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NBT Bancorp Announces Quarterly Earnings of $13.5 Million

10/24/05
Declares Cash Dividend

NORWICH, NY--(MARKET WIRE)--Oct 24, 2005 -- NBT Bancorp Inc. (NBT) (NasdaqNM: NBTB) reported today that net income for the quarter ended September 30, 2005, was $13.5 million, or $0.41 per diluted share, up 8% on a per share basis from $12.6 million, or $0.38 per diluted share for the same period a year ago. Return on average assets and return on average equity were 1.23% and 16.06%, respectively, for the quarter ended September 30, 2005, compared with 1.20% and 15.94%, respectively, for the same period in 2004. The increase in net income for the quarter ended September 30, 2005, was primarily the result of a $1.9 million increase in net interest income that was partially offset by a $1.3 million increase in noninterest expense.

Net income for the nine months ended September 30, 2005, was $39.4 million, or $1.20 per diluted share, up 5% on a per share basis compared with $37.6 million or $1.14 per diluted share for the first nine months of 2004. Return on average assets and return on average equity were 1.23% and 16.03%, respectively, for the nine months ended September 30, 2005, compared with 1.23% and 15.91%, respectively, for the same period in 2004. The increase in net income for the nine months ended September 30, 2005, was primarily the result of a $6.3 million increase in net interest income and a $1.6 million increase in noninterest income that was partially offset by an increase in noninterest expense of $5.8 million.

NBT Chairman and CEO Daryl R. Forsythe stated, "We are pleased to announce this continued positive trend in earnings. The third quarter marked another period of solid deposit and noninterest income growth, combined with strong asset quality. Our consistent and solid financial results continues to reflect the excellent customer service provided by our employees."

Loan and Lease Quality and Provision for Loan and Lease Losses

Nonperforming loans at September 30, 2005, were $13.3 million or 0.44% of total loans and leases compared with $16.0 million or 0.57% of total loans and leases at September 30, 2004, and $16.2 million or 0.56% of total loans and leases at December 31, 2004. The Company's allowance for loan and lease losses was 1.58% of loans and leases at September 30, 2005, compared with 1.58% at September 30, 2004, and 1.57% at December 31, 2004. The ratio of the allowance for loan and lease losses to nonperforming loans was 356.85% at September 30, 2005, compared with 278.98% at September 30, 2004, and 277.75% at December 31, 2004. Annualized net charge-offs to average loans and leases for the nine months ended September 30, 2005, were 0.19%, compared with the 0.25% annualized ratio for the nine months ended September 30, 2004, and the ratio for the year ended December 31, 2004, of 0.27%. For the quarter and nine months ended September 30, 2005, the provision for loan and lease losses totaled $2.8 million and $6.9 million, respectively, compared with the $2.3 million and $6.9 million for the same periods in 2004.

Net Interest Income

Net interest income was up 5% to $40.0 million for the quarter ended September 30, 2005, compared to $38.1 million for the same period a year ago. The increase in net interest income was attributable to 5% growth in average earning assets as the Company's net interest margin remained unchanged at 3.99% for the quarters ended September 30, 2005, and 2004. Martin Dietrich, NBT President commented, "Despite several increases in the federal funds rate and the flattening yield curve, the Company was able to maintain a stable net interest margin during the first nine months of 2005. The Company has shortened the duration of its investment portfolio, sold long-term fixed-rate residential real estate mortgages, generated strong noninterest bearing demand deposit growth, and effectively managed borrowing costs." Net interest income for the nine months ended September 30, 2005, increased 6%, to $118.1 million from $111.8 million in the same period for 2004. The increase in net interest income was attributable to 5% growth in average earning assets for the period and to a slight increase in the Company's net interest margin, which was 4.04% for the nine months ended September 30, 2005, compared with 4.03% for the same period in 2004. Dietrich added, "We believe the margin could decrease slightly in the fourth quarter, depending on further increases in the federal funds rate and on the pricing influence of competitive market rates paid on interest-bearing deposits."

Noninterest Income

Noninterest income for the quarter ended September 30, 2005, was $10.4 million, up $0.2 million from $10.1 million for the same period in 2004. Excluding net securities losses of $0.7 million during the quarter ended September 30, 2005, total noninterest income increased $1.0 million or 10% from the same period in 2004. Net securities losses of $0.7 million resulted from the sale of $25 million in securities available for sale to improve investment portfolio yield going forward. Retirement plan administration fees were $1.2 million. This is a new service from the acquisition of EPIC Advisors, Inc. in January 2005. Other income increased $0.5 million from increases in consumer and commercial banking fees, mortgage banking income and title insurance revenue. Offsetting these increases was a $1.1 million decrease in broker/dealer and insurance revenue due to the sale of the Company's broker/dealer subsidiary M. Griffith Inc. in March 2005.

