State Street : 1Q 2025 Earnings 1Q25 Financial Tables

Published: 2025-04-17 12:26:32 ET STT

Exhibit 99.2

STATE STREET CORPORATION

EARNINGS RELEASE ADDENDUM

March 31, 2025

Table of Contents

GAAP-Basis Financial Information:

4-Year Summary of Results

Consolidated Results of Operations

Consolidated Statement of Condition

Average Statement of Condition - Rates Earned and Paid - Fully Taxable-Equivalent Basis

Selected Average Balances by Currency - Rates Earned and Paid

Investment Portfolio Holdings by Asset Class

Allowance for Credit Losses

Assets Under Custody and/or Administration

Assets Under Management

Line of Business Information

Capital:

Regulatory Capital

Reconciliations of Tangible Book Value per Share and Return on Tangible Common Equity

Non-GAAP Financial Information:

Reconciliations of Non-GAAP Financial Information

Reconciliation of Pre-tax Margin Excluding Notable Items

Reconciliations of Constant Currency FX Impacts

This financial information should be read in conjunction with State Street's news release dated April 17, 2025.

STATE STREET CORPORATION EARNINGS RELEASE ADDENDUM 4-YEAR SUMMARY OF RESULTS

(Dollars in millions, except per share amounts, or where otherwise noted)

Year ended December 31:

Total fee revenue

Net interest income Other income Total revenue Provision for credit losses Total expenses

Income before income tax expense Income tax expense

Net income

Net income available to common shareholders Per common share:

Diluted earnings per common share

Average diluted common shares outstanding (in thousands) Cash dividends declared per common share

Closing price per share of common stock (at year end) Average balance sheet:

Investment securities Total assets

Total deposits

Ratios and other metrics:

Return on average common equity

Return on average tangible common equity(1) Pre-tax margin

Pre-tax margin, excluding notable items(2)

Net interest margin, fully taxable-equivalent basis Common equity tier 1 ratio(3)(4)

Tier 1 capital ratio(3)(4) Total capital ratio(3)(4) Tier 1 leverage ratio(3) Supplementary leverage ratio(3)

Assets under custody and/or administration (in trillions) Assets under management (in trillions)

2021

2022

2023

2024

10,012

9,606

9,480

10,156

1,905

2,544

2,759

2,923

110

(2)

(294)

(79)

12,027

12,148

11,945

13,000

(33)

8,889

8,801

9,583

9,530

3,171

3,327

2,316

3,395

478

553

372

708

2,693

2,774

1,944

2,687

2,572

2,660

1,821

2,483

7.19

5.58

8.21

357,962

370,109

326,568

302,226

2.18

2.40

2.64

2.90

93.00

77.57

77.46

98.15

111,730

111,929

105,765

104,784

299,743

286,430

274,696

311,723

235,404

222,874

205,111

225,611

10.7 %

11.1 %

8.2 %

11.1 %

17.2

17.4

13.3

17.9

26.4

27.4

19.4

26.1

27.6

28.4

26.4

27.6

0.74

1.03

1.20

1.10

14.3

13.6

11.6

10.9

16.1

15.4

13.4

13.2

17.5

16.8

15.2

14.8

6.1

6.0

5.5

5.2

7.4

7.0

6.2

43.68

36.74

41.81

46.56

4.14

3.48

4.13

4.72

STATE STREET CORPORATION

EARNINGS RELEASE ADDENDUM

CONSOLIDATED RESULTS OF OPERATIONS

Quarters

% Change

1Q25

(Dollars in millions, except per share amounts, or where otherwise noted)

1Q24

2Q24

3Q24

4Q24

1Q25

vs.

