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UPDATE: NBT Bancorp Inc. Announces First Quarter Net Income of $14.3 Million, up 2.4% From Last Year; Declares Cash Dividend

04/25/11

NORWICH, NY, Apr 25, 2011 (MARKETWIRE via COMTEX) --

NBT Bancorp Inc. (NBT) (NASDAQ: NBTB) reported today net income for the three months ended March 31, 2011 was $14.3 million, up $0.3 million, or 2.4%, from the three months ended March 31, 2010. Net income per diluted share for the three months ended March 31, 2011 was $0.41 per share, equal to the net income per diluted share for the three months ended March 31, 2010. Annualized return on average assets and return on average equity were 1.08% and 10.78%, respectively, for the three months ended March 31, 2011, compared with 1.03% and 11.05%, respectively, for the three months ended March 31, 2010. Net interest margin (on a fully taxable equivalent basis ("FTE")) was 4.11% for the three months ended March 31, 2011, down 10 basis points ("bp") from 4.21% for the three months ended March 31, 2010.

Key items for the first quarter of 2011 include:

--  Net income of $14.3 million exceeded last year's first quarter earnings
    by 2.4%.
--  Diluted earnings per share of $0.41 equaled last year's results.
--  Net interest margin was 4.11% for the first quarter, down from the same
    period of 2010, resulting from the continued impact of the low rate
    environment on loan and investment yields.
--  Continued strategic expansion with the opening of a new branch in
    Williston, VT.

"Our strategy of balancing performance and investment continues to yield positive results, as demonstrated by our strong earnings and increased year-over-year net income," said NBT President and CEO Martin Dietrich. "Our team is focused on putting customers first and seeking new opportunities for growth as a means of constantly building a sustainable, high-performing financial services company."

Loan and Lease Quality and Provision for Loan and Lease Losses

The provision for loan and lease losses was $4.0 million for the first quarter of 2011, down $5.3 million from the $9.3 million recorded in the first quarter of 2010. Net charge-offs were $5.3 million for the quarter, representing 0.59% of average loans and leases for the quarter versus $5.6 million, or 0.63% of average loans and leases for the first quarter of 2010.

There were no significant changes in other asset quality indicators during the quarter. Past due loans declined during the quarter. Total nonperforming loans increased from $44.8 million at December 31, 2010 to $48.7 million at March 31, 2011. Net charge-offs were $5.3 million, the lowest net charge-off quarter since the fourth quarter of 2008. The allowance for loan and lease losses was $69.9 million at March 31, 2011, versus $71.2 million at December 31, 2010 and $70.1 million at March 31, 2010. The allowance for loan and lease losses represented 1.93% of loans and leases at March 31, 2011, compared to 1.97% at December 31, 2010 and 1.93% at March 31, 2010.

Net Interest Income

Net interest income was down 3.0% to $49.3 million for the three months ended March 31, 2011, compared with $50.8 million for the three months ended March 31, 2010. The Company's FTE net interest margin was 4.11% for the three months ended March 31, 2011, down from 4.21% for the three months ended March 31, 2010.

While the yield on interest bearing liabilities decreased 31 bp, the yield on interest earning assets declined 40 bp, resulting in margin compression for the three months ended March 31, 2011, compared to the same period for 2010. The yield on securities available for sale was 3.14% for the three months ended March 31, 2011, as compared with 4.02% for the three months ended March 31, 2010. The yield on loans and leases was 5.73% for the three months ended March 31, 2011, as compared with 6.00% for the three months ended March 31, 2010. The yield on time deposits was 1.90% for the three months ended March 31, 2011, as compared with 2.19% for the three months ended March 31, 2010. The yield on money market deposit accounts was 0.42% for the three months ended March 31, 2011, as compared with 0.70% for the three months ended March 31, 2010.

Noninterest Income

Noninterest income for the three months ended March 31, 2011 was $20.1 million, relatively flat compared with $20.3 million for the same period in 2010. Insurance and other financial services revenue increased approximately $0.5 million for the three months ended March 31, 2011, as compared to the three months ended March 31, 2010, due primarily to new business and improved market conditions. Trust revenue increased approximately $0.3 million for the three months ended March 31, 2011, as compared to the three months ended March 31, 2010, due primarily to an increase in fair market value of trust assets under administration. ATM and debit card fees also increased approximately $0.3 million for the three months ended March 31, 2011, as compared to the three months ended March 31, 2010. These increases were offset by a decrease in service charges on deposit accounts of approximately $1.1 million, or 17.3%, for the three months ended March 31, 2011, as compared with the same period in 2010. The decrease in service charges was the result of a decrease in overdraft activity due to the effects of implementing new regulations regarding overdraft fees in the third quarter of 2010.

