Equias Alliance/Michael White Third Quarter 2013 BOLI Holdings Report Results Released

Equias Alliance, LLC announced today the results of the third quarter 2013 Equias Alliance/ Michael White BOLI Holdings Report. The study analyzes BOLI holdings from a number of different perspectives including type of institution, size of institution and type of BOLI asset.

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Since the third quarter of 2012, the number of banks using hybrid separate accounts increased 12.3% from 1,040 to 1,168 banks.” according to David Shoemaker, President of Equias Alliance

Memphis, Tennessee (PRWEB) January 08, 2014

Equias Alliance, LLC announced today the results of the third quarter 2013 Equias Alliance/ Michael White BOLI Holdings Report.

The study analyzes BOLI holdings from a number of different perspectives including type of institution (e.g., national bank, savings banks, commercial banks, etc.), size of institution (e.g., banks under $100 million in assets, banks with $100 – 300 million in assets, etc.), and type of BOLI asset (i.e., general account, hybrid separate account, separate account). The findings are based on a review of FDIC data from 6,891 banks operating on September 30, 2013.

Among other things, the report showed that BOLI assets reached $141.6 billion as of September 30, 2013, reflecting a 3.9% increase from $136.3 billion in the third quarter of 2012. Of the 6,891 banks in the survey, 55.4% now report holding BOLI assets. The number of banks owning BOLI has consistently risen each quarter over the past several years. Although variable separate account plans represent the largest portion of BOLI assets at 49.5%, this plan type is actually used by the fewest number of banks (588 banks). The type of plan most widely held by banks was general account with 93.3% of the banks with BOLI having this type of plan, oftentimes, in addition to other plan types.

When asked which plan type was the fastest growing among banking institutions in 2013 based on sales, David Shoemaker, CPA/PFS, CFP®, President of Equias Alliance, responded “hybrid separate account. Since the third quarter of 2012, the number of banks using hybrid separate accounts increased 12.3% from 1,040 to 1,168 banks.”

To view a summary of all the key findings of The BOLI Holdings Report, please visit the Equias Alliance website at http://www.EquiasAlliance.com.

BOLI has become an important component of a bank’s investment portfolio. Banks in the U.S. use BOLI to help fund their employee benefit plans, increase earnings and shareholder value as well as recruit, retain and reward key officers and directors.

About Equias Alliance/Michael White Associates

Equias Alliance, LLC (“Equias”), through its group of nationwide consultants, has assisted over 800 community banks in the design and implementation of bank-owned life insurance (“BOLI”) as well as nonqualified benefit plans for selected executives. Equias has the experienced and professional staff (including attorneys and CPAs) needed to properly administer and oversee these plans. As evidence of its leadership position in the market, Equias has the exclusive endorsement of the ABA (through its subsidiary, the Corporation for American Banking) and 10 state banking associations for BOLI. Equias is headquartered in Memphis, Tennessee with 13 regional offices throughout the U.S. and can be contacted at http://www.EquiasAlliance.com.

Michael White Associates (“MWA”) is a bank insurance consulting firm headquartered in Radnor, PA, and can be contacted at http://www.BankInsurance.com. The Equias Alliance/Michael White BOLI Holdings Report™ is one of several MWA reports dealing with bank fee income activities as well as BOLI. Another, the MWA BOLI Capital Concentration Report™, meets the regulatory requirement that each banking company must conduct a peer analysis of its BOLI holdings relative to capital and statistically assess whether its BOLI program is an outlier. Additionally, MWA Fee Income Ratings Reports™ compare, rank and rate a particular financial institution’s insurance or other noninterest fee income program nationally, regionally, statewide and by asset-peer group.

Securities offered through ProEquities, Inc., a Registered Broker/Dealer and member FINRA & SIPC. Equias Alliance, LLC is independent of ProEquities, Inc. Michael White is not a Registered Representative of ProEquites, Inc. nor a Representative of Equias Alliance, LLC.


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