Nashville Bank & Trust Reports Third Quarter Results

  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

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.


NBT Holdings Inc.
Andrew L. May, 615-515-1707
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