PART I [Item 1. Business](index=3&type=section&id=Item%201%20Business) Northern Trust Corporation is a financial holding company providing wealth management, asset servicing, asset management, and banking solutions through two primary segments: Corporate & Institutional Services (C&IS) and Wealth Management [Business Overview](index=3&type=section&id=Business%20Overview) Northern Trust operates through two main client-focused segments: Corporate & Institutional Services (C&IS) and Wealth Management, with the Asset Management business supporting both Assets by Business Segment (as of December 31, 2020) | Segment | Assets Under Custody/Administration | Assets Under Custody | Assets Under Management | | :--- | :--- | :--- | :--- | | **Corporate & Institutional Services (C&IS)** | $13.65 trillion | $10.39 trillion | $1.06 trillion | | **Wealth Management** | $879.4 billion | $875.1 billion | $347.8 billion | - The Asset Management business provides investment solutions including active and passive equity and fixed income, cash management, and alternative assets, with its revenue and expenses **fully allocated** to the C&IS and Wealth Management segments[18](index=18&type=chunk) [Supervision and Regulation](index=4&type=section&id=Supervision%20and%20Regulation) Northern Trust is subject to **extensive regulation** as a financial holding company, classified as a Category II institution under the Dodd-Frank Act's tailoring rules - Under the Federal Reserve Board's tailoring rule, Northern Trust is **classified** as a **Category II institution**, **subjecting it to enhanced prudential standards** such as annual capital plans, stress tests, and **enhanced risk and liquidity management**[30](index=30&type=chunk)[31](index=31&type=chunk) Risk-Based and Leverage Capital Ratios (as of December 31, 2020) | Entity | Common Equity Tier 1 (Standardized) | Tier 1 Capital (Standardized) | Total Capital (Standardized) | Tier 1 Leverage (Standardized) | | :--- | :--- | :--- | :--- | :--- | | **Northern Trust Corporation** | 12.8% | 13.9% | 15.6% | 7.6% | | **The Northern Trust Company** | 13.0% | 13.0% | 14.5% | 7.0% | | **Minimum Required Ratio** | 4.5% | 6.0% | 8.0% | 4.0% | | **"Well Capitalized" Minimum** | N/A (Corp) / 6.5% (Bank) | 6.0% (Corp) / 8.0% (Bank) | 10.0% | N/A (Corp) / 5.0% (Bank) | - The Corporation's stress capital buffer requirement for the 2020 capital plan cycle was set at **2.5%**, **effective** October 1, 2020, **resulting in a minimum** Common Equity Tier 1 capital ratio requirement of **7.0%**[58](index=58&type=chunk) - The company is **subject to** the U.S. Liquidity Coverage Ratio (LCR) and will be **required to comply** with the Net Stable Funding Ratio (NSFR) beginning July 1, 2021[59](index=59&type=chunk)[60](index=60&type=chunk) [Human Capital Management](index=12&type=section&id=Human%20Capital%20Management) Northern Trust employed approximately **20,900 full-time equivalent staff** globally as of December 31, 2020, with a **key** human capital strategy focusing on talent, rewards, and DE&I Workforce by Region (as of December 31, 2020) | Region | Percentage of Workforce | | :--- | :--- | | North America | 46% | | Asia Pacific | 35% | | Europe, Middle East, and Africa | 19% | - The company's talent management process includes **comprehensive onboarding**, **continuous learning and development**, and annual talent reviews **focused on diversity**, promotion readiness, and succession planning[96](index=96&type=chunk)[97](index=97&type=chunk)[98](index=98&type=chunk) Board and Executive Officer Diversity (as of December 31, 2020) | Group | Female | Male | White | Black | Hispanic | Asian | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | **Board of Directors** | 23% | 77% | 61% | 23% | 8% | 8% | | **Executive Officers** | 33% | 67% | 83% | 17% | —% | —% | [Item 1A. Risk Factors](index=14&type=section&id=Item%201A.