Earnings Presentation February 10, 2026
Agenda and Overview
Presenters
Agenda
Butterfield Overview
Michael CollinsChairman and Chief Executive Officer
Michael SchrumPresident and Group Chief Financial Officer
Bri HidalgoGroup Chief Risk Officer
Overview
Full Year 2025 Highlights
Fourth Quarter 2025 Financials
Q&A
Leading Bank in Attractive Markets
Strong Capital Generation and Return
Resilient, Capital Efficient, Diversified Fee Revenue Model
Efficient, Conservative Balance Sheet
Experienced Leadership Team
Sustainability
Ten International Locations
Leading market positions in Bermuda & Cayman
Expanding retail offerings in The Channel Islands
Well-secured lending in all markets
Award winning banking and wealth management offerings
Awards
3
Financials
Full Year 2025 Highlights(In US$ millions)
vs 2024
2025
$ %
Net Interest Income
$ 364.1
$ 12.9
Non-Interest Income
242.9
12.9
Provision for Credit Losses
(0.2)
1.4
Non-Interest Expenses*
(374.9)
(11.2)
Other Gains (Losses)
-
(0.4)
Net Income
$ 231.9
$ 15.6
7.2 %
Non-Core Items**
5.6
3.0
Core Net Income**
$ 237.5
$ 18.6
8.5 %
Net income of $231.9 million, or $5.47 per share
Core net income** of $237.5 million, or $5.60 per share
Return on average common equity of 21.7%; core return on average tangible common equity** of 24.2%
Net Interest Margin of 2.69%, cost of deposits of 1.50%
Tangible book value per share** of $26.41, an increase of
$4.71 per share or 21.7% from the end of 2024
Active capital management with aggregate annual dividends of $1.88 per share in addition to share repurchases of 3.5 million shares for a total of $146.7 million
Meroe Park appointed as Independent Director
Return on Equity
25.7%
24.2%
24.0%
24.2%
21.4% 21.7%
16.8% 18.7%
28.6% 27.0%
Net Income
(In US$ millions)
2021 2022 2023 2024 2025
Return on Equity
Core Return on Average Tangible Common Equity**
$214.0 $215.7
$225.5 $231.5
$216.3 $218.9
$231.9 $237.5
$162.7 $163.6
2021 2022 2023 2024 2025
Net income Core Net Income**
* Includes income taxes
5 ** See the Appendix for a reconciliation of non-GAAP measures
Fourth Quarter 2025 Highlights(In US$ millions)
vs. Q3 2025
vs. Q4 2024
Q4 2025
$ %
$ %
Net Interest Income
$ 92.6
$ (0.1)
$ 4.0
Non-Interest Income
66.3
5.1
3.0
Provision for Credit Losses
0.2
0.7
0.4
Non-Interest Expenses*
(95.3)
(3.1)
(3.1)
Other Gains (Losses)
-
-
(0.1)
Net Income
$ 63.8
$ 2.7
4.5 % $
4.2
7.1 %
Non-Core Items**
-
2.2 -
Core Net Income**
$ 63.8
$ 0.5
0.8 % $
4.2
7.1 %
Net income and core net income** of $63.8 million or $1.54 per share
Return on average common equity of 22.7%; core return on average tangible common equity** of 24.6%
Net Interest Margin of 2.69%, cost of deposits of 1.37%
Quarterly cash dividend of $0.50 per common share
Repurchases of 0.6 million shares at a total cost of $29.6 million
New share repurchase authorization for up to 3.0 million common shares
Return on Equity
22.9%
20.9%
22.7%
22.3% 22.5%
20.3%
25.2% 24.2%
25.5% 24.6%
Net Income
$59.6 $59.6
$61.1
$63.3
$63.8 $63.8
$53.8
$56.7
$53.3 $53.7
(In US$ millions)
Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025
Return on Equity
Core Return on Average Tangible Common Equity**
Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025
Net income Core Net Income**
* Includes income taxes
6 ** See the Appendix for a reconciliation of non-GAAP measures
Income Statement
Net Interest Income
$88.6
$92.6
(In US$ millions)
$92.7
(In US$ millions)
Q4 2025 vs Q3 2025
Avg. Balance Yield
Avg. Balance Yield
Net Interest Margin & Yields
Net Interest Income before Provision for Credit Losses -Trend
Interest Bearing | |||||||||||||||
Liabilities | 10,126.3 | (1.73)% | 109.1 | 0.12 % | |||||||||||
Net Interest Margin | 2.69 % | (0.04)% | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | ||||||||
