The Bottom Line: Strategist Bank, NBT Bancorp Inc. and Connection

A roundup of news updates from public companies in NH and nationwide

STRATEGIST BANK RECEIVES CONDITIONAL APPROVALS, TARGETS 2027 OPENING

Strategist Bank, a proposed community bank headquartered in Bedford, has received conditional approvals from the Federal Deposit Insurance Corp. (FDIC) for federal deposit insurance and the New Hampshire Banking Department for a state bank charter.

The approvals mark a significant step toward opening what would be New Hampshire’s first newly chartered bank since 2022. Strategist is targeting a first-quarter 2027 opening, pending completion of remaining regulatory requirements and a planned capital raise.

Founded by New Hampshire business owners and bankers, Strategist aims to combine personalized community banking with modern financial technology. The digital-first bank will focus on serving businesses throughout southern New Hampshire, offering around-the-clock banking access alongside local customer support.

“Few banks can tout both high-touch service and high-tech, something Strategist will bring to the local community,” said Michael Simchik, Strategist’s president and CEO. “We’re here to solve business problems for Granite State business owners, not create them.”

Organizers say the bank was conceived in response to consolidation in the banking industry, which has reduced local decisionmaking and personal banking relationships.

Strategist envisions physical locations in the Bedford-Manchester area and on the Seacoast.

Jim Prieto, chairman of Strategist’s board, said the bank intends to provide business owners with sophisticated commercial banking capabilities while maintaining strong local relationships.

The conditional approvals follow applications submitted in March 2026 after more than a year of planning and development.

NBT BANCORP REPORTS RECORD Q3 EARNINGS, RAISES DIVIDEND

NBT Bancorp Inc., the Norwich, New York-based parent company of NBT Bank, reported record third-quarter net income of $58 million, or $1.11 per diluted share, up from $54.5 million, or $1.03 per share, during the same period in 2025.

The company reported net interest income of $142.1 million, a 5.5% increase from a year earlier, driven by loan growth, improved net interest margins and lower funding costs. Its net interest margin reached 3.78%, up from 3.66% in the third quarter of 2025.

Total loans reached $11.95 billion as of Sept. 30, an increase of $350.4 million, or 3%, since the end of 2025. Deposits totaled $13.59 billion, compared with $13.50 billion at year-end.

“Our record third quarter results reflect the strength of our diversified business model and disciplined execution across the company,” said NBT President and CEO Scott Kingsley.

Noninterest income, excluding securities gains, increased 2.9% year over year to $52.9 million, while noninterest expenses rose to $115.2 million.

NBT also announced an 8.1% increase in its quarterly dividend to 40 cents per share, marking its 14th consecutive year of annual dividend increases. The dividend is payable Dec. 15 to shareholders of record Dec. 1.

NBT Bancorp reported total assets of $16.39 billion as of Sept. 30. Its primary subsidiary, NBT Bank, operates 174 banking locations across seven states, including New Hampshire, Maine, Vermont and Massachusetts.

CONNECTION NAMES MATT ZAFIROVSKI PRES., COO

Merrimack-based Connection (NASDAQ: CNXN), a provider of information technology solutions, has appointed Matt Zafirovski president and chief operating officer, effective Oct. 12, 2026.

Zafirovski will report to Timothy McGrath, who previously held both the president and CEO titles and will continue serving as chief executive officer.

“Matt is a proven leader with broad experience across technology, operations, strategy and business transformation,” McGrath said. “His customer-focused approach, history of building high-performing teams, and ability to scale organizations make him an outstanding addition to our leadership team.”

Zafirovski brings more than 15 years of leadership experience in technology, consulting, global operations and business transformation. Most recently, he served as CEO of Tusker, a national IT solutions and services provider, where he previously held the COO position. During his tenure, he helped nearly double the company’s revenue through organic growth, strategic acquisitions and expanded services.

Earlier in his career, Zafirovski held leadership and advisory positions with Groupon International, McKinsey & Company, Apple, Meadowood Associates and Chicago Public Schools.

He holds an MBA from Northwestern University’s Kellogg School of Management and a bachelor’s degree in public policy from Duke University.