Welcome to our dedicated page for Bank of N.T. Butterfield & Son news (Ticker: NTB), a resource for investors and traders seeking the latest updates and insights on Bank of N.T. Butterfield & Son stock.
Bank of N.T. Butterfield & Son Ltd (NTB) provides trusted financial services across Bermuda, the Cayman Islands, and international markets through its community banking and wealth management expertise. This page serves as a centralized hub for investors and stakeholders seeking authoritative updates on the company’s developments.
Access real-time press releases covering earnings reports, leadership changes, regulatory filings, and strategic initiatives. Our curated collection ensures you stay informed about NTB’s community banking operations, private wealth services, and international financial activities without needing to track multiple sources.
Key updates include quarterly financial results, corporate governance announcements, and service expansions in trust management or corporate banking. Bookmark this page for streamlined access to NTB’s official communications, enabling data-driven decisions grounded in verified company disclosures.
The Bank of N.T. Butterfield & Son Limited (NTB) reported a net income of $62.2 million ($1.24 per share) for Q1 2023, down from $63.1 million ($1.26 per share) in Q4 2022, and up from $44.4 million ($0.89 per share) in Q1 2022. Key metrics include a return on average common equity of 28.0% and a net interest margin of 2.88%. The board declared a dividend of $0.44 per share, payable on May 22, 2023. The bank successfully completed the first closing of its acquisition of Credit Suisse trust assets, enhancing its position in Singapore. However, net interest income increased to $97.4 million, while non-interest income fell to $50.2 million. Total deposits decreased by 4.6% to $12.3 billion due to client fund activations. The bank's capital ratios remained strong, with a total regulatory capital ratio of 26.2%. Overall, the results reflect a solid start to 2023 despite some declines in income metrics.
The Bank of N.T. Butterfield & Son Limited (NYSE: NTB) has entered a non-prosecution agreement (NPA) with the U.S. government to avoid prosecution over tax evasion allegations. This agreement requires the bank to cooperate with IRS investigations and hand over 386 client files of U.S. taxpayers who may have violated tax laws. Butterfield will pay $5.6 million, primarily covering fees for its services that enabled tax evasion. U.S. client accounts at Butterfield hold approximately $433 million in assets. The agreement's three-year term mandates ongoing compliance, with potential consequences for non-cooperation.
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