Every material Form 8-K NBT Bancorp filed with the SEC in 2024, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
NBT Bancorp reported third quarter 2024 net income of $38.1 million, or $0.80 per diluted share, up from $24.6 million, or $0.54 per share, a year earlier and $0.69 in the second quarter of 2024. The company also declared a fourth-quarter cash dividend of $0.34 per share, a 6.3% increase, and said its pending merger with Evans Bancorp is expected to close in the second quarter of 2025.
Q3 2024 net income was $38.1 million, or $0.80 per diluted share, versus $24.6 million, or $0.54, in Q3 2023
Operating diluted EPS was $0.80 in Q3 2024, compared with $0.84 in Q3 2023, a non-GAAP measure
Net interest income was $101.7 million, up 4.6% from Q2 2024 and 7.1% from Q3 2023; net interest margin was 3.27%
Quarterly cash dividend of $0.34 per share is payable December 16, 2024 to holders of record as of December 2, 2024
NBT Bancorp and its subsidiary bank signed a merger agreement to acquire Evans Bancorp, Inc., the holding company of Evans Bank, N.A. in Western New York. The companies value the transaction at about $236 million based on NBT's $46.28 closing price on September 6, 2024, and the deal is expected to close in the second quarter of 2025 after Evans shareholder and regulatory approvals. The filing lists the possible dilution from issuing additional NBT shares as a risk, so NBT shareholders would own a smaller share of the combined company.
Each Evans common share converts into the right to receive 0.91 shares of NBT common stock
Aggregate transaction value of about $236 million, based on NBT's $46.28 closing price on September 6, 2024
Evans had $2.26 billion in assets as of June 30, 2024, and 18 locations in the Buffalo and Rochester markets
Expected close in the second quarter of 2025; Evans may owe NBT an $8.4 million termination fee in certain circumstances
NBT Bancorp reported second quarter 2024 net income of $32.7 million, up from $30.1 million a year earlier, but diluted earnings per share were $0.69 versus $0.70. Net interest income rose 9.1% from a year earlier, while noninterest expense also climbed to $89.6 million from $78.8 million. The board approved a third-quarter cash dividend of $0.34 per share, a 6.3% increase that shareholders will receive on September 13, 2024.
Net income of $32.7 million vs. $30.1 million in Q2 2023; diluted EPS $0.69 vs. $0.70 a year earlier and $0.71 in Q1 2024
Operating diluted EPS (non-GAAP) of $0.69 vs. $0.80 in Q2 2023 and $0.68 in Q1 2024
Net interest income of $97.2 million, up 9.1% from Q2 2023; noninterest expense of $89.6 million vs. $78.8 million
Quarterly dividend raised to $0.34 per share, a 6.3% increase; payable September 13, 2024 to holders of record as of August 30, 2024
NBT Bancorp completed its leadership transition on May 21, 2024, with Scott A. Kingsley succeeding John H. Watt, Jr. as President and Chief Executive Officer. The company also signed new employment agreements with Kingsley, Annette L. Burns (Chief Financial Officer) and Joseph R. Stagliano, and said Watt will retire on January 31, 2025. The filing also reports shareholder approval of directors, pay and a 2024 incentive plan, and a second-quarter dividend of $0.32 per share.
Kingsley became President and CEO on May 21, 2024; he was also elected to the Board, and Watt moves to an advisory role until he retires on January 31, 2025
Kingsley's annual base salary is $800,000; Burns's is $400,000; Stagliano's is $530,000
Shareholders approved the 2024 Omnibus Incentive Plan and the advisory vote on executive pay at the May 21, 2024 Annual Meeting
Board approved a second-quarter cash dividend of $0.32 per share, payable June 17, 2024 to holders of record on June 3, 2024
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.
Only material 8-Ks get a brief: results, deals, executive changes, restructuring, impairments, delisting notices, restatements, cybersecurity incidents and other disclosed events. Routine filings (vote results, exhibits only) are skipped. Every NBT Bancorp filing is on SEC EDGAR ↗. 8-K briefs of other companies →