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ANNUAL REPORT
OF THE

FEDERAL DEPOSIT INSURANCE CORPORATION




FOR THE YEAR ENDING
DECEMBER 31, 1937




LETTER OF TRANSMITTAL

F e d e r a l D ep o sit I n su r a n c e C o r p o r a t io n ,

Washington, D. C., May 17,19S8.
SIR: Pursuant to the provisions of subsection (r) of section
12B of the Federal Reserve Act, as amended, the Federal Deposit
Insurance Corporation has the honor to submit its annual report.
Respectfully,
L e o T . C r o w le y ,
T he P resident
T h e Sp e a k e r

of the

o p th e




S enate

H ou se

op

R e p r e s e n t a t iv e s

Chairman.




CONTENTS
I n tr o d u c tio n a n d S u m m a r y .................................

Page
3

P A R T ONE
O P E R A T IO N S AN D P O LIC IE S O F TH E C O R P O R A T IO N
Operations

and

P olicies

op the

C o rporation .....................................

9

I nsolvent I nsured B anks C losed .........................................................................
Insolvent banks suspended...............................................................................
Deposits paid b y the Corporation..................................................................
Insolvent banks absorbed with aid of loans or purchase of assets b y the
Federal Deposit Insurance Corporation...................................................
Other mergers and liquidations of banks in a weakened p osition .........

9
9
10
10
12

R epayments to the C orporation ..........................................................................
Recoveries from banks in receivership..........................................................
Recoveries on loans and assets purchased....................................................

12
12
13

M aintenance of a Sound B anking Structure ..............................................
Bank examinations..............................................................................................
P olicv of the Corporation regarding capital of banks................................
Quality of assets..................................................................................................
Policy regarding bank loans.............................................................................
Policy regarding securities.................................................................................
Holding company banking................................................................................

13
14
15
16
16
16
17

U nsafe and U nsound B anking P ractices .........................................................
Action on unsafe and unsound practices and violations of law or
regulations........................................................................................................
Character of unsafe and unsound practices and violations of law or
regulations leading to Corporation action................................................

17
17
19

Other A ctions of the C orporation .....................................................................
Admissions to and terminations of insurance...............................................
Establishment of branches or additional offices..........................................
Size of centers in which the establishment of additional banking offices
was approved b y tfie C orporation..............................................................
Changes in capital of banks.............................................................................
Release of restricted deposits...........................................................................
Assumption of deposits in noninsured banks...............................................
Changes in location of insured banks............................................................

20
20
21

R eports from B a n k s ..................................................................................................
Reports of assets and liabilities and of earnings.........................................

23
23

R egulations

23

and

R ulings

of the

C orporation . . .

21
22
22
23
23

L egislation A ffecting D eposit I nsurance .......................................................
Federal legislation...............................................................................................
State legislation....................................................................................................

24
24
24

Organization and St a f f ............................................................................................
D irectors................................................................................................................
Personnel...................................................................................................... ........

24
24
24

F inancial Statement of the C orporation .......................................................
Legal authority for disbursement of funds...................................................
Assets and liabilities and distribution of expenses......................................
Income and expenses..........................................................................................
Assessments...........................................................................................................
Income from investments..................................................................................
Operating expenses..............................................................................................
Reports to insured banks..................................................................................

24
24
25
25
28
28
28
28




V

FEDERAL DEPOSIT INSURANCE CORPORATION
PAR T TW O
D E P O S IT IN SU RA N CE AN D B A N K IN G D EVE LO PM EN TS
Page
Summary

op

B anking D evelopm ents ..............

31

C ommercial B anking Of f ic e s .................................................................................
Number and types of commercial banking offices in operation..............
Changes in operating commercial banking offices during 1937...............

31
31
32

P articipation b y C ommercial B anks in D eposit I nsu ran ce ...................
Number of operating insured and noninsured commercial banks and
banking offices.................................................................................................
Admissions to and terminations of insurance..............................................
Deposits of operating commercial banks.......................................................

32
32
33
34

A ssets and L iabilities of Operating C ommercial B a n k s ..........................
Assets and liabilities of insured commercial banks at the beginning
and close of the y ea r......................................................................................
Bank capital and the expansion of loans......................................................
Assets and liabilities of all commercial banks, 1920, 1929, and 1937___

35
35
35
37

A ppraisal of A ssets of I nsured C ommercial B anks not M embers of
the F ederal R eserve Sy s t e m ...........................................................................
Total assets...........................................................................................................
Securities...............................................................................................................
L oan s......................................................................................................................
Criticized loans of all insured commercial banks........................................

38
38
40
41
42

C apital of Operating I nsured C ommercial B a n k s ......................................
42
Capital rehabilitation of all insured commercial banks............................
43
Capital rehabilitation of insured commercial banks not members of the
Federal Reserve System ................................................................................
43
Q uality of M anagement of O perating I nsured C ommercial B anks not
M embers of the F ederal R eserve Syst e m .................................................

46

E arnings of O perating I nsured C ommercial B a n k s ...................................
N et current operating earnings of all insured commercial banks...........
Net profits of all insured commercial banks................................................
N et current operating earnings of insured commercial banks not
members of the Federal Reserve System ..................................................
Net profits of insured commercial banks not members of the Federal
Reserve System...............................................................................................
D ividends..............................................................................................................
Interest received and paid................................................................................

48
48
49

I nsured M utual Savings B a n k s ...........................................................................
Assets and capital of insured mutual savings banks..................................
Earnings, expenses, and disposition of profits of insured mutual savings
banks..................................................................................................................

53
53

50
51
52
52

54

P A R T TH RE E
RE SEA RCH R E P O R T S
N o t e ___

P A R T FO U R
L E G IS L A T IO N , R E G U L A T IO N S, AN D IN S T R U C T IO N S
L egislation ...................................................................................................

61

R egulations

61




and

R ulings

of the

C orporation ..............

vii

LIST OF TABLES

PART FIVE
STATISTICS OF BANKS AND DEPOSIT INSURANCE
Page
E xplanatory

......

op banking offices ...............................................................

N umber
D eposits
A ssets

n o te ..............................

of banking offices .............................................................................

and liabilities of operating b a n k s ...................................................

65
68
96
106

C a p ita l in vestm en t o f t h e R e c o n s tr u c tio n F in an ce C o r p o r a tio n . .

122

E xam in ers' a n a ly s is

124

of

in su re d b a n k s ......

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

E a rn in g s o f in su re d com m ercial b a n k s ___

141

Suspensions ,

164

receiverships , and m e rgers .

.

LIST OF TABLES
PART ONE
OPERATIONS AND POLICIES OF THE CORPORATION
I nsolvent I nsured B anks C losed :

1.

Deposits of insured banks placed in receivership as of December
31, 1937.......................................................................................

R epayments

2.
U nsafe

4.

6.
7.

of the

and

10.

19

20
21
22

St a ff :

Officers and employees of the Federal Deposit Insurance Cor­
poration, December 31,1937......................................................

F inancial Statement

9.

18

C orporation :

Applications for admission to insurance acted upon by the Federal
Deposit Insurance Corporation during 1937..............................
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.................
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.................

Organization

8.

13

U nsound B anking P ractices :

Disposition during 1937 of cases of insured banks cited to super­
visory authorities for unsafe and unsound banking practices or
violations of law or regulations..................................................
Unsafe and unsound banking practices and violations of law and
regulations for which 25 insured banks were cited to supervisory
authorities during 1937...............................................................

O ther A ctions

5.

C orporation :

Payment of dividends on common claims of depositors by insured
banks placed in receivership through December 31, 1937........

and

3.

to the

11

of the

C orporation :

Comparative balance sheet of the Federal Deposit Insurance
Corporation, December 31, 1937, and December 31, 1936.......
Analysis of surplus account and distribution of administrative
expenses, Federal Deposit Insurance Corporation, calendar
year 1937............................... .....................................................




25

26
27

v iii

FEDERAL DEPOSIT INSURANCE CORPORATION

PART TWO
DEPOSIT INSURANCE AND BANKING DEVELOPMENTS
Page
C ommercial B anking O ffices :

11.

Number and type of operating commercial banking offices in the
United States and possessions, December 31, 1936, and De­
cember 31, 1937..........................................................................
Analysis of changes in number of offices of operating commercial
banks in the United States and possessions during 1937.........

12.

P articipation

13.
14.
15.
A ssets

and

16.
17.

18.

by

C ommercial B anks

in

of

20.
21.
22.
23.
24.
25.
26.
C apital

of

27.
28.




33
33
34

Operating C ommercial B a n k s :

Changes in assets and liabilities during 1937, operating insured
commercial banks.......................................................................
Percentage change in principal classes of assets, December 31,
1936, to December 31, 1937, operating insured commercial
banks not members of the Federal Reserve System, grouped
according to ratio of total capital account to total assets........
Percentage distribution of assets and liabilities, 1920, 1929, and
1937, all operating commercial banks in the United States and
possessions..................................................................................

A ppraisal of A ssets of I nsured C ommercial B anks
the F ederal R eserve System :

19.

32

D eposit I nsurance :

Number of operating insured and noninsured commercial banking
offices in the United States and possessions, December 31,1936,
and December 31, 1937..............................................................
Admissions to and terminations of insurance during 1937...........
Changes in deposits during 1937, operating insured and noninsured
commercial banks.......................................................................
L iabilities

31

not

M embers

35

36
37

of

Appraised value of assets as percent of book value, examination
in 1937, operating insured commercial banks not members of
the Federal Reserve System.......................................................
Distribution of operating insured commercial banks not members
of the Federal Reserve System according to percent of fixed and
substandard assets, examination in 1937...................................
Appraised value of total assets as percent of book value, examina­
tions 1933-1937, operating insured commercial banks not
members of the Federal Reserve System...................................
Book value of securities, examination in 1937, operating insured
commercial banks not members of the Federal Reserve System
Distribution of operating insured commercial banks not members
of the Federal Reserve System according to percent of sub­
standard securities, examination in 1937...............................
Book and market value of securities, examination in 1937, op­
erating insured commercial banks not members of the Federal
Reserve System..........................................................................
Appraised value of loans as percent of book value, examinations
1934-1937, operating insured commercial banks not members of
the Federal Reserve System......................................................
Criticized loans, examination in 1937, operating insured com­
mercial banks, by class of bank................................................

38
39
39
40
40
41
41
42

Operating I nsured C ommercial B a n k s :

Analysis of changes in total capital account during 1937, operating
insured commercial banks..........................................................
Net capital account per $100 of total deposits and of total capital
account, examination for admission to insurance in 1933 and
early 1934 and examination in 1937, operating insured com­
mercial banks not members of the Federal Reserve System,
grouped by amount of deposits..................................................

43

45

LIST OF TABLES

ix

Page
29.

Percentage distribution of number of banks according to net
capital account as percent of deposits, examinations 1933-1937,
operating insured commercial banks not members of the Federal
Reserve System..........................................................................

Qu ality op M anagement of Operating I nsured C ommercial B anks
M embers op the F ederal R eserve System :

30.

E arnings

not

Distribution of number and deposits of banks according to quality
of management, examination in 1937, operating insured
commercial banks not members of the Federal Reserve System.
Percentage distribution of number of banks according to quality
of management, examination in 1937, operating insured com­
mercial banks not members of the Federal Reserve System,
grouped by amount of deposits..................................................

31.

op

32.

34.

35.

36.
37.

46

47

O perating I nsured C ommercial B a n k s :

Earnings, expenses, and disposition of profits related to total
assets and to total capital account, 1936 and 1937, operating
insured commercial banks..........................................................
Earnings, expenses, and disposition of profits of operating insured
commercial banks, 1934-1937.....................................................
Percentage distribution of number and deposits of banks according
to rate of net earnings, 1936 and 1937, insured commercial
banks not members of the Federal Reserve System operating
throughout entire year...............................................................
Earnings, expenses, and disposition of profits related to total
assets and to total capital account, 1937, insured commercial
banks not members of the Federal Reserve System operating
throughout entire year...............................................................
Distribution of number of banks according to rate of net profits,
1936 and 1937, insured commercial banks not members of the
Federal Reserve System operating throughout entire year----Interest received on loans and on securities and interest paid on
time deposits, 1934-1937, insured commercial banks not mem­
bers of the Federal Reserve System operating throughout
entire year....................................................................................

33.

46

48
49

50

51
52

53

PART FIVE
STATISTICS OF BANKS AND DEPOSIT INSURANCE
N umber

op

B anking Offices :

101.

Number and classification of operating banking offices, December
31, 1935, December 31, 1936, and December 31, 1937.............
102. Analysis of changes in number and classification of banks and
banking offices in the United States and possessions during 1937
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.................................
104. Number of operating banking offices, December 31, 1937, insured
and noninsured offices grouped by class of bank, type of office,
and amount of deposits..............................................................
105. Number of operating banks, December 31, 1937, insured and
noninsured banks grouped by class of bank, type of bank, and
amount of deposits.....................................................................
106. Number of operating commercial banks, December 31, 1937,
insured and noninsured banks grouped by amount of deposits
in each State and in the possessions..........................................
107. Number of operating mutual savings banks, December 31, 1937,
insured and noninsured banks grouped by amount of deposits
in each State...............................................................................
108. Number of commercial banks operating branches and number of
branches in Continental United States, December 31, 1937,
grouped according to character of branch system, location of
branches, population of center in which located, and by State..




68
70
73
80
82
84
88

90

FEDERAL DEPOSIT INSURANCE CORPORATION

109.

Number of operating banking offices of insured commercial banks,
December 31, 1937, grouped by amount of deposits, type of
office, and population of center in which located.....................
Number of operating banking offices of insured commercial banks,
December 31,1937, grouped according to number of commercial
banking offices in center in which located, type of office, and
population of center in which located........................................

110.

D eposits

op

111.
112.
113.
114.

A ssets

116.
117.
118.
119.

120.
121.

L iabilities

123.

125.

126.




94

96
98
100
104

Operating B a n k s :

106
107
108
112

Assets and liabilities of operating insured commercial banks not

members of the Federal Reserve System, December 31, 1937,
banks grouped by amount of deposits.......................................
Averages per bank of assets and liabilities of operating insured
commercial banks not members of the Federal Reserve System,
December 31, 1937, banks grouped by amount of deposits. . . .
Percentage distribution of assets and liabilities of operating
insured commercial banks not members of the Federal Reserve
System, December 31, 1937, banks grouped by amount of
deposits.......................................................................................
of the

of

116
118

120

R econstruction F inance C orporation :

Capital investment of the Reconstruction Finance Corporation in
operating insured commercial banks, December 31, 1937, by
class of bank in each State and possession................................
Disbursements and retirements of Reconstruction Finance
Corporation capital of operating insured commercial banks
not members of the Federal Reserve System during 1937, in
each State and possession...........................................................

E xaminers ’ A nalysis

124.

of

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..............................................
Summary of assets and liabilities of operating mutual savings
banks in the United States, December 31,1936, June 30, 1937,
and December 31, 1937..............................................................
Assets and liabilities of operating insured commercial banks, call
dates, June 30, 1934, to December 31, 1937..............................
Assets and liabilities of operating insured commercial banks not
members of the Federal Reserve System, call dates, June 30,
1934, to December 31, 1937.......................................................

C apital I nvestment

122.

92

B anking O ffices :

Average deposits of operating banks during 1937, insured and
noninsured banks grouped by class of bank, type of bank, and
amount of deposits.....................................................................
Average deposits of operating banks during 1937, insured and
noninsured banks grouped by class of bank in each State and
in the possessions........................................................................
Average deposits of operating commercial banks during 1937,
insured and noninsured banks grouped by amount of deposits in
each State and in the possessions..............................................
Average deposits of operating mutual savings banks during 1937,
insured and noninsured banks grouped by amount of deposits
in each State...............................................................................

and

115.

Page

122

123

I nsured B an k s :

Capital ratios of operating insured commercial banks not members
of the Federal Reserve System, examinations October 1, 1933,
to December 31,1937, banks grouped by amount of deposits and
by State...................................................................................... 124
Examiners’ analysis of capital and liabilities of operating insured
commercial banks not members of the Federal Reserve System,
latest examination in 1937, banks grouped by amount of
deposits and by State................................................................. 126
Examiners’ analysis of assets of operating insured commercial
banks not members of the Federal Reserve System, latest
examination in 1937, banks grouped by amount of deposits and
by State..................................................................................... 128

LIST OF TABLES

127.

128.

129.

130.

Page
Appraised value of assets as percent of book value of operating
insured commercial banks not members of the Federal Reserve
System, latest examination in 1937, banks grouped by amount
of deposits and by State............................................................. 132
Number and deposits of operating insured commercial banks not
members of the Federal Reserve System, latest examination in
1937, grouped by quality of management, net capital and
substandard asset ratios, and rate of net earnings on total
assets
136
Summary of examiners’ analysis of loans of operating insured
commercial banks not members of the Federal Reserve System,
examinations 1934-1937, banks grouped by amount of deposits
and by State............................................................................... 138
Book value of securities held b y operating insured commercial

banks not members of the Federal Reserve System, latest
examination in 1937, banks grouped by amount of deposits___
E arnings

131.
132.
133.
134.
135.

136.

137.

138.

139.

140.

141.

142.

xi

of

140

I nsured C ommercial B an k s :

Earnings, expenses, and disposition of profits of operating
insured commercial banks, calendar year 1937, by class of bank
Earnings, expenses, and disposition of profits of operating insured
commercial banks, calendar years 1934-1937............................
Ratios of earnings, expenses, and disposition of profits of operating
insured commercial banks, calendar years 1934-1937...............
Earnings, expenses, and disposition of profits of operating insured
commercial banks not members of the Federal Reserve System,
calendar years 1934-1937............................................................
Earnings, expenses, and disposition of profits of insured commer­
cial banks not members of the Federal Reserve System, calendar
year 1937, banks operating throughout entire year grouped by
amount of deposits.....................................................................
Averages per bank of earnings, expenses, and disposition of profits
of insured commercial banks not members of the Federal Re­
serve System, calendar year 1937, banks operating throughout
entire year grouped by amount of deposits...............................
Ratios of earnings, expenses, and disposition of profits of insured
commercial banks not members of the Federal Reserve System,
calendar year 1937, banks operating throughout entire year
grouped by amount of deposits..................................................
Earnings, expenses, and disposition of profits of insured commer­
cial banks not members of the Federal Reserve System, calendar
year 1937, banks operating throughout entire year grouped
according to population of center in which located....................
Ratios of earnings, expenses, and disposition of profits of insured
commercial banks not members of the Federal Reserve System,
calendar year 1937, banks operating throughout entire year
grouped according to population of center in which located. . .
Earnings, expenses, and disposition of profits of insured commer­
cial banks not members of the Federal Reserve System, calendar
year 1937, banks operating throughout entire year grouped
according to rate of net earnings on total assets.......................
Ratios of earnings, expenses, and disposition of profits of insured
commercial banks not members of the Federal Reserve System,
calendar year 1937, banks operating throughout entire year
grouped according to rate of net earnings on total assets.........
Net current operating earnings of insured commercial banks not
members of the Federal Reserve System, calendar year 1937,
number of banks operating throughout entire year grouped
according to rate of net earnings on total assets, amount of
deposits, population of center in which located, and number
of commercial banking offices in center in which located.........




141
142
143
144

146

148

150

152

154

156

158

160

FEDERAL DEPOSIT INSURANCE CORPORATION

x ii

143.

144.

145.

Net profits before dividends of insured commercial banks not
members of the Federal Reserve System, calendar year 1937,
number of banks operating throughout entire year grouped
according to rate of net profits on total assets, amount of de­
posits, population of center in which located, and number of
commercial banking offices in center in which located.............
Net current operating earnings of insured commercial banks not
members of the Federal Reserve System, calendar year 1937,
number of banks operating throughout entire year grouped
according to rate of net earnings and net profits on total assets..
Earnings, expenses, and disposition of profits of operating insured
mutual savings banks, calendar years 1935-1937......................

Suspensions , R eceiverships ,

146.
147.
148.

149.
150.
151.
152.
153.
154.

and

Page

161

162
163

M erg ers :

Number and deposits of banks suspending operations, 1934-1937,
grouped by class of bank, by year, by amount of deposits, and
by State....................................................................................... 164
Number and deposits of banks suspending operations, 1937,
grouped by class of bank, by amount of deposits, and by State.. 166
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....................................................................................... 168
Insured banks placed in receivership, 1937................................... 170
Assets of insured banks placed in receivership, 1934-1937, as
shown by books of bank at date of suspension......................... 172
Liabilities of insured banks placed in receivership, 1934-1937, as
shown by books of bank at date of suspension......................... 174
Deposits of insured banks placed in receivership, 1934-1937, as
shown by books of FDIC, December 31, 1937.......................... 176
Payments to depositors of insured banks placed in receivership,
1934-1937, as shown by books of FDIC, December 31,1937.... 178
Loans made to and assets purchased from insured banks by the
Federal Deposit Insurance Corporation, August 23, 1935, to
December 31, 1937..................................................................... 180

LIST OF CHARTS
Organization chart of the Federal Deposit Insurance Corporation.................
Capital changes, 1934-1937, operating insured commercial banks not members
of the Federal Reserve System, grouped by amount of deposits...................




8
44

INTRODUCTION AND SUMMARY







I ntroduction

and

S um m ary

The present report, the fourth Annual Report of the Federal Deposit
Insurance Corporation, deals primarily with activities of the Corporation
and with developments affecting deposit insurance during the year
ending December 31,1937.
At the close of 1937 the Corporation was insuring deposits in 13,853
banks. Daily average deposits of these banks amounted to more than
$48 billion during the year, of which more than $21 billion were insured.
The depositors in these banks numbered more than 50 million, of whom
more than 98 percent were fully protected by insurance. In 12,854
banks with deposits of not more than $5 million each, comprising 93
percent of the insured commercial banks, nearly 80 percent of the $11
billion of deposits were covered by insurance. The remaining 999 banks,
with deposits of more than $5 million each, held more than $37 billion
of deposits, of which about 33 percent were covered by insurance. Of
these large banks, 490, each with deposits of more than $10 million, held
more than two-thirds of the total deposits and about one-half of the
insured deposits.
Further improvement in the banking situation occurred during 1937
and the banks were in a position to meet without difficulty any strain
resulting from the rapid decline in business activity and national income
during the latter part of the year. The average quality of assets was
higher in 1937 than in recent previous years and the capital position of
the banks was well maintained. Earnings of the banks were greater
than in any year since Federal insurance of deposits and, according to
available data, compared favorably with earnings of other types of
business enterprise. Some individual banks, chiefly those which had
not been successfully rehabilitated after the banking crisis of 1933,
continued to be in an unsatisfactory position.
During 1937 the Corporation continued its efforts to strengthen the
banking system, improve banking practices, and clarify and develop
supervisory policies and procedure. The Corporation’s examining
policies have been framed with a view to obtaining an accurate picture
of the condition of each bank, its management, and its prospects. The
policies give due regard to the rights of all interested parties: depositors,
stockholders, and borrowers. As in earlier years the Corporation urged
the banks to make loans and purchase securities on a basis which would
enable the banks to meet the needs of the communities they serve.



3

4

FEDERAL DEPOSIT INSURANCE CORPORATION

The Corporation conducted 7,822 examinations and reviewed approxi­
mately 6,500 examinations made by other Federal agencies. Except
in the case of 31 examinations made in connection with specific matters
involving joint jurisdiction or changes in jurisdiction, the Federal
Deposit Insurance Corporation did not examine any bank examined
by any other Federal bank examining agency. Action was taken
against 39 insured banks for unsafe and unsound practices or violations
of law. Six of these banks corrected their practices, 22 suspended or
were absorbed by other banks, and 1 was dismissed from insurance.
In 10 cases further action was still pending at the close of the year.
During the year the Corporation protected the funds of 130,000
depositors in 75 insolvent banks either by paying them off or by making
loans to facilitate the absorption of the banks by sound insured banks.
Total deposits in these banks amounted to $33 million, of which 98
percent were made available promptly to depositors. From the in­
auguration of deposit insurance to the close of 1937 the accounts of
277,000 depositors in 178 insolvent banks have been protected in whole
or in part through the activities of the Corporation. Deposits in these
banks amounted to $76 million, of which 94 percent were fully protected.
Part One of the report deals with the operations and policies of the
Corporation. Policies with regard to bank examinations, bank capital,
bank loans, and other assets are discussed on pages 13 to 17. Part Two
deals with banking developments of primary interest to deposit in­
surance. An appraisal of the quality of assets of insured commercial
banks not members of the Federal Reserve System is presented on
pages 38 to 42. The capital position of the banks is analyzed on
pages 42 to 46 and their earnings record is discussed on pages 48 to
53. Detailed statistics relating to banks and to deposit insurance are
presented in Part Five.




PART ONE
OPERATIONS AND POLICIES OF THE CORPORATION







DIRECTORS

of the
FEDERAL DEPOSIT INSURANCE CORPORATION




L eo T . C r o w ley
Chairman

P h illips L e e G oldsborough

J. F . T . O ’ C onnor

Comptroller of the Currency

FEDERAL
DEPOSIT
INSURANCE
CORPORATION




FEDERAL DEPOSIT INSURANCE CORPORATION

O perations

and

P olicies

of the

C orporation

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 num­
bered 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.
I nsolvent I nsured B an ks C losed

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 pro­
tected 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.




Q

10

FEDERAL DEPOSIT INSURANCE CORPORATION

The deposits of the 50 banks placed in receivership or liquidation
during the year amounted to approximately $15 million. Depositors
in the banks numbered 73,507 of whom 73,320, or 99.7 percent, were
fully protected 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 million, of which $32 million, or 87.5 percent, were
fully protected 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 per­
cent 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 con­
sisted 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 o f loans or purchase o f
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 bank. These
powers 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


11

INSOLVENT INSURED BANKS CLOSED

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 appli­
cations 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 D ecember 31, 1937
(Amounts in thousands of dollars)
Total

Paid by
Dec. 31,
19371

Unpaid on
Dec. 31,
1937

Total—50 banks placed in receivership, 1937.................

14,508

12,622

1,886

Insured2..............................................................................
Secured, preferred, and subject to offset8..........................
Uninsured, unsecured, not preferred, and not subject to
offset...............................................................................

11,983
1,929

11,336
1,233

647
696

596

53

543

Total—75 banks placed in receivership, 1934-1936........

22,197

19,830

2,367

Insured*..............................................................................
Secured, preferred, and subject to offset8..........................
Uninsured, unsecured, not preferred, and not subject to
offset...............................................................................

15,134
3,063

14,808
2,939

326
124

4,000

2,083

1,917

includes 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
agreements. Loans amounting to approximately $7 million were
made to the 25 banks. In addition, assets amounting to approximate­
ly one-fourth million dollars were purchased from four of these banks.
Between August 23, 1935, the date of authorization of these loan
powers, and December 31, 1937, 53 banks, with accounts numbering
114,882 and total deposits amounting to $39 million, were absorbed
by other operating or new insured banks with the aid of the Corpora­
tion. In 36 cases loans were made, in 1 case assets were purchased,
and in 16 cases loans were made and assets also purchased. The



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 o f 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 Corpora­
tion or were succeeded by other member banks or were placed in
voluntary liquidation.
R epaym ents

to t h e

C o r p o r a tio n

From January 1, 1934, to December 31, 1937, the Corporation
advanced $43 million to make funds available immediately to deposi­
tors of insolvent banks. By the end of 1937, $15 million of this
amount had been repaid to the Corporation, two-thirds from re­
ceiverships 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 per­
cent, on the $26 million of depositors’ claims to which the Corporation
was subrogated in the 125 insured banks in receivership. It is es­
timated 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,



13

MAINTENANCE OP A SOUND BANKING STRUCTURE

South Dakota, and West Virginia. In addition, it was acting as
liquidating agent for one bank in Michigan which went into voluntary
liquidation.
Recoveries on loans and assets purchased. By December 31,
1937, the Corporation had recovered $5 million, or 30 percent, of the
$17 million which it had advanced as loans to insolvent insured banks
or had expended in the purchase of assets of these banks. Total
recoveries are expected to amount to $10 million, or 62 percent, of the
total expended. The assets which were acquired by purchase or
accepted as collateral for loans were unacceptable to the absorbing
bank because of their poor quality. The Corporation is able to
dispose of these assets under the most favorable circumstances and
to avoid much of the cost of receiverships. It is estimated that losses
in these banks would have been greater had the banks been placed
in receivership.
T a b le 2.

PAYMENT OP DIVIDENDS ON COMMON CLAIMS OP DEPOSITORS BY

I nsured B anks P laced

in

R eceivership

through

D ecember 31, 1937
Number of banks placed
in receivership during—
1937

1934-1936

All banks......................................................................................................

50

75

Banks paying dividends of—
100 percent.................................................................................................
75 to 99 percent..........................................................................................
50 to 74 percent..........................................................................................

0
1
5

12
16
23

25 to 49 percent..........................................................................................
1 to 24 percent...........................................................................................
0 percent.....................................................................................................

6
0
38

6
7
11

A total of $4 million had been recovered from the $10 million ex­
pended in aiding 28 banks during 1935 and 1936. Of this amount
$2 million were collected in 1935 and 1936, and slightly less than
$2 million in 1937. Of the loans made during 1937, $1 million had
been repaid by the year’s close. Four loans made by the Corporation
were repaid in full with interest.
M a in t e n a n c e

of a

S o u nd B a n k in g S tr u c t u r e

One of the most important duties of the Corporation is that of
assisting in the maintenance of a sound banking structure. The
continuous and effective operation of the banks is essential to the
proper functioning of the nation’s economy. Even with the existence
of Federal insurance of deposits, the suspension of banks in large
numbers would seriously interrupt and retard the flow of income in
the country.



14

FEDERAL DEPOSIT INSURANCE CORPORATION

Banks operate chiefly with depositors’ funds. As a consequence,
substantial risks in connection with the financing of American business
have heretofore been borne unknowingly by the public who are de­
positors of banks. For most depositors the advent of Federal insur­
ance has resulted in shifting the risk to the Federal Deposit Insurance
Corporation.
A rate of assessment of one-twelfth of 1 percent per annum on total
deposits of insured banks was established by Congress to provide funds
to meet losses resulting from insolvencies among the insured banks.
Evidence introduced at the time the legislation was under considera­
tion revealed that the rate finally established was considerably lower
than past experience indicated would be necessary. The low rate of
assessment established is considered satisfactory on the assumptions
that: (1) the banking system has been rehabilitated so that losses
will be less in the future than in the past; (2) the administration of
receiverships and liquidations of closed banks will be such that a
better recovery record will result; (3) greater stability will result from
the changes made in our financial structure; and (4) more adequate
and more unified banking supervision will reduce the number of banks
in a weak position or operating unsoundly. In order to further the
achievement of such supervision the Corporation was given the power
to examine or review examinations of all insured banks and to dismiss
from insurance any bank which continued to engage in unsafe and
unsound practices or violations of law.
The maintenance of a sound banking structure requires that,
(a) the individual banks should be adequately capitalized; (b) they
should not acquire or accumulate hazardous or substandard assets
or extend credits involving excessive or undue concentration of risks;
(c) they should be able to earn reasonable profits; and (d) their
management should be competent and responsible. Permanent
improvement in our banking system is dependent in large part upon
improved quality of the management, policies, and practices of banks.
Bank examinations. The examination of individual banks is
the Corporation’s chief instrument in ascertaining the soundness of
the banks whose deposits it insures. The quality of the bank’s
assets is evaluated and the bank’s net worth determined. The
calibre of its management is appraised. Unsafe and unsound practices
are brought to light, and, wherever possible, corrected. Information
obtained from the examination forms the basis for Corporation policy
and action.

During the year the Corporation conducted 7,822 examinations
and reviewed approximately 6,500 examinations of about 4,500
banks made by other Federal agencies. Except for 13 examinations
in connection with applications for loans from this Corporation to
facilitate mergers and 18 examinations in connection with proposed
withdrawals of banks from membership in the Federal Reserve
System, all of the examinations made by the Corporation were of
banks not members of the Federal Reserve System. These banks



MAINTENANCE OP A SOUND BANKING STRUCTURE

15

were not examined by any other Federal agency, except in a few
special cases of loans and subscriptions to capital by the Reconstruc­
tion Finance Corporation. Of the examinations made by the Corpo­
ration, 7,619 were regular examinations of insured banks and 203 were
examinations and investigations of banks applying for admission to
insurance or special examinations in connection with the establishment
or change of location of branches, unsafe and unsound practices, the
extension of loans, or other purposes.
Examinations by the Corporation are made only once each year
except in the case of banks which require special attention; 213 ad­
ditional examinations of such banks were made during 1937.
Policy o f the Corporation regarding capital o f banks. Ade­
quate capital is one of the most important requisites for the main­
tenance of a sound bank. The Corporation believes that each bank
should have a sound capital sufficient, having due regard for the
quality and the character of the assets held, to give reasonable assur­
ance of the maintenance of a margin of protection to depositors and
other creditors. A minimum of 10 percent of total liabilities and,
in addition, a sound capital sufficient to assure the proper discharge
of other responsibilities and functions of the bank is used as a working
rule in the consideration of cases coming before the Corporation for
action.

As a general rule, the Corporation will not approve retirement of
capital obligations of banks, repayment of contributions, or releases
of guarantees in those cases in which the net capital account will fail
to meet the minimum standard after completion of the action; and
will not approve the chartering of banks, the admission of banks to
insurance, or the establishment of branches by banks with a capital
account that does not measure up to the minimum.1 The Corpora­
tion’s authority, however, extends only to insured State banks not
members of the Federal Reserve System and does not apply to
national banks nor to State banks members of the Federal Reserve
System. The Corporation repeats its recommendation made last
year that an insured bank contemplating the establishment of a
branch should be required to make a showing to the Federal Deposit
Insurance Corporation satisfying reasonable minimum capital re­
quirements.
The Corporation believes that when an insured bank operates with
too small a margin of capital it is in fact being subsidized in part by
other banks through the deposit insurance plan and in part by de­
positors who are unknowingly taking an undue amount of the risks
of the enterprise, with none of the returns which normally accrue to
owners in the form of dividends and profits. The Corporation’s
general attitude regarding the question of adequate capital for banks
*Net capital account is obtained by deducting from total capital account the book value of assets
appraised by examiners as loss or doubtful and adding the determinable sound banking value of assets
not shown on the books of the banks. Net capital account also represents the excess over liabilities of
the appraised value of the bank’s assets.




16

FEDERAL DEPOSIT INSURANCE CORPORATION

is best expressed by the following quotation from its Annual Report
for the year ending December 81,1936:
“ Although a large number of factors must be taken into consideration in
determining the soundness of a bank and its risk to the Corporation it
may be said that, in general, the lower the capital ratio the greater the
risk to depositors and to the Corporation. The tendency of banks to oper­
ate with narrower capital cushions increases the risk of loss to the Corpor­
ation. The present assessment rate was established on the assumption that
losses in the future would be smaller than in the past. Unless the declin­
ing trend in the ratio of bank capital to liabilities is reversed losses may
not be reduced, in which case either the assessment rate will have to be
raised or fundamental changes will have to be effected in our system of
banking.”

Quality o f assets. The quality of the assets of a bank is of equal
importance to adequacy of capital. When a bank’s assets deteriorate
and become frozen it can no longer operate and must close its doors.
The losses which dissipate capital result primarily from assets of low
quality.

Quality is a matter of individual judgment made in the light of
detailed knowledge. The excellence of the judgments made de­
pends in the final analysis upon the calibre of the bank’s management.
There are no set rules which can be established in this regard. Certain
general principles, however, are advocated by the Corporation and
are endorsed by most bankers. A bank should maintain a balance
among different types of assets in accordance with the demands which
it may expect to meet. A bank should not purchase securities or
make loans involving excessive risk of loss. Investment in bank
premises and equipment should bear a reasonable relation to the needs
of the business. Holdings of other real estate should be kept at a
minimum and when taken over in satisfaction of a debt should be
disposed of at the earliest favorable opportunity.
Policy regarding bank loans. Examiners of the Corporation
are instructed not to criticize an individual loan on the basis of the
time of its probable repayment but solely on the basis of the probable
ability of the debtor to keep his obligation current and sound. Ex­
aminers are instructed to criticize a loan because of lack of credit
information regarding the borrower, because the loan is made for
speculative purposes involving undue risk of loss, because the loan
represents an over-extension of credit or undue concentration for the
bank in a single line, because the loan involves improper assumption
of management risks by the bank, or because the loan is illegal.
Examiners are also instructed to criticize any loan upon which a loss
appears probable and any loan in which a loss has actually been
sustained by the bank but not charged off. Instructions are given
to comment also upon an undue concentration of loans by types and
maturities tending to produce a lack of balance among the assets of
the bank.
Policy regarding securities. Individual banks should establish
investment programs which apply the principle of diversification to
the total assets of the bank rather than to the securities account alone.



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. Secur­
ities should not be purchased with the intention of selling at a profit.
Developments in the securities market during 1937 have demon­
strated the soundness of the Corporation’s opposition to trading which
was expressed in the Corporation’s Annual Report for the year ending
December 81,1936, 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 invest­
ment market without completely disrupting that market. As a conse­
quence they cannot speculate in securities without undermining the sound­
ness of the financial structure of the entire country.”

A bank which buys for investment only will have a minimum num­
ber 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 co m p a n y 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 concen­
tration of lines of credit to related interests beyond the limits con­
templated 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 im­
portant groups. Difficulties of examination and supervision multiply
with the growth of banking organizations controlled by single interests.
U n sa f e

and

U n sou n d B a n k in g P r a c tic e s

Action on unsafe and unsound practices and violations o f
law or regulations. The Federal Deposit Insurance Corporation

is authorized to terminate the insured status of any bank which con­
tinues to engage in unsafe and unsound practices or in violations of
law or regulations. The procedure followed in these cases, as specified



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 vio­
lations 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 continu­
ing, 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. D isposition D uring 1937 op C ases of I nsured B anks C ited
Supervisory A uthorities for U nsafe and U nsound B anking
P ractices or V iolations of L aw or R egulations

to

Number of
Total.....................................................................................................................................
Banks dted during 19371...................................................................................................
Banks dted during 1936, further action still pending on January 1, 19372....................
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.
3
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.



19

UNSAFE AND UNSOUND BANKING PRACTICES

Character o f unsafe and unsound practices and violations
o f 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 many such
practices or violations. Of the 25 banks cited for such practices or
violations during 1937, 22 were without sufficient net invested capital.
Most of the banks were charged with lax loan and collection policies
of various types, including excessive credit to officers or directors and
their interest and affiliations, abnormal volume of substandard loans
or securities, habitual carrying of overdrafts, and an abnormal volume
of 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
L aw an d R e g u la t io n s f o r w h ich 25 In su re d B anks w e r e C ite d t o
S u p erv isory A u th o r itie s D u r in g 1937
Number
of banks
dted
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 general records:
Inclusion of losses in bank’s assets.......

15

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 re­
payment of time deposits...............................................................................................
Holding of real estate for longer period than permitted by law (U. S. R. S. Sec. 5137)---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...............................................................................................................................
Loans on own stock............................................................................................................
Engaging in activities beyond powers granted by charter................................................




11
8
5
3
2
2
1
1
1

20

FEDERAL DEPOSIT INSURANCE CORPORATION

O ther A ctions

op the

C orporation

Admissions to and terminations o f 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.

A p p lic a tio n s f o r Adm ission t o In su ra n c e A c t e d U pon

by

th e

F e d e r a l D e p o sit In su ra n ce C o r p o r a tio n D u r in g 1937

Total

Banks
Banks
operating but opened or
not insured
opening
Jan. 1,
contemplated3
1987»

Insured banks
reorganizing
under new
charters or
withdrawing
from F. R.
System

Total applications acted upon.........................

133

37

58

38

Approved:
Insurance effective in 1937.............................
Insurance not effective in 1937......................
Approval rescinded.........................................

99
15
5

29
6

*37
6
3

33
3
2

Disapproved:
Banks continued in operation or opened
without insurance.......................................
Banks closed or plans of organization aban­
doned or delayed........................................

2

1

1

12

1

11

includes 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.
*1 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 cases.




21

OTHER ACTIONS OP THE CORPORATION

Establishment o f branches or additional offices. During
1937 the Federal Deposit Insurance Corporation approved 91 appli­
cations 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 estab­
lishment 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 appli­
cations to establish or relocate branches are given in Table 6.
T a b le 6.

APPLICATIONS TO ESTABLISH OR RELOCATE BRANCHES ACTED UPON BY
t h e F e d e r a l D e p o s it I n s u r a n c e C o r p o r a t io n
D u r in g 1937
INSURED BANKS NOT MEMBERS OF THE FEDERAL RESERVE SYSTEM

Approved
Total

Opened or
relocated
by Dec. 31,
1937

Not opened
or relocated
by Dec. 31,
1937

Dis­
approved1

Total applications..............................................

97

74

18

5

To establish additional hanking offices.............

51

38

9

4

To convert banks into branches........................

34

25

8

To continue operation or change location of
branches in operation.....................................

11

10

1

To extend full banking powers to branch
formerly operated as teller's window.............

1

1

*In addition numerous informal inquiries were submitted to agents of the Corporation.

Size o f centers in which the establishment o f 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.



22

FEDERAL DEPOSIT INSURANCE CORPORATION

Changes in capital o f 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.1 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 Recon­
struction 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.
U pon

A pplications for R etirement or R eduction of C apital A cted
F ederal D eposit I nsurance C orporation D uring 1937

b y the

INSURED BANKS NOT MEMBERS OF THE FEDERAL RESERVE SYSTEM
Number of retirements
or reductions1
Approved

Amount of retirement
or reduction

Disapproved

Approved

Disapproved

Total..............................................................

2,121

157

$18,501,327

$1,068,089

Capital obligations held by R. F. C...........

2,041

152

15,fill,892

813,989

Preferred capital obligations held by others

32

5

911,535

254,100

Common stock............................................

48

1,977,900

dum ber of banks is less than number of retirements and reductions as some banks applied to
retire more than one clas3 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 re­
duction 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 o f 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.




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 o f deposits in noninsured banks. Any assump­
tion 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 o f 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.
R epo r ts

pro m

B anks

Reports o f assets and liabilities and o f 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 instruc­
tions 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 dis­
position of profits of insured banks will be found in Part Two of this
report.
R e g u l a tio n s

and

R u lin g s

of th e

C orpo r a tio n

No regulations regarding insured banks were issued by the Corpora­
tion 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.



24

FEDERAL DEPOSIT INSURANCE CORPORATION

L egislation A ffecting D eposit I nsurance
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 Corpora­
tion to assist in the liquidation of closed banks.
O rganization

and

S taff

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 sus­
pended 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.

F in ancial S tatement

of the

C orporation

Legal authority for disbu rsem en t o f fu n d s. 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



25

FINANCIAL STATEMENT OF THE CORPORATION

executive order No. 7150, dated August 19, 1935, continued during
1937 to receive and disburse its funds in accordance with the pro­
visions of law.
Congress has imposed upon the Corporation the duty of paying as
promptly as possible the insured deposits in any insured bank which
ceases operations without having made adequate provision for the
payment of its depositors. It is impossible for the Corporation to
anticipate the demands which may be made upon it from time to time.
A simplified procedure has been worked out which has made it possible
to commence payment to insured depositors in most cases within ten
days of the beginning of the receivership. The bulk of the payments
have been made within the course of a few days. The procedure
followed adequately protects the interests of the Corporation.
Table 8.

O f f ic e r s

and

E m pl o y e e s

of

the

F ederal

D e p o sit

I nsurance

C o r p o r a t io n , D e c e m b e r 31, 1937

Clerical,
stenographic,
and
custodial
employees

859

500

359

328

108

220

9
10
121
47
79
3
14
45

5
1
18
23
39
3
6
13

4
9
103
24
40
0

District Offices.................

531

392

139

Division of Examination.

531

392

139

Total.
Washington office.
Directors and aides...........................
Office of the Secretary.......................
Administrative and Service Division.
Division of Examination...................
Division of Liquidation1....................
Division of Public Relations.............
Legal Division...................................
Division of Research and Statistics. .

8

32

Excludes 61 persons employed temporarily in connection with the liquidation of loans and of
suspended insured banks.

Assets and liabilities and distribution o f expenses. Con­
densed balance sheets of the Corporation as of December 31, 1936,
and December 31,1937, are given in Table 9. An analysis of surplus
for the year 1937 and a statement of distribution of administrative
expenses are given in Table 10.
Incom e and expenses. The total income of the Corporation
during 1937 amounted to $48.1 million, of which $38.8 million were
received from assessments on insured banks and $9.3 million from
investments. Total expenses and losses during the year amounted
to $8.3 million. Losses and expenses to the Corporation in paying
depositors of suspended banks and in aiding the merger of insolvent
banks amounted to $5.6 million and administrative expenses to
$2.7 million.



FEDERAL DEPOSIT INSURANCE CORPORATION

26

T a b le 9.

COMPARATIVE BALANCE SHEET OF THE FEDERAL DEPOSIT INSURANCE
C o r p o r a t io n , D e c e m b e r 31, 1937,

and

D e c e m b e r 31, 1936

Dec. 31, 1937

Dec. 31, 1936

$ 20,634,573.44

$ 9,089,127.20

United States Government Securities—(cost less reserve for
amortization of premiums) and accrued interest receivable.. $348,485,505.78

$332,642,349.08

ASSETS
Cash on hand and on deposit.

Assets acquired through bank suspensions and mergers:
Subrogated claims of depositors against closed insured banks... $ 16,042,560.42
Net balances of depositors in closed insured banks pending
1,579,872.94
settlement or not claimed, to be subrogated when paid—contra
Loans to merging banks to avert deposit insurance losses.........
10,700,338.81
Assets purchased from merging banks to avert deposit insurance
1,230,325.55
$ 29,553,097.72
13,399,119.88
Less: Reserve for losses.
$ 16,153,977.84

$ 10,410,968.67
1,261,435.84
6,406,006.52
1,020,740.35
$ 19,099,151.38
7,707,929.23
$ 11,391,222.15

Furniture, fixtures and equipment.............

$

1.00

$

1.00

Deferred charges and miscellaneous assets.

$

66,088.80

$

48,905.91

Total assets. . .

$385,340,146.86

$353,171,605.34

LIABILITIES
Current liabilities:
Accounts and assessment rebates payable.............................
$
61,198.89
Net balances of depositors in closed insured banks pending
settlement or not claimed—contra.....................................
1,579,872.94

$

76,623.72
1,261,435.84

Unused credits for assessments paid to temporary Federal
Deposit Insurance funds and prepaid assessments..

444,280.07

8,360,441.69

Reserve for administrative and deposit insurance expenses.

105,746.50

68,223.32

$ 2,191,098.40

$ 9,766,724.57

$150,000,000.00
139,299,556.99
$289,299,556.99

$150,000,000.00
139,299,556.99
$289,299,556.99

Total liabilities.............................

.........

CAPITAL
Capita] stock:
United States...............
Federal Reserve banks.
Surplus— (See Table 10).......................

93,849,491.47

54,105,323.78

Total capital..........................

$383,149,048.46

$343,404,880.77

Total liabilities and capital.

$385,340,146.86

$353,171,605.34




27

FINANCIAL STATEMENT OF THE CORPORATION

Table 10. ANALYSIS OF SURPLUS ACCOUNT AND DISTRIBUTION OF ADMINISTRATIVE
E x p e n s e s , F e d e r a l D e p o sit I n s u r a n c e C o r p o r a t io n , C a l e n d a r Y e a r

1937

ANALYSIS OF SURPLUS
Balance December 31, 1936..................................................................

$54,105,323.78

Less—Net adjustments applicable to periods prior to January 1,
1937...................................................................................................

84,093.48

Balance as adjusted December 31, 1 9 3 6 =

$54,021,230.30

Surplus for the year ending December 31, 1937:
Additions:
Deposit insurance assessments....................... $ 38,813,549.39
Interest earned and profit on sales of se­
curities—(less provision for amortization
of premiums)...............................................
9,334,858.64

$ 48,148,408.03

Deductions:
Deposit insurance losses and expenses........... $ 5,614,712.84
Administrative expenses.................................
2,651,865.71
Furniture, fixtures and equipment purchased
and charged off...........................................
53,568.31

8,320,146.86

39,828,261.17

. . . $ 93,849,491.47

Balance December 31, 1937___

DISTRIBUTION OF ADMINISTRATIVE EXPENSES
Salaries.............................................................................................................................. $ 1,946,259.80
Professional services.........................................................................................................
4,247.83
Services of other governmental agencies..........................................................................
45.00
Transportation..................................................................................................................
99,463.91
Subsistence........................................................................................................................
388,744.00
Office rental......................................................................................................................
124,520.61
Printing, stationery and supplies.....................................................................................
59,250.16
Postage, telephone and telegraph.....................................................................................
31,296.88
Advertising and notices....................................................................................................
683.88
Fidelity bond premiums...................................................................................................
4,850.54
Subscriptions....................................................................................................................
2,662.95
Equipment rental..............................................................................................................
1,747.08
Repairs and alterations.....................................................................................................
7,538.47
Transportation of things..................................................................................................
3,812.21
Miscellaneous....................................................................................................................
3,741.84
Provision for undetermined expenses..............................................................................
1,822.34
$ 2,680,687.50

Miscellaneous income applicable to reduction of administrative
expenses........................................................................................ $

14,040.71

Inter-departmental expense transfers............................................

14,781.08

Administrative expenses for the year ending December 31,
1937.................................................................................................




$

28,821.79

$ 2,651,865.71

28

FEDERAL DEPOSIT INSURANCE CORPORATION

Assessments. Assessments on insured banks are levied semi­
annually, in January and July, at an annual rate of one-twelfth of
1 percent computed on the basis of certified statements of deposits
submitted by the banks. Total income from assessments amounted
to $38.8 million in 1937, compared with $35.6 million in 1936. The
increase reflected a higher average volume of deposits during the
later year. Approximately $30.8 million of the assessments levied
in 1937 were received in cash and approximately $8 million were
covered by assessments collected under the temporary deposit in­
surance plan and credited to the accounts of the banks under the
permanent plan. Approximately $0.4 million of such credits still
remained at the close of the year to be applied to future assessments.
Incom e from investments. Holdings of United States Govern­
ment securities by the Corporation averaged higher in 1937 than in
1936. Interest received on and profits from the sale of United States
Government securities, less allowances for amortization of purchase
premiums, amounted to $9.3 million in 1937, compared with $8.2
million in 1936.
Operating expenses. Administrative expenses of the Corporation
amounted to $2.7 million in 1937, compared with $2.5 million in 1936.
These expenses were less than one-third of the income of the Corpora­
tion from its investments in United States Government securities.
The cost of examining banks not members of the Federal Reserve
System was a large part of the administrative expense. Deposit
insurance losses and expenses amounted to $5.6 million in 1937,
compared with $4 million in 1936. This item represents the estimated
loss and expense to the Corporation incurred in paying off the de­
positors in banks which closed during the year and in making loans
to and purchasing assets from insolvent banks.

At the close of 1937 the Corporation held subrogated claims of
depositors against closed insured banks, loans to merging banks made
to avert losses, and other assets acquired through bank suspensions
and mergers, amounting at face value to a total of $29.6 million.
These assets were carried on the books of the Corporation at $16.2
million, the balance, $13.4 million, being represented by a reserve
for losses set up by charges to expenses.
Reports to insured banks. During 1937 the Corporation issued
a report summarizing briefly its operations and its income and ex­
penses from the inauguration of the permanent insurance plan to
June 30, 1937. A similar report for the period from June 30 to the
end of the year has also been published.




PART TWO
DEPOSIT INSURANCE AND BANKING DEVELOPMENTS







31

DEPOSIT INSURANCE AND BANKING DEVELOPMENTS
Sum m ary

op

B a n k in g D e v e lo p m e n t s

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 con­
dition 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.
C o m m e r c ia l B a n k in g O ffic e s

Number and types o f com m ercial banking offices in opera­
tion. 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.
T a b le 11.

N umbbr

T ype op Operating C ommercial B anking Offices
U nited States and P ossessions,
D e c e m b e r 31, 1936, a n d D e c e m b e r 31, 1937
and

in the

Dec. 31,
1937

Dec. 31,
1936

Change
during
year

Banking offices—total........................................................

18,364

18,516

-152

Unit banks......................................................................
Banks operating branches..............................................

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

Branches—total...............................................................
In continental United States—total........................
Located in head office city..........................................
Located elsewhere in county.......................................
Located elsewhere in State..........................................
Located in other States...............................................

NOTE: More detailed figures relating to all commercial banks will be found in Tables 161-05,
pages 68-83, and in Table 108, page 90.




32

FEDERAL DEPOSIT INSURANCE CORPORATION

Changes in operating com m ercial 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
by 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 beginning
of the century. The number of unit commercial banks in the United
States and possessions was reduced by 299 during the year, while the
number of offices of branch banking systems increased by 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.
T a b le 12. ANALYSIS OP CHANGES IN NUMBER OP OFFICES OF OPERATING
C ommercial B anks in the U nited States and P ossessions D uring 1937
Total
offices

|

Banks

Branches

Net change during 1937.....................................................

-152

-269

Banks and branches opened—total.............................

157

64

93

Banks beginning operations and new branches opened..
Trust company admitted to insurance...........................

