- The Bank of Butterfield closed the year with a 13% yearly decline in its interest income and a 42% decrease in its interest expense.
- Net income still suffered a 17% decrease over the year as cost reductions were offset by other expenses, while quarterly figures were seen to be improving with a 37% increase.
- The company’s ROA and ROE experienced a slight reduction but is expected to recover once earnings from the recent acquisition are realized and economic conditions improve.
- Increasing dividend payouts are consistently given, and its growth potential keeps investors confident as P/E doubles over the previous quarter.
- Strategic expansion on the high quality offshore market remains as the main driver of growth, along with its continued operational improvements.
For further details see:
Bank Of N.T. Butterfield & Son: An Expansionary Force Amidst The Pandemic