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Sluggish Asset and Revenue Performance Fiduciary Assets Trust Performance Report trust companies second quarter 2019 bank assets revenue expenses trust divisions A.M. Publishing peer comparison financial institutions trust companies banks BlackRock Wells Fargo State Street US Bank Northern Trust Chase Citibank USAA Bernard Garbo Sluggish Revenue Performance, Assets Fare Better; Largest Players Report Worst Growth

(Sept. 18, 2019 --Chicago, IL) -- Asset growth is outpacing growth in gross revenues across all peer groups in 2019, according to Trust Performance Report's analysis of second quarter results. Large institutions, especially those with total assets greater than $100 billion, reported the worst revenue growth. Declines in custody revenue were the principal cause.

Overall, nine out of every 10 institutions reported asset gains, as compared with six out of 10 institutions that reported revenue gains. Revenue performance reflects results reported by midtiers and small institutions. Among large institutions, only three out of 10 institutions reported revenue gains.

Based on historical data, Trust Performance Report projects that total annual gross revenues for the industry will be down 3 percent in 2019, as compared to 2018.

A decline in revenue growth was expected based on A.M. Publishing/Trust Performance Report's annual survey of trust executives conducted in March. However, the large decline in gross revenues in total dollars was not.

The weighted average growth for assets remained the same in the second quarter as in the first, however, the median increased significantly. While good news, the average asset growth rate is still far below that of stock indices, which it usually mirrors.

Generating solid revenues is of course not a guarantee of profits. To assist trust executive in gauging their operations, Fiduciary Earnings & Expenses (TPR's sister publication) has expanded its analysis of productivity benchmarks to include revenue per employee and profit per employee. Industry productivity remains fairly stable, with the exception of large-bank trust divisions, according to FEE 2019's preliminary findings. FEE The report will be issued in October.

To request a complimentary copy of TPR's second quarter report click HERE for a no-obligation trial subscription.

For sample pages of Trust Performance Report 2019, the annual report (published in May 2019) go to

For sample pages of Fiduciary Earnings & Expenses 2018, the annual report (published in October 2018) go to ************************************
Trust Performance Report -- annual data book, published in May, provides both industry and peer group performance data by assets, gross revenue, net income, and account category. Subscribers receive quarterly updates. TPR findings are based on its annual survey of the top 1200 fiduciary institutions. For more best practices and benchmark data see TPR. For information on ordering click here or the link below.

Fiduciary Earnings & Expenses -- annual data book comparing performance among independent trust companies to that of OCC national trust companies and to bank trust divisions, published in late October. For information on ordering click here or the link below.

For Sample copies of both publications click here and then, on the web page, check "Trust Performance Report."

No statement in this issue is offered as or should be construed as legal opinion or advice or as an indicator of future performance.
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