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NORTHERN TRUST CORPORATION REPORTS SECOND QUARTER
NET INCOME OF $792.2 MILLION, EARNINGS PER DILUTED COMMON SHARE OF $4.23
CHICAGO, JULY 22, 2026 - Northern Trust Corporation today reported second quarter net income per diluted common share of $4.23, compared to $2.71 in the first quarter of 2026 and $2.13 in the second quarter of 2025. Net income was $792.2 million, compared to $525.5 million in the prior quarter and $421.3 million in the prior-year quarter.
Second Quarter 2026 results included the following notable items:
- $451.5 million (pre-tax) impact to Other Noninterest Income from notable items (after-tax $342.0 million):
- $525.4 million (pre-tax) gain related to Northern Trust’s participation in the second Visa, Inc. Exchange Offer, recognized in Other Operating Income (after-tax $396.4 million).
- $73.9 million (pre-tax) loss on available for sale debt securities sold in conjunction with a repositioning of the portfolio, recognized in Investment Security Gains (Losses), net (after-tax $54.4 million).
- $145.6 million (pre-tax) impact to Noninterest Expense from notable items (after-tax $109.9 million):
- $61.5 million (pre-tax) charge related to software dispositions, recognized in Equipment and Software expense (after-tax $46.4 million).
- $51.0 million (pre-tax) of severance-related charges, recognized in Compensation and Benefits expense (after-tax $38.5 million).
- $33.1 million (pre-tax) expense related to a broad based one-time equity grant to eligible employees, recognized in Compensation and Benefits expense (after-tax $25.0 million).
MICHAEL O’GRADY, CHAIRMAN AND CHIEF EXECUTIVE OFFICER:
“Northern Trust delivered another quarter of strong performance reflecting disciplined execution of our One Northern Trust strategy amid a constructive operating environment. Excluding notable items in the period, earnings per share increased 40%. Revenue increased 13% versus last year, supported by robust fee growth, healthy capital markets activity, and double-digit net interest income growth. Our progress against our strategic priorities helped drive an eighth consecutive quarter of positive organic trust-fee growth. Expenses were well controlled, and the Corporation generated more than 700 basis points of operating leverage for the second consecutive quarter. The Corporation returned over $1 billion of capital to shareholders in the first half of the year and its Board of Directors approved a $0.08 or 10% increase to the quarterly dividend at its meeting on July 21st, 2026. We remain focused on supporting our clients, advancing our strategic priorities, and delivering long-term value to our shareholders through sustainable financial performance across market environments as we enter the second half of the year.”
| | | | % Change Q2 2026 vs. |
|---|
| FINANCIAL SUMMARY & KEY METRICS | | | | |
| ($ In Millions except per share data) | Q2 2026 | Q1 2026 | Q2 2025 | Q1 2026 | Q2 2025 |
| Trust, Investment and Other Servicing Fees | $1,349.5 | $1,341.4 | $1,231.1 | 1% | | 10% | |
| Other Noninterest Income | 673.0 | 210.2 | 156.3 | | N/M | | N/M |
| Net Interest Income (FTE*) | 683.1 | 661.6 | 615.2 | 3 | | 11 | |
| Total Revenue (FTE*) | $2,705.6 | $2,213.2 | $2,002.6 | 22% | | 35% | |
| Noninterest Expense | $1,638.6 | $1,508.0 | $1,416.6 | 9% | | 16% | |
| Provision for Credit Losses | (5.3) | (3.0) | 16.5 | | N/M | | N/M |
| Provision for Income Taxes | 272.5 | 175.1 | 143.5 | | 56 | | 90 |
| FTE Adjustment* | 7.6 | 7.6 | 4.7 | | - | | 59 |
| Net Income | $792.2 | $525.5 | $421.3 | 51% | | 88% | |
| Earnings Allocated to Common Shares | $782.2 | $504.7 | $412.8 | 55% | | 90% | |
| Diluted Earnings per Common Share | $4.23 | $2.71 | $2.13 | 56 | | 98 | |
| Return on Average Common Equity | 25.9% | 17.4% | 14.2% | | |
| Average Assets | $163,575.8 | $165,297.3 | $157,719.2 | (1)% | | 4% | |
(*) Net interest income and total revenue presented on a fully taxable equivalent (FTE) basis are non-generally accepted accounting principles (non-GAAP) financial measures. Refer to the Reconciliation to Fully Taxable Equivalent section for further detail.
NORTHERN TRUST CORPORATION SECOND QUARTER 2026 RESULTS
| As of | % Change June 30, 2026 vs. |
|---|
| CLIENT ASSETS | | | | | |
| Assets under custody/administration (AUC/A) and assets under management are a driver of the Corporation’s trust, investment and other servicing fees, the largest component of noninterest income. |
| ($ In Billions) | June 30, 2026* | March 31, 2026 | June 30, 2025 | March 31, 2026 | June 30, 2025 |
| Assets Under Custody/Administration | | | | | |
| Asset Servicing | $18,635.2 | $17,288.6 | $16,864.9 | 8% | 10% |
| Wealth Management | 1,365.0 | 1,265.3 | 1,203.4 | 8 | 13 |
| Total Assets Under Custody/Administration | $20,000.2 | $18,553.9 | $18,068.3 | 8% | 11% |
| Assets Under Custody | | | | | |
| Asset Servicing | $14,587.7 | $13,521.1 | $13,056.5 | 8% | 12% |
| Wealth Management | 1,351.1 | 1,254.2 | 1,187.2 | 8 | 14 |
| Total Assets Under Custody | $15,938.8 | $14,775.3 | $14,243.7 | 8% | 12% |
| Assets Under Management | | | | | |
| Asset Servicing | $1,436.0 | $1,287.3 | $1,229.2 | 12% | 17% |
| Wealth Management | 533.9 | 497.6 | 468.5 | 7 | 14 |
| Total Assets Under Management | $1,969.9 | $1,784.9 | $1,697.7 | 10% | 16% |
Assets Under Custody are a component of Assets Under Custody/Administration.
Client assets for the current quarter are considered preliminary until the Form 10-Q is filed with the Securities and Exchange Commission.
Total assets under custody/administration and assets under custody increased sequentially primarily driven by favorable markets and net client inflows. Total assets under custody/administration and assets under custody increased from the prior-year quarter, primarily driven by favorable markets, partially offset by unfavorable currency translation.
