Fair Value Measurements and Fair Value of Financial Instruments (Tables)

9 Months Ended

Sep. 30, 2025

Fair Value Measurements and Fair Value of Financial Instruments [Abstract]

Fair Value of Financial Assets and Liabilities Measured on a Recurring Basis

The following tables set forth the Company’s financial assets and liabilities measured on a recurring basis that were accounted for at fair value. Assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement:

(In thousands)	Level 1		Level 2		Level 3		September 30, 2025
Assets:
AFS securities:
U.S. treasury	$	101,080	$	-	$	-	$	101,080
Federal agency		-		229,056		-		229,056
State & municipal		-		88,697		-		88,697
Mortgage-backed		-		565,303		-		565,303
Collateralized mortgage obligations		-		797,106		-		797,106
Corporate		-		31,952		-		31,952
Total AFS securities	$	101,080	$	1,712,114	$	-	$	1,813,194
Equity securities		48,607		1,000		-		49,607
Derivatives		-		54,257		-		54,257
Total	$	149,687	$	1,767,371	$	-	$	1,917,058
Liabilities:
Derivatives	$	-	$	70,245	$	-	$	70,245
Total	$	-	$	70,245	$	-	$	70,245

(In thousands)	Level 1		Level 2		Level 3		December 31, 2024
Assets:
AFS securities:
U.S. treasury	$	102,790	$	-	$	-	$	102,790
Federal agency		-		218,517		-		218,517
State & municipal		-		87,490		-		87,490
Mortgage-backed		-		464,365		-		464,365
Collateralized mortgage obligations		-		656,488		-		656,488
Corporate		-		45,014		-		45,014
Total AFS securities	$	102,790	$	1,471,874	$	-	$	1,574,664
Equity securities		41,372		1,000		-		42,372
Derivatives		-		80,847		-		80,847
Total	$	144,162	$	1,553,721	$	-	$	1,697,883
Liabilities:
Derivatives	$	-	$	104,399	$	-	$	104,399
Total	$	-	$	104,399	$	-	$	104,399

Information with Regard to Estimated Fair Values of Financial Instruments

The following table sets forth information with regard to estimated fair values of financial instruments. This table excludes financial instruments for which the carrying amount approximates fair value. Financial instruments for which the fair value approximates carrying value include cash and cash equivalents, AFS securities, equity securities, AIR, non-maturity deposits, short-term borrowings, accrued interest payable and derivatives.

			September 30, 2025				December 31, 2024
(In thousands)	Fair Value Hierarchy		Carrying Amount		Estimated Fair Value		Carrying Amount		Estimated Fair Value
Financial assets:
HTM securities		2	$	771,474	$	706,291	$	842,921	$	749,945
Net loans		3		11,460,060		11,289,816		9,863,654		9,458,786
Financial liabilities:
Time deposits		2	$	1,592,147	$	1,582,840	$	1,442,505	$	1,431,942
Long-term debt		2		44,762		44,919		29,644		29,439
Subordinated debt		1		24,223		23,506		121,401		118,693
Junior subordinated debt		2		111,644		97,111		101,196		105,763

NBT BANCORP INC 10-Q