Loans and Leases (Tables)

9 Months Ended

Sep. 30, 2021

Amounts outstanding for Loans and Leases, by segment and class, are shown in the following table.

TABLE 46: LOANS AND LEASES


(In Millions)	SEPTEMBER 30, 2021		DECEMBER 31, 2020
Commercial
Commercial and Institutional	$	11,228.4	$	10,058.3
Commercial Real Estate	4,333.8		3,558.4
Non-U.S.	2,522.9		1,345.7
Lease Financing, net	11.0		11.4
Other	349.8		288.2
Total Commercial	18,445.9		15,262.0
Personal
Private Client	14,613.8		11,815.1
Residential Real Estate	5,857.0		6,035.7
Non-U.S.	371.5		597.9
Other	168.4		49.0
Total Personal	21,010.7		18,497.7
Total Loans and Leases	$	39,456.6	$	33,759.7

Borrower Ratings

Loan and lease segment and class balances as of September 30, 2021 and December 31, 2020 are provided in the following table, segregated by borrower ratings into “1 to 3,” “4 to 5” and “6 to 9” (watch list and nonaccrual status) categories by year of origination at amortized cost basis. Loans that are held for investment are reported at the principal amount outstanding, net of unearned income.

TABLE 47: CREDIT QUALITY INDICATOR AT AMORTIZED COST BASIS BY ORIGINATION YEAR


September 30, 2021	TERM LOANS AND LEASES												REVOLVING LOANS		REVOLVING LOANS CONVERTED TO TERM LOANS
(In Millions)	2021		2020		2019		2018		2017		PRIOR						TOTAL
Commercial
Commercial and Institutional
Risk Rating:
1 to 3 Category	$	878.7	$	517.7	$	337.1	$	208.1	$	69.8	$	613.2	$	4,565.5	$	0.1	$	7,190.2
4 to 5 Category	918.7		388.6		380.8		244.4		249.9		248.4		1,345.5		33.9		3,810.2
6 to 9 Category	25.3		27.0		48.4		30.9		10.0		2.7		83.7		—		228.0
Total Commercial and Institutional	1,822.7		933.3		766.3		483.4		329.7		864.3		5,994.7		34.0		11,228.4
Commercial Real Estate
Risk Rating:
1 to 3 Category	390.0		241.5		250.7		91.0		15.5		79.6		156.2		2.7		1,227.2
4 to 5 Category	829.4		740.2		601.4		228.0		90.7		415.8		74.4		20.6		3,000.5
6 to 9 Category	19.5		—		55.3		—		20.3		11.0		—		—		106.1
Total Commercial Real Estate	1,238.9		981.7		907.4		319.0		126.5		506.4		230.6		23.3		4,333.8
Non-U.S.
Risk Rating:
1 to 3 Category	1,325.4		231.0		16.6		—		9.1		—		491.2		—		2,073.3
4 to 5 Category	260.9		—		—		2.0		—		71.3		81.4		1.8		417.4
6 to 9 Category	0.1		—		23.1		—		—		—		9.0		—		32.2
Total Non-U.S.	1,586.4		231.0		39.7		2.0		9.1		71.3		581.6		1.8		2,522.9
Lease Financing, net
Risk Rating:

4 to 5 Category	—		—		—		—		—		11.0		—		—		11.0

Total Lease Financing, net	—		—		—		—		—		11.0		—		—		11.0
Other
Risk Rating:
1 to 3 Category	154.5		—		—		—		—		—		—		—		154.5
4 to 5 Category	195.3		—		—		—		—		—		—		—		195.3

Total Other	349.8		—		—		—		—		—		—		—		349.8
Total Commercial	4,997.8		2,146.0		1,713.4		804.4		465.3		1,453.0		6,806.9		59.1		18,445.9
Personal
Private Client
Risk Rating:
1 to 3 Category	282.7		227.6		86.9		13.4		53.9		131.4		7,399.7		64.3		8,259.9
4 to 5 Category	435.1		493.5		533.9		89.0		42.4		72.7		4,490.9		166.3		6,323.8
6 to 9 Category	1.0		5.4		—		20.8		—		0.2		2.7		—		30.1
Total Private Client	718.8		726.5		620.8		123.2		96.3		204.3		11,893.3		230.6		14,613.8
Residential Real Estate
Risk Rating:
1 to 3 Category	923.7		1,142.4		231.5		24.1		67.1		616.8		143.1		—		3,148.7
4 to 5 Category	398.4		993.3		278.2		90.5		109.6		494.8		237.7		1.9		2,604.4
6 to 9 Category	0.5		9.8		7.9		0.6		0.5		69.3		15.1		0.2		103.9
Total Residential Real Estate	1,322.6		2,145.5		517.6		115.2		177.2		1,180.9		395.9		2.1		5,857.0
Non-U.S.
Risk Rating:
1 to 3 Category	11.2		—		30.9		—		—		1.1		41.6		—		84.8
4 to 5 Category	37.0		7.1		6.2		10.4		—		3.9		209.0		12.9		286.5
6 to 9 Category	—		—		—		—		—		0.2		—		—		0.2
Total Non-U.S.	48.2		7.1		37.1		10.4		—		5.2		250.6		12.9		371.5
Other
Risk Rating:
1 to 3 Category	146.7		—		—		—		—		—		—		—		146.7
4 to 5 Category	21.7		—		—		—		—		—		—		—		21.7

