NBT Bancorp Inc. announced unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2017. For the quarter, the company reported total interest, fee and dividend income of $80,230,000 against $73,109,000 a year ago. Net interest income was $73,451,000 against $67,425,000 a year ago. Income before income taxes was $33,326,000 against $29,709,000 a year ago. Net income was $17,637,000 or $0.40 per basic and diluted share against $19,608,000 or $0.45 per basic and diluted share a year ago. Net income, excluding intangible amortization was $18,231,000 against $20,190,000 a year ago. Return on average assets was 0.77% against 0.89% a year ago. Return on average equity was 7.27% against 8.54% a year ago. Return on average tangible common equity was 3.52% against 3.41% a year ago.

For the year, the company reported total interest, fee and dividend income of $309,407,000 against $286,947,000 a year ago. Net interest income was $283,493,000 against $264,441,000 a year ago. Net interest income was $283,493,000 against $264,441,000 a year ago. Income before income taxes was $128,161,000 against $118,801,000 a year ago. Net income was $82,151,000 or $1.87 per diluted share against $78,409,000 or $1.80 per diluted share a year ago. Book value per share was $22.01 against $21.11 a year ago. Tangible book value per share was $15.54 against $14.61 a year ago. Net income, excluding intangible amortization was $84,597,000 against $80,809,000 a year ago. Return on average assets was 0.91% against 0.92% a year ago. Return on average equity was 8.71% against 8.74% a year ago. Return on average tangible common equity was 12.82% against 13.13% a year ago.

Net charge-offs were $7.0 million for the fourth quarter ended December 31, 2017 as compared to $8.6 million for the fourth quarter of 2016.

The company will realize a reduction in tax expense beginning in 2018 due to Tax Reform decreasing the federal rate for corporations from 35% to 21%.