%20Risk%20Factors) Northern Trust faces a **variety of significant risks** that could **adversely affect** its business, including pandemic impacts, market volatility, operational failures, and regulatory changes - The COVID-19 pandemic has **adversely affected** business through **lower** net interest income, **increased** provisions for credit losses, and **potential operational disruptions** from remote work arrangements[112](index=112&type=chunk)[113](index=113&type=chunk) - A **majority** of revenues are fee-based and tied to the market value of assets, making earnings **susceptible to downturns** in equity and debt markets[116](index=116&type=chunk) - **Low interest rate environments negatively impact** net interest margin and may require fee waivers on money market mutual funds, **directly reducing** earnings[119](index=119&type=chunk) - **Failures of technological systems** or security breaches from cyber-attacks are **significant risks** that could lead to financial losses, regulatory penalties, and reputational damage[132](index=132&type=chunk)[133](index=133&type=chunk)[136](index=136&type=chunk) - The transition away from LIBOR to alternative reference rates creates **uncertainty** and could **adversely impact** the cost of funding, the value of loans and derivatives, and lead to **operational disruptions** or **litigation**[153](index=153&type=chunk) - The company's ability to pay dividends and repurchase stock is **subject to regulatory approval** and capital plan rules, which were **restricted** by the Federal Reserve in 2020 to **preserve capital** during the pandemic[183](index=183&type=chunk)[184](index=184&type=chunk) [Item 2. Properties](index=27&type=section&id=Item%202.%20Properties) The executive offices are located in a company-owned building in Chicago, with a global network of mostly leased offices across 22 U.S. states and 22 international locations - The Corporation's **main executive offices** are located at 50 South La Salle Street in Chicago, a building **owned** by its subsidiary, The Northern Trust Company[188](index=188&type=chunk) - Northern Trust operates through a network of offices in **22 U.S. states** and **22 locations** across Canada, Europe, the Middle East, and the Asia-Pacific region, with the **majority** of these facilities being leased[188](index=188&type=chunk) [Item 3. Legal Proceedings](index=27&type=section&id=Item%203.%20Legal%20Proceedings) This section incorporates by reference information regarding legal proceedings from Note 26 of the Financial Statements - Information regarding legal proceedings is **incorporated by reference** from Note 26, "Commitments and Contingent Liabilities," in Item 8 of the report[191](index=191&type=chunk) [Supplemental Item. Information About Our Executive Officers](index=28&type=section&id=Supplemental%20Item.%20Information%20About%20Our%20Executive%20Officers) This section provides biographical information for Northern Trust Corporation's executive officers, including Chairman and CEO Michael G. O'Grady and CFO Jason J. Tyler - Michael G. O'Grady serves as **Chairman of the Board**, **Chief Executive Officer**, and **President**[194](index=194&type=chunk) - Jason J. Tyler serves as **Executive Vice President** and **Chief Financial Officer**[205](index=205&type=chunk) PART II [Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities](index=30&type=section&id=Item%205.