Bank holding company securities brokerage income totaled $16.4 billion in the first six months of the year, up 74.5% from a year earlier, according to the Michael White Bank Securities Brokerage Income Report.

Of that increase, 63.3% was contributed by two new bank holding companies — Morgan Stanley and Goldman Sachs Group Inc. Bank of America Corp.'s $3.34 billion increase was largely because of its acquisition of Merrill Lynch. If not for these companies, the industry would have had a decline of 8.2%.

Compiled by Michael White Associates, the report released Wednesday measures and benchmarks banks' and bank holding companies' performance in generating securities brokerage fee income. It is based on data from 7,402 commercial banks and Federal Deposit Insurance Corp.-supervised savings banks and 932 large bank holding companies with over $500 million of assets.

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