Despite a slight downturn in the fourth quarter, profits and revenues at larger bank brokerages remained at historically high levels, according to a survey for the Bank Securities Association.

A study of 25 bank and thrift securities programs by Kenneth Kehrer Associates found they earned an average of $934 per $1 million of retail deposits during the quarter, down 9% from the record $1,032 in the previous quarter but up 18% from the year earlier.

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