NBT Bancorp falls after Q4 expenses tick higher

NBT Bancorp

28/01/2025 19:38

** Shares of regional lender NBT Bancorp  NBTB.O  fall as
much as 7.3%; last down 6.4% at $45.56
    ** NBTB late Monday posted a Q4 profit of 77 cents/shr, in
line with Wall Street expectations, according to data compiled
by LSEG
    ** However, Q4 non-interest expense jumped 13.7% to $100.8
mln, above analysts' estimates of $94.1 mln       
    ** The jump came as NBTB shelled out more on salaries and
benefits in Q4 compared with the quarter a year earlier    
    ** Meanwhile, non-performing assets to total assets was
0.38% compared with 0.28% a year earlier, driven by a commercial
real estate relationship that was written down to fair value    
    ** Raymond James says slip in credit metrics raises concerns
about future provisioning 
    ** Adds that it expected a modestly negative stock reaction,
given the credit slip-up and elevated expenses during Q4        
    ** NBTB shares jumped 14% in 2024 

 (Reporting by Arasu Kannagi Basil in Bengaluru)
 ((ArasuKannagi.Basil@thomsonreuters.com;))