1 new paragraph in the 10-K, 4 new in the latest 10-Q
Paragraphs with nothing like them in last year's 10-K
1 paragraph in Risk Factors of the 10-K filed Feb 24, 2026 with nothing like it in the 10-K filed Feb 24, 2025. Quoted exactly. Paragraphs that were only edited are under 10-K change.
Compared with the Risk Factors in the latest 10-K of the other 75 Financials companies: a paragraph with at least half its words the same at another company is called similar, and the companies are listed under it. A paragraph most of them have is marked boilerplate. No line means no other company has one like it. This counts text; it does not say how serious a risk is.
Moreover, political and policy goals of elected and appointed officials may change over time, which could impact the rulemaking, supervision, examination, and enforcement priorities of the federal banking agencies. It is possible the expected changed in law, regulation and policy do not occur or are reversed subsequently, or the regulatory measures that are ultimately enacted deliver significant competitive advantages to financial services that are structured differently or serve different markets than us.
Read in the 10-K ↗
Paragraphs in the 10-Q filed Oct 29, 2026 that were not in the one before
4 paragraphs in the 10-Q filed Oct 29, 2026 with nothing like them in the 10-Q filed Jul 30, 2026 (at least half the words must differ; new numbers alone do not count). Quoted exactly, grouped by the item heading above them. This is text that changed, not a judgement of how serious it is.
10-Q
SELECTED BALANCE SHEET DATA ($ In Millions) SEPTEMBER 30, 2026 DECEMBER 31, 2025 % CHANGE(1)
Read in the 10-Q ↗
(3) The current-year quarter $34.0 million gain on the sale of the guardianship services business is included within Wealth Management Other Noninterest Income.
Read in the 10-Q ↗
Financial statements and notes
(3) Other includes the reduction in the current year valuation allowance attributable to U.S. foreign tax credits.
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On October 1, 2026, Northern Trust redeemed all 5,000 outstanding shares of its Series D Non-Cumulative Perpetual Preferred Stock, $ 100,000 liquidation preference per share, and the corresponding redemption of all 500,000 outstanding depositary shares.
Read in the 10-Q ↗
The 10-Q's risk factors against the 10-K
Item 1A of the 10-Q filed Oct 29, 2026 against Item 1A of the 10-K filed Feb 24, 2026.
A 10-Q repeats only the risks that changed, so a 10-K paragraph that is missing from it is not counted as removed.
Added is a paragraph with nothing like it in the 10-K, Reworded a sentence that is in both with several words changed,
Quiet changes a sentence in both where one to four words changed and one is a hedge or a modal
(cut words struck through, new words highlighted and underlined).
Text on the page, not a score; each links to the filing at sec.gov.
What the 10-Q itself says about its risk factors:
Read in the 10-Q ↗
Refer to “Risk Factors” in our Annual Report on Form 10-K for the year ended December 31, 2025, for a discussion of risks identified as being most significant to Northern Trust.
1 paragraph in the 10-Q's Item 1A, and none of them adds, rewords or quietly edits a paragraph of the 10-K's.