The Bank of N.T. Butterfield & Son Limited (NTB) Balance Sheet
NTB balance sheet, 2025
December 31, 2025 · U.S. dollars$14.10B assets = $12.95B liabilities + $1.14B equity
Both columns are drawn to the same scale: what NTB owns equals what it owes plus shareholders’ equity. Hover a block for its value.
NTB financial health
Descriptive bands, not a rating. Fiscal 2025.
NTB balance sheet trends, 2016–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $11.10B2016 | $14.10B2025 | +2.7%/yr | |
| Total liabilities | $10.39B2016 | $12.95B2025 | +2.5%/yr | |
| Shareholders’ equity | $711.0M2016 | $1.14B2025 | +5.4%/yr | |
| Cash & short-term investments | $5.95B2016 | $2.70B2025 | −8.4%/yr | |
| Total debt | $245.3M2016 | $38.7M2025 | −18.5%/yr | |
| Net cash (debt) | $5.71B2016 | $2.66B2025 | −$3.0B | |
| Working capital | −$4.07B2016 | $2.71B2025 | +$6.8B | |
| Book value per share | $14.332016 | $26.922025 | +7.3%/yr | |
| Debt / equity | 0.352016 | 0.032025 | −0.31 | |
| Shares outstanding | 49.6M2016 | 42.4M2025 | −1.7%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
NTB assets
NTB liabilities and equity
NTB debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
NTB balance sheet
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Cash & short-term investments | $2.70B | $4.67B | $4.49B | $2.98B | $3.38B | $4.11B | $3.77B | $4.29B | $5.10B | $5.95B |
| Cash & equivalents | $1.61B | $2.00B | $1.65B | $2.10B | $2.18B | $3.29B | $2.55B | $2.05B | $1.53B | $2.10B |
| Short-term investments | $1.10B | $2.67B | $2.84B | $884.0M | $1.20B | $823.0M | $1.22B | $52.0M | $250.0M | $520.0M |
| Receivables | $11.1M | $0 | $0 | $217.0M | $158.0M | $162.0M | $23.6M | $20.9M | $24.9M | $22.8M |
| Inventory | $0 | $0 | $0 | −$3.06B | −$3.48B | −$4.33B | −$3.95B | $5.3M | $9.1M | $14.2M |
| Other current assets | $0 | $0 | $0 | $3.06B | $3.48B | $4.33B | $3.95B | $1.90B | $446.9M | $0 |
| Total current assets | $2.71B | $4.67B | $4.49B | $3.20B | $3.54B | $4.28B | $3.79B | $6.22B | $5.58B | $5.94B |
| Property, plant & equipment (net) | $159.0M | $153.8M | $154.4M | $146.0M | $139.0M | $151.0M | $158.0M | $158.0M | $165.0M | $168.0M |
| Goodwill & intangible assets | $86.8M | $89.6M | $98.9M | $74.4M | $86.1M | $92.8M | $96.5M | $74.7M | $60.6M | $61.9M |
| Long-term investments | $6.38B | $5.92B | $6.31B | $6.61B | $7.44B | $5.69B | $5.67B | $4.32B | $4.97B | $4.93B |
| Other non-current assets | $4.75B | $3.41B | $2.32B | $4.27B | $4.14B | $4.53B | $4.21B | $0 | $0 | $228,000 |
| Total assets | $14.10B | $14.23B | $13.37B | $14.31B | $15.34B | $14.74B | $13.92B | $10.77B | $10.78B | $11.10B |
| Liabilities | ||||||||||
| Accounts payable | — | — | — | $278.0M | $316.0M | $335.0M | $8.4M | $5.1M | $2.4M | $2.1M |
| Short-term debt | $5.2M | $92.6M | $7.2M | $82.1M | $83.1M | $83.3M | $12.40B | $9.41B | $47.0M | $128.3M |
