NORWICH, N.Y. (AP) — NORWICH, N.Y. (AP) — NBT Bancorp Inc. (NBTB) on Thursday reported first-quarter net income of $51.1 million.
The Norwich, New York-based bank said it had earnings of 98 cents per share. Earnings, adjusted for non-recurring gains, came to 97 cents per share.
The results did not meet Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 98 cents per share.
The financial holding company posted revenue of $232.8 million in the period. Its revenue net of interest expense was $185.1 million, which also fell short of Street forecasts. Four analysts surveyed by Zacks expected $186.3 million.
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