Hashtag: #BankOfButterfield
Butterfield Bank: Free Silver Piggy Banks
As part of an effort to help children learn the importance of saving, the Bank of Butterfield has been providing a complementary piggy bank to each child born at King Edward VII Memorial Hospital since May 2010. Whilst still in the hospital, new mothers are provided with a card that allows them to visit any Butterfield Banking Centre in Bermuda to... Read more of this article
2nd Quarter: Butterfield Bank Income Climbs
The Bank of N.T. Butterfield & Son Limited today (Aug 5) announced second quarter net income of $200,000, compared with a net loss of $176.3 million for the first quarter 2010. After adjusting for preference share dividends, the net loss available to common shareholders was $4.3 million resulting in a fully diluted loss of $0.01 per share compared... Read more of this article
Largest Domestic Common Share Issue in BDA
The Bank of N.T. Butterfield & Son Limited today announced that all Rights Shares available under its $130 million Rights Offering have been subscribed, making it the largest domestic common share issue in Bermuda history. Demand among holders of ordinary shares and other investors exceeded the available supply. Bradford Kopp, Butterfield’s... Read more of this article
Butterfield Bank: 1st Quarter Loss of $176 Million
Bermuda oldest bank, the Bank of NT Butterfield have announced a first quarter net loss of $176.3 million for the three months ended March 31 2010, compared to a net loss of $20.8 million in the prior year. An approximate loss in this range was anticipated following the strategic restructuring and de-risking of the Bank’s balance sheet according to... Read more of this article
Argus Dividends Drop Due to Butterfield Deal
Bermudian insurance company Argus paid a reduced dividend to their shareholders in response to recent developments at the Butterfield Bank. After seeing a loss of $213.4 million in 2009, the Bank of Butterfield received a $550 million capital infusion. Investors included The Carlyle Group, Canadian Imperial Bank of Commerce [CIBC], Wellcome Trust,... Read more of this article
Butterfield Bank Deal: Looking at Julian Robertson
Looking at the lineup of entities who produced the $550 million investment in Bank of Butterfield yesterday, one name stands alone. The only individual listed – rather then a company – Julian Robertson has been dubbed the “Wizard of Wall Street. The 77 yr old is a self made billionaire*, who Forbes has ranked as high as #147 on its... Read more of this article
Bank of Butterfield Seeking Cash Infusion
The Bank of N.T. Butterfield & Son Limited announced this morning it is in discussions in an attempt to raise significant capital. They are in talks with “prominent institutional investors” in an effort to raise the funds. We have also been informed that the Bermuda Government is contemplating a direct investment in the Bank of Butterfield. The... Read more of this article
