The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
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Federal Reserve Bank of St. Louis
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Federal Reserve Bank of St. Louis
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Federal Reserve Bank of St. Louis
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LISTS AND SUPPORTING MATERIAL
TABLES PUBLISHED IN THE ANNUAL REPORT OF THE FDIC FOR 1937
PREPARED UNDER THE DIRECTION OF CLARK v:ARBURTON
CONTENTS
1. itergers of insolvent banks
a.
b.
c.
d.
e.
4.
Banking practices
a.
b.
•
Text
Unpublished table: Applications for loans to facilitate mergers
of insolvent banks acted upon by the FDIC during 1937
List: Applications for loans to facilitate mergers of insolvent
banks acted upon by the FDIC during 1937
Unpublished table: Condition of insured banks which were absorbed,
succeeded or went into voluntary liquidation
- re absorbed, succeeded
List: Condition of insured bc...1c;7: which
or vent into voluntary liquidation
c.
Tables 3 and 4 and text
List to support Table 3: aisposition of cases of insured banks
cited to supervisory authorities
Table 4 as originally prepared: Practices and violations for TI-ich
insured banks were cited to supervisory ithorities - with
identifying numbers
Other actions of the Corporation
Tables 5-7 and text
List to support Table 5: Applications for admission to insurance
acted upon by the FDIC during 1937
c. Table 6 as originally prepared: Applications to establish or relocate branches acted upon by the FDIC durinL 1937
d. List to support Table 6 as originally prepared:
e. Supplementary table: Size of centers in which the establishment
of additional banking offices was approved by the Corporation
Table 7 as originally prepared. (Note: List to support this table
not prepared, tabulations being made directly from tables submitted by Mr. Ross and from Form 5-28)
g. Text as originally written: Assumption of uninsured deposits; asset
transfers, reserve funds, and bank earnings
h. List to support text as originally written: Assumption of uninsured
deposits
i. List to support text as originally written: Asset transfers, reserve funds and bank earninvs
a.
b.
•
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1.
Number of operating banks and branches
Table 12-14 and text; explanatory note regarding classification of
banks and banking offices; Tables 101-103
Supplementary table: Banks admitted to insurance during 1937
9.
c. List to support Table 14 (section on admissions) and sup-lementary
table: Banks admitted to insurance during 1937
da-g4t/Z3'4
d. Lists to supoalrt Table 102 -- filed in binder entitled "BankA Changes 0.37"
a.
1.
ii.
iii.
•
e.
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Federal Reserve Bank of St. Louis
Changes among banks by type
Changes among branches by type
Changes among branches and banks by States
List to support Table 103 -- see binder entitled "List of operating
banks, December 31, 1937
2
5.
Assets and liabilities of operating banks
a.
b.
Table 115 and 116
List to support Table 115: Banks not included in summary of
assets and liabilities
6. Bank suspensions
a.
b.
Tables 146, 147 and 149
List to support Table 146:
Banks suspended
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Federal Reserve Bank of St. Louis
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tileArofty
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1.
Mer,.ers of insolvent banks
a.
b.
c.
d.
S.
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Federal Reserve Bank of St. Louis
e.
Text
Unpublished table: Applications for loans to facilitate
mergers of insolvent banks acted upon by the FDIC during 1937
List: Applic:Aions for loans to facilitate mergers of
insolvent banks acted upon by the FLIC during 1937
Unpublished table: Condition of insured banks which were
absorbed, succeeded or went into voluntary liquidation
List: Condition of insured banks which were absorbed,
succeeded or went into voluntary liquidation
cpvt
OPERATIONS AND POLICIES OF THE CORPORATION
On December 31, 1937, the Federal Deposit Insurance Corporation
was insuring deposits of 13,853 banks. These banks held total
deposits of about $48 billion, of which more than $21 billion were
estimated to have been protected by insurance. Depositors numbered more than 50 million, of whom 98 percent were fully protected.
During the year the Corporation's activities continued to center
upon its three major functions: (1) payment of insured deposits
in suspended insured banks; (2) liquidation of insured banks placed
in receivership; and (3) maintenance of a sound banking structure.
The Corporation's activities and policies are discussed in this part
of the report.
INSOLVENT INSURED BANKS CLOSED
In 1937, as in preceding years, the banking system was strengthened
by the elimination of a considerable number of insolvent or weak
banks. Fifty-three insolvent insured banks, with deposits of $19
million, suspended operations. Twenty-five insolvent banks, with
deposits of $18 million, were absorbed by other insured banks with
the aid of loans from the Federal Deposit Insurance Corporation.
About 75 insured banks not members of the Federal Reserve System
which were in a weakened condition, with deposits of approximately
$28 million, were strengthened and merged with other insured banks
without financial aid from the Corporation or went into voluntary
liquidation. Practically all of these banks had been in financial
difficulties in earlier years.
Since its inception the Federal Deposit Insurance Corporation
has paid depositors in or made loans to 178 insolvent banks. Total
deposits of these banks amounted to $76 million, of which 94 percent
were estimated to have been protected against loss. Of the 277,236
depositors in these banks, 276,609, or 99.8 percent, were fully protected against any loss.
Insolvent banks suspended. During 1937, 53 insolvent insured
banks suspended of which 49 were placed in receivership during 1937
and payments to insured depositors were made by the Corporation.
One bank which suspended on the last day of the year was not placed
in receivership until 1938. The other three banks were rehabilitated
and either reopened or absorbed by operating insured banks. The
Corporation also paid insured claims of depositors in one bank which
went into voluntary liquidation without having made adequate
provision for the payment of its depositors. The name, location,
and amount of assets and liabilities of each bank are given in Tables
149 to 152, pages 170 to 177.
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Federal Reserve Bank of St. Louis
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I
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FEDERAL DEPOSIT INSURANCE CORPORATION
The deposits of the 50 banks placed in receivership or liquidation
I uring the year amounted to approximately $15 million. Depositors
in the banks numbered 73,507 of whom 73,320, or 99.7 percent, were
fully prothcted by insurance, security, preferment, or offset. Of the
deposits, 96 percent were protected by offset, preferment, pledge of
security, or insurance, and 4 percent were represented only by general
claims against the assets of the banks.
•
From the beginning of deposit insurance to December 31, 1937,
the Corporation paid off depositors in 125 banks: 9 in 1934 24 in
1935 42 in 1936 and 50 in 1937. Total deposits in these banks
amounted to $37 mon,of which $32 million, or .I'
were
fully protecthd by insurance, offset, preferment, or pledge of security.
All but one-half of 1 percent of the 162,354 depositors were protected
in full. The proportion of deposits so protected has in general been
higher in each successive year, averaging 78 percent in 1935, 84 percent in 1936, and 96 percent in 1937.
Deposits paid by the Corporation. Insured deposits have been
paid as rapidly as depositors have presented and proved their claims.
By the close of the year the Corporation had paid $11 million, or
95 percent, of the insured deposits in the banks placed in receivership
or liquidation during the year. The unpaid insured deposits consisted of the accounts of depositors who had failed to file claims or
who had not established proof of their claims. More than one-half
of the insured deposits remaining unpaid were in 16 banks which
closed during the last quarter of the year.
•
Further payments amounting to $858,000 were made during the
year to depositors of insured banks placed in receivership during 1934,
1935, and 1936. In these banks only 2 percent of the total insured
deposits were unpaid at the close of 1937. In many instances the
unpaid deposits were small and the Corporation was unable to locate
the depositors. The figures regarding deposits of insured banks
placed in receivership are given in Table 1.
Insolvent banks absorbed with aid of loans or purchase of
assets by the Federal Deposit Insurance Corporation. Until
July 1, 1938, the Corporation is authorized to make loans secured
by the assets of insured banks or to purchase the assets of such banks
provided: first, the action will reduce the risk or avert a threatened
loss to the Corporation; and second, it will facilitate the absorption
of an insolvent or weak bank by another insured I.
These
II.rs enable the Corporation to eliminate insolvent banks with
the minimum loss to itself and with the least disturbance to the
communities in which they are located.
During 1937 the Corporation received numerous preliminary and
informal applications for loans to facilitate mergers of insolvent or
weak banks. The majority of these applications were rejected after
investigation because it was not evident that loss to the Corporation
would be reduced or that a merger could be effectuated under satis
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Federal Reserve Bank of St. Louis
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1
INSOLVENT INSURED BANKS CLOSED
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factory conditions. A number of banks whose informal applications
were refused subsequently failed. The informal applications which
were not refused were in most cases followed by formal applications
and during the year the Corporation took action in the case of 34
formal applications for loans to facilitate the assumption of deposit
liabilities of insolvent banks by other banks. Of these cases, 24 applications were approved and the loans disbursed during the year, 8
were approved but the loans not disbursed by the close of the year,
1 was disapproved, and 1 was first approved but the approval
rescinded when the bank failed to meet the conditions required. In
1937 the Corporation disbursed one loan which had been approved
in 1936.
Table 1. DEPOSITS OF INSURED BANKS PLACED IN RECEIVERSHIP
AS OF DECEMBER 31, 1937
(Amounts in thousands of dollars)
Total
Total-50 banks placed in receivership, 1937
Insured,
Secured, preferred, and subject to offset,
Uninsured, unsecured, not preferred, and not subject to
offset
•
Total--75 banks placed in receivership, 1934-1936
Insured,
Secured, preferred, and subject to offset.
Uninsured, unsecured, not preferred, and not subject to
offset
Paid by
Dec. 31,
19371
Unpaid on
Dec. 31,
1937
14,508
12,622
1,886
11,983
1,929
11,336
1,233
647
696
596
53
543
22,197
19,830
2,367
15,134
3,063
14,808
2,939
326
124
4,000
2,083
1,917
iincludes payments made both by the Federal Deposit Insurance Corporation and by receivers.
,
Includes all deposits to be paid by the Federal Deposit Insurance Corporation.
,Includes all deposits subject to offset and those portions of secured deposits to be met by sale of
security and of preferred deposits to be paid by the receiver.
NOTE: More detailed figures will be found in Tables 152-53, pages 176-79.
Of the 25 banks to which financial aid was given by the Corporation,
20 were absorbed by operating insured banks and 5 by new banks
with new managements organized in the same communities. The
names of the merging and successor banks are given in Table 154 on
page 180.
Deposits in the 25 banks totaled $18 million. Depositors numbered
56,300, all of whom were afforded full protection by the consolidation
FIi
agreements.
Loans amounting to approximately $7 million were
made to the 25 banks. In addition, assets amounting to approximately one-fourth million dollars were purchased from four of these banks.
•
Between August 23, 1935, the date of authorization of these loan
•
• numbering
with accounts
powers, and December 31, 1937, 53 banks,
114,882 and total deposits amounting to $39 million, were absorbed
by other operating or new insured banks with the aid of the Corporation. In 36 cases loans were made, in 1 case assets were purchased,
and in 16 cases loans were made and assets also purchased. The
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Federal Reserve Bank of St. Louis
12
FEDERAL DEPOSIT INSURANCE CORPORATION
total amount of the loans and purchases in the 53 banks was $16.7
million, of which $15.4 million were in the form of loans, and $1.3
million in the form of purchase of assets.
•
Other mergers and liquidations of banks in a weakened
position. In addition to insolvent banks merged with the financial
aid of the Federal Deposit Insurance Corporation, a number of banks
which were in financial difficulties, or which had had low earnings
and for which prospects of profitable operations were poor, were
merged with other banks. About 75 such banks not members of the
Federal Reserve System were absorbed or succeeded by other banks
or went into voluntary liquidation during the year. Corresponding
information is not available for banks members of the Federal Reserve
System which were merged without the financial aid of this Corporation or were succeeded by other member banks or were placed in
voluntary liquidation.
REPAYMENTS TO THE CORPORATION
From January 1, 1934, to December 31, 1937, the Corporation
advanced $43 million to make funds available immediately to depositors of insolvent banks. By the end of 1937, $15 million of this
amount had been repaid to the Corporation, two-thirds from receiverships of suspended banks and one-third from collections on
loans. The Corporation has collected from each source about onehalf of the amounts which it expects ultimately to recover.
Recoveries from banks in receivership. By December 31, 1937,
the Corporation had recovered approximately $10 million, or 39 percent, on the $26 million of depositors' claims to which the Corporation
was subrogated in the 125 insured banks in receivership. It is estimated that total recoveries by the Corporation will amount to about
75 percent of insured deposits.
Of the 75 insured banks placed in receivership during 1934, 1935,
and 1936, 12 had by the close of 1937 paid dividends of 100 percent
and 39 had paid dividends of 50 percent or more to creditors. No
payments had been made by 11 banks. Relatively small payments
were received from banks placed in receivership during 1937 because
of the short period of time in which the banks had been in liquidation.
In most cases the Corporation expects to receive substantial additional
returns. More detailed figures are shown in Table 2.
The Corporation, as principal creditor through its subrogation to
depositors' claims, maintains close contact with the receivers of all
suspended insured banks and assists in every way possible in prompt
and efficient liquidation of these banks. At the close of the year the
Corporation was acting as receiver or liquidating agent for 34 banks.
Of these, 9 were national and 25 were State banks. The Corporation
was appointed receiver for insured State banks in the following seven
States: Louisiana, Mississippi, North Dakota, Ohio, Oklahoma,
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Federal Reserve Bank of St. Louis
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838
206
1,983
1,879
444
276
23
337
433
184
118
92
449
890
122
148,564
49,753
794,231
468,536
96,304
146,374
49,557
782,445
460,410
66,387
2,190
196
11,786
8,126
29,917
2,702
4,198
521
18,973
5,531
2,218
3,219
327
18,929
6,631
128
420
107
44
356
559
87
1,488,889
1,063,820
68,119
1,233,053
321,103
1,460,431
995,375
66,358
1,233,053
321,103
28,468
68,446
1,761
Burt State Bank, Burt, North Dakota
Ringgold State Bank, Ringgold, Texas
Roanoke State Bank, Roanoke, Illinois
Farmers State Bank of Carlisle, Carlisle, Minnesota
The Nescopeck National Bank, Nescopeck, Pennsylvania
194
321
707
295
1,734
149
231
539
195
816
38
60
73
36
33
7
40
95
64
885
32,728
47,314
244,263
67,804
302,339
32,723
42,087
230,497
54,563
183,554
6
5,227
13,766
13,241
118,785
116
117
118
119
120
Farmers State Bank, Wyndmere, North Dakota
Farmers & Merchants Bank of Elgin, Elgin, North Dakota
First State Bank, Barbourville, Kentucky
Carter County Commercial Bank, Olive Hill, Kentucky
Bank of Swifton, Swifton, Arkansas
397
280
1,967
659
590
294
237
1,155
327
431
50
12
519
88
59
53
31
293
144
100
69,685
34,178
325,101
97,952
105,795
68,601
32,671
298,309
93,881
73,790
1,084
1,507
26,792
4,071
32,005
121
122
123
124
126
First State Bank, Center, North Dakota.
Bank of Alba, Alba, Missouri
Commercial Bank & Trust Co., Union City, Indiana
Nevada Trust Company, Nevada, Missouri
Big Falls State Bank. Big Falls, Wisconsin
347
666
1,782
1,022
253
240
435
1,464
670
67
31
163
269
93
1
76
68
49
259
195 1
I
43,241
72,198
609,985
138,513
80,836
41,541
62,591
580,445
102,704
21,740
1,700
9,607
29,540
35,809
59,096
Farmers & Merchants Bank, Newbern, Tennessee
Peoples Bank of Bloxom, Inc., Bloxom, Virginia
The Taylor National Bank of Campbellsville, Kentucky
First Bank & Trust Company of Hamilton, Hamilton, Mo. .
The Bank of Noel, Noel, Missouri
106
107
108
109
110
The Fort Greene National Bank in N. Y., Brooklyn, N. Y.
Farmers Bank & Trust Co., Charles Town, West Virginia
The Bank of Galena, Galena, Missouri
Perth Amboy Trust Company, Perth Amboy, New Jersey
The Raritan Trust Company, Perth Amboy, New Jersey
111
112
113
114
115
'Includes all deposits to be paid by FDIC.
'Includes all depositors whose claims have been fully paid by counterclaim, by sale of security, or directly by the receiver because of preferred status.
Back figures-See the following Annual Reports: 1936, p. 200; 1935, p. 229.
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Federal Reserve Bank of St. Louis
SUSPENSIONS, RECEIVERSHIPS AND MERGERS
1,232
321
2,769
3,202
760
101
102
103
104
105
Table 154.
LOANS MADE TO AND ASSETS PURCHASED FROM INSURED BANKS BY THE FEDERAL DEPOSIT INSURANCE CORPORATION
AUGUST
Name and location
Class
of
bank,
TO DECEMBER
31, 1937
Disbursement
Total
deposits
Successor bank
Date
12,324
46,258
56,300
4,356,778
16,698,882
18,294,152
C
792
154,245
A
217
Amount
$16,703,992
114,882 $39,349,812
Total, 1935 (1 bank)
Total, 1936 (27 banks)
Total, 1937 (25 banks)
2,862,650
6,730,830
7,110,512
1937
Sargent County Bank
Forman, North Dakota
The First National Bank of Ismay
Ismay, Montana
Robbins Bank & Trust Company
Robbins, Tennessee
Farmers & Merchants Trust Bank
Cape Charles, Virginia
The Farmers National Bank of Grayville
Grayville, Illinois
Carroll Exchange Bank
Carrollton, Missouri
The First National Bank of Mahanoy City
Mahanoy City, Pennsylvania
The First National Bank of Pukwana
Pukwana, South Dakota
American Bank
Higginsville, Missouri
Bank of Anutt
Anutt, Missouri
Michigan City Trust & Savings Bank
Michigan City, Indiana
Kochan Banking Co.
Maysville, Missouri
The First National Bank of Albertville
Albertville, Alabama
•
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Federal Reserve Bank of St. Louis
00
January 16, 1937
22,367
83,281
February 20, 1937
27,026
C
265
28,979
April 15, 1937
9,432
C
2,600
843,728
May 22, 1937
487,097
A
1,186
257,686
May 28, 1937
81,987
C
2,227
786,733
June 1, 1937
267,651
A
4,162
2,059,933
June 7, 1937
1,332,407
A
1,104
126,626
June 17, 1937
C
1,129
205,676
July 6, 1937
C
143
32,642
July 13, 1937
14,600
C
2,779
983,307
July 21, 1937
245,770
C
963
172,634
August 6, 1937
• A
2,437
427,993
August 12, 1937
•
23,465
126,568
34,117
142,623
Havana State Bank
Havana, North Dakota
The Bank of Baker
Baker, Montana
The First National Bank of Oneida
Oneida, Tennessee
Northampton County Trust Bank'
Cape Charles, Virginia
The Peoples National Bank of Grayville,
Grayville, Illinois
Carroll County Trust Company
Carrollton, Missouri
The Union National Bank of Mahanoy City
Mahanoy City, Pennsylvania
Northwest Security National Bank of
Sioux Falls, S. D.(Chamberlain Branch)
Bank of Higginsville
Higginsville, Missouri
Bank of Salem
Salem, Missouri
The First National Bank of Michigan City
Michigan City, Indiana
The Farmers Bank of Weatherby
Weatherby, Missouri
Tennessee Valley Bank
Decatur, Alabama (Albertville Branch)
FEDERAL DEPOSIT INSURANCE CORPORATION
Total, 1935-1937 (53 banks)
Number
of
accounts
23, 1935,
•
•
Farmers and Merchants Bank
Brillion, Wisconsin
Stoneham Trust Company
Stoneham, Massachusetts
The First National Bank in Burlington
Burlington, Iowa
First State Bank of Cobden
Cobden, Illinois
Loganville State Bank
Loganville, Wisconsin
Peoples United Bank
Southport, North Carolina
First National Bank and Trust Company of
Manhasset, New York
766
159,026
August 23, 1937
4,392
808,744
September 13, 1937
2,818
647,721
October 1, 1937
96,943
A
457
77,727
October 2, 1937
43,829
A
10,350
3,660,339
October 4, 1937
2,487,278
1,406
521,965
October 19, 1937
295,512
A
3,216
743,641
October 22, 1937
293,597
A
5,648
3,593,953
November 9, 1937
214,360
A
16,245
265,560
287
52,287
November 24, 1937
22,200
1,060
488,976
November 29, 1937
230,426
664
161,972
December 3, 1937
35,080
5,232
1,214,338
December 20, 1937
294,372
Calumet County Bank
Brillion, Wisconsin
Middlesex County National Bank of Everett
Everett, Mass. (Stoneham Branch)
Peoples Trust Company of Bergen County
Hackensack, New Jersey
The State National Bank of Lovelady
Lovelady, Texas
First Bank and Trust Company,
Perth Amboy, New Jersey
First National Bank of Mundelein,
Mundelein, Illinois
The City National Bank and Trust Company of
Hackensack, New Jersey
National Bank of Burlington,
Burlington, Iowa
The First National Bank of Cobden
Cobden, Illinois
Farmers and Merchants Bank
Reedsburg, Wisconsin
Waccamaw Bank & Trust Company
Whiteville, N. C. (Southport Branch)
Port Washington National Bank & Trust Co.
Port Washington, New York
'A—National bank member of the Federal Reserve System; B—State bank member of the Federal Reserve System; C—Bank not member of the Federal Reserve Systam.
,Newly organized bank.
Back figurea—See Annual Report for 1936, p. 202.
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Federal Reserve Bank of St. Louis
SUSPENSIONS, RECEIVERSHIPS AND MERGERS
Westwood Trust Company
Westwood, New Jersey .
The First National Bank of Lovelady
Lovelady, Texas
The First National Bank of Perth Amboy
Perth Amboy, New Jersey
State Bank of Mundelein
Mundelein, Illinois
The Little Ferry National Bank
Little Ferry, New Jersey
•
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•
Table 2. APPLICATION FOR LOANS TO FACEJITATE MERGERS OF INSOLVENT BANKS
ACTED UPON BY THE FEDERAL DEPOSIT INSUaANCE CORPORATION DURIAG 1967
Character of action by Federal
Depot_Insurance Corporation
Total
Total number of cases acted upon 1/
Loans approved and disbursed
Loans approved, but no disbursed by
December 51, 1937 -g/
Loans approved, and a2proval rescinded
Applications received and declined
1/
24
1
Two cases in which arrangements for loans were made during
1937, but final action thereon had not been taken by the
close of the year, are not incllded.
2,/ In one of these cases the applicant ban,r, suspended during
1937.
101E:
More detailed figures regarding loans disbursed and purchases made will be found in Table
, pages ...
Identifyjag, numbers:
Loans approved and disbursed: 21, 53, 36, 46, 4o-56, 60, 62, 63, 65-72
Loans approved but not disbursed by December 31, 1937: 471.57, 59, 61,
64, 74-76
Loan approved and approval rescinded: 45
Loan declined: 58
Footnote 1: 73,77
Footnote 2: 61
•
•
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Federal Reserve Bank of St. Louis
•
LIST TO SUPPORT La=2
APPLICATIONS FOR LOANS TO FACILITATE MERGERS OF INSOLVENT BANKS ACTED
UPON BY Trit FEDERAL DEPOSIT INSURANCE CORPORATION DURING 1937
Aker
bank changes
list
Location
Name
Date!'
Number
approval
record
LOANS APPROVED AND DISBURSED (24)
Banks merged with existiy banks (19)
Alabama: Albertville
The First National Bank of
Absorbed by the Tennessee Valley Bank, Decatur
Cobden
First State Bank of
Absorbed by The First National Bank of
•
•
8-12-37
9-12-37
63
11-24-37
68
11-24-37
Indiana: Michigan City
Michigan City Trust & Savings
Absorbed by the First National Bank of
Bank
7-21-37
7-20-37
50
Massachusetts: Stoneham
Stoneham Trust Company
Absorbed by the Middlesex County National Bank of
Everett
9-13-37
62
9-11-37
Missouri: Anutt
Bank of
Absorbed by the Bank of Salem, Salem
71237
7-14-37
56
Carroll Exchange Bank
Missouri: Carrollton
Absorbed by the Carroll County Trust Company
6-1-37
Missouri: Higginsville
American Bank
Absorbed by the Bank of Higginsville
7-6-37
7-3-37
49
Missouri: Maysville
Kbchan Banking Co.
Absorbed by The Farmers Bank of Maysville
8-6-37
55
The First National Bank of
Montana: Ismay
Absorbed by The Bank of Baker
2-20-37
2-20-37
33
New Jersey: Little Ferry
The Little Ferry National Bank
Absorbed by The City National Bank & Tr Co, Hackensack
10-22-37
10-22-37
66
54
5-29-37
8-5-37
New Jersey: Westwood
10-1-37
Westwood Trust Company
Absorbed by the Peoples Trust Company of Bergen County, 9-30-37
Hackensack
46
New York: Manhasset
First National Bank and Trust
Company
Absorbed by The Port Washington National
Bank and Trust Company, Port Washington
21
North Carolina: Southport Peoples United Bank
Absorbed by the Waccamaw Bank 8:Trust Company,
Whit eville
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Federal Reserve Bank of St. Louis
12-20-37
12-20-37
12-3-37
12-2-37
70
-2
S
Number
bailkhang,es
Location
Name
Dat
eji
.
Number
approval
record
Banks il]aed with existine banks - continued
Pennsylvania: Mahanoy City The First National Bank of
Absorbed by The Union National Bank of
6-7-37
6-5-37
36
South Dakota: Pukwana
The First National Bank of
Absorbed by the Northwest Security National Bank of
Sioux Falls
6-17-37
6-16-37
51
Tennessee: Robbins
Robbins Bank & Trust Company
Absorbed by The First National Bank of Oneida
4-15-37
4-14-37
48
Texas: Loveledy
The First National Bank of
Absorbed by The State National Bank of
10-2-37
10-1-37
65
Farmers and Merchants Bank
Wisconsin: Brillion
Absorbed by the Calumet County Bank
8-23-37
60
8-21-37
Logenville State hank
Wisconsin: Loganville
Absorbed by the Farmers and Merchants Bank, Feedsburg
11-29-37
11-27-37
71
5-28-37
53
Banks merged with newly RmillFed successor banks (4)
Illinois: Grayville
The Farmers National Bank of
Succeeded by The Peoples National Bank of
5-27-37
Illinois: Mundelein
State Bank of
Succeeded by the First National Bank of
10-19-37
10-18-37
69
New Jersey: Perth Amboy
The First National Bank of
Succeeded by the First Bank and Trust Company
10-4-37
10-2-37
67
Virginia: Cape Charles
Farmers &Merchants Trust Bank
Succeeded by the Northampton County Trust Bank, Cape
Charles
5-22-37
5-21-37
52
Bank 1.3u.aended and later me.rEpd with newly organized successor bank (1)
LOWE: Burlington
The First National Bank in./
Succeeded by the National Bank of
•
11-9-37
11-6-37
1/ First date is date of disbursement of loan, second the date of the
absorption or succession;
2/ Suspended 10-20-37.
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Federal Reserve Bank of St. Louis
72
- 3-
S
Number
teliwhanges
Name
Location
LOANS APPROVED BUT NOT DISBURSED BY DECEMPER 31,
Date
Number
approval
record
1937 (8)
Georgia:
Eton
Bank of
8-18-37
64
Indiana:
South Bend
St. Joseph County Savings Bank
7-9-3?
59
Maryland: Takoma Park
Takoma Park Bank
12-22-37
75
Missouri: Bakersfield
Bakersfield State Bank
9-25-37
57
New York: Brooklyn
The Fort Greene National Bank in 8-5-37
61
North Carolina: Fremont
The Bank of
12-22-37
74
Penns:ilvania: Prospect
Prospect Park State Bank
3-13-37
47
Wisconsin: Woodman
The Woodman State Bank
12-22-37
76
•
LOAN APPROVED AND APPROVAL RE6CINDE1) (1)
Illinois: West Point
State Bank of
1-9-37 AP9-20-37 Re. 45
APPLICATION FOR LOAN DECLIEED (1)
Missouri:
Lathrop
The First State Bank of
6-29-37
58
FOOTNOTE 1 - ARRANGEMENTS FOR LOANS MADE BUT FINAL ACTION NOT TAKEN
DURING 1937 (2)
•
New Jersey: Camden
The American National Bank of
11-26-371/
73
Virginia:
Bank of Northampton, Inc.
12-31-371/
77
Nassewadox
FOOTNOTE 2 - APPLICANT BANK SUSPENDFX (1)
New York:
Brooklyn
The Fort Greene National Bank in 8-14-37
•
1/ Date committee recommended loan.
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Federal Reserve Bank of St. Louis
61
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
IASOLVRMT BASKi)
Other !workers
in a ,weikkeneAcon4ltioi.
cLasrp
liuldatioA6
Inso1vf4t
In addition to insolvent banks zit„rged with the
aid of loans frost the Federal Deosit Insurance Cororatioa, a LArge nua—
ber of banka which mere in financial difficulties, which had had low
e.,rnings an
for tvhich i)rospects of ,Tofitabi.e c:yerLtions were poor, were
merged with other banks. In fact, ai)lroxia,tely hhir of all inAured
ban's' meretd during the year were bangs ahich wore not in good condition.
In The 14i, the insurec banks not aembers ar the Federal
Reserve 6ystent which were merged, succeeded or placed in voluntary
liquidation during LW, and banks members of the federal Reserve System
whizh rime absorbed by insured banks not menbers of that system, are
classified act:ording to their condition as rt4lorted by bank examiners.
Siailbr information regArding the condition of 85 bacvs members of the
Federal reserve system which were absorbed or succeeded by banks also
meubers of that oaten, or v:ere ,.-aaced in voluntary liquidation is not
available.
Table 1-A CONDITION OF INSURED BANKS MUCH
ABSORBED, SUCCE.ELED Oh id,NT IAT3 VOLUNTitRY L.L.„UILTIDN
LURING l570
Number of Banks
..Be Wot
members Feceerz--1
Reserve System
Condition
mbers
Federal Reserve
System absorbed
or succeeded by
banks not memberi
of th. t system
Total
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Insolvent or in very bac financial
condition
Approaching insolvency or in condition which will leA to insolvency
if not corrected
15
51
1
_
dolding undue _..mounts of subst nc-rd
assets or eng_Iging in unsound banking practices
14
2
Not in financial difficulties at the
pres nt time, but uneconomic bnd
with no future
17
3
Absorbed or liquidated for reasons other
than condition of banks or future pros—
pects
54
15
Information not available
1
,
LIST TO SUPPORT TABLE 1-A
COAiDITION OF INSar,ED BANKS WHICh VIERE ABSORBED, SUCCEEDED
OR WENT INTO VOLUNTARY LIQUIDATION DURING 1937
Location
Number
approval
record
Name
INSOLVENT OR IN VERY BAD FINANCIAL CONDITION (14)
Banks not members of Federal Reserve L51.stem (15)
Farmers & Merchants Bank
Kentucky: Edmonton
by
Absorbed
Edmonton State Bank, Edmonton (nonmember) 10-2-37
Farmers Deposit Bank
Kentucky: Perryville
Absorbed by The Old Beim, Perryville (nonmember) 11-2-37
Athens State Bank
Michigan: Athens
Absorbed by The First State Bank of le=on, Mendon (nonmember)
1-20-37
Bank of Haberg
Missouri: Haberg
Absorbed by The First National Bank of
(national) 11-13-57
•
Vernon, Mt. Vernon
Sun River Valley State Bank
Montana: Simms
Absorbed by Montana Bank & Trust Co., Great Fails (member FRS)
2-27-37
New Jersey: West New York The Trust Company of New Jersey in
Absorbed by The Trust Company of New Jersey, Jersey City
(nonmember) 1-12-37
Fayetteville Commercial Bank
New York: Fayetteville
Absorbed by First Trust & Deposit :.;ompany, Syracuse (member)
6-19-37
•
The Farmers & Merchants State Bank
North Dakota: Fordville
Absorbed by Walsh County State Bank, Grafton (nonmember) 5-1-67
Bank of Charlotte
Tennessee: Charlotte
Placed in voluntary liquidation 12-31-37
Farmers & Merchants Bank
Tennessee: Ethridge
Absorbed by The First National Bank of Lawrenceburg, Lawrenceburg (national) 2-9-37
Smyrna Bank & Trust Comphny
Tennessee: Smyrna
Absorbed by The First National Bank of Smyrna, S'qyrna (national)
3-2-57
Jasper State Bank
Texas: Jasper
Succeeded by The First State Banlc, Jasper (nonmember) 11-1-37
The Normanna Savings Bank
Wisconsin: Barron
Absorbed by Bank of Barron, Barron (nonmember) 1-16-57
•
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Federal Reserve Bank of St. Louis
S
un
b
/
changes
list
2
Location
Name
INSOLVENT OR IN VERY BAD FINANCIAL CONDITION (14)
Bankg memberiz. sT Federal Feserve System, absorbed 2.r. succeeded
12y. banks not members of that system (1)
The First National Bank of Buxton
North Dakota: Buxton
Absorbed by First State Bank of Buxton, Buxton (nonmember) 9-27-57
APPROACHING INSOLVENCY OR IN CONDITION WHICH VILL LEAD TO
INSOLVENCY IF NOT CORRECTED (31)
Syptaa (31)
Banks not membAKE of Federal Reserve )
First Bank of Highland
California: Highland
Absorbed by Bank of America N.T. & S.A., San Francisco
(naticnal) 12-4-57
Ordway State Bank
Colorado: Ordway
Placed in voluntary liquidation 6-4-37
•
=In State Bank of Shumway
Illinois: Shumway
liquidation
voluntary
Placed in
Buck Creek Bank
Indiana: Buck Creek
Placed in voluntary liquidation 8-20-37
The Peoples State Bank
Indiana: Michigan City
Placed in voluntary liquidation 1-15-37
The Farmers State Bank
Kansas: Jennings
Absorbed by The State Bank of Jennings, Jennings (nonmember)
8-5-37
•
•
The Lafontaine State Bank
Kansas: Lafontaine
Placed in voluntary liquidation 7-29-37
The Meade State Bank
Kansas: Meade
Absorbed by The First National Bank of Meade, Meade (national)
10-30-57
The Santa Fe State Bank
Kansas: Sublette
Placed in voluntary liquidation 10-16-37
Bank of Columbus
Kentucig: Columbus
Absorbed by Clinton Bank, Clinton (nonmember) 3-16-37
The Fostoria State Bank
Michigan: Fostoria
Placed in voluntary liquidation 10-4-37
The State Bank of Marcellus
Michigan: Marcellus
Placed in voluntary liquidation 6-17-57
•
•
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Number
approval
record__
•
3
Location
Name
APPROACHING INSOLVENCY OR IN CONDITION WHICH WILL LEAD
TO INSOLVENCY IF NOT CORRECTED (31)
Banks not members of Federal Reserve System (31) (cont'd)
Missouri: Lincoln
Peoples Bank of Lincoln
Absorbed by Farmers Bank of Lincoln, Lincoln (nonmember) 7-5-37
Missouri: Oak Hill
Bank of Oak Hill
Absorbed by Peoples Bank of Cuba, Cuba (nonmember) 5-26-37
•
•
Nebraska: Eustis
The Pioneer Bank
Absorbed by Farmers State Bank, Eustis (nonmember) 6-28-37
Nebraska: Funk
The Funk State Bank
Placed in voluntary liquidation 2-24-37
Nebraska: Gothenburg
The Farmers State Bank
Absorbed by First State Bank, Gothenburg (nonmember) 4-45-37
•
Nebraska: Trenton
The Citizens State Bank
Absorbed by State Bank of Trenton, Trenton (nonmeMber) 5-29-37
New Jersey: Weehawken
The Park Trust Co.
Absorbed by The Trust Company of
Jersey, Jersey City
(nonmeMber) 1-12-37
•
North Carolina: Boone
The Watanga County Bank
Absorbed by The Northwestern Bank, North Vdlkesboro (nonmember)
6-30-37
•
111
Oklahoma: Howe
State Bank & Trust Co.
Placed in voluntary liquidation 12-21-37
Ohio: Hamilton
The ham.lton Dime Savings Bank Uo.
Absorbed by The First National Bank and Trust Company of
Hamilton, Hamilton (national) 1-30-37
Oregon: Ashland
State Bank of Ashland
Absorbed by The First National Bank of Portland, Portland
(national) 2-6-37
•
Pennsylvania: Latrobe
The Latrobe Bank and Trust Company
Absorbed by First National Bank in Latrobe, Latrobe (national)
6-12-37
Texas: Ballinger
Security State Bank
Absorbed by The Farmers & Merchants Stnte Bank, Ballinger
(nonmember) 1-12-57
Texas: Gunter
First State Bank
Placed in voluntary liquidation 12-17-37
•
•
Texas: Johnson City
Johnson City State Bank
Absorbed by The Blanco National Bank, Blanco (national) 12-14-37
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Federal Reserve Bank of St. Louis
Number
approval
record
4
Name
Location
APPROACHING INSOLVENCY OR IN CONDITION WHICH WILL LEAD
TO INSOLVENCY IF NOT CORRECTED (51)
Banks not members of Federal Reserve System (51) (contid)
First State Bank
Texas: McCaulley
Absorbed by The Farmers & Merchants National Bank of Hamlin,
Hrmlin (national) 1-2-37
Guaranty Bond State Bank
Texas: Queen City
Absorbed by The Atlanta National Bank, Atlanta (national) 1-3-37
•
•
Union Trust Company of Bellingham
Washington: Bellingham
Absorbed by The Bellingham Naticnal Bank, Bellingham (national)
9-30-37
Security Bank of Oshkosh
Wisconsin: Oshkosh
Absorbed by The First National Bank in Oshkosh, Oshkosh
(national) 12-51-57
HOLDING UNDUE AMOUNTS OF SUBSL,NDithD ASSETS OR ENGAGING
IN UNSOUND BANKING PRACTICES (16)
Banks not members of Federal aurve System (14)
Hot Sulphur
First State Bank of Sulphur Springs
Springs
Absorbed by Bank of Kremmling, Kremmling (nonmember) 6-14-37
Colorado:
Cook County Trust & Savings Bank of
Illinois: Homewood
Succeeded by The Cook County National Bank of Homewood, which
changed title to The National Bank of Harvey, Harvey (national)
1-28-Z7
State Bank of Taylor Ridge
Illinois: Taylor Ridge
Placed in voluntary liquidation 6-30-37
•
•
The Blaine State Bank
Kansas: Blaine
Absorbed by The Farmers State Bank of Westmoreland, Westmoreland (nonmember) 8-15-37
The Holton State Bank
Michigan: Holton
Placed in voluntary liquidation 12-15-57
Merigold Bank
Mississippi: Merigold
Absorbed by Cleveland State Bank, Cleveland (nonmember) 3-17-57
•
North WilkesDeposit & Savings Bank
boro
Absorbed by The Northwestern Bank, North Wilkesboro (nonmember)
6-ZO-37
North Carolina:
•
•
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Federal Reserve Bank of St. Louis
Number
approval
record
•
Location
Name
hOLDIVG UNDUE AMOUNTS OF SUBSTANDARD ASSETS Oh ENGAGIaG
IN UNSOUND BANKING PRACTICES (16)
Banks not members of Federal Reserve System (14) (contld)
North Carolina: Sparta
The Bank of Sparta
Absorbed by The Northeestern Bank, Iorth Wilkesboro (nonmember)
6-30-37
Oregon: Astoria
Bank of Astoria
Absorbed by The United States National Bank of Portland, Portland
(national) 7-17-37
Oregon: Redmond
The Dairymens Bank
Absorbed by The United States National Bank of Portland, Portland
(national) 1-27-57
Pennsylvania: Mt.Lebanon
Mt. Lebanon Bank
Absorbed by the Commonwealth Trust Company of Pittslourgh, Pittsburgh (meMber FRS) 1-2-37
Tennessee: Christiana
Bank of Christiana
Absorbed by Murfreesboro Bank & Trust Co., ,lurfreesboro (nonmeMber)
9-14-57
Tennessee: tagleville
People Bank
Absorbed by ,Aurfreesboro Bank & Trust Co., Murfreesboro (nonmember)
9-14-37
Texas: Canadian
Canadian State.Bank
Absorbed by The First National Bank of Canadian, Canadian
(national) 9-21-37
a_anisg. members of Federal Reserve aystem absorbed or succeeded
12y banks not memoers of that system (2)
•
The Sheffield aational Bank
Alabama: Sheffield
Absorbed by Tennessee Valley Bank, Decatur (nonmember) 4-6-F,7
Pennsylvania:
Parkers
Landing
The First National Bank of Par.kers Landing
Absorbed by Foxburg Bank, Foxburg (nonmeMber) 1-2-37
•
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Federal Reserve Bank of St. Louis
Number
approval
record
6
Name
Location
NOT IN FINANCIAL DIFFICULTIES AT Tt., PtILELNT TI.viE, BUT
UNECONOMIC AND 6ITti NO FUTURE (20)
Banks not members of .Federal Reserve Syptem (17)
Citizens Bank
Arkansas: Gillett
Placed in voluntary liquidation 12-15-37
Bank of Plumerville
Arkansas: Plumerville
Placed in voluntary liquidation 8-31-37
The Garfield County State Bank
Colorado: Grand Valley
al)
Absorbed by The First National Bank of,Glenwood Springs (nation
411
•
Westcliffe State Bank
Colorado: V,esicliffe
Placed in voluntary liquidation 6-28-37
Capron Bank
Illinois: Capron
Placed in voluntary liquidation 8-14-37
Du Bois State Bank
Illinois: Du Bois
Placed in voluntary liquidation 8-21-37
111
Illinois: Fithian
Placed in voluntal
Farmers State Bank
liquLldation
South Marion State Bank
Indiana: Marion
Absorbe& by National Bank in Marion, Marion (national) 5-1-37
Sioux County Savings Bank
Iowa: Orange City
Northwestern State Bank of Orange City, Orange City (nonmember)
9-23-37
Red Oak Trust & Savings Bank
Iowa: Red Oak
Placed in voluntary liquidation 2-20-67
•
411
Valley State Bank
Maryland: Middletown
Absorbed by Middletown Savings Bank of Frederick County, iiiddletown (nonmember) 7-31-37
FarEers Savings Bank of White Pigeon
Michigan: White Pigeon
Absorbed by First Commercial Savings Bank, Constantine (nonmember)
6-30-37
East Side Bank of Commerce
Missouri: Kansas City
Absorbed by Commerce Trust Com2any, Kansas City (member FRS)
3-13-37
•
Miller County Exchange Bank
Missouri: Olean
Absorbed by Bank of Eldon, Eldon (nonmember) 4-22-37
The Bank of Bladen
North Carolina: Clarkton
ber)
Abso:bed by ticcamaw Bank and Trust Co., Whiteville (nonmem
2-17-37
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Federal Reserve Bank of St. Louis
Number
aooroval
record
S
N
i
r
changes
list
-7._
Location
Name
NOT IN FINANCIAL DIFFICULTIES AT THE PRESENT TIME, BUT
UNECONOMIC AND WITH NO FUTURE (20)
Banks not members of Federal Reserve gyptem (17) (cont'd)
The Security First Bank
Oklahoma: Covington
Absorbed by Bank of Marshall, Marshall (nonmember) 1-16-37
Wenatchee Valley Bank
Washington: Wenatchee
Absorbed by Seattle-First National Bank, Seattle (national)
12-31-37
111
•
Banks meMbers of Federal &serve q-Latem absorbed or succeeded
12y. banks not members of that ystem CET
The First National Bank
Kansas: Holyrood
Holyrood,
Holyrood (nonmember) 1-25-67
Bank
of
Absorbed by
The First National Bank of Thompson
North Dakota: Thompson
Absorbed by First State Bank of Buxton, Buxton (nonmember) 9-27-37
•
The Nixon National Bank
Texas: Nixon
Bank
(nonmember) 2-27-37
Absorbed by Nixon State
ABSORBED OR LIQUIDATED FOR REASONS OTHER THAN CONDITION OF
BANKS OR FUTURE PROSPECTS (69)
Banks not meMbers of Eederal Reserve System(54)
Covina Valley Savings Bank
California: Covina
Absorbed by Bank of America N.T. & S.A., San Francisco (national)
4-10-37
•
•
The First Savings Bank of Glendora
California: Glendora
Absorbed by Bank of America N.T. & S.A., San Francisco (national)
7-10-37
Lindsay Savings Bank
California: Lindsay
Absorbed by Bank of America N.T. & S.A., San Francisco (national)
6-12-37
Modesto Trust et Savings Bank
California: Modesto
Absorbed by The Anglo California National Bank of San Francisco,
San Francisco (national) 4-10-37
•
Pasadena Savings Bank
California: Pasadena
Absorbed by Bank of America N.T. & S.A., San Francisco (national)
1-23-37
The Fairfield Trust Company
Connecticut: Fairfield
Absorbed by The Bridgeport City Trust Company, Bridgeport
(nonmember) 6-1-37
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Federal Reserve Bank of St. Louis
Number
approval
record
8
Location
Name
ABSORBED OR LIQUIDATED FOR REASONS OTHER THAN CONDITION
OF BANKS OR FUTURE PROSPECTS (69)
Banks not members of Federal Reserve System(54) (cont'd)
Florida: Tampa
Latin American Bank of Thor City
Succeeded by The Broadway National Bank of Tamps, Tampa (national)
7-1-57
Illinois: Highland Park
Highland Park State Bank
Succeeded by The First National Bank of Highland Park, Highland
Park (national) 9-50-37
Illinois: Stillman Valley
StillmPn Valley Bank
Succeeded by The Stillman Valley National Bank, Stillman Valley
(national) 1-2-37
Illinois: Wyanet
Bank of Wyanet
Placed in voluntary liquidation 11-17-57
Indiana: Culver
Charter renewal date 12-6-37
The State Exchange Bank
Indiana: Hammond
Calumet State Bank
Succeeded by The Calumet National Bank of Hammond, Hammond
(national) 4-30-37
•
•
Indiana: Jeffersonville
Charter renewal date 11-8-37
The Clark County Bank
Indiana: La Porte
Charter renewal date 1-16-57
La Porte Loan and Trust Co.
Indiana: Linden
Charter renewal date 12-6-57
Linden State Bank
Indiana: Oaklandon
Charter renewal date 2-23-37
The Oaklandon State Bank
Indiana: Plainville
Farmers State Bank
Charter renewal date 11-15-37
•
Indiana: Sullivan
Charter renewal date 8-2-37
Sullivan State Bank
Indiana: Veedersburg
Charter renewal date 8-6-37
Veedersburg State Bank
Indiana: West College Corner
Charter renewal date 10-25-57
The Farmers State Bank
Iowa: Latimer
State Bank of Latimer
Absorbed by Hampton State Bank, Hampton (nonmember) 3-23-57
•
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Number
approval
record
•
9-
N1
1
ch
list
Location
Name
ABSORBED OR LIQUIDATED FOR REASONS OTHER THAN CONDITION OF
BANKS OR FUTURE PROSPECTS (69)
Banks not meMbeu of Federal Reserve System (54) (contid)
Mount Ayr State Bank
Iowa: Mount Ayr
Succeeded by The Security State Bank, Mount Ayr (nonmeMber) 7-1-57
Commercial Trust & Savings Bank
Iowa: Storm Lake
Succeeded by The Commercial Trust & Savings Bank, Storm Lake
(nonmember) 10-25-57
The Exchange State Bank of Dighton
Kansas: Dighton
Absorbed by The First National Bank of Dighton, Dighton (national)
6-18-57
•
•
Dover State Bank
Kansas: Dover
Absorbed by Guaranty State Bank, Topeka (nonmember) 2-20-37
The Wilson County Bank
Kansas: Fredonia
Succeeded by First National Bank in Fredonia, Fredonia (national)
12-51-56
Banca Commerciale Italiana Trust Co.
Massachusetts: Boston
liquidation
11-27-57
Placed in voluntary
Ithaca Savings Bank
2ilichigan: Ithaca
Absorbed by Commercial National Bank, Ithaca (national) 12-51-37
Farmers & Merchants State Bank
Minnesota: Pine City
Absorbed by First National Bank of Pine City, Pine City (national)
111
•
Bank of Centerviey;
Missouri: Centerview
Absorbed by The Peoples National Bank, Warrensburg (national)
1-11-37
The Citizens Bank
Nebraska: Ogallala
Succeeded by The First National Bank in Ogallala, Ogallala
(national) 2-8-37
First State Bank of Las Vegas
Nevada: Las Vegas
Bank
of Nevada, Peno (national) 12-29-37
National
Absorbed by First
The Merchants & Farmers Bank
North Carolina: Bakersville
North Wilkesboro (nonmember)
Bank,
Northwestern
Absorbed by The
6-50-57
•
Bank of Onslot
North Carolina: Jacksonville
Bank
& Trust Co., Smithfield (nonmember)
Absorbed by First Citizens
1-21-57
Farmers & Merchants Bank
North Carolina: Tabor City
Co., Whiteville (nonmember)
Bank
&
Trust
Waccamaw
Absorbed by
10-28-37
•
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Number
approval
record
-10gr
N;e
C
-es
_
Name
Location
ABSORBED OR LIQUIDATED FOR REASONS OTHER TliAN CONDITION
OF BANKS OR FUTURE PROSPECTS (69)
Banks not members of Federal Etosat System (54) (cont'd)
The Citizens Bank of Albany
Ohio: Albany
1-8-36
tion
Placed in voluntary liquida
The North Fairfield Savings Bank Co.
Ohio: North Fairfield
Absorbed by Willard United Bank, Willard (nonmember) 11-13-37
•
•
•
The Bank of Commerce
Oklahoma: Claremore
Succeeded by The First National Bank in Claremore, Claremore
(national) 10-30-57
The Bank of Frederick
Oklahoma: Frederick
Succeeded by National Bank of Frederick, Frederick (national)
10-30-57
Bank of Lakeview
Oregon: Lakeview
Absorbed by The First National Bank of Portland, Portland
(national) 7-12-57
Bank of Aspinwall
Pennsylvania: Aspinwall
Absorbed by Commonwealth Trust Company of Pittsburgh, Pittsburgh
(member FRS) 1-2-37
The Johnston Bank
South Carolina: Johnston
Company, Johnston (nonmember)
Banking
Ridge
The
by
d
Absorbe
7-6-37
The Bank of Aurora
South Dakota: Aurora
2-1-37
tion
liquida
ry
volunta
in
Placed
•
•
First State Bank
Texas: Garrison
Bank, Garrison (nonmember) 2-18-57
State
ial
by
Commerc
ed
Succeed
Merchants State Bank & Trust Co.
Texas: Laredo
of Laredo, Laredo (national)
Bank
l
Nationa
Union
by
Absorbed
8-28-37
Union Stute Bank & Trust Co. of
Laredo
of Laredo, Laredo (national)
Bank
l
Nationa
Succeeded by Union
3-3-57
Texas:
•
Laredo
Robinson State Bank & Trust Company
Texas: Palestine
l Bank of Palestine, Palestine
Nationa
Absorbed by The hoyall
(national) 12-31-37
Citizens Bank of Bremerton
Washington: Bremerton
l Bank, Seattle (national)
Nationa
Absorbed by Seattle First
7-1-57
•
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Federal Reserve Bank of St. Louis
Nulber
approval
record
NJ
changes
, lijst_ _ _
Name
Location
ABSORBED OR LIQUIDATED FOR REASONS OTHER TI-IAN CONDITION
OF BANKS OR FUTURE PROSPECTS (69)
Banks not mkbArg_ of rederal
_e,sgsli.r.t, System (54)(contIcl)
First State Bank
Washington: Bremerton
Absorbed by National Bank of Washington, Tacoma (national) 9-16-37
The Castle Rock Bank
Washington: Castle Rock
Absorbed by National Bank of Washington, Tacoma (national) 9-7-57
411
•
•
First Savings & Trust Bank
Washington: Colfax
Absorbed by Seattle First National Bank, Seattle (national) 6-3-57
Tower Savings Bank
Washington: Seattle
Bank, Seattle (member FRS)
Savings
&
Absorbed by Peoples Trust
Bank of Morganton
Zest Virginia: Morgantown
Bank of Morgantown, Aorgantown
National
Succeeded by The First
(national) 11-16-57
Princeton State Bank
Wisconsin: Princeton
Absorbed by Farmers-Merchants National Bank in Princeton, Princeton
(national) 2-1-57
Banks members of Federal Reserve System absorbed or succpeded la
banks not members of that ,system (117
The First National Bank of
AlabamP: Collinsville
Absorbed by Tennessee Valley Bank, Decatur (nonmember) c-25-37
The First National Bank in Lake
Village
Succeeded by Bank of Lake Village, Lake Village (nonmember)
10-50-57
Arkansas:
•
Lake Village
Barnett National Bank of Avon Park
Florida: Avon Park
Park, Avon Park (nonmember) 12-2-57
Avon
of
Bank
Barnett
Succeeded by
The First National Bank of
Florida: Marianna
Marianna, Marianna (nonmember) 1-2-37
of
Bank
First
The
by
Succeeded
The First National Bank of
Georgia: Blakely
Blakely, Blakely (nonmember) 5-15-37
of
Bank
State
Succeeded by First
•
The Lagrange National Bank
Georgia: Lagrange
Bank of Lagrange, Lagrange (nonSouthern
Succeeded by Citizens &
member) 8-2-57
First National Bank
Iowa: Diagonal
Succeeded by First State Bank, Diagonal (nonmember) 11-23-37
•
•
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Federal Reserve Bank of St. Louis
Number
approval
record
-12-
Number
approval
record
Name
Location
ABSORBED OR LIQUIDATED FOR REASONS OTHER THAN CONDITION OF
BANKS OR FUTURE PROSPECTS (69)
Bargia meMbeLE of Federal Reserve Pystem absorbed or succeeded
banks not meMbeza of th_Al.a.p.LtsE (15) (cant'a)
hy
The First National Bank of Jordan
Minnesota: Jordan
Succeeded by Northtestern State Bank of Jordan, Jordan (nonmember)
12-33-57
Farmers & Merchants National Bank
Minnesota: Minneota
Succeeded by Farmers & Merchants State Bank of Minnesota, Minneota
(nonmember) 6-1-37
111
•
•
First National Bank of Cando
North Dakota: Cando
Succeeded by The First State Bank of Cando, Cando (nonmember)
5-1-57
The Merchants National Bank of
North Dakota: Cavalier
Succeeded by Merchants & Farmers Bank of Cavalier, Cavalier (nonmember) 3-22-37
The First National Bank of Park River
North Dakota: Park River
Succeeded by The First State Bank of Park River, Park River (nonmember) 3-8-37
First National Bank at De Kalb
Texas: De Kalb
De Kalb (nonmember) 2-39-57
Bank
of
Kalb,
De
State
by
Succeeded
The First National Bank of Mabank
Texas: Mabank
Mabank (nonmember) 8-4-57
Bank,
by
State
Security
Succeeded
The First National Bank of
Texas: Winters
Absorbed by The Winters State Bank, Winters (nonmember) 11-11-57
•
II/
INFORMATION NOT AVAILABLE (1)
pm absorbed or succeeded
.
Banks members of Federal Reserve §yst
bankp not membezu. of that system (1)
California:
•
•
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Federal Reserve Bank of St. Louis
Oakland
Central Bank
12,
•
iCIY% c LI
•
•
2. Banking practices
•
•
•
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Federal Reserve Bank of St. Louis
a. Table 5 and 4 and text
b. List to support Table 3: 1Jisposition of cases of insured
banks cited to supervisory authorities
c. Table 4 as originally prepared: Practices and violations
for which insured banks were cited to supervisory authorities - with identifying numbers
UNSAFE AND UNSOUND BANKING PRACTICES
17
•
If a considerable portion of the loans are subject to particular hazards
the bond portfolio should avoid these risks. A proper maturity
schedule depends both upon the quality and maturities of the loans
and discounts and upon the character of the liabilities. Only high
grade bonds should be purchased. They should be purchased for
investment with the expectation of holding them to maturity. Securities should not be purchased with the intention of selling at a profit.
Developments in the securities market during 1937 have demonstrated the soundness of the Corporation's opposition to trading which
was expressed in the Corporation's Annual Report for the year ending
December 31, 1936, as follows:
"The banks constitute one of the most important groups of investors in
the bond market. As a group they cannot get in and out of the investment market without completely disrupting that market. As a consequence they cannot speculate in securities without undermining the soundness of the financial structure of the entire country."
A bank which buys for investment only will have a minimum number of transactions on which profit or loss will result and on which to
pay costs. Profits from transactions in securities should not be used
for dividends. Such profits should be placed in a special valuation
account to be used to offset losses. Premiums on bonds should be
written off promptly or amortized out of income. Securities carrying
a high degree of risk of default should not be purchased and a bank
which holds such securities should establish reserves against possible
loss from default. A bank which adheres to the policy outlined above
need not be concerned about price fluctuations on high grade bonds
held for investment.
•
Holding company banking. The two chief means of attaining
multiple office banking at the present time are: (1) branch banking,
and (2) group or holding company banking. Branch banking is,
under present law, restricted to State lines and each State can decide
upon the kind of branch banking, if any, which it desires. By means
of the holding company device, however, one banking interest can
operate offices in as many States as it desires and to any extent within
States.
The holding company device facilitates self-dealing and concentration of lines of credit to related interests beyond the limits contemplated by law. The development of large banking organizations
extending over many States and possibly over the entire nation
involves a concentration of risk through the hazard of failure of important groups. Difficulties of examination and supervision multiply
with the growth of banking organizations controlled by single interests.
UNSAFE AND UNSOUND BANKING PRACTICES
Action on unsafe and unsound practices and violations of
law or regulations. The Federal Deposit Insurance Corporation
is authorized to terminate the insured status of any bank which continues to engage in unsafe and unsound practices or in violations of
law or regulations. The procedure followed in these cases, as specified
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Federal Reserve Bank of St. Louis
18
FEDERAL DEPOSIT INSURANCE CORPORATION
in the deposit insurance law and as developed in practice, is as follows:
(1) the proper bank supervisory authority (the Comptroller of the
Currency in the case of a national bank, or of any other bank in the
District of Columbia, the State banking authority in the case of a
State bank, and the Board of Governors of the Federal Reserve
System in the case of a State bank member of that system) is notified
of the existence of such practices or violations;(2) the bank is allowed
120 days, or such shorter period as may be specified by the appropriate
supervisory authority, in which to correct the practices or violations
in question; (3) after the close of the period specified the bank is
reexamined to determine the extent to which the practices or violations have been corrected;(4) if the practices or violations have not
been corrected the bank is notified of the intention of the Corporation
to terminate its insured status after 30 or more days and a time and
place for a hearing is designated; (5) a hearing is held by the Board
of Directors of the Corporation, or by a designated representative,
at which the bank may appear, to consider the evidence; (6) if the
evidence shows that the practices or violations exist and are continuing, the bank may be given a final opportunity to make the necessary
corrections and, unless such corrections are made, an order is issued
terminating the insured status of the bank.
Table
3. DISPOSITION DURING 1937 OF CASES OF INSURED BANKS CITED TO
SUPERVISORY AUTHORITIES FOR UNSAFE AND UNSOUND BANKING
PRACTICES OR VIOLATIONS OF LAW OR REGULATIONS
Number of
cases
Total
Banks cited during 19371
Banks cited during 1936, further action still pending on January 1, 1937'
Status on December 31, 1937:
Corrections made
Insurance of bank terminated for failure to make corrections
Banks suspended
Banks absorbed by other banks
120-day correction period expired:
Banks notified of intention to terminate insured status and date set for hearing...
Hearing held, corrections agreed to by bank, awaiting results of reexamination to
determine whether corrections have been made
Hearing held and charges sustained3
Further action deferred pending consummation of plans for merger
Action otherwise deferred
120-day correction period not yet expired
•
39
25
14
6
1
16
6
3
1
1
2
2
1
'Includes 2 banks originally cited in 1936 but against which action was deferred and new citations
issued in 1937.
,For the status of these cases on December 31, 1936, see the Annual Report for 1936, Table 4,
p. 17. Excludes the 2 banks mentioned in footnote 1.
'The insured status of this bank was terminated by the Corporation January 19, 1938, effective
April 1, 1938.
During 1937 the Corporation took action on 39 insured banks.
Of these, 14 were banks which had been cited for unsafe and unsound
practices in 1936 and 25 were cited in 1937. By the close of 1937,
6 banks had corrected their practices, 16 had suspended operations
and 6 had been absorbed by other banks. In 9 cases the 120-day
period had expired and further action by the Corporation was pending,
while in 1 case the 120-day waiting period had not expired. The
insurance of one bank was terminated. Further details regarding
these cases will be found in Table 3.
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Federal Reserve Bank of St. Louis
19
UNSAFE AND UNSOUND BANKING PRACTICES
•
Character of unsafe and unsound practices and violations
of law or regulations leading to Corporation action. Most of
the banks cited for unsafe and unsound practices or violations of law
or regulations had engaged not merely in one but in Isuch
practices or violations. Of the 25 banks cited for such prctices or
violations during 1937, 22 were without sufficient net investd capital.
I
of the banks were charged with lax loan and collection policies
Most
of various types, including excessive credit to officers or dirctors and
their interest and affiliations, abnormal volume of substandard loans
Ill securities, habitual carrying of overdrafts, and an abnormal volume
If past due loans. A large proportion of the banks had also failed to
secure and maintain adequate financial statements and credit data in
support of loans or renewals, and a large proportion had retained on
their books as assets loans and investments which should have been
charged off. More than half of the 25 banks had violated the legal
limitations upon the amount or character of loans and investments.
More than half of them were operated by incompetent or hazardous
officials.
A detailed list of the unsafe and unsound practices and violations
of law or regulations for which banks were reported to supervisory
authorities will be found in Table 4.
•
Table 4. UNSAFE AND UNSOUND BANKING PRACTICES AND VIOLATIONS OF
LAW AND REGULATIONS FOR WHICH 25 INSURED BANKS WERE CITED TO
SUPERVISORY AUTHORITIES DURING 1937
Number
of banks
cited
Capital:
Operation with impaired capital
Operation of bank though insolvent
Operation without sufficient net capital account
18
2
2
Loans and investments:
Lax credit and collection policies
Failure to maintain an adequate credit file in support of loans
Abnormal volume of substandard loans or securities
Abnormal volume of past due loans
Failure to support real estate loans with appraisals, abstracts, and attorney's opinions.
Excessive credit to officers or directors and their interests and affiliates
Excessive credit to other favored borrowers or habitual overdrafts
Lax investment policies
18
16
14
11
8
8
7
5
Management:
Hazardous, untrustworthy, and incompetent management
Failure of directors to manage banks properly
13
2
Bookkeeping and szenerai records:
Inclusion of losses in bank's assets
16
Violations of law and regulations:
Making and carrying of loans in excess of legal limits
Continued violation of State banking laws
Continued violation of Regulation IV of the Federal Deposit Insurance Corporation or
Regulation Q of the Federal Reserve System regarding payment of interest and repayment of time deposits
Holding of real estate for longer period than permitted by
Payment of dividends in violation of State law .
Failure to bond officers as required by law
Extension of credit to or on security of obligations of affiliates
Violation of Regulation U of the Federal Reserve System regarding loans for purchase of
stock
I,oans on own stock
Engaging in activities beyond powers granted by charter
•
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Federal Reserve Bank of St. Louis
11
8
6
2
2
1
1
1
1
20
FEDERAL DEPOSIT INSURANCE CORPORATION
•
OTHER ACTIONS OF THE CORPORATION
Admissions to and terminations of insurance. During 1937,
28 banks which received national charters from the Comptroller of
the Currency and 7 State banks which were admitted to the Federal
Reserve System were automatically admitted to insurance.' Of these
banks, 23 were successors to other insured banks and one was a trust
company engaged in commercial banking.
In addition to passing informally on preliminary applications the
Corporation acted upon 133 formal applications from banks for
admission to insurance as State banks not members of the Federal
Reserve System. Of these applications, 119 were approved and 14
disapproved. In five of the cases given approval this action was later
rescinded, because of failure of the banks to meet conditions of
approval, or because of the abandonment of plans for the opening or
reorganization of the bank concerned. The insured status of one
insured bank was terminated by the Corporation because of the
continuance of unsafe and unsound banking practices.
Table 5.
APPLICATIONS FOR ADMISSION TO INSURANCE ACTED UPON BY THE
FEDERAL DEPOSIT INSURANCE CORPORATION DURING 1937
Total
Total applications acted upon
Insured banks
reorganizing
under new
charters or
withdrawing
from F. R.