Cash, S/T Inv. & Repos | $ 3,588.7 | 3.44 % | $ 114.0 | (0.20)% | |
Investments | 5,686.1 | 2.72 % | 160.0 | 0.05 % | |
Loans (net) | 4,396.3 | 6.01 % | (74.6) | (0.23)% | |
Interest Earning Assets | 13,671.1 | 3.97 % | 199.4 | (0.14)% |
Net interest income ("NII") remained relatively flat compared to the prior quarter
Net interest margin ("NIM") was lower at 2.69% compared to 2.73% in the prior quarter, primarily due to lower treasury and loan yields as central banks cut market interest rates
Average investment volumes continue to increase as assets were deployed into higher yielding available-for-sale investment securities
Average loan volumes continued to decrease as amortizations and paydowns outpaced originations
7
Income Statement
Non-Interest Income
(In US$ millions)
Q4 2025 vs. Q3 2025
$63.2
Non-Interest Income Trend (In US$ millions)
$61.2
$66.3
Asset management | $ 10.4 | $ 0.5 |
Banking | 19.7 | 1.9 |
Foreign exchange revenue | 13.7 | 0.5 |
Trust | 17.6 | 1.3 |
Custody and other | 4.0 | 0.9 |
Other | 0.8 | - |
Total Non-Interest Income $ 66.3 $ 5.1 | ||
Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025
Total non-interest income increased $5.1 million versus the prior quarter, primarily due to:
higher banking fees due to seasonal increases in card volumes and third party incentive programs;
higher trust income from new clients and fee increases;
volume-driven increase in foreign exchange fees; and
higher asset management revenue driven by increased asset valuations
The fee income ratio was 41.7% in the fourth quarter of 2025 which compares favorably to historical peer* averages
* Includes US banks identified by management as a peer group. Please see the Appendix for a list of these banks.
8
Income StatementNon-Interest Expenses
Core Non-Interest Expenses* vs. Q3 2025
(In US$ millions) Q4 2025 $ %
Salaries & Benefits**
$ 46.7
$ 0.8
1.8 %
Technology & Comm.
16.7
0.6
3.8 %
Professional & O/S Services
6.4
1.4
28.6 %
Property
8.4
0.2
2.8 %
Indirect Taxes
5.4
0.1
1.3 %
Marketing
1.9
0.6
40.1 %
Intangible Amortization
2.2
0.2
9.5 %
Other
5.4
0.6
12.7 %
Total Core Non-Interest Expenses*
$ 93.1
$ 4.5
5.1 %
Non-Core Expenses*
-
(2.2)
>100%
Non-Interest Expenses
$ 93.1
$ 2.3
2.6 %
Core Non-Interest Expense* Trend (In US$ millions)
$90.6 $88.5 $93.1
58.2%
56.2%
57.2%
Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025
Core Efficiency Ratio*
Core Non-Interest Expenses*Core non-interest expenses* increased compared to the prior quarter with the following underlying movements:
higher professional and outside services fees;
higher salaries and benefits due to higher staff incentive accrual in-line with positive operating results; and
higher marketing expenses from event costs and sponsorship
Core efficiency ratio* of 57.2% increased compared to the prior quarter and was favorable to the Bank's through-cycle core efficiency ratio target of 60%
* See the Appendix for a reconciliation of non-GAAP measures
** Includes Non-Service Employee Benefits Expense
9
Balance Sheet
(In US$ millions) | Q4 2025 | Q4 2024 | % | (In US$ billions) |
Cash and cash equivalents Reverse Repos & S/T Investments | $ 1,709 $ 1,853 | 1,998 1,785 | (15)% 4 % | $14.2 |
Investments | 5,688 | 5,513 | 3 % | |
Loans (net) | 4,382 | 4,474 | (2)% | |
Other Assets | 462 | 462 | - % |
vs Q4 2024
Total Assets
$14.1 $14.1
Total Assets | $ 14,095 | $ 14,231 | (1)% | $5.5 | $5.7 | $5.7 | |||||||
Int. Bearing Deposits | $ 9,997 | $ 10,058 | (1)% | $4.5 | $4.5 | $4.4 | |||||||
Non-Int. Bearing Deposits | 2,701 | 2,688 | 1 % |
Other Liabilities | 255 | 465 | (45)% |
Shareholders' Equity | 1,142 | 1,021 | 12 % |
Total Liab. & Equity $ 14,095 $ 14,231 (1)% | |||
Total Deposits | |||
(In US$ billions)
$12.7 $12.7 $12.7
Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025