%20Market%20for%20Registrant%27s%20Common%20Equity%2C%20Related%20Stockholder%20Matters%20and%20Issuer%20Purchases%20of%20Equity%20Securities) Northern Trust's common stock trades on The NASDAQ Stock Market under "NTRS," with its share repurchase program suspended in 2020 due to Federal Reserve restrictions but restarted in 2021 - The Corporation **suspended** its share repurchase program on March 16, 2020. No shares were repurchased in Q4 2020 due to Federal Reserve restrictions, but the program **restarted** in Q1 2021[209](index=209&type=chunk) Five-Year Cumulative Total Return Comparison (2015-2020) | Company/Index | 2015 | 2020 | Cumulative Return | | :--- | :--- | :--- | :--- | | **Northern Trust** | \$100 | \$146 | 46% | | **S&P 500** | \$100 | \$203 | 103% | | **KBW Bank Index** | \$100 | \$153 | 53% | [Item 6. Selected Financial Data](index=32&type=section&id=Item%206.%20Selected%20Financial%20Data) This section presents a five-year summary of **key financial data** for Northern Trust Corporation, highlighting changes in net income, assets, and client assets Selected Financial Data (2018-2020) | Metric (\$ in Millions, except per share) | 2020 | 2019 | 2018 | | :--- | :--- | :--- | :--- | | **Total Revenue** | \$6,100.8 | \$6,073.1 | \$5,960.2 | | **Net Income** | \$1,209.3 | \$1,492.2 | \$1,556.4 | | **Net Income - Diluted EPS** | \$5.46 | \$6.63 | \$6.64 | | **Total Assets (EOP)** | \$170,003.9 | \$136,828.4 | \$132,212.5 | | **Assets Under Custody/Administration (EOP, \$B)** | \$14,532.5 | \$12,050.4 | \$10,125.3 | | **Assets Under Management (EOP, \$B)** | \$1,405.3 | \$1,231.3 | \$1,069.4 | | **Return on Average Common Equity** | 11.2% | 14.9% | 16.2% | [Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations](index=33&type=section&id=Item%207.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) In 2020, Northern Trust's financial performance was **significantly impacted** by the COVID-19 pandemic, leading to a **19% decline** in net income despite **growth** in fee-based revenue, while maintaining a **strong capital position** [Financial Overview](index=34&type=section&id=Financial%20Overview) For 2020, Net Income **decreased 19%** to **\$1.21 billion**, and diluted EPS **fell** to **\$5.46** from **\$6.63** in 2019, with client assets **growing** due to **net inflows** and **favorable markets** 2020 vs. 2019 Financial Highlights | Metric | 2020 | 2019 | % Change | | :--- | :--- | :--- | :--- | | **Net Income** | \$1.21 billion | \$1.49 billion | (19%) | | **Diluted EPS** | \$5.46 | \$6.63 | (18%) | | **Total Revenue** | \$6.10 billion | \$6.07 billion | 0.5% | | **Trust, Investment & Other Servicing Fees** | \$4.00 billion | \$3.85 billion | 4% | | **Net Interest Income** | \$1.44 billion | \$1.68 billion | (14%) | | **Provision for Credit Losses** | \$125.0 million | (\$14.5 million) | N/M | - Client assets under custody/administration (AUC/A) **increased by 21%** to **\$14.53 trillion**, and assets under management (AUM) **grew by 14%** to **\$1.41 trillion**, **primarily due to net inflows and favorable markets**[230](index=230&type=chunk) [Consolidated Results of Operations](index=35&type=section&id=Consolidated%20Results%20of%20Operations) Consolidated revenue for 2020 **increased slightly** to **\$6.10 billion**, driven by **growth** in noninterest income but **offset by a 14% decline** in Net Interest Income and a **sharp reversal** in the Provision for Credit Losses Revenue Components (\$ in Millions) | Revenue Component | 2020 | 2019 | % Change | | :--- | :--- | :--- | :--- | | **Trust, Investment and Other Servicing Fees** | \$3,995.0 | \$3,852.1 | 4% | | **Foreign Exchange Trading Income** | \$290.4 | \$250.9 | 16% | | **Security Commissions and Trading Income** | \$133.2 | \$103.6 | 29% | | **Other Operating Income** | \$194.0 | \$145.5 | 33% | | **Net Interest Income** | \$1,443.2 | \$1,677.9 | (14%) | | **Total Revenue** | **\$6,100.8** | **\$6,073.1** | **0.5%** | - The company **voluntarily