156
1

63
1

93

90

90

309

2U3

66

58
3

55
3

3

10U
81

10U
81

Banks converted into branches....................................
Banks ceasing operations and branches discontinued
—total............................................................................
Suspensions1....................................................................
Restricted banks placed in liquidation3..........................
Mergers and consolidations, excluding banks converted
f
into branches...............................................................
! Other liquidations.........................................................
Branches otherwise discontinued....................................

63

Excludes 4 banks suspended and reopened or succeeded.
^Excludes 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.

Participation

by

C ommercial B an k s

in

117

63

More detailed

D eposit I nsurance

N um ber o f operating insured and noninsured com m ercial
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. Not­
withstanding 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.
lIn addition, the Corporation was insuring deposits in 56 mutual savings banks.




(See page 53).

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.
T a b le 13.

N u m b e r OP OPERATING INSURED AND NONINSURED COMMERCIAL
B a n k in g O f f ic e s in t h e U n it e d S t a t e s a n d P ossessio n s ,
D e c e m b e r 31, 1936, a n d D e c e m b e r 31, 1937
Number

Percent of total

Dec. 31,
1937

Dec. 31,
1936

Dec. 31,
1937

Dec. 31,
1936

Banking offices...........................................................
Insured...................................................................
Noninsured.............................................................

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

3,482
3,381
101

3,365
3,261
104

19
18
1

18
17
1

Noninsured.............................................................
NOTE:

More detailed figures will be found in Table 101 ( page 68.

Admissions to and terminations o f 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.
T a b le 14.

Adm issions

To

an d T erm in a tion s o f I n s u r a n c e D u r in g 1937
Not offset
Offset
by .
by .
terminations terminations

Total

Total number of admissions.............................................

143

82

New banks..........................................................................
Operating banks admitted to insurance (including suc­
cessors to noninsured banks)..........................................
Trust company not engaged in banking admitted to
insurance........................................................................
Successors to insured banks................................................
Banks withdrawing from Federal Reserve System............

46

46

35

35

1
55
6

1

61

55
6

Not offset
by.
admissions

Total

Offset
by
admissions
61

Total number of terminations.........................................

319

258

Withdrawals from Federal Reserve System.......................
Insurance terminated by FDIC.........................................

6
1

1

Banks ceasing operations—total..................................
Suspensions.....................................................................
Insolvent banks absorbed or succeeded with aid of loans
by FDIC1....................................................................
Other mergers, absorptions, and consolidations.............
Other liquidations...........................................................
Banks succeeded by other banks....................................

312
53

257
51

55
2

24
152
36
47

20
150
36

4
2

6

47

Excluding 1 suspended bank later merged with the aid of a loan from the Federal Deposit Insur­
ance Corporation.
NOTE: More detailed figures will be found in Table 102, page 70.




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 suspen­
sions, 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 re­
mainder were absorptions, consolidations, and liquidations. Details
are given in Table 14.
Deposits o f operating com m ercial banks. During 1937
deposits of all commercial banks averaged $49.1 billion, of which
$47.6 billion, or 97 percent, were in insured banks.1 Deposits de­
clined 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
Ail commercial banks—total...
Insured banks—total..............................
Demand deposits of individuals, partner­
ship, and corporations.........................
Time deposits of individuals, partner­
ships, 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, partner­
ships, 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.




35

ASSETS AND LIABILITIES OF OPERATING BANKS

A ssets

and

L ia b il it ie s

of

O p e r a t in g C o m m ercial B a n k s

Assets and liabilities o f insured com m ercial banks at the
beginning and close o f the year. On December 31, 1937, total
assets of operating insured commercial banks amounted to $54.2
billion, a reduction of $2.0 billion, or 3.5 percent, from the amount
reported a year earlier. Total loans, although somewhat below the
peak reached during the year, were larger at the close of 1937 than
at the close of 1936. Other important types of assets showed de­
creases over the year period. Total book capital account of the
banks increased, and was higher in proportion to total assets and to
total deposits at the close than at the beginning of the year. Changes
during 1937 in assets and liabilities of operating insured commercial
banks are shown in Table 16.
Table 16.

CHANGES IN ASSETS AND LIABILITIES DURING

1937

OPERATING INSURED COMMERCIAL BANKS
(Amounts in millions of dollars)
Amount
Dec. 31,
1937

Change during year

Dec. 31,
1936

Amount

Percent

ASSETS
Cash and due from banks..............................
Obligations of the U. S. Government............
Other securities..............................................
Loans and discounts.......................................
Miscellaneous assets.......................................
Total assets...........................................

14,931
13,669
6,807
16,718
2,096
54,221

15,731
14,749
7,558
15,940
2,218
56,196

-800
-1,080
-751
+778
-122
-1,975

-5.1
-7.3
-9.9
+4.9
-5.5
-3.5

47,191
626
6,404
54,221

49,258
609
6,329
56,196

-2,067
+17
+75
-1,975

-4.2
+2.8
+1.2
-3.5

LIABILITIES AND CAPITAL
Total deposits.................................................
Miscellaneous liabilities..................................
Total capital account.....................................
Total liabilities and capital account.
NOTE:

More detailed figures will be found in Table 117, page 108.

Bank capital and the expansion o f loans. Total loans of all
insured commercial banks were 5 percent larger in amount at the
close than at the beginning of 1937 notwithstanding the decrease in
total deposits and total assets. All other important classes of assets
declined over the year period. After making adjustments for changes
among the classes of banks, it is estimated that the national and State
banks members of the Federal Reserve System located outside New
York City and Chicago showed about the same percentage increase
in loans in the aggregate, approximately 9 percent, as did the insured
commercial banks not members of the Federal Reserve System. The
banks members of the Federal Reserve System located in New York
and Chicago showed a reduction in loans of 4 percent. In the banks
members of the Federal Reserve System holdings of securities de­
clined substantially and cash and due from banks slightly, while



36

FEDERAL DEPOSIT INSURANCE CORPORATION

in the banks not members of the Federal Reserve System holdings of
securities increased slightly and cash and due from banks declined
substantially.
Among the banks not members of the Federal Reserve System,
adequacy of the capital account and changes in the amount of total
deposits did not appear to affect the extension of loans to their
customers. In general, the percentage growth in loans was larger
among banks with low ratios of total capital account to total assets
and smaller among banks with high capital ratios. Changes in
deposits were generally accompanied by corresponding changes in
holdings of securities and cash and due from banks. Table 17
shows percentage changes in principal classes of assets between De­
cember 31, 1936, and December 31, 1937, of insured commercial
banks not members of the Federal Reserve System grouped according
to the ratio of total capital account to total assets. The percentage
changes are based on figures for identical banks and the capital ratios
are computed on the basis of averages for the three dates December
31,1936, June 30,1937, and December 31,1937.
T a b le 17.

P e r c e n t a g e C h a n g e in P r in c ip a l C l a ss e s
D e c e m b e r 31, 1936, T o D e c e m b e r 31, 1937

op

A s se t s ,

o p e r a t in g in s u r e d c o m m e r c ia l b a n k s n o t m e m b e r s o p t h e f e d e r a l r e s e r v e

SYSTEM GROUPED ACCORDING TO RATIO OF TOTAL CAPITAL ACCOUNT TO TOTAL ASSETS
Number
of
banks

Total
assets

Cash and
due from
banks

Securities

Loans

Other
assets

All banks...............................

6,680

+1.9

-9.3

+3.1

+9.8

-4.2

Banks with total capital
account as percent of
total assets of—
0 to 4.9 percent...................
5 to 9.9 percent...................
10 to 14.9 percent...............

16
1,104
2,566

—
3.6
+3.1
+2.6

-18.7
-7.2
-9.6

+2.3
+3.1
+3.7

+19.3
+14.3
+10.5

-9.3
—
3.0
-3.9

15 to 19.9 percent...............
20 to 24.9 percent...............
25 to 29.9 percent...............
30 percent and over............

1,690
761
312
231

+1.6
+0.2
-0.5
-5.0

-8.7
-12.2
-21.2
-14.1

+3.5
+1.2
+1.3
-2.2

+7.4
+6.7
+9.9
-2.8

-5.4
-2.6
-4.2
-5.5

NOTE: The number of banks is smaller than the number shown in Tables 118-21, pages 112-21,
due to the exclusion of banks (a) for which figures were not available for both dates; (b) in which special
circumstances such as consolidations, reorganizations, etc., affected the comparison; and (c) whose figures
were known to contain some errors which might affect the comparisons. The differences between the
figures for all banks in the above table and comparable percentages derived from Table 118, page 112,
are due* chiefly to the fact that figures in the latter table are not for identical banks.

Changes in the banks’ remaining assets did not appear to show
persistent differences among the banks grouped according to capital
ratios with the exception of cash and due from banks. Banks with
low capital ratios not only held a larger proportion of cash and due
from banks but also apparently attempted to keep the reduction in
the latter item at a minimum, while banks with high capital ratios
permitted their cash and due from banks to decline considerably.
Similar differences in the movement of loans, although less clearly
marked, existed among the 100 largest banks in the country. These



37

ASSETS AND LIABILITIES OF OPERATING BANKS

banks held more than one-half of the total deposits of all commercial
banks and all but three of them were members of the Federal Reserve
System. Total loans of the 100 banks were reduced during the year.
In general, loans were reduced most in the banks with high capital
ratios, and were reduced least or were increased in those with low
capital ratios. In New York City, where 21 of these banks were
located, there did not appear to be marked differences with regard to
the decrease in loans between banks with high capital ratios and those
with low capital ratios.
Assets and liabilities o f all com m ercial banks, 1920,1929, and
1937. Total assets of all commercial banks in the United States and
its possessions on June 30, 1937, totaled $56.8 billion, as compared
with $62.2 billion in the middle of 1929 and $47.4 billion in 1920.
These dates are selected as fairly representative of three periods of
active business with bank credit outstanding in substantial volume.
Although the number of banks in 1937 was approximately one-half
the number in 1920, total assets were one-fifth greater. As compared
with 1929, the number of banks declined by 40 percent and total
assets by 8 percent.
Changes in the composition of assets of all commercial banks over
the 17-year period have been substantial. Cash and amounts due
from banks comprised 26 percent of all assets in 1937, or almost twice
the proportion held in 1929 and considerably more than in 1920.
Holdings of United States Government securities at 26 percent were
more than three times either the 1920 or the 1929 figure. The
proportion of assets in the form of loans and discounts, at 31 percent
in 1937, was very little more than one-half as great as in 1929 or 1920.
The banks’ loans appeared to be of higher quality than in the two
earlier periods. The percentage distribution of assets and liabilities
is shown in Table 18.
T a b le 18.

PERCENTAGE DISTRIBUTION OF ASSETS AND LIABILITIES,
1920, 1929, AND 1937

ALL OPERATING COMMERCIAL BANKS IN THE UNITED STATES AND POSSESSIONS
June 30,
1920

June 29,
1929

June 30,
1937

ASSETS
Cash and due from banks....................................................
Obligations of the United States Government.....................
Other securities....................................................................
Loans and discounts.............................................................
Miscellaneous assets.............................................................
Total assets.................................................................

17.2%
7.9
10.4
60.6
3.9
100.0

14.6%
8.0
13.8
57.3
6.3
100.0

26.4%
25.7
13.2
30.7
4.0
100.0

77.0%
6.9
1.5
2.7
11.9
100.0

78.7%
2.7
1.0
3.4
14.2
100.0

86.9%

LIABILITIES AND CAPITAL
Total deposits.......................................................................
Rediscounts and borrowings................................................
National bank notes.............................................................
1\|i«w>lianoo^8 liabilities.......................................................
Total capital account...........................................................
Total liabilities and capital account......................




1.3
11.7
100.0

38

FEDERAL DEPOSIT INSURANCE CORPORATION

Among the liabilities, total deposits showed the largest change from
the earlier years, amounting to 87 percent of total liabilities and
capital, as compared with about 78 percent in 1920 and 1929. By 1987,
borrowings were reduced to negligible proportions. As a result of the
material increase in the proportion of total liabilities taking the form
of deposits, however, the amount of total capital account in proportion
to total deposits declined from 15.5 percent in 1920 and 18.1 percent
in 1929 to 13.5 percent in 1937.
A p p r a is a l

of

A ssets

of

of th e

I n su r ed C o m m ercial B a n k s
F e d e r a l R e s e r v e S yste m

not

M em bers

At the time of examination the examiner ascertains the value of a
bank’s assets and classifies them as to quality. Worthless assets or
assets of doubtful worth are listed as loss or doubtful. Loss and
doubtful assets are deducted from book value, and the determinable
sound banking value of assets not shown on the books is added to the
book value of assets in order to obtain the net or appraised value.
The difference between book value and net value is known as net loss
and doubtful, or net appreciation, as the case may be. Undesirable
or hazardous assets are listed; such assets are designated as sub­
standard in this report. Bank premises and equipment and holdings
of real estate are listed as fixed assets.
Total assets. Examination of insured commercial banks not
members of the Federal Reserve System showed total assets with a
book value of $7.1 billion. These assets were distributed as follows:
cash and due from banks, $1.5 billion; securities, $2.6 billion; loans
and discounts, $2.6 billion; miscellaneous assets, consisting chiefly
of banking house, furniture and fixtures and other real estate, $0.4
billion. The appraised value of the assets was $7.0 billion or practical­
ly the same as the book value. Approximately 16 percent of the
assets were classified as fixed and substandard; 83 percent were of
good quality. The percentage figures are shown in Table 19.
T a b le 19.

A ppraised V alue of A ssets as P ercent
E xamination in 1937

of

B ook V alue ,

OPERATING INSURED COMMERCIAL BANKS NOT MEMBERS OF THE
FEDERAL RESERVE SYSTEM

Book
value

Total assets...............................................
Cash and due from banks.......................
Securities.................................................
Loans and discounts...............................
Miscellaneous assets................................

100.0%
100.0
100.0
100.0
100.0

Loss and
doubtfulnet1

1.1%
2
1.0
2.5
8.1

Appraised value
Total

Fixed and
sub­
standard

98.9%
100.0
101.0
97.5
91.9

Assets classified as loss and doubtful less value of assets not shown on books.
2
Net appreciation,
includes fixed assets.
NOTE: More detailed figures will be found in Table 127, pages 132-35.




15.6%
12.8
16.4
882.9

Not
criticized
83.3%
100.0
88.2
81.1
9.0

39

APPRAISAL OF ASSETS OF INSURED COMMERCIAL BANKS

The value of securities was appraised at 1 percent above book
value while loans were appraised at 2.5 percent and miscellaneous
assets at 8 percent below book value. The percentage of various
types of assets classified as fixed and substandard was 13 in the case
of securities, 16 in the case of loans, and 83 in the case of all other
assets, excluding cash and amounts due from other banks. Fixed
and substandard miscellaneous assets include investment in banking
house and holdings of real estate acquired in settlement of debts.
There was considerable variation among the banks in the propor­
tion of assets classified as fixed and substandard. In one-third of the
banks less than 10 percent of the assets were so classified while in
3 percent of the banks over 40 percent of the assets were fixed and
substandard. The figures are shown in Table 20.
Table 20.

DISTRIBUTION OF OPERATING INSURED COMMERCIAL BANKS NOT
M e m b e r s o f t h e F e d e r a l R e s e r v e S ystem A c c o r d i n g t o P e r c e n t o f
F i x e d a n d S u b s t a n d a r d A s s e t s , E x a m in a t io n in 1937
Number
of
banks

Percent
of
total

Cumulative
percent
of total

All banks...............................................................................

7,293

100.0

Banks with fixed and substandard assets as percent
of net value of assets of—
0 to 9 percent......................................................................
10 to 19 percent..................................................................
20 to 29 percent.................................................................

2,403
2,836
1,384

32.9
38.9
19.0

32.9
71.8
90.8

30 to 39 percent..................................................................
40 percent and over............................................................

479
191

6.6
2.6

97.4
100.0

The examinations made by the Corporation show a continuous
improvement in the quality of assets held by the banks since their
admission to deposit insurance. At the time of examination for
admission in 1933 and early 1934 more than 10 percent of the banks'
assets were classified as loss and doubtful. The amount of assets so
classified was reduced in each successive year reflecting the charging
off of losses by the banks, recoveries in the value of some assets, and
improvement in the credit status of debtors. The proportion was
reduced to an even greater extent by the growth in total assets.
The proportion of assets criticized as substandard has likewise been
reduced. The figures are shown in Table 21.
Table 21.

A p p r a is e d VALUE OF TOTAL ASSETS AS PERCENT OF BOOK VALUE,
E x a m in a tio n s 1933-1937
OPERATING INSURED COMMERCIAL BANKS NOT MEMBERS OF THE
FEDERAL RESERVE SYSTEM
1937

Book value.........................
Loss and doubtful-net2............................
Appraised value.......................................
Fixed and substandard..........................
Not criticized.........................................

1936

1935

1934

100.0%

100.0%

100.0%

100.0%

100.0%

1.1
98.9
15.6
83.3

1.4
98.6
16.2
82.k

4.1
95.9
19.6
76.3

6.5
93.5
(3
)
(3
)

10.5
89.5
(3
)
(*
>

Examination for admission to insurance in 1933 and early 1934.
2
Assets classified as loss and doubtful less value of assets not shown on books.
3
Not available.




U933

40

FEDERAL DEPOSIT INSURANCE CORPORATION

Securities. Of the securities held by insured commercial banks
not members of the Federal Reserve System, approximately 13 per­
cent were substandard in quality and 87 percent were of acceptable
grade and were not criticized by examiners. The distribution of
securities held by all insured commercial banks not members of the
Federal Reserve System at the time of examination in 1937 is shown
in Table 22.
Table 22.

B o o k V a l u e o f S e c u r it ie s , E x a m in a t io n i n 1937
OPERATING INSURED COMMERCIAL BANKS NOT MEMBERS OF THE
FEDERAL RESERVE SYSTEM
Amount
(in millions
of dollars)

Percent
of total
securities

Total securities..........................................................................................

2,584

1 0 0 .0

Group I—satisfactory for bank investment.....................................

2,261

87.5

1,195

46.2

44
416

1.7
16.1

36
105
160
239

1.4
4.1

Obligations of the U. S. Government—direct and fully guaranteed..
Other obligations of Federal agencies and territorial and insular
governments......................................................................................
Obligations of States and their political subdivisions..........................
Corporate bonds rated—
First grade.........................................................................................
Second grade.....................................................................................
Third grade.................................... ..................................................
Fourth grade.....................................................................................
Miscellaneous1 .......................................................................................

6 .2

66

9.3
2.5

Substandard—unsatisfactory for bank investment........................

344

13.3

Low grade bonds8 ..................................................................................
Defaulted bonds and those in imminent danger of default3.................
Stocks....................................................................................................

200

Valuation allowance—net...........................................................................

21

57
87

7.7
2 .2

3.4

includes not-rated corporates and some not-rated municipals.
includes obligations of corporations and of States and their political subdivisions.
NOTE: More detailed figures will be found in Table 130, page 140.

In one-fifth of the banks examined in 1937, there were practically
no substandard securities and in another one-third of the banks not
more than 10 percent of the securities held were substandard. In
approximately 7 percent of the banks more than half of the securities
were substandard. The figures are presented in Table 23.
Table 23.

DISTRIBUTION OF OPERATING INSURED COMMERCIAL BANKS NOT
M e m b e r s of t h e F e d e r a l R e s e r v e Sy st e m A c c o r d in g t o P e r c e n t of
Su b s t a n d a r d S e c u r it ie s , E x a m in a t io n in 1937
Number
of
banks

Percent
of
total

Cumula­
tive
percent

All banks...............................................................................
Banks with no securities................................................
Banks with substandard securities as percent of
total securities of—
0 percent..........................................................................
1 to 5 percent..................................................................
5 to 10 percent................................................................
10 to 15 percent..............................................................

7,293
104

1 0 0 .0

1.4

1.4

1,388
1,367
1,053
793

19.1
18.7
14.4
10.9

20.5
39.2
53.6
64.5

15 to 20 percent..............................................................
20 to 30 percent..............................................................
30 to 50 percent..............................................................
Over 50 percent...............................................................

627
775
694
492

8 .6
1 0 .6

9.5

73.1
83.7
93.2

6 .8

1 0 0 .0




41

APPRAISAL OP ASSETS OF INSURED COMMERCIAL BANKS

Although quality did not differ perceptibly with size and location
of bank, there was variation in the proportion of United States
Government, municipal, and corporate issues held. Security holdings
of the small banks were confined almost entirely to United States
Government and municipal obligations, while the larger banks held
a larger proportion of corporate issues. Banks in the same region
held somewhat similar types of securities.
Table 24.

B o o k a n d M a r k e t V a l u e o p S e c u r it ie s , E x a m in a t io n i n
OPERATING INSURED COMMERCIAL BANKS NOT MEMBERS OF THE
FEDERAL RESERVE SYSTEM

1937

Value of securities
(in millions of dollars)

Number
of banks
examined

Book

Market

Total......................................................................................

7,293

2,584

2,609

Month of examination:
January...............................................................................
February.............................................................................
March.................................................................................

456
470
668

160
209
262

166
216
267

April....................................................................................
May.....................................................................................
June.....................................................................................

625
659
583

193
246
205

194
246
208

July.....................................................................................
August.................................................................................
September..........................................................................

448
572
693

142
167
210

145
170
209

October...............................................................................
November...........................................................................
December............................................................................

745
741
633

255
277
258

252
278
258

Examinations made during the first eight months of 1937 indicated
that in the aggregate the market value of the securities held was
higher than the value at which they were carried on the banks’ books.
Examinations made in the last four months of the year, a period in
which prices of medium and low grade securities declined substantial­
ly, revealed little or no market depreciation below book value. Table
24 shows the book and market values of securities held by the banks
examined in each month in 1937.
Loans. The volume of loans outstanding in 1937 was higher than
in any other recent year. Both the amount and the proportion of
loans criticized by the examiners were considerably smaller than in
any year since the Corporation was established. The proportion
Table 25.

A p p r a is e d V a l u e of L o a n s a s P e r c e n t
E x a m in a t io n s 1934-1937

of

B ook V alu e,

o p e r a t in g in s u r e d com m e r c ia l b a n k s n o t m e m b e r s of t h e

FEDERAL RESERVE SYSTEM
1937

Book value...................................................................
Loss and doubtful.....................................................
Appraised value.........................................................
Substandard............................................................
Not criticized...........................................................
NOTE:

1 0 0 .0 %

2.5
97.5
164
81.1

1936

1 0 0 .0 %

4.4
95.6
21.0
7A.6

More detailed figures will be found in Table 129, page 138.




1935

1 0 0 .0 %

6.5
93.5
254
68.1

1934

1 0 0 .0 %
8 .0

92.0
S2.6
594

42

FEDERAL DEPOSIT INSURANCE CORPORATION

criticized was less than one-half as great as in 1934. The improve­
ment reflected the charging off of losses, improvement in the con­
dition of borrowers, the repayment of loans, and the growth in total
loans. Table 25 shows for each year from 1934 to 1937 the appraisal
of loans of insured commercial banks not members of the Federal
Reserve System at the time of examination.
Criticized loans o f all insured com m ercial banks. Total
loans of all insured commercial banks amounted to more than $16
billion in 1937. Slightly more than $2 billion, or 14 percent, were
criticized by the examiners of the three Federal bank examining
agencies. The Comptroller of the Currency reported that 12.5 per­
cent of the loans of national banks were criticized. On the basis of
data covering part of the State banks members of the Federal Reserve
System, it is estimated that about 15 percent of the loans of those
banks were criticized. Of loans held by banks not members of the
Federal Reserve System, 18.9 percent were criticized by examiners.
The percentage of loans criticized was substantially smaller in 1937
than in earlier years.
Table 26. C r it ic iz e d L o a n s , E x a m in a t io n in 1937
OPERATING INSURED COMMERCIAL BANKS BY CLASS OF BANK
Amount (in millions
of dollars)
Total
loans

Criti­
cized
loans

Criticized Percentage
loans as
distribu­
percent of tion of
total
criticized
loans
loans

16)267

AU insured banks..............
Members F. R. System.............................................
National.................................................................
State1......................................................................
Not members F. R. System......................................

2,330

14.3

13,689
8,U27
5,262
2,578

1,843
1,05U
789
487

13.5
12.5
15.0
18.9

1 0 0 .0

79.1
U5.2
83.9
20.9

Partly estimated.

Of the criticized loans nearly half were in national banks, one-third
were in the State banks members of the Federal Reserve System, and
one-fifth were in the insured banks not members of the Federal
Reserve System. Table 26 shows the amount and proportion of
loans criticized by examiners in 1937 in each class of insured banks.
C a p it a l

of

O p e r a t in g I n su r e d C o m m e r c ia l B a n k s

On December 31, 1937, insured commercial banks reported total
capital accounts of $6.4 billion, an increase for the year of $75 million,
or 1 percent. Total deposits in the banks declined during 1937 and
the ratio of total capital account to total deposits increased. The
percentage of aggregate capital account to total deposits of all insured
banks at the close of each of the past four years was as follows:
1937—13.6 percent
1936—12.9 percent
1935—14.1 percent
1934—15.8 percent



CAPITAL OF OPERATING INSURED COMMERCIAL BANKS

43

Changes during the year in the total capital accounts of all insured
commercial banks are summarized in Table 27.
Table 27.

A n a l y s is OP CHANGES IN TOTAL CAPITAL ACCOUNT DURING
OPERATING INSURED COMMERCIAL BANKS
(Amounts in millions of dollars)

1937

Total capital account, December 31, 1937..................................................................

6,404

Total capital account, December 31, 1936..................................................................

6,329

Net change during year.....................................................................................................
Net earnings, recoveries on assets, and profits on securities.........................................
Losses on assets charged off or sold...............................................................................
Dividends........................................................................................ . .............................
Net repayment of capital to the Reconstruction Finance Corporation........................
Other contributions, retirements, and changes due to admission to or withdrawal from
insurance.....................................................................................................................

+75
+780
-395
-225
-96
+11

Capital rehabilitation o f all insured com m ercial banks.
Since the banking holiday of 1933 the total capital account of all
insured commercial banks has increased by about $0.7 billion. In­
cluded in this figure is $0.4 billion of capital in newly organized banks.
Improvement in the capital position of the insured banks was greater
than is indicated by the increase in book capital. The charging off
of $3.5 billion of assets reduced the difference between book capital
and the net invested capital of the banks by a corresponding amount.
This improvement was made possible by the receipt of approximately
$5.5 billion of funds, obtained from the following sources:
Net earnings, recoveries on assets, and profits
on securities................................................. $3.9 billion
Contributions or subscriptions from private
sources.........................................................
0.5 billion
Investment in preferred capital by the Recon­
struction Finance Corporation.....................
1.0 billion
In addition to the $3.5 billion of assets charged off, capital invested
by the Reconstruction Finance Corporation of approximately $0.5
billion was retired. Total interest and dividends on preferred and
common capital amounted to approximately $1 billion.
Capital rehabilitation o f insured com m ercial banks not
members o f the Federal Reserve System. Insured banks not

members of the Federal Reserve System are examined by the Federal
Deposit Insurance Corporation. As a consequence, more detailed
information regarding the improvement in their capital position is
available to the Corporation. In these banks, approximately $700
million of assets were charged off during the period from the banking
holiday of 1933 through 1937. A total of approximately $900 million
of funds was added to the banks’ capital accounts from the following
sources:
Net earnings, recoveries on assets, and profits
on securities................................................. $570 million
Contributions or subscriptions from private
sources......................................................... 100 million
Investment in preferred capital by the Recon­
struction Finance Corporation.................... 230 million



44

FEDERAL DEPOSIT INSURANCE CORPORATION

C A P IT A L

C H A N G E S , 1 9 3 4 -1 9 3 7

OPERATING INSURED COMMERCIAL BANKS NOT MEMBERS OF THE
FEDERAL RESERVE SYSTEM GROUPED BY AMOUNT OF DEPOSITS
Examination for admission

Examination 1937
DOLLARS

DOLLARS

N E T C A P I T A L A C C O U N T P E R $ 10 0 OF
T O T A L D E P O S IT S
40

40

30

2
0
1
0
0
$0,00
10 0

$100,000

$250,000

$500,000

$1,000,000

$2,000,000

$5,000,000

$250,000

$500,000

$1,000,000

$2,000,000

$5,000,000

$50,000,000

to

to

to

to

to

to

------------------Deposits o f Banks------------------------------ ^

DOLLARS

DOLLARS




N E T C A P I T A L A C C O U N T P E R $10 0 OF
T O T A L C A P IT A L A C C O U N T

$500,000

$1,000,000

$2,000,000

$5,000,000

$1,000,000

$2,000,000

$5,000,000

$50,000,000

to

to

to

to

*Deposits of Banks------------------------------^

45

CAPITAL OF OPERATING INSURED COMMERCIAL BANKS

Capital investment of $50 million was repaid to the Reconstruction
Finance Corporation and to others; interest and dividends on pre­
ferred and common capital amounted to about $85 million. Suspen­
sions, mergers, liquidations, admissions to Federal Reserve member­
ship, and conversions into national banks, offset only in part by the
creation of new banks, accounted for a reduction of $90 million. As
a result of these changes, the aggregate capital account of insured
banks not members of the Federal Reserve System was actually
reduced by approximately $40 million between the close of the banking
holiday and December 31. 1937.
The introduction of the new funds which made possible the charging
off of more than $700 million of assets brought about a corresponding
improvement in the banks’ net capital account. At the time of
examination for admission to insurance in 1933 and early 1934 the
net capital account of insured commercial banks not members of the
Federal Reserve System was 11.2 percent of total deposits. By 1937,
the net capital account had increased to 15.3 percent of total deposits
notwithstanding a substantial growth in deposits.
The extent of the improvement is illustrated in Chart I, which
shows the amount of net capital account per $100 of total deposits
and per $100 of book capital of insured commercial banks not members
of the Federal Reserve System grouped by amount of deposits, at the
time of examination for admission to insurance in 1933 and early
1934, and at the time of examination in 1937. The figures are shown
in Table 28.
Table 28.

N e t C a p it a l A ccount P e k $100 o p T o t a l D e p o s it s a n d
C a p it a l A cc o u n t , E x a m in a t io n f o r A d m is s io n t o I n s u r a n c e i n
a n d E a r l y 1934 a n d E x a m in a t io n in 1937

op

T otal

1933

o p e r a t in g in s u r e d co m m e r c ia l b a n k s n o t m e m b e r s o f t h e
f e d e r a l r e s e r v e syst em g r o u p e d b y a m o u n t o f d e p o sit s

Net capital account per
Total deposits

$100

of—

Total capital account

1937

1933
and
1934

1937

1933
and
1934

All banks......................................................................

$15.30

$1 1 .2 0

$92.30

$45.10

Banks with deposits of—
$1 0 0 ,0 0 0 and under...................................................
$100,000 to $250,000.................................................
$250,000 to $500,000.................................................

31.30
20.30
15.70

31.80
17.20
1 2 .2 0

87.50
91.80
94.70

69.00
60.10
52.10

$500,000 to $1,000,000..............................................
$1 ,0 0 0 ,0 0 0 to $2 ,0 0 0 ,0 0 0 ...........................................
$2,000,000 to $5,000,000...........................................

15.20
14.60
14.80

9.80
9.20
10.60

93.20
90.50
90.60

40.70
37.70
42.30

$5,000,000 to $10,000,000.........................................
$10,000,000 to $50,000,000.......................................
Over $50,000,0001......................................................

16.20
14.90

86.80
11.50 i1 94.10
101.50
2.60

44.00
19.60

1 2 .2 0

x
Because of the small number of banks, the figures for this group are not necessarily typical of banks
with deposits of over $50,000,000.
NOTE: More detailed figures will be found in Table 124, page 124.




46

FEDERAL DEPOSIT INSURANCE CORPORATION

There has been a substantial reduction in the number of banks
with extremely low capital ratios. At the time of admission to
insurance in 1933 and early 1934, approximately 750 banks had no
net capital account at all, compared with 13 banks in 1937. Another
750 banks had a net capital account equal to less than 5 percent of
total deposits in 1933 and early 1934, compared with about 75 banks
in 1937. The percentage distribution of the banks grouped according
to the ratio of net capital account to total deposits in each of the
past five years is shown in Table 29.
Table 29.

P e r c e n t a g e D is tr ib u tio n op N u m ber op B a n k s A c c o r d in g t o
N e t C a p i t a l A c c o u n t a s P e r c e n t op D e p o s it s , E x a m in a t io n s 1933-1937
OPERATING INSURED COMMERCIAL BANKS NOT MEMBERS OF THE
FEDERAL RESERVE SYSTEM

1937

All banks...................................................
Banks with net capital account as
percent of deposits of—
0 percent..................................................
0.1 to 4.9 percent....................................
5.0 to 9.9 percent....................................
1 0 .0 percent and over.............................

1 0 0 .0 %

0 .2

0.9
13.8
85.1

1936

1935

1 0 0 .0 %

1 0 0 .0 %

0.3
0.9

0.5
1 .6

10.9
87.0

1 0 .0
8 8 .8

1934

1 0 0 .0 %

0 .6

1.9
10.5
87.0

11933

1 0 0 .0 %

1 0 .0

9.6
14.9
65.5

Examination for admission to insurance in 1933 and early 1934.

Q u a l it y of M a n a g e m e n t op O p e r a t in g I n su r e d C o m m ercial
B a n k s n o t M e m b e r s of th e F e d e r a l R e s e r v e S y stem

Improvement in the quality of bank management is one of the
major problems facing American banking, and the Corporation is
endeavoring to improve management where unsatisfactory conditions
exist. The great majority of banks are under good or satisfactory
management. On the other hand, many banks are operating under
management considered by the Corporation to be poor or unsatis­
factory. Figures relating to the quality of management of operating
insured commercial banks not members of the Federal Reserve
System are shown in Table 30.
Table 30.

DISTRIBUTION OP NUMBER AND DEPOSITS OF BANKS ACCORDING
t o Q u a lity op M an agem en t, E xam in ation in 1937

OPERATING INSURED COMMERCIAL BANKS NOT MEMBERS OP THE
FEDERAL RESERVE SYSTEM

Number
of
banks

Deposits Percentage distribution
(in millions
of dollars)
Number
Deposits

All banks......................................................................

7,293

6,017

1 0 0 .0

1 0 0 .0

Banks with management considered to be—
Good..........................................................................
Satisfactory...............................................................
Fair............................................................................
Unsatisfactory...........................................................
Poor...........................................................................

747
3,632
2,066
673
175

867
3,083
1,458
437
172

49.8
28.4
9.2
2.4

1 0 .2

14.4
51.2
24.2
7.3
2.9

NOTE:




More detailed figures will be found in Table 128, page 136.

47

QUALITY OF MANAGEMENT OF BANKS

The proportion of banks with good and satisfactory management
appears to be greater among the large banks than among the small
banks. Of the 175 banks with poor management, 10, with deposits
of more than $2,000,000 each, held total deposits of $89 million, while
the remaining 165 banks held $83 million. Of the 673 banks with
unsatisfactory management, 41, with deposits in excess of $2,000,000
each, held total deposits of $179 million, while the 632 remaining
banks held deposits of $258 million.
T a b le 31.

PERCENTAGE DISTRIBUTION OP NUMBER OP BANKS ACCORDING TO
Q u ality op M anagement , E xam ination in 1937

OPERATING INSURED COMMERCIAL BANKS NOT MEMBERS OF THE
FEDERAL RESERVE SYSTEM GROUPED BY AMOUNT OF DEPOSITS
Banks with management considered to be—
All
banks

A11 banks...............................

Good

Fair

Unsatis­
factory

Poor

49.8%

28.4%

7.9
8.9

37.8
48.3
52.8

36.3
31.5
28.4

16.3
9.9
8 .1

1 .8

1 0 0 .0
1 0 0 .0
1 0 0 .0

12.7
15.2
15.2

52.3
49.9
49.7

23.9
24.4
23.4

8 .1

7.5
9.4

3.0
3.0
2.3

1 0 0 .0
1 0 0 .0
1 0 0 .0
1 0 0 .0

14.3
28.9
25.0

57.1
40.0
50.0

2 2 .1
2 2 .2

6.5
6.7

2 .2

25.0

1 0 0 .0 %

Banks with deposits o f$1 0 0 ,0 0 0 and under.............
$100,000 to $250,000..........
$250,000 to $500,000..........

1 0 0 .0
1 0 0 .0
1 0 0 .0

$500,000 to $1,000,000.......
$1 ,0 0 0 ,0 0 0 to $2 ,0 0 0 ,0 0 0 . ..
$2,000,000 to $5,000,000. ..
$5,000,000 to $10,000,000. .
$10,000,000 to $25,000,000.
$25,000,000 to $50,000,000.
Over $50,000,000!...............

1 0 .2 %

Satis­
factory

6 .6

9.2%

2.4%
3.0
2.4

because of the small number of banks, the figures for this group are omitted.

Table 31 shows the percentage distribution of the banks according
to quality of management at the time of examination in 1937 and
according to size as measured by deposits.
Of the banks with unsatisfactory or poor management about 140
showed a poor capital position and an earning capacity inadequate
to meet the losses which may be expected to result from the quality
of assets held. Of the banks with management rated as fair or
better, 36 had either no net capital account or such a small amount
in comparison with the amount and quality of assets as to constitute
hazardous situations.
These 176 banks held total deposits at the time of examination in
1937 of about $220 million, of which about $180 million, or approx­
imately 80 percent, are estimated by the Corporation’s examiners to
be insured. Total assets of these banks were appraised at $245
million, of which $170 million were uncriticized and $75 million, or
about 30 percent, were substandard. Most of these banks were
among the problem cases as far back as 1934. They were unable
to rehabilitate themselves after the banking crisis of 1933. The
Corporation is endeavoring to secure correction of these situations.



48

FEDERAL DEPOSIT INSURANCE CORPORATION

E a r n in g s

of

O p e r a t in g I n su r e d C o m m e r c ia l B a n k s

Insured commercial banks reported higher net current operating
earnings but lower net profits in 1937 than in 1936.
In considering the profitability of banking operations for a single
year, or for a few years, the figures of net current operating earnings
are more significant than those of net profits. Net earnings indicate
the extent to which the gross current earnings of the bank, after
covering operating expenses, are available to provide for net losses on
assets and for a return on capital. The figures of net earnings are
relatively stable. Net profits consist of net current operating earnings
(1) plus recoveries on assets previously charged off, reductions in
valuation allowances, and profits on securities sold, (2) less losses on
assets and additions to valuation accounts. In any one year the
figure for net profits is affected by the amount of losses or recoveries
on assets which happen to be taken in that year. Inasmuch as the
items upon which losses or recoveries are taken accumulate over a
period of years, the amounts charged off, or recovered, in any one
year may not necessarily bear any relation to operations in that year.
Net current operating earnings o f all insured com m ercial
banks. Net current operating earnings of insured commercial banks

amounted to $471 million in 1937, or approximately 7.5 percent on
total capital account. Net earnings have shown an increase in each
of the last three years, not only in absolute amounts but also in
relation to total assets and total capital account. The increase in
net earnings of 7 percent, as compared with 1936, was the result of
higher gross earnings only partly offset by higher total current
expenses. Table 32 shows earnings, expenses, and disposition of
profits of these banks for 1937 and 1936 in relation to assets and to
total capital account.
Table 32.
to

EARNINGS, E x p e n s e s , AND DISPOSITION OP PROFITS RELATED
T o t a l A sse t s a n d t o T o t a l C a p it a l A c c o u n t , 1936 a n d 1937
OPERATING INSURED COMMERCIAL BANKS

Amounts per $100 of—
Total assets1
1937

Total capital account1
1937

1936

$2.92
2.09

$25.62
18.22

$24.94
17.89

.8 6

.83

7.40

7.05

Losses, charge-offs, etc..................................................

.56
.72

1.09
.94

4.85

9.32
7.99

Net profits after income taxes.....................

.69

.98

5.97

8.34

Cash dividends declared and interest paid on capital..

.41

.42

3.54

3.55

.28

.56

2.43

4.79

Gross current operating earnings..................................
Total current operating expenses.................................
Net current operating earnings—

Net profits after dividends............................

$2.97
2 .1 1

1936

Averages of figures for beginning, middle, and end of year.
NOTE: More detailed figures will be found in Tables 131-33, pages 141-43.




6 .2 0

49

EARNINGS OP OPERATING INSURED COMMERCIAL BANKS

Gross earnings from current operations amounted to $1,631 million,
or 4 percent more than in 1936. Larger income from loans and dis­
counts accounted for almost three-fourths of the increase in total
earnings, and was due to the increase in the volume of loans and
discounts outstanding. Table 33 shows earnings, expenses, and
disposition of profits of all insured commercial banks in 1934, 1935,
1936, and 1937.
Table 33.

E a r n in g s , E x p e n s e s , a n d D isp o s it io n o f P r o f it s
O p e r a t in g I n s u r e d C o m m e r c ia l B a n k s , 1934-1937
(Amounts in millions of dollars)
1937

1936

1935

Gross current operating earnings..................................
Total current operating expenses1.................................

1,631
1,160

1,564
1 ,1 2 2

1,483
1,081

of

1934
1,516
1,115

Net current operating earnings...................

471

442

402

401

Profits on assets sold, recoveries, etc............................
Losses, charge-offs, etc. 1................................................

309
395

584
501

432
627

292
1,032
8339

Net profits after income taxes3 .....................

380

523

207

Cash dividends declared and interest paid on capital..

225

223

207

Net profits after dividends............................

155

300

188
*527

J
Tbe figures for 1936 and prior years 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.
3
Income taxes are included under total current operating expenses except for banks not members of
the Federal Reserve System in 1936 and 1937. These banks paid income taxes of $2,442,000 in 1936,
and of $4,848,000 in 1937.
8
Net loss.
NOTE: More detailed figures will be found in table 132, page 142.

Current operating expenses were 3.4 percent larger than in the
previous year. A larger amount of salaries, wages, and fees accounted
for two-thirds of the increase in total expenses.
Net profits o f all insured com m ercial banks. Net profits after
recoveries and charge-offs, but before dividends, amounted to $380
million in 1937, or 6 percent on total capital account. Approximately
59 percent of the net profits, or $225 million, were paid out in cash
dividends and in interest on capital notes and debentures. Of this
amount $24 million were represented by interest and dividends on
preferred capital, practically all of which was held by the Recon­
struction Finance Corporation. Total interest paid and dividends
declared on preferred and common capital were equivalent to 3.5
percent of total capital account, and to 7.5 percent of the par value
of capital stock, notes, and debentures. The balance of the net
profits, amounting to $155 million, was retained by the banks and
added to total capital account.
Net profits in 1937 were about one-fourth less than in 1936. This
decrease in net profits was due chiefly to the smaller profits and
recoveries on securities sold. Recoveries from securities previously
charged off decreased 67 percent, and profits on securities sold dropped
56 percent, while charge-offs on securities increased 14 percent.
These changes reflected developments in the security markets. In
contrast, charge-offs on loans declined 44 percent.



50

FEDERAL DEPOSIT INSURANCE CORPORATION

Dividends and interest on preferred and common capital were at
slightly higher rates in 1937 than in 1936. As a result the balance
added to the total capital account was about one-half that added in
1936, and amounted to only 2.5 percent of the total capital account.
Net current operating earnings o f insured com m ercial banks
not members o f the Federal Reserve System. Insured commer­

cial banks not members of the Federal Reserve System, as a group,
showed a higher rate of gross earnings, of total expenses, and of net
earnings than insured commercial banks, as a whole.
The insured commercial banks not members of the Federal Reserve
System were distributed according to net current operating earnings
per $100 of total assets, as follows:
.. 2 percent
.. 30 percent
.. 52 percent
......... 16 percent

Net deficits...............................
Net earnings of less than $1.00.
Net earnings of $1.00 to $1.99..
Net earnings of $2.00 and over.

The proportion of banks showing low rates of earnings and net
operating deficits was smaller in 1937 than in 1936, while the propor­
tion of banks reporting average or higher-than-average earnings was
greater. The distribution of the number and deposits of insured
commercial banks not members of the Federal Reserve System
according to rates of net earnings in 1936 and 1937 is shown in Table
34. Figures showing earnings, expenses, and disposition of profits
of insured commercial banks not members of the Federal Reserve
System are presented in Table 35. Detailed figures for these banks,
grouped according to rate of net earnings, rate of net profits, size of
bank, population of center in which located, and number of banking
offices in center, are presented in Tables 135-44, pages 146-62.
T a b le 34.

PERCENTAGE DISTRIBUTION OP NUMBER AND DEPOSITS OP
B a n k s A c c o r d in g t o R a t e o f N e t E a r n i n g s , 1936 a n d 1937

INSURED COMMERCIAL BANKS NOT MEMBERS OF THE FEDERAL RESERVE SYSTEM
OPERATING THROUGHOUT ENTIRE YEAR

Number of banks
1937

All banks......................................................................
Banks with net earnings per $100 of total
assets of — 1
$-0 .0 1 or less2 ............................................................
$0.00 to $0.49............................................................
$0.50 to $0.99............................................................

1 0 0 .0 %

1936

1 0 0 .0 %

1937

1936

1 0 0 .0 %

1 0 0 .0 %

1.3

7.2
22.5

25.0

26.1

1.7
12.4
28.1

31.3

28.8
17.3

38.4
16.4
5.8

34.6
14.2
5.8

1.9
1.5

2 .1
1 .1

1 .6

$1.00 to $1.49............................................................
$1.50 to $1.99............................................................
$2.00 to $2.49............................................................

2 1 .0

$2.50 to $2.99...........................................................
$3.00 and over...........................................................

4.0
3.4

9.0

2.7

Amount of deposits

1 2 .0

8 .0

3.4
2 .8

8 .6

x
For 1987, averages of figures for December 31, 1936, June 30, 1937, and December 81, 1937; for
1936, averages of end-of-month figures.
2
Minus (-) indicates net deficit.
NOTE: More detailed figures for 1937 will be found in Tables 140-42, pages 156-60.




51

EARNINGS OF OPERATING INSURED COMMERCIAL BANKS

In 1937, as in the two preceding years, net earnings per $100 of
assets were higher in the small banks than in the large banks. In
general, the proportion of banks with high earnings was greater
among the small banks. Similarly, with the exception of the very
small banks, the proportion with net deficits was lower among the
small banks.
Although the differences were not so marked as in the case of banks
grouped by size, in both years banks in larger centers showed lower
rates of net current operating earnings, than those in smaller centers.
In 1937, as in 1936, the States in which the banks showed the
highest rates of net earnings were predominantly agricultural, and
those in which net earnings were lowest were predominantly industrial.
T a b le 35. E arnings , E xpen ses , and D isposition op P rofits
R elated to T otal A ssets and to T otal C apital A ccount , 1937
INSURED COMMERCIAL BANKS NOT MEMBERS OF THE FEDERAL RESERVE SYSTEM
OPERATING THROUGHOUT ENTIRE YEAR

Amounts
in millions
of
dollars

Amounts per $100 of—
Total
assets1

Total
capital
account1

309
220

$4.25
3.03

$30.34
21.61

89

1.22

8.73

52
93

.72
1.27

5.15
9.12

48

.67

4.76

5

.07

.47

Net profits after in com e taxes.................................

43

.60

4.29

Cash dividends declared and interest paid on capital...........

24

.34

2.40

Net profits after dividends........................................

19

.26

1.89

Gross current operating earnings.............................................
Total current operating expenses.............................................
Net current operating earnings.......
Profits on assets sold, recoveries, etc.......................................
Losses, charge-offs, etc..............................................................
Net profits before incom e taxes___
Income taxes...............................................

Averages of figures for December 31, 1936, June 30, 1937, and December 31, 19.37.
NOTE: More detailed figures will be found in Tables 134-44, pages 144-62.

Net profits o f insured com m ercial banks not members o f the
Federal Reserve System. In spite of the very large decrease,

25 percent, in the amount of net profits, the proportion of the banks
which reported net profits was practically unchanged in 1937 as
compared with 1936. However, the proportion of banks showing
high profits decreased from 14 percent to 9 percent. The figures
are shown in Table 36.
In general, those banks which showed high rates of net current
operating earnings before recoveries and charge-offs, also showed
high rates of net profits after recoveries and charge-offs. However,
33 percent of the 116 banks with net deficits before recoveries and



52

FEDERAL DEPOSIT INSURANCE CORPORATION

charge-offs showed net profits after recoveries and charge-offs, while
15 percent of the 7,235 banks with net earnings before recoveries and
charge-offs showed net losses after recoveries and charge-offs. De­
tailed figures are presented in Table 144, page 162.
Table 36.

DISTRIBUTION OF NUMBER OF BANKS ACCORDING TO RATE OF NET
P r o f it s , 1936 a n d 1937

INSURED COMMERCIAL BANKS NOT MEMBERS OF THE FEDERAL RESERVE SYSTEM
OPERATING THROUGHOUT ENTIRE YEAR
Number of banks
1937

All banks................................................................ .

1936

Percentage distribution
1937

1936

7,351

7,460

1 0 0 .0

1 0 0 .0

Banks with net profits per $100 of total assets
of — 1
$- 1 .0 0 or less5............................................................
$-0.01 to $-0.99*.......................................................

366
796

360
686

5.0
10.9

4.8
9.2

$0.00 to $0.99............................................................
$1.00 to $1.99............................................................
$2 .0 0 and over...........................................................

3,191
2,318
680

3,044
2,343
1,027

43.3
31.5
9.3

40.8
31.4
13.8

lFor 1937, averages of figures for December 31, 1936, June 30, 1937, and December 31, 1937; for
1936, averages of end-of-month figures.
3
Minus (-) indicates net loss.
NOTE: More detailed figures for 1937 will be found in Tables 143,144, pages 161,162.

Dividends. The distribution of insured commercial banks not
members of the Federal Reserve System with respect to dividend
payments was as follows:
Paying dividends or interest on preferred capital
only...................................................................26 percent
Paying dividends or interest on preferred and
common capital........................................... . .13 percent
Paying dividends on common capital only.......... 33 percent
Paying no dividends.......
............................. 28 percent
Those banks which paid common dividends only had no preferred
stock, or capital notes and debentures outstanding. Less than
10 percent of the banks which had preferred capital outstanding paid
no dividends to owners of these investments.
Interest received and paid. The average rate of interest re­
ceived on loans in 1937 was slightly under 6 percent, approximately
the same as in 1936. The average rate of return on securities was
about 3.5 percent in both years. The average rate of interest paid
on time and savings deposits declined in 1937 as in each of the pre­
ceding three years. Rates continued to be higher than average
among small banks and among banks in small centers. Banks with
high net earnings paid a higher than average rate of interest on time
deposits. Table 37 shows average rates of return on loans, and on
securities, and average rates of interest paid on time deposits in each



53

INSURED MUTUAL SAVINGS BANKS

of the past four years by operating insured commercial banks not
members of the Federal Reserve System.
Table 37.

INTEREST R e c e iv e d ON L o an s AND ON SECURITIES AND INTEREST
P a id o n T im e D e p o s it s , 1934-19371

INSURED COMMERCIAL BANKS NOT MEMBERS OF THE FEDERAL RESERVE SYSTEM
OPERATING THROUGHOUT ENTIRE YEAR

1937

1936

1935

1934
$5.90

Interest and discount received per $100 of loans.........

$5.92

$5.96

$5.75

Interest and dividends received per $ 1 0 0 of securities..

3.44

3.55

3.51

3.77

Interest paid per $100 of time deposits........................

1.92

2.09

2.28

2 77

^sset and liability items are averages of figures for beginning, middle, and end of year in 1934,
1935 and 1937; averages of end-of-month figures in 1936.
NOTE: More detailed figures for 1937 will be found in Tables 135-41, pages 146-59.

I n su r ed M u t u a l S a v in g s B a n k s

On December 31,1937, the Federal Deposit Insurance Corporation
was insuring deposits in 56 mutual savings banks. Total deposits in
these banks amounted to $1 billion, of which about 90 percent are esti­
mated to have been protected by insurance. Of these 56 banks, 11 had
deposits of more than $10 million each and 45 had deposits of less than
$10 million each. Two banks held more than one-half of the deposits.
These 56 banks were located in 12 States. Due to the small number
of banks, the variation in their size, the wide differences in geographic
location and in conditions under which they were operating, the data
relating to the insured mutual savings banks are not necessarily
accurate indicators of the condition and operations of all mutual
savings banks in the country.
Assets and capital o f insured mutual savings banks. Total
assets of the 56 insured mutual savings banks amounted to $1,141
million on December 31, 1937, an increase of 1 percent during the
year. Holdings of real estate mortgages, which represent about
two-fifths of the assets of these banks, decreased slightly; real estate
acquired through foreclosure or deed increased by almost an equal
amount. Holdings of United States Government obligations in­
creased about 6 percent, while holdings of other securities decreased
by an equal percentage.

Since mutual savings banks have no capital stock, their total
capital account consists chiefly of surplus and reserve accounts, built
up from undistributed earnings. During 1937, total capital account
of insured mutual savings banks increased by about $1.25 million',
or 1 percent. At the end of 1937, total capital account was equal to
13 percent of deposits, essentially the same as in insured commercial
banks. Capital notes and debentures of $12.5 million in 25 banks
x
The condition reports show an increase of $1.66 million.
of a change in accounting methods.




