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Northern Trust 8-K Report, Financial Results (Jan 22, 2026)

Reports
Earnings & Results·Regulation FD·Exhibits & Filings
Filing Date
Filed January 22, 2026
Period End
January 22, 2026
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 · Feb ’25Feb ’25

01—Abstract

Summary

Summary of the 8-K filed January 22, 2026. Cited figures are marked; the original filing is the authoritative source.

Northern Trust Corporation reported fourth-quarter 2025 net income of $466.0 milliona, or $2.42 per diluted common share, compared with $2.29 in the third quarter of 2025 and $2.26 in the fourth quarter of 2024.

Results included notable items: $19.2 millionb (pre-tax) of expense related to Visa Class B swaps, and $49.3 million (pre-tax) of net noninterest expense notables, consisting of $58.8 million of severance-related charges partly offset by a $9.5 million release of the FDIC special assessment reserve. Total revenue on an FTE basis was $2,135.8 million, up 5% sequentially and 8% year over year, while noninterest expense rose to $1,497.3 million. Net interest income on an FTE basis increased 10% sequentially to $654.3 million, and the company cited higher deposits and lower funding costs.

Chairman and CEO Michael O'Grady said the company achieved positive operating leverage and returned record capital to shareholders. For full-year 2025, net income was $1,736.9 millionc, or $8.74 per diluted share, down from $2.031.1 million in 2024 with diluted EPS of $9.77. Full-year total revenue on an FTE basis was $8,114.9 million, compared with $8,322.2 million in 2024, reflecting a large Other Operating Income of $1,157.4 million in 2024 that did not recur at the same level in 2025 ($207.7 million).

Assets under custody/administration reached $18,716.1 milliond and assets under management reached $1,803.2 million at December 31, 2025, both up year over year. Common equity Tier 1 ratio under the standardized approach was 12.6%. The company declared $151.8 million in common dividends and repurchased $369.8 million of common stock in the quarter.

The filing furnishes three exhibits: a press release with the earnings results, presentation materials covering a strategy update and fourth-quarter review, and a financial trends report with historical data. The company stated that the Q4 2025 client asset and regulatory capital figures are preliminary until its Form 10-K is filed.

02—Key points

Key Highlights

  1. Q4 2025 diluted EPS was $2.42, up from $2.29 in Q3 2025 and $2.26 in Q4 2024; net income was $466.0 million.
  2. Total revenue (FTE) was $2,135.8 million, up 5% from Q3 2025 and 8% from Q4 2024; net interest income (FTE) rose 10% sequentially to $654.3 million.
  3. Noninterest expense was $1,497.3 million, including $58.8 million of severance-related charges and a $9.5 million FDIC special assessment reserve release.
  4. Full-year 2025 net income was $1,736.9 million ($8.74 diluted EPS) versus $2,031.1 million ($9.77) in 2024, reflecting the absence of prior-year Other Operating Income of $1,157.4 million.
  5. Assets under custody/administration reached $18.7 trillion and assets under management reached $1.8 trillion at December 31, 2025, up 11% and 12% year over year, respectively.
  6. Q4 2025 capital returns totaled $521.6 million, including $151.8 million in common dividends and $369.8 million in share repurchases; CET1 ratio (standardized) was 12.6%.
  7. Return on average common equity was 15.4% in Q4 2025 versus 14.8% in Q3 2025 and 15.3% in Q4 2024.

03—Questions

Frequently Asked Questions

  1. How did Northern Trust perform in the fourth quarter of 2025?

    The company reported net income of $466.0 million, or $2.42 per diluted share, compared with $2.29 in the prior quarter and $2.26 in the year-earlier quarter. Results included a $19.2 million pre-tax Visa Class B swap expense and net noninterest expense notables of $49.3 million.

  2. What were the main notable items affecting results?

    The quarter included $19.2 million (pre-tax) of expense related to Visa Class B swaps and $49.3 million (pre-tax) of net noninterest expense notables, made up of $58.8 million of severance-related charges less a $9.5 million release of the FDIC special assessment reserve.

  3. How did full-year 2025 results compare with 2024?

    Net income for 2025 was $1,736.9 million, or $8.74 per diluted share, compared with $2,031.1 million, or $9.77, in 2024. Total revenue (FTE) was $8,114.9 million versus $8,322.2 million, reflecting lower Other Operating Income ($207.7 million versus $1,157.4 million).

  4. What drove growth in net interest income?

    The company attributed the sequential increase in fourth-quarter net interest income (FTE) to higher deposits, a favorable deposit mix and lower funding costs, partially offset by lower foreign exchange swap activity executed by its Treasury department.

  5. How much capital did Northern Trust return to shareholders?

    In the fourth quarter, the company returned $521.6 million to common shareholders through dividends and share repurchases, including $151.8 million in declared common dividends and $369.8 million for 2,850,093 repurchased shares. It also declared $4.7 million in preferred dividends.

04—Continue

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