Financial Performance - Net income for Q3 2025 was $457.6 million, representing a 3% increase compared to Q2 2025[4] - Basic earnings per share (EPS) for Q3 2025 were $2.30, up from $2.14 in Q2 2025, reflecting a growth of 7.5%[4] - Return on average common equity for Q3 2025 was 14.8%, an increase from 14.2% in Q2 2025[4] - The company reported a profit margin (after tax) of 22.5% for Q3 2025, an increase from 21.0% in Q2 2025[4] - Net Income fell by 19% to $1,270.9 million from $1,575.7 million year-over-year[6] - Earnings Per Share - Basic decreased by 16% to $6.34, down from $7.53 in the prior year[6] - Net Income for 2023 was $1,107.3 million, compared to $1,336.0 million in 2022, showing a decrease of about 17.1%[8] - Earnings Per Share (EPS) - Basic for 2023 was $5.09, down from $6.16 in 2022, reflecting a decline of approximately 17.4%[8] Revenue and Income Sources - Noninterest income as a percentage of total revenue was 70.6% for Q3 2025, compared to 70.5% in Q2 2025[4] - Trust fees accounted for 62.3% of total revenue in Q3 2025, slightly up from 62.0% in Q2 2025[4] - Total Revenue (FTE) decreased by 6% to $5,979.1 million compared to $6,352.1 million in the previous year[6] - Total Noninterest Income declined by 11% to $4,193.9 million, compared to $4,717.5 million in the previous year[6] - Total Noninterest Income for 2023 was $4,791.5 million, a decrease from $4,874.0 million in 2022, representing a decline of approximately 1.7%[8] Expenses and Costs - Total Noninterest Expense remained relatively stable at $4,257.1 million, a slight decrease of 0.02% from $4,258.0 million[6] - Total Noninterest Expense for 2023 was $5,284.2 million, an increase from $4,982.9 million in 2022, indicating a rise of about 6.1%[8] - Compensation expenses increased by 0.5% to $1,884.5 million compared to $1,875.9 million in the previous year[6] - Compensation expenses for 2023 were $2,321.8 million, up from $2,248.0 million in 2022, reflecting an increase of about 3.3%[8] Assets and Liabilities - Total assets increased by 9% from $155,753.8 million in 2024 to $170,263.3 million in 2025[12] - Total liabilities increased by 10% from $143,004.8 million in 2024 to $157,307.3 million in 2025[12] - Total assets for Northern Trust Corporation increased to $146,633.5 million in 2024, up from $142,649.2 million in 2023, representing a growth of approximately 2.7%[14] - Total liabilities reached $134,333.7 million in 2024, up from $131,152.4 million in 2023, indicating a growth of approximately 2.1%[14] Capital and Equity - Total capital ratio for Q3 2025 was 15.1%, stable compared to the previous quarter[4] - Common equity, excluding accumulated other comprehensive income, was $12,706.2 million in 2025, a slight increase from $12,643.6 million in 2024[12] - Stockholders' equity increased to $12,604.0 million in 2024, compared to $12,577.5 million in 2023, reflecting a slight growth of 0.2%[14] Tax and Profitability Metrics - The effective tax rate for Q3 2025 was 26.1%, consistent with the previous quarter[4] - The effective tax rate (GAAP) for 2023 was 24.4%, projected to be 23.6% in 2024, showing a slight improvement[32] - Profit margin (pre-tax) (GAAP) for 2023 was 21.6%, expected to increase to 32.1% in 2024, indicating a substantial improvement of about 48.6%[32] Future Projections - Total revenue for 2023 was $6,773.5 million, with a projected increase to $8,290.4 million in 2024, representing a growth of approximately 22.3%[28] - Net interest income (FTE) for 2023 was $2,039.5 million, expected to rise to $2,208.9 million in 2024, indicating a growth of about 8.3%[28] - Income before income taxes (GAAP) for 2023 was $1,464.8 million, with a forecast of $2,659.5 million for 2024, reflecting a significant increase of approximately 81.8%[28]
NORTHERN DEPOSIT(NTRSO) - 2025 Q3 - Quarterly Results