The difference of $410,000 is the result

54

FEDERAL DEPOSIT INSURANCE CORPORATION

were owned by the Reconstruction Finance Corporation. During
the year $80,000 of capital notes and debentures were retired. At
the close of the year, the preferred capital was equal to 9 percent of
the total capital account of all insured mutual savings banks.
Table 116, page 107, gives comparative condensed balance sheets of
the insured and noninsured mutual savings banks at the beginning
and close of 1937.
Earnings, expenses, and disposition o f profits o f insured
m utual savings banks. Gross current operating earnings of the

56 insured mutual savings banks amounted to $42 million in 1937,
or 1.5 percent more than in 1936. Current operating expenses,
excluding interest and dividends to depositors, were about 10 percent
higher than in 1936 and about 20 percent higher than in 1935. As
a result, net current operating earnings, which amounted to $26
million in 1937, were 3 percent less than in 1936. In 1937, recoveries
and profits on assets sold decreased by approximately 11 percent,
whereas losses increased about 37 percent. As a consequence, net
profits available for distribution to depositors and for addition to
capital funds were reduced approximately 23 percent.
About $19 million, or 92 percent of the net profits, were used to
pay interest and dividends to depositors. The rate of return to
depositors amounted to 1.9 percent compared with 2.0 percent in the
preceding year and more than 2 percent in earlier years. Of the
remaining profits, $1.25 million were added to capital funds and $0.5
million were used to pay interest on and to retire capital notes and
debentures held by the Reconstruction Finance Corporation. The
earnings and expenses of the insured mutual savings banks in 1935,
1936, and 1937 are given in Table 145, page 163.







PART THREE
RESEARCH REPORTS




R e sear ch R e po r ts

It is the policy of the Corporation to present in this section special
studies prepared for the administrative use of the Corporation but
which also possess general interest. No such studies are available
for publication at this time.







PART FOUR
LEGISLATION, REGULATIONS, AND INSTRUCTIONS







L e g isla tio n

No legislation affecting the Federal Deposit Insurance Corporation
was enacted during 1937.
R eg u l a tio n s

and

R u lin g s

op t h e

C o r po r a tio n

No regulations regarding insured banks were issued by the Corpora­
tion during 1937. Regulation IV 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 amended
regulation was published in the Annml Report of the Federal Deposit
Insurance Corporation for the year ending December 31, 1936, pages
86 to 91.







PART FIVE
STATISTICS OF BANKS AND DEPOSIT INSURANCE







STATISTICS OF BANKS AND DEPOSIT INSURANCE

65

EXPLANATORY NOTE
Sources o f 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 them­
selves 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 o f 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.



FEDERAL DEPOSIT INSURANCE CORPORATION

66

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 (15),
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 op­
erating banks or included in abstracts of condition 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, regard­
less 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 o f 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



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 o f 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 o f Profits o f 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 Cur­
rency 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.




68

FEDERAL DEPOSIT INSURANCE CORPORATION

NUMBER OF BANKING OFFICES
Table 101.

NUMBER AND CLASSIFICATION OF OPERATING BANKING OFFICES,

D ecem ber

31, 1935,

D ecem ber

31, 1936,

and

D ecem ber

United States
including possessions

31, 1937*

United States
excluding possessions

Dec. 31, Dec. 31, Dec. 31, Dec. 31, Dec. 31, Dec. 31,
1935
1936
1937
1935
1936
1937

ALL BANKING OFFICES
All banking offices—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

All banks—total.....................................
Insured..................................................
Noninsured............................................

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

All branches—total...............................
Insured..................................................
Noninsured............................................

3,372
3,146
226

3,489
3,268
221

3,606
3,388
218

3,314
3,145
169

3,430
3,265
165

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

6,72k
1,956
8,585

1,357

6,788
2,08k
8,k67
1,282

6,7k8
2,075
8,855

6,72k
1,956
8,581

6,788
2,08k
8,k60

6,7k8
2,075
8,8k8

15,374
14,126

15,151
18,973

14,882
13,797

15,338
14,123

14,848
13,793

5,886
1,001
7,789

5,825
1,051
7,597

15,116
13,969

5,260
1,081
7,k56

5,886
1,001
7,786

5,825
1,051
7,598

5,260
1,081
7,k52

COMMERCIAL BANKING OFFICES
Banking offices......................................
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........................................

1,248

1,178

1,186

1,085

1,267

1,215

1,195

1,147

1 ,1 0 1

1,055

14,518
13,312

14,257
13,119

13,958
12,912

14,494
13,310

14,233
13,117

13,935
12,910

Members F. R. System: national..
Members F. R. System: State ....
Not members F. R. System .......

5,198
856
7,258

Noninsured.....................................

1,206

5,128
898
7,098

5,06k
922
6,926

5,198
856
7,256

5,128
898
7,091

5,06 k
922
6,92 k

Banks operating branches............
Insured...........................................

856
814

894
854

924
885

844
813

883
852

913
883

Members F. R. System: national..
Members F. R. System: State ....
Not members F. R. System .......

188
lh5
k81

197
158
50k

196
159
580

188
lk 5
k80

197
158
502

196
159
528

Branches..............................................
Insured..............................................

3,248
3,139

3,365
3,261

3,482
3,381

3,190
3,138

3,306
3,258

3,424
3,378

1,888
955
8U6

l,k 0 8
988
870

l,k 8 8
99k
899

1,888
955
8k5

l,k 8 8
99k
896

1 01

52

l,k 0 8
988
867

4,337
4,261

Unit banks.......................................
Insured...........................................

Noninsured.....................................

Members F. R. System: national.. ..
Members F. R. System: State .......
Not members F. R. System ..........

Noninsured........................................

42

109

1,138

40

104

1,046

39

1,184

31

1,116

31

48

All offices of banks operating
branches.......................................
Insured...........................................

4,104
3,953

4,259
4,115

4,406
4,266

4,034
3,951

4,189
4,110

Members F. R. System: national..
Members F. R. System: State -Not members F. R. System .......

1,526
1,100
1,827

1,605
1,186
1,87 k

1,68k
1,158

1,526
1,100
1,825

1,605
1,186
1,869

Noninsured.....................................




151

144

1,4*9
140

83

79

1,025

30

46

1,68k
1,158

i,m
76

69

NUMBER OF BANKING OFFICES

Table 101.
D ecem ber

NUMBER AND CLASSIFICATION OF OPERATING BANKING OFFICES,

31, 1935,

D ecem ber

31, 1906,

and

D ecem ber

31, 19371
—Continued

United States
including possessions

United States
excluding possessions

Dec. 31, Dec. 31, Dec. 31, Dec. 31, Dec. 31, Dec. 31,
1935
1937
1936
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

63
623

Banks3 ..................................................
Insured..............................................
Noninsured........................................

566
56
510

563
56
507

562
56
506

566
56
510

563
56
507

562
56
506

Unit banks.......................................
Insured...........................................
Noninsured.....................................

488
52
436

485
52
433

485
52
433

488
52
436

485
52
433

485
52
433

Banks operating branches............
Insured...........................................
Noninsured.....................................

78
4
74

78
4
74

77
4
73

78
4
74

78
4
74

77
4
73

Branches..............................................
Insured...............................................
Noninsured........................................

124
7
117

124
7
117

124
7
117

124
7
117

124
7
117

124
7
117

All offices of banks operating
branches.......................................
Insured...........................................
Noninsured.....................................

202

202

201

202

202

201

191

11

11

191

11

190

*For explanation of classification of banking offices see NOTE on page 65.
’Not members of the Federal Reserve System.




11

191

11

191

686

11

190

70

FEDERAL DEPOSIT INSURANCE CORPORATION

Table 102. ANALYSIS OF CHANGES IN NUMBER AND CLASSIFICATION OF
B a n k i n g O f f i c e s i n t h e U n i t e d S t a t e s a n d P o s s e s s io n s D u r i n g 1937
Insured

Total

Members F. R.
System

Total

National

Not
Nonmembers insured
F. R.
System

State

COMMERCIAL BANKING OFFICES
Number of offices, December 31, 1937...
Number of offices, December 31, 1936...

18,364
18,516

17,178
17,234

6,748
6,733

2,075
2,034

8,355
8,467

1,186
1,282

Net change during year........................

-152

-56

+15

+41

-1 1 2

-96

18
30

Increase................................................
Banks beginning operations..............
Branches opened for business...........

246
63
183

228
46
182

92
7
85

Decrease...............................................
Banks ceding operations..................
Branches discontinued.......................

399
333
66

319
256
63

93
74
19

1

1

1

+36
+35

+3
+3

Trust company not engaged in
deposit banking admitted to
insurance.....................................
Changes in classification: non­
insured to insured..................
Banka.
T ................

+1

Changes in classification: in­
sured to noninsured..........
B anks...........................................
Branches........................................

-2
-2

Changes in classification among
insured banks..........................
Banks.............................................
Branches........................................

-1
-1

196
162
34

80
77
3

+33
+32

-36
-35
-1

-1
-1

20
10

18
17

+1

1

17

118
38
80

+2
+2

+17
+3
+14

+49
+45
+4

1

-48
-18

-6 6

COMMERCIAL BANKS
Number of banks, December 31, 1937...
Number of banks, December 31, 1936...

14,882
15,151

13,797
13,973

5,260
5,325

1,081
1,051

7,456
7,597

1,085
1,178

Net change during year........................

-269

-176

-65

+30

-141

-93

Banks beginning operations............
New banks1........................................
Closed banks reopened.................

63
62

46
46

7
7

1
1

38
38

17
16

Banks ceasing operations.................
Suspended banks not reopened or
succeeded.......................................
Restricted banks placed in receivership
Merged with aid of FDIC loans—net
decrease........................................
Others mergers, consolidations, and
absorptions—net decrease.............
Other liquidations2.............................

333

256

74

20

162

77

55
3

50

2

2

46

5
3

Trustcompanynot engaged in deposit
banking admitted to F.R.System
Changes in classification: non­
insured to insured..................
Insured State banks succeeding
noninsured banks*......................
Noninsured banks admitted to F. R.
System........................................
Admitted to insurance:
Banks regularly operating at be­
ginning of year........................
Banks formerly operating under
restrictions..............................




1

1

20

20

7

1

12

174
81

150
36

57

14
3

79
25

24
45

1

1

1

+35

+3

+32

-35

+7

-7

8

+7
+3

-3

+3

+23

+23

-23

+2

+2

-2

NUMBER OF BANKING OFFICES
T a b le 102. A nalysis OP CHANGES IN NUMBER AND CLASSIFICATION OP
B anking Offices in the U nited States and P ossessions D uring 1937— Cont’d
Insured
Total

Total

Members F. R.
System
National

State

Not
Nonmembers insured
F. R.
System

COMMERCIAL BANKS—Cont’d.
Changes in classification: inSt?red to nnrfirisiirad...............
Noninsured bank succeeding na-

-2

-1

-1
-1

-1

Changes in classification among
insured banks..........................
National banks succeeding State
banks4 .........................................
Insured State banks succeeding
national banks5...........................
Insured banks admitted to F. R.

-1

+2

-1

+1
+1

+3

+45

+19

-7

-1 2

-16

+2

+14

+56

-56

Withdrawals from F. R. System ............. .............

-6

Successions and reopenings not
involving changes in number
or class.......................................
Banks suspended and reopened®
Restricted bank placed in liquida­
tion and succeeded...................
Successions not involving changes
in classification7 ..........................

-48

+6

3

17

4

1

1

1

2

16

2

899
870

104

+29

-3
1
1

1

BRANCHES OF COMMERCIAL BANKS
3,482
3,365

3,381
3,261

1,488
1,408

Net change during year........................

+117

+120

+80

Branches opened for business.........
New branches established8 ................
Banks converted into branches as
result of mergers, consolidations,
and absorptions..........................

183
93

Number of branches, December 31, 1937
Number of branches, December 31, 1936

Branches ceasing operations...........
Branches of banks suspended.........
Branches discontinued......................
Changes in classification: non­
insured to insured..................
Branches of banks admitted to in­
surance .......................................
Changes in classification among
Insured hanks..........................
Branches of State banks succeeding
national banks............................
Branches of national banks suc­
ceeding State banks.........
Branches of insured State banks
admitted to F. R. System..........
Branches transferred as result of
mergers, consolidations, or ab­
sorptions .....................................
Changes not involving number or
classification............................
Branches transferred as result of
mergers, consolidations, or ab­
sorptions ...................... .............




994
983
+11

182
92

85
29

17
6

80
57

90

90

56

11

23

66

63
3
60

19

10

19

io

34
3
31

101

3
63

3
3

+1

+1

-1

+1

+1

-1

+14

+4

-2

+2

+7

-18

-7
+11

+9

-1 1

-2

-7

1

5

1

5

FEDERAL DEPOSIT INSURANCE CORPORATION

72
T a b le 102.

ANALYSIS OF CHANGES IN NUMBER AND CLASSIFICATION OF

B a n k in g O f f ic e s

in t h e

U n it e d S t a t e s

and

P ossession s D u r in g

1937—Cont’d

Insured

Total

Total

Members F. R.
System
National

State

Not
Non­
members insured
F. R.
System

MUTUAL SAVINGS BANKING
OFFICES
Number of offices, December 31, 1937...
Number of offices, December 31, 1936...

66
8

Net change during year........................

-1

687

63
63

63
63

623
624

-1

MUTUAL SAVINGS BANKS
56
56

Number of banks, December 31, 1937...
Number of banks, December 31, 1936...

562
563

Net change during year........................

-1
-1

-1

124
124

117
117

+3

+3

Banks ceasing operations—absorbed

56
56

506
507

-1

BRANCHES OF MUTUAL SAVINGS
BANKS
Number of branches, December 31, 1937
Number of branches, December 31, 1936
Net change during year...
Branches established ..
Branches discontinued.

—
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 o f 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, 1 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 1 newly chartered
bank resulting from consolidation.
‘ Includes 1 suspended insured bank reopened with the aid of a loan by FDIC.
Uncludes 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.
Back figures—See the following Annual Reports: 1936, pp. 102-04; 1935, pp. 144-46; 1934, p. 177.




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

All banking offices
Total

Insured Non­
insured

Total

Commercial banking offices
Insured
Members F. R.
Not
System
members Non­
Total
F. R. insured
National State System
2,075
1,081
922
159
994

8,355
7,456
6,926
530
899

1,186
1,085
1,046
39

United States.............................................. 18,958 17,234
All banks.................................................... 15,410 13,849
Unit banks............................... .............. 14,420 12,962
Banks operating branches......................
990
887
Branches.................................................... 3,548 3,385

1,724 18,272 17,171
1,561 14,848 13,793
1,458 13,935 12,910
103
913
883
163 3,424 3,378

6,748
5,260
5,06^
196
1,488

2,075
1,081
922
159
994

8,348
7,452
6,924
528
896

1,055
1,025
30
46

7
4
2
2
3

85
30
21
9
55

140
126
125
1
14

9
9
9

Possessions..................................................
All banks....................................................
Unit banks.............................................
Banks operating branches......................
Branches....................................................

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

229
208
205
8

9
9
9

238
217
214
3

229
208
205
3

Arizona.....................................................
All banks................................................
Unit banks..........................................
Banks operating branches..................
Branches................................................
Arkansas..................................................
All banks................................................
Unit banks.........................................
Banks operating branches..................
Branches.................................................




72
66

65
1

17
16
15
1

21

21

21

21

6

1

37

37

37

37

12

12

12

12

25
5

2
2

8
4
25

8
A
25

236

227

221

207
14
15

212

198
14
15

8
4
25
9
9
9

8
L
25

236

227

221

207
14
15

212

198
14
15

s

2

2

20

51
50
49
1

8

1

1

7
6
1

101

1 ,1 0 1

562
485
77
124

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

10.7
5.1
5.6

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

10.7
5.1
5.6

7.6

7.6

1 1 .8

1 1 .8

8.7
18.2
5.2

8.7
18.2
5.2

96.2
95.9
95.8
100.0

96.2
95.9
95.8
100.0

1 0 0 .0

10

1 0 0 .0

1 0 0 .0
1 0 0 .0

5
3
2
5

168
155
143
12
13

686

1 0 0 .0
1 0 0 .0

100.0
100.0
1 0 0 .0

9
9
9

100.0
100.0
1 0 0 .0

96.2
95.9
95.7
100.0

96.2
95.9
95.7
100.0

1 0 0 .0

1 0 0 .0

9.2
1 0 .0

9.2
1 0 .0

OFFICES

6,748
5,260
5,064
196
1,488

...
Com- Mutual
Non­ . , . mercial savings
insured banking bankincr banking
offices offices offices

O BANKING
F

1,809 18,364 17,178
1,591 14,882 13,797
1,479 13,958 12,912
112
885
924
218 3,482 3,381

Total Insured

NUM
BER

United States and possessions—tota l........ 19,050 17,241
All banks........................................................ 15,444 13,853
Unit banks................................................. 14,44* 12,964
Banks operating branches.......................... 1,001
889
Branches........................................................ 3,606 3,388

Mutual savings banking Insured banking offices
offices
as percent of—

Table 103.

N umber

of

Operating B anking Offices, D ecember 31, 1937— Continued

INSURED AND NONINSURED OFFICES GROUPED BY CLASS OF BANK AND TYPE OF OFFICE IN EACH STATE AND IN THE POSSESSIONS

All banking offices
Insured Non­
insured

Total

1,067

1,059

1,067

1,059

854

171
35

177

Branches..............................

177
36

171
35

Unit banks .................
Banks operating branches .

Colorado................................
All banks.............................

147

147

U7

206

853

138

213

8
6

854

7

71
18

93

14
7

853

681

134

78
78

99.3
96.7

99.3
96.7

38

99.9

99.9

93.9
93.9

93.9
93.9

53.1

82.7

7

1
2

524

714

85.2
83.3

57

35

91.9

96.6

138
138

10
1

133

10
1

98
5

115

1
0

98
5

138

78

1
0
1
0
1
0

50
50

50

96.6
97.2

93.9

96.6
97.2

93.9

Branches..............................
Connecticut..........................
All banks.............................

Unit banks .................
Banks operating branches .

Branches..............................

Delaware................................
All banks.............................

Unit banks .................
Banks operating branches.

Branches..............................
District of Columbia..........
All banks.............................

Unit banks .................
Banks operating branches.

Branches..............................
Florida...................................
All banks.............................

Unit banks .................
Banks operating branches .

Branches..............................




207

7

11
2
6
1
2

62

57

59

41
7

8
8
6

40

194

187
7
13

48

14

52

103

44

13

52

46

6

13

52

46
44

103

43

44

24

26

17

4
5

5
4

10
0 .0
10
0 .0
10
0 .0
10
0 .0
10
0 .0

10
0 .0
10
0 .0
10
0 .0
10
0 .0
10
0 .0
10
0 .0
10
0 .0

96.9

96.9

13

2
2
1
1
1
1

2
2
1
1
1
1

2
2
1
1
1
1
30

30

17

163

158

163

158

53

160

158

160

158

53

30
161

1
2

30

158

161

1
2

158

58.3

91.7

6

52

53.8

85.1

2
0
4
1
1

38

2
2
1
1
1
1

53.1

9

53

9

8
11
0
11
0
11
0

92.7
85.7
92.9

98.1

98.8

95.7

95.0

98.1

98.8

CORPORATION

89

147

147

127

784
103

147

138

138

148

206

...
Com- Mutual
.1.
Non­ , A 1 Imercial |savings
banking banking banking
insured offices offices offices

INSURANCE

Unit banks .................
Banks operating branches .

213

Total Insured

DEPOSIT

California..............................
All banks.............................

Mutual savings banking Insured banking offices
offices
as percent of—

FEDERAL

Total

Commercial banking offices
Insured
Members F. R.
Not I __
members . NonSystem
p r insured
Total
National State System

Georgia..................................
All banks.............................
Unit banks.......................
Banks operating branches.
Branches..............................

372
346
885

1
1

287
264
255
9

372
346
885

Idaho......................................
All banks.............................
Unit banks......................
Banks operating branches.
Branches..............................

83
52

81
50

83
52

26

U
6
6

1
1

190
187
18U

81
50

36

23

20

10

2
2
2
0
19
1
2

U
6
6

U
6

9
1
13

77.2 !
76.3
76.1
81.8
88.5

8
3

77.2
76.3
76.1
81.8
88.5
97.6
96.2
95.7
100.0

1 0 0 .0

1 0 0 .0

98.2
98.2
98.2

98.2
98.2
98.2

74
74
7U

468
468

A8
6

16
16

33
32
81

538
483
U9

134
126
120
6

26
14
18
1

32
31

1
1

570
514
U
79
85
56

94.3
93.8
98.6
97.1
98.2

94.4
94.0
98.7
97.1
98.2

814
669
560
109
145

727
589
U85

89.3

8 8 .0

86.6
95.U
95.2

8 8 .0

1U
0

87
80
75
5
7

89.3

111

138

87
80
75
5
7

86.6
95.U
95.2

691
691
691

457
457
U57

234
234
28k

691
691
691

457
457
U57

186
186
186

17
17
17

254
254
25U

234
234

6 6 .1
6 6 .1

6 6 .1
6 6 .1

453
424

408
379
865

453
424

408
379
865

14

29

117
99
96
8
18

10
2

277
268
259
9
9

90.1
89.4
89.0
100.0

90.1
89 4
89.0
100.0

1 0 0 .0

1 0 0 .0

198
145
118
27
53

57
30
2U
6
27

6

134
109
89

99.0
98.6
98. S
100.0

1

25

99.0
98.6
98.8
100.0

Indiana..................................
AlHbanks.............................
Unit banks.......................
Banks operating branches.
Branches..............................

575
519

542
487
U
58

Iowa........................................
All banks.............................
Unit banks.......................
Banks operating branches.
Branches..............................

814
669
560
109
145

Kansas...................................
All banks.............................
Unit banks.......................
Banks operating branches.
Branches..............................

m
85
56

M
0
1
U
29

20
0
147
10
2
27
53

8
U
55

727
589
U85

1k
0

U
29

198
145
118
27
53

U0
1
1
U
20
0
147
10
2
27
53

8t
J
55

8

12

378
343
816
27
35

111
111

31
31
81

585
447
81*8

138

1
U

10U
138

12

2

7
5
1

2
0

1
6

8
0
1
1

2b
8

66.1

80.0
80.0
80.0

OFFICES

314
314
81U

31

66.1

1 0 0 .0

1 0 0 .0
1

O BANKING
F

31

856
856
856

31

856
856
856

NUMBER

97.6
96.2
95.7
100.0

872
872
872

31




28
23
20
8
5

16
U
16

872
872
872

Louisiana...............................
All banks.............................
Unit banks.......................
Banks operating branches.
Branches..............................

69
54
51
8
15

26

U
6

Illinois....................................
All banks.............................
Unit banks.......................
Banks operating branches.
Branches..............................

Kentucky...............................
All banks.............................
Unit banks.......................
Banks operating branches.
Branches..............................

287
264
255

,

Table 103.

N umber O Operating B anking Offices , D ecember 31, 1937— Continued
P

INSURED AND NONINSURED OFFICES GROUPED BY CLASS OF BANK AND TYPE OF OFFICE IN EACH STATE AND IN THE POSSESSIONS

All banking offices
Total

Unit banka ................................
Banka operating branches ...............

Branches.................................................

Total Insured

Com­ Mutual
All
Non­ banking mercial savings
insured offices banking banking
offices offices

102

119
67

42
35

127
70

113
61

43
39

31
5

39
17

6
6

17.6
18.8

2U
2

68.8
72.7

90.0
80.0

22

5

80
2

20.0

26

5
u

6

4

8
9

73.9
65.7

89.0
87.1

U5
16

1
u

28
26

29
6

50
20

34
32

51
16

86
8

14
9

80
22

2

8 8 .1

91.2

287
195

259
183

28

257
181

70
63

55

2
2

2
2

26

11

132
107

28

12

259
183

10
2

158
28

61
2

5
6

92
15

99.2
98.9

7.1
16.7

160
28

2

10
2

2

8
2

90.2
93.8

9S.8
100.0

20.0

161
59

52

7

57

52

2

12

10

170
25

Branches.................................................

92

160
28

76

16

7

44

25

16

16

82.6

Massachusetts.........................................
All banks................................................

539
392

308
194

231
198

314
199

308
194

190
127

66

6

158
hi

109
18

15
1U

225
193

29
9

5

169
2U

169
2U

57.0
49.5

m
2h

158
Ul

225
193

827
65

158
U
1

52
38

Unit banks ................................
Banka operating branches..............

Branches.................................................
Michigan..................................................
All banks................................................

Branches.................................................
Minnesota................................................
All banks................................................

Unit banka ................................
Banka operating branchea..............

Branches ...............................................
Mississippi...............................................
All banks................................................

Unit banks ................................
Banka operating branchea..............

Branches.................................................

Missouri....................................................
All banks................................................

Unit banka ................................
Banka operating branchea ..............

Branches.................................................




114

33

115

76

114

63

42
39

639
477

597
438

139
83

86
8

U29
U8

898
U5

70
18

639
477

597
438

U29
U
8

898
U
5

694
688

656
650

38
38

693
687

686
2

6U8
2

88

685
2
6

6

252
208

240
196

12

18U
2U

172
2h

37

174
118

5

14

1

284
237

162

159

6

6

252
208

240
196

18U
2k

172
2U

3

44

162

44

44

159

655
649

6U7
2

44

56

107
11

216
21

56

86
8

47

38
38

U2

88

26
25

3
3

211

12
12

2U
1

8

1U5
28

12

650
650

607
607

86
86

650

607

1*8

650

607

86

168
43

1

43
43

96.8
100.0

93.4
91.8

77.0

91.6
98.8

99.1

91.6
98.8

55
55

466
466

55

U66

43
43
us

98.1
1
1

1
1

1

1

98.1

94.5
94.5

94.5
94:5

1 0 0 .0
1 0 0 .0

9h.5
100.0

9 b.5
100.0

100.0

1 0 0 .0

95.2
94.2

95.2
94.2

98.4
100.0

98.U
100.0

1 0 0 .0

442
442

12

607
607

32

1 0 0 .0

12
12

198
2

650
650

32

3

201

195

98.1
97.5

U6.9
62.1

93.4
91.8

42
39

6

12
12

29

1 0 0 .0

1 0 0 .0

93.4
93.4

93.4
93.4

98.U

98.U

CORPORATION

Unit banks ................................
Banks operating branches..............

147

76

9U.1
92.0

INSURANCE

Unit banks ................................
Banks operating branches ..............

DEPOSIT

Maryland..................................................
All banks................................................

Total

Mutual savings banking InsuredLbanking offices
offices
as ]percent of—

FEDERAL

Maine........................................................
All frank??, . , . T........... . . . .....................

Insured Non­
insured

Commercial banking offices
Insured
Members F. R.
Not
System
members Non­
Total
F. R. insured
National State System

115
115
115

115
115
115

Nebraska................................
All banks.............................
Unit banks.......................
Banks operating branches.
Branches..............................

433
431
U29
2
2

375
373
371
2

Nevada...................................
Ail banks.............................
Unit banks.......................
Banks operating branches.
Branches..............................

20

9
7
2

43
43
us

24
24
2U

58
58
58

433
431
429
2
2

375
373
371
2
2

138
136
13U
2
2

12

1
1

20
9
7
2
11

19

16
5
3
2

11

11

66

64
62
2
2

57
56
55
1
1

53
52
51
1
1

1

503
383
331
52

496
376
32U
52

120

1 20

261
229
212
17
32

117
54
31
23
63

118
93
81
12
25

22
22

4
4
u

20

2

19
8

6
2

1

11

11

111

57
56
55
1

54
52
50
2

1

2

New Hampshire....................
All banks.............................
Unit banks.......................
Banks operating branches.
Branches..............................

108
105
3
3

New Jersey............................
All banks.............................
Unit banks.......................
Banks operating branches.
Branches..............................

532
408
353
55
124

512
390
336
5U

New M exico...........................
All banks..............................
Unit banks.......................
Banks operating branches.
Branches..............................

47
41
37
U

46
40
36
U

6

6

New Y ork...............................
All banks.............................
Unit banks.......................
Banks operating branches.
Branches..............................

1,587
901
776
125

1,386
747
660
87
639

686

North Carolina.....................
All banks..............................
Unit banks........................
Banks operating branches.
Branches..............................

345
235
19U
hi

North Dakota........................
All banks..............................
Unit banks........................
Banks operating branches.
Branches..............................

2 01




110

187
175
12
14

122

336
228
188
uo
108
187
173
161
12
14

10 10
0 .0 0 .0
10 10
0 .0 0 .0
10 10
0 .0 0 .0

20

18
17
1
2

8

6
2

48
48
U
8

1
1

225
225
225

8 .6
6

58
58
58

3
3
3

12
12

1

3
3
3

86.5
86.5

8

7
1
1
7
7
7

86.5
86.5

10 10
0 .0 0 .0
10 10
0 .0 0 .0
95.0
88.9
85.7

1
1

9

8 .6
6

95.0
88.9
88.7

51.4
51.9
524

86.4
87.5
88.7
50.0
50.0

10 10
0 .0 0 .0
10 10
0 .0 0 .0
45
44
U
3
1

45
44
U
S
1

1

1

29
25
22
3
4

16
14
12
2
2

13

5 .3
5
33.3

10
0 .0
10
0 .0

97.9
97.6
97.3

11

10
1
2

96.2
95.6
95.2
98.2
98.4

97.9
97.6
97.3

87.3
82.9
85.1
69.6
93.1

98.4
97.1
97.1
97.7

10
0 .0

98.6
98.2
97.9

2 01

154
116
38
47
9
7
6

1
2
14
14
lh

47
41
37
U

46
40
36
U

6

1
1

1

6

1,405
767
679
88
638

1,383
745
659
86
638

631
443
U
15
28
188

508
124
8U
uo
384

244
178
160
18

345
235
194
U
l

336
228
188
U
O
108

49
43
U
l
2

16
9
7
2
7

271
176
1U0
36
95

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

187
173
161
12
14

55
55
55

132
118
106
12
14

14
14
1U

93.0
92.5
92.0

93.0
92.5
92.0

110
201

187
175
12
14

22

14
10
u

1
1

1

10 10
0 .0 0 .0
10 10
0 .0 0 .0

6

6

22
22

20
2

66

55.2
56.0
5U.5
66.7
50.0

182
134
97
37
48

3
2

1
1
1

179
132
96
36
47

10 10
0 .0 0 .0
10 10
0 .0 0 .0

1
.6
1.5
1
.0
2.7
2
.1

OFFICES

115
115
115

O BANKING
F

115
115
115

NUMBER

M ontana................................
All banks..............................
Unit banks.......................
Banks operating branches.
Branches..............................

Table 103.

N umber

of

Operating Banking Offices, D ecember 31, 1937— Continued

INSURED AND NONINSURED OFFICES GROUPED BY CLASS OF BANK AND TYPE OF OFFICE IN EACH STATE AND IN THE POSSESSIONS

All banking offices
Total

Non­
Insured insured

19
19
19

384
384
88U

16
16
16

400
400
UO
O

384
384
38U

216
216
216

5
5
5

163
163
168

140
74
70
L

2

141
75
71
A

139
73
69
L

5
5
5

42
40
38
2
2

2

1

1
2
2
2

142
76
72
L

Pennsylvania...........................................
All banks................................................
Unit banks..........................................
Banks operating branches
Branches
.. . .
..

1,218

Rhode Island
....................................
All banks
.. . ............
Unit banks . .
..........................
Banks operatinQ branches
Branches
....................................




.

49
32
26
6
17

1,198
1,095
1,050
U
5
103

1,167
1,068
1,025
us
99

738
697
678
19
41

119
78
65
18
41

310
293
282
11
17

31
27
25
2
4

20

1,053
U
9
116

1,169
1,070
1,027
U
S
99

72
32
20
12
40

44
16
10
6
28

28
16
10
6

61
23
12
11
38

44
16
10
6
28

20
12

21
2

3

11

8

2
19

17
7
2
5

2

173
150
1U8
7
23

134

39
39
89

173
150
1U
8
7
23

134

35

•

South Carolina
All banks
Unit banks
•
Banks operating branches
Branches

66

92
28
26
2
64

,,, ,
.,,

203
181
172
9

1
1

203
181
172
9

• ....

22

66

1 ,1 0 2

2

2

66

66

1 11

10A
7
23
202

180
171
9
22

12

1

22

111

9
S

20

10U
7
23

19
1
15

202

64
47
us
L
17

180
171
9
22

5
4
8
1
1
21
21

21

2

1
1

2
2

98.6
97.3
97.2
100.0

10

39
39
39

117

1
1

1

7
8
A
13
9
8
1

96.0
97.1
97.5
87.8
85.3

97.4
97.5
97.6
95.6
96.1

11

61.1
50.0
50.0
50.0
70.0

72*1
69.6
83.8
5U.5
73.7

77.5
74.0
72.7
100.0

77.5
74.0
72.7
100.0
1 0 0 .0

99.5
99.4
99.U
100.0

99.5
99.4
99.U
100.0

1 0 0 .0

1 0 0 .0

1 0 0 .0
1 0 0 .0

100.0

1 0 0 .0

18
5
1
U
13

1 0 0 .0

1

112

1
1

1 0 0 .0

94
87
82
5
7
107
5
5

1
1

96.0
96.0
96.0

1 0 0 .0
1 0 0 .0

100.0

9
8
1
2

1 0 .0

28.6
66.7

CORPORATION

Oregon......................................................
All banks .................................................
Unit banks..........................................
Banks operatinQ branches
Brancbes

3
3
3

1 0 0 .0

98.6
97.4
97.2
100.0

16
16
16

3
3
8

INSURANCE

385
362
8U6
16
23

DEPOSIT

195
78
65
18
117

688

FEDERAL

283
248
2U0
8
35

691
65U
87
175

97.8
97.3
97.2
100.0

96.0
96.0
96.0

651
87
175

97.9
97.3
97.2
100.0
1 0 0 .0

863

400
400
uoo

finnth Dakotfi
All banks
Unit banks
Banks ojjeratinQ branches
Branches

Com­ Mutual
All mercial savings
Non­
Total Insured insured banking banking banking
offices offices offices

882
707
670
87
175

866

Unit banks

Mutual savings banking Insured banking offices
as percent of—
offices

19
19
19

885
710
678
87
175

O hio...........................................................

Total

Commercial banking offices
Insured
Not
Members F. R.
Non­
members insured
System
Total
F. R.
National State System

Tennessee..............................
All banks..............................
Unit banks........................
Banks operating branches.
Branches..............................

355
304
284

347
296
276

355
304

347
296
276

89
72

51

51

Texas.......................................
All banks.............................
Unit banks........................
Banks operating branches.
Branches..............................

4
17

884
884
884

793
793
793

884
884
884

793
793
793

453
453
453

289
289
289

Utah.......................................
All banks..............................
Unit banks........................
Banks operating branches.
Branches..............................

71
59
54
5

71
59
54
5

71
59
54
5

71
59
54
5

2
2
13
1
0

1
2

3
9

Vermont................. ..............
All banks..............................
Unit banks........................
Banks operating branches.
Branches..............................

105
89
80
9
16

105
89
80
9
16

87
75
67

87
75
67

44
42
40

Virginia..................................
All banks..............................
Unit banks........................
Banks operating branches.
Branches..............................

388
321
282

387
320
281
39
67

388
39
67

387
320
281
39
67

146
132
126
14

164
133
31
48

Washington...........................
All banks..............................
Unit banks........................
Banks operating branches.
Branches..............................

227
161
152
9

21
2
155
146
9

224
158
149
9

218
152
143
9

113
50
44

84
82
80

West Virginia........................
All banks.............................
Unit banks........................
Banks operating branches.
Branches..............................

184
183
182

176
175
174

184
183
182

176
175
174
1

79
79
79

78
77
76
1

W isconsin..............................
All banks..............................
Unit banks........................
Banks operating branches.
Branches..............................

711
598
524
74
113

695
583
510
73

W yoming..............................
All banks............................
Unit banks......................
Banks operating branches
Branches

58
58
58

1
2

6
6
1
1

1
2

6
6
1
1

1
2

2
0

8
1
2

6
6
1
1

8
1
2

6

6
6

1

1
0
22
1

2
2

1

12
1

707
594
520
74
113

691
579
506
73

12
1

3
13

58
58
58

58
58
58

58
58
58

26
26
26

Back figures—See the following Annual Reports: 1936, p. 105; 1935, pp. 122-131.




2
2

118
105

12
0

541
448
382

6
6

93
23
23
23

97.7
97.4
97.2

89.7
89.7
89.7

89.7
89.7
89.7

10
0 .0
10
0 .0
10
0 .0
10
0 .0
10
0 .0
10
0 .0
10
0 .0
10
0 .0
10
0 .0
10
0 .0

10
0 .0
10
0 .0
10
0 .0
10
0 .0
10
0 .0
10
0 .0
10
0 .0
10
0 .0
10
0 .0
10
0 .0

99.7
99.7
99.6

99.7
99.7
99.6

97.4
96.3
96.1

97.3
96.2
96.0
100.0

95.7
95.7
95.6

95.7
95.7
95.6

97.7
97.5
97.3
98.6
99.1

97.7
97.5
97.3
98.6
99.1

10 10
0 .0 0 .0
10 10
0 .0 0 .0

18
14
13
1
4

10
0 .0
10
0 .0
10
0 .0
10
0 .0
10
0 .0

10 10
0 .0 0 .0
10 10
0 .0 0 .0
10
0 .0
10 10
0 .0 0 .0

10
0 .0
10
0 .0
10
0 .0

OFFICES

51

2
0

97.7
97.4
97.2

O BANKING
F

51

242
218
203
15
24

6
8

NUM
BER

2
0

24
8
2
0

10 10
0 .0 0 .0
10 10
0 .0 0 .0
10
0 .0
10
0 .0
10
0 .0

10 10
0 .0 0 .0
10 10
0 .0 0 .0
10 10
0 .0 0 .0
<
1
<>
x

Table 104.

NUMBER OF OPERATING BANKING OFFICES, DECEMBER 31, 1937

INSURED AND NONINSURED OFFICES GROUPED BY CLASS OF BANK, TYPE OF OFFICE, AND AMOUNT OF DEPOSITS

Mutual savings banking
offices

Commercial banking offices

All banking offices

Insured
Insured

Total

Members F. R.
System

Total

National

State

Not
members
F. R.
System

Non­
insured

Non­
insured

63

623

17,241

1,809

18,364

17,178

6,748

2,075

8,355

1,186

686

Banking offices with deposits of — 1
$1 0 0 ,0 0 0 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

97
232

11

739
2,355
2,199

322
325
171

4
7

2

3

4

$500,000 to $1,000,000..............................
$1 ,0 0 0 ,0 0 0 to $2 ,0 0 0 , 0 0 0 ...........................
$2,000,000 to $5,000,000..........................

3,575
2,829
2,123

3,454
2,743
1,971

121
86

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

7
14
13

120

$5,000,000 to $10,000,000.........................
$10,000,000 to $50,000,000.......................
Over $50,000,000.......................................
None or not available................................

773
563

104
133
15
373

660
433

657
424
612

96
44
3
306

113
130

1

183

20

190

12
6
6

795

36
146

3
9

101

382
259
62
160

179

102

985

669
430
107
612

14,443

12,964

1,479

13,958

12,912

5,064

922

6,926

1,046

485

52

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

322
325
171

1

182

555
2,066
1,999

$500,000 to $1,000,000..........................
$1 ,0 0 0 ,0 0 0 to $2 ,0 0 0 , 0 0 0 .......................
$2 ,0 0 0 ,0 0 0 to $5 ,0 0 0 ,0 0 0 .......................

2 ,8 8 6

121
86

152

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

2,033
1,448

2,765
1,947
1,296

$5,000,000 to $10,000,000.....................
$10,000,000 to $50,000,000...................
Over $50,000,009...................................
None or not available............................

496
351
51
44

392
218
36

385
223
33
44

382
214
32

253
150
23

67
39
9

62
25

3
9

1

104
133
15
43

1

43

4,607

4,277

330

4,406

4,266

1,684

1,153

1,429

140

193
348
405

193
348
405

193
348
404

193
348
404

6

3
29
50

184
289

Unit banks...............................................
Banking offices with deposits of — 1
$1 0 0 ,0 0 0 and under................................
$100,000 to $250,000.............................
$250,000 to $500,000.............................

All offices of banks operating branches
Banking offices with deposits of — 1
$1 0 0 ,0 0 0 and under................................
$100,000 to $250,000.............................
$250,000 to $500,000.............................




1 22

152

121

1

30
154

40
32

1

200

1

4
6

2
2

1
2

21

46

101

124
14
190
433
1
2

4

27
57
133

6
11

111

10

4
4

124
14

201

11

190

128
18

i i

13

i

21

46

120
101

CORPORATION

19,050

INSURANCE

All banking offices.....................................

DEPOSIT

Insured

Total

FEDERAL

Total

Non­
insured

$500,000 to $1,000,000..........................
$1 ,0 0 0 ,0 0 0 to $2 ,0 0 0 , 0 0 0 .......................
$2,000,000 to $5,000,000.......................

689
796
675

689
796
675

688

$5,000,000 to $10,000,000.....................
$10,000,000 to $50,000,000...................
Over $50,000,000...................................
None or not available............................

277

277

212

212

328
398
331

166
269
269

194
126
75

275

275
210

69
611

129
109
39
160

112

210

82
27
146

34
19
3
305

140

190

190

196

159

530

39

77

73

1

9
60
90

71
611

330

69
751

889

12
1

793
675

885

9
61
90

9
61
90

9
61
90

$500,000 to $1,000,000..........................
$1 ,0 0 0 ,0 0 0 to $2 ,0 0 0 , 0 0 0 .......................
$2,000,000 to $5,000,000.......................

99
78
93

99
78
93

99
78
93

99
78
93

$5,000,000 to $10,000,000.....................
$10,000,000 to $50,000,000...................
Over $50,000,000...................................
None or not available............................

94

94

92

92

1 02

1 02

1 01

101

23

39
21

6
6

66

2
1
1

56
245

56
206

43
47
30
33

28
39
23
38

15
3
135

39

73

73

3,482

3,381

1,488

994

899

11
0

124

117

184
287
315

184
287
314

184
287
314

30
154

6

3
28
50

175
229

590
718
582

590
718
582

589
715
582

589
715
582

322
392
300

165
263
246

1 02

183

183
110

183
109
13
506

183
109
13
405

86

1 10

84
43
4
108

11
0

117

57
206

3,606

3,388

184
287
315

$500,000 to $1,000,000..........................
$1 ,0 0 0 ,0 0 0 to $2 ,0 0 0 , 0 0 0 .......................
$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............................

14
623 |

14

405

12
1
28
1

;

218

62
9
127

1 10

OFFICES

57
318

Branches..................................................
Banking offices with deposits of — 1
$1 0 0 ,0 0 0 and under...............................
$100,000 to $250,000.............................
$250,000 to $500,000.............................

1
6

92

31

60
36
13
4

170

1
1

117

^Deposits of insured unit banks are averages of daily figures for the year: deposits of noninsured unit banks are averages of figures for December 31, 1936, June 30, 1937,
and .December 81, 1937; deposits of all offices of insured banks operating branches are as of December 81, 1937; and deposits of all offices of noninsured banks ODeratine
branches are not available.
Back figures—See the Annual Report for 1936, p. 112.




O BANKING
F

924

9
61
90

1 ,0 0 1

NUM
BER

Head offices of banks operating
branches.......................................
Banking offices with deposits of — 1
$1 0 0 ,0 0 0 and under...............................
$100,000 to $250,000.............................
$250,000 to $500,000.............................

71
941

688

793
675

Table 105.

NUMBER OP OPERATING BANKS, DECEMBER 31, 1937

INSURED AND NONINSURED BANKS GROUPED BY CLASS OP BANK, TYPE OP BANK, AND AMOUNT OP DEPOSITS

Mutual savings banks

Commercial banks

All banks

Insured banks as
percent of—

15,444 13,853

5,260

1,081

7,456

1,085

562

598
2,560
3,306

29
392
1,006

69
183

8

561
2,099
2,117

322
326
178

20
,1 1

2,907
2,054
1,394

1,318
1,097
836

216
171
187

1,373
786
371

104
47
39

504
376

498
361
118

307

103
95
49

88

6

10
2

211

323
328
182

28
,8 6

$500,000 to $1,000,000..............
$1 ,0 0 0 ,0 0 0 to $2 ,0 0 0 , 0 0 0 ...........
$2,000,000 to $5,000,000..........

3,038
2,162
1,574

2,913
2,065
1,407

125
97
167

3,011

$5,000,000 to $10,000,000.........
$10,000,000 to $50,000,000____
Over $50,000,000........................
None or not available...............

624
538
162
45

509
367
123

115
171
39
44

14,443 12,964

3,484
1,433

12
2
45

1

64

1

15
4
44

55
5

1
6

485

5,064

922

6,926

1,046

8
68

182

555
2,066
1,999

322
325
171

915
2,855
3,364

592
2,528
3,189

323
327
175

914
2.851
3,358

592
2,526
3,187

$500,000 to $1,000,000......... .
$1 ,0 0 0 ,0 0 0 to $2 ,0 0 0 , 0 0 0 ____
$2 ,0 0 0 ,0 0 0 to $5,000,000........

2 ,8 8 6

2,033
1,448

2,765
1,947
1,296

121
86

2,759
1,936
1,283

1,314
1,087
810

215
166
168

1,230
683
305

10
0

152

2,859
1,976
1,315

27
57
133

$5,000,000 to $10,000,000___
$10,000,000 to $50,000,000. ..
Over $50,000,000...................
None or not available........... .

496
351
51
44

392
218
36

104
133
15
43

385
223
33
44

382
214
32

253
150
23

67
39
9

62
25

3
9

11
1




50.0
33.3

95.9
95.5
89.4

96.5
97.8
97.3

2 .2
2

81.6

6 .2
8
75.9
2
.2

98.8
96.0
96.7

9.2
3.7
12.5

433

89.8

92.5

10.7

64.7
88.5
94.8

64.8

8 .6
8

50.0
33.3

95.8
95.8
89.4

96.5
98.0
97.6

2 .2
2

79.4
62.1
70.6
2.3

99.2
96.0
97.0
2.3

50
128

52

1
4
6

29
392
1,006

1

65.0
88.7
94.9

4

162
40

1,479 13,958 12,912

64.9
88.7
94.8

506

1

40
32

1

43

1

i

128
18

2
1
46
10
2
11
0
124
14

2
.2

94.9

18.0
9.2

19.3
9.7
9.2
3.1

2 .2
2

CORPORATION

Unit banks..............................
Banks with deposits of — 1
$1 0 0 ,0 0 0 and under................
$100,000 to $250,000............
$250,000 to $500,000..............

920

1 .0
0

109
156
35

27
61
141

598
2,562
3,308

92.7

2
1

4

921
2,890
3,490

89.7

1
2

56

INSURANCE

1,591 14,882 13,797

Banks with deposits of — 1
$1 0 0 ,0 0 0 and under...................
$100,000 to $250,000................
$250,000 to $500,000................

1

Na­
tional

Com­ Mutual
mer­ savings
cial
banks
banks

DEPOSIT

All banks.....................................

Total

Not
All
Non­
Non­
mem­ insured Total Insured insured banks
bers
F. R.
State
System

Members P. R.
System

FEDERAL

Insured
Non­
Total Insured insured Total

Banks operating branches..........
Banks with deposits of — 1
$1 0 0 ,0 0 0 and under.................
$100,000 to $250,000...............
$250,000 to $500,000...............

1 ,0 0 1

889

6

6

35
126

34
119

$500,000 to $1,000,000............
$1 ,0 0 0 ,0 0 0 to $2 ,0 0 0 , 0 0 0 .........
$2 ,0 0 0 ,0 0 0 to $5,000,000.........

152
129
126

148
118
1 11

15

$5,000,000 to $10,000,000.......
$1 0 ,0 0 0 ,0 0 0 to $50,000,000___
Over $50,000,000 ....................
None or not available............

128
187
111
1

117
149
87

924

885

6

1 12

6

196

159

34
119

152
125
118

148
118
1 11

26

5
19

38
24

119
153
89

116
147

54
61
41

36
56
40

1

1

4
11

11

86

39

77

4

73

1
1

4
10

33
118

1

1

143
103

4
7
7

66

26
30
5

6

3

95.8
1 0 0 .0

97.1
94.4

7

3

88.7
1 0 0 .0

6

35
126

1

7

530

5.1

97.1
94.4

4

4

97.4
91.5

8

8

8 8 .8

97.4
94.4
94.1

8

90.0
79.7
78.4

97.5
96.1
96.6

9
34
22

1
2
1

32
21

9.1
5.9
4.5

1

O BANKING
F
OFFICES




NUM
BER

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 Annual Report for 1936, p. 112.

00
00

Table 106.

NUMBER OF OPERATING COMMERCIAL BANKS, DECEMBER 31, 1937

INSURED AND NONINSURED BANKS GROUPED BY AMOUNT OF DEPOSITS IN EACH STATE AND IN THE POSSESSIONS

$1 0 0 ,0 0 0
and
under

All
banks

$250,000
to
$500,000

2 ,8 8 6

Banks with deposits of— 1
$500,000 $1 ,0 0 0 ,0 0 0 $2 ,0 0 0 ,0 0 0 $5,000,000 $1 0 ,0 0 0 ,0 0 0
None or
Over
to
to
to
to
to
not
$1 ,0 0 0 ,0 0 0 $2 ,0 0 0 ,0 0 0 $5,000,000 $1 0 ,0 0 0 ,0 0 0 $50,000,000 $50,000,000 available

United States and possessions— total
Insured banks......................................
Noninsured banks................................

14,882
13,797
1,085

920
598
322

2,560
326

3,4S4
3,306
178

3,011
2,907
104

2,054
47

1,433
1,394
39

504
498
6

376
361
15

118
4

44

United States.....................................
Insured banks...................................
Noninsured banks............................

14,848
13,793
1,055

918
598
320

2,885
2,560
325

3,480
3,306
174

3,007
2,907

2,093
2,050
43

1,424
1,394
30

502
498
4

374
361
13

121

118
3

44

100

Possessions.........................................
Insured banks...................................
Noninsured banks............................

34
4
30

2

1

4

4

8

2

2

1

1

1

4

4

4
4

9

2

9

2

2

1

1

18
15
3

65
62
3

64
62

30
29

20
20

14
14

1
1

4
4

1
1

2
1
1

1

3
3

4
4

2
2

2
2

48
47

37
37

17
17

5
5

4
4

4
4

56
56

39
38

33
30
3

9
9

13

1
22
22

221
212

9
213
206
7
147
138
9
1 21

103
18
46
44

42
38
4
3

63
59
4
7

2
1
8
6
2

6
1

1

41
41

29
25
4

35
33

32
31

2
12

18
16

1
1
12
12

12
1
6
6

1
1

161
158

4
3

8

7
5

6
1

11
10
1

7

1

92
42
50

28
28
85
69
16

36
36
70
68
2

27
23
4
5
5

29
27

15
14

11

9

1
1

2
6
6

1
2
2

2
2
2

1
1

3
3

3
3

7
7

6
6

2
2

34
33

33
32

11
11

8
8

7
7

1

6
1

2
11
11
1
1

1
1
1
1

2
22
22

346
264
82

4
4

1

43

1

7

10
10

1

CORPORATION




12
12

45

1

42
40

24
24

14
14

3
3

2
2

2

2
2
12

INSURANCE

Connecticut....................................
Insured banks...............................
Noninsured banks.........................
Delaware.........................................
Insured banks...............................
Noninsured banks.........................
District of Columbia....................
Insured banks...............................
Noninsured banks.........................
Florida.............................................
Insured banks..............................
Noninsured banks.........................
Georgia............................................
Insured banks...............................
Noninsured banks.........................

217
208
9

12 2

DEPOSIT

State
Alabama..........................................
Insured banks...............................
Noninsured banks........................
Arizona............................................
Insured banks...............................
Noninsured banks.........................
Arkansas.........................................
Insured banks...............................
Noninsured banks.........................
California........................................
Insured banks...............................
Noninsured banks.........................
Colorado..........................................
Insured banks...............................
Noninsured banks.........................

2 ,1 0 1

FEDERAL

$1 0 0 ,0 0 0
to
$250,000

12

52
50
2

872
856
16
514
483
31
669
589
80
691
457
234

Michigan.........................................
Insured banks...............................
Noninsured banks.........................
Minnesota.......................................
Insured banks...............................
Noninsured banks........................
Mississippi......................................
Insured banks...............................
Noninsured banks.........................
Missouri..........................................
Insured banks...............................
Noninsured banks........................
M ontana.........................................
Insured banks...............................
Noninsured banks.........................




