Northern Trust · Earnings release

NEWS RELEASE

www.northerntrust.com

INVESTOR CONTACT: Jennifer Childe | 312-444-3290 | Jennifer.Childe@ntrs.com MEDIA CONTACT: Doug Holt | 312-662-8315 | Doug.Holt@ntrs.com

NORTHERN TRUST CORPORATION REPORTS THIRD QUARTER

NET INCOME OF $464.9 MILLION, EARNINGS PER DILUTED COMMON SHARE OF $2.22

CHICAGO, OCTOBER 23, 2024 — Northern Trust Corporation today reported third quarter net income per diluted common share of $2.22, compared to $4.34 in the second quarter of 2024 and $1.49 in the third quarter of 2023. Net income was $464.9 million, compared to $896.1 million in the prior quarter and $327.8 million in the prior-year quarter.

Third Quarter 2024 results included a $68.1 million pre-tax gain related to the sale of an equity investment (after-tax $51.4 million), recorded in Other Operating Income.

MICHAEL O’GRADY, CHAIRMAN AND CHIEF EXECUTIVE OFFICER:

“Northern Trust’s third quarter results reflect continued momentum across our businesses. Trust fees increased 8% and net interest income grew 21%, both as compared to the prior-year quarter. Excluding notables, earnings per share grew 32% and we returned more than $450 million to shareholders. Importantly, we generated positive trust fee and total operating leverage while continuing to make significant investments in our businesses and infrastructure.

We proudly celebrated our company’s 135th anniversary during the third quarter. Northern Trust’s core principles of service, expertise, and integrity, upon which our company was founded, still guide us today. As we look forward, we are taking actions to position the firm for higher underlying growth and greater operational efficiency, including the leadership changes we announced last month. We enter the fourth quarter with a strong new business pipeline and our attention squarely focused on serving the evolving needs of our clients.”

FINANCIAL SUMMARY & KEY METRICS

($ In Millions except per share data)

Trust, Investment and Other Servicing Fees

$

$

$

3

%

8

%

Other Noninterest Income (Loss)

Net Interest Income (FTE*)

7

Total Revenue (FTE*)

$

$

$

%

%

Noninterest Expense

$

$

$

%

6

%

Provision for Credit Losses

—

Provision for Income Taxes

FTE Adjustment*

3

Net Income

$

$

$

%

%

Earnings Allocated to Common and Potential Common Shares

$

$

$

%

%

Diluted Earnings per Common Share

$

$

$

Return on Average Common Equity

%

%

%

Return on Average Assets

%

%

%

Average Assets

$

$

$

(1)

%

5

%

(*) 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 THIRD QUARTER 2024 RESULTS

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.

As of

($ In Billions)

Assets Under Custody/Administration

Asset Servicing

$

$

$

5

%

%

Wealth Management

4

Total Assets Under Custody/Administration

$

$

$

5

%

%

Assets Under Custody(1)

Asset Servicing

$

$

$

6

%

%

Wealth Management

4

Total Assets Under Custody

$

$

$

6

%

%

Assets Under Management

Asset Servicing

$

$

$

6

%

%

Wealth Management

6

Total Assets Under Management

$

$

$

6

%

%

(1) 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.

TRUST, INVESTMENT AND OTHER SERVICING FEES

($ In Millions)

Asset Servicing Trust, Investment and Other Servicing Fees

Custody and Fund Administration

$

$

$

2

%

6

%

Investment Management

5

Securities Lending

6

Other

3

8

Total Asset Servicing

$

$

$

3

%

7

%

Wealth Management Trust, Investment and Other Servicing Fees

Central

$

$

$

3

%

8

%

East

3

8

West

2

Global Family Office (GFO)

2

Total Wealth Management

$

$

$

3

%

9

%

Total Consolidated Trust, Investment and Other Servicing Fees

$

$

$

3

%

8

%

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 sequentially and from the prior-year quarter.

▪Custody and fund administration fees increased sequentially primarily due to favorable markets and favorable currency translation, partially offset by previously disclosed lost business. Custody and fund administration fees increased from the prior-year quarter primarily due to favorable markets and favorable currency translation.

▪Investment management fees increased sequentially primarily due to favorable markets. Investment management fees increased from the prior-year quarter primarily due to favorable markets and new business.

