NORTHERN TRUST <NTRS> NET HURT BY BRAZIL LOANS
Northern Trust Corp said its first
quarter earnings were reduced by 875,000 dlrs by placing 53.2
mln dlrs of loans to Brazil and six mln dlrs in loans to
Ecuador on a cash basis.
    Should these loans remain on nonperforming basis for the
rest of 1987, net income for year will be cut by about 3.2 mln
dlrs, the bank said.
    Earlier it posted net income for the period of 14.7 mln
dlrs or 87 cts a share, up from 11.7 mln dlrs or 73 cts a
share.
    Total nonperforming assets were 114.1 mln dlrs at March 31,
up from 53.4 mln dlrs at December 31 and 79 mln dlrs at March
31, 1986 the bank said.
    The provision for loan losses for the first quarter was
eight mln dlrs compared to 11 mln a year ago. Net loan charge
offs were six mln dlrs, down from 11 mln dlrs a year ago.
    The reserve for loan losses was 78.1 mln dlrs, or two pct
of outstanding loans, higher than the 56 mln dlrs of 1.65 pct
of loans outstanding at March 31, 1986.
   
 Reuter
