Mergers & Acquisitions ·
The Bank of N.T. Butterfield & Son Limited filed a proxy statement for its 2026 Annual General Meeting to seek…
NTBBank of N.T. Butterfield & Son Ltd
The Bank of N.T. Butterfield & Son Limited filed a proxy statement for its 2026 Annual General Meeting to seek shareholder approval for the issuance of approximately 11.58 million new shares as part of its $1.794 billion acquisition of CIBC Caribbean. The transaction, announced in May 2026, involves paying roughly 61% in cash and 39% in Butterfield stock, with completion expected in the first half of 2027 subject to regulatory approvals. The combined entity will hold approximately $29 billion in total assets across 19 jurisdictions. Additionally, the filing includes routine proposals for auditor appointment, director elections, and a general share issuance mandate. The company operates as a full-service bank and wealth manager headquartered in Bermuda.