Noninterest Expense and Income Tax Expense

Noninterest expense for the three months ended March 31, 2011 was $45.1 million, up from $42.2 million, or 6.9%, for the same period in 2010. Salaries and employee benefits increased $2.8 million, or 12.6%, for the three months ended March 31, 2011, compared with the same period in 2010. This increase was due primarily to increases in full-time-equivalent employees, merit increases and other employee benefits. In addition, occupancy expenses increased approximately $0.4 million for the three months ended March 31, 2011, as compared to the same period in 2010, primarily due to continued branch expansion and expenses related to the harsh winter. Other operating expenses consisting of various items increased approximately $0.7 million for the three months ended March 31, 2011, as compared to the same period in 2010 with no significant driver. These increases were partially offset by a decrease in data processing and communications expenses of approximately $0.3 million for the three months ended March 31, 2011, as compared to the three months ended March 31, 2010. This decrease was due to the renegotiation of a data processing contract resulting in a decrease in processing fees. In addition, loan collection and other real estate owned expenses decreased approximately $0.3 million for the three months ended March 31, 2011, as compared to the three months ended March 31, 2010. This decrease was due primarily to sales of certain properties classified as other real estate owned resulting in a reduction in maintenance expenses on properties owned by the Company. Income tax expense for the three month period ended March 31, 2011 was $6.0 million, up from $5.8 million for the same period in 2010. The effective tax rate was 29.7% for the three months ended March 31, 2011, as compared to 29.2% for the same period in 2010.

Balance Sheet

Total assets were $5.5 billion at March 31, 2011, up $138.8 million or 2.6% from December 31, 2010. Loans and leases were $3.6 billion at March 31, 2011, up $17.0 million from December 31, 2010. Total deposits were $4.3 billion at March 31, 2011, up $124.6 million from December 31, 2010. Stockholders' equity was $539.1 million, representing a total equity-to-total assets ratio of 9.84% at March 31, 2011, compared with $533.6 million or a total equity-to-total assets ratio of 9.99% at December 31, 2010.

Stock Repurchase Program

Under previously disclosed stock repurchase plans, the Company purchased 107,871 shares of its common stock during the three month period ended March 31, 2011, for a total of $2.4 million at an average price of $21.96 per share. At March 31, 2011, there were 868,319 shares available for repurchase under this previously announced stock repurchase plan. This plan was authorized on October 26, 2009 in the amount of 1,000,000 shares and expires on December 31, 2011.

Dividend Declared

The NBT Board of Directors declared a 2011 second-quarter cash dividend of $0.20 per share at a meeting held today. The dividend will be paid on June 15, 2011 to shareholders of record as of June 1, 2011.