1Q24

4Q24

Fee revenue:

Servicing fees

1,228

1,239

1,266

1,283

1,275

3.8 %

(0.6)%

Management fees

510

511

527

576

562

10.2

(2.4)

Foreign exchange trading services

331

336

374

360

362

9.4

0.6

Securities finance

108

116

118

114

18.8

(3.4)

Front office software and data

144

152

146

197

158

9.7

(19.8)

Lending related and other fees

6.3

8.1

Software and processing fees

207

214

208

259

225

8.7

(13.1)

Other fee revenue

125

(36.0)

(51.5)

Total fee revenue

2,422

2,456

2,616

2,662

2,570

6.1

(3.5)

Net interest income:

Interest income

2,889

2,998

3,081

3,009

2,922

1.1

(2.9)

Interest expense

2,173

2,263

2,358

2,260

2,208

1.6

(2.3)

Net interest income

716

735

723

749

714

(0.3)

(4.7)

Other income:

Gains (losses) related to investment securities, net

(80)

Total other income

(80)

Total revenue

3,138

3,191

3,259

3,412

3,284

4.7

(3.8)

Provision for credit losses

(55.6)

Expenses:

Compensation and employee benefits

1,252

1,099

1,134

1,212

1,262

0.8

4.1

Information systems and communications

432

454

463

480

497

15.0

3.5

Transaction processing services

248

250

255

245

258

4.0

5.3

Occupancy

103

106

105

123

103

(16.3)

Amortization of other intangible assets

(10.0)

Other

418

300

295

326

276

(34.0)

(15.3)

Total expenses

2,513

2,269

2,308

2,440

2,450

(2.5)

0.4

Income before income tax expense

598

912

925

960

822

37.5

(14.4)

Income tax expense

135

201

195

177

178

31.9

0.6

Net income

463

711

730

783

644

39.1

(17.8)

STATE STREET CORPORATION

EARNINGS RELEASE ADDENDUM

CONSOLIDATED RESULTS OF OPERATIONS (Continued)

Quarters

% Change

1Q25

(Dollars in millions, except per share amounts, or where otherwise noted)

1Q24

2Q24

3Q24

4Q24

1Q25

vs.

1Q24

4Q24

Adjustments to net income:

Dividends on preferred stock

(45)

(55)

(48)

(54)

(46)

2.2 %

14.8 %

Earnings allocated to participating securities

(1)

Net income available to common shareholders

418

655

682

728

597

42.8

(18.0)

Per common share:

Basic earnings

1.38

2.18

2.29

2.50

2.07

50.0

(17.2)

Diluted earnings

1.37

2.15

2.26

2.46

2.04

48.9

(17.1)

Average common shares outstanding (in thousands):

Basic

301,991

300,564

297,365

291,686

288,562

(4.4)

(1.1)

Diluted

305,943

304,765

301,847

296,420

292,716

(4.3)

(1.2)

Cash dividends declared per common share

0.69

0.76

10.1

Closing price per share of common stock (as of quarter end)

77.32

74.00

88.47

98.15

89.53

15.8

(8.8)

Book value per common share

72.85

74.50

78.22

77.95

80.13

10.0

2.8

Tangible book value per common share(1)

45.06

46.10

49.22

49.14

51.23

13.7

4.3

Balance sheet averages:

Investment securities

101,318

105,098

107,364

105,322

110,070

8.6

4.5

Total assets

298,570

306,298

314,640

327,181

337,291

13.0

3.1

Total deposits

218,892

220,881

225,482

237,066

243,036

11.0

2.5

Ratios and other metrics:

Effective tax rate

22.5 %

22.1 %

21.1 %

18.4 %

21.7 %

(0.8)% pts

3.3 % pts

Return on average common equity

7.7

11.9

12.0

12.7

10.6

2.9

(2.1)

Return on average tangible common equity(2)

12.4

19.3

20.3

16.4

4.0

(3.9)

Pre-tax margin

19.1

28.6

28.4

28.1

25.0

5.9

(3.1)

Pre-tax margin, excluding notable items(3)

23.2

28.6

28.4

29.8

25.0

1.8

(4.8)

Net interest margin, fully taxable-equivalent basis

1.13

1.07

1.00

(0.1)

Common equity tier 1 ratio(4)(5)