Total Wealth Management trust, investment and other servicing fees increased sequentially and from the prior-year quarter.

•Fees in the regions increased sequentially and from the prior-year quarter primarily due to favorable markets.

•Fees in GFO increased from the prior-year quarter primarily due to favorable markets and asset inflows.

2

NORTHERN TRUST CORPORATION THIRD QUARTER 2024 RESULTS

OTHER NONINTEREST INCOME

($ In Millions)

Other Noninterest Income

Foreign Exchange Trading Income

$

$

$

(7)

%

4

%

Treasury Management Fees

(9)

9

Security Commissions and Trading Income

4

Other Operating Income

Investment Security Gains (Losses), net

—

—

N/M

N/M

Total Other Noninterest Income (Loss)

$

$

$

%

N/M - Not meaningful

Other operating income decreased sequentially primarily due to previously disclosed notable items recorded in the prior quarter and higher expenses related to existing Visa Class B swap agreements, including $12.8 million related to litigation escrow funding in the current quarter, partially offset by the $68.1 million gain on the sale of an equity investment in the current quarter. Other operating income increased compared to the prior-year quarter primarily driven by the $68.1 million gain on the sale of an equity investment in the current quarter, partially offset by higher expenses related to existing Visa Class B swap agreements, including $12.8 million related to litigation escrow funding in the current quarter, and a decrease in banking and credit-related service fees.

NET INTEREST INCOME

($ In Millions)

Net Interest Income

Interest Income (FTE*)

$

$

$

1

%

%

Interest Expense

(1)

Net Interest Income (FTE*)

$

$

$

7

%

%

Average Earning Assets

$

$

$

—

%

5

%

Net Interest Margin (FTE*)

%

%

%

bps

bps

(*) 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 higher than average impact of other items, partially offset by a decrease in the loan portfolio. Net interest income on an FTE basis increased compared to the prior-year quarter primarily driven by higher deposits, securities repositioning, and a higher than average impact of other items, partially offset by a decrease in the loan portfolio.

The net interest margin on an FTE basis increased sequentially primarily due to more favorable deposit costs and a higher than average impact of other items. The net interest margin on an FTE basis increased compared to the prior-year quarter primarily due to more favorable deposit costs, lower funding costs, and a higher than average impact of other items.

Average earning assets increased compared to the prior-year quarter primarily driven by an increase in deposits, partially offset by a decrease in borrowing activity.

3

NORTHERN TRUST CORPORATION THIRD QUARTER 2024 RESULTS

PROVISION FOR CREDIT LOSSES

As of and for the three-months ended,

($ In Millions)

Allowance for Credit Losses

Beginning Allowance for Credit Losses

$

$

$

4

%

6

%

Provision for Credit Losses

—

Net Recoveries (Charge-Offs)

N/M

N/M

Ending Allowance for Credit Losses

$

$

$

5

%

4

%

Allowance assigned to:

Loans

$

$

$

%

%

Undrawn Loan Commitments and

Standby Letters of Credit

(6)

Debt Securities and Other Financial Assets

Ending Allowance for Credit Losses

$

$

$

5

%

4

%

N/M - Not meaningful

The provision in the current quarter resulted from an increase in both the collective and individual reserves. The increase in collective reserves was primarily driven by a small number of downgrades and extensions in the Commercial and Institutional (C&I) portfolio. The reserve evaluated on a collective basis relates to pooled financial assets sharing similar risk characteristics. The increase in individual reserves was driven by the default of one C&I loan.

The provision in the prior quarter resulted from an increase in collective reserves. The increase in collective reserves was primarily in the C&I portfolio, driven by modest deterioration in credit quality, and the Commercial Real Estate (CRE) portfolio, driven by expectations for weaker CRE prices.

The provision in the prior-year quarter was primarily due to an increase in the reserve evaluated on a collective basis, driven by a small number of large new loans and renewals and credit quality deterioration of certain CRE and C&I loans, partially offset by a net improvement in the overall macroeconomic outlook.

4

NORTHERN TRUST CORPORATION THIRD QUARTER 2024 RESULTS

NONINTEREST EXPENSE

($ In Millions)

Noninterest Expense

Compensation

$

$

$

%

5

%

Employee Benefits

9

8

Outside Services

(2)

Equipment and Software

(3)

Occupancy

(2)

(8)

Other Operating Expense

Total Noninterest Expense

$

$

$

%

6

%

End of Period Full-Time Equivalent Employees

1

%

—

%

Compensation expense decreased sequentially primarily due to the prior quarter severance-related charge. Compensation expense increased compared to the prior-year quarter primarily due to higher base pay adjustments.