waived** **\$29.3 million** of money market mutual fund fees in 2020 due to the **low-interest-rate environment**, which **adversely impacted** Trust, Investment and Other Servicing Fees[249](index=249&type=chunk) - Noninterest expense in 2020 included **\$55.0 million** in **severance-related charges**, a **\$43.4 million charge** for a corporate action **processing error**, and **\$11.9 million** for an **early lease exit**[305](index=305&type=chunk) [Reporting Segments and Related Information](index=47&type=section&id=Reporting%20Segments%20and%20Related%20Information) In 2020, the Wealth Management segment **generated 60%** of consolidated net income, while Corporate & Institutional Services (C&IS) **contributed 43%**, with both segments experiencing net income **declines** Net Income by Segment (\$ in Millions) | Segment | 2020 Net Income | 2019 Net Income | % Change | % of 2020 Consolidated Net Income | | :--- | :--- | :--- | :--- | :--- | | **Corporate & Institutional Services (C&IS)** | \$520.7 | \$713.8 | (27%) | 43% | | **Wealth Management** | \$729.2 | \$796.1 | (8%) | 60% | | **Treasury and Other** | (\$40.6) | (\$17.7) | N/M | (3%) | - C&IS revenue **decreased 2%** as an **8% rise** in noninterest income was **more than offset by a 28% decline** in net interest income[330](index=330&type=chunk) - Wealth Management revenue **grew 3%**, but a provision for credit losses of **\$86.9 million** (versus a credit of **\$16.4 million** in 2019) **drove the decline** in net income[340](index=340&type=chunk) [Consolidated Balance Sheet Review](index=53&type=section&id=Consolidated%20Balance%20Sheet%20Review) Total assets **increased 24%** to **\$170.0 billion** at year-end 2020, **primarily driven by a significant rise** in customer deposits and Federal Reserve deposits Selected Balance Sheet Data (Year-End, \$ in Billions) | Account | Dec 31, 2020 | Dec 31, 2019 | % Change | | :--- | :--- | :--- | :--- | | **Total Assets** | \$170.0 | \$136.8 | 24% | | Federal Reserve and Other Central Bank Deposits | \$55.4 | \$33.8 | 64% | | Total Securities | \$61.1 | \$52.3 | 17% | | Loans and Leases | \$33.8 | \$31.4 | 7% | | **Total Deposits** | \$143.9 | \$109.1 | 32% | | **Total Stockholders' Equity** | \$11.7 | \$11.1 | 5% | - The **growth** in the balance sheet was **primarily driven by higher customer deposit balances**[360](index=360&type=chunk) [Asset Quality](index=54&type=section&id=Asset%20Quality) Asset quality **weakened** in 2020, with nonaccrual assets **increasing 53%** and the Allowance for Credit Losses **surging** due to CECL adoption and **deteriorating economic forecasts** Nonaccrual Assets (\$ in Millions) | Category | Dec 31, 2020 | Dec 31, 2019 | | :--- | :--- | :--- | | **Total Nonaccrual Loans and Leases** | \$131.7 | \$83.6 | | Other Real Estate Owned | \$0.7 | \$3.2 | | **Total Nonaccrual Assets** | **\$132.4** | **\$86.8** | Allowance for Credit Losses (\$ in Millions) | Component | Dec 31, 2020 | Dec 31, 2019 | | :--- | :--- | :--- | | **Allowance Assigned to Loans and Leases** | \$190.7 | \$104.5 | | **Allowance Assigned to Undrawn Commitments** | \$61.1 | \$19.9 | | **Total Allowance for Credit Losses** | **\$251.8** | **\$124.4** | - The **increase** in the allowance for credit losses was **primarily driven by the adoption** of ASU 2016-13 (CECL) and the **economic impact** of the COVID-19 pandemic[386](index=386&type=chunk)[396](index=396&type=chunk) [Capital Management](index=63&type=section&id=Capital%20Management) Northern Trust **maintained a strong capital position** in 2020, with all capital ratios **exceeding** 'well-capitalized' regulatory requirements, and **returned \$891.8 million** to common stockholders Capital Ratios (Standardized Approach, as of Dec 31, 2020) | Ratio | Corporation | Minimum Requirement | | :--- | :--- | :--- | | **Common Equity Tier 1 (CET1)** | 12.8% | 7.0% (incl. buffer) | | **Tier 1 Capital** | 13.9% | 8.5% (incl. buffer) | | **Total Capital** | 15.6% | 10.5% (incl. buffer) | | **Tier 1 Leverage** | 7.6% | 4.0% | - In 2020, the Corporation **returned \$891.8 million** to common stockholders through **\$592.0 million** in dividends and **\$299.8 million** in share repurchases[415](index=415&type=chunk)[299](index=299&type=chunk) [Risk Management](index=70&type=section&id=Risk%20Management) Northern Trust employs an **integrated, three-lines-of-defense risk management framework** covering seven **primary risk categories**, including **liquidity stress testing** and **managing interest rate risk** - The risk management framework is **structured around** a "**three lines of defense**" model: business units (1st line), the Risk Management function (2nd line), and Audit Services (3rd line)[458](index=458&type=chunk) - The company **maintains a strong liquidity position**, with cash, central bank deposits, and securities representing **73%** of total assets. It **satisfied all** U.S. Liquidity Coverage Ratio (LCR) **requirements** during 2020[521](index=521&type=chunk)[522](index=522&type=chunk) Net Interest Income Sensitivity (as of Dec 31, 2020) | Interest Rate Change (Ramp over 12 months) | Estimated Impact on NII (\$ in Millions) | | :--- | :--- | | **+100 bps** | \$249 | | **+200 bps** | \$451 | | **-100 bps** | \$114 | - The **average** Value-at-Risk (VaR) for Global Foreign Currency trading in 2020 was **\$0.3 million**, with a **high** of **\$1.8 million**[557](index=557&type=chunk) [Item 8. Financial Statements and Supplementary Data](index=89&type=section&id=Item%208.%20Financial%20Statements%20and%20Supplementary%20Data) This section presents the audited consolidated financial statements for Northern Trust Corporation, including the **unqualified opinion** from KPMG LLP and detailed notes on accounting policies and financial data - The independent auditor, KPMG LLP, issued an **unqualified opinion** on the consolidated financial statements and the **effectiveness of internal control over financial reporting** as of December 31, 2020[575](index=575&type=chunk)[576](index=576&type=chunk) - A **critical audit matter** identified by the auditor was the assessment of the allowance for credit losses for commercial loans and leases, due to the **significant measurement uncertainty** and **subjective judgment** required under the newly adopted CECL accounting standard (ASC Topic 326)[580](index=580&type=chunk)[581](index=581&type=chunk)[582](index=582&type=chunk) [Consolidated Financial Statements](index=92&type=section&id=Consolidated%20Financial%20Statements) The consolidated financial statements detail Northern Trust's financial position and performance, reporting **\$170.0 billion** in total assets and **\$1.21 billion** in net income for 2020 Key Financial Statement Data (Year Ended Dec 31, 2020) | Metric (\$ in Millions) | Amount | | :--- | :--- | | **Balance Sheet:** | | | Total Assets | \$170,003.9 | | Total Loans and Leases | \$33,759.7 | | Total Deposits | \$143,878.0 | | Total Stockholders' Equity | \$11,688.3 | | **Income Statement:** | | | Total Noninterest Income | \$4,657.6 | | Net Interest Income | \$1,443.2 | | Net Income | \$1,209.3 | [Notes to Consolidated Financial Statements](index=96&type=section&id=Notes%20to%20Consolidated%20Financial%20Statements) The notes provide **detailed explanations** of accounting policies and financial data, including the **adoption** of the CECL standard and the composition of various financial portfolios - The company **adopted** ASU 2016-13 (CECL) on January 1, 2020, recording a **\$13.7 million