11.1

11.2

11.6

10.9

11.0

(0.1)

0.1

Tier 1 capital ratio(4)(5)

13.2

13.3

13.9

13.2

13.8

0.6

Total capital ratio(4)(5)

14.9

15.0

15.6

14.8

15.3

0.4

0.5

Tier 1 leverage ratio(4)

5.4

5.3

5.5

5.2

5.5

0.1

0.3

Supplementary leverage ratio(4)

6.5

6.3

6.4

6.2

6.5

0.3

Assets under custody and/or administration (in billions)

43,912

44,312

46,759

46,557

46,733

6.4 %

0.4 %

Assets under management (in billions)

4,299

4,369

4,732

4,715

4,665

8.5

(1.1)

Average securities on loan(6)

301,247

334,675

349,113

354,372

358,869

19.1

1.3

nm Denotes not meaningful

STATE STREET CORPORATION

EARNINGS RELEASE ADDENDUM

CONSOLIDATED STATEMENT OF CONDITION

As of

% Change

1Q25

(Dollars in millions, except per share amounts)

March 31, 2024

June 30, 2024

September 30, 2024

December 31, 2024

March 31, 2025

vs.

1Q24

4Q24

Assets:

Cash and due from banks

3,413

2,898

4,067

3,145

4,658

36.5 %

48.1 %

Interest-bearing deposits with banks, net

125,486

99,876

105,121

112,957

119,464

(4.8)

5.8

Securities purchased under resale agreements

7,489

6,340

8,334

6,679

7,971

6.4

19.3

Trading account assets

760

780

802

768

743

(2.2)

(3.3)

Investment securities:

Investment securities available-for-sale, net

48,640

56,755

56,853

58,895

67,444

38.7

14.5

Investment securities held-to-maturity, net(1)

52,914

51,051

49,477

47,727

45,505

(14.0)

(4.7)

Total investment securities

101,554

107,806

106,330

106,622

112,949

11.2

5.9

Loans

38,635

39,376

41,961

43,200

44,685

15.7

3.4

Allowance for credit losses on loans(2)

135

136

162

174

176

30.4

1.1

Loans, net

38,500

39,240

41,799

43,026

44,509

15.6

3.4

Premises and equipment, net(3)

2,479

2,539

2,621

2,715

2,784

12.3

2.5

Accrued interest and fees receivable

4,014

4,066

4,160

4,034

4,280

6.6

6.1

Goodwill

7,582

7,751

7,833

7,691

7,763

2.4

0.9

Other intangible assets

1,258

1,209

1,166

1,089

1,046

(16.9)

(3.9)

Other assets

45,468

53,098

56,248

64,514

66,526

46.3

3.1

Total assets

338,003

325,603

338,481

353,240

372,693

10.3

5.5

Liabilities:

Deposits:

Non-interest-bearing

37,367

34,519

31,448

33,180

32,265

(13.7)

(2.8)

Interest-bearing - U.S.

148,485

140,983

145,527

166,483

168,362

13.4

1.1

Interest-bearing - Non-U.S.

66,032

63,658

70,454

62,257

71,429

8.2

14.7

Total deposits(4)

251,884

239,160

247,429

261,920

272,056

8.0

3.9

Securities sold under repurchase agreements

3,576

2,716

2,119

3,681

3,524

(1.5)

(4.3)

Other short-term borrowings

11,541

13,571

10,018

9,840

11,849

2.7

20.4

Accrued expenses and other liabilities

26,823

25,657

32,185

29,201

33,726

25.7

15.5

Long-term debt

19,746

19,737

20,902

23,272

24,846

25.8

6.8

Total liabilities

313,570

300,841

312,653

327,914

346,001

10.3

5.5

Shareholders' equity:

Preferred stock, no par, 3,500,000 shares authorized:

