Core Viewpoint - Momentum investing focuses on following a stock's recent price trends, aiming to buy high and sell higher, with the expectation that established trends will continue [1] Company Overview: Bank of NT Butterfield & Son (NTB) - NTB currently holds a Momentum Style Score of A, indicating strong momentum potential [3] - The stock has a Zacks Rank of 1 (Strong Buy), which historically outperforms the market [4] Performance Metrics - NTB shares have increased by 3.52% over the past week, outperforming the Zacks Banks - Foreign industry, which rose by 0.65% [6] - Over the past month, NTB's price change is 9.72%, compared to the industry's 6.95% [6] - In the last quarter, NTB shares rose by 5.62%, and over the past year, they gained 30.33%, while the S&P 500 increased by 2.43% and 24.91%, respectively [7] Trading Volume - NTB's average 20-day trading volume is 174,991 shares, which serves as a bullish indicator when combined with rising stock prices [8] Earnings Outlook - In the past two months, one earnings estimate for NTB has increased, raising the consensus estimate from $3.90 to $4.40 [10] - For the next fiscal year, one estimate has also moved upwards, with no downward revisions noted [10] Conclusion - Given the strong performance metrics and positive earnings outlook, NTB is positioned as a 1 (Strong Buy) stock with a Momentum Score of A, making it a compelling near-term investment option [12]

Fourth Quarter and Year-End 2024 The Bank of N.T. Butterfield & Son Limited Earnings Presentation February 11, 2025 Forward-Looking Statements Forward-Looking Statements: Certain of the statements made in this release are forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements with respect to our beliefs, plans, objectives, goals, expectations, anticipations, assumptions estimates, intentions, and future perfor ...

Financial Data and Key Metrics Changes - The company reported a net income of $216.3 million and core net income of $218.9 million for the full year 2024, resulting in a core return on average tangible common equity of 24% [9] - The net interest margin decreased to 2.64% from 2.80% in 2023, with the cost of deposits rising to 183 basis points from 140 basis points in 2023 [10] - Tangible book value per common share grew by 12.5% to end the year at $21.70 [11] Business Line Data and Key Metrics Changes - In Q4 2024, net income and core net income were $59.6 million, with core earnings per share of $1.34 and a core return on average tangible common equity of 25.2%, an increase of 270 basis points over Q3 [14] - Non-interest income totaled $63.2 million for Q4, up 12.9% compared to the prior quarter, driven by seasonal increases in card services and transaction volumes [19][20] - Total core non-interest expenses were $89.6 million, a 2.2% increase compared to the prior quarter, primarily due to increased marketing expenditures [21] Market Data and Key Metrics Changes - Bermuda and Cayman experienced improved visitor numbers, contributing to economic development, with expectations for continued growth in 2025 and beyond [12] - The international financial services business, particularly in reinsurance and asset management, continued to grow in 2024 [12] Company Strategy and Development Direction - The company aims to pursue sustainable growth in a stable rate environment while focusing on organic growth opportunities in the Channel Islands and Singapore [30] - Active capital management remains a priority, with a focus on returning excess capital to shareholders and pursuing acquisitions of fee businesses [29] Management Comments on Operating Environment and Future Outlook - Management expressed satisfaction with the company's performance in 2024, highlighting a secure and conservatively managed balance sheet [29] - The company expects to manage expenses carefully while investing in technology and operational efficiency [30] Other Important Information - The Board approved a quarterly cash dividend of $0.44 and repurchased approximately 1.3 million shares at an average price of $37.42 during the quarter [16] - The company continues to maintain strong asset quality with low credit risk in its investment portfolio [25] Q&A Session Summary Question: Deposit trends and expectations - Management noted that deposit levels have remained elevated, with expectations to settle around $11.5 billion to $12 billion [40][41] Question: Margin trajectory and net interest income - Management expects a slow expansion of net interest margin over the next couple of quarters, driven by active management of deposit costs and investment yields [46][48] Question: Capital priorities and buyback strategy - Management emphasized the importance of retaining the current dividend rate while remaining open to M&A opportunities and managing buybacks based on share price [50][56] Question: Expense trajectory and non-interest income guidance - Management anticipates quarterly expenses to remain in the range of $90 million to $92 million, with non-interest income expected to stabilize around mid-$50 million per quarter [82][84] Question: Drivers of lower non-performing loans - Management highlighted the full repayment of a facility that had gone over 90 days and ongoing positive developments in the legacy hospitality facility liquidation process [88][91]

Core Viewpoint - Bank of NT Butterfield & Son reported strong quarterly earnings, exceeding expectations and showing growth compared to the previous year [1][2]. Financial Performance - The company reported earnings of $1.34 per share, surpassing the Zacks Consensus Estimate of $1.08 per share, and up from $1.15 per share a year ago, representing an earnings surprise of 24.07% [1]. - Revenues for the quarter ended December 2024 were $151.9 million, exceeding the Zacks Consensus Estimate by 8.42%, and up from $146.9 million year-over-year [2]. Market Performance - Bank of NT Butterfield & Son shares have increased approximately 3.9% since the beginning of the year, outperforming the S&P 500's gain of 2.5% [3]. Future Outlook - The company's earnings outlook will be crucial for future stock performance, with current consensus EPS estimates at $0.91 for the next quarter and $3.90 for the current fiscal year [7]. - The Zacks Rank for the stock is currently 3 (Hold), indicating expected performance in line with the market in the near future [6]. Industry Context - The Banks - Foreign industry, to which the company belongs, is currently ranked in the bottom 32% of over 250 Zacks industries, suggesting potential challenges ahead [8].

