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/^FEDERAL RESERVE BANK OF ATLANTA

/

SIXTY-THIRD ANNUAL STATEMENT

February 1,1978

To All Member Banks in the
Sixth Federal Reserve District:
Presented in this report are a comparative statement of condition of
this bank as of the last business day of 1976 and 1977, and a comparative
statement of earnings and expenses for 1976 and 1977.
Also presented are current lists of our directors and senior officers.

Monroe Kimbrel
President

Federal Reserve Bank of Atlanta
Federal Reserve Station
Atlanta, Georgia 30303
Address Correction Requested




BU LK R A TE
U.S. POSTAGE
PAID
Atlanta, Georgia
Fftrmtt No* 292

STATEMENT OF CONDITION
December 31.1976

ASSETS

December 30.1977

599,154,900

S 559,964,500

SPECIAL DRAWING RIGHTS CERTIFICATE ACCOUNT . . . . . .

62,000,000

64,000,000

F.R. NOTES OF OTHER F.R. BANKS......................................

284,851,371

OTHER CASH ...........................................................................

39,208,363

GOLD CERTIFICATE ACCOUNT.............................................. $

27,633,982

COIN .........................................................................................
LOANS AND SECURITIES:
Total Loans ...............................................
Total Securities...........................................

2,800,000

6,700,000

5,359,813,000

5377,204,000

Total Loans and Securities.........................................

5,362,613,000

5383,904,000

CASH ITEMS IN PROCESS OF COLLECTION...........................

976,186,267

1,126339,737

BANK PREMISES (NET)............................................................

13,752,219

14,226,018

OTHER ASSETS..........................................................................

122,193,504*

ISI.136,9992

TOTAL ASSETS........................................................ S 7,459.959,624

S 7327,705336

LIABILITIES
FEDERAL RESERVE NOTES (NET) .........................................$3,889,449,144

S 3,668,774354

DEPOSITS:
1,951,997,462

Member Bank —Reserve Accounts ..............

1,800,764,803

Due to Other FR Banks-Collected Funds___

107,095,343

0

U.S. Treasurer-General Account ..................

571,639,373

510,983,742

Foreign.........................................................

18,148,900

20,953,200

Other ...........................................................

59358,657

76,772328

Total Deposits ..........................................................

2,557,007j076

2360,706,932

DEFERRED AVAILABILITY CASH ITEMS...............................

588,472,274

601,487,002

OTHER LIABILITIES ................................................................

54,641,414

64,452363

INTERDISTRICT SETTLEMENT ACCOUNT.............................

220.276.316

277J064.785

TOTAL LIABILITIES...............................................$ 7,309,846,224

S 7,172,486,136

CAPITAL ACCOUNTS
CAPITAL PAID IN

.............................................................. S

75,056,700

SURPLUS ...........

..............................................................

75J056.700

TOTAL CAPITAL ACCOUNTS.................................

$

$

77,609350
77,609350

150,113.400

155319.100

TOTAL LIABILITIES AND CAPITAL ACCOUNTS .. S 7,459359,624

S 7327,705336

1Coin reported as part o f Other Cash in 1976.
2Operating Equipment (Net) included as part o f Other Assets.
3FR Notes o f Other Banks and Other Cash reported in Federal Reserve Notes (Net) total in 1977.




EARNINGS AND EXPENSES

1977

1976
Total Current Earnings.............................................. $343,049,987
Net Expenses .............................................................

58,724,443

Current Net Earnings

$284,325,544

$344,873,482
55.234.375
$289,639,107

Additions to Current Net Earnings:
Profit on Sales of U.S. Government
Securities (Net) .................................................

1,749,001

Profit on Foreign Exchange
Transactions (Net).............................................

—

All Other.................................................................

252.395

Total Additions......................................................

2,001,396

895.543
895,543

Deductions from Current Net Earnings:
Loss on Sales of U.S. Government
Securities (Net) .................................................

—

Loss on Foreign Exchange Transactions (Net)....

1,930,706

11,125,210

All Other.................................................................

39.514

56.562

Total Deductions....................................................

2,435,910

1,970,220

Net Additions (+) Deductions (—) ..........................

+31,176

Assessment for Expenses of Board of Governors ..._______—
Net Earnings Before Payment to U.S. Treasury......

$284,356.720

13,617,682
-12,722,139
3,624,700*
$273.292.268

DISTRIBUTIONS OF NET EARNINGS
4,431,159

$ 4,604,434

Payments to U.S. Treasury (Interest on
F.R. Notes) ............................................................. 276,639,561

266,134,984

Dividends Paid............................................................ $

Transferred to Surplus Account
Net Additions (+) Deductions ( - ) ........................

+3.286.000

Total Earnings Distributed.........................................

5284^356^20

+2.552.850
$273.292.268

SURPLUS ACCOUNT
Surplus January 1 ...................................................... $ 71,770,700
Transferred to Surplus - As Above.........................
Surplus December 3 1 ..................................................
* Not separately reported in 1976.