Series G, 5,000 shares issued and outstanding

493

Series H, 5,000 shares issued and outstanding

494

Series I, 15,000 shares issued and outstanding

1,481

Series J, 8,500 shares issued and outstanding

842

Series K, 7,500 shares issued and outstanding

743

Common stock, $1 par, 750,000,000 shares authorized(5)(6)

504

Surplus

10,724

10,721

10,723

10,722

10,693

(0.3)

Retained earnings

28,166

28,615

29,073

29,582

29,959

6.4

1.3

Accumulated other comprehensive income (loss)

(2,369)

(2,314)

(1,625)

(2,100)

(1,792)

24.4

14.7

Treasury stock, at cost(7)

(15,060)

(15,232)

(15,663)

(16,198)

(16,231)

(7.8)

(0.2)

Total shareholders' equity

24,433

24,762

25,828

25,326

26,692

9.2

5.4

Total liabilities and equity

338,003

325,603

338,481

353,240

372,693

10.3

5.5

46,823

44,916

44,925

41,906

40,424

(1) Fair value of investment securities held-to-maturity

(2) Total allowance for credit losses including off-balance sheet commitments

146

145

171

183

186

(3) Accumulated depreciation for premises and equipment

6,193

6,318

6,400

6,461

6,635

(4) Average total deposits

218,892

220,881

225,482

237,066

243,036

(5) Common stock shares issued

503,879,642

(6) Total common shares outstanding

301,504,470

299,231,005

294,191,001

288,766,452

288,676,229

(7) Treasury stock shares

202,375,172

204,648,637

209,688,641

215,113,190

215,203,413

nm Denotes not meaningful

STATE STREET CORPORATION

EARNINGS RELEASE ADDENDUM

AVERAGE STATEMENT OF CONDITION - RATES EARNED AND PAID - FULLY TAXABLE-EQUIVALENT BASIS(1)

The following table presents average rates earned and paid, on a fully taxable-equivalent basis, on consolidated average interest-earning assets and average interest-bearing liabilities for the quarters indicated. Tax-equivalent adjustments were calculated using a federal income tax rate of 21%, adjusted for applicable state income taxes, net of related federal benefit.

Quarters

% Change

1Q25

1Q24

2Q24

3Q24

4Q24

1Q25

vs.

1Q24

4Q24

(Dollars in millions; fully-taxable equivalent basis)

Average

balance

rates

balance

rates

balance

rates

balance

rates

balance

rates

balance

Assets:

Interest-bearing deposits with banks, net

90,230

4.45 %

87,894

4.25 %

86,884

4.02 %

90,018

3.67 %

92,780

3.36 %

2.8 %

3.1 %

Securities purchased under resale agreements(2)

6,118

10.97

6,558

10.17

6,991

10.44

7,480

9.04

7,716

8.66

26.1

3.2

Trading account assets

767

779

788

795

756

0.15

(1.4)

(4.9)

Investment securities:

Investment securities available-for-sale, net

46,497

4.93

53,204

5.06

57,302

5.13

57,205

4.90

63,428

4.57

36.4

10.9

Investment securities held-to-maturity, net

54,821

2.14

51,894

2.14

50,062

2.12

48,117

2.11

46,642

2.07

(14.9)

(3.1)

Total investment securities

101,318

3.42

105,098

3.62

107,364

3.73

105,322

3.63

110,070

3.51

8.6

4.5

Loans(3)

37,747

5.82

38,703

5.85

39,782

5.79

42,377

5.48

43,730

5.17

15.9

3.2

Other interest-earning assets

18,153

6.92

22,708

6.92

27,697

6.35

32,534

5.76

34,464

5.49

89.9

5.9

Total interest-earning assets

254,333

4.57

261,740

4.61

269,506

4.55

278,526

4.30

289,516

4.09

13.8

3.9

Cash and due from banks

4,608

2,861

3,417

3,811

4,516

(2.0)

18.5

Other non-interest-earning assets

39,629

41,697

41,717

44,844

43,259

9.2

(3.5)

Total assets

298,570

306,298

314,640

327,181

337,291

13.0

3.1

Liabilities:

Interest-bearing deposits:

U.S.