| Deferred revenue | — | — | — | $195.9M | $232.9M | $251.7M | $12.41B | $9.42B | $9.52B | $10.01B |
| Total current liabilities | $5.2M | $12.84B | $11.99B | $278.0M | $316.0M | $335.0M | $8.4M | $5.1M | $9.52B | $10.01B |
| Long-term debt | $0 | $98.7M | $98.5M | $172.3M | $171.9M | $171.5M | $143.5M | $143.3M | $117.0M | $117.0M |
| Other long-term liabilities | $12.95B | $273.4M | $285.2M | $105.7M | $124,000 | $0 | $500,000 | $0 | $0 | $0 |
| Total liabilities | $12.95B | $13.21B | $12.37B | $13.44B | $14.36B | $13.76B | $12.96B | $9.89B | $9.96B | $10.39B |
| Shareholders' equity | ||||||||||
| Common stock & paid-in capital | $399,000 | $435,000 | $475,000 | $865.0M | $977.0M | $982.0M | $964.0M | $882.0M | $823.0M | $711.0M |
| Retained earnings (deficit) | $494.4M | $422.5M | $342.5M | $229.7M | $104.3M | $33.9M | −$9.2M | −$92.7M | −$204.2M | −$287.7M |
| Treasury stock | — | — | — | — | −$20.1M | −$16.1M | −$22.0M | −$48.4M | — | −$42,000 |
| Accumulated other comprehensive income | −$204.2M | −$295.4M | −$310.2M | −$377.5M | −$124.9M | −$49.7M | −$87.1M | −$148.5M | −$129.1M | −$144.7M |
| Total shareholders' equity | $1.14B | $1.02B | $1.00B | $865.0M | $977.0M | $982.0M | $964.0M | $882.0M | $823.0M | $711.0M |
| Key figures | ||||||||||
| Total debt | $38.7M | $191.3M | $98.5M | $254.4M | $254.9M | $254.8M | $12.54B | $9.56B | $164.0M | $245.3M |
| Net cash (debt) | $2.66B | $4.48B | $4.39B | $2.73B | $3.12B | $3.86B | −$8.78B | −$5.27B | $4.94B | $5.71B |
| Working capital | $2.71B | −$8.17B | −$7.50B | $2.92B | $3.22B | $3.94B | $3.78B | $6.21B | −$3.94B | −$4.07B |
| Tangible book value | $1.06B | $931.2M | $904.7M | $790.6M | $890.9M | $889.2M | $867.5M | $807.3M | $762.4M | $649.1M |
| Book value per share | $26.92 | $22.65 | $20.37 | $17.35 | $19.59 | $19.31 | $17.97 | $15.82 | $14.84 | $14.33 |
| Shares outstanding | 42.4M | 45.1M | 49.3M | 49.9M | 49.9M | 50.9M | 53.7M | 55.7M | 55.5M | 49.6M |
| Current ratio | 516.92 | 0.36 | 0.37 | 11.52 | 11.19 | 12.76 | 453.37 | 1,225.95 | 0.59 | 0.59 |
| Quick ratio | 516.92 | 0.36 | 0.37 | 11.52 | 11.19 | 12.76 | 453.37 | 849.73 | 0.54 | 0.60 |
| Debt / equity | 0.03 | 0.19 | 0.10 | 0.29 | 0.26 | 0.26 | 13.01 | 10.84 | 0.20 | 0.35 |
| Equity / assets | 8.1% | 7.2% | 7.5% | 6.0% | 6.4% | 6.7% | 6.9% | 8.2% | 7.6% | 6.4% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||||
| Cash & short-term investments | $7.97B | $5.53B | $5.09B | $4.87B | $4.80B | $4.09B | $4.67B | $4.80B | $4.83B | $4.83B | −$1.65B | $1.61B |
| Cash & equivalents | $1.44B | $1.94B | $1.71B | $1.50B | $1.45B | $2.10B | $2.00B | $2.07B | $2.39B | $1.75B | $1.65B | $1.61B |
| Short-term investments | $6.53B | $3.59B | $3.39B | $3.36B | $3.35B | $2.00B | $2.67B | $2.73B | $2.44B | $3.08B | $2.84B | $2.54B |
