Subsequent Event

3 Months Ended

Mar. 31, 2014

Subsequent Event [Abstract]

Subsequent Event

Note 10. Subsequent Event

On April 17, 2014, NBT Capital Corp., a wholly-owned subsidiary of NBT, sold to LendingClub Corporation, its 20% ownership interest in Springstone Financial, LLC, which NBT originally acquired in exchange for a $3 million investment, as part of LendingClub’s acquisition of all of the outstanding equity in Springstone.  In total, LendingClub paid the group of selling equityholders a purchase price equal to $140 million in cash and preferred stock.  Springstone provides affordable financing options for consumers seeking to finance private education and elective medical procedures through a network of over 14,000 schools and healthcare providers.  In connection with the acquisition, NBT Bank and Springstone entered into an amended and restated program agreement pursuant to which NBT Bank will continue to participate in lending activities with respect to Springstone’s financing operations.  NBT is exploring balance sheet strategies for optimal use of the proceeds from this transaction.