What NBT Bank does

NBT Bancorp Inc. is a Delaware-incorporated financial holding company headquartered in Norwich, New York, that operates a community banking franchise across seven northeastern U.S. states (New York, Pennsylvania, Vermont, Massachusetts, New Hampshire, Maine, and Connecticut). Founded in 1986 with roots extending more than 165 years in community banking, the company had $16.20 billion in total assets, $13.74 billion in deposits, and $11.55 billion in loans as of March 31, 2026, supported by 2,110 employees and 176 full-service banking locations. The business is organized into three subsidiaries: NBT Bank, N.A. (the core commercial and retail banking platform offering personal banking, commercial lending, treasury management, and wealth management services), EPIC Retirement Plan Services (a national benefits administration firm serving more than 375,000 retirement plan participants across all 50 states from offices in Rochester NY, St. Louis MO, Peoria IL, and Portland ME), and NBT Insurance Agency, LLC (a Norwich NY-based regional insurance brokerage).

The company makes money primarily through net interest income, with a Q1 2026 net interest margin of 3.72% (FTE basis) and 73% of revenue tied to lending and securities activity. Noninterest income, contributing 27% of Q1 2026 revenue at $49.7 million, is generated by deposit account service charges, card services, retirement plan administration fees (EPIC RPS), wealth management fees, insurance commissions via NBT Insurance Agency, and bank-owned life insurance income. Distribution is multi-channel: physical branches (176), digital and mobile banking, plus direct sales via EPIC RPS (national) and NBT Insurance (regional). Distribution is supplemented by no proprietary technology platform of note beyond standard digital banking; however, the 2026 appointment of a Chief Commercial Innovation Officer signals intent to build data and AI capability.

Growth has been driven by a programmatic M&A strategy: NBT acquired Salisbury Bancorp in August 2023 for ~$204 million (its first bank deal since 2013) and Evans Bancorp in May 2025 for ~$236 million, adding a combined 200+ employees, 18+ branches, and $1.86 billion in deposits. The company is led by CEO Scott A. Kingsley (appointed 2024, formerly COO/CFO of Community Bank System) and has delivered 13 consecutive years of dividend increases, a 12.34% CET1 ratio, and a nonperforming asset ratio of 0.38% of total assets as of Q1 2026.

Name

NBT Bank

Legal name

NBT Bancorp Inc.

Website

https://nbtbancorp.com

Company type

Public

Founded year

1986

Operating status

Operating

Headcount range

11–50 employees

Short description

NBT Bancorp is a $16.2 billion-asset community banking holding company operating 176 branches across seven northeastern U.S. states through NBT Bank, N.A., with national reach in retirement plan administration via EPIC RPS and regional insurance through NBT Insurance Agency.

Ownership category

akta.pro rank

Headquarters

HQ city

Norwich

HQ country

United States

HQ region

North America

Offices8 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Infrastructure, Marketing or Sales

Revenue model

1. Net Interest Income: Interest income from loan portfolio and investment securities minus interest paid on deposits and borrowings. This is the primary revenue driver, with net interest margin of 3.72% (FTE basis) in Q1 2026.
2. Noninterest Income: Includes service charges on deposit accounts, card services income, retirement plan administration fees (EPIC RPS), wealth management fees, insurance revenues, bank owned life insurance income, and other income. Total noninterest income of $49.7 million in Q1 2026, representing 27% of total revenues.
3. Fee-based Business Lines: EPIC Retirement Plan Services generates fees from customized consulting, recordkeeping, actuarial and administrative services for retirement plans across all 50 states, serving over 375,000 retirement plan participants. NBT Insurance Agency generates insurance commissions.

Go-to-market motion1 record

Distribution channels4 records

Marketing channels4 records

Core offering

NBT Bancorp Inc. is a financial holding company that operates through NBT Bank, N.A. (a full-service community bank), EPIC Retirement Plan Services (a national benefits administration firm), and NBT Insurance Agency, LLC. The company delivers personal banking, commercial banking, wealth management, retirement plan administration, and insurance products and services to consumers, businesses, employers, and government entities across seven northeastern U.S. states and, for retirement plans, nationwide.

Product overview

NBT Bancorp Inc. is a financial holding company that operates a platform-plus-subsidiaries model consisting of three main business units: NBT Bank, N.A. as the core banking platform providing personal banking, commercial banking, and wealth management services through digital channels and over 170 banking locations across seven northeastern U.S. states; EPIC Retirement Plan Services as a national benefits administration subsidiary; and NBT Insurance Agency, LLC as a full-service regional insurance agency. The company's flagship banking product is complemented by specialized offerings including the NBT iSelect Account for accessible banking.

