CHICAGO -- Northern Trust Corp. said it had committed to invest $1 million in nonvoting common shares of the parent of South Shore Bank in Chicago, widely regarded as the model for inner-city community development banks.

Northern Trust said its investment is in response to Shorebank Corp.'s request for help earlier this year from major Chicago financial institutions. The two largest, First Chicago Corp. and Continental Corp., announced a combined $4.5 million investment in March.

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