System
Banks
Banks
operating but opened or
not insured
opening
Jan. 1,
contemplated,
1937'
133
37
58
38
Approved:
Insurance effective in 1937
Insurance not effective in 1937
Approval rescinded
99
15
6
29
6
$87
6
33
3
2
Disapproved:
Banks continued in operation or opened
without insurance
Banks closed or plans of organization abandoned or delayed
12
8
2
11
lIncludes proposed successors to and consolidations of operating noninsured banks, and proposed
reorganizations and replacements of restricted banks.
'Includes 2 cases where first application was disapproved and reapplication approved.
31 of these banks was admitted to the Federal Reserve System at time of opening.
Table 5 shows the number of applications for insurance acted upon
during the year, the disposition of those applications, and the status
as of the close of the year of institutions involved. An analysis of
admissions to and terminations of insurance is contained in Part Two
of this report on pages 33 and 34.
'Under provisions of existing law approval of the Federal Deposit Insurance Corporation is not
required in such caseg.
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Federal Reserve Bank of St. Louis
LISTS TO SUPPORT TABLE
ACTIONS REGARDING UNSAFE AND UNSOUND PRACTICES
CASES REGARDING WHICH BANK SUPERVISORY
AUTHORITIES VvERE NOTIFIED DURING 1937 (25)
Number
approval
record
Corrections made (2)
Drayton State Bank
Farmers State Bank
North Dakota: Drayton
Kentucky: London
26
32
Bank suspended (13)
First International Bank
Sterling State Bank
Farmers & Merchants State Bank of Elgin
Farmers State Bank
Perth Amboy Trust Company
Raritan Trust Company
St. Onge State Bank
Whitewood Banking Company
The Taylor National Bank
Bank of Swifton
Fort Greene National Bank
Nevada Trust Coapapy
Burt State Bank
North Dakota: Noonan
aorth Dakota: Sterling
North Dakota: Elgin
North Dakota: Wyndmere
New Jersey: Perth Amboy
New Jersey: Perth Amboy
Aft South Dakota: St. Onge
"'South Dakota: Whitewood
Kentucky: Campbellsville
Arkansas: Swifton
New York: Brooklyn
riissouri: Nevada
North Dakota: Burt
W
27
28
33
34
39
40
41
42
43
45
46
47
49
Bank absorbed 12,/ another bank (5)
Illinois: Grayville
Montana: Ismay
New York: Manhasset
Pennsylvania: Mahonoy City
New Jersey: Perth Amboy
Farmers National Bank
First National Bank
First National Bank and Trust Company
The First National Bank of Mahonoy City
First National Bank
29
50
51
35
58
120-0PAL correction veriod expired
Bank notified of intention to teminate its insured ,statup, and date set for
hearing (1)
Guardian Alutual Savings Bank
Milwaukee
(:
correct' ji agreed
to d ermine wh
Hear)4 hel
Pennsylvania:
Bowmanstown
b
44
e-exmthation
awaitinr esults
been)e (1)
ctions
Bowmanstown Bank
36
Hearing held and cha7gps sustained (1)
Tennessee:
Winchester
Home Bank & Trust Co.
37
Further action deferred pending consummation of plans for merger (1)
New Jersey:
The American National Bank of Camden
Camden
48
120-da . correction period, not yet expired (1)
West Virginia:
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Federal Reserve Bank of St. Louis
Kermit
Kermit State Bank
50
LISTS TO SUPPORT TABLE
ACTIONS REGARDING UNSAFE AND UNSOUND PRACTICES
CASES REGARDING WHICh BANK SUPERVISORY AJTduRITIES WERE
NOTIFIED DURING 1936 AND FURTHER ACTION WAS TAKEN DURING 1937 (14)
Number
ao,)roval
record
Corrections made (4)
Kentucky:
Kentucky:
Missouri:
Kentucky:
Morehead
Irvington
Mansfield
Dunnville
Citizens Bank
First State Bank
Farmers and Merchants Bank
Peoples Bank
4
5
7
19
Bank suspended (5)
Indiana: Romney
Missouri: Trenton
Missouri: Bucklin
Romney Bank
Farmers Bank of Trenton
The Citizens bank
9
22
25
Bank absorbed 12z another bank (1)
Indiana:
Michigan City
Michigan City Trust and Savings Bank
20
Insurance of bank terminated on account of refusal to make corrections (1)
ew Jersey:
North Bergen
North Bergen Trust Company
13
120-day correction period expired:
Bank notified of intention to taminate its insured status and date set for
hearings (1)
Missouri:
Madison
Farmers and Merchants Bank
23
Hearing held, corrections agreed to 'ay. bank, awaiting results of re-examination
to determine whether corrections have been made (1)
Kansas:
Louisburg
Bank of Louisburg
1
Further action deferred Jencliqg consummation Jf olans for mtEger (1)
',Colorado:
Briggsdale
The Briggsdale State Bank
24
Home Savings Bank
Citizens Bank of Festus
12
21
Action otherwise deferred (2)
Georgia: Columbus
Missouri: Festus
•
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Federal Reserve Bank of St. Louis
(
7
Table). UNSAFE AND UNSOUND BANKING PRACTICES AND VIOLATIONS OF
LAN AND REGULATIONS FOR -hHICH 25 INSURED BANKS WERE CITED
TO SUPERVISORY AUTHORITIES DURING 1937
Number
of banks
cited
Identifying numbers
Apgroval reeord
Capital:
Operation of bank though insolvent
Operation with impaired capital
Operation without sufficient sound capital
2
18
2
39,40
26, 27,28,29,30,31,33,54,37,38,
41,42,43,45,46,48,49,50
32,55
Character of loans and investments:
Lax loan, or loan and investment, policies
Excessive credit to officers or directors
and their interests and afriliations
Excessive credit to other favored borrowers
Habitual carrying of overdrafts, or excessive credit extension through overdrafts
and cash items
Continued taking of livestock drafts from
persons on whoe drafts losses had previously been sustained or on lines preII
viously criticized by examiners
Excessive concentration of loans collateralized by warehouse receipts for
non-staple, not readily marketable
and speculative goods
Unwarranted extension of credit, or overloaned condition of bank
Frozen and extended condition of the loan
Abnormal volume of substandard loans or
securities
Excessive and unwarranted amount of assets
classified as losses by examiners
Abnormal volume of non-incowe-producing
loans and investments
Investments and speculEition in low-grade
and defaulted securities
li.laking of accomodation loans for apparent
purpose of deceiving examiners
Abnormal volume of real estate owned by
bank acquired for debts
'allure to adequately secure loans
ailure to obtain signatures of original
endorsers on renewal notes
Ilk
WLaxection
collection policy
18
8
2
32,35,67,58,39,43,47,50
37,38
6
32,54,57,41,45,47
2
32,42
1
46
2
2
14
26,50
39,40
32,34,35,37,58039,40,41,42,43,45,
48,49,50
1]
31,39,40,41,42,43,45,46,48,49,50
2
39,40
1
36
1
47
1
50
43,46,47
1
32
18
Abnormal volume of past-due loans
11
Failure to collect interest on loans in
cash and taking of notes in lieu thereof 1
Failure to file claims against estates of
deceased borrowers
1
Failure to secure and maintain sufficient
insurance coverage or merchandise for
which warehouse receipts are security
for loans
1
Failure to secure assignments of warehouse
receipts held as collateral for loans
1
•
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Federal Reserve Bank of St. Louis
27,51,32,34,360 37,38,39,40,41,42,
43,45,46,47,48,49,50
26,27,31,32,54,57,58,59,40,41,42,
43,45,46,47,48,49,50
32,34,37,38,39,40,41,42,45,49,50
40
45
46
46
-2-
8
Number
of banks
cited _
Identifying numbers
proval recor.d___
edit records:
Failure to secure and maintain adequate
financial statem-nts and credit data
in support of loans or renewals
Failure to sup,)ort real estate or mortgage loans with appraisals, title
certificates or attorney's ooinions
Granting and renewing of loans to corporations v.ithout obtaining r)roper
supporting resolutions and/or to
partnerships without obtaining supporting declarations of Partnership
Failure to record thortgages or deeds of
real estate
16
31,52,34,35,37,38,39,40,41,42,43,
45,46,47,49,50
7
32,35,43,45,46,49,50
3
35,58,43
1
42
1
1
39
40
Earning:
Low earnings of the bank
Continued operation of the bank at a loss
Character of management:
Continued management of bank by incompetent
and hazardous or untrustworthy manageent
m
15
Failure of directors to care properly for
2
111- interests of bank
Failure of directors to attend meetings of
board regularly
2
Failure to provide legally constituted
board of directors
1
Failure of bank and of directors to take
steps toward restoration of capital
impairment
1
Lax and unsatisfactory administration of
affairs of trust department
1
Disregard of recommendations of supervising authorities
4
Failure to truly inform bank examiners of
financial status of certain borrowers
and connection of managing officer of
bank with said borrowers
1
Failure of active officers to fulfill express promises to effect corrections
and improvements
1
Misaporopriation of bank funds by cashier
1
ill
kkeepim and Epperal records:
111—
Inclusion of losses among assets
15
illIncorrect and incomplete entries, thus misleading and deceiving examiners as to the
true condition of bank
railure to endorse uon notes partial payments therein, and to reveal to examiners
true status of such notes
Inefficiency and inaccuracy in accounting
methods and internal control which have
resulted in actual losses to the bank
Failure of aiscount committee to record
approval or action taken by it on loans
•
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Federal Reserve Bank of St. Louis
32,54,35,36,37,58,41,42,43,45,47,
49,50
39,40
39,40
59
49
58
52,34,45,47
47
32
56
27,51,32,33,34,55,37,38,39,40,41,42,
48,49,50
1
43
1
43
1
32
1
37
- 3-
Number
of banks
cited
Identifying numbers
IIPProval record
,..scellaneous policies:
Continuous borrowing by bank
Low liquidity ratio
Large amount of assets pledged as collateral security for borrowings
Unauthorized and unsound investment of
trust funds
Negligent payment of checks drawn against
fictitious balances
Intgular transactions through cash account
Contracts and methods of selling installment investment certificates and annuities and use of funds derived from
such sales
2
3
59,40
39,40,50
1
40
1
37
1
1
41
43
1
44
Violations of law and regulations:
Loans to certain borrowers in excess of the
maximum prescribed by State law
12
Loans on real estate in excess of legal
limit in relation to appraised value or
for longer time than permitted by law
5
xtension of credit to, or on security of
111
1
stock or obligations of, affiliates
Acquiring and holding stock in violation
of State law
1
Holding of real estate for longer period
than permitted by law (Sec.5137 U.S.R.S.) 2
Loans on own stak in violation of law
1
Making of loan on security of second mortgages on real estate, in violation of
State law
1
Illegal investment of trust funds
1
Acceptance and carrying of deposits of public funds in violation of applicable
provisions of State law
1
Failure to bona officers as required by law 2
Engaging in activities, namely sale of installment investment certificates and
annuities through a sales agency appropriation of part of the receipts therefrom, and other practices connected
which are beyond the powers
granted by the law and charter under
der
which
bankoperates
1
1
1
therewith,
Payment of dividend in violation of State
law
2
OF'ailure to disclose bills payable in report of condition to Federal Deposit
Insurance Corporation
1
Violation of regulation of Federal Deposit
Insurance Corporation or Board cf Governors of the Federal Reserve System
regarding nayment of interest and repayment of time deposits (Reg. IV)
(Reg. Q)
5
29,30,32,33,34,37,41,45,45,46,47,50
29,38,47
38
41
29,30
37
49
37
45
36,50
III
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Federal Reserve Bank of St. Louis
44
67,45
42
52,37,46,47,49
ac)( c31,
3.
•
•
•
•
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Federal Reserve Bank of St. Louis
Other actions of the Corporation
a. Tables 5-7 and text
b. List to support Table 5: Applications for admission to
insurance acted upon by the FDIC during 1.37
c. Table 6 us originally prepared: Applications to establish or relocate branches acted upon by the FDIu during lJ37
d. List to support Table 6 as originally prepared
e. Supplementary table: Size of centers in which the establishement of additional banking offices was approved
by the Corporation
f. Table 7 as originally prepared. (Note: List to support
this table not prepared, tabulations being made directly
from tables submitted by Mr. Ross and from Form S-28)
g. Text as originally written:
Assumption of uninsured deposits; asset transfers, reserve funds, and bank earnings.
h. List to support text as originally Nritten: Assumption
of uninsured deposits
i. List to support text as originally written: Asset transfers, reserve fonds and bank earnings
OTHER ACTIONS OF THE CORPORA ION
-c_ L
S
51.3
21
A.,.
Establishment of branches or additional offices. During
1937 the Federal Deposit Insurance Corporation approved 91 applications from banks not members of the Federal Reserve System to
establish or relocate branches, and 1 application of a bank to extend
full banking powers to a teller's window. Five applications were
disapproved or held for consideration. Under existing law, approval
of the Corporation is not required for the establishment of branches
by national banks and State banks members of the Federal Reserve
System.
More than half of the applications acted upon were for the establishment of additional or new banking offices, that is, branches in
places where no banking offices previously existed or which increased
the number of offices in the centers in which they were to be located.
The majority of the new offices approved were restricted solely to
accepting and paying deposits. The remaining applications were
largely for conversion of unit banks into branches.
Further details regarding the action of the Corporation on applications to establish or relocate branches are given in Table 6.
Table 6.
•
APPLICATIONS TO ESTABLISH OR RELOCATE BRANCHES ACTED UPON BY
THE FEDERAL DEPOSIT INSURANCE CORPORATION
DURING 1937
INSURED BANKS NOT MEMBERS OF THE FEDERAL RESERVE SYSTEM
Approved
Opened or
relocated
by Dec. 31,
1937
Not opened
or relocated
by Dec. 31,
1937
97
74
18
5
9
4
8
1
Total
Total applications
To establish additional banking offices
61
38
To convert banks into branches
34
25
To continue operation or change location of
branches in operation
11
10
To extend full banking powers to branch
formerly operated as teller's window
Disapproved,
1
'In addition numerous informal inquiries were submitted to agents of the Corporation.
Size of centers in which the establishment of additional
banking offices was approved by the Corporation. Counting
both banks admitted to insurance and new branches, the Federal
Deposit Insurance Corporation approved the opening of 90 new
banking offices by banks not members of the Federal Reserve System.
Of these, 59 were in centers which had no other banking office, and
17 were in centers with only one other banking office. Of the total
number, 68 were in centers having a population of under 10,000.
•
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
22
FEDERAL DEPOSIT INSURANCE CORPORATION
Changes in capital of banks. During 1937 the Corporation took
action on nearly 2,300 formal applications from insured commercial
banks not members of the Federal Reserve System for retirement or
reduction of capital.' Approximately 2,100 applications, involving
$18.5 million, were approved and 157 applications, involving $1
million, were disapproved. In addition to these formal applications
the Corporation received and passed on a large number of inquiries
or informal requests for opinions regarding proposed changes in capital
account.
•
Most of the formal applications acted upon by the Corporation
were for the retirement of capital obligations held by the Reconstruction Finance Corporation. Most of these retirements were
made for the purpose of enabling the banks to qualify for the reduced
rate of interest or dividends on preferred capital offered by the
Reconstruction Finance Corporation to those banks which agreed to
accelerate the contractual retirement of such capital. In some weak
banks the applications provided for the reduction in the par value of
capital stock outstanding in order to permit the writing off of losses.
Table 7.
APPLICATIONS FOR RETIREMENT OR REDUCTION OF CAPITAL ACTED
UPON BY THE FEDERAL DEPOSIT INSURANCE CORPORATION DURING 1937
INSURED BANKS NOT MEMBERS OF THE FEDERAL RESERVE SYSTEM
Number of retirements
or reductions'
Amount of retirement
or reduction
4110
Approved
Total
Disapproved
Approved
Disapproved
$1,068,089
2,121
157
$18,501,327
2,041
152
15,611,892
813,989
Preferred capital obligations held by others
32
6
911,535
254,100
Common stock
48
Capital obligations held by R. F. C.
1,977,900
'Number of banks is less than number of retirements and reductions as some banks applied to
retire more than one class of capital obligations and some banks applied more than once during the year.
NOTE: Figures of actual retirements during 1937 of capital obligations held by R. F. C. will be
found in Table 123, page 123.
Table 7 shows the number of applications for retirement or reduction of capital acted upon by the Corporation during 1937 and the
amounts involved in such applications. The amount of retirements
of Reconstruction Finance Corporation holdings of preferred capital
of banks not members of the Federal Reserve System appears in
Table 123, page 123.
Release of restricted deposits. The approval of the Corporation
is necessary for the release of deposits which have been restricted as to
payment since the Banking Holiday of 1933. During 1937 the
•
'Applications for the retirement or reduction of capital are submitted for approval to the Comptroller
of the Currency by national banks, and to the Board of Governors of the Federal Reserve System by
State banks members of the Federal Reserve System. Applications of all State banks are also submitted
to the appropriate State authorities.
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Federal Reserve Bank of St. Louis
REPORTS, REGULATIONS, AND RULINGS
•
23
Corporation approved the applications of five insured banks to
release $90,500 of restricted deposits. Two applications involving
$19,800 were disapproved.
Assumption of deposits in noninsured banks. Any assumption by an insured bank of the deposits of a noninsured bank requires
the approval of the Corporation. During 1937 the Corporation
approved 13 such applications.
Changes in location of insured banks. During 1937 the
Corporation approved changes in the location of 14 insured banks
not members of the Federal Reserve System. One of these changes
was not made.
REPORTS FROM BANKS
•
Reports of assets and liabilities and of earnings. The
Corporation called for reports of assets and liabilities as of June 30,
1937, and December 31, 1937, from each insured bank not a member
of the Federal Reserve System except those banks in the District of
Columbia and in the possessions which report to the Comptroller of
the Currency. The Corporation also called upon the same banks
for reports of earnings, expenses, and disposition of profits for the
year ending December 31, 1937. As of December 31, 1937, each
insured bank not a member of the Federal Reserve System which
operated a branch was requested to report the name and location
and the amount of deposits of each branch. The forms and instructions used in making these calls were similar to those used in 1936.
Summaries of semi-annual reports of assets and liabilities of all
insured commercial banks are published in pamphlet form. Analysis
of the assets and liabilities and of the earnings, expenses, and disposition of profits of insured banks will be found in Part Two of this
report.
REGULATIONS AND RULINGS OF THE CORPORATION
No regulations regarding insured banks were issued by the Corporation during 1937. Regulation IV relating to the payment of interest
on deposits was amended on February 10, 1937, to be effective the
following day by the elimination of subsection (f) of section 1 and the
addition to subsection (a) of section 2 of the following sentence:
•
"Within this regulation any payment to or for the account of any
depositor as compensation for the use of funds constituting a deposit
shall be considered interest." The latter amendment was only a
formal change and did not affect the substance or meaning of the
regulation as it had previously existed. The amended regulation
was published in the Annual Report of the Federal Deposit Insurance
Corporation for the year ending December 31, 1936, on pages 86 to 91.
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Federal Reserve Bank of St. Louis
24
FEDERAL DEPOSIT INSURANCE CORPORATION
LEGISLATION AFFECTING DEPOSIT INSURANCE
Federal legislation. No amendments to the deposit insurance
law, or other legislation specifically affecting the Federal Deposit
Insurance Corporation, were enacted in 1937.
•
State legislation. State legislation affecting deposit insurance
enacted during 1937 was confined primarily to the elimination of
double liability of stockholders of State banks. Approximately onethird of the States took action to eliminate such liability. At the end
of the year double liability with regard to stockholders of State banks
remained in only nine States. In the remaining States such liability
had been entirely or partially eliminated.
A few States also took action during 1937 to permit the appointment
of the Federal Deposit Insurance Corporation as receiver, or as an
assisting agency in the liquidation of suspended insured State banks.
At the close of 1937 the appointment of the Corporation as receiver
for suspended insured State banks was possible in 31 States. In
7 other States the State banking authorities may appoint the Corporation to assist in the liquidation of closed banks.
ORGANIZATION AND STAFF
Directors. No changes in the directorship of the Corporation
occurred during 1937.
•
Personnel. The personnel increased by 58 during 1937 and at
the close of the year consisted of 859 officers and employees, of whom
328 were located in the main office in Washington and 531 in the field
and at the regional offices. In addition, 61 persons were employed
temporarily in connection with the liquidation of loans and of suspended insured banks. The increase in personnel during the year
was chiefly in the Division of Liquidation and in the Administrative
and Service Division and arose from an expansion in the work of the
Corporation in connection with the payment of insured claims and
with the liquidation of loans and of suspended insured banks. The
number, by divisions, of officers and employees of the Federal Deposit
Insurance Corporation at the end of 1937 is given in Table 8.
1
FINANCIAL STATEMENT OF THE CORPORATION
Legal authority for disbursement of funds. Paragraph (1) of
subsection (k), section 12B of the Federal Reserve Act, as amended,
provides in part that "the Board of Directors of the Corporation shall
determine and prescribe the manner in which its obligations shall be
incurred and its expenses allowed and paid". The Board of Directors,
subject to the review of the Bureau of the Budget, as provided for by
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Federal Reserve Bank of St. Louis
•
'
LIST TO SUPPORT TABLE 0=?
APPLICATIONS FOR ADMISSION TO INSURANCE ACTED UPON BY THE
FEDERAL DEPOSIT INSURANCE CORPORATION DURING 1937
l
NAlf
Bank
Location
changes
list
Date approved or
disapproved
Identifying number
approval
record
APPROVED - INSURANCE EFFECTIVE IN 1937 (99)
Banks p_perating but not insured January 1, 1937 (29)
Alabama:
Colorado:
Florida:
Georgia:
Indiana:
Indiana:
Indiana:
•
•
•
•
f'
•
Bay Minette
Monte Vista
Starke
Fort Gaines
Cambridge City
La Fontaine
lest College
Corner
Kansas: Black Wolf
Kansas: Conway Springs
Kansas: Galena
Kansas: Garden Plain
Kansas: Holton
Kansas: Ransom
Kansasf Udall
Kentucky: Cumberland
Michigan: Cheboygan
Baldwin County Bank
Farmers and Merchants Bank
Florida. Bank at Starke
Fort Gaines Banking Company
The Peoples State Bank
La Fontaine Bank
iarmers State Bank
Black Wolf State Bank
The ,:tate Bank of
Citizens State Bank of
The State Bank of Garden Plain
The Kansas State Bank in
The First State Bank
The Bank of Commerce
The Guaranty Deposit Bank
The Cheboygan State Savings
Bank
Battle Mountain State Bank
Nevada: Battle Mountain
The Farmers Exchange Bank
Ohio: Lynchburg
Arthrson Brothers, Bankers
Dillon
Carolina:
South
State Bank of
Continental
Texas: Boyd
County State Bank
The
Coleman
Coleman
Texas:
Bank
State
The
First
Texas: Gainesville
Bank
State
The
Lytle
Texas: Lytle
Bank
State
Muenster
Texas: Muenster
Spur Security Bank
Texas: Spur
Industrial Bank of Danville
Virginia: Danville
Wirt County Bank
West Virginia: Elizabeth
st Virginia: New martinsNew iviartinsville Bank
ville
Vesper-Arpin State Bank
Wisconsin: Vesper
2894
2992
1846
1925
3000(a)
2025
5-25-57
4-2-57
5-20-37
11-15-37
2-26-57
4-19-37
1-18-37
7-28-37
2-17-57
2451
2372
2426
3090
1951
2327
1729
2632
1885
3-17-37
4-19-57
3-20-37
5-25-57
5-25-37
4-1-37
7-9-37
6-30-37
7-51-37
1-29-57
4-29-57
5-25-57
2110
2349
2134
2454
2450
2245
2604
2492
2697
1791
2375
2455
1-29-S7
9-10-37
1792
2898(a)
Banks opened or opening contemplated during 1937 (67)
Alabamq: Carbon Hill
,v4Alabpma: Carrollton
Arkansas: Ozark
Arkansas: Wilmot
California: Oakland
Colorado: Del Norte
Colorado: Eaton
Florida: Miami
Florida: West Palm Beach
Georgia: Americus
Georgia: Thomasville
Illinois: Benton
Illinois: herrin
Illinois: Marion
Iowa: La Porte City
Iowa: New Hampton
Iowa: Oscaloosa
Iowa: Worthington
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
9-30-37
10-4-37
2-10-37
2-26-37
10-6-57
5-15-57
Bank of Carbon Hill
First State Bank
Bank of Ozark
Wilmot State Bank
The Bank of Commerce
Rio Grande County Bank
The Eaton Bank
Miami Industrial Bank
Florida Bank Trust Company at
Citizens Bank of Americus
Bank of Thomas County
Bank of Benton
The Bank of Herrin
The Bank of Marion
La Porte City State Bank
Security State Bank
Iowa Trust & Savings Bank
State Bank of 7.orthington
10-18-37
8-5-57
5-20-37
9-22-37
9-20-57
8-18-37
7-9-57
4-29-57
3-13-37
2-26-37
2-10-57
6-25-37
4-1-57
9-10-37
9-30-37
6-10-37
4-29-57
7-30-37
3014
2794, ,
2428
2966
2960
2820
2579
2589 't
2022
1952
1876
2552
2246
2895
2897
2491
2388
2695
2
Bank
Location
Date ap-)roved or
disapproved
Identifying number
approval
record
APPhOYED - INSURANCE EFFECTIVE LUEING 1937 (99) - Continued
Banks opened or gpening contemplated during 1937 (57) - Continued
Fidelity Bank and Trust Company
Louisiana: Baton Rouge
Guaranty Bank and Trusit Company
Louisiana: Lafayette
Community State Bankli
Michigan& Grandville
Minnesota: Columbia
ColuMbia Heights State Bank
Heights
Kinston Industrial Bank
North Carolina: Kinston
Raleigh Industrial Bank
North Carolina: Raleigh
Wilson Industrial Bank
North Cavolina: Wilson
South Dakota: Belle Fourche Bank of Belle Fourche
Arlington State Bank in
Texas: Arlington
Medina Valley State Bank
Texas: Devine
The Bank of Madison
Nebraska: Madison
Chillicothe State Bank
Missouri: Chillicothe
Bank of Chaffee
,,lissouri: Chaffee
Union State Bank of
Minnesota: Lake City
The State Bank of Aeawood Falls
Minnesota: Redwood Falls
Citizens State Bank
Texas: Miles
First State Bank
Texas: Monahans
Union State Bank
Texas: South San Antonio
Central State Bank
Wisconsin: Marshfield
•
411
Avon Park
Blakely
Dawson
Lagrange
Culver
Jeffersonville
Linden
Oaklandon
Plainville
Sullivan
Veedersburg
West College
Corner
Diagonal
Mount Ayr
Storm Lake
Florida:
Georgia:
Georgia:
Georgia:
Indiana:
Indiana:
Indiana:
Indiana:
Indiana:
Indiana:
Indiana:
Indiana:
Iowa:
Iowa:
Iowa:
•
2448
2655
1955
2-10-37
10-18-57
1-27-37
6-15-37
11-19-37
7-31-57
7-15-37
10-18-37
10-4-37
8-5-37
7-15-37
7-9-37
7-9-37
2-17-37
7-15-37
8-18-37
1877
S.I
1790
2513
3080
2696
2608
3012
2993
2795
2578
2581
2605
1887
2609
2822
Insured 12.4414 reownizing under new charters or withdrawing from
Federal heserve System (36)
Alabama: Faunsdale
Alabama: Georgiana
Arkansas: Lake Village
Connecticut: Southington
•
5-20-37
7-28-37
2-26-57
Minnesota:
Minnesota:
Jordan
Minneota
idinnesota:
Sacred heart
Minnesota: Wykoff
North Carolina: North
kilkesboro
North Dakota: Buxton
North Dakota: Cando
North Dakota: Cavalier
North Dakota: Park hiver
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
5-25-37
5-17-57
9-10-37
2208(a)
2109
2686
4-29-37
12-7-37
5-20-37
2-10-57
6-15-57
11-15-37
10-18-67
11-4-37
2-18-57
7-15-37
7-15-37
7-51-37
2371
61'62
2429
1875
2512
3107(a)
3015
3079
1924
S.
2611
2721
The Farmers State Bank
First State Bank
The Security State Bank
The Commercial Trust & Savings
Bank
Northwestern State Bunk of
Farmers and Merchants State
Bank of Minneota
Farmers & Merchants State
Bank of Sacred heart
First State Bank of Wykoff
10-18-37
10-27-37
6-29-37
S.
6040(a)
2565
10-18-37
11-15-37
3017
3106
5-20-37
2430
5-25-37
8-21-37
2456
2847
The Northwestern Bank
First State Bank of Buxton
The First State Bank of
Merchants & Farmers Bank of
The First State Bank of
4-19-37
7-9-37
2-26-37
5-13-57
3-2-57
2650(a)
2582
3220
2024
1977
'Jatkins Banking Company
The Citizens Bank of
Bank of Lake Village
The Southington Bank & Trust
Company
Barnett Bank of Avon Park
First State Bank of Blakely
Bank of Dawson
Citizens & Southern Bank of
The State Exchange Bank
The Clark County State Bank
Linden State Bfalk
The Oaklandon State Bank
Farmers State Bank
Sullivan State Bank
Sate Bank
The Veeaersburgt
Nunber
bank
Bank
Location
Date approved or
disapproved
ii
APPROVED - INS
Identifying nuacr
approval
record
CI EFFECTIVE DURING 1957 (99) - Continued
Insured banks reorganizing under new charters or withdrawing
from Federal Reserve System, (35) - Continued
Texas: De Kalb
Texas: Garrison
Texas: Jasper
Texas: Mabank
Virginia: Cape Charles
State Bank of Le Kalb
Commercial State Bank
The First State Bank
Security State Bank
Northampton County Trust Bank
2-17-37
1-29-37
10-29-37
7-28-37
5-20-37
1886
1789
3077
2634
2410
APPROVED - INSURANCE NOT EFFECTIVE DURING 1937 (15)
Banks Latra-Ltdiz but not insured January 1, 1937 (6)
Indiana: Macy
Indiana: Yorktown
Iowa: Aolfe
abasso
Minnesota:
Pennsylvania: MercerFburg
Texas: Slaton
Citizens State Bank
Yorktown State Bank
Rolfe State Bank
1%abasso State Bank
Farmers Bank of
Citizens State Bank
7-9-37
9-10-37
12-22-37
10-27-37
8-18-37
2-17-37
2580
2896
3187
3041
2821
1888
Banks opened or ooening colLT_L,e1._Irlaj,..csi during 1937 (6)
111
Alabama: Elba
Florida: Bunnell
Florida: Tampa
Indiana: Vincennes
Pennsylvania: Philadelphia
Tennessee: Pulaski
Elba Exchange Bank
Citizens Bank of Bunnell
Morris Plan Bank of Tampa
Security Bank & Trust Co.
The Morris Plan Bank of
The Richland Bank
12-22-37
11-15-37
12-7-37
12-22-37
9-20-57
11-27-37
3168
5105
5133
3186
2957
3117
Insured banks reorganizing under new charterp or withdrawing
from Federal Rqserve Sy_stem (3)
Indiana: Delphi
North Dakota: Glen Ullin
North Dakota: Hebron
OF
Union Bank and Trust Company
State Bank of Glen Ullin
The First State Bank of
4-1-37
12-22-37
12-22-57
2280
3146
5147
APPROVED - APPROVAL RESCINDED BECAUSE OF ABANDOICENT
PLANS, WITHDRAWAL OF APPLICATION OR FAILURE TO MEET CONDITIONS
Banks opened or 2pfaing contemplated during 1937 (3)
Alabama:
Fort Payne
Florida: Lakeland
Mississippi: Jackson
The Guaranty Bank & Trust
5-20-37
Company
7-9-37
of
The Morris Plan Bank
5-25-37
Company
Commercial Bank & Trust
2427
2605
2453
Insured banks reorganizing under new cnarters or withdrawing
from Federal rieserve System (2)
Minnesota:
Tennessee:
•
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Deer Creek
Carthage
First State Bank
Citizens Bank & Trust Company
5-25-37
1-18-37
2452
1730
-4
Number
bank
nes
Location
Bank
Date approved or
disapproved
Identifying number
aporovea
record
DISAPPROVED - BANKS CONTINUED IN OPERATION, OR OPENED OR
REORGANIZED, WITHOUT INSURANCE (2)
Banks dperating, but not insured Januau 1, 1937 (1)
Missouri:
Deadwood
Bank of Deadwood
12-7-37
3134
Banks opened or openlEg contemplated during 1937 (1)
Kentucky:
Monticello
The Wayne State Bank
4-19-37
6-25-37
2351
2553
DISAPPROVED - BANKS CLOSED, OR PLANS OF ORGANIZATION
OR REORGANIZATION ABANDONED OR DELAYED (12)
Banks operatiag but not insured January 1, 1937 (1)
New Hampshire:
Lancaster
The Lancaster Trust Company
5-5-37
2696
Banks opened or opening contemplated during 1937 (11)
Arkansas: Hardy
Indiana: Noblesville
Kentucky: Harlan
Kentucky: Lexington
•
Massachusetts: Waltham
Minnesota: Ely
Missouri: Bloomfield
Oklahoma: Idabel
Tennessee: Newbern
Virginia: Danville
Union State Bank
Wainwright Trust Company
Cole Industrial Bank
The Central Industrial
Savings Bank
Merchants Bank & Trust Company
Security State Bank
The Commercial Bank of
First state Bank of
Bank of Commerce
Security Savings Bank
West Virginia:
The Bank of Pineville
Pineville
10-4-37
12-22-37
10-27-57
2979
3148
3068
2-10-37
10-18-37
9-10-37
11-15-37
12-7-37
10-18-37
6-25-37
5-5-37
5-25-37
1878
3018
2867
5091
3135
3019
2554
2397
2457
FOOTNOTE 1. - PROPOSED SUCCESSORS TO AND REORGANIZATIONS OF
OPERATING NONINSURED BANKS AND REPLACELENTE OF FESTRICTED BANKS
Proposed successors to ooerating noninsured banks
•
Kansas: Galena
Ohio: Lynchburg
Pennsylvania: Mercersburg
Citizens State Bank of
The Farmers Exchange Bank
Farmers Bank of ihercersburg
11-15-37
'6-20-37
8-18-37
5090
2164
2821
Proposed qmsoliaation of operating iapured banks
Indiana:
Cambridge City
The Peoples State Bank
10-6-37
3000(a)
Proposed reorzanizations or replacemenAk of restricted bankp
•
Alabama: Bay Minette
Baldwin County Nank
Florida: Starke
Florida Bank at Starke
Nevada: Battle Mountain
Battle Mountain State Bank
Kest Virginia: Elizabeth
Vdrt County Bank
West Virginia: New Martinsville
New Martinsville Bank
•
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
9-10-37
2-10-37
4-10-37
5-25-37
2894
1846
2'649
2455
1-29-37
1792
5
Number
ba
ci
1'
Location
Bank
Date approved or
disaperoved
Identifying number
approval
record
FOOTNOTE 2. - APPLICATIONS DISAPPROVED, REAPPLICATIONS APIJROVED
Minnesota:. Lake City
Union State Bank of
44,
Texas:
Miles
11
•
•
•
•
•
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Citizens State Bank
Admitted directly to Federd Reserve 85,6-tem
Disapproved
2-10-37
Approved
7-1S-37
Disapproved
6-26-37
Ap ,roved
1879
2578
2532
2605
Table 8. APPLICATIONS TO ESTABLISH OR haLOCATE BRANCHES ACTED (JPJN
BY THE FEDERAL DEPOSIT INSURANCE CORBORATION DURING 1957
INSURED BANKS NOT MEMBERS OF THE FEDERAL RESERVE MITE'
Total
Total applications approved
or disap)rove4
Opened
or reLoc•'ted
by Lec.31,
1938
.16
Awrovelt
Not
opened or
relocated
by Dec.,51,
1957
Plan to
operate
branch
abandoned
approved
ii
To establsish aaditional
121gUlail offices:
To establish 54 arm
branches .1'1
To convert head offices
into branches 1/
2
12 rcf4ace banks mith bran,
-;hes
,totc.1
To convert a-csorbed inured
ban- into branch
26
To convert absorbed noninsured banx into branch
4
To replace banks or branches
suspended or closed
4
6
4
•
5
•0
••
4
••
••
8
••
••
••
continue 9Per4tiOU Or
change lotion of branches in cr)kraticin To rEtain branches ,ireviously
()pet teu by absorbed or
succeeded insured banks 8
To change location of
branches
5
Tg
extend f1,111 banking ›owers
IEL branch formerly o,oerated as teller! vvindo
1
••
1
••
•0
••
••
1/ In 2 of these cases try, branched, thoagh unauthorised, were in ooeration at
the 'eginning of the year; in 1 case a charter was obtained for a new bank
and the ban immedi.-tely converted into a branch; and in 1 case a cooperative credit ass)ciation (not counted as a bank) T41173 converted into a branch.
Li
In theze cases head offices were -roved to new locations, and folmer head ofcraverted into branches.
1/ Two of these banks were head offices of small branch systems, the others were
unit bans.
• In 1 of these cases the location of the oro2osed branch was macle the bad
office instead of a brunch.
• In both of these cases the new locations were those of ban a which had been
abso-bed.
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
(L,L\
,of„tik
(..1A,Qic:tAkA
,c>
eisALauLd Qt-ta_Akti( t'&
- 30 - 37
'to
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
41,4
1a -I5_ 3?
jQvi-
c\ic.
Gkd t•-•
LIST TO SUPPORT TABLE 8
APPLICATIONS TO ESTABLISH OR RELOCATE BRANCHES ACTED UPON
BY THE FEDERAL DEPOSIT INSURANCE CORPOrLATION DURING 1937
INSURED BANKS NOT IiILIBERS OF THE FEDERAL RESERVE SYSTEM
Number
bank
changes
list
Banks
Location
Late approved or
disa,)oroved
Identifying nuaber
approval
reggEd
APPLICATIONS TO ESTABLISH ADDITIONAL BANKING OFFICES
To establish de novo branches:
g_p&aes_ci or relocated by Dec. 51, 1937
12-22-37
DeWitt Bank and Trust Company
Arkansas: DeWitt
Branch at Gillett 12-30-37
2-10-37
Arkansas: Heber Springs The Cleburne County Bank
Branch at Shirley 4-29-37
6-15-37
McGehee Bank
Arkansas: McGehee
Branch at Arkansas City 7-1-37 - Conversion of Arkansas City Bank
Exchange (Cooperative)
11-15-37
lonette State Bank
Arkansas: Monette
11-29-37
Caraway
Branch at
3-2-37
First State Bank
Arkansas: Plainview
Branch at Perryville 5-15-37
6-25-37
The Gary State Bank
Indiana: Gary
7-15-37
GmBroadway,
3804
at
Branch
4-29-37
The Indiana Trust Company
Indiana: Indianapolis
Indianapolis
6-15-37
St.,
Meridian
11
Branch at
So.
3-13-37
lo ;a Trust & Savings Bank
Iowa: Centerville
4-24-37
Branch at Moravia
10-6-37
Farmers State Savings Bank
Iowa: Independence
Branch at Lamont 11-1-57
4-19-37
Clarke County State Bank
Iowa: Osceola
Branch at Murray 4-30-37
6-25-37
Valley State Bank
Iowa: Rock Valley
Branch at Alvord 7-3-37
6-25-37
Valley State Bank
Iowa: Rock Valley
Branch at Doon 7-3-37
5-20-37
Farmers Trust and Savings Bank
Iowa: Spencer
Branch at hossie 5-24-E7
2-10-57
Ute State Bank
Iowa: Ute
Branch at Dow City 4-6-37
7-28-37
Citizens State Bank
Iowa: Wyoming
Branch at Oxford Junction 9-7-37
7-28-67
-ttngton State Bank
Louisiana: Washington
Branch at Arnandville 8
Commonwealth Commercial State Bank 4-29-37
Michigan: Detroit
Branch at Livcrnois & Ellsworth Sts., Detroit 4-29-37
6-15-57
Magnolia Bank 8-2-37
Mississippi: Jaagnolia
Branch at Osyka 8-2-37
2-17-67
Taylorsville The Smith County Bank
Branch at Mize 4-17-37
2-10-37
Lea County State Bank of
New Mexico: Lovington
Branch at Eunice 4-17-37
10-4-37
Company of
Union Tr
New York: Rochester
Branch at East Rochester 104-29-57
Branch Banking & Trust Company
North Carolina: Wilson
Branch at Faison 5-12-36
10-6-37
Citizens State Bank of
North Dakota: Lankin
Branch at Edmore 10-23-57
9-10-37
Walsh County State Bank
North Dakota: Grafton
Branch at Hoople 2-17-38
•
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
(4a)
3169
1847
2515
3092
1978
2534
2357
2025
3001(b)
2328
2555(a)
2535(b)
2449
1818
2635
2636
2390
2514
1889
1819
2994
2374
3002
2953(c)
2Number
bank
changes
li
Location
Identifying number
approval
record
Bank
APPLICATIONS TO ESTABLISH ADDITIONAL bANKING OFFICES - Continued
To establish de novo branches:
•
Opened or relocated loz Dec. 31, 1937 (55) - Cont.
North Dakota: Neche
8-21-37
Citizens State Bank
Branch at Pembina 9-7-37
10-4-37
North Dakota: Petersburg Citizens State Bank of
Branch at Dahlen 10-20-37
North Dakota: Sterling
State Bank of Burleigh County
10-27-37
Branch at Wing 12-1-37 - Formerly loffit Li-tate Bank, lkoffit
Ohio: Warren
7-16-37
The Union Savings & Trust Gompapy
Branch at Newton Falls 9-2-37
South Carolina: Johnston Ridge Banking Company
6-25-57
Branch at Ridge Spring 6-25-37 - Bank formerly The Bank of Ward, Ward
South Dakota: Platte
10-27-57
Farmers & Merchants Bank
Branch at Corsica 5-1-37
South Dakota: Yvatertown Farmers & ,derchants Banc of
1-9-37
Branch at Revillo 9-23-37
8-6-37
Utah: Milford
Milford State Bank
Branch at Beaver 12-9-37
Utah: Richfield
Richfield Commercial & Savings Bank 8-18-37
Branch at Delta 9-13-37
9-22-37
Virginia: Rustourg
Campbell County Bank
Branch at Brookneal 9-14-67 - Conversion of Citizens Bank of Brookneal
(newly organized)
5-25-37
Wisconsin: Mukwonago
Citizens Bank of Mukwonago
Branch at Big Bend 6-8-57
2-10-37
Farmers & Merchants State Bank
Wisconsin: I.aterloo
Branch at Marshall 2-2-57
To establish de novo branches:
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
2612
2536(b)
30,12
1715
2797
2814
2967
2459
1648
6-25-37
2533
12-7-37
3118
8-21-37
2848
9-10-37
2933(c)
11-15-37
3095
12-22-37
3120
12-22-37
3189
Plan to operate branch abandoned (2)
Garrison State Bank
North Dakota: Garrison
Branch at Max - Approval rescinded 11-19-37 ana 12-7-57
Garrison State Bank
North Dakota: Barrison
Branch at Ryder - Approval rescinded 11-19-67 and 12-7-37
•
5069(c)
San Francisco
To esta,)lish de novo bran, hes:
•
2980(a)
Not opened or relocated bv Dec. 51, 1937 (7)
The Hibernia Savings and
Loan Society
Branch at Filancial District, San Francisco
Decatur County State Bank
Iowa: Leon
Branch at Grand River 1-1-38
The Deerfield State Bank
Michigan: Deerfield
Branch at Britton
Walsh County State Bank
North Dakota: Grafton
•
Branch at Hoople 2-17-38
The Union Bank
Tennessee: Pulaski
Branch at Lynnville 1-8-38
Ettrick State Bank
Wisconsin: httrick
Branch at North Bend 1-19-38
Farmers State Bank
Wisconsin: Viola
Branch at ileaastown 2-21-38
California:
2849
10-18-37
3020(a)
10-18-37
5020(b)
-3
Number
bank
changes
Location
Date approved or
diaaporoved
Bank
Identifying number
ap,)roval
record
APPLICATIONS Ti.) ESTABLISH ADDITIONAL BRANCHES - Continued
To establish de novo branches:
Arkansas: Benton
Branch at Perry
Indiana: Mulberry
Lisaporoved (4)
Benton State Bank
2135
Farmers State Bank of i.dulberry
Not presented to
B/D
Branch at Colfax
North Dakota: Grafton
Walsh County State Bank
Branch at St. Thomas - application delayed as another bank has better
right to branch
Wisconsin: test Salem
Union State BanA of West Salem Not presented to
B/D
Branch at Mindoro - Request to hold over application 6 months denied
To convert head offices into branches:
111
•
6119
2953(d)
2958
Opened or relocated 12.y. Dec. q, 1957 (5)
North Dakota: Sterling
State Bank of Burleigh County
10-27-37
Branch at Moffit - Bank formerly Moffit State Bank, Moffit 12-1-37
Conversion of head office; head office moved to Sterling
Wisconsin: Pittsville
Peoples State Bank
9-10-37
Branch at Vesper 1
- Formerly Vcs er-Arpin State Bank, Vesper
Head office moved to Pittsville
Wisconsin: Winter
Chippewa Valley Bank
10-27-37
3ranch at Radisson 11-15-37 - new head office at Tinter
3069(b)
2898 (2h)
3046(b)
APPLICATIONS TO EEPLACE BANKS WITH BRANCHES
To convert absorbed insured bank into branch:
by Dec, 31, 1937 (18)
Opened or relocated
Connecticut: Bridgeport The Bridgeport-City Trust Company
7-9-37
2583
Branch at Fairfield 5-31-37 - Conversion of The Fairfield Trust Company
Iowa: Hampton
Hampton State Bank
8-5-37
2798
Branch at Latimer 8-:30-57 - Conversion of State Bank of Latimer, Latimer
Michigan: Constantine
The First Commercial Savings Bank
2-10-37
1849
Branch at White Pigeon 6-50-37 - Conversion of Farmers Savings Bank
Mississippi: Cleveland
The Cleveland State Bank
4-29-57
2367
Branch at Merigold 3-1-37 - Conversion of Merigold Bank
• North Carolina: North
Wilkesboro The Northwestern Bank
4-19-37
2650(c)
Branch at Bakersville 6-50-37 - Conversion of The Merchants and
Farmers Bank
North Carolina: North
Wilkesboro The Northwestern Bank
4-19-37
2350(d)
Branch at Boone 6-30-37 - Conversion of The tatauga County Bank
North Carolina: North
Wilkesboro The Northwestern Bank
4-19-37
2350(f)
Branch at Sparta 6-60-57 - Conversion of The Bank of Sparta
• North Carolina:Whiteville
Waccamaw Bank _ Trust Company
1-29-37
1617
Branch at Clarkton 4-8-37 - Conversion of Bank of Bladen
North Carolina: thiteville
Viaccamaw Bank & Trust Company
10-4-37
2995
Branch at Tabor City 10-3-37 - Conversion of Farmers and Merchants Bank
North Carolina: Whiteville
Waccamzw Bank & Trust Company
10-27-F7
304.6
Branch at Southport 12-6-57 - Conversion of Peoples United Bank
North Dakota: Grafton
Walsh County State Bank
9-10-37
2936(a)
Branch at Fordville 11-17-37 - Succession of exchange which was conversion
of Farmers & Merchants State Bank
•
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
4
Number
, bank
changes
Location
Bank
Date ap- Identifyproved or ing number
disapproved approval
record
APPLICATIONS TO REPLACE BANKS I.ITH BRANCHES - Continued
To convert absorbed insured oank into branch: L).D.pned or relocated
, 51, 1957 (16) - Continued
c.
.
12rny De
2955(b)
9-10-37
North Dakota: Grafton
Walsh County State Bank
Branch at Forest River 11-17-57 - Succession of exchange which was conversion
of Forest River State Bank
9-20-57
2938
North Dakota: Parshall
Peoples State Bank
Branch at Makoti 9-23-37 - Succession of exchange which was conversion of
Reservation State Bank
5094(a)
11-15-57
The fillard United Bank
Ohio: Willard
Branch at North Fairfield 12-15-37 - Conversion of The North Fairfield
Savings Bank Company
2725
7-51-37
Bank of Crockett
Tennessee: Bells
Exchange
Bank,
Gadsden
Branch at Gadsden 8-4:5-37 - Conversion of Peoples
Tennessee: PLurfreesboro The Murfreesboro Bank and Trust
2262(a)
Comparly
4-1-57
Branch at Christiana 9-14-37 - Conversion of Bank of Christiana
The Murfreesboro Bank and Trust
Tennessee: Murfreesboro
2282(b)
4-1-57
Company
Branch at Eagleville 9-14-37 - Conversion of Peoples Bank
3044
10-27-37
Farmers and htlerchants Bank
Wisconsin: Reedsburg
Branch at Loganville 11-27-37 - Conversion of Loganville State Bank
To convert absorbed insured bank into branch: Not 22gned or
relocated 12;i: Dec. 31, 1937 (6)
Security Bank and Trust Co.
Indiana: Vincennes
Branch at Edwardsport 1-3-58 - Lonversion of hdwardsport Bank
10-27-37
zens State Bank
nchigan: Big Rapids
Branch at Mecosta - Conversion of Mecosta County State Bank
12-22-57
Branch Banking & Trust Company
North Carolina: Wilson
Branch at Fremont 1-31-38 - Conversion of The Banx of Fremont
12-22-57
State Bank of Arcadia
Wisconsin: Arcadia
Branch at Dodge 6-2-38 - Conversion of First State Banx, Lodge
12-22-37
Boscobel State Bank
Wisconsin: Boscobel
Branch at Woodman - 1-24-38 - Conversion of 1%oodman 6tate Bank
12-7-37
Mondovi State Bank
Tisconsin: Mondovi
Branch at Gilnanton 1-17-58 - Conversion of Gilmanton State Bank
411 To convert absorbed insured bank into branch:
•
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
5047
3149
3191
6190
3157
Plan to p_perate branch abandoned (2)
10-27-57
Bank of America
California: San Francisco
Branch at 436 Fourteenth St., Oaxland 10-23-57 - This branch became
head office when bank moved to Oakland and changed title to
Central Banic of California
2-26-37
Mayville State Bank
Michigan: Mayville
Branch at Fostoria - Conversion of Fostoria btateApproval
rescinded 12-7-57
•
3201
5045a)
1927
lumber
bank
Location
Date approved or
disapproved
Bank
Icentify5ng number
adproval
0,C/record
To convert absorbed insured bank into branch: Opened or relocated hy
Dec. 31, 1937 (3)
Michigan: BliEsfield
The Jipson Carter State Bank
2020(b)
3-6-37
Branch at higa 8-5-37 Conversion of The Farmers & Merchants Bank of
Jipson Carter & Company, Private
Eichigan: Kinde
Kinde State Bank
3-2-37
1979
Branch at Caseville 8-6-37 - Replacing L. Hubbard & Co., noninsured private
which had previously paid off all of its deposits
Michigan: Scottville
The State Savings Bank of
1-9-57
1714(a)
Branch at Aalkerville 5-25-37 - Conversion of Security Bank of ivalkerville
noninsured private
To convert absorbed insured bank into branch:
Disapproved (1)
Indiana: Cambridge City The Peoples State Bank
10-6-37
Z000(b)
Branch at Economy - Conversion of Northern Wayne Bank, noninsured private
To reilgce banks or branchta suspended or el:aped:
relocated 12ai Dec 31, 1957 (4)
•
Arkansas: Warren
Merchants and Planters Bank
Branch at Hermitage 8-51-37
Iowa: Spencer
Farmers Trust & Savings Bank
Branch at Rossie 5-24-37
North Dakota: New Salem
Security State Bank of
Branch at Center 11-3-37
sconsin: Randolph
Dairyman's State Bank
Branch at Pardeeville 9-10-37
Opened or
8-18-37
2823
5-20-37
2449
10-18-37
6021
9-10-37
2932
APPLICATIONS TO CONTINUE OPERATION OR CHANGE LOCATION OF BRANCHES
IN OPhRATION
To retain branches orevioulk operated by absorbed or succeeded
insured banks: Opened 9/. relocated 121 Pec,..,1, 1937 (8)
•
•
411
California: Oakland
Central Bank of California
10-27-37
3045(b)
Branch at Fruitvale and E. 14th St., Oakland 10-23-37 - Formerly Bank
of America, San Francisco - Took over branch •r-.
Bank of Oakland
California: Oakland
Central Ban: of California
10-27-37
3045(c)
Branch at 4902 TelegraphOakland - Formerly Bank of America, San
Francisco - Took over branch of Central Bank of Oakland
Indiana: Culver
The State Exchange Bank
11-15-37
5107(b)
Branch at Argos 12-6-37 - Took over branch of State Exchange Bank
Iowa: Diagonal
First State Bank
10-27-37
3040(b)
Branch at Shannon City 11-24-37 - Took over unauthorized branch operated
since 1935 by First National Bank of Diagonal
North Carolina: North
Wilkesboro
The Northwestern Bank
4-19-57
2350(e)
Branch at Blowing hock 6-30-37 - Took over branch of The Aatauga County Bank,
Boone,
14orth Carolina: North
Ihilkesboro
The Northwestern Bank
4-19-57
2350(b)
Branch at Burnsville 6-30-37 - Took over branch of Merchants and Farmers Bank,
Bakersville
Virginia: Cape Chkrles
Northampton County Trust Bank
8-5-37
2796
Branch at Cheriton 5-2k-37 - Took over branch of karmers and Di:erchants
Trust Bank, Cape Charles
Wisconsin: Pittsville
Peoples State Bank
9-10-37
2898(2a)
Branch at Arpin 10-11-37 - Formerly Vesper-Arpin State Bank, Vesper Took over branch of Vesper-Arpin State Bank, Vesper
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
6
Locbtion
Bank
ii
To changp location of branches:
Date approved or
disapproved
Identifying number
approval
record
Opened or relocated 1.2y. Dec. 31, 1957 (2)
Alabama: Decatur
Tennessee Valley Bank
8-18-37
Branch at Collinsville 8-25-37 - Moving from Town Creek and conversion
of The First Na ional Bank
Alabama: Decatur
Tennessee Valley Bank
8-18-57
3ranch at Albertsville 8-12-37 - Conversion of First National Bank of
Albertville ana moving Vranch from Gurley
To changp location of branches:
2812
2813
Not o,pened or relocated 12y_ Dec. 31, 1957 (1)
Michigan: Detroit
Industial Morris Plan Bank
10-6-57
5005
. Branch at Grand River at Dundee, Detroit 1-31-58 - Changing location from
Grand River near Joy Road
APPLICATIONS TO ENTEND FULL BANKING POWERS TO BRANCH FOhMERLY
OPiRATED AS TELLER'S WINDOW (1)
•
Opened or relocated by Lec. 51, 1957 (1)
Louisiana: Minden
Peoples Bank & Trust Compapy
12-22-57
Branch at kpringhill 1-6-58 - Extensionof full banking powers to
operating teller'F, window
3188
FOOTNOTE 1
Branches thot;g11 unauthorized werein operation at the beRinniag of the year
South Dakota: Watertown Farmers & Lerchants Bank of Uatertown
Branch at Revillo 9-25-36
North Carolina: Wilson
Branch Banking & Trust Compapy
Branch at Faison 5-12-56
12-.7
3169
4-9-57
2674
Charter obtained for new bank ana pamc immedietelz converted into a branch (1)
Virginia: Rustburg
Campbell County Bank
9-22-57
Branch at Brookneal 9-14-37 - Conversion of Citizens Bank of Brookneal
2967
41, Cooperative credit association (not considered a bank) was converted into branch (1)
Arkansas: McGehee
McGehee Bank
6-15-37
Branch at Arkansas City 7-1-57 - Conversion of Arkansas City Bank
Exchange (cooperative)
2515
FOOTNOTE 3. HEAD OFFICES UF SMALL BRANCh SYSTEMS, THE OTHERS Width JNIT BANKS
North Carolina:
North Carolina:
III
North Wilkesborc
North Wilkesboro
4-19-57
4-19-37
2350 (c)
2550 (d)
FOOTNOTE 4. PROPOSED BRANCH MADE HEAD OFFICE INSTEAD
California: Oakland
Merger of Bank of America, San
•
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
10-27-27
Francisco, and Central Bank of Oakland
3045 (a):
SIZE OF CENTERS, AND NUYBIR OF BANKING OiFICES THEPRIN, IN WHICH THE
FUEAL DEPOSIT INSURANCE CORP3RATION APPNWED AND DISAPPROVED IN
1937 THE, 12TABLISHMENT OF ADDITIONAL BANKING OFFICES
(In no case
more than one additional office
approved in each center)
,F4s
Number of centers withPopulatiJr of center
A.
Total
number
of
centers
No
banking
office
1
banking
office
2
banking
offices
More than
2
banking
offices
1!
Additional offices approved ..b/ Corporation--
Total
90
60
3
3
11
23
10
9
5
16
Centers with population ofUnder 250
250 to 499
500 to 999
11
1,000 to 2,499
2,500 to 4,999
5,000 to 9,999
10,300 to 24,999
25,000 to 49,999
50,000 to 99,999
23
13
13
6
9
3
Of.
4011.
NO
3
AO
.1•11,
1
6
1
3
1
••••
100,000 and over
B.
1
1
8
Additional offices disof)proved 22 Corporation
Total
Centers with population ofUnder
250 to 499
500 to 999
1,000 to 2,499
2,500 to 4,999
5,000 to 9,999
10,000 to 24,999
25,000 to 49,999
50,000 to 99,999
100,000 and over
16
1
1
5
3
3
1
1
5
1
2
2
1
OW
1
1
1
1
1
1
.116
ON
Yoteq/ Cases approved by the Corporation but with such approval
rescinded later on account of the failure of the applicants to proceed with their plans cre included.
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Table IC APPLICATIONS FOP ',KIP-E.:LENTS OR REDUCTION OF CAPITAL
ACTED UPON BY THE FEDERAL DEPOSIT ,NSULANCE CORPORATION DURING 19:37
INSURED BANKS NOT 'AMBERS OF ThE FEDERAL EISERVE SYSTEM
Number of retiremer4s
or reductions 1/
Approvea/ Disapproved
Total
Amount of retirement
or‘rheduction
Ap,,rovedZi Disapproved
$18,501,327 $1,068,089
2 121
157
2,041
152
15,611,892
12
11
6
5
••
••
212,000
185,675
••
165.750)
••
147,200
••
75,000
••
1,078,00
••
677,400
Capital objj.Eptions held by the Reconstruction Einance Corporation
(including obligations held as
collateral for loans):
III
To retire
813,
Preferred stock and debentures not
held by_ the Reconstruction Finance
Corporation:
•
To
To
To
To
retire
convert into common stock
reduce and eliminate losses
reduce par value (but not reitrable
value)
254,100 `v
Common stock:
8
To reduce and disburse proceeds
To reduce or cancel, vith simultaneous
issue of new stock or debentures
To reduce capital stock bnd correct capital impairment, eliminate losses, or
1/27
increase reserves or surplus
To reduce capital stock, with concurrent issue and sale for cash of
new nreferred or common stock, to
correct capital impairment, eliminate losses, or increase reserves or
10
surplus
0
2/ Number of banks is less than number of retirements and reductions as some
41,hk:s ap:died to retire more than one class of canital obligations and some banks
nI.DHlied more than once during the year.
.?_/ Includes approvals conditional uRon the fulfillment by the applicant banks
of snecified conditions not always fulfilled during 1937.
/ Includes one reitrement of preferred stock having a book value of $1,400
but a retirable value of $35,500.
A/ Four of these reductions were accompanied
sessment.
411
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
cash contributions or stock
••
Ar,EMPTIOr OF UNINTIT7IT
Release of rf,stricted derlosits.
Under VI,' de omit insurane
law, insurance coverage is extended only to deposits mode available to
depositors in the repute!' course of 1-upiress.
Do sosite vhicn hpd Nen
restricted Ps to e.wyment since the Banking Holiday of 1933 are ireligible
for insure:nee, and their relseee must be approved by the Corporation in
order for them to become insured.
the epplicatilns of
During 19,7 the Corporation opproved
5 Insured benice to release $90,500 of reetrictd
4 19,800 were disapdeposits to thPir croners. 'Pio applications covering 4
proved.
In addition, n number of insured tanks requested the approval
of the Corporption for the payment of dividends on certificates of beneficial interest issued to former deositors who hnd wived part of their
deposit claims, or to nepey deposits which htd previously been valved.
During the year the Corporation approved such p,eyments in the case of
14 insured bank..
Assumption of deporits of noninsured banks.
Any rarrnption of
deposits of 8 noninsured bank by an insured bark requires the Approval
of the Federal Deposit Insurance Corporati,ln.
During 1917, the Corpora-
tion P!)proved 14 Roplidetione from insured bans for pernissi)n to assure
the deposits of noninsured banking institutions.
Nine of these noninsured
Institutions were repulArly operating eoTmercial banks, 2 c)f these beinr
.
3 banks opar-tinF under restrictions
private banks; the others included :
(1 e private bank), 1 rt-te bank not engaged in repuler bankinr and
holding no deposits except uninvestod trust funds, end 1 benk in voluntary
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Federal Reserve Bank of St. Louis
liquidation.
In addition, afAiumption of deposit liabilities took ascii
j!iring the year in two such cases which hnd previouely been
proved by
the Corporation. Those figures do not include assumption of deposit liabilities in the ens* of banks reorgani7ed under sew dorters et the time of
admission to insurance.
In four casts of assumption of deposit liabilities of noninsured
benks by nntionnl tsanks during 3.711 the approvni of the Corpomtion 'wed not
been given by the close of the yeer.
In two ceses of absorptIon of non-
ineur-d banks. by insured banks the approvnl of the Corporation wrs rot rec4uired, since in these casco only rerets of the absorbed bank were ,!ec:uired, their deposit liabilities being ri'!id off 11; ensh.
.1110
The Corporation ,
roved in owl cnse the assuzptior by en
insured bank of the liabilities end the acquisition of egrets of an
affiliated trqding corpony.
Assumption of deposits of insured banks by noninsured hanks.
noninvired banks
NO npplicntions rare received by the Corporatin
to esaume the deposit liabilities of insured banks.
In to cases, however,
nonineured banks ware organised for t'le lair2ose of succeeding to the
business of insured banks whieh ausi.ended or for (!onsolidating the business of an insured bank with a noninsured bank.
In these cases the
teoettorit of the insured banks were paid off by those betas, and since
no co!ltraet of assumption wns made the Corporation had no jurisdictiln
in the cases nnd its evroval
11A2
not required.
Assumption of derosits and change of location of insured banks.
The assumption of de -,os!t liabilities of one insured bank by anothr insured bank dos not require the approval of the Federal Deposit insurance
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Federal Reserve Bank of St. Louis
CorporAtion, but such assumptions in connection vith mergers or absorp—
tions involvinp insured banks not . ,mbers of the Federal Reserve System
rre frequently referred to the Corporation for epprovpl.
In four such
cases durinp 3_937 formn1 approval wrs given by the Corporation.
The deposit insurance ls. does not state explicitly the powers
of the Corporation with respect to uhanges in location of insured banks.
40wever, it is doubtful that en insured blank not n member of the Federial
Riflery* System could retsin its insured status if it ctinnged locati n
without the approval of the Corporation.
During 19,7 the Corporation
approvod changes in the location of 1, insured banks not members of the
Federal
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Federal Reserve Bank of St. Louis
ererve Eyetes.
One of these changes w/As not made, holvever.
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Federal Reserve Bank of St. Louis
L5:AT ThANSFERS, FL5.
FAilk, An BASK t4,iING6
Insured banks occasionally request the approval of the
federal revosit Insurance Corporation reg,Arding problez.s relating
to trunsfer of :,,ssets, reserve funds, an
earnings.
Lurlmt. 1.9E7
the Cor)oration u.iiroved, in one case, the tv.asfer of ast,ets of
non-evluation on the books of the bank to the stockholders in
prechecessor bank, one case of transfer of asaeta to the trustees
of depositors' claims on a predecessor baax in settlement of certain claims which arose in connection witL the succession, one
c se of the relese of a apecial contingent reverye fund previously established to guarantee aciouitors 44ulast loss on account of
funds redo ypaited in a suspended bank, wed 0120 Gas* to disregard
certain cto-rgc-offs in calculating net earnings.
