Bank of N.T. Butterfield & Son ( (NTB) ) has released its Q1 earnings. Here is a breakdown of the information Bank of N.T. Butterfield & Son presented to its investors.
The Bank of N.T. Butterfield & Son Limited, a full-service bank and wealth manager headquartered in Hamilton, Bermuda, offers a range of banking and wealth management services across several jurisdictions, including Bermuda, the Cayman Islands, and the United Kingdom. The bank is publicly traded on both the New York and Bermuda Stock Exchanges.
In its first-quarter 2025 earnings report, Butterfield reported a net income of $53.8 million, or $1.23 per diluted share, reflecting a slight decrease from the previous quarter. The bank’s core net income stood at $56.7 million, or $1.30 per diluted share. The return on average common equity was 20.9%, while the net interest margin improved to 2.70%.
Key highlights from the financial performance include a net interest income of $89.3 million, driven by a favorable deposit mix and higher investment yields. However, non-interest income decreased due to lower card volumes and banking fees, partially offset by increased foreign exchange volume and asset management fees. Non-interest expenses rose to $93.2 million, influenced by costs associated with a voluntary early retirement program.
Despite the quarterly decline in net income, Butterfield maintained a strong capital position with a total regulatory capital ratio of 27.7%, well above regulatory requirements. The bank continued its shareholder-friendly policies with a declared dividend of $0.44 per share and repurchased 1.1 million shares during the quarter.
Looking ahead, Butterfield’s management remains committed to long-term value creation for shareholders, focusing on balance sheet resilience and effective capital management amid varying economic and interest rate environments.