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Butterfield Bank Financial Results For 2019 Q2

Butterfield Bank Financial Results For 2019 Q2

The Bank of Butterfield today announced financial results for the second quarter ended June 30, 2019. Net income for the second quarter was $38.6 million or $0.72 per diluted common share, compared to $52.1 million or $0.96 per common share for the previous quarter and $49.7 million, or $0.89 per common share in the second quarter of 2018. Second... Read more of this article

Carter Continues Work With Bank Foundation

Carter Continues Work With Bank Foundation

After nearly two years as Programme Consultant for Bank of Bermuda Foundation, Vivien Carter “remains upbeat and excited about liaising with Bermuda’s non-profits on the grant-giving process and requirements under the Foundation’s Theory of Change [ToC].” A spokesperson said, “Introduced for the first time during the 2017 grant-giving... Read more of this article

Butterfield Announces Management Changes

Butterfield Announces Management Changes

The Bank of Butterfield announced that Daniel Frumkin, Group Chief Operating Officer, has informed the Bank of his decision to step down from his post, effective immediately. Mr. Frumkin has agreed to continue to be available to the Bank’s senior management to ensure a seamless transition. As a result of this departure, Michael Neff, Managing Director... Read more of this article

Results Of Vote At Bank Of Butterfield AGM

Results Of Vote At Bank Of Butterfield AGM

The Bank of Butterfield announced the results of the Shareholders’ vote at the Bank’s 115th Annual General Meeting held earlier today. “Each of the proposals numbered 1 through 3 on the Meeting Agenda was approved by the requisite vote, including the re-election as directors of all persons nominated: Michael Collins, Alastair Barbour, James... Read more of this article

HSBC Raising Various Fees Effective July 1st

HSBC Raising Various Fees Effective July 1st

HSBC Bank Bermuda is advising that effective on Monday, July 1st they will be making various fee adjustments. In an email sent to customers, the Bank said, “At HSBC, we recognize the importance of keeping you informed when it comes to your banking; notifying you about upcoming fee changes is an important part of this. “Please be advised that... Read more of this article

HSBC Plan Changes To Online Banking Platform

HSBC Plan Changes To Online Banking Platform

HSBC Bank Bermuda plan to make changes to their online banking for personal banking customers, saying that they will first implement changes to the internet banking platform, which will have a “fresh new look and feel.”In an email sent to customers, the bank said, “Over the coming weeks we are making some exciting changes to HSBC... Read more of this article

Butterfield Bank: April Share Repurchases

Butterfield Bank: April Share Repurchases

In a filing with the Bermuda Stock Exchange, the Bank of N.T. Butterfield & Son Limited advised that during the month of April 2019, the Bank purchased for Treasury 340,000 Common Shares at an average price of $36.89 per share. Related StoriesResults Of Vote At Bank Of Butterfield AGM Butterfield Streamlines, Closes Rosebank Centre Butterfield... Read more of this article

HSBC Increases Its Retail Base Lending Rate

HSBC Increases Its Retail Base Lending Rate

HSBC Bank Bermuda Limited announced today [May 1] that it will increase its base lending rate by 0.25%, effective 1 July 2019. “This will be the bank’s first base lending increase since 2010,” the bank said. “The base rate for Bermuda dollar residential mortgages and consumer loans will increase by 0.25% to 3.75%. The base rate... Read more of this article

Bank of Butterfield Financial Results For 2019 Q1

Bank of Butterfield Financial Results For 2019 Q1

The Bank of Butterfield announced financial results for the first quarter ended March 31, 2019. Net income for the first quarter was $52.1 million or $0.96 per diluted common share, compared to $50.9 million or $0.92 per common share for the previous quarter and $44.2 million, or $0.79 per common share in the first quarter of 2018. First quarter core... Read more of this article

Butterfield Bank To Acquire ABN AMRO Limited

Butterfield Bank To Acquire ABN AMRO Limited

In a filing with the Bermuda Stock Exchange [BSX], the Bank of Butterfield announced it has entered into a definitive agreement to acquire a Channel Islands-based banking business. The filing stated: “The Bank of N.T. Butterfield & Son Limited, a leading offshore bank and trust company headquartered in Bermuda with significant operations in... Read more of this article

Premier Burt On Job Losses At Butterfield Bank

Premier Burt On Job Losses At Butterfield Bank

The Government is “disappointed at the loss of Bermudian jobs” at Butterfield Bank, Premier David Burt said, adding that they will work to ensure former employees have the needed support, and also “increase efforts to diversify our banking sector.” The Premier’s comments follow after the Bank of Butterfield confirmed... Read more of this article

Butterfield Streamlines, Closes Rosebank Centre

Butterfield Streamlines, Closes Rosebank Centre

Bank of Butterfield completed a “multi-faceted streamlining initiative” in which 30 employees in Bermuda accepted voluntary early retirement packages, 11 positions were made redundant, and Butterfield’s Rosebank Banking Centre and Drive-Thru Teller Services in Hamilton have closed effective today.The full filing with the BSX stated,... Read more of this article

Butterfield Bank: March Share Repurchases

Butterfield Bank: March Share Repurchases

In a filing with the Bermuda Stock Exchange, The Bank of N.T. Butterfield & Son advised that during the month of March 2019, the Bank purchased for Treasury 360,000 Common Shares at an average price of $37.31 per share. Related StoriesResults Of Vote At Bank Of Butterfield AGM Butterfield Bank: April Share Repurchases Butterfield... Read more of this article