Statistics, Facts & Such
Sheshunoff Information Services surveyed 560 commercial banks in 1992. They found that 59% of those institutions with between $100 million and $300 million in assets had trust departments. 31% of those between $50 million and $100 million had them.
The cost of handling a check deposited with a teller is 75 cents. That same check received as an automated clearinghouse item costs 5.5 cents to handle.
The U.S. Department of Commerce estimates that businesses lose, annually, about $4 billion through illegal, unauthorized use of telephone services-known as PBX fraud. The average loss per occurrence is about $90,000.
A financial institution can lose $1 million over a weekend in a phone fraud, according to Barry Berman, president of US Tele-Comm.
Three states have enacted ATM safety legislation-California, Nevada and Georgia.
The 1990 U.S. Census determined there are now 248,710,000 people in the United States, and that 43,000,000 (43 million), or over 17%, suffer from one or more physical or mental disabilities.
Large companies employ almost half of the work force, but create less than one in every 10 new jobs. Small companies (those with fewer than 100 workers) employ about a third of the work force, but are responsible for 81% of all the new jobs.
FDICIA generated the need for approximately 60 task forces among the banking regulatory agencies to deal with the additional legislation.
In 1991, 309 million dollars were invested in financial sector mutual funds. In 1993 that figure increased to 1.9 billion dollars. A 600% increase!
Copyright © 1993 Bankers' Hotline. Originally appeared in Bankers' Hotline, Vol. 3, No. 12, 5/93
First published on 05/01/1993