Earnings release
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Contact: Exhibit 99.1 FOR IMMEDIATE RELEASEATTENTION: FINANCIAL AND BUSINESS EDITORS Scott A. Kingsley, President and CEOAnnette L. Burns, Executive Vice President and CFONBT Bancorp Inc.52 South Broad StreetNorwich, NY 13815607-337-6589 NBT BANCORP INC. ANNOUNCES RECORD THIRD QUARTER 2026 RESULTS AND DECLARES CASH DIVIDEND NORWICH, NY (October 27, 2026) – NBT Bancorp Inc. (“NBT” or the “Company”) (NASDAQ: NBTB) reported net income and diluted earnings per sharefor the three and nine months ended September 30, 2026. Net income for the third quarter of 2026 was $58.0 million, or $1.11 per diluted common share, compared to $54.5 million, or $1.03 per diluted commonshare, for the third quarter of 2025, and $53.0 million, or $1.02 per diluted common share, for the second quarter of 2026. Operating diluted earnings per share(1), a non-GAAP measure, was $1.11 for the third quarter of 2026, compared to $1.05 for the third quarter of 2025 and $1.01 for the second quarter of2026. CEO Comments “Our record third quarter results reflect the strength of our diversified business model and disciplined execution across the company,” said NBT President and CEO Scott Kingsley. “We delivered solid loan growth, grew net interest income and expanded our net interest margin, and continued to maintain strong capital levels. These results position us well to continue serving our customers and communities and creating long-term value for our shareholders.” Third Quarter 2026 Financial Highlights Net Income ◾ Net income was $58.0 million and diluted earnings per share was $1.11 ◾ Revenues grew 4.5% while expenses increased 3.3% from the previous quarter Net Interest Income/ NIM ◾ Net interest income on a fully taxable equivalent (“FTE”) basis was $142.7 million(1) ◾ Net interest margin (“NIM”) on an FTE basis was 3.78%(1), an increase of 5 basis points (“bps”) from the prior quarter ◾ Earning asset yields of 5.11% were up 6 bps from the prior quarter ◾ Total cost of funds of 1.42% was up 1 bp from the prior quarter Noninterest Income ◾ Noninterest income was $52.9 million, or 27% of total revenues, excluding net securities gains Loans and CreditQuality ◾ Period end loans were $11.95 billion ◾ Net charge-offs to average loans was 0.14% annualized ◾ Nonperforming loans to total loans was 0.59% ◾ Allowance for loan losses to total loans was 1.17% ◾ Provision for loan losses was $3.8 million Deposits ◾ Period end deposits were $13.59 billion ◾ Total cost of deposits was 1.32% for the third quarter of 2026, down 1 bp from the second quarter of 2026 Capital ◾ Stockholders’ equity was $1.94 billion as of September 30, 2026 ◾ Tangible book value per share(1) was $27.75 at September 30, 2026, an increase of 4.6% from December 31, 2025 ◾ Tangible equity to assets was 9.07%(1) ◾ CET1 ratio of 12.43%; Leverage ratio of 9.99% 1
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◾ ◾ ◾ ◾ ◾ ◾ ◾ ◾ ◾ Loans Period end total loans were $11.95 billion at September 30, 2026, compared to $11.60 billion at December 31, 2025, with growth in bothcommercial and consumer lending in the third quarter of 2026.Period end total loans increased $350.4 million, or 3.0% from December 31, 2025. Excluding the other consumer and residential solar portfolios,which are in a planned run-off status, period end loans increased $427.2 million, or 3.9%, from December 31, 2025. Deposits Total deposits at September 30, 2026 were $13.59 billion compared to $13.50 billion at December 31, 2025. Deposit mix characteristics improvedwith an increase in demand deposits, interest-bearing checking, savings and money market accounts, partially offset by a decrease in time deposits.The loan to deposit ratio was 87.9% at September 30, 2026, compared to 85.9% at December 31, 2025. Net Interest Income and Net Interest Margin Net interest income for the third quarter of 2026 was $142.1 million, an increase of $5.1 million, or 3.7%, from the second quarter of 2026 and anincrease of $7.4 million, or 5.5%, from the third quarter of 2025. The increase in net interest income from the second quarter of 2026 was drivenby organic growth in average loans, one additional day in the third quarter of 2026 and a $1.5 million increase in purchase accounting accretion.The increase in net interest income from the third quarter of 2025 resulted primarily from organic growth in interest-earning assets, improvementin net interest margin and a decrease in funding costs. The NIM on an FTE basis(1) for the third quarter of 2026 was 3.78%, an increase of 5 bps from the second quarter of 2026, as a 6 bp increase in earning asset yields was partially offset by a 1 bp increase in the cost of funds. The NIM on an FTE basis(1) increased 12 bps from the thirdquarter of 2025 due primarily to a decrease in the cost of funds.Earning asset yields for the three months ended September 30, 2026 increased 6 bps from the prior quarter to 5.11%. Loan yields for the threemonths ended