Total Other	168.4		—		—		—		—		—		—		—		168.4
Total Personal	2,258.0		2,879.1		1,175.5		248.8		273.5		1,390.4		12,539.8		245.6		21,010.7
Total Loans and Leases	$	7,255.8	$	5,025.1	$	2,888.9	$	1,053.2	$	738.8	$	2,843.4	$	19,346.7	$	304.7	$	39,456.6


December 31, 2020	TERM LOANS AND LEASES												REVOLVING LOANS		REVOLVING LOANS CONVERTED TO TERM LOANS
(In Millions)	2020		2019		2018		2017		2016		PRIOR						TOTAL
Commercial
Commercial and Institutional
Risk Rating:
1 to 3 Category	$	663.8	$	546.0	$	204.6	$	96.0	$	396.0	$	448.8	$	3,742.4	$	5.5	$	6,103.1
4 to 5 Category	793.4		505.1		354.1		405.4		134.6		167.3		1,238.7		32.3		3,630.9
6 to 9 Category	34.3		119.8		37.3		42.8		23.0		6.0		61.1		—		324.3
Total Commercial and Institutional	1,491.5		1,170.9		596.0		544.2		553.6		622.1		5,042.2		37.8		10,058.3
Commercial Real Estate
Risk Rating:
1 to 3 Category	406.3		109.2		27.6		36.5		11.8		99.4		124.3		8.7		823.8
4 to 5 Category	703.1		811.8		332.7		107.4		184.5		382.8		60.4		11.4		2,594.1
6 to 9 Category	15.3		55.2		32.0		25.8		—		12.2		—		—		140.5
Total Commercial Real Estate	1,124.7		976.2		392.3		169.7		196.3		494.4		184.7		20.1		3,558.4
Non-U.S.
Risk Rating:
1 to 3 Category	555.2		16.8		—		11.1		—		—		78.5		—		661.6
4 to 5 Category	313.1		0.7		2.0		—		—		157.9		39.2		1.8		514.7
6 to 9 Category	—		23.1		—		—		—		—		146.3		—		169.4
Total Non-U.S.	868.3		40.6		2.0		11.1		—		157.9		264.0		1.8		1,345.7
Lease Financing, net
Risk Rating:
4 to 5 Category	—		—		—		—		—		11.4		—		—		11.4
Total Lease Financing, net	—		—		—		—		—		11.4		—		—		11.4
Other
Risk Rating:
1 to 3 Category	81.7		—		—		—		—		—		—		—		81.7
4 to 5 Category	206.5		—		—		—		—		—		—		—		206.5
Total Other	288.2		—		—		—		—		—		—		—		288.2
Total Commercial	3,772.7		2,187.7		990.3		725.0		749.9		1,285.8		5,490.9		59.7		15,262.0
Personal
Private Client
Risk Rating:
1 to 3 Category	668.6		273.7		51.7		60.4		10.2		136.1		5,392.8		47.9		6,641.4
4 to 5 Category	492.1		479.9		117.3		60.4		77.5		77.5		3,564.7		207.3		5,076.7
6 to 9 Category	6.0		0.5		22.1		3.2		—		—		63.7		1.5		97.0
Total Private Client	1,166.7		754.1		191.1		124.0		87.7		213.6		9,021.2		256.7		11,815.1
Residential Real Estate
Risk Rating:
1 to 3 Category	1,554.3		317.4		42.9		109.9		205.1		627.8		152.8		1.7		3,011.9
4 to 5 Category	854.6		359.5		115.8		163.2		209.7		896.5		273.1		7.4		2,879.8
6 to 9 Category	15.3		8.3		0.7		0.5		1.9		94.8		22.5		—		144.0
Total Residential Real Estate	2,424.2		685.2		159.4		273.6		416.7		1,619.1		448.4		9.1		6,035.7
Non-U.S.
Risk Rating:
1 to 3 Category	23.3		14.9		—		—		—		1.8		275.6		—		315.6
4 to 5 Category	12.7		26.0		11.8		0.5		0.5		7.9		217.5		5.1		282.0
6 to 9 Category	—		—		—		—		—		0.3		—		—		0.3
Total Non-U.S.	36.0		40.9		11.8		0.5		0.5		10.0		493.1		5.1		597.9
Other
Risk Rating:
1 to 3 Category	34.6		—		—		—		—		—		—		—		34.6
4 to 5 Category	14.4		—		—		—		—		—		—		—		14.4
Total Other	49.0		—		—		—		—		—		—		—		49.0
Total Personal	3,675.9		1,480.2		362.3		398.1		504.9		1,842.7		9,962.7		270.9		18,497.7
Total Loans and Leases	$	7,448.6	$	3,667.9	$	1,352.6	$	1,123.1	$	1,254.8	$	3,128.5	$	15,453.6	$	330.6	$	33,759.7