Employee benefits expense increased both sequentially and compared to the prior-year quarter primarily driven by higher medical costs.

Outside services expense increased compared to the prior-year quarter primarily due to an increase in consulting services.

Equipment and software expense decreased sequentially primarily due to the software disposition charges recorded in the prior quarter. Equipment and software expense increased compared to the prior-year quarter primarily due to higher software amortization and higher software support and rental expense.

Other operating expense decreased sequentially primarily due to the previously disclosed notable items recorded in the prior quarter. Other operating expense decreased compared to the prior-year quarter primarily due to a decrease in account servicing activities and the impact of reclassifying the amortization of certain investments from other operating expense to the provision for income taxes, in accordance with a new accounting standard that took effect in 2024.

PROVISION FOR INCOME TAXES

($ In Millions)

Net Income

Income before Income Taxes

$

$

$

%

Provision for Income Taxes

Net Income

$

$

$

%

Effective Tax Rate

%

%

%

bps

bps

bps - basis points

The effective tax rate decreased both sequentially and compared to the prior-year quarter primarily due to higher current year benefits.

5

NORTHERN TRUST CORPORATION THIRD QUARTER 2024 RESULTS

CAPITAL ACTIONS

The Corporation returned approximately $453.0 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 $151.6 million to common stockholders. The Corporation repurchased 3,463,546 shares of common stock, including 15,629 withheld to satisfy tax withholding obligations related to share-based compensation, at a total cost of $301.4 million ($87.01 average price per share).

The Corporation also declared cash dividends totaling $16.2 million to preferred stockholders during the current quarter.

CAPITAL RATIOS

The capital ratios of Northern Trust Corporation and its principal subsidiary, The Northern Trust Company, remained strong at September 30, 2024, exceeding the minimum requirements for classification as “well-capitalized” under applicable U.S. regulatory requirements.

The table below provides capital ratios, as well as the required minimum capital ratios, for Northern Trust Corporation and The Northern Trust Company determined by Basel III phased-in requirements.

Capital Ratios -

Northern Trust Corporation

Standardized Approach

Advanced Approach

Standardized Approach

Advanced Approach

Standardized Approach

Advanced Approach

Well-Capitalized Ratios

Minimum Capital Ratios

Common Equity Tier 1 Capital

%

%

%

%

%

%

N/A

%

Tier 1 Capital

Total Capital

Tier 1 Leverage

N/A

Supplementary Leverage

N/A

N/A

N/A

N/A

Capital Ratios -

The Northern Trust Company

Standardized Approach

Advanced Approach

Standardized Approach

Advanced Approach

Standardized Approach

Advanced Approach

Well-Capitalized Ratios

Minimum Capital Ratios

Common Equity Tier 1 Capital

%

%

%

%

%

%

%

%

Tier 1 Capital

Total Capital

Tier 1 Leverage

Supplementary Leverage

N/A

N/A

N/A

(*) Capital ratios for the current quarter are considered preliminary until the Form 10-Q is filed with the Securities and Exchange Commission.

6

NORTHERN TRUST CORPORATION THIRD QUARTER 2024 RESULTS

RECONCILIATION TO FULLY TAXABLE EQUIVALENT

The following table presents a reconciliation of interest income, net interest income, net interest margin, and total revenue 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

($ in Millions)

THIRD

SECOND

FIRST

FOURTH

THIRD

Net Interest Income

Interest Income - GAAP

$

$

$

$

$

Add: FTE Adjustment

Interest Income (FTE) - Non-GAAP

$

$

$

$

$

Net Interest Income - GAAP

$

$

$

$

$

Add: FTE Adjustment

Net Interest Income (FTE) - Non-GAAP

$

$

$

$

$

Net Interest Margin - GAAP(1)

%

%

%

%

%

Net Interest Margin (FTE) - Non-GAAP(1)

%

%

%

%

%

Total Revenue

Total Revenue - GAAP

$

$

$

$

$

Add: FTE Adjustment

Total Revenue (FTE) - Non-GAAP

$

$

$

$

$

(1)Net interest margin is calculated by dividing annualized net interest income by average interest-earning assets.

