BANK OF N.T. BUTTERFIELD & SON LTD (NTB) Reports In-Line Q2 EPS, Beats on Revenues

BANK OF N.T. BUTTERFIELD & SON LTD (NYSE: NTB) reported Q2 EPS of $0.67, in-line with the analyst estimate of $0.67. Revenue for the quarter came in at $111.6 million versus the consensus estimate of $109.48 million.

• Q2 2017 net income of $36.1 million, or $0.65 per share, supporting a dividend of $0.32 per share.
• Q2 2017 core net income1 of $37.5 million, or $0.67 per share.
• Net interest margin expansion to 2.66%, an 8 bps increase over Q1 2017, due to mortgage repricing and increased portfolio yields.
• Core return on average tangible common equity1 of 21.6%.
• Successfully hosted 35th America’s Cup in Bermuda with more than 800 clients attending Bank functions.
• Michael Collins, current Chief Executive Officer, appointed Chairman and Chief Executive Officer.
• David Zwiener to serve as Lead Independent Director.

For earnings history and earnings-related data on BANK OF N.T. BUTTERFIELD & SON LTD (NTB) click here.

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