The Corporation
disapproved one ap-,Jlication for „ism:lesion to retire a contingent
reserve fund, becfluse of the fuct that the bank already had a
deficiency in its capital structure.
•
LIST TO SUPPORT FIGURES IN SECTION OF
PART ONE ENTITLED "ASSUMPTION OF UNINSURED DEPOSITS"
4106mber
bank changes
list
Location
Name
Date
Number
approval
record
RESTRICTED DEPOSITS AND CERTIFICATES OF BENEFICIAL INTEREST
Applications for release of restricted deposits approved (5)
•
•
Illinois: Lavington
Amount $500
Hardware State Bank
9-22-37
2977
Kentucky: New Liberty
Amount $2,000
Citizens Bank
11-4-37
:089
Montana: Froid
Amount $60,000
First State Bank of
5-20-37
2442(b)
New Jersey: Califon
Amount $15,000
Hunterdon County Trust Co
1-9-37
1713
North Dakota: Fordville
Amount $13,000
The Farmers 8c, Merchants
State Bank
2-10-37
1874
Aulications for release of restricted deposits disapproved (2)
North Dakota: Minnewaukan Farmers State Bank of
Amount $791.89
5-5-37
207
South Dakota:
9-20-37
2939
Pollock
Pollock State Bank
Applications to reppl: waived deposits approved (7)
Mississippi: Leakesville
Amount 22,908
Bank of
Missouri: O'Fallon
Bank of
Amount $3,000 (requested approval of transfer
from undivided profit account to depositors'
waiver fund)
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
10-4-37
2991
7-9-37
2600
2
Amber
balWchanges
list
Location
Date
Name
Number
approval
record
Applications to repay waived deposits approved (7) - continued
•
6-25-37
2564
Bremerton Trust & Savings
WashinFton: Bremerton
Bank
(10%)
Amount $17,600
3-6-37
2019
Pioneer State Bank
Washington: Goldendale
Amount 43,300 (25%)
6-10-37
2490(b)
Naches State Bank
Washington: Naches
application was first
;14,883.32
(this
Amount
approved 1-18-37, then rescinded and reapproved 5-20-37)
5-20-37
2411
Citizens State Bank
Washington: Omak
(final)
$14,584.76
Amount
9-20-37
2965
New Jersey: New Brunswick
Amount $70,000 (5%)
•
New Brunswick Trust Co
Applications to repay or release certificates of
beneficial interest (6)
•
•
The Franklin Trust Company of
New Jersey: Paterson
Amount (to pay $80,000 dividend on common stock
in order that $68,500 may be distributed on
A certificates held by waiving depositors)
3-6-37
2018
The Bank of
New York: Cincinnatus
Amount $9,750 (5%)
3-25-37
2237
Ebenezer State Bank
New York: Ebenezer
Amount 473,352 (25%3
1-29-37
1788
Huguenot Trust Company
New York: New Rochelle
Amount (eliminate certificates of beneficial
interest of 41,208,957.73 by capital adjustment)
4-19-37
2326
State Bank of
New York: Victor
Amount $33,500 (20% final)
4-1-37
2249
The Waddington Bank
New York: Waddington
Amount $15,669.79 (10%)
7-15-37
2628
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
-3
lipmber
changes
ba
list
•
Location
Name
Date
Number
approval
record
DEPOSITS OF NONINSURED BANKS
Applications for assumption of deposit liabilities of noninsured
banks aaraved (14)
(a) To absorb regularly operating commercial banks (9)
Idaho: Boise
The Idaho First National
12-13-37
3078
To assume deposit
Bank of
liabilities of Wallace Bank &Trust Company, Wallace (noninsured)
•
Kansas: Wichita
The Union Stock Yards
1-28-37
To assume deposit
National Bank
liabilities of The State Bank of Kechi (noninsured)
1974
Michigan: Blissfield
The Jipson Carter State Bank 8-5-37
To assume deposit liabilities of The Farmers & Merchants
Bank of Jipson Carter & Company (private noninsured)
2020(a)
Missouri: Mexico
Mexico Savings Bank
9-25-37
To assume deposit liabilities of Citizens Bank, Benton City
(noninsured)
2978
New York: New York
Manufacturers Trust Company
To absorb Equitable Trust Company (noninsured)
6-7-37
2511
Oklahoma: Checorah
Peoples National Bank
To absorb Checota State Bank (noninsured)
2-1-37
1995
Pennsylvania: Minersville Minersville Safe Deposit Bank 5-21-37
To assume deposit liabilities of Vincengo Laudadio (private
noninsured)
2247
Washington: Seattle
Seattle-First National Bank
To absorb Bank of Commerce, Pasco (noninsured)
10-15-37
3023
Washington: Seattle
Seattle-First National Bank 11-10-37
To absorb Security State Bank, Spokane (noninsured)
3103
(b) To absorb banks operating under restrictions (3)
Michigan: Scottville
The State Savings Bank of
5-25-37
1714(b)
To assume deposit liabilities of Security Bank or Walkerville
(noninsured private)
Nevada: Reno
First National Bank of
5-1-37
To absorb Mason Valley Bank, Yerington (noninsured)
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Federal Reserve Bank of St. Louis
2281
4
41/Umber
bank changes
list
•
Location
Name
Date
Number
approval
record
DEPOSITS OF NONINSURED BANKS - continued
Applications for assumption of deposit liabilities of noninsured
banks approved (14) - continued
Oregon: Dufur
Johnston Brothers Bankers
6-18-36
3022
To assume deposit liabilities of Maupin State Bank (noninsured)
(c) To absorb State bank holding only uninvested trust funds (1)
Illinois: Springfield
The First National Bank of
12-22-37
To absorb First State Trust and Savings Bank (noninsured)
•
•
3184
(d) To absorb bank in liquidation (1)
Minnesota: Brainerd
First National Bank of
8-9-37
2486
To assume remaining deposit liabilities (603.77) of Princeton,
The First National Bank, (in vol. liquidation) in consideration of transfer of cash)
Applications for assumption of deposit liabilities of noninsured
banks approved prior to 1937, but effective in 1937 (2)
New York: North Java
North Java Company
12-22-36
Consolidated with 3 insured banks under title of Wyoming County
Bank &Trust Company, 1-2-37
Oregon: Fossil
Steiwer and Carpenter Bank
10-28-35
Absorbed by The First National Bank of Portland,
1-11-37 and operated as a branch
•
Applications for asslyaLion of ,deposit liabilities of noninsured
banks _b_y insured banks durim-, 1937, not approved 121:Federal
Deposit Insurance Corporation 12x close of year (4)
Michigan: Manistique
Manistique Bank
3-21-38
Consolidated with The First National Bank of Manistique under
charter of latter and title of The First National Bank of
Manistique, 12-24-37
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
5 ...
ban
ber
changes
list
•
Location
Name
Date
Number
approval
record
Applications for assumption of deposit liabilities of noninsured
banks a
l insured banks duriaa 1937, not approved lax Federal
Deposit Insurance Corporation 1.
Dx close of year, (4) - continued
Nevada: Ruth
Ruth Bank
Absorbed by The Ely National Bank, Ely, 4-21-37
No action
Oregon: Shaniko
Eastern Oregon Banking Co
No action
Absorbed by United States National Bank, Portland, 1-25-37
Texas: Chillicothe
The Bank of
1-6-38
Absorbed by The First National Bank of Chillicothe, 12-18-37
•
Absorptions or replacements of noninsured banks Ja insured banks
without assumption of ,deposit liability (2)
Kansas: Moscow
Moscow State Bank
Assets purchased, but no deposit liability assumed,
by Citizens State Bank, Hugoton (insured nonme:aber)
12-21-37
•
Michigan: Caseville
R. L. Hubbard & Co.
This private bank had paid off the deposit liability
prior to its absorption by the Kinde State Bank,
Kinde (insured nonmember) ?)-9-37
Assumption of liabilities of affiliated holdinu company aJproved (1)
New Jersey: Elizabeth
Elizabeth Trust Company
4-29-37
Liabilities assumed and assets acquired from Corpus
Holding Company, effective 7-6-37
•
Insured banks absorbed 122 noninsured banks without assumption of
liabilities (1)
Kansas: Sublette
The Santa Fe State Bank
In voluntary liquidation 10-16-37. However, this was one of
three banks owned by the same man. The other two - the
Copeland State Bank, Copeland, and the Satanta State Bank,
Satanta,- were taken over by a new bank at Sublette, under
the title of The Haskell County State Bank, 10-18-37
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
-6
Mother
bMiff changes
list
Location
Name
Date
Number
approval
record
INSURED BANKS REPLACED OR ABSORBED BY NONINSURED BANKS
•
Noninsured bank succeeding, suspended national bank (1)
Kentucky: Campbellsville The Taylor County Bank
Opened 8-30-37. The Taylor National Bank suspended 8-24-37.
There is apparently no direct connection between the two
banks, but some of the directors of the Taylor County
Bank have had business connections with the former President of the National Bank who is under numerous Federal
indictments. Taylor County Bank applied for admission
10-21-37. The bank was examined but no action had been
taken by the Corporation by the end of March 1938
111
ASSUMPTION OF DEPOSITS, AND CHANGE OF LOCATION, OF INSURED BANKS
Assumption of deposits of one insured bank la another approved
the 9orporation74)
Kentucky: Perryville
The Old Bank
To assume liabilities of Farmers Deposit Bank
•
3132
Nebraska ; Gothenburg
First State Bank
To absorb The Farmers State Bank, Gothenburg
4-15-37
2235(a)
Nebraska: Trenton
State Bank of Trenton
To absorb The Citizens State Bank, Trenton
6-8-37
2473
Washington: Seattle
Seattle Trust 8c, Savings Bank 5-8-37
To assume deposit liabilities of Tower Savings Bank
2347(a)
Change of location approved 12:the Corporation (13)
•
Georgia: Dublin
Farmers 8c, Merchants Bank
8-9-37
Former location and title: Brewton, Farmers & Merchants Bank
2516
Minnesota: Khrlstad
Karlstad State Bank
12-24-37
Former location and title: Strandquist, The State Bank of
2537
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Federal Reserve Bank of St. Louis
O
ther
bank changes
list
•
Location
Name
Date
Number
approval
record
ASSUMPTION OF DEPOSITS, AND CHANGE OF LOCATION, OF INSURED BANKS continued
Change of location approved 12:the Corporation (13) - continued
Minnesota: Oklee
Security State Bank of
9-4-37
Former Location and title: Lengby, Farmers State Bank of
2799
New York:
1993
New York
The Morris Plan Industrial
10-11-37
Bank of
Change location of head office from 33 W. 42nd St., to
60 E. 42nd St., New York City
North Dakota: Southwest Bank of
Fargo
Changed from Horace, Burrell State Bank
•
•
North Dakota:
4-8-37
State Bank of Burleigh
12-1-37
County
Former Location anetitle: Moffit, Moffit State Bank
Sterling
1996
3069(a)
Oklahoma: Allen
Farmers State Bank
9-9-37
Former Location and title: Clarita, Farmers State Bank
2850
Pennsylvania: Homer City Rossiter State Bank
Former location and title: Rossiter, Rossiter State Bank
2934
South Carolina: Johnston Ridge Banking Company
Former location and title: Ward, The Bank of
2536(a)
6-25-37
Virginia: Dillwyn
Buckingham County Bank
2851
7-31-37
Former location and title: Ore Bank, The State Bank of Arvonia, Inc.
West Virginia: Buckhannon The Adrian-Buckhannon Bank
Former location and title: Adrian, Bank of
•
4-26-37
2131
West Virginia: Franklin
Pendleton County Bank
3-27-37
1890
Former location and title: M-rlinton, Farmers & Merchants Bank of
West Virginia: Morgantown Farmers & Merchants Bank
10-4-37
2601
Former location and title: Reedsville, Farmers &, Merchants Bank
Wisconsin: Winter
Chippawa Valley Bank
11-15-37
Former location and title: Radiseon, Chippavea Valley Bank
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
3046(a)
•
LIST TO SUPPORT FIGURES IN SECTION OF PART ONE ENTITLED,
"BANK EARNINGS, RESERVE FUNDS, AND ASSET TRANSFERS"
Transfer of assets of non-evaluation on the books. of the bank to
the stockholders in predecessor bank
Kansas: Almena
Approved 10-4-37.
First State Bank
Approval record 3224
Transfer of assets to the trustees of deoositors' claims on a
oreuecessor bank in settlement of certain claims which arose
in connection with the succession
Bank of Brentwood
Pennsylvania: Brentwood
Approved 5-25-37. Approval record 2239
Release of a special contingent reserve fund previously established
to guarantee deoositors in a suspended predecessor
•
Louisiana:
Bank of St. Joseph aria Trust
Company
Approval record 2599
St. Joseph
Approved 7-9-37.
Disregard of certain eharge-offs in calculating pet earninga
West Virginia: Milton
Approved 10-27-37.
•
Baru of Alton
Approval record 3227
Retirement of a contingent reserve fund
Louisiana: Vivian
Disapproved 6-15-37.
•
•
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Bank of Vivian
roval record 2531
•
•
4.
Number of operating banks and branches
a.
b.
•
c.
d.
Table 12-14 and ttixt; explanatory note regarding classification of banks and banking offices; Tables 101-103
Supplementary table: banks admitted to insurance daring
List to support Table 14 ksection on admissions) and supplementary table: banks admitted to insurance during
1937
Lists to support Table 102 -- filed in binder entitled
Bank Changes 1936-37"
i. (hinges among banks by type
ii. Changes among branches by type
iii. Changes among branches and banks by States
•
•
•
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
e.
Lit to support lable 103 -- see binder entitled "List of
operating banks, Lecember 61, 1937"
DEPOSIT INSURANCE AND BANKING DEVELOPMENTS
31
SUMMARY OF BANKING DEVELOPMENTS
The continuous improvement in the banking system which has been
taking place since the banking holiday of 1933 put the banks in a
position to meet without difficulty any strain resulting from the rapid
decline in business activity and in national income during the latter
part of 1937. The quality of the assets was higher and the amount
of invested capital greater than in earlier years. Total assets were
appraised at approximately the value at which they were carried on
the banks' books and the proportion subject to criticism was smaller
than in any other recent year. The increase in capital in 1937 was
proportionately less than the increase in the average level of deposits
and the ratio of net capital account to deposits averaged slightly
lower in 1937 than in 1936. Net earnings of the banks were higher
than in any year since Federal insurance of deposits.
Although the banks as a whole were probably in a sounder condition than at any other comparable time during the post-war period,
some individual banks were in difficulty. They were chiefly banks
which had not been successfully rehabilitated after the banking
crisis of 1933. Their managements were unsatisfactory or poor,
their capital position was weak, their assets were of low quality, and
their earnings position inadequate. The Corporation is continuing
its efforts to correct these situations.
•
COMMERCIAL BANKING OFFICES
Number and types of commercial banking offices in operation. On December 31, 1937, 18,364 commercial banking offices
were in operation in the United States and possessions. Figures are
shown in Table 11. Of these offices, 13,958 were unit banks, that is
banks having but one place of business, 924 were head offices of
branch banking systems and 3,482 were branch offices of such systems.
Table 11. NUMBER AND TYPE OF OPERATING COMMERCIAL BANKING OFFICES
IN THE UNITED STATES AND POSSESSIONS,
DECEMBER 31, 1936, AND DECEMBER 31, 1937
Dec. 31,
1937
Banking offices—total
Banks—total
Unit banks
Banks operating branches
Branches—total
In possessions
In continental United States—total
Located in head office city
Located elsewhere in county
Located elsewhere in State
Located in other States
•
Dec. 31,
1936
Change
during
year
18,364
18,516
-152
14,882
13,958
924
15,151
14,257
894
-269
-299
+30
3,482
58
3,424
1,640
721
1,056
7
3,365
59
3,306
1,634
677
988
7
+117
-1
+118
+6
+44
+68
NOTE: More detailed figures relating to all commercial banks will be found in Tables 101-05,
pages 68-83, and in Table 108, page 90.
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
4
32
FEDERAL DEPOSIT INSURANCE CORPORATION
Changes in operating commercial banking offices during
1937. The total number of commercial banking offices was reduced
by 152 during the year. The number of banks in operation decreased
O y 269 while the number of branches increased by 117. The increase
in the number of branches reflected a continuation of the trend
toward branch banking which has been in existence since the beghUiinlnen
gnbahneeaks in he
of
caennodturyffi. The numberdof itgyco2m
eedmrucsii t yearbt, yw
ittinehdge
Stamtthebes
b
nu e
nukndin sy9sm9t
ali cr sed
147, or
from 23 to 24 percent of all banking offices in operation. In 1925
only 18 percent of all banking offices belonged to branch systems.
An analysis of changes in the number of operating commercial banks
and banking offices in the United States and possessions is presented
in Table 12.
•
Table 12. ANALYSIS OF CHANGES IN NUMBER OF OFFICES OF OPERATING
COMMERCIAL BANKS IN THE UNITED STATES AND POSSESSIONS DURING 1937
Total
offices
Net change during 1937
Banks and branches opened—total
Banks beginning operations and new branches opened
Trust company admitted to insurance
Banks
-152
-269
117
157
64
93
156
1
63
93
Banks converted into branches
Banks ceasing operations and briunches discontinued
—total
Suspensions'
Restricted banks placed in liquidation 2
Mergers and consolidations, excluding banks converted
into branches
Other liquidations
Branches otherwise discontinued
Branches
1
90
90
109
243
66
58
1
3
55
3
/04
81
63
/04
81
'Excludes 4 banks suspended and reopened or succeeded.
2Excludes 1 restricted bank which was succeeded.
NOTE: Italics indicate changes which decreased the number of banks or branches.
figures will be found in Table 102, page 70.
61
More detailed
PARTICIPATION BY COMMERCIAL BANKS IN DEPOSIT INSURANCE
Number of operating insured and noninsured commercial
banks and banking offices. On December 31, 1937, the Federal
Deposit Insurance Corporation was insuring deposits in 13,797
commercial banks operating 17,178 offices.' The number of insured
commercial banks in operation was reduced by 176, or 1.2 percent,
during the year, reflecting chiefly mergers and the conversion of unit
banks into branches. The total number of banking offices of insured
commercial banks was reduced by only 56 during the year. Notwithstanding the reduction in number, the proportion of operating
commercial banks insured by the Corporation increased from 92.2
percent at the beginning of the year to 92.7 percent at its close.
'In
addition, the Corporation was insuring deposits in 56 mutual savings banks. (See page 53).
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Federal Reserve Bank of St. Louis
•
33
PARTICIPATION IN DEPOSIT INSURANCE
Figures showing the number of banking offices insured and noninsured
at the beginning and close of 1937 are set forth in Table 13.
Table 13. NUMBER OF OPERATING INSURED AND NONINSURED COMMERCIAL
BANKING OFFICES IN THE UNITED STATES AND POSSESSIONS,
DECEMBER 31, 1936, AND DECEMBER 31, 1937
Number
Percent of total
Dec. 31,
1937
Dec. 31,
1936
Dec. 31,
1937
Dec. 31,
1936
18,364
17,178
1,186
18,516
17,234
1,282
100
94
6
100
93
7
Banks
Insured
Noninsured
14,882
13,797
1,085
15,151
13,973
1,178
81
76
5
82
76
6
Branches
Insured
Noninsured
3,482
3,381
101
3,365
3,261
104
19
18
1
18
17
1
Banking offices
Insured
Noninsured
cI
NOTE: More detailed figures will be found in Table 101, page 68.
•
Admissions to and terminations of insurance. During 1937
143 banks were admitted to insurance. Of these, 46 were new banks,
35 were previously operating or successors to noninsured banks,
61 were banks which succeeded insured banks or which withdrew from
the Federal Reserve System, and 1 was a trust company doing a
trust business exclusively.
Irallle 14. ADMISSIONS To AND TERMINATIONS OF INSURANCE DURING 1937
Not offset
Offset
by
by
terminations terminations
Total
Total number of admission
143
82
46
46
35
85
New banks
Operating banks admitted to insurance (including successors to noninsured banks)
Trust company not engaged in banking admitted to
insurance
Successors to insured banks
Banks withdrawing from Federal Reserve System
55
6
Total
Total number of terminations
Withdrawals from Federal Reserve System
Insurance terminated by FDIC
Banks ceasing operations—total
Suspensions
Insolvent banks absorbed or succeeded with aid of loans
by the FDIC
Other mergers, absorptions, and consolidations
Other liquidations.
Banks succeeded by other banks
319
55
6
Not offset
by
admissions
Offset
by
admissions
258
61
6
6
312
53
257
51
55
2
25
152
36
46
20
150
86
5
2
•
NOTE: More detailed figures will be found in Table 102, page 70.
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Federal Reserve Bank of St. Louis
61
46
34
FEDERAL DEPOSIT INSURANCE CORPORATION
The total number of terminations of insurance, excluding banks
succeeded by new insured banks, was 258. Of these, 51 were suspensions, 20 were mergers of insolvent banks with the financial aid of
this Corporation, 1 was a termination on account of continued unsafe
and unsound banking practices and violations of law, and the remainder were absorptions, consolidations, and liquidations. Details
are given in Table 14.
•
Deposits of operating commercial banks. During 1937
deposits of all commercial banks averaged $49.1 billion, of which
$47.6 billion, or 97 percent, were in insured banks.' Deposits declined by $2 billion from the beginning to the close of the year. The
decline was much smaller, however, than the increase of $5 billion
which occurred during 1936 and deposits averaged higher in 1937
than in 1936.
Table 15. CHANGES IN DEPOSITS DURING 1937
OPERATING INSURED AND NONINSURED COMMERCIAL BANKS
(Amounts in millions of dollars)
Amount
Dec. 31,
1937
All commercial banks—total
Insured banks—total
Demand deposits of individuals, partnership, and corporations
Time deposits of individuals, partnerships, and corporations
Deposits of States and their political
subdivisions
United States Government and postal
savings deposits
Deposits of other banks, cash letters of
credit, certified, officers', and travelers'
checks outstanding
Noninsured banks—total
Change during year
Dec. 31,
1936
Amount
Percent
48,623
50,840
-2,217
-4.4
47,191
49,258
-2,067
-4.2
22,106
23,419
-1,313
-5.6
13,960
13,454
+506
+3.8
3,256
3,263
-7
-.2
927
1,087
-160
-14.7
6,942
8,035
-1,093
-13.6
1,432
1,582
-150
-9.5
•
Changes in deposits of insured banks during the year were such as
probably to increase the proportion of deposits protected by insurance.
Interbank deposits and United States Government deposits, only a
small part of which are protected by insurance, decreased by more than
$1 billion, or 14 percent. Demand deposits of individuals, partnerships, and corporations, about 40 percent of which are estimated to be
protected by insurance, also declined by more than $1 billion. Time
deposits of individuals, partnerships, and corporations, on the other
hand, more than four-fifths of which are protected by insurance,
increased by $0.5 billion. The figures are shown in Table 15.
'Deposits of insured banks are averages of daily figures for the year; deposits of noninsured banks
are averages of figures for December 31, 1936, June 30, 1937, and December 31, 1937.
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Federal Reserve Bank of St. Louis
•
STATISTICS OF BANKS AND DEPOSIT INSURANCE
65
EXPLANATORY NOTE
•
Sources of Data
Except where otherwise noted all figures relating to operating insured banks
were obtained from the following sources: national banks and State banks in
the District of Columbia from the Comptroller of the Currency or the Board of
Governors of the Federal Reserve System; State banks members of the Federal
Reserve System from the Board of Governors of the Federal Reserve System; other
insured banks not members of the Federal Reserve System from the banks themselves or from the records of the Federal Deposit Insurance Corporation. Data
relating to noninsured banks were obtained from the Board of Governors of the
Federal Reserve System, Polk's Bankers Encyclopedia, Rand McNally Bankers
Directory, and State banking supervisory authorities.
For all classes of insured banks data relating to suspensions, receiverships, and
mergers with aid of loans from the Federal Deposit Insurance Corporation were
taken from the records of the Corporation.
Classification of Banks and Banking Offices
Insured banks include all banks insured by the Federal Deposit Insurance
Corporation; noninsured banks include all banks not so insured.
Commercial banks include the following categories of banks:
All operating national banks;
•
All incorporated State banks, trust companies, and bank and trust companies,
regularly engaged in the business of receiving deposits, whether demand or
time, except mutual savings banks and, in New Hampshire, guaranty savings
banks;
All stock savings banks, excluding guaranty savings banks in New
Hampshire;
Banks in conservatorship or operating under restrictions, provided they are
authorized to and in fact do accept new deposits, regardless of the character
of the restrictions imposed on the operations of the bank;
Such industrial and Morris Plan banks as operate under general banking
codes or operate under the same codes of law as insured industrial banks;
Branches of Foreign banks which engage in a general deposit business;
Cash depositories;
Private banks under State supervision, and such other private banks as
are reported by reliable unofficial sources to be engaged in deposit banking;
All insured trust companies, even though not engaged in regular deposit
banking;
Branches of American and foreign banks maintained in the possessions to
do a general deposit business. (Where more than one branch is maintained
by a given bank in any one possession the chief or central office is classified
as a bank and the other offices as branches)
•
Mutual savings banks include all banks operating under special State banking
codes applying to mutual savings banks, including all guaranty savings banks in
New Hampshire. The classification of mutual savings banks conforms with that
adopted by the Board of Governors of the Federal Reserve System except for one
bank classified as a mutual savings bank by that Board which is insured and classified
by the Federal Deposit Insurance Corporation as a commercial bank.
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Federal Reserve Bank of St. Louis
66
FEDERAL DEPOSIT INSURANCE CORPORATION
Branches include all offices, other than head offices, of banks operating more
than one office at which deposits are received or checks cashed, and all offices, other
than head offices, of insured trust companies not engaged in deposit banking.
The term branch is used in accordance with the definition in paragraph
subsection (c) of section 12B of the Federal Reserve Act, which is as follows:
"The term 'branch' includes any branch bank, branch office, branch
agency, additional office, or any branch place of business located in any
State of the United States or in Hawaii, Alaska, Puerto Rico, or the Virgin
Islands at which deposits are received or checks paid or money lent."
Figures for operating banks do not include institutions in the following categories,
though such institutions may perform many of the same functions as banks:
Banks which have suspended operations or have begun to close up their
affairs, which have ceased to accept new deposits and are proceeding to liquidate
their assets and pay off existing deposits, regardless of the amount of deposit
liability still remaining and regardless of whether they are listed among operating banks or included in abstracts of condon of banks published by
State banking authorities;
Building and loan associations, savings and loan associations, credit unions,
personal loan companies, and similar institutions, chartered under special
laws applying to such institutions or under general incorporations laws, regardless of whether such institutions are authorized to accept deposits from the
public or from their members and regardless of whether such institutions are
called "banks";
Noninsured Morris Plan companies, industrial banks, loan and investment
companies, and similar institutions, not operating under general State banking
codes, or under the same codes of law as similar institutions which have been
admitted to insurance;
Noninsured trust companies not engaged in receiving deposits from the
general public, regardless of whether they are listed among banks or included
in abstracts of condition of banks published by State banking authorities;
Branches of foreign banks, and of private banks, which confine their business
to foreign exchange dealings and do not receive "deposits" as that term is
commonly understood;
A few special institutions chartered under general banking laws, but operating
as mortgage or investment companies and not engaged in deposit banking;
Federal Reserve banks and other banks, such as the Savings and Loan Bank
of the State of New York, which operate as rediscount banks and do not accept
deposits from the general public.
Deposits of Banking Offices
Deposit figures which appear in asset and liability tables are as of the dates
indicated in the tables. Deposit figures for banks and banking offices which appear
in Tables 111 to 114, inclusive, and which are used for classifying banks by size
groups in Tables 104 to 107, inclusive, and in Table 109 consist of the following:
All insured banks. Average deposits during 1937 are averages of daily total
deposit liabilities as reported on certified statements for assessment purposes.
These deposit liabilities include, in addition to the usual deposits shown on the
condition statement, outstanding drafts and uninvested trust funds held in the
bank's own trust department, and exclude a portion of cashiers' and officers' checks
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Federal Reserve Bank of St. Louis
•
EXPLANATORY NOTE
•
67
outstanding. It is estimated that total deposit liabilities for assessment purposes
exceed total deposits as shown on the condition statement by less than 2 percent.
These figures are used for insured commercial and mutual savings banks, for
unit banks and for banks operating branches.
All offices of insured banks operating branches. Head offices and branches
of insured banks operating branches are classified in Tables 104 and 109 on
the basis of total deposit liabilities as of December 31, 1937, as submitted in a
special report by banks operating branches. Total deposits for each branch
system correspond to the deposit figure shown on the bank's condition statement.
Noninsured banks. Average deposits are averages of figures for December
31, 1936, June 30, 1937, and December 31, 1937. Figures for head offices and
branches of noninsured banks operating branches are not available separately.
Earnings, Expenses, and Disposition of Profits of Insured Banks
Figures relating to earnings of insured banks are presented in Tables 131 to 145,
inclusive.
Data relating to national banks and to State banks members of the Federal
Reserve System differ from those published by the Comptroller of the Currency
and the Board of Governors of the Federal Reserve System due to the inclusion
in this report under current operating expenses of all depreciation on banking house,
furniture and fixtures. Such depreciation is shown by the Comptroller of the Currency and the Board of Governors of the Federal Reserve System under losses
and charge-offs.
•
In the case of insured banks not members of the Federal Reserve System only
regularly recurring depreciation is included under current operating expenses;
extraordinary charge-offs of banking house, furniture and fixtures are included
with losses, charge-offs, and additions to valuation allowances.
The Banking Act of 1935 permitted the payment by insured banks of interest
on demand deposits of public authorities accruing before August 24, 1937, but
prohibited payment of such interest accruing after that date. Banks not members
of the Federal Reserve System were instructed to report interest paid on these
funds under the heading of "other current operating expenses". It is known that
many banks reported such payments as "interest on time and savings deposits".
As a result the decrease for 1937 in the amount of "interest on time and savings
deposits" in the face of an increase in the average amount of time deposits, is partly
attributable to this error in the method of reporting. It is believed that the amount
of interest on time deposits for 1936 is overstated by $1 to $1.5 million.
"Interest and discount on borrowings" and "interest paid on capital notes and
debentures" were not reported separately by insured mutual savings banks in 1935.
Since the combined figures consisted almost entirely of the latter item, they have
been presented under that category in Table 145.
•
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Federal Reserve Bank of St. Louis
68
FEDERAL DEPOSIT INSURANCE CORPORATION
NUMBER OF OPERATING BANKS
Table 101. NUMBER AND CLASSIFICATION OF OPERATING BANKING OFFICES,
DECEMBER 31, 1935, DECEMBER 31, 1936, AND DECEMBER 31, 19371
United States
including possessions
United States
excluding possessions
Dec. 31, Dec. 31, Dec.31, Dec. 31, Dec. 31, Dec.81,
1936
1935
1937
1935
1936
1937
ALL BANKING OFFICES
All banking
offices-total.
Insured
Noninsured
All banks-total
Insured
Noninsured
All branches-total
Insured
Noninsured
19,312
17,328
1,984
19,203
17,297
1,906
19,050
17,241
1,809
19,218
17,324
1,894
19,109
17,290
1,819
18,958
17,234
1,724
15,940
14,182
1,758
15,714
14,029
1,685
15,444
13,853
1,591
15,904
14,179
1,725
15,679
14,025
1,654
15,410
13,849
1,561
3,372
3,146
226
3,489
3,268
221
3,606
3,388
218
3,314
3,146
169
3,430
3,265
166
3,548
3,385
163
18,622
17,265
18,516
17,234
18,364
17,178
18,528
17,261
18,422
17,227
18,272
17,171
6,724
1 ,956
8,585
6,733
2,034
8,467
6,748
2,075
8,355
6,724
1 ,956
8,581
6,733
2,034
8,460
1,186
1,267
6,748
2,075
8,348
1,195
1,101
COMMERCIAL BANKING OFFICES
Banking offices
Insured
Members F. R. System: national
Members F. R. System: State
Not members F. R. System
Noninsured
1,357
Banks
Insured
Members F. R. System: national. . .
Members F. R. System: State
Not members F. I?. System
Noninsured
Insured
Members F. R. System: national
Members F. R. System: State. . .
Not members F. R. System
Noninsured
Insured
Members F. R. System: national..
Members F. R. System: State. . ..
Not members F. R. System
Noninsured
Insured
Members F. R. System: national.. ..
Members F. R. System: State
Not members F. R. System
Noninsured
15,338
14,123
15,116
13,969
14,848
13,793
5,386
1,001
7,739
5,325
1,051
7,597
5,260
1,081
7,456
5,386
1,001
7,736
5,325
1,051
7,593
5,260
1,081
7,452
banks
operating
Members F. R. System: national..
Members F. R. System: State. . ..
Not members F. R. System
1,178
1,085
1,215
1,147
14,257
13,119
13,958
12,912
14,494
13,310
14,233
13,117
13,935
12,910
5,198
856
7,258
5,128
898
7,093
5,064
922
6,926
1,138
1,046
5,198
856
7,256
5,128
898
7,091
5,064
922
6,924
856
814
894
854
924
885
844
813
883
852
913
883
188
145
481
197
153
504
196
159
530
188
145
480
197
153
502
196
159
528
40
39
1,184
31
1,116
31
1,025
30
3,248
3,139
3,365
3,261
3,482
3,381
3,190
3,138
3,306
3,258
3,424
3,378
1,338
955
846
1,408
983
870
1.488
994
899
104
101
1,338
955
845
1,408
983
867
1,488
994
896
4,104
3,953
4,259
4,115
1,526
1,100
1,327
1,605
1,136
1,374
151
144
62
48
4,406
4,266
4,034
3,951
4,189
4,110
4,337
4,261
1,684
1,153
1,429
1,526
1,100
1,325
1,605
1,136
1,369
1,684
1,153
1,424
140
83
79
•
1,055
14,518
13,312
109
Insured
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
14,882
13,797
42
Branches
Noninsured
15,151
13,973
1,206
Banks operating branches
All offices of
branches
15,374
14,126
1,248
Unit banks
1,282
46
76
•
NUMBER OF BANKING OFFICES
Table 101.
DECEMBER
69
NUMBER AND CLASSIFICATION OF OPERATING BANKING OFFICES,
31, 1935, DECEMBER 31, 1936, AND DECEMBER 31, 1937,—Continued
United States
including possessions
United States
excluding possessions
Dec.31, Dec.31, Dec. 31, Dec. 31, Dec. 31, Dec. 31,
1935
1936
1937
1935
1936
1937
MUTUAL SAVINGS BANKING OFFICES
Banking offices
Insured
Noninsured
690
63
627
687
63
624
686
63
623
690
63
627
687
63
624
686
63
623
Banks,
Insured
Noninsured
566
56
610
563
56
507
562
56
506
566
56
510
563
56
507
562
56
506
488
52
436
485
52
433
485
52
433
488
52
436
485
52
433
485
52
433
78
4
74
78
4
74
77
4
73
78
4
74
78
4
74
77
4
73
124
7
117
124
7
117
124
7
117
124
7
117
124
7
117
124
7
117
202
11
191
202
11
191
201
11
190
202
11
191
202
11
191
201
11
190
Unit banks
Insured
Noninsured
Banks operating branches
Insured
Noninsured
Branches
Insured
Noninsured
All offices of banks operating
branches
Insured
Noninsured
'For explanation of classification of banking offices see NOTE on page 65.
'Not members of the Federal Reserve System.
1
•
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Federal Reserve Bank of St. Louis
70
FEDERAL DEPOSIT INSURANCE CORPORATION
Table 102. ANALYSIS OF CHANGES IN NUMBER AND CLASSIFICATION OF
BANKING OFFICES IN THE UNITED STATES AND POSSESSIONS DURING 1937
•
Insured
Members F. R.
System
Total
Total
National
State
Not
Nonmembers insured
F. R.
System
COMMERCIAL BANKING OFFICES
Number of offices, December 31, 1937
Number of offices, December 31, 1936
Net change during year
18,364
18,516
17,178
17,234
6,748
6,733
2,075
2,034
8,355
8,467
1,186
1,282
-152
-56
+15
+41
-112
-96
Increase
Banks beginning operations
Branches opened for business. ...
246
63
183
228
46
182
92
7
85
18
1
17
118
38
80
18
17
1
Decrease
Banks ceasing operations
Branches discontinued
399
333
66
319
256
63
93
74
19
30
20
10
196
162
34
80
77
3
1
+33
+32
+1
-36
-35
-1
-1
+2
Trust company not engaged in
deposit banking admitted to
insurance
1
1
Changes in classification: noninsured to insured
Banks
Branches
+36
+35
+1
+3
+3
Changes in classifica tion: insured to noninsured
Banks
Branches
-2
-2
Changes in classification among
insured banks
Banks
Branches
-1
-1
+17
+3
+14
+49
+45
+4
-66
-48
-18
•
COMMERCIAL BANKS
Number of banks, December 31, 1937..
Number of banks, December 31, 1936...
Net change during year
Banks beginning operations
New banks'
Closed banks reopened
Banks ceasing operations
Suspended banks not reopened or
succeeded
Restricted banksplaced in receivership
Merged with aid of FDIC loans—net
decrease
Others mergers, consolidations, and
absorptions—net decrease
Other liquidations,
Trustcompanynotengaged in deposi t
banking admitted to F.R.System
Changes in classification: noninsured to insured
Insured State banks succeeding
noninsured banks,
Noninsured banks admitted to F. R.
System
Admitted to insurance:
Banks regularly operating at beginning of year
Banks formerly operating under
restrictions
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Federal Reserve Bank of St. Louis
14,882
15,151
13,797
13,973
5,260
5,325
1,081
1,051
7,456
7,597
1,085
1,178
-269
-176
-65
+30
-141
-93
63
62
1
46
46
7
7
1
1
38
38
17
16
1
333
256
74
20
162
77
55
3
50
2
2
46
6
3
20
20
7
1
12
174
81
160
36
67
8
14
3
79
25
24
46
1
1
1
+35
+3
+32
-35
+7
-7
+7
+3
-3
+3
+23
+23
-23
+2
+2
-2
•
71
NUMBER OF BANKING OFFICES
Table 102.
ANALYSIS OF CHANGES IN NUMBER AND CLASSIFICATION OF
BANKING OFFICES IN THE UNITED STATES AND POSSESSIONS DURING
1937—Cont'd
Insured
Members F. R.
System
Total
Total
National
State
Not
Non.
members insured
F. R.
System
COMMERCIAL BANKS—Contd.
Changes in classification: insured to noninsured
Noninsured bank succeeding national bank suspended .
Insurance terminated by FDIC.
-2
-1
-1
-1
-1
Changes in classification among
insured banks
National banks succeeding State
banks'
Insured State banks succeeding
national banks,
Insured banks admitted to F. R.
System
Withdrawals from F. R. System
with continuance of insurance.
Successions and reopenings not
involving changes in number
or class
Banks suspended and reopened,
Restricted bank placed in liquidation and succeeded
Successions not involving changes
in classification,
-1
+2
-1
+1
+1
+3
+45
+19
-7
-12
-16
+2
+14
+56
-56
-6
+6
-48
3
1
17
1
4
1
2
16
2
1
•
BRANCHES OF COMMERCIAL BANKS
Number of branches, December 31, 1937
Number of branches, December 31, 1936
Net change during year
Branches opened for business
New branches established,
Banks converted into branches as
result of mergers, consolidations,
and absorptions
Branches ceasing operations
Branches of banks suspended
Branches discontinued
3,482
3,365
3,381
3,261
1,488
1,408
994
983
899
870
101
104
+117
+120
+80
+11
+29
-3
183
93
182
92
85
29
80
67
1
1
90
90
56
11
23
66
3
63
63
3
60
19
10
19
10
34
3
31
Changes in classification: noninsured to insured
Branches of banks admitted to insurance
Changes in classification among
insured banks
Branches of State banks succeeding
national banks
Branches of national banks succeeding State banks
Branches of insured State banks
admitted to F. R. System
Branches transferred as result of
mergers, consolidations, or absorptions.
•
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Federal Reserve Bank of St. Louis
+1
-1
+1
+1
-1
+14
+4
-2
+2
+9
1
3
3
+1
+7
Changes not involving number or
classification
Branches transferred as result of
mergers, consolidations, or absorptions
17 ,
6
-18
-7
+11
-11
-2
-7
1
5
1
6
72
FEDERAL DEPOSIT INSURANCE CORPORATION
Table 102. ANALYSIS OF CHANGES IN NUMBER AND CLASSIFICATION OF
BANKING OFFICES IN THE UNITED STATES AND POSSESSIONS DURING 1937—Cont'd
•
Insured
Members F. R.
System
Total
Total
National
State
Not
Nonmembers insured
F. R.
System
MUTUAL SAVINGS BANKING
OFFICES
Number of offices, December 31, 1937...
Number of offices, December 31, 1936...
Net change during year
686
687
63
63
63
63
-1
623
624
-1
MUTUAL SAVINGS BANKS
Number of banks, December 31, 1937..
Number of banks, December 31, 1936...
Net change during year
Banks ceasing operations—absorbed
562
563
56
56
56
56
506
507
-1
-1
-1
-1
BRANCHES OF MUTUAL SAVINGS
BANKS
Number of branches, December 31, 1937
Number of branches, December 31, 1936
124
124
7
7
7
7
117
117
Net change during year
Branches :established
Branches discontinued
+3
-3
+3
-3
•
,Includes 3 noninsured banks opened prior to 1937 and 1 industrial bank formerly operating as a
Morris Plan Company which were not included in count of commercial banks at the beginning of the
year.
=Includes 10 noninsured banks which were placed in liquidation or which ceased to operate as banks
of deposit prior to 1937 but were included in count of commercial banks at the beginning of the year.
'Includes 3 private banks which were incorporated, I bank organized to take over 2 private banks,
1 bank which succeeded a bank operating under restrictions, and 2 other banks which reorganized under
new charters, at time of admission to insurance.
'Includes 1 case of a loan by FDIC to facilitate merger of an insolvent bank.
'Includes 1 case of a loan by FDIC to facilitate merger of an insolvent bank, and I newly chartered
bank resulting from consolidation.
'Includes I suspended insured bank reopened with the aid of a loan by FDIC.
7Includes 2 cases of FDIC loans to facilitate mergers of insolvent banks, 9 cases of renewals of
expiring charters, 1 newly chartered bank resulting from consolidation, and 8 other banks reorganized
under new charters.
"Includes 2 branches replacing cooperative banks (not previously included in count of commercial
banks), and 9 branches replacing banks which had suspended or had been placed in liquidation.
Bark figures—See the following Annual Reports: 1936, pp. 102-04; 1935, pp. 144-46; 1934, p. 177.
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Federal Reserve Bank of St. Louis
•
"MI
S
\Wow
•
Table 103.
•
NUMBER OF OPERATING BANKING OFFICES, DECEMBER
31, 1937
INSURED AND NONINSURED OFFICES GROUPED BY CLASS OF BANK AND TYPE OF OFFICE IN EACH STATE AND IN THE POSSESSIONS
Total
Insured banking offices
as percent of-
Corn- Mutual
I
All
erkcial savings
ban ing banking
Total Insured i iNon- banking m
nsured offices
offices offices
19,050 17,241
15,444 1 13,853
14,443 , 12,964
1,001
889
3,606
3,388
1,809 18,364 17,178
1,591 14,882 13,797
1,479 13,958 12,912
885
112
924
3,381
218
3,482
6,748
5,260
5,064
196
1,488
2,075
1,081
922
159
994
8,355
7,456
6,926
530
899
1,186
1,085
1,046
39
101
686
562
485
77
124
63
56
52
4
7
623
506
433
73
117
90.5
89.7
89.8
88.7
93.9
93.5
92.7
92.5
95.8
97.1
9.2
10.0
10.7
5.1
6.6
18,958 17,234
15,410 13,849
14,420 12,962
990
887
3,548
3,386
1,724 18,272 17,171
1,561 14,848 13,793
1,458 13,935 12,910
883
103
913
163
3,424
3,378
6,748
5,260
5,064
196
1,488
2,075
1,081
922
159
994
8,348
7,452
6,924
528
896
1,101
1,055
1,025
30
46
686
562
485
77
121
63
56
52
4
7
623
506
433
73
117
90.9
89.9
89.9
89.5
95.4
94.0
92.9
92.6
96.7
98.7
9.2
10.0
10.7
5.1
5.6
7
4
2
2
3
85
30
21
9
55
7.6
11.8
8.7
18.2
5.2
7.6
11.8
8.7
18.2
6.2
9
9
9
96.2
95.9
95.8
100.0
100.0
92
34
23
11
58
7
4
2
2
3
85
30
21
9
55
92
34
23
11
58
7
4
2
2
3
State
Alabama
All banks
Unit banks
Banks operating branches
Branches
238
217
214
3
21
229
208
205
3
21
9
9
9
238
217
214
3
21
229
208
205
3
21
72
66
65
1
6
17
16
15
140
126
125
1
14
96.2
95.9
95.8
100.0
100.0
Arizona
All banks
Unit banks
Banks operating branches
Branches
37
12
8
4
25
37
12
8
4
26
37
12
8
4
25
37
12
8
4
25
25
6
3
2
20
2
2
2
10
6
3
2
6
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
Arkansas
All banks
Unit banks
Banks operating branches
Branches
236
221
207
14
15
227
212
198
14
16
236
221
207
14
15
227
212
198
14
16
51
60
49
8
7
6
1
1
168
166
143
12
13
96.2
95.9
95.7
100.0
100.0
%.2
95.9
95.7
100.0
100.0
Possessions
All banks
Unit banks
Banks operating branches
Branches
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
9
9
9
1
1
1
1
9
9
9
'
Jo ziaawaisi
United States
All banks
Unit banks
Banks operating branches
Branches
Total
Insured
Members F. R. I Not
members. NonSystem
F. R. insured
National State System
SaDIdd0 DNINNVEE
,
Total , Insured . Noninsured
I
United States and possessions-total
All banks
Unit banks
Banks operating branches
Branches
Mutual savings banking
offices
Commercial banking offices
All banking offices
C.0
Table 103.
NUMBER OF OPERATING BANKING OFFICES, DECEMBER
31, 1937-Continued
INSURED AND NONINSURED OFFICES GROUPED BY CLASS OF BANK AND TYPE OF OFFICE IN EACH STATE AND IN THE POSSESSIONS
lured. Noninsured
Total
Insured
Members F. R. I Not
. . Non,members
insured
Total
National StateSystem
I CornAll 'm ei 1
Total Insured .Non- banking banking
insured offices
offices
California
All banks
Unit banks
Banks operating branches
Branches
1,067
213
177
36
864
1,059
206
171
35
853
8
7
6
1
1
1,067
213
177
36
854
1,059
206
171
35
853
784
103
93
10
681
148
14
7
7
134
127
89
71
18
38
8
7
6
1
1
99.3
96.7
96.6
97.2
99.9
99.3
96.7
96.6
97.2
99.9
Colorado
All banks
Unit banks
Banks operating branches
Branches
147
147
147
138
138
138
9
9
9
147
147
147
138
138
138
78
78
78
10
10
10
50
50
50
9
9
9
93.9
93.9
93.9
93.9
93.9
93.9
Connecticut
All banks
Unit banks
Banks operating branches
Branches
207
194
187
7
13
110
103
98
5
7
97
91
89
2
6
133
121
115
6
12
110
103
98
5
7
58
54
01
3
4
6
5
4
1
1
46
44
43
1
2
23
18
17
1
5
74
73
72
1
1
74
73
72
1
1
53.1
53.1
52.4
71.4
53.8
82.7
85.1
85.2
83.3
58.3
Delaware
All banks
Unit banks
Banks operating branches
Branches
62
48
4/
7
14
57
44
38
6
13
5
4
3
1
1
59
46
40
6
13
57
44
38
6
13
16
16
16
6
4
2
2
2
35
24
20
4
11
2
2
2
3
2
1
/
1
3
2
1
1
1
91.9
91.7
92.7
85.7
92.9
96.6
95.7
95.0
100.0
100.0
District of Columbia
All banks
Unit banks
Banks operating branches
Branches
52
22
11
11
30
52
22
11
11
30
52
22
11
11
30
52
22
11
11
30
26
9
4
5
17
9
4
2
2
5
17
9
5
4
8
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
Florida
All banks
Unit banks
Banks operating branches
Branches
163
161
160
I
2
158
158
158
163
161
160
158
168
158
53
53
53
4
4
4
101
101
101
96.9
98.1
98.8
96.9
98.1
98.8
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
5
3
2
1
2
1
2
5
3
2
1
Mutua
saving
r
banICini
offices
2
•
41111169m.
FEDERAL DEPOSIT INSURANCE CORPORATION
Total
Mutual savings banking Insured banking offices
offices
as percent of-
Commercial banking offices
All banking offices
-
•
•
287
264
255
9
23
69
54
51
3
15
28
23
20
3
5
190
187
184
3
3
85
82
80
2
3
77.2
76.3
76.1
81.8
88.5
77.2
76.3
76.1
81.8
88.5
83
62
46
6
31
81
50
44
6
31
36
20
16
4
16
23
10
9
1
13
22
20
19
2
2
2
97.6
96.2
95.7
100.0
100.0
97.6
96.2
95.7
100.0
100.0
856
856
856
16
16
16
872
872
872
856
856
856
314
314
314
74
74
74
468
468
468
16
16
16
98.2
98.2
98.2
98.2
98.2
98.2
575
619
484
35
56
542
487
453
34
55
33
32
3/
538
483
449
34
55
134
126
120
6
8
26
14
13
1
12
378
343
3/6
27
35
32
31
30
1
570
514
479
35
56
94.3
93.8
93.6
97.1
98.2
94.4
94.0
93.7
97.1
98.2
814
669
560
109
145
727
689
485
104
138
87
80
75
5
7
814
669
560
109
145
727
589
485
104
138
111
111
111
31
31
31
585
447
343
104
138
87
80
75
5
7
89.3
88.0
86.6
95.4
95.2
89.3
88.0
86.6
95.4
95.2
Kansas
All banks
Unit banks
Banks operating branches
Branches
691
691
691
457
457
457
234
234
234
691
691
691
457
457
457
186
186
186
17
17
17
254
254
254
234
234
234
66.1
66.1
66.1
66.1
66.1
66.1
Kentucky
All banks
Unit banks
Banks operating branches
Branches
453
424
1,10
1.4
29
408
379
365
14
29
45
45
45
453
424
410
11.
29
408
379
365
14
29
117
99
96
3
18
14
12
10
2
2
277
268
259
9
9
45
46
45
90.1
89.4
89.0
100.0
100.0
90.1
89.4
89.0
100.0
100.0
Louisiana
All banks
Unit banks
Banks operating branches
Branches
200
147
120
27
53
198
145
118
27
53
2
2
2
200
147
120
27
53
198
145
118
27
63
57
30
24
6
27
7
6
5
134
109
89
20
25
2
2
2
99.0
98.6
98.3
100.0
100.0
99.0
98.6
98.3
100.0
100.0
Georgia
All banks
Unit banks
Banks operating branches
Branches
372
846
335
11
26
287
264
255
9
23
85
82
80
2
3
Idaho
All banks
Unit banks
Banks operating branches
Branches
83
62
46
6
31
81
50
44
6
31
2
2
2
Illinois
All banks
Unit banks
Banks operating branches
Branches
872
872
872
Indiana
All banks
Unit banks
Banks operating branches
Branches
Iowa
All banks
Unit banks
Banks operating branches
Branches
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
•
372 I
346
335
11
26
1
1
2
1
5
4
4
4
80.0
80.0
80.0
SHOIdd0 ONDINVS dO IIRg14111N
•
CJ1
Table 103. NUMBER OF OPERATING BANKING OFFICES, DECEMBER 31, 1937-Continued
INSURED AND NONINSURED OFFICES GROUPED BY CLASS OF BANK AND TYPE OF OFFICE IN EACH STATE AND IN THE POSSESSIONS
Mutual savings banking Insured banking offices
All banking offices
Commercial banking offices
offices
as percent ofInsured
„
Com- Mutual
Members F. R. Not
Non- Total Insured Non- banking mercial savings
Total Insured i Non- Total
System
members
banking
nsured
ii' R. insured
insured offices offices banking
Total
offices
National State System
Maine
All banks
Unit banks
Banks operating branches
Branches
Maryland
All banks
Unit banks
Banks operating branches
Branches
Massachusetts
All banks
Unit banks
Banks operating branches
Branches
Michigan
All banks
Unit banks
Banks operating branches
Branches
Minnesota
All banks
Unit banks
Banks operating branches
Branches
Mississippi
All banks
Unit banks
Banks operating branches
Branches
Missouri
All banks
Unit banks
Banks operating branches
Branches
•
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
161
102
119
67
42
35
127
70
80
22
51
16
29
6
50
20
59
287
195
52
259
183
170
25
160
23
92
539
392
76
308
194
7
28
12
10
2
16
231
198
327
65
153
41
174
24
147
639
477
114
597
438
429
48
393
45
113
61
43
39
16
36
3
57
259
183
52
257
181
4
70
63
160
23
76
314
199
158
23
76
308
194
61
2
7
190
127
158
41
153
4/
109
18
33
42
39
115
639
477
114
597
438
36
3
429
48
393
45
31
5
4
26
55
11
5
6
44
66
29
15
/4
37
174
118
14
284
237
42
39
107
11
56
12
12
216
21
47
442
442
36
3
3
38
38
98.1
94.5
94.5
98.1
94.5
94.5
442
38
94.5
100.0
100.0
944
100.0
100.0
12
12
12
95.2
94.2
95.2
94.2
93.4
100.0
100.0
93.4
100.0
100.0
39
17
14
9
34
32
6
6
28
26
73.9
65.7
89.0
87.1
8
9
17.6
18.8
5
4
30
2
6
24
2
63.8
72.7
20.0
88.1
90.2
93.8
90.0
80.0
91.2
99.2
98.9
20.0
22
132
107
5
2
2
2
28
12
92
15
2
10
2
25
52
38
29
9
162
694
688
159
656
650
3
38
38
162
693
687
159
655
649
63
139
83
70
56
201
195
686
2
648
2
38
685
2
647
2
193
2
12
6
26
25
3
3
211
168
24
3
145
23
55
55
55
6
252
208
6
240
196
184
24
172
24
12
12
12
6
252
208
184
24
6'
240
196
172
24
44
650
650
44
607
607
43
43
44
650
650
44
607
607
650
607
86
86
43
650
607
86
•
6
5
5
1
16
225
193
2
26
10
8
2
16
225
193
94.1
92.0
82.6
57.0
49.5
98.8
100.0
169
24
169
24
46.9
62.1
96.8
100.0
32
2
2
2
32
77.0
93.4
91.8
91.6
93.8
Cra
7.1
16.7
100.0
98.1
97.5
99.1
93.4
91.8
91.6
93.8
43
466
466
43
43
466
93.4
93.4
93.4
93.4
43
93.4
93.4
100.0
100.0
100.0
•
A-
•
•
Nebraska............................
All banks............................
Unit banks
Banks operating branches
Branches
.
Nevada
All banks
Unit banks
Banks operating branches
..........
Branches
95.0
88.9
88.7
100.0
100.0
45
44
43
51.4
51.9
52.4
83.3
33.3
86.4
87.5
88.7
50.0
50.0
13
11
10
1
2
96.2
95.6
95.2
98.2
98.4
98.6
98.2
97.9
100.0
100.0
97.9
97.6
97.3
100.0
100.0
97.9
97.6
97.3
100.0
100.0
87.3
82.9
85.1
69.6
93.1
98.4
97.1
97.1
97.7
100.0
9
7
6
1
2
97.4
97.0
96.9
97.6
98.2
97.4
97.0
96.9
97.6
98.2
14
14
/4
93.0
92.5
92.0
100.0
100.0
93.0
92.5
92.0
100.0
100.0
58
58
58
433
431
429
375
373
371
2
2
138
136
134
2
2
12
12
12
225
226
225
19
8
6
2
11
1
1
1
20
9
7
11
19
8
6
2
11
16
5
3
2
11
54
52
50
2
2
66
64
6.2
57
56
55
1
1
3
3
2
1
53
52
51
1
1
20
18
17
496
376
32.4
52
120
261
229
212
17
32
117
54
31
23
63
118
93
81
12
25
46
40
.4r;
22
22
22
4
4
4
20
14
/0
1,383
745
659 '
86
638 ,
631
443
415
28
188
508
124
84
40
384
244
178
160
18
66
22
22
20
2
345
235
194
41 I
110
336
228
188
40 ,
108
49
43
4/
2
6
16
9
7
271
176
140
36
95
201
187
175
12
14
187
173
161
12
14
55
55
55
132
118
106
12
14
433
431 I
429
2
2
375
373
371
2
2
•
20
9
7
11
2
532
408
353
55
124 •
512
390
336
54
122
2
503
383
381
,52
120
47
41
37
4'
6
46
40
36
4
6
1
47
•11
.17
1,587
901
776
125
686
1,386
747
660
87
639
201
154
116
38
47
1,405
767
679
88
638
345
235
194
41
110
336
228
188
40
108
9
201
187
175
/2
14
187
173
161
12
14
14
14
/4
https://fraser.stlouisfed.org
Federal
Reserve Bank of St. Louis
0
95.0
88.9
85.7
100.0
100.0
48
48
48
New Jersey
All banks
Unit banks
Banks
Branches...................................
North Dakota
All banks
Unit banks
Banks operating branches
Branches
86.6
86.5
86.5
100.0
100.0
24
24
24
57
56
55
North Carolina
All banks
Unit banks
Banks operating branches
Branches
86.6
86.5
86.5
100.0
100.0
43
43
43
111
108
/o5
3
3
New York
All banks
Unit banks
Banks oeratin br
Branches..............................
100.0
100.0
100.0
115
116
115
115 '
115
115
New Hampshire
All banks
Unit banks ......
a
Banks
Branches..................................
New Mexico
All banks
Unit banks
Banks operating branches
Branches
100.0
100.0
100.0
115
115
115
115 '
115 :
115 .
1
58
58
58
3
8
3
9
8
7
45
44
43
7
7
7
29
25
22
3
4
1
16
14
12
2
2
6
6
2
7
182
134
97
37
48
3
2
1
179
132
96
36
47
55.2
56.0
54.5
66.7
50.0
1.6
1.5
1.0
2.7
2.1
S3OI330 ONDINVET 30 113EflAIIIN
Montana
All banks
Unit banks
Banks operating branches
Branches .
•
a
Banks operating branches
Branches
Oklahoma
All banks
Unit banks
Banks operating branches
Branches
Oregon
All banks
Unit banks
Banks operating branches
Branches
Pennsylva
All banks
Unit banks
Banks operating branches
Branches
Rhode Island
All banks
Unit banks
Banks operating branches
Branches
South Carolina
All banks
Unit banks
Banks operating branches
Branches
South Dakota
All banks
Unit banks
Banks operating branches
Branches
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
37
37
175
400
400
175
384
384
400
384
142
76
72
4
37
37
8
13
346
16
19
16
16
16
400
16
16
384
216
5
163
100.0
96.0
96.0
16
96.0
96.0
140
74
2
2
141
75
70
4
139
73
92
28
5
5
2
42
40
71
.4
69
4
2
2
1
1
26
2
5
1
1
98.6
97.4
38
2
98.6
97.3
2
100.0
100.0
1
1
97.2
100.0
100.0
20
7
2
2
18
5
100.0
96.0
97.1
97.2
100.0
2
1
4
97.5
87.8
97.6
95.6
66.7
1,053
49
66
1,167
1,068
1,027
43
64
738
697
119
78
26
6
2
310
293
1,050
45
1,025
43
31
27
678
19
65
13
282
11
25
2
99
44
16
17
28
16
10
6
10
6
103
61
23
99
44
16
12
11
10
6
41
20
12
9
3
41
21
2
2
17
3
2
1
1
4
17
7
2
5
40
173
150
28
134
111
12
39
39
38
173
150
143
7
28
134
111
104
7
8
35
20
19
5
4
39
1
94
87
143
7
10
39
39
104
7
19
1
3
1
82
5
39
22
100.0
23
163
163
66
1,198
1,095
172
9
97.2
100.0
117
5
5
49
32
23
203
181
97.2
100.0
35
216
216
66
1,169
1,070
20
12
3
175
384
384
66
1,218
1,102
116
72
32
1
175
400
400
23
202
180
171
9
22
1
1
1
23
203
181
I
172
9
22
23
202
180
171
9
11
22
15
64
47
1
21
21
7
117
112
43
4
21
107
5
17
6
1
1
1
31
4
13
11
9
8
1
2
100.0
97.4
97.5
13
11
9
85.3
61.1
50.0
96.1
72.1
69.6
8
1
50.0
50.0
83.3
54.5
2
I
100.0
96.0
96.0
70.0
77.5
74.0
73.7
77.5
74.0
72.7
100.0
72.7
100.0
100.0
99.5
99.4
99.4
100.0
100.0
10.0
28.6
100.0
99.5
99.4
99.4
100.0
100.0
•
00
NOLLV1100100 SDNV1If1S1s1I ,LISOdSG rIVIISCERd
Table 103. NUMBER OF OPERATING BANKING OFFICES, DECEMBER 31, 1937-Continued
INSURED AND NONINSURED OFFICES GROUPED BY CLASS OF BANK AND TYPE OF OFFICE IN EACH STATE AND
IN THE POSSESSIONS
Mutual
savings
banking
Insured banking ottices
All banking offices
Commercial banking offices
offices
as percent ofInsured
Corn- Mutual
Members
F.
Not
R.
I
NonAl mercial
NonNonsavings
Total Insured insured
Total Total
System
members
insured Total Insured insure. .anking banking banking
F.
R.
offices offices offices
National State System
Ohio
885
866
19
882
863
283
195
385
19
3
3
97.9
97.8 100.0
All banks
710
691
19
707
688
248
78
362
19
3
3
97.3
97.3 100.0
Unit banks
673
654
19
670
651
240
65
.
-,111,1141r,
Tennessee
All banks
Unit banks
Banks operating branches
Branches
Texas
All banks
Unit banks
Banks operating branches
355 'I
304
284 ,
20
51 I
884 '
884
884
347
296
8
276
20
8
51
793
793
793
91
91
91
355 '
347 'I
89
16
304
284
20
61
296
276
20
61
72
68
4
17
6
884
884
793'
793 1
793 ,
884
242
218
8
8
10
201
15
24
453
453
51
61
289
289
91
91
453
51
289
91
22
13
19
19
30
27
19
25
5
1
97.7
97.4
97.7
97.4
97.2
100.0
97.2
100.0
100.0
100.0
89.7
89.7
89.7
89.7
89.7
89.7
Branches
Unit banks.......................
n branches
Banks
Branches..............................
Vermont
All banks...........................
Unit banks
rain
Banks
branches
Branches... .........................
Virginia
All banks...........................
Unit banks
Banks operating branches
Branches
Washington
All banks
Unit banks
Banks operating branches
Branches
West Virginia
All banks
Unit banks
Banks operating branches
71
59
54
Unit banks
Banks operating branches
Branches
Wyoming
All banks
Unit banks
Banks operating branches
71
59
54
100.0
100.0
100.0
100.0
100.0
100.0
100.0
5
5
5
5
12
12
12
12
9
2
3
105
89
87
75
87
75
44
42
43
33
18
14
18
14
100.0
100.0
100.0
100.0
100.0
100.0
80
9
67
8
67
8
40
2
27
6
11
1
13
100.0
100.0
100.0
100.0
100.0
100.0
4
4
100.0
100.0
100.0
99.7
99.7
99.7
99.7
99.6
100.0
99.6
100.0
100.0
100.0
97.4
96.3
97.3
96.2
96.1
100.0
96.0
100.0
100.0
100.0
105
89
80
9
10
16
16
12
12
2
388
321
387
320
388
321
387
820
146
132
29
24
212
164
282
39
281
39
282
39
281
19
126
22
6
e
133
11
67
67
14
5
48
113
60
44
21
20
84
82
6
6
6
1
67
67
227
161
221
155
6
6
224
158
218
152
152
146
9
6
9
149
9
141
9
66
66
66
66
19
80
6
1
63
1
2
2
1
1
1
184
183
176
175
8
8
184
183
176
175
79
79
19
19
78
77
8
8
182
174
8
182
174
79
19
76
8
1
1
1
1
1
711
598
524
74
113
707
594
691
679
118
105
32
26
541
448
510
520
102
3
382
66
1
74
113
506
71
22
73
112
112
13
58
68
58
58
58
58
58
58
58
3
3
3
95.7
95.7
4
6
16
16
/4
4
4
4
4
4
4
95.7
95.7
95.6
100.0
100.0
100.0
97.7
97.7
97.6
100.0
100.0
97.3
98.6
100.0
93
100.0
100.0
100.0
100.0
100.0
100.0
58
58
26
26
9
9
23
23
26
9
21
100.0
100.0
/00.0
95.6
100.0
97.5
97.3
98.6
99.1
58
122-131.