increase** in the allowance for credit losses and a **corresponding \$10.1 million decrease** to retained earnings, net of tax[672](index=672&type=chunk) - As of December 31, 2020, the company had **\$28.9 billion** in **undrawn commitments** to extend credit and **\$157.5 billion** in **custody securities lent** with indemnification[938](index=938&type=chunk) - The company's **non-U.S. operations** accounted for **\$38.4 billion** in total assets and **\$302.6 million** in net income for 2020[1014](index=1014&type=chunk) [Item 9A. Controls and Procedures](index=171&type=section&id=Item%209A.%20Controls%20and%20Procedures) Management concluded that the company's disclosure controls and internal control over financial reporting were **effective** as of December 31, 2020, with an **unqualified attestation report** from KPMG LLP - Management **concluded** that the Corporation's disclosure controls and procedures were **effective** as of December 31, 2020[1031](index=1031&type=chunk) - Management **assessed internal control over financial reporting as effective**, and the independent auditor, KPMG LLP, issued an **unqualified attestation report** on its **effectiveness**[1033](index=1033&type=chunk)[1037](index=1037&type=chunk) PART III [Items 10-14](index=173&type=section&id=Items%2010-14) Information for Items 10 through 14, covering Directors, Executive Officers, Corporate Governance, Executive Compensation, Security Ownership, Certain Relationships, and Principal Accountant Fees, is **incorporated by reference** from the 2021 Proxy Statement - The information for Items 10, 11, 12, 13, and 14 is **incorporated by reference** from the company's 2021 Proxy Statement[1045](index=1045&type=chunk)[1046](index=1046&type=chunk)[1047](index=1047&type=chunk)[1048](index=1048&type=chunk)[1049](index=1049&type=chunk) PART IV [Item 15. Exhibits and Financial Statement Schedules](index=174&type=section&id=Item%2015.%20Exhibits%20and%20Financial%20Statement%20Schedules) This section lists all financial statements and schedules filed as part of the Form 10-K, including **key corporate governance documents** and **compensatory plans** - This section lists all financial statements and exhibits filed with the Form 10-K, including **key corporate governance documents** and compensatory plans[1051](index=1051&type=chunk)[1053](index=1053&type=chunk)

Northern Trust Corporation (NASDAQ:NTRS) Q4 2020 Earnings Conference Call January 21, 2021 10:00 AM ET Company Participants Mark Bette - Director-IR Mike O???Grady - Chairman & CEO Jason Tyler - CFO Conference Call Participants Glenn Schorr - Evercore Alex Blostein - Goldman Sachs Brennan Hawken - UBS Steven Chubak - Wolfe Research Mike Mayo - Wells Fargo Securities Betsy Graseck - Morgan Stanley Mike Carrier - Bank of America Brian Bedell - Deutsche Bank Jim Mitchell - Seaport Global Securities Brian Klein ...

Northern Trust Corporation .Fourth Quarter 2020 Quarterly Earnings Review . January 21, 2021 northerntrust.com | © 2021 NorthernTrust 1 4Q20 End of Period Month Lag1 Quarter Lag2 1 month Libor (Avg) (165) Bps (2) bps 3 month Libor (Avg) (171) bps (3) bps EUR / USD (8.3)% (4.2)% GBP / USD (3.1)% (5.4)% EXECUTIVE SUMMARY Net income of $240.9 million, diluted earnings per common share of $1.12 Return on average common equity of 8.8% The fourth quarter included: $55.0 million pre-tax severance-related charges ( ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ____________________________________________ FORM 10-Q QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly Period Ended September 30, 2020 OR TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File No. 001-36609 NORTHERN TRUST CORPORATION (Exact name of registrant as specified in its charter) Delaware ...

