Harris Bankcorp`s third-quarter net earnings rose 13 percent, to $32.8 million, or $4.92 a share, from $29 million, or $4.35 a share, a year earlier. Chairman B. Kenneth West attributed the increase primarily to higher trust and foreign exchange revenue and a reduction in provisions for credit losses.
The provision for credit losses in the quarter was $15.4 million, down from $21.6 million a year earlier. Non-interest expenses were $38.3 million, up 10 percent from a year earlier.
For the nine months ended Sept. 30, net income rose 8 percent, to $82.49 million, or $12.37 a share, from $76.2 million, or $11.43 a share, a year earlier. Harris Bankcorp is a subsidiary of the Bank of Montreal.
Buoyed by a 59 percent gain in trading, deposit and operational service income and an 18 increase in net interest income, LaSalle National Corp. reported third-quarter profits of $23.9 million, up 6 percent from $22.5 million a year earlier.
Net income for the first nine months was $70.4 million, up 14 percent from $61.6 million in 1991. Operating expenses for the first nine months also rose 39 percent, which officials attributed primarily to expansion that supports LaSalle`s affiliate network. LaSalle National is owned by the Dutch banking giant ABN AMRO.