129,846

4.22 %

132,162

4.15 %

135,440

4.16 %

146,040

3.79 %

154,462

3.54 %

19.0 %

5.8 %

Non-U.S.

62,087

1.80

63,767

1.72

65,824

1.70

64,871

1.62

63,677

1.38

2.6

(1.8)

Total interest-bearing deposits(4)

191,933

3.44

195,929

3.36

201,264

3.35

210,911

3.12

218,139

2.91

13.7

3.4

Securities sold under repurchase agreements

3,122

5.06

3,404

5.07

2,193

4.98

3,937

4.67

4,530

4.54

45.1

15.1

Other short-term borrowings

8,314

4.85

13,073

5.15

13,639

5.16

10,656

4.96

11,848

4.64

42.5

11.2

Long-term debt

18,944

5.44

19,694

5.44

20,258

5.27

22,658

5.18

23,742

5.00

25.3

4.8

Other interest-bearing liabilities

4,430

12.29

4,753

12.57

5,238

14.41

4,873

10.93

5,471

11.76

23.5

12.3

Total interest-bearing liabilities

226,743

3.85

236,853

3.84

242,592

3.87

253,035

3.55

263,730

3.40

16.3

4.2

Non-interest-bearing deposits(5)

26,959

24,952

24,218

26,155

24,897

(7.6)

(4.8)

Other non-interest-bearing liabilities

20,233

19,964

22,119

22,431

22,554

11.5

0.5

Preferred shareholders' equity

2,785

2,468

3,020

2,816

3,263

17.2

15.9

Common shareholders' equity

21,850

22,061

22,691

22,744

22,847

4.6

0.5

Total liabilities and shareholders' equity

298,570

306,298

314,640

327,181

337,291

13.0

3.1

Total deposits

218,892

220,881

225,482

237,066

243,036

11.0

2.5

Excess of rate earned over rate paid

0.72 %

0.77 %

0.68 %

0.74 %

0.70 %

Net interest margin

1.13 %

1.07 %

1.00 %

Net interest income, fully taxable-equivalent basis

717

736

724

749

714

Tax-equivalent adjustment

(1)

Net interest income, GAAP-basis(4)

716

735

723

749

714

nm Denotes not meaningful

STATE STREET CORPORATION

EARNINGS RELEASE ADDENDUM

SELECTED AVERAGE BALANCES BY CURRENCY - RATES EARNED AND PAID(1)

1Q25

USD

EUR

GBP

Other

Total

(Dollars in millions, except where otherwise noted)

Average

Balance

Rates

Balance

Rates

Balance

Rates

Balance

Rates

Balance

Rates

Interest-bearing deposits with banks

42,137

4.52 %

25,385

2.71 %

5,709

4.68 %

19,549

1.30 %

92,780

3.36 %

Total investment securities

91,215

3.47

7,339

2.51

5,487

4.52

6,029

4.42

110,070

3.51

Loans

35,740

5.27

6,085

4.54

1,349

6.00

556

3.70

43,730

5.17

Total other interest-earning assets(2)

40,091

6.10

203

2.28

138

3.47

2,504

4.35

42,936

5.97

Total interest-earning assets

209,183

4.51

39,012

2.96

12,683

4.76

28,638

2.28

289,516

4.09

Total interest-bearing deposits(3)(4)

153,068

3.74

33,657

1.63

10,772

1.94

20,642

(0.65)

218,139

2.91

Central Bank Rate(5)

4.50

2.76

4.60

4Q24

USD

EUR

GBP

Other

Total

(Dollars in millions, except where otherwise noted)

Average

Balance

Rates

Balance

Rates

Balance

Rates

Balance

Rates

Balance

Rates

Interest-bearing deposits with banks

40,424

4.73 %

26,655

3.15 %

6,409

4.80 %

16,530

1.44 %

90,018

3.67 %

Total investment securities

86,269

3.57

7,763

2.64

4,813

4.72

6,477

4.69

105,322

3.63

Loans

34,448

5.49

6,126

5.17

1,272

6.59

531

5.37

42,377

5.48

Total other interest-earning assets(2)

