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Butterfield Bank Reports Second Quarter Profit

Butterfield Bank Reports Second Quarter Profit

The Bank of N.T. Butterfield & Son Limited today announced net income for the second quarter ended 30 June 2017, as well as changes in the composition of its Board of Directors. The Bank’s second quarter net income was $36.1 million, an increase of $0.2 million compared to $35.9 million earned in the first quarter of 2017. Core earnings for... Read more of this article

Bank Of Butterfield Adjusts Loan Rates

Bank Of Butterfield Adjusts Loan Rates

The Bank of N.T. Butterfield & Son Limited announced that, in step with today’s 25 basis point increase in the US Federal Funds Rate, the Bank has adjusted its Bermuda Dollar Base Rates on Bermuda Dollar loans. The Bermuda Dollar Base Rate for residential mortgages and consumer loans will increase from 4.25% to 4.50%. The Bermuda Dollar Base... Read more of this article

Fitch Upgrades Butterfield Bank’s Viability Rating

Fitch Upgrades Butterfield Bank’s Viability Rating

Fitch Ratings has upgraded the Bank of N.T. Butterfield & Son Limited’s Viability Rating [VR] to ‘bbb’ from ‘bbb-’ following its review of the bank. Fitch has also affirmed BNTB’s support-driven Long-Term Issuer Default Rating [IDR] of ‘BBB’. The Rating Outlook remains Stable. The ratings agency said,... Read more of this article

Butterfield Donates $2,000 For AC Endeavour

Butterfield Donates $2,000 For AC Endeavour

As an Official Supplier and the Official Bermuda Bank of the 2017 America’s Cup, the Bank of Butterfield held a denim day fundraiser in March with proceeds totalling $2,000 going towards supporting the Endeavour Programme. Several children of Butterfield employees have been a part of the Endeavour Programme, including Brianna Smith, Jadyn Hassell-Belboda,... Read more of this article

Butterfield Bank Q1 2017 Net Income: $35.9M

Butterfield Bank Q1 2017 Net Income: $35.9M

The Bank of N.T. Butterfield today announced net income for the first quarter ended 31 March 2017 of $35.9 million, an increase of $0.5 million compared to $35.4 million earned in the fourth quarter of 2016 and an increase of $9.1 million compared to $26.8 million earned in the same quarter a year ago. Core earnings for the first quarter ended 31 March... Read more of this article

Butterfield Grand Prix Road Race Results

Butterfield Grand Prix Road Race Results

The 2017 Butterfield Bermuda Grand Prix continued in St. David’s with a Road Race today [April 22]. Kaden Hopkins won a photo sprint finish ahead of Matthew Oliveira, Hopkins was clocked at 1:41:35.341, while Oliveira had a time of 1:41:35.345, Darren Glasford finished third in 1:41:40.539. The Women’s Division winner was Ashley Estwanik who rode... Read more of this article

Butterfield Bank Supporting ‘Seabin’ Program

Butterfield Bank Supporting ‘Seabin’ Program

The Bank of Butterfield  has joined the Seabin Global Pilot Program, and will install the pre-series V5 Hybrid Seabin at the marina at Hamilton Princess & Beach Club. The Seabin is a ‘floating trash can’ placed at marinas, docks, yacht clubs and commercial ports around the world as a part solution to the current global littering problem. Water... Read more of this article

Bank Of Butterfield Adjusts Loan Base Rates

Bank Of Butterfield Adjusts Loan Base Rates

The Bank of N.T. Butterfield & Son Limited announced that, in alignment with today’s 25 basis point increase in the US Federal Funds Rate, the Bank has adjusted its Bermuda Dollar Base Rates on Bermuda Dollar loans. “The Bermuda Dollar Base Rate for residential mortgages and consumer loans will increase from 4.00% to 4.25%. The Bermuda Dollar... Read more of this article

‘Carlyle No Longer Holds Any Common Shares’

‘Carlyle No Longer Holds Any Common Shares’

The Bank of Butterfield announced the closing of its secondary offering, and said following the closing “Carlyle no longer holds any Common Shares and the Investment Agreement between Butterfield and Carlyle has terminated.” The Bank said, “The Bank of N.T. Butterfield & Son Limited today announced the closing of its previously... Read more of this article

Butterfield Bank: Pricing Of Secondary Offering

Butterfield Bank: Pricing Of Secondary Offering

The Bank of Butterfield today [Feb 23] announced the pricing of a registered secondary offering by certain selling shareholders of 9,555,794 of Butterfield’s voting ordinary shares at a price to the public of $31.75 per share. “Butterfield will not receive any of the proceeds from the sale of the shares,” the Bank said. “The shares... Read more of this article

Butterfield Bank To Launch Secondary Offering

Butterfield Bank To Launch Secondary Offering

The Bank of Butterfield today announced that certain of its shareholders, including affiliates of The Carlyle Group, intend to offer 9,555,794 shares of Butterfield’s voting ordinary shares, par value $0.01 per share, in an underwritten public offering. “In addition, the Selling Shareholders intend to grant the underwriters a 30-day option... Read more of this article

Bank Of Butterfield Secondary Offering Of Stock

Bank Of Butterfield Secondary Offering Of Stock

The Bank of Butterfield announced today [Feb 13] that it plans to conduct a registered public secondary offering of shares of its common stock. “All of the shares sold in the offering will be sold by certain selling shareholders. The selling shareholders have not yet determined the number of shares to be offered, and the timing of the offering... Read more of this article

Bank Of Butterfield 2016 Net Income: $115.9M

Bank Of Butterfield 2016 Net Income: $115.9M

The Bank of N.T. Butterfield & Son Limited today [Feb 13] announced net income for the year ended 31 December 2016 of $115.9 million, an increase of $38.2 million compared to $77.7 million earned a year ago. The $42 million premium on the preference share redemption resulted in a $0.05 per share decrease in earnings per share to $1.18. After removing... Read more of this article