Delinquency Status

The following table provides balances and delinquency status of accrual and nonaccrual loans and leases by segment and class, as well as the other real estate owned and nonaccrual asset balances, as of September 30, 2021 and December 31, 2020.

TABLE 48: DELINQUENCY STATUS


	ACCRUAL														NONACCRUAL WITH NO ALLOWANCE
(In Millions)	CURRENT		30 – 59 DAYS PAST DUE		60 – 89 DAYS PAST DUE		90 DAYS OR MORE PAST DUE		TOTAL ACCRUAL		NONACCRUAL		TOTAL LOANS AND LEASES
September 30, 2021
Commercial
Commercial and Institutional	$	11,155.4	$	52.6	$	0.5	$	0.3	$	11,208.8	$	19.6	$	11,228.4	$	8.8
Commercial Real Estate	4,254.8		2.1		—		1.2		4,258.1		75.7		4,333.8		61.2
Non-U.S.	2,522.9		—		—		—		2,522.9		—		2,522.9		—
Lease Financing, net	11.0		—		—		—		11.0		—		11.0		—
Other	349.8		—		—		—		349.8		—		349.8		—
Total Commercial	18,293.9		54.7		0.5		1.5		18,350.6		95.3		18,445.9		70.0
Personal
Private Client	14,463.5		118.5		19.9		11.7		14,613.6		0.2		14,613.8		0.2
Residential Real Estate	5,810.1		—		1.4		—		5,811.5		45.5		5,857.0		45.5
Non-U.S.	371.5		—		—		—		371.5		—		371.5		—
Other	168.4		—		—		—		168.4		—		168.4		—
Total Personal	20,813.5		118.5		21.3		11.7		20,965.0		45.7		21,010.7		45.7
Total Loans and Leases	$	39,107.4	$	173.2	$	21.8	$	13.2	$	39,315.6	$	141.0	$	39,456.6	$	115.7
	Other Real Estate Owned										$	0.2
	Total Nonaccrual Assets										$	141.2


	ACCRUAL														NONACCRUAL WITH NO ALLOWANCE
(In Millions)	CURRENT		30 – 59 DAYS PAST DUE		60 – 89 DAYS PAST DUE		90 DAYS OR MORE PAST DUE		TOTAL ACCRUAL		NONACCRUAL		TOTAL LOANS AND LEASES
December 31, 2020
Commercial
Commercial and Institutional	$	9,877.0	$	153.7	$	1.2	$	—	$	10,031.9	$	26.4	$	10,058.3	$	9.1
Commercial Real Estate	3,516.2		2.0		—		—		3,518.2		40.2		3,558.4		32.3
Non-U.S.	1,345.7		—		—		—		1,345.7		—		1,345.7		—
Lease Financing, net	11.4		—		—		—		11.4		—		11.4		—
Other	288.2		—		—		—		288.2		—		288.2		—
Total Commercial	15,038.5		155.7		1.2		—		15,195.4		66.6		15,262.0		41.4
Personal
Private Client	11,765.4		29.1		9.9		7.8		11,812.2		2.9		11,815.1		2.9
Residential Real Estate	5,946.0		23.5		2.9		1.1		5,973.5		62.2		6,035.7		53.8
Non-U.S	596.7		1.2		—		—		597.9		—		597.9		—
Other	49.0		—		—		—		49.0		—		49.0		—
Total Personal	18,357.1		53.8		12.8		8.9		18,432.6		65.1		18,497.7		56.7
Total Loans and Leases	$	33,395.6	$	209.5	$	14.0	$	8.9	$	33,628.0	$	131.7	$	33,759.7	$	98.1
	Other Real Estate Owned										$	0.7
	Total Nonaccrual Assets										$	132.4

