The Bank of N.T. Butterfield & Son Limited (NTB) Income Statement Analysis

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Complete financial analysis of The Bank of N.T. Butterfield & Son Limited (NTB) income statement, including revenue, profit margins, EPS and key performance metrics. Get detailed insights into the financial performance of The Bank of N.T. Butterfield & Son Limited, a leading company in the Banks – Diversified industry within the Financial Services sector.

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The Bank of N.T. Butterfield & Son Limited (NTB)

Industry: Banks - Diversified

Sector: Financial Services

Website: https://www.butterfieldgroup.com

About The Bank of N.T. Butterfield & Son Limited

The Bank of N.T. Butterfield & Son Limited provides a range of community, commercial, and private banking services to individuals and small to medium-sized businesses. It accepts retail and corporate checking, savings, term, and interest bearing and non-interest bearing deposits, as well as certificate of deposits. The company's lending portfolio includes residential mortgage lending, automobile lending, consumer financing, credit cards, overdraft facilities, commercial real estate lending, and commercial and industrial loans. It also offers investment products and services; and cash and liquidity management, foreign exchange, custody administration, and settlement services. In addition, the company provides personal and property/auto insurance products; letters of credit; and cash management, payroll, remote banking, money market, advisory, brokerage, trust, estate, company management, and fiduciary services. Further, it offers debit cards; automated teller machines; and personal and business deposit, merchant acquiring, and mobile and internet banking services. The company operates through offices in the Cayman Islands, Guernsey, Jersey, the United Kingdom, The Bahamas, Switzerland, Singapore, Mauritius, and Canada. It also operates through 3 branches in Bermuda and 4 branches in the Cayman Islands. The Bank of N.T. Butterfield & Son Limited was founded in 1858 and is headquartered in Hamilton, Bermuda.

