Slides
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Investor Presentation Fourth Quarter 2025 Financial Information as of September 30, 2025
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About NBT Bancorp Strategic Initiatives Financial Performance Appendix 2 About NBT Bancorp
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ABOUT NBT BANCORP Company Profile 3 Wealth AUM/A(3): $6.42 Billion / $12.44 Billion EPIC RPS AUA(4): $39.11 Billion 84th Largest Bank Holding Co. Headquarters Norwich, NY Founded 1856 Ticker NASDAQ: NBTB Market Cap(1) $2.12 Billion Branches 175 Employees 2,386 Institutional Ownership 66% 3 Mo. ADTV 193,100 52 Week H/L(1) $52.44 / $37.31 FINANCIAL HIGHLIGHTS Data as of 9/30/2025 unless noted. Bank holding company ranking source: S&P Global Market Intelligence. 1. As of 10/31/2025. 2. Excludes gains/losses on sale of securities. 3. Assets under management and assets under administration in wealth management; excludes EPIC Retirement Plan Services. 4. Assets under administration in EPIC Retirement Plan Services. NBTB Nasdaq Global Select Market ASSETS $16.11 Billion LOANS $11.60 Billion DEPOSITS $13.66 Billion NONINTEREST INCOME TO REVENUE(2) 28%
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ABOUT NBT BANCORP Business Overview 4 RETAIL BANKING • 175 Branches Across 7 States; 227 ATMs(1) • Digital Banking CONSUMER LENDING • Home Lending • Personal Lending • Indirect Auto Lending COMMERCIAL BANKING • C&I and CRE Lending • SBA Lending • Business Banking • Treasury Management • Card and Payment Services FEE BUSINESSES • Retirement Plan Administration and Custody Services • Business, Personal and Life Insurance • Institutional Wealth Management • Brokerage and Advisory Services • Trust Services 1. As of 9/30/2025.
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ABOUT NBT BANCORP Key Highlights 5 High-performing, community bank with STRONG CAPITAL POSITION and traditional bank business model Consistent track record of ORGANIC GROWTH selectively balanced with market and product expanding acquisitions DIVERSE, GRANULAR DEPOSIT BASE with dominant shares in “hometown” markets that support growth in more dynamic adjacent markets Conservative credit culture has produced STRONG ASSET QUALITY and minimized “through-the-cycle” losses DIVERSIFIED FEE INCOME SOURCES, including wealth management, retirement plan services and insurance OPTIMIZING MARKET-LEADING TECHNOLOGY PLATFORMS across business lines to continuously enhance and transform customer and employee experience and grow
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ABOUT NBT BANCORP Consistent Strength 6 13.97% 0.00% 2.50% 5.00% 7.50% 10.00% 12.50% 15.00% 17.50% Total Regulatory Capital as % of Risk-Weighted Assets NBT Bancorp Peer Group Average KBW Regional Banking Index Senior Unsecured Debt BBB+ A- Subordinated Debt BBB BBB+ Current Credit Ratings from Kroll Bond Rating Agency(1) 1. Kroll Bond Rating Agency (KBRA) credit ratings affirmed as of 6/6/2025. Market considers ratings BBB and above investment grade. • Strong financial performance and capital position with $1.72 billion in total capital • Highly diversified loan and deposit portfolios, conducting business in 7 northeastern states • Diverse and granular deposit mix – $13.66 billion in deposits with average balance per account of $22,161 • Total deposits increased $2.11 billion year-to-date, including $1.86 billion of deposits acquired from Evans • $4.77 billion of available liquidity sources Data as of September 30, 2025, unless otherwise stated. Peer Data Source: S&P Global Market Intelligence; data as of the most recent available quarter. Refer to appendix for Peer Group and reconciliation of Non-GAAP measures. Total Risk-Based Capital Ratio Regulatory Well Capitalized Threshold 8.36% 8.42% 8.68% 8.30% 8.58% 3.50% 5.00% 6.50% 8.00% 9.50% Q3' 24 Q4' 24 Q1' 25 Q2' 25 Q3' 25 Tangible Equity Ratio
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About NBT Bancorp Strategic Initiatives Financial Performance Appendix 7 Strategic Initiatives
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STRATEGIC INITIATIVES8 Our Strategic Initiatives Execute Long-Term Growth Strategy • Organic growth across all markets, business lines • Opportunities include transformational investments in Upstate New York and New England build out • Leverage market disruption • Disciplined acquisitions • Continue to grow Retirement Plan Administration, Wealth Management and Insurance businesses • Engage in opportunistic acquisitions • Continuously enhance experience we deliver to customers and employees • Optimize market-leading platforms and continue to execute technology roadmap Customer-First Digital Mindset Grow and Augment Fee Businesses
