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The Bank of N.T. Butterfield & Son Limited - NTB STOCK NEWS

Welcome to our dedicated page for The Bank of N.T. Butterfield & Son news (Ticker: NTB), a resource for investors and traders seeking the latest updates and insights on The Bank of N.T. Butterfield & Son stock.

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.

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Butterfield (NYSE: NTB) reported Q2 2024 financial results with net income of $50.6 million ($1.09 per share) and core net income of $51.4 million ($1.11 per share). The bank achieved a return on average common equity of 20.7% and a net interest margin of 2.64%. Key highlights include:

- Declared quarterly dividend of $0.44 per share
- Approved new share repurchase authorization for up to 2.1 million common shares
- Appointed Stephen E. Cummings as Independent Director
- Period-end deposit balances increased 4.7% to $12.5 billion
- Tangible book value per share improved by 3.0% to $20.03

The bank maintained a strong capital position with a total regulatory capital ratio of 24.8% under Basel III.

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The Bank of N.T. Butterfield & Son (NYSE: NTB | BSX: NTB.BH) will release its second-quarter 2024 financial results on July 22, 2024, following the New York Stock Exchange's closing. The company will host an earnings conference call on July 23, 2024, at 10:00 a.m. Eastern Time. Interested parties can dial in toll-free from the US at +1 (844) 855 9501, internationally at +1 (412) 858 4603, using the Conference ID: Butterfield Group. Additionally, a live webcast will be available on Butterfield's investor relations webpage. An audio replay of the conference call will remain accessible for 12 months starting July 23, 2024.

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The Bank of N.T. Butterfield & Son released the voting results of its 2024 Annual General Meeting, where all proposed agenda items were approved, including the re-election of eight Directors.

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Butterfield reported solid first quarter 2024 financial results, with net income of $53.4 million, core net income of $55.0 million, a return on average common equity of 21.5%, and a core return on average tangible common equity of 24.5%. The bank declared a dividend of $0.44 per share for the quarter. Net interest margin was 2.68% and non-interest income decreased slightly. Operating returns have been consistent, and the bank remains highly liquid with strong capital levels.
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The Bank of N.T. Butterfield & Son (NYSE: NTB | BSX: NTB.BH) will report Q1 2024 financial results on April 23, 2024, with an earnings conference call on April 24, 2024. Investors can access the call via dial-in or live audio webcast.
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The Bank of N.T. Butterfield & Son appoints Simon Des-Etages as General Counsel and Group Chief Legal Officer. Des-Etages brings over 30 years of legal experience in the banking industry, previously holding roles at American Express, Merrill Lynch, and HSBC.
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Butterfield reported strong financial results for Q4 2023 and full year 2023, with net income of $225.5 million and $53.5 million respectively. Core net income stood at $231.5 million and $55.3 million for the same periods. The return on average common equity was 24.2% for the full year, with a core return on average tangible common equity of 27.0%. The bank declared a dividend of $0.44 per share for Q4 2023 and announced a new share repurchase program for up to 3.5 million common shares.
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The Bank of N.T. Butterfield & Son Limited will release its Q4 and full year 2023 financial results on February 12, 2024, with an earnings conference call scheduled for February 13, 2024. The call can be accessed via dial-in or live audio webcast, with a replay available for 12 months. The ticker symbol for Butterfield is NTB on NYSE and NTB.BH on BSX.
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The Bank of N.T. Butterfield & Son Limited announces the promotion of Michael Neff to Group Chief Operating Officer, Jody Feldman to Managing Director of Bermuda, and Kevin Dallas to Group Chief Experience Officer. The new appointments strengthen the leadership team with a focus on operational effectiveness and client services.
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Butterfield & Son Limited (BSX: NTB.BH; NYSE: NTB) approved a $90 million share repurchase program to buy up to 3.5 million of its ordinary shares through December 31, 2024. The program aims to utilize capital efficiently and provide shareholder return through dividends and repurchases.
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FAQ

What services does The Bank of N.T. Butterfield & Son Limited offer?

Butterfield provides retail and corporate banking, wealth management, private banking, asset management, and personal and corporate trust services.

Where is the headquarters of Butterfield located?

Butterfield's headquarters is located in Bermuda.

When was The Bank of N.T. Butterfield & Son Limited established?

Butterfield was established in 1858 as Bermuda’s first bank.

In which regions does Butterfield operate?

Butterfield operates in Bermuda, the Cayman Islands, the Channel Islands, the United Kingdom, the Bahamas, Guernsey, and Switzerland.

What is Butterfield's stock symbol?

Butterfield's stock symbol is NTB, and it is listed on the New York Stock Exchange.

What are the main sources of Butterfield's revenue?

The main sources of Butterfield's revenue are its operations in Bermuda and the Cayman Islands.

Does Butterfield provide services to corporate clients?

Yes, Butterfield offers asset management and corporate trust services to corporate and institutional clients.

What recent achievements has Butterfield made?

Recent achievements include strategic partnerships and projects aimed at expanding service offerings and enhancing client experience.

What are Butterfield's primary business segments?

Butterfield's primary business segments are retail and corporate banking, and wealth management.

How does Butterfield contribute to the local economy?

Butterfield plays a significant role in the local economy of Bermuda through its full range of community banking services.

The Bank of N.T. Butterfield & Son Limited

NYSE:NTB

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1.83B
46.94M
1.14%
64.58%
0.62%
Commercial Banking
Finance and Insurance
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