Back figures-See the following Annual Reports: 1936, P. 105; 1935, pp.
3
3
3
1
1
16
15
/4
695
583
Branches
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
100.0
100.0
/00.0
10
3
Branches
Wisconsin
All banks
71
59
54
71
59
54
Sa31.1.40 DNINNVCI .40 tralWflisl
Utah
All banks...........................
99.1
CID
Table 104.
NUMBER OF OPERATING BANKING OFFICES, DECEMBER
31, 1937
00
INSURED AND NONINSURED OFFICES GROUPED BY CLASS OF BANK, TYPE OF OFFICE,
AND AMOUNT OF DEPOSITS
All banking offices
Mutual savings bankh
offices
Commercial banking offices
Insured
Insured
Total
Total
Members F. R.
System
National
otll banking offices
State
Not
members
FR.
System
Noninsured
Total
Insured
N(
inst red
I
19,050
17,241
1,809
18,364
17,178
6,748
2,075
8,355
1,186
686
63
23
Banking offices with deposits of-_i
$100,000 and under
$100,000 to $250,000
$250,000 to $500,000
1,108
3,203
3,769
785
2,876
3,594
323
327
175
1,107
3,199
3,762
785
2,874
3,591
35
422
1,160
11
97
232
739
2,355
2,199
322
325
171
1
4
7
2
1
2
4
$500,000 to $1,000,000
$1,000,000 to $2,000,000
$2,000,000 to $5,000,000
3,575
2,829
2,123
3,454
2,743
1,971
121
86
152
3,547
2,769
1,990
3,447
2,729
1,958
1,642
1,485
1,141
381
435
437
1,424
809
380
100
40
32
28
60
133
$5,000,000 to $10,000,000..773
$10,000,000 to $50,000,000
563
Over $50,000,000
122
None or not available
985
669
430
107
612
104
133
15
373
660
433
102
795
657
424
101
612
382
259
62
160
179
121
36
146
96
44
3
306
3
9
1
183
113
130
20
190
12
6
6
01
24
14
90
14,443
12,964
1,479
13,958
12,912
5,064
922
6,926
1,046
485
52
' 33
915
2,855
3,364
592
2,528
3,189
323
327
175
914
2,851
3,358
592
2,526
3,187
29
392
1,006
8
68
182
555
2,066
1,999
322
325
171
1
4
6
2
2
1
2
4
2,886
2,033
1,448
2,765
1,947
1.296
121
86
162
2,859
1,976
1,315
2,759
1,936
1,283
1,314
1,087
810
215
166
168
1,230
683
305
100
40
32
27
57
133
6
11
13
21
46
20
392
218
36
1
104
133
15
43
385
223
33
44
382
214
32
1
253
150
23
67
39
9
62
25
111
128
18
10
4
4
1
3
9
1
43
01
24
14
4,277
330
4,406
4,266
1,684
1,153
1,429
140
201
11
90
193
348
404
193
348
404
6
30
154
3
29
60
184
289
200
Unit banks
Banking offices with deposits of-.
$100,000 and under
$100,000 to $250,000
$250,000 to $500,000
$500,000 to $1,000,000
$1,000,000 to $2,000,000
$2,000,000 to $5,000,000
$5,000,000 to $10,000,000
$10,000,000 to $50,000,000
Over $50,000,000
None or not available
All offices of banks operating branches
Banking offices with deposits of-'
$100,000 and under
$100,000 to $250,000
$250,000 to $500,000
,
•
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
496
351
51
44 '
4,607
193
348
405 ,
193
348
405 i
•
a
7
14
13
21
46
120
1
•
FEDERAL DEPOSIT INSURANCE CORPORATION
li
Total
Noninsured
— 5 —
Table 7. BANKS ADMITTEL TO IN6JRANCE DOING 1967
Total
Members Federal
heserve 6Arstep
Not mptlbers
Federal he—
zve SY-stem 4j
NatiQual
Total, number of admissione 1/
141
nks beginning operations during
1937:
New banks without ,)redecessors
1
••
b&nks oprcting but not insured at
beginning of year:
hegularly o2erating uner general
baxala.a and admitted to IL—
surance without reorganization
Operating under restrictions and
reorganized under old charter
at time of admission to insurance
Private banks incorporated, banks
reorganized under new charters
at time of admission to insur—
ance, and other banks replacing
noninsured banks
Trust company not doing
but0116153
h
•.
5
2
••
••
7
•
•
••
1
S.
23
a-,
7
banking
Banks succeeding other insured banks
Banks withdrawing from Federal Re—
serve ystem and readmitted as
bzinks not members of that System
lf
26
515
.1
:
1
,‘Y
21i)
••
04
6
Of these 107 banks 99 _were approved for insurance during 1957 and 8
th5ing 1956.
reol
4).461
e
/Th
e
NOTE:
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
,44
44
Further details kill be fouled
'/?
? le 102, pp.
*sla*"
"
. 1414
'
414
OC•00 A
AL,fvt.-1...0
,
41:
" 414
LIST TO SUPPORT TABLE 7.
BANKS ADMITTED TO INSURANCE DURING 1937
Number
bank
chips
Bank
Location
Date Admitted
Identifying
number approval record
BANKS BEGINNING OPERATION DURING 12237:
NEW BANKS WITHOUT PREDECESSORS (4i)
National Banks (7)
Arkansas: Blytheville
Colorado: Golden
Florida: Fort Lauderdale
Illinois: Arlington Heights
s
Illinois: Berwyn
Indiana: Warsaw
New Jersey: Woodbridge
The First National Bank
The First National Bank
The Barnett National Bank
Arlington Heights
National Bank
The Berwyn National Bank
The First National Bank
Woodbridge National Bank
8-30-37
6-8-37
3-17-37
2-20-37
7-14-37
5-22-37
7-1-37
State Banks Members Federal Reserve System (1)
Michisan:
Grandville
Community State Bank
3-16-37
1953
8-21-37
11-9-37
1-20-37
7-1-37
11-10-37
10-5-37
4-8-37
2794
3014
1649*
2428
2966
2960
2820
5-19-37
2579
5-26-37
2389
3-1-37
3-15-37
3-1-37
1568*
2022
1952
2-15-37
8-2-37
5-15-37
12-15-37
9-7-37
6-5-37
4-15-37
8-7-37
10-18-37
8-7-37
8-16-37
6-1-37
9-11-37
8-21-37
10-19-37
1876
2552
2246
2895
2897
2491
2388
2695
1377
2578
2531
2448
2633
2795
2993
Banks Not Members Federal Reserve System (38)
411
•
•
•
First State Bank
Bank of Carbon Hill
Monette State Bank
Bank of Ozark
Wilmot State Bank
The Bank of Commerce
The Rio Grande County Bank
(Ins. 8-25-37)
Eaton
The
Eaton Bank
Colorado:
(Ins. 7-19-37)
Miami Industrial Bank
Florida: Miami
(Reorganization of Morris
Plan Co., not counted in
FDIC noninsured banks)
Umatilla State Bank
Florida: Umatilla
Florida Bank and Trust Co.
Florida: West Palm Beach
Citizens Bank of
Georgia: Americus
(Ins. 3-25-37)
Bank
of Thomas County
Thomasville
Geor,]ia:
Bank
of Benton
Benton
Illinois
The Bank of Herrin
He
Illinois
Illinois
The Bank of Marion
Marion
La Porte City Bank
Iowa: La Porte City
Security State Bank
Iowa: New Hampton
Iowa Trust and Savings Bank
Iowa: Oskaloosa
State Bank of Worthington
Iowa:
dorthington
Linnesota: Columbia Heishts Columbia HeiEhts State Bank
jannesota: Lake City
Union State Bank of
Minnesota: Redwood Falls
The State Bank of
Louisiana: Baton Rouge
Fidelity Bank and Trust Co.
Louisiana: Lafayette
Guaranty Bank and Trust Co.
]assouri: Chaffee
Bank of Chaffee
Lassouri: Chillicothe
Chillicothe State Bank
(Ins. 11-22-37)
Alabama: Carrollton
Alabama: Carbon Hill
Arkansas: Monette
Arkansas: Ozark
Arkansas: Wilmot
California: Oakland
Colorado: Del Norte
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
1Culimw
bir
changes
list
•
•
Date admitted
Location
,Bank
Identifying
number approval record
Banks Not Members Federal Reserve System (38) (Cont.)
...•••••
Nebraska: Madison
North Carolina: Raleigh
North Carolina: Kinston
North Carolina: Wilson
South Dakota: Belle Fourche
Texas: Arlington
Texas: Devine
Texas: Miles
Texas: Monahans
Texas: South San Antonio
Wisconsin: Marshfield
The Bank of Madison
Raleigh Industrial Bank
Kinston Industrial Bank
Wilson Industrial Bank
Bank of Belle Fourche
Arlington State Bank in
Medina Valley State Bank
Citizens State Bank
First State Bank
Union State Bank
Central State Bank
10-3-37
1-27-37
12-1-37
7-19-37
12-4-37
8-2-37
8-2-37
7-17-37
3-3-37
7-19-37
9-1-37
3012
1790
3013
2513
3080
2696
2608
2605
1887
2609
2822
BANKS OPERATING BUT NOT INSURED AT BEGINNING OF YEAR: REGULARLY OPERATING
UNDER BANKING LAWS AND ADMITTED TO INSURANCE WITHOUT REORGANIZATION (26)
State Banks Members Federal Reserve System (3)
Colorado: Brighton
Ohio: Toledo: The
Oklahoma: Atoka
The Brighton State Bank
The Morris Plan Bank of
The Atoka State Bank
9-14-37
1-29-37
7-2-37
-Banks Not Members Federal Reserve System (23)
•
411
Alabama: Bay Minette
Colorado: Monte Vista
Florida: Fort :yers
Indiana: 'West College
Corner
Kansas: Atwood
Kansas: Black Wolf
Kansas: Conway Springs
Kansas: Ransom
Kansas: Udall
Kentucky: Cumberland
Michigan: Cheboygan
Texas: Boyd
Texas: Coleman
Texas: Lytle
Texas: Spur
Texas: Gainesville
Texas: Muenster
Virginia: Danville
Jest Virginia: New Martinsville
South Carolina: Dillon
Wisconsin: Vesper
jashington: Waterville
Baldwin County Bank
Farmers and Merchants Bank
The :orris Plan Bank of
9-10-37
11-23-37
1-29-37
2894
2992
1632*
Farmers State Dank
State Bank of Atwood
Black Wolf State Bank
The State Bank of
The First State Bank
The Bank of Commerce
The Guaranty Deposit Bank
The Cheboygan State Savings
Bank
Continental State Bank
Coleman County State Bank
The Lytle State Bank
Spur Security Bank
The First State Bank
Muenster State Bank
Industrial Bank of
6-3-37
1-1-37
6-2-37
5-20-37
3-4-37
8-10-37
3-6-37
2451
1226*
2372
2426
1729
2632
1885
3-30-37
5-25-37
4-1-37
6-10-37
2-9-37
7-9-37
7-31-37
7-1-37
2110
2450
2245
2492
1791
2604
2697
2373
New Martinsville Bank
Anderson Bros.
Vesper-Arpin State Bank
Bank of Waterville
2-3-37
6-21-37
10-11-37
1-2-37
17922454
2398(a)
1652*
BANKS OPERATING BUT NOT INSURED AT BEGINNING OF YEAR: OPERATING UNDER
RESTRICTIONS AND REORGANIZED UNDER OLD CHARTER AT TEE OF ADMISSION TO
INSURANCE (2)
Banks Not Members Federal Reserve System (2)
Nevada: Battle Mountain
West Vn.: Elizabeth
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Battle Mountain State Bank
Wirt County Bank
5-1-37
6-7-37
2349
2455
- 'ber
7!n_es
Location
list
Date admitted
Bank
Identifying
number approval record
BANKS OPERATING BUT NOT INSURED AT BEGINNING OF YEAR: PRIVATE BANKS
INCORPORATED, BANKS REORGANIZED UNDER NEW CHARTERS AT TIME OF ADMISSION TO INSURANCE, AND OTHER BANKS REPLACING NONINSURED BANKS (7)
Banks Not Members Federal Reserve System:
Georgia: Fort Gaines
Indiana: La Fontaine
Ohio: Lynchburg
Private Banks Incorporated (3)
Fort Gaines Banking Company
La Fontaine Bank
The Farmers Exchange Bank
2-15-37
7-1-37
7-1-37
1925
2023
2134
Banks Not Iembers Federal Reserve System: Reorganized Under
New Charters At Time Of Admission To Insurance (4)
Florida:
III
Starke
Indiana: Cambridge City
Kansas: Galena
Kansas: Holton
Florida Bank at Starke
(Operating Under Restrictions
at beginning of year)
The Peoples State Bank of
Citizens State Tank of
The Kansas State Bank
3-9-37
1846
12-6-37
12-4-37
4-27-37
3000(a)
3090
2327
TRUST COMPANY NOT DOING A BANKING BUSINESS (1)
State Bank Member Federal Reserve System (1)
Illinois:
Chicago
Metropolitan Trust Company
11-29-37
BANKS SUCCEEDING OTHER INSURED BANKS (53)
•
National Banks Succeedinc National Banks (2)
Illinois:
Texas:
Grayville
Idssion
The Peoples National Dank
(FDIC Loan to predecessor
to facilitate merger)
First National Bank of
5-27-37
5-17-37
National Banks Succeeding State Banks Members Federal Reserve
Illinois:
Illinois:
Illinois:
Chicago
Chicago
Mundelein
Texas: Dallas
Texas: Greenville
Texas: Nacogdoches
Washington: Seattle
Merchandise National Tank of
The I-C National Bank of
First National Bank of
(FLIC Loan to predecessor
" to facilitate merger)
Dallas National Bank
Citizens National Lank of
Commercial National Bank in
Peoples National Bank
,istem
71
,
5-6-37
7-1-37
10-18-37
1-30-37
3-27-37
1-26-37
10-30-37
National Banks Succeeding State Banks Not Members Federal Reserve System,
Florida: Tampa
Illinois: Stillman Valley
•
Illinois:
Homewood
Illinois: Highland Park
Indiana: Hammond
Kansas: Fredonia
•
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
The Broadway 1:ational Bank of 7-1-37
The Stillman Valley. National
1-2-37
Bank (::oved
The Cook County National Bank 1-28-37
(7::oved to Homewood and changed name)
The First National Bank of
9-30-37
The Calumet Bational Bank of
4-30-37
First National Bank in
10-30-37
a
111
bank
changes
list
•
Location
Bank
Date admitted
Identifying
number approval record
National Banks Succeedinc, State Banks Not Members Federal Reserve System (12)
(continued)
Nebraska: Ogallala
Oklahoma: Claremore
Oklahoma: Frederick
Texas: Laredo
'Nest Virginia: Morgantown
The First National Bank in
The First National DAnk in
National Bank of
Union National Bank of
The First National Bank of
2-8-37
10-30-37
3-3-37
10.-30-37
11-16-37
State Banks Members Federal Reserve System Succeeding
National EsT177-77New Jersey:
•
New York:
Perth Amboy
Albany
First Bank and Trust Co.
(FBI„ loan to predecessor
bank to facilitate merger)
State Bank of
10-2-37
2-1-37
Banks Not F
rs Federal ReservealLEE
,Succeing, Natioilal Banks 41000)
•
Arkansas: Lake VillaF,e
Florida: Mariana
Florida: _von Park
Georgia: Blakely
Iowa: Diagonal
Minnesota: Minneota
'Minnesota: Jordan
North Dakota: Cando
North Dakota: Cavalier
North Dakota: Park River
Texas: Mabank
Texas: Be Kalb
Bank of Lake Village
The First Bank of
Barnett Bank of
First State Bank of
First State Bank
Farmers & Merchants State Bank
Northwestern State Bank of
The First State Bank of
Merchants & Farmers Bank of
The First State Bank of
Security State Bank
State B
of
10.-30..37
12-2-37
12-2-37
5-15-37
11..23-37
6-1-37
12-11-37
3-1-37
3-22-37
3-8-37
8-4-37
2-19..37
s--.2
2886
1633
3232
2429
3040(a)
2430
3106
3220
2024
1977
2634
1886
Succeedina State Banks Not Members Federal Reserve S,,stem (15)
•
•
Indiana:
Indiana:
Indiana:
Indiana:
Indiana:.
La Porte
La Porte Loan and Trust Co.
1-18-37
1651*
Oaklandon
The Oaklandon State Bank
2-23-37
1(24
Sullivan
Sullivan State Bank
8-2-37
2611
Veedersburg
Veedersburg State Bank
8-6-37
2721
Vest College
Corner
The Farmers State Bank
10-25-37
301e
Indiana: Jeffersonville
The Clark County 2auk
11-8-37
3015
Indiana: Plainville
Farmers State Bank
11-15-37
2610
Indiana: Culver
The State Exchange Bank
12-6-37
3107
Indiana: Linden
Linden State Bank
12-6-37
3079
(These nine banks in Indiana are renewals of expiring charters.)
Iowa: :ount rr
The Security State Bank
7-1-37
2565
Iowa: Storm Lake
The Coinmercial Trust and
Savings Bank
3017
10-25-37
Missouri: West Plains
West Plains Bank
5-1-37
1350*
(
,-FtTC-TUMff-ra-prudurezwerr-Texas: Garrison
Texas: Jasper
Virginia: Cape Charles
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Commercial State Bank
The First State Bank
Northam-ton County Trust Dank
(FDIC loan to predecessor
banks to facilitate merger)
2-18..37
11-1-37
5-22-37
1789
3077
2410
- 5 -
III_•-,_r
-hanges
Location
list
•
Bank
Date admitted
Identifying
number approval record
A Charter in Consolidation: Bank not Member Federal
Reserve System Succeeding National Bank (1)
North Dakota:
Buxton
First State Bank of
9-27-37
2582
New Charter in Consolidation: Bank Not Member Federal Reserve Systam, Suc,ceeding, Bank Not Member Federal Reserve System (1)
North Carolina:
North Wilkesboro
The Northwestern Bank
6-30-37
2350(a)
FROL: FEDERAL RESERVE SYSTEM AND READLIITTED AS BANKS
NOT MEMBERS FEDERAL RESERVE SYSTEM (6)
•
Alabama: Faunsdale
Alabama: Georgiana
Connecticut: SouthinL;ton
Georgia: Dawson
Minnesota: Sacred Heart
Minnesota: Wykoff
Watkins Banking Company
The Citizens Bank of
The Southington Bank and Trust
Bank of Dawson
Farmers & Merchants State Bank
First State Bank of
3-31-37
3-22-37
7-2-37
3-9-37
6-15-37
8-30-37
2200(a)
2109
2371
1875
2456
2847
FOOTNOTE 1 - BALKS APPluED FOR ADMISSION TO INSURANCE DURING 1936 (8)
(These banks are marked with astericks in the lists above)
Arkansas: Monette
• Florida: Fort Myers
Florida: Marianna
Florida: Umatilla
Indiana: La Porte
Kansas: Atwood
Missouri: West Plains
Washington: Waterville
•
•
•
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Monette State Bank
The Morris Plan Bank of
First Bank of
Umatilla State Bank
La Porte Loan and Trust Co.
State Bank of Atwood
West Plains Bank
Bank of Waterville
1-20-37
1-29-37
1-2-37
3-1-37
1-18-37
1-4-37
10-25-37
1-2-37
1649
1632
1633
1568
1651
1226
1350
1652
•
•
•
•
•
•
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
5.
Assets and liabilities of opera.ting banAs
a. Table 115 and 116
b. List to support Table 115: banks not included in summary
of assets and liabilities
•
Washington
Insured banks
Noninsured banks
Wisconsin
Insured banks
Noninsured banks
•
117,968
117,968
1,480
1,480
1,589
1,589
1,589
1,589
576,181
6,321
569,860
176,191
176,191
64,171
64,171
6,321
6,321
134
339
134
339
283
283
61,363
61,363
4,460
4,460
236
236
108,952
108,952
7,536
7,536
4,920
6,745
6,745
4,920
11,057
11,057
1,087
1,087
2,890
2,890
1,616
1,616
2,608
2,608
28,971
28,971
79,172
490,688
79.172
104,380
490,688
66,418
104,380
17,115
17,115
66,418
57,386
57,386
'Deposits of insured banks are averages of daily figures for the year; deposits of noninsured banks are averages of figures for December 31, 1936, June 30, 1937, and
December 31, 1937.
Back figures---See the following Annual Reports: 1936, page 132; 1935, page 164.
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
SaDM.30 DNINNVEI .30 SIISOdaoa
Ohio
Insured banks
Noninsured banks
Oregon
Insured banks
Noninsured banks
Pennsylvania
Insured banks
Noninsured banks
Rhode Island
Insured banks
Noninsured banks
Vermont
Insured banks
Noninsured banks
c.n
106
FEDERAL DEPOSIT INSURANCE CORPORATION
ASSETS AND LIABILITIES OF OPERATING BANKS
Table 115.
SUMMARY OF ASSETS AND LIABILITIES OF OPERATING COMMERCIAL
BANKS IN THE UNITED STATES AND POSSESSIONS, DECEMBER 31, 1936,
JUNE
30, 1937,
AND DECEMBER
•
31, 1937
(Amounts in millions of dollars)
1936
Dec. 31
1937
June 30
Dec. 31
All banks
ASSETS
Cash and amounts due from other banks.
United States Government obligations, direct and fully guaranteed.
Other securities
Loans, discounts, and overdrafts
Miscellaneous assets
Total assets
16,255
15,290
7,888
16,390
2,333
58,156
14,991
14,591
7,514
17,460
2,292
56,848
15,356
14,219
7,062
17,158
2,212
56,006
LIABILITIES AND CAPITAL
Total deposits
Miscellaneous liabilities
Total capital account.
Total liabilities and capital account
50,840
680
6,636
58,156
49,393
768
6,687
56,848
48,623
691
6,692
56,006
Number of banks:
Included in above figures
Not included in above figures.
Total operating
15,092
59
15,151
14,963
59 '
15,022
14,836
46
14,882
Insured banks
ASSETS
Cash and amounts due from other banks
United States Government obligations, direct and fully guaranteed
Other securities
Loans, discounts, and overdrafts
Miscellaneous assets
Total assets
15,731
14,749
7,558
15,940
2,218
56,196
14,540
13,965
7,214
17,015
2,158
54,892
14,931
13,669
6,807
16,718
2,096
54,221
LIABILITIES AND CAPITAL
Total deposits
Miscellaneous liabilities
Total capital account
Total liabilities and capital account
49,258
609
6,329
56,196
47,800
696
6,396
54,892
47,191
626
6,404
54,221
Number of banks:
Included in above figures
Not included in above figures,
Total operating
13,970
3
13,973
13,885
2
13,887
13,795
2
13,797
Noninsured banks
ASSETS
Cash and amounts due from other banks
United States Government obligations, direct and fully guaranteed.
Other securities
Loans, discounts, and overdrafts
Miscellaneous assets
Total assets
524
541
330
450
115
1,960
451
626
300
445
134
1,956
424
550
255
440
116
1,785
LIABILITIES AND CAPITAL
Total deposits
Miscellaneous liabilities
Total capital account
Total liabilities and capital account
1,582
71
307
1,960
1,593
72
291
1,956
1,432
65
288
1,785
Number of banks:
Included in above figures
Statements of assets and liabilities not available
Total onprntinc.
1,122
56
1 17R
1,078
57
1,041
44
1 1 RS
1 ARR
'On December 31, 1936,2 trust companies not engaged in deposit banking, and 1 bank not a member
of the Federal Reserve System from which a report was not received; on June 30 and December 31, 1937,
2 trust companies not engaged in deposit banking.
Back figures-See the following Annual Reports: 1936, p. 134; 1935, p. 170.
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
•
107
ASSETS AND LIABILITIES OF OPERATING BANKS
Table 116. SUMMARY OF ASSETS AND LIABITITIES OF OPERATING MUTUAL
SAVINGS BANKS IN THE UNITED STATES, DECEMBER 31, 1936,
JUNE 30, 1937, AND DECEMBER 31, 1937
(Amounts in millions of dollars)
1937
1936
Dec. 31
June 30
Dec. 31
All banks
ASSETS
Cash and amounts due from other banks
United States Government obligations, direct and fully guaranteed.
Other securities.
Loans, discounts, and overdrafts
Miscellaneous assets
Total assets
565
2,188
2,730
4,973
942
11,398
529
2,342
2,746
4,972
938
11,527
547
2,464
2,677
4,929
922
11,539
LIABILITIES AND CAPITAL
Total deposits
Miscellaneous liabilities
Total capital account
Total liabilities and capital account
10,061
19
1,318
11,398
10,163
24
1,340
11,527
10,173
22
1,344
11,539
563
562
562
Insured banks
ASSETS
Cash and amounts due from other banks.
direct and fully guaranteed.
obligations,
Government
United States
Other securities
overdrafts
and
Loans, discounts,
Miscellaneous assets
Total assets
70
237
262
469
94
1,132
69
252
247
470
101
1,139
72
250
246
472
101
1,141
LIABILITIES AND CAPITAL
Total deposits
Miscellaneous liabilities
Total capital account.
Total liabilities and capital account
998
3
131
1,132
1,002
4
133
1,139
1,004
3
134
1,141
56
56
56
495
1,951
2,468
4,504
848
10,266
460
2,090
2,499
4,502
837
10,388
475
2,214
2,431
4,457
821
10,398
LIABILITIES AND CAPITAL
9,063
Total deposits
16
Miscellaneous liabilities
1,187
Total capital account
0,266
nt..1
accou
capital
and
Total liabilities
9,161
20
1,207
10,388
9,169
19
1,210
10,398
507
506
506
Number of banks
Number of banks
Noninsured banks
ASSETS
Cash and amounts due from other banks
United States Government obligations, direct and fully guaranteed.
Other securities
Loans, discounts, and overdrafts
Miscellaneous assets
Total assets
Number of banks
Back figures-See the following Annual Reports: 1936, p. 135; 1935, p. 171.
•
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
=11=111,
Table 117. ASSETS
AND LIABILITIES OF OPERATING INSURED COMMERCIAL BANKS, CALL DATES,
JUNE 30, 1934, TO DECEMBER 31, 1937
(Amounts in thousands of dollars)
1934
Dec. 31
June 29
1936
Dec. 31
June 30
1937
Dec. 31
June 30
Dec. 31
18,896
14,187
14,175
14,123
14,059
13,970
13,885
13,795
622,749
3,819,410
(2)
792,674
4,081,565
(2)
705,488
4,933,277
(2)
869,626
5,573,212
38,008
915,988
5,607,119
35,951
917,310
6,571,694
36,545
844,197
6,896,663
26,435
789,519
7,005,209
26,263
ASSETS
Cash, balances with other banks, and cash items in process of
collection:
Coin and currency.
Reserve with Federal Reserve banks
Balances with private banks and American branches of foreign banks
Other demand balances with banks in the United States:
In New York City
Elsewhere
Other time balances with banks in the United States
Balances with banks in foreign countries
Cash items in process of collection
Total cash, balances with other banks, and cash items in
process of collection
1,302,378
2,23e,294
126,325
145,652
1,093,987
1,480,875
2,559,545
152,784
190,363
1,944,295
1,612,871
2,759,445
150,266
76,225
1,219,335
1,817,424
3,033,305
160,645
54,889
2,304,017
1,869,377
3,201,486
159,674
55,409
2,194,114
1,898,633
3,493,012
160,908
57,603
2,594,855
1,456,015
2,884,490
128,861
54,754
2,248,736
1,576,381
3,026,627
115,514
72,250
2,319,081
9,342,795
11,202,101
11,456,907
13,851,126
14,039,118
15,730,560
14,540,151
14,930,844
Direct obligations of the U. S. Government:
Bonds
Treasury notes
Treasury bills
Total direct obligations of the U. S. Government
5,210,244
3,046,894
1,450,838
9,707,976
5,069,132
4,401,740
1,032,187
10,503,059
4,889,004
4,476,099
1,104,669
10,469,772
4,369,967
6,603,462
1,195,007
11,168,436
5,816,750
5,428,167
1,270,127
12,515,044
6,724,308
4,755,941
1,055,211
12,535,460
6,386,378
4,637,033
826,756
11,850,167
6,336,291
4,567,777
668,723
11,572,791
235,942
61,585
3295,997
245,462
326,788
637,585
246,715
447,451
1,188,051
243,393
563,041
1,300,419
238,076
575,357
1,444,000
212,709
568,258
1,433,126
221,111
484,318
1,409,116
257,687
494,590
1,344,284
593,524
1,209,835
1,882,217
2,106,853
2,257,433
2,214,093
2,114,545
2,096,561
136,791
(4)
177,353
J
273,466 1
119,520
2,256,316
2,388,770
23,256
21,916
915,267
980,743
10,498
205,925
134,422
2,558,536
21,507
1,025,574
224,116
98,702
2,633,631
24,326
1,017,472
258,191
139,687
2,758,456
19,521
1,173,943
229,903
114,260
2,734,041
22,089
1,232,832
199,937
131,772
2,662,173
22,057
1,203,111
182,987
134,943
2,567,801
19,119
1,121,469
Obligations fully guaranteed
by the U. S. Government:
Reconstruction Finance Corporation
Federal Farm Mortgage Corporation
Home Owners' Loan Corporation
Total obligations fully guaranteed by the U. S.
Government
Other securities:
Obligations of:
Home Owners' Loan Corporation guaranteed as to interest only.. .
Federal Land banks
Federal Intermediate Credit banks
States and their political subdivisions
Territorial and insular possessions of the United States.
Railroads
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
•
A
FEDERAL DEPOSIT INSURANCE CORPORATION
June 30
Number of banks.
1935
•
LIST OF INSURED BANKS FOR WHICH ASSETS AND
LIABILITIES ARE NOT GIVEN IN TABLE 115
•
FOOTNOTE 1.
•
trust companies not enoged in deppsit banking:
Pennsylvania: Chester
Delaware County Trust Company
(Deceuber 31, 1936, June 30 and December 31, 1937)
Pennsylvania: Scranton
Scranton-Lackawanna Trust Company
(December 31, 1936, June 30 and December 31, 1937)
One bank from which report was not received, December 31, 1966
•
Mississippi:
•
•
•
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Manter
Bank of iiianter
LIST OF NONINSURED BANKS FOR WHICH ASSETS AND LIABILITIES
ARE NOT GIVEN IN TABLE 115
111
Statements not available
12-61-66 6-60-57 12-61-27
Location and name
Georgia:
Georgia:
Georgia:
Beorgia:
Georgia:
Georgia:
Georgia:
Georgia:
Geofgia:
Georgia:
Georgia:
Georgia:
Georgia:
gra:
Iowa:
Iowa:
Iowa:
Iowa:
Alamo
Colbert
Colquitt
Cuthbert
Doerun
Glennville
Ludowici
Midville
Parrott
Preston
Riverdale
Senoia
Sparta
Willacoochee
Winder
Bloomfield
Imogene
Kingsley
Lanyon
Lone hock
New Market
Michigan:
Michigqn:
Michigan:
igan:
Migan:
Michigan:
Michigan:
Michigan:
Michigan:
Michigan:
Michigan:
Michigan:
Michigan:
MI.(zhigan:
MiPhigan:
Michigan:
Alden
Bath
Caseville
Clayton
Falmouth
Glennie
Goodl.ich
Lawton
Owendale
Pickford
Prescott
Rhodes
Sanford
Sterling
Tower
Willis
Winn
•
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
J. F. Darby Bank
Beacham Banking Co.
Bailey Banking Company
DP,ViS Exchange Bank
Citizens Service Bank
Beasley Banking Company
Long Banking Company
The Peoples Bank
Pierce Exchange Bank
Bulloch Exchange Bank
Bank of Riverdale
Redwine Bros., Bankers
Stewart & Pound Bank
Perry & Williams Bank
Perry Bankine Company
Exchange Bank
Bank of Imoene
Oltman & Phelps Bank
Bank of Lanyon
Lone Rock Bank
Peoples Bank
Farmers & Merchants Bank
Peoples Bank
R. L. Hubbard & Co.
Exchange Bank of W. W. Cooke
Falmouth Bank
Glennie Bank of McNichol
Bank of Goodrich
Juan McKeyes & Company, Bankers
Owendale Bank of A. L. Vright
Bank of Pickford
Bank of Prescott
Rhodes Bank of W. S. Varty
Bank of Sanford of C. H. MacoMber
Sterling Bank
Peoples Bank of M. D. Myers
Willis Exchange Bank
Winn Banking Company
2-
•
Statements not available
12-Z1-Z6 6-30-Z7 12-31-'67
•rth Carolina:
,rth Carolina:
Pennsylvania:
Pennsylvania:
ennsylvania:
ennsylvania:
Pennsylvania:
Pennsylvania:
Pennsylvania:
Pennsylvania:
Pennsylvania:
Pennsylvania:
Pennsylvania:
Pennsylvania:
lif
Marion
Industrial Bank 1/
Norgantown
" 1/
Ambler
Girard
Leechburg
Minersville
Minersville
Philadelphia
Philadelphia
Philadelphia
Philadelphia
Philadelphia
Pine Grove
Republic
Texas: Bradshaw
Texas: Castroville
Texas: Chico
Texas: Chilton
Texas: Dalby Springs
411Pexa s: Galveston
Texas: Calveston
Texas: Hitchcock
Texas: Joshua
Texas: Leander
Texas: Leroy
Texas: New Baden
Texas: Rio Mediana
Texas: San Antonio
Texas: San Antonio
lipexas: Sugariand
exas: Zapata
Texas: Gordon
1./
.
V
First Italian Bank
R. S. Battles Bank
Anthony Favero
Banca Italians
Michael Bomuch
Brown Bros. Harldman & Company
Drexel & Company gj
The Marion Bank
E. J. Moore & Co.
U.S. Beneficial & Savings Assin.
Pine Grove Bank
First Foreign Exchange Bank
X
X
Bank of Bradshaw
L. M. Tondre & Sons
First Bank of Chico
Chilton Citizens Bank
Dalby Springs Eschange Bank
H. Kempner
W. L. Moody & Co.
H. L. Roberts & Company
Citizens Banking Company
Poole-Sherman Company
Leroy Bank
Paul Schultz Bank
Alex Boehme & Co.
American S:,vings
Bank
D. and A. Oppenheimer
Imperial Bank & Trust Company
Bank of Zapata
Gordon Banking & Mercantile Co.
Deposits reported as none.
These banks were deducted from nuMber of noninsured banks, but in error
were not excluded from those banks for which asset and liability items
were not available.
•
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
,
X
•
•
6. Bank suspensions
a. Tables 146, 147 and 149
b. List to support Table 146:
banks suspended 1934-37
S.a4ce:nic.‘
•
•
•
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
•
EARNINGS OF INSURED COMMERCIAL BANKS
163
Table 145. EARNINGS, EXPENSES, AND DISPOSITION OF PROFITS OF OPERATING
INSURED MUTUAL SAVINGS BANKS, CALENDAR YEARS 1935-1937
(Amounts in thousands of dollars)
'1935
Number of banks
1937
56
56
56
Current operating earnings:
Interest and discount on loans
Interest and dividends on securities
Commissions, fees, and collection, exchange, and service charges
Other current operating earnings
Gross current operating earnings
20,769
17,162
104
4,707
42,732
18,708
16,551
132
5,990
41,381
18,577
15,649
228
7,594
42,048
Current operating expenses:
Interest and discount on borrowings
Salaries, wages, and fees
Taxes (other than on income)
Other expenses of occupancy and maintenance of banking quarters
Other current operating expenses
Total current operating expenses
(2)
3,162
.3,049
4124
6.554
12,889
18
3,344
3,111
606
7,270
14,349
34
3,609
3,800
751
7,619
15,813
Net current operating earnings
29,843
27,032
26,235
2,467
(9
1,813
1,170
1,627
6,967
4,032
1,843
999
263
4,524
11,661
3,466
2.414
774
93
3,675
10,422
36,810
38,693
36,657
2,557
3,276
2,642
8,475
,656
3,101
6,604
11,361
4,782
7,089
3,765
15,636
28,335
Profits on assets sold or exchanged, recoveries and reductions
in valuation allowances:
Profits on securities sold or exchanged
Profits on other assets sold or exchanged
Recoveries and reductions in valuation allowances on loans
..
Recoveries and reductions in valuation allowances on securities
All other recoveries and reductions in valuation allowances
Total profits on assets sold, recoveries, etc
Net earnings, profits and recoveries on assets, etc.
Q
•
1936
Losses, charge-offs, and additions to valuation allowances:
On loans
On securities
All other losses, charge-offs, and additions to valuation allowances
Total losses, charge-offs, etc.
Net profits before income taxes and dividends
Income taxes, Federal and State
Net profits available for distribution to depositors and for
addition to capital funds
(6)
27,332
6
21,021
8
28,335
27,326
21,013
Interest and dividends paid depositors and•interest paid on
capital:
Interest and dividends paid depositors
Interest paid on capital notes and debentures
Total interest and dividends
22,132
297
22,429
19,607
479
20,086
19,262
407
19,669
5,906
7,240
1,344
Net profits after interest and dividends
'Figures were revised by the transfer of "depreciation on banking house, furniture and fixtures"
from the category of loss or charge-off to that of current operating expense; and by the transfer of
terest and discount on borrowings" from the category of current operating expense to that of interest
and dividends. See NOTE on page 65.
,Included with "interest paid on capital notes and debentures". See footnote 1.
.Includes "income taxes".
4"Depreciation on banking house, furniture and fixtures" only.
'Included with recoveries.
4Not available. See footnote 3.
https://fraser.stlouisfed.org
A
Federal Reserve Bank of St. Louis
SUSPENSIONS, RECEIVERSHIPS, AND MERGERS
Table 146.
NUMBER AND DEPOSITS OF BANKS SUSPENDING OPERATIONS,
1934-1937
GROUPED BY CLASS OF BANK, BY YEAR, BY AMOUNT OF DEPOSITS, AND BY STATE
Insured banks
Total
National
194
129
10
Calendar Year
1934
1935
1936
1937.
57
34
44
59
9
26
41
53
1
4
1
4
Banks with deposits of-,
$100,000 and under
$100,000 to $250,000
$250,000 to $500,000
81
57
31
53
40
17
1
1
3
$500,000 to $1,000,000
$1,000,000 to $2,000,000
$2,000,000 to $5,000,000
10
8
5
9
8
2
1
2
2
Inited States-total
$5,000,000 to $10,000,000
$10,000,000 to $50,000,000
Over $50,000,000
State
Arkansas
California
Connecticut
Georgia
Illinois
Indiana
Iowa
Kansas
Kentucky
Louisiana
•
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Not
members
F. R.
System
. I` on1' ured
'1.
.nks'
1,708
26,122
36,904
40
5,263
507
7,379
1,708
1,912
3,742
'10,313
10,155
34,985
847
592
480
3,022
6,706
5,867
40
194
903
365
2,982
6,512
4,599
1,601
2,551
5,013
6,151
'11,184
8,089
507
3,456
8,089
1,343
5,644
'6,385
Members F. R.
System
Not
members
F. R.
System
.N
"
insured
banks,
2
117
65
77,923
41,019
13,189
2
8
22
40
47
48
8
3
6
36,937
9,852
'11,412
19,722
1,952
9,005
'10,820
19,242
1
52
39
13
28
17
14
4,623
9,257
10,880
8
5
1
1
3
6,893
'11,184
17,970
2
17,116
Members F. R.
System
Total
State
2
1
1
1
6
5
1
1
1
5
3
1
5
3
25
4
6
10
3
10
2
3
10
3
1
•
•
10
1
3
9
3
Total
National
1
1
Total
1
2
15
2
3
State
742
9,881
17,116
157
84
1,050
726
987
157
157
1,050
692
846
1,050
692
846
5,032
4,013
468
2,806
1,654
2,953
3,749
238
2,806
1,654
84
3,594
1,474
2,953
155
238
1,332
1,654
FEDERAL DEPOSIT INSURANCE CORPORATION
Deposits (in thousands of dollars),
Number
Insured banks
34
141
,079
264
230
..
••
••
•
1
2
2
2
37
1
1
2
2
24
Montana
Nebraska
New Jersey
New York
North Dakota
2
4
13
3
7
2
1
5
1
7
Ohio
Oklahoma
Pennsylvania
South Carolina
South Dakota
5
4
4
2
9
2
3
3
1
9
Tennessee
Texas
Virginia
West Virginia
Wisconsin
7
11
4
6
10
2
1
8
1
12
1
1
2
2
24
1
1
1
13
1
2
3
1
3
8
2
7
1
2
1
1
669
107
155
153
6,599
669
59
155
153
3,661
94
469
25,591
9,041
467
94
194
3,477
1,982
467
4,824
313
1
3
1
1
8
3
1
1
1
32,964
572
6,996
305
1,175
.2,242
561
5,886
136
1,175
6
10
1
1
8
1
1
2
476
2,863
843
1,172
2,235
464
2,435
376
1,172
1,516
4
669
69
155
153
3,661
40
194
48
1,938
54
1,708
1,769
1,982
275
22,114
7,059
467
261
507
11,981
561
1,062
136
668
722
11
110
169
464
2,435
63
1,172
1,516
12
428
467
719
'Deposits of insured banks are as of date of suspension; deposits of noninsured banks are as of date of latest report prior to suspension.
,Excludes noninsured banks operating under restrictions or moratoria which were placed in receivership or liquidation.
.Revised.
NOTE: Figures for 1935 include 1 insured bank in Oklahoma, with deposits of $85,000, which was reopened as an insured bank. Figures for 1937 include 4 banks which
were not placed in receivership: 1 insured bank in Iowa, with deposits of $3,594,000, which was merged with the aid of a loan from the Federal Deposit Insurance Corporation
(See Table 154, page 180); 1 insured bank in Kentucky, with deposits of $206,000, which was reopened; 1 insured bank in Tennessee, with deposits of $122,000, which was taken
over by another bank and operated as a branch; and 1 noninsured bank in Missouri, with deposits of $45,000, which was reopened. Figures for 1937 also include 1 insured bank
in Maryland, with deposits of $669,000, which was not placed in receivership until 1938.
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
SUSPENSIONS, RECEIVERSHIPS AND MERGERS
Maryland
Michigan
Minnesota
Mississippi
Missouri
••
CJ1
Table 147. NUMBER AND DEPOSITS OF BANKS SUSPENDING OPERATIONS, 1937
GROUPED BY CLASS OF BANK, BY AMOUNT OF DEPOSITS, AND BY STATE
Number
Deposits (in thousands of dollarsr
Total
National
United States-total
Banks with dello:mita of-1
$100,000 and under
$100,000 to $250,000
$250,000 to $500,000
$500,000 to $1,000,000
$1,000,000 to $2,000,000
$2,000,000 to $5,000,000
Insured banks
Members F. R.
System
Total
State
Not
members
1'. FL
Systern
Noninsured
banks'
Total
Total
Members F.R.
System
National
State
Not
members
Noninsured
banks,
Systern
59
53
4
2
47
6
19,722
19,242
7,379
1,708
10,155
480
24
17
9
19
16
9
1,440
2,927
3,207
1,170
2,717
3,207
329
365
1,170
2,717
2,513
270
210
1
19
16
7
6
1
1
4
4
1
4
4
1
2
1
1
4
1
2,583
5,971
3,594
2,583
5,971
3,594
3,456
3,594
1,343
2,583
1,172
1
1
2
3
3
1
1
2
2
1
1
1
2
2
1
2
157
205
610
828
3,858
157
205
610
735
3,594
6
1
1
1
11
6
1
1
1
9
2
2,582
248
669
82
1,855
2,582
248
669
82
1,744
1
2
1
6
1
1
2
1
6
1
64
1,708
1,982
421
329
64
1,708
1,982
421
329
$5,000,000 to $10,000,000
$10,000,000 to $50,000,000
()ver $50,000,000
State
Arkansas
Georgia
Illinois
Indiana
Iowa
Kentucky
Louisiana
Maryland
Minnesota
Missouri
Montana
New Jersey
New York
North Dakota
Pennsylvania
•
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
1
1
6
1
1
1
9
1
2
1
6
1
•
•
157
205
610
735
3,594
1,474
1,108
248
669
82
1,744
93
264
111
54
1,708
1,982
421
329
•
FEDERAL DEPOSIT INSURANCE CORPORATION
Insured banks
•
•
•
•fr
South Dakota
Tennessee
Texas
Virginia
West Virginia
6
3
5
6
2
5
1
1
6
2
5
1
1
Wisconsin
2
2
2
1
534
322
1,879
63
1,172
634
310
1,879
63
1,172
634
310
1,879
63
1,172
164
164
164
12
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
SUSPENSIONS, RECEIVERSHIPS AND MERGERS
'Deposits of insured banks are as of date of suspension; deposits of noninsured banks are as of date of latest report prior to suspension.
,Excludes 4 noninsured banks operating under restrictions or moratoria which were placed in receivership or liquidation; 2 of these were incorporated banks with deposits
totaling $125,000, and 2 were private banks for which deposits are not available. One of these banks subsequently reopened.
See NOTE on page 164.
Bark figures—See the following Annual Reports: 1936, p. 192; 1935, p. 224.
Table 148.
NUMBER AND DEPOSITS OF INSURED BANKS MERGED WITH THE AID OF LOANS FROM THE
FEDERAL DEPOSIT INSURANCE CORPORATION, 1935-1937
GROUPED BY CLASS OF BANK, BY YEAR, BY AMOUNT OF DEPOSITS, AND BY STATE
Number
Total
Banks members F. R. Banks ni
System
member
F. R.
System
National
State
53
12
2
39
39,350
14,412
4,382
20,554
Calendar year
1935
1936
1937.
1
27
25
2
10
1
1
1
24
14
4,357
16,699
18,294
2,166
12,246
3,734
648
4,35'
10,79!
5,401
Banks with deposits of-'
$100,000 and under.
$100,000 to $250,000
$250,000 to $500,000
17
12
8
2
1
3
15
11
5
1,120
1,895
3,129
161
127
1,122
$500,000 to $1,000,000.
$1,000,000 to $2,000,000
$2,000,000 to $5,000,000
8
2
5
1
2
3
1
6
1
1
6,099
2,944
17,405
744
2,944
9,314
$6,000,000 to $10,000,000
$10,000,000 to $50,000,000
Over $50,000,000
1
1
6,758
State
Alabama..1
Illinois
4
Indiana
1
Iowa
1
Kansas
2
Kentucky
Massachusetts
Michigan
Missouri
Montana
1
1
3
10
1
New Jersey
New York
North Carolina
North Dakota
Oklahoma
4
1
1
10
2
•
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
•
•
1
1
3
1
1
2
1
1
1
1
1
10
1
2
1
1
1
1
1
10
1
428
893
983
3,594
146
235
809
12,222
1,823
83
6,413
1,214
162
2,168
686
95!
1,761
2,00'
648
4,70'
3,734
4,35'
6,751
428
258
63
983
3,594
14
1,729
3,734
235
809
6,759
1,823
648
361
FEDERAL DEPOSIT INSURANCE CORPORATION
Total
United States-total
Deposits (in thousands of dollars),
Banks members F. R. Banks not
System
members
F. R.
System
National
State
83
4,404
1,214
437
16
2,168
149
•
•
-.----
lOMINNIN
-
•
Pennsylvania
South Dakota
Tennessee
Texas
Virginia
2
1
2
1
1
Wisconsin
3
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
3
965
1
2,060
127
4,367
160
78
844
965
SUSPENSIONS, RECEIVERSHIPS AND MERGERS
1Deposits are as of date of examination prior to loan.
1
6,417
127
160
78
844
1
2
Table 149. INSURED BANKS PLACED IN RECEIVERSHIP, 1937
Class
Year of
of
organizabank,
tion
Name and location
Date of
suspension
Date of first payment
to depositors
by FDIC
Receiver
75
76
78
79
80
First International Bank, Noonan, North Dakota
Sterling State Bank, Sterling, North Dakota
Bank of Houghton, Houghton, South Dakota
Farmers Bank of Trenthn, Trenton, Missouri
Farmers State Bank, Corsica, South Dakota
C
C
C
C
C
1907
1908
1908
1928
1905
April 3, 1937
November 30, 1937
January 12, 1937
February 10, 1937
February 18, 1937
April 20, 1937
December 15, 1937
January 27, 1937
February 25, 1937
March 2, 1937
FDIC
FDIC
FDIC
State banking authority
FDIC
81
82
83
84
86
Akaska State Bank, Akaska, South Dakota.
The Citizens Sta te Bank of Lebanon, Lebanon, S. D.
Texas State Bank and Trust Company, Corpus Christi, Texas
First State Bank, Arlington, Texas
Rio State Bank, Rio, Illinois
C
C
C
C
C
1906
1910
1925
1915
1903
February 18, 1937
February 20, 1937
April 8, 1937
April 12, 1937
March 26, 1937
March 8, 1937
March 9, 1937
April 27, 1937
May 3, 1937
May 17, 1937
FDIC
FDIC
State banking authority
State banking authority
State banking authority
86
87
88
89
90
Bank of Eureka, Eureka, Missouri
The Citizens Bank, Bucklin, Missouri
St. Onge State Bank, St. Onge, South Dakota
Whitewood Banking Company, Whitewood, South Dakota
The State Bank of Marcellus, Marcellus, Michigan,
C
C
C
C
C
1904
1908
1906
1888
1927
April 23, 1937
May 1, 1937
April 30, 1937
April 29, 1937
June ,•37
May
May
May
May
June
State banking authority
State banking authority
FDIC
FDIC
FDIC
91
92
93
94
96
The Romney Bank, Romney, Indiana
Coloma State Bank, Coloma, Wisconsin
Union State Bank & Trust Company, Bryan, Texas.
Hardin Trust Company, Hardin, Missouri
Amite River Bank, Denham Springs, Louisiana
C
C
C
C
C
1901
1920
1934
1919
1932
June 15, 1937
June 14, 1937
June 16, 1937
June 18, 1937
June 23, 1937
August 24, 1937
June 29, 1937
June 29, 1937
June 30, 1937
July 12, 1937
State
State
State
State
banking authority
banking authority
banking authority
banking authority
FDIC
96
97
98
99
100
Ghent Deposit Bank, Ghent, Kentucky
First State Bank of South San Antonio, Texas
Bank of Sturgis, Sturgis, Kentucky
Chattooga County Bank, Summerville, Georgia
Farmers State Bank of Bainville, Bainville, Montana
C
C
C
C
C
1887
1917
1876
1905
1911
June 26, 1937
June 29, 1937
July 3, 1937
July 13, 1937
July 13, 1937
July
July
July
July
July
State
State
State
State
State
banking
banking
banking
banking
banking
101
102
103
I.
105
Farmers & Merchants Bank, Newbern, Tennessee
Peoples Bank of Bloxom, Inc., Bloxom, Virginia
The Taylor National Bank of Campbellsville, Kentucky
First Bank 8r Trust Company of Hamilton, Hamilton, Mo.
The Bank of Noel, Noel, Missouri
C
C
A
C
C
1900
1923
1912
1930
1934
July 17, 1937
July 19, 1937
June 30, 1937
July 24, 1937
August 11, 1937
August 4, 1937
July 28, 1937
August 30, 1937
August 9, 1937
August 26, 1937
State banking authority
State banking authority
FDIC
State banking authority
State banking authority
I.
107
108
109
110
The Fort Greene National Bank in N. Y., Brooklyn, N. Y.
Farmers Bank & Trust Co., Charles Town, West Virginia
The Bank of Galena, Galena, Missouri
Perth Amboy Trust Company, Perth Amboy, New Jersey.... ....
The Raritan Trust Company, Perth Amboy, New Jersey
A
C
C
B
B
1929
1917
1909
1902
1916
August 14, 1937
August 31, 1937
•
14, 1937
•Septmbr
October 2, 1937
October 2, 1937
August 19, 1937
September 14, 1937
September 24, 1937
October 4, 1937
October 4, 1937
FDIC
FDIC
State banking authority
State banking authority
State hankine authority
•
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
3, 1937
11, 1937
12, 1937
19, 1937
17, 1937
8, 1937
19, 1937
20, 1937
29, 1937
24, 1937
authority
authority
authority
authority
authority
.NIOIIVH0d110D aDNVIIRSNI IISOdal rIVIIMad
Designating
number
•
•
•
•
-
AMMON
•••••••••••■•••___
S
•
•
•
•
September 26, 1937
October 1, 1937
September 8, 1937
October 7, 1937
October 22, 1937
October 14, 1937
October 11, 1937
October 27, 1937
November 1, 1937
November 9, 1937
FDIC
State banking authority
State banking authority
State banking authority
FDIC
Farmers State Bank, Wyndmere, North Dakota
Farmers & Merchants Bank of Elgin, Elgin, North Dakota
First State Bank, Barbourville, Kentucky
Carter County Commercial Bank, Olive Hill, Kentucky
Bank of Swifton, Swifton, Arkansas
1910
1915
1923
1909
1905
October 23, 1937
October 30, 1937
October 29, 1937
October 30, 1937
November 19, 1937
November 6, 1937
November 10, 1937
November 12, 1937
November 11, 1937
December 9, 1937
FDIC
FDIC
State banking authority
State banking authority
State banking authority
First State Bank, Center, North Dakota.
Bank of Alba, Alba, Missouri
Commercial Bank & Trust Co., Union City, Indiana.
Nevada Trust Company, Nevada, Missouri.
Big Falls State Bank, Big Falls, Wisconsin
1924
1906
1930
1918
1918
November 1, 1937
November 1, 1937
November 4, 1937
December 2, 1937
December 17, 1937
November 26, 1937
November 16, 1937
November 18, 1937
December 16, 1937
December 30, 1937
State
State
State
State
Burt State Bank, Burt, North Dakota
Ringgold State Bank, Ringgold, Texas
Roanoke State Bank, Roanoke, Illinois
Farmers State Bank of Carlisle, Carlisle, Minnesota
The Nescopeck National Bank, Nescopeck, Pennsylvania
116
117
118
119
120
121
122
123
124
126
A
FDIC
banking authority
banking authority
banking authority
banking authority
,A-National bank member of the Federal Reserve System; B-State bank member of the Federal Reserve System; C-Bank not member of the Federal Reserve System.
2This bank was placed in voluntary liquidation, with the Federal Deposit Insurance Corporation acting as liquidating agent.
NOTE: The bank designated by number 77 was placed in receivership in 1936.
Back data-See the following Annual Reports: 1936, p. 193; 1936, p. 225.
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Federal Reserve Bank of St. Louis
SUSPENSIONS, RECEIVERSHIPS AND MERGERS
1912
1905
1913
1915
1922
111
112
113
114
115
Table 150.
Designating
number
ASSETS OF INSURED BANKS PLACED IN RECEIVERSHIP, 1934-1937
AS SHOWN BY BOOKS OF BANK AT DATE OF SUSPENSION
Total
assets
Name and location
.
Banking
Loans, dishouse,
Other real
counts, and furniture
estate
overdrafts and fixtures
Other
assets
$47,243,439 $6,592,597 $3,497,857 $5,046,917 $25,734,304 $1,485,115 $1,935,433 $2,951,216
Total, 1934 (9 banks)
Total, 1935 (24 banks)
Total, 1936 (42 banks)
Total, 1937 (50 banks)
2,661,327
185,056
12,323,948 1,974,181
'12,974,788 '2,194,712
19,283,376 2,238,648
603,519
273,638
698,440
510,479
'902,215 '1,955,104
1,293,683 2,307,696
1,329,865
6,842,116
'6,454,624
11,107,699
79,365
459,055
459,700
486,995
120,319
242,274
734,874
837,966
69,565
1,597,403
'273,559
1,010,689
1937
75
76
78
79
80
First International Bank, Noonan, North Dakota
Sterling State Bank, Sterling, North Dakota
Bank of Houghton, Houghton, South Dakota
Farmers Bank of Trenton, Trenton, Missouri.
Farmers State Bank, Corsica, South Dakota
192,156
120,849
81,508
335,388
204,543
21,168
14,426
20,606
51,163
70,919
850
2,300
2,000
62,301
18,350
2,429
32
311
1,280
14,000
129,308
89,869
49,673
210,929
84,970
5,679
5,050
5,065
3,500
9,500
32,164
8,876
1,489
4,785
2,800
558
296
2,364
1,430
4,004
81
82
83
84
85
Akaska State Bank, Akaska, South Dakota
The Citizens State Bank of Lebanon, Lebanon, S. D.
Texas State Bank and Trust Company, Corpus Christi, Texas...
First State Bank, Arlington, Texas
Rio State Bank, Rio, Illinois
92,404
153,512
627,866
718,781
384,412
8,905
7,567
213,487
178,519
15,811
1,500
5,003
41,625
8,400
2,957
4,127
998
187,318
4,625
69,501
108,321
340,371
270,365
301,576
4,600
8,600
7,801
4,750
6,700
2,371
21,220
21,242
11,552
2,570
3,677
38,964
24,652
47,300
86
87
88
89
90
Bank of Eureka, Eureka, Missouri
The Citizens Bank, Bucklin, Missouri
St. Onge State Bank, St. Onge, South Dakota
Whitewood Banking Company, Whitewood, South Dakota
The State Bank of Marcellus, Marcellus, Michigan
69,822
156,509
80,665
123,907
94,893
7,640
20,981
5,016
6,955
3,866
604
40,739
9,410
24,881
11,388
53,045
76,129
58,115
78,594
58,579
6,775
3,500
1,632
7,500
7,738
1,277
1,500
5,400
4,200
481
109
1,092
1,777
40
91
92
93
94
95
The Romney Bank, Romney, Indiana
Coloma State Bank, Coloma, Wisconsin
Union State Bank & Trust Company, Bryan, Texas
Hardin Trust Company, Hardin, Missouri
Amite River Bank, Denham Springs, Louisiana
64,010
94,380
359,112
259,316
307,811
1,058
5,122
30,047
31,688
44,349
725
32,976
23,100
52,561
90,400
27,422
43,855
46,969
32,559
192,643
164,873
166,269
500
2,500
6,000
4,500
14,988
3,500
7,546
36,993
15,483
913
3,546
187
1,357
Ghent Deposit Bank, Ghent, Kentucky
First State Bank of South San Antonio, Texas
Bank of Sturgis, Sturgis, Kentucky
Chattooga County Bank, Summerville, Georgia.
Varrnora Statp Flank of nainvilln_ RainvillP_ Montana
223,152
513,503
245,582
265,014
103 780 I
27,471
70,921
67,400
44,592
18.1i18
10,000
15,000
19,850
14,600
25,632
177,001
25,000
289
12.248
113,920
217,653
116,199
146,762
46.414
3,800
14,005
4,000
9,500
6.000
41,588
857
11,980
13,489
19 Rcift
741
18,066
1,153
35,782
1 nnn
96
97
98
99
100
•
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Federal Reserve Bank of St. Louis
•
•
13,551
13,282
FEDERAL DEPOSIT INSURANCE CORPORATION
Total, 1934-1937 (125 banks)
United
Cash and
States
Other
due from Government securities
banks
securities
END
•
•
•
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Federal Reserve Bank of St. Louis
•1
•
•
rr-
J\)
7.1.T
Lece..,ber 2,
;E:AUhANDUM
TO:
lir. Thompson
FEJkl
Clark Warburton
ABJECT:
Comtents on 1i37 Annual heoort
The following comzients on the 1937 Annual Report are taken
from notes prepared when reading final proofs of the eport. They
relate to inbonsistencies of style or terminology or to the use of
phrases which are likely to be used again in later reports.
Inconsistencies in style of tables
1. Latest date is soaietimes in the left-hand ana sothetimes
in the right-hand column -- compare Tables 16 and lo.
2. Indentation and use of oold-face type in stabs: In Table
14, page 53, lines with the same indentation but with the stubs and
figures partly in light-face and partly in bold-face type are added
together to .:,ate the total above. In Tables 101 and 106, however,
light-face and bold-face lines with the same indentation are not
to be
added. Indentation in all of these tables aiffers from that in Table
15. My own ?reference is for the style used in Table 13 as coaipared
with that used in Tables 101 and 136. In Table 14, it ,:iight be desirable to ?lace the line "Banks ceasing operations - total" in lightface and the lines below this in italics, thus following the same style
as in Table 101.
5. Indentation of run-over lines: Table 101 all run-over
lines are indented rilore than aro' sub-stubs in the same group. In
Table 2., however, the indentation pi run-over lines is the same as
tnat of sub-stabs in the sarhe group. I prefer the stile in Table 102.
4. In Table 7, page 21., there is some space between the footnote and the NOTE. In Table 12, page 3Z, and most other tables where
the same situation occurs, then) is no such space. In my opinion the
space should always be present.
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Federal Reserve Bank of St. Louis
d=1=11•11
IlZemoranclam to Mr. Thompson - pge 2
u. Table 108 refers Jolly to continental United States with
in the seca f)tnote regarding the possessions while all other tables
ions.
possess
include
tion relating to the number of b-nding offices
6. Tables recapitulating aata for several successive ;ears
d table
are soaltimes laced before and so,,etimes after the more detaile
and
1152
and
1Z1
Tables
with
cowpare Tables 124 and 145
for 137
Tables 146 anu 147.
7. In some groups of tales totals are 2laced above the
the totals.
it(,ms told in some groups of tables below the iteAs -akiag up
_H_IsE comments on stile. of tales
.Jt)
1. In Tables 115 and 116 single rules running across the
page are used for two quite uifferent purposes: first, to separate
fi,ures showin+. the number of bands included in the statements of
e
.,;sets and liabilities from those statements; and second, to separat
bands
insured
bands,
all
is,
the major divisions of the tables (that
and noninsured bands) from each other. Louble rules or heavy lines
should be usea for the latter purpose.
2. In most of the asset and liability tables a 6-point boldfor which
face lower case type is useu for stubs subordinate to those
order
this
116
and
115
Tables
6-point all-cap light-face is used. In
'aswords
the
have
to
le
is reversed. however, it is probably desirab
and
115
Tsbles
in
type
same
sets" and "liabilities and capital" in the
se
empaasi
to
also
und
reason,
116 as in the following tables. For this
Bass"
d
"insure
°ands",
"all
the three main divisions of the table, terms
and "noninsured bands" in 6-point all-cap bold-face.
L. ?ootaote numbers. The absence of any space betreeu the
number of a footnote and the footnote itself suggests that the number
v,ith
is 7aore,1osely associ,ted with the first word of the footnote tnan
d
inserte
be
should
en)
an,
ly
the entire footnote. Some space (probab
of
es
footnot
the
to
applies
between the number and the footnote. This
the text as well as those of the tables.
4. In ;:a5es where total figures whim: it is desired to place
should
in italics are on the same line as a bold-face stub the italics
also ce in bold-face -- see Table 12.
5. The various sections of Tables 109 and 110 should be set
off from each other by rules running across the entire page. The present
are
form of the tables does not indicate whether the bold-face figures
totals of the items above or of those below.
6. In Tables 109 and 110 the words "banding offices" just
prior to "in centers with population of' (in the bola-face stubs) could
well be elimim.ted.
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Federal Reserve Bank of St. Louis
Memorandum to Mr. Thompson - p&ge 5
7. In Tables 113 and 114 the hord "averat_er should be inserted
Li the box-head as well as in the title of the table.
8. The sub-title of Table 17 should incicate in some aanner
not all operating insured comsercial banks are included.
that
the fact
by indicating that the tale covers "6680 insured comdone
be
This can
in
oi)eration at the beginning and at the end of the year."
mercial banks
footnote should be added to Table 152 (attached to stub
-- 50 banks" stating that one bahk placed in volun1937
reading "Total
is
included.
liquidation
U,ry
Inconsistencies in terminology in Tade of Contents and in Text
1. The group of tables headed "Earnings of insured comwercial
banks" contains one table referring to mutual savings ban:to. In the
preceding group of tables, however, "Exa:ziners" analysis of insured
banks" the ford "commercial' is omitted, though all tables refer only
to commercial banks.
