Butterfield reports lower quarterly net income as core earnings edge up
Butterfield posted Q2 2026 net income of $46.9 million, or $1.16 per share, down from $62.6 million, or $1.53, in Q1 2026.
Core net income (non-GAAP) rose to $63.9 million, or $1.58 per share, from $63.2 million, or $1.55, in Q1 2026.
Return on average common equity slid to 16.6% from 22.1%, while the efficiency ratio widened to 67.6% from 56.8%.
Net interest income increased to $95.6 million from $93.3 million, while net interest margin edged down 1 basis point to 2.74%.
Butterfield closed the R&H Guernsey acquisition, agreed to buy CIBC Caribbean with an expected first-half 2027 close, and declared a $0.50 quarterly dividend.
NTB•