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STRATEGIC INITIATIVES Transformational Investments Underway in Upstate New York 9 New York State has fostered the ideal semiconductor and advanced electronics manufacturing ecosystem1 with: The most advanced, publicly owned semiconductor R&D facility in North America; The nation’s largest public university system and a highly educated workforce; Stable and abundant energy and natural resources; and 3,000 acres of fully permitted, shovel-ready sites and ambitious incentives in the U.S. for semiconductor manufacturers. Leading manufacturers are receiving funding through the CHIPS & Science Act of 2022, including: $6.1 billion to support Micron Technology Inc. plans to invest as much as $100 billion over next 20 years in a campus near Syracuse. (April 2024) $1.5 billion to enable GlobalFoundries to expand and create new manufacturing capacity and capabilities to securely produce more essential chips (February 2024) and an additional $75 million toward the construction of an advanced chip packaging and testing center in Malta. (January 2025) 1. New York Empire State Development NBT is well positioned to support regional growth • Branch network is ideally situated • NBT leaders are connected to key economic and workforce development initiatives • Committed to helping customers and communities participate in historic growth opportunities • Actively gathering intelligence and developing long-term strategies for all business lines Chobani, America’s #1 yogurt brand, broke ground on a new $1.2 billion state-of-the-art plant in Rome, NY in April 2025. According to the company, the 1.4 million square foot facility is expected to create over 1,000 full-time jobs. New York State’s I-81 Viaduct Project is a $2.25 billion project to update the state’s infrastructure that will reconnect downtown neighborhoods in Syracuse while maintaining the high-speed interstate connection with national and international north-south trade routes. The fifth and final contract in the first phase of this project was awarded in April 2025.
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STRATEGIC INITIATIVES Disciplined Acquirer & Proven Integrator • Completed August 2023 – 9 months from announcement • Added $1.6 billion in assets and 13 branches • Added attractive, complementary markets in: Northwest Connecticut, Western Massachusetts and New York’s Hudson Valley • Well-established wealth management 10 Year Entity Acquired 2024 PACO, Inc. | West Des Moines, IA 2023 Retirement Direct, LLC | Cornelius, NC 2022 Cleveland Hauswirth Investment Management | Milwaukee, WI 2020 Alliance Benefit Group of Illinois, Inc. | Peoria, ILDiversify Revenue, Expand Capabilities and Build Scale Retirement Plan Services Acquisition Highlights • Completed May 2025 – 8 months from announcement • Added $2.22 billion in assets and 18 branches • Expanded presence into Upstate New York’s two largest markets by population: Buffalo and Rochester We employ a strategic and selective acquisition strategy that focuses high-value partners to enhance our existing franchise. NBTB has completed 14 acquisitions, including 3 banks and 12 fee-based businesses, since 2013.
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STRATEGIC INITIATIVES11 Evans Merger Builds On Growth Opportunities 1. Excludes the New York City MSA and select counties (Kings, Nassau, New York, Queens, Richmond, Suffolk, and Westchester counties). 2. Accreted over the estimated life of the loans of approximately 5 to 6 years using current prepayments speed assumptions. | 3. Amortized using the sum of years digits method over 10 years. • Merger completed May 2, 2025 • Successful simultaneous conversion of all operating systems • Issued 5.1 million shares valued at $221.8 million as of the closing date • Expanded NBT’s presence into Upstate New York’s (1) two largest markets by population – Buffalo and Rochester • Significant opportunity for NBT Bank to accelerate growth in Rochester ASSETS + $2.22B LOANS +$1.67B DEPOSITS +$1.86B EMPLOYEES +200 BRANCHES +18 Purchase Accounting Impacts ► Fair Value Adjustments Loans(2) ($95.2 million) Net Long-Term Debt $0.6 million Core Deposit $33.2 million Intangible(3)
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STRATEGIC INITIATIVES Focus on Fee-Based Businesses 12 $51.4 Million Total Noninterest Q3 Income(1) 28% YTD Noninterest Income to Total Revenue(1) (compared to peer median at 19%(4) Key Fee Revenue Verticals Over Time(2) ($ in million) Service Charges 9.9% Card Services Income 12.4% Retirement Plan Administration 31.0% Wealth Management 21.6% Insurance Services 10.2% BOLI 6.3% Other 8.6% $36 $42 $48 $47 $57 $60 $29 $34 $33 $35 $42 $44 $15 $14 $15 $16 $17 $18 $80 $90 $96 $98 $115 $122 2020 2021 2022 2023 2024 2025 Retirement Plan Administration Wealth Management Insurance Services Q3 2025 Fee Income Composition(1) (%) (3) Source for Peer Data: S&P Global Market Intelligence; data as of the most recent available quarter; refer to appendix for Peer G roup. | Note: Numbers may not foot due to rounding. 1. Excludes gains/losses on sale of securities. | 2. Does not represent all fee income. | 3. Trailing four quart ers. | 4. Data as of 09.30.2025.
