Net Interest Margin (Fully Taxable Equivalent Basis2)
1.56
1.39
DECEMBER 31, 2023
DECEMBER 31, 2022
CAPITAL RATIOS
Standardized
Advanced
Standardized
Advanced
Approach
Approach
Approach
Approach
Common Equity Tier 1 Capital
11.4%
13.4%
10.8%
11.5%
Tier 1 Capital
12.3
14.5
11.8
12.5
Total Capital
14.2
16.5
13.9
14.5
Tier 1 Leverage
8.1
8.1
7.1
7.1
Supplementary Leverage
N/A
8.6
N/A
7.9
Percentage change calculations are based on actual balances rather than the rounded amounts presented.
Revenues and Net Interest Margin are presented on a fully taxable equivalent basis, a non-generally accepted accounting principle financial measure that facilitates the analysis of asset yields.
A reconciliation of revenues and net interest margin on a GAAP basis to revenue and net interest margin on an FTE basis is provided here.
Note:
FY 2023 revenue includes a $176.4 million pre-tax loss on available for sale debt securities sold in conjunction with a repositioning of the portfolio, recognized in Investment Security Gains (Losses), net, and a $6.9 million pre-tax gain upon sale of available for sale debt securities. FY 2023 expense includes an $84.6 million pre-tax Federal Deposit Insurance Corporation (FDIC) special assessment, $38.7 million pre-taxseverance-related charge, $25.6 million pre-tax charge related to the write-off of an investment in a client capability, and $12.8 million pre-tax occupancy charge.
FY 2022 revenue includes a $213.0 million pre-tax loss on available for sale debt securities recorded in Investment Security Gains (Losses), net, related to an intent to sell, arising from a repositioning of the portfolio. FY 2022 expense includes a $44.1 million pre-tax pension settlement charge, $32.0 million pre-taxseverance-related charge, and $14.0 million pre-tax occupancy charge.
2023 ANNUAL REPORT | FINANCIAL HIGHLIGHTS
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Northern Trust Corporation published this content on
06 March 2024 and is solely responsible for the information contained therein. Distributed by
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06 March 2024 16:43:06 UTC.
Northern Trust Corporation specializes in managing investment funds to professional and individuals. Income breaks down by activity as follows:
- investment services (56.2%): portfolio, accounting, assets, foreign exchange operation management, brokerage services, etc. At the end of 2021, the group had USD 1,191 billion of assets under management;
- wealth Management (43.8%): USD 416.1 billion of assets under management.
The United States account for 68.8% of revenues.