Loans (Tables)

3 Months Ended

Mar. 31, 2023

Amounts outstanding for Loans, by segment and class, are shown in the following table.

TABLE 41: LOANS


(In Millions)	MARCH 31, 2023		DECEMBER 31, 2022
Commercial
Commercial and Institutional(1)	$	12,750.2	$	12,415.0
Commercial Real Estate	4,981.4		4,773.0
Non-U.S.(1)	3,004.3		3,131.1

Other	873.8		1,316.5
Total Commercial	21,609.7		21,635.6
Personal
Private Client	13,865.3		14,119.0
Residential Real Estate	6,377.0		6,413.5
Non-U.S.	429.0		510.0
Other	88.5		215.2
Total Personal	20,759.8		21,257.7
Total Loans	$	42,369.5	$	42,893.3

(1) Commercial and institutional and commercial-non-U.S. combined include $5.5 billion and $5.6 billion of private equity capital call finance loans at March 31, 2023 and December 31, 2022, respectively.

Borrower Ratings

Loan segment and class balances as of March 31, 2023 and December 31, 2022 are provided in the following table, segregated by borrower ratings into “1 to 3,” “4 to 5” and “6 to 9” (watch list and nonaccrual status) categories by year of origination at amortized cost basis. Loans that are held for investment are reported at the principal amount outstanding, net of unearned income.

TABLE 42: CREDIT QUALITY INDICATOR AT AMORTIZED COST BASIS BY ORIGINATION YEAR


March 31, 2023	TERM LOANS												REVOLVING LOANS		REVOLVING LOANS CONVERTED TO TERM LOANS
(In Millions)	2023		2022		2021		2020		2019		PRIOR						TOTAL
Commercial
Commercial and Institutional
Risk Rating:
1 to 3 Category	$	253.4	$	695.7	$	907.8	$	133.6	$	138.8	$	459.7	$	6,388.9	$	17.5	$	8,995.4
4 to 5 Category	263.6		820.2		705.1		232.4		164.7		248.1		1,113.4		62.2		3,609.7
6 to 9 Category	1.2		28.7		37.7		—		9.7		10.7		57.1		—		145.1
Total Commercial and Institutional	518.2		1,544.6		1,650.6		366.0		313.2		718.5		7,559.4		79.7		12,750.2

Commercial Real Estate
Risk Rating:
1 to 3 Category	129.5		253.3		196.6		48.3		83.5		62.7		27.3		0.5		801.7
4 to 5 Category	858.8		1,052.3		826.3		455.3		353.1		308.8		224.4		15.4		4,094.4
6 to 9 Category	5.4		—		25.5		—		42.1		9.8		2.5		—		85.3
Total Commercial Real Estate	993.7		1,305.6		1,048.4		503.6		478.7		381.3		254.2		15.9		4,981.4
Commercial Real Estate Gross Charge-offs	—		(4.0)		—		—		—		—		—		—		(4.0)
Non-U.S.
Risk Rating:
1 to 3 Category	797.9		—		45.8		145.9		15.3		3.7		1,125.1		—		2,133.7
4 to 5 Category	452.7		7.9		—		—		—		143.2		212.0		1.8		817.6
6 to 9 Category	0.1		14.8		—		—		23.1		—		15.0		—		53.0
Total Non-U.S.	1,250.7		22.7		45.8		145.9		38.4		146.9		1,352.1		1.8		3,004.3







Other
Risk Rating:
1 to 3 Category	594.5		—		—		—		—		—		—		—		594.5
4 to 5 Category	279.3		—		—		—		—		—		—		—		279.3
Total Other	873.8		—		—		—		—		—		—		—		873.8

