Bank of N.T. Butterfield & Son Ltd's income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (Dec 31, 2025 · FY), Bank of N.T. Butterfield & Son Ltd reported revenue of $606.8M (+4.6% year on year) and net income of $238.0M (+7.8% year on year).
| Line item | Dec 31, 2025 · FY | Dec 31, 2024 · FY | Dec 31, 2023 · FY | Dec 31, 2022 · FY |
|---|---|---|---|---|
| Asset management | $39.2M | $36.3M | $32.5M | $29.7M |
| Banking | $67.4M | $63.7M | $58.8M | $57.1M |
| Foreign exchange revenue | $52.5M | $51.2M | $46.1M | $47.8M |
| Trust | $65.8M | $61.3M | $57.8M | $52.3M |
| Custody and other administration services | $13.8M | $13.8M | $13.3M | $13.6M |
| Other non-interest income | $4.1M | $3.6M | $3.8M | $6.0M |
| Total non-interest income | $242.9M | $230.0M | $212.3M | $206.6M |
| Interest and fees on loans | $277.4M | $304.1M | $317.4M | $249.4M |
| Available-for-sale | $77.8M | $48.9M | $35.6M | $38.9M |
| Held-to-maturity | $70.7M | $75.6M | $80.5M | $76.9M |
| Cash and cash equivalents, securities purchased under agreements to resell and short-term investments | $131.2M | $157.1M | $112.1M | $33.2M |
| Total interest income | $557.1M | $585.7M | $545.6M | $398.4M |
| Deposits | $189.1M | $227.0M | $170.5M | $45.2M |
| Long-term debt | $3.7M | $5.5M | $8.1M | $9.6M |
| Securities sold under agreements to repurchase | $220.0K | $2.0M | $75.0K | $22.0K |
| Total interest expense | $193.0M | $234.5M | $178.7M | $54.8M |
| Net interest income before provision for credit losses | $364.1M | $351.2M | $367.0M | $343.6M |
| Provision for credit (losses) recoveries | ($217.0K) | ($1.7M) | ($4.5M) | ($2.4M) |
| Net interest income after provision for credit losses | $363.9M | $349.5M | $362.5M | $341.2M |
| Net gains (losses) on equity securities | $0 | $0 | $43.0K | $14.0K |
| Net realized gains (losses) on available-for-sale investments | $0 | $0 | ($14.0K) | ($19.0K) |
| Net gains (losses) on other real estate owned | $0 | $50.0K | ($40.0K) | $448.0K |
| Net other gains (losses) | $20.0K | $327.0K | $3.8M | $1.1M |
| Total other gains (losses) | $20.0K | $377.0K | $3.8M | $1.5M |
| Total net revenue | $606.8M | $579.9M | $578.6M | $549.3M |
| Salaries and other employee benefits | $182.6M | $174.0M | $177.9M | $166.2M |
| Technology and communications | $65.0M | $66.1M | $62.0M | $56.7M |
| Professional and outside services | $21.9M | $22.7M | $21.1M | $19.6M |
| Property | $34.1M | $34.1M | $31.4M | $31.4M |
| Indirect taxes | $23.3M | $22.7M | $21.5M | $22.0M |
| Non-service employee benefits expense | $5.5M | $3.9M | $5.6M | $3.8M |
| Marketing | $6.8M | $6.5M | $6.5M | $6.4M |
| Amortization of intangible assets | $8.0M | $8.0M | $5.7M | $5.7M |
| Other expenses | $21.5M | $21.1M | $20.8M | $19.8M |
| Total non-interest expense | $368.8M | $359.1M | $352.3M | $331.6M |
| Net income before income taxes | $238.0M | $220.8M | $226.3M | $217.7M |
| Income tax benefit (expense) | ($6.0M) | ($4.5M) | ($767.0K) | ($3.7M) |
| Net income | $231.9M | $216.3M | $225.5M | $214.0M |
| Basic earnings per share (in dollars per share) | $5.61 | $4.80 | $4.62 | $4.32 |
| Diluted earnings per share (in dollars per share) | $5.47 | $4.71 | $4.58 | $4.29 |
| Line item | Dec 31, 2025 · FY | Dec 31, 2024 · FY | Dec 31, 2023 · FY | Dec 31, 2022 · FY |
|---|---|---|---|---|
| Cash and demand deposits with banks - Non-interest bearing | $105.4M | $93.1M | $91.8M | $93.0M |
| Demand deposits with banks - Interest bearing | $171.2M | $165.7M | $151.1M | $258.2M |