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STRATEGIC INITIATIVES $31,607 $43,586 $47,221 $60,405 2019 2021 2023 2025 National Benefits Administration Firm Revenues ($ in thousands) 11% 6-YEAR CAGR 13 Customized Consulting, Recordkeeping, Actuarial and Administrative Services for All Types of Retirement Plans Deep Partnerships with Clients Across 50 States, Including Retirement Plan Advisors, Banks and TPAs Proprietary Customer Experience Delivery Platform Driving Adoption and Satisfaction Acquisition Activity Provides Revenue Growth, Client Diversification and Expands Capabilities and Geography “Helping America Retire” Over 375,000 Plan Participants Nationwide (1) 1. Trailing four quarters.
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STRATEGIC INITIATIVES14 Enterprise Technology NBT’s comprehensive Technology Roadmap is a customer and employee-focused plan designed to deliver technology-enabled solutions that enhance experience while fostering profitability and growth.
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About NBT Bancorp Strategic Initiatives Financial Performance Appendix 15 Financial Performance
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FINANCIAL PERFORMANCE $7.37 $7.59 $9.08 $10.23 $9.50 $10.97 $11.55 $13.66 2018 2019 2020 2021 2022 2023 2024 Q3'25 16 Track Record of Consistent Growth Gross Loans ($ in billion) Shareholders Equity ($ in billion) Deposits ($ in billion) Total Assets ($ in billion) $9.56 $9.72 $10.93 $12.01 $11.74 $13.31 $13.79 $16.11 2018 2019 2020 2021 2022 2023 2024 Q3'25 $6.89 $7.14 $7.50 $7.50 $8.15 $9.65 $9.97 $11.60 2018 2019 2020 2021 2022 2023 2024 Q3'25 $1.02 $1.12 $1.19 $1.25 $1.17 $1.43 $1.53 $1.85 2018 2019 2020 2021 2022 2023 2024 Q3'25
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FINANCIAL PERFORMANCE $131.1 $139.8 $146.7 $157.2 $156.7 $151.5 $174.0 $188.0 2018 2019 2020 2021 2022 2023 2024 2025 17 $264.6 $274.7 $277.7 $287.3 $303.5 $331.7 $376.4 $413.9 2018 2019 2020 2021 2022 2023 2024 2025 Strong & Stable Profitability $305.6 $311.6 $315.7 $321.1 $362.2 $378.2 $400.1 $472.2 2018 2019 2020 2021 2022 2023 2024 2025 17 Net Interest Income ($ in million) Fee Income(1) ($ in million) Adjusted Noninterest Expense ($ in million) Net Interest Margin FTE (%) 3.58% 3.58% 3.31% 3.03% 3.34% 3.29% 3.23% 3.57% 2018 2019 2020 2021 2022 2023 2024 2025 Note: Refer to appendix for reconciliation of Non-GAAP measures. | 1. Excludes gains/losses on sale of securities and equity investments. | 2. Trailing four quarters. | 3. Annualized. (2) (3) (2) (2)
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FINANCIAL PERFORMANCE Results Overview Q3 2025 18 1. Comparison to Q2 2025 unless otherwise stated. | 2. Non-GAAP measure; refer to appendix for reconciliation of Non-GAAP measures. | 3. Annualized. ($ in millions except per share data) Change % Change Q3 2025 Q2 2025 Q3 2024 Q2 2025 Q3 2024 Period End Balance Sheet Total loans $ 11,595.1 $ (29.5) $ 1,688.1 (0.3%) 17.0% Total deposits 13,660.9 145.7 2,072.6 1.1% 17.9% Income Statement FTE net interest income (2) $ 135.3 $ 10.4 $ 32.9 8.3% 32.2% Net income 54.5 32.0 16.4 142.0% 43.0% Earnings per share, diluted 1.03 0.59 0.23 134.1% 28.8% Performance Ratios Net interest margin (2)(3) 3.66% 0.07% 0.39% 1.9% 11.9% ROAA (3) 1.35% 0.76% 0.23% 128.8% 20.5% ROATCE (2)(3) 17.35% 9.34% 2.81% 116.6% 19.3% NCOs/ Avg loans (%)(3) 0.15% 0.06% (0.01%) 66.7% (6.3%) Operating Results Net income (2) $ 55.3 $ 10.4 $ 17.2 23.1% 45.0% Earnings per share, diluted (2) 1.05 0.17 0.25 19.3% 31.3% ROAA (2)(3) 1.37% 0.18% 0.25% 15.1% 22.3% ROATCE (2)(3) 17.61% 2.36% 3.05% 15.5% 20.9% Capital Tangible book value per share (2) $ 25.51 $ 0.94 $ 1.68 3.8% 7.0% Tangible equity ratio (2) 8.58% 0.28% 0.22% 3.4% 2.6% Leverage ratio 9.34% (0.21%) (0.95%) (2.2%) (9.2%) Common equity tier 1 capital ratio 11.80% 0.43% (0.06%) 3.8% (0.5%) Tier 1 capital ratio 11.80% 0.43% (0.97%) 3.8% (7.6%) Total risk-based capital ratio 13.97% (0.51%) (1.05%) (3.5%) (7.0%) HIGHLIGHTS(1) Balance Sheet • Average total interest-earning assets grew 17.6% from Q3 2024 • Loans grew 17.0% from Q3 2024 • Deposits grew 17.9% from Q3 2024 • Tangible equity ratio was 8.58%(2) Earnings & Capital • Net income of $54.5 million and diluted earnings per share of $1.03 • Operating net income(2) of $55.3 million and operating diluted earnings per share(2) of $1.05 • Operating ROAA(2) of 1.37% • Operating ROTCE(2) of 17.61% • Net interest margin(2)(3) up 7 bps to 3.66% • Tangible book value per share(2) at $25.51, up 7% from second quarter 2024
