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Fiduciary Assets Trust Performance Report trust companies executive priorities assets revenue expenses A.M. Publishing peer comparison financial institutions trust banks Reliance Trust Bernard Garbo Trust Revenues Grow as Assets Remain Stable for Most Institutions

(September 24, 2020 --Chicago, IL) -- Assets at trust institutions remained fairly stable at the end of the first six months of 2020, due in large part to stability among financial securities markets. This stability translated to improved revenue growth.

Asset Performance--Overview
Compared to the first half of 2019, most trust institutions (66 percent) reported weighted-average asset growth of 4 percent

Performance year to date -- that is, the asset growth rate compared to January 1 -- saw assets decline by a weighted average of 3 percent. Peer Group 1 (total assets of more than $100 billion) was the only peer group to report year-to-date asset growth -- almost exclusively in custody accounts. Even that growth, however, was nominal at just under 0.5 percent. Nevertheless, because of this growth, industry total assets, in dollars, were substantially unchanged year to date for the 400 reporting institutions: $134.5 trillion on June 30, compared to $134.1 trillion on January 1.

Revenue Performance--Overview
Gross-revenue growth, which last year slowed for all peer groups, remained stable for the first half of 2020. With the exception of Peer Group 2 institutions (assets between $10 billion and $100 billion), revenue growth rates were unusually consistent at 4 percent, both weighted and nonweighted In dollar terms, industry gross revenues for the first half of 2020 exceeded those for the same period in 2019.

Industry gross revenues for the remainder of 2020, based on historical performance, would usually be expected to exceed that of 2019. However, in pandemic times, projections are more difficult.

FEE 2020
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. FEE compares performance among independent trust companies to that of bank trust divisions and to OCC national trust companies. FEE 2020 is scheduled for release the week of October 26.

For complete copy of Trust Performance Report's semiannual report click here and then, on the web page, check "Trust Performance Report." .

Trust Performance Report -- annual data book, published in May (June in 2020), 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. 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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