Noninterest income for the nine months ended September 30, 2005, was $32.1 million, up $1.6 million from $30.5 million for the same period in 2004. Excluding net securities losses of $0.7 million during the nine months ended September 30, 2005, total noninterest income increased $2.3 million or 7% from the same period in 2004. Retirement plan administration fees totaled $3.2 million, from the previously mentioned acquisition of EPIC Advisors, Inc. in January 2005. ATM and debit card fees increased $0.4 million compared with the same period a year ago, due to growth from transaction deposit accounts, which has led to an increase in the Company's debit card base. Other income increased $0.7 million from increases in consumer and commercial banking fees, mortgage banking income and title insurance revenue. Offsetting these increases was a $2.6 million decrease in broker/dealer and insurance revenue due to the previously mentioned sale of the Company's broker/dealer subsidiary M. Griffith Inc. in March 2005.

Noninterest Expense and Income Tax Expense

Noninterest expense for the quarter ended September 30, 2005, was $28.6 million, up $1.3 million from $27.3 million for the same period in 2004. Salaries and employee benefits for the quarter ended September 30, 2005, increased $1.8 million over the same period in 2004. This increase resulted mainly from higher pension costs, salaries from merit and staffing increases and a charge for a $0.6 million bonus for certain non-executive employees. Income tax expense for the quarter ended September 30, 2005, was $5.4 million, down $0.5 million from the $5.9 million recorded during the same period in 2004. The effective rate for the quarter ended September 30, 2005, was 28.7%, down from 32.0% for the same period in 2004. The decrease in tax expense and the effective tax rate for the quarter ended September 30, 2005, was due to the reversal of a previously accrued $0.7 million liability that was determined to no longer be required.

Noninterest expense for the nine months ended September 30, 2005, was $86.2 million, up $5.8 million from $80.4 million for the same period in 2004. The increase in noninterest expense was driven by increases in salaries and employee benefits and equipment expense. Salaries and employee benefits increased $5.2 million, mainly from increases in salary expense driven by merit and staffing increases, higher pension costs and the previously mentioned $0.6 million charge related to a bonus for certain non-executive employees. Equipment expense increased $0.4 million, principally from ATM and technology upgrades.

Balance Sheet

Total assets were $4.4 billion at September 30, 2005, up $0.2 billion from $4.2 billion at September 30, 2004. Loans and leases increased $0.2 billion or 7% from $2.8 billion at September 30, 2004, to $3.0 billion at September 30, 2005. Loan growth was fueled by solid production from consumer and commercial loan products. Total deposits were $3.2 billion at September 30, 2005, up 4% from the same period at September 30, 2004. Noninterest bearing demand deposit accounts are up $0.1 billion or 15% at September 30, 2005, compared with the same period in 2004. Stockholders' equity was $332.2 million representing a total-equity-to-total-assets ratio of 7.57% at September 30, 2005 compared with $325.4 million or a total-equity-to-total-assets ratio of 7.75% at September 30, 2004. Under previously announced stock repurchase plans, the Company acquired 868,743 shares of its common stock at an average price of $23.01 per share, totaling $20.0 million for the nine months ended September 30, 2005. At September 30, 2005, there were 627,622 shares available for repurchase under previously announced plans.

Dividend Declared

The NBT Board of Directors declared a fourth-quarter cash dividend of $0.19 per share at a meeting held today. The dividend will be paid on December 15, 2005, to shareholders of record as of December 1, 2005.

Corporate Overview

NBT is a financial services holding company headquartered in Norwich, NY, with total assets of $4.4 billion at September 30, 2005. The Company primarily operates through NBT Bank, N.A., a full-service community bank with two divisions and through a financial services company. NBT Bank, N.A. has 113 locations, including 74 NBT Bank offices in upstate New York and 39 Pennstar Bank offices in northeastern Pennsylvania. EPIC Advisors, Inc., based in Rochester, NY, is a full-service 401(k) plan recordkeeping firm. In June 2005, NBT announced that it had agreed to acquire CNB Bancorp, Inc. (CNB), which has total assets of approximately $400 million, and is headquartered in Gloversville, NY. The merger is subject to regulatory and CNB shareholder approvals. More information about NBT and its divisions can be found on the Internet at www.nbtbancorp.com, www.nbtbank.com, www.pennstarbank.com and www.epic1st.com.

