Butterfield shares declined 1.2% post-earnings, reflecting a broadly neutral investor response to Q1 2026 results. The quarter showed stable profitability and improvements in net interest margin, though the market remains cautious on growth moderation in key jurisdictions.

• Core net income was $63.2 million with core EPS of $1.55 and a core ROE of 24.1% for the quarter.
• Net interest margin improved sequentially by 6 basis points to 2.75%, aided by lower deposit costs.
• Deposit volumes remained stable across all jurisdictions; noninterest expenses were contained.
• The acquisition of Rawlinson & Hunter Guernsey closed, expanding the group’s trust business and increasing assets under administration to $146 billion.
• Economic outlook in core markets like Bermuda and Cayman Islands is positive but points to moderating growth, with Cayman's GDP forecast to slow to around 2% after several years of outsized expansion.