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Allowance for Credit Losses (Tables)
 9 Months Ended
Sep. 30, 2025
Receivables [Abstract]  
Schedule of Allowance for Credit Loss
The following table provides information regarding changes in the total Allowance for Credit Losses during the three and nine months ended September 30, 2025 and 2024.
TABLE 46: CHANGES IN THE ALLOWANCE FOR CREDIT LOSSES
THREE MONTHS ENDED SEPTEMBER 30, 2025
(In Millions)LOANSUNDRAWN LOAN COMMITMENTS AND STANDBY LETTERS OF CREDITHELD TO MATURITY DEBT SECURITIESOTHER FINANCIAL ASSETSTOTAL
Balance at Beginning of Period$180.5 $34.7 $6.9 $1.1 $223.2 
Charge-Offs(2.1)— — — (2.1)
Recoveries1.7 — — — 1.7 
Net Recoveries (Charge-Offs)(0.4)— — — (0.4)
Provision for Credit Losses(1)
(15.7)(2.6)1.8 0.4 (16.1)
Balance at End of Period$164.4 $32.1 $8.7 $1.5 $206.7 
(1) The table excludes a negative provision for credit losses of $0.9 million for the three months ended September 30, 2025 for AFS debt securities. See further detail in Note 4—Securities.
NINE MONTHS ENDED SEPTEMBER 30, 2025
(In Millions)LOANSUNDRAWN LOAN COMMITMENTS AND STANDBY LETTERS OF CREDITDEBT SECURITIES HELD TO MATURITYOTHER FINANCIAL ASSETSTOTAL
Balance at Beginning of Period$168.0 $30.4 $6.5 $1.0 $205.9 
Charge-Offs(2.5)— — — (2.5)
Recoveries2.6 — — — 2.6 
Net Recoveries (Charge-Offs)0.1 — — — 0.1 
Provision for Credit Losses(1)
(3.7)1.7 2.2 0.5 0.7 
Balance at End of Period$164.4 $32.1 $8.7 $1.5 $206.7 
(1) The table excludes a negative provision for credit losses of $0.2 million for the nine months ended September 30, 2025 for AFS debt securities. See further detail in Note 4—Securities.
THREE MONTHS ENDED SEPTEMBER 30, 2024
(In Millions)LOANSUNDRAWN LOAN COMMITMENTS AND STANDBY LETTERS OF CREDITHELD TO MATURITY DEBT SECURITIESOTHER FINANCIAL ASSETSTOTAL
Balance at Beginning of Period$167.7 $29.5 $10.9 $0.9 $209.0 
Charge-Offs— — — — — 
Recoveries2.4 — — — 2.4 
Net Recoveries (Charge-Offs) 2.4 — — — 2.4 
Provision for Credit Losses(1)
14.7 (3.0)(3.4)0.1 8.4 
Balance at End of Period$184.8 $26.5 $7.5 $1.0 $219.8 
(1) The table excludes a negative provision for credit losses of $0.4 million for the three months ended September 30, 2024 for AFS debt securities. See further detail in Note 4—Securities.
NINE MONTHS ENDED SEPTEMBER 30, 2024
(In Millions)LOANSUNDRAWN LOAN COMMITMENTS AND STANDBY LETTERS OF CREDITHELD TO MATURITY DEBT SECURITIESOTHER FINANCIAL ASSETSTOTAL
Balance at Beginning of Period$178.7 $26.9 $12.7 $0.9 $219.2 
Charge-Offs(11.4)— — — (11.4)
Recoveries3.5 — — — 3.5 
Net Recoveries (Charge-Offs)(7.9)— — — (7.9)
Provision for Credit Losses(1)
14.0 (0.4)(5.2)0.1 8.5 
Balance at End of Period$184.8 $26.5 $7.5 $1.0 $219.8 
(1) The table excludes a negative provision for credit losses of $1.0 million for the nine months ended September 30, 2024 for AFS debt securities. See further detail in Note 4—Securities.
The following table provides information regarding changes in the Allowance for Credit Losses related to loans, including undrawn loan commitments and standby letters of credit, by segment during the three and nine months ended September 30, 2025 and 2024.