2. The eyebrow heacling on page 10 refers to insolvent banks
absorbed with the aid of loans from the FDIC while Table 148 refers to
insured banks :merged with the aid of loans.
Id. The short rules placed at the bottom of the page just
and I .
above footnotes are not all of the same length -- compare ?age
4. Jn page 51 tae first -paragraph begins without any indentation. This practice is not followed at the beginning of any other
section of the report.
Other comments on Table 21 Contents and Text
1. The 4orcis "all aditiaaal offices" in the eyebrow heading
at the top of page 21 should have been deleted. The phrase "additional
banking offices" is used in the text and in Table 6 with a meaning quite
oifferent from that in the eyebrow heading.
,.. The Isord "structure" in the section headed "daintenance
of a sound banking structure" on ?age 150, and in the first sentences
of the first and fourth paragraphs of the section, is not the proper
worLi to be used in this connection. The idea which is being uiscussed
is that of a properly functioning banking system rather than that of a
sound structure.
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Federal Reserve Bank of St. Louis
Memorandum to Mr. Thompsoa - page 4
5. Is the statement of the ,olicy of the Corporation regarding capital of banks on oage 15 accurate? Is it the eelief of the
Corporation that each bank shoulc have capital sufficient to give
reasonable assurance of aaintenance of a margin of protection or that
each bank should have aa2ital sufficient to give assurance of the maintenance of a reasonable Ilarkia of 3rotection?
4. "Insolvent banks" ar "closed insolveut banks' or "bents
closed Pecause of financial difficulties' would be more aescri?tive of
Tables 146-154 than "suspensions, receiverships and mergers" since all
of the tables deal aith banks which nave suspended or have been merged
or placed in receivership because of financial difficulties.
Index
The following items for the index were suggested by
ver too late for Inclusion in the 1'a57 report.
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Federal Reserve Bank of St. Louis
Col-
Este
Authority for disbursement of funds
Under assets, Examiners analysis of
aatio of net caoital account to ap,)raised
value of assets
Under net capital account
Examiners analysis of
Under assets and liabilities of insured nonmewber banks
Examiners analysis of
,Under examination of banks
In connection with withdrav.als from FRS
In connection with loans and capit;a1 subscription
by RFC
Of banks requiring special attention
;rider mergers and consolidations
Of banks cited for unsafe and unsound practices
Under capital of banks
l'ecommendations of TUC regarding capital of
national banks and Ltate banks members
of the Federal Reserve System
Correction of banks weakened by 133 crisis
Fixed assets -- see sub-standard assets
24
124-125
126, 127
124-40
14
50
50
18
15
31, 47
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Federal Reserve Bank of St. Louis
LISTb AND 6UPPaTIAG
?upLibutld IA Tiat ILANWIL hie0hT OF TEE FLIC: FUR 1936
Pi-LEP/1141 UNDEli Tht DiBECTIuN Ur ULAE.K WAhBURTUN
k.k.)ATtlAT6
1.
Mergers of insolvent banks
a. Table 2 and text; Table 150
b. List to support Table 2: Applications for loans to facilitate
mergers of insolvent banks acted upon by the Federal Deposit
Insurance Corporation during 1935 and 1936
c. Other mergers and liquic tions of insolvent banks and of banks
in a weaxened condition
2. Banking practices
a.
b.
c.
7
Admissions to insurance
a.
b.
4.
•
Tables 4 and 5 and text
List to support Table 4: Insured banks cited to supervisory authorities during 1936
List to support Table 5: Practices and violations for which banks
were cited to .)tate supervisory authorities
Tables 6 and 7 and text
List to support Table 6: Applications for admission to insurance
actdd upon by the Corporation during 1936
Lst:-blishment and relocation of branches
Tables 8 and 9 and text
List to support Table 8: Applications to establish or relocate branches
acted upon by the Corporation during 1936
C. Supplementary table: branches opened during 1936 by banks members of
the Federal k‘eserve System
d. List to support Table 9: Number and deposits of operating insured commercial banks establishing branches or additional offices during 1936
a.
b.
5.
•
Capital adjustments, deposit assumptions, and miscellaneous actions
a.
b.
c.
d.
6.
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Federal Reserve Bank of St. Louis
Table 10 and text
Table 10 with additional footnotes
List to support Table 10: Applications for retirement or reduction
of capital acted upon by the Corporation during 1936 (this list
not prepared -- tabulations made directly from Dournal of Corporation actions)
List to support text: iissumption of deposits
i.
Applications for release of restricted deposits
Applications for permission toresume deposits of nonii.
insured banking institutions
iii. Absorptions of noninsured banking institutions by insured
banks without assumption of deposits
iv.
Noninsured banks succeeding insured banks
v.
Approvals of assumption of deposits of one insured bank
by another insured bank
Changes of location of insured banks approved
vi.
Number of operating banks and branches
a.
Table 15-17 and 19 and text; (notes regarding number and classificationi
Tables 101-103
2
6.
Number of operating banks and branches - cont.
b.
c.
S
d.
e.
f.
g.
Table 19: Admissions to ind terminations of insurance -- with
reference to list supporting Table 102
Supplementary Table: Number of commercial banks and branches
December 51, 1935 -- differences between figures published in
the 1935 and 1936 Annual iteports
List to support revision of figures regarding number of banks and
branches December 31, 1955
Changes in number and classification of operating banks
Lists to support Table 102 (filed in binder Bank Changes 1936) Changes
in number and classification of banks, Changes in number and classification of branches, and Changes among banks and branches by States
List to support footnotes to Table 102
NOTE:
7.
h.
Lists to support Table 103: (filed in binder Noninsured bank§ and
Brancheg, December 31, 1936) Noninsured banks December 31, 1936,
Branches of noninsured banks December 31, 1056
i.
Lists to support Table 103: (filed in binder Location of branches
December 31,1936) Branches of insured banks December 31, 1966
Major Actors in growth of deposits and assets
a.
b.
•
8.
Lists of changes among insured and nonjnsured banks by
States are filled in the binder entitled Bank Changes
1936-37
Table 21 and text
Supplementary table: Analysis of factors in be growth of bank
deposits and assets 1936 and 1935
Assets and liabilities of operating links
Tables 114 and 115
List to support lable 114: Noninsured banks for which assets and
liabilities are not given
c. List to support footnote to Table 114
a.
b.
•
9. Bank suspensions
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Federal Reserve Bank of St. Louis
a.
b.
T ble 143-145
List to support Table 143: Number and deposits of noninsured banks
which suspended during 1934-38
•
•
1.
•
•
•
•
I.
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Federal Reserve Bank of St. Louis
Mergers of insolvent banks
a. 'able 2 and text; Table 150
b. List to support Table 2: Applications for loans to
facilitate mergers of insolvent banks acted upon
by the Federal Leposit Insurance Corporation during 13.5 and 1.36
c. Other mergers and liquidation of insolvent banks and
of banks in a weakened condition (only one copy
of supporting lists prepared -- sec binder containing original list)
12
•
FEDERAL DEPOSIT INSURANCE CORPORATION
A summary of the actions of the Corporation regarding
loans to
facilitate mergers of insolvent banks, and of the disposition
of these
banks, will be found in Table 2.
•
Table 2. APPLICATIONS
BANKS ACTED UPON BY
LOANS TO FACILITATE !IIERGERS OF INSOLVE
NT
DEPOSIT INSURANCE CORPORATION
DURING 1935 AND 1936
FOR
THE FEDERAL
Disposition of bank
Character of artion by Federal
Deposit Insurance Corporation
Total
Total number of cases acted upon
j Merged
I
' with exist- Suspended In operadon
'nig or newly during
, Dec. 31
organized
1936
1936
banks
• 1
46
.41
4
/n 1936
/n 1935
Loans approved and disbursed
Loans approved but not made 'loans granted
by Reconstruction Finance Corporation)
Loans approved but not disbursed by December
31,
1936
Loan approved, and approval rescinded
Commitment made for loans
Applications received and declined
•
11
11
28
28
3
a
1
a
1
1
2
2
8
6
Nir1.1.:: Mureu t ailed figures regarding loans
disbursed and purchases made will be found in
T.thle 11,0. paw s 22-113.
;
fr-1
Table Mg.
LOANS MADE TO ANDillikSSETS PURCHASED FROM BANKS
BY THE
AUGUST
Date of
loan
Name and location of bank
DEPOSIT INSURANCE
23, 1935-DECEMBER 31, 1936
Class
of
bank'
Total (28 banks)
Number
of
accounts
Total
deposits
k
CORPORATION
-
4;;C*Itti•
Loans made
and assets
purchased
Successor bank
58,582 821,055,660 69,593,480
E. P. Wilbur Trust Company
Bethlehem, Pennsylvania.
The First National Bank of Clinton
Clinton, Oklahoma
The Ann Arbor Sevin. Bank
Ann Arbor, Michigan
Farmers & Mechanics Bank
Ann Arbor, Michigan
The First National Bank and Trust Company
Ann Arbor, Michigan
Citizens Bank of Bosworth
Bosworth, Missouri
The Farmers State Bank
Riley, Kansas
Donelson Bank & Trust Co.
Donelson, Tennessee
Norborne Trust Company
Norborne, Missouri
Koshkonong State Bank
Koshkonong, Missouri
The Peoples Stare Bank of Flat Rock
Flat Rock, Illinois
Central Bank and Trust Company
Newark, New Jersey
The Walton Equitable Bank
Walton, Kentucky
The State Bank of Sarcoxie
Sarcoxie, Missouri
Durham State Bank
Durham, Missouri
The Security Bank
Kingfisher, Oklahoma
November 16, 1935
•
February 4, 1936,
12.324
A
62,347
11,203
3,734,418
1,551,528
3,707
1,729,263
729,944
293
79,569
19,533
A
6.758.411
2,612.569
March 26, 1936
541
70,878
28,097
March 26, 1936
1,086
131,006
37,008
April 24, 1936
447
121,494
14,509
May 25, 1936
880
47,840
13,498
June 18, 1936
218
61,366
June 29, 1936
2,290
361,387
42,292
s76,000
July 6, 1936
994
236,454
107,462
July 11, 1936
554
99,326
21,372
644
124,184
11,248
1,084
149,073
25,060
October 3, 1936
747
133,243
38,026
317,062
203,497
September 15, 1936
I
486,611
February 17, 1936
August 24, 1936
le
•
December 1, 1936
925 I
December 7, 1936
780
December 19,.1936
754
Union Bank
Trust Cbmpany of Bethlehem'
Bet hlehe
•ennsylvania
First Natio
tank in Clinton'
Clinton, Oklahoma
2,862.660
13,150
Mat'ch 19, 1986
-•
1,250
4,356,778.
February 17, 1936
February 17, 1936
O
Stover Bank
Stover, Missouri
Bank of Cambria
Cambria, Wisconsin
The Brewster State Bank
Brewster, Kansas
' Northern and Dakota Trust Company"
Fargo, North Dakota
The First International Bank of Williston
WillistoNyorth Dakota
First International Bank
Minot, North baketa_.
Bank of he hold
Berthold, North Dakota
First State I3ank
Coteau, North Dak,
ta
First State Bank of Nlax
Max, North Dakota
First State Bank of Powers Lake
Powers Lake, North Dakota...
The Cummings State Bank
Cummings, North Dakota
Reservation State Bank
Makoti, North Dakota
FEDERAL
}
74,937
478,76
1
December 19, 1936
2,106
December 19, 1936
1,062 !
December 21, 1936
297
83,852
66,55:
December 21, 1936
11
43,344
30,100
December 21, 1936
620
100,343
59,463
December 21, 1936
500
76,0(1
28,076
December 21, 1936
117
29,832
1
10,245 ;
4414
'
78,212
... December 21, 1936
Is C
Ann Arbor Savings and Commercial Bank'
Ann Arb,,r, Michigan
The First Nationat.Bank of Bosworth
Bosworth, Missotiri
Riley State Bank Riley, Kansas
Bank of Donelson,
Donelson, Tennessee
Citizens Bat,k
Norborne, Missouri
West Plains Bank
West !Using, Missouri
Crawforunty State Bank
hi inson,J1lbsois
Columbus Trust Co.
Newark, Nlw Jersey
Dixie Stat.&nit
,
tacky
- Walton,
The First National ftaal
iwi
t Sarcoxie
Sarcoxie, Missouri
Lewistown State Bank
Lewistown, Missouri
The Peoples National Biurof Kingfisher
Kingfisher,Oklahoma
Farmers Bank of Stoyeellr
Stover, Missouri.,
Tie• Cambriate.B8.nk
('am bria,jitisconsin t.
The Tbikrisidiaftgal/ational Bank of
Colby
The
94111""a
Dakota cWTonal Bank of Fargo
Fargo. North Dakota
Blank of Williston'
Dakota
238*
American State Bank of Minot'
1
N
kota
P
53,651
ta
te.
k
Parshal!, North Dakota
I A-National bank member of the Federal Reserve System; B-State bank member
of the Pederal Reserve System; C-Bank not member of the
Federal Reserve Systen
Newly organized bank.
Continued in operation as a noninsured trust company not accepting deposits.
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Federal Reserve Bank of St. Louis
S
•
Insolvent banks merged with aid of loans or purcha:
,c of
assets by the Federal Deposit Insurance Corporation. Until
July 1, 1938, the Federal Deposit Insurance Corporation is authorized
to make loans secured by assets of insured banks provided: first,
the loan will reduce the risk or avert a threatened loss to the Corporation; and second, the loan will facilitate a merger or consolidation of
the borrowing bank with another insured bank. Under the same
conditions the Corporation may purchase assets from insured banks,
or guarantee one insured bank against potential loss from assuming
10
•
•
•
•
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Federal Reserve Bank of St. Louis
FEDERAL DEPOSIT INSURANCE CORPO
RATION
the liabilities and taking over the assets of another
These powers enable the Corporation to eliminate insured bank.
insolvent banks,
and banks with impaired capital which cannot be
rehab
smaller loss to itself and less disturbance to the commu ilitated, with
nities in which
the banks are located than would be the case if the
banks suspended.
During 1936 the Corporation utilized these power
s in the case of
27 insured banks, of which 2 were national banks
, 1 was a State
bank member of the Federal Reserve System, and 24
were State banks
not members of the Federal Reserve System.
The Corporation had
previously (in the latter part of 1935) utilized
these powers in the case
of one bank not a member of the Federal Reserve
System. In 15 of
the 28 cases loans were extended, in 12 cases
loans were made and
assets also purchased, while in 1 case assets were
purchased. The
total amount of the loans and purchases in the
28 banks amounted
to $9,593,000 of which $8,526,000 was in the
form of loans and
$1,067,000 in the form of purchase of assets
. The estimated recoverable amount of these loans and purch
ases is $5,600,000 or 58
percent. The receipts in connection there
with to December 31, 1936,
amounted to $2,164,000, which is about 39 perce
nt of the estimated
recoverable amount.
Inasmuch as the loans are made to and the
assets purchased from
distressed banks to facilitate mergers which
could not otherwise be
consummated, the assets purchased and accep
ted as collateral against
the loans are those unacceptable to the
absorbing bank. As a consequence the assets are of poor quality and
upon than are the bulk of those to be foundmore difficult to realize
in banks placed in receivership.
The deposits of the 28 banks merge
d with the aid of loans or
purchase of assets by the Corporation
amounted to $21 million, of
which nearly $16 million were insured
the Corporation had the banks been and would have been paid by
placed in receivership. The
loss which it is estimated will be
taken by the Corporation on the
loans and assets purchased is about
$4 million, or approximately
one-fourth of the amount of the
depos
its protected by insurance.
The loss is smaller than would
have been incurred had the banks
suspended and been placed in receiversh
ip.
Of the 28 insolvent banks merged
with the aid of loans or purchase
of assets by the Corporation,
16 were merged with other operating
insured banks and 4 were absorbed
same communities. Of the remai by new banks organized in the
ning banks, 5 were consolidated
under a single new charter in
one
case
and 3 in another case. One
of the banks, after assum
ption of its deposit liabilities by another
bank, has continued in opera
tion as a noninsured trust company but
does not accept deposits.
•
•
(Continued)
•
Insolvent insured banks merged with aid of loans from the
Reconstruction Finance Corporaticn. In addition to the banks
merged with the aid of loans from the Federal Deposit Insurance
Corporation, three insured banks were absorbed by operating banks.
INSOLVENT BANKS CLOSED
•
•
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Federal Reserve Bank of St. Louis
11
with the aid of loans made by the Reconstruction Finance Corporation. In these cases the Federal Deposit Insurance Corporation had
agreed to make loans in amounts sufficient to cover the difference
between deposit liabilities of the absorbed banks and the assets
acceptable to the absorbing banks, but the Reconstruction Finance
Corporation held capital obligations of these banks, and preferred
to extend loans sufficient to retire those obligations and cover the
deficiency of assets acquired by the absorbing banks. Of the three
banks, one was a national bank and the other two were State banks
not members of the Federal Reserve System.
Proposals for loans to insolvent banks disappreved or not
consummated. In addition to those cases in which loans were
made by this Corporation or by the Reconstruction Finance Corporation, 'the Federal Deposit Insurance Corporation took action
during the year regarding loans in the case of 15 insolvent banks.
In about half of these cases applications for loans were declined,
chiefly on the ground that the estimated losses to the Corporation
would not be reduced by making the loans instead of by paying off
the insured deposits if the banks were placed in receivership. The
other cases were chiefly those in which the banks were unable or
unwilling to meet the conditions required by the Corporation in the
event a loan were made.
•
S
LIST TO SUPPORT TABLE 2
APPLICATIONS FOR LOANS TO FACILITATE MERGERS OF INSOLVENT BANKS ACTED
UPON BY THE FEDERAL DEPOSIT INSURANCE CORPORATION DURING 1935 AND 1936
Location
Name
Date 2/
LOANS APPROVED AND DISBURSED (28)
Identi- Number
bAmK
fying
number GIANGES
err—if-ft
LiST
ftcord
Banks merged with exis:t.inp, banks (16)
Missouri: Bosworth
Citizens Bank of Bosworth
,Absorbed by First National Bank, Bosworth
3-19-36
3-18-36
12
115
Kansas: Riley
Farmers State Bank
Absorbed. by Riley State Bank, Riley
3-25-36
3-24-36
2
I1t
"'our': Norborne
Norborne Trust Company
Absorbed by Citizens Bank, Norborne
4-24-56
4-23-36
15
11S
Missouri: Koshkonong
Koshkonong State Bank
Absorbed by West Plains Bank, West Plains
5-25-36
5-23-56
18
117
Illinois: Flat Rock
The Peoples State Bank
Absorbed by Crawford County State Bank, Robinson
6-18-36
6-17-36
07
I I0
New Jersey: Newark
The Central Bank and Trust Company
Absorbed by Columbus Trust Company, Newark
6-29-36
6-27-36
22
lei
Kentucky: Walton
The Walton Equitable Bank
Absorbed by Dixie State Bank, Walton
7-6-36
7-3-36
11
11:
7
Missouri: Sarcoxie
The State Rank of Sarcoxie
Absorbed by The First National Bank, Sarcoxie
7-11-36
7-11-36
25
Missouri: Durham
The Durham State Bank
Absorbed by Lewiston State Bank, Lewiston
8-24-36
8-22-36
24
(IL
9-15-56
9-15-36
37
10
Missouri: Stover
The Stover Bank
Absorbed by Farmers Bank of Stover, Stover
10-3-36
10-3-36
39
ILO
Wisconsin: Cambria
Bank of Cambria
Absorbed by Cambria State Bank, Cambria
12-1-36
12-1-36
43
,13('
Kansas: Brewster
Brewster State Bank
Absorbed by Thomas County National Bank, Colby
12-7-36
12-7-36
40
0
Kingfisher
The Security Bank
homa:
Absorbed by The Peoples National Bank, Kingfisher
•
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Li
I
•
0-
•
•
Name
Location
Date
Identi- NuntER
fying
BANK
number ChAtIGIS
APPROVAL
•
Li5T
REcoRd
RANKS merged with existing banks (Continued)
12-19-56
North Dakota: Fargo
Northern and Dakota Trust Company
Assets were purchased from Northern and Dakota Trust Company
in an amount sufficient to cover their entire deposit liabilities which were assumed by the Dakota National Bank.
The Northern and Dakota Trust Company remains as a going
institution, but is no longer a bank of deposit. Their
principal business is the writing of bonds and trust
12-19-36
functions.
29
North Dakota: Makoti
Reservation State Bank
Absorbed by The Peoples State Bank, Parshall
12-21-56
52
North Dakota: Cummings
Cummings State Bank
Absorbed by State Bank of Shelly, Shelly, Minnesota
12-21-56
12-21-56
41
Ann Arbor Savings Bank
Michigan: Ann Arbor
Farmers and Mechanics Bank
Michigan: Ann Arbor
First National Bank and Trust Company
Michigan: Ann Arbor
Consolidated to form Ann Arbor Savings and Commercial Bank
2-17-36
2-17-36
2-17-56
2-17-56
1
1
1
114
5/4
First International Bank
Dakota: Minot
Dakota: Powers Lake First State Bank of Powers Lake
First State Bank
Dakota: Max
First State Bank
Dakota: Coteau
Bank of Berthold
Dakota: Berthold
Consolidated to form American State Bank, kinot
12-19-56
12-21-56
12-21-56
12-21-36
12-21-56
12-21-36
27
27
27
27
27
5E5
•
Banks consolidated
North
North
rth
rth
North
41k
HA
Banks merKed with newly organized successor banks
E. P. Wilbur Trust Company
Pennsylvania: Bethelem
Succeeded by Union Bank and Trust Company of Bethelem
lahoma: Clinton
First National Bank of Clinton
Succeeded by First National Bank in Clinton
Iii
11-16-35
11-18-55
2-1-36
Tennessee: Donelson
Donelson Bank and Trust Company
Succeeded by the Bank of Donelson
3-26-36
5-26-56
North Dakota: Williston
First International Bank
Succeeded by the American State Bank of Williston
12-19-36
12-19-36
1./
First date is date of disbursement of loan, second the date of the
succession or merger.
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
las
12. 1
IC
IV
-3
•
li
cation
•
Date
Name
Identi- Lia
o
fYing
ailtX
number c IN A ti6Est
PPRovAL
Rd
REC
LOANS APPROVED BUT NOT MADE
(Loans granted by Reconstruction Finance Corporation)
•
Merged with existing or newl,y orRanized banks t3)
Wisconsin: Superior
iimerican Exchange Bank of Superior
Dank was taken over by the Union National Bank of Superior as
of the close of business December 31, 1935. However, reports of condition and earnings were obtained, and absorption tabulated in bank changes statistics as January 2,
1936
Bank of Maynard
Arkansas: Maynard
Absorbed by the Bank of Pocahontas, Pocahontas
El Dorado
The Farmers and Merchants National Bank
Onsas:Absorbed
by Walnut Valley State Bank
oo
2.(,(2
7-11-36
8-29-36
LOANS APPROVED BUT NOT DISBURSED BY DECEMBER 31, 1936
In operation December 31, 1936 (3)
OreEon:
Harrisburg
410rw York:
Manhasset
North Dakota:
Forman
First National Bank
1-27-36 (C)
First National Bank and Trust Company
10-2-36 (C) 21
Bank of Sargent County
12-1-36
3
30
LOANS APPROVED, AND APPROVAL RESCINDED
In operation December 31, 1936 (1)
Montana:
Ismay
•
The First National Bank of Ismay
7-28-36 Ap. 33
9-23-36 Re.
COMMITMENT MADE FOR LOAN IF BANK MAKES FORMAL APPLICATION
Suspended during 1936
Tennessee:
Adams
Farmers and Merchants Bank
3-2-36
14
100
Tennessee:
Cross Plains
Cross Plains Bank
4-10-36
15
1 02
-
•
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
z
!cation
Name
Date
In operation December 31, 1936 (1)
S
orLia:
Columbus
Identi- MwohA
fying
RAMPt
number .r..PNANGPS
APPROVAL
LRT
REcoRd
The Home Savings Bank of Columbus
9
LOAN APPLICATION WITHDRAWN PRIOR TO FINAL ACTION
Suspended during 1936 (1)
Missouri:
Ford City
Ford City State Bank
5-14-36
7
R4
FORMAL APPLICATIONS RECEIVED AND DECLINED
Suspended during 1936 (2)
ssouri:
Stanberry
Commercial Bank of Stanberry
9-1-36
26
Wellsville
Wellsville Bank
9-14-36
20 SI;
Smyrna Bank and Trust Company
3-3-36 (c)
16
Hardin
Hardin Trust Company
3-30-36 (C)
17
Aiientucky:
Providence
Providence Citizens Bank and Tr. Co. 7-21-36 (C)
34
Ilrentucky:
Columbus
Bank of Columbus
7-21-36 (C)
35
The Peoples State Bank
12-22-36 (C)
44
illf
Wissouri:
In operation December 31, 1936 (E)
Tennessee:
Missouri:
Indiana:
Smyrna
Michigan City
LOANS DISAPPROVE PPIOR TO RECEIPT OF FORMAL APPLICATION
In operation December 311 1936 (1)
nnsylvania:
fi
•
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Mahonay City
First National Bank
8-21-36 (C)
36
'
LI .
•
•
S
•
•
•
•
•
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Other mergers and liquidations of insolvent banks and of
banks in a weakened condition. The practice of merging a bank
in financial difficulties with an operating bank has long been customary whenever such a merger could be arranged. During 1936
in addition to those merged with the aid of loans from the Federal
Deposit Insurance Corporation and the Reconstruction Finance
Corporation, 45 insured banks not members of the Federal Reserve
System which were in financial difficulties were merged with operating
banks, 15 were liquidated without being absorbed and without loss
to depositors or to the Federal Deposit Insurance Corporation, and
6 were succeeded by newly organized banks.
In a few cases involving absorptions some of the stockholders
supplied in cash or by guarantee sufficient funds to meet the difference
between the deposit liabilities of the absorbed bank and the assets
acceptable to the absorbing bank. In most of the cases the absorbed
or liquidated banks had sufficient acceptable assets to meet their
deposit liabilities. The earnings of these banks, however, had been
negligible for several years, prospects were poor, and continued
operation would have dissipated the stockholders' remaining equities.
The Federal Deposit Insurance Corporation has not compiled data
regarding the number of national or State banks members of the
Federal Reserve System which were insolvent or approaching insolvency and were merged with other banks members of the Federal
Reserve System. In five cases in which such banks were absorbed
or succeeded by insured banks not members of the Federal Reserve
System the outgoing banks were in a weakened condition.
•
2. Banxing practices
a.
b.
c.
•
•
•
O
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Tables 4 and 5 and text
List to support Table 4: Insured banxs cited to
Supervisory authorities during 1.56
List to support Table 5: Practices and violations
for which banks were cited to supervisory authorities
o
•
•
•
41.
INSURED BANKS CITED TO SUPERVISORY AUTHO
RITIES FOR UNSAFE OR
UNSOUND BANKING PRACTICES OR VIOLATIONS OF
LAW OR REGULATIONS, 1936
'Table 4.
Number of
cases
Total cases
•
24
Status on December 31, 1936:
Corrections made
Bank closed
Bank absorbed by another bank
120-day correction period expired:
Bank notified of intention to terminate its insured status
and date set for hearing
Action awaiting results of reexamination
Action deferred because of change of bank management
and partial correction
Action otherwise deferred
120-day correction period not yet expired
3
4
1
3
3
3
2
5
BANKING PRACTICES
•
•
•
•
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Action on unsafe and unso
und practices and violations of
law or regulations. The
Federal Deposit Insurance Corporation
is authorized to terminate the
tinues to engage in unsafe or insured status of any bank which conunsound practices or violations of law
or regulations. The procedure
followed in these cases, as specified
in the deposit insurance law
and as developed in practice, is as follows:
(1) the proper bank super
visor
rency in the case of a natio y authority (Comptroller of the Curnal bank, or of any other bank in the
District of Columbia, the State
banking authority in the case of a
State bank, or the Board of
Gove
rnor
s of the Federal Reserve System
in the case of a State bank
member of that system) is notified of the
existence of such practices or
days, or such shorter perio violations; (2) the bank is allowed 120
d as may be specified by the appropriate
supervisory authority, in which
to correct the practices or violations
in question; (3) after
the close of the period specified the bank is reexamined to determine the
have been corrected; (4) extent to which the practices or violations
if the practices or violations have not been
corrected the bank is notif
ied of the intention of the Corporation to
terminate its insured status
after 30 or more days and a time and place
for a hearing is desig
nated;(5) a hearing is held by the Board of Directors of the Corporatio
n, or by a designated representative, at which
the bank may appear, to consider the evidence; and (6) if the
evide
shows that the practices or violations exist and are continuing nce
, an
order is issued terminating the insured status of the bank.
During 1936 the Corporation notified the appropriate bank
super
visory authorities of the continuance of unsafe or unsound pract ices
or of violations of law or regulations in the case of 24 insured bank
s.
In three cases the practices or violations had been corrected
by
the
close of the year. In three other cases the banks had been
notified
of the intention of the Corporation to terminate their insured statu
and dates had been set for hearings. In eight cases the 120- s
waiting period had expired and further action by the Corporatio day
n was
pending. In five cases the 120-day waiting period had
not expired,
.and in five other cases the banks had suspended or had been abso
rbed
by other banks. Up to the close of 1936, the Corporation issue
d
order terminating the insurance of a bank by reason of the exist no
ence
of unsafe or unsound practices or of violations of law or regulation
s.
Further details regarding these cases will be found in Tabl
e 4.
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
•
18
FEDERAL DEPOSIT INSURANCE CORPORATION
UNSAFE AND UNSOUND B kNKING PRACTICES AND
VIOLATIONS OF
LAW AND REGULATIONS FOR WHICH 24 INSURED BANKS
WERE CITED
TO SUPERVISORY AUTHORITIES DURING 1936
Table 5.
Capital:
Operation without capital or when insolvent
Operation with impaired capital
Unauthorized reduction of cari!al
Character of loans and investments:
Lax loan, or loan and investment, policies
Excessive credit to officers or directors
Excessive credit to other favored borrowers
Unwarranted credit extension to persons on whom losses had
previously been sustained
or on lines previously criticized by examiners
Credit in excess of good banking practices
Excessive credit extension through overdrafts.
Unwarranted increase in loess and discounts
Purchase of or loans upon speculative securities
Abnorm tl volume of substandard loans or securities
Abnormal volume of non-income-producing loans
Abnormal volume of real estate or real estate loans likely
to be defaulted
Inadequate collateral for loans
Collection policy:
Lax collection policy
Abnormal volume of past-due loans
Failure to give necessary attention to loans of questionable
value to prevent them from
developing into losses
Failure to reduce excessive lines
Failure to reduce excessive credit to officers
Failure to renew loans properly
Credit records:
Inadequate credit information and absence of financial statement
Failure to secure up-to-date information before renewing loans s of borrowers
Inadequate evidence supporting acquisition of real estate
.
Failure to record mortgages or deeds on real estate ...
. .......
Character of management:
Failure of directors to care properly for interests of bank
Failure of cashier or managing officers to ear, properly for
Failure of directors to attend meetings of bi.ard regularly interests of bank
. .
. ..
Failure of officers to call annual meetings of stockholders and
to cause election of legally
constituted Board if Directors
..
Continued employment of incompetent cashier
Failure of cashier to obey board of directors
Attempt to deceive bank examiners
Disregard of recommendations of examiners
Violation of hank's by-laws
Dishonest replies to questionnaires from Federal Deposit Insurance
Corporation
Withdrawal of cash or use of bank funds by officers
Bookkeeping and general records:
Inclusion of losses among assets
Replacement in assets of bank of charged off losses
Inadequate records, or records not up-to-date
Failure to credit interest payments
Failure properly to record renewal of loans in minutes
of meeting of board of directors..
Miscellaneous policies:
Continuous borrowing by bank
Carrying of an unwarranted amount of public funds
on deposit in proportion to quick
assets
Inadequate surety coverage
Improper disbursements for salaries or fees.
Improper disbursements for dividends
Improper transactions in earnings and reserve accounts
Waiving and rebating of interest on loans
.
Unauthorized payment of dividends on stock to certain stockholde
rs, disguised as salaries
Violations of law and regulations:
Making loans when capital and reserves
are impaired
Credit extension in excess of legal
Loans on real estate not complyinglimit
with State law
Failure to maintain legally required r,
Failure of directors to make examinati rvos
on of bank as required by State law
Failure to bond officers as required
by law
Violation of regulation of Federal
Deposit Insurani. Corporation regarding payment of
interest
Number
of banks
cited
4
13
17
10
2
3
2
1
3
11
6
4
4
13
9
2
1
1
4
15
1
2
3
11
6
1
1
1
1
3
7
2
2
3
11
2
6
1
1
2
2
4
s
1
1
1
1
13
1
1
3
Character of unsafe and unsound practices and violations of
law or regulations leading to Corporation action. Most of the
banks cited for unsafe or unsound practices or violations of law or
regulations have been engaged not merely in one but in many such
practices and violations. In practically all such cases the statements
sent to bank supervisory authorities have enumerated various general
cnticisms of 'managerial policy, such as "poor credit and collection
policy" in addition to specific unsound practices or violations of law.
The most common types of unsafe and unsound practices specified
in notices to supervisory authorities were as follows:(a) operation with
inadequate capital; (b) excessive extension of credit to officers or directors; (c) other unduly hazardous or illegal extensions of credit; (d)
holding of excessive volume of hazardous assAs;(e) inadequate credit
information and absence of financial statements of borrowers; (f)
carrying of losses among assets; (g) operation with dishonest, incompetent or careless management.
BANKING PRACTICES
19
A more detailed list of the unsafe and unsound practices and violations of law or regulations for which banks were reported to supervisory authorities, will be found in Table 5.
LISTS TO SUPPORT TABLE 4
ACTIONS REGARDING UNSAFE AND UNSOUND PRACTICES
CASES REGARDING WHICH BANK SUPERVISORY
AUTHORITIES WERE NOTIFIED (24)
•
Corrections made (3)
Arkansas:
Griffithville
Iowa:
Grand Mound
Indiana:
Roann
The First Bank
Union Savings Bank
State Exchange Bank
Number
Approval
Record
6
14
16
Bank Closed (4)
•
Kentucky:
Hardin
Indiana:
Cumberland
Indiana:
Holton
Louisiana:
Mansfield
Hardin Bank
Cumberland Bank
Holton State Bank
De Soto Bank and Trust Company
2
15
8
17
Bank absorbed (1)
Columbia
Missouri:
Conley-Myers Bank
3
120-day correction period expired
Bank notified of intention, etc.
•
Missouri:
Mansfield
Indiana:
Romney
New Jersey:
North Bergen
(3)
Farmers and Merchants Bank
Romney Bank
North Bergen Trust Company
7
9
13
Action awaiting result of re-examination (3)
Kansas:
Louisburg
Kentucky:
Dunnville
Indiana:
Michigan City
•
Bank of Louisburg
Peoples Bank
Michigan City Trust and
Savings Bank
1
19
20
Action deferred because of change of bank management and partial correction
Kentucky:
Kentucky:
Georgia:
Morehead
Irvington
Columbus
Citizens Bank
First State Bank
Home Savings Bank
4
5
12
Raritan Trust Company
Perth Amboy Trust Company
10
11
Action otherwise deferred (2)
New Jersey:
New Jersey:
Perth Amboy
Perth Amboy
120-day correction period not yet expired (5)
•
Missouri:
Missouri:
Missouri:
Colorado:
Missouri:
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Festus
Trenton
Madison
Briggsdale
Bucklin
Citizens Bank of Festus
Farmers Bank of Trenton
Farmers and Merchants Bank
The BriEgsdale State Bank
The Citizens Bank
21
22
23
24
25
•
Table 5.
LAW
UNSAFE AND uNsouNr BANKING PRACTICES AND VIOLATIONS OF
REGULATIONS FOR WHICH 24 INSURED BANKS WERE CITED
TO SUPERVISORY AUTHORITIES DURING 1936.
AND
Number of
banks cited
Identifying numbers
Approval record
Capital:
Operation without capital or when
insolvent
Operation with impared capital
4
13
Unauthorized reduction of capital
1
4,7,10,11
2,5,8,12,13,15,16,
17,20,22,23,24,25
12
Character of loans and investments:
•
Lax loan, or loan and investment policies
17
Excessive credit to officers or directors
10
Excessive credit to other favored borrowers
2
Unwarranted credit extension to persons on
whom losses had previously been sustained
or on lines previously ciiticized by
examiners
3
Credit in excess of good banking practices
2
Excessive credit extension through overdrafts 5
Unwarranted increase in loans and discounts
Purchase of or loans upon speculative securities
5
Abnormal volume of substandard loans or
securities
11
•
Abnormal volume of non-income-producing
loans
Abnormal volume of real estate or real
estate loans likely to be defaulted
Inadequate collateral for loans
5,6,8,9,10,11,12,13,
15,16,19,20,21,22,
23,24,25
3,6,7,10,11,13,19,21,
22,25
1,12
1,15,20
1,7
7,8,15,19,25
4
12,13
3,7,8,9,10,11,16,17,
20,21,25
6
8,9,10,11,16,17
4
4
9,12,16,17
7,10,11,24
Collection policy:
Lax collection policy
13
Abnormal volume of past-due loans
9
Failure to give necessary attention to
loans of questionable value to prevent
them from developing into losses
Failure to reduce excessive lines
Failure to reduce excessive credit to
officers
Failure to renew loans properly
1
2
1
4
5,6,8,9,10,11,12,16,
19,20,22,23,24
7,8,9,10,11,17,22,23,
25
6,19
12
6
6,7,11,19
Credit records:
Inadequate credit information and absence
of financial statements of borrowers
15
Failure to secure up-to-date information
before renewing loans
1
Inadequate evidence supporting acquisition of
real estate
2
Failure to record mortgages or deeds on real
estate
3
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
1,5,6,7,8,9,10,11,12,
15,20,22,230 24,25
23
6,24
6,19,24
•
Table 5. UNSAFE AND UNSOUND BANKING PRACTICES AND VIOLATIONS OF
LAW AND REGULATIONS FOR WHICH 24 INSURED BANKS WERE CITED
TO SUPERVISORY AUTHORITIES DURING 1936
(Continued)
•
—2—
Number of
banks cited
Identifying numbers
Approval record
Character of management:
Failure of directors to care properly
for interests of bank
•
•
Failure of cashier or managing officers
to care properly for interests of bank
Failure of directors to attend meeting of
board regularly
Failure of officers to call annual meetings
of stockholders and to cause election of
legally constituted Board of Directors
Continued employment of incompetent cashier
Failure of cashier to obey board of direct—
ors
Attempt to deceive bank examiners
Disregard of recommendations of examiners
Violation of bank's by—laws
Lishonest replies to questionnaires from
Federal Deposit Insurance Corporation
Tithdrawal of cash or use of bank funds by
officers
11
3,6,8,9,10,11015,
19,20,21,25
6
6,7,8,9,15,25
1
10
1
1
19
14
1
3
7
2
1
7,21,25
1,6,7,11,13,17,19
6,11
2
21,22
3
3,14,21
Bookkeeping and general records:
Inclusion of losses among assets
•
Replacement in assets of bank of charged
off losses
Inadequate records, or records not up—to—date
Failure to credit interest payments
Failure properly to record renewal of loans
in minutes of meeting of board of directors
11
2,415,819,10,11113,
17,23,25
2
6
1
3,24
1,6,8,9,15,19
7
1
11
2
10,11
2
4
3
1
9,16
6,7,15,25
3,13,19
19
1
1
3
25
1
3
Miscellaneous policies:
•
Continuous borrowing by bank
Carrying of an unwarr4nted amount of public
funds on deposit in proportion to quick
assets
Inadequate surety coverage
Improper disbursements for salaries or fees
Improper disbursements for dividends
Improper transactions in earnings and reserve
accounts
Waiving and rebating of interest on loans
Unauthorized payment of dividends on stock
to certain stockholders, disguised as
salaries
Violations of law and regulations:
••
Making loans when capital and reserves are
impaired
Credit extension in excess of legal limit
Loans on real estate not complying with
State law
Failure to maintain legally required reserves
Failure of directors to make examinations of
bank as required by State laws
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
1
13
1
1
24
1,2,3,5,7,8,9,11,15,
19,20,21,22
15
9
10,11
Table 5. UNSAFE AND UNSOUND BANKING PRACTICES AND VIOLATIONS OF
LAW AND REGULATIONS FOR WHICH 24 INSURED BANKS WERE CITED
TO SUPERVISORY AUTHORITIES DURING 1936
(Continued)
-3--
Number of
banks cited
Identifying numbers
Approval record
Violations of law and regulations: (coned)
Failure to bond officers as required by law
Violation of regulation of Federal Deposit
Insurance Corporation regarding payment
of interest
•
•
•
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
1
25
3
3,23,25
•
3.
Admissions to insurance
a.
b.
•
•
•
•
,
4f
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Tables 6 and 7 and text
List to support Table 6: Application for admission
to insurance acted upon by the Corporation during
1936
•
•
•
Table 6.
•
APPLICATIONS FOR ADMISSION TO INSURANCE ACTED UPON BY THE
FEDERAL DEPOSIT INSURANCE CORPORATION DURING 1936
HANKS NOT MEMBERS OF THE FEDERAlt RESERVE SYSTEM
Banks
Banks
operating but opened, or
opening
not Iiksemsd
amitinapiated
Jao. I.
during
19861
1986
Total
Insured banks
reorganising
under new
charters or
withdrawing
from F. R.
System
••••••
Total applications acted upon
Approved:
Insurance effective in 1986
I
.
Insurance not effective in 1936
Plans abandoned and approval ,,yiA:oded ,
Disapproved:
Banks continued in operation, or opened
or reorganized, without insurance
Banks closed, or plans of organization or
reorganization abandoned or delayed .
166
68
51
47
116
1(6
42
7
1
27
4
37
6
2
25
17
17
6
2
14
2
'Includes proposed successors to operating noninsured banks and proposed reorganizations of
restricted banks.
•
•
•
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
ADMISSIONS TO AND TERMINATIONS OF INSURANCE
Applications approved and rejected. During 1936 approximately 133 formal applications were received froin State banks not members of the Federal Reserve System for admission to insurance and
• 58 such applications were pending at the beginning of the year. Of
these 191 applications 124 were approved and 42 were disapproved.
The remainder had been withdrawn or were pending at the close of
the year. Only 106 of the banks approved for insurance were actually
admitted during 1936. The remainder had not opened for business
or had not met the conditions of approval by the close of the year.
Table 6 shows the number of applications for insurance acted upon
by the Corporation, the dispm,ition made of those applications, the
character of the institutions involved and the status as of the close
of the year of the institutions whose applications were rejected.
o
•
•
LIST TO SUPPORT TABLE 6.
APPLICATIONS FOR ADMISSION TO INSURANCE ACTED UPON BY THE
FEDERAL DEPOSIT INSURANCE CORPORATION DURING 1936
Location
•
Name
Date
APPROVED - INSURANCE EFFECTIVE IN 1936 (106)
Identifying
number
ar,,rov91
r
an
360
operat
jiLisureSiJir
Georgia: Arlington
Georgia: Comer
Georgia: Summit
Georgia: Unadilla
Iowa: Anita
Iowa: Aurelia
Iowa: Mitchellville
Iowa: Red Oak
Iowa: Red Oak
Iowa: Rock Rapids
Iowa: Sioux Rapids
Kansas: Effingham
Kansas: Herndon
Kansas: Herndon
Kansas: Kackley
Kansas: Ludell
Kansas: . McLouth
Kansas: Ransom
Kansas,: Troy
Maine: Houlton
362
363
364
765
766
367
370
371
372
373
374
375
376
377
378
22
379
398
380
381
382
399
Minnesota: Duluth
Minnesota: Lake Elmo
Missouri: Waynesville
Milsouri: Ayaconda
Montana: Cut Bank
Nebraska: Randolph
New Jersey: Hawthorne
38Alk
3111,
356
385
386
387
388
389
390
392
391
Oklahoma: Anadarko
Pennsylvania: Martinsburg
Pennsylvania: Scranton
Pennsylvania: Woodbury
Texas: Brookshire
Texas: Gladewater
Texas: Groesbeck
Texas: Kopperl
Texas: Marion
Texas: Stockdale
Texas: Round Rock
•
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
•
f.2
1.s. 193D (42)
Bostwick Banking Co.
Rowe Banking Co.
Durden Banking Co., Inc.
Exchange Bank of Unadilla
Anita State Bank
The First Trust and Savings Bank
Farmers Savings Bank
Houghton State Bank
Red Oak Trust and Savings Bank
Rock Rapids State Bank
First State Bank
The Farmers and Merchants State Bank
The First State Bank
State Bank of Herndon
Kackley State Bank
The Farmers State Bank
The Bank of McLouth
The Farmers State Bank
The Troy State Bank
Houlton Trust Company (operating
under restrictions)
Northwestern State Bank of Duluth
State Bank of Lake Elmo
Waynesville Security Bank
Peoples Bank of blraconda
Bank of Glacier County
First State Bank of Randolph
Peoples Bank of Hawthorne
(operating under restrictions)
Anadarko Bank and Trust Co.
Morrison's Cove Bank
Scranton Lackawanna Trust Co.*
Farmers State Bank
Farmers State Bank
The First State Bank
The Farmers State Bank of Groesbeck
Kopperl State Bank
The Marion State Bank
Security State Bank
Farmers State Bank of Round Rock
3-2-56
1-16-36
1-15-36
2-11-36
1-13-56
10-31-36
8-20-36
5-11-56
5-28-36
10-8-36
3-24-55
5-34-36
1-23-36
4-29-36
6-27-56
2-11-56
3-14-56
11-7-36
2-11-36
12-29-36
445
446
447
448
457
1421
1215
1124
944
1181
721
897
493
845
899
544
657
1452
545
1600
6-1-36
12-19-36
1-31-36
8-24-36
7-28-36
3-14-36
7-8-36
1699
1313
543
1184
1126
658
692
2-11-36
5-4-36
3-24-36
11-7-36
3-14-36
4-7-36
3-14-36
2-28-36
2-11-36
1-31-36
1-23-56
547
455
708
1483
659
760
660
634
548
524
495
•
•
- 2
•
Number Location
bank
cjes
Name
APPROVED - INSURANCE EFFECTIVE IN 1936 (106) - Continued
Banks Diaaridilag 123,1t,
393
400
Virginia: Speedwell
West Virginia: Gassaway
401
West Virginia:
Moundsville
402
West Virginia:
Summersville
opeaecl
8
12
13
14
15
16
17
18
19
7
'4
77
71
Alabama:
Florida:
Florida:
Date
Grove Hill
Auburndale
Daytona Beach
Florida: Miami
Florida: New Smyrna
Georgia: Dawson
Illinois: Mount Carmel
Iowa: Algona
Iowa: Chelsea
Iowa: Lamoni
Iowa: Livermore
Iowa: Mason City
Minnesota: Argyle
Mississippi: Brookhaven
Montana: Belt
Nebraska: Fairbury
Nebraska: Mullen
Ohio: Gibsodburg
Ohio: Holgate
Ohio: Minerva
Oklahoma: Claremore
Oregon: Bend
Tennessee: Morristown
Texas: Baytown
Texas: Sherman
Washington: Sequim
West Virginia: Pennsboro
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Identifying
number
jasArga. jawy 1„ 19_36 (42) - Continued
Bank of Speedwell, Inc.
Bank of Gassaway(operating under
restrictions)
Marshall County Bank (operating
restrictions)
Nicholas County Bank (operating
under restrictions)
2-24-56
6-29-56
629
1031
2-15-36
549
12-21-56
1604
8-1-36
8-5-36
12-8-56
1050
1154
1451
10-27-36
1-2.5-36
5-1-56
11-18-36
4-20-36
10-19-36
1-15-36
1-15-56
8-29-36
6-27-36
8-5-36
5-14-36
7-20-56
1-2:5-56
1-30-36
5-11-56
4-3-36
1-4-56
10-26-36
8-1-56
5-28-36
3-14-36
10-26-56
12-3-56
1580
492
1069
1434
758
1329
449
587
1286
992
1085
631
946
494
434
632
592
1012
1455
993
948
695
1470
1509
opfflaing contegilaIgadurin,g 1936 (27)
The First Bank of Grove Hill
Peoples Bank of Auburndale
Industrial Savings Bank at Daytona
Beach
American Bank and Trust Co.
Bank of New Smyrna
>
Bank of Terrell
Security Bank of Mount Carmel l,\
Security State Bank
\
Chelsea Savings Bank
State Bank of Lamoni
Livermore State Bank
United Home Bank and Trust CO.'
Argyle State Bank
State Bank and Trust Company of .>
Belt Valley Bank
The Fairbury State Bank
Bank of Mullen
The Gibsonburg Banking Company,x
The Holgate State Bank
Minerva Banking Co.
Rogers County Bank
Bank of Bend
Bank of Commerce
Peoples State Bank of Baytown
Grayson County State Bank
Bank of Sequim
The Community Bank
o
•
-
r,oc.-tion
•
Name
InsuLed
Date
Identifying
number
va- 3 If.ar-ZWILLL114; under new chz-,,rtesQ. aZ Aitlicirivang
jam EacitrAl,
-'
.Sy st_zia (37)
g
418 Georgia: Pelham
419 Iowa: Lake Park
Iowa: What Cheer
516 Indiana: Edwardsport
421 Kansas: Almena
215 Kentucky: Frankfort
422 Niinnesota: Appleton
423 Minnesota: Benson
424 Minnesota: Dawson
nesota: Hancock
425
1nnesota: Olivia
426 411
427 Minnesota: Paynesville
428 Minnesota: Winthrop
517 Missouri: Morehouz:e
511 Missouri: Wellsville
518 Nebraska: Stratton
429 North Carolina: mount Olive
430 North Dakota: KillUee
-Aohh Darcota: Napo eon
132arth Dakota: Neche
478Wrth Dakota: Williston
519 South Carolina: Johnston
454 South Dakota: Gettysburg
435 South Dakota: Oldham
528 Tennessee: Cumberland City
479 Tennessee: Donelson
520 Tennessee: Nashville
521 Texas: Borger
522 Texas: Mexia
436 Texas: Robert Lee
Pelham Banking Company
12-9-36
Security State Bank of Lake Park
3-24-36
First State Bank of Xhat Cheer
9-8-56
Edwardsport Bank
12-28-36
First State Bank
10-3-36
Farmers Deposit Bank
11-13-36
Northwestern State Bank of Appleton 9-5-36
The First State Bank of Benson
5-25-36
Northwestern State Bank of Dawson
8-31-36
Hancock State Bank
12-12-56
The Citizens State Bank of Olivia
The First State Bank in Paynesville
6
36
inthrop State Bank
8-31-36
State Bank of Morehouse
6-29-36
Bank of ;vellsville
9-14-36
Commercial Bank
9-2-36
Bank of Niount Olive
3-2-36
1=
Napo
Citizens State Bank
American State Bank of Williston
The Johnston Bank
Potter County Bank
The Oldham State Bank
Cumberland City Bank
Bank of Donelson
Nashville Trust Company
Panhandle State Bank
Farmers State Bank in Mexia
Robert Lee State Bank
878
722
1182
1650
1512
1525
1106
879
1096
1601
523
1634
1125
1029
1165
1185
546
VI4‘
1-11-36
12-19-36
5-4-36
9-21-36
11-2-36
7-3-56
3-26-36
6-29-36
1-22-36
5-2-36
12-10-56
433
1570
847
1288
1435
1052
676
1053
709
848
1540
1-17-56
1-17-36
4-29-36
5-16-56
12-28-36
10-28-36
420
453
814
591
1602
1436
lkactriailaz from Ze.cleX`1.1 araQT.I.e.
457
438
439
440
441
442
Georgia: Reynolds
Minnesota: Gibbon
Minnesota: Westbrook
North Carolina: Elizabethtown
Oregon: Baker
South Dakota: Winner
•
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
The Citizens State Bank
State Bank of Gibbon
Citizens State Bank of 7.estbrook
Bank of Eli?abethtown
Baker State Bank
Farmers State Bank
4
•
Name
NUOLocation
BER
bank
changes
Identifying
number
APPROVED — INSURANCE NOT EFFECTIVE IN 1936 (16)
Banks operating but not insured Janutaly 1, 1936 (7)
4
Florida: Fort Myers
Iowa: Storm Lake
Kansas: Atwood
Kansas: Wathena
Missouri: Gorin
South Carolina: Georgetown
Texas: Rochester
Banks
9.221Ang
Arkansas: Monette
Florida: Umatilla
Minnesota: Grand Meadow
Washington: Waterville
'
The MJrris Plan Bank of
Commercial Trust and Savings
State Bank of Atwood
Farmers State Bank
Jayne Banking Company
First Commercial Bank
Home State Bank
1632
1311
1226
1227
1185
1603
880
or openinE contemplated during 1956 (4)
Monette State Bank
Umatilla State Bank
Security State Bank
Bank of Waterville
1649
1568'
1051
1652-
Insured banks reorganizing under new charters or
withdrawing from Federal Reserve System (5)
Reorganizing
411
Florida: Larianna
Indiana: LaPorte
Iowa: Diagonal
Missouri: West Plains
Wisconsin: Grantsburg
The First Bank of
LaPorte Loan and Trust Company
First State Bank
West Plains Bank
Northwestern State Bank of Grantsburg
16 35 v/
1651'
1225
1350
1384
PLANS ABANDONED AND APPROVAL RESCINDED (2)
Banks operating but not insured January 1, 1936 (I)
280
Maine:
723
Lubec Trust and Banking Company
(operating under restrictions on savins deposits)
Lubec
•
Insured banks reorganizing under new charters
(1)
or withdrawing from Federal Reserve System
Reoru-anizing
Wisconsin:
he
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Prescott
Northwestern State Bank
1351
lar
•
,ocation
-'1a1-47es
list
•
Identifying
number
Name
DISAPPROVED - BANKS CONTINUED IN OPERATION, OR OPENED
OR REORGANIZED, WITHOUT INSURANCE (25)
Banks operating but not insured, January 1, 1936 (17)
Georgia: Atlanta
Peoples Bank
628
Georgia: Sharon
The Bank of Sharon
829
Indiana: San Pierre
Bank of San Pierre
912
(proposed to convert from private - continued as private)
Iowa: Hubbard
Security State Bank
1507
Kansas: Black Wolf
Black Wolf State Bank
1349
Kansas: Holton
Kansas State Bank
898
Kansas: Narka
The State Bank
724
Michigan: Levering
State Bank of Levering
945
Minnesota: Danube
State Bank of Danube
431
Minnesota: Ogilvie
First State Bank
1482
(Bank withdrew from insurance on September 23, 1935, effective October
12, 1935, on basis of having disqualified itself for membership by
reducing common capital over FDIC disapproval. Application for readmission has been disapproved three times, in november 1935, December 1935 and November 1936)
Minnesota: Rothsay
Farmers State Bank
454
Minnesota: Sandstone
Security State Bank
589
(proposed to move to Askoo - move made)
Missouri: Spickard
Bank of Spickardville
423
Nebraska: Scottsbluff
First State Bank
432
Nevada: Austin
Lander County Bank
1127
(bank operating under restrictions - restrictions removed 7-1-36)
Virginia: Pulaski
Pulaski Trust Company
913
Wisconsin: Vesper
Vesper-Arpin State Bank
1289
0
Banks opened, or opening contemplated, during 1936
(6)
Opened prior to application for insurance:
52
Nebraska: Winside
South Carolina: Dillon
•
Winside State Bank
.\
Anderson Brothers, Bankers ,
1508
726
Opened after disapproval for insurance:
33
65
48
53
Colorado: Cortez
Citizens State Bank
Michigan: Detroit
Michigan Industrial Bank
(reopening of closed bank)
Minnesota: Maynard
Security State Bank
Oklahoma: Carnegie
First State Bank
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
943
725
421
1097
•
hmaffiLocation
bank
thanges
list
-5
•
Name
Identifying
number
Insured banks reorganizing under new charters or
withdrawing from Federal Reserve System (2)
•
ReorEanizirw
404
South Carolina:
Texas: Coleman
Salley
The Bank of Salley
Coleman County State Bank
815
1366
DISAPPROVED - BANKS CLOSED, OR PLANS OF REORGANIZATION OR
REORGANIZATION ABANDONED OR DELAYED
Banks operatin4: but not insured January 1, 1936 tl)
Oregon: Maupin
Maupin State Bank
(bank operating under restrictions - closed 6-20-36)
•
846
Banks opened, or 2pening contemplated during 1936 (14)
Alabama: Arab
Alabama: Pine Hill
Arkansas: Blytheville
Arkansas: Farle
Arkansas: Lake Village
Arab Trust and Savings Bank
Proposed new bank
Delta Bank
Bank of Earle
Hammond Bank
( LibertySavings Bank
Arkansas: Osceola
( Bank of Commerce
Arkansas: Wilmot
Wilmot State Bank
Georgia: Tifton
Tifton State Bank
Kentucky: Jeffersontown
Bank of Jeffersontown
(proposed reopening of closed bank)
Minnesota: St. Paul
Selby Avenue tate Bank
Ohio: Dayton
Union Trust Company
(proposed reopening of closed bank)
Ohio: Sherwood
The Sherwood State hank
(proposed reopening of closed private bank)
South Dakota: Leola
McPherson County Bank
Tenness(e: Jefferson City
Farmers and Lercharts Bank
•
•
1481
796
1210
1599
1211
783
1505
1526
1401
452
422
947
633
785
759
Insured banks reorRanizinp, under new charterk: or
withdrawia from Federal Reserve _System (2)
leoryanizinA
Tennessee: Dyersburg
Proposed new bank
(to organize and acquire Newbern State Bank, Newbern, Tennessee)
1084
WithdrawiK, from Federal Reserve System
Tennessee:
Carthage
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Citizens Bank and Trust Company
965
•
S
Table 7.
BANKS ADMITTED TO INSURANCE DURING 1936
Members Federal Reserve s
System
Total
National
Total number of admissions
Banks beginning operations during 1936:
New banks without predecessors
Reopen i n gs of or successors to closed banks
Banks operating but n.it insured at beginning
of year:
Regularly operating under general banking
laws and admitted to insurance without !
reorganization
Operating under restrictions and reorganized under old charters at time of!
admission to insurance
Private banks incorporated and other'
banks reorganized under new charters at!
time of admission to insurance,
Trust company not doing a banking business
Bar,k,succeeding other insured banks
1.45
19
32
4
6
36
112
1
26
2
14
5
5
4
1
46
1
12
2
Banks withdrawing from Federal Reserve,
System and readmitted as banks not
members of that System
•
. 1,1
State
32
6
'Includes 4 banks approved for admission to insurance in 1935,
but with insurance not effective
until 1936, and 1 national bank in the Virgin Islands
admitted to insurance upon certification of the
Comptroller of the Currency.
21ncludes 1 bank previously operating under restrictions.
Number and classification of banks admitted to insurance.
The total number of banks admitted to insurance during 1936 was
129, excluding 6 banks withdrawing from Federal Reserve membership
but continuing their insurance. Of these approximately one-third
were successors to other insured banks, one-third banks in operation
but not insured at the beginning of the year, and nearly one-third
banks beginning operations during the year. Of the 36 which opened
•
22
FEDERAL DEPOSIT INSURANCE CORPORATION
for business during the year and were admitted to insurance, 4
successors to or reopenings of closed banks, and 32 were new were
banks
without ascertainable predecessors.
Table 7 summarizes the character and class of banks admit
ted to
insurance during 1936. Further details are given in Table 102,
pages
102-03.
ADMISSIONS TO AND TERMINATIONS
OF INSURANCE
•
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
21
Automatic admissions to insurance. Bank
s in the continental
United States granted national charters and
autho
rized to open for
business by the Comptroller of the Curre
ncy, State banks admitted to membership in the Federal Reserve
banks in the possessions applying for insuranceSystem, and national
and certified by the
Comptroller of the Currency as to ability
to qualify for insurance,
are automatically admitted. Applications for
national bank charters
and applications of noninsured banks for
admission to Federal Reserve membership, however, are referred
to the Federal Deposit
Insurance Corporation for an opinion as to
whether the banks should
be admitted to insurance. Except for
application of noninsured banks for membecertain types of cases of
rship in the Federal Reserve System, the opinion rendered by the
only and does not control the issuance of Corporation is advisory
national charters or the
admission of noninsured banks to membership
in the Federal Reserve
System. The Corporation believes that no
bank should be permitted
to become insurel without its approval.
During the year the 19 banks which
from the Comptroller of the Currency, received national charters
the 5 noninsured State banks
which were admitted to membership in
the Federal Reserve System,
and the 1 applicant national bank in
the possessions, were automatically admitted to insurance. Of these
banks 14 were successors to other
insured banks.
•
•
•
LIST TO SUPPORT TABLE 7
BANKS AMITTED TO INSURAHE, 1936
Locat,ion
Date
Name
SI
NEW BANKS WITHOUT PREDFCESSORS
National
1
2
3
4
5
6
Florida: Lake Worth
Florida: St. Petersburg
Illinois: Chicago
Illinois: Chicago
Illinois: Chicago
Illinois: Warren
Lake Worth National Bank
The Southern National Bank of
Central National Bank in Chicago
The Cosmopolitan National Bank of
Madison Crawford National Bank of
The Citizens National Bank of
6-1-36
11-12-36
7-31-36
7-27-36
1-2-36
4-18-36
State banks members Federal Reserve System
Wisconsin:
Viroqua
The State Bank of Viroqua
7-20-36
Banks not members Federal Reserve System
a
9
10
11
12
13
41110
15
16
17
18
19
Alabama: Grove Hill
California: San Pedro
Florida: Auburndale
Florida: Daytona Beach
Florida: Miami
Florida: New Smyrna
GeorEia: Dawson
Illinois: Mount Carmel
Iowa: Algona
Iowa: Chelsea
Iowa: Lamoni
Iowa: Livermore
20
Iowa:
21
Minnesota: Argyle
Mississippi: Brookhaven
Montana: Belt
Nebraska: Fairbury
Nebraska: Mullen
Oklahoma: Claremore
25
26
27
28
29
30
31
32
22
Mason City
OreEon: Bend
Tennessee: Morristown
Texas: Baytown
Washington: Sequim
West Virginia: Pennsboro
Linr,,sotn: Dulth
1050
A 8-1-36
/ 1-8-36
1154
8-5-36
1451
12-8-36
10-27-36 1380
49','
1-25-36
1069
7-10-36
(opened
Security Bank of Mount Carmel
11-18-36 1434
Security State Bank
4-20-36
758
Chelsea Savings Bank
10-19-36 1329
449
State Bank of Lamoni
1-1.4-36
Livermore State Bank
2-11-56
597
(opened 1-15-36
II
1286
United Home Bank and Trust Company
9-11-36
(opened 8-29
-36)
Ii
Argyle State Bank
6-27-36
99.2
1083
State Bank and Trust Company of
8-5-36
631
Belt Valley Bank
3-14-56
946
The Fairbury State Bank
7-20-36
494
Bank of Mullen
1-23-36
1012
Rogers County Bank
7-9-36
(opened 1-4-36)
Bank of Bend
10-26-36 1453
99!
Bank of Commerce
8-1-36
948
Peoples State Bank of Baytown
5-28-36
Bank of Sequim
10-26-56 1470
1509
The Community Bank
12-3-56
1699
The First Bank of Grove Hill
Fishermen and Merchants BankC/,
Peoples Bank of Auburndale
Industrial Savings Bank at
American Bank and Trust Company
Bank of New Smyrna
Bank of Terrell
c'
LllUth
•
busIrtnss
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
crips,
(' to i
orrls
Co-r-Th
h 4 C!'
n.
ernt -;r1.