Financial Data and Key Metrics Changes - The bank reported net income of $52.7 million and core net income of $52.8 million for Q3 2024, with core earnings per share at $1.16 and a core return on average tangible common equity of 22.5% [5][6] - The net interest margin decreased by three basis points to 2.61%, while the cost of deposits rose by two basis points to 191 basis points [5][6] - The board approved a quarterly cash dividend of $0.44 per share and repurchased 1 million shares at an average price of $37 per share [5][6] Business Line Data and Key Metrics Changes - Net interest income before provision for credit losses was $88.1 million, benefiting from increased average interest-earning assets, despite elevated deposit costs [6][7] - Non-interest income totaled $56 million, a modest increase due to higher card volume, loan repayment fees, and asset management income [7][8] - Core non-interest expenses decreased by 1.8% to $88.6 million, primarily due to lower professional services costs [8] Market Data and Key Metrics Changes - Average interest-earning assets increased by $114 million, or 0.9%, to $13.4 billion, driven by higher average deposits [7] - Period-end deposit balances rose to $12.7 billion from $12.5 billion in the prior quarter, reflecting the diversified nature of the bank's markets [10] - The bank's loan asset quality remains adequate, with a net charge-off rate of three basis points and nonaccrual loans at 1.9% of gross loans [11] Company Strategy and Development Direction - The bank aims to grow through M&A and organic business development, focusing on enhancing efficiency and managing expenses as interest rates decline [13] - The bank's capital-efficient fee businesses are tailored to meet the needs of its island-based clientele, with a focus on maintaining a strong balance sheet and liquidity levels [13] - The bank is strategically positioned to profitably grow and support shareholder value while managing risks associated with its operations [13] Management's Comments on Operating Environment and Future Outlook - Management noted that the deposit balances have held up better than expected, with some deposits still considered at risk of leaving the bank [15][16] - The bank expects some credit migration but remains conservative in underwriting standards, with a focus on managing existing loans and collateral [19][20] - Management expressed confidence in the housing market across its jurisdictions, citing a shortage of supply and steady demand [21] Other Important Information - The bank's capital levels remain conservatively above regulatory requirements, with tangible book value per share increasing by 9.3% to $21.90 [12] - The bank continues to see good results from its trust business, particularly in Singapore, where it has become a top 5 trust company [25][36] Q&A Session Summary Question: Update on deposit dynamics and core deposit growth - Management acknowledged that while some deposits are at risk of leaving, they have seen success in core deposit growth, particularly in the Channel Islands [15][17] Question: Credit quality and housing market outlook - Management indicated that while there is some credit migration, they expect it to normalize, and the housing market remains strong across their jurisdictions [19][21] Question: Deposit cost and margin dynamics - Management noted a slowdown in the increase of deposit costs and expects overall deposit costs to continue on a downward trajectory [27][29] Question: Capital allocation and M&A environment - Management stated that dividends and share buybacks are prioritized, with ongoing discussions about potential acquisitions, but nothing immediate is on the horizon [31][32] Question: Future expense outlook - Management expects expenses to remain similar in Q4, with ongoing pressures from inflation and investments in technology [37][39]

| --- | --- | --- | |------------------------------------------------|-------|-------| | Third Quarter 2024 | | | | The Bank of N.T. Butterfield & Son | | | | Limited Earnings Presentation October 23, 2024 | | | Forward-Looking Statements Forward-Looking Statements: Certain of the statements made in this release are forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements with respect to our beliefs, plans, obje ...

Bank of NT Butterfield & Son (NTB) came out with quarterly earnings of $1.16 per share, beating the Zacks Consensus Estimate of $1.10 per share. This compares to earnings of $1.16 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 5.45%. A quarter ago, it was expected that this community bank would post earnings of $1.03 per share when it actually produced earnings of $1.11, delivering a surprise of 7.77%.Over the last four quart ...

The market expects Bank of NT Butterfield & Son (NTB) to deliver a year-over-year decline in earnings on higher revenues when it reports results for the quarter ended September 2024. This widely-known consensus outlook is important in assessing the company's earnings picture, but a powerful factor that might influence its near-term stock price is how the actual results compare to these estimates. The earnings report, which is expected to be released on October 22, 2024, might help the stock move higher if t ...

CAPITAL & RISK MANAGEMENT PILLAR 3 DISCLOSURES FOR THE SIX-MONTH PERIOD ENDED JUNE 30, 2024 THE BANK OF N.T. BUTTERFIELD & SON LIMITED BUTTERFIELD Capital and Risk Management Pillar 3 Disclosures for the six-month period ended June 30, 2024 Contents Page 1. Overview 3 1.1. Background 1.2. Basis of disclosures 1.3. Scope of applications 1.4. Location and verification 2. Risk Management Objectives and Policies 5 2.1. Risk governance 2.2. Risk management 3. Prudential Metrics 7 4. Capital Adequacy 9 4.1. Capit ...

The Bank of N.T. Butterfield & Son Limited (NYSE:NTB) Q2 2024 Results Earnings Conference Call July 23, 2024 10:00 AM ET Company Participants Noah Fields - Vice President of Investor Relations Michael Collins - Chairman and Chief Executive Officer Craig Bridgewater - Group Chief Financial Officer Michael Schrum - President and Group Chief Risk Officer Conference Call Participants David Feaster - Raymond James Tim Switzer - Keefe, Bruyette & Woods Operator Good morning. My name is Nick and I will be your con ...