| Cash equivalents - Interest bearing | $1.4B | $1.7B | $1.4B | $1.7B |
| Cash and cash equivalents | $1.7B | $2.0B | $1.6B | $2.1B |
| Securities purchased under agreements to resell | $1.1B | $1.2B | $187.3M | $59.9M |
| Short-term investments | $756.5M | $580.0M | $1.0B | $884.5M |
| Available-for-sale investments | $2.7B | $2.3B | $1.8B | $2.0B |
| Held-to-maturity | $3.0B | $3.2B | $3.5B | $3.7B |
| Total investment in securities | $5.7B | $5.5B | $5.3B | $5.7B |
| Loans | $4.4B | $4.5B | $4.8B | $5.1B |
| Allowance for credit losses | ($25.4M) | ($25.7M) | ($25.8M) | ($25.0M) |
| Loans, net of allowance for credit losses | $4.4B | $4.5B | $4.7B | $5.1B |
| Premises, equipment and computer software, net | $158.5M | $153.8M | $154.4M | $146.1M |
| Goodwill | $25.4M | $23.6M | $24.1M | $22.9M |
| Other intangible assets, net | $61.4M | $66.0M | $74.8M | $51.5M |
| Equity method investments | $6.8M | $6.6M | $7.1M | $12.5M |
| Accrued interest and other assets | $210.4M | $211.5M | $203.2M | $203.5M |
| Total assets | $14.1B | $14.2B | $13.4B | $14.3B |
| Non-interest bearing | $2.7B | $2.7B | $2.7B | $3.0B |
| Interest bearing | $10.0B | $10.1B | $9.3B | $10.0B |
| Total deposits | $12.7B | $12.7B | $12.0B | $13.0B |
| Securities sold under agreements to repurchase | $0 | $92.6M | — | — |
| Employee benefit plans | $84.5M | $83.6M | $88.7M | $92.0M |
| Accrued interest and other liabilities | $170.5M | $189.8M | $196.5M | $185.9M |
| Total other liabilities | $255.0M | $365.9M | $285.2M | $277.9M |
| Long-term debt | $0 | $98.7M | $98.5M | $172.3M |
| Total liabilities | $13.0B | $13.2B | $12.4B | $13.4B |
| Common share capital (BMD 0.01 par; authorized voting ordinary shares 2,000,000,000 and non-voting ordinary shares 6,000,000,000) issued and outstanding: 39,948,264 (2024: 43,537,979) | 399.0K | 435.0K | 475.0K | 503.0K |
| Additional paid-in capital | $851.2M | $916.4M | $988.9M | $1.0B |
| Retained earnings | $494.4M | $422.5M | $342.5M | $229.7M |
| Less: treasury common shares, at cost: Nil (2024: 619,212) | 0 | -23.1M | -18.1M | -20.6M |
| Accumulated other comprehensive income (loss) | ($204.2M) | ($295.4M) | ($310.2M) | ($377.5M) |
| Total shareholders’ equity | $1.1B | $1.0B | $1.0B | $864.8M |
| Total liabilities and shareholders’ equity | $14.1B | $14.2B | $13.4B | $14.3B |
| Line item | Dec 31, 2025 · FY | Dec 31, 2024 · FY | Dec 31, 2023 · FY | Dec 31, 2022 · FY |
|---|---|---|---|---|
| Net income | $231.9M | $216.3M | $225.5M | $214.0M |
| Depreciation, accretion and amortization | $36.8M | $42.2M | $36.2M | $40.2M |
| Provision for credit losses (recoveries) | $217.0K | $1.7M | $4.5M | $2.4M |
| Share-based payments and settlements | $22.2M | $21.0M | $20.8M | $17.1M |
| Net change in equity securities at fair value | $0 | $0 | $236.0K | ($14.0K) |
| Net realized (gains) losses on available-for-sale investments | $0 | $0 | $14.0K | $19.0K |
| Net (gains) losses on other real estate owned | $0 | ($50.0K) | $40.0K | ($448.0K) |
| (Increase) decrease in carrying value of equity method investments | ($221.0K) | $334.0K | $165.0K | ($39.0K) |
| Dividends received from equity method investments | $60.0K | $135.0K | $5.3M | $169.0K |
| Net other non-cash movements | $0 | $0 | $1.1M | — |
| (Increase) decrease in accrued interest receivable and other assets | $15.3M | ($10.0M) | $4.6M | ($54.0M) |
