Issue link: https://nebusinessmedia.uberflip.com/i/1514502
NBT Bank is proud to once again sponsor the Hartford Business Journal/New Haven Biz Economic Outlook Survey. This important survey helps us gauge the business climate in our community for the coming year. It also gives us critical insights that will help us address anticipated challenges. While we continue to see resiliency in the economy with healthy earnings reported from companies in the S&P 500 and a strong labor market, many businesses appear to be taking a more cautious approach. Economic growth in Connecticut lags the national economy but is expected to improve. Inflation persists although to a much lesser degree and is trending downwards. The tight labor market is one of the biggest impediments businesses are facing. Finding and attracting new talent remains a challenge, and businesses are expecting to pay higher wages to attract this new talent. Plans for material investment and growth remain largely on hold. At NBT, we are dedicated to finding solutions to overcome these challenges. With our locations in West Hartford, Glastonbury and now four additional locations in the Northwest corner of the state, our experienced team members are here to help. Our local decision-making allows us to be responsive, and NBT Bank can offer businesses a solid partnership that provides unique and customized banking solutions to meet your specific needs and goals. We began serving Connecticut in 2019 and have steadily expanded our presence. We are committed to continue growing in the region, and we are proud to share that we now have 90 employees and over half a billion in loans in Connecticut. With 153 locations throughout the Northeast, including New England, upstate New York and northeastern Pennsylvania, NBT has the scale and investment capability necessary to compete successfully in today's financial services arena, including commercial and small business banking, personal banking, wealth management, a national 401(k) record keeping platform through EPIC Retirement Plan Services, and NBT Insurance Agency. As a community bank, we're committed to giving back and supporting the organizations that make our communities a better place to live. This community spirit is among our core values. In addition to volunteering our time, NBT Bank supports over 50 local nonprofits in Connecticut alone. I'd like to take a moment to extend my sincere thanks to the communities we serve and our customers for the support we have received. Thank you, Andreas Kapetanopoulos Regional President, NBT Bank Member FDIC Partnering with Connecticut's future. One business at a time.