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Article: NORTHERN TRUST TO ACQUIRE BEACH ONE FINANCIAL SERVICES
- Article from:
- PR Newswire
- Article date:
- December 20, 1993
CopyrightCOPYRIGHT 1993 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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CHICAGO, Dec. 20 /PRNewswire/ -- Northern Trust Corp. (NASDAQ-NMS: NTRS), parent of The Northern Trust Company, Chicago, and Beach One Financial Services, Inc., parent of The Beach Bank of Vero Beach (Florida), have announced a definitive agreement for Northern to acquire Beach One in exchange for $56,150,000 in Northern Trust Common Stock.
Beach Bank will join Northern Trust Bank of Florida, N.A., as a subsidiary of Northern's Florida holding company. Northern Trust Bank of Florida, N.A., has 15 offices throughout South Florida, $1.25 billion in total assets and $10.1 billion in trust assets under administration.
Beach Bank, the largest independent bank and largest ...