NBT Bancorp, Inc. (NASDAQ:NBTB) Q2 2022 Earnings Conference Call July 26, 2022 8:30 AM ET
Company Participants
John Watt - President & CEO
Scott Kingsley - CFO
Annette Burns - CAO
Conference Call Participants
Alex Twerdahl - PSC
Chris O'Connell - KBW
Matthew Breese - Stephens
Operator
Good day, everyone. Welcome to the NBT Bancorp Second Quarter 2022 Financial Results Conference Call.
This call is being recorded and has been made accessible to the public in accordance with the SEC's Regulation FD. Corresponding presentation slides can be found on the company’s website at nbtbancorp.com.
Before the call begins, NBT's management would like to remind listeners that as noted on Slide 2, today's presentation may contain forward-looking statements as defined by the Securities and Exchange Commission. Actual results may differ from those projected.
In addition, certain non-GAAP measures will be discussed. Reconciliations for these numbers are contained within the Appendix of today's presentation.
At this time, all participants are in a listen-only mode. Later we will conduct a question-and-answer session. Instructions will follow at that time. As a reminder, this call is being recorded.
I would now like to turn the conference over to NBT Bancorp, President and CEO, John H. Watt, Jr. for his opening remarks. Mr. Watt, please begin.
John Watt
Thank you, Josh, and good morning, everyone. Thank you for participating in this earnings call covering NBT Bancorp's second quarter 2022 results. Joining me today are NBT's Chief Financial Officer, Scott Kingsley, and our Chief Accounting Officer, Annette Burns.
We are extremely pleased with our results for the second quarter of 2022, including earnings per share of $0.88, ROA of 1.28% and ROATCE of 17%.
I'd like to take a moment here to highlight activity in our businesses. Loan growth continued to be strong. Our commercial business generated $310 million in loan originations, an increase of 24% over the last quarter. You know, it's clear to us that our commercial and small business customers continue to successfully navigate the challenging operating environment in the face of supply chain issues and inflation and NBT is there to support them.
The second quarter performance of our Sungage residential solar partnership is also notable. Originations were strong in the quarter and credit quality continues to be pristine.
Our fee-based businesses continued their strong performance with total non-interest income at nearly 33% of total revenue for the second quarter. Although, we are very mindful that the forward environment is likely to be volatile through six months, we observe a very strong consumer. Balances in personal checking accounts grew in the second quarter and credit quality and consumer loan portfolios is very healthy. Delinquency across all consumer loan categories is below pre-pandemic levels.