Total assets under management increased sequentially and compared to the prior-year quarter primarily reflecting favorable markets and net client inflows.
| | | | % Change Q2 2026 vs. |
|---|
| TRUST, INVESTMENT AND OTHER SERVICING FEES | | | | |
| ($ In Millions) | Q2 2026 | Q1 2026 | Q2 2025 | Q1 2026 | Q2 2025 |
| Asset Servicing | | | | | |
| Custody and Fund Administration | $512.3 | $497.6 | $469.2 | 3% | 9% |
| Investment Management | 172.2 | 169.2 | 157.3 | 2 | 10 |
| Securities Lending | 29.4 | 23.3 | 20.2 | 26 | 46 |
| Other | 43.5 | 50.4 | 45.1 | (14) | (3) |
| Total Asset Servicing Trust, Investment and Other Servicing Fees | $757.4 | $740.5 | $691.8 | 2% | 9% |
| Wealth Management | | | | | |
| Private Wealth | $483.0 | $486.0 | $434.8 | (1)% | 11% |
| Global Family Office (GFO) | 109.1 | 114.9 | 104.5 | (5) | 4 |
| Total Wealth Management Trust, Investment and Other Servicing Fees | $592.1 | $600.9 | $539.3 | (1)% | 10% |
| Total Consolidated Trust, Investment and Other Servicing Fees | $1,349.5 | $1,341.4 | $1,231.1 | 1% | 10% |
Beginning in Q2 2026, Wealth Management Trust, Investment and Other Servicing Fees by region are combined into the Private Wealth line item. Prior periods have been revised.
Asset Servicing and Wealth Management Trust, Investment and Other Servicing Fees are impacted by both one-month and one-quarter lagged asset values.
Total Asset Servicing Trust, Investment and Other Servicing Fees increased both sequentially and from the prior-year quarter.
- Custody and Fund Administration fees increased from the prior-year quarter primarily due to favorable markets and net new business.
- Investment Management fees increased from the prior-year quarter primarily due to favorable markets and net client inflows.
- Securities Lending fees increased sequentially primarily due to higher spreads. Securities Lending fees increased from the prior-year quarter primarily due to higher trading volumes and spreads.
- Other trust, investment and other servicing fees decreased sequentially primarily due to higher fees associated with seasonal benefit payment services during the first quarter each year.
Total Wealth Management Trust, Investment and Other Servicing Fees decreased sequentially and increased from the prior-year quarter.
- Private Wealth fees increased from the prior-year quarter primarily due to favorable markets.
- GFO fees decreased sequentially primarily due to the impact of lower asset values on a lagged quarter basis.
NORTHERN TRUST CORPORATION SECOND QUARTER 2026 RESULTS
| | | | % Change Q2 2026 vs. |
|---|
| REPORTING SEGMENT RESULTS | | | | |
| ($ In Millions) | Q2 2026 | Q1 2026 | Q2 2025 | Q1 2026 | Q2 2025 |
| Income (Loss) before Income Taxes (FTE*) | | | | | |
| Asset Servicing | $323.3 | $373.3 | $271.4 | (13)% | | 19% | |
| Wealth Management | 333.5 | 330.2 | 309.6 | 1 | | 8 | |
| Other | 415.5 | 4.7 | (11.5) | | N/M | | N/M |
| Total Income before Income Taxes (FTE*) | $1,072.3 | $708.2 | $569.5 | 51% | | 88% | |
| Pre-Tax Margin (FTE*) | | | | |
| Asset Servicing | 23.7% | 28.3% | 23.2% | (4.6)pts | | 0.5pts | |
| Wealth Management | 37.4 | 37.1 | 37.2 | 0.3 | | 0.2 | |
| Total Pre-Tax Margin (FTE*) | 39.6% | 32.0% | 28.4% | 7.6pts | | 11.2pts | |
| Average Loans | | | | | |
| Asset Servicing | $5,800.6 | $5,632.5 | $5,812.8 | 3% | | - % | |
| Wealth Management | 35,767.0 | 35,261.8 | 35,345.2 | 1 | | 1 | |
| Total Average Loans | $41,567.6 | $40,894.3 | $41,158.0 | 2% | | 1% | |
| Average Deposits | | | | | |
| Asset Servicing | $100,980.6 | $102,421.0 | $95,506.7 | (1)% | | 6% | |
| Wealth Management | 26,715.1 | 26,469.8 | 25,291.0 | 1 | | 6 | |
| Other | 150.0 | 141.0 | 1,580.1 | 6 | | | (91) |
| Total Average Deposits | $127,845.7 | $129,031.8 | $122,377.8 | (1)% | | 4% | |
The current quarter charges related to software dispositions ($61.5 million) and severance ($51.0 million) are allocated to the Reporting Segments with $100.6 million allocated to Asset Servicing and $11.9 million allocated to Wealth Management.
The current quarter $525.4 million gain related to Northern Trust's participation in the second Visa Exchange Offer, the $73.9 million loss on available for sale debt securities sold in conjunction with a repositioning of the portfolio, and the $33.1 million one-time equity grant to eligible employees are retained within Other.
(*) Income (Loss) before Income Taxes and Pre-Tax Margin presented on a fully taxable equivalent (FTE) basis are non-generally accepted accounting principles (non-GAAP) financial measures. Refer to the Reconciliation to Fully Taxable Equivalent section for further detail.
Note: Reporting segment results are subject to reclassification when organizational changes are made. The results are also subject to refinements in revenue and expense allocation methodologies, which are typically reflected on a retrospective basis unless it is impractical to do so.
| | | | % Change Q2 2026 vs. |
|---|
| OTHER NONINTEREST INCOME | | | | |
| ($ In Millions) | Q2 2026 | Q1 2026 | Q2 2025 | Q1 2026 | Q2 2025 |
| Other Noninterest Income | | | | | |
| Foreign Exchange Trading Income | $97.1 | $87.7 | $50.6 | 11% | | 92% | |
| Security Commissions and Trading Income | 55.6 | 52.1 | 39.6 | 7 | | 40 | |
| Other Operating Income | 594.2 | 70.4 | 66.1 | | N/M | | N/M |
| Investment Security Gains (Losses), net | (73.9) | - | - | | N/M | | N/M |
| Total Other Noninterest Income | $673.0 | $210.2 | $156.3 | | N/M | | N/M |
Beginning in Q1 2026, Treasury Management Fees are included within Other Operating Income. Prior periods have been revised.
Foreign Exchange Trading Income increased compared to the prior-year quarter primarily due to higher trading volumes driven by client activity and market volatility, particularly in Asia-Pacific markets.
Security Commissions and Trading Income increased compared to the prior-year quarter primarily due to higher volumes as a result of market volatility and growth in outsourced trading activity.
Other Operating Income increased sequentially and compared to the prior-year quarter primarily due to a $525.4 million gain related to Northern Trust’s participation in the second Visa, Inc. Exchange Offer.
Investment Security Gains (Losses), net reflects a $73.9 million loss on the sale of available for sale debt securities in the current quarter related to a repositioning of the securities portfolio.
