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Mar 31, 2024
Northern Trust Q1 2024 Earnings Report
Northern Trust reported solid first quarter results, with trust fees growing and net interest income increasing due to higher deposit levels.
Key Takeaways
Northern Trust Corporation reported a first quarter net income of $214.7 million, with earnings per diluted common share of $0.96. The results included a pre-tax loss on available for sale debt securities and an increase to the FDIC special assessment.
Trust fees grew sequentially and year over year, supported by equity markets.
Net interest income grew sequentially due to higher deposit levels.
First quarter results included a $189.4 million pre-tax loss on available for sale debt securities.
First quarter results included a $12.5 million pre-tax increase to the Federal Deposit Insurance Corporation (FDIC) special assessment.
Revenue by Segment
Forward Guidance
As we start the second quarter, we remain focused on further optimizing our growth, strengthening our resiliency and driving greater productivity.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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