10
Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025
Total assets Investments Loans
Period end deposit balances remained relatively flat compared to the prior year end at $12.7 billion
Average deposit balances increased to $12.8 billion in Q4 2025 from $12.5 billion at the prior year end
Butterfield's balance sheet remained low in risk density (risk weighted assets/total assets) at 28.3%
Asset QualityRes Mtg 70.6%
Loan Distribution
Consumer 4.4%
Comm'l R/E 12.8%
Investment Portfolio Rating Distribution
AAA 0.2%
$76.7
Non-Accrual Loans (In US$ millions)
$91.7 $91.3
Government 6.3%
$4.4
billion
Other Comm'l 5.9%
AA 99.8%
$5.7
billion
Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025
0.20%
0.15%
0.10%
0.05%
0.00%
0.04%
Net Charge-Off Ratio
0.01%
0.00%
71% of the total loan portfolio consists of full-recourse residential mortgages of which 79% have loans-to-values below 70%
Non-accrual loans were relatively flat for the quarter at 2.1%
Allowance for credit losses at $25.4 million represented an ACL/Total loans ratio of 0.6%, consistent with the prior quarter
The net charge-off ratio remained at a negligible level as a % of total gross loans
Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025
11
Interest Rate SensitivityAverage Balance - Balance Sheet
Interest Rate Sensitivity
Weighted
Average Balances
(US$Mil) Average
3.3%
6.6%
2.7%
Invest.
$ 3,588.7
$ 114.0
0.1
- N/A
AFS
2,657.1
227.0
2.9
(0.2) 3.4
(5.3)%
Cash & Reverse Repos & S/T
Q4 2025 vs. Q3 2025 Duration vs. Q3 2025
Life
(1.7)%
1.3%
HTM** 3,029.0 (66.9) 7.0 (0.1) 8.0
-100bps
+100bps
+200bps
NTB US Peer Median *
Total investment portfolio duration decreased to 4.9 years in line with the fixed portfolio maturing down, partially offset by forward rates rising
Interest rate sensitivity has increased against the prior quarter driven by updates to deposit beta assumptions
Net unrealized losses on AFS securities improved to $89.4 million as at December 31, 2025 compared with net unrealized losses of $101.5 million as at the end of the third quarter of 2025
Based on implied forward rates, the AFS OCI expected to further improve by 28% in the next 12 months
* Includes US banks identified by management as a peer group. Please see the Appendix for a list of these banks. Q3 2025 comparative data is used as Q4 2025 peer information was not widely available at time of publication.
** The HTM portfolio is comprised of securities with negative convexity which typically exhibit lower prepayment speeds when assuming higher future rates.
12
Capital Requirements and Dividend ReturnRegulatory Capital - Total Capital Ratio*
27.8%
8.6%
Leverage Capital
12.4%
11.9%
0.5%
7.5%
1.1%
15.4%
13.5%
Butterfield - Current US Peer Median**
Butterfield Current BMA Minimum US Peer Median***
TCE/TA TCE/TA Ex CashCombined Payout Ratio
$3.9
$79.9
$77.7
$86.2
$87.3
$88.6
$146.7
$155.3
43% 78% 109% 97%
2022 2023 2024 2025
Regulatory capital levels remain conservatively above minimum requirements
Quarterly dividend rate of $0.50 per common share
TCE/TA ratio*** of 7.5%, conservatively above the targeted range of 6.0% to 6.5%
Tangible book value per share*** increased by 5.4% compared to the prior quarter at $26.41
New Basel 4 rules effective on January 1, 2025 resulted in lower risk weighted assets and improved the regulatory capital ratio by 1.9%
Combined Payout Ratio
Share Repurchases Cash Dividend* Effective January 1, 2025, the Bank has adopted the BCBS's revised standardized approach for credit risk framework as required by the BMA.
13
** Includes US banks identified by management as a peer group. Please see the Appendix for a list of these banks. Q3 2025 comparative data is used as Q4 2025 peer information was not widely available at time of publication.
