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NBT Bancorp ranked in top 15 nationally for financial performance
NORWICH, N.Y. - A banking industry magazine has ranked NBT Bancorp among the top 15 nationally in terms of financial performance.
Bank Director is the premier magazine for directors of financial companies. In an article titled "Home Run Hitters: Results of the 2009 Bank Performance Scorecard" in its first quarter 2010 issue, the magazine ranked publicly owned banks and thrifts whose assets placed them among the 150 largest nationwide. According to the magazine's 2009 scorecard, NBT Bancorp was 13th nationally. The company placed 39th in 2008 and 58th in 2007.
Using publicly available data, the annual scorecard measures performance across a range of metrics, such as profitability, capital adequacy and asset quality. The measurement period included the third and fourth quarters of 2008 and the first two quarters of 2009.
Bank Director stated: "In what's been one of the toughest years in banking, institutions that played it fiscally conservative ended up batting a thousand on our annual performance rankings." The magazine also noted that "nearly half of the banks [on the list] lost money over a 12-month period ended June 30, 2009." More information on the rankings can be found at www.bankdirector.com.
"We are pleased that our efforts continue to move us higher on Bank Director magazine's important industry list," said Martin Dietrich, NBT Bancorp's president and chief executive officer. "To be among the country's top 15 banks-a significant gain for us over the past two years-reflects well on our conservative but progressive approach to community banking."