Differentiator

Problem solved

Functional benefit

Products and services

• NBT Bank, N.A. - Personal Banking Personal banking services offered through 176 branches and digital channels across seven northeastern U.S. states, including checking, savings, deposit accounts, credit cards, mortgages, home lending (FHA, USDA Rural Housing, VA), and digital/mobile banking with credit score access and personal financial management tools. Targets individual consumers including unbanked and underbanked populations.
• NBT Bank, N.A. - Commercial Banking Commercial banking services for small, mid-market, and large commercial customers and government entities across the seven-state footprint. Includes commercial lending, business banking, government banking, treasury management, commercial real estate financing, and specialized government lending. Served by dedicated relationship managers and strengthened by the Evans Bancorp acquisition (May 2025).
• NBT Bank Wealth Management Wealth management services for high-net-worth and mass-affluent individuals, including trust services, investment management, private banking, and retirement services. Led by EVP and President of Wealth Management Ruth H. Mahoney, who oversees trust, investment, Private Bank, and retirement services lines of business.
• EPIC Retirement Plan Services National benefits administration firm providing customized consulting, recordkeeping, actuarial, and administrative services for all types of retirement plans (401(k), pension, etc.). Serves employer retirement plan sponsors across all 50 states with offices in Rochester NY, St. Louis MO, Peoria IL, and Portland ME, plus The TPA Experts locations in New Gloucester ME, Bedford NH, and West Des Moines IA. Currently serves over 375,000 retirement plan participants.
• NBT Insurance Agency, LLC Full-service regional insurance agency based in Norwich, NY, offering a comprehensive array of personal and commercial insurance products and services. Operates as a wholly-owned subsidiary of NBT Bancorp Inc. alongside NBT Bank, N.A. and EPIC Retirement Plan Services.
• NBT iSelect Account Accessible banking product certified to meet Bank On National Account Standards. Features no monthly charges for maintenance, inactivity, or dormancy, no overdraft fees, and no minimum balance requirement. Includes an enhanced digital banking platform with online and mobile access to credit score information and personal financial management tools. Targeted at unbanked and underbanked consumers.

Quantifiable outcome

• Net interest margin expanded to 3.72% (FTE basis) in Q1 2026, up 28 bps year-over-year
• +6 more outcomes

Named customers6 records

Segments5 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Seven partnerships are on record, tiered major and minor.

• Evans BancorpmajorStrategic or Co-development Partner · 9 September 2024NBT Bancorp announced acquisition of Evans Bancorp in a deal valued at approximately $236 million. The transaction closed in May 2025, adding 200 employees, 18 banking locations in Western New York, $1.67 billion in loans, and $1.86 billion in deposits. Evans' CEO David J. Nasca joined NBT's board. NBT issued 5.1 million shares of common stock (valued at $221.8 million) to Evans investors.
• Salisbury BancorpmajorStrategic or Co-development Partner · 5 December 2022NBT Bancorp acquired Salisbury Bancorp in an all-stock transaction valued at approximately $204 million. Salisbury merged into NBT in August 2023, extending NBT's market presence into New England. Salisbury staff was retained. The acquisition was NBT's first bank deal since 2013 and increased NBT's branches and deposit share in the region.
• CEI-Boulos Capital ManagementminorStrategic or Co-development PartnerNBT Bank is among a growing number of banks partnering with third-party fund managers like CEI-Boulos Capital Management to help allocate Community Reinvestment Act (CRA) investment capital, overcoming perceptions that CRA investments carry high risk and low returns.
• Community Development Fund AdvisorsminorStrategic or Co-development PartnerNBT Bank partners with Community Development Fund Advisors for CRA investment capital allocation, as part of its community responsibility and reinvestment strategy.
• Affordable Housing Agency Partners (Various)minorStrategic or Co-development PartnerNBT Bank maintains longstanding relationships with affordable housing agency partners across its seven-state banking footprint, supporting first-time homebuyer education programs and providing assistance with down payments and closing costs. These partnerships are part of the bank's affordable housing initiative which has funded more than 140 projects totaling over $825 million in financing.
• Developers CollaborativeminorStrategic or Co-development PartnerNBT Bank was a financing partner in Developers Collaborative's $11 million affordable senior housing project at 101 Hancock St. in Rumford, Maine (33 units for adults 55-plus), developed in partnership with MaineHousing, CREA LLC, and the Maine Department of Economic and Community Development.
• Habitat for HumanityminorStrategic or Co-development PartnerNBT Bank partners with Habitat for Humanity as part of its affordable housing programs, offering the Habitat for Humanity mortgage program alongside other innovative home lending products.

Scale indicators16 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• S&T Bancorp, Inc. Pennsylvania-based community bank holding company with a similar regional commercial-banking model, overlapping NBT's Pennsylvania footprint. Comparable scale, asset quality discipline, and dividend track record.
• Tompkins Financial Corporation: Ithaca, NY-based community bank holding company with overlapping upstate New York presence and similar balance-sheet scale. Competes head-to-head with NBT in commercial and consumer banking across the same northeastern markets.
• Community Bank System, Inc. A Utica, NY-based commercial banking holding company of comparable size (~$15B+ assets) operating a similar community-banking model across upstate New York and neighboring states. Highly comparable on footprint, product mix, and M&A history.
• TrustCo Bank Corp NY: New York chartered community bank holding company focused on the Capital Region and upstate NY, with comparable consumer-banking and mortgage-lending emphasis. Similar deposit-gathering model and branch-based distribution.
• Independent Bank Corp: Massachusetts-based community bank holding company of similar size and asset profile, serving New England markets that overlap with NBT's eastern footprint. Comparable commercial and retail banking mix.
• Washington Trust Bancorp, Inc. Rhode Island-based community bank and wealth management holding company operating in southern New England. Comparable balance-sheet size, commercial-banking emphasis, and wealth management sub-business.
• Eastern Bankshares, Inc. Massachusetts-based community bank holding company serving the New England region with a branch-led distribution model that overlaps with NBT's MA, NH, and ME presence. Similar consumer-and-commercial banking mix.
• Camden National Corporation: Maine-based community bank holding company serving northern New England, directly overlapping with NBT's Maine and New Hampshire branches. Similar community-banking model and small-business focus.
• Brookline Bancorp, Inc. Massachusetts-based bank holding company with a comparable mix of community banking, specialty lending, and wealth management. Similar size and New England footprint overlap.

Broad incumbents

• M&T Bank Corporation: Buffalo, NY-based super-regional bank holding company that is the dominant competitor across much of NBT's footprint. Serves as the primary incumbent benchmark for commercial banking share, deposit pricing, and digital capabilities in the northeast.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights6 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles14 records

Subsidiaries3 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A2 records

Investments1 record

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about NBT Bank