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Bank of Butterfield Adds Presence in Bahamas

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HAMILTON, Bermuda (–The Bank of N. T. Butterfield & Son Ltd. expanded into the Bahamas with the purchase of Thorand Bank & Trust Ltd., of Nassau.

Bank of Butterfield had sought to enter the Bahamas market, which has shown a commitment to developing itself as an international business domicile, said Alan Thompson, president and chief executive of Bank of Butterfield, in a statement.

The company will be renamed Bank of Butterfield (Bahamas) Ltd., and its current president, Robert Lotmore, will continue with the business as a managing director.