The Bank of N.T. Butterfield & Son Limited (NTB) Income Statement
NTB 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsNTB revenue and net income
Where NTB's revenue goes
2025Each bar shows an amount and its share of revenue. NTB kept 29.0% of revenue as net income.
NTB profit margins
NTB growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | −2.0% | +9.7% | +9.8% | +7.9% |
| Gross profit | +4.5% | +3.4% | +3.9% | +5.0% |
| Operating income | +7.8% | +3.0% | +9.7% | +8.8% |
| Net income | +7.2% | +2.7% | +9.5% | +11.5% |
| EPS (diluted) | +17.4% | +9.0% | +13.0% | +16.7% |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
NTB quarterly EPS vs estimates
Bank of N.T. Butterfield & Son beat the analyst EPS estimate in 8 of the last 8 quarters. Next report: October 27, 2026 (estimate $1.55).
NTB income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $799.8M | $816.5M | $761.9M | $606.4M | $521.5M | $502.1M | $532.1M | $510.8M | $448.8M | $407.0M |
| Cost of revenue | $193.2M | $236.2M | $183.1M | $57.2M | $22.0M | $0 | $0 | −$202,000 | $8,000 | $401,000 |
| Gross profit | $606.7M | $580.3M | $578.8M | $549.2M | $499.6M | $502.1M | $532.1M | $510.8M | $448.8M | $406.6M |
| Sales, general & admin | $192.3M | $183.8M | $188.1M | $176.7M | $169.8M | $181.8M | $195.1M | $226.2M | $213.0M | $201.9M |
| Total operating expenses | $368.8M | $359.5M | $352.5M | $331.5M | $333.8M | $502.1M | $532.1M | $224.9M | $214.3M | $202.9M |
| Operating income | $238.0M | $220.8M | $226.3M | $217.7M | $165.8M | $149.6M | $175.7M | $221.1M | $153,300 | $115,900 |
| Interest income | $557.1M | $585.7M | $545.6M | $343.6M | $299.8M | $317.6M | $405.1M | $367.6M | $305.6M | $274.9M |
| Interest expense | $193.0M | $234.5M | $178.7M | $54.8M | $25.1M | $34.4M | $59.4M | $24.6M | $15.9M | $16.4M |
| Income before taxes | $238.0M | $220.8M | $226.3M | $217.7M | $165.8M | $149.6M | $175.7M | $196.5M | $154.3M | $116.7M |
| Income taxes | $6.0M | $4.5M | $767,000 | $3.7M | $3.1M | $2.4M | −$1.4M | $1.3M | $1.1M | $700,000 |
| Net income | $231.9M | $216.3M | $225.5M | $214.0M | $162.7M | $147.2M | $177.1M | $195.2M | $153.3M | $115.9M |
| EBITDA | $274.8M | $263.0M | $262.5M | $257.9M | $235.2M | $212.0M | $224.1M | $242.9M | $194.2M | $185.4M |
| EPS (diluted) | $5.61 | $4.78 | $4.65 | $4.33 | $3.27 | $3.04 | $3.69 | $3.52 | $2.86 | $2.24 |
| Gross margin | 75.9% | 71.1% | 76.0% | 90.6% | 95.8% | 100.0% | 100.0% | 100.0% | 100.0% | 99.9% |
| Operating margin | 29.8% | 27.0% | 29.7% | 35.9% | 31.8% | 29.8% | 33.0% | 43.3% | 0.0% | 0.0% |
| Net margin | 29.0% | 26.5% | 29.6% | 35.3% | 31.2% | 29.3% | 33.3% | 38.2% | 34.2% | 28.5% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $159.9M | $155.9M | $203.0M | $200.5M | $198.0M | $198.5M | $209.2M | $206.0M | $203.3M | $198.0M | $144.9M | $142.2M |
| Cost of revenue | $1.6M | $1.4M | $44.0M | $47.2M | $51.7M | $50.3M | $57.1M | $63.2M | $60.6M | $55.2M | $0 | $0 |
| Gross profit | $158.3M | $154.5M | $159.1M | $153.3M | $146.3M | $148.2M | $152.1M | $142.7M | $142.7M | $142.8M | $144.9M | $142.2M |
| Sales, general & admin | $49.2M | $46.8M | $49.9M | $48.0M | $47.1M | $47.3M | $49.2M | $45.0M | $45.4M | $44.1M | $25.9M | $51.5M |
| Total operating expenses | $109.8M | $90.5M | $92.9M | $90.8M | $91.8M | $93.2M | $91.0M | $88.8M | $91.1M | $88.5M | $72.9M | $142.2M |
