NU Online News Service, Dec. 6, 2004, 5:12 p.m. EST

Bank-based brokers are reporting a 24% drop in productivity for September.[@@]

Brokers who work in banks watched their average production fall to $18,381 that month, from $24,062 in September 2003, according to the Bank Insurance & Securities Association, Wayne, Pa.

The productivity of licensed bankers fell to $1,442 in September, from $2,142 in the comparable month in 2003.

Another indicator, BISA’s bank broker-dealer revenue index, fell to 117, from 126. BISA set the index base at 100 in 1998.

The BISA productivity report is compiled by Kenneth Kehrer Associates, Princeton, N.J. AXA Distributors L.L.C., New York, sponsors the report, and a unit of Bank of America Corp., Charlotte, N.C., serves as the co-sponsor.