Reports Q4 revenue $146.9M, consensus $141.34M. Michael Collins, Butterfield’s Chairman and Chief Executive Officer, commented, “Butterfield’s strong performance in 2023 was driven by active balance sheet management and an enhanced focus on long-term client relationships. Our conservative and profitable business model, characterized by limited credit risk, a high fee income ratio, and strong cash liquidity, was validated during the systemic challenges faced by U.S. regional banks last year. Butterfield also benefited from a resilient deposit base diversified across jurisdictions, sectors, and currencies.”
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