NBT Bancorp Inc. announced unaudited consolidated earnings results for the fourth quarter and year ended December 31, 2016. The company reported net income of $78.4 million, up from $76.4 million from the prior year.  Earnings per diluted share for the year ended December 31, 2016 was $1.80, up from $1.72 for the prior year. Net interest income was $264.4 million for the year ended December 31, 2016, up $11.8 million, or 4.7%, from 2015. Return on average assets was 0.92% against 0.96% a year ago. Return on average equity was 8.74% against 8.70% a year ago. Income before income taxes was $118.801 million against $116.628 million a year ago.

Net income for the three months ended December 31, 2016 was $19.6 million, up from $19.1 million for the same period last year.  Diluted earnings per share for the three months ended December 31, 2016 was $0.45, up from $0.43 for the same period last year. Net interest income was $67.4 million for the fourth quarter of 2016, up $0.8 million, or 1.1%, from the previous quarter and up $3.9 million, or 6.2%, from the fourth quarter of 2015. Return on average assets was 0.89% against 0.93% a year ago. Return on average equity was 8.54% against 8.58% a year ago. Book Value Per share was $21.11. Income before income taxes was $29.709 million against $29.585 million a year ago.

Net charge-offs were $8.6 million for the three months ended December 31, 2016, up from $5.3 million for the prior quarter and up from $7.6 million for the fourth quarter of 2015.  In the prior quarter, higher charge-offs from the commercial and consumer portfolios accounted for the increase.