Citigroup continues to lead the pack in insurance fee income among banks, according to the most recent results from Michael White Associates. The firm logged $1.2 billion in fee income in the first three quarters of 2003, up 18.53% over 2003.
Wells Fargo & Co. came in second with $762 million and a similar increase, 18.14%, over the previous year. BB&T Corp. was a distant third at $434 million, which represented significant growth, 56.43%, over 2003.
The report does not include third-quarter results from MetLife and Greater Bay Bancorp . Through the end of June, MetLife posted $1.59 billion in insurance fee income and had ranked first in 2003. Great Bay Bancorp posted $66.5 million in insurance fee income in the first half of the year and last year ranked ninth.