SEC 8-K filings with transcript text
Oct 21, 2026
2 q32026earningsreleaseex991.htm
Document
Exhibit 99.1
www.northerntrust.com
INVESTOR CONTACT: Stephen Carroll | 312-557-3474 | Stephen.Carroll@ntrs.com MEDIA CONTACT: John O'Connell | 312-444-2388 | John.O'Connell@ntrs.com
CHICAGO, OCTOBER 21, 2026 — Northern Trust Corporation today reported third quarter net income per diluted common share of $3.40, compared to $4.23 in the second quarter of 2026 and $2.29 in the third quarter of 2025. Net income was $642.9 million, compared to $792.2 million in the prior quarter and $457.6 million in the prior-year quarter.
Third Quarter 2026 results included the following notable items:
•$48.7 million (pre-tax) impact to Other Noninterest Income from notable items (after-tax $36.8 million):
•$34.0 million (pre-tax) gain on the sale of the guardianship services business, recognized in Other Operating Income (after-tax $25.7 million).
•$14.7 million (pre-tax) incremental gain related to Northern Trust’s participation in the second Visa Exchange Offer, recognized in Other Operating Income (after-tax $11.1 million).
“Northern Trust delivered strong third-quarter results, demonstrating continued progress against our One Northern Trust strategy. Compared to the prior year and excluding notable items, revenues grew 11%, while disciplined expense management generated more than 600 basis points of positive operating leverage. As a result, pretax income increased 21% and earnings per share increased 40%. All three businesses delivered organic trust-fee growth, reflecting strong execution across the company. Market conditions continued to evolve but remained constructive overall. Our diversified business model positions us to perform across a range of environments. Our strong capital position enabled us to return more than $1.5 billion to common shareholders year to date.
As we enter the final quarter of the year, we remain focused on supporting our clients, investing in growth and delivering sustainable long-term value to shareholders.”
% Change Q3 2026 vs.
($ In Millions except per share data)Q3 2026
Trust, Investment and Other Servicing Fees$1,373.0 $1,349.5 $1,265.5 2 %8 %
Other Noninterest Income250.0 673.0 169.1 (63)48
Net Interest Income (FTE*)679.1 683.1 596.3 (1)14
Total Revenue (FTE*)$2,302.1 $2,705.6 $2,030.9 (15)%13 %
Noninterest Expense$1,492.5 $1,638.6 $1,422.9 (9)%5 %
Provision for Credit Losses5.4 (5.3)(17.0)N/MN/M
Provision for Income Taxes153.6 272.5 161.9 (44)(5)
FTE Adjustment*7.7 7.6 5.5 141
Net Income$642.9 $792.2 $457.6 (19)%40 %
Earnings Allocated to Common Shares$621.9 $782.2 $437.2 (20)%42 %
Diluted Earnings per Common Share$3.40 $4.23 $2.29 (20)48
Return on Average Common Equity20.1 %25.9 %14.8 %
Average Assets$159,235.9 $163,575.8 $151,041.5 (3)%5 %
(1) For Q2 2026, Other Noninterest Income included a $525.4 million gain related to Northern Trust's participation in the second Visa Exchange Offer and a $73.9 million loss on available for sale debt securities sold in conjunction with a repositioning of the portfolio.
(2) For Q2 2026, Noninterest Expense included a $61.5 million charge related to software dispositions, a $51.0 million severance-related charge, and a $33.1 million expense related to the the Invested as One equity grant to eligible employees.
(*) Net interest income and total revenue presented on a fully taxable equivalent (FTE) basis are non-generally accepted accounting principles (non-GAAP) financial measures. Refer to the Reconciliation to Fully Taxable Equivalent section for further detail.
N/M - Not meaningful
Assets under custody/administration (AUC/A) and assets under management are a driver of the Corporation’s trust, investment and other servicing fees, the largest component of noninterest income.
As of % Change September 30, 2026 vs.
($ In Billions)September 30, 2026*June 30, 2026September 30, 2025June 30, 2026September 30, 2025
Assets Under Custody/Administration
Asset Servicing$18,533.7 $18,635.2 $16,990.4 (1)%9 %
Wealth Management1,362.9 1,365.0 1,257.2 — 8
Total Assets Under Custody/Administration$19,896.6 $20,000.2 $18,247.6 (1)%9 %
Assets Under Custody(1)
Asset Servicing$14,452.9 $14,587.7 $13,195.0 (1)%10 %
Wealth Management1,348.3 1,351.1 1,244.1 — 8
Total Assets Under Custody$15,801.2 $15,938.8 $14,439.1 (1)%9 %
Assets Under Management
Asset Servicing$1,427.1 $1,436.0 $1,280.1 (1)%11 %
Wealth Management535.9 533.9 492.6 — 9
Total Assets Under Management$1,963.0 $1,969.9 $1,772.7 — %11 %
(1) Assets Under Custody are a component of Assets Under Custody/Administration.
(*) Client assets for the current quar
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