•
2
110 Location
•
Name
Date
REOPENINGS OF OR SUCCESSORS TO CLOSED BANKS
•
60
61
82
63
Ohio:
Ohio:
Ohio:
Texas:
Bankl not RapsI]mnp. Federal Reserve System
The Gibsonburg Banking Company
The Holgate State Bank
Minerva Banking Company
Grayson County State Bank
Gibsonburg
Holgate
Minerva
SHerman
1-30-36
5-11-36
4-3-36
3-14-36
434
632
592
693
REGULARLY OPERATING UNDER GENERAL BANKING LAWS
AND ADMITTED TO INSURANCE WITHOUT REORGANIZATION
Admitted to Federal Eeserve System
358 Michigan: Mt. Clemens
3
Washington: Pomeroy
Mt. Clemens Savings Bank
Pomeroy State Bank
8-31-36
1-18-36
Banks not members Federal Reserve System
361
362
363
364
365
366
3
40
30
371
372
373
374
375
376
377
378
379
Ilp
382
383
385
386
387
388
389
390
391
0
Georgia: Comer
Geor6ia: Summit
Georgia: Unadilla
Iowa: Anita
Iowa: Aurelia
Iowa: Mitchellville
Iowa: Red Oak
Iowa: Rock hapids
Iowa: Sioux Rapids
Kansas: Effingham
Kansas: Herndon
Kansas: Herndon
Kansas: Kackley
Kansas: Ludell
Kansas: McLouth
Kansas: Ransom
Kansas: Troy
Minnesota: Lake Elmo
Tissouri: Wyaconda
Montana: Cut Bank
Nebraska: Randolph
Oklahoma: Anadarko
Pennsylvania: Woodbury
Texas: Brookshire
Texas: Gladewater
Texas: Groesbeck
Texas: Kopperl
Texas: Marion
Texas: Round Rock
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Rowe Banking Company
Durden Banking Co., Inc.
Exchange Bank of Unadilla
Anita State Bank
The First Trust and Savings Bank
Farmers Savings Bank
Red Oak Trust and Savings Bank
Rock Rapids State Bank
First State Bank
The Farmers and Merchants State Bank
The First State Rank
State Bank of Herndon
Kackley State Bank
The Iarmers btate Bank
The Bank of McLouth
The Farmers State Bank
The Troy State Bank
State Dank of Lake Elmo
Peoples Bank of Wyaconda
Bank of Glacier County
First State Bank of Randolph
Anadarko Bank and Trust Co.
Farmers State Bank
Farmers State Bank
The First State Bank
The Farmers State Bank of
Kopperl State Bank
The Marion State Bank
Farmers State Bank of Round Rock
1-16-36
1-15-36
2-11-36
10-31-36
10-51-36
8-20-36
5-28-36
10-8-36
3-24-36
5-14-36
1-23-36
4-29
-36
II
6-27-36
2-11-36
3-14-36
11-7-36
2-11-36
12-19-36
8-24-36
7-28-36
3-14-36
2-11-36
11-7-36
3-14-36
4-7-36
3-14-36
2-11-36
2-28-36II I
1-23-36
446
4I
448
457
1421
1213
944
1181
721
897
493
845
899
544
657
1452
54II
1313
1184
1126
658
547
1483
659
760
660
634
548
495
•
-3
•
Location
•
Name
Date
REGULARLY OPERATING UNDER UNFRAL BANKING LAWS AND
ADMITTED TO INSURANCE WITHOUT REORGANIZATION (Continued)
•
Banks not members Federal Reserve System (Continued)
Texas: Stockdale
Virginia: Speedwell
West Virginia: Terra Alta
Wisconsin: Reedsburg
396 Virgin Islands: St. Thomas
Security State Bank
Bank of Speedwell, Inc.
Terra Alta Bank
farmers and Merchants Bank/
Virgin Islands National Bank
1-31-36
2-24-36
1-16-36
5-29-36
5-5-36
OPERATING UNDER RESTRICTIONS AND REORGANIZED
AT TIME OF ADMISSION
Banks not members Federal Reserve System
Maine: Houlton
•
399 New Jersey: Hawthorne
400 West Virginia: Gassaway
401 Vest Virginia: Moundsville
402 West Virginia: Summersville
Houlton Trust Company
Peoples Bank of Hawthorne
Bank of Gassaway
Marshall County Bank
Nicholas County Bank
12-29-36 1600
692
7-8-36
6-30-36 1031
549
2-15-36
12-31-36 1604
PRIVATE BANKS INCORPORATED AND OTHER BANKS REORGANIZED
UNDER NEW CHARTERS AT TIME OF ADMISSION TO INSURANCE
•
357 Texas:
National banks
Seguin
The Nolte National Bank of Seguin
4-29-36
(formerly E. Nolte & Sons Bank of Seguin, private)
Banks not members Federal Reserve System
360 Georgia:
Arlington
Bostwick Banking Company
(formerly private bank with same name)
Red Oak
Houghton State Bank
(formerly H. C. Houghton's Bank, private)
Duluth
thiioctcrn Sthtc Bk e 14614th
1
5-2-36
44E
- 5-11-36
1124
Waynesville
11,aynesvil1e Security Bank
1-31-36
(forberly Waynesville State Bank, operating under restrictions)
384 Pemsylvania: h'artinsburg
Morrison's Cove Bank
5-4-36
(formerly private bank under same name)
543
387 Iowa:
•
i
398 Missouri:
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
45E
•
•
4
0 Location
•
Name
Date
TRUST COMPANY NOT DOING A DEPOSIT BUSINESS
Not members Federal Reserve System
356 Pennsylvania:
Scranton
Scranton-Lackawanna Trust Company
3-24-36
BANKS SUCCEEDING OTHER INSURED BANKS
National banks
407 Illinois: Chicago
The North Shore National Bank of
6-1F-36
(successor to Howard Avenue Trust and Savings Bank, insured bank not
member of the Federal Reserve System)
408 Illinois: Chicago
Upper Avenue National Bank of
7-31-36
(successor to The Upper Avenue Bank, State member Federal Reserve)
409 Illinois: Sterling
The Central National Bank of Sterling
11-2-36
(successor to Central Trust and Savings Bank, insured bank not member
of t
ral Reserve System)
et
:
vvlillF
f
it Illinois:
The First National Bank of "Tinnetka
10-31-36
(successor to State Bank of Winnetka, insured bank not member of the
Federal Reserve System)
411 Illinois: Zion
The Citizens National Bank of Zion
9-3-36
(successor to The First State Bank of Zion City, insured bank not member of the Federal Reserve System. Effective 9-18-36 Citizens National Bank of Zion changed title and location to Citizens National
Bank of Waukegan, Waukegan)
412 Ohio: Marysville
The First National Bank of Marysville
7-13-36
(successor to Marysville-Commercial Bank, State member Federal Reserve)
It Oklahoma: Clinton
First National Bank in Clinton
2-1-36
(successor to The First National Bank of Clinton)
415 Pennsylvania: Bradford
Citizens National Bank of Bradford
6-20-36
(formerly Deposit Insurance National Bank of Bradford, operated by the
Federal Deposit Insurance Corporation - capitalized and authorized
to become a regular national banking association)
414 Pennsylvania: East Pittsburgh First National Bank & Trust Company of 6-30-36
(successor to East Pittsburgh Savings and Trust Company, State member
Federal Reserve)
Texas: Amarillo
The American National Bank of Amarillo
1-11-36
(successor
to
American
State
Bank of Amarillo, insured bank not member
liii
of the Federal Reserve System)
253 Texas: Hondo
The Hondo National Bank
2-15-36
&
(consolidation under new charter of The First National Bank of Hondo
526
and the Hondo State Bank, insured bank not member of the Federal Reserve System)
416 Texas: Huntsville
The Huntsville National Bank
3-6-36
(successor to Huntsville Bank and Trust Company, State member Federal
Reserve System)
•
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
708
•
Location
-5-
•
Name
Date
BANKS SUCCEEDING OTHER INSURED BANKS (Continued)
State banks members Federal Reserve System
524
417
Michigan: Ann Arbor
Ann Arbor Savintis and Commercial Bank
2-18-36
(consolidation under new charter of the following three banks: Farmers
and Mechanics Bank, State member Federal Reserve System; First National Bank and Trust Company; Ann Arbor Savings Bank, insured bank
not member Federal Reserve System)
New Jersey: Glen Rock
Glen Rock Bank
2-7-56
(successor to Glen Rock National Bank)
Banks not members Federal Reserve System
418
419
420
421
215
4110
422
423
424
425
ft
427
428
518
Georgia: Pelham
Pelham Banking Company
12-9-36
(successor to First National Bank of Pelham)
Indiana: Edwardsport
Edwardsport Bank
12-28-36
(successor to The Edwardsport Bank, insured bank not member of the
Federal Reserve System)
Iowa: Lake Park
Security State Bank of Lake Park
3-24-56
(successor to The First National Bank of Lake Park)
9_8-36
Iowa: That Cheer
First State Bank of That Cheer
(Successor to the First National Bank in That Cheer)
Kansas: Almena
First State Bank
10-3-36
(successor to The First National Bank of Almena)
Kentucky: Frankfort
Farmers Deposit Bank
11-13-36
(consolidated with the Capital Trust Co., insured bank not member of
the Federal Reserve System - under title and charter of Farmers
Bank and Trust Co., insured bank not member of the Federal Reserve
System)
Minnesota: Appleton
Northwestern State Bank of Appleton
9-5-36
(successor to The First National Bank of Appleton)
Minnesota: Benson
The First State Bank of Benson
5-25-36
(successor to The National Bank of Benson)
Minnesota: Dawson
Northwestern State Bank of Dawson
8-31-36
(successor to The Northwestern liational Bank of Dawson)
Minnesota: Hancock
Hancock State Bank
12-12-36
(successor to Hancock National Bank)
Minnesota: Olivia
The Citizens State Bank of
4-18-36
(successor to Citizens National Bank of Olivia)
Minnesota: Paynesville
The First State Bank in Paynesville
12-21-56
(successor to First National Bank in Paynesville)
Minnesota: Winthrop
Winthrop State Bank
8-31-36
(successor to First National Bank in anthrop)
Nebraska: Stratton
Commercial Bank
9-2-36
(successor to Commercial Banking Comoany, insured bank not member of
the Federal Reserve System)
•
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
878
1650
722
1182
1312
1525
1106
879
1096
1601
523
1634
1125
1185
•
0 Location
-6
•
Name
Date
BANKS SUCCEEDING OTHER INSURED BANKS (Continued)
Banks not members Federal Reserve §:ystem
(Continued)
5-29-36 1029
State Bank of Morehouse
Missouri: Morehouse
(successor to Morehouse Trust Company, insured bank not members of the
Federal Reserve System. Insurance of successor bank effective 6-29-36)
9-14-36 1155
Bank of Wellsville
Missouri: Wellsville
511
(successor to fiellsville Bank, insured bank not member of the Fede-al
Reserve System, suspended 9-14-36f
3-2-36
North Carolina: iviount °live Bank of i'ount Olive
546
429
(successor to The First National Bank of Mount Olive)
Bank of Killdeer
7-1-36
North Dakota: Killdeer
926
430
(successor to The First National Bank of Killdeer)
First Internationl Bank
North Dakota: Minot
12-19-36 1569
525
(consolidated with 4 other banks undertitle and charter of American
State Bank of Minot, insured bank not member of Federal Reserve System)
Stock Growers Bank in Napoleon
North Dakota: Napoleon
12-7-36 1'87
431
(successor to The First National Bank of Napoleon)
477
Citizens State Bank
North Dakota: Neche
432
1-17-36
(successor to First National Bank in Neche)
North Dakota: New Rockford First State Bank of New Rockford•)1-2-36
433
(successor to First National Bank of N-w Rockfprd)
North Dakota: Williston
American State Bank of Williston
514
12-19-36 1570
(successor to The First International Bank of Williston, insured bank
not member of the Federal Reserve System)
1111 South Carolina: Johnston
The Johnston Bank
5-4-36
847
(successor to Johnston Cash Depository, insured bank not member of
the Federal Reserve System)
South Dakota: Gettysburg
Potter County Bank
434
9-21-36 1288
(successor to Potter County National Bank)
South Dakota: Oldham
The Oldham State Bank
435
11-2-36 1435
(successor to The Oldham National Bank)
Tennessee: Cumberland City Cumberland City Bank
528
7-3-36
1052
(consolidated with the Citizens Bank and Trust Co., insured bank not
member of the Federal Reserve System, nder title and charter of
Citizens-Cumberland City Bank, insured bank not member of the Fedheserve System)
Tennessee:
e: Donelson
Bank of Donelson
!
3-26-36
676
(successor to Donelson Bank and Trust Co., insured bank not member of
the Federal Reserve System)
Tennessee: Nashville
Nashville Trust Company
520
6-29-36 1053
(consolidated with the Nashville and American Trust Co. (doing only
a trust business) under name of Nashville Trust Company)
Texas: Borger
Panhandle State Bank
521
1-22-36
709
(successor to the First State Bank of Panhandle, insured bank not
member of the Federal Reserve System)
517
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
•
411
Location
-7-
•
Name
Date
BANKS SUCCEEDING OTHER INSURED BANKS (Continued)
Banks not members Federal Reserve _Iystem (Continued)
436
5_2_36
848
Texas: Mexia
Farmers State Bank in Mexia
(successor to Farmers State Bank, insured bank not member of the
Federal Reserve System)
Texas: Robert Lee
Robert Lee State Bank
12-10-56 1540
(successor to First State Bank, State member Federal Reserve System)
BANKS WITHDRAWN FROM FEDERAL RESERVE SYSTEM AND
READMITTED AS BANKS NOT MEMBERS OF THAT SYSTEM
Banks not members of the Federal Reserve :71yAem
437 Georgia: Reynolds
The Citizens State Bank
State Bank of Gibbon
438 Minnesota: Gibbon
0 Minnesota: Westbrook
Citizens State Bank of
North Carolina: Elizabethtown Bank of Elizabethtown
Baker State Bank
441 Oregon: Baker
Farmers State Bank
442 South Dakota: Winner
•
•
•
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
1-17-36
1-17-36
4-29-36
420
453
814
=36 1602
591
10-28-36 1436
•
•
•
•
•
•
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
4. Lstablishment and relocation of branches
a. 'iables 8 and 9 and text
b. 14st to support Table 8: Applications to establish
or relocate branches acted upon by the Corporation
during 193g
c. Supplementary table: Branches opened during 1936 by
banks members of the l'ederal heserve system
d. List to support Table 9: Number and deposits of operating insured commercial bunks establishing branches
or additional offices during 1966
•
•
APPLICATIONS TO ESTABLISH OR RELOCATE BRANCHES ACTED
BY THE FEDERAL DEPOSIT INSURANCE CORPORATION DURING
1936
Table 8.
UPON
INSURED BANKS NOT MEMBERS OF THE FEDERAL RESERVE SYSTEM
Approved
Opened
Not
Plan to
Disopened or
or reoperate
approved
located
relocated
branch
by Dec. 31, by Dec. 31, abandoned
,'
1936,
1936
Total
Total applications approved or disapproved
•
99
To establish new branches....
54
34
To replace unit banks with branches—
total
To convert absorbed insured bank into
branch
To convert absorbed noninsured bank
into branch
To replace suspended insured bank
27
20
24
17
1
2
2
18
14
To continue operation or chant& location of branches in operation—total
To retain branches in operation at time
of admission to insurance
To retain branches previously operated
by absorbed or succeeded Insured
banks
To change location of branches
19
4
10
2
8
5
6
7
5
6 1
2
—
'Inc udet
opened and operated for various periods of time prior to approval by
the Federal De==
iteli
li Corporstion; includes also I branch disapproved by the Federal Deposit Insurance Corporation in 1935
but approved upon reconsideration in 1936.
'In 3 of these cases the
in the other case the branch wasapproval of the Federal Deposit Insurance Corporation was rescinded;
operated for about two weeks and discontinued.
•
•
•
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
ESTABLISHMENT OF BRANCHES OR ADDITIONAL OFFICES
Applications approved by the Corporation. During 1936
the
Federal Deposit Insurance Corporation approved 91 applications
from banks not members of the Federal Reserve System to establish
or to relocate branches or additional offices. Eight applications were
disapproved. Approval of the Corporation is not required
for the
discontinuance of a branch or additional office.
Slightly over one-half of the applications acted upon were for
the
establishment of new branches or offices, that is, branches or offices
in
places where no banking offices previously existed or which increas
ed
the number of banking offices in the places in which they were
to
be located. The other applications dealt with conversions of absorb
ed
banks into branches or additional offices, retention of additio
nal
offices of absorbed banks, conversion of main offices into branch
es,
and the relocation of branches or additional offices. Further details
regarding these applications are given in Table 8.
The number of applications approved for the establishment or relocation of branches or additional offices differs from the number
actually established or relocated, due to the fact that in a number of
cases the offices approved had not been opened by the end of the year,
and in a few cases had been approved in 1935 or had been opened in
1935 prior to approval by the Corporation.
Other offices opened. Banks which are members of the Federal
Reserve System are not required to obtain the approval of the Federal
Deposit Insurance Corporation to open or relocate branches or additional offices. These banks opened nearly one hundred offices during the year, of which about two-fifths were new offices and about
three-fifths were conversions of absorbed banks.
I
LIST TO SUPPORT TABLE 8 - APPLICATIONS TO ESTABLISH OR RELOCATE BRANCHES ACTED UPON BY THE FEDERAL DEPOSIT INSURANCE CORPORATION DURING 1936
Identifying number
Approvedt
Bank
changes
record
Location
Date established
Branch at
Name
Date approved or
diAlApproved
Remarks
TO ESTABLISH BRANCH DE NOVO
To establish branch de novo:
?),f .
vi
,5
V)`te
b,
(
0
(11Y. (.1.1
tvc.
6f, 1,t3
b‘C
,
9
,
vk
111
.
rA3
6e, `10
ff. *\
\\A .'"\c‘
966
677
727
550
901
914
763
593
1385
1291
1070
1013
496
1098
1228
915
497
1292
Alabama: Decatur
California: Colusa
California: San Francisco
Indiana: Danville
Iowa: Armstrong
Iowa: Carroll
Iowa: Cedar Rapids
Iowa: Council Bluffs
Iowa: Elgin
Iows : Grinnell
Iowa: Humboldt
Independence
Iowa: Kellogg
Iowa: Maynard
Iowa: Toville
Iowa: Ottumwa
Iowa: Sharpsburg
Louisiana: Hammond
Tennessee Valley Bank
First Savings Bank of Colusa
San Francisco Bank
Danville State Bank
First Trust and Savings Bank
Commercial Savings Bank
First Trust and Sayings Bank
The State Savings Bank
Elgin State Bank
Grinnell State Bank
Humboldt Trust and Savings Bank
Farmers State Savings Bank
Kellogg Savings Bank
Maynard Savings Bank
First Trust and Savings Bank
First Bank and Trust Company
State Savings Bank
Guaranty Bank and Trust Company
Athens
Maxwell
Burlingame
Clayton
Fenton
Dedham
Ely
Henderson
Wadena
1.Ial corn
Badger
Winthrop
Sully
Hazelton
Lawton
Fremont
Clearfield
Ponchatoula
1229
799
Michigan:
Michigan:
Jackson City Bank and Trust Company
Peoples State Bank
109 Francis St., City
Rockwood
9-19-36
6-22-36
9-11-36
4-20-36
Mississippi: Gloster
North Carolina: Aurora
North Carolina: Bessemer City
North Carolina: Englehard
North Carolina: Newton
North Carolina: Smithfield
North Carolina: Smithfield
North Carolina: Sunbury
North Carolina: 7hiteville
Amite County Bank
Bank of Aurora
Bessemer City Bank
Englehard Banking and Trust Company
Farmers and Merchants Bank
The First Cltizens Bank and Trust Co.
The First Citizens Bank and Trust CO.
Farmers Bank of Sunbury
77accanaw Bank and Trust Company
Liberty
Bayboro
a. Holly
Columbia
den
Angier
Richlands
Winton
Rose Hill
10-3-36
7-1-36
9-22-36
12-1-36
12-21-36
10-1-36
11-23-36
7-1-36
6-15-36
9-11-36
5-14-36
9-19-36
10-26-36
12-14-36
9-19-36
10-26-36
5-34-36
5-14-36
Wisconsin: Chippewa Falls
Alsconsin: Phillips
Arkansas: Forrest City
Northwestern State Bank
State Bank of Phillips
Planters Bank and Trust Company
Cornell
Kerman
Cotton Plant
10-11-35
6-1-36
6-29-36
2-24-36
4-29-36
6-27-36
Arkansas:
Marked Tree Bank
Tyro nza
4-1-36
4-29-36
First State Bank
Linn Grove
4-4-36
3-24-36
‘Y.'61
411
1314
881
&.c0 1352
%4 1386
1573
1353
cf,c,C1 1367
tr,p4 916
tiv , V1 917
594
Ai 850
s4 )'(,5
849
tin 721
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Opened_ or relocated la December 31, 1936 (34)
Iowa:
Jackson
Trenton
Marked Tree
Sioux Rapids
To establish branch de novo:
1422
1571
694
1605
800
1367
Arkansas: Paragould
Indiana: LaGrange
Indiana: Linton
Iowa: Hanlontawn
Iowa: Waverly
Michigan: Lake Odessa
8-3-36
6-29-36
4-15-36
11-2-36
7-15-36
7-3-36
5-2-36
3-7-36
12-2-36
10-30-36
9-5-36
9-3-36
4-1-36
7-15-36
9-25-36
11-24-36
2-6-36
se remarks
6-11-36
3-14-36
3-24-36
2-11-36
5-14-36
5-14-36
4-7-36
2-24-36
10-26-36
9-11-36
7-10-36
6-27-36
1-23-36
7-10-36
9-11-36
5-14-36
1-23-36
9-11-36
Subject bank liA,d operated a temporary office at Ponchatoula
during previous summers
Application disappreieed in December 1935 (see ii378)
Approval of Teller's window as
opposed to branch
Conversion of Cotton Plant Banking
Co., Cotton Plant, a cooperative
bank, not included in our list of
noninsured banks
Branch replaces Tyronza Banking Co.,
rlyronza, which suspended 4-1-36; a
cooperative bank, not included in
our list of noninsured banks
Subject bank, fornerly First State
Bank, Linn Grove, applied to move
to Sioux Rapids and open branch in
itscformer location
Not opened or relocated la December 31, 1936 (10)
Security Bank and Trust Company
Farmers State Bank
Peoples Trust Company
Citizens :-Avings Bank
State Bank of Waverly
Union Bank
•,.arraduke
Topeka
Jasonville
Fertile
Shell Rock
Sunfield
10-26-36
12-14-36
3-14-36
12-14-36
4-20-36
9-25-36
A simultaneous application to establish a branch at Woodland was disroved
•
Identifying number
Bank
Approvadl
• chanEed
_record
Location
Name
Date established
Branch at
Date approved or
disa roved
Remark:=,
To establish branch de novo: Not opened or relocated by DeceMber 31, 1036 - continued
1186
1606
635
1225
•
- lichigan: Stambaugh
New York: Buffalo
Ohio: Kenton
Iowa: Diagonal
Commercial Bank of Stambaugh
Buffalo Industrial Bank
The Kenton Savings Bank
First State Bank
To establish branch de novo:
526
729
Iowa:
Center Point
Ohio:
London
Caspian
211 Cazenovia flt., City
Dunkirk
Shannon City
761
•
40
Arkansas:
imAcklo-Walker Bank and Trust Company
The London Exchange Bank Company
Dardanelle
California:
San Francisco
See remarks
1-31-36
Test Jefferson
3-24-36
Subject bank applied to move to Central City and open branch in its
former location. Entire program
abandoned. FDIC approval rescinded
4-29-36.
Subject bank absorbed by Madison
tional Bank of London, London Ohio
6-12-36. FDIC approval rescindec
8-13-36
Disapproved (8)
Bank of Dardanelle
Crawfordsville
10-26-36
Bank of America
El 7,onte
4-7-36
762
1290
728
1367
California: San Francisco
Indiana: Mndfall
Michigan: Howard City
Michigan: Lake Odessa
Bank of America
Union State Bank
Howard City State Dank
Union Bank
Inglewood
Kempton
Edmore
Wbodland
4-7-36
9-11-36
3-24-36
9-25-36
1055
1084
Michic,an:
Tennessee:
Farmers State Bank
Proposed new bank
Freeport
Newborn
6-27-36
7-10-36
Dyersburg
Subject bank is to succeed First
tional Bank of Diagonal, which ELL/sorbed First National Bank of Shannon City, 12-21-35
Plan to operate, branch abandoned (2)
To establish branch de novo:
1437
8-13-36
12-14-36
2-28-36
9-11-36
Subject bank's application to move t,
Earle, Ark. was also disapproved
Subject bank's application was submit
ted and again disapproved in Augus
1936 (See d1212)
A simultaneous application to establish a branch at Sunfield was approved
Proposed bank was to have succeeded
Newbern State Lank, Newborn Tenn. (N-M)
TO REI'LACE UNIT bi-LTIKS 7TITH BRILL CITES
To convert absorbed insured bank into branch:
Opened or relocated la December 31, 1936 (17)
Unit banks involved:
\'.S1
\,Scl
1572
1157
Indiana: North Vernon
Louisiana: Crawley
Union Bank and Trust Company
Bank of Commerce and Trust Company
Comiskey
Church Point
12-2D-36
7-1-36
12-14-36
7-31-36
160
\
1157
1402
Louisiana: Crawley
Maryland: Rockville
Rayne
7-1-36
7-31-36
C'IV-1\cl—
1484
New Jersey:
Bank of Commerce and Trust Company
Farmers Banking and Trust Co. of !dontgomery County
Union County Trust Company
Poolesville
Cranford
11-20-36
12-19-36
10-26-36
11-7-36
(S,
(
1653
New York;
_ACV
Banco di Napoli Trust Company
487 Broadway, N. Y.
12-31-36
12-22-36
t)(,
995
New York:
Pochester
Union Trust Company
Palmyra
7-1-36
6-11-36
York
G,
1255
North Carolina:
Boone
Watauga County Bank
13lowi rig Rock
10-1-36
9-11-36
817
SVAl.1 1293
North Carolina:
North Carolina:
Durham
Halifax
Durham Loan and Trust Company
Bank of Halifax
Hillsboro
Littleton
5-1-36
9-21-36
4-20-36
9-11-36
by.1(,,L
•
Elizabeth
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Citizens Bank, Comiskey, Ind. (NM)
Farmers Bank a: Trust Co., Church
Point, Louisiana (NM)
Rayne State Bank, Rayne, La. (NM)
Poolesville Bank, Poolesville, 1.T. (NM)
The First National Bank of Cranford,
Cranford, N. J. (N)
Bank of Sicily Trust Co., New York,
(rli)
Wayne County Trust Co., Palmyra, N. Y.
Bank of Blowing Rock, Blowing Rock, N. D
(NM)
Bank of Orange, Hillsboro, N. C.
Bank of Littleton, Littleton, N.C. (111,I)
•
•
•
Identifying number
Bank
ApproveM
changps
record
Location
Name
To convert absorbed insured bank into branch:
Branch at
Date established
Date approved or
disapproved
Remarks
Opened or relocated Ix December 31, 1936 - continued
Unit banks involved:
John Day
1655
Oregon:
1657
Virginia:
1454
Wisconsin:
Alma
498
Wisconsin:
Fall River
436
1014
1230
Wisconsin:
Wisconsin:
7iisconsin:
New Auburn
Pewaukee
Sparta
Madison
Grant County Bank
Prairie City
1-2-36
12-22-36
State Bank of Uadison, Incorporated
Rapidan
9-12-36
12-22-36
American Bank
relson-
10-13-36
10-26-36
. 12-19-35
1-23-36
First National Bank of Prairie City,
Prairie City, Ore. (N)
State Bank of Rapidan, Inc., Rapidan,
Va. (NM)
First National Bank of Nelson, Nelson,
(iT)
First State Bank of Rio, Rio, Vas. (IYI)
10-24-35
6-20-36
8-28-36
1-11-36
6-27-36
9-11-36
Bank of Sand Creek, Sand Creek, Ms. (NM)
Brookfield State Bank, Brookfield,lis.MO
Wilton State Bank, Wilton, Wis. (NIT)
7-28-36
6-11-36
Athens State Bank, Athens,
(NE)
Park Trust Co., Weehawken, Y. J. (NM)
Trust Company of New Jersey, lest Yew
York, N. J. (NM)
Bank of Onslow, Jacksonville, N.C. (NM)
First National Bank of Parkers Landing,
Parkers Landing, Pa., (N)
•
Ic) /141
\r\\
, \r\ 1)
Rio-Fall River Union Bank
(Formerly First State Bank)
Bank of New Auburn
Pewaukee State Bank
Bank of Sparta
Rio
Sand Creek
Brookfield
Milton
oeiL
To convert insured bank into branch:
•
Not opened or relocated
1107
968
968
'tichigan: Tiendon
Hew Jersey: Jersey City
New Jersey: Jersey City
First State Bank of Mendon
Trust Company of New Jersey
Trust Company of New Jersey
1654
1542
icorth Carolina: Smithfield
'Pennsylvania: Foxburg
The First Citizens Bank and i.rust Co.
Foxburg Bank and Trust Comoany
To convert absorbed insured bank into branch:
•
1656
Virginia:
1108
Wisconsin:
Bowling Green
Mondovi
1156
Iowa:
Somers
Mndovi State Bank
Gilmanton
Somers Savings Bank
6-11-36
12-22-36
12-3-36
Plan to operate branch abandoned (2)
Port Foyal
To replace suspended insured bank:
•
Athens
776 Park Ave., Weehawken
619 Dergenline Ave.,
Test New York
Jacksonville
Parkers City Borough
Union Bank and Trust Company
To convert absorbed noninsured bank into branch:
b‘( 15i
a December 31, 1936 (5)
12-21-36
12-22-36
(disc. 12-31-36)
7-28-36
Port Royal 'Bank, Port Royal, Va. (NM)
absorbed 12-21-36
Plan to absorb Gilmanton State Bank, Gilmanton, Wis.(NM) abandoned when Gilmanton stockholders voted against it.
FDIC approval rescinded 10-26-36
Opened or relocated 2/
Lecemirer 31, 1936 (1)
Callender
9-19-36
7-31-36
Callender Savings Bank, Callender,
The Union State Bank, Crothersville, Ind.
(N4 - suspended 12-7-36
Citizens State Bank, Palmyra, Ind.
suspended 12-7-36
Opened or relocated .12/ December 31, 1936 (2)
N, tato
1630
Indiana:
Brownstown
Brownstown Loan and Trust Company
Crothersville
12-22-36
12-15-36
By. LI
1631
Indiana:
Corydan
Corydon State Bank
Palmyra
12-17-36
12-15-36
TO CONTINUE OPERATION OR CHANGE LOCATION OF BRANCHES IN OPERATION
To retain branches in operation at time of admission to insurance:
Opened or relocated by December 31, 1936 (6)
Insurance
effective
bV. 10
CI)it t.1
Uf,),...,
A
1213
Iowa:
Mitchellville
Farmers Savings Bank
1181
Iowa:
Rock Rapids
Rock Rapids State Bank
•
1T0TEi
Hourhton State Bank
•
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
I.
_'ondurant
Ira
Alvord
Doon
Inwood
Little Rock
Remarks
8-20-36
8-13-36
10-8-36
8-12-36
Red Oak * Ioma * with branches at Elliott and Stanton
was admitted t° insurance effective 7-28-36
The
*retention
of it s b ranches was not specifically approved.
•
•
Identifying number
Bank
Approval'
_record
chanzes
Name
Location
To retain branches previously operated
122:absorbed
Date approved or
disapproved
Branch at
or succeeded insured banks:
Remarks
Opened or relocated lz December 31, 1936 (6)
Absorbed or
succeeded
Q3kf . kT)`',
New York
1653
New York:
1435
South Dakota:
1658
Wisconsin:
Oldham
Cambria
The Oldham State Bank
12-31-36
2118 Broadway, N.Y.C.
196 First Ave., Y.Y.C.
590 E. 187th St., Bronx
2059 Fulton St.,Brooklyn
11-2-36
Ramona
Cambria State Bank
Pardeeville
Banco di Napoli Trust Company
To retain branches previously operated by absorbed or succeeded insured banks:
968
New Jersey:
Jersey City
•
Trust Company of New Jersey
12-1-36
12-22-36
Branches formerly operated by Bank
of Sicily Trust Company, Few York
( '- 1) absorbed 12-31-36
10-26-36
Branch formerly operated without authorization by Oldham National Bank,
Oldham, S. D. (r) succeeded 11-2-36
Branch formerly operated by Bank of
Cambria, Wis. (NM) absorbed 12-1-36
12-22-36
Not opened or relocated by December 31, 1936 (1)
720 Park Ave.X. New York
6-11-36
s2.12
1 or relocated la December 31, 1936 (2)
To change location of branches: 9
Change effective
•
499
New York:
New York
Morris Plan Industrial Bank of 'Taw York
967
Michigan:
Detroit
Industrial Morris Plan Bank
To change location of branches:
1541
•
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Michigan:
Michigan:
1510
New York:
Industrial . orris Plan Bank
Detroit
Industrial Morris Plan Bank
Food Dealers Industrial Bank
-
1-23-36
6-15-36
6-11-36
From: Jefferson and
Lenox Sts., City
To: Jefferson and
Coplin Sts., City
From: Gratiot and
McLellan Sts.,City
To: Gratiot and Pi-nnsylvanla Sts., City
12-3-36
From: 4502 13th Ave.,
City
To: 4312 13th Ave.,
City
11-1966
Code for class of bank
N
SU
NIA
NI
4-27-36
Not opened or relocated la December 31, 1936 (3)
i)etroit
Brooklyn
From: 92-32 Unionhall St., Jamaica
To: 92-34 New York
Blvd., Jamaica
From: Warren and
McGraw Ave., City
To: Fenkell and Petoskey Ave., City
National bank
State bank member -ederal Reserve System
State bank not member Federal Reserve System
Noninsured bank
12-37,6
Branch operated by Trust Co. of New
Jersey in ':lest New York, N. J. (F:)
S
•
BRANCHES OPENED DURING 1936 BY BANKS MEMBERS
OF THE FEDERAL RESERVE SYSTEM
(to support text paragraph entitled, "Other offices opened")
Number
New branches established loa:
National banks
State banks members of Federal Reserve System
34
16
Banks converted into branches:
•
Of national banks
Of State banks members of Federal Reserve
System
Total
•
•
•
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
44
12
106
For the names of the branches and of the banks establishing
them see list to support Table 102c, "Changes in the number
of branches of commercial banks and in the number of multipleoffice banks in the United States and possessions during 1936,"
in Part 12 of this binder.
•
•
•
•
NUMBER AND DEPOSITS OF OPERATING INSURED COMMERCIAL BANKS
ESTABLISHING BRANCHES OR ADDITIONAL OFFICES
DURING 1936
(Deposits in thousands of dollars)
Number of banks with I Deposits at mums
ratio of total capital
ratio of total capital
account to total deposits of-i account to total deposits of-.
Less than
le percent
10 percent I or more
All insured commercial banks
•
•
•
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Lass than
10 percent
10 percent
or more
36
75
3,371,279
1,407.362
Members F. R System
National
State
14
7
15
15
1,875,462
1,290,704
972,929
323,789
Not members F. R. System
15
45
205,113
110,644
Policy governing establishment of branches or additional
offices. Upon receipt of an application to establish a branch or
additional office the Corporation first satisfies itself that such establishment is authorized by law and has the approval of the proper
State supervisory authority. These conditions having been complied
with, the Corporation is required by the deposit insurance law to
deal with the application on its merits, giving due consideration to the
same factors governing action on applications of banks for admission
t o insurance, and paying particular attention to the adequacy of the
capital structure of the applicant bank, the prospect of profitable
operation of the branch, and the needs of the community.
The Corporation believes that no bank should be allowed to establish a branch or additional office which, in addition to the minimum
requirements specified in the law, does not have the minimum capital
desired by the Corporation. The Corporation insists that unit banks
adhere to such standards and believes that no discrionination should be
made with regard to its standards as between unit banks and multipleoffice banks. Divided responsibility makes it difficult at times,
however, for the Corporation to adhere strictly to its policy without
subjecting some banks to discrimination. During the year 101
branches or additional offices were opened or acquired by 36 insured
banks whose capital did not satisfy the minimum established by
the Corporation. Table 9 shows for each class of insured bank
the number of banks opening or acquiring branches or additional
offices during 1936 grouped according to whether or not the banks
had a total capital account equal to not less than 10 percent of total
deposit liabilities.
•
Divided supervisory authority leads to progressive lowering of
standards which may have serious consequences as banking operations
become more profitable and pressure for opening new banking offices
becomes greater. In order to avoid such a developmerkt the Corporation recommends that, should Congress consider making any changes
in Federal legislation relating to branch banking, specific attention
be given to the requirements relating
to capital of banks operating
branches. The Corporation recommends that in addition to existing
legal minimum requirements an insured bank contemplating the
establishment of a branch should be required to have such minimum
FEDERAL DEPOSIT INSURANCE CORPORATION
26
capital as the Federal Deposit Insurance Corporation may prescribe.
The minimum t3 be prescribed by the Corporation should hear a
reasonable relation to the liabilities and other obligations and responsibilities of the banks, having due regard for the quality and character
of the banks' assets.
LIST TO SUPPORT TABLE 9
NUMBER AND DEPOSITS OF OPERATING INSURED COMMERCIAL BANKS
ESTABLISHING BRANCHES OR ADDITIONAL OFFICES DURING 1936
(Deposits in thousands of dollars)
Total
.deposits
•
Total
capital
account
Percentage
ratio
total capital account
to ducisits
National banks with ratio of total capital account
to .depgsits of less than 10 ycent
Total (14)
Arizona: Phoenix
Valley National Bank of Phoenix
1,875,462
32,528
2,573
7.9
7,392
712
9.6
1,298,977
108,139
8.5
19,167
1,295
6.8
5,934
471
7.9
185,233
12,694
6.9
12,260
1,159
9.5
735
67
9.1
Nevada: Reno
First National Bank in Reno
22,611
1,191
5.3
Oregon: Portland
First National Bank of Portland
87,367
6,972
8.0
113,913
9,299
8.9
Pennsylvania: Uniontown
Second National Bank of Uniontown
9,764
951
9.7
South Dakota: Sioux Falls
Northwest Security National Bank
10,154
967
9.5
Washington: Seattle
National Bank of Commerce
69,428
6,123
8.8
580,651
63,952
11.0
207,954
22,106
10.6
Arkansas: Texarkana
State National Bank of Texarkana
California: San Francisco
Bank of America National Trust and Savings Ass'h.
•
Idaho: Boise
The Idaho First National Bank of Boise
Idaho: Lewiston
First National Bank of Lewiston
Maryland: Baltimore
First National Bank of BalTAmore
Kalamazoo
echigan:
First National Bank and Trust Company of Kalamazoo
Michigan: St. Ignace
First National Bank of St. Ignace
111
Oregon: Portland
United States National Bank of Portland
Optional banks with ratio of total capital account
to deposits of 10 percent or more
Total (15)
alifornia: Los Angeles
Security First National Bank of Los Angeles
California: San Francisco
Anglo-California National Bank
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
972,99
2
Total
capital
account
Percentage
ratio
total cap!tal account
to deposits
28,062
3,706
13.2
29,653
3,556
12.0
Indiana: Mishawaka
The First National Bank of Mishawaka
6,565
672
10.2
Louisiana: Monroe
Ouchita National Bank in Monroe
5,531
636
11.5
9,062
1,279
14.1
11,182
1,330
11.9
5,728
1,082
18.9
2,550
423
16.6
58,703
7,728
13.1
10,546
1,198
11.3
544
121
22.2
11,342
1,139
10.0
4,855
845
17.4
271,548
23,660
8.7
12,790
1,224
9.5
133,044
6,600
5.0
22,986
1,767
7.7
Total
deposits
Ailaional banks with ratio of total capital account
to deposits of 10 percent or more (continued)
Connecticut: New Haven
First National Bank and Trust
Company
Indiana: Indianapolis
The Merchants National Bank
Everett
lipassachusetts:
Middlesex County National Bank
Michigan: Port Huron
First National Trust and Savings Bank
New Jersey: Atlantic City
Boardwalk National Bank
New Jersey: Point Pleasant
Ocean County National Bank
"
kw York: Albany
National Commercial Bank and Trust Company
New York: Binghamton
First National sank of Binghamton
New York: Mahopac
Mahopac National Bank
Carolina: Greensboro
410OrthSecurity
National Bank
Pennsylvania: Wilmerding
First National Bank of Wilmerding
State member banks with ratio of total capital account
to deposits of less than 10 percent
Total (7)
California: ban Francisco
American Trust Company
Ann Arbor
410pichigan:
Ann Arbor Savings and Commercial Bank
Michigan: Detroit
The Detroit Bank
Ill
ichigan: Flint
Citizens Commercial and Savings Bank
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
1,290,704
3
•
Percentage
ratio
total cap!tal account
to deposits
Total
deposits
Total
capital
account
631,406
58,391
9.2
167,683
16,599
9.9
51,247
4,403
8.6
15,155
1,521
10.0
9,061
1,087
12.0
4,129
594
14.4
86,741
9,412
10.9
8,905
1,016
11.4
New Jersey: Camden
Camden Safe Deposit and Trust
25,320
3,812
15.0
New Jersey: Montclair
Montclair Trust Company
14,133
1,712
12.1
6 Jersey: Newark
Columbus Trust Company
2,283
459
20.1
New York: Binghamton
Marine Midland Trust Company
7,717
1,185
15.3
New York: New York
Clinton Trust Company
7,294
1,147
15.7
109,218
14,142
13.0
New York: New York
Pan American Trust Company
2,210
759
34.3
Ithaca
1106 York:
Tompkins County Trust Ldompany
9,470
1,013
10.7
13,201
2,286
17.3
8,952
983
10.9
State member banks with ratio of total capital account
to deposits of less than 10 percent (continued)
Am
1116 York: New York
Manufacturers Trust Company
New York: Buffalo
Marine Trust Company of Buffalo
Virginia: Richmond
State Planters Bank and Trust Company
State member banks with ratio of total capital account
Lt,.2 deposits of 10 percent or more
Total (15)
323,739
lik
alifornia: Long Beach
Farmers and Merchants Bank of Long Beach
California: Salinas
Monterey County Trust and SavinFs Bank
Maine: Bar Harbor
Bar Harbor Banking and Trust Company
Massachusetts: Boston
State Street Trust Company
411
Michigan: Jackson
Jackson City Bank and Trust Company
110
New York: New York
Marine Midland Trust Company of New York
New York: White Plains
County Trust Company
Ill
isconsin: Sheboygan
Citizens State Bank
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
•
4
Total
Total
capital
deposits
account
Percentage
ratio
total capital account
to deposits
Not members Federal Reserve System with ratio of
toapital account to deposits of less than 10 percent
Total (15)
205,113
Arkansas: Marked Tree
Marked Tree Bank
640
50
7.8
193
9.5
156,806
14,574
9.5
Iowa: Carroll
Commercial Savings Bank
878
62
7.1
Iowa: Hospers
Hospers Savings Bank
488
41
8.4
Iowa: Humboldt
Humboldt Trust and Savings Bank
1,391
120
8.6
Iowa: Independence
Farmers State Savings Bank
1,860
145
7.8
282
27
9.6
1,398
138
9.9
New York: New York
Banco di Napoli Trust Company
18,747
1,759
9.4
North Carolina: Smithfield
First Citizens Bank and Trust Company
17,346
1,532
8.8
North Dakota: Minot
American State Bank
546
51
9.3
Wisconsin: Alta
American State Bank
872
71
8.1
Wisconsin: Pewaukee
Pewaukee State Bank
586
44 •
7.5
California: Colusa
First Savings Bank of Colusa
California: San Irancisco
San Francisco Bank
0
ra: Somers
Somers Savings Bank
4Ip
Maryland: Rockville
Farmers Banking and Trust Company of Montgomery County
40
Wisconsin: Sparta
Bank of Sparta
2,025
112
9.0
2,677
297
11.0
Arkansas: Forrest City
Planters Bank and Trust Company
799
81
10.1
Indiana: Brownstown
Brownstown Loan and
641
84
13.1
1,248
AO members Federal Reserve SLy_p_tem with ratio of
capital account to deposits 10 percent or more
ow_
110,644
Total (45)
Alabama: Decatur
Tennessee Valley Bank
0
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
rust Company
Total
deposits
•
Total
capital
account
Percentage
ratio
total capital account •
to deposAts
Not members Federal Reserve System with ratio of total capital account to deposits 10 percent or more (continued)
Indiana: Corydon
Corydon State Bank
922
111
12.0
Indiana: Danville
Danville State Bank
332
50
15.1
Indiana: North Vernon
Union bank and Trust Company
992
145
14.6
Iowa: Armstrong
First Trust and Savings Bank
376
39
10.4
1,039
125
12.0
1,635
187
11.4
Iowa: Elgin
Elgin State Bank
406
45
11.1
Iowa: Grinnell
Grinnell State Bank
766
79
10.3
Iowa: Kellogg
Kellog Savings Bank
564
60
10.6
4106: Maynard
Maynard Savings Bank
234
36
15.4
Iowa: Mitchellville
Farmers Savings Bank
250
31
12.4
Iowa: Neville
First Trust and Savings Bank
330
38
11.5
a: Ottumwa
First Bank and Trust Company
1,617
441
27.2
Iowa: Red Oak
Boughton State Bank
539
63
11.7
Iowa: Sharpsburg
State Savings Bank
164
33
20.1
Iowa: Sioux Rapids
First State Bank
281
35
12.5
Iowa: Teeds Grove
Teeds Glove Savings Bank
223
24
10.8
3,397
483
14.4
Michigan: Trenton
Peoples State Bank of Trenton
649
105
16.2
lifhigan: Warren
State Savings Bank of
489
53
10.8
537
59
11.0
0
Iowa: Cedar Rapids
first Trust and
avings Bank
ira: Council Bluffs
State Savings Bank
L
Er
isiana: Crowley
Bank of Commerce and Trust Company
ar
dississippi: Gloster
Amite County Bank
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
arren
-6
S
t
Total
deposits
Total
capital
account
Percentage
ratio
total capital account
o deposits
Not members Federal Reserve System with ratio of tocapital account to deposits 10 percent or more (continued)
t Jersey: Elizabeth
Union County Trust Company
11,610
2,612
22.5
New York: Rochester
Union Trust Company
47,029
5,490
11.7
North Carolina: Aurora
Bank of Aurora
283
41
14.5
North Carolina: Bessemer City
Bessemer City Bank
252
42
16.7
North Carolina: Boone
Watauga County Bank
491
76
15.5
5,108
630
12.3
224
41
18.3
1,790
210
11.7
356
89
25.0
283
38
13.4
2,022
231
11.4
18,043
1,863
10.3
70
21
30.0
North Dakota: Center
First State Bank
77
30
38.9
North Dakota: Waille
McVille State Bank
82
19
23.2
North Dakota: Steele
Bank of Steele
189
21
11.1
Oregon: John Day
Grant County Eank
978
124
12.7
204
37
18.1
507
59
11.6
760
la.
13.8
427
44
10.3
40
North Carolina: Durham
Durham Loan and Trust-Company
North Carolina: Englehard
Englehard Banking and Trust Company
North Carolina: Halifax
Bank of Halifax
th Carolina: Newton
Farmers and Merchants Bank
Olir
North Carolina: Sunbury
Farmers Bank of Sunbury
North Carolina: Whiteville
Waccamaw Bank and Trust Company
North Carolina: Wilson
Branch Banking and Trust Company
IP
orth Dakota: Berlin
Farmers and Merchants State Bank
f
outh Dakota: Oldham
Oldham State Bank
South Dakota: Watertown
Farmers and Merchants Bank
11/
VirEinia: Madison
State Bank of Madison, Inc.
Wisconsin: Phillips
State Bank of Phillips
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
•
•
•
•
•
•
•
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
ASSUMPTION OF UNINSURED DEPOSITS
Release of restricted deposits. Under the revised deposit insurance law, insurance coverage is extended only to deposits made
available to depositors in the regular course of business. At the close
of 1935 about 50 insured banks held deposits which had been restricted
as to payment since the Banking Holiday of 1933, and which were,
therefore, ineligible for insurance. The release of these deposits must
be approved by the Federal Deposit Insurance Corporation in order
for them to become insured. During 1936 the Corporation approved
the applications of 18 insured banks to release $2.4 million of restricted
deposits to their owners. One application covering $50,000 of deposits was disapproved.
In addition, many insured banks requested the approval of the
Corporation for the payment of dividends on certificates of beneficial
interest issued to former depositors who had waived part of their
deposit claims in order to permit the banks to continue or resume
operations. In most cases the Corporation interposed no objection.
Assumption of deposits of noninsured banks. Any assumption of deposits of a noninsured bank by an insured bank requires the
approval of the Federal Deposit Insurance Corporation. During
1936 the Corporation approved 22 applications from insured banks
for permission to assume the deposits of noninsured banking institutions. Sixteen of these institutions were regularly operating commercial banks; the others included one bank operating under
restrictions, one mutual savings bank, one cooperative banking
company, one credit union and two closed banks. In 20 of these
cases the transactions were completed during 1936, in one case the plan
of absorption was abandoned and the approval of the Federal Deposit
Insurance Corporation rescinded, and in one case the absorption
had not taken place by the end of the year.
In three cases of absorption of noninsured banks by insured banks
the approval of the Corporation was not required, since in these cases
only assets of the absorbed bank were acquired, their deposit liabilities
being paid off in cash.
Assumption of deposits of insured hanks by noninsured
banks. No applications were received by the Corporation from
noninsured banks for permission to assume the deposit liabilities of
insured banks. In three cases, however, noninsured banks were organized for the purpose of succeeding to the business of insured
banks which went into voluntary liquidation. Inasmuch as the depositors were paid(ff by the insured banks and no contract of assumption was made the Corporation had no jurisdiction in these cases and
its approval was not required.
FEDERAL DEPOSIT INSURANCE CORPORATION
30
Assumption of deposits, and change of location, of insured
banks. The assumption of deposit liabilities of one insured bank by
another insured bank does not require the approval of the Federal
Deposit Insurance Corporation, but such assumptions in connection
with mergers or absorptions involving insured banks not members of
the Federal Reserve System are frequently referred to the Corporation for approval prior to consummation. In four such cases during
1936 formal approval was given by the Corporation. In eight cases
the Corporation approved changes in location of insured banks not
members of the Federal Reserve System.
5. Capital adjustments, deposit assumptions, and miscellaneous
actions
•
a. lale 10 and text
b. Table 10 with additional footnotes
c. List to support Table 10: Applications for retirement or
reduction of capital acted upon by the Corporation during 1936 (this list not prepared--tabulations made directly from journal of ‘dorporation actions)
d. List to support text: Assumption of deposits
Applications for release of restricted deposits
Applications for permission to assume deposits of
noninsured banking institutions
iii.iibsorptions of noninsured banking institutions
by insured banks without assumption of deposits
Noninsured banks succeeding insured banks
iv.
iipprovals of assumption of deposits of one
v.
insured bunk by another insured bank
Changes of location of insured bangs approved
vi.
i.
ii.
•
e.
•
•
•
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
List of insured banks with restricted deposits, December
31, 1935 and 1936
APPLICATIONS FOR RETIREMENT OR
REDUCTION OF CAPITAL ACTED
UPON BY THE FEDERAL DEPOSIT INSUR
ANCE CORPORATION DURING 1936
INSURED BANKS NOT MEMBERS OF THE
FEDERAL RESERVE SYSTEM
^
Table 10.
•
Number of banks
making application
Amount of retirement
or reduction
Approved' I Disapproved
•
Disappro v.,(1
Total
Capital obligations held by
the
struction Finance Corporation Recon(including
obligations held as collateral for loans):
To retire
To cancel commitment of RFC
To reduce par value (but not retireab
le value)
Preferred stock and debentures not
held by
the Reconstruction Finance
Corporation:
To retire.
To convert into common stock
To cancel stock or debentures
contributed
to bank
. .....
.
„ .
To reduce par value (but not
retireable value)
Common stock:
•
Approved
575
177
$29,774,229
$4,870,365
604
5
10
166
1
18,040,199
117,500
4,301,000
4,351,665
50,000
11
4
6
233,200
75,000
168,700
4
3
270,800
1,864,000
To reduce and disburse proceed
9
To reduce or cancel, with simultas
2
841,210
25,000
neous issue
of new stock or debentures
18
To roduc, capital stock and
2,524350
correct capital
impairment, eliminate losses,
or increase
reser‘es isurplus
32
2,007,o70
C75,0C)
2
- -_
'Includes approvals conditio
nal
upon
t
he
fulfillm
ent by the applicant banks of specified conditions.
In some !lows these
conditions were not fulfilled during 1936. Since
some applications for the regraneet
reduction of capital obligations
held by tie Reconstruction Finance Corporation and some applications
,
• ,,e(erred or common stock held by others, were made by the same hanks,
rnan tie sum of the figures in the column below.
CHANGES IN CAPITAL OF BANKS
•
•
•
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Capital retirements approved by the Corporat
ion.
1936 the Federal Deposit Insurance Corporation appro During
ved the
retirement by 504 insured banks not members of the
Federal Reserve
System of $18 million of preferred stock, capital notes, and
held by the Reconstruction Finance Corporation. ft.ppldebentures
ications of
166 banks to retire about $4 million of such capital oblig
ations were
disapproved. About half of the approvals of retirement
of Reconstruction Finance Corporation capital were made condi
tional upon
the issue of new preferred or common stock or upon
the writing off
of losses from the books of the bank.
The capital obligations retired amounted to 9 perce
nt of the total
amount of such obligations of insured banks
not members of the
Federal Reserve System held by the Reconstruc
tion Finance Corporation. At the close of the year that Corporatio
n Still held approximately $192 million of the capital obligation
s of these banks.
The Federal Deposit Insurance Corpo
ration also approved the
applications of 20 insured banks not memb
ers of the Federal Reserve
System to retire other capital obligation
s, or to reduce common stock
and disburse the proceeds, amou
nting to $574,000. In eight cases
applications for permission to make
such retirements or reductions
were disapproved. Appro
val was also given by the Corporation
to several applications for
cancellation or reduction of the value of
capital stock simultaneously
with the sale of new stock or with the
elimination of losses or incre
ase
of reserves or surplus on the banks'
books. Further details are
given in Table 10.
Repayment of contributions of stockholders,
direc
others. Many insured banks which were reorganized tors and
or received
contributions from stockholders or others when they
were reopened
after the Banking Holiday of 1933 have certificates of benefi
cial interest outstanding in favor of such contributors. While these
certificates of beneficial interest are usually carried in the bank's
condi
statement at a nominal value, they nevertheless usually carry tion
a prior
claim on part or all of the profits of the bank. Some retir
ements of
such certificates, and repayment of contributions or release
of directors' guaranties, occurred during the year.
No list to support Mble 10 h—o been t
O
•
LIST TO SUPPORT FIGUPES IN SECTION OF
PART ONE ENTITLED "ASSUMPTION OF UNINSURED DEPOSITS"
ber
bfirchanges
list
Location
Name
Date
Number
approvia
record
APPLICATIONS FOR RELEASE CIE RESTRICTED DEPOSITS (19)
Approved (18)
Illinois:
•
Lovington
- -4/ -
J.1
Massachusetts: Rockland
Amount $100,000
Rockland Trust Company
9-11-36
1284
Michigan: Tecumseh
Amount $1621188
Mississippi: Leaksville
Amouht $51200
United Savings Bank
6-11-56
989
Bank of leaksville
10-26-36
1468
Garfield Trust Company
9-11-36
1239
New Jersey: Garfield
Amount $15,000
4,
New Jersey: Moorestown
4,
/ • -7`
North Dakota: Gilby
Amount $3,365
First State Bank of
2-24-36
625
North Dakota: Heimdal
Amount $11,150
State Bank of Heimdal
7-10-36
1095
North Dakota: Scranton
Amount $40,000
Bank of Scranton
10-26-36
1388
Dime Savings Bank
1-11-36
489
South Carolina: Great Falls Bank of Great Falls
Amount $151000
2-24-36
624
South Dakota: Canova
Amount $101000
9-11-36
1309
2-24-36
625
Ohio:
•
Canton
Amount
1.4•08,760
Security State Bank
South Dakota: Colman
Dakota State Bank
(Formerly 4",t.aJfeply) Amount 30,660
•
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
2
•
Number
bank changes
Location
41
Name
Date
Number/
approva
record
Approved (Continued)
•
South Dakota: Ipswich
Amount $30,510
First State Bank of
1-23-36
520
South Dakota: Stockholm
Amount $14,094
Stockholm State Bank
9-11-36
1285
Tennessee: Mosheim
Amount
1 ,
West Virginia: Martinsburg
Amount $889,640
Mosheim Bank
10-26-36
1420
Peoples Trust Company
5-14-36
893
First State Bank
1-25-36
498
1-11-36
488
Colorado: Littleton
Littleton National Bank
To absorb Douglas County Bank, Parker
5-14-36
911
Iowa: Marion
The First National Bank
To absorb Marion Savings Bank, Marion
12-14-36
1598
Iowa: Randolph
Randolph State Bank
To absorb The Farmers State Bank, Strahan
2-11-36
588
Iowa: Somers
Somers Savings Bank
7-31-36
To absorb Callender Savings Bank, and establish branch
at Callender
1156
Wisconsin: Fall River
Amount I-122,000
Disapproved (1)
•
Massachus
ts:
W.8prin6field
,•
W.Springfield Trust Co.
APPLICATIONS FOR PERMISSION TO ASSUME DEPOSITS
OF NONINSURED BANKING INSTITUTIONS (22)
Approved and transaction completed
To absorb
Banks ooeratin
ill
ZIO
111
1 X.
410
in
1936 (20)
under ueneral bankiwr law (14)
A 11
Kansas: Kansas City
Home State Bank
To absorb Muncie State Bank, Muncie
4-29-36
843
wn,
Kansas: Lawrence
The First National Bank of
To absorb First Savings Bank, Lawrence
12-3-36
1567
Kansas: Ottawa
The First National Bank
To absorb The Lane State Bank, Lane
8-1',3-36
1209
Ll
-
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
- 3-
•
Number
changes
list
Location
•
Name
Date
Numberl
approv4a
record
To absorb banks operatiqL under general bankinc laws (Continued)
•
0
1011
Maryland: Baltimore
The First National Bank
To absorb Bank of Sparrows Point, Sparrows Point
12-17-36
1648
Michigan: Lansing
The Lansing National Bank
To absorb Peoples State Savings Bank
10-26-36
1450
Nebraska: Falls City
The Falls City State Bank
To absorb Nebraska State Bank, Falls City
2-24-36
626
New Jersey: Camden
Camden ''afe Deposit Tr. Co.
To absorb Haddonfield Trust Company
1-11-36
490
4-29-36
844
9-11-36
1510
Ohio: Canton
First Trust & Savin6s Bank
2-28-36
To absorb The Central Savings Bank & Trust Co, Canton
655
r.
.3
•
Maine: Bar Harbor
Bar Harbor Banking & Tr. Co. 6-11-36
To absorb Lubec Trust avid Bankine„
, Company, Lubec(
r
51
3 -X---->._ Texas: Seguin
Nolte National Bank of
To absorb E. Nolte & Sons, Unincorporated, Seguin
)ct;r1 Texas: Spearman
First State Bank
To absorb First State Bank, Gruver
To absorb
Banks oper
.ating. under restrictions (1)
..`g3-
To absorb
savinws banks (1)
Maryland: Baltimore
Equitable Trust Company
To absorb Broadway Savings Bank, Baltimore
9-25-36
1383
To absorb cooperative banking company (1)
Arkansas: Forrest City
Planters Bank & Trust Co.
6-27-56
1054
To absorb Cotton Plant Bkg. Co., Cotton Plant - establish branch at
To absorb Credit Union
•
Georgia: Morven
Citizens Bank of Morven
12-14-36
1629
To absorb Citizens Credit Union, Hahira and change location from
Morven to Hahira
To absorb closed banks (2)
Kentucky: Harlan
The Bank of Harlan
9-25-36
1376
To increase common capital from 450,000 to 475,000; to purchase
assets of First State Bank, Harlan (closed) and pay liquidating
dividend of above closed bank.
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
S
Number
changes
list
_
411"
Location
Date
Number(
approvala
record
3-24-36
755
Name
To absorb closed banks (Continued)
•
Pennsylvania: Bradford
Citizens National Bank of
To absorb McKean County Trust Company (Closed)
APPROVED BUT TRANSACTION NOT COMPLETED IN 1936 (2)
To absorb regularly operatirr. banks
Kansas: Winfield
Winfield National Bank
5-23-36
939
To absorb Bank of Commerce, Udall. Plan abandoned and approval
of the FDIC rescinded 8-13-36.
New York: Warsaw
Trust Co. of Wyoming County
12-22-36
To absorb the North Java Company, North Java. Absorption
occurred after close of year 1936.
1697
ABSORPTIONS OF NONINSURED BANKING INSTITUTIONS BY INSURED
BANKS ivITHOUT ASSUMPTION OI DEPOSITS (3)
111
Cooperative banki_m association
Arkansas: Foreman
Foreman Banking Company
12-12-36
Deposits paid in cash. Building acquired and branch opened,
with approval of FDIC, by the State National Bank, Texarkana.
Finance company or industrial bank chartered
under gen.eral incorporation law (L)
Tennessee: Jackson
Jackson Finance & Trust Co.
No deposits assumed. Loans acquired and made basis of
personal loan department by the First National Bank
of Jackson.
Private bank (1)
Texas: Troy
Citizens E-:Ichange Bank
1-25-36
Cash deposit to cover deposits. Assets acquired by the Farmers
State Bank, Temple (nonmember Federal Reserve)
•
NONINSURED BANKS SUCCEEDING INSURED BANKS (3)
ili? `1
Georgia: Hoschton
De La Perriere Bank
4-20-36
Successor to Bank of Hoschton (nonmember Federal Reserve)
South Carolina: Salley
The Bank of Salley
4-9-36
Successor to Salley Cash Depository (nonmember Federal Reserve)
‘‘,
•
Texas: Coleman
Coleman County State Bank
10-15-36
Successor to First State Bank, Valera (nonmember Federal Reserve)
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
•
4,Number
changes
•
5
Location
Name
Date
list
A8SUMPTION OF DEPOSITS OF ONE INSURED BANK BY ANOTHER INSURED
BANK FORMALLY APPROVED BY THE FEDERAL DEPOSIT INSURANCE CORPORATION
1-
1,
co 1
Number(
Approvda
record
(4)
Iowa: Charles City
Commercial Trust & Savings Bank 12-22-36
To assume deposits of Commercial National Bank of Charles City
1663
Michigan: Owosso
The State Savings Bank
To assume deposits of Citizens Savings Bank, Owosso
7-10-36
1105
Bank of Holden
Missouri: Holden
To assume deposits of First National Bank, Holden
3-14-36
707
Washington: Clarkston
State Bank of Clarkston
To assume deposits of Bank of Asotin County, Asotin
6-11-36
991
CHANGE OF LOCATION OF INSURED BANKS APPROVED BY THE
FEDERAL DEPOSIT INSURANCE CORPORATION (3)
•
Citizens Bank of Morven
Georgia: Morven
12-14-36
Former location and title: Hahira, Citizens Credit Union
Citizens State Bank of
Minnesota: St. James
Former location and title: Evan, State Bank of Evan
•
•
•
5-14-36
1629
895
Vergas State Bank
Minnesota: Vergas
10-26-36
Former location and title: LaPorte, First State Bank of
1469
Grand Rapids State Bank
Minnesota: Grand Rapids
Former location and title: Warba, Warba State Bank
9-21-36
1365
Missouri: Humansville
Humansville Bank
Former location and title: Polk, Bank of Polk
11-19-36
1524
North Dakota: Harvey
First State Bank
Former location and title: Silva, First State Bank
7-28-36
1141
Oklahoma: Davenport
The Security State Bank
Former location and title: Kendrick, Bank of Kendrick
6-27-36
1028
South Carolina: Ehrhardt The Enterprise Bank
1-11-36
Former location and title: Ehrhardt, The Enterprise Bank
491
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
•
•
LIST OF INSURED BANKS WITh RESTRICTED DEPOSITS
DECEMBER 31, 1935 AND 1936
This list includes banks reported by Mr. Ross as having restricted
deposits on December 31, 1935, and other banks which during 1936
asked for approval of release of restricted deposits
Location and name
of bank
Amount restricted
Dec. 51., 1955 1/
Total
$3,781,616 R
Alabama: Red Leaf
Peoples Bank of fied Leaf
Illinois: Lovington
Hardware State Bank
36,861 R
Not listed R
12-14-36
-rntucky: Morehead
411The Citizens Bank
174,341 R
Kentucky: Smiths Grove
The Deposit Bank of Smiths Grove
t
ssachusetts: Rockland
Rockland Trust Company
28,425 R
778,395 R
Not listed R
9-11-36
Massachusetts: West Springfield Not listed R
7iest Springfield Trust Company
F
Michigan: Flushing
Peoples State Bank
chigan: Tecumseh
United Savings Bank
Ei
6-11-56
Mississippi: Florence
Citizens Bank
23,594 R
Mississippi: Leakesville
Bank of Leakesville
20,202 R
Jersey: Garfield
'II
.Garfield Trust Company
New Jersey: Moorestown
Burlington County Trust Company
Alprth Dakota: Ashley
',Ashley State Bank
North Dakota: Berthold
Bank of Berthold
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Disapproved
1-11-36
50,000
Not listed R
101,044 R
gliew
100,000
67,476 R
Minnesota: St. Joseph
First State Bank
Mississippi: Pontotoc
Bank of Pontotoc
$1,500
24,643 R
Kentucky: Murray
Bank of Murray
Louisiana: Mansfield
De Soto Bank and Trust Co.
