Bank Owned Life Insurance (BOLI) continues to be a popular investment choice for a variety of banks. As of September 30, 2024, 3,053 banks nationwide reported cash surrender values on their regulatory filings. 80% of banks nationwide with assets between $500 million and $10 billion currently own BOLI.
• $205.7 billion of BOLI cash value now on bank’s financials as of 9/30/24
| Banks with BOLI | Averages for Banks with BOLI* | |||||||
| Asset Size | Total Banks | # | % | Assets ($000) | Capital ($000)** | BOLI CSV ($000) |
% BOLI to Capital |
% BOLI to Assets |
| $50+ Billion | 48 | 38 | 79% | 427,728,816 | 39,208,548 | 3,670,341 | 9.4% | 0.9% |
| $10-50 Billion | 110 | 87 | 79% | 22,244,165 | 2,283,934 | 280,633 | 12.3% | 1.3% |
| $5-10 Billion | 128 | 104 | 81% | 7,109,329 | 746,081 | 99,645 | 13.4% | 1.4% |
| $1-5 Billion | 746 | 624 | 84% | 2,064,044 | 223,627 | 29,356 | 13.2% | 1.4% |
| $750-999 Million | 285 | 224 | 79% | 866,471 | 95,049 | 13,906 | 14.3% | 1.6% |
| $500-749 Million | 491 | 372 | 76% | 610,002 | 67,569 | 9,850 | 14.6% | 1.6% |
| $250-499 Million | 954 | 690 | 72% | 358,363 | 40,946 | 6,142 | 15.0% | 1.7% |
| $100-249 Million | 1,087 | 660 | 61% | 170,076 | 20,357 | 3,086 | 15.2% | 1.8% |
| <$100 Million | 701 | 254 | 36% | 66,111 | 8,634 | 1,499 | 17.4% | 2.3% |
| TOTALS | 4,550 | 3,053 | 67% | |||||
As of 9/30/2024
* Numbers in thousands
** Tier 1 Capital plus Loan Loss Allowance, if applicable.
Source: S&P Global Market Intelligence.