Modified Troubled Debt Restructurings

The following table provides, by segment and class, the number of TDR modifications of loans and leases during the three- and nine- month periods ended September 30, 2021 and 2020, and the recorded investments and unpaid principal balances as of September 30, 2021 and 2020.

TABLE 49: TROUBLED DEBT RESTRUCTURINGS


	THREE MONTHS ENDED SEPTEMBER 30, 2021					NINE MONTHS ENDED SEPTEMBER 30, 2021
($ In Millions)	NUMBER OF LOANS AND LEASES	RECORDED INVESTMENT		UNPAID PRINCIPAL BALANCE		NUMBER OF LOANS AND LEASES	RECORDED INVESTMENT		UNPAID PRINCIPAL BALANCE
Commercial
Commercial and Institutional	—	$	—	$	—	6	$	19.6	$	19.6
Commercial Real Estate	—	—		—		2	28.3		34.5
Total Commercial	—	—		—		8	47.9		54.1
Personal
Residential Real Estate	1	0.2		0.2		8	1.0		1.2
Total Personal	1	0.2		0.2		8	1.0		1.2
Total Loans and Leases	1	$	0.2	$	0.2	16	$	48.9	$	55.3

Note: Period-end balances reflect all paydowns and charge-offs during the period.


	THREE MONTHS ENDED SEPTEMBER 30, 2020					NINE MONTHS ENDED SEPTEMBER 30, 2020
($ In Millions)	NUMBER OF LOANS AND LEASES	RECORDED INVESTMENT		UNPAID PRINCIPAL BALANCE		NUMBER OF LOANS AND LEASES	RECORDED INVESTMENT		UNPAID PRINCIPAL BALANCE
Commercial
Commercial and Institutional	1	$	1.0	$	1.0	3	$	25.3	$	25.5
Total Commercial	1	1.0		1.0		3	25.3		25.5
Personal
Residential Real Estate	10	17.4		17.5		16	18.3		18.7
Total Personal	10	17.4		17.5		16	18.3		18.7
Total Loans and Leases	11	$	18.4	$	18.5	19	$	43.6	$	44.2

Note: Period-end balances reflect all paydowns and charge-offs during the period.

Schedule Of Non-Troubled Debt Restructuring Modifications

The following tables provide, by segment and class, the number of total COVID-19-related loan modifications including the loan volume and deferred principal and interest balances as of September 30, 2021, for which Northern Trust applied an exemption from TDR classification that are in active deferral (loans currently in the deferral period) or completed deferral (loans that returned to their regular payment schedule).

TABLE 50: COVID-19 LOAN MODIFICATIONS NOT CONSIDERED TDRS IN ACTIVE DEFERRAL STATUS


	SEPTEMBER 30, 2021
($ In Millions)	NUMBER OF COVID-19 RELATED MODIFICATIONS	LOAN VOLUME		DEFERRED PRINCIPAL AMOUNT		DEFERRED INTEREST AMOUNT
Personal
Residential Real Estate	14	$	3.2	$	0.1	$	0.1
Total Personal	14	$	3.2	$	0.1	$	0.1
Total Loans	14	$	3.2	$	0.1	$	0.1

TABLE 51: COVID-19 LOAN MODIFICATIONS NOT CONSIDERED TDRS THAT HAVE COMPLETED DEFERRAL


	SEPTEMBER 30, 2021
($ In Millions)	NUMBER OF COVID-19 RELATED MODIFICATIONS	LOAN VOLUME		DEFERRED PRINCIPAL AMOUNT		DEFERRED INTEREST AMOUNT
Commercial
Commercial and Institutional	79	$	211.6	$	—	$	1.7
Commercial Real Estate	83	396.3		—		2.3
Total Commercial	162	$	607.9	$	—	$	4.0

Personal
Private Client	30	$	150.7	$	—	$	1.0
Residential Real Estate	363	125.3		1.4		1.7
Total Personal	393	$	276.0	$	1.4	$	2.7
Total Loans	555	$	883.9	$	1.4	$	6.7