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The Bank of N.T. Butterfield & Son Limited (NTB) is a prominent full-service community bank and a provider of specialized international financial services. Established in 1858 as Bermuda’s first bank, Butterfield continues to play a pivotal role in the local economy. With its headquarters and largest operations based in Bermuda, Butterfield offers an extensive range of banking and wealth management services to its clients.
The Butterfield Group operates through three primary geographic segments: Bermuda, the Cayman Islands, the Channel Islands, and the United Kingdom. The bank’s core business encompasses retail and corporate banking, along with treasury activities within Bermuda and the Cayman Islands. These services are tailored to meet both individual and corporate financial needs.
In the realm of wealth management, Butterfield provides private banking, asset management, and personal trust services. These offerings are managed from its headquarters in Bermuda and subsidiary offices across the Bahamas, the Cayman Islands, Guernsey, Switzerland, and the United Kingdom. For corporate and institutional clients, Butterfield delivers comprehensive asset management and corporate trust services from its offices in Bermuda, the Bahamas, the Cayman Islands, and Guernsey.
As a publicly traded corporation, Butterfield’s shares are listed on the New York Stock Exchange under the symbol NTB. The majority of its revenue is derived from its operations in Bermuda and the Cayman Islands.
Recent achievements include a series of strategic partnerships and projects aimed at expanding its service offerings and enhancing client experience. Butterfield is committed to maintaining a strong financial condition, ensuring sustainable growth and value for its shareholders.
The Bank of N.T. Butterfield & Son Limited (NYSE: NTB) will announce its second quarter 2022 financial results on July 25, 2022, after the New York Stock Exchange closes. A conference call to discuss these results will be held on July 26, 2022, at 10:00 a.m. ET, with dial-in options available for US and international participants. The call will also be accessible via a live audio webcast on Butterfield's investor relations website. An audio replay will be available for 12 months starting July 26, 2022.
The Bank of N.T. Butterfield & Son Limited (NYSE: NTB) held its Annual General Meeting on May 25, 2022, where shareholders approved all agenda proposals. This included the re-election of key directors such as Michael Collins and Sonia Baxendale among others. The bank operates as a full-service bank and wealth manager, catering to clients in Bermuda, Cayman Islands, and other international locations.
The Bank of N.T. Butterfield & Son Limited (NTB) reported Q1 2022 net income of $44.4 million ($0.89 per share), up from $41.7 million in Q4 2021. Core net income rose to $44.7 million ($0.90 per share). The bank's net interest margin improved to 2.03%, while non-interest income was $49.9 million, down from $52.7 million in the previous quarter. Total assets stood at $15.3 billion. The board declared a quarterly dividend of $0.44 per share. The bank remains focused on capital management amid rising interest rates and improving economic conditions.
The Bank of N.T. Butterfield & Son Limited (NYSE: NTB) has announced the promotions of Michael Schrum to President and Group Chief Risk Officer, and Craig Bridgewater to Group Chief Financial Officer. Schrum, previously serving as Group CFO, brings over 25 years of financial services experience, while Bridgewater has extensive experience from his tenure at KPMG. These promotions come as the current Group Chief Risk Officer, Sabeth Siddique, is set to leave the company. The management changes aim to support Butterfield's long-term growth strategy.
The Bank of N.T. Butterfield & Son Limited (NYSE: NTB) plans to release its first quarter 2022 financial results post-market on May 2, 2022. An earnings conference call is scheduled for May 3, 2022 at 10:00 a.m. ET, accessible via phone or a live audio webcast. The replay of the call will be available for 12 months following the event. Butterfield, based in Bermuda, offers a range of banking and wealth management services across several jurisdictions, including the Cayman Islands and the UK. For more information, visit their investor relations page.
The Bank of N.T. Butterfield & Son Limited (NTB) reported strong financial results for Q4 and the full year 2021. Q4 net income reached $41.7 million, or $0.84 per share, with a 17.1% return on average common equity. For the year, net income increased to $162.7 million, up from $147.2 million in 2020. The bank declared a $0.44 dividend per share and initiated a new share repurchase program for up to 2 million shares. Key metrics include a net interest margin of 2.00% and total assets of $15.3 billion.
The Bank of N.T. Butterfield & Son Limited will release its fourth quarter and full year 2021 financial results on February 14, 2022, post the New York Stock Exchange close. An earnings conference call is scheduled for February 15, 2022, at 10:00 a.m. ET, with dial-in options available. Investors can also access a live audio webcast through the company's investor relations webpage. A replay of the call will be available for 12 months following the event. Butterfield operates as a full-service bank and wealth manager across several locations, including Bermuda and the Cayman Islands.
The Bank of N.T. Butterfield & Son Limited (NTB) reported third-quarter financial results for 2021, achieving a net income of $39.8 million, or $0.80 per share. This is a slight increase from $39.6 million in Q2 2021 and significantly up from $30.5 million in Q3 2020. Core net income remained stable at $40.0 million. The efficiency ratio improved to 66.5%. Total deposits rose to $13.9 billion, while net interest income increased to $75.7 million. The board declared a quarterly dividend of $0.44 per share, payable on November 24, 2021. The bank also agreed to a non-prosecution resolution with the US Department of Justice.
The Bank of N.T. Butterfield & Son Limited (NYSE: NTB) will release its third quarter 2021 financial results on October 27, 2021, after the NYSE closes. A subsequent earnings conference call is scheduled for October 28, 2021, at 10:00 a.m. ET. Investors can join the call via dial-in or watch a live audio webcast on Butterfield's investor relations website.
Butterfield offers a range of banking and wealth management services across several regions, including Bermuda, the Cayman Islands, and the UK, catering to individual and institutional clients.
The Bank of N.T. Butterfield & Son Limited (NYSE: NTB) announced a resolution with the U.S. Department of Justice regarding its legacy business with U.S. clients. The agreement, a three-year non-prosecution agreement (NPA), includes financial payments totaling $5.6 million for forfeiture and tax restitution. These payments align with provisions set in Butterfield's financial statements from 2015 and 2016. CEO Michael Collins expressed satisfaction with the resolution and noted improved compliance controls for U.S. client business.
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