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NBT Bank News

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NBT Bank Congratulates VMR Electronics Owners as SBA NYS Small Business Persons of the Year

NORWICH, N.Y. (April 29, 2011) – NBT Bank’s Regional President Jeff Lake congratulates Vanessa and Mark Kelly, owners of VMR Electronics, on their selection as Small Business Persons of the Year for New York State by the U.S. Small Business Administration (SBA).

The Kellys will be among the nation’s top entrepreneurs honored by the SBA during National Small Business Week events scheduled in Washington from May 18 to 20, 2011. Based in Binghamton, N.Y., VMR Electronics designs and manufactures cable assemblies and PCB boards and currently has patents pending for cable designs developed to provide unique solutions for several of its customers. In ten years, the company has grown into a high-tech U.S. manufacturer whose products are deployed with U.S. troops in battlefields worldwide. Currently the company has 237 full-time employees with over $45 million in annual sales to major defense contractors.

Lake said, “We are very pleased that VMR has been honored with this state-wide award. Ron Goodwin, NBT Bank senior commercial relationship manager, was instrumental in developing a strategic partnership with VMR to facilitate their success.”

NBT Bank is committed to meeting the needs of businesses by leveraging specialized lending programs to facilitate growth in the regional economy. Through various SBA guarantee programs, NBT Bank has been able to provide over 200 loans totaling in excess of $22 million to small businesses that otherwise would not qualify for traditional bank financing.

NBT Bank, N.A., based in Norwich, N.Y., is an independent, full-service community bank that has two banking divisions and 123 offices. NBT Bank has 87 offices in upstate New York and Vermont. Pennstar Bank has 36 offices in northeastern Pennsylvania. NBT Bancorp Inc., the parent company of NBT Bank, N.A., is a Norwich, N.Y.-based financial holding company that had assets of $5.5 billion as of March 31, 2011.