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View More Press Releases by Meyer-Chatfield

Press release:

BOLI Assets Reached Over $142 Billion in 2010, Says Michael White/Meyer-Chatfield Report

Issued by: Meyer-Chatfield

Date: May 23, 2011

Radnor, PA, and Jenkintown, PA, May 23, 2011 - Bank-owned life insurance (BOLI) assets reached $142.43 billion in 2010, according to the 2011 edition of the Michael White/Meyer-Chatfield Bank- Owned Life Insurance (BOLI) Holdings Report.  The banking industry's 2010 total reflected a 5.8% increase from $134.60 billion in 2009 BOLI assets held by large bank holding companies (BHCs), stand-alone banks and savings associations. BOLI is used to recover costs of employee benefits and offset the liabilities of retirement benefits, helping banks to keep up with 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 ratios of CSV to capital attained by BHCs, banks and thrifts. The data in this report were submitted to regulators by 911 large top-tier BHCs with assets greater than $500 million and all 7,657 commercial banks, savings banks, and savings associations or thrifts that were operating on December 31, 2010.

For more information: http://www.bankinsurance.com/about/press-releases/2011-05-23-PR-BOLI-HR-2010.pdf

View More Press Releases by Meyer-Chatfield

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