September 30, 2026 increased 5 bps from the prior quarter to 5.69%, primarily due to the repricing of cash flows into higher ratesand an increase in purchase accounting accretion during the quarter. Average earning assets increased $173.6 million, or 1.2%, from the secondquarter of 2026 and grew $334.7 million, or 2.3%, from the third quarter of 2025 due primarily to organic loan growth.Total cost of deposits, including noninterest bearing deposits, was 1.32% for the third quarter of 2026, a decrease of 1 bp from the prior quarter,primarily due to the decrease in the cost of time deposits. Total cost of deposits decreased 20 bps from the same period in the prior year.Total cost of funds for the three months ended September 30, 2026 was 1.42%, an increase of 1 bp from the prior quarter and a decrease of 18 bpsfrom the third quarter of 2025. 2
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◾ ◾ ◾ ◾ ◾ ◾ ◾ ◾ ◾ ◾ ◾ Asset Quality and Allowance for Loan Losses Net charge-offs to total average loans for the third quarter of 2026 was 14 bps, compared to 15 bps in the prior quarter.Nonperforming assets to total assets was 0.43% at September 30, 2026, up from 0.40% at June 30, 2026 and up from 0.33% at December 31,2025. The increase in nonperforming assets was primarily due to additional commercial lending relationships placed in nonaccrual status duringthe quarter and an increase in residential past due loans. Past due loans to total loans decreased 28 bps from June 30, 2026, driven primarily by adecrease in past due commercial loans.Provision expense for the three months ended September 30, 2026 was $3.8 million, compared to $6.1 million for the second quarter of 2026. Thedecrease in the provision for loan losses during the quarter was primarily due to a lower level of loan growth compared to the prior quarter and adecrease in the allowance for loan losses.The allowance for loan losses was $140.0 million, or 1.17% of total loans, at September 30, 2026, compared to $140.5 million, or 1.18% of totalloans, at June 30, 2026 and compared to $138.0 million, or 1.19% of total loans, at December 31, 2025. The decrease in the allowance for loanlosses in the third quarter of 2026 was primarily driven by improvement in economic forecasts and portfolio mix changes, partially offset byproviding for the third quarter’s loan growth.The reserve for unfunded loan commitments was $6.0 million at September 30, 2026, compared to $5.5 million at June 30, 2026 and $5.8 millionat December 31, 2025. Noninterest Income Total noninterest income, excluding securities gains, was $52.9 million for the three months ended September 30, 2026, up $3.3 million, or 6.7%from the second quarter of 2026, and up $1.5 million, or 2.9%, from the third quarter of 2025.Service charges on deposit accounts increased $0.7 million, or 13.4%, from the prior quarter and increased $0.8 million, or 15.5%, from the thirdquarter of 2025, reflecting the impact of deposit account pricing initiatives implemented during the quarter, changes in customer account mix andhigher transaction-related fee income.Retirement plan administration fees increased $0.4 million, or 2.2%, from the prior quarter and increased $1.4 million, or 8.7%, from the thirdquarter of 2025. The increase from the prior quarter and the third quarter of 2025 was driven by higher activity-based fees, additional fees fromnew customer relationships and increased market values of assets under administration.Insurance revenues increased $1.2 million from the prior quarter driven by seasonal renewals and was consistent with the third quarter of 2025.Bank owned life insurance income was consistent with the prior quarter and decreased from the third quarter of 2025 due to a $0.9 million gainrecognized in the third quarter of 2025.Other income increased $0.7 million from the prior quarter driven by higher commercial loan swap fees and decreased $0.5 million from the thirdquarter of 2025 primarily due to a gain recognized in the third quarter of 2025 related to the finalization of a third-party contractual arrangement. 3
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◾ ◾ ◾ ◾ ◾ ◾ ◾ ◾ ◾ ◾ Noninterest Expense Total noninterest expense was $115.2 million for the third quarter of 2026, compared to $111.4 million for the second quarter of 2026 and $111.1million for the third quarter of 2025. Excluding acquisition expenses of $1.1 million in the third quarter of 2025, noninterest expense was 4.7%higher than the third quarter of 2025 primarily due to the continued investments in our people, markets and infrastructure.Salaries and benefits increased $0.6 million from the prior quarter driven by one additional payroll day and higher incentive compensationexpenses, which were partially offset by lower medical expenses and lower payroll taxes. The increase from the third quarter of 2025 was drivenby annual merit pay increases and higher employee benefit costs.Technology and data services were consistent with the prior quarter and increased $0.9 