Boston Private Bancorp Inc. last week reported strong net income of $373,000, or seven cents a share, for the third quarter ending Sept. 30.
This is a big jump from the corresponding period in 1993, when the company posted profits of $113,000, or four cents a share. The earnings also rose from the second quarter of this year, when Boston Private Bancorp earned $231,000, or four a share.
Boston Private Bank's total assets were $184 million as of Sept. 30, up from $91 million a year earlier.
For the nine months through September, the company earned $771,000, or 14 cents a share, compared to $292,000, or 11 cents a share, for the corresponding period in 1993.
Assets under administration in the investment-management and trust business recently passed the $125 million mark, according to Timothy L. Vaill, the company's chief executive.
The trust and investments business continues to "receive strong management emphasis," Mr. Vaill said.
Boston Private Bancorp is the parent company if Boston Private Bank and Trust Co., which was founded in 1987. The bank provides private banking and investment services to individuals, their families and their business, and also serves institutional clients.
The Institute of Certified Bankers, a nonprofit organization sponsored by the American Bankers Association, has created a certification program for employee-benefit trust professionals.
Topics covered by the Employee Benefits Certified Trust Professional Program include trust law, fiduciary liability, plan management, master trust, and global custody. The program also reviews the Employee Retirement Income Security Act, Securities and Exchange Commission requirements, and other regulatory topics.
Banks that have already picked employees to attend the program include Comerica Bank, Continental Bank, Corestates Bank, Fleet Financial Group, Midlantic National Bank, Northern Trust Co., and Old Kent Bank and Trust.
"Banks that employ certified professionals obtain a competitive edge," said Quigg Porter, Jr., a senior vice president at Northern Trust, who serves as chairman of the board of advisers for the program.
"They'll be able to demonstrate their commitment to quality service and a well-trained staff, not only to potential customers, but also to regulators."
To gain the certification, candidates must initially pass an exam and sign an ethics statement. The first exam is currently scheduled for summer 1996.
To retain their certification, bankers must take 30 hours of continuing-education courses related to the employee-benefits business every three years, or retake the exam.
