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Article: Small Banks Hang Back from Insurance Entry: A lower percentage of community banks are getting involved; analysts cite marketing and cross-sales expertise.(Brief Article)
- Article from:
- American Banker
- Article date:
- November 15, 2000
- Author:
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Most community banks stayed out of insurance distribution this year, despite their larger competitors' massive participation.
Nearly nine out of 10 banks with more than $10 billion of assets are distributing general lines of insurance products, but the ratio drops to about four of 10 banks with less than $1 billion of assets, according to a study released by the Association of Banks-In-Insurance in Washington. Moreover, community banks have made little progress toward increasing their participation in the market since 1999.
"This is the third year we've looked at this," said Ken Reynolds, executive director of the ABI, which defines any bank with less than $1 billion ...