Metric	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012
Revenue	583.22M	551.70M	496.50M	502.70M	532.50M	510.80M	448.80M	407.00M	374.11M	389.88M	341.70M	331.92M
Cost of Revenue	178.62M	0.00	0.00	0.00	0.00	0.00	8.00K	401.00K	338.00K	451.00K	0.00	0.00
Gross Profit	404.60M	551.70M	496.50M	502.70M	532.50M	510.80M	448.79M	406.60M	373.77M	389.43M	341.70M	331.92M
Gross Profit Ratio	69.37%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	99.90%	99.91%	99.88%	100.00%	100.00%
Research & Development	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
General & Administrative	181.64M	174.79M	233.46M	238.82M	246.29M	220.06M	207.23M	197.41M	191.99M	186.88M	69.24M	73.12M
Selling & Marketing	6.46M	6.36M	4.56M	4.44M	8.05M	6.12M	5.74M	4.51M	3.92M	3.80M	3.48M	3.96M
SG&A	296.79M	181.15M	238.02M	243.26M	254.34M	226.17M	212.97M	201.92M	195.91M	190.68M	228.09M	240.65M
Other Expenses	0.00	-555.32M	-1.40M	1.20M	2.80M	-900.00K	1.30M	1.00M	338.00K	451.00K	0.00	0.00
Operating Expenses	296.79M	-374.18M	236.62M	244.46M	257.14M	224.87M	214.27M	202.92M	196.24M	191.13M	262.65M	308.07M
Cost & Expenses	296.79M	-374.18M	236.62M	244.46M	257.14M	224.87M	214.27M	203.32M	196.58M	191.58M	262.65M	308.07M
Interest Income	545.63M	343.60M	299.80M	317.60M	345.70M	343.00M	289.70M	258.50M	262.58M	265.10M	0.00	0.00
Interest Expense	178.67M	54.80M	25.09M	34.41M	59.38M	24.60M	15.89M	16.45M	23.32M	26.61M	0.00	0.00
Depreciation & Amortization	36.21M	40.18M	69.46M	62.44M	48.39M	46.48M	50.40M	52.26M	50.07M	45.12M	-82.41M	-62.07M
EBITDA	262.47M	257.88M	235.25M	212.03M	224.09M	242.94M	0.00	0.00	133.95M	143.29M	-23.10M	-57.18M
EBITDA Ratio	45.00%	39.46%	47.38%	42.18%	42.08%	52.38%	43.27%	45.55%	40.74%	46.10%	-6.76%	-17.23%
Operating Income	281.80M	177.52M	165.80M	149.60M	175.70M	221.07M	153.30K	115.90K	102.33M	134.60M	82.41M	62.07M
Operating Income Ratio	48.32%	32.18%	33.39%	29.76%	33.00%	43.28%	0.03%	0.03%	27.35%	34.52%	24.12%	18.70%
Total Other Income/Expenses	-55.54M	-48.45M	-49.52M	-56.04M	-66.30M	-42.74M	-42.61M	-47.58M	-55.45M	-39.24M	-34.55M	-38.22M
Income Before Tax	226.26M	217.70M	165.80M	149.60M	175.70M	196.50M	154.30M	116.70M	79.02M	107.99M	79.05M	23.85M
Income Before Tax Ratio	38.79%	39.46%	33.39%	29.76%	33.00%	38.47%	34.38%	28.67%	21.12%	27.70%	23.13%	7.19%
Income Tax Expense	767.00K	3.70M	3.10M	2.40M	-1.40M	1.30M	1.10M	700.00K	1.28M	-169.00K	891.00K	5.89M
Net Income	225.49M	214.02M	162.67M	147.22M	177.10M	195.20M	153.30M	115.90M	77.74M	108.16M	58.41M	-1.01M
Net Income Ratio	38.66%	38.79%	32.76%	29.29%	33.26%	38.21%	34.16%	28.48%	20.78%	27.74%	17.10%	-0.30%
EPS	4.62	4.32	3.28	2.91	3.33	3.55	2.82	1.20	1.31	1.96	1.06	-0.04
EPS Diluted	4.58	4.29	3.26	2.90	3.30	3.50	2.76	1.18	1.29	1.93	1.06	-0.02
Weighted Avg Shares Out	48.81M	49.60M	49.53M	50.51M	53.17M	54.99M	54.36M	48.58M	46.59M	46.59M	54.94M	27.22M
Weighted Avg Shares Out (Dil)	49.28M	49.86M	49.88M	50.85M	53.66M	55.75M	55.45M	49.61M	47.37M	47.37M	55.36M	55.64M

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The Bank of N.T. Butterfield & Son Limited (NTB) Q1 2023 Earnings Call Transcript

April 25, 2023seekingalpha.com

The Bank of N.T. Butterfield & Son Limited (NTB) Q1 2023 Earnings Call Transcript.

Bank of NT Butterfield & Son (NTB) Surpasses Q1 Earnings and Revenue Estimates

April 24, 2023zacks.com

Bank of NT Butterfield & Son (NTB) came out with quarterly earnings of $1.24 per share, beating the Zacks Consensus Estimate of $1.16 per share. This compares to earnings of $0.90 per share a year ago.

Butterfield Reports First Quarter 2023 Results

April 24, 2023businesswire.com

HAMILTON, Bermuda--(BUSINESS WIRE)--The Bank of N.T. Butterfield & Son Limited ("Butterfield" or the "Bank") (BSX: NTB.BH; NYSE: NTB) today announced financial results for the quarter ended March 31, 2023. Net income for the first quarter of 2023 was $62.2 million,...

Butterfield Reports First Quarter 2023 Results

April 24, 2023businesswire.com

Butterfield to Announce First Quarter 2023 Financial Results on April 24, 2023 and Host Earnings Conference Call on April 25, 2023

April 12, 2023businesswire.com

HAMILTON, Bermuda--(BUSINESS WIRE)--The Bank of N.T. Butterfield & Son Limited (“Butterfield”) (NYSE: NTB | BSX: NTB.BH) will release first quarter 2023 financial results following the close of the New York Stock Exchange on Monday, April 24, 2023. Earnings conference call:...

Butterfield to Announce First Quarter 2023 Financial Results on April 24, 2023 and Host Earnings Conference Call on April 25, 2023

April 12, 2023businesswire.com

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