2

70
61
9
183
181

94
24
70

161
158
3
106
92
14
143
119
24
252
154
98

38

1 11

10

7
3
14
4

10

20

18
6

5

98
13
17
17

1

210

206
4
152
142
10

109
108

89
87

2

1

79
78

44
43

2

1

1
22
21
1

83
74
9
44
44

61
60

13

17
16
1

11

90
73
17

93
89
4
56
49
7

1

26
26

1
1

3
3

10
10

477
438
39
687
649
38
208
196

6

11
2

20

13

12
10
2
100

82
18
3
3

201

183
18
23
23

144
135
9
230
226
4
55
53
2

141
136
5
36
36

2
2

40
40
9
9

24
24

25
25

3
3

4
4

21
21

5
5

5

1

6

I

7
7

6
6

5

21

9
8
1

3
3

2

19

36
36

17
17

9
9

32
31

38
38

64
62

27
27

109
107
2

144
141
3
49
45
4
96
94

2

6

I
A
4
4

\
I

8
6
2

1
1

19
17

5

5

2
21
21

10
10

A
*
4

5
5

4
4

3
3

13
13

6
6

1
1

47
47

34
34

17
17

9

5

9

5

10
10

12
12

3
3

2
2

59
56
3
61
59

46
45

2

1

29
28

1

26
25

1

2

26
26

5
5

11
11

41
41

1

71
57
14
181
166
15
43
40
3

2
2

15
15
g
5

1

199
194
5

3
3
33

2

98
96

98
94
4
34
33

25
25

650
607
43
115
115

205
203

162
151

2
2

12

1

215
189
26
167
125
42

7
4
3
44
44

2

5
4

15
15

i
7

OFFICES

424
379
45
147
145

29
25
4

12
12

4
3
1

9
9

O BANKING
F

K entucky........................................
Insured banks...............................
Noninsured banks.........................
Louisiana........................................
Insured banks...............................
Noninsured banks.........................
Maine...............................................
Insured banks...............................
Noninsured banks.........................
Maryland........................................
Insured banks...............................
Noninsured banks.........................
Massachusetts................................
Insured banks...............................
Noninsured banks.........................

3
3

NUM
BER

Idaho................................................
Insured banks...............................
Noninsured banks.........................
Illinois.............................................
Insured banks...............................
Noninsured banks.........................
Indiana............................................
Insured banks...............................
Noninsured banks.........................
Iow a.................................................
Insured banks...............................
Noninsured banks.........................
Kansas.............................................
Insured banks......................... .
Noninsured banks.........................

Table 106.

N umber

of

Operating C ommercial B anks , D ecember 31, 1937— Continued

INSURED AND NONINSURED BANKS GROUPED BY AMOUNT OF DEPOSITS IN EACH STATE AND IN THE POSSESSIONS

50
26
24

163
138
25

121
114
7

767
745

1

64
56
8

383
876
7
41
40

26
26

1
1
1
1

1
29
26
3
52
51

57
56

22
21

3
3

1
0

3
3

1

1

2
1

18
3
73
71
2

1
0
9
1

114
113

1

10

1
0
9
1

94
94

36
36

30
29

152
147
5
19
18

59
59

36
35

11

1

11

175
173

175
173

58
57

35
35

41
41

42
40

10
10

10

80
71
9
126
117
9

172
165
7
119
118

191
190

125
125

82
82

55
55

32
32

2
0
2
0

75
73

2
1
2
1

18
18

18
18

1,095
1,068
27
23
16
7

50
48

160
157

270
262

249
246
3
5

238

235
228
7
187
173
14
707
688

19
400
384
16
2

6

17
14
3
47
38
9
5
3
2

38
32

6

1
70
6
8
2

2

1

2

1

2

1

8

3
3

10

1

4

1
6
6

1

1
5
5

32
29
3
2
2

CORPORATION

103
103

2
2

1

27
27

16
16

64
63

38
37

2
2

4

1

1

2
2

INSURANCE

New Y ork..............
Insured banks
Noninsured banks,
North Carolina. ..
Insured banks
Noninsured banks,
North D akota........
Insured banks
Noninsured banks.
O hio.......................
Insured banks
Noninsured banks.
Oklahoma.............
Insured banks. . ..
Noninsured banks,

2

1
1
1
2
1
1
1

8

Banks with deposits o f$1,000,000 $2,000,000 $5,000,000 $10,000,000
None or
Over
to
to
to
to’
not
$1,000,000 $2,000,000 $5,000,000 $ 10, 000,000 $50,000,000 $50,000,000 available
$500,000
to

DEPOSIT

431
373
58
9




$250,000
to
$500,000

and
under

Nebraska...............
Insured banks_
_
Noninsured banks
Nevada...................
Insured banks___
Noninsured banks,
New Hampshire. . .
Insured banks
Noninsured banks
New Jersey............
Insured banks. .. .
Noninsured banks
New M exico..........
Insured banks
Noninsured banks,

O regon...................
Insured banks
Noninsured banks.
Pennsylvania........
Insured banks
Noninsured banks
Rhode Island........
Insured banks
Noninsured banks.

$100,000
to
$250,000

FEDERAL

$100,000

All
banks

14
14

Tennessee...............
Insured banks. . . .
Noninsured banks.
Texas........................
Insured banks. . . .
Noninsured banks.
U tah.........................
Insured banks. . . .
Noninsured banks.
Verm ont..................
Insured banks. . . .
Noninsured banks.
Virginia...................
Insured banks. . . .
Noninsured banks.

304
296

39
181
180

1

8

884
793
91
59
59

41
16
25
27
27

30
23
7
83
83

35
32
3
39

35
32
3
87
61
26

97
94
3
212
188
24

8
8

75
75

15
13

14
13

1
1
1
1

67
67

51
50

31
30

1
0
1
0

234
219
15
18
18

172
161

74
73

49
47

14
14

9
9

2
2
2

17
17

1
1

17
15

15
15

2
1
2
1

17
17

2
1
1

1
1

1
1

321
320

46
46

75
75

85
85

62
62

31
30

45
43

35
35

13
13

43
42

52
50

31
31

24
23

145
142
3
15
15

98
98

45
44

1
2
i2*

1
0
9
1

171
164
7
19
19

2
2
2
2

31
31

158
152

2
0
2
0

1

6

183
175

8

594
579
15
58
58

1
2
2

1
1
0
8
2
4
4

19
3
107
105

2
5
5

2
1

2

1
1

1
1
1
1

5
5

^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 De­
cember ol, 1937.
Back figures—See the following Annual Reports: 1936, page 114; 1935, page 132.




OFFICES

W ashington............
Insured banks. . . .
Noninsured banks.
West Virginia.........
Insured banks. . . .
Noninsured banks.
W isconsin...............
Insured banks. . . .
Noninsured banks.
W yom ing.................
Insured banks.......
Noninsured banks.

111

O BANKING
P

150

NUM
BER

South Carolina. . . .
Insured banks. . . .
Noninsured banks.
South D akota........
Insured banks. . . .
Noninsured banks.

00

Table 107.

NUMBER OF OPERATING MUTUAL SAVINGS BANKS, DECEMBER 31, 1937

INSURED AND NONINSURED BANKS GROUPED BY AMOUNT OF DEPOSITS IN EACH STATE

Banks with deposits of—




$250,000
to
$500,000

$500,000 $1,000,000 $2 ,000,000 $5,000,000 $10,000,000
Over
to
to
to
to
to
$50,000,000
$1 ,000,000 $2 ,0 0 0,000 $5,000,000 $10,000,000 $50,000,000

27

6
2
1

1
1

50

73

141
13
128

120

162

109

156

2
1
2
1

61

18

40
5
35

19

18

1
1

6

1

2

5
4

1
6

1
2
2
1
0
1

32
26
12

2
1
0
193
193

1
1

44
25
14

1
1
2

134
132

1
1
2
i2
1
1
1
1
2
1
1
6

CORPORATION

Massachusetts.......
Insured banks. . . .
Noninsured banks.
Minnesota...............
Insured banks. . . .
Noninsured banks.
New Hampshire. ..
Insured banks. . . .
Noninsured banks.
New Jersey..............
Insured banks. . . .
Noninsured banks.
New Y ork................
Insured banks.......
Noninsured banks.

562
56
506

$100,000
to
$250,000

INSURANCE

State
Connecticut...........
Insured banks. . . .
Noninsured banks.
Delaware.................
Insured banks. . . .
Noninsured banks.
Indiana...................
Insured banks. . . .
Noninsured banks.
Maine.......................
Insured banks. . . .
Noninsured banks.
Maryland................
Insured banks. . . .
Noninsured banks.

and
under

5

56

52

56

56

*52'

*56'

4

4
9
5
4
58

17
17
3

2
1
2
1
2
1

8

4
4
26

DEPOSIT

United States— to ta l.
Insured banks..........
Noninsured banks...

$100,000

1

FEDERAL

All
banks

58

1
2
2
1
23

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 118; 1935, page 140.

OFFICES




O BANKING
F

Washington............
Insured banks. . . .
Noninsured banks.
Wisconsin...............
Insured banks. . . .
Noninsured banks.

NUM
BER

O hio.........................
Insured banks. . . .
Noninsured banks.
Oregon.....................
Insured banks. . . .
Noninsured banks.
Pennsylvania..........
Insured banks. . . .
Noninsured banks.
Rhode Island.........
Insured banks. . . .
Noninsured banks.
Verm ont..................
Insured banks. . . .
Noninsured banks.

00

<>
x

Table 108.

N u m b e r OP COMMERCIAL BANKS OPERATING BRANCHES AND NUMBER OF BRANCHES IN CONTINENTAL UNITED STATES,
D e c e m b e r 31, 1937
GROUPED ACCORDING TO CHARACTER OF BRANCH SYSTEM, LOCATION OF BRANCHES, POPULATION OF CENTER IN WHICH LOCATED, AND BY STATE
Location of branches

Character of branch system

In centers with population of—
Under 250.............................................
250 to 500.............................................
500 to 1,000..........................................

913

285

29
62

36
55

88

122

10.000 to 25,000.
25.000 to 50,000.
50.000 and over.,

69
57
340

3,424

1,640

14
24
238

27
14
51

151
105
1,803

4

21
25
15
*857

1

17

10

2
2
11

80
158
159

40
84
127

2

117
60
44

219
151
115

17
40
1,572

39

95
45
180

12

5
4

20

44
5
7

237

10

85

4
2

13
30

30

26

'io'

2

29

31
35
109

11

74

1

35

13
17
5
532

56
145

24

31
105

1

40

Outside
head
office
State

CORPORATION

28
19
47
2

1,056

120

216
163

Elsewhere Elsewhere
in head
in head
office
office
county
State
721

242
286

29
19
14

10

Connecticut..............
Delaware...................
District of Columbia.
Florida......................
Georgia.....................




7
26

In head
office
city

71
34

95
51

State
Alabama..
Arizona. ..
Arkansas..
California.
Colorado..

Idaho...
Illinois..
Indiana.
Iowa___
Kansas..

220

All
branches

INSURANCE

1.000 to 2,500..
2,500 to 5,000..
5.000 to 10,000.

404

In more
than one
State

State
wide

DEPOSIT

United States— total.

County
wide

City
wide

FEDERAL

All
branch
systems

C
O
o

Kentucky........
Louisiana.........
Maine..............
Maryland........
Massachusetts.
Michigan...
Minnesota..
Mississippi.
Missouri. ..
Montana. . .

5

23
41
2

24

3
9
29

6
20
8
8
11

11
14

86

19
27

18

20

24

162

128

16

44

6

6

53
57
76

2

2
2
2

37

New York.........
North Carolina.
North Dakota. .
Ohio...................
Oklahoma.........

88

67

Oregon.............
Pennsylvania. .
Rhode Island. .
South Carolina.
South Dakota..

4
45

37

12
11

13
10

14
5

12

11

7
9

Washington...
West Virginia.
Wisconsin. . . .
Wyoming.......

1

21

il

91

6

9
24
7
3

2
6
2
1

1641

605

110

8

14
175
165

132

28
7
38

11

74
7
5

85
17

12

5

51
3
7
18
17

51

17

18

16

12
12

” i‘

2

9
3
18

10
10

11

38
23

11

22

14

1
3

14

2

5
18

3
3
14

67

1
1

6
1
9

164

16

4

44

113

*i7*

76

OFFICES

Tennessee.
Texas.......
Utah.........
Vermont. .
Virginia. ..

*23'

20

2
11
2

2

12

4
37

O BANKING
F

52
4
41

3
3
24

28

6

NUM
BER

Nebraska...........
Nevada..............
New Hampshire.
New Jersey........
New Mexico.. . .

14
27

‘20‘

47

1

‘2 0 *

9
29

1

iThe number of branches in Table 108 does not ag
are located. Out-of-State branches are operated as fc
1 branch in Pennsylvania; and 2 banks in New York _________________________
NOTE: There are 11 branch systems in the possessions operating 58 branches.
Back figures—See the Annual Report for 1936, p. 120.




C
O

Table 109.

N u m b e r o f O p e r a t i n g B a n k i n g O f f ic e s o f i n s u r e d c o m m e r c ia l b a n k s , D e c e m b e r 31, 1937

GROUPED BY AMOUNT OF DEPOSITS, TYPE OF OFFICE, AND POPULATION OF CENTER IN WHICH LOCATED

All
banking
offices

$1 0 0 ,0 0 0
to
$250,000

Banking offices with deposits of— 1
None or
$250,000 $500,000 $1 ,0 0 0 ,0 0 0 $2,000,000 $5,000,000 $1 0 ,0 0 0 ,0 0 0
Over
not
to
to
to
to
to
to
$50,000,000 available
$500,000 $1 ,0 0 0 ,0 0 0 $2 ,0 0 0 ,0 0 0 $5,000,000 j$10,000,000 $50,000,000

785

2,874

3,591

3,447

Banking offices in centers
with population of—
Under 250.....................................
250 to 500.....................................
500 to 1,000..................................

849
1,936
2,682

225
313
170

428
946
892

130
482
1,062

3,327
1,964
1,489

45
9
7

452

1,255
363

10.000 to 25,000..........................
25.000 to 50,000..........................
50.000 and over............................

1,281
608
3,042

9
3
4

Unit banks.............................................
Banking offices in centers with
population of—
Under 250............................................
250 to 500............................................
500 to 1,000.........................................

12,912

592

706
1,641
2,317

179
239
117

1.000 to 2,500......................................
2,500 to 5,000......................................
5.000 to 10,000....................................

2,880
1,656
1,281

35
5

10.000 to 25,000..................................
25.000 to 50,000..................................
50.000 and over...................................

1,068
450
913

2

4,266

193

1,958

657

424

1 01

1 00

to 2,500..............................
2,500 to 5,000..............................
5.000 to 10,000............................

2,729

1 .0 0 0




143
295
365

38
76
81

24
413
1,142
760
389

320
592
605
379

21

135

154
40
425

2,526

3,187

2,759

1,936

388
844
796

114
453
978

367

21
86

6

1,143
324
97

1,016
659
343

258
502
539

8

21

14
43

136
28
103

322

404

688

1

72
36
19

4
16
57

66
20

1
348
40
1 02

1 12

112

4

134
317

20

549
218
697

103
148
381

14
32
377

101

1,283

382

214

32

27

23
22

245

CORPORATION

All offices of banks operating
branches..........................
Banking offices in centers
with population of—
Under 250.................................
250 to 500.................................
500 to 1,000..............................

612

1

111

3
17

88

477
182
219

112

150

168

182

32

793

675

275

210

69

263

81

11
20

INSURANCE

17,178

DEPOSIT

All banking offices........................

FEDERAL

$1 0 0 ,0 0 0
and
under

611
38
76
80

53
14
4

1.000 to 2,500. .
2,500 to 5,000. .
5.000 to 10,000.

447
308
208

10.000 to 25,000
25.000 to 50,000
50.000 and over.

213
158
2,129

2
2

7
7
25

7
92

885

9

61

27
60
85

3
2
2

11
21

4
1

112

126

62
90

72
36
19

12

23
54

3

322

12

57
24
488

72
36
478

36
213

195

69

245

90

99

78

93

92

101

56

206

16

5
9
33

12

2

10
2

33
7

31
26

1

11

13
23
13

12

2

4

12

23
8

8

1

66

12

43

25
54

93

56

69

582

183

109

13

405

39
15
10

101

46
18

1

22

23

3
12

8
21
20

7

10.000 to 25,000...........................
25.000 to 50,000...........................
50.000 and over............................

67
55
335

Branches.........................................
Banking offices in centers
with population of—
Under 250.....................................
250 to 500.....................................
500 to 1,000..................................

3,381

184

287

314

589

715

116
235
280

29
81
80

11
20

51

3
7
34

330
217
160

43

79
32
14

95
75
35

49
67
53

10.000 to 25,000...........................
25.000 to 50,000...........................
50.000 and over............................

146
103
1,794

27
27

4

1.000.to 2,500..............................
2.500 to 5,000..............................
5.000 to 10,000............................

43
72
51
9
4

1

1

1
2
2

12

4
7
6

25

8

7
92

14
12

314

3

45
21

476

2

5

1

10

14

12

8

10

30
55
60
45
9
9

10

18
42

3

49
28
435

159

10
11

3
4
102

9
13

OFFICES

117
91
48

O BANKING
F

to 2,500..............................
2.500 to 5,000..............................
5.000 to 10,000.............................
1 .0 0 0

22

NUM
BER

Head offices of banks operating
branches..............................
Banking offices in centers
with population of—
Under 250.....................................
250 to 500.....................................
500 to 1,000..................................

10

12

176

1
Deposits of unit banks are averages of daily figures for the year; deposits of all offices of banks operating branches are as of December 31, 1937.
Back figures—See the Annual Report for 1936, p. 122.




<>
£
C
O

Table 110.

<>
X

NUMBER OP OPERATING BANKING OFFICES OF INSURED COMMERCIAL BANKS, DECEMBER 31, 1937

GROUPED ACCORDING TO NUMBER OF COMMERCIAL BANKING OFFICES IN CENTER IN WHICH LOCATED,
TYPE OF OFFICE, AND POPULATION OF CENTER IN WHICH LOCATED

All
banking
offices

8,240

849
1,936
2,682
3,327
1,964
1,489

2 ,1 0 2

10.000 to 25,000...........................
25.000 to 50,000...........................
50.000 and over............................

banking
offices

7 or 8
banking
offices

9 to 19
banking
offices

Over 19
banking
offices

843
1,861
2,294

1.000 to 2,500...............................
2,500 to 5,000...............................
5.000 to 10,000.............................

banking
offices

Banking offices in centers with—
4
5
6
banking
banking
banking
offices
offices
offices

4,033

1,245

497

246

678

1,123
1,070
757

85
176
338

17
30
53

10

1,281
608
3,042

127
9

521
84
19

404
163
69

173
182
92

32
117
69

121

Unit banks..................................
Banking offices in centers
with population of—
Under 250..................................
250 to 500..................................
500 to 1,000..............................

12,912

6,918

3,566

1,046

384

178

125

706
1,641
2,317

701
1,574
1,961

5
65
350

2
6

1.000 to 2,500.............................
2,500 to 5,000...........................
5.000 to 10,000...........................

2,880
1,656
1,281

1,763
547
261

1,031
920
667

75
157
292

11
22

10

10.000 to 25,000.........................
25.000 to 50,000.........................
50.000 and over........................ .

1,068
450
913

1 01

332
126
56

150
98
57

20

4,266

1,322

199

113

68

143
295
365

142
287

529

175

21

18
511

103

258

1,983

18
24
64

334

15
87
46

8

6

95
84

252

334

93

271

1,649

CORPORATION




467

196

DEPOSIT

AH offices of banks operating
branches.......................
Banking offices in centers
with population of—
Under 250................................
250 to 500................................
500 to 1.000.............................

7

46

209

INSURANCE

17,178

Banking offices in centers
with population of—
Under 250.....................................
250 to 500.....................................
500 to 1,000..................................

2

FEDERAL

All banking offices........................

1

banking
office

1.000 to 2,500.................................
2,500 to 5,000.................................
5.000 to 10,000...............................

447
308
208

339
131
62

92
150
90

19
46

10

6
8

7

3

10.000 to 25,000.............................
25.000 to 50,000.............................
50.000 and over..............................

213
158
2,129

26

77
14
5

72
37
13

23
34
35

12

30
23

3
16
65

13
80

259

1,649

885

263

174

70

41

16

27

36

80

178

27
60
85

27
55
75

4

1

10

1.000 to 2,500..............................
2.500 to 5,000..............................
5.000 to 10,000............................

117
91
48

73
23

10.000 to 25,000..........................
25.000 to 50,000..........................
50.000 and over..........................

67
55
335

2

Branches.......................................
Banking offices in centers
with population of—
Under 250....................................
250 to 500....................................
500 to 1,000................................

3,381

1,059

293

116
235
280

115
232
258

2
22

1.000.to 2,500..............................
2.500 to 5,000..............................
5.000 to 10,000............................

330
217
160

266
108
54

53
94
64

10.000 to 25,000..........................
25.000 to 50,000..........................
50.000 and over...........................

146
103
1,794

24

8

4
7
13

31
7

20

1

18
7

11

2

10

10

1
6
20

5
31

78

178

129

72

52

57

57

191

1,471

13

4

2

1
1

6
12

5
3
6

3

52
19

12
21

10

OPPICES

2

1

5
1

O BANKING
P

39
56
26

12

NUM
BER

Head offices of banks operating
branches............................
Banking offices in centers
with population o f—
Under 250...................................
250 to 500....................................
500 to 1,000................................

2

33

6

25

26
13

2
10

45

8

49

10

181

1,471

Back figures—See the Annual Report for 1936, p. 123.




C
n

05

DEPOSITS OF BANKING OFFICES
Table 111.

AVERAGE DEPOSITS OF OPERATING BANKS DURING

19371

INSURED AND NONINSURED BANKS GROUPED BY CLASS OF BANK, TYPE OF BANK, AND AMOUNT OF DEPOSITS
Mutual savings banks

Commercial banks2
Insured

Total

Insured

Non­
insured

Total

Members F. R. System
Total

National

State

Not mem­
bers F. R.
System

Non­
insured

Total

Insured

Non­
insured

All banks.

59,188,154 48,550,972 10,637,182 49,061,576 47,551,313 26,645,433 14,553,451
62,212
500,463
1,262,428

43,260
448,123
1,199,037

18,952
52,340
63,391

62,118
499,926
1,260,454

43,260
447,887
1,198,297

2,310
73,857
373,635

653
13,059

$500,000 to $1,000,000___
$1 ,0 0 0 ,0 0 0 to $2 ,0 0 0 ,0 0 0 ..
$2,000,000 to $5,000,000..

2,172,524
3,062,045
4,815,990

2,084,447
2,919,422
4,259,403

88,077
142,623
556,587

2,151,641
2,966,814
4,351,718

2,079,837
2,902,292
4,223,485

962,073
1,556,992
2,554,480

4,388,884 3,555,278
11,362,242 7,482,921
31,561,366 26,559,081

Unit banks.......................... 28,875,772 23,152,565
Banks with deposits

of—.................
1

$1 0 0 ,0 0 0 and under..........
$100,000 to $250,000........
$250,000 to $500,000........

1,510,263 10,126,578

999,659

9,126,919

40,297
360,971
756,451

18,858
52,039
62,157

94
537
1,974

236
740

94
301
1,234

154,225
244,152
573,664

963,539
1,101,148
1,095,341

71,804
64,522
128,233

20,883
95,231
464,272

4,610
17,130
35,918

16,273
78,101
428,354

833,606 3,520,095 3,475,111 2,160,300
719,243
3,879,321 7,751,176 7,361,963 4,365,162 1,987,983
5,002,285 26,497,634 25,819,181 14,596,624 10,792,261

595,568
1,008,818
430,296

44,984
389,213
678,453

868,789
3,611,066
5,063,732

80,167
120,958
739,900

788,622
3,490,108
4,323,832

5,723,207 23,310,327 22,631,425 14,586,995

3,401,260

4,643,170

678,902

5,565,445

521,140

5,044,305

6 8 ,2 1 1

61,784
493,699
1,214,844

42,832
441,531
1,154,297

18,952
52,168
60,547

61,690
493,162
1,212,870

42,832
441,295
1,153,557

2,310
73,857
373,635

653
12,935
67,855

39,869
354,503
712,067

18,858
51,867
59,313

94
537
1,974

236
740

94
301
1,234

$500,000 to $1,000,000.... 2,064,010
$1 ,0 0 0 ,0 0 0 to $2 ,0 0 0 ,0 0 0 . . 2,874,895
$2,000,000 to $5,000,000. . 4,393,937

1,978,828
2,750,158
3,892,136

85,182
124,737
501,801

2,043,127
2,787,373
3,956,641

1.974.218
2,733,028
3.856.218

959,178
1,542,612
2,464,806

153,531
235,652
504,491

861,509
954,764
886,921

68,909
54,345
100,423

20,883
87,522
437,296

4,610
17,130
35,918

16,273
70,392
401,378

$5,000,000 to $10,000,000. 3,429,181
$10,000,000 to $50,000,000 6,927,429
Over $50,000,000.. .
7,415,993

2,683,531
4,115,902
6,093,350

745,650
2,811,527
1,322,643

2,636,994
4,244,786
5,873,684

2,612,899
4,039,166
5,778,212

1,761,931
2,918,338
4,490,328

444,256
694,003
1,287,884

406,712
426,825

24,095
205,620
95,472

792,187
2,682,643
1,542,309

70,632
76,736
315,138

721,555
2,605,907
1,227,171




CORPORATION

$5,000,000 to $10,000,000.
$10,000,000 to $50,000,000
Over $50,000,000..............

6,352,429

INSURANCE

Banks with deposits
of—i
$1 0 0 ,0 0 0 and under..........
$100,000 to $250,000........
$250,000 to $500,000........

DEPOSIT

(In thousands of dollars)

FEDERAL

All banks

Banks operating branches'30,312,382 25,398,407
Banks with deposits
of—i ..........................
$100,000 and under..........
428
$100,000 to $250,000........
6,764
6,592
47,584
$250,000 to $500,000........
44,740
$500,000 to $1 ,0 0 0 ,0 0 0 . . . .
$1 ,0 0 0 ,0 0 0 to $2 ,0 0 0 ,0 0 0 ..
$2,000,000 to $5,000,000..

108,514
187,150
422,053

105,619
169,264
367,267

1,709,259

831,361

124
356

428
6,468
44,384

172
2,844

2,895
14,380
89,674

694
8,500
69,173

102,030
146,384
208,420

2,895
10,177
27,810

7,709
26,976

87,956
883,101
862,212
398,369
1,067,794 3,506,390 3,322,797 1,446,824
3,679,642 20,623,950 20,040,969 10,106,296

274,987
1,293,980
9,504,377

188,856
581,993
430,296

20,889
183,593
582,981

76,602
928,423
3,521,423

172
2,844

428
6,764
47,584

428
6,592
44,740

2,895
17,886
54,786

108,514
179,441
395,077

105,619
169,264
367,267

4,561,133

478,519

4,082,614

7,709
26,976
9,535
44,222
424,762

67,067
884,201
3,096,661

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.
^Excludes figures for: 1 insured bank not a member of the Federal Reserve System for which daily average deposits are not available; 43 noninsured banks in the United
States; and 1 noninsured bank in the possessions. See NOTE on page 65.
Back figures—See the following Annual Reports: 1936, page 125; 1935, pp. 150-54.

O BANKING
F
OFFICES




DEPOSITS

$5,000,000 to $1 0 ,0 0 0 ,0 0 0 .
959,703
871,747
$10,000,000 to $50,000,000 4,434,813 3,367,019
Over $50,000,000.............. 24,145,373 20,465,731

4,913,975 25,751,249 24,919,888 12,058,438 11,152,191

T a b le 112. A v e r a g e D e p o s it s o p O p e r a t in g B a n k s D u r in g 19371
INSURED AND NONINSURED BANKS GROUPED BY CLASS OF BANK IN EACH STATE AND IN THE POSSESSIONS
(Amounts in thousands of dollars)

Insured

Non­
insured

Total

Total

Insured
Members F,. R. System Not mem­
bers F. R.
National
State
System

Non­
insured

Total

Insured

Non­
insured

59.188.154 48,550,972 10,637,182 49.061.576 47,551,313 26,645,433 14,553,451

6,352,429

1,510,263 10.126.578

999.659

9.126.919

United States............

59.010.154 48,544,595 10,465,559 48.883.576 47,544,936 26,645,433 14,553,451

6,346,052

1,338,640 10.126.578

999.659

9.126.919

33,870
8,974
19,884
682,039
26,561

44,123
18,358
48,762
408,112
28,071

1,949

286,827
18,867
195,788
261,653
269,302

65,176
87,086
111,403
10,651
56,237

139,733
44,390
33,821
64,940
72,380

74,571
373

89,008
3,893,679
807,304
589,763
354,185

45,182
2,792,518
439,769
234,015
237,467

34,083
733,919
58,363
93,516
18,325

9,743
367,242
309,172
262,232

3,710
10,449
12,275
33,140
53,784

458,303
440,822
208,410
577,538
1,859,736

446.245
440.349
190,674
530.350
1,806,060

242,198
304,529
123,544
303,709
1,316,080

56,356
47,839
31,867
115,150
376,756

147,691
87,981
35,263
111,491
113,224

12,058
473
17,736
47,188
53,676

1,413,006
876,413
193,852
1,388,475
136,842

1,397,966
864,978
189,182
1,381,320
136,842

768,634
677,746
66,393
618,386
77,869

402,240
8,426
1,344
548,946
39,630

227,092
178,806
121,445
213,988
19,343

15,040
11,435
4,670
7,155

6,377

272,669
78,446
170,249
3,876,754
329,109

1,949
270,720
78,446
169,161 ’ “ ’ 1,088
32,898
3,843,856
2,192
326,917

272,669
78,446
170,249
3,876,754
329,109

270,720
78,446
169,161
3,843,856
326,917

192,727
51,114
100,515
2,753,705
272,285

Connecticut.............
Delaware.................
District of Columbia
Florida.....................
Georgia....................

1,281,874
186,057
341,012
339,509
404,554

491,736
790,138
35,714
150,343
341,012
337.244 ’ *” '2,265
6,635
397,919

566,307
150,716
341,012
339,509
404,554

491,736
150,343
341,012
337.244
397,919

Idaho.......................
Illinois.....................
Indiana....................
Iowa........................
Kansas.....................

92,718
3,904,128
840,565
622,903
407,969

89,008
3,893,679
821.841
589,763
354,185

3,710
10,449
18,724
33,140
53,784

92,718
3,904,128
819,579
622,903
407,969

Kentucky.................
Louisiana.................
Maine......................
Maryland.................
Massachusetts.........

458,303
440,822
334,750
797,654
4,008,610

446.245
440,349
205,423
531,741
1,806,060

12,058
473
129,327
265,913
2,202,550

Michigan.................
Minnesota...............
Mississippi...............
Missouri...................
Montana..................

1,413,006
943,175
193,852
1,388,475
136,842

1,397,966
931,740
189,182
1,381,320
136.842

15,040
11,435
4,670
7,155

State
Alabama..................
Arizona....................
, Arkansas..................
California.................
Colorado..................




6,377

1,088
32,898
2,192
715,567
35,341

715,567
35,341

2,265
6,635
20,986

14,537

6,449

126,340
220,116
2,148,874

14,749
1,391

111,591
218,725
2,148,874

66,762

66,762

CORPORATION

171,623

178,000

178,000

INSURANCE

6,377

171,623

Possessions................

DEPOSIT

United States and
sions—total...........

FEDERAL

Total

Mutual savings banks

Commercial banks2

All banks

326,159
Nebraska..........................
30,339
Nevada..............................
274,215
New Hampshire...............
New Jersey....................... 2,021,539
New Mexico.....................
56,570

315,986
30,089
78,728
1,800,861
56,018

New York......................... 19,202,929 13,771,984
407,534
North Carolina.................
412,268
98,360
71,562
North Dakota...................
Ohio.................................. 2,325,355 2,320,655
Oklahoma..........................
445,396
443,258

315,986
30,089
78,728
1,661,313
56,018

252,007
28,111
68,775
759,179
44,255

5,430,945 13,928,945 13,265,184
4,734
407,534
412,268
98,360
71,562
26,798
4,700 2,207,387 2,202,687
445,396
2,138
443,258

5,119,915
100,135
50,276
1,027,058
392,844

7,517,650
147,998

10,173
250
195,487
220,678
552

326,159
30,339
85,268
1,693,801
56,570

5,263

58,716
1,978
8,592
339,189
1 0 ,0 1 1

250
6,540
32,488
552

' ’839,834
4,088

627,619
159,401
21,286
335,795
46,326

“ ' 1,861
562,945
1,752

188,947
188,190

663,761
4,734
26,798
4,700
2,138

5,273,984

506,800

4,767,184

117,968

117,968

1,589
576,181
176,191

1,589
6,321

64,171

64,171

61,363

61,363

4,460

4,460

Oregon..............................
Pennsylvania....................
Rhode Island....................
South Carolina.................
South Dakota...................

281,128
5,143,063
479,651
152,064
87,662

276,488
4,519,373
239,895
144,366
87,070

4,640
623,690
239,756
7,698
592

279,539
4,566,882
303,460
152,064
87,662

274,899
4,513,052
239,895
144,366
87,070

241,967
2,649,969
93,608
81,806
54,472

3,499
1,245,573
139,831
8,905
9,266

29,433
617,510
6,456
53*655
23,332

4,640
53,830
63,565
7,698
592

Tennessee..........................
Texas................................
U t a h ....:........................
Vermont............................
Virginia.............................

486,439
1,335,183
147,707
170,787
557,467

483,862
1,310,721
147,707
170,787
557,379

2,577
24,462

486,439
1,335,183
147,707
106,616
557,467

483,862
1,310,721
147,707
106,616
557,379

362,644
1,163,351
71,088
53,376
345,311

34,194
30,319
50,769

2,577
24,462

85,435

87,024
117,051
25,850
53,240
126,633

Washington.......................
West Virginia...................
Wisconsin..........................
Wyoming..........................

501,320
283,061
865,429
62,058

490,135
278,288
857,093
62,058

439,957
283,061
860,969
62,058

428,772
278,288
852,633
62,058

369,177
151,503
469,063
44,721

29,350
65,759
96,859
4,160

30,245
61,026
286,711
13,177

11,185
4,773
8,336

569,860
176,191

88




OFFICES

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.
’ Excludes figures for: 1 insured bank not a member of the Federal Reserve System for which daily average deposits are not available; 43 noninsured banks in the United
States; and 1 noninsured bank in the possessions. See NOTE on page 65.
Back figures—See the following Annual Reports: 1936, page 126; 1935, page 150; 1934, page 182.

O BANKING
F

139,548

DEPOSITS

188,947
327,738

Table 113.

AVERAGE DEPOSITS OF OPERATING COMMERCIAL BANKS DURING 19371

O

INSURED AND NONINSURED BANKS GROUPED BY AMOUNT OF DEPOSITS IN EACH STATE AND IN THE POSSESSIONS

All
banks

$1 0 0 ,0 0 0
and
under

$1 0 0 ,0 0 0
to
$250,000

$250,000
to
$500,000

Banks with deposits of—
$2 ,0 0 0 ,0 0 0
$500,000
$1 ,0 0 0 ,0 0 0
to
to
to
$5,000,000
$1 ,0 0 0 ,0 0 0
$2 ,0 0 0 ,0 0 0

o

$5,000,000
to
$1 0 ,0 0 0 ,0 0 0

$1 0 ,0 0 0 ,0 0 0
to
$50,000,000

Over
$50,000,000

(In thousands of dollars)
2,151,641
4,351,718
2,966,814
4,223,485
2.079.837
2,902,292
128,233
71,804
64,522

3,520,095
3,475,111
44,984

7,751,176
7,361,963
389,213

26,497,634
25,819,181
678,453

United States..........
Insured banks........
Noninsured banks.

48.883.576
47,544,936
1,338,640

62,008
43.260
18,748

499,698
447.887
51,811

1,258,925
1.198.297
60,628

2,148,811
2.079.837
68,974

2,955,011
2,895,915
59,096

4,321,362
4,223,485
97,877

3,507,956
3,475,111
32,845

7,682,281
7,361,963
320,318

26,447,524
25,819,181
628,343

Possessions..............
Insured banks.......
Noninsured banks.

178,000
6,377
171,623

110

228

1,529

2,830

12,139

68,895

50,110

228

' " ’ 1,529

2,830

11,803
6,377
5,426

30,356

11 0

30,356

12,139

68,895

50,110

272,669
270,720
1,949
78.446
78.446

1,225
1,124

11,338
10,796
542

23,683
22,968
715
278
278

21,507
20,916
591
2.494
2.494

27.248
27.248

41.839
41.839

5.364
5.364

83.756
83.756

56.709
56.709

101

14.711
14.711

14.513
14.513

46.450
46.450

170,249
169,161
1,088
3,876,754
3,843,856
32,898
329,109
326,917
2,192

2,905
2,672
233
238
178
60
638
458
180

10,534
10,025
509
1,371
1,162
209
5,318
4,669
649

17,643
17,297
346
15.823
15.823

24.891
24.891

24.497
24.497

13.557
13.557

28.287
28.287

47.935
47.935

39.024
39.024

13,234
12,553
681

’ 22,422
21,740
682

57,240
55,939
1,301
31.369
31.369

1,172
1,024
148
1,059
956
103

4,196
2,369
1,827
3,795
3,525
270

13,593
12,085
1,508
7.618
7.618

41,960
35,054
6,906

4.758
4.758

12.978
12.978

14,511
11,875
2,636

*24,544
23,904
640

State
Alabama..................
Insured banks.......
Noninsured banks.
Arizona
Insured banks.......
Noninsured banks.
Arkansas..................
Insured banks.......
Noninsured banks.
California................
Insured banks........
Noninsured banks.
Colorado..................
Insured banks........
Noninsured banks.
C onnecticut................
Insured banks...........
Noninsured banks....
Delaware......................
Insured banks...........
Noninsured banks---District of Colum bia.
Insured banks...........
Noninsured banks.. . .
Florida.........................
Insured banks...........
Noninsured banks
Georgia........................
Insured banks...........
Noninsured banks....




566,307
491,736
74,571
150,716
150,343
373
341.012
341.012
339,509
337,244
2,265
404,554
397,919
6,635

352
268
84
4,777
2,842
1,935

59.845
103,087
59.845
90,909
12,178
26.859 ........*26,011
26,011
26.859

242,822
3.357.304
223,672
3.357.304
19,150
145.784 ....... 57,474
145.784
57,474

8 ,2 1 0
8 ,2 1 0

88,561
84,268
4,293
17.150
17.150

115,247
107,854
7,393
18.573
18.573

233,335
68.237
180,845
68.237
52,490
33.961 ....... *60,338
33.961
60,338

513
513

4.593
4.593

11.039
11.039

51.022
51.022

118.605
118.605

23,111
22,572
539
29,196
27,772
1,424

48,348
46,706
1,642
33.439
33.439

29.498
29.498

48.200
48.200

172.264
172.264

41.116
41.116

23.807
23.807

53.853
53.853

155.240
155.240

179.311
179.311

CORPORATION

1,260,454
1.198.297
62,157

INSURANCE

499,926
447.887
52,039

DEPOSIT

62,118
43.260
18,858

FEDERAL

49.061.576
47,551,313
1,510,263

United States and possess­
ions—total......................
Insured banks......................
Noninsured banks................

92,718
89,008
3,710
3,904,128
3,893,679
10,449
819,579
807,304
12,275
622,903
589,763
33,140
407,969
354,185
53,784

240
240

1,618
1,618

4.228
4.228

9.593
9.593

1,974
1,703
271
698
568
130
1,137
382
755
6,790
1,769
5,021

29,426
28,946
480
19,570
17,346
2,224
26,554
22.240
4,314
42,071
26,830
15.241

75,279
73,869
1,410
55,368
51,621
3,747
77,555
68,085
9,470
58,613
44,581
14,032

146,994
145,900
1,094
72,258
70,476
1,782
112,366
104,248
8,118
61,994
50,705
11,289

18,354
16,262
2,092
2.867
2.867

35,700
34,304
1,396
11,998
11,572
426
2,569
1,459

58,360
51,934
6,426
31.848
31.848

82,643
81,577
1,066
36.415
36.415

9,750
8,459
1,291
29.931
29.931

2,659
1,581
1,078
377
330
47

M ichigan.......................
Insured banks.............
Noninsured banks .
M innesota.....................
Insured banks.............
Noninsured banks.......
Mississippi.....................
Insured banks.............
Noninsured banks.......
Missouri.........................
Insured banks.............
Noninsured banks.......
M ontana........................
Insured banks.............
Noninsured banks.......

,413,006
,397,966
15,040
876,413
864,978
11,435
193,852
189,182
4,670
,388,475
,381,320
7,155
136.842
136.842




1 ,1 1 0

10.712
10.712

46.058
46.058

269.204
269.204

’414,692
414,692

2.533.888
2.533.888

56.334
56.334

268.249
268.249

105.913
105.913

68.143
68.143

141.391
141.391

22.246
22.246

73.062
73.062

58.982
58.982

32.995
32.995

112.414
112.414

56.196
56.196

19.798
19.798

*43,529
43,529

182.642
182.642

111.348
111.348

26,040
24,634
1,406
51.598
51.598

63,367
58,189
5,178
53.950
53.950

69,716
60,965
8,751
57.994
57.994

36.968
36.968

8 ,2 0 1

170
170

4.524
4.524

16.444
16.444

73
73

570
570

4.107
4.107

24,650
23,999
651

53.532
53.532

204,159
198,237
5,922

201.407
201.407

399
247
152
2,430
1,553
877
751
655
96
6,999
5,888

12,695
10,384
2,311
30,642
28,418
2,224
7,199
6,620
579
33,288
30,453
2,835
4.184
4.184

54,079
51,017
3,062
83,741
82,365
1,376
20,549
19,917
632
48,706
47,073
1,633
12.647
12.647

78,050
76,893
1,157
103,511
101,251
2,260
34,061
31,735
2,326
68,406
66,830
1,576
16.954
16.954

83,104
79,557
3,547
80,833
78,315
2,518
41,099
40,062
1,037
65.305
65.305

130,898
126,087
4,811
80,887
78,707
2,180
40.208
40.208

155.109
155.109

184.187
184.187

714.485
714.485

31.691
31.691

80,021
80,021

382.657
382.657

39.315
39.315

10.670
10.670

107.877
107.877

118.515
118.515

190.700
190.700

13.603
13.603

38.028
38.028

25.147
25.147

26.109
26.109

1 ,1 1 1

170
170

*209,590'
162,402
47,188
379,558
332,455
47,103

153.337
153.337
991.680
991.680

748.679
748.679

OFFICES

458,303
446,245
12,058
440,822
440.349
473
208,410
190,674
17,736
577,538
530.350
47,188
,859,736
,806,060
53,676

14,184
11,784
2,400
277,570
272,208
5,362
127,442
124,976
2,466
67,685
63,517
4,168
68.710
68.710

O BANKING
F

Kentucky.................
Insured banks.......
Noninsured banks.
Louisiana.................
Insured banks.......
Noninsured banks.
M aine.......................
Insured banks.......
Noninsured banks.
Maryland.................
Insured banks.......
Noninsured banks.
Massachusetts........
Insured banks.......
Noninsured banks.

6,085
4,775
1,310
155,101
153,269
1,832
113,747
111,821
1,926
128,072
121,757
6,315
74,483
66,282

DEPOSITS

Idaho................................
Insured banks...............
Noninsured banks.........
Illinois..............................
Insured banks...............
Noninsured banks.........
Indiana............................
Insured banks...............
Noninsured banks.........
Iowa..................................
Insured banks...............
Noninsured banks.........
Kansas.............................
Insured banks...............
Noninsured banks.........

Table 113.

AVERAGE DEPOSITS OF OPERATING COMMERCIAL BANKS DURING 19371— Continued

INSURED AND NONINSURED BANKS GROUPED BY AMOUNT OF DEPOSITS IN EACH STATE AND IN THE POSSESSIONS

All
banks

Oregon....................
Insured banks. .. .
Noninsured banks
Pennsylvania.........
Insured banks. .. .
Noninsured banks
Rhode Island........
Insured banks. .. .
Noninsured banks

279,539
274,899
4,640
4,566,882
4,513,052
53,830
303,460
239,895
63,565




68
68

197
197
372
372
1,038
858
180
3,078
2,634
444
453
258
195
2,551
2,235
316
82
82
333
256
77
28
28

41,644
39,415
2,229
545
295
250
4,123
3,733
390
10,472
10,472

1,075
882
193
1,027
889
138
301 ......... 4,015
4,015
301

16,103
13,317
2,786
55,788
54,211
1,577
6,468
5,916
552

12.938
12.938
164,304
163,162
1,142
14.232
14.232

23.666
23.666
406.793
406.793

6.632
6.632

' 13,487
13,487

137,371
136,817
554
38.602
38.602

181.329
181.329

246.101
246.101

44.089
44.089

6,512
6,512

12,811
12,811

1 2 ,0 1 1
1 2 ,0 1 1

59,175
58,324
851

2 0 2 ,8 6 6

355,803
352,670
3,133
7,577
1,698
5,879

3,713
3,713
10,023
9,576
447

20,594
20,187
407
14,807
14,125
682
64,442
61,914
2,528
41,226
40,891
335

196,703
6,163
1.938
1.938

Over
$50,000,000

141.395
141.395

24.759
24.759

7.691
7.691
476,914
458,686
18,228
56,113
52,082
4,031
17.475
17.475

$1 0 ,0 0 0 ,0 0 0
to
$50,000,000

23.596
23.596

245.426
245.426

251,174
248,071
3,103
58.349
58.349

38,666
38,666

16.525
16.525

26,143
23,099
3,044
286.421
286.421

127,433
126,381
1,052
25.597
25.597

5,852
5,396
456
9,141
9,025
116
10,989
10,558
431
14,863
13,440
1,423
21,341
19,854
1,487

$5,000,000
to
$1 0 ,0 0 0 ,0 0 0

31.944
31.944
6.651
6.651

664,526
634,963
29,563

265.769
265.769

752,115
739,908
12,207
77.568
77.568

11,869,626
11,241,283
628,343
131.924
131.924

25,241

183.177
183.177

25,241
308.080
308.080

1.071.571
1.071.571

61.354
61.354

31.705
31.705

36.754
36.754

167.774
167.774

14,156
9,598
4,558
716.949
716.949

7.067
7.067

11.434
11.434

211.753
211.753

459,666
450,514
9,152
14.396
14.396

687,573
653,566
34,007
90,556
37,187
53,369

2.074.494
2.074.494

23,301
18,984
4,317

165.664
165.664

CORPORATION

,928,945
,265,184
663,761
412,268
407,534
4,734
98,360
71,562
26,798
,207,387
,202,687
4,700
445,396
443,258
2,138

127
127

27,166
23,290
3,876

Banks with deposits of— 1
$2 ,0 0 0 ,0 0 0
$500,000
$1 ,0 0 0 ,0 0 0
to
to
to
$2 ,0 0 0 ,0 0 0
$5,000,000
$1 ,0 0 0 ,0 0 0
(In thousands of dollars)
30,540
27.109
38,078
37,193
29,031
27.109
885
1,509
4.293
1.905
1.905
4.293

INSURANCE

New Y ork...............
Insured banks.. . .
Noninsured banks
North Carolina___
Insured banks. .. .
Noninsured banks
North D akota.......
Insured banks. .. .
Noninsured banks
O hio........................
Insured banks. .. .
Noninsured banks
Oklahom a..............
Insured banks. .. .
Noninsured banks

3,702
2,028
1,674

$250,000
to
$500,000

DEPOSIT

326,159
315,986
10,173
30,339
30,089
250
85,268
78,728
6,540
,693,801
,661,313
32,488
56,570
56,018
552

$1 0 0 ,0 0 0
to
$250,000

FEDERAL

Nebraska................
Insured banks
Noninsured banks
Nevada....................
Insured banks
Noninsured banks
New Ham pshire...
Insured banks... .
Noninsured banks
New Jersey.............
Insured banks... .
Noninsured banks
New Mexico...........
Insured banks
Noninsured banks

$1 0 0 ,0 0 0
and
under

South Carolina.......
Insured banks........
Noninsured banks.
South Dakota.........
Insured banks.......
Noninsured banks.

152,064
144,366
7,698
87,662
87,070
592

1,842
981
861
2.096
2.096

14.020
14.020

Tennessee................
Insured banks.......
Noninsured banks.
Texas........................
Insured banks.......
Noninsured banks.
Utah..........................
Insured banks.......
Noninsured banks.
Verm ont..................
Insured banks.......
Noninsured banks.
Virginia....................
Insured banks.......
Noninsured banks.

486,439
483,862
2,577
1,335,183
.,310,721
24,462
147.707
147.707

2,586
2,349
237
5,942
4,346
1,596
99
99

16,364
16,014
350
35,768
31,994
3,774
1.550
1.550

Washington............
Insured banks.......
Noninsured banks.
West Virginia.........
Insured banks.......
Noninsured banks.
Wisconsin................
Insured banks.......
Noninsured banks.
W yom ing.................
Insured banks.......
Noninsured banks.

4,720
3,600

61.675
61.675

17.362
17.362

17.251
17.251

24.673
24.673

42,727
41,622
1,105
102,957
101,764
1,193
12.158
12.158

28.804
28.804

25.879
25.879

199.014
199.014

1 1 2 ,2 1 0
1 1 2 ,2 1 0

’ 83,588
78,581
5,007
6.277
6.277

34,182
33,297
885
118,964
112,397
6,567
9.566
9.566

158,382
152,057
6,325
5.641
5.641

148.321
148.321

507.575
507.575

173.686
173.686

6.349
6.349

106.067
106.067

6.960
6.960

11,608
11,608

30.553
30.553

44.448
44.448

12.512
12.512

8.063
8.063

26,266
26,266

60.113
60.113

84.893
84.893

95.997
95.997

51.780
51.780

160.728
160.728

69.122
69.122

5,242
5,015
227
4,105
3,689
416
19,484
19,223
261
733
733

16,375
15,631
744
15,416
15,080
336
61,869
58,997
2,872
7.466
7.466

25.297
25.297

18.503
18.503

206.323
206.323

' *41,809
41,809

61,086
53,537
7,549
33.388
33.388

81.670
81.670

' 37,979
36,840
1,139
104,661
102,621
2,040
10.482
10.482

24,757
22,165
2,592
73,866
71,076
2,790
128,348
125,314
3,034
16,822
16,822

775
646
129
318
318

81.380
81.380

135.232
135.232

134.408
134.408
* 12,519
12,519

76.406
76.406
194.812
194.812

13.718
13.718

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 De­
cember 31, 1937. Excludes figures for: 1 insured bank not a member of the Federal Reserve System for which daily average deposits are not available; 43 noninsured banks
in the United States; and 1 noninsured bank in the possessions. See NOTE on page 65.
Back figures—See the following Annual Reports: 1936, page 128; 1935, page 156.




OFFICES

704
631
73
92

11.591
11.591

88

439,957
428,772
11,185
283,061
278,288
4,773
860,969
852,633
8,336
62.058
62.058

26.046
26.046

O BANKING
F

505
417

88

21,013
17,988
3,025
14.781
14.781

DEPOSITS

557,467
557,379

12,249
10,781
1,468
9,023
8,431
592

535
535

106,616
106,616

12,928
11,704
1,224
13.129
13.129

1 ,1 2 0

O
00

Table 114.

A v e r a g e DEPOSITS OF OPERATING MUTUAL SAVINGS BANKS DURING 19371

INSURED AND NONINSURED BANKS GROUPED BY AMOUNT OF DEPOSITS IN EACH STATE

Banks with deposits of— 1
All
banks

1,974
740
1,234

$1 ,0 0 0 ,0 0 0
to
$2 ,0 0 0 ,0 0 0

$2 ,0 0 0 ,0 0 0
to
$5,000,000

(Inti tousands of dollars)
20,883
95,231
464,272
4,610
17,130
35,918
16,273
78,101
428,354

$5,000,000
to
$1 0 ,0 0 0 ,0 0 0

$1 0 ,0 0 0 ,0 0 0
to
$50,000,000

Over
$50,000,000

868,789
80,167
788,622

3,611,066
120,958
3,490,108

5,063,732
739,900
4,323,832

715,567

1,837

17,902

70,757

133,084

419,617

72,370

715,567
35,341

1,837

17,902

70,757

133,084
8,440

419,617
26,901

72,370

3.567
3.567

3.021
3.021

26,901

12,443
12,443
1,921

43,215
5,044
38,171
2,583

8,440
14,398
7,949
6,449
24,113
6,988
17,125
9,119

40,982
111,975

92,820

1,921

2,583

9,119

111,975

92,820

85,341
20,986
14,537
6,449
126,340
14,749
111,591
220,116
1,391
218,725

258
258
307
307

5,329
2,717
2,612
1.391
1.391

40,982

2,148,874

94

167

6,473

18,537

183,690

367,437

1,023,059

549,417

2,148,874
66.762
66.762

94

167

6,473

18,537

183,690

367,437

1,023,059

549,417
66.762
66.762

87,323

188,947

330

5,351

16,155

56,308

23,480

188,947
327,738
139,548
188,190
5,273,984
506,800
4,767,184

330
457
457

5,351
502
502

16,155
2,606
1,046
1,560
9,583

56,308
8,741
4,977
3,764
68,161

23,480
60,628
28,723
31,905
191,583

9,583

68,161

191,583

87,323
162,232
92,572
103,843
58,389 ........ 92,572
1,538,310
3,466,347
506,800
1,538,310
2,959,547

CORPORATION




94

537
236
301

$500,000
to
$1 ,0 0 0 ,0 0 0

INSURANCE

Massachu setts...................
Insured banks...................
Noninsured banks.............
Minnesota..........................
Insured banks...................
Noninsured banks............
New Hampshire.................
Insured banks...................
Noninsured banks............
New Jersey.........................
Insured banks...................
Noninsured banks............
New York............................
Insured banks...................
Noninsured banks............

