NBT Bancorp Inc<\/b>. reported core net
\nincome for the three months ended March 31
\nwas $14.3 million, up 8.5 percent from $13.2
\nmillion for the same period in 2012. Core diluted
\nearnings per share for the three months
\nwas $0.39, equivalent to the same period last
\nyear, according to company officials.<\/p>\n
Core annualized return on average assets
\nand return on average equity were 0.90 percent
\nand 9.01 percent, respectively, for the first
\nquarter of 2013, compared with 0.94 percent
\nand 9.76 percent, respectively, for the three
\nmonths ended March 31, 2012.<\/p>\n
Company officials said reported results from
\nthe first quarter of 2013 include the impact
\nof the acquisition of Alliance Financial Corp.
\nsince March 8, including approximately $10.7
\nmillion in merger-related expenses.<\/p>\n
Reported net income for the quarter was $7.6 million, down from $13.7 million for the same period in 2012, officials said.<\/p>\n
The company said highlights for the first quarter of 2013 include completing the acquisition of Alliance on March 8, a $1.4 billion financial holding company headquartered in Syracuse; net interest income up 5.6 percent from the first quarter of 2012; non-interest income was up 9.4 percent compared to the first quarter of 2012; insurance and financial services revenue was up 12 percent over last year; and trust revenue up 36.8 percent over last year.<\/p>\n","protected":false},"excerpt":{"rendered":"
NBT Bancorp Inc. reported core net income for the three months ended March 31 was $14.3 million, up 8.5 percent from $13.2 million for the same period in 2012. Core diluted earnings per share for the three months was…<\/p>\n","protected":false},"author":121,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"class_list":["post-12431","post","type-post","status-publish","format-standard","hentry","category-business-briefs"],"yoast_head":"\r\n