NORWICH, N.Y. (AP) _ NBT Bancorp Inc. (NBTB) on Monday reported first-quarter net income of $10.4 million.
The bank, based in Norwich, New York, said it had earnings of 23 cents per share.
The results missed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 49 cents per share.
The financial holding company posted revenue of $124.8 million in the period. Its revenue net of interest expense was $112.6 million, beating Street forecasts. Three analysts surveyed by Zacks expected $111.6 million.
NBT shares have fallen 19% since the beginning of the year. In the final minutes of trading on Monday, shares hit $32.94, a decrease of 12% in the last 12 months.