The Bank of N.T. Butterfield & Son Limited (NTB) 10-Year Financial Performance & Capital Metrics

NTB • • Banking & Credit

Financial ServicesDiversified BanksDigital & Niche Specialized BanksCross-Border & Wealth Specialists

AboutThe Bank of N.T. Butterfield & Son Limited provides a range of community, commercial, and private banking services to individuals and small to medium-sized businesses. It accepts retail and corporate checking, savings, term, and interest bearing and non-interest bearing deposits, as well as certificate of deposits. The company's lending portfolio includes residential mortgage lending, automobile lending, consumer financing, credit cards, overdraft facilities, commercial real estate lending, and commercial and industrial loans. It also offers investment products and services; and cash and liquidity management, foreign exchange, custody administration, and settlement services. In addition, the company provides personal and property/auto insurance products; letters of credit; and cash management, payroll, remote banking, money market, advisory, brokerage, trust, estate, company management, and fiduciary services. Further, it offers debit cards; automated teller machines; and personal and business deposit, merchant acquiring, and mobile and internet banking services. The company operates through offices in the Cayman Islands, Guernsey, Jersey, the United Kingdom, The Bahamas, Switzerland, Singapore, Mauritius, and Canada. It also operates through 3 branches in Bermuda and 4 branches in the Cayman Islands. The Bank of N.T. Butterfield & Son Limited was founded in 1858 and is headquartered in Hamilton, Bermuda.Show more

Net Interest Income $351M -4.3%
Total Revenue $816M +7.2%
Net Income $216M -4.1%
Return on Equity 21.37% -11.5%
Net Interest Margin 2.47% -10.1%
Efficiency Ratio 44.03% -4.8%
ROA 1.57% -3.8%
Equity / Assets 7.17% -4.4%
Book Value per Share 22.65 +11.2%
Tangible BV/Share 20.66 +12.6%
Debt/Equity 0.22 +126.5%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Excellent 3Y average ROE of 22.9%
✓Efficient operations: 44.0% efficiency ratio
✓Healthy dividend yield of 3.5%
✓Share count reduced 8.6% through buybacks
✓Trading near 52-week high

✗Weaknesses

No significant weaknesses identified

Price & Volume

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Growth Metrics

Revenue CAGR

10Y7.67%

5Y8.94%

3Y16.11%

TTM-

Profit (Net Income) CAGR

10Y7.18%

5Y4.08%

3Y9.96%

TTM6.34%

EPS CAGR

10Y9.33%

5Y7.37%

3Y13.05%

TTM15.97%

ROCE

10Y Avg2.08%

5Y Avg2.99%

3Y Avg3.61%

Latest6.94%

Peer Comparison

Cross-Border & Wealth Specialists

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
UBSUBS Group AG	148.29B	47.47	31.23	21.2%	6.26%	8.13%	0.86%	4.13
EWBCEast West Bancorp, Inc.	15.93B	115.77	13.90	13.56%	26.01%	14.7%	8.86%	0.49
NTBThe Bank of N.T. Butterfield & Son Limited	2.07B	50.27	10.67	7.17%	26.49%	20.52%	11.78%	0.22