NORTHERN TRUST CORPORATION SECOND QUARTER 2026 RESULTS
| | | | % Change Q2 2026 vs. |
|---|
| NET INTEREST INCOME | | | | | |
| ($ In Millions) | Q2 2026 | Q1 2026 | Q2 2025 | Q1 2026 | Q2 2025 |
| Net Interest Income | | | | | |
| Interest Income (FTE*) | $2,196.9 | $2,241.6 | $2,217.5 | (2)% | (1)% |
| Interest Expense | 1,513.8 | 1,580.0 | 1,602.3 | (4) | (6) |
| Net Interest Income (FTE*) | $683.1 | $661.6 | $615.2 | 3% | 11% |
| Average Earning Assets | $151,291.2 | $153,677.4 | $145,822.0 | (2)% | 4% |
| Net Interest Margin (FTE*) | 1.81% | 1.75% | 1.69% | 6bps | 12bps |
For further detail on average earning assets, refer to the Average Balance Sheet on pg. 12.
(*) Interest income, net interest income and net interest margin presented on an FTE basis are non-GAAP financial measures. Refer to the Reconciliation to Fully Taxable Equivalent section for further detail.
bps - basis points
Net Interest Income on an FTE basis increased sequentially primarily driven by lower funding costs and a favorable deposit mix, partially offset by lower deposits. Net Interest Income on an FTE basis increased compared to the prior-year quarter primarily driven by higher deposits and lower funding costs.
The Net Interest Margin on an FTE basis increased sequentially and compared to the prior-year quarter primarily driven by lower funding costs.
| As of and for the three-months ended, | % Change June 30, 2026 vs. |
|---|
| PROVISION FOR CREDIT LOSSES | | | | | |
| ($ In Millions) | June 30, 2026 | March 31, 2026 | June 30, 2025 | March 31, 2026 | June 30, 2025 |
| Allowance for Credit Losses | | | | | |
| Beginning Allowance for Credit Losses | $195.2 | $198.3 | $207.3 | (2)% | | (6)% | |
| Provision for Credit Losses | (5.3) | (3.0) | 16.5 | | N/M | | N/M |
| Net Recoveries (Charge-offs) | 0.4 | (0.1) | 0.3 | | N/M | | N/M |
| Ending Allowance for Credit Losses | $190.3 | $195.2 | $224.1 | (3)% | | (15)% | |
| Allowance assigned to: | | | | | |
| Loans | $160.9 | $161.1 | $180.5 | - % | | (11)% | |
| Undrawn Loan Commitments and Standby Letters of Credit | 21.9 | 25.5 | 34.7 | (14) | | (37) | |
| Debt Securities and Other Financial Assets | 7.5 | 8.6 | 8.9 | (12) | | (15) | |
| Ending Allowance for Credit Losses | $190.3 | $195.2 | $224.1 | (3)% | | (15)% | |
Q2 2026
The negative provision in the current quarter resulted from a decrease in the collective reserve, partially offset by an increase in individual reserves. The decrease in the collective reserve was primarily driven by a strengthening macroeconomic outlook and improved credit quality for the Commercial Real Estate (CRE) and Commercial and Institutional (C&I) portfolios. The increase in the individual reserve was driven by a small number of non-performing loans.
Q1 2026
The negative provision in the prior quarter resulted from a decrease in the collective reserve, partially offset by an increase in individual reserves. The decrease in the collective reserve was primarily driven by improved credit quality of the C&I portfolio, partially offset by increased macroeconomic uncertainty. The increase in the individual reserve was driven by a small number of non-performing loans.
Q2 2025
The provision in the prior-year quarter resulted from an increase in specific reserves related to a small number of non-performing loans and an increase in the collective reserve resulting primarily from a worsening macroeconomic outlook, partially offset by sector and portfolio-specific improvements within the CRE portfolio.
NORTHERN TRUST CORPORATION SECOND QUARTER 2026 RESULTS
| | | | % Change Q2 2026 vs. |
|---|
| NONINTEREST EXPENSE | | | | | |
| ($ In Millions) | Q2 2026 | Q1 2026 | Q2 2025 | Q1 2026 | Q2 2025 |
| Noninterest Expense | | | | | |
| Compensation and Benefits | $868.0 | $822.2 | $732.5 | 6% | 18% |
| Outside Services | 246.3 | 236.7 | 247.0 | 4 | - |
| Equipment and Software | 378.5 | 308.1 | 293.7 | 23 | 29 |
| Occupancy | 53.5 | 51.3 | 52.5 | 4 | 2 |
| Other Operating Expense | 92.3 | 89.7 | 90.9 | 3 | 2 |
| Total Noninterest Expense | $1,638.6 | $1,508.0 | $1,416.6 | 9% | 16% |
| End of Period Full-Time Equivalent Employees | 23,600 | 23,600 | 23,400 | - % | 1% |
Compensation and Benefits expense increased sequentially primarily due to the current quarter severance charge of $51.0 million, a $33.1 million one-time equity grant to eligible employees and annual base pay adjustments, partially offset by seasonal equity incentive awards granted to retirement-eligible employees in the prior quarter. Compensation and Benefits expense increased compared to the prior-year quarter primarily due to the current quarter severance charge of $51.0 million, higher incentives, a $33.1 million one-time equity grant to eligible employees, annual base pay adjustments and an increase in pension expense.
Equipment and Software expense increased sequentially primarily due to software dispositions of $61.5 million in the current quarter and higher software support expenses. Equipment and Software expense increased compared to the prior-year quarter primarily due to software dispositions of $61.5 million in the current quarter, higher software support and higher amortization.
| | | | % Change Q2 2026 vs. |
|---|
| PROVISION FOR INCOME TAXES | | | | | |
| ($ In Millions) | Q2 2026 | Q1 2026 | Q2 2025 | Q1 2026 | Q2 2025 |
| Net Income | | | | | |
| Income before Income Taxes | $1,064.7 | $700.6 | $564.8 | | 52% | | 89% |
| Provision for Income Taxes | 272.5 | 175.1 | 143.5 | | 56 | | 90 |
| Net Income | $792.2 | $525.5 | $421.3 | | 51% | | 88% |
| Effective Tax Rate | 25.6% | 25.0% | 25.4% | (60)bps | | (20)bps | |
bps - basis points
The effective tax rate increased sequentially primarily due to lower tax benefits associated with share-based compensation, partially offset by discrete tax benefits from the resolution of state income tax audits.
CAPITAL ACTIONS
The Corporation returned $499.4 million to common shareholders in the current quarter through dividends and the repurchase of shares. During the current quarter, the Corporation declared cash dividends totaling $148.8 million to common stockholders and maintained its quarterly cash dividend of $0.80 per share on common stock from the previous quarter. The Corporation repurchased 2,129,047 shares of common stock, including 4,861 withheld to satisfy tax withholding obligations related to share-based compensation, at a total cost of $350.6 million ($164.65 average price per share). The Corporation also declared cash dividends totaling $4.7 million to preferred stockholders during the current quarter.
