Nashville Bank & Trust Reports First Quarter 2011 Results
NASHVILLE, Tenn. -- April 28, 2011
NBT Holdings Inc. (OTCBB:NBTH.PK), a bank holding company and the parent of
Nashville Bank & Trust Company, reported net income of $384,000 for the first
quarter 2011, a 99 percent increase compared with $193,000 for the first
quarter 2010. Earnings per fully diluted share for the quarter ending March
31, 2011 totaled $0.17 versus $0.09 for the same period in 2010.
At March 31, 2011, the bank reported total assets of $219.8 million, a 16
percent increase from March 31, 2010. Over the same period, deposits increased
16 percent to $181.7 million, while loan growth was 6 percent, reaching $156.5
million. At March 31, 2011, the bank’s capital exceeded the FDIC guidelines
for a “well capitalized” bank in all categories, including a Tier 1 leverage
ratio of 10.65 percent compared with the minimum guideline of 5.0 percent.
Non-interest income for first quarter 2011 was $912,000, compared to $690,000
for same period in 2010, an increase of 32 percent. Our wealth management
business accounts for about 90% of non-interest income.
“Asset quality continues to be strong at our bank,” reported Chief Executive
Officer Tom Stumb. “We have completed another quarter with no non-performing
assets. Loan demand continues to be moderate. Our wealth management business
is growing strongly. Families and institutions with substantial assets have
seen the benefits of our prudent, consistent approach and have rewarded us
with additional business and client referrals. The first quarter positions us
well to achieve our goals for 2011.”
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.
Nashville Bank & Trust Company
Andrew L. May, 615-515-1707
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