Northern Trust first opened its doors for business in 1889. The Chicago-based global bank, established by Byron Laflin Smith, has more than 20 international locations. Founded the same year the Eiffel Tower was completed and the Dakotas, Montana and Washington became states, Northern Trust has weathered the Great Depression, two world wars and the 2008 financial crisis. The bank not only survived, but thrived during these times of significant market and economic stress.
Northern Trust (Nasdaq:NTRS) is a global leader in delivering innovative investment management, asset and fund administration, fiduciary and banking solutions to corporations, institutions and affluent individuals. For over 125 years, we have evolved with the changing needs of our clients and our world.
As of September 30, 2015, Northern Trust Corporation had:
Frederick H. Waddell, Chairman and Chief Executive Officer, commented, “We continue to perform well in a challenging environment, with net income and earnings per share exhibiting strong growth of 15% and 14%, respectively. Noninterest income and net interest income grew 7% and 8%, respectively. Expense growth of 5% reflects continued investments in our business as well as ongoing support of regulatory requirements and technology initiatives.
In the third quarter, we returned $225.5 million to common stockholders through dividends and stock repurchases, demonstrating our continuing commitment to returning capital to our common stockholders.”