Total Commercial	3,636.4		2,872.9		2,744.8		1,015.5		830.3		1,246.7		9,165.7		97.4		21,609.7
Commercial Gross Charge-offs	—		(4.0)		—		—		—		—		—		—		(4.0)
Personal
Private Client
Risk Rating:
1 to 3 Category	324.6		402.1		80.3		21.5		17.3		13.1		4,952.0		71.6		5,882.5
4 to 5 Category	72.0		493.8		681.3		183.6		174.9		175.3		5,888.1		283.1		7,952.1
6 to 9 Category	—		0.9		—		5.0		—		18.2		6.6		—		30.7
Total Private Client	396.6		896.8		761.6		210.1		192.2		206.6		10,846.7		354.7		13,865.3

Residential Real Estate
Risk Rating:
1 to 3 Category	50.4		809.9		660.7		772.4		147.1		390.6		208.9		7.9		3,047.9
4 to 5 Category	41.9		449.0		873.7		902.8		189.3		623.1		178.2		—		3,258.0
6 to 9 Category	—		5.8		2.5		1.7		10.9		38.9		11.3		—		71.1
Total Residential Real Estate	92.3		1,264.7		1,536.9		1,676.9		347.3		1,052.6		398.4		7.9		6,377.0

Non-U.S.
Risk Rating:
1 to 3 Category	—		12.3		—		—		—		1.0		47.8		—		61.1
4 to 5 Category	—		26.0		41.4		1.0		19.2		2.9		269.5		7.8		367.8
6 to 9 Category	—		—		—		—		—		0.1		—		—		0.1
Total Non-U.S.	—		38.3		41.4		1.0		19.2		4.0		317.3		7.8		429.0

Other
Risk Rating:
1 to 3 Category	28.9		—		—		—		—		—		—		—		28.9
4 to 5 Category	59.6		—		—		—		—		—		—		—		59.6

Total Other	88.5		—		—		—		—		—		—		—		88.5

Total Personal	577.4		2,199.8		2,339.9		1,888.0		558.7		1,263.2		11,562.4		370.4		20,759.8
Personal Gross Charge-offs	—		—		—		—		—		—		—		—		—
Total Loans	$	4,213.8	$	5,072.7	$	5,084.7	$	2,903.5	$	1,389.0	$	2,509.9	$	20,728.1	$	467.8	$	42,369.5
Total Loans Gross Charge-offs	$	—	$	(4.0)	$	—	$	—	$	—	$	—	$	—	$	—	$	(4.0)


