NBT Bancorp rises after Q3 profit beat estimates

NBT Bancorp

25/10/2023 19:02

** Shares of NBT Bancorp  NBTB.O  rise 6.1% to $32.27
    ** After market close on Tuesday, the New York-based bank
reported Q3 adjusted profit of 84 cents/shr vs avg. analyst
estimate of 70 cents/shr, according to LSEG data
    ** Bank says acquisition of Salisbury Bancorp, which was
closed on Aug. 11, boosted Q3 net interest income and offset an
increase in funding costs
    ** Deal added $1.18 bln in loans and $1.31 bln in deposits
to its balance sheet - NBTB
    ** Up to last close, NBTB stock was down 27.57% YTD

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