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.
The Bank of N.T. Butterfield & Son Limited ("Butterfield") (NYSE: NTB; BSX: NTB.BH) is a full-service bank and wealth manager headquartered in Hamilton, Bermuda. This news page focuses on company developments that affect Butterfield’s commercial banking and wealth management activities across Bermuda, the Cayman Islands, the Channel Islands, the UK and other key financial centers.
Investors following NTB news can track the bank’s quarterly and annual financial results, which are released with detailed commentary on net income, core net income, net interest margin, non-interest income, efficiency ratios and capital ratios. Earnings releases often explain movements in banking fees, foreign exchange revenue, trust income, asset management fees and operating expenses, offering insight into the drivers of profitability.
Butterfield’s disclosures also highlight capital management actions such as quarterly cash dividends and share repurchase programs authorized by the Board of Directors. News items have described repurchases of common shares, new repurchase authorizations and the bank’s stated priorities of supporting dividends, funding organic growth and evaluating potential acquisitions.
In addition, readers can find governance and leadership updates, including senior leadership appointments and the results of the Annual General Meeting, where shareholders vote on the election or re-election of directors. These announcements provide context on the bank’s executive team, board composition and risk and finance leadership roles.
Because Butterfield operates across multiple jurisdictions, its news flow can also include information related to regulatory frameworks, such as the adoption of the Basel Committee’s revised standardized approach for credit risk as required by the Bermuda Monetary Authority. Bookmark this page to access an organized feed of NTB news, from earnings releases and capital actions to leadership and governance updates.
The Bank of N.T. Butterfield & Son Limited (NTB) reported Q3 2022 net income of $57.4 million ($1.15/share), a significant rise from $49.1 million in Q2 2022 and $39.8 million in Q3 2021. Core net income reached $57.6 million ($1.16/share), driven by a robust net interest income of $91.2 million, fueled by rising interest rates. The bank declared a quarterly dividend of $0.44/share. The acquisition of Credit Suisse's trust business enhances Butterfield’s position in private client trusts. However, deposit levels fell to $12.5 billion, down from $13.9 billion in 2021, partly due to reduced pandemic-related deposits.
The Bank of N.T. Butterfield & Son Limited (NYSE: NTB) will release its third quarter 2022 financial results on October 31, 2022, after market close. An earnings conference call is scheduled for November 1, 2022, at 10:00 a.m. Eastern Time. Investors can join the call through dial-in options or a live audio webcast available on Butterfield’s investor relations page. The replay will be accessible for 12 months starting from the conference date. Butterfield operates primarily in Bermuda, the Cayman Islands, and Guernsey, offering banking and wealth management services.
The Bank of N.T. Butterfield & Son Limited (NTB) reported strong financial results for Q2 2022, with net income rising to $49.1 million ($0.99 per share), up from $44.4 million in the previous quarter. Core net income also increased to $50.2 million ($1.01 per share). The return on average common equity stood at 24.5% and core return on tangible common equity at 27.8%. Net interest margin improved to 2.26%, reflecting higher yields. A dividend of $0.44 per share was declared, payable on August 22, 2022. Overall, the bank demonstrated resilience and steady growth despite deposit normalization.
The Bank of N.T. Butterfield & Son Limited (NYSE: NTB) announced the retirement of Michael Covell from its Board of Directors effective July 25, 2022. Covell, who joined the board in 2018, contributed significantly to discussions regarding private wealth and trust. His departure reduces the Board to nine Directors. CEO Michael Collins expressed gratitude for Covell's insights and contributions during his tenure.
Butterfield, headquartered in Hamilton, Bermuda, provides a range of banking and wealth management services across multiple jurisdictions.
The Bank of N.T. Butterfield & Son Limited (NYSE: NTB) has received an unsolicited mini-tender offer from New York Stock and Bond LLC for up to 50,000 ordinary shares at $21.00 each, representing a 34% discount from the market price on July 14, 2022. Butterfield advises shareholders against accepting the offer, emphasizing that it is below market value. The SEC has raised concerns about mini-tender offers, highlighting risks for investors who may tender shares without considering the market price.
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.