Insurance brokerage fee income for bank holding companies increased 3.2 percent in the first quarter at $3.21 billion up from $3.11 billion for the same period in 2007, according to a new study.

The results set a quarterly record, according to the Michael White-Symetra Bank Holding Company Fee Income Report.

The report, compiled by Michael White Associates, a Radnor, Pa.-based consulting firm, and sponsored by Bellevue, Wash.-based Symetra Financial investment company, measures and benchmarks bank holding companies' performance in generating insurance, retail investment, annuity and mutual fund fee income.

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