CHICAGO--(BUSINESS WIRE)--Northern Trust Corporation (Nasdaq: NTRS), holding company of The Northern Trust Company, announced today that it has temporarily suspended purchases of its common stock under its share repurchase program.
The decision is consistent with broader efforts, including actions of other large U.S.-based banks, to mitigate the impact of the COVID-19 pandemic on individuals, businesses and the economy by maintaining strong capital levels and liquidity in the U.S. financial system.
Northern Trust retains the ability to resume purchases of its common stock under its share repurchase program as soon as circumstances warrant.
Northern Trust remains strong and well-capitalized. Northern Trust has consistently passed the Federal Reserve’s annual stress tests with strong performance and has ample capital and liquidity to serve our clients even during a severe economic downturn.
About Northern Trust
Northern Trust Corporation (Nasdaq: NTRS) is a leading provider of wealth management, asset servicing, asset management and banking to corporations, institutions, affluent families and individuals. Founded in Chicago in 1889, Northern Trust has a global presence with offices in 21 U.S. states and Washington, D.C., and across 22 locations in Canada, Europe, the Middle East and the Asia-Pacific region. As of December 31, 2019, Northern Trust had assets under custody/administration of US $12.1 trillion, and assets under management of US $1.2 trillion. For more than 130 years, Northern Trust has earned distinction as an industry leader for exceptional service, financial expertise, integrity and innovation. Visit northerntrust.com or follow us on Twitter @NorthernTrust.
Northern Trust Corporation, Head Office: 50 South La Salle Street, Chicago, Illinois 60603 U.S.A., incorporated with limited liability in the U.S. Global legal and regulatory information can be found at https://www.northerntrust.com/united-states/terms-and-conditions.