million from the third quarter of 2025 primarily due to thetiming of planned activities and ongoing investment in enterprise technology initiatives.Occupancy costs were consistent with the prior quarter and increased $0.5 million from the third quarter of 2025. The $0.5 million increase fromthe third quarter of 2025 was driven by higher facilities costs related to new branch banking locations.Reserve for unfunded loan commitments was $0.5 million for the three months ended September 30, 2026, compared to a release of $0.3 millionfor the three months ended September 30, 2025.Other expenses increased $2.3 million from the prior quarter and increased $0.5 million from the third quarter of 2025. The increase from the priorquarter was primarily driven by an increase in activity-based costs. The increase from the third quarter of 2025 reflects higher activity-based costs,partially offset by lower FDIC insurance premiums. Income Taxes The effective tax rate for the third quarter of 2026 was 23.7%, up from 23.3% in the prior quarter and down from 24.2% for the third quarter of2025. The increase in the effective tax rate from the prior quarter was due to a lower level of tax-exempt income as a percentage of total taxableincome. The decrease in the effective tax rate from the third quarter of 2025 was due to acquisition related tax items in 2025 that did not recur. Capital Tangible common equity to tangible assets(1) was 9.07% at September 30, 2026. Tangible book value per share(1) was $27.75 at September 30, 2026, which increased 4.6% from $26.54 at December 31, 2025 and increased 8.8% from $25.51 at September 30, 2025.Stockholders’ equity increased $46.3 million from December 31, 2025 driven by net income generation of $162.2 million, partially offset bydividends declared of $59.2 million, the repurchase of common stock of $15.0 million and a $44.6 million increase in accumulated othercomprehensive loss reflecting the change in the fair value of securities available for sale.As of September 30, 2026, the CET1 capital ratio was 12.43%, the leverage ratio was 9.99% and the total risk-based capital ratio was 14.36%. 4
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◾ ◾ Dividend The Board of Directors approved a fourth-quarter cash dividend of $0.40 per share at a meeting held earlier today. The dividend represents a $0.03per share, or 8.1%, increase over the dividend paid in the third quarter of 2025. This is the Company’s fourteenth consecutive year of annualdividend increases. The dividend will be paid on December 15, 2026 to stockholders of record as of December 1, 2026. Stock Repurchase The Company purchased 20,118 shares of its common stock during the third quarter of 2026 for a total of $1.0 million at an average price of$50.02 per share under its previously announced stock repurchase program. The Company may repurchase shares of its common stock from timeto time to mitigate the potential dilutive effects of stock-based incentive plans and other potential uses of common stock for corporate purposes.Since quarter end, the Company has purchased 113,364 shares of common stock under the plan. As of October 24, 2026, there were 1,297,923shares available for repurchase under this plan. Conference Call and Webcast The Company will host a conference call at 10:00 a.m. (Eastern) Wednesday, October 28, 2026, to review the third quarter 2026 financial results. The audiowebcast link, along with the corresponding presentation slides, will be available on the Company’s Event Calendar page atwww.nbtbancorp.com/bn/presentations-events.html#events and will be archived for twelve months. Corporate Overview NBT Bancorp Inc. is a financial holding company headquartered in Norwich, NY, with total assets of $16.39 billion at September 30, 2026. The Companyprimarily operates through NBT Bank, N.A., a full-service community bank, and through two financial services companies. NBT Bank, N.A. has 174 bankinglocations in New York, Pennsylvania, Vermont, Massachusetts, New Hampshire, Maine and Connecticut. EPIC Retirement Plan Services, based in Rochester,NY, is a national benefits administration firm. NBT Insurance Agency, LLC, based in Norwich, NY, is a full-service regional insurance agency. Moreinformation about NBT and its divisions is available online at: www.nbtbancorp.com, www.nbtbank.com, www.epicrps.com andwww.nbtbank.com/Insurance. 5
