February 2007: Butterfield Bank announced an annual profit of 146 million for 2007, up 8.9 percent on 2006.

April 2008: The bank reported first-quarter earnings of $36.3 million — an increase of 1.8 percent compared to the same period last year.

August 2008: The bank announced a loss of $16.5 million for the second quarter, resulting from combined losses totalling $50 million on a write-down in the value of mortgage-backed investments and support of its Money Markets Fund. But that was partially offset by the announcement of a merger of its Bermuda-based and international Fund Services businesses with independent fund administrator Fulcrum Group to form the new company Butterfield Fulcrum Group (BFG), which would realise a gain of about $115 million from the deal in the third quarter of 2008.

September 2008: CEO Alan Thompson reassures shareholders and customers that the bank was stable and in sound financial condition after receiving numerous queries about its position from concerned parties in the wake of the turmoil in the world financial markets.

October 2008: The bank posted a third-quarter profit of $80.5 million, its highest third-quarter earnings on record, up 102.9 percent over the previous year. But the news was tempered by an unrealised third-quarter loss of $6.9 million incurred, based on a credit support agreement provided to Butterfield Money Market Fund Ltd.

November 2008: Butterfield Bank Group announced it was set to outsource some of its information technology operations to EDS and could axe a number of IT posts at the bank.

January 2009: Butterfield Fulcrum Group, in which Butterfield Bank owns a 40 percent stake, axed some 30 staff from its Bermuda office due to the impact of the global economic crisis.

Yesterday: The bank announced it had signed a deal with Government allowing it to raise $200 million to help Butterfield withstand a severe economic downturn.