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Bank of N.T. Butterfield & Son Ltd
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Last updated Oct 16, 2026.
Overview
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Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Key numbers, fiscal 2025
What sells
Revenue by product, business segment and region, as the company reports it to the SEC.
Business segments
Bermuda brought in 43% of the revenue Bank of N.T. Butterfield & Son Ltd broke down this way in fiscal 2025.
Business segments by year
| Business segments | 2023 | 2024 | 2025 |
|---|---|---|---|
| Bermuda | $269.9M | $262.0M | $273.7M |
| Cayman | $200.6M | $189.5M | $197.4M |
| Channel Islands And United Kingdom | $91.6M | $108.3M | $114.6M |
| Other Operating | $35.9M | $42.6M | $46.6M |
Where the money goes
Where each dollar of revenue went, fiscal 2025
- Other costs61¢$368.8M
- Income tax1¢$6.0M
- Profit38¢$231.9M
Out of $606.8M in revenue.2
Where each dollar of operating cash went, fiscal 2025
- Dividends paid28¢$77.7M
- Share buybacks52¢$146.7M
- Kept or used elsewhere20¢$55.2M
Out of $279.6M of cash from operations.2
Financial statements
No quarterly figures reported.
Every line of the income statement in the latest annual report, as filed.2
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Asset management | $39.2M | $36.3M | $32.5M |
| Banking | $67.4M | $63.7M | $58.8M |
| Foreign exchange revenue | $52.5M | $51.2M | $46.1M |
| Trust | $65.8M | $61.3M | $57.8M |
| Custody and other administration services | $13.8M | $13.8M | $13.3M |
| Other non-interest income | $4.1M | $3.6M | $3.8M |
| Total non-interest income | $242.9M | $230.0M | $212.3M |
| Interest and fees on loans | $277.4M | $304.1M | $317.4M |
| Available-for-sale | $77.8M | $48.9M | $35.6M |
| Held-to-maturity | $70.7M | $75.6M | $80.5M |
| Cash and cash equivalents, securities purchased under agreements to resell and short-term investments | $131.2M | $157.1M | $112.1M |
| Total interest income | $557.1M | $585.7M | $545.6M |
| Deposits | $189.1M | $227.0M | $170.5M |
| Long-term debt | $3.7M | $5.5M | $8.1M |
| Securities sold under agreements to repurchase | $220.0K | $2.0M | $75.0K |
| Total interest expense | $193.0M | $234.5M | $178.7M |
| Net interest income before provision for credit losses | $364.1M | $351.2M | $367.0M |
| Provision for credit (losses) recoveries | -$217.0K | -$1.7M | -$4.5M |
| Net interest income after provision for credit losses | $363.9M | $349.5M | $362.5M |
| Net gains (losses) on equity securities | $0 | $0 | $43.0K |
| Net realized gains (losses) on available-for-sale investments | $0 | $0 | -$14.0K |
| Net gains (losses) on other real estate owned | $0 | $50.0K | -$40.0K |
| Net other gains (losses) | $20.0K | $327.0K | $3.8M |
| Total other gains (losses) | $20.0K | $377.0K | $3.8M |
| Total net revenue | $606.8M | $579.9M | $578.6M |
| Salaries and other employee benefits | $182.6M | $174.0M | $177.9M |
| Technology and communications | $65.0M | $66.1M | $62.0M |
| Professional and outside services | $21.9M | $22.7M | $21.1M |
| Property | $34.1M | $34.1M | $31.4M |
| Indirect taxes | $23.3M | $22.7M | $21.5M |
| Non-service employee benefits expense | $5.5M | $3.9M | $5.6M |
| Marketing | $6.8M | $6.5M | $6.5M |
| Amortization of intangible assets | $8.0M | $8.0M | $5.7M |
| Other expenses | $21.5M | $21.1M | $20.8M |
| Total non-interest expense | $368.8M | $359.1M | $352.3M |
| Net income before income taxes | $238.0M | $220.8M | $226.3M |
| Income tax benefit (expense) | -$6.0M | -$4.5M | -$767.0K |
| Net income | $231.9M | $216.3M | $225.5M |
| Basic earnings per share (in dollars per share) | $5.61 | $4.80 | $4.62 |
| Diluted earnings per share (in dollars per share) | $5.47 | $4.71 | $4.58 |
No quarterly figures reported.