*** See the Appendix for a reconciliation of non-GAAP measures
Appendix
Deposit Composition by Segment
Group (US$ Billions) Bermuda (US$ Billions)
$12.7 $12.6 $12.8 $12.7 $12.7
21%
20%
20%
20%
21%
44%
48%
49%
49%
49%
31%
31%
31%
31%
35%
Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025
$4.8 $4.5 $4.5 $4.8 $4.5
35%
35%
36%
33%
35%
40%
44%
46%
44%
45%
21%
19%
20%
20%
26%
Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025
Cayman (US$ Billions) Channel Islands (US$ Billions)
$4.0 $3.9 $4.0 $3.8 $4.1
30%
28%
26%
26%
27%
44%
47%
50%
50%
46%
27%
25%
24%
24%
27%
Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025
$4.0 $4.2 $4.3 $4.2 $4.2
48%
1%
1%
1%
53%
49%
1%
1%
52%
54%
46%
50%
48%
45%
51%
Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025
15
Loans
Residential Mortgage Loans (US$ Billions) Commercial Loans (US$ Billions)
50%
49%
49%
50%
54%
21%
23%
22%
21%
19%
29%
29%
29%
28%
27%
$3.6 $3.6 $3.3 $3.1 $3.1
25%
6%
18%
23%
21%
24%
26%
9%
10%
9%
7%
22%
18%
22%
21%
51%
46%
48%
46%
48%
$1.3
$1.4
$1.4 $1.3
$1.1
2021 2022 2023 2024 2025
Bermuda
Cayman UK and Channel Islands2021 2022 2023 2024 2025
Commercial and Industrial Commercial Overdrafts Government Commercial Real Estate
55%
53%
49%
57%
43%
42%
Loan Portfolio Composition by Originating Segment (US$ Billions)
Fixed vs. Floating Rate Loans (US$ Billions)
$5.2
$5.1
$4.7
$4.5
$4.4
$5.2
$5.1
$4.7
$4.5
$4.4
20%
41%
19%
81%
37%
37%
25%
24%
38%
39%
45%
43%
47%
51%
33%
34%
39%
24%
24%
2021 2022 2023 2024 2025
Bermuda
Cayman UK and Channel Islands2021 2022 2023 2024 2025
Fixed Floating16
Balance Sheet Movements
Deposit Movements (US$ millions)
Deposit Composition by Currency (US$ billions)
7%
6% 6%
71%
71%
72%
23%
23%
21%
+5
-25
FX
Translation
Volume
$12.7 $12.7 $12.7
Change vs Q3
2025
$-20
Change vs Q4
2024
$-50
Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025
+310
-360
USD / USD Pegged
GBPOther Total deposits
Loan Movements (US$ millions) Loan Composition by Currency (US$ billions)
-%
-%
42%
42%
58%
58%
61%
1%
39%
-90
+5
$4.5 $4.5 $4.4
Change vs Q3
2025
$-85
Change vs Q4
2024
$-90
Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025
-220
+130
USD / USD Pegged
GBPOther Total loans
17
Balance Sheet Asset Mix
36%
36%
35%
35%
35%
NTB US Peer Median* NTB US Peer Median*
Q4 2025
Q3 2025
Q2 2025
Q1 2025
Q4 2024
Q4 2025
Q3 2025
Q2 2025
Q1 2025
Q4 2024
70%
71%
71%
71%
Liquidity: Cash & Cash Equivalents** to Total Assets Loan-to-Deposit Ratio
27%
26%
26%
25%
4%
5%
5%
5%
25%
Butterfield takes a conservative approach to managing the liquidity and funding risk profile of its balance sheet. This involves the retention of a significant liquidity holding of cash or cash equivalent balances, comprised of interbank deposits and short-dated sovereign Canadian, UK and US Treasury Bills, as well as maintaining significant liquidity facilities with correspondent banks
Butterfield also maintains capital, liquidity and funding buffers conservatively in excess of regulatory requirements
* Includes US banks identified by management as a peer group. Please see the Appendix for a list of these banks. Q4 2025 peer information was not widely available at time of publication and therefore not included.
