Trust Updates Archive

Annual Survey Trust Assets 2020 Bank Directors Trust Performance Report A.M. Publishing call report irregularities peer comparison pandemic financial institutions trust companies Bernard Garbo Preliminary Performance Findings and Call Report Irregularities

(April 14, 2021 --Chicago, IL) --Most trust institutions appear to have weathered the 2020 pandemic fairly well, based on preliminary findings by Trust Performance Report (TPR). However, most reported a spike in expenses.

TPR is in the process of analyzing data gathered through its annual survey. The survey collects assets, revenue, expense, and other data from more than 1200 institutions, including nearly 200 independent trust companies.

The number of institutions reporting discrepancies between asset and revenue data on the FFIEC Call Report versus on TPR's Annual Survey declined in 2020, compared to prior years. However, unlike prior years, when discrepancies existed, a higher percentage of institutions in 2020 reported significant differences between revenue or asset totals (on TPR's Annual Survey versus the FFIEC Call Report).

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

For more information on trust industry statistics and benchmarks, see the upcoming issue of Trust Performance Report 2021 and join our Linkedin group (TrustUpdates -- Statistics and Strategies)

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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 more than 1200 fiduciary institutions, including nearly 200 independent trust companies. 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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