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Northern Trust 8-K Report, Regulation FD Disclosure (Apr 22, 2025)

Reports
Regulation FD·Exhibits & Filings
Filing Date
Filed April 22, 2025
Period End
April 22, 2025
Securities
NTRSNTRSO
In the record · 2016–202610-K1110-Q338-K118

NTRS filed 11 annual reports (10-K), 33 quarterly reports (10-Q) and 118 current reports (8-K) between 2016 and 2026.

  1. Leadership change8-K · May ’22May ’22
  2. Leadership change8-K · Oct ’26Oct ’26

01—Abstract

Summary

Summary of the 8-K filed April 22, 2025. Cited figures are marked; the original filing is the authoritative source.

On April 22, 2025, Chairman and Chief Executive Officer Michael G.

O'Grady spoke at Northern Trust Corporation's Annual Meeting of Stockholders. The slides he presented are furnished as Exhibit 99.1 under Item 7.01 (Regulation FD Disclosure). The filing states that this information is furnished and not deemed filed for purposes of Section 18 of the Securities Exchange Act of 1934.

The presentation covers full-year 2024 financial performance, balance sheet and capital highlights, strategic objectives, critical enablers, and an appendix of notable items. For full-year 2024, the slides report noninterest income of $6,113 milliona (up 28%), net interest income of $2,177 million (up 10%), and total revenue of $8,290 million (up 22%). Total noninterest expense was $5,634 million (up 7%), provision for income taxes was $628 million (up 76%), and net income was $2,031 million (up 83%).

Diluted earnings per share were $9.77b (up 92%), and return on average common equity was 17.4% (up 740 bps). The slides state that GAAP results include the impact of notable items. As of December 31, 2024, the slides show a Common Equity Tier 1 ratio of 12.4% under the Standardized Approach and 14.5% under the Advanced Approach, against a 4.5% minimum requirement.

Tier 1 Capital was 13.3% and 15.6%, Total Capital was 15.1% and 17.4%, and the Tier 1 Leverage ratio was 8.1% against a 4.0% minimum. The appendix shows pre-tax notable items totaling $730.2 millionc in revenue and $194.7 million in expense for 2024, including a $865.6 million net gain related to the Visa, Inc. exchange offer, $(189.4) million of AFS securities losses, an $85.2 million severance charge, and a $70.0 million Northern Trust Foundation donation.

02—Key points

Key Highlights

  1. Full-year 2024 net income was $2,031 million, up 83%, and diluted EPS was $9.77, up 92%.
  2. Total revenue was $8,290 million, up 22%, led by noninterest income of $6,113 million, up 28%.
  3. Return on average common equity was 17.4%, up 740 bps.
  4. Total noninterest expense was $5,634 million, up 7%.
  5. Common Equity Tier 1 was 12.4% (Standardized) and 14.5% (Advanced) as of December 31, 2024, against a 4.5% minimum requirement.
  6. Pre-tax notable items added $730.2 million to 2024 revenue, including an $865.6 million net gain related to the Visa, Inc. exchange offer, partly offset by $(189.4) million of AFS securities losses; 2024 expense notable items totaled $194.7 million.

03—Questions

Frequently Asked Questions

  1. What did the Chairman and CEO present at the 2025 Annual Meeting of Stockholders?

    Michael G. O'Grady presented slides at the Annual Meeting on April 22, 2025, at approximately 10:30 a.m. (CT). The slides are attached as Exhibit 99.1, and a webcast replay is available for 30 days from the presentation date on the Investor Relations section of the company's website.

  2. How did Northern Trust perform financially in 2024?

    The slides report 2024 net income of $2,031 million (up 83%), diluted EPS of $9.77 (up 92%), total revenue of $8,290 million (up 22%), and return on average common equity of 17.4% (up 740 bps) compared with 2023. Provision for credit losses was $(3) million, which the slides label not meaningful for comparison.

  3. How strong were the company's capital ratios at year-end 2024?

    As of December 31, 2024, Common Equity Tier 1 was 12.4% under the Standardized Approach and 14.5% under the Advanced Approach, against a 4.5% minimum. Tier 1 Leverage was 8.1% against a 4.0% minimum, and Supplementary Leverage under the Advanced Approach was 8.9% against a 3.0% minimum.

  4. What notable items affected 2024 reported results?

    The appendix lists pre-tax notable items of $730.2 million in revenue, including an $865.6 million net gain related to the Visa, Inc. exchange offer and a $68.1 million gain on sale of an equity investment, offset by $(189.4) million of AFS securities losses. Expense notable items totaled $194.7 million, including an $85.2 million severance charge and a $70.0 million Northern Trust Foundation donation.

04—Continue

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