Asset Servicing fees increased 6% year-over-year to $692 million, with assets under custody and administration reaching $16.9 trillion, up 9% year-over-year.
Capital ratios remained strong with a common equity Tier 1 ratio of 12.2% and Tier 1 leverage ratio of 7.6%.
Expenses increased 4.8% year-over-year excluding notable items, the lowest rate of growth in six quarters.
Net interest income on an FTE basis was a record $615 million, up 7% sequentially and 16% year-over-year.
Northern Trust reported second quarter net income of $421 million, earnings per share of $2.13, and a return on average common equity of 14.2%.
Provision for credit losses increased to $16.5 million, mainly due to reserves for a small number of nonperforming loans, expected to normalize in future quarters.
Returned $486 million to shareholders through dividends and share repurchases, reflecting a payout ratio of 117%.
Revenue grew 8% year-over-year excluding notables, with trust, investment and other servicing fees totaling $1.2 billion, a 6% increase compared to last year.
Wealth Management assets under management were $469 billion, up 12% year-over-year, with pretax profit increasing 18% over the prior year period.
AFG reported core net operating earnings of $2.14 per share for Q2 2025, down from $2.56 in the prior year quarter.
AFG returned over $100 million to shareholders in Q2 2025 through dividends and share repurchases.
Alternative investments returned 1.2% annualized in Q2 2025, down from 5.1% in the prior year quarter, negatively impacting overall investment income by about 5%.
Annualized core operating return on equity was 15.5%, despite lower returns from alternative investments.
Gross and net written premiums increased 10% and 7%, respectively, driven partly by earlier crop acreage reporting.
Net investment income excluding alternatives increased 10% year-over-year due to higher interest rates and asset balances.
Underwriting margins in Specialty Property & Casualty insurance were strong with a 93.1% combined ratio, up 2.6 points year-over-year.
Dafinchi