The Bank of N.T. Butterfield & Son Limited (the Bank) provides banking services and wealth management services. The Bank's geographic segments include Bermuda, the Cayman Islands and Guernsey, where its banking operations are located, and The Bahamas, Switzerland, and the United Kingdom, where it offers specialized financial services. It offers banking services, including retail and corporate banking, and wealth management, which consists of trust, private banking, and asset management. In Bermuda and Cayman Islands segments, it offers both banking and wealth management. In Guernsey, Bahamas, and Switzerland segments, it offers wealth management. In the United Kingdom segment, it offers residential property lending. The Bank provides foreign exchange services in the normal course of business in all jurisdictions. Its wealth management platform has three lines of business: trust, private banking, and asset management.
Lending Activities
The Bank offers a set of lending offerings, including residential mortgage lending, automobile lending, credit cards consumer financing, and overdraft facilities to its retail customers, and commercial real estate lending, commercial and industrial loans, and overdraft facilities to its commercial and corporate customers. These offerings are provided to its retail, commercial, and private banking clients in its jurisdictions, including Bermuda and the Cayman Islands. It also offers residential mortgage lending through its private banking business in Guernsey and to its high net worth and ultra-high net worth clients in the United Kingdom. The residential mortgage portfolio comprises mortgages to clients seeking to establish (or already have) a financial services relationship. It includes mortgages to individuals and corporate loans secured by way of first ranking charges over the residential property to which each specific loan relates generally on terms, which allow for the repossession and sale of the property if the borrower fails to comply with the terms of the loan. It provides loans in respect of automobile financing, consumer financing, credit cards and overdraft facilities to retail and private banking clients in the jurisdictions in which the Bank operates. Commercial real estate loans are offered to real estate investors, developers and builders domiciled primarily in Bermuda and the United Kingdom. Its commercial real estate loan portfolio is broken down into two categories: commercial mortgage and construction. The commercial and industrial loan portfolio includes loans and overdraft facilities advanced primarily to corporations and small and medium-sized entities, which are generally not collateralized by real estate and where loan repayments are expected to flow from the operation of the underlying businesses. As of December 31, 2016, the Bank had $3.6 billion of net loans.
Investment Activities
The Bank's investment portfolio includes securities issued or guaranteed by the United States Government or federal agencies. It also includes corporate debt securities, asset-backed securities-student loans, commercial mortgage-backed securities and residential mortgage-backed securities. As of December 31, 2016, its total securities available for sale amounted to $3.3 billion.
Sources of Funds
The Bank's deposits are generated principally by banking business line, which offers retail and corporate checking, savings, and term deposits through its segments in Bermuda, the Cayman Islands and Guernsey. In addition, wealth management, through its private banking business line, also provides deposit services to high net worth and ultra-high net worth clients in those same geographic segments. As of December 31, 2016, the Bank had total deposits of $10 billion.
Subsidiary Activities
The Bank's subsidiaries include Butterfield Asset Management Limited, Butterfield Trust (Bermuda) Limited, Bermuda Trust Company Limited, Bermuda Securities (Bermuda) Limited, Butterfield Bank (Cayman) Limited, Butterfield Trust (Cayman) Limited, Butterfield Trust (Bahamas) Limited, Butterfield Holdings (Switzerland) Limited, Butterfield Trust (Switzerland) Limited and Butterfield Mortgages Limited. Butterfield Asset Management Limited provides asset management services. Butterfield Trust (Bermuda) Limited and Bermuda Trust Company Limited provide corporate trustee, fiduciary and corporate administration services. Bermuda Securities (Bermuda) Limited provides investment advisory and listing sponsor services. Butterfield Bank (Cayman) Limited provides banking services. Butterfield Trust (Cayman) Limited provides trustee, fiduciary and corporate administration services. Butterfield Trust (Bahamas) Limited provides trust and fiduciary services. Butterfield Holdings (Switzerland) Limited provides investment services. Butterfield Trust (Switzerland) Limited provides trust and fiduciary services. Butterfield Mortgages Limited provides residential property lending services.
65 Front Street
The company trades on NYSE exchange. The company headquarter is located in Bermuda. The company was established in the 1858.| Ticker | NTB |
| Long Name | Bank of N.T. Butterfield and Son Limited |
| Short Name | Bank of NT Butterfield |