Net income available to common shareholders at State Street decreased 18.8 percent to $531 million in the third quarter, compared with $654 million for the same period last year, the company said in a statement today.

Last year’s third quarter included a net after-tax benefit of $166 million, the majority of which pertained to recoveries associated with the 2008 Lehman Brothers bankruptcy.

Revenue increased about 3 percent to $2.43 billion, compared with $2.36 billion last year. Net interest revenue declined 11.8 percent to $546 million from $619 million last year.

Expenses of $1.72 billion decreased from $1.8 billion in the second quarter of 2013 and increased from $1.42 billion in the third quarter of 2012. Expenses in the third quarter of 2012 reflected a credit of $277 million, composed of recoveries of $362 million associated with the 2008 Lehman Brothers bankruptcy, partly offset by provisions for litigation exposure and other costs of $85 million.

Return on average common shareholders’ equity of 10.8 percent decreased from 11.3 percent in the second quarter of this year and from 13.3 percent in last year’s third quarter.