The Bank of N.T. Butterfield & Son Limited (NYSE:NTB) Q4 2022 Results Conference Call February 14, 2023 10:00 AM ET

Company Participants

Noah Fields - Head, IR

Michael Collins - Chairman and CEO

Craig Bridgewater - Group CFO

Michael Schrum - President and Group Chief Risk Officer

Conference Call Participants

Alex Twerdahl - Piper Sandler

Timur Braziler - Wells Fargo Securities

David Feaster - Raymond James

Tim Switzer - KBW

Operator

Good morning. My name is Dave, and I will be your conference operator today. At this time, I would like to welcome everyone to the Fourth Quarter and Full Year 2022 Earnings Call for The Bank of N.T. Butterfield & Son Limited. After today’s presentation, there will be an opportunity to ask questions. [Operator Instructions] Please note, this event is being recorded.

I would now like to turn the call over to Noah Fields, Butterfield’s Head of Investor Relations.

Noah Fields

Thank you. Good morning, everyone, and thank you for joining us. Today, we will be reviewing Butterfield’s fourth quarter and full year 2022 financial results.

On the call, I’m joined by Michael Collins, Butterfield’s Chairman and Chief Executive Officer; Craig Bridgewater, Group Chief Financial Officer; and Michael Schrum, President and Group Chief Risk Officer. Following their prepared remarks, we will open the call up for a question-and-answer session.

Yesterday afternoon, we issued a press release announcing our fourth quarter and full year 2022 results. The press release along with the slide presentation that we will refer to during our remarks on this call, are available on the Investor Relations section of our website at www.butterfieldgroup.com.

Before I turn the call over to Michael Collins, I would like to remind everyone that today’s discussions will refer to certain non-GAAP measures, which we believe are important in evaluating the Company’s performance. For a reconciliation of these measures to U.S. GAAP, please refer to the earnings press release and slide presentation.

Today’s call and associated materials may also contain certain forward-looking statements, which are subject to risks, uncertainties and other factors that may cause actual results to differ materially from those contemplated by these statements. Additional information regarding these risks can be found in our SEC filings.

I will now turn the call over to Michael Collins.

Michael Collins

Thank you, Noah, and thanks to everyone joining the call today.

Butterfield’s excellent results in the fourth quarter and full year 2022 benefited from strong positioning in our core banking and private trust markets in Bermuda, the Cayman Islands and the Channel Islands. In addition to these locations, we provide specialized financial and trust services in Singapore, The Bahamas and Switzerland as well as United Kingdom based mortgage lending and high-end Central London. The Bank’s geographic footprint is strategically based across best-in-class offshore banking and trust locations. Our revenue generating operating jurisdictions are efficiently supported in market and in addition by our service centers in Mauritius and Halifax, Canada.