{"id":16192,"date":"2015-01-15T12:43:25","date_gmt":"2015-01-15T17:43:25","guid":{"rendered":"https:\/\/www.glensfalls.com\/glensfallsbusinessjournal\/2015\/01\/economic-outlook-2015---daniel-burke.html"},"modified":"2015-01-15T12:43:25","modified_gmt":"2015-01-15T17:43:25","slug":"economic-outlook-2015-daniel-burke","status":"publish","type":"post","link":"https:\/\/www.glensfalls.com\/glensfallsbusinessjournal\/2015\/01\/economic-outlook-2015-daniel-burke\/","title":{"rendered":"Economic Outlook 2015 – Daniel Burke"},"content":{"rendered":"
\n
\n\"dan\n<\/div>\n
Daniel Burke, regional president of NBT Bank.\n<\/div>\n<\/div>\n

BY DANIEL BURKE<\/p>\n

NBT Bank is focused on what matters most
\nto our customers, both individuals and local
\nbusinesses, and we believe that the area’s
\neconomic outlook for 2015 is good.<\/p>\n

Business borrowing activity is strong and
\norganizations are borrowing for the right reasons:
\nexpansion, equipment replacement and
\nupgrades, new projects and capital needed
\nfor growth. And, while business owners and
\nchief financial officers are always concerned
\nabout costs-especially medical premiums,
\nenergy and taxes-we are seeing balance
\nsheets and profit margins for our business
\ncustomers continue to improve.<\/p>\n

Our area’s employment is also improving,
\nand continued positive national news will
\nimpact us locally. Overall, businesses are
\nmore optimistic about our local economy for
\n2015 than they have been in years. Pending
\nany major surprises on the national or world
\nstages, our region should have a very strong
\n2015.
\nAs a locally-focused bank committed to the
\nsuccess of our customers and communities,
\nNBT Bank offers personal banking, asset
\nmanagement and business services that
\nprovide financial options to local businesses
\nand residents. Our team of local bankers is
\nbacked by expert banking professionals prepared
\nto provide the options our customers
\nneed with their deposit, lending, retirement
\nplanning, investment and cash management
\nneeds.<\/p>\n

Our experienced team knows the local
\narea and is focused on providing customers
\nwith great attention and service. During
\n2014, NBT Bank has enhanced products and
\nincreased digital service technology to support
\ncustomers’ changing needs and wants.<\/p>\n

In September, we launched the second
\ngeneration of our Mobile Banking platform,
\nintroducing upgrades for personal
\nand business customers. A new design and
\nsystem enhancements improved the overall
\nuser experience, and Mobile Deposit
\nfunctionality allows customers to deposit
\nchecks using their smartphone. NBT Bank
\nis also introducing new technology into our
\nphysical locations to address the changing
\nneeds and wants of customers. Nearby, we
\nare transforming our office on Wolf Road in
\nAlbany with an updated layout, self-service
\nteller and other enhancements to allow our
\ncustomer service team to focus on the things
\nthat technology can’t replace – personal attention
\nand individualized financial solutions
\nto address the challenges businesses face.<\/p>\n

For many businesses, those challenges
\ninclude financing. NBT Bank has been designated
\nby the U.S. Small Business Administration
\n(SBA) as a preferred lender to approve
\nloans that result in faster service to local
\nsmall business owners in need of capital. The
\nbank has been granted the authority to process,
\nclose and service most SBA-guaranteed
\nloans, and make credit decisions, without
\nprior SBA review.<\/p>\n

As part of NBT Bank’s commitment to our
\nlocal communities, the bank has conducted
\nmore than 300 classroom presentations in
\nschool districts and community groups across
\nits banking divisions through its financial
\neducation program, Strive\u00c2\u00ae. Strive is a yearround
\ncurriculum that helps kids, teens and
\nyoung adults establish a positive relationship
\nwith money early in life and navigate personal
\nfinance as their financial needs mature.<\/p>\n

To learn more, visit www.nbtbank.com\/strive.<\/p>\n

Additionally, in 2014 NBT Bancorp subsidiary Mang Insurance Agency changed
\nits name to NBT-Mang Insurance Agency to
\nbring all insurance operations under a single
\ntrade name. Since 2008, the agency had
\nexpanded into new markets and introduced
\nnew trade names to support those efforts.
\nIn the Glens Falls area, the agency served
\ncustomers as the NBT Insurance Agency.<\/p>\n

Bringing all of the company’s trade names
\nunder the NBT-Mang Insurance brand allows
\ncustomers to better identify all its offices
\nacross New York and Vermont.<\/p>\n

Most recently, NBT Bank expanded into
\na sixth state with the opening of a regional
\nheadquarters in Portland, Maine. This brings
\nNBT Bank’s total network of banking locations
\nto 157 in six states, including New York,
\nPennsylvania, Vermont, Massachusetts, New
\nHampshire and Maine.<\/p>\n

NBT Bank remains focused on each community
\nthat we serve, and continues to provide
\npersonal service to all of our customers in
\na modern, efficient banking environment. We
\nare striving to provide the best combination
\nof personal attention and efficiency to our
\ncustomers: offering the services that customers
\nneed, with the convenience they want.<\/p>\n

NBT Bank and its parent company, NBT
\nBancorp Inc., are headquartered in Norwich,
\nNY. NBT Bancorp Inc. had assets of $7.9 billion
\nas of September 30, 2014, and is traded
\non the NASDAQ Global Select Market under
\nthe symbol NBTB. Visit www.nbtbank.com
\nand www.nbtbancorp.com.<\/p>\n","protected":false},"excerpt":{"rendered":"

Daniel Burke, regional president of NBT Bank. BY DANIEL BURKE NBT Bank is focused on what matters most to our customers, both individuals and local businesses, and we believe that the area’s economic outlook for 2015 is good. 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