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Butterfield Bank: December Share Repurchases

Butterfield Bank: December Share Repurchases

In a filing with the Bermuda Stock Exchange, The Bank of N.T. Butterfield & Son Limited advised that during the month of December 2018, the Bank purchased for Treasury 254,212 Common Shares at an average price of $32.48 per share. Related StoriesButterfield To Effect Mandatory Redemption Bank Of Butterfield Adjusts Interest Rates Butterfield... Read more of this article

Clarien CEO Ian Truran Appointed To Board

Clarien CEO Ian Truran Appointed To Board

Clarien Bank announced today [Jan 8] the appointment of CEO Ian Truran to the Clarien Bank Board of Directors, effective January 1, 2019. Patrick Hylton, Chairman of the Board, commented: “With more than 25 years in the banking industry and exemplary leadership as CEO of Clarien Bank, I welcome Ian Truran to the Clarien Bank Board of Directors. Ian’s... Read more of this article

Clarien Announces 126% Increase In Net Profits

Clarien Announces 126% Increase In Net Profits

Clarien Bank, a wholly-owned subsidiary of Clarien Group Limited [CGL] today [Jan 7] announced a net profit for 9 months ended September 30, 2018 of $7.3 million – a 126% increase over the previous 12 months. “The continuing improvement in the Bank’s financial performance was driven by Clarien’s strategic partnership with majority shareholder... Read more of this article

Bank Of Butterfield Adjusts Interest Rates

Bank Of Butterfield Adjusts Interest 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 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... Read more of this article

Clarien Base Lending Rates Remain Unchanged

Clarien Base Lending Rates Remain Unchanged

Clarien Bank announced that base lending rates will remain unchanged amid the US Federal Reserve rate increase announced today [Dec 19]. The Clarien Bank Bermuda Dollar Base rate for personal mortgages will remain 4.50% and 4.75% for commercial mortgages. CEO of Clarien Bank Limited, Ian Truran commented: “The decision not to increase base lending... Read more of this article

Butterfield Bank Share Repurchase Program

Butterfield Bank Share Repurchase Program

In a filing with the Bermuda Stock Exchange, The Bank of N.T. Butterfield & Son Limited announced that its Board of Directors has approved a new share repurchase program. The filing states: “The Bank of N.T. Butterfield & Son Limited today announced that its Board of Directors has approved a new share repurchase program pursuant to which... Read more of this article

‘Discussed Ways To Lower Cost Of Mortgages’

‘Discussed Ways To Lower Cost Of Mortgages’

Premier David Burt and newly sworn in Minister of Finance Curtis Dickinson met with HSBC’s outgoing and newly appointed CEOs, Steve Banner and Mark Watkinson, to discuss “ways to lower the cost of mortgages” and “strategies to increase lending to small businesses.” Premier Burt tweeted the photos below, saying: “Min.... 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

Steve Banner Appointed CEO Of HSBC Bermuda

Steve Banner Appointed CEO Of HSBC Bermuda

HSBC announced that Steve Banner will be appointed as the new CEO of HSBC Bank Bermuda, subject to regulatory approvals. This appointment will be effective as of November 12, 2018. He will succeed Mark Watkinson, who will be retiring from the HSBC Group after a 33-year career in which he held a number of senior management positions across 10 countries. Chris... 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

Bank Foundation Changes Scholarship Approach

Bank Foundation Changes Scholarship Approach

The Bank of Bermuda Foundation has changed its process for awarding scholarships to Bermuda’s students, with a focus on its newly developed ‘Theory of Change.’ “The philanthropic organisation recently underwent an intensive strategic planning process, out of which a new and innovative direction for grant giving and scholarship awards... 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

House Passes Bill: New Bank Class For Fintech

House Passes Bill: New Bank Class For Fintech

The House of Assembly passed a Bill to create a new class of bank to serve Bermuda-based Fintech companies. After the Bill passed last night, Premier David Burt tweeted, “House of Assembly passes bill to create new class of bank to serve Bermuda based Fintech companies. Now moves to Senate for ratification.”In tabling the Bill last month,... Read more of this article