3.286,000
$ 75.056.700

$ 75,056,700
2.552.850
$77.609.550

SENIOR OFFICERS and DIRECTORS
as of January 1978
ATLANTA OFFICE
Monroe Kimbrel, President

Kyle K. Fossum, First Vice President

Arthur H. Kantner, Senior Vice President

Clifford M. Kirtland, Jr., (Chairman), President, Cox Broadcasting Corporation, Atlanta, Georgia
Fred Adams, Jr., President, Cal-Maine Foods, Inc., Jackson, Mississippi
Jean McArthur Davis, President, McArthur Dairy, Inc., Miami, Florida
Ulysses V. Coodwyn, Executive Vice President, Southern Natural Resources, Inc., Birmingham, Alabama
George W. Jenkins, Chairman, Publix Super Markets, Inc., Lakeland, Florida
John T. Oliver, Jr., President, First National Bank, Jasper, Alabama
Hugh M. Willson, President, Citizens National Bank, Athens, Tennessee
Sam I. Yarnell, Chairman, American National Bank & Trust Company, Chattanooga, Tennessee
FEDERAL ADVISORY COUNCIL MEMBER
Frank A. Plummer, Chairman of the Board, First Alabama Bank of Montgomery, N. A., Montgomery, Alabama
BIRMINGHAM BRANCH - Hiram J. Honea, Vice President
Harold B. Blach, Jr., (Chairman), President, Blach’s, Inc., Birmingham, Alabama
Drury Flowers, President, First Alabama Bank of Dothan, Dothan, Alabama
William H. Martin, HI, President and Chief Executive Officer, Martin Industries, Inc., Florence, Alabama
Frank P. Samford, Jr., Chairman of the Board, Liberty National Life Insurance Company, Birmingham, Alabama
George S. Shirley, President, First National Bank of Tuskaloosa, Tuscaloosa, Alabama
M
artha H. Simms, Huntsville, Alabama
Robert H. Woodrow, Jr., Vice Chairman, Board of Directors, Alabama Bancorporation, Birmingham, Alabama
JACKSONVILLE BRANCH - E. C Rainey, Senior Vice President
Jam E. Lyons (Chairman), President, Lyons Industrial Corporation, Winter Haven, Florida
es
William E. Arnold, Jr., President, William E. Arnold Company, Jacksonville, Florida
DuBose Ausley, President and Chief Executive Officer, Capital City First National Bank, Tallahassee, Florida
John T. Cannon, III, President, Barnett Bank of Cocoa, N. A., Cocoa, Florida
Richard E. Ehlis, President, Florida National Bank at Lakeland, Lakeland, Florida
Copeland D. Newbern, Chairman of the Board, Newbern Groves, Inc., Tampa, Florida
Joan Stein, Partner, Regency Square Shopping Center, Jacksonville, Florida
MIAMI BRANCH - Frank Craven, Vice President
Alvaro Luis Carta (Chairman), President, Gulf + Western Americas Corporation, Vero Beach, Florida
Jane C. Cousins, Realtor, Cousins Associates, Coral Gables, Florida
Castle W. Jordan, President, Aegis Corporation, Coral Gables, Florida
Fred R. Millsaps, Chairman and President, Landmark Banking Corporation of Florida, Fort Lauderdale, Florida
David G. Robinson, President, Edison Community College, Fort Myers, Florida
Aristides Sastre, President, Republic National Bank, Miami, Florida
Sherrill E. Woods, President, First National Bank and Trust Company of Naples, Naples, Florida
NASHVILLE BRANCH - Jeffrey J. Wells, Vice President
John C. Bolinger, Jr., (Chairman), Management Consultant, Knoxville, Tennessee
Cecelia Adkins, Executive Director, Sunday School Publishing Board, Nashville, Tennessee
John W. Andersen, President and Chief Executive Officer, First National Bank of Sullivan County, Kingsport, Tennessee
Jam R. Austin, Chairman, Peoples National Bank, Shelbyville, Tennessee
es
Robert C. H. Mathews, Jr., President, R. C. Mathews Contractors, Inc., Nashville, Tennessee
Virgil H. Moore, Jr., President, First Farmers and Merchants National Bank, Columbia, Tennessee
Frank C. Thomas, Executive Vice President, Blue Diamond Coal Company, Knoxville, Tennessee
NEW ORLEANS BRANCH * Jack Guynn, Vice President
Edwin J. Caplan (Chairman), President, Caplan’s Men’s Shops, Inc., Alexandria, Louisiana
George C. Cortright, Jr., Partner, George C. Cortright Company, Rolling Fork, Mississippi
George P. Hopkins, Jr., President, George P. Hopkins, Inc., Gulfport, Mississippi
W. E. Howard, Jr., Chairman, Commercial National Bank and Trust Company, Laurel, Mississippi
Martin C. Miler, Chairman of the Board and President, The Hibernia National Bank, New Orleans, Louisiana
Wilmore W. Whitmore, President and Chief Executive Officer, First National Bank of Houma, Houma, Louisiana

*Npte: As this statement went to press, vacancies existed on the Boards o f the Atlanta and New Orleans offices.




Federal Reserve Bank of St. Louis, One Federal Reserve Bank Plaza, St. Louis, MO 63102