NORWICH – NBT Bancorp Inc. has reported net income for the year ended Dec. 31, 2009 was $52 million, down 10.9 percent or $6.3 million from the company’s record earnings in 2008. This corresponds to a diluted earnings per share of $1.53 for the year, compared to $1.80 per share for 2008.

“I am pleased to see that NBT achieved strong 2009 results in what remained a very challenging economic environment,” said NBT President and CEO Martin Dietrich. “Our earnings were on a level similar to our record year in 2008, except for increased FDIC and pension expenses.”

In 2009, NBT’s FDIC expenses increased by $6.6 million over the prior year, including a “special assessment” of approximately $2.5 million. Pension expenses also increased during that time period by $2.8 million.