Every line of the balance sheet in the latest annual report, as filed.2
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Cash and demand deposits with banks - Non-interest bearing | $105.4M | $93.1M | |
| Demand deposits with banks - Interest bearing | $171.2M | $165.7M | |
| Cash equivalents - Interest bearing | $1.4B | $1.7B | |
| Cash and cash equivalents | $1.7B | $2.0B | |
| Securities purchased under agreements to resell | $1.1B | $1.2B | |
| Short-term investments | $756.5M | $580.0M | |
| Available-for-sale investments | $2.7B | $2.3B | |
| Held-to-maturity | $3.0B | $3.2B | |
| Total investment in securities | $5.7B | $5.5B | |
| Loans | $4.4B | $4.5B | |
| Allowance for credit losses | -$25.4M | -$25.7M | -$25.8M |
| Loans, net of allowance for credit losses | $4.4B | $4.5B | |
| Premises, equipment and computer software, net | $158.5M | $153.8M | |
| Goodwill | $25.4M | $23.6M | $24.1M |
| Other intangible assets, net | $61.4M | $66.0M | |
| Equity method investments | $6.8M | $6.6M | |
| Accrued interest and other assets | $210.4M | $211.5M | |
| Total assets | $14.1B | $14.2B | |
| Non-interest bearing | $2.7B | $2.7B | |
| Interest bearing | $10.0B | $10.1B | |
| Total deposits | $12.7B | $12.7B | |
| Securities sold under agreements to repurchase | $0 | $92.6M | |
| Employee benefit plans | $84.5M | $83.6M | |
| Accrued interest and other liabilities | $170.5M | $189.8M | |
| Total other liabilities | $255.0M | $365.9M | |
| Long-term debt | $0 | $98.7M | |
| Total liabilities | $13.0B | $13.2B | |
| Common share capital (BMD 0.01 par; authorized voting ordinary shares 2,000,000,000 and non-voting ordinary shares 6,000,000,000) issued and outstanding: 39,948,264 (2024: 43,537,979) | $399.0K | $435.0K | |
| Additional paid-in capital | $851.2M | $916.4M | |
| Retained earnings | $494.4M | $422.5M | |
| Less: treasury common shares, at cost: Nil (2024: 619,212) | $0 | -$23.1M | |
| Accumulated other comprehensive income (loss) | -$204.2M | -$295.4M | |
| Total shareholders equity | $1.1B | $1.0B | $1.0B |
| Total liabilities and shareholders equity | $14.1B | $14.2B | |
| Available-for-sale debt securities pledged that secured parties are permitted to sell or repledge | $0 | $93.5M | |
| Available-for-sale, amortized cost | $2.8B | $2.4B | |
| Held-to-maturity, fair value | $2.6B | $2.7B | |
| Common shares, par value (in BMD per share) | $0.01 | $0.01 | |
| Common shares, issued (in shares) | 39.9M shares | 43.5M shares | |
| Common shares, outstanding (in shares) | 39.9M shares | 43.5M shares | |
| Treasury common shares, at cost (in shares) | 0 shares | 619.2K shares |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Every line of the cash flow in the latest annual report, as filed.2
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Net income | $231.9M | $216.3M | $225.5M |
| Depreciation, accretion and amortization | $36.8M | $42.2M | $36.2M |
| Provision for credit losses (recoveries) | $217.0K | $1.7M | $4.5M |
| Share-based payments and settlements | $22.2M | $21.0M | $20.8M |
| Net change in equity securities at fair value | $0 | $0 | $236.0K |
| Net realized (gains) losses on available-for-sale investments | $0 | $0 | $14.0K |
| Net (gains) losses on other real estate owned | $0 | -$50.0K | $40.0K |
| (Increase) decrease in carrying value of equity method investments | -$221.0K | $334.0K | $165.0K |