NORTHERN TRUST CORPORATION SECOND QUARTER 2026 RESULTS
REGULATORY CAPITAL
The capital ratios of Northern Trust Corporation and its principal subsidiary, The Northern Trust Company, remained strong at June 30, 2026, exceeding the minimum requirements for classification as “well-capitalized” under applicable U.S. regulatory requirements.
| ($ In Millions) | Standardized Approach | Advanced Approach | | |
| Northern Trust Corporation | June 30, 2026* | March 31, 2026 | June 30, 2025 | June 30, 2026* | March 31, 2026 | June 30, 2025 | Well-Capitalized Ratios | Minimum Capital Ratios |
| Regulatory Capital | | | | | | | | |
| Common Equity Tier 1 Capital | | $11,605.6 | | $11,173.5 | | $11,108.2 | | $11,605.6 | | $11,173.5 | | $11,108.2 | | |
| Tier 1 Capital | | 12,418.7 | | 11,995.5 | | 11,938.5 | | 12,418.7 | | 11,995.5 | | 11,938.5 | | |
| Total Capital | | 14,706.5 | | 14,288.1 | | 13,508.9 | | 14,516.2 | | 14,092.9 | | 13,285.6 | | |
| Assets | | | | | | | | |
| Risk-Weighted Assets | | $95,157.3 | | $93,150.8 | | $91,385.4 | | $81,119.6 | | $78,198.0 | | $74,176.8 | | |
| Average Adjusted Total Assets | | 162,601.3 | | 164,381.7 | | 156,854.5 | | 162,601.3 | | 164,381.7 | | 156,854.5 | | |
| Supplementary Leverage Exposure | | N/A | | N/A | | N/A | | 144,498.8 | | 141,713.4 | | 131,379.4 | | |
| Capital Ratios | | | | | | | | |
| Common Equity Tier 1 Capital | 12.2% | | 12.0% | | 12.2% | | 14.3% | | 14.3% | | 15.0% | | N/A | 4.5% |
| Tier 1 Capital | 13.1 | | 12.9 | | 13.1 | | 15.3 | | 15.3 | | 16.1 | | 6.0 | 6.0 |
| Total Capital | 15.5 | | 15.3 | | 14.8 | | 17.9 | | 18.0 | | 17.9 | | 10.0 | 8.0 |
| Tier 1 Leverage | 7.6 | | 7.3 | | 7.6 | | 7.6 | | 7.3 | | 7.6 | | N/A | 4.0 |
| Supplementary Leverage | | N/A | | N/A | | N/A | 8.6 | | 8.5 | | 9.1 | | N/A | 3.0 |
| ($ In Millions) | Standardized Approach | Advanced Approach | | |
| The Northern Trust Company | June 30, 2026* | March 31, 2026 | June 30, 2025 | June 30, 2026* | March 31, 2026 | June 30, 2025 | Well-Capitalized Ratios | Minimum Capital Ratios |
| Regulatory Capital | | | | | | | | |
| Common Equity Tier 1 Capital | | $11,084.4 | | $10,669.2 | | $10,278.6 | | $11,084.4 | | $10,669.2 | | $10,278.6 | | |
| Tier 1 Capital | | 11,084.4 | | 10,669.2 | | 10,278.6 | | 11,084.4 | | 10,669.2 | | 10,278.6 | | |
| Total Capital | | 13,024.6 | | 12,614.4 | | 11,501.8 | | 12,834.4 | | 12,419.2 | | 11,278.6 | | |
| Assets | | | | | | | | |
| Risk-Weighted Assets | | $93,697.4 | | $91,741.9 | | $90,205.6 | | $78,677.0 | | $75,858.7 | | $72,017.5 | | |
| Average Adjusted Total Assets | | 162,049.4 | | 163,772.4 | | 156,405.8 | | 162,049.4 | | 163,772.4 | | 156,405.8 | | |
| Supplementary Leverage Exposure | | N/A | | N/A | | N/A | | 143,562.4 | | 140,752.7 | | 130,930.4 | | |
| Capital Ratios | | | | | | | | |
| Common Equity Tier 1 Capital | 11.8% | | 11.6% | | 11.4% | | 14.1% | | 14.1% | | 14.3% | | 6.5% | 4.5% |
| Tier 1 Capital | 11.8 | | 11.6 | | 11.4 | | 14.1 | | 14.1 | | 14.3 | | 8.0 | 6.0 |
| Total Capital | 13.9 | | 13.7 | | 12.8 | | 16.3 | | 16.4 | | 15.7 | | 10.0 | 8.0 |
| Tier 1 Leverage | 6.8 | | 6.5 | | 6.6 | | 6.8 | | 6.5 | | 6.6 | | 5.0 | 4.0 |
| Supplementary Leverage | | N/A | | N/A | | N/A | 7.7 | | 7.6 | | 7.9 | | 3.0 | 3.0 |
(*) Regulatory Capital, Risk-Weighted Assets and resulting ratios for the current quarter are considered preliminary until the Form 10-Q is filed with the Securities and Exchange Commission.
NORTHERN TRUST CORPORATION SECOND QUARTER 2026 RESULTS
RECONCILIATION TO FULLY TAXABLE EQUIVALENT
The following table presents a reconciliation of interest income, net interest income, net interest margin, total revenue, income before taxes, and pre-tax margin prepared in accordance with GAAP to such measures on an FTE non-GAAP basis. Management believes this presentation facilitates the analysis of asset yields and provides a clearer indication of these financial measures for comparative purposes. When adjusted to an FTE basis, yields on taxable, nontaxable and partially taxable assets are comparable; however, the adjustment to an FTE basis has no impact on net income.
| QUARTERS |
|---|
| 2026 | 2025 |
|---|
| ($ in Millions) | SECOND | FIRST | FOURTH | THIRD | SECOND |
| Net Interest Income | | | | | |
| Interest Income - GAAP | $2,189.3 | $2,234.0 | | $2,126.6 | $2,144.3 | $2,212.8 | |
| Add: FTE Adjustment | 7.6 | 7.6 | | 12.7 | 5.5 | 4.7 | |
| Interest Income (FTE) - Non-GAAP | $2,196.9 | $2,241.6 | | $2,139.3 | $2,149.8 | $2,217.5 | |
| Net Interest Income - GAAP | $675.5 | $654.0 | | $641.6 | $590.8 | $610.5 | |
| Add: FTE Adjustment | 7.6 | 7.6 | | 12.7 | 5.5 | 4.7 | |
| Net Interest Income (FTE) - Non-GAAP | $683.1 | $661.6 | | $654.3 | $596.3 | $615.2 | |
| Net Interest Margin - GAAP | 1.79% | 1.73% | | 1.78% | 1.68% | 1.68% | |
| Net Interest Margin (FTE) - Non-GAAP | 1.81% | 1.75% | | 1.81% | 1.70% | 1.69% | |
| Total Revenue | | | | | |
| Total Revenue - GAAP | $2,698.0 | $2,205.6 | | $2,123.1 | $2,025.4 | $1,997.9 | |
| Add: FTE Adjustment | 7.6 | 7.6 | | 12.7 | 5.5 | 4.7 | |
| Total Revenue (FTE) - Non-GAAP | $2,705.6 | $2,213.2 | | $2,135.8 | $2,030.9 | $2,002.6 | |
| Income before Income Taxes | | | | | |
| Income before Income Taxes - GAAP | $1,064.7 | $700.6 | | $633.8 | $619.5 | $564.8 | |
| Add: FTE Adjustment | 7.6 | 7.6 | | 12.7 | 5.5 | 4.7 | |
| Income before Income Taxes (FTE) - Non-GAAP | $1,072.3 | $708.2 | | $646.5 | $625.0 | $569.5 | |
| Pre-Tax Margin - GAAP | 39.5% | 31.8% | | 29.9% | 30.6% | 28.3% | |
| Pre-Tax Margin (FTE) - Non-GAAP | 39.6% | 32.0% | | 30.3% | 30.8% | 28.4% | |
Net Interest Margin is calculated by dividing annualized net interest income by average interest-earning assets.
