v3.25.4
Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Assets    
Cash and demand deposits with banks - Non-interest bearing $ 105,440 $ 93,145
Demand deposits with banks - Interest bearing 171,201 165,741
Cash equivalents - Interest bearing 1,432,295 1,739,226
Cash and cash equivalents 1,708,936 1,998,112
Securities purchased under agreements to resell 1,096,238 1,205,373
Short-term investments 756,543 580,026
Investment in securities    
Available-for-sale investments 2,696,253 2,272,486
Held-to-maturity 2,992,052 3,240,290
Total investment in securities 5,688,305 5,512,776
Loans    
Loans 4,407,787 4,499,300
Allowance for credit losses (25,376) (25,709)
Loans, net of allowance for credit losses 4,382,411 4,473,591
Premises, equipment and computer software, net 158,504 153,782
Goodwill 25,385 23,617
Other intangible assets, net 61,412 65,992
Equity method investments 6,755 6,594
Accrued interest and other assets 210,405 211,533
Total assets 14,094,894 14,231,396
Deposits    
Non-interest bearing 2,701,145 2,687,877
Interest bearing 9,996,923 10,058,032
Total deposits 12,698,068 12,745,909
Securities sold under agreements to repurchase 0 92,562
Employee benefit plans 84,466 83,589
Accrued interest and other liabilities 170,509 189,799
Total other liabilities 254,975 365,950
Long-term debt 0 98,725
Total liabilities 12,953,043 13,210,584
Commitments, contingencies and guarantees (Note 12)
Shareholders' equity    
Common share capital (BMD 0.01 par; authorized voting ordinary shares 2,000,000,000 and non-voting ordinary shares 6,000,000,000) issued and outstanding: 39,948,264 (2024: 43,537,979) 399 435
Additional paid-in capital 851,223 916,394
Retained earnings 494,384 422,461
Less: treasury common shares, at cost: Nil (2024: 619,212) 0 (23,063)
Accumulated other comprehensive income (loss) (204,155) (295,415)
Total shareholders’ equity 1,141,851 1,020,812
Total liabilities and shareholders’ equity $ 14,094,894 $ 14,231,396