NBT Bancorp Inc. (NASDAQ:NBTB) Q3 2023 Earnings Call Transcript

So in our retirement plan administration business, we’re asset agnostic. We are just the processing platform, and we’re good at it. And we’ve taken the place of people’s HR functions more than anything in that line of business. Wealth for us is embedded into the core culture of the bank. We’ve always done that. It’s embedded with us from a geography standpoint. Our people in the field are servicing not only our bank customers, but our other centers of influence in our communities that we’re already participating in. And I would say the same thing about insurance. We continue to strive to have a good cross-sell with our customers. On the insurance side, that’s been very effective in the small business, small commercial side more than anything else, finding a productive platform to do that more repetitively on the consumer side is kind of the elusive thing, but we’re working on it.

We’re working on it, and we’re making some progress on that. So I would kind of frame it this way. Unless we don’t think we can organically grow those businesses are long-term for our portfolio.

Operator: And I’m showing no further questions. And I would like to turn the call back over to John Watt for his closing remarks.

John Watt: Thank you, Michelle. Appreciate everybody’s time this morning. Thank you for all those great questions about the momentum behind NBT as we close out this year and move into 2024. Again, have a great day. Appreciate your time. Thank you.

Operator: Thank you, Mr. Watt. This concludes our program. You may disconnect. Have a great day.