Recent Developments
Butterfield reported strong third quarter results, demonstrating the resilience of its business model. The Bank delivered higher noninterest earnings and improved efficiency, while demonstrating disciplined execution and focus on sustainable growth. Butterfield’s net interest income and margin improved as a result of lower deposit costs and a conservative asset mix. Together, these outcomes underscore the effectiveness of the Bank’s strategy and commitment to driving long-term value for clients and shareholders.
The Bank reported net income of $61.1 million and core net income* of $63.3 million for the third quarter. The Bank reported a return on common equity of 22.5% and a core return on average tangible common equity* of 25.5% for the third quarter of 2025 with earnings and core earnings per diluted share* of $1.46 and $1.51, respectively.
The net interest margin was 2.73% in the third quarter, an increase of 9 basis points from the previous quarter primarily due to lower cost of deposits as central banks cut market rates and the repayment of subordinated debt in the prior quarter.
The Board declared a quarterly cash dividend rate of $0.50 per common share to be paid on November 25, 2025 to shareholders of record on November 11, 2025. During the third quarter of 2025, Butterfield repurchased 0.7 million common shares under the Bank’s share repurchase program.
Capital Ratios
COMMON EQUITY TIER 1
31 Dec 2024 23.5%
TOTAL CAPITAL RATIO
31 Dec 2024 25.8%
Credit Ratings
Short-Term K1
Long-Term Senior A+
Short-Term P2
Long-Term Senior A3
Short-Term A2
Long-Term Senior BBB+