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Forward-Looking Statements This press release contains forward-looking statements, as defined in the Private Securities Litigation Reform Act of 1995. These statements may be identifiedby the use of phrases such as “anticipate,” “believe,” “expect,” “forecasts,” “projects,” “will,” “can,” “would,” “should,” “could,” “may,” or other similarterms. There are a number of factors, many of which are beyond the Company’s control, that could cause actual results to differ materially from thosecontemplated by any forward-looking statements. Factors that may cause actual results to differ materially from those contemplated by such forward-lookingstatements include, among others, the following possibilities: (1) local, regional, national and international economic conditions, including actual or potentialstress 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 inthe level of nonperforming assets and charge-offs; (3) changes in estimates of future reserve requirements based upon the periodic review thereof underrelevant regulatory and accounting requirements; (4) the effects of and changes in trade and monetary and fiscal policies and laws, including the interest ratepolicies of the Federal Reserve Board (“FRB”) and international trade disputes (including threatened or implemented tariffs imposed by the U.S. andthreatened 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 andservices 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 acquiredbusinesses; (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 theCompany and its subsidiaries must comply, including those under the Dodd-Frank Act, and the Economic Growth, Regulatory Relief, and ConsumerProtection 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 PublicCompany Accounting Oversight Board, the Financial Accounting Standards Board and other accounting standard setters; (17) changes in the Company’sorganization, compensation and benefit plans; (18) the costs and effects of legal and regulatory developments, including the resolution of legal proceedings orregulatory or other governmental inquiries, and the results of regulatory examinations or reviews; (19) greater than expected costs or difficulties related to theintegration 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 on which they are made, andadvises readers that various factors, including, but not limited to, those described above and other factors discussed in the Company’s annual and quarterlyreports previously filed with the SEC, could affect the Company’s financial performance and could cause the Company’s actual results or circumstances forfuture 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 toany forward-looking statements to reflect the occurrence of anticipated or unanticipated events or circumstances after the date of such statements. Non-GAAP Measures This press release contains financial information determined by methods other than in accordance with U.S. generally accepted accounting principles(“GAAP”). Where non-GAAP disclosures are used in this press release, the comparable GAAP measure, as well as a reconciliation to the comparable GAAPmeasure, is provided in the accompanying tables. The Company presents certain financial measures on an “operating” and “tangible” basis. Operating resultsexclude the after-tax impact of acquisition expenses, acquisition-related provision for credit losses and securities gains (losses). Tangible results excludegoodwill and intangible assets, net of accumulated amortization and applicable deferred tax effects. Management believes these non-GAAP measures provideinvestors and analysts with additional insight into the Company's core operating performance and facilitate comparisons across reporting periods and withfinancial institutions that have not engaged in acquisitions. The Company also reports net interest income and net interest margin on an FTE basis. The FTEadjustment reflects the tax benefit associated with tax-exempt securities and loans by assuming they were taxable. Management believes that presentation ofnet interest income and net interest margin on an FTE basis is a standard practice within the banking industry that enhances comparability among financialinstitutions. Non-GAAP measures should not be considered a substitute for financial measures determined in accordance with GAAP and investors shouldconsider the Company’s performance and financial condition as reported under GAAP and all other relevant information when assessing the performance orfinancial condition of the Company. Amounts previously reported in the consolidated financial statements are reclassified whenever necessary to conform tocurrent period presentation. 6
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NBT Bancorp Inc. and SubsidiariesSelected Financial Data (unaudited, dollars in thousands except per share data) 2026 2025 3rd Q 2nd Q 1st Q 4th Q 3rd Q Profitability (reported) Diluted earnings per share $ 1.11 $ 1.02 $ 0.98 $ 1.06 $ 1.03 Weighted average diluted common shares outstanding 52,239,443 52,238,983 52,352,800 52,524,388 52,642,688 Return on average assets(2) 1.41% 1.32% 1.30% 1.37% 1.35% Return on average equity(2) 11.81% 11.04% 10.89% 11.81% 11.86% Return on average tangible common equity(1)(2) 16.54% 15.65% 15.59% 17.05% 17.35% Net interest margin(1)(2) 3.78% 3.73% 3.72% 3.65% 3.66% 9 Months Ended September 30, 2026 2025 Profitability (reported) Diluted earnings per share $ 3.10 $ 2.26 Weighted average diluted common shares outstanding 52,269,406 50,325,671 Return on average assets(2) 1.34% 1.01% Return on average equity(2) 