Corporate Overview

NBT Bancorp Inc. is a financial holding company headquartered in Norwich, N.Y., with total assets of $5.5 billion at March 31, 2011. The company primarily operates through NBT Bank, N.A., a full-service community bank with two divisions, and through two financial services companies. NBT Bank, N.A. has 124 locations, including 85 NBT Bank offices in upstate New York, two NBT Bank offices in Vermont and 37 Pennstar Bank offices in northeastern Pennsylvania. EPIC Advisors, Inc., based in Rochester, N.Y., is a full-service 401(k) plan recordkeeping firm. Mang Insurance Agency, LLC, based in Norwich, N.Y., is a full-service insurance agency. More information about NBT and its divisions can be found on the Internet at: www.nbtbancorp.com, www.nbtbank.com, www.pennstarbank.com, www.epic1st.com and www.manginsurance.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; and (7) 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. and Subsidiaries
                      SELECTED FINANCIAL HIGHLIGHTS
                                (unaudited)
                                                         Net       Percent
                          2011             2010         Change     Change
                    ---------------  ---------------  ---------- ---------
                      (dollars in thousands, except
                            per share data)
Three Months Ended
 March 31,
Net Income          $        14,307  $        13,976  $      331         2%
Diluted Earnings
 Per Share          $          0.41  $          0.41  $     0.00         0%
Weighted Average
 Diluted Common
 Shares Outstanding      34,650,368       34,424,752     225,616         1%
Return on Average
 Assets (1)                    1.08%            1.03%       5 bp         5%
Return on Average
 Equity (1)                   10.78%           11.05%     -27 bp        -2%
Net Interest Margin
 (2)                           4.11%            4.21%     -10 bp        -2%
Asset Quality          March 31,      December 31,
                         2011             2010
                    ---------------  ---------------
Nonaccrual Loans    $        46,691  $        42,467
90 Days Past Due
 and Still Accruing $         2,007  $         2,325
Total Nonperforming
 Loans              $        48,698  $        44,792
Other Real Estate
 Owned              $           630  $           901
Total Nonperforming
 Assets             $        49,328  $        45,693
Past Due Loans      $        23,848  $        31,004
Potential Problem
 Loans              $        79,361  $        82,247
Allowance for Loan
 and Lease Losses   $        69,934  $        71,234
Year-to-Date (YTD)
 Net Charge-Offs    $         5,265  $        25,125
Allowance for Loan
 and Lease Losses
 to Total Loans and
 Leases                        1.93%            1.97%
Total Nonperforming
 Loans to Total
 Loans and Leases              1.34%            1.24%
Total Nonperforming
 Assets to Total
 Assets                        0.90%            0.86%
Past Due Loans to
 Total Loans and
 Leases                        0.66%            0.86%
Allowance for Loan
 and Lease Losses
 to Total
 Nonperforming
 Loans                       143.61%          159.03%
Net Charge-Offs to
 YTD Average Loans
 and Leases                    0.59%            0.69%
Capital
Equity to Assets               9.84%            9.99%
Book Value Per
 Share              $         15.65  $         15.51
Tangible Book Value
 Per Share          $         11.82  $         11.67
Tier 1 Leverage
 Ratio                         9.40%            9.16%
Tier 1 Capital
 Ratio                        12.76%           12.44%
Total Risk-Based
 Capital Ratio                14.02%           13.70%
Quarterly Common
 Stock Price               2011                   2010
Quarter End           High        Low       High        Low
                     ------     ------     ------     ------
March 31             $24.98     $21.55     $23.99     $19.15
June 30                                    $25.96     $20.33
September 30                               $23.06     $19.27
December 31                                $24.96     $21.41
(1)  Annualized
(2)  Calculated on a FTE basis
                    NBT Bancorp Inc. and Subsidiaries
                      SELECTED FINANCIAL HIGHLIGHTS
                                (unaudited)
                       March 31,       December 31,      Net       Percent
                          2011             2010         Change     Change
                    ---------------- ---------------- ---------  ---------
                      (dollars in thousands, except
                             per share data)
Balance Sheet
Loans and Leases    $      3,626,994 $      3,610,006 $  16,988          0%
Earning Assets      $      5,071,803 $      4,914,972 $ 156,831          3%
Total Assets        $      5,477,612 $      5,338,856 $ 138,756          3%
Deposits            $      4,258,942 $      4,134,352 $ 124,590          3%
Stockholders'
 Equity             $        539,076 $        533,572 $   5,504          1%
                          2011             2010
                    ---------------- ----------------
                      (dollars in thousands, except
Average Balances             per share data)
Three Months Ended
 March 31,
Loans and Leases    $      3,616,191 $      3,640,137 $ (23,946)
Securities
 Available For Sale
 (excluding
 unrealized gains
 or losses)         $      1,098,042 $      1,088,604 $   9,438
Securities Held To
 Maturity           $         94,098 $        155,800 $ (61,702)
Trading Securities  $          2,969 $          2,428 $     541
Regulatory Equity
 Investment         $         27,246 $         34,728 $  (7,482)
Short-Term Interest
 Bearing Accounts   $        141,309 $        124,018 $  17,291