| Increase (decrease) in employee benefit plans, accrued interest payable and other liabilities | ($26.8M) | ($6.1M) | $1.9M | ($65.0K) |
| Cash provided by (used in) operating activities | $279.6M | $265.4M | $300.3M | $219.3M |
| (Increase) decrease in securities purchased under agreements to resell having original maturities of 3 months of less | $433.0M | — | — | — |
| (Increase) decrease in securities purchased under agreements to resell having original maturities of 3 months of less | ($1.3B) | — | — | — |
| Securities purchased under agreements to resell having original maturities of more than 3 months: proceeds from maturities | $1.1B | — | — | — |
| Short-term investments other than restricted cash: proceeds from maturities and sales | $1.4B | $2.2B | $2.0B | $2.7B |
| Short-term investments other than restricted cash: purchases | ($1.6B) | ($1.8B) | ($2.1B) | ($2.5B) |
| Available-for-sale investments: proceeds from sale | $0 | $0 | $5.6M | $7.6M |
| Available-for-sale investments: proceeds from maturities and pay downs | $317.3M | $507.0M | $292.0M | $230.7M |
| Available-for-sale investments: purchases | ($669.6M) | ($952.0M) | ($71.9M) | ($83.9M) |
| Held-to-maturity investments: proceeds from maturities and pay downs | $251.1M | $258.5M | $276.6M | $403.4M |
| Held-to-maturity investments: purchases | $0 | ($37.7M) | $0 | ($383.3M) |
| Net (increase) decrease in loans | $227.0M | $237.0M | $457.3M | ($90.2M) |
| Additions to premises, equipment and computer software | ($24.8M) | ($21.0M) | ($26.9M) | ($26.9M) |
| Proceeds from sale of other real estate owned | $0 | $588.0K | $646.0K | $1.9M |
| Purchase of intangible assets | $0 | ($481.0K) | ($27.3M) | — |
| Cash provided by (used in) investing activities | $102.4M | ($581.0M) | $681.8M | $292.0M |
| Net increase (decrease) in deposits | ($331.2M) | $873.1M | ($1.2B) | ($415.6M) |
| Net increase (decrease) in securities sold under agreements to repurchase | ($90.0M) | $97.3M | — | — |
| Repayment of long-term debt | ($100.0M) | $0 | ($75.0M) | $0 |
| Common shares repurchased | -146.7M | -155.3M | -88.6M | -3.9M |
| Cash dividends paid on common shares | -77.7M | -79.6M | -86.2M | -87.3M |
| Cash provided by (used in) financing activities | ($745.6M) | $735.6M | ($1.4B) | ($506.8M) |
| Net effect of exchange rates on cash, cash equivalents and restricted cash | $51.9M | ($3.7M) | $21.5M | ($91.4M) |
| Net increase (decrease) in cash, cash equivalents and restricted cash | ($311.9M) | $416.3M | ($444.3M) | ($87.0M) |
| Cash, cash equivalents and restricted cash: beginning of year | $2.1B | $1.7B | $2.1B | $2.2B |
| Cash, cash equivalents and restricted cash: end of year | $1.8B | $2.1B | $1.7B | $2.1B |
| Cash and cash equivalents | $1.7B | $2.0B | $1.6B | $2.1B |
| Restricted cash included in short-term investments on the consolidated balance sheets | $67.7M | $90.4M | $25.6M | $15.8M |
| Total cash, cash equivalents and restricted cash at end of year | $1.8B | $2.1B | $1.7B | $2.1B |
| Cash interest paid | $203.2M | $235.5M | $162.4M | $48.6M |
| Cash state income taxes paid, including: | $4.0M | $2.2M | $1.9M | $4.8M |
| Transfer to (out of) other real estate owned | $0 | $87.0K | $336.0K | $1.6M |
| Initial recognition of right-of-use assets and operating lease liabilities | $5.1M | $2.1M | $3.3M | $3.5M |
Bank of N.T. Butterfield & Son Ltd score and earnings-call analysis · All covered companies
Figures as reported in SEC filings. General information, not investment advice.