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Bank of N.T. Butterfield Son expects business expansion through CIBC Caribbean acquisition

The Motley Fool +1 ·

  1. 1Bank of N.T. Butterfield Son is expected to double its business scale through the acquisition of CIBC Caribbean.
  2. 2Non-interest fee income accounted for 40% of Bank of N.T. Butterfield Son's net income in the second quarter.
  3. 3Bank of N.T. Butterfield Son recently suspended its share buyback program to fund the CIBC Caribbean acquisition.

So what's the key point?

Bank of N.T. Butterfield Son is planning to double its size by purchasing another bank. The company has temporarily paused its share buyback program to prepare for this acquisition.

Source The Motley Fool +1 · View original ↗

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