Total Earning
 Assets             $      4,976,886 $      5,043,287 $ (66,401)
Total Assets        $      5,397,057 $      5,489,544 $ (92,487)
Interest Bearing
 Deposits           $      3,289,925 $      3,376,185 $ (86,260)
Non-Interest
 Bearing Deposits   $        904,748 $        759,533 $ 145,215
Short-Term
 Borrowings         $        153,374 $        157,255 $  (3,881)
Long-Term
 Borrowings         $        445,401 $        601,748 $(156,347)
Total Interest
 Bearing
 Liabilities        $      3,888,700 $      4,135,188 $(246,488)
Stockholders'
 Equity             $        538,211 $        513,174 $  25,037
NBT Bancorp Inc. and Subsidiaries                  March 31,   December 31,
Consolidated Balance Sheets (unaudited)               2011         2010
                                                   -----------  -----------
(in thousands)
ASSETS
Cash and due from banks                            $    84,599  $    99,673
Short term interest bearing accounts                   237,347       69,119
Securities available for sale, at fair value         1,105,606    1,129,368
Securities held to maturity (fair value of $91,426
 and $98,759 at March 31, 2011 and December 31,
 2010, respectively)                                    90,008       97,310
Trading securities                                       3,119        2,808
Federal Reserve and Federal Home Loan Bank stock        27,246       27,246
Loans and leases                                     3,626,994    3,610,006
Less allowance for loan and lease losses                69,934       71,234
                                                   ===========  ===========
  Net loans and leases                               3,557,060    3,538,772
Premises and equipment, net                             67,109       67,404
Goodwill                                               114,841      114,841
Intangible assets, net                                  17,016       17,543
Bank owned life insurance                               76,336       75,301
Other assets                                            97,325       99,471
                                                   -----------  -----------
TOTAL ASSETS                                       $ 5,477,612  $ 5,338,856
                                                   ===========  ===========
LIABILITIES AND STOCKHOLDERS' EQUITY
Deposits:
 Demand (noninterest bearing)                      $   909,833  $   911,741
 Savings, NOW, and money market                      2,418,748    2,291,833
 Time                                                  930,361      930,778
                                                   -----------  -----------
  Total deposits                                     4,258,942    4,134,352
Short-term borrowings                                  167,461      159,434
Long-term debt                                         370,032      369,874
Trust preferred debentures                              75,422       75,422
Other liabilities                                       66,679       66,202
                                                   -----------  -----------
  Total liabilities                                  4,938,536    4,805,284
Total stockholders' equity                             539,076      533,572
                                                   ===========  ===========
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY         $ 5,477,612  $ 5,338,856
                                                   ===========  ===========
                                                     Three months ended
NBT Bancorp Inc. and Subsidiaries                         March 31,
Consolidated Statements of Income (unaudited)         2011         2010
                                                   -----------  -----------
(in thousands, except per share data)
Interest, fee and dividend income:
Loans and leases                                   $    50,860  $    53,692
Securities available for sale                            7,904       10,046
Securities held to maturity                                800        1,137
Other                                                      493          596
                                                   -----------  -----------
  Total interest, fee and dividend income               60,057       65,471
                                                   -----------  -----------
Interest expense:
Deposits                                                 6,287        8,454
Short-term borrowings                                       58          124
Long-term debt                                           3,571        5,065
Trust preferred debentures                                 889        1,027
                                                   -----------  -----------
  Total interest expense                                10,805       14,670
                                                   -----------  -----------
Net interest income                                     49,252       50,801
Provision for loan and lease losses                      3,965        9,243
                                                   -----------  -----------
Net interest income after provision for loan and
 lease losses                                           45,287       41,558
                                                   -----------  -----------
Noninterest income:
Trust                                                    2,036        1,766
Service charges on deposit accounts                      5,072        6,130
ATM and debit card fees                                  2,668        2,367
Insurance and other financial services revenue           5,773        5,245
Net securities gains                                        27           28
Bank owned life insurance income                         1,035          981
