Butterfield Completes Repurchase and Cancellation of 80 Million Shares Formerly Held by CIBC

Hamilton, Bermuda: 01 May 2015 - The Bank of N.T. Butterfield & Son Limited (“Butterfield” or “The Bank”) today announced that it has completed the repurchase and cancellation of 80 million Butterfield common shares formerly held by Canadian Imperial Bank of Commerce (“CIBC”). 

The Bank announced its intention to repurchase for cancellation 80 million shares from CIBC’s shareholdings at a purchase price of $1.50 per share under an agreement publicised on 27 April 2015.

-ENDS-

Notes to Editors:

*The Bank of N.T. Butterfield & Son Limited (“Butterfield”) is Bermuda’s first and largest independent bank, and a specialist provider of international financial services. The Butterfield Group offers a full range of community banking services in Bermuda and the Cayman Islands, encompassing retail and corporate banking and treasury activities. Butterfield also provides private banking, asset management and personal trust services from its headquarters in Bermuda and subsidiary offices in the Cayman Islands, Guernsey and the United Kingdom. In Switzerland and The Bahamas, Butterfield provides personal trust and company services.  Butterfield is a publicly traded corporation with shares listed on the Bermuda Stock Exchange.  Butterfield’s share price is published daily in The Royal Gazette (www.theroyalgazette.com) and is also available on Bloomberg Financial Markets (symbol: NTB BH) and the Bermuda Stock Exchange website (www.bsx.com).  Further details on the Butterfield Group can be obtained from our website at: www.butterfieldgroup.com.

Media Relations Contact:                                   

Mark Johnson

Vice President, Communications, Brand & Public Affairs

The Bank of N.T. Butterfield & Son Limited

Phone: (441) 299 1624

Cellular: (441) 524 1025

Fax: (441) 295 3878

E-mail: mark.johnson@butterfieldgroup.com