Bank holding companies earned $1.58 billion in annuity fee income in the first half of 2012, up 3.4% from $1.53 billion earned in the first half of 2011, according to the Michael White – ABIA Bank Annuity Fee Income Report.

But the seemingly good news isn’t cause for celebration. The uptick in income was due to the fact that more banks – namely thrift holding companies and bank holding company Raymond James Financial – began reporting insurance fee income for the first time.  If fee income from the new banks were subtracted from the total, the first-half results would fall to $1.41 billion, or 8% less than the $1.53 billion earned last year, Michael White, the author of the report, said in an email.

Register or login for access to this item and much more

All Bank Investment Consultant content is archived after seven days.

Community members receive:
  • All recent and archived articles
  • Conference offers and updates
  • A full menu of enewsletter options
  • Web seminars, white papers, ebooks

Don't have an account? Register for Free Unlimited Access