Northern Trust Q1 net income falls 36% to $214.7 million; EPS $0.96
Northern Trust reported first-quarter 2024 net income of $214.7 million, or $0.96 per diluted share, down from $334.6 million and $1.51 per share in the first quarter of 2023, but up from $113.1 million and $0.52 in the fourth quarter of 2023. Results included a $189.4 million pre-tax loss on securities sold in a portfolio repositioning and a $12.5 million increase in the FDIC special assessment, while total revenue on a fully taxable equivalent basis was $1,654.1 million, down 6% from a year earlier. The company also declared $153.4 million in common dividends and repurchased shares at a total cost of $132.0 million during the quarter.
Key points
- Diluted earnings per share were $0.96, compared with $1.51 in Q1 2023 and $0.52 in Q4 2023.
- A $189.4 million pre-tax loss on available-for-sale debt securities sold in a portfolio repositioning reduced investment security results.
- Trust, investment and other servicing fees rose 7% year over year to $1,142.9 million.
- Assets under custody/administration were $16.5 trillion as of March 31, 2024.
The filing
Written by AI on Nov 8, 2026, 1:10 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on April 16, 2024.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.