11.25% 8.99% Return on average tangible common equity(1)(2) 15.94% 13.07% Net interest margin(1)(2) 3.74% 3.57% 2026 2025 3rd Q 2nd Q 1st Q 4th Q 3rd Q Profitability (operating) Diluted earnings per share(1) $ 1.11 $ 1.01 $ 0.97 $ 1.05 $ 1.05 Return on average assets(1)(2) 1.41% 1.32% 1.29% 1.37% 1.37% Return on average equity(1)(2) 11.80% 11.01% 10.82% 11.79% 12.05% Return on average tangible common equity(1)(2) 16.53% 15.61% 15.50% 17.02% 17.61% 9 Months Ended September 30, 2026 2025 Profitability (operating) Diluted earnings per share(1) $ 3.09 $ 2.76 Return on average assets(1)(2) 1.34% 1.24% Return on average equity(1)(2) 11.22% 10.96% Return on average tangible common equity(1)(2) 15.89% 15.78% 2026 2025 3rd Q 2nd Q 1st Q 4th Q 3rd Q Balance sheet data Short-term interest-bearing accounts $ 106,732 $ 107,489 $ 564,514 $ 301,958 $ 394,485 Securities available for sale 1,989,360 2,006,206 1,918,526 1,862,838 1,813,194 Securities held to maturity 808,645 755,086 748,607 762,756 771,474 Net loans 11,808,512 11,733,581 11,408,655 11,460,114 11,456,134 Total assets 16,393,701 16,214,957 16,204,406 15,995,121 16,112,584 Total deposits 13,586,441 13,537,302 13,742,966 13,499,193 13,660,918 Total borrowings 569,110 471,195 297,407 327,422 319,358 Total liabilities 14,451,222 14,271,038 14,290,009 14,098,905 14,259,438 Stockholders' equity 1,942,479 1,943,919 1,914,397 1,896,216 1,853,146 Capital Equity to assets 11.85% 11.99% 11.81% 11.85% 11.50% Tangible equity ratio(1) 9.07% 9.16% 8.96% 8.95% 8.58% Book value per share $ 37.40 $ 37.42 $ 36.81 $ 36.32 $ 35.33 Tangible book value per share(1) $ 27.75 $ 27.71 $ 27.05 $ 26.54 $ 25.51 Leverage ratio 9.99% 9.85% 9.70% 9.48% 9.34% Common equity tier 1 capital ratio 12.43% 12.24% 12.34% 12.07% 11.80% Tier 1 capital ratio 12.43% 12.24% 12.34% 12.07% 11.80% Total risk-based capital ratio 14.36% 14.18% 14.52% 14.24% 13.97% Common stock price (end of period) $ 50.16 $ 49.37 $ 42.58 $ 41.52 $ 41.76 7
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NBT Bancorp Inc. and SubsidiariesAsset Quality and Consolidated Loan Balances (unaudited, dollars in thousands) 2026 2025 3rd Q 2nd Q 1st Q 4th Q 3rd Q Asset quality Nonaccrual loans $ 65,527 $ 62,898 $ 57,903 $ 44,592 $ 46,450 90 days past due and still accruing 4,454 2,410 3,352 7,131 6,966 Total nonperforming loans 69,981 65,308 61,255 51,723 53,416 Other real estate owned 347 - 22 402 267 Total nonperforming assets 70,328 65,308 61,277 52,125 53,683 Allowance for loan losses 140,000 140,500 138,600 138,000 139,000 Asset quality ratios Allowance for loan losses to total loans 1.17% 1.18% 1.20% 1.19% 1.20%Total nonperforming loans to total loans 0.59% 0.55% 0.53% 0.45% 0.46%Total nonperforming assets to total assets 0.43% 0.40% 0.38% 0.33% 0.33%Allowance for loan losses to total nonperforming loans 200.05% 215.13% 226.27% 266.81% 260.22% Past due loans to total loans(3) 0.35% 0.63% 0.40% 0.38% 0.38% Net charge-offs to average loans(2) 0.14% 0.15% 0.17% 0.16% 0.15% 2026 2025 3rd Q 2nd Q 1st Q 4th Q 3rd Q Loan net charge-offs by line of business Commercial $ 1,338 $ 1,217 $ 2,285 $ 1,232 $ 1,047 Residential mortgage and home equity 91 22 (106) (15) 18 Indirect auto 737 439 843 877 679 Residential solar and other consumer 2,126 2,558 1,955 2,671 2,556 Total loan net charge-offs $ 4,292 $ 4,236 $ 4,977 $ 4,765 $ 4,300 2026 2025 3rd Q 2nd Q 1st Q 4th Q 3rd Q Allowance for loan losses as a percentage of loans by segment Commercial & industrial 0.92% 0.85% 0.89% 0.76% 0.81%Commercial real estate 1.01% 1.06% 1.05% 1.06% 1.13%Residential mortgage 1.00% 0.99% 0.99% 1.06% 1.05%Auto 0.70% 0.70% 0.70% 0.68% 0.70%Residential solar and other consumer 4.44% 4.39% 4.39% 4.09% 3.62% Total 1.17% 1.18% 1.20% 1.19% 1.20% 2026 2025 3rd Q 2nd Q 1st Q 4th Q 3rd Q Loans by line of business Commercial & industrial $ 1,748,981 $ 1,755,123 $ 1,669,624 $ 1,671,974 $ 1,644,218 Commercial real estate 4,955,896 4,893,543 4,783,384 4,798,957 4,830,761 Residential mortgage 2,584,169 2,558,338 2,539,249 2,537,593 2,528,565 Home equity 481,142 465,340 447,462 448,113 435,584 Indirect auto 1,449,719 1,450,482 1,333,017 1,340,524 1,327,689 Residential solar and other consumer 728,605 751,255 774,519 800,953 828,317 Total loans $ 11,948,512 $ 11,874,081 $ 11,547,255 $ 11,598,114 $ 11,595,134 8