December 31, 2022	TERM LOANS												REVOLVING LOANS		REVOLVING LOANS CONVERTED TO TERM LOANS
(In Millions)	2022		2021		2020		2019		2018		PRIOR						TOTAL
Commercial
Commercial and Institutional
Risk Rating:
1 to 3 Category	$	753.3	$	1,087.5	$	209.8	$	159.3	$	45.9	$	511.3	$	6,032.8	$	17.7	$	8,817.6
4 to 5 Category	744.1		740.6		300.8		191.1		151.4		174.7		1,102.3		32.9		3,437.9
6 to 9 Category	50.8		30.5		—		13.7		—		—		64.5		—		159.5
Total Commercial and Institutional	1,548.2		1,858.6		510.6		364.1		197.3		686.0		7,199.6		50.6		12,415.0
Commercial Real Estate
Risk Rating:
1 to 3 Category	318.7		227.4		123.6		123.5		39.8		39.1		113.4		3.0		988.5
4 to 5 Category	968.5		1,040.0		637.8		447.3		153.0		256.9		181.5		17.5		3,702.5
6 to 9 Category	7.7		22.7		—		49.1		—		—		2.5		—		82.0
Total Commercial Real Estate	1,294.9		1,290.1		761.4		619.9		192.8		296.0		297.4		20.5		4,773.0
Non-U.S.
Risk Rating:
1 to 3 Category	991.9		46.2		109.6		14.8		—		6.5		1,158.3		—		2,327.3
4 to 5 Category	459.0		—		—		—		—		214.9		89.5		1.8		765.2
6 to 9 Category	0.1		—		—		23.1		—		—		15.4		—		38.6
Total Non-U.S.	1,451.0		46.2		109.6		37.9		—		221.4		1,263.2		1.8		3,131.1
Other
Risk Rating:
1 to 3 Category	993.9		—		—		—		—		—		—		—		993.9
4 to 5 Category	322.6		—		—		—		—		—		—		—		322.6
Total Other	1,316.5		—		—		—		—		—		—		—		1,316.5
Total Commercial	5,610.6		3,194.9		1,381.6		1,021.9		390.1		1,203.4		8,760.2		72.9		21,635.6
Personal
Private Client
Risk Rating:
1 to 3 Category	395.5		159.9		50.5		313.6		13.4		18.5		5,352.5		28.2		6,332.1
4 to 5 Category	430.3		755.1		192.4		191.3		38.7		160.0		5,728.6		267.2		7,763.6
6 to 9 Category	0.9		—		0.1		—		18.6		—		3.7		—		23.3
Total Private Client	826.7		915.0		243.0		504.9		70.7		178.5		11,084.8		295.4		14,119.0
Residential Real Estate
Risk Rating:
1 to 3 Category	871.6		666.7		567.7		168.1		102.9		750.8		128.4		7.9		3,264.1
4 to 5 Category	354.3		656.7		597.6		290.0		170.9		838.2		180.4		1.0		3,089.1
6 to 9 Category	—		6.8		1.5		1.1		3.7		35.9		11.3		—		60.3
Total Residential Real Estate	1,225.9		1,330.2		1,166.8		459.2		277.5		1,624.9		320.1		8.9		6,413.5
Non-U.S.
Risk Rating:
1 to 3 Category	3.0		3.7		—		—		4.6		2.3		124.6		—		138.2
4 to 5 Category	24.2		40.3		—		21.3		3.2		2.9		272.0		7.8		371.7
6 to 9 Category	—		—		—		—		—		0.1		—		—		0.1
Total Non-U.S.	27.2		44.0		—		21.3		7.8		5.3		396.6		7.8		510.0
Other
Risk Rating:
1 to 3 Category	190.8		—		—		—		—		—		—		—		190.8
4 to 5 Category	24.4		—		—		—		—		—		—		—		24.4
Total Other	215.2		—		—		—		—		—		—		—		215.2
Total Personal	2,295.0		2,289.2		1,409.8		985.4		356.0		1,808.7		11,801.5		312.1		21,257.7
Total Loans	$	7,905.6	$	5,484.1	$	2,791.4	$	2,007.3	$	746.1	$	3,012.1	$	20,561.7	$	385.0	$	42,893.3

Delinquency Status

The following table provides balances and delinquency status of accrual and nonaccrual loans by segment and class, as well as the other real estate owned and nonaccrual asset balances, as of March 31, 2023 and December 31, 2022.

TABLE 43: DELINQUENCY STATUS


	ACCRUAL														NONACCRUAL WITH NO ALLOWANCE
(In Millions)	CURRENT		30 – 59 DAYS PAST DUE		60 – 89 DAYS PAST DUE		90 DAYS OR MORE PAST DUE		TOTAL ACCRUAL		NONACCRUAL		TOTAL LOANS
March 31, 2023
Commercial
Commercial and Institutional	$	12,605.9	$	117.5	$	4.2	$	0.7	$	12,728.3	$	21.9	$	12,750.2	$	9.1
Commercial Real Estate	4,971.8		2.8		0.2		0.5		4,975.3		6.1		4,981.4		6.1
Non-U.S.	3,002.5		1.8		—		—		3,004.3		—		3,004.3		—

