Nashville Bank & Trust Reports Fourth Quarter and Full Year 2011 Results Business Wire NASHVILLE, Tenn. -- January 19, 2012 NBT Holdings Inc. (OTCBB:NBTH.PK), a bank holding company and the parent ofNashville Bank & Trust Company, reported net income of $615,000 for the fourth quarter of 2011, a 46 percent increase compared with $420,000 for the fourth quarter of 2010. Earnings per fully diluted share for the quarter ending Dec. 31, 2011 totaled $0.27 versus $0.19 for the same period in 2010. For the year ended Dec. 31, 2011, net income was $2,015,000 compared to $1,322,000 for the comparable period in 2010, a 52 percent increase. Earnings per fully diluted share rose to $0.89 for the year compared to $0.61 in 2010. At Dec. 31, 2011, the bank reported total assets of $241.6 million, a 17 percent increase from Dec. 31, 2010. Over the same period, deposits increased 18 percent to $197.5 million, while total loans rose 12 percent to $169.6 million. At Dec. 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 10.11 percent compared with the minimum guideline of 5.0 percent. Non-interest income for fourth quarter 2011 was $1,024,000, compared to $916,000 for same period in 2010, an increase of 12 percent. Tangible Book Value per share at December 31, 2011 was $11.49 compared to $10.45 at the same time a year ago. “2011 was an excellent year at NBT. Our net interest income grew by 21.0% and our non-interest income grew by 14.5%,” said Chief Executive Officer Tom Stumb. “Loans grew by $18 million and deposits by $30 million. Our credit quality continues to be very strong. Our return on average assets reached 1% for the second half of the year, a major milestone for our company. We are very optimistic about the prospects for continued moderate growth and increasing returns on assets and equity in 2012.” 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: Nashville Bank & Trust Company Andrew L. May, 615-515-1707 email@example.com
Nashville Bank & Trust Reports Fourth Quarter and Full Year 2011 Results
Press spacebar to pause and continue. Press esc to stop.