Forward-Looking Statements

This news release contains forward-looking statements. These forward-looking statements involve risks and uncertainties and are based on the beliefs and assumptions of the management of NBT Bancorp and its subsidiaries and on the information available to management at the time that these statements were made. There are a number of factors, many of which are beyond NBT's control, that could cause actual conditions, events or results to differ significantly from those described in the forward-looking statements. Factors that may cause actual results to differ materially from those contemplated by such forward-looking statements include, among others, the following possibilities: (1) competitive pressures among depository and other financial institutions may increase significantly; (2) revenues may be lower than expected; (3) changes in the interest rate environment may reduce interest margins; (4) general economic conditions, either nationally or regionally, may be less favorable than expected, resulting in, among other things, a deterioration in credit quality and/or a reduced demand for credit; (5) legislative or regulatory changes, including changes in accounting standards and tax laws, may adversely affect the businesses in which NBT is engaged; (6) competitors may have greater financial resources and develop products that enable such competitors to compete more successfully than NBT; (7) the costs that will be incurred from the CNB acquisition and the risk of not obtaining regulatory or CNB shareholder approval; and (8) adverse changes may occur in the securities markets or with respect to inflation. Forward-looking statements speak only as of the date they are made. Except as required by law, NBT does not undertake to update forward-looking statements to reflect subsequent circumstances or events.


NBT Bancorp Inc.
                       SELECTED FINANCIAL HIGHLIGHTS
                                (unaudited)
                                                        Net       Percent
                               2005        2004       Change      Change
                           ----------- ----------- ----------- -----------
(dollars in thousands, except share and per share data)

Three Months Ended
 September 30,
Net Income                 $    13,526 $    12,617 $       909           7%
Diluted Earnings Per Share $      0.41 $      0.38 $      0.03           8%
Weighted Average Diluted
 Common Shares Outstanding  32,729,000  32,935,584    (206,584)         -1%
Return on Average Assets          1.23%       1.20%       0.03%          3%
Return on Average Equity         16.06%      15.94%       0.12%          1%
Net Interest Margin               3.99%       3.99%       0.00%          0%
                           ----------- ----------- ----------- -----------

Nine Months Ended
 September 30,
Net Income                 $    39,443 $    37,556 $     1,887           5%
Diluted Earnings Per Share $      1.20 $      1.14 $      0.06           5%
Weighted Average Diluted
 Common Shares Outstanding  32,762,417  33,063,675    (301,258)         -1%
Return on Average Assets          1.23%       1.23%       0.00%          0%
Return on Average Equity         16.03%      15.91%       0.12%          1%
Net Interest Margin               4.04%       4.03%       0.01%          0%
                           ----------- ----------- ----------- -----------


Asset Quality                Sept 30,    Dec 31,     Sept 30,
                               2005        2004        2004
                           ----------- ----------- -----------
Nonaccrual Loans           $    12,412 $    14,991 $    14,618
90 Days Past Due and Still
 Accruing                          913       1,186       1,347
Total Nonperforming Loans       13,325      16,177      15,965
Other Real Estate Owned
 (OREO)                            235         428         446
Total Nonperforming Assets      13,560      16,605      16,411
Allowance for Loan and
 Lease Losses                   47,550      44,932      44,539
Year-to-Date (YTD) Net
 Charge-Offs                     4,250       7,334       4,977
Allowance to Loans and
 Leases                           1.58%       1.57%       1.58%
Total Nonperforming Loans
 to Loans and Leases              0.44%       0.56%       0.57%
Total Nonperforming
 Assets to Assets                 0.31%       0.39%       0.39%
Allowance to Nonperforming
 Loans                          356.85%     277.75%     278.98%
Annualized Net Charge-Offs
 to YTD Average Loans and
 Leases                           0.19%       0.27%       0.25%
                           ----------- ----------- -----------

Capital
Equity to Assets                  7.57%       7.89%       7.75%
Book Value Per Share       $     10.25 $     10.11 $      9.93
Tangible Book Value Per
 Share                     $      8.66 $      8.66 $      8.42
Tier 1 Leverage Ratio             6.99%       7.13%       6.96%
Tier 1 Capital Ratio              9.56%       9.78%       9.61%
Total Risk-Based Capital
 Ratio                           10.82%      11.04%      10.86%
                           ----------- ----------- -----------