Pre-Tax Margin is calculated by dividing income before income taxes by total revenue.
NORTHERN TRUST CORPORATION SECOND QUARTER 2026 RESULTS
FORWARD LOOKING STATEMENTS
Forward-looking statements notice
This release may include statements which constitute “forward-looking statements” within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are identified typically by words or phrases such as “believe,” “expect,” “anticipate,” “intend,” “estimate,” “project,” “likely,” “plan,” “goal,” “target,” “strategy,” and similar expressions or future or conditional verbs such as “may,” “will,” “should,” “would,” and “could.” Forward-looking statements include statements, other than those related to historical facts, that relate to Northern Trust’s financial results and outlook, capital adequacy, dividend policy and share repurchase program, accounting estimates and assumptions, credit quality including allowance levels, future pension plan contributions, effective tax rate, anticipated expense levels, contingent liabilities, acquisitions, strategies, market and industry trends, and expectations regarding the impact of accounting pronouncements and legislation. These statements are based on Northern Trust’s current beliefs and expectations of future events or future results, and involve risks and uncertainties that are difficult to predict and subject to change. These statements are also based on assumptions about many important factors, including the factors discussed in Northern Trust’s most recent annual report on Form 10-K and other filings with the U.S. Securities and Exchange Commission, all of which are available on Northern Trust’s website. We caution you not to place undue reliance on any forward-looking statement as actual results may differ materially from those expressed or implied by forward-looking statements. Northern Trust assumes no obligation to update its forward-looking statements.
WEBCAST OF SECOND QUARTER EARNINGS CONFERENCE CALL
Northern Trust’s second quarter earnings conference call will be webcast on July 22, 2026.
The live call will be conducted at 8:00 a.m. CT and is accessible on Northern Trust’s website at:
https://www.northerntrust.com/about-us/investor-relations
A recording of the live call will be available on Northern Trust’s website following the live event, for approximately four weeks. Participants will need Windows Media or Adobe Flash software. This earnings release can also be accessed at Northern Trust’s website.
About Northern Trust
Northern Trust Corporation (Nasdaq: NTRS) is a leading provider of wealth management, asset servicing, asset management and banking to corporations, institutions, affluent families and individuals. Founded in Chicago in 1889, Northern Trust has a global presence with offices in 24 U.S. states and Washington, D.C., and across 22 locations in Canada, Europe, the Middle East and the Asia-Pacific region. As of June 30, 2026, Northern Trust had assets under custody/administration of US$20.0 trillion, and assets under management of US$2.0 trillion. For more than 135 years, Northern Trust has earned distinction as an industry leader for exceptional service, financial expertise, integrity and innovation. Visit us on northerntrust.com. Follow us on Instagram @northerntrustcompany or Northern Trust on LinkedIn.
Northern Trust Corporation, Head Office: 50 South La Salle Street, Chicago, Illinois 60603 U.S.A., incorporated with limited liability in the U.S. Global legal and regulatory information can be found at https://www.northerntrust.com/terms-and-conditions.
NORTHERN TRUST CORPORATION
| STATEMENT OF INCOME DATA | | | | % Change |
| ($ In Millions Except Per Share Data) | | | | Q2 2026 vs. |
| Q2 2026 | Q1 2026 | Q2 2025 | Q1 2026 | Q2 2025 |
| Noninterest Income | | | | | |
| Trust, Investment and Other Servicing Fees | $1,349.5 | $1,341.4 | | $1,231.1 | | 1% | | 10% | |
| Foreign Exchange Trading Income | 97.1 | 87.7 | | 50.6 | | 11 | | 92 | |
| Security Commissions and Trading Income | 55.6 | 52.1 | | 39.6 | | 7 | | 40 | |
| Other Operating Income | 594.2 | 70.4 | | 66.1 | | | N/M | | N/M |
| Investment Security Gains (Losses), net | (73.9) | - | | - | | | N/M | | N/M |
| Total Noninterest Income | 2,022.5 | 1,551.6 | | 1,387.4 | | 30 | | 46 | |
| Net Interest Income | | | | | |
| Interest Income | 2,189.3 | 2,234.0 | | 2,212.8 | | (2) | | (1) | |
| Interest Expense | 1,513.8 | 1,580.0 | | 1,602.3 | | (4) | | (6) | |
| Net Interest Income | 675.5 | 654.0 | | 610.5 | | 3 | | 11 | |
| Total Revenue | 2,698.0 | 2,205.6 | | 1,997.9 | | 22 | | 35 | |
| Provision for Credit Losses | (5.3) | (3.0) | | 16.5 | | | N/M | | N/M |
| Noninterest Expense | | | | | |
| Compensation and Benefits | 868.0 | 822.2 | | 732.5 | | 6 | | 18 | |
| Outside Services | 246.3 | 236.7 | | 247.0 | | 4 | | - | |
| Equipment and Software | 378.5 | 308.1 | | 293.7 | | 23 | | 29 | |
| Occupancy | 53.5 | 51.3 | | 52.5 | | 4 | | 2 | |
| Other Operating Expense | 92.3 | 89.7 | | 90.9 | | 3 | | 2 | |
| Total Noninterest Expense | 1,638.6 | 1,508.0 | | 1,416.6 | | 9 | | 16 | |
| Income before Income Taxes | 1,064.7 | 700.6 | | 564.8 | | 52 | | 89 | |
| Provision for Income Taxes | 272.5 | 175.1 | | 143.5 | | 56 | | 90 | |
| NET INCOME | $792.2 | $525.5 | | $421.3 | | 51% | | 88% | |
| Preferred Stock Dividends | 4.7 | 16.2 | | 4.7 | | | (71) | - | |
| NET INCOME APPLICABLE TO COMMON STOCK | $787.5 | $509.3 | | $416.6 | | 55% | | 89% | |
| Earnings Allocated to Participating Securities | 5.3 | 4.5 | | 3.8 | | 16 | | 38 | |
| Earnings Allocated to Common Shares | $782.2 | $504.7 | | $412.8 | | 55% | | 90% | |
| Per Common Share | | | | | |
| Net Income | | | | | |
| Basic | $4.25 | $2.72 | | $2.14 | | 56% | | 98% | |
| Diluted | 4.23 | 2.71 | | 2.13 | | 56 | | 98 | |
| Average Common Equity | $12,209.7 | $11,876.3 | | $11,727.2 | | 3% | | 4% | |
| Return on Average Common Equity | 25.9% | 17.4% | | 14.2% | | | |
| Cash Dividends Declared per Common Share | $0.80 | $0.80 | | $0.75 | | - % | | 7% | |
| Average Common Shares Outstanding (000s) | | | | | |
| Basic | 183,994 | | 185,499 | | 192,752 | (1)% | | (5)% | |
| Diluted | 184,890 | | 186,539 | | 193,375 | (1) | | (4) | |
| Common Shares Outstanding (EOP) (000s) | 182,956 | | 185,047 | | 191,233 | (1) | | (4) | |
Percentage calculations are based on actual balances rather than the rounded amounts presented in the table above.