94

$250,000
to
$500,000

DEPOSIT

State
Connecticut.......................
Insured banks...................
Noninsured banks............
Delaware.......... ..................
Insured banks...................
Noninsured banks............
Indiana...............................
Insured banks...................
Noninsured banks............
Maine..................................
Insured banks...................
Noninsured banks............
Maryland............................
Insured banks...................
Noninsured banks............

10,126,578
999,659
9,126,919

$1 0 0 ,0 0 0
to
$250,000

FEDERAL

United States—total............
Insured banks......................
Noninsured banks................

$1 0 0 ,0 0 0
and
under

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

236
236

6.745
6.745

4,920
11.057
11.057
2.890
2.890

1,616
1,616

108.952
108.952

79,172

490,688

79,172
104,380

4,920

1.087
1.087

61.363
61.363
4.460
4.460

7.536
7.536

490,688
66,418

104,380
17.115
17.115

66,418

2,608
2,608

28.971
28.971

57.386
57.386

December 31S 193i7SU d 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
rG
Back figures—See the following Annual Reports: 1936, page 132; 1935, page 164.

OFFICES




O BANKING
F

Washington........... .
Insured banks.......
Noninsured banks.
Wisconsin................
Insured banks.......
Noninsured banks.

117.968
117.968

DEPOSITS

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.

106

FEDERAL DEPOSIT INSURANCE CORPORATION
ASSETS AND LIABILITIES OF OPERATING BANKS

Table 115. SUMMARY OP ASSETS AND LIABILITIES OP OPERATING COMMERCIAL
B a n k s i n t h e U n it e d S t a t e s a n d P ossessio n s , D e c e m b e r 31, 1936,
J u n e 30, 1937, a n d D e c e m b e r 31, 1937
(Amounts in millions of dollars)
1936

1937

Dec. 31

June 30

Dec. 31

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

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

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 figures1.....................................................
Total operating............................................................................

13,970
3
13,973

13,885

13,795

13,887

13,797

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

1 ,1 2 2

1,078
57
1,135

1,041
44
1,085

All banks
15,355
14,219
7,062
17,158
2 ,2 1 2

Insured banks

2

2

Noninsured banks

Number of banks:
Included in above figures....................................
Statements of assets and liabilities not available.
Total operating....................................................

56
1,178

H n December 31,1936,2 trust companies not engaged in deposit banking, and 1 bank not a member
D
of the Federal Reserve System from which a report was not received; on June 30 and December 31,1937,
trust companies not engaged in deposit banking.
Back figures—See the following Annual Reports: 1936, p. 134; 1935, p. 170.

2




107

ASSETS AND LIABILITIES OF OPERATING BANKS

Table 116. SUMMARY OF ASSETS AND LIABILITIES OF OPERATING MUTUAL
S a v in g s B a n k s in t h e U n it e d S t a t e s , D e c e m b e r 31, 1936,
J u n e 30,1937, a n d D e c e m b e r 31, 1937
(Amounts in millions of dollars)
1936

1937

Dec. 31

June 30

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

Number of banks............................................................................

563

562

562

70
237
262
469
94
1,132

69
252
247
470

72
250
246
472

1,139

1,141

998

1 ,0 0 2

Dec. 31

All banks

22

1,344
11,539

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

101

101

LIABILITIES AND CAPITAL
Total deposits..................................................................................
Miscellaneous liabilities...................................................................
Total capital account......................................................................
Total liabilities and capital account.................................

131
1,132

4
133
1,139

1,004
3
134
1,141

Number of banks.............................................................................

56

56

56

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

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
Total deposits..................................................................................
Miscellaneous liabilities...................................................................
Total capital account......................................................................
Total liabilities and capital account.................................

9,063
16
1,187
10,266

9,161
1,207
10,388

9,169
19
10,398

Number of banks.............................................................................

507

506

506

Back figures—See the following Annual Reports: 1936, p. 135; 1935, p. 171.




20

1 ,2 1 0

T a b le 117.

ASSETS AND LIABILITIES OP OPERATING INSURED COMMERCIAL BANKS, CALL DATES,

g

J u n e 30, 1934, t o D e c e m b e r 31, 1937

§o

(Amounts in thousands of dollars)
1935

1934
Dec. 31

June 29

Dec. 31

June 30

Dec. 31

June 30

Dec. 31

13,896

14,137

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

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

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
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

1 1 , 2 0 2 ,1 0 1

11,456,907

13,851,126

14,039,118

15,730,560

14,540,151

14,930,844

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

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
*295,997

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

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
J 177,353
f 273,466 i 119,520
Federal Intermediate Credit banks................................................
2,388,770
2,256,316
States and their political subdivisions...........................................
21,916
23,256
Territorial and insular possessions of the United States...............
980,743
915,267

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

Number of banks1 .......................................................................

FEDERAL

June 30

1937

1936

ASSETS

Total direct obligations of the U. S. Government............
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.

Other securities:
Obligations of:
Home Owners' Loan Corporation guaranteed as to interest only. . . .




2 2 1 ,1 1 1

CORPORATION

Direct obligations of the U. S. Government:
Bonds ...............................................................................................

INSURANCE

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

0

DEPOSIT

Gash, 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..........................................................................

1,176,996
91,988
853,656
130,810
510,502
297,859
7,411,609

1,287,352
89,507
932,697
130,744
505,643
278,638
7,557,706

1,137,234
80,226
878,815
132,238
493,220
273,068
7,213,851

1,035,529
73,681
837,660
132,637
483,742
217,852
6,807,420

16,498,085

18,171,507

19,036,487

20,116,388

22,184,086

22,307,259

21,178,563

20,476,772

218,727
20,559
265,222
216,690
165,095

257,223
31,987
257,273
235,382
163,951

284,725
17,751
201,164
138,969
127,807

309,903
29,377
181,539
174,874
105,322

318,879
17,979
144,298
118,780
86,865

378.018
18,703
161.019
133,090
90,269

440,745
15,533
131,645
115,626
118,973

419,652
22,938
127,946
131,435
73,497

1,116,165
213,261
555,885
2,906,282
(2
)
<>
*
3,713,803
5,789,309
7,680
15,188,678

876,561
191,825
499,251
2,836,414
(2
)
(2
)

993,856
197,497
497,475
2,832,874
(2
)
<)
2

1,064,772
203,078
487,505
2,835,257
(2
)
(2
)

1,097,524
273,513
489,244
2,876,819
661,606
*229,765

1,172,495
274,269
487,604
2,959,251
637,369
•244,446

1,300,825
265,611
504,217
3,080,036
726,400
<268,971

752,540
218,728
501,543
3,139,457
788,355
<265,499

3,492,460
5,751,098
9,729
14,603,154

3,294,779
5,901,592
6,966
14,495,455

3,228,460
6,068,215
9,679
14,697,981

3,193,292
5,591,228
7,393
15,107,185

3,102,832
6,270,346
15,939,722

3,150,481
6,885,564
9,996
17,014,623

3,065,034
7,201,866
8,977
16,717,467

Miscellaneous assets:
Banking house, furniture and fixtures..............................
Other real estate owned.....................................................
Customer’s liability on account of acceptances................
Redemption fund and due from United States Treasurer.
Borrowed securities............................................................
Other assets........................................................................
Total miscellaneous assets....................................

1,212,843
426,996
254,360
36,249
5,110
470,672
2,406,230

1,212,438
465,313
243,093
33,956
3,641
504,067
2,462,508

1,209,938
507,573
158,934
11,842
2,306
372,177
2,262,770

1,196,266
550,723
180,495

1,194,621
574,024
159,267

1,177,752
560,468
181,281

1,172,617
537,430
190,745

1,160,501
519,572
157,141

1,489
323,095
2,252,068

1 ,0 0 0

319,091
2,248,003

1,115
297,760
2,218,376

818
256,629
2,158,239

1,162
257,910
2,096,286

Total assets...............................................................

43,435,788

46,439,270

47,251,619

50,917,563

53,578,392

56,195,917

54,891,576

54,221,369

Total securities. . .
Loans, discounts, and overdrafts (including rediscounts):
Commercial paper bought in open market...............................
Notes, bills, acceptances, etc., payable in foreign countries...
Acceptances of other banks payable in the United States.. . .
Reporting banks’ own acceptances..........................................
Loans to banks..........................................................................
Loans to brokers and dealers in securities:
In New York City.................................................................
Elsewhere...............................................................................
Loans on farm land...................................................................
Loans on other real estate........................................................
Agricultural loans (excluding loans on farm land)...................
Commercial and industrial loans..............................................
All other loans:
On securities..........................................................................
Otherwise secured and unsecured.........................................
Overdrafts..................................................................................
Total loans, discounts, and overdrafts.......................




1 0 ,0 1 1

BANKS

1,090,295
97,632
745,078
130,317
486,065
293,465
6,841,099

O OPERATING
P

975,497
97,597
711,150
146,382
501,800
295,610
6,684,498

A D LIABILITIES
N

908,600
101,533
691,339
146,553
489,402
296,093
6,458,613

ASSETS

902,784
106,673
703,466
145,990
535,131
334,236
6,196,585

Public utilities................................. .
Real estate corporations.................
Other domestic corporations5 ......... .
Stock of Federal Reserve banks..........
Stock of other domestic corporations..
Foreign securities—public and private
Total other securities..............

T a b le 117,

A s s e ts AND LIABILITIES OP OPERATING INSURED COMMERCIAL BANKS, CALL DATES,
Ju n e 30 , 1934, t o D ecem ber 3 1 , 1937 — Continued
(Amounts in thousands of dollars)
1934
June 30

1936

1935

1937

Dec. 31

June 29

Dec. 31

June 30

Dec. 31

June 30

Dec. 31

18,029,625
804,567
2,586,882

20,074,063
881,308
2,674,238

21,463,913
1,105,886
2,885,335

23,419,236
946,564
2,916,202

22,624,279
651,489
3,164,685

22,106,285
801,354
2,668,152

862,934
21,532,221

445,727
21,866,801

921,170
24,550,779

832,437
26,287,571

935,237
28,217,239

802,196
27,242,649

813,974
26,389,765

Time deposits (exclusive of interbank deposits) *
Individuals, partnerships, and corporations:
Evidenced by savings pass books..................................................
Certificates of deposit.....................................................................
Open accounts.................................................................................
Christmas savings and similar accounts........................................
Postal savings.....................................................................................
States and their political subdivisions...............................................
Total time deposits.................................................................

9,163,890
1,459,611
617,041
79,656
661,327
384,032
12,365,557

9,708,911
1,363,516
556,316
25,549
524,404
335,070
12,513,766

10,236,013
1,355,785
577,171
85,102
372,479
325,624
12,952,174

10,575,116
1,299,133
590,436
30,874
279,928
405,187
13,180,674

10,933,195
1,335,166
637,045
100,291
195,840
428,928
13,630,465

11,491,137
1,254,003
676,659
32,343
139,737
347,084
13,940,963

11,814,508
1,243,390
753,974
120,922
131,602
346,429
14,410,825

12,100,322
1,213,532
608,950
36,739
125,915
588,044
14,673,502

INSURANCE

Interbank deposits:
Banks in the United States................................................................
Banks in foreign countries..................................................................
Total interbank deposits........................................................

4,270,506
164,485
4,434,991

4,794,507
155,846
4,950,353

5,201,586
279,638
5,481,224

5,941,190
452,978
6,394,168

6,232,648
475,065
6,707,713

6,657,491
442,291
7,099,782

5,514,043
632,375
6,146,418

5,662,112
466,036
6,128,148

Total deposits........................................................................ 35,813,594

38,996,340

40,300,199

44,125,621

46,625,749

49,257,984

47,799,892

47,191,415

694,790

650,935

222,045

78,850
5,110
61,387

48,768
3,641
43,943

46,299
2,306
35,304

35,019
1,489
31,347

38,558
27,578

32,296
1,115
23,634

35,425
818
21,823

30,082
1,162
18,924

279,212
(2
)
258,518
683,077

263,672
42,287
238,117
640,428

175,659
37,897
218,708
516,173

198,718
43,598
271,346
581,517

180,299
45,682
360,938
654,055

203,226
48,502
300,458
609,231

215,267
46,599
375,694
695,626

176,128
46,301
353,315
625,912

37,191,461

40,287,703

41,038,417

44,707,138

47,279,804

49,867,215

48,495,518

47,817,327

Circulating notes outstanding----

----

Miscellaneous liabilities:
Bills payable, rediscounts, and other liabilities for borrowed money7
Securities borrowed.............................................................................
Mortgage bonds and participation certificates outstanding........ .
Acceptances outstanding executed by or for the account of reporting
banks......................................................................................
Dividends declared but not yet payable8.................................
Other liabilities..........................................................................
Total miscellaneous liabilities.....................................
Total liabilities (excluding capital account).........




1 ,0 0 0

CORPORATION

16,717,180
1,686,555
2,265,552

DEPOSIT

FEDERAL

LIABILITIES AND CAPITAL
Demand deposits (exclusive of interbank deposits):
Individuals, partnerships, and corporations..................................... 14,881,070
1,708,141
United States Government.................................................................
2,023,548
States and their political subdivisions...............................................
Cash letters of credit, certified, officers’ , and travelers' checks out­
400,287
standing, and amounts due to Federal Reserve banks.................
Total demand deposits........................................................... 19,013,046

Capital account:
Capital stock, notes, and debentures................................................
Surplus...............................................................................................
Undivided profits—net..................................................*.*!.*!!!!!!!!
Reserves for contingencies and undeclared dividends*................
Retirement fund for preferred stock, capital notes, and debentures..
Total capital a ccou n t.............................................................

3,319,216
1,962,163
470,668
491,126
1,154
6,244,327

3,348,841
1,914,833
470,017
414,087
3,789
6,151,567

3,365,309
1,892,655
529,451
420,661
5,126
6,213,202

3,300,196
1,946,020
548,084
407,369
8,756
6,210,425

3,212,615
2,042,072
628,478
401,455
13,968
6,298,588

3,081,433
2,184,512

Total liabilities and capital a ccou nt...................................

43,435,788

46,439,270

47,251,619

50,917,563

Pledged assets:
United States Government obligations, direct and fully guaranteed,
pledged to secure liabilities............................................................
Other assets pledged to secure liabilities......................................... '

3,922,453
1,880,591

4,048,426
1,500,536

3,101,588
1,342,620

Secured liabilities:
Deposits secured by pledged assets pursuant to requirement of law.

4,202,769

4,084,550

3,445,769

3,030,146
2,268,179
711,186
366,868
27,663
6,404,042

56,195,917

54,891,576

54,221,369

2,994,476
1,180,649

3,438,857
1,043,355

3,217,375
1,014,004

3,114,308
979,258

3,190,912
948,196

3,492,359

3,838,827

3,590,329

3,368,921

3,341,823

BANKS




O OPERATING
P

«des t ie foll°wmg insured banks not members of the Federal Reserve System: 43 on June 30, 1934; 12 on December 31, 1934; 4 on June 29, 1935; 3 on December
i
31, 1935; 6 on June 30, 1936; 3 on December 31, 1936; 2 on June 30, 1937; and 2 on December 31, 1937.
2
Not reported separately.
8
Includes Home Owners’ Loan Corporation 4 percent bonds guaranteed as to interest only.
4
Not available. See footnote 3.
includes obligations of Joint Stock Land banks.
•Amounts reported separately only for banks not members of the Federal Reserve System.
Includes agreements to repurchase securities sold and obligations on industrial advances transferred to Federal Reserve banks.
"Dividends declared but not yet payable includes for national banks, amounts set aside for dividends not declared, and for State banks members of the Federal Reserve
System, amounts set aside for dividends not declared and for accrued interest on capital notes and debentures.

A D LIABILITIES
N

53,578,392

MEMORANDUM

ASSETS

374,295
22,442
6,328,702

3,053,970
2,225,180
707,589
384,103
25,216
6,396,058

6 6 6 ,0 2 0

T a b le 118.

A s s e ts AND LIABILITIES OP OPERATING INSURED COMMERCIAL BANKS NOT MEMBERS OP THE FEDERAL RESERVE SYSTEM,
C a l l D a t e s , J u n e 30,1934, t o D e c e m b e r 31,1937

£*
to

(Amounts in thousands of dollars)

June 29

Dec. 31

June 30

Dec. 31

June 30

Dec. 31

7,695

7,765

7,736

7,659

7,594

7,528

7,454

150,106
(a
)

184,072
(a
)

168,478
(2
)

204,848
1,249

202,567
1,488

219,930
900

214,892
1,064

200,062
1,476

185,723
682,672
32,316
4,972
37,208

199,984
804,602
39,645
5,848
40,988

233,015
853,898
39,566
4,981
35,962

256,956
972,764
42,534
4,101
49,262

261,386
1,016,739
43,363
3,711
46,621

298,823
1,174,202
48,716
2,123
61,580

254,501
985,833
47,429
2,777
47,907

287,071
996,152
45,696
2,527
59,730

1,092,997

1,275,139

1,335,900

1,531,714

1,575,875

1,806,274

1,554,403

1,592,714

371,801
175,996
23,495
571,292

410,583
184,556
2,228
597,367

431,038
162,194
5,414
598,646

464,482
199,996
3,431
667,909

521,901
267,482
4,186
793,569

663,984
229,296
2,694
895,974

697,206
276,416
6,141
979,763

700,961
290,736
6,951
998,648

922
20,461
8
63,498

4,073
84,688
131,866

2,991
114,204
206,641

1,989
127,535
209,465

1,994
116,966
188,016

2,381
110,870
195,124

1,509
98,093
196,413

2,255
95,691
201,208

84,881

220,627

323,836

338,989

306,976

308,375

296,015

299,154

25,643
41,338
2,231
441,135
4,815
187,760

3,109
43,456
1,055
457,024
4,708
200,516

48,955
873
474,534
5,908
195,635

49,828
494,189
3,911
225,605

45,343
3,192
525,403
4,315
240,898

38,099
4,236
529,514
4,677
246,170

32,881
4,769
535,933
4,376
235,826

ASSETS
Gash, balances with other banks, and cash items in process of
collection:
Balances with private banks and American branches of foreign banks
Other demand balances with banks in the United States:
Other time balances with banks in the United States......................
Total cash, balances with other banks, and cash items in
Direct obligations of the U. S. Government:

Federal Farm Mortgage Corporation................................................
Total obligations fully guaranteed by the U. S.
Other securities:
Obligations of:
.
Home Owners* Loan Corporation guaranteed as to interest only..

Territorial and insular possessions of the United States...............




I
V

0)
34,812 J
1
424,258
4,527
179,659

2 ,6 8 6

CORPORATION

Total direct obligations o f the U. S. Government............
Obligations fully guaranteed by the U. S. Government:

INSURANCE

7,521

DEPOSIT

Dec. 31

FEDERAL

June 30

1937

1936

1935

1934

191,183
28,894
138,177
131,174
57,369
1,190,053

193,797
26,794
137,365
118,632
51,828
1,231,338

210,820
26,066
142,160
118,914
49,525
1,257,353

234,648
23,307
159,390
106,910
49,558
1,299,718

250,841
22,675
173,324
95,995
47,522
1,366,576

285,267
20,532
201,162
94,828
42,139
1,463,079

266,501
20,343
202,478
92,161
44,920
1,449,099

241,058
18,084
188,593
86,968
36,550
1,385,038

Total securities...........................................................

1,846,226

2,049,332

2,179,835

2,306,616

2,467,121

2,667,428

2,724,877

2,682,840

18,723
357
1,482
6,532
12,029

24,782
583
1,232
3,558
8,454

37,621
459
537
3,751
8,753

37,954
460
528
5,477
7,337

40,932
284
231
1,589
6,173

54,276
315
494
1,959
5,160

63,816
385
947
2,379
4,323

56,055
436

34,538
5,723
267,405
838,062

33,193
5,120
237,455
824,849

19,224
5,688
238,946
814,066

17,897
6,810
236,290
802,623

18,629
7,191
233,088
792,797
240,992
229,765

28,049
8,107
229,377
812,946
211,482
244 446

22,585
7,819
239,712
839,170
266 654
O Q
fiQ 71

14,417
6,649
236,619
856,954
288,297

404,945
1,073,723
2,179
2,665,698

382,900
1,049,763
3,162
2,575,051

363,681
1,072,608
2,155
2,567,489

335,917
1,068,632
2,954
2,522,879

329,840
662,089
1,740
2,565,340

318,096
662,680
2,482
2,579,869

321,119
690,388
1,480
2,729,748

312,614
712,716
1,983
2,759,644

Miscellaneous assets:
Banking house, furniture and fixtures...................................
Other real estate owned............................................................
Customers* liability on account of acceptances.......................
Borrowed securities...................................................................
Other assets...............................................................................
Total miscellaneous assets...........................................

215,026
140,648
1,444
2,586
86,352
446,056

211,351
151,757
1,142
1,745
96,562
462,557

211,293
168,487
1,183
1,388
61,400
443,751

204,582
183,744
1,424
698
43,871
434,319

199,700
194,567
2,313
445
39,044
436,069

195,777
192,982
1,867
526
32,861
424,013

192,242
183,716
3,602
473
33,902
413,935

189,036
176,878
2,637
267
31,841
400,659

6,050,977

6,362,079

6,526,975

6,795,528

7,044,405

7,477,584

7,422,963

7,435,857

Total assets...

1,740
3,554

ocr’ aqq

BANKS




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

2 ,1 1 1

O OPERATING
F

Loans, discounts, and overdrafts (including rediscounts):
Commercial paper bought in open market.............................
Notes, bills, acceptances, etc., payable in foreign countries...
Acceptances of other banks payable in the United States. . . .
Reporting banks’ own acceptances..........................................
Loans to banks..........................................................................
Loans to brokers and dealers in securities:
In New York City................................................................
Elsewhere...............................................................................
Loans on farm land..................................................................
Loans on other real estate........................................................
Agricultural loans (excluding loans on farm land)®..................
Commercial and industrial loans6 ............................................
All other loans:
On securities..........................................................................
Otherwise secured and unsecured.........................................
Overdrafts.................................................................................
Total loans, discounts, and overdrafts......................

ASSETS A D LIABILITIES
N

Public utilities.......................................................................
Real estate corporations.......................................................
Other domestic corporations5 ................................................
Stock of other domestic corporations.......................................
Foreign securities—public and private.....................................
Total other securities....................................................

Table 118.

A s s e t s AND LIABILITIES OP OPERATING INSURED COMMERCIAL BANKS NOT MEMBERS OP THE FEDERAL RESERVE SYSTEM,
C a l l D a t e s , J u n e 30, 1934, t o D e c e m b e r 31, 1937—C o n t in u e d
(Amounts in thousands of dollars)
1935

1934

1936

Dec. 31

June 29

Dec. 31

June 30

Dec. 31

June 30

Dec. 31

LIABILITIES AND CAPITAL
1,532,346
50,348
425,678

1,766,011
51,039
466,117

1,823,382
25,851
496,274

2,038,981
37,267
534,774

2,141,915
69,311
564,882

2,448,932
64,603
587,022

2,351,847
23,364
587,240

2,358,835
20,320
536,168

28,621
2,036,993

24,679
2,307,846

29,116
2,374,623

39,464
2,650,486

43,300
2,819,408

54,106
3,154,663

50,582
3,013,033

46,632
2,961,955

Time deposits (exclusive of interbank deposits):
Individuals, partnerships, and corporations:
Evidenced by savings pass books..................................................
Certificates of deposit.....................................................................
Open accounts.................................................................................
Christmas savings and similar accounts........................................
Postal savings.....................................................................................
States and their political subdivisions...............................................
Total time deposits.................................................................

1,995,651
514,433
26,669
20,207
76,300
51,358
2,684,618

2.109.883
481,538
36,227
72,416
40,618
2.746.884

6 ,2 0 2

2,250,367
487,005
34,564
20,369
65,876
40,548
2,898,729

2,281,256
483,232
42,064
9,371
62,364
43,841
2,922,128

2,367,563
491,911
24,032
22,996
43,606
50,930
3,001,038

2,499,921
488,688
29,161
7,024
35,368
50,855
3,111,017

2,569,941
485,772
29,870
29,329
31,866
54,149
3,200,927

2,639,196
473,205
33,118
7,978
31,262
106,323
3,291,082

Interbank deposits:
Banks in the United States................................................................
Banks in foreign countries.................................................................
Total interbank deposits........................................................

78,109
1,507
79,616

91,691
1,514
93,205

87,410
1,310
88,720

94,620
4,204
98,824

95,514
4,225
99,739

102,288
4,690
106,978

92,812
3,074
95,886

97,029
2,693
99,722

4,801,227

5,147,935

5,362,072

5,671,438

5,920,185

6,372,658

6,309,846

6,352,759

38,696
2,586
12,450

29,640
1,745
* 8,678

30,023
1,388
7,729

20,820
698
6,905

18,706
445
6,801

15,116
526
5,101

17,991
473
4,854

15,432
267
3,844

CORPORATION

1,214
55,401
110,347

905
1,975
74,129
117,072

1,090
1,621
23,476
65,327

1,147
2,579
26,688
58,837

2,078
1,683
31,286
60,999

1,739
3,071
25,850
51,403

3,468
2,500
26,568
55,854

2,517
2,878
25,293
50,231

4,911,574

5,265,007

5,427,399

5,730,275

5,981,184

6,424,061

6,365,700

6,402,990

Total deposits.
Miscellaneous liabilities:
Bills payable, rediscounts, and other liabilities for borrowed money7
Securities borrowed............................................................................
Mortgage bonds and participation certificates outstanding.............
Acceptances outstanding executed by or for the account of reporting
banks...............................................................................................
Dividends declared but not yet payable...........................................
Other liabilities...................................................................................
Total miscellaneous liabilities..............................................
Total liabilities (excluding capital account)..................




DEPOSIT

Demand deposits (exclusive of interbank deposits):
Individuals, partnerships, and corporations.....................................
United States Government.................................................................
States and their political subdivisions...............................................
Cash letters of credit, certified, officers’ , and travelers' checks out­
standing, and amounts due to Federal Reserve banks.................
Total demand deposits...........................................................

INSURANCE

FEDERAL

June 30

1937

666,456
235,421
89,792
70,994
2,590
1,065,253

645,418
235,556
108,195
70,145
3,907
1,063,221

627,593
248,142
105,696
64,478
7,614
1,053,523

609,721
253,716
120,094
64,455
9,277
,057,263

599,540
257,758
108,756
55,513
11,300
1,032,867

Total liabilities and capital account...................................

6,050,977

6,362,079

6,526,975

6,795,528

7,044,405

7,477,584

7,422,963

7,435,857

182,483
370,742

209,650
306,713

225,203
256,788

244,182
238,010

265,258
199,182

277,258
190,574

255,421
190,697

279,744
183,347

37,473
293
502,206

30,933
472
499,237

27,862
65
474,045

25,371
109
488,571

406,005

408,743

374,035

372,788

60,505

74,008
14,645
13,113
510,509

66,790
16,552
9,710
467,087

75,545
14,270
5,448
468,051

MEMORANDUM
Pledged assets and securities loaned:
United States Government obligations, direct and fully guaranteed,
pledged to secure liabilities............................................................
Other assets pledged to secure liabilities..........................................
Assets deposited with State authorities to qualify for the exercise of
fiduciary or corporate powers, or pledged for other purposes6. . . .
Securities loaned to banks, dealers in securities, and others6 ...........
Total pledged assets and securities loaned........................
Secured and preferred liabilities:
Deposits secured by pledged assets pursuant to requirement of law..
Deposits preferred under the provisions of law but not secured by
pledge of assets6 ..............................................................................
Bills payable, rediscounts, and other liabilities for borrowed money6
Other liabilities secured by pledged assets6 .......................................
Total secured and preferred liabilities................................

378,632

390,527

362,174

391,638

2 0 ,2 2 1

16,551
503,282

™ ^ cludes the
w1?JLln~ured banks not members of the Federal Reserve System: 43 on June 30, 1934; 12 on December 31, 1934; 4 on June 29, 1935; 3 on December
.
31, 1935; 6 on June 30, 1936; 3 on December 31, 1936; 2 on June 30, 1937; and 2 on December 31, 1937.
2
Not reported separately.
includes Home Owners’ Loan Corporation 4 percent bonds guaranteed as to interest only.
4
Not available. See footnote 3.
includes obligations of Joint Stock Land banks.
•Amounts reported separately only for call dates June 30, 1936, to December 31, 1937.
7
Includes agreements to repurchase securities sold.

BANKS

115




O OPERATING
P

681,990
245,631
93,085
77,133
1,737
1,099,576

LIABILITIES

684,755
253,177
79,004
78,869
1,267
1,097,072

AD
N

667,034
271,603
83,440
116,869
457
1,139,403

ASSETS

Capital account:
Capital stock, notes, and debentures................................................
Surplus................................................................................................
Undivided profits—net......................................................................
Reserve for contingencies and undeclared dividends........................
Retirement fund for preferred stock, capital notes, and debentures..
Total capital a ccou nt.............................................................

Table 119.

ASSETS AND LIABILITIES OP OPERATING INSURED COMMERCIAL BANKS NOT MEMBERS OP THE FEDERAL RESERVE SYSTEM,
D e c e m b e r 3 1 , 1937

BANKS GROUPED BY AMOUNT OF DEPOSITS
All
banks
Number of banks1 ..................................

7,442

$1 0 0 ,0 0 0
and
under
587

$1 0 0 ,0 0 0
to
$250,000
2,151

377

79

57

5

f
(I)n thousands c> dollars)
13,738
98

13,555
103,779
711

24,342
181,778
2,310

30,936
217,424
4,276

36,468
232,858
8 ,0 0 0

35,794
205,559
11,494

16,528
97,256
7,506

30,984
207,954
15,270

7,810
64,985
8,142

15,938

118,045

208,430

252,636

277,326

252,847

121,290

254,208

80,937

3,580

37,060

79,116

113,371

144,754

186,885

95,853

209,999

123,044

1,534

16,678

35,249

49,038

52,925

54,727

18,701

44,907

24,592

3,249
1,507
9,870

32,085
30,431
116,254

69,221
77,831
261,417

90,019
133,275
385,703

98,136
165,291
461,106

83,661
189,329
514,602

36,914
85,399
236,867

74,299
138,183
467,388

48,194
22,633
218,463

76

1,692

5,307

8,461

8,995

15,365

5,720

9,629

259

27

23

151

147

1,756
1.351

2 ,1 0 2

123

4

49

15
143
172

5
100

339

2

30
350

35
96
483

20

341

154
1,361
830
7,291
83,907

7.352
3,127
6,642
143,548

5,180
224
2,231
126,652

1 ,6 6 6

3,446
1,902

3
31,051
21,171

147
54,348
53,343

301
62,251
94,861

45,501
144,189

375
1,013
23,735
179,568

12,874
1,945

70,429
15,164

84,312
31,730

67,843
42,709

35,689
50,029

13,441
55,588

2,355
23,591

1,349
38,571

6,172

416
6,871
63
27,642

4,732
56,870
249
201,695

14,463
100,216
319
344,629

28,817
133,340
483
439,571

57,155
135,339
594
479,255

69,235
99,836
119
459,046

36,013
59,523
108
221,027

83,471
99,386
43
397,914

15,605
10,432
3
166,500

37,512

317,949

606,046

825,274

940,361

973,648

457,894

865,302

384,963

149
1 ,0 0 1

1

CORPORATION

Total
 loans and securities................. 5,408,949


788

INSURANCE

Loans, discounts, and overdrafts (includ­
ing rediscounts):
55,245
Commercial paper bought in open market..
Notes, bills, acceptances, etc., payable in
436
foreign countries.......................................
Acceptances of other banks payable in the
2 ,1 1 1
United States.............................................
1,740
Reporting banks' own acceptances...............
3,554
Loans to banks..............................................
Loans to brokers and dealers in securities:
14,417
I jj New York City .
..........................
6,646
Elsewhere...................................................
236,496
Loans on farm land.......................................
849,141
Loans on other real estate............................
Agricultural loans (excluding loans on farm
288,293
land)...........................................................
265,499
Commercial and industrial loans..................
All other loans:
309,907
On securities..............................................
701,813
Otherwise secured and unsecured.............
1,981
Overdrafts......................................................
Total loans, discounts, and overdrafts 2,737,279

1,377

DEPOSIT

Securities:
993,662
Obligations, direct, of the U. S. Government.
Obligations fully guaranteed by the U. S.
298,351
Government...............................................
Obligations of States and their political
535,778
subdivisions................................................
843,879
Other securities.............................................
2,671,670
Total securities.......................................

2 ,0 2 1

$5,000,000 $1 0 ,0 0 0 ,0 0 0
Over
to
to
$1 0 ,0 0 0 ,0 0 0 $50,000,000 $50,000,000

FEDERAL

ASSETS
Cash, balances with other banks, and cash
items in process of collection:
198,519
Coin and currency.........................................
Balances with banks..................................... 1,325,331
57,807
Cash items in process of collection...............
Total cash, balances with other banks,
and cash items in process of col­
lection ................................................... 1,581,657

Banks with deposits of—
$500,000 $1 ,0 0 0 ,0 0 0 $2 ,0 0 0 ,0 0 0
to
to
to
$1 ,0 0 0 ,0 0 0 $2 ,0 0 0 ,0 0 0 $5,000,000

$250,000
to
$500,000

M iscellaneous assets:
Banking house, furniture and fixtures..........
Other real estate owned..................................
Customers' liability on account of accept­
ances ..............................................................
Borrowed securities.........................................
Other assets......................................................
T otal m iscellaneous assets....................
T otal assets................................................

187,798
176,780

1,947
1,397

10,723
6,462

17,384
10,623 i

23,725
17,747

2,623
267
31,742
399,210

1
1
184
3,530

10
79
728
18,002

40
86
1,245
29,378

7,389,816

56,980

453,996

2,341,418
3,134,080
641,951
20,146
31,199
99,516

24,481
11,160
5,246
26
167
415

46,391
6,314,701
3,029,011
8,285,690

15,432
267

I
1

32,072
24,521

36,569
32,157

64
10
2,198
43,744

36
91
2,666
59,386

277

162

2,017

16

4,375
73,378

4,922
44,495

14,186
105,967

1,238
21,330

843,854

1,121,654

1,277,073

1,299,873

623,679

1,225,477

487,230

189,707
131,567
45,106
339
1,868
1,841

329,165
297,335
82,861
808
5,401
3,185

388,901
450,229
103,952
1,283
7,821
6,115

419,446
543,570
110,386
1,727
6,461
9,853

388,923
594,180
94,040
2,829
4,148
15,714

184,488
283,929
45,294
2,680
1,525
9,588

169
41,664

1,848
372,276

4,194
722,949

6,349
964,650

7,851
1,099,294

9,225
1,109,059

4,424
531,928

7,648
1,034,149

234,416
137,860

A l l ,092
311,857

4,683
438,732

29,611
12,053

494,821
469,829

533,116
566,173

487,429
621,630

233,061
298,867

489,905
544,244

115,560
323,172

75
1

709
79

890
86

1,376
10

1,955
91

1,590

463

8,374

65

160

959

1,256

1,116

58

121

109

35
481
3,342
7,160

260
471
3,712
7,149

102
268
4,039
4,930

2,062
338
7,401
18,296

16
88
1,301
1,514

16,421
22,990

39,383
49,876

9,069
11,007

3,844
46
112
234

245
750
1,848

428
1,473
3,037

28
462
2,736
5,571

T ota l liabilities (excluding capital
a c c o u n t).............................................. 6,364,440

41,898

374,124

725,986

970,22!

1,106,454

1,116,208

536,858

1,052,445

440,246

11,568
2,270
939

55,752
14,362
7,020

77,651
23,270
11,663

94,346
32,954
15,865

103,271
39,679
17,682

103,438
43,636
21,224

48,050
24,865
9,080

81,339
57,554
18,586

19,832
17,107
6,075

209

1,873

3,858

6,517

7,584

13,226

4,170

14,123

3,559

96
15,082

865
79,872

1,426
117,868

1,751
151,433

2,403
170,619

2,141
183,665

656
86,821

1,430
173,032

411
46,984

56,980

453,996

843,854

1,121,654

1,277,073

1,299,873

623,679

1,225,477

487,230

Capital accou n t:
595,247
Capital stock, notes, and debentures............
255,697
Surplus..............................................................
108,134
Undivided profits—net...................................
Reserve for contingencies and undeclared
55,119
dividends.......................................................
Retirement fund for preferred stock, capital
11,179
notes, and debentures.................................
T ota l capital a c c o u n t.............................. 1,025,376
T ota l liabilities and capital a c c o u n t..

7,389,816

Excludes the following insured banks not members of the Federal Reserve System: 2 national banks in Alaska; 1 national bank in the Virgin Islands; 9 State banks in the
District of Columbia; and 2 other State banks.
’ Includes agreements to repurchase securities sold.
Back figures— See the following Annual Reports: 1936, p. 142; 1935, p. 176; 1934, p. 198.




BANKS

2,503
2,827
24,866
49,739

O OPERATING
F

M iscellaneous liabilities:
Bills payable, rediscounts, and other lia­
bilities for borrowed money2......................
Securities borrowed.........................................
Mortgage bonds and participation certificates
outstanding...................................................
Acceptances outstanding executed by or for
the account of reporting banks..................
Dividends declared but not yet payable. . . .
Other liabilities................................................
T otal m iscellaneous liabilities.............

342,990
73,317
509,363
312,747
121,137
33,929
7,334
3,120
3,808
41,869 ........10,936

A D LIABILITIES
N

Deposits:
Individuals, partnerships, and corporations:
Demand........................................................
Time..............................................................
States and their political subdivisions..........
United States Government.............................
Postal savings..................................................
Other banks.....................................................
Cash letters of credit, certified, officers’ , and
travelers’ checks outstanding.....................
T otal deposits............................................
D em and .....................................................
T im e ..........................................................

ASSETS

LIABILITIES AND CAPITAL

-q

T a b l e 120.

AVERAGES PER B AN K OP ASSETS AND LIABILITIES OP OPERATING INSURED COMMERCIAL BANKS NOT MEMBERS OP THE
F e d e r a l R e s e r v e System , D e c e m b e r 3 1 , 1937

BANKS GROUPED BY AMOUNT OP DEPOSITS
All
banks
Number of banks2 ..................................

$1 0 0 ,0 0 0
and
under

$1 0 0 ,0 0 0
to
$250,000

$250,000
to
$500,000

Banks with deposits of—
$500,000 $1 ,0 0 0 ,0 0 0 $2 ,0 0 0 ,0 0 0
to
to
to
$1 ,0 0 0 ,0 0 0 $2 ,0 0 0 ,0 0 0 $5,000,000

Over
$5,000,000 $1 0 ,0 0 0 ,0 0 0
to
$50,000,000
to
$1 0 ,0 0 0 ,0 0 0 $50,000,000
i1
)

1,377

788

377

79

57

5

$26,675
178,088
7,768

$3,581
23,404
167

$6,302
48,246
331

$12,045
89,944
1,143

$22,466
157,897
3,105

$46,279
295,506
10,152

$94,944
545,250
30,488

$209,215
1,231,088
95,013

$543,579
3,648,316
267,895

$1,562,000
12,997,000
1,628,400

212,531

27,152

54,879

103,132

183,468

351,937

670,682

1,535,316

4,459,790

16,187,400

$133,520

$6,098

$17,229

$39,146

$82,332

$183,698

$495,717

$1,213,330

40,090

2,614

7,754

17,442

35,612

67,164

145,164

236,721

787,842

4,918,400

71,994
113,394
358,998

5,535
2,568
16,815

14,916
14,148
54,047

34,251
38,511
129,350

65,373
96,787
280,104

124,538
209,760
585,160

221,912
502,198
1,364,991

467,266
1,081,000
2,998,317

1,303,491
2,424,263
8,199,789

9,638,800
4,526,600
43,692,600

$7,423

$129

$787

$2,626

$6,145

$11,415

$40,756

$72,405

$168,930

687

342

404

1,861

ASSETS
Cash, balances with other banks, and cash
items in process of collection:

Total cash, balances with other banks,
and cash items in process of colSecurities:
Obligations, direct, of the U. S. Government.
Obligations fully guaranteed by the U. S.
Government...............................................
Obligations of States and their political
subdivisions................................................
Other securities.............................................
Total securities.......................................
Loans, discounts, and overdrafts (includ­
ing rediscounts) :
Commercial paper bought in open market..
Notes, bills, acceptances, etc., payable in
foreign countries
..................................
Acceptances of other banks payable in the
United States
.......................................
Pannrfincr Kanlra’ nnrn jU
'PPnfiinr'P!)
Loans to banks
.
.........
Loans to brokers and dealers in securities:
In New York City
Elsewhere...................................................
Loans on farm land.......................................
Loans on other real estate............................
Agricultural loans (excluding loans on farm
land)...........................................................
Commercial and industrial loans..................
All other loans:
On securities .............................................
Otherwise secured and unsecured.............
Overdrafts......................................................
Total loans, discounts, and overdrafts
Total loans and securities..




59
284
234
477

7

89

2

66

84

80

2

50
168

$3,684,193 $24,608,800

122

254

613

400
53
904

1,949

30,807
23,702
29,228

995
2,687
62,958
476,308

17,228
10,506
92,291
1,062,114

128,982
54,860
116,526
2,518,386

$1,036,000
44,800
446,200
25,330,400
1,234,400

1
22

44

1,937
893
31,778
114,102

5,871
3,240

14,436
9,842

1

73
26,892
26,394

218
45,208
68,890

189
1,270
57,742
182,981

38,738
35,677

21,932
3,313

32,742
7,050

41,718
15,700

49,269
31,016

45,291
63,489

35,653
147,448

29,810
298,620

23,667
676,684

41,643
94,304
266
367,815

709
11,705
107
47,090

26,439
116
93,768

2 ,2 0 0

7,156
49,587
158
170,524

20,927
96,834
351
319,224

72,532
171,750
754
608,192

183,647
264,817
315
1,217,628

455,861
753,456
1,367
2,797,810

1,464,403
1,743,614
754
6,980,947

$726,813

$63,905

$147,815

$299,874

$599,328

$1,193,352

$2,582,619

200

3 ,1 2 1 ,0 0 0
2,086,400
600
33,300,000]

$5,796,127 $15,180,736 j$76,992,600

CORPORATION

2 ,0 2 1

INSURANCE

2,151

DEPOSIT

587

FEDERAL

7,442

Miscellaneous assets:
Banking house, furniture and fixtures. . . .
Other real estate owned............................
Customers* liability on account of accept­
ances ................................ .....................
Borrowed securities...................................
Other assets...............................................
Total miscellaneous assets...............
Total assets..........................................

$25,235
23,754

$3,317
2,380

$4,985
3,004

$8,602
5,256

$17,229

354
36
4,265
53,644

1
2

5
37
338
8,369

20

313
6,013

43
616
14,537

$992,988

$97,070

$211,063

$314,622
421,134
86,261
2,707
4,192
13,372

$41,705
19,012
8,937
44
285
707

$88,194
61,166
20,970
158

6,234
848,522
407,016
441,506

288
70,978
50,445
20,583

$2,074
36

$128

$40,700
31,118

$97,000
85,297

47
7
1,596
31,767

46
115
3,383
75,362

735

2,051

35,386

3,200

‘ 11,605
194,637

62,304
563,228

248,877
1,859,070

247,600
4,266,000

$417,543

$814,563

$1,620,651

$3,447,938

$7,894,671 $21,499,596 $97,446,000

856

$162,873
147,123
41,000
400
2,672
1,576

$282,426
326,963
75,492
932
5,680
4,441

$532,292
689,810
140,084
2,192
8,199
12,504

$1,031,626
1,576,074
249,443
7,504
11,003
41,682

$2,335,291
3,594,038
573,342
33,924
19,304
121,367

859
173,071
108,980
64,091

2,075
357,719
203,410
154,309

4,611
700,545
859,347
841,198

9,963
1,395,044
676,544
718,500

24,469
2,941,801
1,292,915
1,648,886

56,000
6,733,266
2,950,189
8,783,127

134,175
18,142,965
8,594,825
9,548,140

$329
37

$440
43

$2,481
115

$4,218

$5,861

$146,912

696

1,594

2,960

734

2,123

$21,800

20

689
1,249
9,846
18,962

1,291
3,392
51,127
62,405

36,175
5,930
129,842
320,982

3,200
17,600
260,200
302,800

1 2 ,8 8 8

$207,861
291,012

$699,790
875,017

$1,813,800
2,201,400

Total liabilities (excluding capital
account)............................................

Total liabilities and capital accou nt..

516

30

3,342
6,684

78
191
399

114
349
859

212

728
1,502

336
1,987
4,045

44
610
4,241
9,085

$855,206

$71,377

$173,930

$359,221

$704,590

$1,404,129

$2,960,763

$79,985
34,359
14,531

$19,707
3,867
1,600

$25,919
6,677
3,264

$38,422
11,514
5,771

$68,515
23,932
11,522

$131,055
50,354
22,439

$274,372
115,745
56,297

$608,228
314,747
114,937

$1,427,000
1,009,719
326,070

$3,966,400
3,421,400
1,215,000

7,405

356

870

1,909

4,732

9,625

35,082

52,784

247,772

711,800

1,502
137,782

163
25,693

403
37,133

706
58,322

1,272
109,973

3,049
216,522

5,679
487,175

8,304
1,099,000

25,088
3,035,649

82,200
9,396,800

$992,988

$97,070

$211,063

$814,563

$1,620,651

$3,447,938

$417,543]

$6,795,671 $18,463,947 $88,049,200

because of the small number of banks, the figures for this group are not necessarily typical of banks with deposits of over $50,000,000.
^Excludes the following insured banks not members of the Federal Reserve System: 2 national banks in Alaska; 1 national bank in the Virgin Islands; 9 State banks in
the District of Columbia; and 2 other State banks.
’Includes agreements to repurchase securities sold.
Back figures—See the following Annual Reports: 1936, p. 144; 1935, p. 178; 1934, p. 200.




119

$7,894,671 $21,499,596 $97,446,000

BANKS

Capital account:
Capital stock, notes, and debentures...........
Surplus...........................................................
Undivided profits—net.................................
Reserve for contingencies and undeclared
dividends....................................................
Retirement fund for preferred stock, capital
notes, and debentures...............................
Total capital account............................

2

936,600
87.746.400
23,112,000
64.634.400

O OPEEATING
F

Miscellaneous liabilities:
Bills payable, rediscounts, and other lia­
bilities for borrowed money3 .....................
Securities borrowed.......................................
Mortgage bonds and participation certificates
outstanding................................................
Acceptances outstanding executed by or for
the account of reporting banks.................
Dividends declared but not yet payable. . . .
Other liabilities..............................................
Total miscellaneous liabilities.............

868

$6,017,368 $14,663,400
8,936,193 62.549.400
2,125,211
6,785,800
128,667
624,000
66,807
734,544 ’ ‘2,187,200

LIABILITIES

Deposits:
Individuals, partnerships, and corporations:
Demand.................................................
Time.......................................................
States and their political subdivisions. . . .
United States Government.......................
Postal savings............................................
Other banks...................................................
Cash letters of credit, certified, officers’ , and
travelers’ checks outstanding....................
Total deposits.........................................
Demand..................................................
Time.......................................................

ASSETS A D
N

LIABILITIES AND CAPITAL

T a b le 121.

PERCENTAGE DISTRIBUTION OP ASSETS AND LIABILITIES OP OPERATING INSURED COMMERCIAL BANKS NOT MEMBERS
o f t h e F e d e r a l R e s e r v e S ystem , D e c e m b e r 31, 1937
BANKS GROUPED BY AMOUNT OP DEPOSITS
All
banks

Number of banks2 ..................................

$1 0 0 ,0 0 0
and
under

$1 0 0 ,0 0 0
to
$250,000

7,442

587

2,151

$250,000
to
$500,000
2 ,0 2 1

Obligations of States and their political
subdivisions................................................
Other securities.............................................
Total securities.......................................

(As percent of total assets)

.2

2 2 .8
.2

2.9
21.5
.3

21.4

28.0

26.0

24.7

13.4

6.3

8 .1

2.7
5.7

3.7
24.1

.8

4.1

3.0

19.5

19.5

20.7

16.6

14.4

15.4

17.2

25.2

4.2

4.2

3.0

3.6

5.1

6.5
14.5
39.6

5.9
13.7
38.0

6 .1
1 1 .2

38.1

9.9
4.6
44.8

1 .2

.9

.8

22.5

21.7

9.4

1 0 .1

3.7

4.2

4.4

7.1

8 .2

8 .0

7.3
11.5
36.3

6 .6

17.3

25.5

9.3
31.1

11.9
34.4

.8

.1

.4

.6

.8

.7

2 .6

6 .1

.2
.1

3.9
3.6
4.2
9.5

2.7
15.6

.1

5.5
8.5

3.6
11.3

6 .8

3.3

4.7

6.4
6.3

2 2 .6

15.5
3.4

1 0 .0

6 .0

2 .8

3.8

3.8

3.9

1 .1

1.7
11.9

2 .6

11.9

4.5

3.4
.7

12.5

Total loans, discounts, and overdrafts

37.0

48.5

44.5

40.8

Total loans and securities.................

73.3

65.8

70.0

71.9

73.6

.1
1 .8

.2
.1
1 .2

.6

.3
.6

1.1
.1

.4
26.0

13.8

13.5

11.7

4.3

1 .0

.4
3.8

3.2

1.3

5.4
7.7

5.8
9.5

6 .8
8 .1

3,2

37.6

39.2

.1

1 .6

.1
.1
.1

.1

1 2 .1
.1




13.3
1.7

2 .8

15.8
.9

7.7
12.9
36.1

3.2
11.5
Agricultural loans (excluding loans on farm
land)
.................
Commercial and industrial loans..................
All other loans:
On securities..............................................
Otherwise secured and unsecured.............

2.5
16.9
1.3

11.3

2 .8

.6

.1

Loans to brokers and dealers in securities:
t_Vn.u /'■ T
'sx -

1 .2

2.9
18.2

19.3
.4

2.7
17.9

35.3

35.4

32.5

34.2

73.7

74.9

73.4

70.6

79.0

1 0 .6
.1

.1

|

.1

2 .1

CORPORATION

Loans, discounts, and overdrafts (includ­
ing rediscounts):
Commercial paper bought in open market..
Notes, bills, acceptances, etc., payable in
foreign countries........................................
Acceptances of other banks payable in the

377

INSURANCE

Securities:
Obligations, direct, of the U. S. Government
Obligations fully guaranteed by the U. S.

788

DEPOSIT

Balances with banks.....................................
Cash items in process of collection...............
Total cash, balances with other banks,
and cash items in process of col-

1,377

$5,000,000 $1 0 ,0 0 0 ,0 0 0
Over
to
$50,000,000
to
$1 0 ,0 0 0 ,0 0 0 $50,000,000
0)
5
79
57

FEDERAL

ASSETS
Cash, balances with other banks, and cash
items in process of collection:

Banks with deposits of—
$1 ,0 0 0 ,0 0 0 $2 ,0 0 0 ,0 0 0
$500,000
to
to
to
$1 ,0 0 0 ,0 0 0 $2 ,0 0 0 ,0 0 0 $5,000,000

Miscellaneous assets:
Banking house, furniture and fixtures.........
Other real estate owned................................
Customers’ liability on account of accept­
ances ..........................................................
Borrowed securities.......................................
Other assets...................................................
Total miscellaneous assets...................
Total assets...................................

2.5
2.4

3.4
2.5

2.4
1.4

2 .1
1 .2

2 .1
1 .6

2.5
1.9

.4
5.3

.3

.2

3.4

.2

3.9

.2

6 .2

4.0

.1

1 0 0 .0

1 0 0 .0

1 0 0 .0

1 0 0 .0

31.7
42.4
8.7
.3
.4
1.4

43.0
19.6
9.2

41.8
29.0
9.9

39.0
35.3
9.8

.1

.1
.6

.6

44-5

.3
73.1
52.0
21.1

.2

.1

1.9

2.5

3.7

3.2
4.1

4.6

.3
5.6

.8

7.1

1 .2

8.7

.3
4.4

1 0 0 .0

1 0 0 .0

1 0 0 .0

1 0 0 .0

1 0 0 .0

1 0 0 .0

34.7
40.1
9.3

32.9
42.6

29.9
45.8
7.2

28.0
41.6
9.9

15.0
64.1
7.0
.7

.6

2 .8

2 .6

2 .2

.2

85.5
4 1.0

.3
.7

.4
.4

.4
82.0
51.6

.4

.1

.7
.5

.3

.8

1 .2

.6
8 6 .1

.7
85.3
37.5
±7.8

.7
85.3
37.4
47.9

84.4
40.0
44-4

.1

.7

.2

30.4

44-1
41.9

U .8
u .s

.2

.1

.1

.2

.1

.1

.1

.1

.2

.3

.7

.6

.6

.8

1.5

.3
.3

8 6 .1

85.9

90.3

6 .6

.4

.4

.3

.5

Total liabilities (excluding capital
account)..........

