Northern Trust Q2 net income $792M, EPS $4.23 vs $2.13 YoY; dividend raised 10%

NORTHERN TRUST CORP

Net income $792.2M, diluted EPS $4.23 vs $2.71 Q1 and $2.13 Q2 2025; revenue (FTE) $2.7B, up 35% YoY.
Notable items: $525.4M pre-tax gain from Visa exchange offer, $73.9M loss on AFS debt securities sale, $61.5M software charge, $51M severance.
Trust fees $1.35B, up 10% YoY; net interest income $683M, up 11% YoY; net interest margin 1.81% vs 1.69% YoY.
Board approved 10% dividend increase to $0.88/share; returned over $1B to shareholders in H1 2026.
Assets under custody/administration $20.0T, up 11% YoY; AUM $1.97T, up 16% YoY; ROACE 25.9%.

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