- Adjusted non-interest income increased 6% linked quarter, driven by record fee income in wealth management and capital markets excluding CBA.
- Adjusted pretax pre-provision income increased 4% year over year to $830 million.
- Average loans grew modestly, with year-to-date loan commitments increasing by approximately $2 billion.
- Net interest income was relatively stable quarter over quarter, with net interest margin declining six basis points.
- Reported strong quarterly earnings of $548 million, with adjusted earnings of $561 million or $0.63 per share.
- Return on tangible common equity was strong at 19%.
- Top quartile deposit growth and above peer median market share change per FDIC data.
- Total average deposits and accounts grew across consumer checking, small business, and wealth management.
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- Book value per share increased 16% year-to-date, inclusive of dividends, on an 82% combined ratio and double-digit net investment income growth.
- Casualty and Surety segments posted 7% premium growth each, with Casualty combined ratio at 96.5% and Surety at 87.9%.
- Net earnings on a GAAP basis were $1.34 per share versus $0.89 in Q2 2024, influenced by $44 million unrealized equity gains this quarter compared to $4 million last year.
- Operating cash flow for Q2 was $175 million, up $33 million from last year, with a 2.9% total return for the quarter and strong first half performance.
- Property segment premiums declined 10%, influenced by rate decreases in E&S Property, but Marine and Hawaii Homeowners products grew.
- Second quarter operating earnings were $0.84 per share, supported by solid underwriting performance and a 16% increase in investment income.
- The total combined ratio was 84.5%, up from 81.5% last year, reflecting modest increases in loss and expense ratios but still within expectations.
- Adjusted earnings per share reached a record $1.31, up 70% versus Q3 2024.
- Adjusted pretax margins exceeded 51%, reflecting strong expense management and revenue growth.
- Client margin balances hit a record $97.2 billion, up 16% from year-end 2024.
- Net interest revenue increased 37% year-over-year, driven by loan growth and securities lending.
- Pledged Asset Line (PAL) balances grew 37% year-over-year to $23.4 billion.
- Returned $2.7 billion in common stock repurchases during the quarter, totaling $8.5 billion year-to-date.
- Supplemental borrowings reduced by $13 billion in Q3, now at $14.8 billion, 85% below May 2023 peak.
- Third quarter revenue grew 27% year-over-year to a record $6.1 billion.
- NBT Bancorp reported net income of $22.5 million or $0.44 per diluted common share for Q2 2025.
- Net interest margin increased 15 basis points to 3.59%, with net interest income at $124.2 million, up $17 million from the prior quarter.
- Noninterest income, excluding securities gains, was $46.8 million, down 1.5% sequentially but up 8% year-over-year.
- Operating earnings per share, excluding acquisition expenses and related items, were $0.88, up $0.08 from the prior quarter.
- Provision for loan losses was $17.8 million, up from $7.6 million in Q1 2025, driven by $13 million acquisition-related provision and a modest economic forecast deterioration.
- Revenues grew approximately 10.5% from the prior quarter and 22% year-over-year, driven by net interest income improvements and the Evans merger.
- Tangible book value per share was $24.57, 9% higher than a year ago, with a tangible equity ratio above pre-merger levels.
- Total operating expenses, excluding acquisition costs, were $105.4 million, a 6.3% increase from the prior quarter, mainly due to Evans acquisition and merit pay increases.
- A quarterly cash dividend of $0.20 per common share was approved, marking the 114th consecutive quarterly dividend.
- Asset quality remained strong with classified loans decreasing 3% to $145 million or 1.4% of total loans.
- Capital levels remained robust with a common equity Tier 1 capital ratio of 11% and tangible book value per share of $19.34.
- Commercial and industrial loans increased 8% for the quarter.
- Earnings per share were $0.28 on a fully diluted GAAP basis and $0.31 on a core basis for Q2 2025.
- Net charge-offs were $2.2 million, primarily from two commercial credits and a small sale of nonperforming residential loans.
