NTB, BMG0772R2087

Bank of N.T. Butterfield & Son stock: Q3 net income reaches $61 million

Published on 10/30/2026 at 01:48 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Bank of N.T. Butterfield & Son stock follows Q3 core EPS of $1.58. Management still expects the CIBC Caribbean deal to close in H1 2027.

Butterfield results and transaction progress

The bank reported solid quarterly profitability alongside stronger net interest and non-interest income.
Management said shareholder approval and regulatory work for the CIBC Caribbean transaction are progressing.
The quarterly cash dividend was maintained, with payment scheduled for November.

NTB, BMG0772R2087, Illustration mit AI erstellt.

Bank of N.T. Butterfield & Son announced its third-quarter results on October 27, reporting net income of $61.0 million and core net income of $64.2 million. The figures cover the quarter ended September 30 and were published after the New York Stock Exchange close. The Financial Times company announcement carried the results release.

Quarterly earnings show resilient profitability

Core net income, a non-GAAP measure, was $64.2 million, or $1.58 per diluted share, compared with $63.9 million in the previous quarter and $63.3 million a year earlier. Reported diluted earnings were $1.50 per share. The company said the quarter included $3.2 million of non-core, deal-related expenses, primarily connected with the planned CIBC Caribbean acquisition and integration-related costs.

Net interest income before credit-loss provisions rose to $97.2 million. The net interest margin was 2.76%, two basis points above the previous quarter and three basis points higher than in the year-earlier quarter. Non-interest income also increased, helped by higher banking service revenue, card volumes and a non-recurring contractual incentive.

CIBC Caribbean transaction remains in focus

Butterfield said shareholders strongly supported the issuance of shares linked to the acquisition at the company's September 18 annual meeting. Regulatory engagement and integration planning are progressing, and management continues to expect the transaction to close in the first half of 2027.

The proposed deal is important for the bank's longer-term scale and geographic reach, but the expected closing remains subject to regulatory and other conditions. Investors should therefore distinguish the reported quarterly performance from the future benefits described in the company's forward-looking statements.

The Board declared a quarterly cash dividend of $0.50 per common share, payable on November 25 to shareholders of record on November 10. The bank also said its share repurchase program remained paused following the acquisition announcement.