From here:

“Northern Trust fully supports the U.S. government’s efforts to strengthen our nation’s financial system,” said Frederick H. Waddell, president and chief executive officer of Northern Trust, in a statement. “While our capital ratios exceed, by a considerable margin, those needed to earn the designation ‘well capitalized,’ the program will provide us with additional capital to maximize growth opportunities.”

Apparently they were fine with it until they discovered how hard it can be to stomp out a $1.6 billion fire.

But, in their defense (and I don't defend banks often), marketing is a legitimate part of the game. And giving a toaster to someone with $5 million in your vault is probably an excellent way to find your bank $5 million lighter.

If Northern Trust wants to repay the funds, I say give them a hearty pat on the back and an inkpen to sign the check.