** Includes securities purchased under agreements to resell and short-term investments.
18
Balance Sheet Trends
Q2 | Q1 | Q4 | Q |
1,450 | $ 2,097 | $ 1,998 | $ 2,067 |
2,247 | 1,498 | 1,785 | 1,750 |
5,458 | 5,448 | 5,513 | 5,468 |
4,578 | 4,518 | 4,474 | 4,648 |
453 | 458 | 462 | 441 |
14,185 | $ 14,020 | $ 14,231 | $ 14,373 |
12,838 | $ 12,608 | $ 12,746 | $ 12,738 |
- | 99 | 99 | 99 |
278 | 256 | 366 | 472 |
13,116 | $ 12,962 | $ 13,211 | $ 13,309 |
1,069 | $ 1,058 | $ 1,021 | $ 1,064 |
1,069 | $ 1,058 | $ 1,021 | $ 1,064 |
14,185 | $ 14,020 | $ 14,231 | $ 14,373 |
Q4 | Q | |
Assets Cash and cash equivalents | $ 1,709 | $ 1,501 |
Reverse Repos & S/T Investments | 1,853 | 1,987 |
Investments | 5,688 | 5,675 |
Loans, Net | 4,382 | 4,468 |
Other Assets | 462 | 456 |
Total Assets | $ 14,095 | $ 14,086 |
Liabilities and Equity Total Deposits | $ 12,698 | $ 12,721 |
Long-Term Debt Other Liabilities | - 255 | - 259 |
Total Liabilities | $ 12,953 | $ 12,980 |
Common Equity | $ 1,142 | $ 1,106 |
Total Equity | $ 1,142 | $ 1,106 |
(in millions of US Dollars, unless otherwise indicated) 2025 2024 2023
3 3 Q2 | Q1 | Q4 | |||||||
$ $ 2,390 | $ 1,746 | $ 1,647 | |||||||
1,289 | 1,480 | 1,225 | |||||||
5,168 | 5,168 | 5,292 | |||||||
4,585 | 4,644 | 4,746 | |||||||
506 | 490 | 464 | |||||||
$ $ 13,939 | $ 13,528 | $ 13,374 | |||||||
$ $ 12,548 | $ 12,131 | $ 11,987 | |||||||
99 | 99 | 98 | |||||||
293 | 304 | 285 | |||||||
$ $ 12,940 | $ 12,533 | $ 12,370 | |||||||
$ $ 999 | $ 995 | $ 1,004 | |||||||
$ $ 999 | $ 995 | $ 1,004 | |||||||
Total Liabilities and Equity $ 14,095 $ 14,086 $ $ 13,939 | $ 13,528 | $ 13,374 | |||||||
Key Metrics | |||||||||
CET 1 Ratio | 27.6 % | 26.9 % | 26.0 % | 25.2 % | 23.5 % | 22.1 % | 22.5 % | 22.6 % | 23.0 % |
Total Tier 1 Capital Ratio | 27.6 % | 26.9 % | 26.0 % | 25.2 % | 23.5 % | 22.1 % | 22.5 % | 22.6 % | 23.0 % |
Total Capital Ratio | 27.8 % | 27.0 % | 26.2 % | 27.7 % | 25.8 % | 24.3 % | 24.8 % | 24.9 % | 25.4 % |
Leverage ratio | 7.6 % | 7.5 % | 7.3 % | 7.4 % | 7.3 % | 7.1 % | 7.3 % | 7.5 % | 7.6 % |
Risk-Weighted Assets (in $ millions) | 3,991 | 4,014 | 4,063 | 4,207 | 4,539 | 4,776 | 4,668 | 4,648 | 4,541 |
Risk-Weighted Assets / total assets | 28.3 % | 28.5 % | 28.6 % | 30.0 % | 31.9 % | 33.2 % | 33.5 % | 34.4 % | 34.0 % |
Tangible common equity ratio | 7.5 % | 7.3 % | 6.9 % | 6.9 % | 6.6 % | 6.8 % | 6.5 % | 6.7 % | 6.8 % |
Book value per common share (in $) | 28.58 | 27.25 | 26.01 | 25.07 | 23.78 | 24.09 | 22.12 | 21.53 | 21.39 |
Tangible book value per share (in $) | 26.41 | 25.06 | 23.77 | 22.94 | 21.70 | 21.90 | 20.03 | 19.45 | 19.29 |
Non-accrual loans/gross loans | 2.1 % | 2.0 % | 2.0 % | 2.3 % | 1.7 % | 1.9 % | 1.5 % | 1.3 % | 1.3 % |
Non-performing assets/total assets | 0.8 % | 1.0 % | 0.8 % | 1.1 % | 1.1 % | 1.5 % | 1.1 % | 1.2 % | 1.0 % |
Allowance for credit losses/total loans | 0.6 % | 0.6 % | 0.6 % | 0.6 % | 0.6 % | 0.6 % | 0.5 % | 0.5 % | 0.5 % |
* Effective January 1, 2025, the Bank has adopted the BCBS's revised standardized approach for credit risk framework as required by the BMA. Comparatives were prepared under the prior credit risk framework.
