Trust Updates Archive
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(Jan. 10, 2023 --Chicago, IL) -- Independent trust companies are spending more on data services than their bank-trust-division counterparts, according to Fiduciary Earnings & Expenses 2022. This spending appears to reflect increased concerns with cybersecurity. Among bank trust divisions, only large institutions reported an increase in the average dollar outlay for data services, compared to the prior year. Small and midtier bank trust divisions reported marginal declines. Large bank trust divisions reported an increase in the average dollar outlay, to nearly $3.9 million, up from $3.1 million. Large independents, meanwhile, reported an average dollar layout of more than $5 million. The allocation for data-service expenses increased significantly for small independents, which reported a near doubling in the average dollar layout, to $598,000, up from $280,000 in the prior year. The average reported spending by small bank trust divisions was $209,000, down from $239,000. Expense allocations and outlays among independent trust companies is considered to be a better barometer of "real" expenditures versus the outlays of bank trust divisions. The data services expenses of most bank trust divisions are most often allocated as an overhead expense and usually do not reflect direct costs. Among all trusts institutions, controlling expenses is the third-highest concern reported by trust executives, in A.M. Publishing's Annual Survey of Trust Assets. The survey is contacted annually in March. For sample pages of: + Trust Performance Report 2022, go to http://trustupdates.com/TPR2022_Sample.pdf + Trust Performance Report 2022 semiannual report go to http://trustupdates.com/TPR2022_Q2_sample.pdf + Fiduciary Earnings & Expenses 2022 go to http://trustupdates.com/FEE2022_sample.pdf … for information on ordering, see below. Updates are also available on LinkedIn ************************************ DATA BOOKS Trust Performance Report -- the 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 semiannual 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 -- the annual data book compares 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." Data Files -- a spreadsheet version of Trust Performance Report is available. For more information on rates, please visit http://trustupdates.com/Subscribe/Data_Files/ … Discounts apply for subscribers to Trust Performance Report. For more information on discounts, please email: dataorders@trustupdates.com ******************** No statement in this issue is offered as or should be construed as legal opinion or advice or as an indicator of future performance. To subscribe to Trust Updates or for a trial subscription go to http://www.trustupdates.com/Subscribe/Free_and_Trial/ To unsubscribe to Trust Updates go to To subscribe, click on the link below : • Trust Performance Report or • Fiduciary Earnings & Expenses Subscription request can also be entered by calling 800-404-2116. • 1992-2023 Copyright© A.M. Publishing, Inc., Trust Updates |