Butterfield beats estimates with $50.9m profit

Butterfield Bank ended 2018 on a high with fourth quarter net income of $50.9m or $0.92 per share, compared to $50.4m in the third quarter of 2018 and $40.3m in the fourth quarter of 2017. For the year, the bank achieved net income of $195.2m, or $3.50 per share, up from $153.3m. Core net income, which includes revenue, gains, losses and expense items incurred in the normal course of business, jumped to $197m from $158.9m a year earlier. Michael Collins, chairman and CEO, said: "2018 was an important year for Butterfield as we completed two strategic and accretive acquisitions and con...