| Operating income | $48.5M | $64.0M | $66.0M | $62.5M | $54.5M | $54.9M | $61.1M | $54.0M | $51.5M | $54.3M | $72.0M | $49.1M |
| Interest income | $136.6M | $132.7M | $136.8M | $139.4M | $140.9M | $140.0M | $145.4M | $150.0M | $147.6M | $142.7M | $139.6M | $137.7M |
| Interest expense | $41.0M | $39.4M | $44.2M | $46.7M | $51.5M | $50.7M | $56.8M | $61.9M | $60.1M | $55.6M | $52.6M | $47.5M |
| Income before taxes | $48.5M | $64.0M | $66.0M | $62.5M | $54.5M | $54.9M | $61.1M | $54.0M | $51.5M | $54.3M | $52.7M | $49.1M |
| Income taxes | $1.6M | $1.4M | $2.2M | $1.4M | $1.2M | $1.2M | $1.5M | $1.2M | $931,000 | $854,000 | −$799,000 | $381,000 |
| Net income | $46.9M | $62.6M | $63.8M | $61.1M | $53.3M | $53.8M | $59.6M | $52.7M | $50.6M | $53.4M | $53.5M | $48.7M |
| EBITDA | $56.2M | $77.5M | $73.4M | $71.7M | $62.2M | $67.5M | $69.3M | $67.9M | $77.4M | $48.4M | $9.4M | $58.2M |
| EPS (diluted) | $1.58 | $1.55 | $1.54 | $1.51 | $1.26 | $1.30 | $1.34 | $1.16 | $1.11 | $1.17 | $1.11 | $1.16 |
| Gross margin | 99.0% | 99.1% | 78.3% | 76.4% | 73.9% | 74.7% | 72.7% | 69.3% | 70.2% | 72.1% | 100.0% | 100.0% |
| Operating margin | 30.3% | 41.1% | 32.5% | 31.2% | 27.5% | 27.7% | 29.2% | 26.2% | 25.3% | 27.4% | 49.7% | 34.6% |
| Net margin | 29.3% | 40.2% | 31.4% | 30.5% | 26.9% | 27.1% | 28.5% | 25.6% | 24.9% | 27.0% | 37.0% | 34.3% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in NTB's financial statements (latest annual report filed February 18, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
NTB financial results
In fiscal year 2025 (ended December 31, 2025), Bank of N.T. Butterfield & Son reported revenue of $799.8 million, down 2.0% from the year before. It had net income of $231.9 million (up 7.2%), a net profit margin of 29.0%. Diluted earnings per share came to $5.61. Over five years revenue grew at an average rate of 9.8% a year.
See the NTB stock overview for the latest quote and news, or the NTB chart for price history and technical indicators.
NTB income statement FAQ
What is Bank of N.T. Butterfield & Son's annual revenue?
Bank of N.T. Butterfield & Son reported total revenue of $799.8 million for fiscal year 2025, which ended on December 31, 2025. That was down 2.0% from $816.5 million the previous year.
Is Bank of N.T. Butterfield & Son profitable?
Yes. Bank of N.T. Butterfield & Son reported net income of $231.9 million in fiscal 2025, a net profit margin of 29.0%; its operating margin was 29.8%.
What is Bank of N.T. Butterfield & Son's gross margin?
Bank of N.T. Butterfield & Son's gross margin was 75.9% in fiscal 2025: for every $100 of revenue, Bank of N.T. Butterfield & Son kept $76 after the direct cost of its products and services.
How fast is Bank of N.T. Butterfield & Son growing?
Revenue grew 9.8% a year on average over the last five fiscal years, from $502.1 million to $799.8 million.
What are Bank of N.T. Butterfield & Son's earnings per share?
Bank of N.T. Butterfield & Son earned $5.61 per diluted share in fiscal 2025, compared with $4.78 a year earlier.
When will Bank of N.T. Butterfield & Son report its next earnings?
Bank of N.T. Butterfield & Son is expected to report results for the quarter ending September 30, 2026 on October 27, 2026 after the market closes.
When does Bank of N.T. Butterfield & Son's fiscal year end?
Bank of N.T. Butterfield & Son's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on February 18, 2026.