Community banks’ investment programs earned about $496 million in income in 2007.

Researchers at Michael White Associates, Radnor, Pa., have reported that figure in an analysis of investment income data from 7,534 commercial and Federal Deposit Insurance Corp.-regulated savings banks with assets under $4 billion.

In 2007, 23% of community banks were selling investment products, according to MWA.

The community banks in the investment product market earned an average of $904 in program income per $1 million in retail bank deposits, MWA reports.

Larger banks with investment product programs averaged $1,392 in investment program income per $1 million in retail deposits.