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NBT Bancorp Inc. and SubsidiariesConsolidated Balance Sheets (unaudited, in thousands) September 30, December 31, 2026 2025 Assets Cash and due from banks $ 215,468 $ 185,158 Short-term interest-bearing accounts 106,732 301,958 Equity securities, at fair value 49,949 48,760 Securities available for sale, at fair value 1,989,360 1,862,838 Securities held to maturity (fair value $726,386 and $702,577, respectively) 808,645 762,756 Federal Reserve and Federal Home Loan Bank stock 56,663 44,575 Loans held for sale 841 1,108 Loans 11,948,512 11,598,114 Less allowance for loan losses 140,000 138,000 Net loans $ 11,808,512 $ 11,460,114 Premises and equipment, net 96,551 99,277 Goodwill 453,278 453,278 Intangible assets, net 48,095 57,656 Bank owned life insurance 317,201 317,733 Other assets 442,406 399,910 Total assets $ 16,393,701 $ 15,995,121 Liabilities and stockholders' equity Demand (noninterest bearing) $ 3,919,754 $ 3,800,209 Savings, interest-bearing checking and money market 8,400,105 8,206,539 Time 1,266,582 1,492,445 Total deposits $ 13,586,441 $ 13,499,193 Short-term borrowings 414,397 148,069 Long-term debt 42,975 43,176 Subordinated debt, net - 24,509 Junior subordinated debt 111,738 111,668 Other liabilities 295,671 272,290 Total liabilities $ 14,451,222 $ 14,098,905 Total stockholders' equity $ 1,942,479 $ 1,896,216 Total liabilities and stockholders' equity $ 16,393,701 $ 15,995,121 9
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NBT Bancorp Inc. and SubsidiariesConsolidated Statements of Income (unaudited, in thousands except per share data) Three Months EndedSeptember 30, Nine Months EndedSeptember 30, 2026 2025 2026 2025 Interest, fee and dividend income Interest and fees on loans $ 170,714 $ 169,301 $ 495,580 $ 466,265 Securities available for sale 15,633 12,063 43,885 33,934 Securities held to maturity 4,598 4,595 13,374 14,379 Other 1,447 4,508 7,960 7,870 Total interest, fee and dividend income $ 192,392 $ 190,467 $ 560,799 $ 522,448 Interest expense Deposits $ 44,939 $ 52,101 $ 134,653 $ 142,908 Short-term borrowings 3,191 816 5,178 2,728 Long-term debt 450 450 1,336 1,012 Subordinated debt - 547 1,121 4,370 Junior subordinated debt 1,728 1,890 5,116 5,324 Total interest expense $ 50,308 $ 55,804 $ 147,404 $ 156,342 Net interest income $ 142,084 $ 134,663 $ 413,395 $ 366,106 Provision for loan losses $ 3,792 $ 3,100 $ 15,505 $ 15,467 Provision for loan losses - acquisition day 1 non-PCD - - - 13,022 Total provision for loan losses $ 3,792 $ 3,100 $ 15,505 $ 28,489 Net interest income after provision for loan losses $ 138,292 $ 131,563 $ 397,890 $ 337,617 Noninterest income Service charges on deposit accounts $ 5,891 $ 5,100 $ 16,353 $ 13,921 Card services income 6,818 6,389 19,459 17,783 Retirement plan administration fees 17,299 15,913 50,793 47,481 Wealth management 11,194 11,103 33,276 32,727 Insurance services 5,400 5,260 14,059 14,118 Bank owned life insurance income 2,395 3,240 7,559 8,817 Net securities gains (losses) 62 (2) 679 6 Other 3,886 4,402 10,630 10,936 Total noninterest income $ 52,945 $ 51,405 $ 152,808 $ 145,789 Noninterest expense Salaries and employee benefits $ 69,567 $ 66,636 $ 207,330 $ 191,485 Technology and data services 12,074 11,180 35,434 32,222 Occupancy 9,559 9,053 30,044 27,118 Professional fees and outside services 5,900 5,941 17,116 15,914 Amortization of intangible assets 3,022 3,429 9,561 8,582 Reserve for unfunded loan commitments 450 (317) 150 1,475 Acquisition expenses - 1,125 - 19,526 Other 14,592 14,096 39,199 37,331 Total noninterest expense $ 115,164 $ 111,143 $ 338,834 $ 333,653 Income before income tax expense $ 76,073 $ 71,825 $ 211,864 $ 149,753 Income tax expense 18,045 17,354 49,664 36,027 Net income $ 58,028 $ 54,471 $ 162,200 $ 113,726 Earnings Per Share Basic $ 1.12 $ 1.04 $ 3.12 $ 2.27 Diluted $ 1.11 $ 1.03 $ 3.10 $ 2.26 10
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NBT Bancorp Inc. and SubsidiariesQuarterly Consolidated Statements of Income (unaudited, in thousands except per share data) 2026 2025 3rd Q 2nd Q 1st Q 4th Q 3rd Q Interest, fee and dividend income Interest and fees on loans $ 170,714 $ 163,764 $ 161,102 $ 166,046 $ 169,301 Securities available for sale 15,633 14,770 13,482 13,081 12,063 Securities held to maturity 4,598 4,426 4,350 4,398 4,595 Other 1,447 2,801 3,712 5,019 4,508 Total interest, fee and dividend income $ 192,392 $ 185,761 $ 182,646 $ 188,544 $ 190,467 Interest expense Deposits $ 44,939 $ 44,879 $ 44,835 $ 49,426 $ 52,101 Short-term borrowings 3,191 1,165 822 915 816 Long-term debt 450 445 441 451 450 Subordinated debt - 611 510 505 547 Junior subordinated debt 1,728 1,698 1,690 1,807 1,890 Total interest expense $ 50,308 $ 48,798 $ 48,298 $ 53,104 $ 55,804 Net interest income $ 142,084 $ 136,963 $ 134,348 $ 135,440 $ 134,663 Provision for loan losses $ 3,792 $ 6,136 $ 5,577 $ 3,765 $ 3,100 Provision for loan losses - acquisition day 1 non-PCD - - - - - Total provision for loan losses $ 3,792 $ 6,136 $ 5,577 $ 3,765 $ 3,100 Net interest income after provision for loan losses $ 138,292 $ 130,827 $ 128,771 $ 131,675 $ 131,563 Noninterest income Service charges on deposit accounts $ 5,891 $ 5,194 $ 5,268 $ 5,146 $ 5,100 Card services income 6,818 6,613 6,028 6,205 6,389 Retirement plan administration fees 17,299 16,928 16,566 14,104 15,913 Wealth management 11,194 10,948 11,134 12,028 11,103 Insurance services 5,400 4,177 4,482 3,917 5,260 Bank owned life insurance income 2,395 2,505 2,659 3,576 3,240 Net securities gains (losses) 62 175 442 142 (2) Other 3,886 3,187 3,557 4,586 4,402 Total noninterest income $ 52,945 $ 49,727 $ 50,136 $ 49,704 $ 51,405 