NBT Holdings Inc. (OTCBB:NBTH.PK), a bank holding company and the parent of Nashville Bank & Trust Company, reported consolidated net income of $432,000 for the second quarter 2011, a 67 percent increase compared with $258,000 for the second quarter 2010. Earnings per fully diluted share for the quarter ending June 30, 2011 totaled $0.19 versus $0.12 for the same period in 2010.

For the six months ending June 30, 2011, net income was $815,000 compared to $450,000 for the comparable period in 2010, an 81 percent increase. Earnings per fully diluted share rose to $0.36 for the six-month period compared to $0.21 in 2010.

At June 30, 2011, the bank reported total assets of $221.4 million, a four percent increase from June 30, 2010. Over the same period, deposits increased one percent to $181.7 million, while total loans were flat at $163.0 million. At June 30, 2011, the bank’s capital exceeded the FDIC guidelines for a “well capitalized” bank in all categories, including a Tier 1 leverage ratio of 10.53 percent compared with the minimum guideline of 5.0 percent.

Non-interest income for second quarter 2011 was $948,000, compared to $825,000 for same period in 2010, an increase of 15 percent.

“Our bank is financially strong and we are growing moderately in a difficult economic environment,” said Chief Executive Officer Tom Stumb. “Loan demand continues to be moderate. Our wealth management business is growing strongly. Families and institutions with substantial assets have seen the benefits of our prudent, consistent approach and have rewarded us with additional business and client referrals. We believe the second quarter results position us well to achieve our goals for 2011.”

A full-service bank and wealth management company, Nashville Bank & Trust services include personal and business loans, depository accounts, wealth management and trust services. Personal, expert service is the bank’s hallmark. Customers benefit from direct contact with senior-level, experienced bank executives who have decision-making authority and a full understanding of the local community and the client’s relationship with the bank.

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