CHICAGO, Oct. 28 /PRNewswire-FirstCall/ -- Northern Trust announced today it will provide correspondent trust and custody-related services for three financial institutions: Republic Bancorp, Inc. in Louisville, Ky.; Merrimack County Savings Bank in Concord, N.H.; and Essex Street Associates in Beverly, Mass. Northern Trust delivers trust accounting and investment management services through the TrustPortal, a wealth management focused solution for financial institutions.

"The TrustPortal will streamline our business by combining trust services, investments, client access and other solutions on a single platform," said Joe Sutter, Vice President of Republic Bancorp. "This multi-functional platform, along with Northern Trust's domestic and global custody capabilities, will provide us with the tools to better serve our clients."

Paul Provost, Senior Investment Executive of Merrimack County Savings Bank said, "Northern Trust's longevity serving correspondent trust clients and focus on relationship management were large factors in our decision. TrustPortal is a flexible solution that will allow us to work with one provider who delivers multiple services."

Essex Street Associates Chief Financial Officer Jim Angelakis said, "The TrustPortal solution provides efficiency and productivity, allowing us to focus on the relationships and decisions that add the most value for our clients."

TrustPortal is an integrated service platform and one-stop Internet entry point for Trust Accounting, Investment Management and Client Internet Access, and Account Review applications. TrustPortal is the evolution of Trust/Rite, the stand-alone Trust Accounting application created by Northern Trust in partnership with Fi-Tek LLC. TrustPortal applications are now installed in more than 140 financial institutions across the United States.

"We have seen a migration from older applications to the TrustPortal resulting from our opportunity to provide a cost-effective, productive environment for all users," said David Batrich, Northern Trust's director of sales for Correspondent Trust Services. Northern Trust has offered services to support the wealth management function at community and regional financial institutions for 25 years and has $100 billion in Correspondent Trust Services assets under custody.

About Northern Trust

Northern Trust Corporation (Nasdaq: NTRS) is a leading provider of investment management, asset and fund administration, banking solutions and fiduciary services for corporations, institutions and affluent individuals worldwide. Northern Trust, a financial holding company based in Chicago, has offices in 18 U.S. states and 16 international locations in North America, Europe, the Middle East and the Asia-Pacific region. As of September 30, 2009, Northern Trust had assets under custody of US$3.6 trillion, and assets under investment management of US$611 billion. For 120 years, Northern Trust has earned distinction as an industry leader in combining exceptional service and expertise with innovative products and technology. For more information, visit www.northerntrust.com.

SOURCE Northern Trust

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