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FINANCIAL PERFORMANCE Net Interest Income & Net Interest Margin 19 Net Interest Income and annualized Net Interest Margin are shown on a fully tax equivalent basis, which is a Non-GAAP measure; refer to appendix for reconciliation of Non-GAAP measures. 1. Comparison to Q2 2025 unless otherwise stated. HIGHLIGHTS(1) • Net interest income increased $10.4 million to $135.3 million • Net interest margin increased 7 bps to 3.66% • Interest-earning asset yields increased 6 bps with loan yields up 3 bps • Total cost of funds decreased 2 bps to 1.60% • Net accretion of acquired loans and borrowings was $6.3 million up $1.3 million from the prior quarter Net Interest Income Change in Interest Rates % Change from Base Up 200 bps +1.03% Up 100 bps +0.81% Down 100 bps -0.78% Down 200 bps -1.01% Year 1 Interest Rate Sensitivity Net Interest Income ($ in millions) & Net Interest Margin (%) 3.59% 0.05% 0.02% 3.66% NIM 6/30/2025 (+) Asset yield rate/volume (+) Funding cost rate/volume NIM 9/30/2025 3.00% 3.20% 3.40% 3.60% 3.80% 4.00% Q3 2025 Net Interest Margin $102.3 $106.7 $107.9 $124.9 $135.3 3.27% 3.34% 3.44% 3.59% 3.66% 3.00% 3.25% 3.50% 3.75% 4.00% 4.25% $50.0 $75.0 $100.0 $125.0 $150.0 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Net Interest Income Net Interest Margin
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FINANCIAL PERFORMANCE20 Service charges on deposit accounts Card services income Retirement plan administration fees Wealth management Insurance Other Noninterest Income Noninterest Income Trend(2) ($ in millions) Peer Source Data: S&P Global Market Intelligence. | Refer to appendix for Peer Group. | 1. Comparison to Q2 2025 unless otherwise stated. | 2. Excludes net securities gains (losses). $4.6 $4.5 $6.4 $5.7 $7.6 $4.9 $3.9 $4.8 $4.1 $5.3 $10.9 $10.8 $10.9 $10.7 $11.1 $14.6 $12.9 $15.9 $15.7 $15.9 $5.9 $5.7 $5.3 $6.1 $6.4$4.3 $4.4 $4.2 $4.6 $5.1 $0.0 $10.0 $20.0 $30.0 $40.0 $50.0 $60.0 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 HIGHLIGHTS(1) (2) • $51.4 million in noninterest income • Noninterest income increased $6.1 million or 13% from Q3 2024 with: • Retirement plan administration fees up 9.2% • Wealth management fees up 1.6% • Insurance revenues up 7.1% • Noninterest income to total revenue was 28% (above peer levels)
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FINANCIAL PERFORMANCE Noninterest Expense 21 Noninterest Expense Trend(2) ($ in millions) 1. Comparisons to Q2 2025 unless otherwise stated. | 2. Other expense excludes acquisition expenses in all quarters: $1.1 million for Q3 2025, $17.2 million for Q2 2025, $1.2 million for Q1 2025, $1.0 million for Q4 2024 and $0.5 million for Q3 2024. $35.6 $38.0 $38.0 $41.3 $43.4 $59.6 $61.7 $60.7 $64.2 $66.6 $0.0 $25.0 $50.0 $75.0 $100.0 $125.0 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Other expense Salaries & benefits HIGHLIGHTS(1) Salaries & Benefits • Increased by 3.9% driven by the full quarter impact of the Evans acquisition, higher incentive compensation expenses and higher medical costs Other Expenses • Other expenses increased primarily due to the full quarter impact of the Evans acquisition and timing of planned initiatives • Amortization of intangible assets increased due to amortization of intangibles related to the Evans acquisition
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FINANCIAL PERFORMANCE22 Capital Strength Regulatory Capital Ratios NBT 09/30/2025 Regulatory Well Capitalized Level Tier 1 Leverage 9.34% 5.00% Total Risk-Based Capital 13.97% 10.00% Q4 2025 dividend of $0.37 per share – 8.8% increase 13th consecutive year of annual dividend increases in 2025