Noninterest expense Salaries and employee benefits $ 69,567 $ 69,004 $ 68,759 $ 65,993 $ 66,636 Technology and data services 12,074 11,850 11,510 11,803 11,180 Occupancy 9,559 9,475 11,010 9,267 9,053 Professional fees and outside services 5,900 5,662 5,554 5,826 5,941 Amortization of intangible assets 3,022 3,191 3,348 3,362 3,429 Reserve for unfunded loan commitments 450 - (300) (100) (317) Acquisition expenses - - - - 1,125 Other 14,592 12,256 12,351 15,537 14,096 Total noninterest expense $ 115,164 $ 111,438 $ 112,232 $ 111,688 $ 111,143 Income before income tax expense $ 76,073 $ 69,116 $ 66,675 $ 69,691 $ 71,825 Income tax expense 18,045 16,086 15,533 14,182 17,354 Net income $ 58,028 $ 53,030 $ 51,142 $ 55,509 $ 54,471 Earnings Per Share Basic $ 1.12 $ 1.02 $ 0.98 $ 1.06 $ 1.04 Diluted $ 1.11 $ 1.02 $ 0.98 $ 1.06 $ 1.03 11
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NBT Bancorp Inc. and SubsidiariesAverage Quarterly Balance Sheets (unaudited, dollars in thousands) AverageBalance Yield /Rates AverageBalance Yield /Rates AverageBalance Yield /Rates AverageBalance Yield /Rates AverageBalance Yield /Rates Q3 - 2026 Q2 - 2026 Q1 - 2026 Q4 - 2025 Q3 - 2025 Assets Short-term interest-bearing accounts $ 105,785 3.21% $ 248,882 3.47% $ 356,403 3.56% $ 450,719 3.93% $ 338,919 4.60% Securities taxable(1) 2,672,383 2.76% 2,633,502 2.70% 2,547,841 2.62% 2,513,465 2.55% 2,464,271 2.46% Securities tax-exempt(1)(4) 230,409 3.57% 209,441 3.59% 192,429 3.63% 194,638 3.48% 196,728 3.48%FRB and FHLB stock 52,157 4.50% 45,925 5.64% 44,589 5.32% 44,632 4.95% 42,790 5.37% Loans(1)(5) 11,917,503 5.69% 11,666,871 5.64% 11,553,561 5.66% 11,564,950 5.70% 11,600,816 5.80% Total interest-earning assets $14,978,237 5.11% $14,804,621 5.05% $14,694,823 5.06% $14,768,404 5.08% $14,643,524 5.18%Other assets 1,306,010 1,300,564 1,315,235 1,317,791 1,344,775 Total assets $16,284,247 $16,105,185 $16,010,058 $16,086,195 $15,988,299 Liabilities and stockholders' equity Money market deposits $ 4,301,004 2.66% $ 4,273,336 2.64% $ 4,188,180 2.64% $ 4,222,137 2.78% $ 4,077,741 3.01%Interest-bearing checking deposits 2,067,511 1.04% 2,118,007 1.02% 2,117,278 1.04% 2,094,105 1.14% 2,059,009 1.10%Savings deposits 1,987,029 0.43% 2,015,461 0.47% 1,953,096 0.42% 1,919,032 0.42% 1,947,627 0.43%Time deposits 1,281,998 2.64% 1,351,024 2.68% 1,455,142 2.83% 1,533,062 3.05% 1,633,647 3.26% Total interest-bearing deposits $ 9,637,542 1.85% $ 9,757,828 1.84% $ 9,713,696 1.87% $ 9,768,336 2.01% $ 9,718,024 2.13%Federal funds purchased 68,913 3.80% 15,330 3.74% - - - - - - Repurchase agreements 119,030 2.62% 112,557 2.55% 126,024 2.65% 137,832 2.63% 123,573 2.62%Short-term borrowings 171,228 4.04% 31,291 3.92% - - - - 11 4.61%Long-term debt 43,005 4.15% 43,072 4.14% 43,139 4.15% 44,216 4.05% 44,802 3.98%Subordinated debt, net - - 24,259 10.10% 24,655 8.39% 24,338 8.23% 27,085 8.01%Junior subordinated debt 111,726 6.14% 111,702 6.10% 111,679 6.14% 111,654 6.42% 111,629 6.72% Total interest-bearing liabilities $10,151,444 1.97% $10,096,039 1.94% $10,019,193 1.95% $10,086,376 2.09% $10,025,124 2.21%Demand deposits 3,900,192 3,814,717 3,811,907 3,848,626 3,849,288 Other liabilities 283,320 267,341 273,936 287,158 292,294 Stockholders' equity 1,949,291 1,927,088 1,905,022 1,864,035 1,821,593 Total liabilities and stockholders' equity $16,284,247 $16,105,185 $16,010,058 $16,086,195 $15,988,299 Interest rate spread 3.14% 3.11% 3.11% 2.99% 2.97% Net interest margin (FTE)(1)(2) 3.78% 3.73% 3.72% 3.65% 3.66% Total cost of deposits $13,537,734 1.32% $13,572,545 1.33% $13,525,603 1.34% $13,616,962 1.44% $13,567,312 1.52%Total cost of funds 14,051,636 1.42% 13,910,756 1.41% 13,831,100 1.42% 13,935,002 1.51% 13,874,412 1.60% 12
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NBT Bancorp Inc. and SubsidiariesAverage Year-to-Date Balance Sheets (unaudited, dollars in thousands) AverageBalance Interest Yield/Rates AverageBalance Interest Yield/Rates Nine Months Ended September 30, 2026 2025 Assets Short-term interest-bearing accounts $ 236,105 $ 6,138 3.48% $ 183,929 $ 6,318 4.59% Securities taxable(1) 2,618,365 52,780 2.70% 2,451,356 43,814 2.39% Securities tax-exempt(1)(4) 210,899 5,669 3.59% 212,670 5,695 3.58%FRB and FHLB stock 47,585 1,822 5.12% 38,512 1,552 5.39% Loans(1)(5) 11,713,978 496,242 5.66% 10,888,339 466,954 5.73% Total interest-earning assets $ 14,826,932 $ 562,651 5.07% $ 13,774,806 $ 524,333 5.09% Other assets 1,307,235 1,226,118 Total assets $ 16,134,167 $ 15,000,924 Liabilities and stockholders' equity Money market deposits $ 4,254,587 $ 84,177 2.65% $ 3,796,235 $ 85,616 3.02%Interest-bearing checking deposits 2,100,750 16,243 1.03% 1,882,602 13,829 0.98%Savings deposits 1,985,319 6,495 0.44% 1,791,819 3,911 0.29%Time deposits 1,362,087 27,738 2.72% 1,562,470 39,552 3.38% Total interest-bearing deposits $ 9,702,743 $ 134,653 1.86% $ 9,033,126 $ 142,908 2.12%Federal funds purchased 28,333 803 3.79% 5,495 185 4.50%Repurchase agreements 119,178 2,325 2.61% 107,067 2,142 