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Net Interest Income+	239.27M	258.48M	289.74M	342.99M	345.7M	317.6M	299.81M	343.58M	366.96M	351.2M
NII Growth %	0%	0.08%	0.12%	0.18%	0.01%	-0.08%	-0.06%	0.15%	0.07%	-0.04%
Net Interest Margin %	-	-	-	-	-	-	-	-	-	-
Interest Income	262.58M	258.5M	289.7M	343M	345.7M	317.6M	299.8M	343.6M	545.63M	585.72M
Interest Expense	23.32M	16.45M	15.88M	24.6M	59.38M	34.41M	0	0	178.67M	234.51M
Loan Loss Provision	-22.98M	-16.05M	-15.88M	-24.6M	-59.38M	-34.41M	21.96M	57.2M	4.45M	1.66M
Non-Interest Income+	111.52M	148.5M	159.1M	167.8M	186.43M	184.47M	221.75M	262.82M	216.26M	230.78M
Non-Interest Income %	-	-	-	-	-	-	-	-	-	-
Total Revenue+	374.11M	407M	448.8M	510.8M	532.13M	502.07M	521.55M	606.42M	761.89M	816.5M
Revenue Growth %	-0.04%	0.09%	0.1%	0.14%	0.04%	-0.06%	0.04%	0.16%	0.26%	0.07%
Non-Interest Expense	196.24M	202.92M	214.27M	224.87M	532.13M	502.07M	333.8M	331.52M	352.51M	359.47M
Efficiency Ratio	-	-	-	-	-	-	-	-	-	-
Operating Income+	102.33M	115.9K	153.3K	221.07M	0	0	165.79M	217.7M	226.26M	220.8M
Operating Margin %	-	-	-	-	-	-	-	-	-	-
Operating Income Growth %	-0.24%	-1%	0.32%	1441.05%	-1%	-	-	0.31%	0.04%	-0.02%
Pretax Income+	79.02M	116.7M	154.3M	196.5M	175.7M	149.59M	165.79M	217.7M	226.26M	220.8M
Pretax Margin %	-	-	-	-	-	-	-	-	-	-
Income Tax+	1.28M	700K	1.1M	1.3M	-1.37M	2.38M	3.12M	3.68M	767K	4.53M
Effective Tax Rate %	-	-	-	-	-	-	-	-	-	-
Net Income+	77.74M	115.9M	153.3M	195.2M	177.07M	147.22M	162.67M	214.02M	225.49M	216.3M
Net Margin %	-	-	-	-	-	-	-	-	-	-
Net Income Growth %	-0.28%	0.49%	0.32%	0.27%	-0.09%	-0.17%	0.1%	0.32%	0.05%	-0.04%
Net Income (Continuing)	77.74M	115.94M	153.25M	195.18M	177.07M	147.22M	162.67M	214.02M	225.49M	216.3M
EPS (Diluted)+	1.29	1.18	2.76	3.50	3.30	2.90	3.26	4.29	4.58	4.71
EPS Growth %	-0.33%	-0.09%	1.34%	0.27%	-0.06%	-0.12%	0.12%	0.32%	0.07%	0.03%
EPS (Basic)	1.31	1.20	2.82	3.55	3.33	2.91	3.28	4.32	4.62	4.80
Diluted Shares Outstanding	47.37M	49.61M	55.45M	55.74M	53.66M	50.85M	49.88M	49.86M	49.28M	45.06M

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash & Short Term Investments+	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Cash & Due from Banks	2.29B	2.1B	1.53B	2.05B	2.55B	3.29B	2.18B	2.1B	1.65B	2B
Short Term Investments	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Total Investments+	6.26B	8.79B	5.21B	4.36B	6.87B	6.51B	8.63B	7.5B	1.66B	10.39B
Investments Growth %	0.04%	0.4%	-0.41%	-0.16%	0.58%	-0.05%	0.33%	-0.13%	-0.78%	5.25%
Long-Term Investments	3.65B	4.92B	4.96B	4.31B	5.65B	5.69B	7.44B	6.61B	1.02B	7.72B
Accounts Receivables	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	0	0
Goodwill & Intangibles+	-	-	-	-	-	-	-	-	-	-
Goodwill	23.46M	19.62M	21.53M	23.99M	24.84M	25.63M	25.36M	22.89M	24.11M	23.62M
Intangible Assets	27.67M	42.29M	39.07M	50.75M	71.67M	67.19M	60.75M	51.48M	74.8M	65.99M
PP&E (Net)	183.38M	168M	165M	158M	158M	151M	139M	146M	154.36M	189.13M
Other Assets	7.65B	11.32M	12.6M	15.16M	-5.91B	-5.93B	-7.66B	-6.83B	9.2B	1.57B
Total Current Assets	6.39B	5.94B	5.58B	6.22B	3.79B	4.28B	3.54B	3.2B	2.29B	4.67B
Total Non-Current Assets	3.88B	5.16B	5.2B	4.56B	5.91B	5.93B	7.66B	6.83B	10.48B	9.56B
Total Assets+	10.28B	11.1B	10.78B	10.77B	13.92B	14.74B	15.34B	14.31B	13.37B	14.23B
Asset Growth %	0.04%	0.08%	-0.03%	-0%	0.29%	0.06%	0.04%	-0.07%	-0.07%	0.06%
Return on Assets (ROA)	0.01%	0.01%	0.01%	0.02%	0.01%	0.01%	0.01%	0.01%	0.02%	0.02%
Accounts Payable	2.74M	2.14M	2.38M	5.07M	262.36M	203.86M	189.38M	185.86M	0	0
Total Debt+	117M	117M	117M	143M	144M	171M	172M	172M	98.49M	226.89M
Net Debt	-2.17B	-1.99B	-1.42B	-1.91B	-2.41B	-3.12B	-2.01B	-1.93B	-1.55B	-1.9B
Long-Term Debt	117M	117M	117M	143.32M	143.5M	171.46M	171.88M	172M	98.49M	98.72M
Short-Term Debt	0	0	0	0	0	0	0	0	0	97.81M
Other Liabilities	0	0	0	0	500K	13.59B	14.19B	-172M	4.01B	273.39M
Total Current Liabilities	2.74M	10.01B	9.52B	5.07M	8.36M	335M	316M	278M	8.4B	12.84B
Total Non-Current Liabilities	117M	117M	117M	143.32M	144M	171M	172M	278M	4.11B	372.11M
Total Liabilities	9.53B	10.39B	9.96B	9.89B	12.96B	13.76B	14.36B	13.44B	12.37B	13.21B
Total Equity+	750.35M	711M	823M	882M	964M	982M	977M	865M	1B	1.02B
Equity Growth %	-0.12%	-0.05%	0.16%	0.07%	0.09%	0.02%	-0.01%	-0.11%	0.16%	0.02%
Equity / Assets (Capital Ratio)	-	-	-	-	-	-	-	-	-	-
Return on Equity (ROE)	0.1%	0.16%	0.2%	0.23%	0.19%	0.15%	0.17%	0.23%	0.24%	0.21%
Book Value per Share	15.84	14.33	14.84	15.82	17.97	19.31	19.59	17.35	20.37	22.65
Tangible BV per Share	-	-	-	-	-	-	-	-	-	-
Common Stock	473K	711M	823M	882M	964M	982M	977M	865M	475K	435K
Additional Paid-in Capital	1.23B	1.14B	1.16B	1.17B	1.08B	1.01B	1.02B	1.03B	988.9M	916.39M
Retained Earnings	-368.62M	-287.68M	-204.16M	-92.68M	-9.24M	33.92M	104.33M	229.73M	342.52M	422.46M
Accumulated OCI	-90.5M	-144.68M	-129.05M	-148.53M	-87.1M	-49.68M	-124.92M	-377.45M	-310.2M	-295.42M
Treasury Stock	-16.35M	-42K	0	-48.44M	-22.02M	-16.12M	-20.06M	-20.6M	-18.1M	-23.06M
Preferred Stock	2K	0	0	0	0	0	0	0	0	0