Financial Data and Key Metrics Changes - The company reported third quarter net income of $294.5 million, with earnings per share at $1.32 and a return on average common equity of 10.5% [22] - Year-over-year revenue decreased by 3%, with non-interest income up 3% and net interest income down 21% [24] - Expenses increased by 6%, and net income declined by 23% year-over-year [24][25] - Assets under custody and administration grew to $13.1 trillion, up 13% year-over-year [25] Business Line Data and Key Metrics Changes - In Wealth Management, trust, investment, and other servicing fees were $419 million, up 1% year-over-year and up 6% sequentially [37] - Asset management business saw significant market share gains, managing nearly $100 billion in assets globally under ESG mandates [12] - Corporate and institutional services fees totaled $585 million, up 4% year-over-year [31] Market Data and Key Metrics Changes - The average one-month and three-month LIBOR rates continued to decline during the quarter [23] - The EFA local index remains negative year-over-year, impacting fees unfavorably compared to the prior year [23] Company Strategy and Development Direction - The company is focused on driving efficiencies through technology solutions and growing organically by leveraging existing client relationships [17] - There is an emphasis on enhancing ESG analytics capabilities and launching new client-focused ESG tools [15][16] - The company is exploring opportunities for acquisitions, particularly in the wealth management space, to enhance its client base [102] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the resilience of the business despite the ongoing public health crisis, noting effective adaptation to remote operations [9] - The outlook for net interest income (NII) suggests a potential decline of 1% to 2% per quarter as the securities portfolio continues to reprice [56][57] - Management highlighted a strong pipeline for new business in the corporate and institutional services sector, with expectations for onboarding in the near term [85] Other Important Information - The company declared cash dividends of $0.70 per share, totaling $148 million to common stockholders [49] - A $43.4 million pretax charge related to a corporate action processing error was noted, which impacted net income [22][42] Q&A Session Summary Question: Outlook for NII - Management indicated that 75% of earning assets have been repriced, with expectations for NII to decline by 1% to 2% per quarter moving forward [54][57] Question: Corporate action item clarification - Management explained that the corporate action error was unusual in size but not in occurrence, and corrective measures were taken to address the issue [63][68] Question: Growth in securities line - Management discussed the increase in the securities portfolio, emphasizing a focus on short-term investments to pick up yield without significant risk [71] Question: Organic fee growth expectations - Management noted significant growth in investment management fees and expressed optimism about the pipeline for new business, despite some volatility in the current year [84][89] Question: Capital utilization strategy - Management outlined a framework for capital deployment, considering regulatory requirements, market conditions, and potential acquisition opportunities [98][102] Question: Loan demand trends - Management observed an uptick in loan demand in September, indicating clients are preparing for potential opportunities [118][121]

Northern Trust Corporation .Third Quarter 2020 Quarterly Earnings Review . October 21, 2020 northerntrust.com | © 2020 NorthernTrust 1 EXECUTIVE SUMMARY 3Q20 End of Period Month Lag1 Quarter Lag2 Net income of $294.5 million, diluted earnings per common share of $1.32 Return on average common equity of 10.5% The third quarter included: $43.4 million pre-tax charge related to a corporate action processing error Key Macroeconomic Factors YoY Seq YoY Seq YoY Seq | --- | --- | --- | --- | --- | --- | --- | |--- ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ____________________________________________ FORM 10-Q QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly Period Ended June 30, 2020 OR TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File No. 001-36609 NORTHERN TRUST CORPORATION (Exact name of registrant as specified in its charter) Indicate by ch ...

Northern Trust Corporation (NASDAQ:NTRS) Q2 2020 Earnings Conference Call July 22, 2020 10:00 AM ET Company Participants Mark Bette ??? Director-Investor Relations Michael O???Grady ??? Chairman and Chief Executive Officer Jason Tyler ??? Chief Financial Officer Lauren Allnutt ??? Controller Conference Call Participants Alex Blostein ??? Goldman Sachs Ken Usdin ??? Jefferies Mike Carrier ??? Bank of America Jim Mitchell ??? Seaport Global Brian Bedell ??? Deutsche Bank Brennan Hawken ??? UBS Betsy Graseck ? ...

Northern Trust Corporation .Second Quarter 2020 Quarterly Earnings Review . July 22, 2020 northerntrust.com | © 2020 NorthernTrust 1 EXECUTIVE SUMMARY 2Q20 End of Period Month Lag1 Quarter Lag2 Net income of $313.3 million, diluted earnings per common share of $1.46 Return on average common equity of 12.2% Key Macroeconomic Factors | --- | --- | --- | --- | --- | --- | --- | |-----------------|-----------|-----------|---------|---------|---------|---------| | | YoY | Seq | YoY | Seq | YoY | Seq | | S&P 500 ...

For the Quarterly Period Ended March 31, 2020 OR TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ____________________________________________ FORM 10-Q QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File No. 001-36609 NORTHERN TRUST CORPORATION (Exact name of registrant as specified in its char ...