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Butterfield Named Trust Company Of The Year

Butterfield Named Trust Company Of The Year

Butterfield Trust was named Trust Company of the Year [Large Firm] at the STEP Private Client Awards held in London on 7 November 2018. STEP—the Society of Trust and Estate Practitioners—is the worldwide professional association for those advising families across generations. STEP Private Client Awards are highly respected in the industry, with... Read more of this article

Butterfield Bank: October Share Repurchases

Butterfield Bank: October Share Repurchases

In a filing with the Bermuda Stock Exchange, The Bank of N.T. Butterfield & Son Limited today advised that during the month of October 2018, the Bank purchased for Treasury 514,137 Common Shares at an average price of $39.13 per share. Related StoriesButterfield Adjusts Rates On Deposits & Loans Butterfield Increases Term Deposit... Read more of this article

Butterfield Reports Third Quarter 2018 Results

Butterfield Reports Third Quarter 2018 Results

The Bank of  Butterfield today announced financial results for the quarter ended September 30, 2018. Third quarter core net income was $49.1 million, or $0.88 per diluted common share, compared to $51.7 million, or $0.93 per diluted common share in the previous quarter and $40.7 million, or $0.73 per diluted common share, for the third quarter of... Read more of this article

Butterfield Award Scholarships To Three Students

Butterfield Award Scholarships To Three Students

The Bank of Butterfield announced their 2018 scholarship winners – Chanah Bremar, Ryan Dowling and Selena Dasilva. A spokesperson said, “The Bank of N.T. Butterfield & Son Limited announced the recipients of its 2018 scholarship awards: Chanah Bremar [Sir Harry D. Butterfield Undergraduate Scholarship]; Ryan Dowling [Butterfield... Read more of this article

Butterfield Adjusts Rates On Deposits & Loans

Butterfield Adjusts Rates On Deposits & Loans

The Bank of Butterfield announced that, in step with today’s 25 basis point increase in the US Federal Funds Rate, the Bank is adjusting its interest rates on fixed-term deposits and loans. Deposit Rates “To provide customers with the opportunity to earn higher returns on Bermuda dollar and US dollar deposits, rates paid on fixed-term deposits... Read more of this article

Butterfield Bank Issuing Chip & PIN Debit Cards

Butterfield Bank Issuing Chip & PIN Debit Cards

The Bank of Butterfield has “commenced the mass reissue of its Debit Mastercard Cards with both ‘Chip and PIN’ technology and the contactless ‘RFID’ payment technology,” the company said today. “This means the security of the Card has been enhanced and you now have the option of a quicker checkout process.... Read more of this article

13 Local Jobs Cut In Butterfield ‘Restructuring’

13 Local Jobs Cut In Butterfield ‘Restructuring’

Butterfield has confirmed a “restructuring” has resulted in 23 jobs being lost, with thirteen of those in Bermuda. The other six jobs are in the Cayman Islands, while four are in Guernsey. “Customer services will not be impacted by the changes,” Butterfield said, with the company also noting that in calendar 2018, Butterfield... Read more of this article

Butterfield Appoints Neff, Expands Committee

Butterfield Appoints Neff, Expands Committee

In a filing with the Bermuda Stock Exchange [BSX], The Bank of N.T. Butterfield & Son Limited announced the appointment of Michael Neff, Managing Director, Bermuda. The filing stated, “The Bank of N.T. Butterfield & Son Limited today appointed Michael Neff, Managing Director, Bermuda in which capacity he will be responsible for Butterfield’s... Read more of this article

Video: Butterfield Rings NYSE Closing Bell

Video: Butterfield Rings NYSE Closing Bell

Michael Collins, Butterfield’s Chairman and Chief Executive Officer rang the New York Stock Exchange [NYSE] Closing Bell on July 23rd to commemorate the company’s 160th anniversary, with members of the Bank’s Board of Directors joining Mr Collins at the Bell Podium.According to their website, “Butterfield is Bermuda’s first bank,... Read more of this article

Butterfield Bank Reports Second Quarter Results

Butterfield Bank Reports Second Quarter Results

The Bank of N.T. Butterfield & Son Limited today announced financial results for the quarter ended June 30, 2018. Second quarter core net income was $51.7 million, or $0.93 per diluted common share, compared to $45.0 million, or $0.81 per diluted common share in the previous quarter and $37.5 million, or $0.67 per diluted common share, for the... Read more of this article

Butterfield Increases Term Deposit Rates

Butterfield Increases Term Deposit Rates

The Bank of Butterfield announced that it will not increase interest rates on residential mortgages or Bermuda dollar consumer loans in response to the 25 basis point increase in the US Federal Funds Rate, and will increase interest rates on fixed-term deposits. Deposit Rates The Bank said, “To provide customers with the opportunity to earn higher... Read more of this article

Butterfield Bank: Pricing Of Registered Offering

Butterfield Bank: Pricing Of Registered Offering

The Bank of Butterfield announced the pricing of a registered offering of $75 million aggregate principal amount of Butterfield’s 5.25% Fixed to Floating Rate Subordinated Notes due 2028. “Butterfield intends to use the net proceeds from this offering to repay a portion of its outstanding indebtedness and for other general corporate purposes,”... Read more of this article

Butterfield Bank Reports First Quarter Results

Butterfield Bank Reports First Quarter Results

The Bank of N.T. Butterfield & Son Limited announced financial results for the quarter ended March 31, 2018. First quarter core net income was $45.0 million, or $0.81 per diluted common share, compared to $42.2 million, or $0.76 per diluted common share for the fourth quarter of 2017 and $38.5 million, or $0.70 per diluted common share, for the... Read more of this article