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FINANCIAL PERFORMANCE Home Equity 4% Residential Mortgage 22% Indirect Auto 11% C&I 14% Owner Occupied CRE 9% Non-Owner Occupied CRE 33% Residential Solar and Other Consumer 7% $9.91 $9.97 $9.98 $11.62 $11.60 5.74% 5.65% 5.62% 5.77% 5.80% Q3' 24 Q4' 24 Q1' 25 Q2' 25 Q3' 25 Total Loans ($) Yield on Loans (%) Loans 23 Yield on Loans (%) / Total Loans ($ in billions) 1. Comparison to Q2 2025 unless otherwise stated. | 2. New origination yields for the third quarter of 2025. Quarterly Loan Yields Line of Business Portfolio New Origination(2) Commercial 6.20% 6.74% Indirect Auto 6.00% 5.75% Residential Mortgage 4.57% 6.19% HIGHLIGHTS(1) • Loans increased $1.63 billion from December 31, 2024 • Total commercial loans increased $1.17 billion to $6.47 billion • Total consumer loans increased $0.45 billion to $5.12 billion • Loan Mix: Commercial 56% / Consumer 44% • Excluding loans acquired from Evans and consumer portfolios in planned run-off status, loans grew: • $38.2 million, or 0.6% annualized from December 31, 2024 • $132.4 million, or 1.5% from September 30, 2024 • 59% Fixed and 41% Adjustable / Floating • $2.4 billion in variable rate loans • Quarterly yields on total loans increased 3 bps $11.60 billion Total Loans
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FINANCIAL PERFORMANCE Deposits 24 Demand (Noninterest Bearing) 28% Savings and Interest-Bearing Checking 30% Money Market 30% Time 12% 1. Comparison to Q2 2025 unless otherwise stated. | 2. Includes commercial, business banking and municipal customers. Deposit Mix Balance as of September 30, 2025 Number of Accounts Average Balance per Account Consumer $ 6.95 billion 526,248 $ 13,203 Commercial(2) $ 6.71 billion 90,180 $ 74,437 Total $ 13.66 billion 616,428 $ 22,161 Diverse & Granular Deposit Mix HIGHLIGHTS(1) • Cost of total deposits of 1.52%, up 1 bp • Total cost of funds was 1.60%, down 2 bps • Period end deposits increased $2.11 billion, or 18.3%, from December 31, 2024, including $1.86 billion of deposits acquired from Evans • Excluding deposits acquired from Evans, deposits grew; • $250.1 million, or 2.9% annualized from December 31, 2024 • Noninterest bearing deposits were 28% of total deposits • Total deposits represented 98% of funding • Loan to deposit ratio of 84.9% Total Deposits $13.66 billion Cost of Interest-Bearing Deposits Savings and Interest-Bearing Checking 0.77% Money Market 3.01% Time 3.26% Total Interest-Bearing 2.13%
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FINANCIAL PERFORMANCE Commercial Portfolio Detail Residential Rental Properties 45.2% Office 12.7% Retail 12.5% Manufacturing and Warehouse 10.5% Mixed Use 11.6% Hotel 4.8% Other 2.7% 25 Real Estate Industry 16.0% Construction Trade 9.2% Wholesalers 8.7% Manufacturing 13.0% Medical 5.6% General Retailers 3.4% Agriculture 5.9% Automotive Retailers 1.7% Education 3.8% Food Services 2.4% All Other Industries 30.3% Real Estate Industry 11.8% Construction Trade 6.0% Wholesalers 7.4% Manufacturing 8.6% Medical 11.0%General Retailers 11.5% Automotive Retailers 5.5% Education 4.0% Theaters, Amusements, Gaming, etc. 6.2% Food Services 6.0% All Other Industries 22.0% Owner Occupied CRE ($1.01 billion) Commercial & Industrial ($1.64 billion) Non-Owner Occupied CRE ($3.82 billion) Non-Owner Occupied CRE to Capital was 221.7% Commercial Loan Portfolio $6.47 billion
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FINANCIAL PERFORMANCE26 Indirect Auto 26% Other Consumer 1% Residential Solar 15% Residential Mortgage 49% Home Equity 9% Consumer Lending Portfolio Metrics Category Total Outstandings ($000s) # of Accounts Average Balance Weighted Average FICO Average DTI Residential Mortgage $ 2,528,565 16,226 $ 154,849 763 35 Indirect Auto $ 1,327,689 61,468 $ 21,149 762 31 Residential Solar $ 757,982 25,268 $ 29,996 761 35 Home Equity $ 435,584 12,714 $ 33,680 782 33 Other Consumer $ 70,335 34,398 $ 2,052 753 28 Consumer Lending Portfolio $5.12 billion Consumer & Residential Portfolio Detail