8 6 .1

73.5

82.4

8 6 .0

86.5

8 6 .6

85.9

8 .1

20.3
4.0

12.3
3.2
1.5

9.2
1.4

8.4
2.9
1.4

8 .1

2 .8

7.9
3.4

notes, and debentures...
Total capital account.

.1

.1
.2

.1
.1

.2

.i
.2

.2

1 .0

90.0
23.7
66.3

.1

.5

1 .6

7.7
4.0
1.4

1 .6

4.1
3.5
1.3

.7

.4

.4

.4

.6

.6

1 .0

.7

1 .1

.7

.2

.2

.2

.2

.2

.2

.2

.1

.1

.1

13.9

14.1

9.7

3.5
1.4

13.9

1 .6

26.5

17.6

14.0

13.5

3.1
1.4

13.4

14.1

4.7

Total liabilities and capital a ccou n t..
1 0 0 .0
1 0 0 .0
1
1 0 0 .0
1 0 0 .0
1
1 0 0 .0
1 0 0 .0
1
I
1 0 0 .0
1
I
1 0 0 .0
1
1 0 0 .0
1 0 0 .0
i
because of the small number of banks, the figures for this group are not necessarily typical of banks with deposits of over $50,000,000
Excludes the following insured banks not members of the Federal Reserve System: 2 national banks in Alaska; 1 national bank in the Virgin Islands; 9 State banks in
the District of Columbia; and 2 other State banks,
includes agreements to repurchase securities sold.
Back figures—See the following Annual Reports: 1936, p. 146; 1935, p. 180; 1934, p. 202.




BANKS

.6
8 6 .0

.6

Capital account:
Capital stock, notes, and debentures..
Surplus.................................................
Undivided profits—net........................
Reserve for contingencies and undeclared
dividends..........................................

2 .2

.5
85.7
48.7
37.0

Miscellaneous liabilities:
Bills payable, rediscounts, and other lia­
bilities for borrowed money3 .....................
Securities borrowed.......................................
Mortgage bonds and participation certificates
outstanding................................................
Acceptances outstanding executed by or for
the account of reporting banks.........
Dividends declared but not yet payable
Other liabilities......................................
Total miscellaneous liabilities.. . .

.3

.6

.3
3.4

O OPERATING
F

.5

29.6
45.5
7.3
.4
.3
1.5

8 .6
.1

A D LIABILITIES
N

Deposits:
Individuals, partnerships, and corporations:
Demand............................................
Time.................................................
States and their political subdivisions.
United States Government..................
Postal savings.......................................
Other banks.........................................
Cash letters of credit, certified, officers’ , and
travelers’ checks outstanding...........
Total deposits................................
Demand.........................................
Time..............................................

ASSETS

LIABILITIES AND CAPITAL

to

122

FEDERAL DEPOSIT INSURANCE CORPORATION

CAPITAL INVESTMENT OF THE RECONSTRUCTION FINANCE
CORPORATION
Table 122. CAPITAL INVESTMENT OF THE RECONSTRUCTION FINANCE CORPORATION
in O p e r a t in g I n s u r e d C o m m e r c ia l B a n k s , D e c e m b e r 31,1937
BY CLASS OF BANK IN EACH STATE AND POSSESSION
(Amounts in thousands of dollars)
All b
No. of
banks
United States and
possession—total..
State
Alabama....................
Arizona......................
Arkansas....................
California...................
Colorado....................

Banks not mem­
bers F. R.
National
State
System
No. of
No. of
No. of
Amount banks Amount banks Amount banks Amount
Banks members F. R. System1

4,865 547,923
48
3
93
77
51

12
2

5,994
1,323
1,214
14,437
2,256

078
317
2,343
1,625
3,134

15
4

3,272
130
993
882
1,083

8

9,773
1 348
3,612
26.004
2 992

Connecticut..............
Delaware..................
District of Columbia..
Florida.......................
Georgia......................

37

Idaho.........................
Illinois........................
Indiana......................
Iowa...........................
Kansas.......................

22

167
234
118
169

1,782
44.897
11,278
6,430
4,122

Kentucky...................
Louisiana...................
Maine.........................
Maryland...................
Massachusetts............

99
85
23
61
45

Michigan....................
Minnesota..................
Mississippi.................
Missouri.....................
Montana....................

10

7
39
67

1,622 261,697

6

16
40
29

2
12

14

108
38
39
40

926
40.927
3,523
3.439
1,781

6,587
8,142
5,247
7,368
9,745

25
13

2,290
3,511
1,473

156
190
136
171
40

31,637

43

8 ,6 8 6

66

Nebraska....................
Nevada.............
New Hampshire.
New Jersey.................
New Mexico...............

119
3
5
191
17

4,224
103
241
64,675
612

New York..................
North Carolina..........
North Dakota.. . .
Ohio..........................
Oklahoma...................

334
99
281
36

64,815
5,973
2,337
55,556
3,206

185
17

Oregon........................
Pennsylvania.............
Rhode Island..........
South Carolina.......
South Dakota.............

34
251
4
32
91

1,057
37,536
729
2,009
3,004

7
171
3
5

Tennessee...................
Texas..........................
Utah...........................
Vermont...................
Virginia......................

110

318
33
40
116

11,165
20,935
2,276
7,313
7,052

24
126
7

Washington................
West Virginia.............
Wisconsin...................
Wyoming...................

69
76
329
17

3,064
4,223
24,880
980

16
29
45

Possession
Virgin Islands.............

1

123

111

7,725
7,377
1,586

11
11

26
15

22

14

43
2

4
123
6

22
68

30

22

8

28

6

316 114,976
4

2,968

32

5
3

605
1,870
223

f 72
34

1

2

1
2

582
215
592

3

631
1,755
1,514
946
109

5

11

9
5
4

4
4

1,355
1,853
878
1,965
1,494

15,339
6,440
2,268
2,371
508

33

9,725

1

22

19
5

2 ,2 2 0

2,942
74
141
25,755
340

2

69

2 ,1 2 1

6,135

2,927 171,250

4
4
2

20
22
6

2,806
187
768
528
1,459

11

225
2,215
6,241
2,045
2,232

70

2.942
2J78
2,896
3,282
2,116

4
25
48

48
187
74
125
68
10

46
15
80
123
121

645

811
25
1,793
9,697
513

130
21

74
1
1

6,573
2,224
5,457
2,786
433
1,213
29
100

2

16,282
29

42
9

22,638
243

21,547
1,116
1,204
20,341
3,148

46
3

26,293
1,650

27

22,728

1

8

103
91
77
186
5

16,975
3,207
1,133
12,487
50

176
14,457
480
1,336
2,089

3
15

39
8,718

24
65

842
14,361
249
673
761

7,037
15,699
944
428
1,699
1,930
1,943
11,839
396

26

1

4

154

27
65

2
10

215
383
877

2

1,823

84
174
16
32

7
4

442
383
2,664
52

18

12
2

86

3,913
4,853
455
6,885
3,530

46
43
272
9

692
1,897
10,377
532

1

123

*Data concerning national and State banks members of the Federal Reserve System were obtained
from the Report of the Reconstruction Finance Corporation for the Fourth Quarter of 1937.
Back figures—
-See the following Annual Reports: 1936, p. 162; 1935, p. 196; 1934, p. 219.




CAPITAL INVESTMENT RECONSTRUCTION FINANCE CORPORATION 123

Table 123.

DISBURSEMENTS AND RETIREMENTS OP RECONSTRUCTION FINANCE
C o r p o r a t i o n C a p it a l o p O p e r a t in g I n s u r e d C o m m e r c ia l B a n k s
n o t M e m b e r s o p t h e F e d e r a l R e s e r v e S y stem D u r in g 1937
in e a c h s t a t e a n d po ssessio n

R. F. C.
capital
outstanding
Dec. 31,19361
United States and posses­
$192,491,481
sion—total.................

Disburse­
ments3

$209,250

Other
Retirements2 deductions3

$16,342,065

R. F. C.
capital
outstanding
|Dec. 81, 1937

$5,108,287 $171,250,379

State
Alabama............................
Arizona.............................
Arkansas...........................
California..........................
Colorado...........................

1,020,965
24,967
1,970,240
1 1 ,2 1 1 ,2 0 0
575.000

209,714
4
162,373
1,514,008
36,900

Connecticut.......................
Delaware...........................
District of Columbia.........
Florida..............................
Georgia..............................

2,904,168
209.000
1,444,700
546,365
1.618.500

98,057
32,000
18,310
129.450

” 30,666

2,806,111
187.000
768.000
528,055
1,459,050

Idaho.................................
Illinois...............................
Indiana.............................
Iowa..................................
Kansas...............................

230.000
3.110.550
7.450.000
2,295,600
2,533,222

4,850
728.450
521,775
200,415
278,980

167,500
761,925
50,000
47,500

225,150
2,214,600
6,240,550
2,045,185
2,231,742

Kentucky..........................
Louisiana..........................
Maine................................
Maryland..........................
Massachusetts...................

3,105,900
3.476.000
2,919,619
3,497,200
2.575.000

14,205
418,885
23,342
164,738
358,840

150,000
278,750

Michigan...........................
Minnesota.........................
Mississippi........................
Missouri............................
Montana...........................

7,400,780
2,582,300
5,687,400
3,289,450
585.000

708,020
358,400
230,614
212,193
117,300

119,800
326,107
35,000

Nebraska...........................
Nevada.............................
New Hampshire................
New Jersey........................
New Mexico......................

1,513,058
30.000

290,304

9,705

1,213,049
29,000

23,022,192
247.500

284,076
14,175

1 0 0 ,0 0 0

22,638,116
243,325

New York.........................
North Carolina.................
North Dakota...................
Ohio...................................
Oklahoma..........................

21.599.500
3,496,750
1.224.000
14,032,000
50.000

4,489,850
289,265
31.800
1,134,600
125

135,000

16,974,650
3,207,485
1,132,700
12,487,500
49,875

Oregon...............................
Pennsylvania.....................
Rhode Island....................
South Carolina..................
South Dakota....................

931.000
14,954,067
250.000
712,300
882.500

27.300
392,599
1,250
39,600
47.800

Tennessee..........................
Texas.................................
Utah..................................
Vermont............................
Virginia.............................

4.001.550
5.733.500
470.000
7.110.000
4,102,938

63,875
405,945
15,000
224,550
408,018

25,000
485,000

Washington.......................
West Virginia....................
Wisconsin..........................
Wyoming...........................

1.067.500
2.166.000
11.859.500
548.500

285,585
201,175
1,112,800
16.300

89,200
113.000
370.000

Possession
Virgin Islands....................

124,000

15,000
‘ 2 5 ,6 0 6

2 2 ,0 0 0

74,250
‘ 2 5 ,6 6 0

35,000

644,700

50,000
1 0 0 ,0 0 0

1 ,0 0 0

1 0 0 .0 0 0

1 0 ,0 0 0

1 0 ,0 0 0

1 0 ,0 0 0

45,000

1,250

811,251
24,963
1,792,867
9,697,192
513,100

2,941,695
2,778,365
2,896,277
3,282,462
2,116,160
6,572,960
2,223,900
5,456,786
2,786,150
432.700

1 0 0 .0 0 0

69,500
409,900
62,200
2 0 0 ,0 0 0

73,500

165.000

841,500
14,361,468
248,750
672.700
761.200
3,912,675
4,852,555
455,000
6,885,450
3,529,920
692,715
1,896,825
10,376,700
532.200
122,750

VRevised.
3
Excludes changes due to conversion of preferred stock loans to capital notes and debentures.
*Due to changes in charter jurisdiction, insured status, etc.
Back figures—See the following Annual Reports: 1936, p. 163; 1935, p. 197.




EXAMINERS’ ANALYSIS OF INSURED BANKS

Table 124.

CAPITAL RATIOS OF OPERATING INSURED COMMERCIAL BANKS NOT MEMBERS OF THE FEDERAL RESERVE
S y stem , E x a m in a tio n s O c t o b e r 1, 1933, t o D e c e m b e r 31, 1937
BANKS GROUPED BY AMOUNT OF DEPOSITS AND BY STATE

1934

1935

1936

1937

>1933

1934

1935

1936

1937

U933

1934

1936

1935

1937

14.0

14.4

13.1

1 1 .2

15.8

16.6

17.1

15.3

45.1

67.2

76.5

90.9

92.3

2 2 .8

14.0
10.4

25.2
18.2
15.1

24.7
17.7
15.1

23.8
17.3
14.5

23.5
16.7
13.5

31.8
17.2

34.5
22.5
17.9

33.5
21.9
17.9

31.6
2 1 .2

17.1

31.3
20.3
15.7

69.0
60.1
52.1

80.6
81.1
77.3

83.8
87.5
86.4

85.8
92.7
95.2

87.5
91.8
94.7

8.4
7.9
9.3

13.4
13.1
12.7

13.7
13.9
13.1

14.1
14.0
14.1

13.1

1 0 .6

15.9
15.4
14.8

16.0
16.4
15.4

16.6
16.6
16.6

15.2
14.6
14.8

40.7
37.7
42.3

68.9
67.3
62.7

82.8
77.2
71.8

94.5
90.6
89.3

93.2
90.5
90.6

1 0 .0

13.0

J 14.2
13.5 1 14.1

2 .6

6 .2

J 17.3
16.1 i 16.9
11.5
14.6

16.2
14.9 [■ 44.0
19.6
1 2 .2

61.5
43.9

6 6 .2

97.1

94.1
101.5

State
Alabama.............................
Arizona...............................
Arkansas............................
California...........................
Colorado............................

18.4
(4
)
14.5
5.5
4.7

21.5
(4
)
18.8
9.7
11.4

25.3

23.5
11.9
18.4
16.5
11.5

21.5
9.6
16.8
14.5
9.3

61.2
(4
)
59.7
45.8

84.9
(4
)
83.0
80.7
72.4

90.6
108.0
85.3
92.6
78.7

99.3
112.4
89.2
107.7
88.4

108.4
89.9
113.6
87.7

Connecticut........................
Delaware............................
District of Columbia.........
Florida...............................
Georgia...............................

9.3
12.3
(4
)
16.9
18.1

12.7
16.8
(4
)
15.9

15.7
23.2
(4
)
16.9

15.7
19.6
(5
)
15.3
21.7

50.7
60.8
(4
)
71.9

69.9
77.9
(4
)
88.7
86.5

77.2
87.4
(4
)
96.5
90.5

89.1
100.3
(4
)
102.5
98.2

90.0
90.5
(5
)
100.3
99.5

Idaho..................................
Illinois................................
Indiana...............................
Iowa...................................
Kansas...............................

1 2 .6

85.2

92.5
95.9
75.5
95.1
90.7

1 0 1 .1
1 0 2 .1

1 0 1 .6

Banks with deposits of - 2
$1 0 0 ,0 0 0 and under...........
$100,000 to $250,000.........
$250,000 to $500,000.........
$500,000 to $1,000,000___
$1 ,0 0 0 ,0 0 0 to $2 ,0 0 0 ,0 0 0 ...
$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*..............




14.8
5.7
10.9
11.3

2 0 .8

12.4
16.0
1 1 .6
1 2 .1
1 2 .6

1 2 .6
1 2 .8

13.6

1 2 .2

9.8
9.2
[ 11.5

15.1

1 0 .2

1 2 .6

10.7

2 .6

6 .6

19.6

18.8

1 0 .8

1 0 .6

17.6
8.7
14.4

23.9
(4
)
18.2
5.9
5.1

28.1
(4
)
23.5
10.7
1 2 .8

1 2 .2

10.7
14.3
(4
)

14.8
19.8
(4
)
19.0
28.0

14.6
19.8
(4
)
18.5
24.9

2 2 .1

14.0
19.0
13.3
13.7
14.4

13.6
18.2
13.5
12.4
14.6

13.1
16.3
13.6
11.9
14.4

17.2
12.7
10.9

15.4
14.0
10.3

1 2 .6

1 2 .8

16.4
(4
)
15.5
19.0

18.5
(4
)
14.4
17.9

1 2 .6

1 2 .6

8.5

13.5
16.3
(5
)
13.3
17.6

11.9
15.3
11.5

1 1 .6

14.0
11.7

11.4
12.3
11.3

1 1 .0

1 0 .6
1 2 .6

1 0 .0
1 2 .1

12.7

2 1 .0

24.0
14.7
18.1
6.5
12.7
1 2 .8

1 2 .1

20.9
14.7

12.9
14.1
1 2 .8
1 1 .2

13.9

2 2 .6

6 8 .2

62.0
56.5
29.2
69.4
60.9

8 8 .1

64.8

8 8 .8

79.2

69.4

J

87.5

85.9
103.8
97.0

8 6 .8

1 0 0 .2

99.9
8 8 .6

98.9
96.3

CORPORATION

13.5

INSURANCE

9.6

United States—total..........

DEPOSIT

»1933

Total capital account

Total deposits

Appraised value of assets

FEDERAL

Net capital account as percent of—

Kentucky.........
Louisiana.........
Maine..............
Maryland.........
Massachusetts.

13.1
1 1 .2
1 .2
1 2 .1

7.6

16.2
19.1
3.2
14.9
1 1 .6

14.0
14.8
13.2
14.6
12.9

16.2
14.0
1.3
14.4
8.7

19.6
24.2
3.3
17.8
13.2

9.9
11.9
14.2

11.4

1 0 .2

1.5
10.5
9.4

1 1 .0

1 1 .8

1 1 .2

13.3

10.9
12.5
10.9
13.0

17.8
2 2 .2

11.7
17.6
14.5

18.1
19.9
14.2
19.4
16.4

16.5
17.5
15.4
17.2
14.9

57.4
48.2
7.6
56.0
41.4

1 1 .8
1 2 .2

6 6 .1

2 1 .8

70.4
62.2

83.8
89.5
45.1
78.7
70.6

51.2
51.6
51.5

58.3
87.8
83.7
81.8
81.0

67.7
96.0
92.9
85.1
89.0

90.0
105.4

80.7
79.1

93.2
1 0 0 .6

59.9
97.5
85.5

93.1
104.9
67.4
100.3
85.5

Missouri.
Montana.

10.3
1 2 .2

9.8
11.9
14.7
13.2
15.1

Nebraska.............
Nevada4 ...............
New Hampshire4.
New Jersey..........
New Mexico........

1 1 .6

14.2

13.8

14.0

13.7

13.2

5.4
.9

5.1
9.2

7.9

10.7

.9

8 .8

8 .6

9.9
8.7

6 .0

8 .8

1 0 .2

9.7

12.3
9.4

11.3
9.5

19.0
5.8

22.3
75.8

35.9
87.3

62.3
95.7

64.4
99.4

8.7

14.8
14.8
10.9
15.2

14.9
15.6
13.6
14.9
11.7

15.4
13.9
14.5
14.8

13.3
13.8
13.8
13.3
11.3

9.9
13.9
7.7
8.3

17.7
17.9
12.3
18.0
13.2

18.2
19.2
15.9
17.7
13.3

18.9
16.7
16.9
17.4
13.2

16.1
16.5
16.1
15.5

61.5
88.9
37.9
74.3
85.3

68.4
99.4
53.5
80.7
94.5

84.0
107.0
6 6 .6

1 2 .8

37.6
64.5
27.6
41.4
62.8

93.8
99.2

90.0
104.4
74.8
94.5
98.3

64.5

93.0
72.7

105.6
93.0

99.8
91.5

8 8 .0

91.4
75.2

97.5
79.4

96.9
81.2

6 6 .2

70.8
83.6
96.3
46.3
80.8

90.9
102.7
59.6
85.8

8 6 .1

84.8
95.6
107.6
72.7
85.2

insured

15.2
16.5
12.4
16.0
14.0

o
f

15.0
18.0
10.5
14.7
12.5

95.7
63.5
76.9
79.2

107.8
70.8
95.4
87.7

104.3
75.1
91.2
91.6

Michigan..
Minnesota.

1.4
9.5
8 .1

1 1 .6

6.7
7.3
9.7

1 1 .6

13.1

1 1 .6

16.0

53.2

89.0

5.7

1 0 .8

11.7

45.9
55.7

14.7

9.8
14.0

8.4

1 1 .0

1 2 .2

1 2 .1

15.0

18.6

12.5
17.2

10.9
16.4

50.6
46.1

11.7
18.4
14.5
15.5
15.7

13.1
16.5
14.9
18.1
14.8

13.6
15.8
15.6
18.4
13.9

16.5
16.6
9.3
13.6
17.7

14.7
23.4
16.3

13.4
2 2 .8

15.4
19.9
17.6

16.0
18.8
18.5
22.7
16.8

66.4
68.5
38.7
104.1
61.3

15.3
13.8
13.0
11.3

14.3
14.3
14.3
11.9

1 2 .6

14.0

17.0
11.5

1 2 .6
1 1 .2

6 .1
8 .8

14.6
16.4
14.4

66.3
40.6
31.5
41.2

9.9
12.9

1 0 .8

1 1 .1

13.0
14.1
8.3
13.6
13.9

1 2 .6

14.0
9.3
5.4
7.9

17.1
13.5

15.7

1 1 .8

7.7

1 2 .0
2 0 .6

20.3
15.9
13.6
13.7

17.2
18.6
19.8
18.2
16.2
15.1
1 2 .8

2 2 .2

18.5
16.8
16.8
16.7
13.6

1 2 .6

Examination for admission to insurance in 1933 and 1934.
*For 1933, 1936, and 1937, deposits are as of date of examination; for 1934 and 1935, deposits are as of December 31.
•Because of the small number of banks, the figures for this group are not necessarily typical of banks with deposits of over $50,000,000.
♦Figures are included in deposit groups and in total.
6
Not compiled.




57.0

80.2
75.7
35.8
76.1
8 8 .1

56.0
60.1

6 8 .1

96.8

1 0 1 .1

1 0 1 .8
1 0 1 .1

89.7
99.1

92.8
97.7

95.6

1 0 1 .6

98.3

banks

2 1 .6

7.5

1 1 .8
1 2 .1

16.3

13.5
26.1

20.3

Washington.. .
West Virginia.
Wisconsin.......
Wyoming........

16.1

12.3
24.1

18.8

18.8
13.9
10.4
16.7

16.4

15.1
23.2

1 1 .0

Tennessee.
Texas........
Utah.........
Vermont...
Virginia. . .

15.4

1 1 .6

7.9

2 2 .1

13.2
18.0

1 0 .2

1 2 .8

14.4
12.3
15.0

10.5
17.6

7.0
17.0

Oregon.............
Pennsylvania...
Rhode Island4..
South Carolina.
South Dakota..

11.5
13.6
16.9
13.6
17.2

13.3
13.9
15.2

14.1

13.4
17.7
15.4
17.8

e x a m in e r s ’ analysis

New York........
North Carolina.
North Dakota..
Ohio.................
Oklahoma........

14.7

1 2 .2

to
Cl

T a b le 125.

EXAMINERS' ANALYSIS OP CAPITAL AND LIABILITIES OP OPERATING INSURED COMMERCIAL BANKS NOT MEMBERS OP THE
F e d e r a l R e s e r v e System, L a t e s t E xam in ation in 1937

to
o

BANKS GROUPED BY AMOUNT OP DEPOSITS AND BY STATE
Liabilities (exclusive of capital
account)

Capital account
Net
deductions
or additions

Net
capital
account

39,901
361,755
737,784

707
3,609
4,820

142,739
150,205
153,607

941,020
950,214
118,350
121,467 1,040,445 1,031,507
126,824 1,043,660 1,034,666

9,194
8,938
8,994

12,498
8,760
769

82,229
139,553
51,928

65,688
123,212
38,765

521,094
969,482
432,340

508,685
935,320
426,201

12,409
34,162
6,139

9,823
541

1 ,8 8 8

8,249
1,609
7,280
44,125
2,470

16
137
922
7,889
370

9,167
1,771
8,246
61,287
2,641

8,265
1,746
6,358
51,464
2 ,1 0 0

43,032
18,702
49,116
425,400
28,512

42,540
18,457
48,951
422,284
28,475

492
245
165
3,116
37

16,218
9,885

2,794
197

13,424
9,688

1,617
938

14,601
8,947

11,807
8,750

93,340
45,969

92,800
45,724

540
245

97
183

9,041
15,331

536
1,466

8,505
13,865

80
75

9,071
15,256

8,535
13,790

59,252
71,998

59,172
70,171

80
1,827

419
341
412
254

20

1,215
41,484
43,772
25,886
13,718

230
2 ,2 0 1
6 ,2 1 0

1,608
2,274

985
39,283
37.562
24,278
11,444

20
61
5,010
278
510

1,235
41,423
38,762
25,608
13,208

1,005
39,222
32,552
24,000
10,934

9,557
295,170
305,618
229,757
95,458

9,555
293,550
302,219
229,436
95,280

1,620
3,399
321
178

268
107
17
97
38

25,801
14.252
7,884
18.252
19,309

2,883
2,850
2,761
3,088
2,400

22,918
11,402
5,123
15,164
16,909

1,778
699
2,573
63
2,797

24,023
14,951
5,311
18,315
16,512

21,140

147,603
85,754
34,811
107,260
111,292

145,972
85,410
34,439
106,301
110,831

1,631
344
372
959
461

999,547

156,457

843,090

564
2 ,1 1 0

2,065

14,270
79,922
122,425

2,133
10,824
17,545

12,137
69,098
104,880

1,781
6,527
6,457

12,489
73,395
115,968

$500,000 to $1,000,000...............................................
$1 ,0 0 0 ,0 0 0 to $2 ,0 0 0 ,0 0 0 ............................................
$2,000,000 to $5,000,000............................................

1,335
734
350

153,210
165,962
169,559

24,389
28,738
26,783

128,821
137,224
142,776

10,471
15,757
15,952

$5,000,000 to $10,000,000..........................................
$10,000,000 to $50,000,000........................................
Over $50,000,000........................................................

77
53
5

94,727
148,313
51,159

16,541
16,341
13,163

78,186
131,972
37,996

State
Alabama......................................................................
Arizona........................................................................
Arkansas.....................................................................
California....................................................................
Colorado......................................................................

124
5
154
89
50

9,151
1,634
9,168
53,948
3,011

902
25

Connecticut.................................................................
Delaware.....................................................................

37
24

Florida........................................................................
Georgia........................................................................
Idaho...........................................................................
Illinois.........................................................................
Indiana........................................................................
Iowa............................................................................
Kansas........................................................................
Kentucky....................................................................
Louisiana.....................................................................
Maine..........................................................................
Maryland....................................................................
Massachusetts.............................................................

Banks with deposits of—
$1 0 0 ,0 0 0 and under....................................................
$100,000 to $250,000..................................................
$250,000 to $500,000..................................................




10,356
62,571
98,423

1 2 ,1 0 1

2,550
15,227
14,112

40,608
365,364
742,604

2

CORPORATION

88,972

7,293

....

Total

INSURANCE

(In th<Dusands of dlollars)
765,656 6,105,811 6,016,839
922,113
77,434

Private
capital

DEPOSIT

Other
liabilities

R.F.C.
capital

United States—total.................

Net
private
capital
account

Deposits

Total

FEDERAL

of
banks1

Michigan.....................................................................
Minnesota...................................................................
Mississippi..................................................................
Missouri......................................................................
Montana.....................................................................

235
439
168
464
48

26,730
21,174
16,622
28,080
2,798

6,825
2,425
5,549
2,919
469

19,905
18,749
11,073
25,161
2,329

866

887
187
2,023
63

25,864
21,561
16,809
26,057
2,735

19,039
19,136
11,260
23,138
2,266

227,032
176,815
117,805
213,926
18,303

218,282
176,384
117,080
211,159
18,254

8,750
431
725
2,767
49

Nebraska....................................................................

224

9,295

1,403

7,892

154

9,141

7,738

57,360

57,258

102

3
93
14

58,395
970

13,494
243

44,901
727

20,781

37,614
964

24,120
721

341,206
10,106

334,282
10,104

6,924

178
174
116
362
163

113,426
22,958
4,324
54,544
5,898

17,769
3,272

11,288
1,004
1,091
2,993

102,138
23,962
3,233
51,551
5,796

84,369
20,690
2 ,1 2 2

12,893
50

95,657
19,686
3,213
41,651
5,848

38,658
5,746

664,967
150,169
20,132
335,210
45,243

634,037
145,054
20,076
332,687
45,165

30,930
5,115
56
2,523
78

40
290

3,537
133,063

845
7,061

2,692
126,002

6

3,531
121,737

2 ,6 8 6

11,326

114,676

30,157
569,143

30,106
562,546

51
6,597

2
86
111

5,737
4,541

707
777

5,030
3,764

179
854

5,558
3,687

4,851
2,910

51,137
22,573

50,910
22,516

227
57

218
284
27
33
160

16,046
22,417
4,499
16,474
23,325

3,381
5,171
462
6,942
3,802

12,665
17,246
4,037
9,532
19,523

2,446
981
842
4,504
3,461

13,600
21,436
4,841
11,970
19,864

10,219
16,265
4,379
5,028
16,062

85,947
114,179
26,196
52,956
122,547

85,040
113,811
26,099
52,632
118,063

907
368
97
324
4,484

82
74
444
23

4,196
13,043
43,691
1,740

754

3,442
11,032
33,162

181
3,248
3,827
146

4,377
9,795
39,864
1,594

3,623
7,784
29,335
1,056

30,223
60,067
276,743
12,659

30,055
59 ,8 6 6
275,920
12,627

201

10,529
538

2

New York...................................................................
North Carolina...........................................................
North Dakota.............................................................
Oklahoma...................................................................
Pennsylvania..............................................................
Rhode Island3 .............................................................
South Carolina...........................................................
South Dakota.............................................................
Tennessee....................................................................

2 ,0 1 1

1 ,2 0 2




banks

irThe number of banks examined during the year does not agree with the number of banks at the close of the year.
*Not compiled.
’Figures are included in deposit groups and in total.
NOTE: Italics indicate net addition to capital account*
Back figures—See the following Annual Reports: 1936, p. 148; 1935, p. 182.

168
823
32

insured

Washington.................................................................
West Virginia.............................................................
Wisconsin....................................................................
Wyoming....................................................................

102

2

o
p

Vermont......................................................................

1 ,1 1 1

6

e x a m in e e s ' analysis

New Jersey.................................................................
New Mexico...............................................................

Table 126. E x a m in e r s ’ A n a ly s is OP ASS3TS OF OPERATING INSURED COMMERCIAL BANKS NOT MEMBERS OF THE
F e d e r a l R e s e r v e System , L a t e s t E x a m in a t io n in 1937

£2

BANKS GROUPED BY AMOUNT OF DEPOSITS AND BY STATE
Total assets
Book
value

Estimated
net loss
and
doubtful2

Securities
Cash and
due from
banks

Appraised value
Total

Fixed
and sub­
standard

Not
criticized

7,030,000

1,109,856

564

2,065

54,878
445,286
865,029

1,737
6,447
6,947

53,141
438,839
858,082

9,766
66,570
118,916

43,375
372,269
739,166

15,585
121,352
223,785

$500,000 to $1,000,000........
$1 ,0 0 0 ,0 0 0 to $2 ,0 0 0 ,0 0 0 . .. .
$2,000,000 to $5,000,000....

1,335
734
350

1,103,424
1,206,407
1,213,219

10,642
15,427
15,691

1,092,782
1,190,980
1,197,528

163,756
189,653
204,767

929,026
1,001,327
992,761

$5,000,000 to $10,000,000...
$10,000,000 to $50,000,000. .
Over $50,000,000.................

77
53
5

615,821
1,117,795
483,499

11,998
7,244
775

603,823
1,110,551
484,274

114,745
188,951
52,732

State
Alabama...............................
Arizona.................................
Arkansas..............................
California.............................
Colorado...............................

124
5
154
89
50

52,183
20,336
58,284
479,348
31,523

26
1S2
891
7,SU0
362

52,209
20,468
57,393
486,688
31,161

Banks with deposits of—
$1 0 0 ,0 0 0 and under.............
$100,000 to $250,000...........
$250,000 to $500,000...........

2 ,1 1 0 '

Total

Sub­
standard

Not
criticized

25,157

2,609,368

329,495

2,279,873

8,687
113,340
270,405

85
592
2,206

8,772
113,932
272,611

1,566
17,956
38,366

7,206
95,976
234,245

258,787
262,991
241,632

381,657
445,232
478,526

i> m
1,276
1,87U

383,081
446,508
479,900

53,910
60,531
59,251

329,171
385,977
420,649

489,078
921,600
431,542

114,256
209,810
62,781

226,066
441,469
218,829

1,U80
10,1>62
6,258

227,546
451,931
225,087

33,546
55,302
9,067

194,000
396,629
216,020

6,549
1,900
8,482
57,153
3,178

45,660
18,568
48,911
429,535
27,983

15,631
7,787
23,038
52,258
11,965

10,161
6,673
13,440
202,065

10,373
6,832
13,539
210,512
8,286

2 ,0 1 2

515
3,216
5,559
1,019

8,361
6,317
10,323
204,953
7,267

8 ,2 2 1

212
159
99
8M 7
65

Connecticut..........................
Delaware..............................
District of Columbia3...........
Florida.................................
Georgia.................................

37
24

109,558
55,854

1,601
1,027

107,957
54,827

29,164
10,406

78,793
44,421

22,562
7,554

31,559
24,839

807
418

32,366
24,421

4,698
4,129

27,668
20,292

97
183

68,293
87,329

5U
474

68,347
86,855

10,266
15,235

58,081
71,620

21,806
24,216

25,061
16,928

8U
71

25,405
16,999

5,435
3,593

19,970
13,406

Idaho....................................
Illinois..................................
Indiana.................................
Iowa.....................................
Kansas.................................

419
341
412
254

20

10,772
336,654
349,390
255,643
109,176

20
32
4,949
272
463

10,792
336,622
344,441
255,371
108,713

562
42,548
50,284
27,962
7,752

10,230
294,074
294,157
227,409
100,961

3,469
91,392

3,696
137,894
129,940
79,381
30,344

us
2,126
561
U
52
717

3,739
140,020
130,501
79,833
31,061

158
11,300
11,852
7,420
1,028

3,581
128,720
118,649
72,413
30,033




8 6 ,2 1 2

63,778
33,341

CORPORATION

75,358

Appraised value

INSURANCE

7,105,358

Estimated
net loss
and
doubtful2

DEPOSIT

(In thousands of dollars)
5,920,144 1,510,979 2,584,211

7,293

United States—total............

Book
value

FEDERAL

Number
of
banks1

1,715
704
2,573
lh%
2,795

171,689
100,710
40,122
125,654
127,806

26,055
15,074
10,284
23.231
17,882

145,634
85,636
29,838
102,423
109,924

39,628
35,224
6,204
20,371
19,302

54,679
28,538
15,738
52,526
47,335

298
714
448
2,305
1,192

54,977
29,252
15,290
54,831
46,143

7,254
5,300
3,798
10,323
6,142

47,723
23,952
11,492
44,508
40,001

Michigan..............................
Minnesota............................
Mississippi............................
Missouri................................
Montana..............................

235
439
168
464
48

253,762
197,989
134,427
242,006
2 1 ,1 0 1

840
m
202
1,999
56

252,922
198,410
134,629
240,007
21,045

18,799
22,086
23,960
30,631
2,042

234,123
176,324
110,669
209,376
19,003

56,434
40,606
42,392
62,612
5,916

109,199
79,925
46,891
71,346
7,796

171
1,378
1,069
953
102

109,370
81,303
47,960
72,299
7,898

4,697
10,119
12,376
7,592
588

104,673
71,184
35,584
64,707
7,310

Nebraska..............................
Nevada4 ................................
New Hampshire4..................
New Jersey..........................
New Mexico.........................

224

66,655

137

66,518

5,466

61,052

22,525

16,727

322

17,049

888

16,161

3
93
14

399,601
11,076

20,310
5

379,291
11,071

92,486
631

286,805
10,440

64,598
4,635

156,474
2,646

2,053
47

154,421
2,693

26,397
108

128,024
2,585

New York............................
North Carolina....................
North Dakota......................
Ohio......................................
Oklahoma.............................

178
174
116
362
163

778,393
173,127
24,456
389,754
51,141

10,291
1,047
2,782
74

768,102
174,151
23,409
386,972
51,067

122,267
25,138
4,613
56,123
2,789

645,835
149,013
18,796
330,849
48,278

128,408
49,934
6,314
74,262
19,873

288,814
59,746
8,069
146,512
14,269

4,932
1,885
64
578
280

293,746
61,631
8,133
147,090
14,549

38,663
14,966
1,268
12,430
813

255,083
46,665
6,865
134,660
13,736

Oregon..................................
Pennsylvania........................
Rhode Island4 ......................
South Carolina.....................
South Dakota......................

40
290

33,694
702,206

7
11,157

33,687
691,049

3,561
165,893

30,126
525,156

7,396
105,373

11,585
306,647

181
779

11,766
307,426

300
59,024

11,466
248,402

2
86
1 11

56,874
27,114

170
836

56,704
26,278

4,019
4,730

52,685
21,548

19,620
6,733

17,519
7,719

160
20

17,679
7,699

1,826
1,530

15,853
6,169

Tennessee.............................
Texas....................................
Utah.....................................
Vermont........................ . ..
Virginia................................

218
284
27
33
160

101,993
136,596
30,695
69,430
145,872

2,302
1,336
su
4,452
3,424

99,691
135,260
31,039
64,978
142,448

21.796
17.538
2,134
23,625
26,185

77,895
117,722
28,905
41,353
116,263

25,455
46,856
7,307
5,598
28,548

22,118
33,929
9,345
24,581
31,490

207
180
462
628
112

22,325
34.109
9,807
23,953
31,602

5,091
4,458
461
4,065
4,409

17,234
29,651
9,3*6
19,888
27,193

Washington..........................
West Virginia.......................
Wisconsin.............................
Wyoming..............................

82
74
444
23

34,419
73,110
320,434
14.399

193
3,185
3,720

34.612
69,925
316,714
14,288

3,347
12,822
47.474 I
i
2,245 !

31,265
57.103
269,240
12,043

9,628
17.974
59,706
4,895

11,793
19,288
147,497
3.264 !

232
304
1,109
77 j

12.025
18,984
146.388
3,341

1,555
2,215
17,119
285

10,470
16,769
129,269
3,056




2

1,0 2 4

111

BANKS

173,404
100,006
42,695
125,512
130,601

O INSURED
F

268
107
17
97
38

EXAMINERS' ANALYSIS

Kentucky.............................
Louisiana..............................
Maine...................................
Maryland..............................
Massachusetts......................

CO

Table 126. EXAMINERS’ ANALYSIS OP ASSETS OF OPERATING INSURED COMMERCIAL BANKS NOT MEMBERS OF THE
F e d e r a l R e s e r v e S ystem , L a t e s t E x a m in a t io n in 1937—Continued

o

BANKS GROUPED BY AMOUNT OF DEPOSITS AND BY STATE
Miscellaneous assets

Loans, discounts, and overdrafts
Book
value

Estimated
net loss
and
doubtful2

Appraised value
Total

i
Not
| Sub|
1
1 standard | criticized

Total

Fixed
and sub­
standard

Not
criticized
38,945

3,613
20,876
34,211

538
2,070
2,455

3,075
18,806
31,756

2,901
17,072
29,838

174
1,734
1,918

336,131
348,548
324,764

52,246
65,673
77,650

3,402
5,802
5,083

48,844
59,871
72,567

43,907
56,060
66,851

4,937
3,811
5,716

37,264
55,656
23,538

175,544
303,439
149,086

54,541
96,129
27,679

5,328
6,414
3,897

49,213
89,715
23,782

43,935
77,993
20,127

5,278
11,722
3,655

23,345
4,870
18,537
200,306
10,048

1,959
638
3,479
29,265
1,415

21,386
4,232
15,058
171,041
8,633

2,893
975
2,422
24,305
949

33
u
143
693
87

2,860
979
2,279
23,612
862

2,578
747
1,787
22,329
744

282
232
492
1,283
118

1,853
390

45,102
20,365

16,852
3,995

28,250
16,370

8,482
2,706

555
219

7,927
2,487

7,614
2,282

313
205

18,113
39,476

244
365

17,869
39,111

1,947
5,520

15,922
33,591

3,313
6,709

46
180

3,267
6,529

2,884
6 ,1 2 2

383
407

3,329
92,067
111,859
106,868
41,674

15
1,687
3,150
682
750

3,314
90,380
108,709
106,186
40,924

158
17,370
21,676
15,103
3,819

3,156
73,010
87,033
91,083
37,105

278
15,301
21,379
5,616
3,817

471
2,360
42
430

8

270
14,830
19,019
5,574
3,387

246
13,878
16,756
5,439
2,905

24
952
2,263
135
482

421,677

564
2 ,1 1 0

2,065

26,993
189,718
336,628

1,284
4,969
6,698

25,709
184,749
329,930

5,299
31,542
50,712

20,410
153,207
279,218

$500,000 to $1,000,000........
$1 ,0 0 0 ,0 0 0 to $2 ,0 0 0 ,0 0 0 . . . .
$2 ,0 0 0 ,0 0 0 to $5,000,000....

1,335
734
350

410,734
432,511
415,411

8,664
10,901
11,982

402,070
421,610
403,429

65,939
73,062
78,665

$5,000>000 to $10,000,000...
$10,000,000 to $50,000,000. .
Over $50,000,000 ...............

77
53
6

220,958
370,387
174,210

8,150
11,292
1,586

212,808
359,095
172,624

State
Alabama...............................
Arizona...............................
Arkansas...............................
California..............................
Colorado...............................

124
5
154
89
50

23,498
4,901
19,384
200,720
10,388

153
31
847
414
340

Connecticut..........................
Delaware..............................

37
24

46,955
20,755

Florida..................................
Georgia.................................

97
183

Idaho....................................
Illinois..................................
Indiana.................................
Iowa......................................
Kansas..................................

419
341
412
254

20

CORPORATION

358,684

2,512,024

INSURANCE

397,629

65,526




Appraised value

34,989

2,577,550

Banks with deposits of—
$1 0 0 ,0 0 0 and under.............
$100,000 to $250,000...........
$250,000 to $500,000...........

Estimated
net loss
and
doubtful2

DEPOSIT

(In thousandIs of dollars)
432,618
2,090,347

7,293

inited States—total............

Book
value

FEDERAL

Number
of
banks1

268
107
17
97
38

71,948
30,842
17,956
46,237
55,335

1,589
158
1,435
887

70,359
30,684
16,268
44,802
54,448

13,508
4,681
4,158
7,936
4,356

56,851
26,003

1 ,6 8 8

1 2 ,1 1 0

36,866
50,092

7,149
5,402
2,797
6,378
8,629

424
1U
8
437
728
716

6,725
5,550
2,360
5,650
7,913

5,293
5.093
2,328
4,972
7,384

1,432
457
32
678
529

Michigan..............................
Minnesota............................
Mississippi............................
Missouri................................
Montana...............................

235
439
168
464
48

78,811
71,805
39,089
98,625
6,625

390
783
537
2,400
177

78,421
71,022
38,552
96,225
6,448

5,728
7,444
6,755
15,806
781

72,693
63,578
31,797
80,419
5,667

9,318
5,653
6,055
9,423
764

621
174
330
552
19

8,697
5,479
5,725
8,871
783

8,374
4,523
4,829
7,233
673

323
956
896
1,638

Nebraska..............................

224

25,565

343

25,222

3,041

22,181

1,838

116

1,722

1,537

185

New Jersey...........................
New Mexico.........................

3
93
14

127,518
3,537

9,686
39

117,832
3,498

27,545
319

90,287
3,179

51,011
258

8,571
13

42,440
245

38,544
204

3,896
41

New York.............................
North Carolina....................
North Dakota......................
Ohio......................................
Oklahoma.............................

178
174
116
362
163

301,946
57,735
8,357
150,467
16,042

10,985
835
890
2,553
301

290,961
56,900
7,467
147,914
15,741

37,262
5,911
2*066
26,549
1,292

253,699
50,989
5,401
121,365
14,449

59,225
5,712
1,716
18,513
957

4,238
26
221

54,987
5,686
1,495
17,706
904

46,342
4,261
1,279
17,144
684

8,645
1,425
216
562

Oregon..................................
Pennsylvania........................
Rhode Island4
South Carolina.....................
South Dakota.......................

40
290

12,987
218,635

128
6,441

12,859
212,194

1,714
46,020

11,145
166,174

1,726
71,551

60
5,495

1 ,6 6 6

66,056

1,547
60,849

119
5,207

2
86
1 11

18,009
11,147

162
580

17,847
10,567

1,957

868

16,979
8,610

1,726
1,515

168
236

1,558
1,279

1,325
1,243

233
36

o
f

Tennessee..............................
Texas....................................
Utah.....................................
Vermont................................
Virginia.................................

218
284
27
33
160

46,108
48,726
12,920
31,625
74,793

1,276
953
63
2,606
2,363

44,832
47,773
12,857
29,019
72,430

10,129
7,514
724
13,396
12,218

34,703
40,259
12,133
15,623
60,212

8,312
7,085
1,123
7,626
11,041

1,233
563
55
1,218
1,173

7,079
6,522
1,068
6,408
9,868

6,576
5,566
949
6,164
9,558

503
956
119
244
310

insured

Washington..........................
West Virginia.......................
Wisconsin..............................
Wyoming..............................

82
74
444
23

12,032
30,373
100,027
5,732

43
1,923
2,035
155

11,989
28,450
97,992
5,577

870
6,500
18,528
1,513

11,119
21,950
79,464
4,064

966
5,475
13,204
508

U
958
576
33

970
4,517
12,628
475

922
4,107
11,827
447

48
410
801
28

110

2

807
53

!
|
irThe number of banks examined during the year does not agree with the number of banks at the close of the year.
2
Total amount of assets classified as loss and doubtful less (1) appraised value of assets not shown on the books of the banks and (2) unrealized appreciation in a'ssets.
8
Not compiled.
4
Figures are included in deposit groups and in total.
NOTE: Italics indicate excess of appraised value of assets over book value.
Back figures—See the following Annual Reports: 1936, p. 152; 1935, p. 184; 1934, p. 208.




banks

i

220

exa m in er s ’ analysis

Kentucky..............................
Louisiana..............................
Maine...................................
Maryland..............................
Massachusetts......................

CO

03
to

Table 127. APPRAISED VALUE OF ASSETS AS PERCENT OF BOOK VALUE OF OPERATING INSURED COMMERCIAL BANKS NOT MEMBERS
o f t h e F e d e r a l R e s e r v e S ystem , L a t e s t E x a m in a t io n in 1987
BANKS GROUPED BY AMOUNT OF DEPOSITS AND BY STATE
Securities

Total assets
Estimated
net loss
and
doubtful3

Appraised value
Total

Not
criticized

I Sub­
• standard
!

Not
criticized

1.0
.5
.8

1 0 1 .0

18.0
15.8
14.2

83.0
84.7

1 0 0 .8

1 0 0 .0
1 0 0 .0
1 0 0 .0

1 0 0 .0
1 0 0 .0
1 0 0 .0

4
.8
.3

100.4
100.3
100.3

14.1
13.6
12.4

86.3
86.7
87.9

79.4
82.5
89.3

1 0 0 .0
1 0 0 .0
1 0 0 .0

1 0 0 .0
1 0 0 .0
1 0 0 .0

.7
2.U
2.9

100.7
102.4
102.9

14.9
12.5
4.2

85.8
89.9
98.7

12.5
9.3
14.6
11.9

87.5
91.3
83.9
89.6

2.1
2.U
.7
U.2
.8

19.8
7.7
23.9

8 8 .8

1 0 0 .0
1 0 0 .0
1 0 0 .0
1 0 0 .0
1 0 0 .0

1 0 2 .1

1 0 .1

1 0 0 .0
1 0 0 .0
1 0 0 .0
1 0 0 .0
1 0 0 .0

1 0 0 .8

12.4

82.3
94.7
76.8
101.4
88.4

98.5
98.2

26.6
18.7

71.9
79.5

1 0 0 .0
1 0 0 .0

1 0 0 .0
1 0 0 .0

2.6
1.7

1 0 2 .6

98.3

14.9
16.6

87.7
81.7

21.7

79.7
79.2

96.8
98.6
99.2

17.8
15.0
13.7

79.0
83.6
85.5

1 0 0 .0
1 0 0 .0
1 0 0 .0

99.0
98.7
98.7

14.8
15.7
16.9

84.2
83.0
81.8

98.0
99.4

18.6
16.9
10.9

2,065

1 0 0 .0
1 0 0 .0
1 0 0 .0

3.2
1.4

$500,000 to $1,000,000. . .
$1 ,0 0 0 ,0 0 0 to $2 ,0 0 0 ,0 0 0 ..
$2,000,000 to $5,000,000..

1,335
734
350

1 0 0 .0
1 0 0 .0
1 0 0 .0

1 .0

$5,000,000 to $10,000,000.
$10,000,000 to $50,000,000
Over $50,000,000*............

77
53
5

1 0 0 .0
1 0 0 .0
1 0 0 .0

2 .0
.6

.2

1 0 0 .2

124
5
154
89
50

1 0 0 .0
1 0 0 .0
1 0 0 .0
1 0 0 .0
1 0 0 .0

.0
.6
1.5
1.5

1 0 0 .0
1 0 0 .6

98.5
101.5
98.9

100.5

102.4
100.7
104.2

2 .8

Connecticut...............
Delaware...................
District of Columbia4.
Florida......................
Georgia.......................

37
24

1 0 0 .0
1 0 0 .0

1 .8

97
183

1 0 0 .0
1 0 0 .0

.1
.5

1 0 0 .1

99.5

15.0
17.5

85.1
82.0

1 0 0 .0
1 0 0 .0

1 0 0 .0
1 0 0 .0

1.U
4

101.4
100.4

Idaho...
Illinois. .
Indiana.
Iowa
Kansas.

20

1 0 0 .0
1 0 0 .0
1 0 0 .0
1 0 0 .0
1 0 0 .0

.1

1 0 0 .1
1 0 0 .0

5.2

1 0 0 .0
1 0 0 .0
1 0 0 .0
1 0 0 .0
1 0 0 .0

1 0 0 .0
1 0 0 .0
1 0 0 .0
1 0 0 .0
1 0 0 .0

1.2
1.5
4

4.3

1 2 .6

94.9
87.4
84.2
89.0
92.5

1 0 1 .2

419
341
412
254

1 0 0 .6

9.1
9.4
3.4




1.4
.1

.4

98.6
99.9
99.6

14.4
10.9
7.1

.6

2.U

101.5
100.4
102.4

2 1 .2

8 .2

8 6 .6

96.9
93.3
91.3
91.2
99.0

CORPORATION

1 0 0 .0
1 0 0 .0
1 0 0 .0

564

2,110

INSURANCE

8 8 .2

15.6

1.5

Total

1 2 .8

98.9

1 .1

Appraised value

1 0 1 .0

1 .1

1.3
1.3

Estimated
net loss
and
doubtful2

1

1.0

1 0 0 .0

.8

Book
value

(As percent’ of book value)
1 0 0 .0
1 0 0 .0
83.3

7,293

Banks with deposits o f
$1 0 0 ,0 0 0 and under..........
$100,000 to $250,000........
$250,000 to $500,000........

State
Alabama..
Arizona__
Arkansas. .
California.
Colorado..

Fixed
and sub­
standard

ii
.

DEPOSIT

United States—total.

Book
value

Cash and
due from
banks

FEDERAL

Number
of
banks1

Kentucky...........
Louisiana...........
Maine.................
Maryland...........
Massachusetts...

268
107
17
97
38

100.0
100.0
100.0

Michigan............
Minnesota..........
Mississippi.........
Missouri.............
Montana............

235
439
168
464
48

100.0
100.0
100.0
100.0
100.0

Nebraska...........
Nevada5 .............
New Hampshire5.
New Jersey........
New Mexico. . . .

224

100.0

New York..........
North Carolina..
North Dakota...
Ohio...................
Oklahoma..........

100.0

100.0

.7
.1

2 .1

.3
.2
.2

15.0
15.1
24.1
18.5
13.7

84.0
85.6
69.9
81.6
84.2

100.0
100.0
100.0
100.0
100.0

100.0

.5
2.5
2.9
u.u
2.5

100.5
102.5
97.1
104.4
97.5

7.4

100.0
100.0
100.0

.2
1.7
2.5
1.3
1.3

100.2

99.2
99.7

92.3
89.0
82.3
86.5
90.0

100.0

17.9
12.7
9,7

99.8

1 .0

6 .0

8 .2

94.9

99.0
100.7
94.0
100.1

97.9

99.7

100.2
100.2

1 1 .2

100.0
100.0
100.0
100.0

100.0

13.3
18.6
24.1
19.6
13.0

87.2
83.9
73.0
84.8
84.5

4.3

101.7
102.3
101.3
101.3

26.4
7.5

95.9
89.1
75.9
90.7
93.8

101.9

5.3

96.6

98.7

16.9

81.8
97.7

13.4
25.1
15.7
8.5
5.7

88.3
78.1
85.1
91.9
96.3

1 2 .6

.3

100.0
100.0

100.0

91.6

1 0 0 .0

100.0

23.1
5.8

71.8
94.2

100.0
1 0 0 .0

1 0 0 .0
1 0 0 .0

1.3
1.8

15.7
14.5
18.9
14.4
5.5

83.0

100.0

95.7
99.3
99.9

8 6 .1

76.8
84.9
94.4

1 0 0 .0
1 0 0 .0
1 0 0 .0
1 0 0 .0

1 0 0 .0
1 0 0 .0
1 0 0 .0
1 0 0 .0

1.7
3.2
.8
4
2.0

100.0

.8

100.0
100.0

1 0 .6

1 0 0 .0
1 0 0 .0

1 0 0 .0
1 0 0 .0

1.6
,3

100.3

19.3

2 .6

99.0
81.0

1 0 .6

2

3
93
14

100.0
100.0

5.1

178
174
116
362
163

100.0
100.0

1.3
.6
4.3
.7

Oregon...............
Pennsylvania___
Rhode Island6. ..
South Carolina. .
South Dakota. . .

