Bank of N.T. Butterfield & Son (NTB) Company Report

Butterfield reported net income of $61.1 million and core earnings per share of $1.51 for Q3 2025.
The company's net interest margin increased by 9 basis points to 2.73% from the prior quarter, largely due to lower cost of deposits and the redemption of subordinated debt.
Butterfield announced a quarterly cash dividend of $0.50 per share and repurchased 700,000 shares at a cost of $30.3 million during the quarter.
Non-interest income increased to $61.2 million, and core non-interest expenses decreased compared to the prior quarter.

Oct 29, 2025, 2:00 PM

Butterfield Reports Strong Q3 2025 Results

NTB

Earnings

Dividends

Share Buyback

Butterfield reported net income of $61.1 million and core earnings per share of $1.51 for the third quarter of 2025.
The net interest margin (NIM) increased 9 basis points to 2.73%, primarily due to a 9 basis point decrease in the cost of deposits to 147 basis points.
Non-interest income grew by $4.2 million to $61.2 million, resulting in a fee income ratio of 39.9%.
The company declared a quarterly cash dividend of $0.50 per share and repurchased 700,000 shares at a cost of $30.3 million during the quarter.
Tangible book value per share improved by 5.4% to $25.06, reflecting an $18.5 million improvement in net unrealized losses in the FS portfolio.

Oct 29, 2025, 2:00 PM

Bank of N.T. Butterfield & Son Limited Reports Strong Q3 2025 Results

NTB

Earnings

Dividends

Share Buyback

Bank of N.T. Butterfield & Son Limited reported net income of $61.1 million and core net income of $63.3 million for Q3 2025, with core earnings per share of $1.51.
The company's net interest margin increased by 9 basis points to 2.73% in Q3 2025, primarily due to the cost of deposits falling 9 basis points to 147 basis points from the prior quarter.
Non-interest income totaled $61.2 million, an increase of $4.2 million over the last quarter, driven by higher banking fees and foreign exchange revenues, while core non-interest expenses decreased.
Butterfield announced a quarterly cash dividend of $0.50 per share and repurchased 700,000 shares at a cost of $30.3 million during the quarter.
The business environments in Bermuda and the Cayman Islands remain stable, with the Cayman Islands expecting a 2.5% GDP increase in 2025.

Oct 29, 2025, 2:00 PM

Bank of N.T. Butterfield & Son Ltd Reports Third Quarter 2025 Results

NTB

Earnings

Dividends

Share Buyback

Net income for the third quarter of 2025 was $61.1 million, or $1.46 per diluted common share, compared to $53.3 million ($1.25 per diluted common share) in the previous quarter and $52.7 million ($1.16 per diluted common share) in the third quarter of 2024.
Core net income for the third quarter of 2025 was $63.3 million, or $1.51 per diluted common share, an increase from $53.7 million ($1.26 per diluted common share) in the previous quarter and $52.8 million ($1.16 per diluted common share) in the third quarter of 2024.
The company's net interest margin for Q3 2025 was 2.73%, up from 2.64% in the prior quarter and 2.61% in Q3 2024.
Butterfield declared a quarterly cash dividend of $0.50 per share for the quarter ended September 30, 2025.
During the third quarter of 2025, the company repurchased 0.7 million shares at a total cost of $30.3 million.

Oct 28, 2025, 8:30 PM

Bank of N.T. Butterfield & Son Reports Strong Third Quarter 2025 Results

NTB

Earnings

Dividends

Share Buyback

Net income for Q3 2025 was $61.1 million, or $1.46 per diluted common share, an increase from $53.3 million ($1.25 per share) in Q2 2025 and $52.7 million ($1.16 per share) in Q3 2024.
Core net income for Q3 2025 reached $63.3 million, or $1.51 per diluted common share.
The company achieved a return on average common equity of 22.5% and a core return on average tangible common equity of 25.5% in Q3 2025.
Butterfield declared a quarterly cash dividend of $0.50 per share and repurchased 0.7 million shares at a total cost of $30.3 million during the quarter ended September 30, 2025.
Tangible book value per share rose to $25.06 at September 30, 2025, up from $21.70 at December 31, 2024, with a total regulatory capital ratio of 27.0%.

Oct 28, 2025, 8:30 PM

The Bank of N.T. Butterfield & Son Ltd Publishes Q2 2025 Capital and Risk Management Disclosures

NTB

Capital Adequacy

Debt Issuance

Accounting Changes

The Bank of N.T. Butterfield & Son Limited reported robust capital adequacy as of June 30, 2025, with a Common Equity Tier 1 (CET1) ratio of 26.0%, Tier 1 ratio of 26.0%, and Total capital ratio of 26.2%. These ratios significantly exceed the company's combined regulatory minimums of 10.0% for CET1, 11.5% for Tier 1, and 13.5% for Total Capital, which include a 3.0% D-SIB surcharge.
The company maintained strong liquidity and leverage positions as of June 30, 2025, with a Liquidity Coverage Ratio (LCR) of 154% and a Net Stable Funding Ratio (NSFR) of 148%, both well above the 100% minimum requirement, and a leverage ratio of 7.3% against a 5.0% regulatory minimum.
Total capital levels decreased from the second half of 2024 due to the early redemption of $100 million Tier 2-qualifying subordinated debt in June 2025.
Risk-weighted assets (RWA) decreased by approximately 2.0% with the adoption of the new credit risk framework effective January 1, 2025.
Defaulted loans increased in the first half of 2025, primarily driven by two residential mortgage facilities in the Channel Islands and UK segment, partially offset by loan settlements in Bermuda.