Company Overview of The Bank of NT Butterfield & Son Limited
The Bank of N.T. Butterfield & Son Limited provides retail, private, and corporate banking services. The company offers personal and business checking accounts, current accounts, savings accounts, and fixed term deposits; and loans comprising personal loans, mortgages, home equity loans, and overdraft protection, as well as commercial credit, such as mortgages, foreign exchange facilities, corporate loans, overdraft, and letters of credit. It also provides credit and debit cards; home and contents, motor car and motorcycle, yacht and pleasure craft, creditor life insurance, and credit card balance protection insurance products, as well as personal insurance products. In addition, the company...
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 Names John Maragliano as Executive Vice President & Chief Financial Officer
Dec 12 13
The Bank of NT Butterfield & Son Limited has named John Maragliano as Executive Vice President & Chief Financial Officer. Mr. Maragliano was previously Senior Vice President, Finance and was appointed Interim Chief Financial Officer in August 2013. Mr. Maragliano joined Butterfield in 2002 from PwC Bermuda to head the Treasury Middle Office function reporting directly to the Group CFO.
The Bank of NT Butterfield & Son Limited Declares Quarterly Dividend on 8% Non-Cumulative Preference Share, Payable on December 16, 2013; Declares Third Interim Common Dividend on Common and Contingent Value Convertible Preference Share, Payable on November 22, 2013; Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2013
Oct 30 13
The Bank of NT Butterfield & Son Limited declared quarterly dividend of $20 per share on the bank's 8% non-cumulative perpetual voting preference shares, to be paid on December 16, 2013 to preference shareholders of record on December 1, 2013.
The Board also declared a third interim common dividend of $0.01 per common and contingent value convertible preference share to be paid on November 22, 2013 to shareholders of record on November 8, 2013.
The company reported earnings results for the third quarter and nine months ended September 30, 2013. For the quarter, the company reported total net revenue of $87.1 million compared to $80.4 million a year ago. Total net income before taxes was $21.8 million compared to $11.5 million a year ago. Net income from continuing operations was $21.6 million compared to $11.5 million a year ago. Net earnings attributable to common shareholders was $17.3 million or $0.03 per basic and diluted share compared to $14.3 million or $0.09 per basic and diluted share a year ago. Core return on average assets was 1.07% compared to 0.53% a year ago. Core earnings were $24.5 million or $0.04 per share on a fully diluted basis, an improvement of $13.0 million over the $11.5 million earned in the same quarter a year ago. Net income for the quarter was $21.6 million, including non-core net items of $2.9 million, up $2.8 million compared to net income of $18.8 million in the third quarter of 2012. The core cash return on average tangible common equity improved to 14.34% in the third quarter of 2013 compared to 5.01% in the third quarter of 2012, reflecting measures taken to achieve strategic goals, particularly expense and capital management initiatives.
For the nine months, the company reported total net revenue of $260.4 million compared to $249.6 million a year ago. Total net income before taxes was $68.4 million compared to $42.7 million a year ago. Net income from continuing operations was $67.8 million compared to $42.2 million a year ago. Net earnings attributable to common shareholders was $52.2 million or $0.09 per diluted share compared to $36.3 million or $0.07 per basic and diluted share a year ago. Tangible book value per Share as on September 30, 2013 was $1.10. Core return on average assets was 0.89% compared to 0.59% a year ago. Core earnings of 60.0 million or $0.09 per share on a fully diluted basis, up 58% from $37.9 million for the nine-month period ended September 30, 2012, due primarily to improved non-interest expenses.
The Bank of NT Butterfield & Son Limited Announces Management Changes
Aug 5 13
The Bank of NT Butterfield & Son Limited Board advised that Bradley Rowse, Executive Vice President & Chief Financial Officer retired from the company effective at the close of business on 31 July 2013. John Maragliano, Senior Vice President, Finance, has been named Interim Chief Financial Officer, effective 1 August 2013. Mr. Maragliano’s joined Butterfield in 2002 as a Treasury Controller and became Head of Finance in 2005.
Similar Private Companies By Industry
Recent Private Companies Transactions
March 27, 2013