2.67%Short-term borrowings 68,134 2,050 4.02% 11,604 401 4.62%Long-term debt 43,071 1,336 4.15% 34,456 1,012 3.93%Subordinated debt, net 16,214 1,121 9.24% 94,022 4,370 6.21%Junior subordinated debt 111,703 5,116 6.12% 106,963 5,324 6.65% Total interest-bearing liabilities $ 10,089,376 $ 147,404 1.95% $ 9,392,733 $ 156,342 2.23% Demand deposits 3,842,595 3,624,662 Other liabilities 274,900 291,527 Stockholders' equity 1,927,296 1,692,002 Total liabilities and stockholders' equity $ 16,134,167 $ 15,000,924 Net interest income (FTE)(1) $ 415,247 $ 367,991 Interest rate spread 3.12% 2.86% Net interest margin (FTE)(1)(2) 3.74% 3.57% Taxable equivalent adjustment $ 1,852 $ 1,885 Net interest income $ 413,395 $ 366,106 Total cost of deposits $ 13,545,338 $ 134,653 1.33% $ 12,657,788 $ 142,908 1.51%Total cost of funds 13,931,971 147,404 1.41% 13,017,395 156,342 1.61% 13
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(1) The following tables provide the Non-GAAP reconciliations for the Non-GAAP measures contained in this release: Non-GAAP measures (unaudited, dollars in thousands except per share data) 2026 2025 3rd Q 2nd Q 1st Q 4th Q 3rd Q Operating net income Net income $ 58,028 $ 53,030 $ 51,142 $ 55,509 $ 54,471 Acquisition expenses - - - - 1,125 Securities (gains) losses (62) (175) (442) (142) 2 Adjustments to net income $ (62) $ (175) $ (442) $ (142) $ 1,127 Adjustments to net income (net of tax) $ (47) $ (134) $ (338) $ (113) $ 851 Operating net income $ 57,981 $ 52,896 $ 50,804 $ 55,396 $ 55,322 Operating diluted earnings per share $ 1.11 $ 1.01 $ 0.97 $ 1.05 $ 1.05 9 Months Ended September 30, 2026 2025 Operating net income Net income $ 162,200 $ 113,726 Acquisition expenses - 19,526 Acquisition-related provision for credit losses - 13,022 Acquisition-related reserve for unfunded loan commitments - 532 Securities (gains) (679) (6) Adjustments to net income $ (679) $ 33,074 Adjustments to net income (net of tax) $ (519) $ 24,971 Operating net income $ 161,681 $ 138,697 Operating diluted earnings per share $ 3.09 $ 2.76 2026 2025 3rd Q 2nd Q 1st Q 4th Q 3rd Q FTE adjustment Net interest income $ 142,084 $ 136,963 $ 134,348 $ 135,440 $ 134,663 Add: FTE adjustment 660 614 578 581 594 Net interest income (FTE) $ 142,744 $ 137,577 $ 134,926 $ 136,021 $ 135,257 Average earning assets $ 14,978,237 $ 14,804,621 $ 14,694,823 $ 14,768,404 $ 14,643,524 Net interest margin (FTE)(2) 3.78% 3.73% 3.72% 3.65% 3.66% 9 Months Ended September 30, 2026 2025 FTE adjustment Net interest income $ 413,395 $ 366,106 Add: FTE adjustment 1,852 1,885 Net interest income (FTE) $ 415,247 $ 367,991 Average earning assets $ 14,826,932 $ 13,774,806 Net interest margin (FTE)(2) 3.74% 3.57% Interest income for tax-exempt securities and loans have been adjusted to an FTE basis using the statutory Federal income tax rate of 21%. 14
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(1) (2) (3) (4) (5) The following tables provide the Non-GAAP reconciliations for the Non-GAAP measures contained in this release: Non-GAAP measures (continued) (unaudited, dollars in thousands) 2026 2025 3rd Q 2nd Q 1st Q 4th Q 3rd Q Tangible equity to tangible assets Total equity $ 1,942,479 $ 1,943,919 $ 1,914,397 $ 1,896,216 $ 1,853,146 Intangible assets 501,373 504,395 507,586 510,934 515,090 Total assets $ 16,393,701 $ 16,214,957 $ 16,204,406 $ 15,995,121 $ 16,112,584 Tangible equity to tangible assets 9.07% 9.16% 8.96% 8.95% 8.58%Tangible book value per share Common shares outstanding 51,940,582 51,954,984 52,009,646 52,202,955 52,448,654 Tangible book value per share $ 27.75 $ 27.71 $ 27.05 $ 26.54 $ 25.51 2026 2025 3rd Q 2nd Q 1st Q 4th Q 3rd Q Return on average tangible common equity Net income $ 58,028 $ 53,030 $ 51,142 $ 55,509 $ 54,471 Amortization of intangible assets (net of tax) 2,267 2,393 2,511 2,522 2,572 Net income, excluding intangibles amortization $ 60,295 $ 55,423 $ 53,653 $ 58,031 $ 57,043 Average stockholders' equity $ 1,949,291 $ 1,927,088 $ 1,905,022 $ 1,864,035 $ 1,821,593 Less: average goodwill and other intangibles 503,142 506,308 509,643 513,728 517,271 Average tangible common equity $ 1,446,149 $ 1,420,780 $ 1,395,379 $ 1,350,307 $ 1,304,322 Return on average tangible common equity(2) 16.54% 15.65% 15.59% 17.05% 17.35% 9 Months Ended September 30, 2026 2025 Return on average tangible common equity Net income $ 162,200 $ 113,726 Amortization of intangible assets (net of tax) 7,171 6,437 Net income, excluding intangibles amortization $ 169,371 $ 120,163 Average stockholders' equity $ 1,927,296 $ 1,692,002 Less: average goodwill and other intangibles 506,341 462,657 Average tangible common equity $ 1,420,955 $ 1,229,345 Return on average tangible common equity 15.94% 13.07% Annualized. Total past due loans, defined as loans 30 days or more past due and in an accrual status. Securities are shown at average amortized cost. For purposes of these computations, nonaccrual loans and loans held for sale are included in the average loan balances outstanding. 15