Quarterly Common Stock Price       2005            2004           2003
Quarter End                   High     Low    High     Low   High     Low
                             ------  ------  ------  ------ ------  ------
March 31                     $25.66  $21.48  $23.00  $21.21 $18.60  $16.75
June 30                      $24.15  $20.10   23.18   19.92  19.94   17.37
September 30                 $25.50  $22.79   24.34   21.02  21.76   19.24
December 31                                   26.84   21.94  22.78   19.50


                                       NBT Bancorp Inc.
                                SELECTED FINANCIAL HIGHLIGHTS
                                        (unaudited)
                                                          Net      Percent
                                  2005       2004       Change     Change
                                ------      ------     -------    -------
                           (dollars in thousands,
                        except share and per share data)

Balance Sheet as
 of September 30,

Loans                    $ 3,003,103    $ 2,814,553    $  188,550     7%
Earning Assets             4,085,590      3,904,928       180,662     5%
Total Assets               4,385,621      4,201,089       184,532     4%
Deposits                   3,212,173      3,090,629       121,544     4%
Stockholders' Equity         332,168        325,378         6,790     2%
                         -----------    -----------    ----------------

Average Balances
Quarter Ended
 September 30,
Loans                    $ 3,002,017    $ 2,784,851    $  217,166     8%
Securities AFS
 (excluding unrealized
  gains or losses)           944,062        985,202       (41,140)   -4%
Securities HTM                87,663         78,310         9,353    12%
Regulatory Equity
 Investment                   37,965         37,012           953     3%
Short-Term Interest
 Bearing Accounts              8,357          7,395           962    13%
Total Earning Assets       4,080,063      3,892,770       187,293     5%
Total Assets               4,364,715      4,168,385       196,330     5%
Interest Bearing
 Deposits                  2,599,750      2,550,737        49,013     2%
Non-Interest Bearing
 Deposits                    572,450        504,457        67,993    13%
Short-Term Borrowings        367,737        336,077        31,660     9%
Long-Term Borrowings         438,087        411,647        26,440     6%
Total Interest Bearing
 Liabilities               3,405,574      3,298,461       107,113     3%
Stockholders' Equity         334,426        314,946        19,480     6%
                         -----------    -----------    ----------------


Average Balances
Nine Months Ended
 September 30,
Loans                    $ 2,941,292    $ 2,710,147    $  231,145     9%
Securities AFS
 (excluding unrealized
 gains or losses)            950,660        974,671       (24,011)   -2%
Securities HTM                86,959         87,322          (363)    0%
Regulatory Equity
 Investment                   37,044         34,778         2,266     7%
Short-Term Interest
 Bearing Accounts              7,171          7,638          (467)   -6%
Total Earning Assets       4,023,126      3,814,556       208,570     5%
Total Assets               4,303,581      4,091,552       212,029     5%
Interest Bearing
 Deposits                  2,620,446      2,542,621        77,825     3%
Non-Interest Bearing
 Deposits                    533,330        485,679        47,651    10%
Short-Term Borrowings        339,344        303,251        36,093    12%
Long-Term Borrowings         427,348        395,621        31,727     8%
Total Interest Bearing
 Liabilities               3,387,138      3,241,493       145,645     4%
Stockholders' Equity         329,741        315,328        14,413     5%



NBT Bancorp Inc. and
 Subsidiaries                      September 30, December 31, September 30,
Consolidated Balance Sheets            2005           2004         2004
 (unaudited)
                                    -----------   -----------  -----------

(in thousands)

ASSETS
Cash and due from banks             $  134,131    $    98,437  $   119,424
Short term interest
 bearing accounts                        7,515          8,286        7,427
Securities available
 for sale, at fair value               942,770        952,542      978,925
Securities held to
 maturity (fair value
 of $89,887, $82,712, and               89,660         81,782       77,826
 $79,007, at September 30,
 2005, December 31, 2004
 and September 30, 2004,
 respectively)
Federal Reserve and Federal
 Home Loan Bank stock                    36,842        36,842       37,042
Loans and leases                      3,003,103     2,869,921    2,814,553
Less allowance for loan
 and lease losses                        47,550        44,932       44,539
                                    -----------   -----------  -----------
  Net loans and leases                2,955,553     2,824,989    2,770,014
Premises and equipment, net              63,611        63,743       62,557
Goodwill                                 47,544        45,570       47,521
Intangible assets, net                    3,950         2,013        2,084
Bank owned life insurance                33,306        32,302       31,957
Other assets                             70,739        65,798       66,312
                                    -----------   -----------  -----------
TOTAL ASSETS                        $ 4,385,621   $ 4,212,304  $ 4,201,089
                                    ===========   ===========  ===========

