Nashville Bank & Trust Reports Third Quarter Results Business Wire NASHVILLE, Tenn. -- October 29, 2010 NBT Holdings Inc. (OTCBB: NBTH.OB), a bank holding company and the parent of Nashville Bank & Trust Company, reported net income of $452,000 for the third quarter 2010, a 97 percent increase compared with $230,000 for the third quarter 2009. Earnings per undiluted share for the quarter ending Sept. 30, 2010 totaled $0.21 versus $0.11 for the same period in 2009. Net income for the first nine months of 2010 was $902,000, a 90 percent increase compared to $475,000 for the comparable period of 2009. Primary EPS for the nine months increased 90 percent to $0.42 per share from $0.22 per share for the same period last year. At Sept. 30, 2010, the bank reported total assets of $216.9 million, a 31 percent increase from Sept. 30, 2009. Over the same period, deposits increased 29 percent to $177.1 million, while loan growth was 20 percent, reaching $159.1 million. At Sept. 30, 2010, the bank’s capital exceeded the FDIC guidelines for a “well capitalized” bank in all categories, including a Tier 1 leverage ratio of 10.29 percent compared with the minimum guideline of 5.0 percent. Non-interest income year-to-date 2010 was $2,456,000, compared to $2,014,000 for the first nine months of 2009, an increase of 22 percent. “Nashville Bank & Trust continues its conservative growth trajectory. Safeguarding client and shareholder wealth has always been the cornerstone of this institution,” said Tom Stumb, president and CEO. “We express gratitude to our clients for their reliance on our prudence and expertise.” Andrew May, who joined the company on Oct. 1 as chief financial officer, commented, “I am delighted to be part of this exceptional team as we address the many growth opportunities that stand before us.” A full-service bank and wealth management company, Nashville Bank & Trust services include personal and business loans, depository accounts, wealth management and trust services. Personal, expert service is the bank’s hallmark. Customers benefit from direct contact with senior-level, experienced bank executives who have decision-making authority and a full understanding of the local community and the client’s relationship with the bank. Contact: NBT Holdings Inc. Andrew L. May, 615-515-1707 firstname.lastname@example.org
Nashville Bank & Trust Reports Third Quarter Results
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