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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

Butterfield Wind Down London Private Banking

Butterfield Wind Down London Private Banking

The Bank of N.T. Butterfield has completed the orderly wind-down of its London-based private banking business and has fully discontinued its deposit-taking and investment management services in the UK. Butterfield will continue to provide a high net worth residential mortgage service in London through its UK subsidiary, which has changed its name from... Read more of this article

Bank Of Butterfield: ‘This Statement Is False’

Bank Of Butterfield: ‘This Statement Is False’

In response to incorrect information circulating on social media, the Bank of Butterfield moved to assure customers that “this statement is false and that it is safe to conduct banking transactions using Butterfield ATMs.”A Bank spokesperson said, “There is a message being circulated in our community over social media channels indicating... Read more of this article

Butterfield Donates $5,000 To The Family Centre

Butterfield Donates $5,000 To The Family Centre

The Bank of Butterfield recently presented The Family Centre with a $5,000 donation; the proceeds of its employee Holiday Raffle ticket sales. Throughout November, Butterfield employees had the opportunity to purchase $1 Holiday Raffle tickets for a chance to win some great prizes, including vacation days, a travel voucher, retail gift certificates... Read more of this article

FAC & Butterfield Lower Charities Processing Fee

FAC & Butterfield Lower Charities Processing Fee

First Atlantic Commerce [FAC], a Bermuda-based, global payment gateway, and Butterfield, a full service community bank and provider of specialised international financial services,  announced they will “provide local charities with best possible rates for online credit card processing.” “FAC will provide online gateway transaction... Read more of this article

Bank Of Butterfield Adjusts Loan Rates

Bank Of Butterfield Adjusts Loan Rates

The Bank of Butterfield 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 3.75% to 4.00%, Butterfield’s first rate increase... Read more of this article

Banker Names Butterfield “Bank Of The Year”

Banker Names Butterfield “Bank Of The Year”

International banking industry publication, The Banker, has named The Bank of N.T. Butterfield & Son Limited [Butterfield] the recipient of its “Bank of the Year 2016” Award in Bermuda for the fourth consecutive year. The Banker, a Financial Times publication, is a highly regarded UK-based periodical that each year selects banks in over 100... Read more of this article

Butterfield To Effect Mandatory Redemption

Butterfield To Effect Mandatory Redemption

The Bank of N.T. Butterfield & Son Limited today [Nov 10] announced that it will effect a mandatory redemption of its 8.00% Non-Cumulative Perpetual Limited Voting Preference Shares par value $0.01 per share on December 15, 2016. A spokesperson said, “The Board of Directors determined that it is an appropriate time to redeem the Preference... Read more of this article