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	155.54M	178.19M	193.36M	296.35M	249.65M	188.15M	251.35M	219.27M	300.29M	265.43M
Operating CF Growth %	0.08%	0.15%	0.09%	0.53%	-0.16%	-0.25%	0.34%	-0.13%	0.37%	-0.12%
Net Income	77.74M	115.94M	153.25M	195.18M	177.07M	147.22M	162.67M	214.02M	225.49M	216.32M
Depreciation & Amortization	50.07M	52.26M	23.98M	46.48M	48.39M	62.44M	69.46M	40.18M	36.21M	42.16M
Deferred Taxes	14.05M	1.64M	-31.52M	-8.65M	-1.63M	8.92M	4.53M	0	0	0
Other Non-Cash Items	-420K	1.33M	2.42M	322K	5K	104K	53K	2.08M	11.25M	2.08M
Working Capital Changes	6.18M	-7.4M	36.82M	50.43M	8.09M	-45.77M	-505K	-54.09M	6.52M	-16.13M
Cash from Investing+	-325.85M	-1.2B	81.36M	338.55M	1.09B	-41.71M	-1.91B	292.02M	681.8M	-581.02M
Purchase of Investments	-1.1B	-2.37B	-795.18M	-1.15B	-2.64B	-3.66B	-5.75B	-3.02B	0	-2.75B
Sale/Maturity of Investments	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	0	1000K
Net Investment Activity	-	-	-	-	-	-	-	-	-	-
Acquisitions	-36.88M	-21.78M	-426K	-20.72M	2.82B	0	1.93M	0	584.05M	0
Other Investing	11.24M	178.88M	-36.27M	-164.62M	-476.46M	-29.2M	4.43M	-52.04M	124.68M	-804.44M
Cash from Financing+	426.88M	939.59M	-686.28M	-125.15M	-919.43M	546.45M	535.78M	-506.81M	-1.45B	735.56M
Dividends Paid	-39.48M	-33.98M	-69.73M	-83.7M	-93.64M	-88.93M	-87.28M	-87.34M	-86.19M	-79.58M
Share Repurchases	-130.82M	0	0	-48.44M	-81.53M	-86.64M	-19.75M	-3.9M	-88.59M	-155.31M
Stock Issued	0	138.52M	13K	0	0	0	0	0	0	0
Net Stock Activity	-	-	-	-	-	-	-	-	-	-
Debt Issuance (Net)	0	0	0	1000K	0	1000K	0	0	-1000K	1000K
Other Financing	597.39M	1.06B	-616.56M	3.32M	-744.26M	694.37M	642.82M	-415.57M	-1.2B	873.12M
Net Change in Cash+	225.58M	-187.24M	-601.78M	512.39M	508.78M	735.6M	-1.11B	-86.95M	-444.29M	416.28M
Exchange Rate Effect	-1000K	-1000K	1000K	1000K	1000K	1000K	1000K	-1000K	1000K	-1000K
Cash at Beginning	2.06B	2.29B	1.21B	1.56B	2.07B	2.58B	3.31B	2.2B	2.12B	1.67B
Cash at End	2.29B	2.1B	604.99M	2.07B	2.58B	3.31B	2.2B	2.12B	1.67B	2.09B
Interest Paid	10.91M	16.16M	15.97M	27.37M	56.27M	39.13M	24.46M	48.64M	162.39M	235.51M
Income Taxes Paid	596K	391K	696K	544K	2.63M	5.05M	463K	4.82M	1.93M	2.23M
Free Cash Flow+	154.06M	168.39M	178.58M	276.51M	226.87M	167.58M	235.63M	192.4M	246.02M	243.9M
FCF Growth %	0.12%	0.09%	0.06%	0.55%	-0.18%	-0.26%	0.41%	-0.18%	0.28%	-0.01%