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FINANCIAL PERFORMANCE Asset Quality 27 Net Charge-Offs Loans Past Due(2) Loan Loss ReservesNonperforming Assets(3) 1. Annualized. | 2. Loans past due and still accruing. | 3. Nonperforming assets include nonaccrual loans, loans ninety days past due and still accruing and other real estate owned. (1) $3,920 $5,709 $6,554 $2,361 $4,300 0.16% 0.23% 0.27% 0.09% 0.15% 0.00% 0.15% 0.30% 0.45% $0 $1,500 $3,000 $4,500 $6,000 $7,500 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Net Charge-offs ($000) NCOs/Avg Loans (%) $37,446 $51,799 $47,999 $46,737 $53,683 0.27% 0.38% 0.35% 0.29% 0.33% 0.05% 0.20% 0.35% 0.50% 0.65% $0 $15,000 $30,000 $45,000 $60,000 $75,000 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Nonperforming Assets ($000) NPAs/Assets (%) $119,500 $116,000 $117,000 $140,200 $139,000 1.21% 1.16% 1.17% 1.21% 1.20% 0.75% 1.00% 1.25% 1.50% 1.75% $70,000 $90,000 $110,000 $130,000 $150,000 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Loan Loss Reserve ($000) Reserves/Loans (%) $35,872 $33,532 $32,097 $43,941 $44,328 0.36% 0.34% 0.32% 0.38% 0.38% 0.00% 0.20% 0.40% 0.60% 0.80% $0 $15,000 $30,000 $45,000 $60,000 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Loans Past Due ($000) Loans Past Due/Loans (%)
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About NBT Bancorp Strategic Initiatives Financial Performance Appendix 28 Appendix
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APPENDIX Performance to Peer Group 29 Data Source: S&P Global Market Intelligence as of the most recent quarter. Refer to appendix for Peer Group. Note: Peer data pro forma for recently announced acquisitions. 1. Refer to appendix for reconciliation of Non-GAAP measures. 2. Core Income excludes extraordinary items, non-recurring items, amortization of intangibles & goodwill impairment and gains/losses on sale of securities. 3. Excludes gains / losses on sale of securities. Performance Ratios % September 30, 2025 NBTB Peer Median Peer Average Core ROAE(1)(2) 10.71% 9.80% 9.21% Core ROATCE(1)(2) 14.68% 13.85% 13.10% Net Interest Margin(1) 3.57% 3.48% 3.51% Fee Income / Revenue(3) 28.48% 18.61% 18.99% Loans / Deposits 84.88% 91.30% 91.87% Market Ratios September 30, 2025 NBTB Peer Median Peer Average Price / EPS (x) 13.86 12.30 (7.76) Price / TBV (%)(1) 163.70% 132.18% 146.70% Current Dividend Yield (%) 3.54% 3.75% 3.68%
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APPENDIX $116,000 $15,467 $13,022 $7,726 $(13,215) $139,000 Reserve 12/31/2024 (+) Provision Expense (+) Acquisition Day 1 Non-PCD(1) (+) Acquisition Day 1 PCD(1) (-) Net Charge-Offs Reserve 9/30/2025 30 Loan Type 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 Commercial & Industrial 0.73% 0.73% 0.76% 0.79% 0.81% Commercial Real Estate 1.01% 0.95% 1.02% 1.14% 1.13% Residential Mortgage and Home Equity 1.00% 1.00% 1.00% 1.05% 1.05% Auto 0.83% 0.81% 0.72% 0.70% 0.70% Residential Solar and Other Consumer 3.69% 3.64% 3.61% 3.64% 3.62% Total 1.21% 1.16% 1.17% 1.21% 1.20% Reserve / Loans by Segment Loan Loss Reserve Activity ($ in thousands) Loan Loss Reserve (CECL)
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APPENDIX31 -40% -30% -20% -10% 0% 10% 20% 30% 40% 50% NBTB KBW Nasdaq Regional Bank Peer Average 4 Ye a r NBT Stock Performance October 31, 2025 NBTB, 10% KBW Nasdaq Regional Bank, -8% Peer Average, -9%
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APPENDIX32 October 31, 2025 KBW Nasdaq Regional Bank, 5% Peer Average, -2% NBTB, -13% NBTB’s stock price has lagged peers since the acquisition announcement in September 2024. -20% -15% -10% -5% 0% 5% 10% 15% 20% 25% 30% NBTB KBW Nasdaq Regional Bank Peer Average Since Evans Announcement NBT Stock Performance
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APPENDIX Peer Group Name HQ City State Ticker Beacon Financial Corporation Boston MA BBT Community Financial System, Inc. Dewitt NY CBU Dime Community Bancshares, Inc. Hauppauge NY DCOM Eastern Bankshares, Inc. Boston MA EBC First Busey Corporation Champaign IL BUSE First Commonwealth Financial Corporation Indiana PA FCF First Financial Bancorp. Cincinnati OH FFBC First Merchants Corporation Muncie IN FRME Fulton Financial Corporation Lancaster PA FULT Independent Bank Corp. Rockland MA INDB Northwest Bancshares, Inc. Columbus OH NWBI OceanFirst Financial Corp. Red Bank NJ OCFC Park National Corporation Newark OH PRK Provident Financial Services, Inc. Jersey City NJ PFS S&T Bancorp, Inc. Indiana PA STBA Tompkins Financial Corporation Ithaca NY TMP WesBanco, Inc. Wheeling WV WSBC 33
