Butterfield Bank has reported net income of $11.8 million for the three months ended June 30--- the second quarter in a row it has made a profit.The bank had recorded net income of $8.4 million in the first quarter of 2011.The bank’s chief executive Brad Kopp said the bank has seen no major increases in loan delinquencies in the second quarter.“We are pleased that Butterfield has delivered a profit for a second consecutive quarter in what continues to be a challenging operating environment,” said Mr. Kopp, Butterfield’s president and chief executive officer.“Against a backdrop of economic slowdown in key Butterfield markets and continued low interest rates, the Bank’s profitability and year-on-year increases in net interest income are good indicators that we are doing the right things to maintain customer loyalty and effectively manage our balance sheet. We continue the difficult work of reducing our cost base.”Mr. Kopp continued, “Our deposits are stable and our loan portfolio continues to perform well, considering the economic situation. At this time, we have seen no significant increases in delinquencies and the residential mortgage book is holding up.”