Nashville Bank & Trust Reports Third Quarter 2012 Results

  Nashville Bank & Trust Reports Third Quarter 2012 Results

Business Wire

NASHVILLE, Tenn. -- October 17, 2012

NBT Holdings Inc. (OTC Markets:NBTH), a bank holding company and the parent of
Nashville Bank & Trust Company, reported net income of $847,000 for the third
quarter of 2012, a 45 percent increase compared to $585,000 for the third
quarter of 2011. Earnings per fully diluted share for the quarter ending Sept.
30, 2012 totaled $0.37 versus $0.25 for the same period in 2011.

For the nine months, ending Sept. 30, 2012, net income was $2,056,000 compared
to $1,400,000 for the comparable period in 2011, a 47 percent increase.
Earnings per fully diluted share rose to $0.90 for the nine-month period
compared to $0.61 in 2011.

On Sept. 30, 2012, the bank reported total assets of $277.8 million, a 19
percent increase from Sept. 30, 2011. During the same period, deposits
increased 17 percent to $225.4 million, while total loans were flat at $174.3
million. On Sept. 30, 2012, the Bank’s Tier 1 leverage ratio was 9.68 percent.

Non-interest income for the third quarter of 2012 was $1,345,000, compared to
$979,000 during the same period in 2011, an increase of 37 percent.
Non-interest income included $190,000 of gains on sales of securities and
insurance commissions that are not expected to recur regularly, amounting to
$0.05 per share, after tax.

On Sept. 30, 2012 the Tangible Book Value per share was $12.61 compared to
$11.16 the same time a year ago.

“This was the best quarter in our eight-year history,” said CEO Tom Stumb.
“Growth in deposits, increases in wealth management revenue and tight expense
control pushed us to record earnings. Our loan portfolio continues to perform
well; asset quality has remained very strong throughout the last several
difficult years.”

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
Andrew L. May, 615-515-1707
andrew.may@nashvillebankandtrust.com
 
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