LIABILITIES AND STOCKHOLDERS'
EQUITY
Deposits:
 Demand (noninterest bearing)       $   583,289   $   520,218  $   506,652
 Savings, NOW, and money market       1,409,114     1,435,561    1,513,197
 Time                                 1,219,770     1,118,059    1,070,780
                                    -----------   -----------  -----------
  Total deposits                      3,212,173     3,073,838    3,090,629
Short-term borrowings                   356,193       338,823      319,620
Long-term debt                          419,353       394,523      394,545
Trust preferred debentures               18,720        18,720       18,720
Other liabilities                        47,014        54,167       52,197
                                    -----------   -----------  -----------
  Total liabilities                   4,053,453     3,880,071    3,875,711


Total stockholders' equity              332,168       332,233      325,378
                                    -----------   -----------  -----------

TOTAL LIABILITIES AND
 STOCKHOLDERS' EQUITY               $ 4,385,621   $ 4,212,304  $ 4,201,089


NBT Bancorp Inc. and Subsidiaries
Consolidated Statements of Income (unaudited)

(in thousands, except per share data)

                                        Three months       Nine months
                                            ended            ended
                                          Sept. 30,         Sept. 30,
                                       2005     2004     2005      2004
                                     -------  -------  -------   -------

Interest, fee and
 dividend income:
Loans and leases                     $ 48,784  $ 41,283 $ 138,988 $ 120,812
Securities available for sale          10,103    10,784    30,576    31,866
Securities held to maturity               860       731     2,494     2,283
Other                                     535       295     1,551       797
                                     --------  -------- --------- ---------
  Total interest, fee
   and dividend income                 60,282    53,093   173,609   155,758
                                     --------  -------- --------- ---------
Interest expense:
Deposits                               12,842     9,743    35,580    29,462
Short-term borrowings                   3,005     1,192     7,073     2,779
Long-term debt                          4,176     3,861    12,016    11,103
Trust preferred debentures                308       245       851       588
                                     --------  -------- --------- ---------

  Total interest expense               20,331    15,041    55,520    43,932
                                     --------  -------- --------- ---------
Net interest income                    39,951    38,052   118,089   111,826
Provision for loan and lease losses     2,752     2,313     6,868     6,865
                                     --------  -------- --------- ---------
Net interest income after provision
 for loan and lease losses             37,199    35,739   111,221   104,961
                                     --------  -------- --------- ---------
Noninterest income:
Trust                                   1,292     1,182     3,795     3,431
Service charges on deposit accounts     4,314     4,159    12,554    12,286
ATM and debit card fees                 1,631     1,474     4,575     4,128
Broker/dealer and insurance revenue       571     1,696     2,659     5,210
Net securities (losses) gains            (737)       18      (690)       56
Bank owned life insurance income          339       348     1,005     1,142
Retirement plan administration fees     1,195         -     3,214         -
Other                                   1,746     1,240     5,005     4,296
                                     --------  -------- --------- ---------
  Total noninterest income             10,351    10,117    32,117    30,549
                                     --------  -------- --------- ---------
Noninterest expense:
Salaries and employee benefits         15,438    13,647    46,142    40,896
Office supplies and postage             1,135     1,167     3,406     3,341
Occupancy                               2,425     2,445     7,763     7,489
Equipment                               1,971     1,941     5,998     5,575
Professional fees and outside services  1,447     1,536     4,503     4,592
Data processing and communications      2,613     2,688     7,801     8,232
Amortization of intangible assets         142        71       402       213
Loan collection and other real estate
 owned                                    115       339       724       810
Other operating                         3,293     3,471     9,417     9,222
                                     --------  -------- --------- ---------
  Total noninterest expense            28,579    27,305    86,156    80,370
                                     --------  -------- --------- ---------
Income before income taxes             18,971    18,551    57,182    55,140
Income taxes                            5,445     5,934    17,739    17,584
                                     --------  -------- --------- ---------
   Net income                        $ 13,526  $ 12,617  $ 39,443  $ 37,556
                                     --------  -------- --------- ---------
Earnings Per Share:
     Basic                           $   0.42  $   0.39  $   1.21  $   1.15
     Diluted                         $   0.41  $   0.38  $   1.20  $   1.14