- Net interest income grew by $1 million with net interest margin expanding by 1 basis point.
- Operating expenses were $71 million, in line with expectations and previous guidance.
- The company repurchased 1 million shares at a weighted average cost of $17.17 and redeemed $57 million of preferred stock.
- Total loans increased by $60 million, representing a 2% annualized growth rate, driven by strong originations of $716 million.
- Commercial loan growth was $114 million for the first 6 months of 2025, an annualized rate of 6.2%, despite $154 million in loan reductions primarily from asset sales.
- Deposit base increased 13% year-over-year, reducing the loan-to-deposit ratio from 107% to just under 100%.
- Effective tax rate was reduced to about 13% in Q2 2025 due to acquisition of transferable energy tax credits, lowering federal income tax expense by $1.5 million.
- Mortgage banking income increased 23.4% for the first 6 months of 2025 compared to the same period in 2024.
- Net income for Q2 2025 was $22.6 million or $1.39 per diluted share, up from $18.8 million or $1.17 per diluted share in Q2 2024.
- Net income for the first 6 months of 2025 was $42.2 million or $2.60 per diluted share, compared to $40.3 million or $2.50 per diluted share in the prior year period.
- Net interest income increased by $2.4 million in Q2 and $3.6 million in the first 6 months of 2025 compared to prior year periods.
- Net interest margin declined 14 basis points year-over-year in Q2 2025 but improved sequentially from Q1 2025.
- Noninterest expenses increased due to higher salary, benefits, data processing costs, and new product introductions.
- Provision expense was $1.6 million in Q2 and $3.7 million in the first 6 months, reflecting increased allocations for stressed loans and economic forecast changes.
- Credit quality remained solid with nonaccruing loans at 51 basis points and past due loans at 27 basis points; provision for credit losses was $600,000 and net charge-offs were $647,000.
- In-market deposits increased 1% quarter-over-quarter and 9% year-over-year, while brokered deposits declined $25 million and FHLB borrowings rose $151 million.
- Net income for Q2 2025 was $13.2 million or $0.68 per share, up from $12.2 million and $0.63 per share in Q1 2025.
- Net interest income increased 2% quarter-over-quarter to $37.2 million with a margin of 2.36%, up 7 basis points.
- Noninterest income was $17.1 million, excluding a $7 million sale leaseback gain in Q1, adjusted noninterest income rose 9%.
- Total loans grew by $44 million (1%), with commercial loans up 2% and residential loans down 1%.
- Wealth management revenue increased 2% to $10.1 million, mortgage banking revenue rose 32% to $3 million.
- Blue Foundry Bancorp reported a net loss of $2 million or $0.10 per diluted share for Q2 2025, an improvement of $735,000 from the prior quarter.
- Cost of funds declined by 13 basis points to 2.72%, with deposit costs down 13 basis points to 2.62% and borrowings cost down 9 basis points to 3.30%.
- Deposits increased by $29.1 million or 2%, with core deposits growing approximately 4%, fueled by full banking relationships with commercial customers.
- Gross loans increased by $47.4 million during the quarter, with organic growth in owner-occupied commercial real estate and construction, plus $45 million in credit-enhanced consumer loan purchases.
- Interest income rose by $725,000 primarily due to loan growth, while interest expense declined by $171,000 reflecting lower deposit costs.
- Loan portfolio yield improved by 8 basis points to 4.80%, and total interest-earning assets yield increased by 7 basis points to 4.58%.
- Net interest income increased by $896,000 or 8.3%, driven by a 12 basis point expansion in net interest margin and loan growth.
- Noninterest expense decreased by $90,000 compared to prior quarter, mainly due to seasonal occupancy expense, and is expected to remain in the mid- to high $13 million range.
- Nonperforming assets and loans increased slightly but remain low at 0.30% and 0.38% respectively, with allowance coverage ratios slightly decreased but still strong.
- Provision for credit losses was $463,000, primarily for reserves on unfunded loan commitments scheduled to close in Q3.
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