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November 24, 2015 7:12 PM ET


Company Overview of The Bank of NT Butterfield & Son Limited

Company Overview

The Bank of N.T. Butterfield & Son Limited, a community bank, provides various specialized financial services. The company operates in six segments: Bermuda, Cayman, Guernsey, Switzerland, The Bahamas, and United Kingdom. It offers current and chequing accounts, savings accounts, and fixed term deposits; personal loans, mortgages, home equity loans, and overdraft protection services; debit and credit cards; and Internet and automated teller machines banking services. The company also provides investment solutions and services, such as investment products, brokerage, and portfolio management services; home and contents, motor car and motorcycle, yacht and pleasure craft, creditor life insuran...

65 Front Street

Hamilton,  HM 12


Founded in 1858





Key Executives for The Bank of NT Butterfield & Son Limited

The Bank of NT Butterfield & Son Limited does not have any Key Executives recorded.

The Bank of NT Butterfield & Son Limited Key Developments

The Bank of NT Butterfield & Son Limited Announces Earnings Results for the Third Quarter Ended September 30, 2015

The Bank of NT Butterfield & Son Limited announced earnings results for the third quarter ended September 30, 2015. Core earnings for the quarter ended 30 September 2015 were $29.3 million, up $2.2 million from $27.1 million in 2014, an improvement of 8.1%. After including non-core items outside the course of normal business of $3.6 million in the third quarter of 2015 and $4.3 million in 2014, total net income for the third quarter of 2015 was $25.7 million, an increase of $2.9 million compared to third quarter of 2014 net income of $22.8 million. The return on average common equity for the third quarter improved to 15.0% in 2015, compared to 10.9% in the third quarter of 2014. Reported net income for the third quarter was $25.7 million or $0.05 per share on a fully diluted basis compared to $22.8 million or $0.03 per share on a fully diluted basis in the same quarter a year ago, up $2.9 million.

The Bank of NT Butterfield & Son Limited Declares Quarterly Dividend on Preference Shares, Payable on December 15, 2015; Declares Interim Dividend, Payable on November 27, 2015; Announces Resignation of Brendan Mcdonagh as Executive Chairman

The Board of The Bank of NT Butterfield & Son Limited declared quarterly dividends of $20 per share on the Bank’s 8% non-cumulative perpetual voting preference shares, to be paid on 15 December 2015 to preference shareholders of record on 1 December 2015. The Board also declared an interim dividend of $0.01 per common share to be paid on 27 November 2015 to shareholders of record on 13 November 2015. The Bank announced that Brendan McDonagh, Executive Chairman, has informed the Board of his plans to step down from his post at the company, effective immediately. Mr. McDonagh has agreed to continue to be available to the Board and the Bank’s senior management to ensure a seamless transition.

The Bank of NT Butterfield & Son Limited Announces Executive Changes

The Bank of N.T. Butterfield & Son Limited announced the appointment of Michael Schrum as Group Chief Financial Officer with effect from September 21, 2015. Mr. Schrum joins Butterfield from HSBC Bank Bermuda Limited, where he was CFO. He has more than 20 years of financial services experience in London, New York and Bermuda, mainly in banking, insurance and tax. Mr. Schrum replaces John Maragliano who relocated to Canada at the end of July after more than 13 years with Butterfield.

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