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Allowance for Credit Losses (Tables)

12 Months Ended

Dec. 31, 2025

Schedule of Allowances for Credit Losses and Recorded Investments in Loans and Leases by Segment

The following table provides information regarding changes in the total Allowance for Credit Losses.

TABLE 60: CHANGES IN THE ALLOWANCE FOR CREDIT LOSSES


	2025
(In Millions)	LOANS		UNDRAWN LOAN COMMITMENTS AND STANDBY LETTERS OF CREDIT		HELD TO MATURITY DEBT SECURITIES		OTHER FINANCIAL ASSETS		TOTAL
Balance at Beginning of Period	$	168.0	$	30.4	$	6.5	$	1.0	$	205.9
Charge-Offs	(3.9)		—		—		—		(3.9)
Recoveries	3.6		—		—		—		3.6
Net Recoveries (Charge-Offs)	(0.3)		—		—		—		(0.3)
Provision for Credit Losses(1)	(3.4)		(7.1)		2.8		0.4		(7.3)
Balance at End of Period	$	164.3	$	23.3	$	9.3	$	1.4	$	198.3

(1) The table excludes a negative provision for credit losses of $0.2 million for the year ended December 31, 2025 for AFS debt securities. See further detail in Note 4, “Securities.”


	2024
(In Millions)	LOANS		UNDRAWN LOAN COMMITMENTS AND STANDBY LETTERS OF CREDIT		HELD TO MATURITY DEBT SECURITIES		OTHER FINANCIAL ASSETS		TOTAL
Balance at Beginning of Period	$	178.7	$	26.9	$	12.7	$	0.9	$	219.2
Charge-Offs	(15.5)		—		—		—		(15.5)
Recoveries	4.2		—		—		—		4.2
Net Recoveries (Charge-Offs)	(11.3)		—		—		—		(11.3)
Provision for Credit Losses(1)	0.6		3.5		(6.2)		0.1		(2.0)
Balance at End of Period	$	168.0	$	30.4	$	6.5	$	1.0	$	205.9

(1) The table excludes a negative provision for credit losses of $1.0 million for the year ended December 31, 2024 for AFS debt securities. See further detail in Note 4, “Securities.”


	2023
(In Millions)	LOANS		UNDRAWN LOAN COMMITMENTS AND STANDBY LETTERS OF CREDIT		HELD TO MATURITY DEBT SECURITIES		OTHER FINANCIAL ASSETS		TOTAL
Balance at Beginning of Period	$	144.3	$	38.5	$	16.0	$	0.8	$	199.6
Charge-Offs	(7.5)		—		(1.2)		—		(8.7)
Recoveries	3.7		—		—		—		3.7
Net Recoveries (Charge-Offs)	(3.8)		—		(1.2)		—		(5.0)
Provision for Credit Losses(1)	38.2		(11.6)		(2.1)		0.1		24.6
Balance at End of Period	$	178.7	$	26.9	$	12.7	$	0.9	$	219.2

(1) The table excludes a negative provision for credit losses of $0.1 million for the year ended December 31, 2023 for AFS debt securities. See further detail in Note 4, “Securities.”

The following table provides information regarding changes in the total allowance for credit losses related to loans, including undrawn loan commitments and standby letters of credit, by segment.

TABLE 61: CHANGES IN THE ALLOWANCE FOR CREDIT LOSSES RELATED TO LOANS


	2025
	LOANS						UNDRAWN LOAN COMMITMENTS AND STANDBY LETTERS OF CREDIT
(In Millions)	COMMERCIAL		PERSONAL		TOTAL		COMMERCIAL		PERSONAL		TOTAL
Balance at Beginning of Period	$	138.5	$	29.5	$	168.0	$	28.3	$	2.1	$	30.4
Charge-Offs	(3.5)		(0.4)		(3.9)		—		—		—
Recoveries	2.2		1.4		3.6		—		—		—
Net Recoveries (Charge-Offs)	(1.3)		1.0		(0.3)		—		—		—
Provision for Credit Losses	(4.7)		1.3		(3.4)		(6.6)		(0.5)		(7.1)
Balance at End of Period	$	132.5	$	31.8	$	164.3	$	21.7	$	1.6	$	23.3


	2024
	LOANS						UNDRAWN LOAN COMMITMENTS AND STANDBY LETTERS OF CREDIT
(In Millions)	COMMERCIAL		PERSONAL		TOTAL		COMMERCIAL		PERSONAL		TOTAL
Balance at Beginning of Period	$	146.8	$	31.9	$	178.7	$	24.9	$	2.0	$	26.9
Charge-Offs	(15.1)		(0.4)		(15.5)		—		—		—
Recoveries	—		4.2		4.2		—		—		—
Net Recoveries (Charge-Offs)	(15.1)		3.8		(11.3)		—		—		—
Provision for Credit Losses	6.8		(6.2)		0.6		3.4		0.1		3.5
Balance at End of Period	$	138.5	$	29.5	$	168.0	$	28.3	$	2.1	$	30.4


