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NBT Q1 Profit Declines, Yet Beats View By A Penny

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4/23/2012 7:39 PM ET

NBT Bancorp Inc. (NBTB: Quote), a financial holding company, Monday said its first-quarter profit declined 5 percent to $13.7 million from $14.3 million in the year-ago quarter. On a per share basis, earnings were $0.41, flat with last year.

On average, four analysts polled by Thomson Reuters expected the company to earn $0.40 per share for the first quarter. Analysts' estimates typically exclude special items.

Net-interest income increased slightly to $49.4 million from $49.3 million last year. Non-interest income for the period was $23.1 million, up 14.6 percent from $20.1 million last year.

Net-interest margin was 3.90 percent, down 21 basis points from 4.11 percent last year.

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by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

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Editors Pick
Data-storage products maker NetApp Inc. said Tuesday after the markets closed that its fourth quarter profit fell 4% from last year, hurt mainly by higher operating expenses even as revenue grew slightly. However, the company's quarterly earnings per share, excluding items, came in above analysts' expectations, but its quarterly revenue fell short of analysts' forecast. Analog Devices, Inc. said that its second quarter profit rose slightly from last year, helped mainly by lower income tax expenses even as revenue declined 2%. The company's quarterly earnings per share, excluding items, came in line with analysts' expectations. However, the company forecast third quarter revenue and earnings below analysts' current consensus estimates. While buying interest was relatively subdued, stocks moved modestly higher over the course of the trading day on Tuesday. The strength on the day offset the weakness seen in the previous session, with the Dow and the S&P 500 reaching new record closing highs. The major averages gave back some ground in late-day trading but remained in positive territory.
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