Release approved
by FDIC 1936_
Date
Amount
10-26-56
162,188
5,200
7,051 R
Not listed R
F
9-11-36
15,000
243,024 R
F
1-11-56
243,024
68,144 R
57,625 R
Amount restricted
Dec. 31 1956
2
•
Location and name
iv_ofbank
_
Amount restricteg
5 i
Dec. 51 193l
Release approved
by FDIC 1956
Amount
Date
North Dakota: Cummings
Cummings State Bank
10,799
R
F
North Dakota: Flaxton
Bank of Flaxton
12,811
R
North Dakota: Fordville
Farmers and Merchants State Bank
54,315
R
3,565
R
F
2-24-36
3,365
R
F
7-10-36
11,150
10-26-36
40,000
1-11-36
608,760
R
F
2-24-36
15,000
R
F
9-11-36
10,000
h
F
1-25-36
30,510
North Dakota: Gilby
First State Bank of Gilby
North Dakota: Heimdal
•State Bank of Heimdal
11,888
North Dakota: Lignite
First State Bank
17,860
R
North Dakota: Max
First State Bank
22,485
R
F
11,375
North Dakota: Minnewaukan
Farmers State Bank of Minnewaukan
R
4101orth Dakota: Minot
First International Bank
68,156
R
North Dakota: Noonan
First International Bank
31,250
R
North Dakota: Reynolds
The State Bank of leynolds
97,770
R
100,155
R
F
North Dakota: Scranton
ank of Scranton
W
North Dakota: Velva
Peoples State Bank of Velva
North Dakota: Williston
First International Bank
North Dakota: Wishek
First State Bank •
Ohio: Canton
Dire Savings Bank
Ohio: Elida
The Farmers Bank of Elida
12,104
R
178,205
R
27,296
R
608,748
R
F
40,432
R
0
South Caroliha: Great Falls
Bank of Great Falls
South Dakota: Canova
1111Security State Bank
South Dakota: Ipswich
First State Bank
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Not listed
Not listed
9,964
Amount restricted,
Dec. 31 1956 :4J
•
•
Location and name
of bank
4111Lh Dakota: Pollock
Pollock State Bank
Amount restricte
Dec. 31, 1935 1
Not listed R
F
South Dakota: tentworth
Wentworth Bank
Not listed R
Tennessee: Mosheim
Mosheim Rank
94,570 R
Tennessee: Sevierville
Bank of Sevierville
84,182 P
Wisconsin: Fall River
First State Bank
Amount restricteq
Dec. 4
)1936 gi
18,066 R
South Dakota: Stock holm
Stockholm State Bank
1lPest Virginia: Martinsburg
Peoples Trust Company
Release approved
by FDIC 1936
Late
Amount
Not listed R
F
9-11-36
14,094
2-24-36
30,660
10-26-36
89,281
5-14-36
889,640
1-23-Z6
122,000
Not listed R
•
1/
R - as reported by Mr. Ross (total number of banks 40)
F - as given in correspondence or examination file (total number of banks 48)
L/
As given in correspondence or examination files.
Dakota State 7:ank, Colman, (formerly at Wentworth).
•
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
S
6.
Number of operating banks and branches
a.
b.
•
c.
d.
e.
f.
•
g.
Table 15-17 and 19 and text; (notes retarding npnier and
classification) Tables 101-103
Table 19: Admissions to and terminations of insurance-with reference to list supporting Table 102
bupplementary Table: Number of commercial banks and
branches December 31, 1935 -- differences between
figures published in the 1935 and 1936 Annual Report
List to support revision of figures regarding number of
banks and branches December 31, 1935
Changes in number and classification of operating banks
Lists to support Table 102 (filed in binder Bank Changes
1936) Changes in number and classification of banks,
Changes in number and classification of branches, and
Changes among banks and branches by States
Dist to support footnotes to Table 102
NoTb:
Lists of changes among insured and noninsured
banks by btates are filed in the binder entitled
Bank Changes 19'66-37
h. IJists to support Table 103: (filed in binder kminsured
bunks and branches December 31, .1936) Noninsured banks
December 31, 1936, Branches of noninsured banks December 31, 1936
i.
7.
List to support Table 103: (filed in binder Location of
branches December 31, 1936) Branches of insured banks
December 31, 1936
Major factors in growth of deposits and assets
a. Table 21 and text
b. Supplementary table: Analysis of factors in the growth
of bank deposits and assets 1936 and 1935
•
•
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
1.iaroY‘t,
•
•
Types of commercial banking offices in operation. Of the
18,516 commercial banking offices in the United States and possessions, 14,257 were unit banks having one place of business, and 4,259
were offices of 894 banks accepting deposits at more than one place.
Of the 3,365 branches or additional offices 3,306 were located in the
continental United States. Of these 0,000 were located in the same
center as the head office, 000 were located outside the head office city
but in the same county, and 000 were located outside the head office
county. The figures are shown in Table 15.
Table 15.
•
NUMBER AND TYPE OF OPERATING COMMERCIAL BANKING
OFFICES IN THE UNITED STATES AND POSSESSIONS,
DECEMBER 31, 1935, AND DECEMBER 31, 1936
Dec. 31,
1936
Total banking offices
Unit banks
Banks operating more than one office
Branches or additional offices—total
In possessions
In continental United States—total
Located in head office city
Located elsewhere in head office county
Located outside head office county
•
•
Change
during
year
Dec. 31,
1985'
18,516
14,257
894
18,622
14,518
856
-106
261
+38
3,365
69
3,306
3,248
68
3,190
+117
+1
+116
— —
'Figures for 1935 have been revised since publication of the Annual Report of the Federal Deposit
Insurance Corporation for the year ending December 31, 1935.
NOTE: More detailed figures will be found in Tables 101-04, pages 98-113; and Tables 107,09,
pages 120-23.
Of the branches located outside the head office city 000 or 00
percent were in centers with no other banking office and 000 were in
centers with more than one banking office.
PARTICIPATION IN DEPOSIT INSURANCE
Number of operating insured and noninsured commercial
banks and banking offices. On December 31, 1936, the Federal
Deposit Insurance Corporation insured deposits in 13,973 commercial
hanks operating 17,234 offices. The number of insured banks in
operation was reduced by 153, or 1 percent, during the year. This
reduction reflected chiefly mergers and the conversion of unit banks
into offices of multiple-office banks. The number of offices of insured
commercial banks, including the offices of multiple-office banks,
showed little reduction during the year. The figures are shown in
Table 17.
Notwithstanding the reduction in number; the proportion of operating commercial banks insured by the Corporation increased from
91.9 percent at the beginning of the year to 92.2 percent at its close.
The number of noninsured commercial banks in operation was
reduced by 5.6 percent during the year, to 1,178 on December 31.
NUMBER OF OPERATING INSURED AND NONINSURED COMMERCIAL
BANKING OFFICES IN THE UNITED STATES AND POSSESSIONS,
DECEMBER 31, 1935, AND DECEMBER 31, 1936
Table 17.
•
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Dec. 31,
1986
Dec. 31,
1985'
Change
during
year
Number of banking offices
Insured
Noninsured
18,516
17,234
1,282
18,622
17,265
1,357
-106
-31
-75
Number of banks
Insured
Noninsured
15,154
13,973
1,178
15,374
14,186
1,248
- 223
-153
-70
'Figures for 1936 have been revised since publication of the Annual Report of the Federal Deposit
Insurance Corporation for th- year ending December Si. 1935.
NOTE: More detailed figures will be found in Table 101, pages 98-101.
111111110
•
•
A.
•
•
Changes in operating commercial banking offices during
1936. The trend toward multiple-office banking which has been in
existence since the beginning of the century continued during 1936.
The number of unit commercial banks in the United States and possessions was reduisced by 261 during- the year, while the number of
offices of multiple-office banks increased by 155. The proportion of
total banking offices operated by multiple-office banks increased
during the year from 22 to 23 percent. In 1925 only 11 percent of all
banking offices were operated by multiple-office banks.
Table 16.
grALYSIS OF CHANGES IN
OPERATI
NUMBER OF OFFICES 01'
COMMERCIAL BANKS IN THE UNITED STATES
AND POSSESSIONS DURING 1936
Total
offices
Net change during 1936
•
Banks beginning orierations and branches opened,
Trust company admitted to insurance
Banks converted into branches
Banks ceasing operations and branches discontinued—
total,
Suspensions
Mergers and consolidations, excluding banks converted
into branches
Voluntary liquidations
Branches otherwise discontinued
s
Banks
-I%
223
+117
+165
+1
+65
+1
-73
+100
-272
43
-216
43
-56
110
65
54
108
65
+78
'2
54
'Excluding banks succeeding, or succeeded by, other banks n- branches.
NOTE: More detailed figures will be found in Table 102, pages 102-08.
•
•
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
The total number of commercial banks in operation was reduced
by 223 during 1936. Excluding successions, 289 banks ceased operations or were converted into branches, while 65 new banks began
operations, and 1 trust company doing only a trust business was
admitted to insurance and thereby included in the tabulation of the
number of operating insured commercial banks at the close of the
year. Of the banks ceasing operations 43 suspended operations (excluding one suspended bank immediately succeeded by a new bank),
181 were eliminated through mergers, consolidations or conversions
into branches, and 65 went into voluntary liquidation. An analysis
of changes in the number of operating commercial banks and banking
offices in the United States and possessions is presented in Table 16.
•
•
Terminations of insurance. During the year 235
cxcluding those succeeded by other insured banks, insured banks,
account of suspension, absorption, consolidation, were closed on
or voluntary liquidation, and one bank withdrew from Federal
Reserve membership
without continuance of insurance. No banks were
expelled from
insurance by the Corporation.
•
Admissions to and terminations of insurance. The
total
number of banks admitted to insurance during 1936 was 135.
Of
these, 36 were new banks, 46 were previously operating noninsured
banks, 52 were banks which succeeded other insured banks or which
withdrew from the Federal Reserve System, and 1 was a trust
company not receiving regular demand and time deposits.
Table 19.
ADMISSIONS TO AND TERMINATIONS OF INSURANCE DURING 1936
Not
Offset
offset
by
by
terminations terminations
Total
Total number of admissions
•
135
83
86
46
1
46
6
36
46
New banks
Operating banks admitted to insurance
Trust company not engaged in banking admitted to insurance.
Successors to insured banks
Banks withdrawing from Federal Reserve System
Total
Total number of terminations
Banks ceasing operations—total
Suspensions
Insolvent banks merged with aid of loans by the Federal
Deposit Insurance Corporation
Other mergers, absorptions and consolidations
Other liquidations
Banks succeeded by other banks
52
••
46
6
Not
offset
by
admissions
Offset
by
admissions
288
236
52
281
41
235
40
46
1
27
142
31
40
22
139
31
8
6
8
Withdrawals from Federal Reserve System
87
6
NOTE: More detailed figures will be found in Table 102, pages 102-03.
The total number of terminations of insurance, including withdrawals from Federal Reserve membership and banks succeeded by
other banks, was 288. Of these, 68 were suspensions or mergers of
insolvent banks, 173 were mergers of other banks, consolidations and
liquidations, and 47 were banks which were succeeded by other banks
or which withdrew from the Federal Reserve System. A classification
of these admissions and terminations is given in Table 19.
•
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Federal Reserve Bank of St. Louis
O
•
•
100
FEDERAL DEPOSIT INSURANCE CORPORATION
NUMRER OF BANKING OFFICES
Table 101.
•
OF
31, 1935, AND
NUMBER AND CLASSIFICATION
OFFICES, DECEMBER
ALL BANKS AND BANKING OFFICES
..,
All banking offices-total.
Insured
Noninsured
OPERATING BANKS AND BANKING
DECEMBER
31, 1936'
United 'States
including possessions
United States
excluding possessions
Dec. 31, Dec. 31,
Net
1936
1935' change
Dec. 31, Dec. 31,
Net
1936
1935' change
19,203
17,297
1,906
19,312
17,328
1,984
-109
-31
-78
19,109
17,290
1,819
19,218
17,324
1,894
-109
- 34
- 75
15,714
14,029
1,685
15,940
14,182
1,758
-226
-153
-73
15,679
14,025
1,654
15,904
14,179
1,725
-225
-154
-71
3,489
3,268
221
3,372
3,146
226
+117
+122
-5
3,430
3,265
165
3,314
3,146
169
+116
+120
-4
Banking offices-total
Insured-total
Members F. R. System: national
Members F. R. System: State
Not members F. R. System
Noninsured
18,516
17,234
6,733
2,034
8,467
1,282
18,622
17,265
6,724
1,956
8,585
1,357
-106
-31
+9
+78
-118
-75
18,422
17,227
6,733
Z,034
8460
1,195
18,528
17,261
6,724
1,956
8,581
1,267
-106
-34
+9
+78
-121
-72
Banks-total
Insured-total
Members F. R. System: national
Members F. R. System: State
Not members F. R. System
Noninsured
15,151
13,973
5,325
1,051
7,597
1,178
15,374
14,126
5,386
1,001
7,739
1,248
-223
-153
-61
+50
-142
-70
15,116
13,969
5,325
1,051
7,593
1,147
15,338
14,123
5,386
1,001
7,736
1,215
-222
-154
-61
+50
-143
-68
Unit banks-total
Insured-total
Members F. R. System: national
Members F. R. System: State
Not members F. R. System
Noninsured
14,257
13,119
5,128
898
7,093
1,138
14,518
13,312
5,198
856
7,258
1,206
-261
-193
-70
+42
-165
-68
14,233
13,117
5,128
898
7,091
1,116
14,494
13,310
5,198
856
7,256
1,184
-261
-193
-70
+42
-165
-68
894
854
197
153
504
40
856
814
188
145
481
42
+38
+40
+9
+8
+23
-2
883
852
197
153
502
31
844
813
188
145
480
31
+39
+39
+9
Branches or additional offices- total
Insured-total. •
Members F. R. System: national
Members F. R. System: State
Not members F. R. System
Noninsured
3,365
3,261
1,408
983
870
104
3,248
3,139
1,338
955
846
109
+117
+122
+70
+28
+24
-5
3,306
3,258
1,408
983
867
48
3,190
3,138
1,338
955
845
52
+116
+120
+70
+28
+22
-4
All offices of banks operating more than
one office-total
Insured-total
Members F. R. System: national
Members F. R. System: State
Not members F. R. System
Noninsured
4,259
4,115
1,605
1,136
1,374
144
4,104
3,953
1,526
1,100
1,327
151
+155
+162
+79
+36
+47
-7
4,189
4,110
1,605
1,136
1,369
79
4,034
3,951
1,626
1,100
1,325
88
+155
+159
+79
• +36
+44
-4
Banking offices-total
Insured
Noninsured
687
63
624
690
63
627
-3
•
687
63
624
690
63
627
-A
-3
Banks- total'
Insured
Noninsured
563
56
507
566
56
510
-3
563
56
507
566
56
510
-3
Unit banks-total
Insured
Noninsured
485
52
433
488
52
436
-3
485
52
433
488
52
436
78
4
74
78
4
74
78
4
74
78
4
74
Branches or additional offices -total .. .
Insured
Noninsured
124
. 124
7
7
117, ,' 117
124
7
117
124
7
117
All offices of banks operating more than
one office-total
Insured
Noninsured
• '61
202 ' 202
11
11
191
191
202
11
191
202
11
191
All banks-total
Insured
Noninsured
All branches or additional offices
Insured .
Noninsured
COMMERCIAL BANKS
•
•
Banks operating more than one officetotal
Insured-total
Members F. R. System: national
Members F. R. System: State
Not members F. R. System
Noninsured
+8
+22
MUTUAL SAVINGS BANKS
•
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Banks operating more than one officetotal
Insured
Noninsured
-3
-3
-3
'For explanation of classification of banks and bank•ng offices see NOTE on pages 97
to 99.
'Revised figures. For explanation see NOTE on pages 98 to 99.
'Not members of the Federal Reserve System.
--A
-3
-3
ov..-•• • •
•
•
•
Table 102.
ANALYS:
OFFICES IN TIlE
AND BANKING
.IN
Ni MEEK
, '
tJNITED STATES AND
OF r'
POSSE.S.lu.',.,
),
Offices of insured banks
Total
Offices
Members F. R.
System
Total
National
COMMF,RCT NI, BANKING OFFICES
,,f “tfices, December 31, 1936
•.t Awes, December 31, 1935
18.516
18,622
Ni ha, during year..
•
17,234 I
17,265
1.282
1,357
-81
+9
+78
-118
- 75
207
36
171
1;4
6
78
29
1
28
94
29
65
31
29
2
Decrease- total
Banks ceasing operations
Branches discontinued
345
289
66
286
232
54
70
69
11
33
10
28
183
163
20
59
57
2
1
1
Trust company not engaged in deposit
banking admitted to insurance
1
+53
46
I-7
+2
+1
+1
+2
+2
+49
+43
+6
-53
-46
-7
-3
-1
-2
-3
-3
+6
+4
+2
insured to
•
COMMERCIAL BANKS
Number of banks, December 31, 1936
Number of banks, December 31, 1935
6
.4
2
15,151
15,374
,
-7
9
+2
+83
+58
+25
-76
-49
-27
13,973 if
14,126
5,325
5,386
1.051
1,001
7,597
7,739
1,178
1,248
-61
+50
-142
--70
Net change during year.
Banks beginning operations—total
New banks ,
Closed banks reopened'
Banks ceasing operations—total
Suspended banks not reopened or succeeded
Merged with aid of FDIC loans net
decrease
Other mergers, consolidations and absorptions net decrease I'...
Other liquidations,
Trust Company not engaged in deposit
banking admitted to insurance
Changes in classification: noninsured to
insured --total
National banks succeeding, noninsured
banks
I
Admissions to Federal Reserve System
Admissions to insurance.
Banks regularly operating at beginning
of year
Banks formerly operating under restrictions'..
Changes in classification: insured to
noninsured ---total.
Noninsured banks succeeding insured
banks
Withdrawal from Federal Reserve System
without continuance of insurance
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
8,467
8.585
238
65
173
Changes in classification among insured
banks total
Banks
Branches
•
2,034
1,956
-106
Changes in classification:
noninsured -total
Banks
Branches
•
6,733
6,724
Increase total
Banks beginning operations
Branches opened for business
Changes in classification: noninsured to
Insured- total
Banks
Branches
•
State
Offices
Not
of nonmembers insured
F. R.
banks
System
Changes in classification among insured
banks--total
National banks succeeding insured banks
not members Federal Reserve System"
Insured State banks succeeding national
banks
Insured bank not member Federal Reserve System Succeeding State bank
member Federal Reserve System
Withdrawals from Federal Reserve System
with continuance of insurance
Insured banks admitted to Federal Reserve System
Successions not involving changes in
number and classification- -total
Suspended and restricted banks succeeded
by another bank in same class'
Banks merged with newly organized banks
by aid of FDIC loans
Other successions by another bank in same
class'
New charters in mergers of insured banks
with each other by aid of FDIC loans
Other new charters in consolidations
-223 1-
-153
65
69
6
36
82
4
6
6•
289
43
232
40
59
1'
22
1-
22 1
159
65
1•
10
29
25
4-
39
27
2
163
39-
57
8-
21'
139
31
60
7
9.
1
46
1
2
20 •
84 •
1
2
43
—1
—2
2
37
—46
37
-37
6
-1.
—a
+4
-3
41
-9
10
-19
6
-48
+
2
+13
±1
+1
±2
± 7
+1
+1
+ 2
+
2
•
•
ANALYSIS OF CHANGES IN NUMBER AND CLASSIFICATION OF BANKS AND
BANKING OFFICES IN THE UNITED STATES AND POSSESSIONS DURING 1936—Cont.
Table 102.
Insured branches
•
Total
branchei
Members F. R.
System
Total
National
—
BRANCHES OF ADDITIONAL OFFICES
OF COMMERCIAL BANKS
Number of branches, December 31, 1936
Number of branches, December 31, 1935
Net change during year
Branches opened for business total . .
New branches established
Banks converted into branches as result of
mergers, consolidations and absorptions
Branches discontinued
•
3,365 1
3,248
+117
State
Non
Not
insured
members
F. R. branches
System
3,261
3,139
1,408
1,338
983
955
870
846
104
109
+122
+70
+28
+24
-5
171
98
78
34
28
16
65
48
2
2
73
73
44
12
17
56
54
11
23
20
2
+7
+6
+1
+6
+6
—7
-6
+1 i,
+1
173
100
Changes in classification: noninsured to
insured -total
Branches of banks admitted to insurance
Branch transferred as result of merger,
consolidation or absorption
Lhanges in classili,,ilion: iii,tired to
noninsured—total
Branches of a bank withdrawing from
Federal Rollillnl System without continuance of insurance
-1
-2
-2
+2
--
-2
+2
[Menges in classification among insured
banks 'total
Branch di insured State bank succeeding
national bank
Branches of insured State banks admitted
to Federal Reserve System
Branches transferred as result of merger,
consolidation or absorption
+2
+25
-27
+25
-25
+1
-1
3
+3
Insured I.:ank's
Total
31:0,1r.s
Member's F. R.
System
Total
National
•
MUTUAL SAVINGS BANKING OFFICES
Number of offices, December 31, 1936
Number of offices, December 31, 1935
Net change during year
MUTUAL SAVINGS BANKS
Number of banks, December 31, 1936.
Number of banks, December 31, 1935..
Net change during year.
Banks ceasing operations total
Absorptions net decrease
Other liquidations
BRANCHES OR ADDITIONAL OFFICES
OF MUTUAL SAVINGS BANKS
Number of branches, December 31, 1936
Number of branches, December 31, 1935
•
687
690
63
63
State
NonNot
intrred
members
br,rF. R.
System
63
63
3
563
566
624
627
-3
56
56
56
56
507
510
3
-a
-3
-1
--2
-3
-1
-2
124
124
7
7
7
7
117
117
Net change during year
banks not members of t e Federal Reserve
'Banks without predecessors The tig ire for i
System includes 1 bank which operated t.(q- several nuillM, and several others which operated for shorter
periods of time, prior to adminion to insurance, and also 1 bank organized to take over the certificates of
ny in order to convert those obligations into deposits eligible for
indebtedness of ifeelle P1a
Corporation.
b
Insurance irr die rallillaMcsit
Of the Federal Reserve System ineludes 2 banks in receiverwieinbere
net
bowed
UP
,
Milo
ship Awe.1924 Wei were renemaked 1 newly chartered bat* organized to take over selected assets
and ter eininne deposit lialdlhlee of bank;in receivership, and 1 bank organized to replace at date of payoff
or purslane et Newts, an insured bank which closed
liebilities
ered
of bowed deposits, **bog nesunlptim
oa
nt
banks include 1 bank in receivership since 1932, and 1
gnres for
On Desseaber 111, 1935.
In readweeddp since 1934, both of AddsIMO reorganized.
*Includes 3 cases in which deposits of the "absorbed" bank were not directly assumed by the
absorbing institution.
thtebides 3 noninsured banks operating under restrictions which were placed in receivership or
6Inelucles 1 bank reorganized under a new ('barter.
Includes 1 national bank succeeding a Deposit Insurance National Bank.
7Includes 1 successor bank to a suspended insured bank which did not assume deposit liability,
hut took over part of the assets and is operated by the same management as the suspended hank, and 1
noninsured bank which succeeded a bank which had been operating under restrictions.
gneludes 1 ease in which a bank successor to an insured bank operated for one month prior to
admission to insurance, 1 case in which the successor bank was opened and operated as a noninsured
hank for about three months prior to admission to insurance and absorption of the predecessor insured
bank, and 1 case in which an insured bank merged under its own name with a trust company not engaged
in deposit banking.
•
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Table 103. NUMBER OF OPERATING BANKING OFFICES, DECEMBER 31, 1936
INSURED AND NONINSURED OFFICES GROUPED BY CLASS OF BANK AND TYPE OF OFFICE IN EACH STATE AND IN THE POSSESSIONS
•
United States and possessions-total...
All banks
Unit banks
Banks operating more than one office
Branches or additional offices
United States
All banks
Unit banks
Banks operating more than one office
Branches or additional offices
Possessions
All banks
Ilk Unit banks
Banks operating more than one office
ranches or additional offices
All banks and banking
offices
Total
Insured
NonTotal
insured
Insured
Members F. R.
System
Total
Not
rnembers
Nat ional
,-,-...
°'''''`
System
FR.
Total
Insured
Noninsured
All
Corn- Mutua
bank- mercial saving
ing
banking bankin
offices offices offices
1,906 18,516 17,234
1,685 15,151 13,973
1,571 14,257 13,119
114
894
854
221
3,365
3,261
6.733
;,,325
.,128
197
1,408
2,034
1,051
898
153
983
8,467
7,597
7,093
504
870
1,282
1,178
1,138
40
104
687
563
485
78
124
63
56
52
4
7
624
507
433
74
117
90.1
89.3
89.3
88.3
93.7
93.1
92.2
92.0
95.5
96.9
9.2
9.9
10.7
5.1
6.6
19,109 17,290
15,679 14,025
14,718 13,169
961
856
3,430
3,265
1,819
1,654
1,549
105
165
6,733
5,325
.5,128
197
1,408
2,034
1,051
898
153
983
8,460
7,593
7,091
502
867
1,195
1,147
1,116
31
48
687
563
48.;
,•,
12I
63
56
52
4
7
624
507
433
74
117
90.5
89.5
89.5
89.1
95.2
93.5
92.4
92.2
96.5
98.5
9.2
9.9
10.7
5.1
5.6
7
4
2
2
3
87
31
22
9
66
7.4
11.4
8.3
18.2
5.1
7.4
11.4
8.3
18.2
5.1
10
10
10
95.8
95.4
95.3
100.0
100.0
95.8
95.4
95.3
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
95.7
95.5
95.3
100 0
100.0
95.7
95.5
95.3
100.0
100.0
18,422 17,227
15,116 13,969
14,233 13,117
883
852
3,258 ,
3,306
1
1
I
1
I
7
4
2
2
3
87
31
22
9
56
94
35
24
11
59
7
4
2
2
3
State
Alabama
All banks
Unit banks
Banks operating more than one office. .
Branches or additional offices
239
218
215
3
21
229
208
205
3
21
10
10
10
239
218
215
3
21
229
208
205
3
21
75
69
68
1
6
19
18
17
1
1
135
121
120
1
14
Arizona
All banks
Unit banks
Banks operating more than one office. .
Branches or additional offices
38
14
9
5
24
38
14
9
5
24
38
14
9
5
24
38
14
9
5
24
25
7
5
2
18
2
2
2
11
5
2
3
6
Arkansas
All banks
Unit banks
Banks operating more than one office. .
ranches or additional offices
230
221
213
8
9
220
211
203
8
9
230
221
213
8
9
220
211
203
8
51
50
49
I
1
7
7
7
162
154
147
7
8
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Noninsured
Banks and banking offi.
ces insured as percent of-
19,203 17,297
15,714 14,029
14,742 13,171
972
858
3,489
3,268
94
35
24
11
59
•
Mutual savings banks
and banking offices
Commercial banks and banking offices
10
10
10
9
10
10
10
•
Table 103. NUMBER OF OPERATING BANKING OFFICES, DECEMBER 31, 1936-Continued
C.:r4
INSURED AND NONINSURED OFFICES GROUPED BY CLASS OF BANK AND TYPE OF OFFICE IN EACH STATE AND IN THE POSSESSIONS
All banks and banking
offices
California
All banks
Unit banks
Banks operating more than one office. .
Branches or additional offices
lorado
All banks
Unit banks
Banks operating more than one office.
Branches or additional offices
Connecticut
All banks
Unit banks
Banks operating more than one office
Branches or additional offices
Delaware
All banks
Unit banks
Banks operating more than one office. . .
Branches or additional offices
District of Columbia
All banks
Unit banks
Banks operating more than one office. . .
Branches or additional offices
Orida
11 banks
Unit banks
Banks operating more than one office. . .
Branches or additional offices
Georgia
All banks
Unit banks
Banks operating more than one office. ..
Branches or additional otes
0°
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
1,062
224
186
38
838
151
151
151
206
195
189
6
11
61
Insured
1,055
218
181
37
837
138
97
56
52
369
342
330
12
27
13
109
104
100
4
5
52
160
6
5
1
1
13
13
44
38
6
12
158
157
1
2
7
138
138
48
4/
7
13
22
11
11
30
Noninsured
91
89
2
6
5
4
3
1
1
22
11
11
30
153
153
153
286
262
252
10
24
Total
1,062
224
186
38
838
151
151
151
132
122
117
5
10
58
5
4
1
2
83
80
78
2
3
Total
1,055
National
State
764
152
218
181
37
837
108
97
11
656
138
78
5
5
109
58
6
104
100
4
5
56
54
51
3
4
16
16
16
52
52
26
160
369
342
330
12
27
5
78
78
44
38
6
12
158
157
1
2
15
7
8
137
138
138
46
40
6
12
22
11
11
30
7
Insured
Members F. R.
System
22
11
11
30
153
153
153
286
262
252
10
24
6
6
6
4
2
2
2
8
9
4
5
17
3
1
2
5
53
4
53
53
71
56
53
3
15
4
4
29
24
21
3
5
Not
Nonmembers insured
Total
Insured
Noninsured
Corn- Mutua
All
bank- mercial saving'
banking bankin
ing
offices offices officeE
System
139
95
77
18
44
55
65
55
45
44
43
/
1
34
24
20
4
10
7
97.3
97.3
97.4
99.9
13
91.4
13
13
23
18
17
/
5
2
2
2
18
74
73
72
/
1
3
2
1
/
1
74
73
72
1
1
3
2
1
1
1
52.9
82.6
53.3
52.9
66.7
45.5
91.8
91.7
92.7
85.7
92.3
95.6
96
96
5
4
1
2
96.8
97.5
186
83
77.5
182
178
4
4
80
78
2
3
91.4
91.4
91.4
100.0
100.0
100.0
100.0
7
99.3
97.3
97.3
97.4
99.9
91.4
91.4
100.0
10
6
4
8
96
99.3
6
5
1
1
76.6
76.4
83.3
88.9
85.2
85.5
80.0
50.0
96.6
95.7
95.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
95.6
96.8
97.5
77.5
76.6
76.4
83.3
88.9
FEDERAL DEPOSIT INSURANCE CORPORATION
Total
Mutual savings banks Banks and banking otticesinsuredaspercent ofand banking offices
Commercial banks and banking offices
Unit banks
Banks operating more than one office. . . .
Branches or additional offices
Illinois
All banks
Unit banks
Banks operating more than one office .
3
3
3
82
50
441
36
20
24
10
22
20
16
9
19
6
6
32
32
4
16
/
14
/
2
863
863
307
307
75
76
481
481
85
53
.47
85
53
47
82
50
44
6
6
881
881
96.5
94.3
96.5
94.3
93.6
100.0
93.6
100.0
100.0
100.0
18
18
98.0
98.0
98.0
98.0
18
98.0
98.0
92.8
92.3
92.9
92.4
80.0
80.0
92.0
97.0
92.1
97.0
80.0
98.1
98.1
89.1
87.8
3
3
3
32
32
881
881
863
863
18
18
881
863
18
881
863
307
75
481
583
530
497
541
489
457
42
41
40
578
525
537
485
132
124
20
8
385
353
41
40
453
32
118
6
328
39
32
492
33
7
33
1
Branches or additional offices
Indiana
All banks
•
Unit banks
Banks operating more than one office. .
Branches or additional offices
Iowa
All banks
Unit banks
Banks operating more than one office. .. .
Branches or additional offices
Kansas
All banks
Unit banks
Banks operating more than one office.
5
5
5
4
4
4
63
52
1
53
52
8
12
25
32
810
671
722
589
88
82
810
671
722
589
113
113
30
30
579
446
88
82
89.1
87.8
567
104
489
100
113
30
346
100
78
86.2
96.2
86.2
96.2
95.7
95.7
246
246
246
65.2
65.2
65.2
65.2
65.2
65.2
47
47
47
89.8
89.1
89.8
89.1
88.8
100.0
88.8
100.0
100.0
100.0
1
78
567
104
489
100
139
133
4
6
139
133
706
706
460
460
246
246
706
706
460
460
188
188
17
17
255
255
706
460
246
706
460
188
17
255
461
433
414
386
47
47
461
433
414
386
117
100
13
11
284
275
419
14
372
14
419
14
372
14
97
9
28
28
3
17
2
2
266
9
199
146
197
144
120
26
118
26
57
30
24
6
5
4
6
53
53
133
4
6
Branches or additional offices
Kentucky
All banks
Unit banks
Banks operating more than one office. .
Branches or additional offices
Wu
isiana
U banks
Unit banks
Banks operating more than one office. . .
Branches or additional offices
Maine
All banks
Unit banks
Banks operating more than one office. .
Branches or additional offices
Maryland
All banks
Unit banks
Banks operating more than one office. . . .
Branches or additional offices
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
28
28
199
146
197
144
120
26
118
26
53
53
47
2
2
2
9
134
109
2
2
99.0
98.6
99.0
98.6
90
19
2
1
98.3
100.0
98.3
100.0
27
1
25
100.0
100.0
44
40
31
5
39
73.6
66.0
88.4
87.3
17.6
18.8
90.2
80.0
20.0
2
64.2
72.7
2
86.7
89.7
26
10
90.4
93.9
99.2
98.9
7.1
16.7
8
2
94.2
92.3
98.8
100.0
20.0
16
83.0
100.0
341
321
6
6
30
2 '
6
81
22
52
16
29
6
51
20
46
16
37
1
60
52
8
58
52
3
4
4
26
22
15
9
5
4
6
291
197
263
185
28
12
263
186
261
183
70
63
54
11
137
109
2
2
28,,2
2
12 '
171
26
161
10
159
24
5
6
93
16
2
2
16
161
24
61
24
78
10
2
78
78
43
28
163
103
120
68
43
35
94
129
71
114
62
2
7
I
17
8
9
2
16
2
28
26
24
dO NMIWIIN
Idaho
All banks
S
iAssouri
ii
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
0
00
POSSESSIONS
Banks and bank ing officesinsured aa percent of"'
All
Corn- Mutual
bank- mercial 'savings
ing
banking banking
offices offices offices
57.1
98.1
49.9
97.5
47.3
96.9
62.7 100.0
76.7
99.1
91.5
91.5
89.5
89.5
89.2
89.2
92.9
92.9
98.1
98.1
94.5
94.5
94.5
94.5
94.5
94.4
100.0 100.0
100.0
100.0
95.6
95.6
94.7
94.7
94.1
94.1
100.0 100.0
100.0
100.0
93.1
93.1
93.1
93.1
93.1
93.1
99.2
99.2
99.2
99.2
99.2
99.2
86.3
86.2
86.1
100.0
100,0
86.3
86.2
86.1
100.0
100.0,
100.0
100.0
100.0
NOIIVII0d1103 HaNVIMSNI ESO
dal rIVIIHU31
Table 103. NUMBER OF OPER
ATING BANKING OFFICES, DECE
MBER 31, 1936-Continued
INSURED AND NONINSURED
OFFICES GROUPED BY CLASS OF
BANK AND TYPE OF OFFICE IN
EACH STATE AND IN THE
kit banks and banking
offices
Commercial banks and banking offices
Mutual savings banks
and banking offices
Insured
Members F. R. Not
InNonTotal
System
mem- NonInNonsured insured Total Total
ben; insured Total sured insure
Nad
F.R.
tional State
System
assachusetts
541
309
All banks
232
315
309
189
65
55
395
6
226
197
198
Unit banks
202
226
197
128
29
40
328
5
193
155
173
Banks operating more than one office.
160
193
155
110
15
.
.
.
30
67
5
168
42
Branches or additional offices
25
168
42
42
18
14
10
146
112
25
34
113
25
112
Michigan
61
36
15
1
33 1
649
33
594
All banks
55
649
594
138
162
294
495
55
443
52
Unit banks
495
443
83
106
254
52
453
404
Banks operating more than one office.
49
453
404
70
95
. ..
239
42
49
39
Branches or additional offices
3
42
39
13
11
15
154
3
151
3
154
151
Minnesota
55
56
40
3
693
655
All banks
38
692
654
203
14
437
687
38
649
1
38
1
Unit banks
686
648
197
14
437
685
38
1
647
1
38
Banks operating more than one office.
684
646
195
14
..
437
2
38
2
1
1
Branches or additional offices
2
2
2
6
6
6
6
Mississippi
6
250
239
All banks
11
250
239
26
3
210
208
11
197
11
Unit banks
208
197
25
3
169
186
11
175
11
Banks operating more than one office.
186
175
24
3
.
.
.
11
148
22
22
Branches or additional offices
22
22
1
21
42
42
42
42
1
41
670
624
46
II banks
670
624
86
51
487
670
46
624
46
Unit banks
670
624
86
51
487
670
46
624
Banks operating more than one office.
46
670
624
86
51
487
46
Branches or additional offices
Montana
120
119
All banks
1
120
119
45
21
53
120
1
119
1
Unit banks
120
119
45
21
53
1
120
119
1
Banks operating more than one office
120
119
21
45
53
1
Branches or additional offices
Nebraska.
439
379
60
All banks
439
379
138
12
229
436
60
376
60
Unit banks
436
376
135
12
229
433
60
373
60
Banks operating more than one office.
433
373
132
12
229
..
.
3
60
3
Branches or additional offices
3
3
3
3
8 .
_
3
3
3
20
12
10
2
8
16
8
6
2
8
4
4
4
New Hampshire
All banks
Unit banks
Banks operating more than one office. . .
Branches or additional offices
112
109
106
3
3
57
56
55
New Jersey
All banks
Unit banks
Banks operating more than,one office. .
Branches or additional offices
539
416
362
54
123
520
399
3,46
53
121
New Mexico
All banks
Unit banks
Banks operating more than one office .
Branches or additional offices
46
41
37
4
5
45
40
86
4
5
1,597
919
795
124
678
1,392
760
674
86
632
205
159
121
S8
46
North Carolina
All banks
Unit banks
Banks operating more than one office .
Branches or additional offices
344
239
197
42
105
335
232
191
4/
103
9
7
6
1
2
North Dakota
All banks
Unit banks
Banks operating more than one office . . .
Branches or additional offices
208
198
188
10
10
193
183
/73
10
10
15
15
15
Ohio
All banks
Unit banks
Banks operating more than one office. . .
Branches or additional offices
885
714
679
35
171
864
693
658
35
171
Oklahoma
All banks
Unit banks
B Banks operating more than one office
ranches or additional offices
403
403
403
385
385
385
0
New York
All banks
Unit banks
Banks operating more than one office. . .
Branches or additional offices
O
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
20
12
/0
2
8
16
8
6
3
3
3
4
4
4
55
53
51
2
2
67
65
63
2
2
57
56
1
1
53
52
51
1
1
3
3
10
9
8
1
1
19
17
16
1
2
510
391
340
51
119
504
385
334
51
119
266
233
217
16
33
116
55
33
22
61
122
97
84
/3
25
6
6
6
46
41
37
4
5
45
40
St;
4
5
22
22
22
4
4
4
19
14
/0
4
5
1,389
1,415
784 .
758
697 1
673
87 I
85
631
631
638
455
426
29
183
so2
82
38
382
249
183
/65
18
66
26
26
24
2
344
239
197
42
105
335
232
191
41
103
49
43
4/
2
6
16
9
7
2
7
270
180
143
37
90
9
7
6
208
188
10
10
193
183
173
10
10
62
61
60
1
1
131
122
113
9
9
15
15
15
21
21
21
882
711
676
35
171
861
690
655
35
171
282
249
241
8
33
18
18
18
403
403
403
385
385
385
214
214
214
ns
8
.
13
2
8
'fill
168
168
168
29
16
14
12
2
2
135
98
37
IL
47 ,
3
2
1
1
1
2
21
21
21
3
3
3
45
44
48
18
18
18
3
3
13
11
/0
2
179
133
97
36
46
80.0
66.7
60.0
100.0
100.0
80.0
66.7
60.0
100.0
100.0
50.9
51.4
51.9
33.3
33.3
85.1
86.2
87.3
50.0
50.0
95.9
95.6
98.1
98.4
98.5
98.2
100.0
100.0
97.8
97.6
97.3
100.0
100.0
97.8
97.6
97.3
100.0
100.0
87.2
82.7
84.8
69.4
93.2
98.2
96.7
96.6
97.7
100.0
97.4
97.1
97.0
97.6
98.1
97.4
97.1
97.0
97.6
98.1
92.8
92.4
92.0
100.0
100.0
92.8
92.4
92.0
100.0
100.0
97.6
97.1
96.9
/00.0
100.0
97.6
97.0
96.9
/00.0
100.0
95.5
95.5
95.5
95.5
95.5
95.5
55.2
56.0
54.5
66.7
50.0
1.6
1.5
/.0
2.7
2.1
100.0
100.0
100.0
S4OId.40 DNIDINVII .10 US11WIlts1
Oevada
All banks
Unit banks
Banks operating more than one office. . .
Branches or additional offices
0
Table 103.
NUMBER OF OPERATING BANKING OFFICES, DECEMBER
31, 1936-Continued
INSURED AND NONINSURED OFFICES GROUPED BY CLASS OF BANK AND TYPE OF OFFICES
IN EACH STATE AND IN THE POSSESSIONS
All banks and banking
offices
Oregon
142
All banks
92
Unit banks.
88
Banks operating more than one office
4
Branches or additional offices
50
Pennsylvania
1,231
All banks
1,119
Unit banks
•
1,073
Banks operating more than one office. • .
46
Branches or additional offices
•
112
Rhode Island
72
All banks
32
Unit banks
20
Banks operating more than one office
12
kBranches or additional offices
40
uth Carolina
173
V banks
•
151
Unit banks
145
Banks operating more than one office.
6
Branches or additional offices
22
South Dakota
210
All banks
191
Unit banks
183
Banks operating more than one office • • •
8
Branches or additional offices
19
Tennessee
362
All banks
314
Unit banks
294
Banks operating more than one office . . .
20
Branches or additional offices
48
Texas
904
All banks
904
Unit banks
904
Banks operating more than one office
Ameranches or additional offices
a
U
Digitized
1111,for FRASER
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Insured
138
88
84
4
50
1,179
1,084
1,044
40
95
44
16
10
6
28
133
111
105
6
22
209
190
182
8
19
352
304
284
20
48
800
800
800
Noninsured
4
4
4
52
35
29
6
17
28
16
10
6
12
40
40
40
1
1
1
10
10
10
104
104
104
Total
Insured
Members F. R
System
I Total
1
141 1
137
91 1
87
87 ,
83
4
4
50 ,
50
1,211
1,177
1,112 ' 1,082
1,070 I 1,042
42
40
99
95
61
44
23
16
12
10
11
6
38
28
173
133
151
111
145
105
6
6
22
22
210
209
191
190
183
182
8
8
19
19
362
352
314
304
294
284
20
20
48
48
904
800
904
800
904
800
National
86
38
36
2
48
747
708
691
17
39
20
12
9
3
8
35
20
19
1
15
63
48
44
4
15
90
72
67
5
18
456
456
456
State
5
5
5
117
77
64
13
40
21
2
2
19
5
4
3
1
1
23
23
23
5
5
5
51
51
51
Not
mem- Nonhers insured
F. R.
System
46
44
42
2
2
313
297
287
10
16
3
2
1
1
1
93
87
83
4
6
123
119
115
4
4
257
227
212
15
30
293
293
293
Total
InNonsured insured
4
4
4
1
1
1
1
1
1
34
30
28
2
4
17
7
2
6
10
40
40
40
20
7
3
4
13
11
9
8
1
2
2
2
2
1
1
1
10
10
10
104
104
104
18
5
4
13
11
9
8
1
2
Banks and banking offices insured as percentofAll
Com- Mutual
bank- mercial savings
ing
banking banking
offices offices offices
97.2
95.7
95.5
100.0
100.0
95.8
96.9
97.3
87.0
84.8
61.1
50.0
50.0
50.0
70.0
76.9
73.5
72.4
100.0
100.0
99.5
99.5
99.5
100.0
100.0
97.2
96.8
96.6
100.0
100.0
88.5
88.5
88.5
97.2
95.6
95.4
100.0
100.0
97.2
97.3
97.4
95.2
96.0
72.1
69.6
83.3
54.5
73.7
76.9
73.6
72.4
100.0
100.0
99.5
99.6
99.5
100.0
100.0
97.2
96.8
96.6
100.0
100.0
88.5
88.5
88.5
100.0
100.0
100.0
10.0
28.6
66.7
FEDERAL DEPOSIT INSURANCE CORPORATION
Total
Mutual savingE banks
and banking c ffices
Commercial banks and banking offices
S
Ilk
Ir
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
69
59
55
4
10
105
89
80
9
16
389
321
281
40
68
231
184
176
8
47
188
186
184
2
2
712
604
534
70
108
58
58
58
69
69
55
4
10
105
89
80
9
16
387
320
281
39
67
221
174
166
8
47
177
175
173
2
2
694
688
520
68
106
58
58
58
2
1
1
1
10
10
10
11
11
11
18
16
14
2
2
69
59
55
4
10
87
75
67
8
12
389
321
281
40
68
228
181
173
8
47
188
186
184
2
2
708
600
530
70
108
58
58
58
69
59
55
4
10
87
75
67
8
12
387
320
281
39
67
218
171
163
8
47
177
175
173
2
2
690
584
516
68
106
58
58
58
22
13
10
3
9
44
42
40
2
2
147
132
125
7
15
96
56
61
5
40
79
79
79
19
19
19
117
105
103
2
12
26
26
26
29
23
19
4
6
9
9
9
29
24
22
2
6
32
27
26
1
5
19
19
19
28
27
26
1
1
43
33
27
6
10
211
164
134
30
47
90
88
86
2
2
79
77
75
2
2
544
456
394
62
88
23
23
23
18
14
13
1
4
18
14
13
1
4
3
3
3
3
3
4
4
4
4
4
4
2
1
1
1
10
10
10
3
11
11
11
18
16
14
2
2
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
99.5
99.7
100.0
97.5
98.5
95.7
94.6
94.3
100.0
100.0
94.1
94.1
94.0
100.0
100.0
97.5
97.4
97.4
97.1
98.1
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
99.5
99.7
100.0
97.5
98.5
95.6
94.5
94.2
100.0
100.0
94.1
94.1
94.0
100.0
100.0
97.5
97.3
97.4
97.1
98.1
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
SHDIdd0 DNIMNVII dO 113$1111IIN
Utah
All banks
Unit banks
Banks operating more than one office. . .
Branches or additional offices
Vermont
All banks
Unit banks
Banks operating more than one office. . .
Branches or additional offices
Virginia..
All banks
Unit banks
Banks operating more than one office. ..
Branches or additional offices
Washington.
All banks
Unit banks
Banks operating more than one office. . .
Branches or additional offices
West Virginia
All banks
Unit banks
Banks operating more than one office . . .
Branches or additional offices
isconsin
All banks
Unit banks
Banks operating more than one office. . ..
Branches or additional offices
Wyoming
All banks
Unit banks
Banks operating more than one office
ranches or additional offices
Table 104. NUMBER OF OPERATING BANKING OFFICES, DECEMBER 31, 1936
INSURED AND NONINSURED OFFICES GROUPED BY CLASS OF BANK, TYPE OF OFFICE, AND AMOUNT OF DEPOSITS
banks and banking
offices
Total
--
-
All ban :ing offices
Ban king offices with deposits of$100,0 DO and under
$100,0DO to $250,000
$250,0DO to $500,000 .
$500,0DO to $1,000,000
R1,000,000 to $2,000,000
1,000,000 to $5,000,000
$5,000,000 to $10,000,000
$10,000,000 to $50,000,000
Over $50,000,000
None ,r not available
All ba iks
Banks with daily average deposits of$100,000 and under
$100,000 to $250,000
$250,000 to $500,000
$500,000 to $1,000,000.
$1,000,000 to $2,000,000
$2,000,000 to $5,000,000
$5,000,000 to $10,000,000
$10,000,000 to $50,000,000
Over 50,000,000
None ar not available
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Mutual savings banks Banks and banking officee
Commercial banks and banking offices
and banking offices
insured as percent ofInsured
Members F. R.
Corn- Mutual
Not
All
System
InNon
l savings
mem- , Non- Total
InNon- bank- mercia
sured i nsured' Total Total
banking banking
bers
[insured'
insured
sured
ing
Na- State F. R.
offices
offices
offices
tional
System
19,203 17,297
1,906 18.316 17,234 6,733
2,034
8,467
1,282
687
63
624
90.1
93.1
9.2
1,253
3,469
3,814
3,474
2,658
2,010
737
613
169
1,006
349 1,250
902
354 3,467 3,115
199 3,807 3,612
135 3,445 3,331
102 2,593 2,544
167 1,867 1,829
109
622
617
175
449
432
38
128
125
278
888
727
1,685 15,151 13,973
56
503
1,229
1,596
1,380
1,045
358
245
69
252
5,325
16
102
237
374
397
405
166
139
51
147
1,051
830
2,510
2,146
1,361
767
379
93
48
5
328
7,597
348
352
195
114
49
38
5
17
3
161
3
2
7
29
65
143
115
164
41
118
563
2
.
3
56
507
72.1
89.8
94.8
96.1
96.2
91.7
85.2
71.5
77.5
72.4
89.3
72.1
89.8
94.9
96.7
98.1
98.0
99.2
96.2
97.7
81.9
92.2
66.7
12
14
11
6
6
1
1
2
4
21
53
129
104
158
35
117
49
477
1,105
1,313
1,058
796
283
185
59
10
80
188
210
166
171
88
93
45
736
2,347
2,056
1,263
716
348
82
44
5
2
2
7
9
14
11
6
5
1
2
4
21
53
129
104
158
35
69.5
89.1
94.4
95.4
95.0
88.8
81.0
65.2
75.0
69.5
66.7
89.2 . ..
94.5
33.3
96.1
25.0
97.5
14.5
97.2
9.8
98.9
9.6
95.0
3.7
97.3
12.5
904
3,115
3,615
3,339
2,556
1,843
628
438
131
728
15,714 14,029
1,146
3,258
3,550
2,928
2,051
1,496
573
503
152
57
797
2,904
3,351
2,793
1,949
1,329
464
328
114
349
354
199
135
102
167
109
175
38
57
1,143
3,256
3,544
2,900
1,989
1,353
458
339
112
57
795
2,904
3,349
2,786
1,940
1,315
453
322
109
1,178
348
352
195
114
49
38
5
17
3
57
3
2
6
28
62
143
115
164
40
8
42.9
27.6
18.5
9.8
9.6
3.7
14.6
.8
9.9
NOLLV110d1100 SONVIIIISNI IIS0d3CI 'IVIIRCIM
All
•
•
•
4110110,
NOTE REGARDING NUMBER AND CLASSIFICATION OF OPERATING
BANKS AND
BANKING OFFICES
Classification of banks and banking offices
Insured banks include all banks insured by the
Federal Deposit Insurance
Corporation; noninsured banks include all banks not so
•
•
insured.
Commercial banks include the following categories of banks:
All operating national banks;
All incorporated State banks, trust companies, and bank
and trust companies,
regularly engaged in the business of receiving deposits
, whether demand or
time, except mutual savings banks and guarant e4erid-s
avings
All stock savings banks, except guarant fund savings banks;
banks in New
Hampshire;
Banks in conservatorship or operating under restrict
ions,
authorized to and in fact do accept new deposits, regardle provided they are
ss of the character of
the restrictions imposed on the operations of the bank;
Such industrial and Morris Plan banks as operate
under general banking
codes or operate under the same codes of law as insured
industrial banks;
Branches of foreign banks which engage in a general
deposit business;
Cash depositories;
Private banks under State supervision, and such other
private banks as are
reported by reliable unofficial sources to be engaged in
deposit banking;
All insured trust companies, even though not engaged
in regular deposit
banking;
,14.eati office in each of the possessions of branches of America
n and foreign
banks engaged in a general deposit business in those possessi
ons.
Mutual savings banks include all banks operating
under special State banking
codes applying to mutual savings banks, including all
guaranteran4 tanks in
New Hampshire. The classification of mutual savings
banks conforms with that
adopted by the Board of Governors of the Federal Reserve
System except for one
bank classified as a mutual savings bank by that Board which
is insured and classified
by the Federal Deposit Inurance Corporation as a commerc
ial bank. fInclusion of
barks in the tables as mutual savings banks does not indicate
that they are eligible in
every case for insurance as mutual savings banks by
the Federal Deposit Insurance
Corporation.
Branches or additional offices, include all
offices of banks operating more than
one office, other than head offices, at which deposits
are received or checks cashed,
and all offices of insured trust companies not engaged
in deposit banking. The term
branches is used in accordance with the definiti
on in paragraph (15), subsection
(c) of section 12B of the Federal Reserve Act,
which is as follows: "Tie term
'branch' includes any branch bank, branch office, branch
agency, additional office,
or any branch place of business located in any
State of the United States or in
Hawaii, Alaska, Puerto Rico, or the Virgin Islands
at which depots are received or
checks paid or money lent."
Institutions excluded from the number of banks
Figures for operating banks do not include institut
ions in the following categories,
though such institutions may perform many of
the same functions as banks:
Banks which have suspende operations or have decided
to close up their
4• affairs, and have ceased to ac
new deposits and are proceeding to liquidate
their assets and pay off existing deposits
, regardless of the amount of deposit
liability still remaining and regardless of whether
they are listed among operating hanks or included in abstracts of
condition of banks published by State banking authorities;
Building and loan associations, savings and loan associat
ions, credit unions,
personal loan companies, and similar institut
ions, operating under special laws
applying to such institutions or under general
incorporation laws, regardless of
•
S
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
whether such institutions are authorilibil to accept deposits from the
public or
from their members and regardless of whether such institutions are
called
"banks";
Noninsured Morris Plan companies, industrial banks, loan and
investment
companies, and similar institutions, not operating under general State
banking
codes, or under the same codes of law as similar institutions which have been
admitted to insurance;
Noninsured trust companies not engaged in receiving deposits from the
general public, regardless of whether they are listed among banks or include
d
in abstracts of condition of banks pub •
banking authorities;
Branches of foreign banks, and of private
, v liich confine their busineiss
to foreign exchange dealings and do not receive "deposits" as that term
is
commonly understood;
A few special institutions chartered under general banking laws, but
operating
as mortgage or investment companies and not engaged in deposit banidng
:
Federal Reserve banks and other banks, such as the Savings and Loan
Bank
of the State of New York, which operate as rediscount banks and do not
accept
deposits from the general public.
•
•
•
Revision of figures for December 31, 1935
Figures regarding the number of banks and of banking offices for December 31,
1935, have been revised since publication of the Annual Report of the Federal
Deposit Inurance Corporation for the year ending December 31, 1935. The revisions made are shown below.
Number of insured banks not members of the Federal Reserve System.
•
Revised to include one Deposit Insurance National Bank authorized to accept
deposits.
Number of branches of insured banks. Revised (a)to include 9 branches of
national banks, 2 branches of State banks not members of the Federal Reserve
System, and 3 branches of insured banks not members of the Federal Reserve System
not previously reported by the banks operating them; (b) to include 3 offices of
national banks and 1 office of a State bank member of the Federal Reserve System
not previously considered to be "branches"; and (c)to exclude 1 branch of a national
bank discontinued during 1935 but not reported until later.
Number of noninsured banks. Revised (a) to include 37 banks in conservatorship or operating under restrictions;(b)to include 105 private banks not under
State supervision which are engaged in deposit banking; and (c) otherwise to adjust
the number in conformity with the definitions and criteria set forth above.
Number of branches of noninsured banks. Revised to include a number of
branches, chiefly in the possessions, not previously counted, and to adjust the number in conformity with the definitions and criteria of banks set forth above.
Number of banks operating more than one office.
accordance with revisions in the number of branches.
•
•
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Revised as necessary in
•
NUMBER OF COMMERCIAL BANKS AND BRANCHES
DECEMBER 31, 1935
DilYERENCES BETWEEN FIGURES PUBLISHED IN THE
1935 AND 1936 ANNUAL REPORTS
411
A.
Net difference
Number of banks
, orbrapches
1936
1935
trdr
Net
revision
Table
number
1955 1/
report
Number of banks and branches:
United States and possessions
States
Possessions
18,622
18,528
94
18,448
18,364
84
0.174
11.11.64
+10
101
101
101
15,374
15,338
56
15,246
15,215
31
+128
+125
+5
102
102
102
5,248
3,190
58
5,202
6,149
55
*46
*41
1-5
105
105
105
856
844
12
830
820
10
*26
*24
+2
104
104
104
814
815
1
796
795
1
*18
+18
••
104
104
104
42
31
11
54
25
9
+8
+6
+2
104
104
104
14,126
14,123
5
14,125
14,122
5
+1
ti
••
102
102
102
1,248
1,215
33
1,121
1,095
28
14 127
1422
+5
102
102
102
•
Number of banks:
United States and possessions
States
Possessions
Number of branches:
•
United States and Possessions
States
Possessions
Number of banks upratinc. branches:
United States and possessions
States
Possessions
Number of insured banks:opera. branches:
United States and Possessions
States
•
Possessions
Number of noninsured banks gperatiag branches:
United States and possessions
States
Possessions
Number of insured banks:
United States and possessions
States
Possessions
Number of noninsured banks:
United States and possessions
States
Possessions
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
•
A. Net diff_eunce - continued
•
Number of banks
or branghes
1936
1935
Net
revision
Table
number
1935
report 1/
Number of lasured braqches:
United States and possessions
States
Possessions
3,139
3,138
1
30112
3,111
1
+27
4-27
105
105
105
109
52
57
90
38
52
+19
+14
+5
105
105
105
Number of noninsured branches:
III
United States and possessions
States
Possessions
•
J.J.
Revised figures are given in Table 101 of the 1936 Annual Report.
•
•
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
•
NUMBER OF COMMERCIAL BANKS AND BRANCHES
DECEMBER 31, 1935
•
DIFFERENCES BETWEEN FIGURES PUBLISHED IN THE
1935 AND 1936 ANNUAL REPORTS
B. Numbers of banks, branches, and banks qpftrattkag branches,
added to and deleted from lists 12y. States
State
Banks
Added
Deleted
United States and possessions
States
Possessions
Insured - United btates and
possessions
States
Possessions
•
Noninsured - United States
and possessions
States
Possessions
Arkansas - noninsured
Califprnia - insured
- noninsured
Connecticut - noninsured
Branches
Added
Deleted
Banks operating
branches
Added
Deleted
165
155
10
57
32
5
52
43
9
6
2
4
26
4
2
2
1
1
..
•t
••
..
28
28
•.
1
1
••
19
19
••
1
1
.•
164
154
10
37
32
5
24
15
9
5
1
4
11
7
4
3
1
2
4
1
.•
1
.5.•
••
••
••
••
•
••
4
3
5.
2
••
••
••
Florida - noninsured
1
2
2
Georgia - insured
"
- noninsured
..
19
..
..
2
2
1
..
2
1
..
1
..
..
..
410
Illinois - noninsured
Indiana - noninsAxed
.
IA.
14
Kansas - noninsured
..
3
..
..
..
Kentuclg - noninsured
..
1
..
..
..
Louisiana - insured
..
..
1
..
..
Maine - insured
If
- noninsured
1
Massachusetts - noninsured
Michigan - noninsured
WMississippi - insured
"
- noninsured
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
1
..
..
OS
Iowa - noninsured
Maryland - insured
••
1
1
1
1
1
..
..
..
..
..
55
10
1
..
1
..
..
1
..
..
1
..
..
..
..
..
..
..
•
•
•
B.
Numbers of banks, branches., and banks ppeu..tkag branches,
added to and deleted from lists ty. States - continued
4116tate
Added
Missouri - noninsured
5
Montana - noninsured
1
Nebraska - insured
- noninsured
Nevada - noninsured
III
North Carolina - noninsured
North Dakota - insured
- noninsured
Ohio - insured
- noninsured
4100regon - noninsured
Pennsylvania - insured
I,
noninsured
Rhode Island - noninsured
South Carolina - insured
ft
- noninsured
South Dakota - insured
41/Tennessee - insured
Texas - noninsured
Virginia - insured
- noniasured
••
••
••
••
•
••
••
1
••
••
••
••
4
••
•
••
••
••
••
••
••
1
••
••
••
2
••
6
••
3
3
••
5
4
••
••
••
1
••
4
••
1
1
••
2
••
••
••
••
3
••
••
••
••
3
•
2
••
•
••
2
1
Wisconsin - noninsured
1
1
Virgin Islands - noninsured
1
••
••
• 0.
••
••
••
••
5
••
••
••
••
••
•
••
2
••
••
••
1
•
6
•.
1
••
••
••
1
••
1
••
••
2
••
2
••
1
••
1
••
••
1
••
•
1
••
••
••
••
•
••
••
••
••
••
••
•
••
1
9
••
1
2
••
1
8
••
••
5
Puerto Rico - noninsured
•
1
36
West Virginia - noninsured
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
••
••
1
•
••
••
••
Washington - noninsured
111Hawaii - noninsured
BranJhes
Deleted
Added
2
••
New Jersey - noninsured
Ak New York - insured
- noninsured
Banks
Deleted
Baaks operating
branches
Added
Deleted
••
••
1
••
1
••
1
3
4
1
••
••
•
NUMBER OF COMMERCIAL BANKS AND BRANCHES
DECEMBER 31, 1935
•
DIFFERENCES BETWEEN FIGURES PUBLISHED IN THE
1935 AND 1936 ANNUAL REPORTS
C.
Numbers of banks, branches, and banks oberatim branches, added
to and deleted from lists,
reason for addition or deletion
Revision
Insured banks - total
Deposit Insurance National Bank authorized to
accept deposits
Branches of insured banks - total
•
Not previously reported by the banks operating them
Offices notFreviously considered to be branches
Discontinued prior to 1935 but not reported until Later
Insured banks pperat_tag branches - total
Not previously reported as operating branches
Discontinued only branch prior to 1935
4112.11Insured banks - total
Banks in conservatorship or operating under restrictions
Private banks not under State supervision which are
engaged in deposit banking
Branches (chief offices) of foreign banks engaged in
deposit banking
Branches of foreign banks not engaged in deposit banking
Private bank under State supervision not engaged in
deposit banking
Industrial banks in States in which such banks are eligible
for insurance
Industrial banks not eligible for insurance
State owned and operated bank engaged in general
deposit banking
Incorporated commercial and stock savings banks in
the possessions not previously counted
Trust companies not engaged in deposit banking
Branches (formerly counted as banks) of banks located
in other States
Institutioqs incorporated under banking or trust company
law not engaged in deposit banking nor in fiduciary
business
•
Branches of noninsured banks - total
•
Branches not previously counted
Branches (formerly counted as banks) of banks located
in other States
Branches formerly counted but not operating on December 31, 1935
•
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Added
Deleted
1
1
28
24
4
1
S.
