The Real Deal Miami

Northern Trust shows solid results

October 28, 2008 11:12AM

Northern Trust Bank in Miami saw income growth and fewer bad loans in the third quarter. The second-largest bank chartered in South Florida, Northern Trust had an income of $39.7 million in the third quarter, up from $36.1 million in the third quarter of 2007. Its bad loan levels continue to decline. The bank’s corporate parent, Chicago-based Northern Trust Corp., will be a beneficiary of the federal banking bailout, getting a $1.5 billion stake from the U.S. Department of the Treasury.