☒
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ANNUAL REPORT PURSUANT TO SECTION 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934.
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☐
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TRANSITION REPORT PURSUANT TO SECTION 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934.
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A. |
Full title of the plan and the address of the plan, if different from that of the issuer named below:
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B. |
Name of issuer of the securities held pursuant to the plan and the address of its principal executive office:
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Page
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1
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2
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3
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4
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Supplemental Schedule*
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9
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* Schedules required by Form 5500 that are not applicable have not been included. |
2020
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2019
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|||||||
Assets
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||||||||
Investments, at fair value:
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||||||||
Mutual funds
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$
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224,897,072
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$
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190,829,367
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||||
Common stock of NBT Bancorp Inc.
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28,328,382
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34,736,546
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||||||
Stable value fund
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18,057,331
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14,874,048
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||||||
Cash and money market funds
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485,883
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157,492
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||||||
Total investments, at fair value
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$
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271,768,668
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$
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240,597,453
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Receivables:
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||||||||
Notes receivable from participants
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$
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2,999,315
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$
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3,139,130
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||||
Due from broker
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504,378
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382,734
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Contributions receivable from employer
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43,555
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-
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Total receivables
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$
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3,547,248
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$
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3,521,864
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Total assets
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$
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275,315,916
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$
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244,119,317
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Liabilities
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Due to broker
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$
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923,806
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$
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15,141
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Total liabilities
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$
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923,806
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$
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15,141
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Net assets available for plan benefits
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$
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274,392,110
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$
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244,104,176
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2020
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2019
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Additions
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Net investment income:
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Net appreciation in fair value of investment
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$
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20,319,113
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$
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35,702,056
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Dividends
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9,956,874
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8,365,216
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Interest
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306,724
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304,408
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Total net investment income
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$
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30,582,711
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$
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44,371,680
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Interest income on notes receivable from participants
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$
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169,712
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$
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157,236
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Contributions:
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Participants
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$
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10,660,078
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$
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9,624,628
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Employer
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3,927,477
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3,653,329
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Rollovers
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4,050,510
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1,595,924
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Total contributions
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$
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18,638,065
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$
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14,873,881
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Total additions
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$
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49,390,488
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$
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59,402,797
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Deductions
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Distributions to participants
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$
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(19,091,270
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)
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$
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(16,926,846
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)
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Administrative expenses
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(11,284
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)
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(26,818
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)
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Total deductions
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$
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(19,102,554
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)
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$
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(16,953,664
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)
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Net increase in net assets available for plan benefits
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$
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30,287,934
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$
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42,449,133
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Net assets available for plan benefits
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Beginning of year
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$
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244,104,176
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$
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201,655,043
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End of year
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$
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274,392,110
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$
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244,104,176
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1.
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Description of Plan
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2.
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Summary of Significant Accounting Policies
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3.
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Fair Value Measurements
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Description
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December 31, 2020
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Level 1
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Level 2
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Level 3
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Mutual funds
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$
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224,897,072
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$
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224,897,072
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$
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-
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$
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-
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||||||||
Common stock of NBT Bancorp Inc.
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28,328,382
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28,328,382
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-
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-
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Stable value fund
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18,057,331
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18,057,331
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-
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-
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Cash and money mark funds
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485,883
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485,883
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-
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-
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Total
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$
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271,768,668
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$
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271,768,668
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$
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-
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$
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-
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Description
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December 31, 2019
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Level 1
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Level 2
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Level 3
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||||||||||||
Mutual funds
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$
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190,829,367
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$
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190,829,367
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$
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-
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$
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-
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Common stock of NBT Bancorp Inc.
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34,736,546
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34,736,546
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-
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-
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Stable value fund
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14,874,048
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14,874,048
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-
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-
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Cash and money mark funds
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157,492
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157,492
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-
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-
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Total
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$
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240,597,453
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$
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240,597,453
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$
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-
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$
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-
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4.
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Income Tax Status
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5.
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Party‑in‑Interest Transactions
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6.
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Subsequent Events
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(a)
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(b)
Identity of issuer, borrower, lessor, or similar
party
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(c)
Description of investment
including maturity date, rate of
interest, collateral, par, or
maturity value
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(d)
Cost
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(e)
Current value
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Cash
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Cash
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**
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$
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485,625
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*
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Schwab Value Advantage Money Fund
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Money market fund
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**
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258
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Federated Hermes Capital Preservation Fund
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Stable value fund
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**
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18,057,331
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T-Rowe Price Retirement 2030 Fund
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Mutual fund, 968,581 shares
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**
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27,556,139
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T-Rowe Price Growth Stock Fund
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Mutual fund, 280,499 shares
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**
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27,191,556
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Vanguard 500 Index Fund Admiral
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Mutual fund, 63,594 shares
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**
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22,039,604
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T-Rowe Price Retirement 2040 Fund
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Mutual fund, 580,414 shares
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**
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17,662,011
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T-Rowe Price Retirement 2020 Fund
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Mutual fund, 739,561 shares
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**
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16,825,021
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T-Rowe Price Mid Cap Growth
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Mutual fund, 122,238 shares
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**
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13,822,619
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T-Rowe Price Retirement 2050 Fund
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Mutual fund, 651,566 shares
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**
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11,584,849
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American Fund New Perspective Fund
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Mutual fund, 188,753 shares
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**
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11,404,450
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Vanguard Mid Cap Index Fund Admiral
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Mutual fund, 40,090 shares
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**
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10,279,163
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Dodge & Cox Income Fund
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Mutual fund, 651,203 shares
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**
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9,540,124
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Columbia Dividend Income Fund
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Mutual fund, 360,395 shares
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**
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9,301,792
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Vanguard Capital Opportunity Fund
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Mutual fund, 47,985 shares
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**
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8,518,258
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T-Rowe Price Dividend Growth Fund
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Mutual fund, 139,041 shares
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**
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8,343,840
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Europacific Growth Fund
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Mutual fund, 100,876 shares
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**
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6,983,615
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T-Rowe Price Small-Capital Value Fund
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Mutual fund, 129,950 shares
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**
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6,860,043
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Vanguard Intermediate US Treasury
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Mutual fund, 464,608 shares
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**
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5,435,915
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Vanguard Balanced Index Fund Admiral
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Mutual fund, 115,790 shares
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**
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5,134,113
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T-Rowe Price Retirement Income Fund
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Mutual fund, 137,502 shares
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**
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2,169,777
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T-Rowe Price Retirement 2060 Fund
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Mutual fund, 118,422 shares
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**
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1,739,614
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T-Rowe Price Retirement 2010 Fund
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Mutual fund, 87,637 shares
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**
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1,608,144
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JPMorgan Emerging Markets Equity Fund
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Mutual fund, 20,364 shares
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**
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896,425
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*
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NBT Bancorp Inc.
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Common stock, 882,499 shares
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**
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28,328,382
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*
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Participant loans receivable
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Interest rates – 4.25% – 7.50%
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**
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2,999,315
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$
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274,767,983
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Dated: June 25, 2021
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NBT BANCORP INC. 401(k) AND
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EMPLOYEE OWNERSHIP PLAN
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By: /s/ Catherine Scarlett
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Catherine Scarlett
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Executive Vice President, Chief Human Resources
Officer, Chief Ethics Officer, Corporate Secretary and Member of the Retirement Plans Committee of the NBT Bancorp Inc. 401(k) and Employee Stock Ownership Plan
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Exhibit Number
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Description
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Consent of Independent Registered Public Accounting Firm
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