Northern Trust Corporation Reports Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2012; Reports Net Charge-Offs for the Fourth Quarter Ended December 31, 2012
For the full year, the company reported net interest income of $990.3 million against $1,009.1 million a year ago. Total revenue was $3,896.1 million against $3,769.9 million a year ago. Income before income taxes was $992.3 million against $883.7 million a year ago. Net earnings allocated to common and potential common shares were $677.3 million or $2.81 per diluted share against $596.5 million or $2.47 per diluted share a year ago. Return on average common equity was 9.34% against 8.59% a year ago. Return on average assets was 0.74% against 0.66% a year ago.
For the quarter ended December 31, 2012, the company's net charge-offs totaled $5.4 million resulting from $16.1 million of charge-offs and $10.7 million of recoveries, compared to $18.2 million of net charge-offs in the prior year quarter resulting from $28.8 million of charge-offs and $10.6 million of recoveries.