Community banks and credit unions generated $531 in brokerage revenue per $1 million of bank retail deposits during the first quarter, up 24% from the total for the first quarter of 2006.
Kehrer-LIMRA, a division of LIMRA International, Windsor, Conn., has published those figures in a summary of results from its latest community bank brokerage revenue index.
Retail account revenue penetration was higher at smaller banks than at larger banks for the first time since Kehrer-LIMRA began conducting the survey series, the firm reports.
The average financial advisor in a community bank or credit union produced gross sales commissions of $16,692 per month during the first quarter, excluding trail commissions and advisory fees, compared with an average of $17,799 per month recorded in the first quarter of 2006, according to Kehrer-LIMRA.