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.

The Bank of N.T. Butterfield & Son Limited filed historical financial statements for CIBC Caribbean Bank Limited in connection with its previously announced acquisition of CIBC's interest in the bank. The audited carve-out results show net income of $213 million for the year ended October 31, 2025, compared to $276 million in 2024, driven by a significant increase in credit loss expense from $2.7 million to $47.7 million. Total assets reached $13.8 billion as of October 31, 2025. The unaudited condensed financial statements for the six months ended April 30, 2026, are also included. Butterfield operates in the banking and financial services industry.

The Bank of N.T. Butterfield & Son Limited reported second quarter 2026 net income of $46.9 million, or $1.16 per diluted share, down from $62.6 million in the prior quarter. Core net income reached $63.9 million, or $1.58 per diluted share, supported by higher net interest income and trust fees from the R&H Guernsey acquisition. The bank closed the R&H Guernsey acquisition and entered an agreement to acquire CIBC Caribbean, which is expected to close in the first half of 2027. Net interest margin was 2.74% and the core efficiency ratio was 57.0%. The company repurchased 0.3 million shares for $16.1 million during the period. The company is a full-service bank and wealth manager.