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Butterfield Reports Q2 2010 Financial Results
Hamilton, Bermuda—5 August 2010: The Bank of N.T. Butterfield & Son Limited (“Butterfield” or the “Bank”) today announced second quarter net income of $0.2 million compared with a net loss of $176.3 million for the first quarter 2010 and a net income of $10.3 million in the second quarter of 2009. On a normalised basis, net income was $2.2 million for Q2 2010 compared to normalised income of $4.1 million for Q1 2010 and $1.8 million for Q2 2009.After adjusting for preference share dividends, the net loss available to common shareholders was $4.3 million resulting in a fully diluted loss of $0.01 per share compared to a diluted loss of $0.75 in Q1 2010.
Butterfield Reports Q1 2010 Financial Results
Butterfield Strengthens Capital Position