Overview

* NBT Bancorp ( NBTB ) Q2 net income falls to $22.5 mln, down from $32.7 mln last year

* Operating EPS for Q2 rises 28% yr/yr to $0.88, driven by Evans acquisition

* Company acquired Evans Bancorp, adding $1.67 bln in loans, $1.86 bln in deposits

Result Drivers

* EVANS ACQUISITION - Acquisition added $1.67 bln in loans and $1.86 bln in deposits, boosting operating EPS

* NET INTEREST MARGIN - Improved due to higher earning asset yields and acquisition-related net accretion

* LOAN LOSS PROVISION - Increased provision for loan losses due to acquisition-related factors and economic forecast deterioration

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q2 EPS $0.44

Q2 Net $22.50

Income mln

Q2 Net $124.20

Interest mln

Income

Q2 Net 3.6%

Interest

Margin

Q2 Net -$13 mln

Loan

Losses

Analyst Coverage

* The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 3 "strong buy" or "buy", 4 "hold" and no "sell" or "strong sell"

* The average consensus recommendation for the banks peer group is "buy"

* Wall Street's median 12-month price target for NBT Bancorp Inc ( NBTB ) is $50.00, about 17.2% above its July 25 closing price of $41.38

* The stock recently traded at 11 times the next 12-month earnings vs. a P/E of 12 three months ago

Press Release:

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)