37,934

6.41

3.62

7.24

2,760

4.06

40,809

6.25

Total interest-earning assets

199,075

4.67

40,613

3.36

12,540

4.95

26,298

2.59

278,526

4.30

Total interest-bearing deposits(3)(4)

144,667

4.00

33,589

1.94

11,250

1.94

21,405

(0.35)

210,911

3.12

Central Bank Rate(5)

4.81

3.24

4.85

1Q24

USD

EUR

GBP

Other

Total

(Dollars in millions, except where otherwise noted)

Average

Balance

Rates

Balance

Rates

Balance

Rates

Balance

Rates

Balance

Rates

Interest-bearing deposits with banks

44,424

5.54 %

25,275

3.83 %

6,941

5.11 %

13,590

1.70 %

90,230

4.45 %

Total investment securities

81,305

3.45

8,901

2.55

4,161

3.87

6,951

3.94

101,318

3.42

Loans

30,599

5.86

5,450

5.45

1,105

7.02

593

4.52

37,747

5.82

Total other interest-earning assets(2)

22,662

8.14

111

3.99

5.90

2,202

3.41

25,038

7.70

Total interest-earning assets

178,990

4.98

39,737

3.77

12,270

4.87

23,336

2.61

254,333

4.57

Total interest-bearing deposits(3)(4)

127,920

4.45

33,145

2.20

11,411

1.78

19,457

(0.15)

191,933

3.44

Central Bank Rate(5)

5.50

4.00

5.25

STATE STREET CORPORATION

EARNINGS RELEASE ADDENDUM

INVESTMENT PORTFOLIO HOLDINGS BY ASSET CLASS

Quarters

1Q24

2Q24

3Q24

4Q24

1Q25

(Dollars in billions, except where otherwise noted)

Average

Average Rate

Average

Average Rate

Average

Average Rate

Average

Average Rate

Average

Average Rate

Balance

Available-for-sale investment securities:

Government & agency securities

25.1

4.44 %

31.4

4.73 %

35.0

4.89 %

35.3

4.59 %

41.3

4.29 %

U.S. Treasury direct obligations

9.6

5.11

15.6

5.27

18.7

5.12

20.4

4.95

26.5

4.48

Non-U.S. sovereign, supranational and non-U.S.

15.5

4.03

15.8

4.20

16.3

4.63

14.9

4.11

14.8

3.96

agency

Asset-backed securities

6.9

5.61

7.2

5.68

7.6

5.53

8.1

5.41

7.8

5.09

Mortgage-backed securities

5.6

5.44

5.9

5.48

6.2

5.36

6.3

5.36

7.0

5.06

CMBS

5.6

5.81

5.4

5.75

5.1

5.81

4.5

5.55

4.3

4.86

Other

3.3

4.63

3.3

4.85

3.4

5.12

3.0

5.20

3.0

5.16

Total available-for-sale portfolio

46.5

4.93

53.2

5.06

57.3

5.13

57.2

4.90

63.4

4.57

1Q24

2Q24

3Q24

4Q24

1Q25

(Dollars in billions, except where otherwise noted)

Average

Average Rate

Average

Average Rate

Average

Average Rate

Average

Average Rate

Average

Average Rate

Balance

Held-to-maturity investment securities:

Government & agency securities

12.7

0.96 %

10.8

0.88 %

10.1

0.82 %

9.3

0.76 %

8.6

0.75 %

U.S. Treasury direct obligations

7.4

1.07

6.1

0.90

5.7

0.76

5.4

0.68

5.0

0.66

Non-U.S. sovereign, supranational and non-U.S.

