v3.25.4
Segmented information
 12 Months Ended
Dec. 31, 2025
Segment Reporting [Abstract]  
Segmented information
Note 15: Segmented information

The Bank is managed by the Chairman & CEO, its Chief Operating Decision Maker ("CODM"), on a geographic basis. The Bank presents four reportable segments, three
geographical and one other: Bermuda, Cayman, Channel Islands and the UK, and Other. The Other segment is composed of several non-reportable operating segments that
have been aggregated in accordance with GAAP. The Bermuda, Cayman, and Channel Islands and UK segments have a managing director who reports to the Chairman & CEO. Within the Other segment, each operating segment has a managing director that reports to the Group Head of Trust or Chief Operating Officer who ultimately reports to the Chairman & CEO. The Chairman & CEO and the segment managing director have final authority over resource allocation decisions and performance assessment.

The geographic segments reflect this management structure and the manner in which financial information is currently evaluated by the Chairman & CEO in assessing operating
performance. Segment results are determined based on the Bank's management reporting system, which assigns balance sheet and statement of operations items to each of
the geographic segments. The process is designed around the Bank's organizational and management structure and, accordingly, the results derived are not necessarily
comparable with similar information published by other financial institutions. A description of each reportable segment and table of financial results is presented below.

Accounting policies of the reportable segments are the same as those described in Note 2: Significant accounting policies. Transactions between segments are accounted for on an accrual basis and are all eliminated upon consolidation. The Bank generally does not allocate assets, revenues and expenses among its business segments, with the exception of certain corporate overhead expenses and loan participation revenue and expenses. Loan participation revenue and expenses are allocated pro-rata based upon the percentage of the total loan funded by each jurisdiction participating in the loan. Other expenses are comprised of marketing, non-service employee benefits and other non-interest expenses.

The Bermuda segment provides a comprehensive range of retail, commercial and private banking services. Retail services are offered to individuals and small to medium-sized
businesses through three branch locations and through internet banking, mobile banking, automated teller machines and debit cards. Retail services include deposit services,
consumer and mortgage lending, credit cards and personal insurance products. Commercial banking includes commercial lending and mortgages, cash management, payroll
services, remote banking and letters of credit. Treasury services include money market and foreign exchange activities. Bermuda’s wealth management offering consists of
Butterfield Asset Management Limited, which provides investment management, advisory and brokerage services and Butterfield Trust (Bermuda) Limited, which provides trust,
estate, company management and custody services. Bermuda is also the location of the Bank's head offices and accordingly, retains the unallocated corporate overhead
expenses.

The Cayman segment provides a comprehensive range of retail, commercial and private banking services. Retail services are offered to individuals and small to medium-sized
businesses through three branch locations and through internet banking, mobile banking, ATMs and debit cards. Retail services include deposit services, consumer and
mortgage lending, credit cards and property/auto insurance. Commercial banking includes commercial lending and mortgages, cash management, payroll services, remote
banking and letters of credit. Treasury services include money market and foreign exchange activities. Cayman’s wealth management offering comprises investment
management, advisory and brokerage services and Butterfield Trust (Cayman) Limited, which provides trust, estate and company management.

The Channel Islands and the UK segment includes the jurisdictions of Guernsey and Jersey (Channel Islands), and the UK. In the Channel Islands, a broad range of services
are provided to individuals, private clients, trusts, financial institutions and funds including deposit services, mortgage lending, credit cards, private and corporate banking,
treasury services, internet banking, wealth management and fiduciary services. The UK jurisdiction provides mortgage services for high-value residential properties.
The Other segment includes the jurisdictions of The Bahamas, Canada, Mauritius, Singapore and Switzerland. These operating segments individually and collectively do not
meet the quantitative threshold for segmented reporting and are therefore aggregated as non-reportable operating segments.