7

NORTHERN TRUST CORPORATION THIRD QUARTER 2024 RESULTS

FORWARD LOOKING STATEMENTS

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 THIRD QUARTER EARNINGS CONFERENCE CALL

Northern Trust’s third quarter earnings conference call will be webcast on October 23, 2024.

The live call will be conducted at 8:30 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 September 30, 2024, Northern Trust had assets under custody/administration of US$17.4 trillion, and assets under management of US$1.6 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 X (formerly Twitter) @NorthernTrust or Northern Trust Corporation 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.

8

NORTHERN TRUST CORPORATION

(Supplemental Consolidated Financial Information)

STATEMENT OF INCOME DATA

% Change(1)

($ In Millions Except Per Share Data)

Noninterest Income

Trust, Investment and Other Servicing Fees

$

$

$

3

%

8

%

Foreign Exchange Trading Income

(7)

4

Treasury Management Fees

(9)

9

Security Commissions and Trading Income

4

Other Operating Income

Investment Security Gains (Losses), net

—

—

N/M

N/M

Total Noninterest Income

Net Interest Income

Interest Income

1

Interest Expense

(1)

Net Interest Income

8

Total Revenue

Provision for Credit Losses

—

Noninterest Expense

Compensation

5

Employee Benefits

9

8

Outside Services

(2)

Equipment and Software

(3)

Occupancy

(2)

(8)

Other Operating Expense

Total Noninterest Expense

6

Income before Income Taxes

Provision for Income Taxes

NET INCOME

$

$

$

%

%

Preferred Stock Dividends

N/M

—

NET INCOME APPLICABLE TO COMMON STOCK

$

$

$

%

%

Earnings Allocated to Participating Securities

Earnings Allocated to Common and Potential Common Shares

$

$

$

%

%

Per Common Share

Net Income

Basic

$

$

$

%

%

Diluted

Average Common Equity

$

$

$

1

%

9

%

Return on Average Common Equity

%

%

%

Return on Average Assets

%

%

%

Cash Dividends Declared per Common Share

$

$

$

—

%

—

%

Average Common Shares Outstanding (000s)

Basic

(2)

%

(3)

%

Diluted

(2)

(3)

Common Shares Outstanding (EOP) (000s)

(2)

(4)

(1) Percentage calculations are based on actual balances rather than the rounded amounts presented in the table above.

N/M - Not meaningful

EOP - End of period

9

NORTHERN TRUST CORPORATION

(Supplemental Consolidated Financial Information)

STATEMENT OF INCOME DATA

($ In Millions Except Per Share Data)

NINE MONTHS

% Change(1)

Noninterest Income

Trust, Investment and Other Servicing Fees

$

$

7

%

Foreign Exchange Trading Income

9

Treasury Management Fees

Security Commissions and Trading Income

6

Other Operating Income

N/M

Investment Security Gains (Losses), net

N/M

Total Noninterest Income

Net Interest Income

Interest Income

Interest Expense

Net Interest Income

8

Total Revenue

Provision for Credit Losses

Noninterest Expense

Compensation

7

Employee Benefits

2

Outside Services

Equipment and Software

Occupancy

(6)

Other Operating Expense

Total Noninterest Expense

9

Income before Income Taxes

Provision for Income Taxes

NET INCOME

$

$

%

Preferred Stock Dividends

—

NET INCOME APPLICABLE TO COMMON STOCK

$

$

%

Earnings Allocated to Participating Securities

Earnings Allocated to Common and Potential Common Shares

$

$

%

Per Common Share

Net Income

Basic

$

$

%

Diluted

Average Common Equity

$

$

7

%

Return on Average Common Equity

%

%

Return on Average Assets

%

%

Cash Dividends Declared per Common Share

$

$

—

%

Average Common Shares Outstanding (000s)

Basic

(2)

%

Diluted

(2)

Common Shares Outstanding (EOP) (000s)

(4)

(1)Percentage calculations are based on actual balances rather than the rounded amounts presented in the table above.

