dietrich in a statement issued Monday. “We are also encouraged by the continuing improvement in our asset quality.”
NBT’s total assets were $5.4 billion as of June 30, down $48.9 million from December 31, 2009. Loans and leases account for $3.6 billion of total assets, up $2 million from Dec. 31.
At a meeting held on Monday, the NBT Board of Directors declared a third quarter cash dividend of $0.20 per share. According to the press statement, the dividend will be paid on September 15 to shareholders of record as of Sept. 1, 2010.
“While the economy remains challenging, we believe we are well positioned in terms of our performance and strategic investments for future growth,” Dietrich stated.
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