Hamilton, Bermuda─22 February 2016: The Bank of N.T. Butterfield & Son Limited (“Butterfield” or the “Bank”) today announced core earnings for 2015 of $113.9 million, an improvement of $7.5 million compared to $106.4 million earned in 2014. The core cash earnings per share increased $0.03 to $0.20 per share. The core cash return on average tangible common equity improved to 18.4% in 2015, compared to 15.1% in 2014. Reported net income for the year ended 31 December 2015 was $77.7 million ($0.12 per share on a fully diluted basis) compared to $108.2 million ($0.16 per share on a fully diluted basis) in 2014, down $30.5 million year over year.
Hamilton, Bermuda—15 February 2016: The Bank of N.T. Butterfield & Son Limited today announced that it has commenced an orderly wind down of the deposit taking and investment management businesses of its wholly owned London subsidiary, Butterfield Bank (UK) Limited (which operates in the United Kingdom under the trade name Butterfield Private Bank). The Butterfield Group will maintain a mortgage lending business in the UK, subject to regulatory approval.
Butterfield Private Bank 99 Gresham Street London EC2V 7NG
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