BANK OF N.T. BUTTERFIELD & SON LTD (NTB) Tops Q3 EPS by 3c

BANK OF N.T. BUTTERFIELD & SON LTD (NYSE: NTB) reported Q3 Core EPS of $0.73, $0.03 better than the analyst estimate of $0.70. Revenue for the quarter came in at $114.9 million versus the consensus estimate of $111.74 million.

“Butterfield delivered solid results this quarter as lending margins improved and expenses began to return to a more normal level,” said Michael Collins, Chairman and Chief Executive Officer. “Today, we are also pleased to announce an agreement to acquire the Global Trust Solutions business from Deutsche Bank. This acquisition will add scale and talent to our existing trust operations in Switzerland, Guernsey and Cayman and add a profitable and strategically important private trust platform in Singapore. We expect it to generate stable trust fee income for the Bank and be accretive once integrated.”

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

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