Beginning in Q1 2026, Treasury Management Fees are included within Other Operating Income. Prior periods have been restated.
EOP - End of period
NORTHERN TRUST CORPORATION
| 2026 | 2025 | % Change |
|---|
| STATEMENT OF INCOME DATA | | | |
| ($ In Millions Except Per Share Data) | SIX MONTHS | |
| Noninterest Income | | | |
| Trust, Investment and Other Servicing Fees | $2,690.9 | | $2,444.9 | | 10% | |
| Foreign Exchange Trading Income | 184.8 | | 109.3 | | 69 | |
| Security Commissions and Trading Income | 107.7 | | 78.7 | | 37 | |
| Other Operating Income | 664.7 | | 126.4 | | | N/M |
| Investment Security Gains (Losses), net | (73.9) | | - | | | N/M |
| Total Noninterest Income | 3,574.2 | | 2,759.3 | | 30 | |
| Net Interest Income | | | |
| Interest Income | 4,423.4 | | 4,353.7 | | 2 | |
| Interest Expense | 3,093.9 | | 3,175.1 | | (3) | |
| Net Interest Income | 1,329.5 | | 1,178.6 | | 13 | |
| Total Revenue | 4,903.7 | | 3,937.9 | | 25 | |
| Provision for Credit Losses | (8.3) | | 17.5 | | | N/M |
| Noninterest Expense | | | |
| Compensation and Benefits | 1,690.2 | | 1,486.6 | | 14 | |
| Outside Services | 483.0 | | 492.2 | | (2) | |
| Equipment and Software | 686.6 | | 574.6 | | 19 | |
| Occupancy | 104.8 | | 105.9 | | (1) | |
| Other Operating Expense | 182.0 | | 174.9 | | 4 | |
| Total Noninterest Expense | 3,146.6 | | 2,834.2 | | 11 | |
| Income before Income Taxes | 1,765.4 | | 1,086.2 | | 63 | |
| Provision for Income Taxes | 447.6 | | 272.9 | | 64 | |
| NET INCOME | $1,317.8 | | $813.3 | | 62% | |
| Preferred Stock Dividends | 20.9 | | 20.9 | | - | |
| NET INCOME APPLICABLE TO COMMON STOCK | $1,296.9 | | $792.4 | | 64% | |
| Earnings Allocated to Participating Securities | 9.8 | | 7.4 | | 33 | |
| Earnings Allocated to Common Shares | $1,287.1 | | $785.0 | | 64% | |
| Per Common Share | | | |
| Net Income | | | |
| Basic | $6.97 | | $4.05 | | 72% | |
| Diluted | 6.93 | | 4.03 | | 72 | |
| Average Common Equity | $12,043.9 | | $11,723.2 | | 3% | |
| Return on Average Common Equity | 21.7% | | 13.6% | | |
| Cash Dividends Declared per Common Share | $1.60 | | $1.50 | | 7% | |
| Average Common Shares Outstanding (000s) | | | |
| Basic | 184,742 | | 193,966 | | (5)% | |
| Diluted | 185,710 | | 194,742 | | (5) | |
| Common Shares Outstanding (EOP) (000s) | 182,956 | | 191,233 | | (4) | |
Percentage calculations are based on actual balances rather than the rounded amounts presented in the table above.
EOP - End of period
NORTHERN TRUST CORPORATION
| | | | June 30, 2026 vs. |
|---|
| June 30, 2026 | March 31, 2026 | June 30, 2025 | March 31, 2026 | June 30, 2025 |
|---|
| BALANCE SHEET | | | | | |
| ($ In Millions) | | | | % Change |
| Assets | | | | | |
| Federal Reserve and Other Central Bank Deposits | $50,556.4 | $41,757.3 | $52,265.5 | 21% | | (3)% | |
| Interest-Bearing Due from and Deposits with Banks | 6,160.0 | 6,343.0 | 6,800.9 | (3) | | (9) | |
| Federal Funds Sold and Securities Purchased under Agreements to Resell | 426.5 | 1,678.9 | 921.9 | | (75) | | (54) |
| Debt Securities | | | | | |
| Available for Sale | 38,123.1 | 36,913.2 | 32,250.4 | 3 | | 18 | |
| Held to Maturity | 23,492.1 | 24,286.2 | 21,400.8 | (3) | | 10 | |
| Total Debt Securities | 61,615.2 | 61,199.4 | 53,651.2 | 1 | | 15 | |
| Loans | 43,822.0 | 42,505.5 | 43,323.4 | 3 | | 1 | |
| Other Interest-Earning Assets | 3,499.3 | 8,415.9 | 2,522.6 | (58) | | 39 | |
| Total Earning Assets | 166,079.4 | 161,900.0 | 159,485.5 | 3 | | 4 | |
| Allowance for Credit Losses | (168.4) | (169.7) | (188.5) | (1) | | (11) | |
| Cash and Due from Banks and Other Central Bank Deposits | 1,201.7 | 1,407.7 | 2,035.1 | (15) | | (41) | |
| Buildings and Equipment | 447.6 | 447.5 | 467.7 | - | | (4) | |
| Goodwill | 709.6 | 709.5 | 714.6 | - | | (1) | |
| Other Assets | 11,027.3 | 10,279.3 | 9,369.2 | 7 | | 18 | |
| Total Assets | $179,297.2 | $174,574.3 | $171,883.6 | 3% | | 4% | |
| Liabilities and Stockholders’ Equity | | | | | |
| Interest-Bearing Deposits | | | | | |
| Savings, Money Market and Other | $34,419.1 | $29,309.7 | $27,965.1 | 17% | | 23% | |
| Savings Certificates and Other Time | 4,686.9 | 5,238.4 | 6,742.5 | (11) | | (30) | |
| Non-U.S. Offices - Interest-Bearing | 78,274.0 | 75,850.7 | 77,206.9 | 3 | | 1 | |
| Total Interest-Bearing Deposits | 117,380.0 | 110,398.8 | 111,914.5 | 6 | | 5 | |
| Federal Funds Purchased | 1,568.9 | 1,974.3 | 2,388.5 | (21) | | (34) | |
| Securities Sold under Agreements to Repurchase | 175.6 | 330.5 | 841.4 | (47) | | (79) | |
| Other Borrowings | 8,627.2 | 7,839.5 | 6,532.9 | 10 | | 32 | |
| Senior Notes | 3,331.2 | 3,345.5 | 2,835.2 | - | | 17 | |
| Long-Term Debt | 2,073.3 | 2,881.6 | 4,089.8 | (28) | | (49) | |
| Total Interest-Bearing Liabilities | 133,156.2 | 126,770.2 | 128,602.3 | 5 | | 4 | |
| Demand and Other Noninterest-Bearing Deposits | 28,200.0 | 29,299.4 | 25,139.2 | (4) | | 12 | |
