Corporate Responsibility

Supporting the Communities We Serve

The Company is committed to strengthening the communities we serve through philanthropy and volunteerism. We are actively engaged in the markets where we do business and where our employees and directors live and work. We live out our core value of community involvement through investments of both money and employee time to make a meaningful impact.

Through our charitable giving program, administered by market-based committees, the Company contributed over $2.3 million in 2024. This approach ensures alignment with local needs and support for hundreds of organizations across our footprint that provide health and human services and promote education, affordable housing, economic development, the arts and agriculture.

Giving to United Way chapters is a consistent way the Company and our employees make a difference in our communities. This support includes corporate pledges, employee giving campaigns and fundraisers. In 2024, these efforts resulted in more than $355,000 in funding for United Way chapters that provide resources to local organizations offering critical education, financial, food security and health services.

In addition to corporate financial support of community organizations and causes, employees are encouraged and empowered to volunteer. Our team members share their financial expertise and other talents as board members and volunteers, offering direct support to organizations and people in need. In 2024, our employees reported over 10,500 hours of volunteer service.

Promoting Financial Health

We are also committed to helping families and individuals in our communities to achieve financial health. The Company offers a comprehensive array of financial products and services for consumers and businesses with options that are beneficial to unbanked and underbanked individuals. Deposit accounts include low balance savings and checking options that feature minimal or no monthly service fees, provide assistance rebuilding positive deposit relationships, and assistance for those just starting a new banking relationship.

The NBT iSelect Account was introduced in 2021 and has received certification for meeting the Bank On National Account Standards every year since its inception. Over 18,000 NBT iSelect Accounts have been opened since 2021. These accounts feature no monthly charges for maintenance, inactivity or dormancy, no overdraft fees and no minimum balance requirement. An enhanced digital banking platform incorporates ready access through online and mobile services to current credit score information and a personal financial management tool for budget and expense tracking.

The Company is focused on making home ownership accessible to everyone in the communities we serve. We have a long history of supporting affordable housing initiatives and have funded more than 140 affordable housing construction projects totaling over $825 million in financing and resulting in the creation of more than 6,000 affordable housing units.

Our suite of home lending products features innovative and flexible options, including government guaranteed programs like Federal Housing Administration, USDA Rural Housing Program and U.S. Department of Veterans Affairs loans. In addition, we have many internally developed offerings, including our Habitat for Humanity, Home in the City, Portfolio Housing Agency and Portfolio 97 programs. Our home lending team includes affordable housing loan originators, and we maintain longstanding relationships with affordable housing agency partners across our banking footprint. These partnerships support first-time homebuyer education programs and provide assistance with down payments and closing costs.

EPIC Retirement Plan Services is the Company’s national benefits administration firm. EPIC RPS offers customized consulting, recordkeeping, actuarial and administrative services for all types of retirement plans. The firm has deep partnerships with clients across all 50 states and is “Helping America Retire” with over 375,000 retirement plan participants nationwide.

An important measure of our commitment to our customers and our communities is the high marks we receive from our customers. In 2024, NBT Bank was listed as one of Forbes' 2024 World's Best Banks, and was the highest ranked bank in New York marking the fifth time in six years NBT earned this recognition.

Growing Our People

Our employees are key to our success as an organization. We are committed to attracting, retaining and promoting top quality talent regardless of sex, sexual orientation, gender identity, race, color, national origin, age, religion and physical ability. We strive to identify and select the best candidates for all open positions based on qualifying factors for each job. We are dedicated to: providing a workplace for employees that is supportive and free from of any form of discrimination or harassment; recognizing and rewarding employees based on their individual results and performance as well as the success of their department and the Company overall; and fostering an environment of inclusion and belonging by recognizing and respecting and differences that make each of our employees unique.

We believe that employing a workforce with varied backgrounds and experiences enhances our ability to serve our customers and our communities. Promoting and fostering a better understanding of the financial needs of our prospects and customers enhances our ability to provide them with relevant financial products and services. Understanding and supporting our community has always been a priority for us. Embracing different perspectives, experiences and backgrounds empowers employees to contribute meaningfully and feel valued.