NBT Bancorp Inc. and Subsidiaries
Quarterly Consolidated Statements of Income (unaudited)

(in thousands, except per share data)

                             3Q        2Q        1Q        4Q        3Q
                            2005      2005      2005      2004      2004
                          --------  --------  --------  --------  --------

Interest, fee and
 dividend income:
Loans                     $ 48,784  $ 46,260  $ 43,944  $ 42,983  $ 41,283
Securities available
 for sale                   10,103    10,226    10,247    10,398    10,784
Securities held to
 maturity                      860       831       803       761       731
Other                          535       549       467       279       295
                          --------  --------  --------  --------  --------
  Total interest, fee
   and dividend income      60,282    57,866    55,461    54,421    53,093
                          --------  --------  --------  --------  --------
Interest expense:
Deposits                    12,842    12,018    10,720    10,299     9,743
Short-term borrowings        3,005     2,207     1,861     1,307     1,192
Long-term debt               4,176     4,032     3,808     3,919     3,861
Trust preferred
 debentures                    308       285       258       235       245
                          --------  --------  --------  --------  --------
  Total interest expense    20,331    18,542    16,647    15,760    15,041
                          --------  --------  --------  --------  --------
Net interest income         39,951    39,324    38,814    38,661    38,052
Provision for loan and
 lease losses                2,752     2,320     1,796     2,750     2,313
                          --------  --------  --------  --------  --------
Net interest income
 after provision for
 loan and lease losses      37,199    37,004    37,018    35,911    35,739
                          --------  --------  --------  --------  --------
Noninterest income:
Trust                        1,292     1,251     1,252     1,174     1,182
Service charges on
 deposit accounts            4,314     4,311     3,929     4,184     4,159
ATM and debit card fees      1,631     1,544     1,400     1,402     1,474
Broker/dealer and
 insurance fees                571       736     1,352     1,572     1,696
Net securities (losses)
 gains                        (737)       51        (4)      160        18
Bank owned life
 insurance income              339       333       333       345       348
Retirement plan
 administration fees         1,195     1,156       863         -         -
Other                        1,746     1,673     1,586     1,503     1,240
                          --------  --------  --------  --------  --------
  Total noninterest
   income                   10,351    11,055    10,711    10,340    10,117
                          --------  --------  --------  --------  --------
Noninterest expense:
Salaries and employee
 benefits                   15,438    15,253    15,451    14,308    13,647
Office supplies and
 postage                     1,135     1,121     1,150     1,118     1,167
Occupancy                    2,425     2,550     2,788     2,416     2,445
Equipment                    1,971     1,931     2,096     1,998     1,941
Professional fees and
 outside services            1,447     1,381     1,675     1,583     1,536
Data processing and
 communications              2,613     2,530     2,658     2,740     2,688
Amortization of
 intangible assets             142       142       118        71        71
Loan collection and
 other real estate owned       115       208       401       431       339
Goodwill impairment              -         -         -     1,950         -
Other operating              3,293     3,580     2,544     2,792     3,471
                          --------  --------  --------  --------  --------
  Total noninterest
   expense                  28,579    28,696    28,881    29,407    27,305
                          --------  --------  --------  --------  --------
Income before income
 taxes                      18,971    19,363    18,848    16,844    18,551
Income taxes                 5,445     6,235     6,059     4,353     5,934
                          --------  --------  --------  --------  --------
   Net income             $ 13,526  $ 13,128  $ 12,789  $ 12,491  $ 12,617
                          ========  ========  ========  ========  ========
Earnings per share:
   Basic                  $   0.42  $   0.41  $   0.39  $   0.38  $   0.38
   Diluted                $   0.41  $   0.40  $   0.39  $   0.38  $   0.38
                          ========  ========  ========  ========  ========

Contact:

Contact:
Daryl R. Forsythe
CEO
607-337-6416
 
Michael J. Chewens
CFO
607-337-6416
 
NBT Bancorp Inc.
52 South Broad Street
Norwich, NY 13815
607-337-6416
 

Source: NBT Bancorp Inc.

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