secwatch.observer — SEC 8-K summary
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Issuer:     NORTHERN TRUST CORP (NTRS)
CIK:        0000073124
Form:       8-K
Filed at:   2023-04-25T23:59:59+00:00
Accession:  0000073124-23-000099
Event type: earnings
Sentiment:  negative
Materiality: 0.85
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Northern Trust Q1 earnings: net income $334.6M, EPS $1.51, revenue up 2% but fees down 9%
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- Net income $334.6M ($1.51 diluted EPS) vs $389.3M ($1.77) YoY; total revenue (FTE) $1.76B up 2% YoY.
- Trust, investment and other servicing fees $1.06B down 9% YoY on lower market values and asset outflows.
- Net interest income $544.4M up 40% YoY driven by higher rates; net interest margin 1.62%.
- Provision for credit losses $15M, up from $2M a year ago, primarily on commercial real estate growth.
- Return on avg common equity 12.4% (vs 14.2% YoY); CET1 ratio 11.3%; returned $259.5M to shareholders.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/73124/000007312423000099/0000073124-23-000099-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/73124/000007312423000099/ntrs-20230425.htm
  HTML page:      https://secwatch.observer/filing/0000073124-23-000099

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