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APPENDIX34 In the J.D. Power 2025 U.S. Retail Banking Satisfaction Study, NBT Bank was the highest ranked bank in Upstate New York and ranked #3 in the NY Tri-State Region, which includes New York, Connecticut and New Jersey. External Recognition • National Winner – Overall Satisfaction for Small Business Banking in the U.S. • Regional Winner – Overall Satisfaction for Small Business Banking in the U.S. (Northeast) • Regional Winner – Satisfaction in Cash Management for Small Business Banking in the U.S. (Northeast) • Recognized as a Forbes World’s Best Bank 5 times in 6 years (2019 to 2024) • Named to Forbes America’s Best Banks list for 2025
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APPENDIX353535 (Dollars in Thousands) Q3 2025 Q2 2025 Q3 2024 Net Income $ 54,471 $ 22,510 $ 38,097 Amortization of Intangible Assets (Net of Tax) 2,572 2,282 1,547 Net Income, Excluding Intangibles Amortization $ 57,043 $ 24,792 $ 39,644 Average Tangible Common Equity $ 1,304,322 $ 1,241,349 $ 1,084,885 Return on Average Tangible Common Equity(1) 17.35% 8.01% 14.54% (Dollars in Thousands, Except Per Share Data) Q3 2025 Q2 2025 Q3 2024 Net Income $ 54,471 $ 22,510 $ 38,097 Acquisition Expenses 1,125 17,180 543 Acquisition-Related Provision for Credit Losses - 13,022 - Acquisition-Related Reserve for Unfunded Loan Commitments - 532 - Securities Losses (Gains) 2 (112) (476) Adjustments to Net Income $ 1,127 $ 30,622 $ 67 Adjustments to Net Income (Net of Tax) $ 851 $ 22,413 $ 52 Operating Net Income $ 55,322 $ 44,923 $ 38,149 Operating Diluted Earnings Per Share $ 1.05 $ 0.88 $ 0.80 Operating Return on Average Assets(1) 1.37% 1.19% 1.12% Operating Return on Average Tangible Common Equity(1) 17.61% 15.25% 14.56%1. Annualized. Reconciliation of Non-GAAP Measures
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APPENDIX3636 Reconciliation of Non-GAAP Measures 36 (Dollars in Thousands, Except Per Share Data) Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Total Stockholder’s Equity $ 1,853,146 $ 1,805,166 $ 1,526,775 $ 1,526,141 $ 1,521,980 Goodwill and Other Intangibles (515,090) (518,519) (396,912) (399,023) (397,853) Tangible Common Equity $ 1,338,056 $ 1,286,647 $ 1,168,863 $ 1,127,118 $ 1,124,127 Total Assets $ 16,112,584 $ 16,014,781 $ 13,864,251 $ 13,786,666 $ 13,839,552 Goodwill and Other Intangibles (515,090) (518,519) (396,912) (399,023) (397,853) Tangible Assets $ 15,597,494 $ 15,496,262 $ 13,467,339 $ 13,387,643 $ 13,441,699 Tangible Common Equity to Tangible Assets 8.58% 8.30% 8.68% 8.42% 8.36% Common Shares Outstanding 52,448,654 52,377,287 47,176,828 Book Value Per Share $ 35.33 $ 34.46 $ 32.26 Tangible Book Value Per Share $ 25.51 $ 24.57 $ 23.831. Annualized. (Dollars in Thousands) Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Net Interest Income $ 134,663 $ 124,220 $ 107,223 $ 106,105 $ 101,669 FTE Adjustment 594 655 636 619 639 Net Interest Income, Tax Equivalent $ 135,257 $ 124,875 $ 107,859 $ 106,724 $ 102,308 Average Total Interest Earning Assets $ 14,643,524 $ 13,958,413 $ 12,701,136 $ 12,704,655 $ 12,447,198 Net Interest Margin, Tax Equivalent(1) 3.66% 3.59% 3.44% 3.34% 3.27%
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APPENDIX3737 Reconciliation of Non-GAAP Measures 37 (Dollars in Thousands) 2025 – YTD 2024 2023 2022 2021 2020 2019 2018 Net Interest Income $ 366,106 $ 400,122 $ 378,219 $ 362,190 $ 321,088 $ 315,678 $ 311,555 $ 305,629 FTE Adjustment 1,885 2,574 2,034 1,304 1,191 1,301 1,667 2,007 Net Interest Income, Tax Equivalent $ 367,991 $ 402,696 $ 380,253 $ 363,494 $ 322,279 $ 316,979 $ 313,222 $ 307,636 Average Total Interest Earning Assets $ 13,774,806 $ 12,449,064 $ 11,570,283 $ 10,898,871 $ 10,631,890 $ 9,571,777 $ 8,739,258 $ 8,594,469 Net Interest Margin, Tax Equivalent(1) 3.57% 3.23% 3.29% 3.34% 3.03% 3.31% 3.58% 3.58% (Dollars in Thousands) 2025 - LTM 2024 2023 2022 2021 2020 2019 2018 Noninterest Expense $ 434,428 $ 377,881 $ 341,664 $ 304,465 $ 287,281 $ 277,733 $ 274,734 $ 264,561 Acquisition Expenses (20,514) (1,531) (9,978) (967) - - - - Adjusted Noninterest Expense $ 413,914 $ 376,350 $ 331,686 $ 303,498 $ 287,281 $277,733 $274,734 $ 264,561 1. Annualized.
