☒
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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.
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2021
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2020
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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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261,955,990
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$
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224,897,072
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||||
Common stock of NBT Bancorp Inc.
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32,371,061
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28,328,382
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||||||
Stable value fund
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18,725,214
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18,057,331
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||||||
Cash and money market funds
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655,938
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485,883
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||||||
Total investments, at fair value
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$
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313,708,203
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$
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271,768,668
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Receivables:
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||||||||
Notes receivable from participants
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$
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2,960,370
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$
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2,999,315
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||||
Due from broker
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1,996
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504,378
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||||||
Contributions receivable from employer
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1,280,571
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43,555
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Total receivables
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$
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4,242,937
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$
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3,547,248
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Total assets
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$
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317,951,140
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$
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275,315,916
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Liabilities
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Due to broker
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$
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575,963
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$
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923,806
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Total liabilities
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$
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575,963
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$
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923,806
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Net assets available for plan benefits
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$
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317,375,177
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$
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274,392,110
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2021
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2020
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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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27,360,654
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$
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20,319,113
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Dividends
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17,394,336
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9,956,874
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Interest
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283,804
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306,724
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Total net investment income
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$
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45,038,794
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$
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30,582,711
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Interest income on notes receivable from participants
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$
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149,219
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$
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169,712
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Contributions:
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Participants
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$
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10,978,328
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$
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10,660,078
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Employer
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5,318,892
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3,927,477
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Rollovers
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696,355
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4,050,510
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Total contributions
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$
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16,993,575
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$
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18,638,065
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Total additions
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$
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62,181,588
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$
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49,390,488
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Deductions
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Distributions to participants
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$
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(19,186,318
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)
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$
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(19,091,270
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)
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Administrative expenses
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(12,203
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)
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(11,284
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)
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Total deductions
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$
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(19,198,521
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)
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$
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(19,102,554
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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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42,983,067
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$
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30,287,934
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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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274,392,110
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$
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244,104,176
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End of year
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$
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317,375,177
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$
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274,392,110
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1. |
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, 2021
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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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261,955,990
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$
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261,955,990
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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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32,371,061
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32,371,061
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-
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-
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Stable value fund
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18,725,214
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18,725,214
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-
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-
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Cash and money mark funds
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655,938
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655,938
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-
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-
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Total
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$
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313,708,203
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$
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313,708,203
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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, 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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4. |
Income Tax Status
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5. |
Party‑in‑Interest Transactions
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6. |
Subsequent Events
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(a)
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(b)
Identity of issuer, borrower, lessor, or similar
party |
(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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655,765
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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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173
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Federated Hermes Capital Preservation Fund
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Stable value fund
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**
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18,725,214
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T-Rowe Price Growth Stock Fund
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Mutual fund, 362,010 shares
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**
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38,488,952
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T-Rowe Price Retirement 2030 Fund
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Mutual fund, 1,090,304 shares
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**
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32,142,163
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Vanguard 500 Index Fund Admiral
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Mutual fund, 63,945 shares
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**
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28,125,036
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T-Rowe Price Retirement 2040 Fund
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Mutual fund, 714,317 shares
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**
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23,401,021
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T-Rowe Price Retirement 2020 Fund
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Mutual fund, 794,895 shares
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**
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17,654,619
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T-Rowe Price Retirement 2050 Fund
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Mutual fund, 764,355 shares
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**
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14,897,273
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T-Rowe Price Mid Cap Growth
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Mutual fund, 124,406 shares
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**
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14,597,818
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American Fund New Perspective Fund
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Mutual fund, 192,798 shares
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**
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12,790,244
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Vanguard Mid Cap Index Fund Admiral
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Mutual fund, 40,156 shares
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**
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12,667,476
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Columbia Dividend Income Fund
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Mutual fund, 355,259 shares
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**
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11,233,299
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T-Rowe Price Dividend Growth Fund
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Mutual fund, 135,791 shares
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**
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10,058,065
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Dodge & Cox Income Fund
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Mutual fund, 678,928 shares
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**
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9,545,722
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T-Rowe Price Small-Capital Value Fund
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Mutual fund, 144,194 shares
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**
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8,909,744
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Vanguard Balanced Index Fund Admiral
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Mutual fund, 148,710 shares
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**
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7,289,764
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Europacific Growth Fund
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Mutual fund, 101,807 shares
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**
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6,583,840
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Vanguard Intermediate US Treasury
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Mutual fund, 392,313 shares
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**
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4,437,065
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T-Rowe Price Retirement Income Fund
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Mutual fund, 156,554 shares
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**
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2,373,357
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T-Rowe Price Retirement 2060 Fund
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Mutual fund, 138,060 shares
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**
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2,283,516
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T-Rowe Price Retirement 2010 Fund
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Mutual fund, 98,365 shares
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**
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1,725,330
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Fidelity Inflation Protected Bond Index Fund
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Mutual fund, 122,522 shares
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**
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1,367,348
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JPMorgan Emerging Markets Equity Fund
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Mutual fund, 23,544 shares
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**
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895,371
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Vanguard Short Term Bond Index Fund Admiral
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Mutual fund, 46,085 shares
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**
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488,967
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*
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NBT Bancorp Inc.
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Common stock, 840,372 shares
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**
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32,371,061
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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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2,960,370
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$
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316,668,573
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Dated: June 27, 2022
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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 of Staff, Chief Ethics Officer and Member of the Retirement Plans Committee of the NBT Bancorp Inc. 401(k) and Employee Stock Ownership Plan
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Exhibit Index
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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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