NBT Bancorp’s third quarter saw a positive market response, reflecting revenue growth and earnings that surpassed Wall Street expectations. Management attributed these results to continued net interest margin expansion, disciplined funding cost management, and the full-quarter impact of the Evans Bancorp merger. CEO Scott Kingsley pointed to “productive asset repricing trends, the diversification of our revenue streams, prudent balance sheet growth, and the additive impact of our merger with Evans Bancorp” as key contributors, while also highlighting solid growth in noninterest income and robust performance by nonbanking businesses.

Is now the time to buy NBTB? Find out in our full research report (it’s free for active Edge members).

While we enjoy listening to the management's commentary, our favorite part of earnings calls are the analyst questions. Those are unscripted and can often highlight topics that management teams would rather avoid or topics where the answer is complicated. Here is what has caught our attention.

Our Top 5 Analyst Questions From NBT Bancorp’s Q3 Earnings Call

• Feddie Strickland (Hovde Group LLC) asked about expense run rates following the Evans integration. CFO Annette Burns replied that cost savings are largely achieved, and future expenses will follow historical growth with merit increases and technology spending.
• Stephen Moss (Raymond James) inquired about branch expansion and talent recruitment strategy. CEO Scott Kingsley explained plans for 4 to 6 new branches annually, emphasizing market concentration improvements and selective hires in growth regions.
• Mark Fitzgibbon (Piper Sandler) questioned the ability to accelerate the exit of solar loans. Kingsley responded that selling these loans now would require accepting losses due to below-market yields, so runoff will continue at a measured pace.
• Matthew Breese (Stephens Inc.) asked about loan repricing and securities yield improvement. Burns noted commercial loan origination rates are above portfolio yields, while residential mortgage yields have more room to rise as older loans roll off.
• David Konrad (KBW) sought clarity on fee income sustainability, especially in insurance. Burns and Kingsley confirmed third quarter strength is partly seasonal, with mid-to-high single-digit growth expected in 2026, and a typical fourth quarter seasonal decline.

Catalysts in Upcoming Quarters

In coming quarters, StockStory analysts will be monitoring (1) margin trends as interest rates fluctuate and deposit costs adjust, (2) the pace and profitability of new branch openings and market entries, and (3) the company’s ability to sustain noninterest income growth amid seasonal and macroeconomic headwinds. Additional attention will be paid to potential M&A activity and capital deployment, which could further reshape the balance sheet.

NBT Bancorp currently trades at $40.47, in line with $40.80 just before the earnings. Is there an opportunity in the stock?The answer lies in our full research report (it’s free for active Edge members).

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