NBT Bancorp Inc. (NBTB) Q3 2022 Earnings Call Transcript

Oct. 26, 2022 11:48 AM ETNBT Bancorp Inc. (NBTB)
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NBT Bancorp Inc. (NASDAQ:NBTB) Q3 2022 Earnings Conference Call October 26, 2022 8:30 AM ET

Company Participants

John Watt - President & CEO

Scott Kingsley - CFO

Annette Burns - CAO

Conference Call Participants

Alexander Twerdahl - Piper Sandler Companies

Christopher O'Connell - KBW

Operator

Good day, everyone and welcome to the NBT Bancorp Third Quarter 2022 Financial Results Conference Call. This call is being recorded and has been made accessible to the public in accordance with the SEC's Regulation FD. Corresponding presentation slides can be found on the company’s website at nbtbancorp.com.

Before the call begins, NBT's management would like to remind listeners that as noted on Slide 2, today's presentation may contain forward-looking statements as defined by the Securities and Exchange Commission. Actual results may differ from those projected.

In addition, certain non-GAAP measures will be discussed. Reconciliations for these numbers are contained within the Appendix of today's presentation. At this time, all participants are in a listen-only mode. Later we will conduct a question-and-answer session. Instructions will follow at that time. As a reminder, this call is being recorded.

I would now like to turn the conference over to NBT Bancorp's, President and CEO, John H. Watt, Jr. for his opening remarks. Mr. Watt, please begin.

John Watt

Thank you, Tanya, and good morning and thank you for participating in this earnings call covering NBT Bancorp's third quarter 2022 results. Joining me this morning are NBT's Chief Financial Officer, Scott Kingsley, and our Chief Accounting Officer, Annette Burns.

In an interest rate environment that is volatile and where economic and macroeconomic conditions are constantly changing, we are extremely pleased with our results for the third quarter of 2022, including earnings per share of $0.90, return on average assets at 1.3% and return on average tangible common equity landing [ph] at 17.1%.

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