N.T. Butterfield reports Q2 EPS $1.09, consensus $1.05

The return on average common equity for the second quarter of 2024 was 20.7% compared to 21.5% for the previous quarter and 25.9% for the second quarter of 2023. The core return on average tangible common equityfor the second quarter of 2024 was 23.3%, compared to 24.5% for the previous quarter and 26.3% for the second quarter of 2023. The efficiency ratio for the second quarter of 2024 was 62.4%, compared to 60.9% for the previous quarter and 57.6% for the second quarter of 2023. The core efficiency ratio for the second quarter of 2024 was 61.8% compared with 59.8% in the previous quarter and 57.6% for the second quarter of 2023.