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View More Press Releases by Meyer-Chatfield

Press release:

Michael White and Meyer-Chatfield Report: BOLI Assets Hit Record $138.4 Billion in First Half 2010

Issued by: Meyer-Chatfield

Date: Nov. 2, 2010

Radnor, PA, and Jenkintown, PA, November 1, 2010 - Bank-owned life insurance (BOLI) assets reached $138.40 billion in the first half of 2010, reflecting a 3.3% increase from $133.97 billion in the first half of 2009, according to the Michael White-Meyer-Chatfield Bank- Owned Life Insurance (BOLI) Holdings Report.  The first half 2010 total for BOLI holdings is the sum of BOLI assets held by large bank holding companies (BHCs), stand-alone banks, and savings associations (i.e., thrifts). BOLI is used to recover costs of employee benefits and offset the liabilities of retirement benefits, helping banks to keep up with the rising benefit costs.

Compiled by Michael White Associates, LLC (MWA) and sponsored by Meyer-Chatfield, the Michael White-Meyer-Chatfield BOLI Holdings Report measures and benchmarks the cash surrender values (CSV) of life insurance and ratio of CSV to capital possessed by BHCs and banks. The data herein were reported by 930 large top-tier BHCs with assets greater than $500 million and 7,830 commercial banks, thrifts and FDIC-supervised savings banks operating on June 30, 2010.

For more information: http://www.bankinsurance.com/about/press-releases/2010-11-01-PR-BOLI-HR-2010-2Q.pdf

View More Press Releases by Meyer-Chatfield

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