NU Online News Service, Dec. 10, 11:17 a.m. – Productivity of brokers in banks increased modestly during October after falling sharply in September, the Bank Insurance & Securities Association, Wayne, Pa., reports.
Broker productivity rose to $24,378 from $24,026 the month before, BISA says.
BISA was known as the Bank Securities Association before its recent merger with the Financial Institutions Insurance Association, Costa Verde, Calif.
There were significant differences in production reported among banks participating in the survey, notes Kenneth Kehrer, head of the Princeton, N.J., research firm Kenneth Kehrer Associates, which conducts the monthly survey.
Productivity of licensed bankers fell slightly in October to $1,684, from $1,699 the month before, and the index of bank broker revenue increased to 110, from 109 in September.
In August, BISA found bank reps’ sales production averaged $29,416, and licensed bankers’ production averaged $1,934, while the index reached 118.