NU Online News Service, April 7, 2004, 9:00 a.m. EST – Banks earned $3.6 billion in commissions and fees from insurance in 2003, up 3% from $3.49 billion in 2002, according to a new study by Michael White Associates, Radnor, Pa.
MWA’s 2003 Year-End Bank Insurance & Investment Fee Income Report, based on data from all 8,254 commercial and federally insured savings banks, notes 2003 was the second year in a row more than half of U.S. banks earned insurance revenue.