Other	873.8		—		—		—		873.8		—		873.8		—
Total Commercial	21,454.0		122.1		4.4		1.2		21,581.7		28.0		21,609.7		15.2
Personal
Private Client	13,630.4		143.2		14.3		75.4		13,863.3		2.0		13,865.3		—
Residential Real Estate	6,330.4		26.9		—		0.8		6,358.1		18.9		6,377.0		17.5
Non-U.S.	428.3		0.7		—		—		429.0		—		429.0		—
Other	88.5		—		—		—		88.5		—		88.5		—
Total Personal	20,477.6		170.8		14.3		76.2		20,738.9		20.9		20,759.8		17.5
Total Loans	$	41,931.6	$	292.9	$	18.7	$	77.4	$	42,320.6	$	48.9	$	42,369.5	$	32.7
	Other Real Estate Owned										$	—
	Total Nonaccrual Assets										$	48.9


	ACCRUAL														NONACCRUAL WITH NO ALLOWANCE
(In Millions)	CURRENT		30 – 59 DAYS PAST DUE		60 – 89 DAYS PAST DUE		90 DAYS OR MORE PAST DUE		TOTAL ACCRUAL		NONACCRUAL		TOTAL LOANS
December 31, 2022
Commercial
Commercial and Institutional	$	12,353.7	$	40.2	$	3.0	$	0.7	$	12,397.6	$	17.4	$	12,415.0	$	4.4
Commercial Real Estate	4,761.5		1.3		—		—		4,762.8		10.2		4,773.0		6.2
Non-U.S.	3,131.1		—		—		—		3,131.1		—		3,131.1		—
Other	1,316.5		—		—		—		1,316.5		—		1,316.5		—
Total Commercial	21,562.8		41.5		3.0		0.7		21,608.0		27.6		21,635.6		10.6
Personal
Private Client	13,843.5		192.3		29.9		53.3		14,119.0		—		14,119.0		—
Residential Real Estate	6,373.2		9.6		12.3		0.1		6,395.2		18.3		6,413.5		18.3
Non-U.S	509.9		—		—		0.1		510.0		—		510.0		—
Other	215.2		—		—		—		215.2		—		215.2		—
Total Personal	20,941.8		201.9		42.2		53.5		21,239.4		18.3		21,257.7		18.3
Total Loans	$	42,504.6	$	243.4	$	45.2	$	54.2	$	42,847.4	$	45.9	$	42,893.3	$	28.9
	Other Real Estate Owned										$	—
	Total Nonaccrual Assets										$	45.9

Modified Troubled Debt Restructurings

TABLE 46: TROUBLED DEBT RESTRUCTURINGS


($ In Millions)	LOAN MODIFICATION DETAIL	NUMBER OF LOANS AND LEASES	RECORDED INVESTMENT		UNPAID PRINCIPAL BALANCE
March 31, 2022
Commercial
Commercial and Institutional	Other modification	1	$	0.5	$	0.5
Total Commercial		1	0.5		0.5
Personal
Residential Real Estate	Interest rate concession, deferrals of principal, and extension of term	2	0.1		0.1
Total Personal		2	0.1		0.1
Total Loans and Leases		3	$	0.6	$	0.6

Note: Period-end balances reflect all pay downs and charge-offs during the year.

Financing Receivable, Troubled Debt Restructuring

TABLE 44: LOAN MODIFICATIONS MADE TO BORROWERS EXPERIENCING FINANCIAL DIFFICULTY


	TYPE OF LOAN MODIFICATION
THREE MONTHS ENDED MARCH 31, 2023	PRINCIPAL AND INTEREST DEFERRAL
(in $ million)	AMORTIZED COST BASIS		% OF TOTAL SEGMENT






Personal

Residential Real Estate	$	2.9	0.05	%


Total Personal	$	2.9	0.05	%
Total Loans	$	2.9	0.05	%

TABLE 45: FINANCIAL EFFECT OF MODIFICATIONS MADE TO BORROWERS EXPERIENCING FINANCIAL DIFFICULTY


			FINANCIAL EFFECT
PRINCIPAL AND INTEREST DEFERRAL





Personal

Residential Real Estate			Northern Trust provided a weighted average of 180 days payment deferrals to borrowers for immaterial principal and interest deferral amounts. These payments are, in general, due at the end of the deferral period.