Northern Trust Corporation · NASDAQ:NTRS
Northern Trust — Q2 2026 Earnings Presentation
13 slides from Northern Trust's earnings presentation, Jul 22, 2026
Slide 1: Financial Trends Second Quarter 2026
Financial Trends Second Quarter 2026 July 22, 2026 The historical financial results and trends reflected in this report are not indicative of future financial results and trends for Northern Trust Corporation. This report should be read in conjunction with the Corporation's Second Quarter 2026 earni
Slide 2: Table of Contents
TABLE OF CONTENTS 1 7 Financial Summary Interest Rate Trends 2 8 Net Income Trends Asset Quality 3 9 Reporting Segment Results Client Assets 4 10 Balance Sheet (EOP) Reconciliation to FTE 5 11 Regulatory Capital Reconciliation to FTE (Ratios) 6 Balance Sheet Trends
Slide 3: Financial Summary
Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2026 Q2 2025 2026 2025 % Change $ 792.2 $ 525.5 $ 466.0 $ 457.6 $ 421.3 51 % 88 % $ 1,317.8 $ 813.3 62 % 782.2 504.7 457.0 437.2 412.8 55 % 90 % 1,287.1 785.0 64 % 183,994 185,499 187,532 190,054 192,752 (1)% (5)% 184,742 193,966 (5)% 184,890 186,539 188,58
Slide 4: Net Income Trends
% Change(2) Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2026 Q2 2025 2026 2025 % Change(2) $ 757.4 $ 740.5 $ 729.6 $ 706.9 $ 691.8 2 % 9 % $ 1,497.9 $ 1,363.7 10 % 592.1 600.9 577.8 558.6 539.3 (1)% 10 % 1,193.0 1,081.2 10 % Total Fees 1,349.5 1,341.4 1,307.4 1,265.5 1,231.1 1 % 10 % 2,690.9 2,444.9
Slide 5: Reporting Segment Results
Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2026 Q2 2025 2026 2025 % Change $ 512.3 $ 497.6 $ 496.4 $ 482.7 $ 469.2 3 % 9 % $ 1,009.9 $ 922.5 9 % 172.2 169.2 165.8 159.6 157.3 2 % 10 % 341.4 309.8 10 % 29.4 23.3 23.1 21.2 20.2 26 % 46 % 52.8 38.1 39 % 43.5 50.4 44.3 43.4 45.1 (14)% (3)% 93.8 93.3 1 %
Slide 6: Balance Sheet (End of Period)
6/30/2026 3/31/2026 12/31/2025 9/30/2025 6/30/2025 3/31/2026 6/30/2025 $ 50,556.4 $ 41,757.3 $ 53,456.0 $ 49,328.9 $ 52,265.5 21 % (3)% 6,160.0 6,343.0 6,540.8 6,404.5 6,800.9 (3)% (9)% 426.5 1,678.9 2,654.1 1,856.3 921.9 (75)% (54)% Available For Sale 38,123.1 36,913.2 34,036.5 32,889.2 32,250.4 3
Slide 7: Regulatory Capital
6/30/2026 3/31/2026 12/31/2025 9/30/2025 6/30/2025 3/31/2026 6/30/2025 Common Equity Tier 1 Capital $ 11,605.6 $ 11,173.5 $ 11,192.5 $ 11,199.3 $ 11,108.2 4 % 4 % Tier 1 Capital 12,418.7 11,995.5 12,008.5 12,028.1 11,938.5 4 % 4 % Total Capital 14,706.5 14,288.1 14,304.2 13,581.9 13,508.9 3 % 9 % Ri
Slide 8: Balance Sheet Trends
% Change(5) Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2026 Q2 2025 2026 2025 % Change(5) $ 38,322.9 $ 42,554.7 $ 35,035.8 $ 33,754.2 $ 43,655.3 (10)% (12)% $ 40,427.1 $ 40,426.1 — % 6,304.2 6,014.6 6,049.6 5,237.7 5,321.5 5 % 18 % 6,160.2 5,100.7 21 % 521.9 1,186.8 1,593.7 1,300.4 713.2 (56)% (27)%
Slide 9: Interest Rate Trends
Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2026 Q2 2025 2026 2025 % Change 3.44 % 3.46 % 3.63 % 3.84 % 4.01 % (2) bps (57) bps 3.45 % 4.07 % (62) bps 1.16 % 1.31 % 1.35 % 1.57 % 1.64 % (15) bps (48) bps 1.23 % 1.79 % (56) bps 602.18 % 282.59 % 183.61 % 217.12 % 389.92 % 31,959 bps 21,226 bps 380.96
Slide 10: Asset Quality
6/30/2026 3/31/2026 12/31/2025 9/30/2025 6/30/2025 3/31/2026 6/30/2025 $ 195.2 $ 198.3 $ 206.7 $ 224.1 $ 207.3 (2)% (6)% (5.3) (3.0) (8.0) (17.0) 16.5 N/M N/M (0.2) (0.4) (1.4) (2.1) (0.1) (50)% 100 % 0.6 0.3 1.0 1.7 0.4 100 % 50 % 0.4 (0.1) (0.4) (0.4) 0.3 N/M 33 % Ending Allowance for Credit Losse
Slide 11: Client Assets
6/30/2026 3/31/2026 12/31/2025 9/30/2025 6/30/2025 3/31/2026 6/30/2025 $ 1,436.0 $ 1,287.3 $ 1,296.0 $ 1,280.1 $ 1,229.2 12 % 17 % Equities 787.0 688.3 712.6 702.5 666.7 14 % 18 % Fixed Income Securities 140.1 138.8 140.3 136.4 131.9 1 % 6 % Cash and Other Assets 269.8 244.2 235.3 235.1 225.2 10 % 2
Slide 12: Reconciliation to FTE
Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2026 Q2 2025 2026 2025 % Change $ 2,189.3 $ 2,234.0 $ 2,126.6 $ 2,144.3 $ 2,212.8 (2)% (1)% $ 4,423.4 $ 4,353.7 2 % 7.6 7.6 12.7 5.5 4.7 — % 62 % 15.2 10.3 48 % Interest Income (FTE) - Non-GAAP 2,196.9 2,241.6 2,139.3 2,149.8 2,217.5 (2)% (1)% 4,438.6 4,364
Slide 13: Reconciliation to FTE (Ratios)
Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q4 2025 Q1 2025 2026 2025 Change Pre-Tax Margin - GAAP (1) 39.5 % 31.8 % 29.9 % 30.6 % 28.3 % 7.7 pts 11.2 pts 36.0 % 27.6 % 8.4 pts Pre-Tax Margin (FTE) - Non-GAAP (1) 39.6 % 32.0 % 30.3 % 30.8 % 28.4 % 7.6 pts 11.2 pts 36.2 % 27.8 % 8.4 pts Effective Tax Rat