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March 02, 2006 at 10:02 AM
Community banks and credit unions produced on average $367 in brokerage revenue for every $1 million in deposits during the fourth quarter 2005.
The revenue penetration was up 4% from $354 in the first quarter, according to a study by Kenneth Kehrer Associates, Princeton, N.J., sponsored by Invest Financial Corp., Tampa, Fla., a broker-dealer owned by Jackson National Life Insurance Co.
Banks with more than $4 billion in assets had average revenue penetration of $471 per $1 million of retail deposits in the fourth quarter, 28% more than for the smaller institutions.
