On the heels of a record-setting 2012 third quarter, NBT Holdings, parent to Nashville Bank & Trust Company, kept the proverbial pedal pressed to the floor as company officials reported net income of $841,000 for the fourth quarter. This was 37 percent higher than its numbers from the last three months of 2011.
Nashville Bank & Trust’s assets grew to $300 million as of Dec. 31, a 24 percent increase from the previous year, while deposits increased jumped 28 percent to $252 million. Loans also increased to $190 million, up 12 percent from the prior year.
“This was an excellent year for our company,” said CEO Tom Stumb. “We returned 10.6 percent on average equity and 1.1 percent on average assets, the best in our history. The assets of the bank exceeded $300 million for the first time and the assets in our Wealth Management business exceeded $540 million at year-end.”
The nine-year-old bank trades as NBTH on the OTC exchange.