TABLE 47: CHANGES IN THE ALLOWANCE FOR CREDIT LOSSES RELATED TO LOANS
THREE MONTHS ENDED SEPTEMBER 30, 2025
LOANSUNDRAWN LOAN COMMITMENTS AND STANDBY LETTERS OF CREDIT
(In Millions)COMMERCIALPERSONALTOTALCOMMERCIALPERSONALTOTAL
Balance at Beginning of Period$145.8 $34.7 $180.5 $32.5 $2.2 $34.7 
Charge-Offs(2.0)(0.1)(2.1)— — — 
Recoveries1.3 0.4 1.7 — — — 
Net Recoveries (Charge-Offs)(0.7)0.3 (0.4)— — — 
Provision for Credit Losses(11.2)(4.5)(15.7)(2.6)— (2.6)
Balance at End of Period$133.9 $30.5 $164.4 $29.9 $2.2 $32.1 
NINE MONTHS ENDED SEPTEMBER 30, 2025
LOANSUNDRAWN LOAN COMMITMENTS AND STANDBY LETTERS OF CREDIT
(In Millions)COMMERCIALPERSONALTOTALCOMMERCIALPERSONALTOTAL
Balance at Beginning of Period$138.5 $29.5 $168.0 $28.3 $2.1 $30.4 
Charge-Offs(2.3)(0.2)(2.5)— — — 
Recoveries1.4 1.2 2.6 — — — 
Net Recoveries (Charge-Offs) (0.9)1.0 0.1 — — — 
Provision for Credit Losses(3.7)— (3.7)1.6 0.1 1.7 
Balance at End of Period$133.9 $30.5 $164.4 $29.9 $2.2 $32.1 
THREE MONTHS ENDED SEPTEMBER 30, 2024
LOANSUNDRAWN LOAN COMMITMENTS AND STANDBY LETTERS OF CREDIT
(In Millions)COMMERCIALPERSONALTOTALCOMMERCIALPERSONALTOTAL
Balance at Beginning of Period$136.9 $30.8 $167.7 $27.2 $2.3 $29.5 
Charge-Offs— — — — — — 
Recoveries— 2.4 2.4 — — — 
Net Recoveries (Charge-Offs)— 2.4 2.4 — — — 
Provision for Credit Losses15.7 (1.0)14.7 (2.7)(0.3)(3.0)
Balance at End of Period$152.6 $32.2 $184.8 $24.5 $2.0 $26.5 
NINE MONTHS ENDED SEPTEMBER 30, 2024
LOANSUNDRAWN LOAN COMMITMENTS AND STANDBY LETTERS OF CREDIT
(In Millions)COMMERCIALPERSONALTOTALCOMMERCIALPERSONALTOTAL
Balance at Beginning of Period$146.8 $31.9 $178.7 $24.9 $2.0 $26.9 
Charge-Offs(11.0)(0.4)(11.4)— — — 
Recoveries— 3.5 3.5 — — — 
Net Recoveries (Charge-Offs)(11.0)3.1 (7.9)— — — 
Provision for Credit Losses16.8 (2.8)14.0 (0.4)— (0.4)
Balance at End of Period$152.6 $32.2 $184.8 $24.5 $2.0 $26.5 
The following table provides information regarding the recorded investments in loans and the Allowance for Credit Losses for loans and undrawn loan commitments and standby letters of credit by segment as of September 30, 2025 and December 31, 2024.
TABLE 48: RECORDED INVESTMENTS IN LOANS
SEPTEMBER 30, 2025DECEMBER 31, 2024
(In Millions)COMMERCIALPERSONALTOTALCOMMERCIALPERSONALTOTAL
Loans
Evaluated on an Individual Basis$52.8 $47.3 $100.1 $35.9 $30.0 $65.9 
Evaluated on a Collective Basis20,518.3 22,331.0 42,849.3 20,242.9 23,081.8 43,324.7 
Total Loans20,571.1 22,378.3 42,949.4 20,278.8 23,111.8 43,390.6 
Allowance for Credit Losses on Loans
Evaluated on an Individual Basis6.9 3.8 10.7 1.2 2.0 3.2 
Evaluated on a Collective Basis127.0 26.7 153.7 137.3 27.5 164.8 
Allowance Assigned to Loans133.9 30.5 164.4 138.5 29.5 168.0 
Allowance Assigned to Undrawn Loan Commitments and Standby Letters of Credit - Evaluated on a Collective Basis29.9 2.2 32.1 28.3 2.1 30.4 
Total Allowance Assigned to Loans and Undrawn Loan Commitments and Standby Letters of Credit$163.8 $32.7 $196.5 $166.8 $31.6 $198.4 
Schedule of Debt Securities, Held-to-maturity, Allowance for Credit Loss The following table provides information regarding changes in the allowance for credit losses for HTM debt securities during the three and nine months ended September 30, 2025 and 2024.
