Bank of NT Butterfield & Son Ltd · Q1 2026 earnings

Briefing

Butterfield earns $62.6M in Q1 as NIM expands to 2.75% and Guernsey trust deal closes

The Bank of N.T. Butterfield reported first-quarter 2026 results for the period ended March 31, 2026. Net income was $62.6 million, or $1.53 per diluted share, compared with $63.8 million in Q4 2025 and $53.8 million in Q1 2025. Core net income was $63.2 million, or $1.55 per share. Total net revenue before credit provisions was $155.9 million, supported by net interest income of $93.3 million and non-interest income of $62.6 million. Net interest margin improved to 2.75% from 2.69% in the prior quarter as deposit costs fell. Return on average common equity was 22.1% and core return on average tangible common equity was 24.1%. The bank declared a $0.50 quarterly dividend, repurchased 0.8 million shares for $42.4 million, and closed its Rawlinson & Hunter Guernsey acquisition on April 15, 2026.

• Q1 net income of $62.6 million ($1.53 per share) and core net income of $63.2 million ($1.55 per share) reflected solid banking and wealth demand.
• Net interest margin expanded 6 basis points to 2.75% as lower deposit costs offset softer loan and treasury yields.
• Total net revenue of $155.9 million included $93.3 million of net interest income and $62.6 million of non-interest income.
• Butterfield repurchased 0.8 million shares for $42.4 million and declared a $0.50 quarterly cash dividend payable May 27, 2026.
• The Rawlinson & Hunter Guernsey acquisition closed April 15, lifting total assets under administration to about $146 billion.

Headline financials

Revenue & EPS history