Butterfield & Son to Buy CIBC Caribbean Stake in $1.8 Billion Deal

Bank of N.T. Butterfield & Son (NYSE: NTB) agreed to acquire a stake in Canadian Imperial Bank of Commerce’s (NYSE: CM) Caribbean banking operations for $1.8 billion, the company said on May 28, 2026. The deal expands Butterfield’s presence in the region. The transaction, which is subject to regulatory approvals, is expected to close later this year. Further financial details were not immediately disclosed.