| Other Liabilities | 4,539.4 | 5,517.4 | 5,275.6 | (18) | | (14) | |
| Total Liabilities | 165,895.6 | 161,587.0 | 159,017.1 | 3 | | 4 | |
| Common Equity | | | | | |
| Common Equity, excluding Accumulated Other Comprehensive Income | 13,068.4 | 12,739.0 | 12,680.8 | 3 | | 3 | |
| Accumulated Other Comprehensive Income (Loss) | (551.7) | (636.6) | (699.2) | (13) | | (21) | |
| Total Common Equity | 12,516.7 | 12,102.4 | 11,981.6 | 3 | | 4 | |
| Preferred Equity | 884.9 | 884.9 | 884.9 | - | | - | |
| Total Equity | 13,401.6 | 12,987.3 | 12,866.5 | 3 | | 4 | |
| Total Liabilities and Stockholders’ Equity | $179,297.2 | $174,574.3 | $171,883.6 | 3% | | 4% | |
Percentage calculations are based on actual balances rather than the rounded amounts presented in the table above.
Interest-Bearing Due from and Deposits with Banks includes the interest-bearing component of Cash and Due from Banks and Interest-Bearing Deposits with Banks as presented on the consolidated balance sheets in our periodic filings with the SEC.
Other Interest-Earning Assets include certain community development investments, collateral deposits with certain securities depositories and clearing houses, Federal Home Loan Bank and Federal Reserve stock, and money market investments which are classified in Other Assets on the consolidated balance sheets in our periodic filings with the SEC.
Cash and Due from Banks and Other Central Bank Deposits includes the noninterest-bearing component of Federal Reserve and Other Central Bank Deposits as presented on the consolidated balance sheets in our periodic filings with the SEC.
Other Borrowings primarily includes advances from the Federal Home Loan Bank of Chicago.
NORTHERN TRUST CORPORATION
| | | | Q2 2026 vs. |
|---|
| Q2 2026 | Q1 2026 | Q2 2025 | Q1 2026 | Q2 2025 |
|---|
| AVERAGE BALANCE SHEET | | | | | |
| ($ In Millions) | | | | % Change |
| Assets | | | | | |
| Federal Reserve and Other Central Bank Deposits | $38,322.9 | $42,554.7 | $43,655.3 | (10)% | (12)% | |
| Interest-Bearing Due from and Deposits with Banks | 6,304.2 | 6,014.6 | 5,321.5 | 5 | 18 | |
| Federal Funds Sold and Securities Purchased under Agreements to Resell | 521.9 | 1,186.8 | 713.2 | (56) | | (27) |
| Debt Securities | | | | | |
| Available for Sale | 37,775.8 | 35,780.4 | 31,415.0 | 6 | 20 | |
| Held to Maturity | 23,604.2 | 23,883.3 | 20,895.9 | (1) | 13 | |
| Total Debt Securities | 61,380.0 | 59,663.7 | 52,310.9 | 3 | 17 | |
| Loans | 41,567.6 | 40,894.3 | 41,158.0 | 2 | 1 | |
| Other Interest-Earning Assets | 3,194.6 | 3,363.3 | 2,663.1 | (5) | 20 | |
| Total Earning Assets | 151,291.2 | 153,677.4 | 145,822.0 | (2) | 4 | |
| Allowance for Credit Losses | (169.9) | (175.1) | (174.9) | (3) | (3) | |
| Cash and Due from Banks and Other Central Bank Deposits | 1,313.9 | 1,137.0 | 1,069.8 | 16 | 23 | |
| Buildings and Equipment | 453.1 | 459.8 | 479.3 | (1) | (5) | |
| Goodwill | 712.5 | 713.5 | 709.1 | - | - | |
| Other Assets | 9,975.0 | 9,484.7 | 9,813.9 | 5 | 2 | |
| Total Assets | $163,575.8 | $165,297.3 | $157,719.2 | (1)% | 4% | |
| Liabilities and Stockholders’ Equity | | | | | |
| Interest-Bearing Deposits | | | | | |
| Savings, Money Market and Other | $32,356.8 | $29,244.9 | $28,797.4 | 11% | 12% | |
| Savings Certificates and Other Time | 5,059.1 | 5,785.2 | 6,652.0 | (13) | (24) | |
| Non-U.S. Offices - Interest-Bearing | 70,929.3 | 75,261.9 | 70,158.0 | (6) | 1 | |
| Total Interest-Bearing Deposits | 108,345.2 | 110,292.0 | 105,607.4 | (2) | 3 | |
| Federal Funds Purchased | 2,338.3 | 2,576.7 | 2,469.0 | (9) | (5) | |
| Securities Sold under Agreements to Repurchase | 677.2 | 483.8 | 584.6 | 40 | 16 | |
| Other Borrowings | 8,255.7 | 7,638.3 | 7,008.2 | 8 | 18 | |
| Senior Notes | 3,335.9 | 3,352.8 | 2,818.2 | (1) | 18 | |
| Long-Term Debt | 2,856.9 | 3,472.7 | 4,087.8 | (18) | (30) | |
| Total Interest-Bearing Liabilities | 125,809.2 | 127,816.3 | 122,575.2 | (2) | 3 | |
| Demand and Other Noninterest-Bearing Deposits | 19,500.5 | 18,739.8 | 16,770.4 | 4 | 16 | |
| Other Liabilities | 5,171.5 | 5,980.0 | 5,761.5 | (14) | (10) | |
| Total Liabilities | 150,481.2 | 152,536.1 | 145,107.1 | (1) | 4 | |
| Common Equity | | | | | |
| Common Equity, excluding Accumulated Other Comprehensive Income | 12,778.5 | 12,443.4 | 12,500.4 | 3 | 2 | |
| Accumulated Other Comprehensive Income (Loss) | (568.8) | (567.1) | (773.2) | - | (26) | |
| Total Common Equity | 12,209.7 | 11,876.3 | 11,727.2 | 3 | 4 | |
| Preferred Equity | 884.9 | 884.9 | 884.9 | - | - | |
| Total Equity | 13,094.6 | 12,761.2 | 12,612.1 | 3 | 4 | |
| Total Liabilities and Stockholders’ Equity | $163,575.8 | $165,297.3 | $157,719.2 | (1)% | 4% | |
Percentage calculations are based on actual balances rather than the rounded amounts presented in the table above.
