secwatch.observer — SEC 8-K summary
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Issuer:     NORTHERN TRUST CORP (NTRS)
CIK:        0000073124
Form:       8-K/A
Filed at:   2024-04-17T23:59:59+00:00
Accession:  0000073124-24-000132
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Northern Trust Q1 net income $214.7M, EPS $0.96, down 36% YoY on $189M AFS loss
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- Net income $214.7M ($0.96 diluted EPS) vs $334.6M ($1.51) a year ago; revenue (FTE) $1,654.1M, down 6% YoY.
- Trust fees $1,142.9M, up 7% YoY, driven by favorable markets and asset inflows; AUM $1.50T, up 13% YoY.
- Noninterest expense $1,364.7M, up 6% YoY; includes $12.5M FDIC special assessment.
- Net interest income (FTE) $535.4M, down 2% YoY; net interest margin 1.61% vs 1.62%.
- Pre-tax loss of $189.4M on AFS debt securities sold in portfolio repositioning; provision benefit of $8.5M.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/73124/000007312424000132/0000073124-24-000132-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/73124/000007312424000132/ntrs-20240416.htm
  HTML page:      https://secwatch.observer/filing/0000073124-24-000132

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