NBT Bancorp, Inc. reported unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2014. For the quarter, the company reported that total interest, fee and dividend income of $69,414,000 against $69,181,000 a year ago. Net interest income was $64,024,000 against $62,058,000 a year ago. Income before income taxes was $27,435,000 against $26,708,000 a year ago. Net income was $18,513,000 or $0.42 per basic and diluted share against $17,925,000 or $0.41 per basic and diluted share a year ago. Book value per share as on December 31, 2014 was $19.69 against $18.77 as on December 31, 2013. Tangible book value per share as on December 31, 2014 was $13.22 against $12.09 as on December 31, 2013. Core net income was $18,502,000 or $0.42 per diluted share compared to $18,377,000 or $0.42 per diluted share a year ago. Core return on average assets was 0.94% compared to 0.96% a year ago. Return on average assets was 0.94% compared to 0.94% a year ago. Core return on average equity was 8.45% compared to 9.04% a year ago. Return on average equity was 8.46% compared to 8.81% a year ago. Core return on average tangible common equity was 13.08% compared to 14.77% a year ago. Return on average tangible common equity was 13.09% compared to 14.42% a year ago.

For the year, the company reported that total interest, fee and dividend income was $275,081,000 against $268,723,000 a year ago. Net interest income was $251,878,000 against $238,079,000 a year ago. Income before income taxes was $112,303,000 against $89,943,000 a year ago. Net income was $75,074,000 or $1.69 per diluted share against $61,747,000 or $1.46 per diluted share a year ago. Core net income was $75,812,000 or $1.71 per diluted share compared to $69,857,000 or $1.65 per diluted share a year ago. Core return on average assets was 0.98% compared to 0.96% a year ago. Return on average assets was 0.97% compared to 0.85% a year ago. Core return on average equity was 8.92% compared to 9.16% a year ago. Return on average equity was 8.84% compared to 8.09% a year ago. Core return on average tangible common equity was 14.03% compared to 14.76% a year ago. Return on average tangible common equity was 13.90% compared to 13.11% a year ago.

For the quarter, the company reported net charge-offs of $9.9 million, up from $5.1 million for the prior quarter, and up from $5.9 million from the three months ended December 31, 2013. This increase was due primarily to a $3.0 million partial charge-off of an acquired commercial credit during the fourth quarter of 2014 all of which was previously reserved for in prior quarters.