Andre Kostolany November 9, 2019 Idea Exchange

Bank of N.T. Butterfield: A great wealth franchise and interest rate derivative

Bank of N.T. Butterfield (NTB) Overview N.T. Butterfield (NTB) is a Bermuda-based bank whose shares trade on the New York stock exchange. Bermuda’s corporate taxfree status, together with a conservative culture helps Butterfield generate a superior return on equity with limited risk. That’s right, Butterfield doesn’t pay taxes! History After English explorer George Somers crashed into the island in 1609, N.T. Butterfield first opened its doors as a trading firm in 1758 and later received its banking license in 1858. For a long stretch of...

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