The days of guesstimating how many banks sell mutual funds and how important this line of business is to the banking industry are over.

Just-compiled data from the March call reports show which banks are selling funds, what kind of funds they're selling, and the gross contribution of these sales to the bottom line. In the first quarter of 1994, 2,261 U.S. insured commercial banks, or about one in five, sold mutual funds or annuities to their customers. Of that group, the majority (1,166) sold both mutual funds and annuities, 'while 669 sold just mutual funds and the remaining 426 sold just annuities.

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