Retirement plan administration fees                      2,171        2,390
Other                                                    1,344        1,434
                                                   -----------  -----------
  Total noninterest income                              20,126       20,341
                                                   -----------  -----------
Noninterest expense:
Salaries and employee benefits                          25,004       22,204
Office supplies and postage                              1,545        1,542
Occupancy                                                4,522        4,152
Equipment                                                2,190        2,100
Professional fees and outside services                   2,066        2,284
Data processing and communications                       2,914        3,218
Amortization of intangible assets                          733          781
Loan collection and other real estate owned                719        1,059
Advertising                                                568          667
FDIC expenses                                            1,496        1,553
Other operating                                          3,304        2,600
                                                   -----------  -----------
  Total noninterest expense                             45,061       42,160
                                                   -----------  -----------
Income before income taxes                              20,352       19,739
Income taxes                                             6,045        5,763
                                                   -----------  -----------
   Net income                                      $    14,307  $    13,976
                                                   -----------  -----------
Earnings Per Share:
     Basic                                         $      0.42  $      0.41
     Diluted                                       $      0.41  $      0.41
                                                   ===========  ===========
NBT Bancorp Inc. and Subsidiaries
Quarterly Consolidated
 Statements of Income             1Q       4Q       3Q       2Q       1Q
 (unaudited)                     2011     2010     2010     2010     2010
                               -------- -------- -------- -------- --------
(in thousands, except per
 share data)
Interest, fee and dividend
 income:
Loans and leases               $ 50,860 $ 52,933 $ 53,301 $ 53,503 $ 53,692
Securities available for sale     7,904    7,944    8,621    9,556   10,046
Securities held to maturity         800      845      908    1,078    1,137
Other                               493      627      482      469      596
                               -------- -------- -------- -------- --------
  Total interest, fee and
   dividend income               60,057   62,349   63,312   64,606   65,471
                               -------- -------- -------- -------- --------
Interest expense:
Deposits                          6,287    6,727    7,174    7,999    8,454
Short-term borrowings                58       64       91      123      124
Long-term debt                    3,571    4,025    4,374    4,850    5,065
Trust preferred debentures          889    1,034    1,046    1,033    1,027
                               -------- -------- -------- -------- --------
  Total interest expense         10,805   11,850   12,685   14,005   14,670
                               -------- -------- -------- -------- --------
Net interest income              49,252   50,499   50,627   50,601   50,801
Provision for loan and lease
 losses                           3,965    6,687    7,529    6,350    9,243
                               -------- -------- -------- -------- --------
Net interest income after
 provision for loan and lease
 losses                          45,287   43,812   43,098   44,251   41,558
                               -------- -------- -------- -------- --------
Noninterest income:
Trust                             2,036    2,261    1,786    1,909    1,766
Service charges on deposit
 accounts                         5,072    5,657    5,953    6,301    6,130
ATM and debit card fees           2,668    2,546    2,660    2,462    2,367
Insurance and other financial
 services revenue                 5,773    4,327    4,595    4,700    5,245
Net securities gains/(losses)        27    2,063    1,120       63       28
Bank owned life insurance
 income                           1,035      872      655      808      981
Retirement plan administration
 fees                             2,171    2,759    2,612    2,595    2,390
Other                             1,344    1,751    1,610    1,482    1,434
                               -------- -------- -------- -------- --------
  Total noninterest income       20,126   22,236   20,991   20,320   20,341
                               -------- -------- -------- -------- --------
Noninterest expense:
Salaries and employee benefits   25,004   23,200   24,090   24,224   22,204
Office supplies and postage       1,545    1,564    1,542    1,454    1,542
Occupancy                         4,522    3,823    3,709    3,666    4,152
Equipment                         2,190    2,123    2,053    2,041    2,100
Professional fees and outside
 services                         2,066    2,489    2,068    2,191    2,284
Data processing and
 communications                   2,914    2,893    2,971    3,265    3,218
Amortization of intangible
 assets                             733      744      767      780      781
Loan collection and other real
 estate owned                       719      761      548      668    1,059
Advertising                         568    1,266      730      825      667
