NBT Bancorp 4Q profit rises |
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Tue, 23 Jan 2007 01:52
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NORWICH, N.Y. (AFX) - NBT Bancorp Inc., the holding company for NBT Bank, said Monday its fourth-quarter profit rose 5 percent.Quarterly earnings rose to $13.6 million, or 40 cents per share, from $13 million, or 40 cents per share, during the same period last year. Analysts polled by Thomson Financial had projected quarterly earnings of 40 cents per share.Net interest income rose nearly 4 percent to $41.4 million from $40 million.The company said non-interest income rose 18 percent to $12.3 million from $10.4 million in last year's fourth quarter.For the year, profit rose about 7 percent to $55.9 million, or $1.64 per share, from $52.4 million, or $1.60 per share, last year. Analysts expected a profit of $1.63 per share.Net interest income for the year rose almost 4 percent to $163.8 million from $158.1 million. Non-interest income rose 14 percent to $48.6 million from $42.5 million.Results for the year included $1.8 million in stock option charges.NBT Bancorp shares fell 15 cents to close at $24 on the Nasdaq.Copyright 2006 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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