Butterfield Files CIBC Caribbean Financials for $1.8B Acquisition
NTB sits 57% above its 52-week low of $40.59.
Summary
Butterfield filed detailed financial statements for CIBC Caribbean, the target of its $1.8B acquisition, revealing $13.76B in assets and $213M in FY2025 net income.
Key Events · M&A and Partnerships · NTB
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CIBC Caribbean Financials Filed
Butterfield furnished audited FY2025 and FY2024 financial statements, plus unaudited six-month 2026 interim financials, for CIBC Caribbean.
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Target's Financial Scale
CIBC Caribbean reported total assets of $13.76 billion as of October 31, 2025, and net income of $213.0 million for fiscal 2025.
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Interim Performance
For the six months ended April 30, 2026, CIBC Caribbean reported net income of $104.96 million, down from $124.07 million in the prior-year period.
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Deal Terms Confirmed
The filing reiterates the $1,794 million purchase price (US$1,091M cash + US$703M Butterfield shares) and expected closing in the first half of 2027.
Analysis · NTB · Finance
Butterfield furnished the audited and interim financial statements of CIBC Caribbean, the target of its $1.8 billion acquisition announced in May 2026. The financials show CIBC Caribbean had total assets of $13.76 billion and net income of $213 million in fiscal 2025, with $104.96 million in net income for the six months ended April 30, 2026. This gives investors the first detailed look at the target's financial health and earnings power, which is critical for assessing the deal's impact on Butterfield's future earnings and balance sheet. The filing confirms the purchase price of $1,794 million (US$1,091M cash + US$703M Butterfield shares) and expected closing in the first half of 2027.
At the time of this filing, NTB was trading at $63.91 on NYSE in the Finance sector, with a market capitalization of approximately $2.5B. The 52-week trading range was $40.59 to $64.17. This filing was assessed with neutral market sentiment and an importance score of 7 out of 10.