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Annual Survey Trust Assets Bank Directors Trust Performance Report A.M. Publishing call report irregularities peer comparison financial institutions trust companies Bernard Garbo Call Report Irregularities, or Why We Survey

(March 19, 2021 --Chicago, IL) -- We are often asked why we survey trust divisions of banks when these institutions report their assets and revenues on the Federal Financial Institutions Examination Council (FFIEC) Call Report.

The answer is that that we consistently find notable discrepancies between assets and revenues as reported on the Call Report versus those reported on A.M. Publishing/Trust Performance Report's Annual Report of Trust Assets (Annual Survey).

The number of institutions reporting discrepancies between asset and revenue allocations on the Call Report and those on the Annual Survey continues to grow. Fortunately for bank directors and regulators most discrepancies do not significantly alter revenue or asset totals, but rather impact how those totals are allocated among asset subcategories.

In last year's survey, 6 percent of institutions reported gross revenue discrepancies. Of those:
* a third reported more revenues on A.M. Publishing's Annual Survey than they did on the FFIEC Call Report.
* a quarter reported fewer revenues, and
* the remainder (or approximately 42 percent) reported the same revenues but allocated them differently among the subcategories.

More institutions reported asset discrepancies (15 percent), than revenue discrepancies. However, asset discrepancies tended to be smaller in dollar terms. The asset subcategories most notably impacted were personal trusts and employee benefit trusts.

Expenses were the line item where totals most often disagreed between the Annual Survey and the Call Report.

Discrepancies (between reported assets, revenues, and expenses) tended to occur most frequently among midsized (total fiduciary assets between $1 billion and $10 billion) and large institutions. Among large institutions, discrepancies were seen primarily at those with fiduciary assets between $10 billion and $100 billion.

Trust executives tell Trust Performance Report that the primary reason why discrepancies exist is the bank's or the holding company's call report area generally completes the Schedule RC-T (of the Call Report), while the trust division directly completes A.M. Publishing's Annual Survey of Trust Assets.

For more information on A.M. Publishing's Annual Survey of Trust Assets, which closes on March 30, go to or to our Linkedin group (TrustUpdates--Statistics and Strategies)

For more information on trust industry statistics and benchmarks, see the upcoming issue of Trust Performace Report 2021.
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 a semiannual update. TPR findings are based on its annual survey of nearly 1300 fiduciary institutions. For more best practices and benchmark data see TPR (to obtain a sample copy see below). For information on ordering and Special Introductory Pricing click here or the link below.

Fiduciary Earnings & Expenses -- annual data book comparing performance of independent trust companies to that of OCC national trust companies and to bank trust divisions. For information on ordering and Special Introductory Pricing 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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