logo
Share SHARE
FONT-SIZE Plus   Neg

NBT Q1 Profit Declines, Yet Beats View By A Penny

NBT Bancorp Inc. (NBTB), 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.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
British lender Lloyds Banking Group Plc. Friday reported higher profit in its first half, benefited by increased net interest income and margin as well as lower impairment. Looking ahead, the company lifted its net interest margin forecast. Amgen reported an increase in second-quarter profit, driven by sales of arthritis drug Enbrel and osteoporosis treatments Xgeva and Prolia, and improved margins. Both earnings and sales topped Wall Street estimates. Electronic Arts Inc. (EA) on Thursday reported an increase in profit for the first quarter, reflecting continued strong digital revenues, with both earnings and revenues topping Wall Street estimates. However, shares of the company fell over 4 percent, after having detailed a weak outlook. Redwood...
comments powered by Disqus
Follow RTT