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NEWS RELEASE www.northerntrust.com INVESTOR CONTACT : Mark Bette | 312-444-2301 | Mark_Bette@ntrs.com MEDIA CONTACT : Doug Holt | 312-557-1571 | Doug_Holt@ntrs.com Exhibit 99.1 Z ++ NORTHERN TRUST NORTHERN TRUST CORPORATION REPORTS FIRST QUARTER NET INCOME OF $ 375.1 MILLION , EARNINGS PER DILUTED COMMON SHARE OF $ 1.70 Trust , Investment and Other Servicing Fees up 6 % YoY Common Equity Tier 1 Capital 12.0 % Return on Average Common Equity 13.7 % CHICAGO , APRIL 20 , 2021 — Northern Trust Corporation today reported first quarter net income per diluted common share of $ 1.70 , compared to $ 1.12 in the fourth quarter of 2020 and $ 1.55 in the first quarter of 2020. Net income was $ 375.1 million , compared to $ 240.9 million in the prior quarter and $ 360.6 million in the prior - year quarter . MICHAEL O'GRADY , CHAIRMAN AND CHIEF EXECUTIVE OFFICER : " Northern Trust's asset and fee growth performed well as we continued to navigate through the operational and low interest rate challenges posed by the COVID - 19 global pandemic . Revenue was consistent with the prior year , as declines in net interest income and trading related revenue were offset by a 6 % increase in trust , investment and other servicing fees , primarily driven by organic growth . In support of our growth , expense increased 5 % . Our strong capital base and liquidity position enabled us to support the needs of our clients , and this was demonstrated further during the quarter as we saw continued growth in client activity . The quarter also benefited from an improved outlook in projected economic conditions driving a release of reserves for credit losses , all of which combined to achieve 4 % growth in net income and 9 % growth in diluted earnings per common share versus last year and a return on average common equity of 13.7 % . Performance reflected continued excellent work by Northern Trust employees worldwide to serve the needs of our clients . We continued to focus on enhancing efficiency and investing for future profitable growth . " FINANCIAL SUMMARY & KEY METRICS % Change Q1 2021 vs. ( $ In Millions except per share data ) Q1 2021 Trust , Investment and Other Servicing Fees $ 1,063.7 $ Q4 2020 1,026.1 $ Q1 2020 1,003.6 Q4 2020 Q1 2020 Other Noninterest Income 179.6 Net Interest Income ( FTE * ) 346.7 161.4 345.1 176.0 4 % 11 6 % 2 416.2 ( 17 ) Total Revenue ( FTE * ) $ 1,590.0 $ 1,532.6 $ 1,595.8 4 % ― % Noninterest Expense $ 1,117.5 $ 1,151.0 $ 1,065.6 ( 3 ) % 5 % Provision for Credit Losses ( 30.0 ) ( 2.5 ) 61.0 N / M N / M Provision for Income Taxes 120.8 132.5 100.5 ( 9 ) 20 FTE Adjustment * 6.6 10.7 8.1 ( 38 ) ( 18 ) Net Income $ 375.1 $ 240.9 $ 360.6 56 % 4 % Earnings Allocated to Common and Potential Common Shares Diluted Earnings per Common Share Return on Average Common Equity Return on Average Assets Average Assets $ 355.2 $ $ 1.70 $ $ 13.7 % 0.99 % 153,255.8 234.7 $ 1.12 $ 8.8 % 0.67 % 326.2 51 % 9 % 1.55 13.4 % 51 % 9 % 1.17 % $ 143,262.0 $ 124,170.5 7 % 23 % N / M - Not meaningful ( * ) Net interest income and total revenue presented on a fully taxable equivalent ( FTE ) basis are non - generally accepted accounting principle financial measures that facilitate the analysis of asset yields . Please refer to the Reconciliation to Fully Taxable Equivalent section for further detail .