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APPENDIX3838 Reconciliation of Non-GAAP Measures 38 1. Balance per S&P Global Market Intelligence, utilizes a 21% statutory tax rate. 2. Calculation per S&P Global Market Intelligence. 3. Balance per S&P Global Market Intelligence. 4. Data as of 9/30/2025 (Dollars in Thousands) 2025 – YTD(4) Net Income $ 113,726 Securities (Gains) (Net of Tax)(1) (5) Amortization of Intangibles (Net of Tax)(1) 6,780 Acquisition Expenses (Net of Tax)(1) 15,426 Core Net Income(2) $ 135,927 Average Stockholders’ Equity $ 1,692,002 Average Tangible Equity(3) $ 1,234,506 Core Return on Average Equity(2) 10.71% Core Return on Average Tangible Common Equity(2) 14.68%
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APPENDIX Forward-Looking Statements This presentation contains forward-looking statements, as defined in the Private Securities Litigation Reform Act of 1995. These statements may be identified by the use of phrases such as “anticipate,” “believe,” “expect,” “forecasts,” “projects,” “will,” “can,” “would,” “should,” “could,” “may,” or other similar terms. There are a number of factors, many of which are beyond the Company’s control, that could cause actual results to differ materially from those contemplated by 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) local, regional, national and international economic conditions, including actual or potential stress in the banking industry, and the impact they may have on the Company and its customers, and the Company’s assessment of that impact; (2) changes in the level of nonperforming assets and charge-offs; (3) changes in estimates of future reserve requirements based upon the periodic review thereof under relevant regulatory and accounting requirements; (4) the effects of and changes in trade and monetary and fiscal policies and laws, including the interest rate policies of the Federal Reserve Board (“FRB”) and international trade disputes (including threatened or implemented tariffs imposed by the U.S. and threatened or implemented tariffs imposed by foreign countries in retaliation); (5) inflation, interest rate, securities market and monetary fluctuations; (6) political instability; (7) acts of war, including international military conflicts, or terrorism; (8) the timely development and acceptance of new products and services and the perceived overall value of these products and services by users; (9) changes in consumer spending, borrowing and saving habits; (10) changes in the financial performance and/or condition of the Company’s borrowers; (11) technological changes; (12) acquisition and integration of acquired businesses; (13) the ability to increase market share and control expenses; (14) changes in the competitive environment among financial holding companies; (15) the effect of changes in laws and regulations (including laws and regulations concerning taxes, banking, securities and insurance) with which the Company and its subsidiaries must comply, including those under the Dodd-Frank Act, and the Economic Growth, Regulatory Relief, and Consumer Protection Act of 2018; (16) the effect of changes in accounting policies and practices, as may be adopted by the regulatory agencies, as well as the Public Company Accounting Oversight Board, the Financial Accounting Standards Board and other accounting standard setters; (17) changes in the Company’s organization, compensation and benefit plans; (18) the costs and effects of legal and regulatory developments, including the resolution of legal proceedings or regulatory or other governmental inquiries, and the results of regulatory examinations or reviews; (19) greater than expected costs or difficulties related to the integration of new products and lines of business; and (20) the Company’s success at managing the risks involved in the foregoing items. The Company cautions readers not to place undue reliance on any forward-looking statements, which speak only as of the date made, and advises readers that various factors, including, but not limited to, those described above and other factors discussed in the Company’s annual and quarterly reports previously filed with the SEC, could affect the Company’s financial performance and could cause the Company’s actual results or circumstances for future periods to differ materially from those anticipated or projected. Unless required by law, the Company does not undertake, and specifically disclaims any obligations to, publicly release any revisions that may be made to any forward- looking statements to reflect the occurrence of anticipated or unanticipated events or circumstances after the date of such statements. 39