N/M - Not meaningful

EOP - End of period

NORTHERN TRUST CORPORATION

(Supplemental Consolidated Financial Information)

BALANCE SHEET

($ In Millions)

% Change(1)

Assets

Federal Reserve and Other Central Bank Deposits

$

$

$

(5)

%

%

Interest-Bearing Due from and Deposits with Banks(2)

(2)

5

Securities Purchased under Agreements to Resell

Debt Securities

Available for Sale

5

Held to Maturity

—

(9)

Trading Account

—

—

N/M

Total Debt Securities

3

4

Loans

—

(4)

Other Interest-Earning Assets(3)

Total Earning Assets

(1)

6

Allowance for Credit Losses

8

6

Cash and Due from Banks and Other Central Bank Deposits(4)

Buildings and Equipment

—

3

Client Security Settlement Receivables

Goodwill

1

2

Other Assets

(1)

(6)

Total Assets

$

$

$

(1)

%

6

%

Liabilities and Stockholders’ Equity

Interest-Bearing Deposits

Savings, Money Market and Other

$

$

$

%

(5)

%

Savings Certificates and Other Time

(2)

Non-U.S. Offices - Interest-Bearing

3

Total Interest-Bearing Deposits

(3)

Federal Funds Purchased

Securities Sold under Agreements to Repurchase

Other Borrowings(5)

1

—

Senior Notes

3

5

Long-Term Debt

—

—

Total Interest-Bearing Liabilities

(3)

6

Demand and Other Noninterest-Bearing Deposits

6

6

Other Liabilities

Total Liabilities

(1)

6

Common Equity

1

8

Preferred Equity

—

—

Total Equity

1

8

Total Liabilities and Stockholders’ Equity

$

$

$

(1)

%

6

%

(1) Percentage calculations are based on actual balances rather than the rounded amounts presented in the table above.

(2) 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.

(3) 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.

(4) 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.

(5) Other Borrowings primarily includes advances from the Federal Home Loan Bank of Chicago.

NORTHERN TRUST CORPORATION

(Supplemental Consolidated Financial Information)

AVERAGE BALANCE SHEET

($ In Millions)

% Change(1)

Assets

Federal Reserve and Other Central Bank Deposits

$

$

$

—

%

%

Interest-Bearing Due from and Deposits with Banks(2)

(3)

Federal Funds Sold

Securities Purchased under Agreements to Resell

3

Debt Securities

Available for Sale

3

Held to Maturity

(2)

Trading Account

—

—

—

Total Debt Securities

1

—

Loans

(3)

(6)

Other Interest-Earning Assets(3)

(1)

Total Earning Assets

—

5

Allowance for Credit Losses

3

6

Cash and Due from Banks and Other Central Bank Deposits(4)

(3)

3

Buildings and Equipment

(1)

2

Client Security Settlement Receivables

4

(4)

Goodwill

1

1

Other Assets

(5)

1

Total Assets

$

$

$

(1)

%

5

%

Liabilities and Stockholders’ Equity

Interest-Bearing Deposits

Savings, Money Market and Other

$

$

$

(8)

%

%

Savings Certificates and Other Time

Non-U.S. Offices - Interest-Bearing

2

Total Interest-Bearing Deposits

(1)

Federal Funds Purchased

Securities Sold under Agreements to Repurchase

Other Borrowings(5)

—

Senior Notes

2

3

Long-Term Debt

—

Total Interest-Bearing Liabilities

(1)

5

Demand and Other Noninterest-Bearing Deposits

(1)

(3)

Other Liabilities

3

7

Total Liabilities

(1)

4

Common Equity

1

9

Preferred Equity

—

—

Total Equity

1

8

Total Liabilities and Stockholders’ Equity

$

$

$

(1)

%

5

%

(1) Percentage calculations are based on actual balances rather than the rounded amounts presented in the table above.

(2) 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.

(3) 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.

(4) 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.

(5) Other Borrowings primarily includes advances from the Federal Home Loan Bank of Chicago.

NORTHERN TRUST CORPORATION

(Supplemental Consolidated Financial Information)

QUARTERLY TREND DATA

QUARTERS

($ In Millions Except Per Share Data)

THIRD

SECOND

FIRST

FOURTH

THIRD

Net Income Summary

Trust, Investment and Other Servicing Fees

$

$

$

$

$

Other Noninterest Income

Net Interest Income

Total Revenue

Provision for Credit Losses

Noninterest Expense

Income before Income Taxes

Provision for Income Taxes

Net Income

$

$

$

$

$

Per Common Share

Net Income - Basic

$

$

$

$

$