| Receivables | $10.1M | $0 | $11.1M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $21.7M |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | −$2.67B |
| Other current assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $3.83B | $0 | $0 | $4.54B | $2.67B |
| Total current assets | $7.97B | $5.53B | $5.09B | $4.87B | $4.80B | $4.09B | $4.67B | $8.63B | $4.83B | $4.83B | $2.90B | $1.63B |
| Property, plant & equipment (net) | $161.0M | $161.5M | $158.5M | $158.5M | $159.2M | $156.4M | $153.8M | $185.6M | $149.6M | $150.3M | $187.8M | $153.9M |
| Goodwill & intangible assets | $118.6M | $83.9M | $86.8M | $88.8M | $92.2M | $89.7M | $89.6M | $96.7M | $94.4M | $96.3M | $98.9M | $70.6M |
| Long-term investments | $6.48B | $6.53B | $6.38B | $6.43B | $6.48B | $6.13B | $5.92B | $6.04B | $5.78B | $6.49B | $6.31B | $6.06B |
| Other non-current assets | $0 | $2.12B | $2.37B | $2.55B | $2.65B | $3.55B | $3.41B | $0 | $3.08B | $1.96B | $3.88B | $5.26B |
| Total assets | $14.35B | $14.42B | $14.09B | $14.09B | $14.19B | $14.02B | $14.23B | $14.37B | $13.94B | $13.53B | $13.37B | $13.18B |
| Liabilities | ||||||||||||
| Accounts payable | — | — | — | — | — | — | — | — | — | — | — | $204.0M |
| Short-term debt | $5.2M | $132.3M | $5.2M | — | — | — | $92.6M | $99.0M | — | — | $7.2M | — |
| Total current liabilities | $5.2M | $13.01B | $12.70B | $12.72B | $12.84B | $12.61B | $12.84B | $10.32B | $12.55B | $12.13B | $8.26B | $204.0M |
| Long-term debt | $0 | $0 | $0 | $0 | $0 | $98.8M | $98.7M | $98.7M | $98.6M | $98.5M | $98.5M | $98.4M |
| Other long-term liabilities | $13.20B | $274.4M | $255.0M | $259.4M | $278.0M | $255.6M | $273.4M | $2.76B | $293.2M | $303.6M | $4.01B | $12.13B |
| Total liabilities | $13.20B | $13.29B | $12.95B | $12.98B | $13.12B | $12.96B | $13.21B | $13.31B | $12.94B | $12.53B | $12.37B | $12.26B |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $393,000 | $396,000 | $399,000 | $412,000 | $417,000 | $428,000 | $435,000 | $448,000 | $458,000 | $468,000 | $475,000 | $488,000 |
| Retained earnings (deficit) | $529.4M | $512.2M | $494.4M | $480.6M | $454.5M | $439.6M | $422.5M | $402.4M | $383.5M | $364.9M | $342.5M | $320.8M |
| Accumulated other comprehensive income | −$220.0M | −$215.3M | −$204.2M | −$220.6M | −$241.5M | −$257.4M | −$295.4M | −$254.0M | −$317.5M | −$321.3M | −$310.2M | −$386.1M |
| Total shareholders' equity | $1.15B | $1.14B | $1.14B | $1.11B | $1.07B | $1.06B | $1.02B | $1.06B | $999.1M | $995.1M | $1.00B | $922.9M |
| Key figures | ||||||||||||
| Total debt | $39.1M | $132.3M | $38.7M | $38.8M | $38.2M | $98.8M | $191.3M | $98.7M | $98.6M | $98.5M | $131.5M | $98.4M |
| Net cash (debt) | $7.93B | $5.40B | $5.06B | $4.83B | $4.76B | $4.00B | $4.48B | $4.70B | $4.73B | $4.73B | −$1.78B | $1.51B |
| Working capital | $7.97B | −$7.48B | −$7.60B | −$7.86B | −$8.04B | −$8.51B | −$8.17B | −$1.69B | −$7.72B | −$7.30B | −$5.36B | $1.43B |