TABLE 49: CHANGES IN THE ALLOWANCE FOR CREDIT LOSSES RELATED TO HELD TO MATURITY DEBT SECURITIES
THREE MONTHS ENDED SEPTEMBER 30, 2025
(In Millions)CORPORATE DEBTNON-U.S. GOVERNMENTSUB-SOVEREIGN, SUPRANATIONAL, AND NON-U.S. AGENCY BONDS
OBLIGATIONS OF STATES AND POLITICAL SUBDIVISIONS(1)
COVERED BONDSOTHERTOTAL
Balance at Beginning of Period$0.3 $2.2 $1.2 $0.9 $— $2.3 $6.9 
Provision for Credit Losses0.1 1.3 0.4 0.1 — (0.1)1.8 
Balance at End of Period$0.4 $3.5 $1.6 $1.0 $— $2.2 $8.7 
(1) The allowance for Obligations of States and Political Subdivisions is related to (non pre-refunded) municipal securities that do not fall under Northern Trust’s zero-loss assumption.

NINE MONTHS ENDED SEPTEMBER 30, 2025
(In Millions)CORPORATE DEBTNON-U.S. GOVERNMENTSUB-SOVEREIGN, SUPRANATIONAL, AND NON-U.S. AGENCY BONDS
OBLIGATIONS OF STATES AND POLITICAL SUBDIVISIONS(1)
COVERED BONDSOTHERTOTAL
Balance at Beginning of Period$0.3 $2.0 $1.1 $0.9 $— $2.2 $6.5 
Provision for Credit Losses0.1 1.5 0.5 0.1 — — 2.2 
Balance at End of Period$0.4 $3.5 $1.6 $1.0 $— $2.2 $8.7 
(1) The allowance for Obligations of States and Political Subdivisions is related to (non pre-refunded) municipal securities that do not fall under Northern Trust’s zero-loss assumption.
THREE MONTHS ENDED SEPTEMBER 30, 2024
(In Millions)CORPORATE DEBTNON-U.S. GOVERNMENTSUB-SOVEREIGN, SUPRANATIONAL, AND NON-U.S. AGENCY BONDS
OBLIGATIONS OF STATES AND POLITICAL SUBDIVISIONS(1)
COVERED BONDSOTHERTOTAL
Balance at Beginning of Period$0.5 $2.6 $1.7 $1.0 $0.1 $5.0 $10.9 
Provision for Credit Losses— (0.1)(0.1)— (0.1)(3.1)(3.4)
Balance at End of Period$0.5 $2.5 $1.6 $1.0 $— $1.9 $7.5 
(1) The allowance for Obligations of States and Political Subdivisions is related to (non pre-refunded) municipal securities that do not fall under Northern Trust’s zero-loss assumption.
NINE MONTHS ENDED SEPTEMBER 30, 2024
(In Millions)CORPORATE DEBTNON-U.S. GOVERNMENTSUB-SOVEREIGN, SUPRANATIONAL, AND NON-U.S. AGENCY BONDSOBLIGATIONS OF STATES AND POLITICAL SUBDIVISIONSCOVERED BONDSOTHERTOTAL
Balance at Beginning of Period$0.9 $3.5 $2.2 $1.2 $0.1 $4.8 $12.7 
Provision for Credit Losses(0.4)(1.0)(0.6)(0.2)(0.1)(2.9)(5.2)
Balance at End of Period$0.5 $2.5 $1.6 $1.0 $— $1.9 $7.5 
(1) The allowance for Obligations of States and Political Subdivisions is related to (non pre-refunded) municipal securities that do not fall under Northern Trust’s zero-loss assumption.
Schedule of Accrued Liabilities
The following table provides the amount of accrued interest excluded from the amortized cost basis of the following portfolios.
TABLE 50: ACCRUED INTEREST
(In Millions)SEPTEMBER 30, 2025DECEMBER 31, 2024
Loans$197.0 $211.7 
Debt Securities
Held to Maturity81.9 58.9 
Available for Sale186.9 173.9 
Other Financial Assets56.1 53.1 
Total$521.9 $497.6