40
290

100.0

100.0

1 .6

98.4

23.6

89.4
74.8

2
86
111

1 0 0 .0
1 0 0 .0

.3
3.1

99.7
96.9

7.1
17.4

92.6
79.5

1 0 0 .0
1 0 0 .0

100.0
100.0

.9
.3

100.9
99.7

10.4
19.8

90.5
79.9

Tennessee...........
Texas.................
Utah...................
Vermont.............
Virginia..............

218
284
27
33
160

1 0 0 .0
1 0 0 .0
1 0 0 .0
1 0 0 .0
1 0 0 .0

2.3

97.7
99.0

21.4

76.3

1 0 0 .0

1.1
6.4
2.3

1 2 .8

8 6 .2

1 0 0 .0
1 0 0 .0

.9
.5

1 0 1 .1

23.0
13.1
4.9
16.5
14.0

1 0 0 .0

4

100.9
100.5
104.9
97.4
100.4

Washington........
West Virginia. . .
Wisconsin...........
Wyoming...........

74
444
23

1 0 0 .0
1 0 0 .0
1 0 0 .0
1 0 0 .0

.6
4.4

100.6

2.0

1 0 2 .0

13.2
11.5




100.0

100.0
100.0

.1

1 .0

1 .2
.8

100.0

98.7

100.6

93.6
97.7
95.6
98.8
99.2

6.9
34.0
18.0
9.7
17.5
14.8
15.6

94.2
59.6
79.7
90.9
78.1
84.0
83.6

100.0
100.0
100.0
100.0

100.0
100.0
100.0
100.0

100.0

100.0
1 0 0 .0
1 0 0 .0
1 0 0 .0
1 0 0 .0
1 0 0 .0
1 0 0 .0

a

1 .6
.8

2.1*

1 0 1 .8

101.7
103.2
100.8

100.4
102.0
1 0 1 .6

98.4
99.2
102.4

1 1 .6

8.7®

77.9
87.4
80.9
86.4
83.8
86.9
87.6
93.72

C
O
C
O

T a b le 127.

APPRAISED VALUE OP ASSETS AS PERCENT OF BOOK VALUE OF OPERATING INSURED COMMERCIAL BANKS NOT MEMBERS
of th e F ederal R eserve System , L atest E xam ination in 1937— Continued
BANKS GROUPED BY AMOUNT OF DEPOSITS AND BY STATE
Miscellaneous assets

Loans, discounts, and overdrafts
Book
value

Estimated
net loss
and
doubtful3

Appraised value
Total

1 Sub|
j standard

Not
criticized

Appraised value
Total

Fixed
and sub­
standard

Not
criticized

82.9

9.0

1 0 0 .0
1 0 0 .0
1 0 0 .0

14.9
9.9
7.2

85.1
90.1
92.8

80.3
81.8
87.2

4.8
8.3
5.6

81.8
80.6
78.2

1 0 0 .0
1 0 0 .0
1 0 0 .0

6.5
8 .8

6.5

93.5
91.2
93.5

84.0
85.4
8 6 .1

9.5
5.8
7.4

16.9
15.0
13.5

79.4
81.9
85.6

1 0 0 .0
1 0 0 .0
1 0 0 .0

9.8
6.7
14.1

90.2
93.3
85.9

80.5
81.3
72.7

1 2 .2

8.3
13.0
17.9
14.6
13.6

91.0
86.4
77.7
85.2
83.1

1 0 0 .0
1 0 0 .0
1 0 0 .0
1 0 0 .0
1 0 0 .0

1 .1

3.3

99.3
99.4
95.6
99.8
96.7

4
5.9
2.9
9.2

98.9
100.4
94.1
97.1
90.8

89.1
76.6
73.8
91.9
78.4

9.8
23.8
20.3
5.2
12.4

6.5

97.5

16.4

564
2,065

1 0 0 .0
1 0 0 .0
1 0 0 .0

4.8

2 ,1 1 0

2 .6
2 .0

95.2
97.4
98.0

19.6
16.6
15.1

75.6
80.8
82.9

$500,000 to $1,000,000........
$ 1 ,0 0 0 ,0 0 0 to $2 ,0 0 0 ,0 0 0 . . . .
$2,000,000 to $5,000,000....

1,335
734
350

1 0 0 .0
1 0 0 .0
1 0 0 .0

2 .1

2.5
2.9

97.9
97.5
97.1

16.1
16.9
18.9

$5,000,000 to $10,000,000...
$10,000,000 to $50,000,000..
Over $50,000,000®...............

77
53
5

1 0 0 .0
1 0 0 .0
100 0

3.7
3.1
.9

96.3
96.9
99.1

State
Alabama...............................
Arizona.................................
Arkansas...............................
California..............................
Colorado...............................

124
5
154
89
50

1 0 0 .0
1 0 0 .0
1 0 0 .0
1 0 0 .0
1 0 0 .0

.7
4.4

.6

.2

9.7
13.2

Connecticut..........................
Delaware..............................
District of Columbia4 ...........
Florida..................................
Georgia.................................

37
24

1 0 0 .0
1 0 0 .0

3.9
1.9

96.1
98.1

35.9
19.2

60.2
78.9

1 0 0 .0
1 0 0 .0

8 .1

93.5
91.9

89.8
84.3

3.7
7.6

97
183

1 0 0 .0
1 0 0 .0

1.3
.9

98.7
99.1

14.0

1 0 .8

87.9
85.1

1 0 0 .0
1 0 0 .0

1.4
2.7

98.6
97.3

87.0
91.2

1 1 .6
6 .1

Idaho....................................
Illinois..................................
Indiana.................................
Iowa.....................................
Kansas..................................

419
341
412
254

20

1 0 0 .0
1 0 0 .0
1 0 0 .0
1 0 0 .0
1 0 0 .0

.5
1 .8
2 .8
.6
1 .8

99.5
98.2
97.2
99.4
98.2

4.7
18.9
19.4
14.1
9.2

94.8
79.3
77.8
85.3
89.0

1 0 0 .0
1 0 0 .0
1 0 0 .0
1 0 0 .0
1 0 0 .0

2.9
3.1

97.1
96.9
89.0
99.2
88.7

88.5
90.7
78.4
96.8
76.1 1

8 .6
6 .2
1 0.6




1 1 .0
.8

11.3

2.4

12.6

CORPORATION

91.9

2.5

INSURANCE

8 .1

1 0 0 .0

Banks with deposits of—
$1 0 0 ,0 0 0 and under.............
$100,000 to $250,000...........
$250,000 to $500,000...........

Estimated
net loss
and
doubtful*

DEPOSIT

(As percent of book value)
81.1
1 0 0 .0

7,293

Jnlted States—total............

Book
value

FEDERAL

Number
of
banks1

268
107
17
97
38

1 0 0 .0
1 0 0 .0
1 0 0 .0
1 0 0 .0
1 0 0 .0

Michigan..............................
Minnesota............................
Mississippi............................
Missouri................................
Montana..............................

235
439
168
464
48

1 0 0 .0
1 0 0 .0
1 0 0 .0
1 0 0 .0
1 0 0 .0

Nebraska..............................
Nevada5 ................................
New Hampshire6..................
New Jersey...........................
New Mexico.........................

224

97.8
99.5
90.6
96.9
98.4

18.8
15.2
23.2
17.2
7.9

79.0
84.3
67.4
79.7
90.5

1 0 0 .0
1 0 0 .0
1 0 0 .0
1 0 0 .0
1 0 0 .0

5.9
2.7
15.6
11.4
8.3

94.1
102.7
84.4

1.4
2.4
2.7

99.5
98.9
98.6
97.6
97.3

7.3
10.4
17.3
16.0
1 1 .8

92.2
88.5
81.3
81.6
85.5

1 0 0 .0
1 0 0 .0
1 0 0 .0
1 0 0 .0
1 0 0 .0

6.7
3.1
5.4
5.9
2.5

1 0 0 .0

1.3

98.7

11.9

8 6 .8

1 0 0 .0

3
93
14

1 0 0 .0
1 0 0 .0

7.6

92.4
98.9

2 1 .6

70.8
89.9

New York.............................
North Carolina....................
North Dakota......................
Ohio......................................
Oklahoma.............................

178
174
116
362
163

1 0 0 .0
1 0 0 .0
1 0 0 .0
1 0 0 .0
1 0 0 .0

12.3

Oregon..................................
Pennsylvania........................
Rhode Island5 ......................
South Carolina.....................
South Dakota.......................

40
290

1 0 0 .0
1 0 0 .0

2.9

99.0
97.1

2
86
1 11

1 0 0 .0
1 0 0 .0

.9
5.2

Tennessee.............................
Texas....................................
Utah.....................................
Vermont...............................
Virginia................................

218
284
27
33
160

1 0 0 .0
1 0 0 .0
1 0 0 .0
1 0 0 .0
1 0 0 .0

2 .8
2 .0

Washington...........................
West Virginia.......................
Wisconsin.............................
Wyoming..............................

82
74
444
23

1 0 0 .0
1 0 0 .0
1 0 0 .0
1 0 0 .0

.4
6.3

2 .2

.5
9.4
3.1
1 .6

.5
1 .1

74.0
94.3
83.2
78.0
85.6

2 0 .1

93.3
96.9
94.6
94.1
102.5

89.8
80.0
79 -8
76.7
8 8 .1

3.5
16.9
14.8
17.4
14.4

6.3

93.7

83.6

1 0 .1

1 0 0 .0
1 0 0 .0

16.8
5.0

83.2
95.0

75.6
79.1

7.6
15.9

84.1
88.3
64.7
80.7
90.0

1 0 0 .0
1 0 0 .0
1 0 0 .0
1 0 0 .0
1 0 0 .0

7.2
.5
12.9
4.4
5.5

92.8
99.5
87.1
95.6
94.5

78.2
74.6
74.5
92.6
71.5

14.6
24.9
3.0
23.0

2 1 .1

85.8
76.0

1 0 0 .0
1 0 0 .0

3.5
7.7

96.5
92.3

89.6
85.0

6.9
7.3

99.1
94.8

4.8
17.6

94.3
77.2

1 0 0 .0
1 0 0 .0

9.7
15.6

90.3
84.4

76.8
82.0

13.5
2.4

97.2
98.0
99.5
91.8
96.8

2 2 .0

15.4
56
42.4
16.3

75.2
82.6
93.9
49.4
80.5

1 0 0 .0
1 0 0 .0
1 0 0 .0
1 0 0 .0
1 0 0 .0

14.8
7.9
4.9
16.0

85.2
92.1
95.1
84.0
89.4

79.1
78.6
84.5
80.8

13.5

8 6 .6

2 .8

99.6
93.7
98.0
97.3

7.2
21.4
18.5
26.4

92.4
72.3
79.5
70.9

1 0 0 .0
1 0 0 .0
1 0 0 .0
1 0 0 .0

•
U
17.5
4.4
6.5

100.4
82.5
95.6
93.5

95.4
75.0
89.5

6 .1

8 8 .6

91.7

8.4

1 .2
1 0 .6
6 .1

2

1 .1

3.6
1.5
1 0 .6

1.7
1.9

1 .0

8 .2

3.2

2.7

8 .1

13.2

1 0 .6

8 8 .0

1 2 .6

6 .1

1 0 .6

3.2
5.0
7.5
5.5

BANKS

2 .0

1 0 .2

24.7
17.6

O INSURED
F

.5

96.4
98.5
89.4
98.3
98.1

9.0

EXAMINERS’ ANALYSIS

Kentucky..............................
Louisiana..............................
Maine...................................
Maryland..............................
Massachusetts......................

lfThe number of banks examined during the year does not agree with the number of banks at the close of the year.
*Total amount of assets classified as loss and doubtful less (1) appraised value of assets not shown on the books of the banks and (2) unrealized appreciation in assets.
3
Because of the small number of banks, the figures for this group are not necessarily typical of banks with deposits of over $50,000,000.
4
Not compiled.
‘Figures are included in deposit groups and in total.
NOTE: Italics indicate excess of appraised value of assets over book value.
Back figures—See the following Annual Reports: 1936, p. 156; 1935, p. 188; 1934, p. 212.

135




Table 128.

NUMBER AND DEPOSITS OF OPERATING INSURED COMMERCIAL BANKS NOT MEMBERS OF THE FEDERAL RESERVE SYSTEM,
L a t e s t E x a m in a t io n in 1937
GROUPED BY QUALITY OF MANAGEMENT, NET CAPITAL AND SUBSTANDARD ASSET RATIOS, AND RATE OF NET EARNINGS ON TOTAL ASSETS
Deposits (in thousands of dollars)

Number1
Banks with management considered to be—

Banks with management considered to be—

7,293

747

3,632

2,066

673

175

6,016,839

866,646

3,083,168

1,458,172

437,037

171,816

Banks with net capital
account as percent of
net value of assets of—
0 percent..............................
1 to 5 percent......................
5 to 10 percent.....................

13
72
1,365

617

g
25
398

22

130

2
6

8

2

170

17
50

10,911
157,695
1,547,472

22,457
163,121

2,659
6,941
771,488

1,051
45,501
396,190

14,999
179,273

7,201
67,797
37,400

10 to 15 percent...................
15 to 20 percent...................
20 to 25 percent...................

2,786
1,795
776

309
196
62

1,465
908
393

738
517
240

231
144
64

43
30
17

2,545,833
1,227,777
336,932

429,989
166,448
28,719

1,356,539
671,997
190,298

601,181
287,072
87,728

121,629
87,233
23,123

36,495
15,027
7,064

25 to 30 percent...................
30 to 35 percent...................
35 to 40 percent...................
40 percent and over.............

278
128
43
37

26

139
66

4
4

81,775
62,636
36,616
9,192

9,249
37,369
6,472
2,822

43,499
11,031
25,536
3,180

20,448
12,096
3,916
2,989

8,246
1,863
571

333
277

4

19
17

84
38

25

10
8

100

121
101

Banks with substandard
assets as percent of
net value of assets of—
Under 5 percent...................
5 to lo percent.....................
10 to 15 percent...................

812
1,591
1,581

278
242
130

462
1,035

15 to 2 0 percent...................
20 to 25 percent.................
25 to 30 percent...................

1,255
877
507

59
24

30 to 35 percent...................
35 to 40 percent...................
40 percent and over.............

318
161
191

3

8

3

Unsatis­
factory

Fair

10

Poor

Good

Satis­
factory

Fair

Unsatis­
factory

Poor

12
11

3
4

61
255
452

5
52
94

6

886

7
19

533,443
1,412,269
1,232,632

228,040
274,763
218,668

247,524
970,218
629,982

42,146
132.019
310,346

1,784
30,826
61,549

13,949
4,443
12,087

587
346
166

455
343
218

131
133
93

23
31

1,010,971
749,710
468,308

64,679
53,897
20,113

602,706
310,573
161,687

263,331
299,945
128,976

66,710
63,174
90,436

2 2 ,1 2 1

79
37
34

137
74
71

78
35
52

21

266,503
193,427
149,576

988

83,963
39,981
36,534

1 2 1 ,1 1 2

49,086
35,819
37,653

11,354
8,695
18,526

1
1

22

15
31

5,498

108,932
51,365

13,545
67,096

CORPORATION




Satis­
factory

Good

INSURANCE

All banks................................

DEPOSIT

All
banks

FEDERAL

All
banks

62
143

8

23
56

24
45

Banks with net current
o p e r a tin g ea rn in gs
per $ 1 0 0 of total assets
of—*..............................
Less than $0.50....................
$0.50 to $0.99.......................
$1.00 to $1.49.......................

892
2,071
2,266

47
175
255

425
1,027
1,164

295
604
626

$1.50 to $1.99.......................
$2.00 to $2.49.......................
$2.50 to $2.99.......................
$3.00 and over......................

1,068
433
167
129

121

549
213

288

Banks operating less
than full year.............

62

12

67
34
28

1 11

60

29
27

29

17

86

5
7

44,790
93,944

16,706

19,936
38,036

19,533
25,915

2,295
8,180

3,026
5,107

24
54
41

717,081
1,834,408
2,191,473

62,337
213,544
337,719

284,311
889,389
1,278,522

253,577
531,684
414,759

51,150
149,175
136,405

65,706
50,616
24,068

25
11

11

3
3

696,280
195,931
98,162
59,044

130,813
36,407
39,037
20,845

353,825
91,345
45,277
26,009

143,449
47,885
6,838
7,604

56,625
13,578
3,957
3,343

11,568
6,716
3,053
1,243

2

2

85,726

9,238

56,518

6,928

12,329

713

10

27

1 01
211

180
85
31
15

irThe number of banks examined during the year does not agree with the number of banks at the close of the year.
a
Average net current operating earnings for the last 3-year period as percent of monthly average of total assets for the last 3-year period.
1 year or more but less than 3 years, averages are for calendar years of operations.

O INSURED
F
BANKS




In the case of banks operating for

EXAMINERS* ANALYSIS

Banks with net current
operating deficits per
$ 1 0 0 of total assets
of — 2 ..............................
$0.50 and over....................
Less than $0.50....................

C
O

co

Table 129.

00

SUMMARY OF EXAMINERS* ANALYSIS OF LOANS OF OPERATING INSURED COMMERCIAL BANKS NOT MEMBERS OF THE
F e d e r a l R e s e r v e System , E x a m in a t io n s 1934-1937
BANKS GROUPED BY AMOUNT OF DEPOSITS AND BY STATE

1935

1936

1937

1934

1935

1936

1934

1937

1935

1936

1937

2.5

32.6

25.4

2 1 .0

16.4

59.4

6 8 .1

74.6

81.1

Banks with deposits of$1 0 0 ,0 0 0 and under..........
$100,000 to $250,000........
$250,000 to $500,000........

8.4

7.1
4.6
4.3

6.4
3.5
3.1

4.8

34.8
35.1
34.4

25.9
23.9
23.7

22.3
19.8
18.7

19.6
16.6
15.1

56.8
58.8
59.1

67.0
71.5
72.0

71.3
76.7
78.2

75.6
80.8
82.9

$500,000 to $1,000,000. . .
$1 ,0 0 0 ,0 0 0 to $2 ,0 0 0 ,0 0 0 ..
$2,000,000 to $5,000,000..

6.4
7.6
8.9

4.5
7.8

3.4
4.3
5.2

2.5
2.9

35.9
33.9
31.2

26.0
26.1
26.9

20.4
21.3
2 2 .8

16.1
16.9
18.9

57.7
58.5
59.9

69.5
67.8
65.3

76.2
74.4
72.0

81.8
80.6
78.2

9.9
8.7

J
8.5 i
7.8

4.9
6.3
3.8

3.7
3.1 \
.9

31.2
25.8

J
26.3 i
2 0 .6

20.4
23.5
19.0

16.9
15.0
13.5

58.9
65.5

J
65.2 i
71.6

74.7
70.2
77.2

79.4
81.9
85.6

5.1
(3
)
5.7
2.7

2.5
1.3
5.8

.9
6.3

4.4

18.5
28.5
28.5
19.6
23.4

17.2
17.1
22.3
18.8
17.9

8.3
13.0
17.9
14.6
13.6

64.0
(3
)
41.7
72.0
61.5

79.0
70.2
65.7.
77.6

3.3

30.9
(3
)
52.6
25.3
28.4

6 8 .8

81.6
82.0
71.4
79.1
76.1

91.0
86.4
77.7
85.2
83.1

3.9
1.9
(4
)
1.3
.9

25.1
29.5
(8
)
30.6
85.8

35.0
23.5
(3
)
19.0
25.6

35.1

35.9
19.2
(4
)

67.8
64.5
(3
)
65.6
59.7

58.5
72.7
(3
)
78.6
71.7

59.6
76.0
(•)
83.5
75.9

60.2
78.9
(4
)
87.9
85.1

26.4
37.4
36.1
31.2

13.7
30.3
28.8
21.9

6 8 .0

82.6

8 6 .6

2 1 .8

1 2 .1

94.8
79.3
77.8
85.3
89.0

$5,0 00 .,0 0 0 to $1 0 ,0 0 0 ,0 0 0 .
$10,000,000 to $50,000,000
Over $50,000,0002...........
State
Alabama..
Arizona...
Arkansas. .
California.
Colorado..

6 .1

6.5

1

>

1 .2

2 .1

.7
.6

2 .8

1 0 .1

7.8

2 .1
6 .0

7.1

6.5
3.8
(*)
2.4
2.7

5.3
2.9
(3
)

3.7
3.5
5.4

2 .8

.5

2 .2

1 .8
2 .8
.6
1 .8

Connecticut...............
Delaware...................
District of Columbia..
Florida......................
Georgia......................

(3
)
3.8
4.5

Idaho..
Illinois. .
Indiana.
Iowa. ..
Kansas.

5.6
5.8
7.7
3.7
7.1




6 .1

2 .6
2 .0

6 .0

1 .6

4.1

1 .8

1.7

2.9
4.6
.7

.2

2 1 .1

(3
)
14.7
22.4
1 0 .6

23.7
23.8
15.9
9.7

1 0 .8

14.0

4.7
18.9
19.4
14.1
9.2

}
►

56.8
56.2
65.1
71.1

6 6 .2

65.8
76.5
83.8

73.4
71.6
83.4

8 8 .1

CORPORATION

4.4

INSURANCE

6.5

United States—total.

DEPOSIT

8 .0

FEDERAL

1934

Not criticized loans as percent
of book value of loan s

Substandard loans as percent
of book value of loans

Estimated loss and doubtful loans as percent
of book value of loans

3.7
4.8

Kentucky...........
Louisiana...........
Maine.................
Maryland...........
Massachusetts...

12.6
6.2

5.9

4.1
2.7
12.3
6.4
5.1

3.1
1.5
11.7
4.5
3.3

Michigan............
Minnesota..........
Mississippi.........
Missouri.............
Montana............

8.0
4.1
4.4
5.3
6.4

6.3
3.2
2.9
5.0
5.7

2.1
1.9
1.8
4.1
3.0

Nebraska.............
Nevada3 ...............
New Hampshire*.
New Jersey........ .
New Mexico.

6.1

1.9

19.5
6.3

New York........
North Carolina.
North Dakota..
Ohio.................
Oklahoma.........
Oregon..............
Pennsylvania...
Rhode Island3. .
South Carolina.
South Dakota..

27.4
35.4
40.5
32.7
27.4

21.9
24.9
32.7
24.6
16.9

18.8
15.2
23.2
17.2
7.9

62.9
54.5
50.6
51.8
67.8

68.5
61.9
47.2
60.9
67.5

75.0
73.6
55.6
70.9
79.8

79.0
84.3
67.4
79.7
90.5

29.8
24.2
40.6
28.8
31.3

19.0
13.9
32.9
22.4
17.3

10.5
23.3
18.7
13.5

7.3
10.4
17.3
16.0
11.8

62.2
71.7
55.0
65.9
62.3

74.7
82.9
64.2
72.6
77.0

87.4

1.4
2.4
2.7

74.9
77.2
83.5

92.2
88.5
81.3
81.6
85.5

1.1

1.3

23.8

15.6

11.7

11.9

70.1

82.5

87.2

86.8

17.7
4.0

12.4

7.6
1.1

35.7
44.8

24.8
24.7

23.7
16.2

21.6

44.8
48.9

57.5
71.3

63.9
81.0

70.8
89.9

10.9
4.3
23.5
7.3
4.5

9.4
2.4
19.3

3.6
1.5

20.8

1.7
1.9

33.1
39.9
46.6
22.5

18.3
16.9
27.0
31.7
12.4

18.6
14.5
27.2
24.1
9.6

12.3

10.6

2.3

7.0
2.3
14.4
3.6
1.7

24.7
17.6

68.3
62.6
36.6
46.1
73.0

72.3
80.7
53.7
62.3
85.3

74.4
83.2
58.4
72.3
88.7

84.1
88.3
64.7
80.7
90.0

6.3
8.2

6.1

1.6

1.0

47.8

33.8
27.5

22.8
24.2

13.2

21.1

45.9
58.2

60.1
64.9

75.6
71.5

85.8
76.0

6.0

2.8

1.6

.5

1.1

7.6

4.3

2.9

12.0

9.0

10.2
8.1

86.1

10.1

1.5

2.3
8.5

.9
5.2

14.0
32.0

6.0
20.6

7.2
17.5

4.8
17.6

85.0
51.7

92.5
69.3

90.5
74.0

94.3
77.2

6.1

5.7
7.0

3.4
3.9
1.4

2.8
2.0

43.9
41.6
27.3
41.9
36.7

36.2
29.0
23.2
47.5
25.2

25.8
9.5
48.2
21.9

22.0
15.4
5.6
42.4
16.3

50.0
49.6
65.3
45.5
57.2

58.1
64.0
74.6
37.7
69.8

70.8
75.3
89.1
39.6
74.1

75.2
82.6
93.9
49.4
80.5

34.8
39.9
43.6
31.3

22.9
33.2
32.6
39.3

26.0
25.5
34.2

7.2
21.4
18.5
26.4

61.2
48.5
48.1
59.0

75.0
56.6
61.0
55.1

65.2
70.3
61.6

86.2

92.4
72.3
79.5
70.9

1.0

8.8

7.4

2.2

12.6
6.1

14.8
5.0

12.2

4.0

2.1
10.2

1.2

11.6

8.3
9.7

6.4
5.6

4.0
8.8

4.2
4.2

.5

8.2

3.2
.4
6.3

2.0

2.7

20.8

12.6

BANKS

16.3

O INSURED
F

Washington...
West Virginia.
Wisconsin.......
Wyoming........

33.4
40.7
36.8
42.0
26.3

.5
9.4
3.1

EXAMINEES’ ANALYSIS

Tennessee.
Texas.
Utah.........
Vermont..,
Virginia.. .

2.2

Tor 1934 and 1935, deposits are as of December 31; for 1936 and 1937, deposits are as of date of examination.
2
Because of the small number of banks, the figures for this group are not necessarily typical of banks with deposits of over $50,000,000.
’Figures are included in deposit groups and in total.
‘Not compiled.




00

CD

Table 130.

BOOK VALUE OP SECURITIES HELD BY OPERATING INSURED COMMERCIAL BANKS NOT MEMBERS OF THE
F e d e r a l R e s e r v e System , L a t e s t E x a m in a t io n in

1937

o

BANKS GROUPED BY AMOUNT OF DEPOSITS
Gross book value of securities before deduction of valuation allowance
Net book
value of
securities

Valuation
allowance

Total

1,510
17,877
36,661

79
755
2,315

44,610
50,482
50,554

56,519
64,412
63,669

49,751
52,478
41,892

6,768
11,934
21,777

36,369
26,974
18,926
84,663
54,228
28,195
52,099
11,856
6,507
book value of securities)
11.7
9.3
20.3

35,143
54,432
10,387

17,750
32,151
7,027

17,393
22,281
3,360

13.3

9.9

3.4

18.3
16.5
14.4

17.4
15.8
13.6

.8

1 0 .6

14.8
14.4
13.3

1 1 .8
8 .8

8.4
6.4
3.0

15.5
12.3
4.7

7.8
7.3
3.2

564
2,065

2 ,1 1 0

8,687
113,340
270,405

18
428
987

8,705
113,768
271,392

7,116
95,136
232,416

4,362
51,887
114,737

2,168
25,679
64,971

225
6,964
23,599

$500,000 to $1,000,000
$1 ,0 0 0 ,0 0 0 to $2 ,0 0 0 ,0 0 0 ___
$2,000,000 to $5,000,000___

1,335
734
350

381,657
445,232
478,526

1,675
2,862
3,616

383,332
448,094
482,142

326,813
383,682
418,473

153,161
180,498
212,896

86,135
90,549
82,679

42,907
62,153
72,344

$5,000,000 to $10,000,000. ..
$10,000,000 to $50,000,000. .
Over $50,000,000*.................

77
53
5

226,066
441,469
218,829

1,587
4,135
5,102

227,653
445,604
223,931

All banks................................

7,293

1 0 0 .0

.8

1 0 0 .8

110,241
192,510
224,086
391,172
213,544
143,082
(As percent of net
87.5
46.2

Banks with deposits of—
$1 0 0 ,0 0 0 and under..............
$100,000 to $250,000............
$250,000 to $500,000...........

564

1 0 0 .0
1 0 0 .0
1 0 0 .0

.2

1 0 0 .2

2,065

$500,000 to $1,000,000 .......
$1 ,0 0 0 ,0 0 0 to $2 ,0 0 0 , 0 0 0 ___
$2,000,000 to $5,000,000.. .

1,335
734
350

1 0 0 .0
1 0 0 .0
1 0 0 .0

$5,000,000 to $10,000,000. ..
$10,000,000 to $50,000,000..
Over $50,000,0004.................

77
53
5

1 0 0 .0
1 0 0 .0
1 0 0 .0

81.9
83.9

.4

100.4

85.6

.6
.8

1 0 0 .6
1 0 0 .8

8 6 .2

.7
.9
2.3

100.7
100.9
102.3

85.2

87.5
8 8 .6

97.6

50.2
45.8
42.5

25.0
22.7
24.0

40.1
40.6
44.5

2 2 .6

20.3
17.3

14.0
15.1

48.8
50.7
65.4

16.1
19.2
23.8

11.9
12.3
5.4

2 .6
6 .1

4.1
9.3

8.7

1 0 .8

1 1 .2

11.7
11.3

lThe number of banks examined during the year does not agree with the number of banks at the close of the year,
includes both direct and fully guaranteed,
includes some not-rated corporate issues.
‘Because of the small number of banks, the figures for this group are not necessarily typical of banks with deposits of over $50,000,000.




13.0

.9
.7
1 .8
2 .6

4.5
7.7
5.0
1.5

CORPORATION

1,589
18,632
38,976

2,604,621

INSURANCE

361
10,606
29,109

20,410

8 6 .0

Stocks

86,662

2,584.211

100.4
100.4

Low-grade
and
defaulted
bonds

257,097

7,293

Banks with deposits of—
$1 0 0 ,0 0 0 and under..............
$100,000 to $250,000............
$250,000 to $500,000............

.4
.4

Total

343,759

All banks................................

2 ,1 1 0

Substandard

DEPOSIT

Group I—satisfactory for bank investment
States and Corporate bonds ratedObligations their politi­
of the U. S. cal subdivi­
BetterBorder­
Total
Govern­ sions and
other non­
grade
line
ment*
corporate
issues3
(In thousands of dollars)
525,312
301,250
239,350
2,260,862 1,194,950

FEDERAL

Number
of
banks1

EARNINGS OF INSURED COMMERCIAL BANKS

141

EARNINGS OF INSURED COMMERCIAL BANKS
Table 131. EARNINGS, EXPENSES, AND DISPOSITION OP PROFITS OF OPERATING
I n s u r e d C o m m e r c ia l B a n k s , C a le n d a r Y e a r 1937
BY CLASS OF BANK
(Amounts in thousands of dollars)

All insured
banks

Banks nnembers
F. R. iSystem
National

State

Banks not
members
F. R.
System1

5,260

1,081

7,442

372.773
323,573

179,790
157,237

156,093
90,803

54,286
106,268
856,900

23,188
104,150
464,365

33,126
30,080
310,102

Current operating expenses:
Interest on time and savings deposits........................
235,031
Interest and discount on borrowings..........................
1,333
Salaries, wages, and fees.............................................
462,782
Taxes (other than on income)..................................... 2102,615
Depreciation on banking house, furniture and fixtures.
351,382
Other current operating expenses...............................
307,160
Total current operating expenses...................... 1,160,303

124.599
331
240,051
255.581
24.581
164,296
609,439

49,850
245
139,019
230,612
12,287
97,831
329,844

60,582
757
83,712
16,422
314,514
45,033
2 2 1 ,0 2 0

Net current operating earnings................................

471,064

247,461

134,521

89,082

117,194

68,840

30,110

18,244

89,812

50,303

25,200

14,309

Number of banks.................................................

13,783

Current operating earnings:
Interest and discount on loans....................................
703,656
Interest and dividends on securities...........................
571,613
Commissions, fees, and collection, exchange, and ser­
vice charges.............................................................
110.600
Other current operating earnings................................
240,498
Gross current operating earnings..................... 1,631,367

Profits on assets sold or exchanged, recoveries and
reductions in valuation allowances:
Profits on securities sold or exchanged.......................
Recoveries and reductions in valuation allowances on
loans........................................................................
Recoveries and reductions in valuation allowances on
securities..................................................................
All other recoveries, profits on assets sold, and reduc­
tions in valuation allowances..................................
Total profits on assets sold, recoveries, etc.. . .

57,898

33,772

16,554

7,572

43,819
308,723

18,445
171,360

12,944
84,808

12,430
52,555

Net earnings, profits and recoveries on assets, e tc..

779,787

418,821

219,329

141,637

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

141,448
176,373

71,775
92,132

33,013
55,826

36,660
28,415

77,067
394,888

27,495
191,402

21,349
110,188

28,223
93,298

Net profits before income taxes and dividends. . . .
Income taxes, Federal and State..............................
Net profits after income taxes...................................

(4
)
(4
)
380,051

(4
)
(4
)
227,419

(4
)
(4
)
109,141

48,339
4,848
43,491

Cash dividends declared and interest paid on
capital:
Interest paid on capital notes and debentures and divi­
dends declared on preferred stock...........................
Dividends declared on common capital......................
Total cash dividends declared and interest paid
on capital...........................................................

24,164
201,260

11,528
109,907

6,409
73,157

6,227
18,196

Net profits after dividends.........................................

225,424

121,435

79,566

24,423

154,627

105,984

29,575

19,068

Excludes 2 national banks in Alaska; 1 national bank in the Virgin Islands; 9 State banks in the
District of Columbia; and 2 other State banks.
includes “ income taxes” for national and State banks members of the Federal Reserve System,
includes “ other expenses of occupancy and maintenance of banking quarters” for banks not mem­
bers of the Federal Reserve System.
4
Not available. See footnote 2.
Back figures—See Table 132, and the following Annual Reports: 1S36, p. 165; 1935, p. 198.




FEDERAL DEPOSIT INSURANCE CORPORATION

142
T a b le 132.

EARNINGS, EXPENSES, AND DISPOSITION OP PROFITS OP OPERATING
I n s u r e d C o m m e r c ia l B a n k s , C a l e n d a r Y e a r s 1934-1937
(Amounts in thousands of dollars)
>1934

Number of banks3.

14,124

11935

11936

1937

14,110

13,956

13,783

Current operating earnings:
689,143
Interest and discount on loans...................................
549,504
Interest and dividends on securities...........................
Commissions, fees, and collection, exchange, and ser­
75,553
vice charges.............................................................
201,408
Other current operating earnings................................
Gross current operating earnings..................... 1,515,608

641,737
547,108

661,574
573,472

708,656
571,613

89,668
204,488
1,483,001

104,696
223,948
1,563,690

110,600
240,498
1,631,367

Current operating expenses:
323,029
Interest on time and savings deposits........................
7.319
Interest and discount on borrowings..........................
401,222
Salaries, wages, and fees.............................................
Taxes...........................................................................
76,834
47.710
Depreciation on banking house, furniture and fixtures.
258,829
Other current operating expenses...............................
Total current operating expenses...................... 1,114,943

276.998
2.642
410,084
79,047
39,815
272,104
1,080,690

235,031
236,830
1,333
1,624
462,782
436,624
895,113 *102,615
<51,382
<52,196
307,160
299,118
1,121,505 1,160,303

Net current operating earnings................................

400,665

Profits on assets sold or exchanged, recoveries and
reductions in valuation allowances:
Profits on securities sold or exchanged.......................
Recoveries and reductions in valuation allowances on
loans........................................................................
Recoveries and reductions in valuation allowances on
securities..................................................................
All other recoveries, profits on assets sold, and reduc­
tions in valuation allowances..................................
Total profits on assets sold, recoveries, etc.. . .

52,770

(5
)

442,185

471,064

(5
)

267,674

117,194

81,675

110,403

89,812
57,898

402,311

315,937

174,970

32,755
291,645

34,445
432,057

31,404
584,451

43,819
308,723

206,120

692,310

834,368

1,026,636

779,787

Losses, charge-offs, and additions to valuation
allowances:
On loans.......................................................................
551,644
On securities................................................................
391,266
All other losses, charge-offs, and additions to valuation
allowances................................................................
88,619
Total losses, charge-offs, etc.............................. 1,031,529

318,271
239,053

249,756
154,574

141,448
176,373

70,125
627,449

96,485
500,815

77,067
394,888

Net profits before dividends.......................................

Net earnings, profits and recoveries on assrets, etc.

-339,219

206,919

•523,379

•380,051

Cash dividends declared and interest paid on
capital....................................................................

187,595

207,317

223,208

225,424

Net profits after dividends.........................................

-526,814

-398

300,171

154,627

iFigures 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. See NOTE on page 65.
2
Excludes the following insured banks not members of the Federal Reserve System: 25 for 1934;
16 for 1935; 17 for 1936; and 14 for 1937. Excludes in addition for 1936, 52 national banks and 9 State
banks members of the Federal Reserve System reporting for the first half of the year only, the figures of
which are included.
3
Exdudes “income taxes” of $2,442,000 in 1936, and of $4,848,000 in 1937 paid by banks not members
of the Federal Reserve System.
includes “ other expenses of occupancy and maintenance of banking quarters” for banks not mem­
bers of the Federal Reserve System,
included with recoveries.
•After payment of “ income taxes” . See footnote 3.
NOTE: Minus (-) indicates net loss.




EARNINGS OP INSURED COMMERCIAL BANKS

143

T a b le 133.

RATIOS OP EARNINGS, EXPENSES, AND DISPOSITION OP PROFITS OP
O p e r a t in g I n s u r e d C o m m e r c ia l B a n k s , C a le n d a r Y e a r s 1934-1937
(Amounts per $100 of total assets) 1
21934
Number of banks5. .

Current operating earnings:
Interest and discounts on loans..................................
Interest and dividends on securities...........................
Commissions, fees, and collection, exchange, and ser­
vice charges.............................................................
Other current operating earnings................................
Gross current operating earnings.....................
Current operating expenses:
Interest on time and savings deposits........................
Interest and discount on borrowings..........................
Salaries, wages, and fees..............................................
Taxes...........................................................................
Depreciation on banking house, furniture and fixtures.
Other current operating expenses...............................
Total current operating expenses......................

21935

21936

1937

14,124

14,110

13,956

13,783

$1.53
1 .2 2

$1.33
1.14

$1.24
1.07

$1.29
1.04

.17
.45
3.37

.19
.42
3.08

.41
2.92

.44
2.97

$0.72

$0.57

$0.44

$0.43

.0 2

.0 1

.0 0

.89
.17

.2 0

.2 0

.0 0

.84
«.19
*.09
.56

.57
2.48

.1 1

.85
16
.08
.57
2.24

.82
<.18
8.09
.56
2.09

2 .1 1

Net current operating earnings................................

$0.89

$0.84

$0.83

$0 . 8 6

Profits on assets sold or exchanged, recoveries and
reductions in valuation allowances:
Profits on securities sold or exchanged.......................
Recoveries and reductions in valuation allowances on
loans.........................................................................
Recoveries and reductions in valuation allowances on
securities..................................................................
All other recoveries, profits on assets sold, and reduc­
tions in valuation allowances..................................
Total profits on assets sold, recoveries, e tc.. . .

(«)

(8
)

$0.50

$0 .2 1

$0 . 1 2

$0.17

.46

.2 1

.16

.6 6

.33

.1 1

.07
.65

.07
.90

.05
1.09

.08
.56

Net earnings, profits and recoveries on assets, etc.

$1.54

$1.74

$1 92

$1.42

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

$1.23
.87

$0 .6 6
.50

$0.47
.29

$0.26
.32

.19
2.29

.15
1.31

.18
.94

.14
.72

Net profits before dividends.......................................

7
$0.98

7
$0.69

$-0.75

$0.43

Cash dividends declared and interest paid on
capital....................................................................

.42

.43

Net profits after dividends.........................................

$-1.17

.42

.41

$0.56

$0.28

Averages of figures for beginning, middle, and end of year.
^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. See NOTE on page 65.
3
Excludes the following insured banks not members of the Federal Reserve System: 25 for 1934;
16 for 1935; 17 for 1936; and 14 for 1937. Excludes in addition for 1936, 52 national banks and 9 State
banks members of the Federal Reserve System, reporting for the first half of the year only, the figures
of which are included.
^Excludes “ income taxes*' paid by banks not members of the Federal Reserve System.
^Includes “ other expenses of occupancy and maintenance of banking quarters” for banks not mem­
bers of the Federal Reserve System.
•Included with recoveries.
7
After payment of “ income taxes” . See footnote 4.
NOTE: Minus (-) indicates net loss.




T a b le 134.

EARNINGS, EXPENSES, AND DISPOSITION OP PROFITS OF OPERATING INSURED COMMERCIAL BANKS NOT MEMBERS OF THE

F ederal R eserve System , C alendar Y ears 1 9 3 4 -1 9 3 7
Amounts in thousands of dollars
21934

Total

1935

1936

1937

7,682

7,723

7,580

7,442

7,351

91

7,682

7,723

7,580

7,442

149,129
75,713

143,319
79,894

148,170
86,365

156,093
90,803

155,287
90,467

806
336

$2.42
1.23

$2 .2 1
1.23

$2.13
1.24

$2.14
1.24

20,124
26,769
271,735

25,201
27,927
276,341

33,877
24,357
292,769

33,126
30,080
310,102

32,875
29,994
308,623

251
1,479

.33
.42
4.40

.39
.43
4.26

.49
.35
4.21

.45
.41
4.24

$1.28
.06

$1.06

$0.89

$0.83

86

68,512
1,411
75,620
4
15,368

61,664
1,017
78,632
13,961

60,582
757
83,712
16,422

60,373
757
83,189
16,328

209

*8,288
46,142
226,132

* ,2 2 2
6
47,435
214,568

13,475
41,914
210,663

14,514
45,033
2 2 1 ,0 2 0

14,444
44,703
219,794

Net current operating earnings........................

45,603

61,773

82,106

89,082

(6
)
(6
)

(•)
(6
)

36,975
1,524

523
94

.0 2

02

.01

.24

1.16
.24

1.13

1.14

.2 0

.22

70
330
1,226

.13
.75
3.66

.09
.73
3.30

.19
.60
3.03

.62
3.02

88,829

253

$0.74

$0.96

$1.18

$1 .2 2

18,244
2,076

18,206
2,072

38
4

$0.53

$0.25
.03

1 .2 0

.0 2

.20

8,381

9,765

16,148

14,309

14,251

58

$0.14

$0.15

.23

.20

20,529

38,897

14,653

7,572

7,556

16

.33

.60

.21

.10

8,776
37,686

7,370
56,032

7,083
76,383

10,354
52,555

10,260
52,345

94
210

.14
.61

.11
.8 6

.11
1 .1 0

.14
.72

Net earnings, profits and recoveries on assets
etc.....................................................................

83,289

117,805

158,489

141,637

141,174

463

$1.35

$1.82

$2.28

$1.94

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

99,862
70,770

65,897
40,263

43,213
23,166

36,660
28,415

36,358
28,331

302
84

$1.61
1.15

$1 .0 2
.62

$0.62
.33

$0.50
.39

27,375
198,007

16,607
122,767

31,588
97,967

28,223
93,298

28,035
92,724

188
574

.45
3.21

.26
1.90

.46
1.41

.39
1.28




CORPORATION

79,666
3,682
73,798
414,556

INSURANCE

Current operating expenses:
Interest on time and savings deposits...............
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.............
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 allow­
ances on loans..................................................
Recoveries and reductions in valuation allow­
ances on securities...........................................
All other recoveries and reductions in valuation
allowances........................................................
Total profits on assets sold, recoveries, etc.

1934

DEPOSIT

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

1936

FEDERAL

Number of banks3 ........................................

21935

Amounts per $100 of total assets1

1937
1Operating Operating
throughout less than
entire year full year

Net profits before income taxes and dividends
Income taxes, Federal and State.....................
Net profits after income taxes..........................
Cash dividends declared and interest paid on
capital:
Interest paid on capital notes and debentures and
dividends declared on preferred stock 8 ...........
Dividends declared on common capital8 ...........
Total cash dividends declared and interest
paid on ca p ita l.........................................

(7
)
(7
)
-4,962

60,522
2,442
58,080

48,339
4,848
43,491

48,450
4,838
43,612

-1 1 1
10
-1 2 1

7,205
17,311

(7
)
(?)
-114,718

6,227
18,196

6,218
18,155

9
41

$-0.08

$0.87
.04
.83

$0 .6 6
.07
.59

$0 .1 0
.25

$- 1 .8 6

$0.09
.24

24,516

24,423

24,373

50

$0.23

$0.31

.35

.33

33,564

19,068

19,239

-171

$-2.09

$-0.39

$0.48

$0.26

Other additions to capital account:
Preferred capital sold (par or face value).........
Common capital sold (par or face value)..........
Premiums on new capital sold............................
Deposits waived and subordinated....................
Assessments and other contributions................
Total other additions to capital account 8

4,022
2,670
2,982
287
2,713
12,674

1,474
3,953
2,810
90
1,768
10,095

1,366
3,762
2,778
90
1,746
9,742

108
191
32

$0.06
.04
.04

$0 .0 2
.06
.04

22

353

.04
.18

Other deductions from capital accou nt:
Preferred capital retired (par or face value) . . . .
Common capital retired (par or face value) . . . .
Premiums on preferred capital retired...............
Payments on subordinated claims.....................
Total other d e d u c t io n s fr o m ca p ita l
account 8

16,645
594
29
5,087
22,355

15,040
467
253
3,897
19,657

14,994
462
253
3,890
19,599

46
5

$0.24

$0 .2 1

.01

7
58

.07
.32

.01
.00

.00
.02

.14

.05
.27

9,382

124

$0.34

$0.13

1,006,927
1,016,309

6,895
7,019

14-65
14.99

13.87

ASSETS8
Cash and due from banks..................................
Securities.............................................................
Loans...................................................................
Miscellaneous assets...........................................
Total assets...................................................

1,567,381
2,439,957
2,497,141
450,971
6,955,450

1,612,757
2,645,720
2,640,610
409,559
7.308.646

1,597,382
2,631,770
2,622,995
407,445
7.259.592

15,375
13,950
17,615
2,114
49,054

$22.53
35.08
35.90
6.49

$22.07
36.20
36.13
5.60

1 0 0 .0 0

1 0 0 .0 0

LIABILITIES AND CAPITAL8
Demand deposits.........................................
Time deposits...............................................
Total deposits........................................
Miscellaneous liabilities...............................
Total capital account..................................
Total liabilities and capital a ccou n t.

2,877,642
2,961,437
5,839,079
72,695
1,043,676
6,955,450

3,064,795
3,159,695
6,224,490
60,068
1,024,088
7.308.646

3,036,855
3,145,623
6,182,478
59,967
1,017,147
7.259.592

27,940
14,072
42,012

$41.37
42.58
83.95
1.05
15.00

$41.93
43.24
85.17
.82
14.01

1 0 0 .0 0

100 .0 0

1 4 ‘00

Average of assets and liabilities : 1

101

6,941
49,054

‘Averages of figures for beginning, middle, and end of year for 1934, 1935, and 1937; averages of end-of-month figures for 1936.
2
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.
3
Excludes banks as follows: 25 for 1934; 16 for 1935; 17 for 1936; and 14 for 1937.
includes “ income taxes” .
5 Depreciation on banking house, furniture and fixtures” only,
“
included with recoveries.
7
Not available. See footnote 4.
8
Amounts not reported in 1934 and 1935.
9
Figure does not agree with that shown in Assets and Liabilities of Operating Insured Banks, December SI, 1937, Report No. 8 due to changes made subsequent to the
tabulation of the call report.
NOTE: Minus (-) indicates net loss.




BANKS

9,506
1,013,822
H,023,328

Net change in total capital account for period8
Total capital account at beginning of year9...............
Total capital account at end of year8 ........................

COMMERCIAL

23,883
1,019,078
1,042,961

O INSURED
F

20,473
-25,435

EARNINGS

13,929
-128,647

Net profits after dividends..................

4^
CR

T a b le 135.

EARNINGS, EXPENSES, AND DISPOSITION OP PROFITS OF INSURED COMMERCIAL BANKS NOT MEMBERS OF THE
F ederal R eserve System , C alendar Y ear 1937

Banks with average deposits of—
All
banks

1

$500,000 $1 ,0 0 0 ,0 0 0 $2 ,0 0 0 ,0 0 0 $5,000,000 $1 0 ,0 0 0 ,0 0 0
Over
to
to
to
to
to
$1 ,0 0 0 ,0 0 0 $2 ,0 0 0 ,0 0 0 $5,000,000 $1 0 ,0 0 0 ,0 0 0 $50,000,000 $50,000,000

$1 0 0 ,0 0 0
to
$250,000

$250,000
to
$500,000

7,351

582

2,123

2,046

155,287
90,467

2,169
325

13,669
4,154

22,013
9,606

26,240
13,649

32,875
29,994
308,623

638
143
3,275

3,509
890
2 2 ,2 2 2

5,245
1,679
38,543

264

2 ,8 8 6

81

55

5

26,790
16,063

23,979
16,708

13,357
7,905

19,053
15,436

8,017
6,621

5,618
2,527
48,034

5,300
3,643
51,796

4,496
4,652
49,835

2,436
4,003
27,701

4,698
10,865
50,052

935
1,592
17,165

8,733
299
14,105
3,044

3,539
499

763

(In thousands of dollairs)
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.............

60,373
757
83,189
16,328

42
7,046
1,114

6,561
50
11,063
1,831

9,163
103
12,821
2,363

10,741
140
13,389
2,773

11,148
94

1,172
182

2,797

5,520
18
7,386
1,725

14,444
44,703
219,794

154
617
2,400

907
3,617
15,612

1,545
5,701
26,751

1,905
7,002
33,357

2,235
7,193
36,471

2,115
7,006
35,828

1,254
4,202
20,105

3,445
7,321
36,947

884
2,044
12,323

Net current operating earnings.........................

88,829

875

6,610

11,792

14,677

15,325

14,007

7,596

13,105

4,842

18,206
2,072

42
9

672
146

1,534

2,540
262

3,009
348

3,616
392

2,085
143

3,552
425

1,156
137

14,251

173

1,179

1,715

1,794

2,024

1,840

1 ,0 1 1

3,758

757

7,556

36

340

658

1,056

1,592

1,528

652

1,463

231

10,260
52,345

66

326

383
2,720

664
4,781

873
6,525

982
7,955

1,256
8,632

1,047
4,938

3,674
12,872

1,315
3,596

141,174

1 ,2 0 1

9,330

16,573

2 1 ,2 0 2

23,280

22,639

12,534

25,977

8,438

36,358
28,331

486
90

2,602
1,126

3,837
2,735

4,701
4,144

4,639
5,492

5,769
5,350

3,945
2,775

8,040
5,896

2,339
723

28,035
92,724

249
825

1,635
5,363

2,364
8,936

3,279
12,124

3,858
13,989

4,381
15,500

2,698
9,418

6,031
19,967

3,540
6,602

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 allow­
ances on loans...................................................
Recoveries and reductions in valuation allow­
ances on securities............................................
All other recoveries and reductions in valuation
allowances.........................................................
Total profits on assets sold, recoveries, etc.
Net earnings, profits and recoveries on assets,
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.......................




11

210

1 2 ,6 6 8

5,357

CORPORATION

Current operating expenses:
Interest on time and savings deposits.................
Tnforoaf* qhH rlianrmnf ati hnrrnwin(Ml
Salaries, wages, and fees......................................
Taxes (other than on income).............................
Other expenses of occupancy and maintenance of
jte banking quarters..............................................
Other current operating expenses........................
Total current operating expenses..............

INSURANCE

362

1,334

DEPOSIT

$1 0 0 ,0 0 0
and
under

FEDERAL

Number of banks..........................................

14
6

BANKS OPERATING THROUGHOUT ENTIRE YEAR GROUPED BY AMOUNT OF DEPOSITS

3,967 |
403
3,564

7,637
707
6,930

9,078
901
8,177

9,291 !
786 '
8,505 1

7,139
549
6,590

3,116
330
2,786

6 ,0 1 0

719
5,291

1,836
388
1,448

Gash dividends declared and interest paid on
capital:
Interest paid on capital notes and debentures and
dividends declared on preferred stock.............
Dividends declared on common capital..............
Total cash dividends declared and interest
paid on capital...........................................