FDIC expenses                     1,496    1,347    1,621    1,560    1,553
Prepayment penalty on
 long-term debt                       -    3,321    1,205        -        -
Other operating                   3,304    3,719    3,380    3,523    2,600
                               -------- -------- -------- -------- --------
  Total noninterest expense      45,061   47,250   44,684   44,197   42,160
                               -------- -------- -------- -------- --------
Income before income taxes       20,352   18,798   19,405   20,374   19,739
Income taxes                      6,045    4,364    4,835    5,950    5,763
                               -------- -------- -------- -------- --------
   Net income                  $ 14,307 $ 14,434 $ 14,570 $ 14,424 $ 13,976
                               ======== ======== ======== ======== ========
Earnings per share:
   Basic                       $   0.42 $   0.42 $   0.42 $   0.42 $   0.41
   Diluted                     $   0.41 $   0.42 $   0.42 $   0.42 $   0.41
                               ======== ======== ======== ======== ========
Three Months ended
     March 31,
                                2011                         2010
(dollars in         Average             Yield/   Average             Yield/
 thousands)         Balance   Interest  Rates    Balance   Interest  Rates
                  ----------- --------- -----  ----------- --------- -----
ASSETS
Short-term
 interest bearing
 accounts         $   141,309 $      69  0.20% $   124,018 $      67  0.22%
Securities
 available for
 sale (1)
 (excluding
 unrealized gains
 or losses)         1,098,042     8,501  3.14%   1,088,604    10,781  4.02%
Securities held
 to maturity (1)       94,098     1,202  5.18%     155,800     1,714  4.46%
Investment in FRB
 and FHLB Banks        27,246       425  6.33%      34,728       529  6.17%
Loans and leases
 (2)                3,616,191    51,092  5.73%   3,640,137    53,880  6.00%
                  ----------- ---------        ----------- ---------
 Total interest
  earning assets  $ 4,976,886 $  61,289  4.99% $ 5,043,287 $  66,971  5.39%
                              ---------                    ---------
Other assets          420,171                      446,257
                  -----------                  -----------
Total assets      $ 5,397,057                  $ 5,489,544
                  -----------                  -----------
LIABILITIES AND STOCKHOLDERS' EQUITY
Money market
 deposit accounts $ 1,085,882     1,116  0.42% $ 1,093,986 $   1,896  0.70%
NOW deposit
 accounts             698,141       635  0.37%     722,179       822  0.46%
Savings deposits      574,370       165  0.12%     532,677       193  0.15%
Time deposits         931,532     4,371  1.90%   1,027,343     5,543  2.19%
                  ----------- ---------        ----------- ---------
  Total interest
   bearing
   deposits       $ 3,289,925 $   6,287  0.78% $ 3,376,185 $   8,454  1.02%
Short-term
 borrowings           153,374        58  0.15%     157,255       124  0.32%
Trust preferred
 debentures            75,422       889  4.78%      75,422     1,027  5.52%
Long-term debt        369,979     3,571  3.91%     526,326     5,065  3.90%
                  ----------- ---------        ----------- ---------
  Total interest
   bearing
   liabilities    $ 3,888,700 $  10,805  1.13% $ 4,135,188 $  14,670  1.44%
                              ---------                    ---------
Demand deposits       904,748                      759,533
Other liabilities      65,398                       81,649
Stockholders'
 equity               538,211                      513,174
                  -----------                  -----------
Total liabilities
 and
 stockholders'
 equity           $ 5,397,057                  $ 5,489,544
                  -----------                  -----------
  Net interest
   income (FTE)                  50,484                       52,301
                              ---------                    ---------
Interest rate
 spread                                  3.86%                        3.95%
Net interest
 margin                                  4.11%                        4.21%
Taxable
 equivalent
 adjustment                       1,232                        1,500
                              ---------                    ---------
Net interest
 income                       $  49,252                    $  50,801
(1) Securities are shown at average amortized cost
(2) For purposes of these computations, nonaccrual loans are included in
    the average loan balances outstanding
NBT Bancorp Inc. and Subsidiaries
Loans and Leases (Unaudited)
                                                   March 31,   December 31,
(In thousands)                                        2011         2010
                                                   -----------  -----------
Residential real estate mortgages                  $   561,783  $   548,394
Commercial                                             593,857      577,731
Commercial real estate mortgages                       839,482      844,458
Real estate construction and development                62,389       45,444
Agricultural and agricultural real estate mortgages    109,666      112,738
Consumer                                               901,287      905,563
Home equity                                            558,530      575,678
                                                   -----------  -----------
  Total loans and leases                           $ 3,626,994  $ 3,610,006
                                                   ===========  ===========

Contact:
Martin A. Dietrich, CEO
Michael J. Chewens, CFO
NBT Bancorp Inc.
52 South Broad Street
Norwich, NY 13815
607-337-6119

SOURCE: NBT Bancorp Inc.

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