The Bank of N.T. Butterfield & Son Limited (NYSE:NTB) Q2 2024 Results Earnings Conference Call July 23, 2024 10:00 AM ET
Company Participants
Noah Fields - Vice President of Investor Relations
Michael Collins - Chairman and Chief Executive Officer
Craig Bridgewater - Group Chief Financial Officer
Michael Schrum - President and Group Chief Risk Officer
Conference Call Participants
David Feaster - Raymond James
Tim Switzer - Keefe, Bruyette & Woods
Operator
Good morning. My name is Nick and I will be your conference operator today. At this time, I would like to welcome everyone to the Second Quarter 2024 Earnings Call for The Bank of N.T. Butterfield & Son Limited.
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 second quarter 2024 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 second quarter 2024 results. The press release and financial statements, along with a 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'd 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 US 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. Thanks to everyone joining the call today. I am pleased with Butterfield's performance in the second quarter as we achieved strong profitability supported by client-focused products and services, a stable balance sheet, diverse fee income, and disciplined expense management.
In Bermuda and the Cayman Islands, we benefited from our market-leading bank and trust businesses, while we continue to develop our mass affluent product offerings in the Channel Islands.