	2023
	LOANS						UNDRAWN LOAN COMMITMENTS AND STANDBY LETTERS OF CREDIT
(In Millions)	COMMERCIAL		PERSONAL		TOTAL		COMMERCIAL		PERSONAL		TOTAL
Balance at Beginning of Period	$	116.2	$	28.1	$	144.3	$	36.3	$	2.2	$	38.5
Charge-Offs	(5.7)		(1.8)		(7.5)		—		—		—
Recoveries	0.2		3.5		3.7		—		—		—
Net Recoveries (Charge-Offs)	(5.5)		1.7		(3.8)		—		—		—
Provision for Credit Losses	36.1		2.1		38.2		(11.4)		(0.2)		(11.6)
Balance at End of Period	$	146.8	$	31.9	$	178.7	$	24.9	$	2.0	$	26.9

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 December 31, 2025 and 2024.

TABLE 62: RECORDED INVESTMENTS IN LOANS


	DECEMBER 31, 2025						DECEMBER 31, 2024
(In Millions)	COMMERCIAL		PERSONAL		TOTAL		COMMERCIAL		PERSONAL		TOTAL
Loans
Evaluated on an Individual Basis	$	55.0	$	45.9	$	100.9	$	35.9	$	30.0	$	65.9
Evaluated on a Collective Basis	20,376.0		21,471.4		41,847.4		20,242.9		23,081.8		43,324.7
Total Loans	20,431.0		21,517.3		41,948.3		20,278.8		23,111.8		43,390.6
Allowance for Credit Losses on Loans
Evaluated on an Individual Basis	5.9		4.3		10.2		1.2		2.0		3.2
Evaluated on a Collective Basis	126.6		27.5		154.1		137.3		27.5		164.8
Allowance Assigned to Loans	132.5		31.8		164.3		138.5		29.5		168.0



Allowance Assigned to Undrawn Loan Commitments and Standby Letters of Credit - Evaluated on a Collective Basis	21.7		1.6		23.3		28.3		2.1		30.4
Total Allowance Assigned to Loans and Undrawn Loan Commitments and Standby Letters of Credit	$	154.2	$	33.4	$	187.6	$	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 total allowance for credit losses for held to maturity debt securities.

TABLE 63: CHANGES IN THE ALLOWANCE FOR CREDIT LOSSES RELATED TO HELD TO MATURITY DEBT SECURITIES


	2025
(In Millions)	CORPORATE DEBT		NON-U.S. GOVERNMENT		SUB-SOVEREIGN, SUPRANATIONAL, AND NON-U.S. AGENCY BONDS		OBLIGATIONS OF STATES AND POLITICAL SUBDIVISIONS(1)		COVERED BONDS		OTHER		TOTAL
Balance at Beginning of Period	$	0.3	$	2.0	$	1.1	$	0.9	$	—	$	2.2	$	6.5



Provision for Credit Losses	—		0.8		1.7		0.2		0.1		—		2.8
Balance at End of Period	$	0.3	$	2.8	$	2.8	$	1.1	$	0.1	$	2.2	$	9.3

(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.


	2024
(In Millions)	CORPORATE DEBT		NON-U.S. GOVERNMENT		SUB-SOVEREIGN, SUPRANATIONAL, AND NON-U.S. AGENCY BONDS		OBLIGATIONS OF STATES AND POLITICAL SUBDIVISIONS(1)		COVERED BONDS		OTHER		TOTAL
Balance at Beginning of Period	$	0.9	$	3.5	$	2.2	$	1.2	$	0.1	$	4.8	$	12.7



Provision for Credit Losses	(0.6)		(1.5)		(1.1)		(0.3)		(0.1)		(2.6)		(6.2)
Balance at End of Period	$	0.3	$	2.0	$	1.1	$	0.9	$	—	$	2.2	$	6.5

(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.


	2023
(In Millions)	CORPORATE DEBT		NON-U.S. GOVERNMENT		SUB-SOVEREIGN, SUPRANATIONAL, AND NON-U.S. AGENCY BONDS		OBLIGATIONS OF STATES AND POLITICAL SUBDIVISIONS(1)		COVERED BONDS		OTHER		TOTAL
Balance at Beginning of Period	$	1.9	$	3.6	$	4.0	$	1.5	$	0.1	$	4.9	$	16.0
Charge-Offs	—		—		—		—		—		(1.2)		(1.2)


Provision for Credit Losses	(1.0)		(0.1)		(1.8)		(0.3)		—		1.1		(2.1)
Balance at End of Period	$	0.9	$	3.5	$	2.2	$	1.2	$	0.1	$	4.8	$	12.7

(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.

Schedule of Accrued Interest

The following table provides the amount of accrued interest excluded from the amortized cost basis of the following portfolios.

TABLE 64: ACCRUED INTEREST


(In Millions)	DECEMBER 31, 2025		DECEMBER 31, 2024
Loans	$	184.6	$	211.7
Debt Securities
Held to Maturity	76.9		58.9
Available for Sale	175.0		173.9
Other Financial Assets	62.2		53.1
Total	$	498.7	$	497.6