Roundup: Northern Trust Buying Dallas' Bent Tree Bank

Northern Trust Corp., Chicago, has signed a definitive agreement to acquire Bent Tree National Bank, Dallas, and its holding company, Metroplex Bancshares, for $14.6 million in cash.

The deal is expected to be completed by the fourth quarter of this year. Bent Tree National Bank has $80.4 million in assets.

Northern Trust chairman William A. Osborn said the acquisition would help the bank's expansion strategy.

Upon completion of the deal, Northern Trust Bank of Texas is to have four locations in both Dallas and Houston.

At June 30, Northern Trust Corp. had total assets of $21.7 billion.

For reprint and licensing requests for this article, click here.
MORE FROM AMERICAN BANKER