1
19
19
1
••
•
1
164
37
57
105
8
4
1
8
••
2
1
5
25
2
3
24
5
22
2
5
•
•
C. Numbers of banks, branches, and banks operatagi branches, added
to and deleted from lists, laz reason for addition and deletion - continued
111
Revision
Noninsured banks operatiix branches - total
Not previously reported as operatinig branches
Not previously counted among banks
Discontinued only branch prior to 1955
Bank excluded from revised count
•
•
•
•
•
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Added
Deleted
11
5
6
5
..
..
2
1
40
..
•
S
•
LISTS TO SUPPORT REVISION OF FIGURES REGARDING NUMBER
OF BANKS AND BRANCHES, DECEMBER 31, 1935
NUMBER OF INSURED BANKS NOT MEMBERS OF THE FEDERAL RESERVE SYSTEM
Revised to include one Deposit Insurance National Bank authorized to
accept deposits.
Pennsylvania:
Bradford
Deposit Insurance National Bank of Bradford
NUMBER OF BRANCHES OF INSURED BANKS
Revised to include 9 branches of national banks, 2 branches of State banks
members of the Federal Reserve System, and 13 branches of insured banks not
members of the Federal Reserve System not previously reported
the banks
operating them.
•
•
•
California: Casper
California: Casper
California: San Diego
Exposition Branch
Nebraska: Rosalie
New York: Constableville
North Dakota: Hampden
South Dakota: Ramona
Tennessee: Whitwell
Virginia: Fort Belvoir
Branch of Coast National Bank in Fort Bragg
Bank of America N.T. & S.A.(San Francisco)
Bank of America N.T. & S.A.(San Francisco)
First National Bank (Walthill)
First National Bank (Boonville)
First National Bank (Munich)
Oldham National Bank (Oldham)
First National Bank (South Pittsburg)
Citizens National Bank (Alexandria)
Maryland: Baltimore
Johns Hopkins Hospital
Pennsylvania: Waymart
Fidelity Trust Company (Baltimore)
Georgia: Columbus
Georgia: Dublin
Louisiana: Independence
Maine: Cumberland Mills
Mississippi: Noxapater
North Dakota: Alfred
North Dakota: Glenburn
North Dakota: Harlow
North Dakota: Know
Ohio: Cleveland
Slovenian National Home
Pennsylvania: Commodore
South Carolina: Due West
South Dakota: Bradley
Home Savings Bank (Columbus)
Farmers & Merchants Bank (Breton)
Guaranty Bank & Trust Co. (Hammond)
Westbrook Trust Co. (Westbrook)
Granada Bank (Granada)
State Bank of Streeter (Streeter)
Lincoln State Bank (Hankinson)
Farmers State Bank (Maddock)
Farmers State Bank (Minnewaukan)
North American Bank Co. (Cleveland)
Wayne County Savings Bank (Honesdale)
Peoples Bank of Clymer (Clymer)
Peoples Bank of Donalds (Donalds)
Citizens State Bank (Garden City)
Revised to include 5 offices of national banks and 1 office of a State bank
member of the Federal Reserve System not previously considered to be "branches".
•
•
New York: New York
52 Wall Street
Ohio: Columbus
Citizens Branch
Central Branch
New York: Syracuse
Head Office annex,
325 S. Salina St.
ft
" National City Bank of New York (New York)
Branches of Ohio National Bank of Columbus (Columbus
Branch of Syracuse Trust Co. (Syracuse)
Revised to exclude 1 branch of a national bank discontinued in 193f but not
reported until later.
Georgia: Rome
Broad Street
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Branch of The National City Bank of Rome (Rome)
Discontinued March 1933
•
NUMBER OF NONINSURED BANKS
Revised to include 37 banks in conservatorship or operating under restrictions.
Berryville
Peoples State Bank
Hermitage
Bradley County Bank
It
Marvel
Bank of Marvel
It
: Shirley
Bank of Shirley
Florida : Starke
Bank of Starke
Maine: Houlton
Houlton Trust Company
Mississippi: Charleston
Tallahatchie Home Bank
Missouri: Clark
Bank of Clark
TI
Ellington Bank
: Ellington
11
: Hannibal
Mark Twain Bank
11
Powersville
Farmers Bank
tt
: Waynesville
Waynesville State Bank
Montana : Medicine Lake
First State Bank
Nebraska: Clarks
Farmers State Bank
: Tarnov
Bank of Tarnov
Nevada: Austin
Lander County Bank
Battle Mountain
Battle Mountain State Bank
. Wells
Wells State Bank
?I
: Yerington
Mason Valley Bank
New Jersey: Bayonne
Mechanics Trust Company
" : : Hawthorne
Peoples Bank of Hawthorne
North Dakota: Burlington
First State Bank
: Goodrich
Citizens State Bank
: Grand Forks
Northwestern Trust Company:3
Landa
First International Bank
One of these four bankte11
(Note.
( not included in above
4.74figure of 37, but all four are reported by the Federal Reserve reconcilement statement with State abstracts to be
operating under restrictions and thus were presumably not
previously counted in Federal Reserve or FDIC statistics)
Ohio: Canton
Central Savings Bank & Trust Company*,
Oregon: F.pssil
Steiwer & Carpenter Bank
" : Maupin
Maupin State Bank
tt
: Shaniko
Eastern Orion Banking Clmpany
South Carolina: Abbeville
Operative Trust Company
tt
VT
: Simpsonville
The Farmers Bank of Simpsonville
IT
: Union
Nicholas Bank & Trust Company
Test Virginia : Elizabeth
Wirt County Bank
11
tt
Bank of Gassaway
: Gassaway
It
: Junior
Merchants and Miners Bank
: Moundsville
Marshall County Bank
: Summersville
Nicholas County Bank
Tisconsin: Milton Junction
State Bank of Milton Junction
Arkansas:
It
•
Revised to include 105 private banks not under State supervision which are
engaged in deposit banking.
Georgia:
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
11
11
It
11
tt
It
It
Blakely
Boston
Braselton
Claxton
Colvert
Concord
Culloden
Cuthbert
Doerun
Garfield
Hogansville
Midville
Mitchell
Parrott
Pearson
Senoia
Exchange Bank
Peoples Banking Co.
Braselton Banking Co.
Claxton Cash Depository
Beacham Banking Co.
J. F. Madden and Sons
Holmes Banking Co.
Davis Exchange Bank
Citizens Service Bank
Cason Banking Company
Citizens Bank
Midville Banking Co.
J. C. Kelly's Sons Bank
Pierce Exchange Bank
Citizens Exchange Bank
Redwine Bros., Bankers
•
•
3
NUMBER OF NONINSURED BANKS (con'd)
111
•
•
•
•
Revised to include 105 private banks not under State supervision which are
engaged in deposit banking. (continued)
Georgia: Smithville
Farmers and Merchants Bank
•
Vidalia
Brice Banking Company
• : Tillacoochee
Peoples Exchange Bank
Iowa: Adair
Exchange Bank
TT
Bloomfield
Exchange Bank
11
Brooks
Bank of Brooks
11
Galt
Bank of Galt
IT
Greenfield
Adair County Bank
T1
Imogene
Bank of Imogene
11
Kingsley
Ottman and Phelps Bank
Lanyon
Bank of Lanyon
U
Le Roy
Exchange Bank
11
Lone Rock
Lone Rock Bank
11
Lucas
Farmers and Miners Bank
11
New Market
Peoples Bank
(Note. This bank was erroneously counted as in operation
on December 31, 1935. After publication of the FDIC report
Mr. Horbett reported that this bank was placed" in liquidation in 1934, which information was confirmed by a letter
from the Rand McNally Bankers Directory, which states that
the bank was closed in 1933. Bank is also in Federal Reserve suspension list for 1333.)
Iowa:. led 0a1cHcw4on's Bank
Michigan.
den
arm s'Ena` Merchants Bank
: Bath
Peoples Bank
(Note. Erroneously counted as in operation on December 31,
1935. Reported by Mr. Horbett as placed in liquidation in
1933, and by Rand McNally as open for collections only since
January 1, 1935.)
Michigan: Bay Port
Bay Port Bank of W.H. Wallace and Co.
: Bear Lake
Citizens Bank
It
: Caseville
R. L. Hubbard and Co.
(Note. May have been erroneously counted as operating on
December 31, 1935. Reported by Mr. Horbett as placed in liguidation in 1934. The bank, in letter to Polk's states that deposits
were made available to depositors "a year ago", presumably in
1936. Bank is reported by Rand McNally as taken over by the Kinde
State Bank, Kinde, August 9, 1937, but no assets or liabilities
weye Ak9p over by the latter
7)7
e-*4_
Michigani 1aTr;
Dft Savingt Bank of Roe, Turner Field
and Company
: Deford
Deford Bank of A. Frutchey
: DeWitt
Woodruff Bros. Bank
Falmouth
Falmouth Bank
q9!:1_24- an o McNichol
rand Blanc
:
raT---uy-is change Bank
(Note. Erroneously counted as in operation on December 31, 1935.
Reported by Mr. Horbett as placed in liquidation in 1932. Bank,
in letter to Polk's, states that process of liquidation has been
in operation since 1932, but that reorganization is probable.)
Michigan: Hadley
Citizens Bank
: Lawton
Juan McKeyes and Company
(Note. Not licensed after banking holiday, and classed as suspension in 1933 by the Federal Reserve. Reported by directories,
however, as operating under moratorium since the banking holiday,
and for this reason should have been classified as "operating
under restrictions.")
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
•
4-
NUMBER OF NONINSURED BANKS (con'd)
•
Revised to include 105 private banks not under State supervision which are
engaged in deposit banking. (continued)
Lewiston
Lewiston Bank of Doty, Briley & Company
Martin Exchange Bank
: Martin
It
: Owendale
Owendale Bank of A.L. fright & Company
(Note. May have been erroneously counted as in operation on
December 31, 1935. Reported by Mr. Horbett as placed in liquidation in 1933, but Polk's states that the postmaster reports this
bank to be in operation on a restricted basis in 1937. Reported
by Rand McNally as in liquidation in 1936.)
Bank of Pickford
Michigan: Pickford
Hope
Citizens Bank of Stafford Smith & Company
Port
:
Prescott
Bank of Prescott
Rhodes
Rhodes Bank of T. S. Varty
it
Riga
Farmers & Merchants Bank of Jipson-Carter Co.
Ruth
Citizens Bank of Seaman, Tahla & Company
Sanford
Bank of Sanford of C. H. Macomber
Sidney
Bank of Sidney
Sterling Bank
Sterling
Bank of Swartz Creek
Swartz Creek
: Tower
Peoples Bank of M. D. Myers
(Note. Erroneously counted as in operation on December 311 1935.
Reported by Mr. Horbett as having liquidated its deposits,
liabilities and discontinued accepting deposits in 19212 The
bank, in a letter to Polk's states that is has not accepted deposits for several years, but is not being liquidated.)
Michigan: Trenery
Home Savings Bank
: Talkerville
Security Bank
(Note. Not licensed after the banking holiday, and classified
as a suspension in 1933 by the Federal Reserve. Reported by
directories, however, as operating under moratorium since the
banking holiday, and for this reason should have been classified as "operating under restrictions.")
Michigan: Weidman
Weidman Banking Co.
: Test Branch
Commercial Bank of Tolfree Livingstone
II
: Willis
Willis Exchange Bank
11
: Winn
V:inn Banking Company
Pennsylvania: Minersville
Michael Boruch
(Note.Erroneously counted as in operation on December 511 1935.
The State department of banking, in a letter to Polk's, reports
that Michael Boruch died in March 1935, and that the certificate
of authorization to engage in banking was returned for cancellation. Bank is also reported by Mr. Horbett as in liquidation in
1935.)
Benavides
Merchants Exchange Bank
Bradshaw
Bank of Bradshaw
D. Yturria
Brownsville
Castroville
L. M. Tondred and Sons
Chico
First Bank of Chico
Chillicothe
Bank of Chillecothe, Inc.
Chilton
Chilton Citizens Bank
Cibolo
Cibolo Bank, Uninc.
Dalby Springs
Dalby Springs Exchange Bank
Eajle Pass
Viguera Banking Company
Fort Worth
Fraternal Bank and Trust Company
Galveston
1.k. L. Moody and Company
Galveston
H. Kempner
Jermyn
Oliver Loving and Company, Bankers
Joshua
Citizens Banking Company
Kerrville
Chas. Schreiner Bank
Michigan:
•
•
•
•
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
S
5
•
NUMBER OF NONINSURED BANKS (contd)
Revised to include 105 private banks not under State supervision which are
engaged in deposit banking,. (continued)
Texas:
ft
ft
ft
ft
Vt
ft
tf
ft
It
•
ft
It
ft
Vt
ft
It
TI
It
ft
•
•
Kingsville
Robert J. Kleberg and Company
Leander
Poole-Sherman Company
Leroy
Leroy Bank
Mason
Commercial Bank
New Baden
Paul Schultz Bank
Panhandle
Panhandle Bank
Peacock
Peacock Bank
Feaster
Farmers Bank
Priddy
Farmers and Merchants Bank
Rio Mediana
Alex Boehme and Company
San Antonio
American Savings Bank
San Antonio
D. and A. Oppenheimer
Sequin
E. Nolte and Sons Bank of Sequin
Sugar Land
Imperial Bank and Trust Company
Taft
Taft, Bank, "(Mine.
Troy
Citizens Exchange Bank
Truscott
First Bank of Truscott
Wingate
Security Bank
Winnsboro
Cain Banking Co., Uninc.
Zapata
Bank of Zapata
(Note. The original list of private banks in Texas used
in the revision of the figures for December 712 1935, excluded two of the banks named above--H. Kempner, at Galveston, and Alex. Boehme and Co., at Rio Mediana--and included two banks not named above--Gordon Banking and Mercantile
Company, at Gordon, and H. L. Roberts and Company, at Hitchcock. The latter two banks are reported by Mr. Horbett as
in liquidation in 1934, and the fact that they are no longer
in business has been confirmed by the directories. The former two banks are reported by Mr. Horbett as operating, and
their operation in a limited way as banks of deposit is confirmed by letters to the directories. One other bank, the
Russell Exchange Bank, at Ammona, reported by Mr. Horbett as
operating, states in letters to the directories that it is
not in active operation.)
Revised otherwise to adjust the number in conformity with definitions and
criteria set forth - as indicated below:
To include 8 branches of foreign banks engaged in general deposit banking
(classified as banks in their respective States)
•
•
Massachusetts: Boston
Oregon: Portland
Washington: Seattle
Hawaii: Honolulu
Puerto Rico: San Juan
It
ft
11
1t
ft
ft
ft
ft
Bank of Nova Scotia, Boston Branch
Canadian Bank of Commerce
Canadian Bank of Commerce
Yokohama Specie Bank, Ltd.
National City Bank of New York
Chase National Bank of New York
Royal Bank of Canada
Bank of Nova Scotia
To exclude 4 branches of foreign banks not engaged in general deposit
banking (previously counted as banks in California)
California:
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
San Francisco
ft
ft
ft
It
Bank of Montreal
Hong Kong and Shanghai Banking Corp.
Agency of the Canadian Bank of Commerce
The Sumitomo Bank, Ltd.
•
6
NUMBIR OF NONINSURED BANKS (conle.)
111
Revised otherwise to pdjust the number in conformity with definitions and
criteria set forth - as indicated below: (continued)
To exclude 1 private bank not engaged in general deposit banking.
Conneticut:
Hartford
Isaac Berman
To include 8 industrial banks in States in which such banks are considered eligible for admission to insurance by the Federal Deposit Insurance
Corporation.
New York: Albany
: Troy
North Carolina: Asheville
"
Charlotte
Charlotte
!I
Hickory
ft
ft
Marion
It
Morganton
Q
Morris Plan Industrial Bank of Albany
Troy Prudential Association, Inc.
Carolina Industrial Bank
Citizens Savings & Loan Company
Industrial Loan & Investment Company
Industrial Bank
Industrial Bank
Industrial Bank
To exclude 2 industrial banks not operating under general banking codes
Sr otherwise considered eligible for admission to insurance by FDIC
FloriCa:
" :
•
Orlando
Tampa
The Morris Plan Company of Orlando
The Morris Plan Company of Tampa
To include 1 State owned and operated bank engaged in general deposit
banking.
North Dakota:
Bismarck
Bank of North rakota
To include 5 incorporated commercial and stock savings banks in the
possessions not previously counted (listed in Treasurer's report but
not in Rand McNally Bankers Directoy.)
Puerto Rico:
Aguadilla
San German
San Juan
San Juan
Virgin Islands: Christiansted
•
Banco de Agricola de Aguadilla
Banco de San German, Inc.
Credit Union Bank
Progreso Financiers, Inc.
New St. Croix Savings Bank
To exclude 25 trust companies not engaged in deposit banking
•
s
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Arkansas: Helena
Guaranty Loan & Trust Company
Connecticut: Hartford
Middletown Trust Company
tllinois: Decatur
Millikn
e Trust Company
Indiana: Gary
Bankers Trust Compamy
Noblesville
Wainright Trust Company
Kansas: Atchison
Commercial TrustI CompI
any
" : Winfield
Fidelity Trust Company
Kentucky: Bowling Green
Potter-Matlock Trust Co.
Michigan: Ann Arbor
Ann Arbor Trust Company
Bay City
Bay Trust Company
Detroit
Detroit Trust Company
Detroit
Equitable Trust Company
Detroit
Union Guardian Trust Company
Grand Rapids
Grand Rapids Trust Company
Graid Rapids
Michigan Trust Company
Hancock
Superior Trust Company
Lansing
Central Trust Company
: Muskegon
Bankers Trust Company
(note. Some of these companies in Michigan hold, as part
of their fiduciary business, "corporAe agency deposits."
Mr. Robinson suggests that the trust indentures under
Ihich these deposits are held are so drawn that the deposits
are virtually demand deposits, rather than normal uninvested
trusts funds and that for this reason these trust companies
should not be excluded •
from the count of commercial banks.)
•
•
NUMBER OF NONINSURED BANKS (contd.)
411
Revised otherwise to adjust the number in conformity with definitions and
criteria set forth - as indicated below: (continued)
To exclude 25 trust companies not engaged in deposit banking (con t d)
Central Trust Company
Test Virginia: Charleston
First Trust Company
.Wisconsin: AiTleton
Bishop Trust Company, Ltd.
Hawaii: Honolulu
Honolylu
Cooke Trust Co., Ltd.
•
Honolulu
Hawaiian Trust Co., Ltd.
•
Honolulu
Honolulu Trust Co., Ltd.
11
Honolulu
Union Trust Company, Ltd.
f1
Honolulu
United Chinese Trust Coipany, Ltd.
(Note. Only 5 of these 6 trust companies in Honolulu were
excluded in the revision of the list of noninsured banks,
one of them--name unavailable--was also excluded from the
former list.)
•
To exclude 2 branches of banks located in another State, but formerly
counted as banks. These institutions are licensed as banks in
Pennsylvania but their assets and liabilities are included in statements of the parent banks in New York City.
Pennsylvania: Philadelphia
: Philadelphia
•
Brown Bros., Harriman and Company
Drexel and Co., (branch of J.P. Morgan & Co.)
To exclude 3 institutions incorporated under general banking or trust
companies laws but not engaged in deposit banking nor in fiduciary business
Kansas: Wichita
Virginia: Richmond
•
: Richmond
Home Mortgage Title and Trust Co.
Guaranty Trust Co.
Pollard and Bagby Trust Co.
NUMBER OF BRANCHES OF NONINSURED BANKS - COMMERCIAL
•
Revised to include 22 branches, chili in the possessions, not previously
counted.
Florida: St. Augustine
H
Tallahassee
Georgia: Haralson
n
Tyrone
Massachusetts: Boston
Michigan: Elk Rapids
Rhode Island: Pawtucket
•
•
" : Providence
Test Side Branch
East Side Branch
Olneyville Branch
Smith Street Branch
Rhode Island: Woonsocket
Wisconsin: Arpin
Puerto Rico: Arecibo
•
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
•
Bayamon
Caguas
11
It
•
Fajardo
Mayaguez
: Mayaguez
" : Ponce
Branch of Morris Plan Savings Bank(Jacksonville:
•
" Morris Plan Savings Bank(Jacksonville)
It
Redwine Brothers, Bankers (Senoia)
TI
Redwine Brothers, Bankers (Senoia)
• Brown Bros., Harriman & Co. (N.Y.C.)
Farmers & Merchants Bank (Alden)
If
Rhode Island Hospital Trust Company
(Providence)
Branches (4) of Rhode Island Hospital Trust Co.
Rhode Island Hospital Trust Com.any
(Providence)
Vesper-Arpin Bank (Vesper)
National City Bank of New York (San
Juan)
National City Bank of New York (San
Juan)
National City Bank of New York (San
Juan)
Bank of Nova Scotia (San Juan)
National City Bank of New York (San
Juan)
Royal Bank of Canada (San Juan)
National City Bank of New York (San
Juan)
•
8
NUMBER OF BRANCHES ON NONINSURED BANKS - COMMERCIAL (con'd)
Revised to include 22 branches, chiefly in the possessions, not previously
counted.
Puerto Rico:
Ponce
Rio Piedras
Branch of Royal Bank of Canada (San Juan)
Banco Popular de puerto Rico
Revised to include 2 branches of New York City banks located in another State
and formerly counted as banks in that State.
Pennsylvania: PHiladelphia
ft
: Philadelphia
Drexel and Company
•
Revised to exclude 5 branches formerly counted but not operating in December 31,
1935.
Pennsylvania: Tremont
Hawaii: Wailuku
Puerto Rico: Caguas
: Juncos
• : Rio Piedras
•
Branch of Brown Bros., Harriman & Co.(New York)
Branch of Morgan and Co. (New York)
Branch of Pine Grove Bank (Pine Grove)
•
" Union Trust Company (Honolulu)
Banco Popular de Puerto Rico
Roig Commercial Bank (Humacao)
Roig Commercial Bank (Humacao)
NUMBER OF BRANCHES OF NONINSURED BANKS - MUTUAL SAVINGS
Revised to include 2 branches not previously counted
Massachusetts: Somerville
1155 Broadway
New Hampshire: Ashland
Branch of Somerset Savings Bank (Somerville)
ft
" Meredith Village Savings Bank
(Meredith)
Revised to exclude 7 branches not in operation December 31_,_ 1935.
•
Massachusetts: Fitchburg
: Millville
tt
: Plymouth
318 Court Street
Massachusetts: Saugus
ft
: Worcester
231 Grant Street
3 rebster Square
414 West Boylston Street
Branch of Fitchburg Savings Bank (Fitchburg)
11
IT
Uxbridge Savings Bank (Uxbridge)
" Plymouth Savings Bank (Plymouth)
"
Branch of Lynn Institttion for Savings (Lynn)
Branches of Worcester County Institution
for Savings (Worcester)
NUMBER OF BANKS OPERATING MORE THAN ONE OFFICE
•
Revised to include 7 national banks, 2 State banks members of the Federal Reserve
System, 10 insured banks not members of the Federal Reserve System, 11 noninsured
mutual savings bank, previously counted as unit banks, or not counted as operating
banks.
•
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
California: Fort Bragg
Nebraska: Talthill
New York: Boonville
North Dakota: Munich
Coast
First
First
First
National
National
National
National
Bank
Bank
Bank
Bank
•
9-
411
NUMBER OF BANKS OPERATING MORE THAN ONE OFFICE (conld)
Revised to include 7 national banks, 2 State banks members of the Federal
Reserve System, 10 insured banks not members of the Federal Reserve System,
11 noninsured commercial banks, and 1 noninsured mutual savings bank, pre:viously counted as unit banks, or not counted as operating banks. (contd)
•
•
•
South Dakota: Oldham
Tennessee: South Pittsburg
Virginia: Alexandria
Oldham National Bank
First National Bank
Citizens National Bank
Maryland: Baltimore
Pennsylvania: Honesdale
Fidelity Trust Company
Wayne County Savings Bank
Georgia: Brewton
" : Columbus
Maine: Westbrook
North ilakota: Hankinson
It
Maddock
It
Minnewaukan
It
Streeter
Pennsylvania: Clymer
South Carolina: Donaldo
South Dakota: Garden City
Farmers and Merchants Bank
Home Savings Bank
Westbrook Trust Company
Lincoln State Bank
Farmers State Bank
Farmers State Bank
State Bank of Streeter
Peoples Bank of Clymer
Peoples Bank of Donaldo
Citizens State Bank
Florida: Jacksonville
Georgia: Senoia
Michigan: Alden
New York: New York
•
: New York
Rhode Island: Providence
Wisconsin: Vesper
Puerto Rico: San Juan
San Juan
It
San Juan
It
•
San Juan
Morris Plan Savings Bank
Redwine Brothers, Bankers
Farmers and Merchants Bank
Brown Bros., Harriman & Company
Morgan and Com-Jany
Rhode Island Hospital Trust Company
Vesper-Arpin Bank
National City Bank of New York
Royal Bank of Canada
Bank of Nova Scotia
Banco de Puerto Rico
New Hampshire:
Meredith Village Savings Bank
Meredith
Revised to exclude 1 national bank, 3 noninsured comercial banks, and
4 noninsured mutual savings banks which did not have branches operating
December 31, 1935, or have been excluded from the list of operatingbanks
Georgia:
•
•
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Rome
The National City Bank of Rome
Pennsylvania: Pine Grove
Hawaii: Honolulu
Pterto Rico: Humacao
Pine Grove Bank
Union Trust Company
Roig Commercial Bank
Massachusetts:
▪
•▪
•
Fitchburg Savings Bank
Lynn Institution for Savings
11.yilouth Savings Bank
Worcester County Institution for Savings
Fitchburg
Lynn
Plymouth
Worcester
•
•
•
LIST TO SUPPORT FOOTNOTES TO TABLE 102
(Numbers preceding names of banks refer to list of
changes among banks by type of change)
•
FOOTNOTE 1.
One bank which operated for several months, and several others which operated for
shorter periods of time, prior to admission to insurance:
27
14
19
20
Oklahoma: Claremore
Georgia: Dawson
Iowa: Livermore
Iowa: Mason City
Rogers County Bank
Bank of Terrell
Livermore State Bank
United Home Bank and Trust Co.
Opened
Admitted
1-4-56
5-1-56
1-15-56
8-29-36
7-9-56
7-10-56
2-11-56
9-11-36
(For banks operating less than one month prior to admission to insurance see Miss
Follis' journal of bank changes)
•
One bank organized to take over the certificates of indebtedness of a Morris Plan
company in order to covert those obligations into deposits eligible of insurance
by the Federal Deposit Insurance Corporation:
22
Minnesota:
Northwestern State Bank of Duluth
Duluth
FOOTNOTE 2.
*banks in receivership since 1934 which were reorganized:
60
62
Ohio:
Ohio:
Gibsonburg
Minerva
The Gibsonburg Banking Company
Minerva Banking Company
One newly chartered bank organized to take over selected
liabilities of a bank in receivership;
61
Ohio:
Holgate
ssets
t, assume deposit
The Holgate State Bank
bank organized to replace at date of pay-off of insured deposits,
tion of liabilities or purchase of assets; .c..)
*
65
Texas:
Sherman
Grayson County State Bank
One bank in receivership since 1952:
64
•
Kentucky:
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Prospect
Bank of Prospect
it out assump-_
-2-
•
FOOTNOTE 2. - continued
One bank in receivership since 1934:
665
Michigan:
Detroit
Michigan Industrial Bank
FOOTNOTE 3.
Th.reJ
.6.83 in which deposits of the "absorbed" bank were not directly assumed by the
absorbing institution:
209
211
212
Indiana:
Indiana:
Indiana:
Flora
Indianapolis
Indianapolis
Flora State Bank
Brightwood State Bank
State Bank of Massachusetts Avenue
FOOTNOTE 4.
banks operating under restrictions which were placed in receivership of
0a noninsured
liquidation:
322
337
338
339
341
344
346
348
A115503.
.11.353
Arkansas: Shirley
Bank of Shirley
Missouri: Clarke
Bank of Clarke
Missouri: Ellington
Ellington Bank
Missouri: Hannibal
iilark Twain Bank
Missouri: Powersville
Farmers Bank
Nebraska: Tarnov
Bank of Tarnov
Nevada: Wells
Wells State Bank
New Jersey: Bayonne
Mechanics Trust Company
South Carolina: Abbeville Operatives Trust Company
Wisconsin: Milton Junction
State Bank of Milton Junction
FOOTNOTE 5.
One bank reorganized under a new charter:
398
Missouri:
Waynesville
•
Waynesville Security Bank
FOOTNOTE 6.
One national bank succeeding a Deposit Insurance National Bank:
413
•
Pennsylvania:
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Bradford
Citizens National Bank of Bradford
-3
•
•
FOOTNOTE 7.
One successor bank to a suspended insured bank which did not assume deposit liability,
but took over part of the assets and is operated by the same management as the
suspended bank:
0
511.
Missouri:
Wellsville
Bank of Wellsville
One noninsured bank which succeeded a bank which had been operating under restrictions:
512.
Mississippi:
Charleston
Tallahatchie County Bank
FOOTNOTE 8.
One case in which a bank successor to an insured bank operated for one month prior to
admission to insurance;
517.
Missouri: Morehouse
State Bank of Morehouse
Succeeded Morehouse Trust Company 5-29-36; admitted to insurance 6-29-36
One case in which the successor bank was opened and operated as a noninsured bank for
about three months prior to admission to insurance and absorption of the predecessor insured bank:
521.
Texas: Borger
Panhandle State Bank
Successor to the First State Bank of Panhandle, the process being as follows:
(1) new bank at Borger opened for business 1-22-36; (2) new bank admitted to insurance 3-24-36; (3) new bank absorbed bank at Panhandle 4-12-36.
"lease in
which an insured bank merged under its own name with a trust company not
engaged in deposit banking:
520.
Tennessee:
Nashville
Nashville Trust Company
PREVIOUS HISTORY BACK TO JANUARY 1, 1934, OF 57 BANKS REGULARLY
OPERATING AT BEGINNING OF YEAR ADMITTED TO INSURANCE IN 1937
ty-four operating January 1, 1934:
r366.
368.
569.
370.
371.
372.
373.
374.
Iowa:
Iowa:
Iowa:
Iowa:
Mitchellville (Ira)
Red Oak
Rock Rapids
Sioux Rapids
(Linn Grove)
Kansas: Effingham
Kansas: Herndon
Kansas: Herndon
Kansas: Kackley
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Farmers Savings Bank
Red Oak Trust and Savings Bank
Rock Rapids State Bank
First State Bank
The Farmers and Merchants State sank
The First State Bank
State Bank of Herndon
Kackley State Bank
•
4
•
•
Twenty-four operating January 1, 1954: - (continued)
375.
Alhp76.
577.
,
111
378.
379.
380.
383.
385.
386.
388.
389.
390.
391.
392.
393.
394.
Kansas: Ludell
Kansas: McLouth
Kansas: Ransom
Kansas: Troy
Minnesota: Lake Elmo
Missouri: Wyaconda
Oklahoma: Anadarko
Pennsylvania: Woodbury
Texas: Brookshire
Texas: Groesbeck
Texas: Kopperl
Texas: Marion
Texas: Round Rock
Texas: Stockdale
Virginia: Speedwell
West Virginia: Terra Alta
The Farmers State Bank
The Bank of McLouth
The Farmers State Bank
The Troy State Bank
State Bank of Lake Elmo
Peoples Bank of Wyaconda
Anadarko Bank and Trust Company
Farmers State Bank
Farmers State Bank
The Farmers State Bank of Groesbeck
Kopperl State Bank
The Marion State Bank
Farmers State Bank of Round Rock
Security State Bank
Bank of Speedwell
Terra Alta Bank
banks operating January 1, 1934 which incorporated just prior to admission
411eetoprivate
insurance:
360. Georgia: Arlington
567. Iowa: Red Oak
384. Pennsylvania: Martinsburg
Bostwick Banking Company
Houghton State Bank
Morrison's Cove Bank
Four operating as private banks on January 1, 1934, but had been incorporated in 1935:
361.
Georgia: Comer
Georgia: Summit
364. Iowa: Anita
387. Texas: Gladewater
4101B62.
Rowe Banking Company
Durden Banking Company, Inc.
Anita State Bank
The First State Bank
Two operating as national banks on January 1, 1934, but had taken out State charters
in 1935:
382. Nebraska: Randolph
365. Iowa: Aurelia
iiv
First State Bank of Randolph
The First Trust and Savings Bank
e beginning operation in 1935:
565. Georgia: Unadilla
381. Montana: Cut Bank
395. Wisconsin: Reedsburg
Exchange Bank of Unadilla
Bankof Glacier County
Fanners and Merchants Bank
One located in the Virgin Islands which was operating Janwiry 1, 1934 under a Danish
charter, and had been reorganized as a national bank in 1935
396.
Virgin Islands:
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
St. Thomas
Virgin Islands National Bank
•
•
7.
•
Major factors in growth of deposits and assets
a. Tbble 21 and text
b. Supplementary table: Analysis of factors in the
growth of bank deposits and assets 1936 and
1935
•
•••,
•
•
•
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Factors in growth of deposits and assets. As in 1935, the
growth of deposits in 1936 reflected chiefly Treasury purchases of
gold and silver and sale of United States Government obligations to
the banks. The magnitude of these operations, however, and their
influence on the growth of deposits was considerably less in 1936 than
in 1935. On the other hand, loans and holdings of securities other
than United States Government obligations, which had increased by
only $0.6 billion in 1935, increased by more than $2 billion during
1936. Interbank obligations and float (checks in process of collection) increased by $1 billion in 1936. The figures are summarized in
Table 21. The table shows figures for all commercial banks. Practically all of the changes, however, occurred in the insured commercial banks.
Table 21.
MAJOR FACTORS IN THE GROWTH OF DEPOSITS AND ASSETS
OF COMMERCIAL BANKS, 1935 AND 1936
(Amounts in billions of dollars)
1936
Factors tending to increase deposits and assets
total
Monetization of gold and silver bullion,
Net purchase of obligations of the United States Government
Net increases in loans and holdings of securities other than United States
Government obligations ...........................
Increase in domestic interbank obligations
Increase in float
..................
Factors tending to decrease deposits and assets
total
Withdr11101f cash by the pblic
Other factors--net influence'........
Net growth in total deposits
I
1935
6.0
6.6
1.4
1.5
2.3
'2.2
2.1
0.7
0.3
0.6
1.1
0.4
1.2
0.6
0.6
0.9
5.2
5.5
'Factors tending to reduce assets hut not deposits:
Retirement of bonds pledged to secure banknotes ...
..........
Net growth in total assets
5.2
0.7
4.8
glees not include gold purchased by the United States Government and held in its "inactive
account"
'Excluding retirement of bonds pledged by banks to secure national bank notes.
ANALYSIS OF FACTORS IN THE GROWTH OF BANK DEPOSITS AND ASSETS
1936 AND 1935
1.
S
Changes in assets and liabilities of commercial banks
Line
number
Dec. 31,
1936
Deo. •31,
1935
revised V
Dec. 31,
1935
unrevised
Dec. 31,
1934
Change
durinG
1936 .1/
-
Change
tacaXv
during
1935 4( number
s• 1
,
_
1.
Assets - total
58,156
52 777
52,696
47,836
45,379
44,860
,MINOMMENI
2.
3.
4.
5.
6.
7.
8.
9.
10.
11.
12.
13.
•
United States government obligations, excluding bonds
pledged for circulating notes
United States bonds pledged for circulating notes
Loans, discounts and "other" securities
Miscellaneous assets
Cash and amount due from banks - total
Cash and due from banks - noninsured banks
Balances with banks in foreign countries - insured loa2A5
Cash items in process of collection - insured
Interbank deposits - insured banks
Interbank adjustment - insured banks
Coin and currency - insured banks
Reserve with Federal Reserve banks
y
y
14.
0
15.
16.
17.
18.
15,290
..
24,278
2,333
16,255
524
58
2,595
6,657
-1,068
917
6,572
13,826
..
22,258
2,373
14,320
469
55
2,304
5,941
-892
870
5,573
13,806
••
22,209
2,368
14,313
462
55
2,304
5,941
-892
870
5,573
11,411
680
21,654
2,569
11,522
319
190
1,944
4,795
-602
793
4,082
.1,464
..
*2,020
-40
*1,935
455
43
+291
4716
-176
«47
4999
42,395
-680
*555
-201
*2,791
+143
-135
*360
*1,146
-290
477
41,491
45,532
..
6,518
646
40,043
651
6,431
711
«5,229
+5,489
...651
«87
...65
2
14
3
10
7
7, 10
5
4
10
8
2/
Liabilities - total
Total deposits
Circulating notes
Total capital account
Miscellaneous liabilities (excluding circulating notes)
50,840
••
6,636
680
45,611
••
6,517
649
.As published in 1936 Annual Report, page 134.
.21 As published in 1935 Annual Report, page 170.
Using revised figures for Dec. 31, 1935, as they are the more comparable with
1936 figures.
•
• Using unrevised figures for Dec. 31, 1935, as they are the mare
comparable
with 1934 figures.
▪ As reported on liability side of balance sheet.
.6
.
/ Differences between balances with other banks (private banks and American
branches
of foreign banks, other demand balances with banks in U. S., and other
time
balances with banks in U. S.) reported among assets and interbank deposits
reported among liabilities.
•
•
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
71 See currency and reserve bank statement, next page.
*119
.31
11
12
AliALYSIS OF FACTORS IN THE GROWTH OF BANK DEPOSITS AND ASSETS
1936 AND 1935
2. Changes in combined currency and Reserve Bank statements
Line
number
19.
20.
21.
22.
23.
24.
25.
26.
27.
28.
29.
30.
31.
III
Credit items - combined currency and Reserve Bank
statements - total
Member bank reserve balances
Treasury cash and deposits with reserve banks
Nonmember deposits
Other Federal Reserve accounts
Currency in circulation (outside Treasury and Reserve banks) - total
Federal Reserve notes
National banks
Treasury currency and gold
National and Federal Reserve banknotes
Silver certificates and dollars
Subsidiary coins and U. S. notes
Gold certificates
34.
35.
36.
37.
38.
Dec. 31,
1935
Dec. 31,0
1.934 1/
Change
during
1936
Change
during
1935
16,289
15,087
13,212
-
*1,202
+1,875
6,606
2,620
259
261
6,543
4,233
••
2,310
351
1,095
769
95
5,587
3,110
255
253
51_882
3,667
•.
862
719
109
4,096
3,150
189
241
5,536
3,176
651
1
_e 709
270
624
685
130
"1,019
-490
«4
*8
«661
«566
..
-95
-173
*233
*50
-14
*1,491
-40
*66
«12
*346
*491
-651
-506
«254
*238
434
-21
2,500
11,258
2,532
359
1,323
850
2,486
10,125
21_476
541
1,124
811
2,463
8,238
2,51l
969
755
787
*14
*1,133
.56
-182
*199
*39
*23
*1,887
-35
-428
*369
*24
W15
524
Classification
item number
(see page 3)
6
10
10
8
Debit items - combined currenci and Reserve Bank
-----177tement
32
.
33.
Dec. 31,
1936 2-/
Reserve bank credit (assets of Reserve banks other than gold
and Treasury currency)
Monetary gold stock
Treasury and national bank currency outstanding - total
National and Federal Reserve banknotes
Silver dollars and bullion
Subsidiary coins and U. S. notes
•
•
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
.21 Annual Report of Board of Governors of the Federal Reserve system
1936, pages 70, 108 and 110.
7
1
9
1
7
ANALYSIS OF FACTORS IN THE GROATH OF BANK DEPOSITS AND ASSETS
1936 AND 1935
3.
Item
number
Classification of factors and items
From
line
In millions of dollars
1935
1936
Factors tending to increase .deposits
and assets - total (excluding miscellanesous)
•
In billions of dollars
As published
As re.in 1936 Report
vised 6-24-38
1936
1936
1935
1935
6,313
6,752
6.3
6.8
6.2
6.7
1
1
34
37
Monetization of gold
Monetization of silver
1,133
199
1,887
369
1.3
irs45-
2.3
-2105-
1.3
-1-175
2.2
2
3
4
5
6
2
4
10
9
21
Net purchase of U.S. government obligations
Net increase commercial lcsns and (securities
Increase in domestic Interbank obligations
Increase in flma
Reduction in Treasury cash balance
Inc-ease in coin and currency held by insured banks
(see item 8 below)
Miscellaneous factors (included with item 10) - total
Noninsured banks' cash and due from banks
Balances with banks in foreign countries
Issue of subsidiary coins and U. S. notes
Expansion of reserve bank credit
1,464
2,020
716
291
490
2,395
555
1,146
360
40
1.5
2.0
0.7
0.3
0.5
2.4
0.6
1.1
0.4
••
1.4
2.0
0.7
0.3
0.5
2.4
0.6
1.1
0.4
••
111
55
3
39
14
190
143
933
4211
0.9
1.2
0.9
1.2
614
182
137
40
269
428
514
0.6
0.2
0.3
0.4
0.6
0.2
0.3
0.4
YoT.
0.1
0.5
0.1
0.4
•.
176
4
135
290
66
12
20
-111
••
-190
150
116
0.2
0.1
0.1
0.1
119
31
87
•.
••
29
••
65
••
0.1
••
••
••
65
•.
680
••
0.7
7
7
8
38
33
•
Factors tendinEto decrease deposits
and assets - total
8
9
10
24-12
36
5
8
11
22
23
20-13
•
Withdrawal of cash by public
Withdrawal of national banknotes for cancellation
Miscellaneous factors - net total
Decrease in miscellaneous assets
Balances with banks in foreign countries
Interbank adjustment
Nonmember deposits
Other Federal Reserve accounts
Difference between member bank re3erve balances reported
by banks and by the Federal Reserve Board
From item 7
Factors tending to reduce deposits but not
assets - total
11
12
17
18
3-16
•
Increase in total capital account
Increase in miscellaneous liabilities
Excess of bank retirement over reduction in banknote
circulation
Factors tending to increase deposits but not
assets - total
13
18
Decrease in miscellaneous liabilities
Factors tendincr to reduce assets but not
deposits - total
11
24
23
0.7
•••••••••
14
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
4
680
Retirement of bonds pledged to secure banknotes
Net growth in
1936: 6313
1935: 6752
Net growth in
1936: 6313
1936: 6752
total deposits
- 933 - 150
- 1,211 - 116
total assets
- 933
- 1211 - 680
5,230
5,490
5.2
5.5
5,380
4,861
5.4
4.9
5.2
5.5
65
5.3
4.9
ANALYSIS OF FACTORS IN THs GROWTu y BANK D6
)
0SITS AND ASSSTS
1936 AND 1935
4.
Items from
Guide to classification of factors and items
Increase
assets
and
deposits
Decrease
assets
and
deposits
Factors tending to
Decrease
Increase
assets
assets
but not
but not
deposits
deposits
Increase
deposits
but not
assets
Decrease
deposits
but not
assets
Commercial bank statement
Assets other than bonds pledged for circulating notes:
Increase
Decrease
X
X
Assets (bonds) pledged for circulating notes:
Increase
Decrease
X
X
Total capital account and miscellaneous liabilities:
Increase
Decrease
X
Combined currency and Reserve tank statement
Credit items other than member bank reserve balances:
Increase
Decrease
Debit items:
Increase
Decrease
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
X
X
X
X
•
•
•
8.
Assets and liabilities of operating banks
a. Tables 114 and 115
b.
c.
1,ist to support Table 114: Noninsured banks for which
assets and liabilities are not given
List to support footnote to Table 114
•
Asse.X)
avul
L.
•
•
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Ohio
Insured banks
Noninsured banks
Oregon
Insured banks
Noninsured banks
Pennsylvania
Insured banks
Noninsured banks
Rhode Island
Insured banks
Noninsured banks
Vermont
Insured banks
Noninsured banks
Washington
Insured banks
Noninsured banks
Wisconsin
Insured banks
Noninsured banks
.it
II
117,521
117,621
1,382
1,382
1,097
1,097
1,097
1,097
5,624
5,624
569,528
5,624
563,904
174,662
174,662
66,933
66,933
327
135
327
292
292
4,800
4,848
4,848
138
138
1,506
1,506
'Deposits of insured banks are daily averages for the year; those of noninsured banks are as of December 31, 1936.
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
4,800
13,629
13,629
2,446
2,446
698
698
57,627
57,627
4,079
4,079
135
109,048
109,048
7,091
7,091
2,435
2,435
20,698
20,698
77,851
486,053
77,851
103,602
486,053
65,798
103,602
27,466
27,466
65,798
54,483
54,483
SH3Idd0 DNINI•IVCI AO SIISOdHoa
•
•
a
134
FEDERAL DEPOSIT INSURANCE CORPORATION
ASSETS AND LIABILITIES OF OPERATING BANKS
Table 114. SUMMARY OF ASSETS AND LIABILITIES OF OPERATING COMMERCIAL
BANKS IN THE UNITED STATES AND POSSESSIONS, DECEMBER 31, 1935,
JUNE 30, 1936, AND DECEMBER 31, 1936
1935
Dec. 31
All banks
1936
June 30
Dec. 31
(In millions of dollars)
ASSETS
Cash and amounts due from other banks
United States Government obligations, direct and fully guaranteed
Other securities
Loans, discounts, and overdrafts
Miscellaneous assets
Total assets
14,320
13,826
7,115
15,143
2,373
52,777
14,516
15,346
7,714
15,547
2,357
55,480
16,255
15,290
7,888
16,390
2,333
58,156
LIABILITIES
Total deposits
Miscellaneous liabilities
Total capital account
Total liabilities and capital account
45,611
649
6,517
52,777
48,161
715
6,604
55,480
50,840
680
6,636
58,156
Number of banks:
Included in above figures
Not included in above figures
Total operating
15,312
62
15,374
15,211
62
15,273
15,092
59
15,151
Insured banks
(In millions of dollars)
ASSETS
Cash and amounts due from other banks
United States Government obligations, direct and fully guaranteed
Other securities
Loans, discounts, and overdrafts
Miscellaneous assets
Total assets
13,851
13,275
6,841
14,698
2,253
50,918
14,039
14,772
7,412
15,107
2,248
53,578
15,731
14,749
7,558
16,940
2,218
56,196
LIABILITIES
Total deposits
Miscellaneous liabilities
Total capital account
Total liabilities and capital account
44,126
582
6,210
50,918
46,626
654
6,298
53,578
Ap,258
6096,329
56,196
Number of banks:
Included in above figures
Not included in above figures,
Total operating
14,123
3
14,126
14,059
6
14,065
13,970
3
13,973
Noninsured banks
(In millions of dollars)
ASSETS
Cash and amounts due from other banks
United States Government obligations, direct and fully guaranteed.
Other securities
Loans, discounts, and overdrafts
Miscellaneous assets
Total assets
469
551
274
445
120
1,859
477
574
302
440
109
1,902
524
641
330
450
115
1,960
LIABILITIES
Total deposits
Miscellaneous liabilities
Total capital account.
Total liabilities and capital account
1,485
67
307
1,859
1,535
61
306
1,902
1,582
71
307
1,960
Number of banks:
Included in above figure
Statements of assets and liabilities not available
Total operating
1,189
59
1,248
1,152
66
1,208
1,122
56
1,178
,(a) On December 31, 1935, 1 trust company not engaged in deposit banking, 1 Deposit
Insurance
National Bank, and 1 bank not a member of the Federal Reserve System from which a report
was not
received;(b) on June 30, 1936,2 trust companies not engaged in deposit banking, and 4
not member
of the Federal Reserve System from which reports were not received or were receivedbanks
too late for compilation; (c) on December 31, 1936, 2 trust companies not engaged in deposit banking,
and 1 bank not a
member of the Federal Reserve System from which a report was not received.
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Federal Reserve Bank of St. Louis
135
ASSETS AND LIABILITIES OF OPERATING BANKS
SUMMARY OF ASSETS AND LIABILITIES OF OPERATING MUTUAL
SAVINGS BANKS IN THE UNITED STATES, DECEMBER 31, 1935,
JUNE 30, 1936, AND DECEMBER 31, 1936
Table 115.
1936
1935
Dec. 31
June 30
Dec. 31
(In millions of dollars)
All banks
ASSETS
Cash and amounts due from other banks
United States Government obligations, direct and fully guaranteed
Other securities
Loans, discounts, and overdrafts
Miscellaneous assets
Total assets
552
1,684
2,920
5,127
875
11,158
544
1,984
2,795
5,030
937
11,290
565
2,188
2,730
4,973
942
11,398
LIABILITIES
Total deposits
Miscellaneous liabilities
Total capital account
Total liabilities and capital account
9,880
21
1,257
11,158
9,975
23
1,292
11,290
10,061
19
1,318
11,398
566
565
563
Number of banks
Insured banks
(In millions of dollars)
ASSETS
Cash and amounts due from other banks
United States Government obligations, direct and fully guaranteed
Other securities
Loans, discounts, and overdrafts
Miscellaneous assets
Total assets
68
179
284
489
88
1,108
70
210
271
476
95
1,122
70
237
262
469
94
1,132
LIABILITIES
Total deposits
Miscellaneous liabilities
Total capital account
Total liabilities and capital account
978
4
126
1,108
988
4
130
1,122
998
3
131
1,132
56
56
56
Number of banks
Noninsured banks
(In millions of dollars)
ASSETS
Cash and amounts due from other banks
obligations,
direct and fully guaranteed
Government
United States
Other securities.
overdrafts
and
Loans, discounts,
Miscellaneous assets
Total assets
484
1,505
2,636
4,638
787
10,050
474
1,774
2,524
4,554
842
10,168
495
1,951
2,468
4,504
848
10,266
LIABILITIES
Total deposits
Miscellaneous liabilities
Total capital account
Total liabilities and capital account
8.902
17
1,131
10,050
8,987
19
1,162
10,168
9,063
16
1,187
10,266
610
509
507
Number of banks
•
•
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
fable
116.
ASSETS AND LIABILITIES OF OPERATING INSURED COMMERCIAL BANKS,
CALL DATES, JUNE
1934
Number of banks'
Direct obligations of the United States Government:
Bonds
Treasury notes
Treasury bills
Total direct obligations of the United States Government
Obligations fully guaranteed by the United States Government:
Reconstruction Finance Corporation
Federal Farm Mortgage Corporation
Home Owners' Loan Corporation
Total obligations fully guaranteed by the U. S. Government
Other securities:
Obligations of:
Home Owners' Loan Corporation guaranteed as to interest only
Federal Land banks
Federal Intermediate Credit banks
States and their political subdivisions
Territorial and insular possessions of the United States
Railroads
Public utilities
Real estate corporations
Other domestic corporations'
Stock of Federal Reserve banks
Stock of other domestic corporations
Foreign securities-public and private
Total other securities
•
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
DECEMBER
1935
June 30
December 31
13,896
14,137
31, 1936
1936
June 29
December 31
June 30
December 31
14,175
14,123
14,059
13,970
(In thousands of dollars)
622,749
3,819,410
(2)
792,674
4,081,565
(2)
705,488
4,933,277
(2)
869,626
5,573,212
38,008
915,988
5,607,119
35,951
917,310
6,571,694
36,545
1,302,378
2,232,294
126,325
145,652
1,093,987
1,480,875
2,559,545
152,784
190,363
1,944,295
1,612,871
2,759,445
150,266
76,225
1,219,335
1,817,424
3,033,305
160,645
54,889
2,304,017
1,869,377
3,201,486
159,674
65,409
2,194,114
1,898,633
3,493,012
160,908
57,603
2,594,855
9,342,795
11,202,101
11,456,907
13,851,126
14,039,118
15,730,560
5,210,244
3,046,894
1,450,838
9,707,976
5,069,132
4,401,740
1,032,187
10,503,059
4,889,004
4,476,099
1,104,669
10,469,772
4,369,967
5,603,462
1,195,007
11,168,436
5,816,750
5,428,167
1,270,127
12,515,044
6,724,308
4,755,941
1,055,211
12,535,460
235,942
61,585
'295,997
593,524
245,462
326,788
637,585
1,209,835
246,715
447,451
1,188,051
1,882,217
243,393
563,041
1,300,419
2,106,853
238,076
575,357
1,444,000
2,257,433
212,709
568,258
1,433,126
2,214,093
136,791
177,353
119,520
2,388,770
21,916
980,743
908,600
101,533
691,339
146,553
489,402
296,093
6,458,613
10,498
205,926
134,422
2,558,536
21,507
1,025,574
975,497
97,597
711,150
146,382
501,800
295,610
6,684,498
224,116
98,702
2,633,631
24,326
1,017,472
1,090,295
97,632
745,078
130,317
486,065
293,465
6,841,099
258,191
139,687
2,758,456
19,521
1,173,943
1,176,996
91,988
853,656
130,810
510,502
297,859
7,411,609
229,903
114,260
2,734,041
22,089
1,232,832
1,287,352
89,507
932,697
130,744
505,643
278,638
7,557,706
(4)
273,466
2,256,316
23,256
915,267
902,784
106,673
703,466
145,990
535,131
334,236
6,196,585
FEDERAL DEPOSIT INSURANCE CORPORATION
ASSETS
Cash, balances with other banks, and cash items in process of collection:
Coin and currency
Reserve with Federal Reserve banks
Balances with private banks and American branches of foreign banks.
Other demand balances with banks in the United States:
In New York City
Elsewhere
Other time balances with banks in the United States
Balances with banks in foreign countries
Cash items in process of collection
Total cash, balances with other banks, and cash items in process of
collection
30, 1934, TO
•
•
•
LIST OF INSURED BANKS FOR WHICH ASSETS AND
LIABILITIES ARE NOT GIVEN IN TABLE 114
•
FOOTNOTE 1
(a), (b) and (c).
Two trust companies not engaged in deposit banking:
Pennsylvania:
Chester
Pennsylvania:
Scranton
(a)
Scranton-Lackawanna Trust Company (June and
December, 1936)
One Deposit Insurance National Bank:
Pennsylvania:
(a)
Delaware County Trust Co;apany (Dec. 31, 1965,
June 30 and Dec. 31, 1936)
Bradford
Deposit Insurance Natimal Bank of Bradford
One bank from which a report was not received Dec. 31, 1935:
hawaii:
American Security Bank
Honolulu
(b) Four banks from which reports were not received or were received too late
for compilation, June 30, 1936:
•
(c)
Missouri: Malden
Tennessee: Friendsville
Texas: Orange Grove
Texas: Timpson
One bank from which a report was not received, Dec. 31, 1936:
Mississippi:
•
Malden State Bank
The Peoples Bank
Farmers State Bank
Guaranty Bond State Bank
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Manter
Bank of Manter
•
LIST OF NONINSURED BANKS FOR WHICH ASSETS AND LIABILITIES
ARE NOT GIVEN IN TABLE 114
Location and name
Georgia:
GlIpia:
Alamo
J. F. Darby Bank
Blakely
Exchange Bank
Absorbed by First Na ional Bank 1-1-36
Georgia: Bynumkrille
J. S. & S. B. Bynum, Bankers
Voluntary liquidation 1-25-36
Georgia: Colbert
Beacham Banking Company
Georgia: Colquitt
Bailey Banking Company
Changed location from Damascus 3-10-36
Georgia: Concord
J. F. v.adden & Sons
Voluntary liLuidation 2-3-36
Georgia: Cuthbert
Davis hxcnange Bank
Georgia: Doerun
Citizens Service Bank
Midville Banking Company
Georgia: Midville
Changed title to The Peoples Bank 10-6-36
Georgia: Mitcnell
J. C. Kelly's Sons Bank
Voluntary liquidation 3-1-36
GTimija: Parrott
Pierce Exchange Bank
Preston
Bulloch Exchange Bank
Georgia: Senoia
hedwine Bros., Bankers
Georgia: Willacoochee
Perry & Williams Bank
New bank ,:ithout predecessor
Georgia: Winder
Perry Banking Company
Iowa: Bloomfield
Exchange Bank
Iowa: Imogene
Bank of Imogene
IOWEI: Kingsley
Oltman & Phelps Bank
Iowa: Lanyon
Bank of Lanyon
Iolim Lone Rock
Lone Rock Bank
Mr New market
Peoples Bank
4ichigan: Alden
Farmers & Merchants Bank
Aichigan: Bath
Peoples Bank
Michigan: Caseville
R. L. Hubbard & Company
Michigan: Clayton
Exchange Bank of A. W. Cooke
Michigan: Falmouth
Falmouth Bank
;qichigan: Glennie
Glennie Bank of McNichol
Michigan: Goodrich
Bank of Goodrich
vlichigan: Lawton
Juan McKeyes & Co., Bankers
Michigan: Owendale
Owendale Bank of A. L. Wright
Pickford
Bank of Pickford
!All,gan: Rhodes
Rhodes Bank of W. S. Vary
"ichigan: Sanford
Bank of Sanford of C. h. Macomber
Michigan: Tower
Peoples Bank of N. D. Myers
Michigan: Winn
Winn Banking Company
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Statements not availikle
12-31-35 6-0-66 12-31-36
X
X
X
X
X
X
2
Location and name
4Ik
nsylvania:
Pennsylvania:
Pennsylvania:
Pennsylvania:
Abler
Girard
Leechburg
41inersville
sylvania: Philadelphia
Pennsylvania: Philadelphia
Pennsylvania: Philadelphia
Pennsylvania: Philadelphia
Pennsylvania: Pine Brove
Pennsylvania: Republic
Texaa: Bradshqw
Texas: Chico
Texas: Chilton
Texas: Dalby Springs
Texas: Galveston
Texas: Gordon
Texas: hitchcock
Texas: Joshua
Texas: Leander
s: Leroy
as: San Antonio
Texas: San Antohio
Texas: Sugarland
Texas: Zapata
Texas: Brownsville
it
StatelLents not available
12-31-35 6-30-36 12-31-35
First Italian Bank
Ft. S. Battles Bank
Anthony Favero
Banca Italiana
Michael Barauch
Brown Bros. Harriman & Company*
Drexel & Company
E. J. Moore & Co.
U.S. Savings & Beneficial Ass'n.
Pine Grove Bank
First Foreign Exchange Bank
Bank of Bradshaw
First Bank of Chico
Chilton Citizens Bank
Dalby Springs Exchange Bank
W. L. Moody & Company
Gordon Banking & Mercantile Co.
H. L. Roberts & Co.
Citizens Banking Co.
Poole-Sherman Co.
Leroy Bank
American Savings Bank
D. & A. Oppenheimer
Imperial Bank & Trust Company
Bank of 'Zapata
D. Yturria
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
/Ilk hese banks were deducted from number of noninsured banks, but in error were not excluded from those banks for which asset and liability items were not available.
•
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
•
•
•
9. Bank suspensions
a.
b.
•
•
•
9
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Table 143-145
A-hist to support iable 143: NumbLr and deposits
of noninsured banks which suspended during
1934-36
o
•
I et.:5
SUSPENSIONS, RECEIVERSHIPS AND MERGERS
Table VA. NUMBER AND DEPOSITS OF BANKS SUSPENDING OPERATIONS, 1934-1936
GROUPED BY YEAR, BY CLASS OF BANK, BY AMOUNT OF DEPOSITS, AND BY STATES
Number
Deposits.
Total
Members F. R.
System
National
United States-total
135
State
Not
members
F. R.
System
nsured banks
Total
National
t Noninsured
banks
(1)
Not
members
' F. R.
System
Members F. It.
System
Total
State
76
6
70
59
58,095
21,671
5,810
15,861
36,424
1
4
1
8
322
40
48
8
3
36,937
9,852
11,306
1,952
9,005
10,714
40
5,263
507
1,912
33,742
10,207
34,985
847
592
23
16
14
3,183
6,330
7,673
1,852
3,989
2,660
40
194
574
'1,812
1,331
2,341
5,013
4,310
6,107
14,376
3,568
5,107
4,495
4,495
Calendar Year
1934
1935
1936
57 .
34
44
9
26
41
Banks with deposits of-'
$100,000 and under
$100,000 to $250,000
$260,000 to $500,000
67
40
22
34
24
8
1
1
2
333
23
6
$600,000 to $1,000,000
$1,000,000 to $2,000,000
$2,000,000 to $6,000,000
6
4
4
6
4
1
1
4
4
1
$5,000,000 to $10,000,000
$10,000,000 to $60,000,000
Over $50,000,000
2
3,796
2,086
607
...
3,061
5,107
742
9,881
2
17,116
1
84
1,050
521
377
4,204
1,050
487
236
2,218
1,050
487
236
2,218
155
468
224
1,406
107
224
1,406
69
155
238
224
1.406
59
17,116
State
California
Connecticut
Georgia
Illinois
ndiana
1
1
5'
3
22
4
1
8
8
*Iowa
Kansas
Kentucky
Louisiana
Michigan..
1
6
4
2
2
1
3
4
2
1
4 .....
2
1
Minnesota
Mississippi
Missouri
Montana
Nebraska
1
2
26
1
4
1
2
15
1
1
11
2
1
5
104
3
2
8
1
ennsylvania
outh Carolina
South Dakota
Tennessee
Texas
3
2
3
4
6
2
1
8
4
5
1
Virginia
Wisconsin
3
1
1
New Jersey
New York
North Dakota
Ohio
Oklahoma
Ilk
4
1
2
14
1
3
1
2
15
1
1
1
11
3
8
2
8
3
1
2
4
5
2
4
6
73
153
3,744
40
469
23,883 ii
7,059
461
2,858
672
84
73 '
153 I
1,917
40
194
1,769
34
141
1,986
230
48
153
1,917
1,827
40
194
275
1,769
46
2,136
561
5,557
136
641
154
556
4,495
780
2,071
313
1,352
318
22,114
-17,059
46
1,875
3561
261
5,667
805
641
164
984
607
1,062
136
184
164
666
428
1,352
467
719
' Deposits of insured banks as of date of suspension; deposits of noninsured banks as of latest report date prior to date of suspension.
Figures for noninsured banks operating under restrictions which were placed in receivership or liquidation are not included.
3 Includes 1 bank with deposits of $86,000 which was reopened as an insured hank.
•
FEDERAL DEPOSIT INSURANCE CORPORATION
Total
Noninsured
banks
()
3
`SMOISM1dS1,18
Insured banks
I
Table!
-5,42. NUMBER AND DEPOSITS OF BANKS SUSPENDING OPERATIONS, 1936
GROUPED BY CLASS OF BANK, BY AMOUNT OF DEPOSITS, AND BY STATES
Number
Deposits (in thousands of dollars),
Insured banks
Members F. R.
System
-National
State
Total
Total
United States-total
$600,000 to $1,000,000
$1,000,000 to $2,000,000
,000,000 to $5,000,000
44
41
21
11
6
20
10
1
5
8
3
1
40
Noninsured
banks
()
3
Total
I
Total
Members F. R.
System
National
3
11,306
10,714
State
Not
members
F. R
System
507
Noninsured
banks
)
(1
10,207
20
10
1,091
1,677
2,213
1,042
1,562
1,785 I
2
3
2,280
4,045
2,280
4,045
1,060
2,149
155
170
128
1 ,050
2,149 1
165
55
126
1,050
2,149
155
55
128
1,406
158
1,517
1,120
46
1,406
153
1,498
1,120
46
1,406 1
163
1,498
1,120
46
1,875
641
154
712
1,875
611
154
284
1,042 4.
1,562
1,785
507
...
592
DEPOSIT INSURANCE CORPORATION
Banks with deposits of-'
$100,000 and under
$100,000 to $250,000
$250,000 to $500,000
Insured banks
Not
members
F. R.
System
49
115
428
1,773
4,045
0
,000,000 to $10,000,000
$10,000,000 to $50,000,000
Over $50,000,000.
State
Connecticut
Indiana.
Iowa
Kansas
Kentucky
s
isiana
issippi
.ssouri
New Jersey
North Dakota.
oF
Ohio
South Dakota
Tennessee
Texas
1
7
1
2
2
2
2
14
1
4
3
7
7
1
1
2
2
2 '
13
1
1
S
4
2
2
2
13
1
1
2
4
2
1
507
Deposits of insured banks as of date of suspension; deposits of noninsured bankefts of latest report date prior to date of suspension.
2 Figuree-f6r 4
.3 noninsured banks with deposits of
operating under restrictions which were placed in receivership or liquidation are riot included.
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
1,145
134
154
284
115
49
.
428
•
,.
IC/ /7,3‘
A...---2A--
I
•
•
-
•
•
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
@FedFRASER