19
Average Balance Sheet Trends
(in millions of US Dollars, unless otherwise | |||||||||||
indicated) | Q4 2025 | Q3 2025 | Q4 2024 | ||||||||
Average | Interest | Average rate | Average | Interest | Average rate | Average | Interest | Average rate | |||
Assets balance ($) | ($) | (%) | balance ($) | ($) | (%) | balance ($) | ($) | (%) | |||
Cash and cash equivalents, reverse | |||||||||||
investments | $ 3,588.7 | $ 31.1 | 3.44 % | $ 3,474.7 | $ 31.9 | 3.64 % | $ 3,441.1 | $ 36.9 | 4.25 % | ||
Investment in securities | 5,686.1 | 39.0 | 2.72 % | 5,526.0 | 37.2 | 2.67 % | 5,457.3 | 34.5 | 2.51 % | ||
AFS | 2,657.1 | 21.9 | 3.27 % | 2,430.1 | 19.8 | 3.24 % | 2,173.0 | 15.8 | 2.89 % | ||
HTM | 3,029.0 | 17.1 | 2.24 % | 3,095.9 | 17.4 | 2.23 % | 3,284.3 | 18.6 | 2.25 % | ||
Loans | 4,396.3 | 66.6 | 6.01 % | 4,470.9 | 70.3 | 6.24 % | 4,573.2 | 74.1 | 6.43 % | ||
Commercial | 1,188.6 | 18.3 | 6.11 % | 1,226.6 | 20.3 | 6.57 % | 1,321.9 | 21.2 | 6.36 % | ||
Consumer | 3,207.7 | 48.3 | 5.98 % | 3,244.3 | 50.0 | 6.11 % | 3,251.3 | 52.9 | 6.45 % | ||
Total interest earning assets | 13,671.1 | 136.8 | 3.97 % | 13,471.6 | 139.4 | 4.11 % | 13,471.6 | 145.5 | 4.28 % | ||
Other assets | 444.9 | 445.4 | 429.8 | ||||||||
Total assets | $ 14,116.0 | $ 13,917.0 | $ 13,901.4 | ||||||||
Liabilities | |||||||||||
Deposits - interest bearing | $ 10,125.1 | $ (44.1) | (1.73)% | $ 10,017.1 | $ (46.7) | (1.85)% | $ 9,943.7 | $ (54.4) | (2.17)% | ||
Securities sold under agreement to | |||||||||||
repurchase | 1.2 | - | (4.53)% | - | - | - % | 97.8 | (1.1) | (4.27)% | ||
Long-term debt | - | - | - % | - | - | - % | 98.7 | (1.4) | (5.51)% | ||
Interest bearing liabilities | 10,126.3 | (44.2) | (1.73)% | 10,017.1 | (46.7) | (1.85)% | 10,140.2 | (56.8) | (2.22)% | ||
Non-interest bearing customer deposits | 2,645.9 | 2,616.7 | 2,509.5 | ||||||||
Other liabilities | 238.2 | 231.2 | 245.3 | ||||||||
Total liabilities | $ 13,010.3 | $ 12,865.0 | $ 12,895.0 | ||||||||
Shareholders' equity | 1,105.6 | 1,052.0 | 1,006.4 | ||||||||
Total liabilities and shareholders' equity | $ 14,116.0 | $ 13,917.0 | $ 13,901.4 | ||||||||
repurchase agreements and short-term
Non-interest bearing funds net of non-
interest earning assets (free balance) $ 3,544.8 $ 3,454.5 $ 3,331.5
Net interest margin $ 92.6 2.69 %
$ 92.7 2.73 %
$ 88.6 2.61 %
20
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