The Company’s focus on investing in our people includes key initiatives to attract, develop and retain our valued employees. Talent acquisition, retention, and the overall employee experience continue to be top priorities considering the challenging labor market.

The Company offers total rewards designed to support employees at various stages of their personal lives and careers. Productivity is enhanced when an organization helps employees manage their overall wellbeing. In 2024, the Company launched an employee wellbeing strategy focused on emotional, physical, financial, social and work-life goals. This strategy is supported by benefits such as paid parental leave, increased flexibility in work schedules, expanded paid leave options, a retirement transition program, and a comprehensive Employee Assistance Program, which includes expanded coverage and additional health guides added in 2025. The Company’s incentive programs recognize employees at all levels and are designed to motivate employees to support the achievement of company success, with appropriate risk assessment and prevention measures designed to prevent fraud.

While our employee retention rate remains consistently high, we continue to focus on retaining our valued employees with career planning conversations, ongoing coaching, goal setting, individual development plans and enhanced communications, which all contribute to employee satisfaction. The themes of our 2024 Employee Engagement Survey centered around culture, leadership, employee growth and development, and communication. We conducted another survey in the first quarter of 2025 and are continuing to use the results to define specific initiatives to enhance engagement around the organization, including improving clarity around business strategies, decision making and corporate-led development programs.

The Company’s main priority is to attract and retain top talent by encouraging and promoting internal development. All employees have access to the LinkedIn Learning Library, which is designed to make learning and development accessible in a concise, easily consumable format. This resource enables employees to acquire the skills and development they need to achieve individual career aspirations. Currently, 85% of our employees are active in the learning library and are taking full advantage of this resource.

In addition to employee guided development, there are distinct programs strategically designed to attract top talent early in their careers and to further foster the growth and retention of our high potential and emerging leaders. These programs are aligned with the objectives outlined in our succession plan. Our Management Development Program aims to attract diverse talent, primarily college seniors by offering accelerated career advancement and mentoring with senior executives. The Company also offers two programs designed for high potential employees, one for employees with prior professional experience and another one targeted to our more experienced employees with direct leadership responsibility. Both programs include a mentor, a coach, 360-degree feedback, individual development plans, presentation skill development and increased visibility to executive leadership. All development programs are designed to be delivered in both virtual and in-person learning environments. Additionally, the Company has a robust annual talent review and succession planning process that includes the Board and senior management.

NBT is honored to be consistently recognized as a “Best Place to Work” across our banking footprint. Our employees have participated in independent surveys resulting in recognition in Central New York, Vermont, Connecticut and New York’s Capital Region.

Corporate Governance

We are dedicated to being a financial industry leader in corporate governance and business ethics. The Company’s Board is composed of individuals with diverse professional and business experience. They all share a commitment to fostering an effective risk environment coupled with a strong internal audit structure. Their unwavering commitment protects our clients, stockholders and reputation. Our Code of Business Conduct and Ethics reflects the Company’s expectation for the conduct of our directors, officers and employees. Through recurring training and disclosures, as well as periodic communication related to specific topics, the Company maintains the highest level of ethical conduct.

In addition to the foregoing commitments, our Board believes in strong governance practices, including: a non-classified board with annual director elections; maintenance of independent committees of the Board with independent chairs and an independent Lead Director; regular executive sessions of the Board independent of management; and meaningful stock ownership guidelines for directors. Currently, 77% of our directors are independent. The Company has a Proxy Advisor Governance Score of 2 from ISS Governance, a global provider of independent and objective shareholder meeting research and recommendations.

Our Board of Directors believes that a fully engaged board is a strategic asset of the Company and that knowledgeable and fresh viewpoints and perspectives are important for informed decision-making. The Board regularly evaluates whether it collectively has the right mix of skills, experience, attributes and diverse viewpoints necessary for it to drive stockholder value. The results of this evaluation are used to help identify the desirable skills for potential Board nominees and to screen director candidates.

Finally, our Board understands the importance of aligning compensation with performance. Our compensation philosophy and programs for executives are balanced and risk-appropriate, demonstrate long-term alignment with sustained performance and stockholder interests, and provide a competitive and effective program to attract, motivate and retain the best talent. At our 2025 Annual Meeting of Shareholders, 96% of shares voted to approve the compensation of named executive officers.