| Dividends received from equity method investments | $60.0K | $135.0K | $5.3M |
| Net other non-cash movements | $0 | $0 | $1.1M |
| (Increase) decrease in accrued interest receivable and other assets | $15.3M | -$10.0M | $4.6M |
| Increase (decrease) in employee benefit plans, accrued interest payable and other liabilities | -$26.8M | -$6.1M | $1.9M |
| Cash provided by (used in) operating activities | $279.6M | $265.4M | $300.3M |
| (Increase) decrease in securities purchased under agreements to resell having original maturities of 3 months of less | $433.0M | -$545.1M | -$127.4M |
| (Increase) decrease in securities purchased under agreements to resell having original maturities of 3 months of less | -$1.3B | -$789.6M | $0 |
| Securities purchased under agreements to resell having original maturities of more than 3 months: proceeds from maturities | $1.1B | $293.7M | $0 |
| Short-term investments other than restricted cash: proceeds from maturities and sales | $1.4B | $2.2B | $2.0B |
| Short-term investments other than restricted cash: purchases | -$1.6B | -$1.8B | -$2.1B |
| Available-for-sale investments: proceeds from sale | $0 | $0 | $5.6M |
| Available-for-sale investments: proceeds from maturities and pay downs | $317.3M | $507.0M | $292.0M |
| Available-for-sale investments: purchases | -$669.6M | -$952.0M | -$71.9M |
| Held-to-maturity investments: proceeds from maturities and pay downs | $251.1M | $258.5M | $276.6M |
| Held-to-maturity investments: purchases | $0 | -$37.7M | $0 |
| Net (increase) decrease in loans | $227.0M | $237.0M | $457.3M |
| Additions to premises, equipment and computer software | -$24.8M | -$21.0M | -$26.9M |
| Proceeds from sale of other real estate owned | $0 | $588.0K | $646.0K |
| Purchase of intangible assets | $0 | -$481.0K | -$27.3M |
| Cash provided by (used in) investing activities | $102.4M | -$581.0M | $681.8M |
| Net increase (decrease) in deposits | -$331.2M | $873.1M | -$1.2B |
| Net increase (decrease) in securities sold under agreements to repurchase | -$90.0M | $97.3M | $0 |
| Repayment of long-term debt | -$100.0M | $0 | -$75.0M |
| Common shares repurchased | -$146.7M | -$155.3M | -$88.6M |
| Cash dividends paid on common shares | -$77.7M | -$79.6M | -$86.2M |
| Cash provided by (used in) financing activities | -$745.6M | $735.6M | -$1.4B |
| Net effect of exchange rates on cash, cash equivalents and restricted cash | $51.9M | -$3.7M | $21.5M |
| Net increase (decrease) in cash, cash equivalents and restricted cash | -$311.9M | $416.3M | -$444.3M |
| Cash interest paid | $203.2M | $235.5M | $162.4M |
| Cash state income taxes paid, including: | $4.0M | $2.2M | $1.9M |
| Transfer to (out of) other real estate owned | $0 | $87.0K | $336.0K |
| Initial recognition of right-of-use assets and operating lease liabilities | $5.1M | $2.1M | $3.3M |
Compare Bank of N.T. Butterfield & Son Ltd with another company
Recent filings
- Oct 5, 20264
- Oct 5, 20264
- Oct 5, 20264
- Oct 5, 20264
- Oct 5, 20264
- Oct 5, 20264
- Oct 5, 20264
- Sep 18, 20266-K 6-K NTB 2026 AGM RESULTS
- Aug 31, 20266-K 6-K BNTB PILLAR 3 DISCLOSURES JUNE 30, 2026
- Aug 27, 20264
- Aug 27, 20264
- Aug 27, 20264
- Aug 27, 20264
- Aug 27, 20264
- Aug 27, 20264
Every filing from the last three years, summarized. The full record is on SEC EDGAR.1
Sources
The numbers on this page point here. Each one links to the record it came from.
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