Banking Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	9.72%	15.86%	19.99%	22.9%	19.18%	15.13%	16.61%	23.24%	24.13%	21.37%
Return on Assets (ROA)	0.77%	1.08%	1.4%	1.81%	1.43%	1.03%	1.08%	1.44%	1.63%	1.57%
Net Interest Margin	2.33%	2.33%	2.69%	3.18%	2.48%	2.15%	1.96%	2.4%	2.74%	2.47%
Efficiency Ratio	52.46%	49.86%	47.74%	44.02%	100%	100%	64%	54.67%	46.27%	44.03%
Equity / Assets	7.3%	6.4%	7.64%	8.19%	6.92%	6.66%	6.37%	6.05%	7.5%	7.17%
Book Value / Share	15.84	14.33	14.84	15.82	17.97	19.31	19.59	17.35	20.37	22.65
NII Growth	0.33%	8.03%	12.1%	18.38%	0.79%	-8.13%	-5.6%	14.6%	6.8%	-4.29%
Dividend Payout	31.96%	16.69%	45.49%	42.88%	52.88%	60.41%	53.66%	40.81%	38.22%	36.79%

Revenue by Segment

	2016	2017	2018	2019	2020	2021	2022	2023	2024
Bermuda	454.63M	534.7M	598.9M	542.04M	474.04M	466.56M	248.57M	269.87M	261.95M
Bermuda Growth	-	17.61%	12.01%	-9.49%	-12.55%	-1.58%	-46.72%	8.57%	-2.93%
Cayman	246.53M	266.2M	304.92M	337.19M	290.76M	301.15M	182.02M	200.64M	189.49M
Cayman Growth	-	7.98%	14.55%	10.58%	-13.77%	3.57%	-39.56%	10.23%	-5.56%
Channel Islands And United Kingdom	-	-	119.16M	165.8M	205.04M	212.78M	105.61M	91.84M	108.28M
Channel Islands And United Kingdom Growth	-	-	-	39.14%	23.67%	3.77%	-50.37%	-13.03%	17.90%
Other Operating	-	-	-	-	-	-	-	-	42.6M
Other Operating Growth	-	-	-	-	-	-	-	-	-
Others	-	-	30.35M	44.32M	28.78M	55.1M	29.45M	35.88M	-
Others Growth	-	-	-	46.01%	-35.06%	91.46%	-46.56%	21.85%	-
Guernsey	75.72M	91.67M	-	-	-	-	-	-	-
Guernsey Growth	-	21.06%	-	-	-	-	-	-	-
United Kingdom	15.46M	8.37M	-	-	-	-	-	-	-
United Kingdom Growth	-	-45.84%	-	-	-	-	-	-	-
The Bahamas	9.48M	8.14M	-	-	-	-	-	-	-
The Bahamas Growth	-	-14.13%	-	-	-	-	-	-	-
Switzerland	7.68M	7.66M	-	-	-	-	-	-	-
Switzerland Growth	-	-0.23%	-	-	-	-	-	-	-

Frequently Asked Questions

Valuation & Price

The Bank of N.T. Butterfield & Son Limited (NTB) has a price-to-earnings (P/E) ratio of 10.7x. This may indicate the stock is undervalued or faces growth challenges.

Growth & Financials

The Bank of N.T. Butterfield & Son Limited (NTB) grew revenue by 7.2% over the past year. This is steady growth.

Yes, The Bank of N.T. Butterfield & Son Limited (NTB) is profitable, generating $219.4M in net income for fiscal year 2024 (26.5% net margin).

Dividend & Returns

Yes, The Bank of N.T. Butterfield & Son Limited (NTB) pays a dividend with a yield of 3.51%. This makes it attractive for income-focused investors.

The Bank of N.T. Butterfield & Son Limited (NTB) has a return on equity (ROE) of 21.4%. This is excellent, indicating efficient use of shareholder capital.

Industry Metrics

The Bank of N.T. Butterfield & Son Limited (NTB) has a net interest margin (NIM) of 2.5%. NIM has been under pressure due to interest rate environment.

The Bank of N.T. Butterfield & Son Limited (NTB) has an efficiency ratio of 44.0%. This is excellent, indicating strong cost control.

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