Interest-Bearing Due from and Deposits with Banks includes the interest-bearing component of Cash and Due from Banks and Interest-Bearing Deposits with Banks as presented on the consolidated balance sheets in our periodic filings with the SEC.
Other Interest-Earning Assets include certain community development investments, collateral deposits with certain securities depositories and clearing houses, Federal Home Loan Bank and Federal Reserve stock, and money market investments which are classified in Other Assets on the consolidated balance sheets in our periodic filings with the SEC.
Cash and Due from Banks and Other Central Bank Deposits includes the noninterest-bearing component of Federal Reserve and Other Central Bank Deposits as presented on the consolidated balance sheets in our periodic filings with the SEC.
Other Borrowings primarily includes advances from the Federal Home Loan Bank of Chicago.
NORTHERN TRUST CORPORATION
| QUARTERLY TREND DATA | QUARTERS |
| ($ In Millions Except Per Share Data) | | | 2026 | | | | 2025 |
| SECOND | FIRST | FOURTH | THIRD | SECOND |
| Net Income Summary | | | | | |
| Trust, Investment and Other Servicing Fees | $1,349.5 | $1,341.4 | | $1,307.4 | $1,265.5 | $1,231.1 | |
| Other Noninterest Income | 673.0 | 210.2 | | 174.1 | 169.1 | 156.3 | |
| Net Interest Income | 675.5 | 654.0 | | 641.6 | 590.8 | 610.5 | |
| Total Revenue | 2,698.0 | 2,205.6 | | 2,123.1 | 2,025.4 | 1,997.9 | |
| Provision for Credit Losses | (5.3) | (3.0) | | (8.0) | (17.0) | 16.5 | |
| Noninterest Expense | 1,638.6 | 1,508.0 | | 1,497.3 | 1,422.9 | 1,416.6 | |
| Income before Income Taxes | 1,064.7 | 700.6 | | 633.8 | 619.5 | 564.8 | |
| Provision for Income Taxes | 272.5 | 175.1 | | 167.8 | 161.9 | 143.5 | |
| Net Income | $792.2 | $525.5 | | $466.0 | $457.6 | $421.3 | |
| Per Common Share | | | | | |
| Net Income - Basic | $4.25 | $2.72 | | $2.44 | $2.30 | $2.14 | |
| - Diluted | 4.23 | 2.71 | | 2.42 | 2.29 | 2.13 | |
| Cash Dividends Declared per Common Share | 0.80 | 0.80 | | 0.80 | 0.80 | 0.75 | |
| Book Value (EOP) | 68.41 | 65.40 | | 64.79 | 63.83 | 62.65 | |
| Market Value (EOP) | 173.84 | 139.57 | | 136.59 | 134.60 | 126.79 | |
| Financial Ratios | | | | | |
| Return on Average Common Equity | 25.9% | 17.4% | | 15.4% | 14.8% | 14.2% | |
| Net Interest Margin (GAAP) | 1.79 | 1.73 | | 1.78 | 1.68 | 1.68 | |
| Net Interest Margin (FTE*) | 1.81 | 1.75 | | 1.81 | 1.70 | 1.69 | |
| Assets Under Custody / Administration ($ in Billions) - End Of Period | | | | | |
| Asset Servicing | $18,635.2 | $17,288.6 | | $17,418.4 | $16,990.4 | $16,864.9 | |
| Wealth Management | 1,365.0 | 1,265.3 | | 1,297.7 | 1,257.2 | 1,203.4 | |
| Total Assets Under Custody / Administration | $20,000.2 | $18,553.9 | | $18,716.1 | $18,247.6 | $18,068.3 | |
| Assets Under Custody ($ In Billions) - End Of Period | | | | | |
| Asset Servicing | $14,587.7 | $13,521.1 | | $13,604.8 | $13,195.0 | $13,056.5 | |
| Wealth Management | 1,351.1 | 1,254.2 | | 1,284.3 | 1,244.1 | 1,187.2 | |
| Total Assets Under Custody | $15,938.8 | $14,775.3 | | $14,889.1 | $14,439.1 | $14,243.7 | |
| Assets Under Management ($ In Billions) - End Of Period | | | | | |
| Asset Servicing | $1,436.0 | $1,287.3 | | $1,296.0 | $1,280.1 | $1,229.2 | |
| Wealth Management | 533.9 | 497.6 | | 507.2 | 492.6 | 468.5 | |
| Total Assets Under Management | $1,969.9 | $1,784.9 | | $1,803.2 | $1,772.7 | $1,697.7 | |
| Asset Quality ($ In Millions) - End Of Period | | | | | |
| Nonaccrual Loans/Assets | $71.3 | $55.0 | | $76.7 | $78.8 | $92.8 | |
| Nonaccrual Assets / Loans | 0.16% | 0.13% | | 0.18% | 0.18% | 0.21% | |
| Gross Charge-offs | $(0.2) | $(0.4) | | $(1.4) | $(2.1) | $(0.1) | |
| Gross Recoveries | 0.6 | 0.3 | | 1.0 | 1.7 | 0.4 | |
| Net Recoveries (Charge-offs) | $0.4 | $(0.1) | | $(0.4) | $(0.4) | $0.3 | |
| Annualized Net Recoveries (Charge-offs) to Avg Loans | - % | - % | | - % | - % | - % | |
| Allowance for Credit Losses Assigned to: | | | | | |
| Loans | $160.9 | $161.1 | | $164.3 | $164.4 | $180.5 | |
| Undrawn Loan Commitments and Standby Letters of Credit | 21.9 | 25.5 | | 23.3 | 32.1 | 34.7 | |
| Debt Securities and Other Financial Assets | 7.5 | 8.6 | | 10.7 | 10.2 | 8.9 | |
| Loans Allowance / Nonaccrual Loans | 2.3x | 2.9x | | 2.1x | 2.1x | 1.9x | |
(*) Net interest margin presented on an FTE basis is a non-GAAP financial measure. Refer to the Reconciliation to Fully Taxable Equivalent section for further detail.
There was no Other Real Estate Owned (OREO) for any of the periods presented.
Contacts
Stephen Carroll | 312-557-3474 | Stephen.Carroll@ntrs.com MEDIA CONTACT: John O'Connell | 312-444-2388 | John.O'Connell@ntrs.com