Total Assets by SegmentDecember 31, 2025December 31, 2024
Bermuda5,111,127 5,438,279 
Cayman 4,425,113 4,337,829 
Channel Islands and the UK4,599,096 4,526,623 
Other70,731 62,682 
Total assets before inter-segment eliminations14,206,067 14,365,413 
Less: inter-segment eliminations(111,173)(134,017)
Total14,094,894 14,231,396 
2025BermudaCaymanChannel Islands and the UKOtherTotal before eliminationsInter-segment eliminationsTotal
Year ended December 31
Interest income
Interest income 215,493 155,681 185,795 141 557,110 — 557,110 
Interest income - Inter-segment279 3,251 35 — 3,565 (3,565)— 
Interest income Total215,772 158,932 185,830 141 560,675 (3,565)557,110 
Interest expense
Interest expense42,010 38,331 112,687 — 193,028 — 193,028 
Interest expense - Inter-segment3,273 — 292 — 3,565 (3,565)— 
Interest expense Total45,283 38,331 112,979 — 196,593 (3,565)193,028 
Net interest income
Net interest income 173,483 117,350 73,108 141 364,082 — 364,082 
Net interest income - Inter-segment(2,994)3,251 (257)— — — — 
Net interest income Total170,489 120,601 72,851 141 364,082 — 364,082 
Non-interest income100,435 77,014 44,505 46,447 268,401 (25,494)242,907 
Allowance for credit losses2,725 (174)(2,768)— (217)— (217)
Net revenue before gains and losses273,649 197,441 114,588 46,588 632,266 (25,494)606,772 
Gains and losses25 (16)11 — 20 — 20 
Total net revenue273,674 197,425 114,599 46,588 632,286 (25,494)606,792 
Expenses
Salaries and other employee benefits78,088 28,647 46,163 29,737 182,635 — 182,635 
Technology and communications31,823 13,544 9,324 1,530 56,221 — 56,221 
Non-income taxes17,716 1,675 2,495 1,403 23,289 — 23,289 
Professional and outside services13,964 2,386 4,232 1,322 21,904 — 21,904 
Property9,380 2,880 6,741 2,571 21,572 — 21,572 
Amortization of intangible assets1,430 1,101 3,571 1,900 8,002 — 8,002 
Depreciation13,624 4,505 2,729 485 21,343 — 21,343 
Income tax benefit (expense) — — 4,895 1,129 6,024 — 6,024 
Other expenses42,485 13,760 (560)3,669 59,354 (25,494)33,860 
Expenses Total208,510 68,498 79,590 43,746 400,344 (25,494)374,850 
Net income65,164 128,927 35,009 2,842 231,942 — 231,942 
2024BermudaCaymanChannel Islands and the UKOtherTotal before eliminationsInter-segment eliminationsTotal
Year ended December 31
Interest income
Interest income 222,674 159,109 203,696 238 585,717 — 585,717 
Interest income - Inter-segment7,140 5,275 1,048 — 13,463 (13,463)— 
Interest income Total229,814 164,384 204,744 238 599,180 (13,463)585,717 
Interest expense
Interest expense53,559 46,948 134,007 — 234,514 — 234,514 
Interest expense - Inter-segment6,290 29 7,144 — 13,463 (13,463)— 
Interest expense Total59,849 46,977 141,151 — 247,977 (13,463)234,514 
Net interest income
Net interest income 169,115 112,161 69,689 238 351,203 — 351,203 
Net interest income - Inter-segment850 5,246 (6,096)— — — — 
Net interest income Total169,965 117,407 63,593 238 351,203 — 351,203 
Non-interest income93,733 71,949 44,366 42,361 252,409 (22,394)230,015 
Allowance for credit losses(1,834)135 37 — (1,662)— (1,662)
Net revenue before gains and losses261,864 189,491 107,996 42,599 601,950 (22,394)579,556 
Gains and losses88 — 289 — 377 — 377 
Total net revenue261,952 189,491 108,285 42,599 602,327 (22,394)579,933 
Expenses
Salaries and other employee benefits74,985 27,207 45,617 26,215 174,024 — 174,024 
Technology and communications30,866 14,196 9,823 1,404 56,289 — 56,289 
Non-income taxes17,231 1,965 2,225 1,251 22,672 — 22,672 
Professional and outside services14,033 2,135 5,581 945 22,694 — 22,694 
Property9,015 2,925 8,085 2,469 22,494 — 22,494 
Amortization of intangible assets1,429 1,101 3,456 2,020 8,006 — 8,006 
Depreciation13,174 4,517 3,078 585 21,354 — 21,354 
Income tax benefit (expense) — — 3,337 1,194 4,531 — 4,531 
Other expenses37,885 13,002 (54)3,114 53,947 (22,394)31,553 
Expenses Total198,618 67,048 81,148 39,197 386,011 (22,394)363,617 
Net income63,334 122,443 27,137 3,402 216,316 — 216,316 
2023BermudaCaymanChannel Islands and the UKOtherTotal before eliminationsInter-segment eliminationsTotal
Year ended December 31
Interest income
Interest income 220,946 159,043 165,558 83 545,630 — 545,630 
Interest income - Inter-segment1,925 6,908 1,358 — 10,191 (10,191)— 
Interest income Total222,871 165,951 166,916 83 555,821 (10,191)545,630 
Interest expense
Interest expense 36,511 31,214 110,945 — 178,670 — 178,670 
Interest expense - Inter-segment5,699 1,050 3,442 — 10,191 (10,191)— 
Interest expense Total42,210 32,264 114,387 — 188,861 (10,191)178,670 
Net interest income
Net interest income 184,435 127,829 54,613 83 366,960 — 366,960 
Net interest income - Inter-segment(3,774)5,858 (2,084)— — — — 
Net interest income Total180,661 133,687 52,529 83 366,960 — 366,960 
Non-interest income89,948 66,891 39,074 35,801 231,714 (19,378)212,336 
Allowance for credit losses(4,755)61 242 — (4,452)— (4,452)
Net revenue before gains and losses265,854 200,639 91,845 35,884 594,222 (19,378)574,844 
Gains and losses4,011 (4)(253)(1)3,753 — 3,753 
Total net revenue269,865 200,635 91,592 35,883 597,975 (19,378)578,597 
Expenses
Salaries and other employee benefits78,573 30,067 46,272 23,027 177,939 — 177,939 
Technology and communications29,232 12,556 8,670 1,476 51,934 — 51,934 
Non-income taxes16,769 1,817 1,821 1,050 21,457 — 21,457 
Professional and outside services14,006 1,815 4,301 934 21,056 — 21,056 
Property9,116 2,882 7,239 2,414 21,651 — 21,651 
Amortization of intangible assets1,430 1,101 2,821 376 5,728 — 5,728 
Depreciation11,390 3,677 4,018 682 19,767 — 19,767 
Income tax benefit (expense) — — 1,278 (511)767 — 767 
Other expenses38,343 10,596 1,511 1,734 52,184 (19,378)32,806 
Expenses Total198,859 64,511 77,931 31,182 372,483 (19,378)353,105 
Net income71,006 136,124 13,661 4,701 225,492 — 225,492