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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 NORTHERN TRUST CORPORATION REPORTS THIRD QUARTER NET INCOME OF $ 395.7 MILLION , EARNINGS PER DILUTED COMMON SHARE OF $ 1.80 Total Revenue up 10 % YoY FINANCIAL SUMMARY & KEY METRICS CHICAGO , OCTOBER 20 , 2021 - Northern Trust Corporation today reported third quarter net income per diluted common share of $ 1.80 , compared to $ 1.72 in the second quarter of 2021 and $ 1.32 in the third quarter of 2020. Net income was $ 395.7 million , compared to $ 368.1 million in the prior quarter and $ 294.5 million in the prior - year quarter . ( $ In Millions except per share data ) Trust , Investment and Other Servicing Fees Other Noninterest Income MICHAEL O'GRADY , CHAIRMAN AND CHIEF EXECUTIVE OFFICER : " Northern Trust's performance in the third quarter reflected the continued strength of our company and growth across each of our businesses . The results produced strong growth in earnings and a return on average common equity of 13.7 % . Revenue grew by 10 % compared to last year , as new business continued to contribute to growth in our trust , investment and other servicing fees . Net interest income also increased on a year - over - year basis for the first time since the end of 2019 , driven by growth in our balance sheet in support of our clients ' liquidity needs . The quarter's results compared to the prior year produced positive fee and total operating leverage , and solid improvements in profitability and returns , despite the persistent low interest rate environment . We achieved these results while continuing to focus on delivering exceptional services and solutions to our clients , driving efficiency , and investing for future profitable growth . " Net Interest Income ( FTE * ) Total Revenue ( FTE * ) Noninterest Expense Provision for Credit Losses Provision for Income Taxes FTE Adjustment * Net Income Return on Average Common Equity 13.7 % Earnings Allocated to Common and Potential Common Shares Diluted Earnings per Common Share Return on Average Common Equity Return on Average Assets Average Assets $ $ $ $ Q3 2021 1,111.0 $ 176.4 357.1 1,644.5 $ $ $ 1,128.7 ( 13.0 ) 122.4 10.7 395.7 $ Common Equity Tier 1 Capital 11.9 % $ $ $ Q2 2021 1,075.4 $ 169.3 343.9 1,588.6 $ 1,120.8 ( 27.0 ) 118.4 $ 8.3 368.1 $ NORTHERN TRUST Q3 2020 1,003.8 152.7 336.5 1,493.0 376.5 1.80 13.7 % 1.00 % 360.2 $ 1.72 $ 13.7 % 0.96 % 275.0 1.32 10.5 % 0.83 % $ 156,452.8 $ 154,300.1 $ 140,925.4 1,094.7 0.5 95.4 7.9 294.5 % Change Q3 2021 vs. Q2 2021 3 % 4 4 4 % 1 % N / M 3 28 7 % 5 % 5 % 1 % Q3 2020 11 % 16 6 10 % 3 % N / M 28 36 34 % 37 % 37 % 11 % 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 .