Fourth-quarter profits rose at State Street ( STT) and Mellon Financial ( MEL), two big trust and securities processing banks.

Earnings at Boston-based State Street rose 17% to $291 million, or 86 cents a share, compared to $249 million, or 74 cents a share, a year ago. Fourth-quarter profit came in two cents ahead of the Thomson Financial consensus estimate of 84 cents a share.

Earnings at Mellon, which is merging with Bank of New York ( BK) to create the largest processing and trust bank, rose 14%, also beating Wall Street expectations.

In the quarter, Mellon earned $237 million, or 57 cents a share, compared to $208 million, or 50 cents a share, in the year-ago period.

Income from continuing operations rose to $298 million, or 72 cents a share, compared to $201 million, or 48 cents a share, in the year-ago period. On that basis, Mellon beat the Thomson Financial consensus estimate of 58 cents a share.

If you liked this article you might like

The 10 Best Jobs in America for 2016

20 Best Colleges for Campus Food

10 Consumer Stocks With the Highest Earnings Growth Last Quarter

5 Stocks Dumped by Hedge Funds Last Quarter

15 Most Lucrative Jobs in the Tech Industry