4 tips for boosting noninterest income

Description

Abstract: Noninterest income is declining for many banks. There are many reasons for this, including general economic conditions and regulatory changes, such as opt-in requirements for overdraft protection fees and limitations on credit card fees and debit card interchange fees. This article discusses four strategies for increasing noninterest income: improving collection of current fees, getting to know the competition, putting a value on banking relationships, and buying life insurance on the lives of key employees. A sidebar discusses the circumstances in which tax-advantaged bank-owned life insurance (BOLI) benefits are available.