Item 3a-4. Salem Trust Service Report Summary 2019 - 4QTR
Salem Trust Service Report Summary
CORPORATE HEADQUARTERS: 1715 N WESTSHORE BOULEVARD, SUITE 750 TAMPA, FL 33607 TEL (877) 382-5268 FAX (813) 301-1295
www.salemtrust.com
SALEM TRUST COMPANY IS A DIVISION OF TMI TRUST COMPANY
An Authentic Difference An Authentic Difference®
For the period ending December 31, 2019
Published Date: January 22, 2020
Our Definition of Reliability:
An Authentic Difference® is a promise of transparency. Each quarter, we publish a report of operation
stability and performance for the benefit of every client and industry partner. This Service Report Summary
tracks 5 primary categories essential to core custody services. This summary is condensed from a
comprehensive quarterly performance scorecard containing 17 discrete tasks, also available by request. Based
on data used by our independent auditors and government regulators, we objectively compare how we have
performed in relation to our goals. Our objective is to deliver better service to clients and their service
partners by analyzing how the average performance can be improved.
Downtown Quincy, FL: The
Gasden Art Museum has been
awarded the American Alliance of
Museums (AAM) accreditation,
the highest honor for a U.S.
museum.
Special exhibits upcoming in 2020
include Sharon Hester: Colored
Pencils, the 32nd Art in Gadsden
regional exhibition and Prison Art:
Creativity in an Uncreative Place.
Salem Trust Service Report Summary page 2 Published: January 21, 2020
Client Statement Production:
Tracks when statements are released to our clients.
Trade Settlements:
Measures how many securities are posted by their settlement dates.
Income Posting:
Measures all types of income, including interest, dividends, capital gains and pay downs.
Salem Trust Service Report Summary page 3 Published: January 21, 2020
Cash Processing:
Tracks when wires, ACHs and checks are produced or transmitted.
Corporate Actions:
Measures the completion of stock splits, company reorganizations and stock calls.
Client Service Totals as of December 31, 2019:
Client relationships
Client assets under administration: $9.7 billion
Client relationships: 221
Client service ratio
Full-time Salem Trust client services employees: 8
Average number of client relationships per Salem Trust relationship manager: 55
Benefit payments
Monthly recurring payments made in past 12 months: 101,149
Lump sum payments made in past 12 months: 1,892
Securities movement
Number of security positions held: 29,093 (excluding money market funds)
Number of securities trades processed in past 12 months: 143,149
Salem Trust Service Report Summary page 4 Published: January 21, 2020
Discrete Tasks per Service Category:
Listed below are the individual tasks, with their goals, for each category tracked in the comprehensive
quarterly performance scorecard. The graphs in this Salem Trust Service Report Summary average all discrete
tasks within a category.
Client statement production performance base:
Standard statements released for print within 5 business days: >99%
Employee benefit statements release for print within 10 business days: >95%
Trade settlements performance base:
Money market trades posted on settlement date: >99%
Mutual fund trades posted on settlement date: >95%
DTC and Fed trades posted on settlement date: >95%
Income posting category performance base:
Money market dividends posted within 1 business day of payable date: >99%
Mutual fund dividends and capital gains distributions posted within 3 business days of payable date: >95%
Book-entry DTC dividends posted within 1 business day of payable date: >95%
Book-entry Fed interest posted within 1 business day of payable date: >85%
MBS, CMO & asset-backed principal paydowns posted within 2 business days of payable date: >90%
MBS, CMO & asset-backed interest posted within 2 business days of payable date: >90%
Cash processing category performance base:
Wire transfers transmitted on same business day: >99%
ACH transfers transmitted on same business day: >99%
Checks produced on same business day: >99%
Corporate actions category performance base:
Stock splits & stock dividends posted within 1 business day of ex-date: >95%
Exchanges, spinoffs, mergers & all other reorgs posted within 1 business day after receipt: >95%
Maturities & full calls posted within 1 business day of maturity or call date: >95%
Investment products and services are not bank deposits or obligations of, or guaranteed or endorsed or otherwise
supported by, Salem Trust Company, its parent company or any affiliate, are not federally insured or guaranteed by
the FDIC or any other agency of the United States, and are subject to investment risks, including possible loss of the
principal amount invested.
Investments are:
IN NO EVENT WILL SALEM TRUST COMPANY OR ITS AFFILIATES BE LIABLE FOR ANY DAMAGES, INCLUDING WITHOUT LIMITATION
DIRECT OR INDIRECT, SPECIAL, INCIDENTAL, OR CONSEQUENTIAL DAMAGES, LOSSES OR EXPENSES ARISING IN CONNECTION
WITH THIS PUBLICATION OR USE THEREOF BY ANY PARTY OR IN CONNECTION WITH ANY ERROR OR OMISSION.