| Tangible book value | $1.03B | $1.05B | $1.06B | $1.02B | $977.0M | $968.1M | $931.2M | $967.5M | $904.7M | $898.8M | $904.7M | $852.3M |
| Book value per share | $28.41 | $27.79 | $27.55 | $25.93 | $25.07 | $24.27 | $23.46 | $23.36 | $21.58 | $21.10 | $20.87 | $18.78 |
| Shares outstanding | 40.4M | 40.9M | 41.4M | 42.7M | 42.7M | 43.6M | 43.5M | 45.6M | 46.3M | 47.2M | 48.1M | 49.1M |
| Current ratio | 1,518.86 | 0.42 | 0.40 | 0.38 | 0.37 | 0.32 | 0.36 | 0.84 | 0.39 | 0.40 | 0.35 | 7.99 |
| Quick ratio | 1,520.79 | 0.42 | 0.40 | 0.38 | 0.37 | 0.32 | 0.36 | 0.47 | 0.39 | 0.40 | −0.20 | 7.99 |
| Debt / equity | 0.03 | 0.12 | 0.03 | 0.04 | 0.04 | 0.09 | 0.19 | 0.09 | 0.10 | 0.10 | 0.13 | 0.11 |
| Equity / assets | 8.0% | 7.9% | 8.1% | 7.9% | 7.5% | 7.5% | 7.2% | 7.4% | 7.2% | 7.4% | 7.5% | 7.0% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed February 18, 2026); data from EODHD.
NTB financial position
At the end of fiscal 2025 (December 31, 2025), Bank of N.T. Butterfield & Son had total assets of $14.1 billion (down 1.0% from a year earlier), total liabilities of $13.0 billion and shareholders' equity of $1.1 billion. It held $2.7 billion in cash and short-term investments against $38.7 million of debt, a net cash position of $2.7 billion. Its current ratio was 516.92. In the latest quarter (ended June 30, 2026) total assets were $14.3 billion and equity $1.1 billion.
Related: NTB income statement, NTB cash flow statement, NTB key metrics. See the NTB stock overview for the latest quote and news.
NTB balance sheet FAQ
What are Bank of N.T. Butterfield & Son's total assets?
Bank of N.T. Butterfield & Son reported total assets of $14.1 billion at the end of fiscal 2025 (December 31, 2025), compared with $14.2 billion a year earlier.
How much debt does Bank of N.T. Butterfield & Son have?
Bank of N.T. Butterfield & Son had $38.7 million of total debt at the end of fiscal 2025, including short-term borrowings. Its debt-to-equity ratio was 0.03.
How much cash does Bank of N.T. Butterfield & Son have?
Bank of N.T. Butterfield & Son held $2.7 billion in cash and short-term investments at the end of fiscal 2025; with $38.7 million of debt that is net cash of $2.7 billion.
What is Bank of N.T. Butterfield & Son's book value?
Bank of N.T. Butterfield & Son's shareholders' equity (book value) was $1.1 billion at the end of fiscal 2025, or $26.92 per share.
What is Bank of N.T. Butterfield & Son's current ratio?
Bank of N.T. Butterfield & Son had current assets of $2.7 billion and current liabilities of $5.2 million, a current ratio of 516.92 (it can cover its short-term obligations).
How much goodwill does Bank of N.T. Butterfield & Son have?
Bank of N.T. Butterfield & Son carried $86.8 million of goodwill and intangible assets, 0.6% of total assets, at the end of fiscal 2025.