5.3

0.80

4.7

0.84

4.4

0.90

3.9

0.88

3.6

0.89

agency

Asset-backed securities

3.1

6.15

3.0

6.15

2.7

6.21

2.5

5.92

2.4

5.32

Mortgage-backed securities

33.8

2.25

32.9

2.23

32.1

2.22

31.1

2.24

30.5

2.22

CMBS

5.2

1.93

5.2

1.91

5.2

1.91

5.2

1.90

5.2

1.88

Total held-for-maturity portfolio

54.8

2.14

51.9

2.14

50.1

2.12

48.1

2.11

46.7

2.07

Total investment securities

101.3

3.42

105.1

3.62

107.4

3.73

105.3

3.63

110.1

3.51

STATE STREET CORPORATION

EARNINGS RELEASE ADDENDUM

INVESTMENT PORTFOLIO HOLDINGS BY ASSET CLASS (continued)

Ratings

Net Unrealized Pre-

Fixed Rate/

(Dollars in billions, or where otherwise noted)

UST/AGY

AAA

BBB

Fair Value

% Total

tax MTM Gain/(Loss)

(In millions)(1)

Floating Rate(2)

Available-for-sale investment securities:

Government & agency securities

63 %

21 %

14 %

- %

2 %

- %

43.4

64.4 %

95%

/ 5%

U.S. Treasury direct obligations

100

27.4

63.1

(4)

100%

/ 0%

Non-U.S. sovereign, supranational and non-U.S. agency

16.0

36.9

86% / 14%

Asset-backed securities

8.0

11.9

0% / 100%

Mortgage-backed securities

100

8.5

12.6

(62)

100%

/ 0%

CMBS

100

4.3

6.4

(23)

5% / 95%

Other

3.2

4.7

62% / 38%

Total available-for-sale portfolio

60 %

26 %

11 %

2 %

1 %

- %

67.4

100.0 %

(5)

77% / 23%

Fair Value

40.1

17.4

7.1

1.6

1.0

0.2

Amortized

Net Unrealized Pre-

Fixed Rate/

UST/AGY

AAA

BBB

% Total

tax MTM Gain/(Loss)

Cost

(In millions)(1)

Floating Rate(2)

Held-to-maturity investment securities:

Government & agency securities

57 %

28 %

15 %

- %

7.7

16.9 %

(87)

100%

/ 0%

U.S. Treasury direct obligations

100

4.4

57.1

(34)

100%

/ 0%

Non-U.S. sovereign, supranational and non-U.S. agency

3.3

42.9

(53)

100%

/ 0%

Asset-backed securities

2.5

5.5

(22)

5% / 95%

Mortgage-backed securities

100

30.2

66.4

(4,402)

100%

/ 0%

CMBS

100

5.1

11.2

(570)

97%

/ 3%

Total held-for-maturity portfolio

88 %

6 %

- %

45.5

100.0 %

(5,081)

94%

/ 6%

Amortized Cost

39.8

2.8

0.1

Total Investment Securities(3)

112.9

84%/16%

STATE STREET CORPORATION

EARNINGS RELEASE ADDENDUM

ALLOWANCE FOR CREDIT LOSSES

Quarters

% Change

1Q25

(Dollars in millions)

1Q24

2Q24

3Q24

4Q24

1Q25

vs.

1Q24

4Q24

Allowance for credit losses:

Beginning balance

150

146

145

171

183

22.0 %

7.0 %

Provision for credit losses (funded commitments)

(64.5)

(8.3)

Provision for credit losses (unfunded commitments)

(4)

(2)

Total provision

(55.6)

Charge-offs

(31)

(11)

(9)

(71.0)

Ending balance(1)

146

145

171

183

186

27.4

1.6

Allowance for credit losses:

Loans

135

136

162

174

176

30.4

1.1

Investment securities

Unfunded (off-balance sheet) commitments

(10.0)

All other

Ending balance(1)

146

145

171

183

186

27.4

1.6

Disclaimer

State Street Corporation published this content on April 17, 2025, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on April 17, 2025 at 16:25 UTC.