6,218
18,155

61
159

385
1,354

614
2,339

848
2,790

2,562

1 ,1 2 2

1,300
2,725

606
1,674

895
3,546

387
1,006

24,373

220

1,739

2,953

3,638

3,684

4,025

2,280

4,441

1,393

Net profits after dividends.................................

19,239

101

1,825

3,977

4,539

4,821 i

2,565

506

850

55

Other additions to capital account:
Preferred capital sold (par or face value)...........
Common capital sold (par or face value)...........
Premiums on new capital sold............................
Deposits waived and subordinated.....................
Assessments and other contributions..................
Total other additions to capital account.

1,366
3,762
2,778
90
1,746
9,742

29

88

238
501
126
90
380
1,335

335
489
358

362
528
494

346
159

1,065
891

500
700

148
1,330

174
1,558

si
606

281
2,437

1 ,2 0 0

Other deductions from capital account:
Preferred capital retired (par or face value). . . .
Common capital retired (par or face value).......
Premiums on preferred capital retired................
Payments on subordinated claims......................
Total other deductions from capital
accou nt.......................................................

2,800
151
35
971

2,564
3
5
689

889

1,682

2,458

Net change in total capital account for period.

6

123
19

94
204
31

103

68

245
475

369
698

14,994
462
253
3,890

58

863

1,716
98

15

316

694

1,964
90
181
852

19,599

73

1,309

2,510

3,087

3,957

3,261

1,242

1,702

2,458

9,382

131

991

2,165

2,787

2,194

862

-130

1,585

-1,203

Total capital account* December 31, 1936............... 1,006,927
Total capital account, December 81, 1937............... 1,016,809

14,81*8
14,479

78,895
79,886

116,864
119,029

147,689
150,476

165,989
168,183

178,05k
178,916

89,91*8
89,818

166,952
168,537

48,188
46,985

120
10

2

20

353

200

20

Average of assets and liabilities :l
1,597,382
2,631,770
2,622,995
407,445
7,259,592

17,215
8,976
26,634
3,477
56,302

125,334
113,834
187,992
19,301
446,461

226,781
264,078
330,115
30,983
851,957

261,973
375,920
409,957
45,872
1,093,722

279,977
447,907
451,451
61,314
1,240,649

250,157
494,172
432,389
72,678
1,249,396

130,674
238,934
230,244
47,b03
647,355

232,661
468,303
382,928
104,257
1,188,149

72,610
219,646
171,285
22,060
485,601

LIABILITIES AND CAPITAL
Demand deposits..................................................
Time deposits.......................................................
Total deposits................................................
Miscellaneous liabilities.................................
Total capital account...........................................
Total liabilities and capital account.........

3,036,855
3,145,623
6,182,478
59,967
1,017,147
7,259,592

30,078
11,598
41,676
291
14,335
56,302

233,222
132,019
365,^41
1,958
79,262
446,461

422,960
308,328
731,288
2,706
117,963
851,957

488,687
448,043
936,730
7,153
149,839
1,093,722

520,364
543,261
1,063,625
9,165
167,859
1,240,649

474,937
587,189
1,062,126
7,863
179,407
1,249,396

255,885
292,406
548,291
8,954
90,110
647,355

491,076
506,626
997,702
20,193
170,254
1,188,149

119,646
316,153
435,799
1,684
48,118
485,601

^sset and liability items are averages of figures for December 31, 1936, June 30, 1937, and December 31, 1937.
NOTE: Minus (-) indicates net decrease in total capital account.
Back figures—See the following Annual Reports: 1936, p. 168; 1935, p. 216; 1934, p. 236.




BANKS

ASSETS
Cash and due from banks....................................
Securities..............................................................
Loans....................................................................
Miscellaneous assets.............................................
Total assets....................................................

COMMERCIAL

376
55
321

O INSURED
F

48,450
4,838
43,612

EARNINGS

Net profits before income taxes and dividends
Income taxes, Federal and State......................
Net profits after income taxes...........................

T a b l e 13 6.

AVERAGES PER BANK OF EARNINGS, EXPENSES, AND DISPOSITION OF PROFITS OF INSURED COMMERCIAL BANKS NOT
M e m b e r s of t h e F e d e r a l R e se r v e S y s t e m , C a l e n d a r Y e a r 1937
BANKS OPERATING THROUGHOUT ENTIRE YEAR GROUPED BY AMOUNT OF DEPOSITS

£

Banks with average deposits of— 1
All
banks

Net current operating earnings.........................

7,351

582

2,123

2,046

1,334

763

362

81

55

$21,125
12,307

$3,727
558

$6,438
1,957

$10,759
4,695

$19,670
10,232

$35,111
21,053

$66,240
46,155

$164,901
97,593

$346,418
280,655

$1,603,400
1,324,200

4,472
4,080
41,984

1,096
246
5,627

1,653
419
10,467

2,563
821
18,838

4,211
1,894
36,007

6,946
4,774
67,884

12.420
12,850
137,665

30,074
49,420
341,988

85,418
197,545
910,036

187,000
318,400
3,433,000

$8,213
103
11,317

$1,359

$6,869
77
9,611
1,771

$14,077
183
17,548
3,634

$30,796
260
34,994
7,727

91,185
21,296

$158,782
5,436
256,455
55,345

$1,071,400

3,319
525

$3,207
24
5,407
895

$68,148

2 ,2 2 1

$454
19
2,014
313

1,965
6,081
29,900

265
1,059
4,124

427
1,704
7,354

755
2,787
13,075

1,428
5,249
25,005

2,929
9,428
47,799

5,842
19,353
98,9/2

15,482
51,877
248,210

62,636
133,109
671,763

176,800
408,800
2,464,600

$12,084

$1,503

$3,113

$5,763

$1 1 ,0 0 2

$20,085

$38,693

$93,778

$238,273

$968,400

$2,477
282

$72
15

$317
69

$750
103

$1,904
196

$3,944
456

$9,989
1,083

$25,741
1,765

$64,582
7,727

$231,200
27,400
151,400

20

222

5

707,800
99,800

1,939

297

555

838

1,345

2,653

5,083

12,481

68,327

1,028

62

160

322

792

2,087

4,221

8,049

26,600

46,200

1,395
7,121

114
560

180
1,281

324
2,337

654
4,891

1,286
10,426

3,469
23,845

12,927
60,963

66,800
234,036

263,000
719,200

Net earnings, profits and recoveries on assets,
etc.....................................................................

$19,205

$2,063

$4,394

$8 ,1 0 0

$15,893

$30,511

$62,538

$154,741

$472,309

$1,687,600

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

$4,946
3,854

$835
155

$1,226
530

$1,875
1,337

$3,524
3,106

$6,080
7,198

$15,936
14,779

$48,704
34,259

$146,182
107,200

$467,800
144,600

3,814
12,614

427
1,417

770
2,526

1,156
4,368

2,458
9,088

5,056
18,334

12,103
42,818

33,309
116,272

109,654
363,036

708,000
1,320,400




CORPORATION

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 allow­
ances on loans...................................................
Recoveries and reductions in valuation allow­
ances on securities............................................
All other recoveries and reductions in valuation
allowances.........................................................
Total profits on assets sold, recoveries, etc.

$500,000 $1 ,0 0 0 ,0 0 0 $2,000,0001 $5,000,000 $1 0 ,0 0 0 ,0 0 0
Over
to
to
to
to
to
$50,000,000
$1 ,0 0 0 ,0 0 0 $2 ,0 0 0 ,0 0 0 $5,000,0001$10,000,000 $50,000,000
(2
)

INSURANCE

Current operating expenses:
Interest on time and savings deposits.................
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..............

$250,000
to
$500,000

DEPOSIT

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

$1 0 0 ,0 0 0
to
$250,000

FEDERAL

Number of banks..........................................

$1 0 0 ,0 0 0
and
under

Net profits before Income taxes and dividends
Income taxes, Federal and State.................
Net profits after income taxes......................
Cash dividends declared and interest paid on
capital:
Interest paid on capital notes and debentures and
dividends declared on preferred stock...
Dividends declared on common capital..............
Total cash dividends declared and interest
paid on capital...........................................
Other additions to capital account:
Preferred capital sold (par or face value)...........
Common capital sold (par or face value)...........
Premiums on new capital sold.............................
Deposits waived and subordinated.....................
Assessments and other contributions..................
Total other additions to capital account.

$646
95
551

$1 ,8 6 8 i
190 |
1,678 1

$3,732
345
3,387

$6,805
$12,177
675 !1
1,030
6,130 j
11,147

i

$846
2,470

§106
272

$181
638 1|

$300
1,143

$636
2,091

$38,469
4,074
34,395

$109,273
13,073
96,200

$367,200
77,600
289,600

$7,481
20,667

$16,273
64,473

2 0 1 ,2 0 0

i

!

J

$19,720
1,516
18,204

;

i
$1,470
3,358 |

$3,591
7,528

$77,400

3,316

378

1,443

2,727

11,119

28,148

80,746

278,600

$2,617

$173

$859

$1,944

$3,403

$6,319

$7,085

$6,247

$15,454

$1 1 ,0 0 0

$186
512
378

$50

$41
58
9

$46

$178
376
94
67
285

$439
641
469

$1 ,0 0 0
1,459
1,365

$247
4,271
1,963

$3,636
19,364
16,200

$1 0 0 ,0 0 0
140,000

i94
1,743

480
4,304

1 ,0 0 0

1 ,0 0 0

7,481

5,109
44,309

240,000

$3,670
198
46
1,272

$7,082

$10,975

$30,582

$491,600

14
1,904

4,358

10

819 |

100

15

12

4,828 j

180
341

Other deductions from capital account:
Preferred capital retired (par or face value). . . .
Common capital retired (par or face value).......
Premiums on preferred capital retired................
Payments on subordinated claims......................
Total other deductions from capital
account........................................................

$2,040
63
34
529

$ 10 0

$839
48

25

$407
57
5
147

339

$1,472
67
136
639

2 ,6 6 6

125

616

1,227

2,314

5,186

9,008

15,333

30,945

491,600

Net change in total capital account for period.

$1,276

$225

$467

$1,058

$2,089

$2,876

$2,381

$-1,605

$28,818

$-240,600

Total capital account, December 81, 1986...............
Total capital account, December 31, 1937...............

136,978
138,254

24,653
24,878

37,162
37,629

57,118
58,176

110,711
112,800

217,547
220,428

491,862
494,243

1,110,469
1,108,864

8,035,491
8,064,309

9,687,600
9,897,000

ASSETS
Cash and due from banks....................................
Securities..............................................................
Loans....................................................................
Miscellaneous assets.............................................
Total assets....................................................

$217,301
358,016
356,822
55,427
987,566

$29,579
15,423
45,763
5,974
96,739

$59,036
53,620
88,550
9,091
210,297

$110,841
129,070
161,347
15,143
416,401

$196,381
281,799
307,314
34,387
819,881

$366,942
587,034
591,679
80,359
1,626,014

LIABILITIES AND CAPITAL
Demand deposits..................................................
Time deposits.......................................................
Total deposits.................................................
Miscellaneous liabilities.......................................
Total capital account...........................................
Total liabilities and capital account.........

$413,122
427,918
841,040
8,158
138,368
987,566

$51,680
19,928
71,608
500
24,631
96,739

$109,855
62,185
172,040
922
37,335
210,297

$206,725
150,698
357,423
1,323
57,655
416,401

$366,332
335,864
702,196
5,362
112,323
819,881

$681,997 $1,311,981 $3,159,074 $8,928,655 $23,929,200
712,006
1,622,069 3,609,951 9,211,382 63.230.600
1,394,003 2,934,050 6,769,025 18,140,037 87,159,800
1 2 ,0 1 2
21,721
110,543
367,145
336,800
219,999
495,599 1,112,469 3,095,527
9.623.600
1,626,014 3,451,370 7,992,037 21,602,709 97,120,200

1

8

363

Average of assets and liabilities :1
$691,041 $1,613,259 $4,230,200 $14,522,000
1,365,116 2,949,802 8,514,600 43.929.200
1,194,445 2,842,519 6,962,327 34,257,000
200,768
586,457 1,895,582
4,412,000
3,451,370 7,992,037 21,602,709 97.120.200

J
Asset and liability items are averages of figures for December 31, 1936, June 30, 1937, and December 31, 1937.
^Because of the small number of banks, the figures for this group are not necessarily typical of banks with deposits of over $50,000,000.
NOTE: Minus (— indicates net decrease in total capital account.
)
Back figures—See the following Annual Reports: 1936, p. 170; 1935, p. 218 (revised); 1934, p. 238.




BANKS

116
224

COMMERCIAL

117
177

O INSURED
F

237
1,325

EARNINGS

Net profits after dividends...................

$6,591
658
5,933

SO

T a b le 137.

R a t io s OP EARNINGS, EXPENSES, AND DISPOSITION OF PROFITS OF INSURED COMMERCIAL BANKS NOT MEMBERS
o f t h e F e d e r a l R e se r v e Sy s t e m , C a l e n d a r Y e a r 1937
BANKS OPERATING THROUGHOUT ENTIRE YEAR GROUPED BY AMOUNT OF DEPOSITS
Banks with average deposits of—
All
banks

Net current operating earnings.........................

Current operating expenses:
Interest on time and savings deposits.................
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..............
Net current operating earnings




582

2,123

2,046

$50.32
29.31

$66.23
9.92

$61.51
18.69

$57.11
24.92

$54.63
28.42

$51.72
31.01

$48.12
33.53

$48.22
28.54

$38.07
30.84

$46.71
38.57

10.65
9.72

19.48
4.37

15.79
4.01

13.61
4.36

11.69
5.26

10.23
7.04

9.02
9.33

1 0 0 .0 0

1 0 0 .0 0

1 0 0 .0 0

1 0 0 .0 0

8.79
14.45

1 0 0 .0 0

9.39
21.70

5.45
9.27

1 0 0 .0 0

1 0 0 .0 0

1 0 0 .0 0

1 0 0 .0 0

1 0 0 .0 0

$19.56
.25
26.95
5.29

$8.06
.34
35.78
5.56

$12.99
.19
31.71
5.01

$17.02
.13
28.70
4.75

$19.08

$20.74
.27
25.85
5.35

$22.37
.19
25.42
5.61

$19.93
.06
26.66
6.23

$17.45
.60
28.18
6.08

$31.21

26.69
4.92

4.68
14.49
71.22

4.70
18.84
73.28

4.08
16.27
70.25

4.01
14.79
69.40

3.97
14.58
69.45

4.31
13.89
70.41

4.24
14.06
71.89

4.53
15.17
72.58

14.63
73.82

6 .8 8

5.15
11.90
71.79

$28.78

$26.72

$29.75

$30.60

$30.55

$29.59

$28.11

$27.42

$26.18

$28.21

$2.14
1.25

$3.85
.58

$3.06
.93

$2.58
1.13

$2.40
1.25

$2.16
1.29

$1.92
1.34

$2.06
1 .2 2

$1.60
1.30

$1.65
1.36

.45
.41
4.25

1.13
.26
5.82

.79
4.98

.20

.62
.19
4.52

.51
.23
4.39

.43
.29
4.17

.36
.37
3.99

.38
.62
4.28

.40
.91
4.21

.19
.33
3.53

$0.83

$0.47

$0.65

$0.77

$0.84

$0.87

$0.89

$0.85
1.14
.27

$0.73
.03
1.19
.26

$1 .1 0

.01

.18
.42
2.53
$1 .0 0

.01

.02

.01

.01

.21

.01

1.58
.25

1.30

1.17

1.08

.2 2

2.08
.32

.21

.2 2

.2 2

.01
1 .0 1
.2 2

.2 0

.27

.20

.17
.64
3.05

.18
.58
2.94

.17
.57
2.87

3.11

.66

.29
.61
3.11

$1.34

$1.23

$1 .1 2

$1.17

$1 .1 0

1.15
.62
3.03

4.26

.81
3.50

.18
.67
3.14

$1 .2 2

$1.56

$1.48

$1.38

1 .1 0

.0 0

.19

20.62
2.91

.73
.10

CORPORATION

Amounts per $100 o f total assets1
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.............

7,351

$500,000 $1 ,0 0 0 ,0 0 0 $2 ,0 0 0 ,0 0 0 $5,000,000 $1 0 ,0 0 0 ,0 0 0
Over
to
to
to
to
to
$50,000,000
$1 ,0 0 0 ,0 0 0 $2 ,0 0 0 ,0 0 0 $5,000,000 $1 0 ,0 0 0 ,0 0 0 $50,000,000
(*)
1,334
763
362
81
55
5

INSURANCE

Current operating expenses:
Interest on time and savings deposits.................
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..............

$250,000
to
$500,000

DEPOSIT

Amounts per $100 of gross earnings
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..............

$1 0 0 ,0 0 0
to
$250,000

FEDERAL

Number of banks..........................................

$1 0 0 ,0 0 0
and
under

1

Recoveries, profits on securities, etc....................
Losses and depreciation on assets.......................
Net profits before incoir e taxes and dividends
Income taxes, Federal and State........................
Net profits after incom e taxes........................
Cash dividends declared......................................
Net profits after dividends. , ..........................
Other additions to total capital account.............
Other deductions from total capital account
Net change in total capital a ccou n t.. . . . . . .
Total capital account, December 31, 1936.............
Total capital account, December 31, 1937.............

$0.72
1.27
.67
.07
.60
.34
.26
.14
.27
.13
13.87
14.00

.57
.39
.18
.18
.13
.23
25.^8
25.71

17.67
17.89

Amounts per $ 1 0 0 o f total capital
account 1
Net current operating earnings.....................
Recoveries, profits on securities, etc....................
Losses and depreciation on assets.......................
Net profits before income taxes and dividends
Income taxes, Federal and State........................
Net profits after income taxes........................
Cash dividends declared......................................
Net profits after dividends..............................
Other additions to total capital account.............
Other deductions from total capital account. . . .
Net change in total capital account.............

$8.73
5.15
9.12
4.76
.47
4.29
2.40
1.89
.96
1.93
.92

$6 .1 0
2.27
5.75
2.62
.38
2.24
1.54
.70
.72
.51
.91

$8.34
3.43
6.77
5.00
.51
4.49
2.19
2.30
.60
1.65
1.25

$1 0 .0 0
4.05
7.58
6.47
.60
5.87
2.50
3.37
.59

$5.92

$8.14

$7.27

3.44
.69

3.62
.47

3.65
.59

1.92
1.39
1.08

2.28
1.82
1 .0 0

$2 2 .0 0
36.25
36.13
5.62

.1 0

$0.61
1 .2 0

.89
.09
.80
.39
.41

$0.60

$0.64

1 .1 1

1 .1 2

.83
.08
.75
.33
.42

.75
.06
.69
.30
.39

$0.69
1.24
.57
.04
.53
.32

$1.08
1 .6 8

.50
.06
.44
.37
.07

$0.74
1.36
.38
.08
.30
.29
.01

.20

.25
.51
-.25
9.92
9.67

$8.43
5.48
10.45
3.46
.37
3.09
2.53
.56
.67
1.38
-.15

$7.70
7.56
11.73
3.53
.42
3.11
2.61
.50
1.43

$10.06
7.47
13.72
3.81
.80
3.01
2.89

1 .0 0

.93

2.49
5.11
-2.50

$5.55

$5.80

$4.98

$4.68

3.38
.73

3.31
.87

3.30
.76

3.01
.53

1.98
1.03
1.23

1.90
1.33
1.08

1.89
1.71
1.16

1.72
2 .1 0

1.26

1.69
1.37
.33

$23.95
34.37
37.48
4.20

$22.57
36.10
36.39
4.94

$2 0 .0 2
39.55
34.61
5.82

$20.19
36.91
35.57
7.33

1 0 0 .0 0

1 0 0 .0 0

$19.58
39.41
32.23
8.78

$14.95
45.23
35.27
4.55

BANKS

.2 1
.12

$0.76
1.45
.48
.05
.43
.35
.08
.09
.19

COMMERCIAL

$0.56
1.05
.89
.08
.81
.34
.47
.08
.30
.25
13.72
13.97

1 0 0 .0 0

1 0 0 .0 0

1 0 0 .0 0

1 0 0 .0 0

1 0 0 .0 0

$52.24
29.57
81.81
.44
17.75

$49.65
36.19
85.84
.31
13.85

$44.68
40.97
85.65
.65
13.70

$41.94
43.79
85.73
.74
13.53

$38.01
47.00
85.01
.63
14.36

1 0 0 .0 0

1 0 0 .0 0

$39.53
45.17
84.70
1.38
13.92

1 0 0 .0 0

$41.33
42.64
83.97
1.70
14.33

$24.64
65.11
89.75
.34
9.91

1 0 0 .0 0

1 0 0 .0 0

1 0 0 .0 0

1 0 0 .0 0

1 0 0 .0 0

.10

.29

.12

.11

.32
.18
13.38
13.56

.26
.07
14.25
14-32

13.89
13.87

$9.80
4.35
8.09
6.06
.60
5.46
2.43
3.03
.89
2.06

$9.13
4.74
8.33
5.54
.47
5.07

1 .8 6

2.87
.79
2.35
1.31

$7.81
4.81
8.64
3.98
.31
3.67
2.24
1.43
.87
1.82
.48

$6.67

$6.40

$5.93

8.64
.58

3.63

3.59
.67

2.19
1.38
.99

2.13
1.16
1.04

2.05
1.15
1 .1 0

$30.58
15.94
47.31
6.17

$28.07
25.50
42.11
4.32

$26.62
31.00
38.75
3.63

1 0 0 .0 0

1 0 0 .0 0

1 0 0 .0 0

$41.83
43.33
85.16
.83
14.01

$53.42
20.60
74.02
.52
25.46
1 0 0 .0 0

.2 2

2 .1 2

1.84

.6 8

2 .2 0

-.0 2

.14
.13
14-05
14.18

.1 2

Average o f assets and liabilities per $100 o f
total assets :1
ASSETS
Cash and due from banks....................................
Securities..............................................................
Loans................................................................
Miscellaneous assets.............................................
Total assets.....................................................
LIABILITIES AND CAPITAL
Demand deposits..................................................
Time deposits.......................................................
Total deposits................................................
Miscellaneous liabilities.......................................
Total capital account..........................................
Total liabilities and capital account.........

1 0 0 .0 0

i

JAsset and liability items are averages of figures for December 81, 1936, June 30, 1937, and December 81, 1937.
xTr\™
^Se
eS
/nla^ ?*urtl^er of banks, the figures for this group are not necessarily typical of banks with deposits of over $50,000,000.
NOTE: Minus (-) indicates net decrease in total capital account.
Back figures—See the following Annual Reports: 1936, p. 172; 1935, p. 220; 1934, p. 240.




O INSURED
F

.28
.26
13.50
13.76

EARNINGS

Special ratios
Interest and discount on loans per $ 1 0 0 of total
loans1.................................................................
Interest and dividends on securities per $ 1 0 0 of
total securities1 .................................................
Profits on securities per $ 1 0 0 of total securities1..
Interest on time deposits per $100 of time deposits
of individuals, partnerships, and corporations1
Losses on loans per $ 1 0 0 of total loans1 ..............
Losses on securities per $100 of total securities1.

$0.58
1.47
.67

T a b le 138.

EARNINGS, EXPENSES, AND DISPOSITION OP PROFITS OF INSURED COMMERCIAL BANKS NOT MEMBERS OF THE

F ederal R eserve System , C alender Y ear 1937
BANKS OPERATING THROUGHOUT ENTIRE YEAR GROUPED ACCORDING TO POPULATION OF CENTER IN WHICH LOCATED
(Amounts in thousands of dollars)

ur

Banks in centers with population of—
banks

500
to
1 ,0 0 0

1 ,0 0 0

to
2,500

2,500
to
5,000

5.000
to
1 0 .0 0 0

1 0 ,0 0 0

to
25,000

25.000
to
50.000

50,000
and
over

671

1,365

1,624

1,517

705

495

358

160

456

155,287
90,467

3,967
1,330

9,882
3,864

15,145
7,160

20,375
10,541

14,894
9,271

15,901
9,455

16,531
11,290

9,314
5,969

49,278
31,587

32,875
29,994
308,623

661
146
6,104

1,922
527
16,195

3,330
992
26,627

4,784
1,901
37,601

3,353
1,705
29,223

2,946
2,244
30,546

3,172
2,774
33,767

1,445
1,754
18,482

11,262
17,951
110,078

7,397

4,046
38
4,485

60,373
757
83,189
16,328

1,208
9
1,774
236

3,018
18
4,644
712

4,993
34
7,449
1,236

6,910
37
10,186
1,968

5,620
60
7,677
1,452

6,158
14
7,881
1,794

8,392
1,870

1 ,0 2 0

21,023
535
30,701
6,040

14,444
44,703
219,794

214
899
4,340

520
2,483
11,395

1 ,0 0 2

3,849
18,563

1,309
5,463
25,873

1,127
4,113
20,049

1,175
4,281
21,303

1,570
4,789
24,030

797
2,541
12,927

6,730
16,285
81,314

Net current operating earnings.........................

88,829

1,764

4,800

8,064

11,728

9,174

9,243

9,737

5,555

28,764

18,206
2,072

242
31

687
98

1,184
141

1,765
205

1,630
236

1,673
302

2,435
191

1,118
116

7,472
752

14,251

12

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 allow­
ances on loans...................................................
Recoveries and reductions in valuation allow­
ances on securities............................................
All other recoveries and reductions in valuation
allowances.........................................................
Total profits on assets sold, recoveries, etc.

260

767

1,258

1,649

1,087

1,235

1,118

858

6,019

7,556

82

344

542

788

652

748

1,017

471

2,912

10,260
52,345

107
722

2,118

2 22

520
3,645

708
5,115

469
4,074

535
4,493

737
5,498

460
3,023

6,502
23,657

Net earnings, profits and recoveries on assets,
etc.....................................................................

141,174

2,486

6,918

11,709

16,843

13,248

13,736

15,235

8,578

52,421

36,358
28,331

629
475

1,752
1,223

2,812
2,025

3,631
2,945

2,906
2,687

2,723
2,945

4,314
3,583

1,903
1,856

15,688
10,592

28,035
92,724

393
1,497

1,006
3,981

1,689
6,526

2 ,6 8 8

2,157
7,750

2,257
7,925

2,822
10,719

1,598
5,357

13,425
39,705

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




9,264

CORPORATION

Current operating expenses:
Interest on time and savings deposits.................
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..............

INSURANCE

7,351

DEPOSIT

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

250
to
500

FEDERAL

Number of banks..........................................

Under
250

Net profits before income taxes and dividends
Income taxes, Federal and State.......................
Net profits after incom e taxes............................

48,450
4,838
43,612

989
115
874

2,937
286
2,651

5,183
470
4,713

7,579
677
6,902

5,498
453
5,045

5,811
449
5,362

4,516
390
4,126

3,221
225
2,996

12,716
1,773
10,943

6,218
18,155

99
287

319
858

415
1,536

734
2,301

590
1,731

699
1,936

738
1,802

497
892

2,127
6,812

386

1,177

1,951

3,035

2,321

2,635

2,540

1,389

8,939

19,239

488

1,474

2,762

3,867

2,724

2,727

1,586

1,607

2,004

Other additions to capital account:
Preferred capital sold (par or face value)...........
Common capital sold (par or face value)...........
Premiums on new capital sold.............................
Deposits waived and subordinated.....................
Assessments and other contributions..................
Total other additions to capital accou nt.

1,366
3,762
2,778
90
1,746
9,742

18
12
2

80
103
5

45
134
18

130
230
105

270
178
287

228
224
3

365
566
626

15
318
82

37
69

160
348

269
466

353
818

223
958

132
597

36
1,593

437

215
1,997
1,650
80
514
4,456

Other deductions from capital account:
Preferred capital retired (par or face value). . . .
Common capital retired (par or face value).......
Premiums on preferred capital retired................
Payments on subordinated claims......................
Total other deductions from capital
account........................................................

14,994
462
253
3,890

146

715
36

1,170
140

1,446
52

1,369

2,227

56

833
50

5,445
103

202

23
404

Net change in total capital account for period.

10

77

268

591

1,643
81
40
674

19,599

223

1,019

1,911

2,438

2,147

1,627

9,382

334

803

1,317

2,247

1,535

1,697

Total capital account, December 81, 1986............... 1,006,927
Total capital account, December 31, 1937............... 1,016,309

21,289
21,573

54 MU
55,047

84,586
85,908

115,757
118,004

91,824
92,859

10

102

547

22

2

20

429

2,654

1,583

5,997

525

461

463

101,765
108,462

111,837
112,862

64,647
65,108

861,528
861,991

Average of assets and liabilities :1
1,597,382
2,631,770
2,622,995
407,445
7,259,592

34,457
37,472
60,922
4,335
137,186

89,678
105,889
147,597
12,372
355,536

151,627
195,514
231,014
21,003
599,158

225,293
291,306
315,181
33,193
864,973

169,172
250,960
244,817
31,184
696,133

172,189
264,596
260,744
37,541
735,070

176,525
328,058
290,602
48,656
843,841

97,221
175,125
161,404
27,875
461,625

481,220
982,850
910,714
191,286
2,566,070

LIABILITIES AND CAPITAL
Demand deposits..................................................
Time deposits.......................................................
Total deposits.................................................
Miscellaneous liabilities.......................................
Total capital account...........................................
Total liabilities and capital account.........

3,036,855
3,145,623
6,182,478
59,967
1,017,147
7,259,592

60,034
55,577
115,611
272
21,303
137,186

162,573
137,662
300,235
793
54,508
355,536

279,506
232,853
512,359
1,602
85,197
599,158

415,626
329,769
745,395
2,241
117,337
864,973

325,286
275,252
600,538
2,902
92,693
696,133

322,162
307,634
629,796
2,209
103,065
735,070

355,354
372,397
727,751
3,400
112,690
843,841

177,997
215,102
393,099
3,419
65,107
461,625

938,317
1,219,377
2,157,694
43,129
365,247
2,566,070

^sset and liability items are averages of figures for December 31,1936, June 30, 1937, and December 31, 1937.

Back figures—See the Annual Report for 1936, p. 174.




BANKS

ASSETS
Cash and due from banks....................................
Securities..............................................................
Loans....................................................................
Miscellaneous assets.............................................
Total assets.....................................................

COMMERCIAL

698

O INSURED
F

24,373

Net profits after dividends..................................

EARNINGS

Cash dividends declared and interest paid on
capital:
Interest paid on capital notes and debentures and
dividends declared on preferred stock.............
Dividends declared on common capital..............
Total cash dividends declared and interest
paid on capital...........................................

Table 139.

RATIOS OF EARNINGS, EXPENSES, AND DISPOSITION OP PROFITS OF INSURED COMMERCIAL BANKS NOT MEMBERS
of t h e F e d e r a l R e se r v e Sy st e m , C a l e n d a r Y e a r 1937
BANKS OPERATING THROUGHOUT ENTIRE YEAR GROUPED ACCORDING TO POPULATION OP CENTER IN WHICH LOCATED
Banks in centers with population ofAll
banks

$56.88
26.89

$54.19
28.03

$50.97
31.73

495

to
25,000
358

25.000
to
50.000
160

50,000
and
over
456

$52.06
30.95

$48.96
33.44

$50.39
32.30

$44.77
28.70

5.000
to

7,351

671

$50.32
29.31

$64.99
21.79

$61.02
23.86

10.65
9.72

10.83
2.39

11.87
3.25

12.51
3.72

12.72
5.06

11.47
5.83

9.64
7.35

1 0 0 .0 0

1 0 0 .0 0

1 0 0 .0 0

8 .2 1
1 0 0 .0 0

$19.23

1 ,0 0 0

1 0 .0 0 0

1 0 ,0 0 0

9.39

7.82
9.49

10.23
16.30

1 0 0 .0 0

1 0 0 .0 0

1 0 0 .0 0

$19.56
.25
26.95
5.29

$19.79
.15
29.06
3.87

$18.64

27.09
5.23

26.27
4.97

.21

$20.16
.05
25.80
5.87

$21.91
.04
24.85
5.54

$21.89

.11

$18.75
.13
27.97
4.64

$18.38

28.67
4.40

24.27
5.52

$19.10
.49
27.89
5.49

4.68
14.49
71.22

3.51
14.72
71.10

3.21
15.33
70.36

3.76
14.46
69.71

3.48
14.53
68.81

3.86
14.07
68.61

3.85
14.01
69.74

4.65
14.17
71.16

4.31
13.74
69.94

14.79
73.87

Net current operating earnings.........................

$28.78

$28.90

$29.64

$30.29

$31.19

$31.39

$30.26

$28.84

$30.06

$26.13

Amounts per $100 o f total assets1
Current operating earnings:
Interest and discount on loans............................
Interest and dividends on securities....................
Commissions, fees, and collection, exchange, and

$2.14
1.25

$2.89
.97

$2.78
1.09

$2.53

$2.36

1 .2 0

1 .2 2

$2.14
1.33

$2.16
1.29

$1.96
1.34

$2 .0 2
1.29

$1.92
1.23

.45
.41
4.25

.48
.11

.54
.15
4.56

.56
.16
4.45

.22

4.45

4.35

.48
.25
4.20

.40
.31
4.16

.37
.33
4.00

.31
.38
4.00

.44
.70
4.29

$0.83

$0 .8 8

$0.85

$0.83

$0.80

$0.81

$0.84

$0 .8 8

$0 .8 8

$0.82

.0 0

.01
1 .1 0
.21

.00

.00

.01

1.07
.25

.99

.97

.02
1 .2 0

.2 2

.22

.24

.19
.57
2.85

.17
.55
2.80

.26
.63
3.17

$1.15

$1 .2 0

$1 .1 2

Other current operating earnings.........................
Gross current operating earnings..............
Current operating expenses:
Interest and discount on borrowings...................
Salaries, wages, and fees......................................
Taxes (other than on income).............................
Other expenses of occupancy and maintenance of

.01

.01

.01

,0 1

.1 0

.55

1.29
.17

1.31

1.24

.20

.21

1.18
.23

.20

Total current operating expenses..............

.62
3.03

.16
.65
3.16

.15
.69
3.21

.17
.64
3.10

.15
.63
2.99

2 .8 8

.16
.58
2.90

Net current operating earnings.........................

$1 .2 2

$1.29

$1.35

$1.35

$1.36

$1.32

$1.26




1.15
.22

.16
.59

.21

6 .1 1

CORPORATION

1 0 0 .0 0

Current operating expenses:
Interest on time and savings deposits.................
Inte.est 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..............

INSURANCE

1 0 0 .0 0

1 0 0 .0 0

DEPOSIT

Amounts per $100 of gross earnings
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..............

1,624

2,500
to
5,000
705

1 ,0 0 0

FEDERAL

Number of banks..........................................

to
2,500
1,517

500
to

250
to
500
1,365

Under
250

Recoveries, profits on securities, etc................
Losses and depreciation on assets..................
Net profits before income taxes and dividends
Income taxes, Federal and State.........................
Net profits after income taxes........................
Cash dividends declared......................................
Net profits after dividends..............................
Other additions to total capital account.............
Other deductions from total capital account. . . .
Net change in total capital accou nt.............
Total capital account, December 81, 193ft.............
Total capital account, December 31, 1937.............

$0.72
1.27
.67
.07
.60
.34
.26
.13
.26
.13
18.87

14.00

$0.52
1.09
.72
.08
.64
.28
.36
.05
.16
.25
15.48
15.73

$0.60
1.12
.83
.08
.75
.33
.42
.09
.28
.23
15.25
15.48

14.12
14.84

.08
.80
.35
.45
.09
.28
.26
18.88
18.64

Amounts per $100 of total capital
account 1
Net current operating earnings ...................
Recoveries, profits on securities, etc....................
Losses and depreciation on assets.......................
Net profits before income taxes and dividends
Income taxes, Federal and State........................
Net profits after income taxes........................
Cash dividends declared......................................
Net profits after dividends..............................
Other additions to total capital account.............
Other deductions from total capital account.. . .
Net change in total capital account.............

$8.73
5.15
9.12
4.76
.47
4.29
2.40
1.89
.96
1.93
.92

$8.28
3.39
7.03
4.64
.54
4.10
1.81
2.29
.32
1.04
1.57

$8.80
3.89
7.30
5.39
.53
4.86
2.16
2.70
.64
1.87
1.47

$9.46
4.28
7.66
6.08
.55
5.53
2.29
3.24
.55
2.24
1.55

$5.92

$6.51

$6.70

3.44
.69

3.55
.65

3.65
.65

1.92
1.39
1.08

2.17
1.03
1.27

$22.00

$25.12
27.31
44.41
3.16

13.12
13.34

.23
18.84
14.07

$0.65
1.27
.53
.04
.49
.30
.19
.19
.31
.07
18.25
18.32

$10.00
4.36
7.90
6.46
.58
5.88
2.59
3.29
.70
2.08
1.91

$9.89
4.40
8.36
5.93
.49
5.44
2.50
2.94
1.04
2.32

$8.64
4.88
9.51
4.01
.35
3.66
2.25
1.41
1.41
2.36
.46

$8.54
4.64
8.23
4.95
.35
4.60
2.13
2.47
.67
2.43
.71

$7.88
6.48
10.87
3.49
.49
3.00
2.45
.55

1 .6 6

$8.97
4.36
7.69
5.64
.44
5.20
2.55
2.65
.58
1.58
1.65

$6.56

$6.46

$6.08

$6 .1 0

$5.69

$5.77

$5.41

3.66
.61

3.62
.61

3.69
.65

3.57
.63

3.44
.74

3.41
.64

3.21
.76

2.19
1.19
1.15

2.14

2 .1 0

2.04
1.19
1.07

2 .0 0
1 .1 1

1.99
1.48
1.09

1 .8 8

1 .0 1

1.18
1.06

1.72
1.72
1.08

$25.22
29.78
41.51
3.49

$25.31
32.63
38.56
3.50

100.00

$26.05
33.68
36.44
3.83
100.00

$24.30
36.05
35.17
4.48
100.00

$23.42
36.00
35.47
5.11

$20.92
38.87
34.44
5.77

$21.06
37.94
34.96
6.04

$18.75
38.31
35.49
7.45

BANKS

$0.58

COMMERCIAL

$0.59
1.07

$45.73
38.72
84.45

$46.65
38.86
85.51
.27
14.22

$48.05
38.12
86.17
.26
13.57

$46.73
39.54
86.27
.42
13.31

$43.83
41.85
85.68
.30
14.02

$42.11
44.13
86.24
.40
13.36

$38.56
46.60
85.16
.74
14.10

$36.57
47.52
84.09

.2 2

1.04

1.15

1.11

.79
.07
.72
.33
.39
.14
.31

.2 2

$0.61
1.08
.79
.06
.73
.36
.37
.08
.22

1.04

$0.65
1.15
.70
.05
.65
.30
.35
.09
.34
.1 0

$0.92
1.54
.50
.07
.43
.35
.08
.17
.23
.0 2

14.00
14.10

14.09
14.11

1 .2 2

1.64
.13

Average o f assets and liabilities per $100 of
total assets : 1
ASSETS
Cash and due from banks....................................
Securities..............................................................
Loans....................................................................
Miscellaneous assets.............................................
Total assets....................................................

100.00

$41.83
43.33
85.16
.83
14.01

100.00

100.00

$43.76
40.51
84.27
.2 0

15.53

100.00

100.00

.22

15.33

100.00

100.00

100.00

JAsset and liability items are averages of figures for December 31, 1936, June 30, 1937, and December 31, 1937.
Back figures—See the Annual Report for 1936, p. 176.




100.00

100.00

100.00

100.00

100.00

100.00

100.00

100.00

1 .6 8

14.23

100.00

155

LIABILITIES AND CAPITAL
Demand deposits.................................................
Time deposits.......................................................
Total deposits................................................
Miscellaneous liabilities.......................................
Total capital account..........................................
Total liabilities and capital account.........

36.25
36.13
5.62

O INSURED
F

1 .2 2

.8 8

EARNINGS

Special ratios
Interest and discount on loans per $10C of total
loans1.................................................................
Interest and dividends on securities per $100 of
total securities1 .................................................
Profits on securities per $100 of total securities1..
Interest on time deposits per $ 1 0 0 of time deposits
of individuals, partnerships, and corporations1
Losses on loans per $100 of total loans1 .............
Losses on securities per $100 of total securities1.

$0.61
1.09
.87
.08
.79
.33
.46
.08
.32

T a b le 140.

EARNTNGS, EXPENSES, AND DISPOSITION OP PROFITS OP INSURED COMMERCIAL BANKS NOT MEMBERS OP THE
F e d e r a l R e s e r v e S y st e m , C a l e n d a r Y e a r 1937

BANKS OPERATING THROUGHOUT ENTIRE YEAR GROUPED ACCORDING TO RATE OF NET EARNINGS ON TOTAL ASSETS
All
banks

1

Less than
$0.50

Less than
$0.50

$0.50
to $0.99

$1 . 0 0
to $1.49

$1.50
to $1.99

$2 . 0 0
to $2.49

$2.50
to $2.99

7,351

42

74

528

1,655

2,303

1,544

665

294

246

155,287
90,467

431
286

947
908

(lil thousands of dollars)
32,596
55,786
8,978
23,256
36,282
6,478

29,557
15,852

14,367
4,800

4,553
1,860

8,072
745

32,875
29,994
308,623

125
1,043

391
306
2,552

2,298
3,215
20,969

5,789
10,974
72,615

10,795
8,777
111,640

6,845
3,195
55,449

2,916
1,879
23,962

1,840
755
9,008

1,876
692
11,385

548
46
1,016
196

4,460
15
7,200
1,542

15,646
401
21,864
4,610

24,882
27,481
5,623

9,236
46
13,844
2,567

3,309
53
5,993
927

856
14
2,361
364

58
2,925
398

201

$3.00
and over

14,444
44,703
219,794

255
1,298

111

264
581
2,651

1,819
3,781
18,817

4,147
11,508
58,176

4,282
15,211
77,591

2,099
7,362
35,154

882
3,246
14,410

319
1,153
5,067

521
1,606
6,630

Net current operating earnings.........................

88,829

-255

-99

2,152

14,439

34,049

20,295

9,552

3,941

4,755

18,206
2,072

188
30

248
24

1,893
165

5,022
582

6,661
819

2,867
318

964
93

243

120

60,373
757
83,189
16,328

314
12

505
101

1 12

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 allow­
ances on loans...................................................
Recoveries and reductions in valuation allow­
ances on securities............................................
AU other recoveries and reductions in valuation
allowances.........................................................
Total profits on assets sold, recoveries, etc.

10.260
52,345

74
410

41
559

759
5,306

3,906
14,950

3,479
18,019

Net earnings, profits and recoveries on assets,
etc.....................................................................

141,174

155

460

7,458

29,389

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

36,358
28,331

74
128

741
205

3,067
1,907

28,035
92,724

128
330

660
1,606

3,474
8,448




1 ,1 2 2

22

19

357

542

14,251

43

180

2,018

3,353

4,261

2,335

1,162

7,556

75

66

471

2,087

2,799

1,303

611

91

53

1,104
7,927

652
3,482

160
873

85
819

52,068

28,222

13,034

4,814

5,574

10,885
8,230

11,601
9,534

5,503
5,413

2,635
2,153

661
547

1,191
214

7,098
26,213

8,448
29,583

4,239
15,155

2,032
6,820

1,185
2,393

771
2,176

CORPORATION

Current operating expenses:
Interest on time and savings deposits.................
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..............

INSURANCE

$0.50
and over

DEPOSIT

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

Banks with net current operating earnings per $100 of total assets of —

FEDERAL

Number of banks..........................................

Banks with net current
operating deficits per
$ 1 0 0 of total assets of- 1

-175
3
-178

-1,157

-990
95
-1,085

3,176
512
2,664

Gash dividends declared and interest paid on
capital:
Interest paid on capital notes and debentures and
dividends declared on preferred stock.............
Dividends declared on common capital..............
Total cash dividends declared and interest
paid on capital...........................................

6,218
18,155

10
6

31
46

365
810

1,566
2,950

24,373

16

77

1,175

Net profits after dividends...................

19,239

-194

-1,234

-2,260

75

43
740
729

372
972
697
80
509
2,630

Other additions to capital account:
Preferred capital sold (par or face value)...........
Common capital sold (par or face value)...........
Premiums on new capital sold............................
Deposits waived and subordinated.....................
Assessments and other contributions................
Total other additions to capital account.

1,366
3,762
2,778
90
1,746
9,742

Other deductions from capital account:
Preferred capital retired (par or face value). . . .
Common capital retired (par or face value).......
Premiums on preferred capital retired................
Payments on subordinated claims......................
Total other deductions from capital
account........................................................

14,994
462
253
3,890

60

19,599

62

-1,146
11

119
119

81

2

25

6

187
1,699

22,485 1
1,673
20,812 |

13,067 |
1,028
12,039 j

5,528

2,421 I
341
2,080 1

3,398
489
2,909

352
1,955

145
882

83
1,009

6,214
686

2,674
6,854

992
3,643

4,516

9,528

4,635

1,027

1,092

-1,852

11,284

7,404

3,221

1,053

1,817

832
1,227
1,189

77
623
163

17
109

16

625
3,873

151
1,014

2,307

25

10

74
210

49
65

26
51

292

226

2,329
42
778

6,593
60
16
1,206

2,377
116
34
1,025

1,873
31

128

1,277
75
161
293

235

116

109

153

1,806

3,269

7,875

3,552

2,139

408

335

120

-137

-1,306

-2,367

-2,491

7,282

4,866

1,292

710

1,533

1,006,927
1,016,309

6,488
6,351

14,470
18,164

76,401
74,084

263,641
261,150

360,082
367,364

167,162
172,028

64,818
66,110

29,892
80,102

24,473
26,006

ASSETS
Cash and due from banks....................................
Securities..............................................................
Loans....................................................................
Miscellaneous assets.............................................
Total assets....................................................

1,597,382
2,631,770
2,622,995
407,445
7,259,592

9,211
9,433
1 1 ,1 0 0

2,931
32,675

17,839
27,981
20,951
7,867
74,638

164,889
211,371
189,302
42,467
608,029

439,391
707,575
608,478
139,731
1,895,175

559,592
1,067,700
988,138
134,457
2,749,887

257,995
420,449
465,395
50,798
1,194,637

89,736
123,701
198,721
15,785
427,943

34,193
46,004
58,322
7,996
146,515

24,536
17,556
82,588
5,413
130,093

LIABILITIES AND CAPITAL
Demand deposits..................................................
Time deposits.......................................................
Total deposits................................................
Miscellaneous liabilities.......................................
Total capital account...........................................
Total liabilities and capital account.........

3,036,855
3,145,623
6,182,478
59,967
1,017,147
7,259,592

9,392
16,056
25,448
806
6,421
32,675

24,997
32,667
57,664
3,015
13,959
74,638

272,685
256,536
529,221
2,881
75,927
608,029

800,716
813,085
1,613,801
16,808
264,566
1,895,175

1,068,311
1,303,952
2,372,263
12,591
365,033
2,749,887

547,834
467,769
1,015,603
8,718
170,316
1,194,637

192,329
164,149
356,478
5,914
65,551
427,943

76,006
39,399
115,405

44,585
52,010
96,595
8,024
25,474
136,093

Average of assets and liabilities : 1

1
Asset and liability items are averages of figures for December 81, 1936, June 30, 1937, and December 31, 1937.
NOTE: Minus (-) indicates deficit, net loss, or net decrease in total capital account.
Back figures—See the Annual Report for 1936, p. 182.

1 ,2 1 0

29,900
146,515

BANKS

9,382

Total capital account, December 81, 1936...............
Total capital account, December 81, 1937...............

COMMERCIAL

Net change in total capital account for period.




O INSURED
F

48,450
4,838
43,612

EARNINGS

Net profits before income taxes and dividends
Income taxes, Federal and State......................
Net profits after income taxes...........................

T a b le 141.

RATIOS OF EARNINGS, EXPENSES, AND DISPOSITION OF PROFITS OF INSURED COMMERCIAL BANKS NOT MEMBERS
o f t h e F e d e r a l R e s e r v e S y s t e m , C a l e n d a r Y e a r 1937

O
X

BANKS OPERATING THROUGHOUT ENTIRE YEAR GROUPED ACCORDING TO RATE OF NET EARNINGS ON TOTAL ASSETS
All
banks

Net current operating earnings.........................

Current operating expenses:
Interest on time and savings deposits.................
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..............
Net current operating earnings.........................




528

1,655

2,303

1,544

665

294

246

$50.32
29.31

$41.33
27.42

$37.11
35.58

$42.82
30.89

$44.89
32.03

$49.97
32.50

$53.31
28.59

$59.96
20.03

$50.54
20.65

$70.90
6.54

10.65
9.72

11.98
19.27

15.32
11.99

10.96
15.33

7.97
15.11

9.67
7.86

12.34
5.76

12.17
7.84

20.43
8.38

16.48
6.08

1 0 0 .0 0

1 0 0 .0 0

1 0 0 .0 0

1 0 0 .0 0

1 0 0 .0 0

1 0 0 .0 0

1 0 0 .0 0

1 0 0 .0 0

1 0 0 .0 0

1 0 0 .0 0

$19.56
.25
26.96
5.29

$30.11
1.15
48.42
9.68

$21.48
1.80
39.82
7.68

$21.27
.07
34.35
7.35

$21.55
.55
30.11
6.35

$22.29
.1 0

$16.66
.08
24.96
4.63

$13.81

24.61
5.04

25.01
3.87

.22

$9.50
.16
26.21
4.04

$9.86
.51
25.68
3.50

4.68
14.48
71.22

10.64
24.45
124.45

10.34
22.76
103.88

8.67
18.03
89.74

5.71
15.85
80.12

3.84
13.62
69.50

3.79
13.28
63.40

3.68
13.55
60.14

3.54
12.80
56.25

4.58
14.10
58.23

$28.78

$-24.45

$-3.88

$10.26

$19.88

$30.50

$36.60

$39.86

$43.75

$41.77

$2.14
1.25

$1.32

$1.27
1 .2 2

$1.47
1.07

$1.71
1.23

$2.03
1.32

$2.47
1.33

$3.36

.88

$3.10
1.27

$6 .2 1
.57

.45
.41
4.25

.38
.62
3.20

.52
.41
3.42

.38
.53
3.45

.31
.58
3.83

.39
.32
4.06

.57
.27
4.64

.44
5.60

.68

1.26
.52
6.15

1.44
.53
8.75

$0.83

$0.96
.04
1.55
.31

$0.73
.06
1.37
.26

$0.73

$0.83

$0.90

$0.77

$0.77

$0.58

1.19
.25

1.15
.24

.02

.0 0
1 .0 0
.2 0

1.16

1.40

.21

.22

$0 .8 6
.04
2.25
.31

.2 0

.35
.78
3.55

.30
.62
3.09

.2 2

.61
3.07

.16
.55
2.81

.18
.62
2.94

.2 2

.62
3.03

.34
.78
3.98

.76
3.37

.79
3.46

.40
1.23
5.09

$1 .2 2

$-0.78

$-0.13

$0.36

$0.76

$1.25

$1.70

$2.23

$2.69

$3.66

.01

1.15
.2 2

.0 0

.0 0

1 .1 2

.01

.21

.01

1.61
.25

CORPORATION

Amounts per $100 of total assets1
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..............

74

INSURANCE

Current operating expenses:
Interest on time and savings deposits.................
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..............

42

DEPOSIT

Amounts per $100 of gross earnings
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..............

7,351

FEDERAL

Number of banks..........................................

00

Banks with net current
operating deficits per
Banks with net current operating earning3 per $100 of total assets of— 1
$ 1 0 0 of total assets of- 1
$2 .0 0
$2.50
$3.00
$.50
$0.50
$1 .0 0
$1.50
Less than Less than
to $2.49
to $2.99
and over
to $0.99
to $1.49
and over
$0.50
to $1.99
$0.50

Recoveries, profits on securities, etc....................
Losses and depreciation on assets...................
Net profits before income taxes and dividends
Income taxes, Federal and State........................
Net profits after income taxes........................
Cash dividends declared......................................
Net profits after dividends..............................
Other additions to total capital account.............
Other deductions from total capital account.. . .
Net change in total capital account.............
Total capital account, December SI, 1986 ...........
Total capital account, December 8 1 ,19S7...........

1 .0 1

-.54
.0 0

-.54
.05
-.59
.36
.19
-.42
19.86
19.44
$-3.97
6.39
5.14
-2.72
.05
-2.77
.25
-3.02

$5.92
3.44
.69

.01

-1.55
.1 0

-1.65
.11
.21

-1.75
19.39
17.64
$-0.71
4.00
11.50
- 8 .2 1
.08
-8.29
.55
-8.84
.58

$0.87
1.39
-.16
.0 2

-.18
.19
-.37
.28
.30
-.39
12.57
12.18
$2.83
6.99
1 1 .1 2

$0.79
1.38
.17
.03
.14
.24
-.1 0

.14
.17
-.13
IS.91
18.78
$5.46
5.65
9.91

$0.81
1.59
1.45
.16
1.29
.54
.75
.05
.50
.30
15.15
15.45

$0.60
1.64
1.65
.23
1.42
.70
.72
.04
.28
.48
20.06
20.54

$0.63
1.67
2.62
.38
2.24
.84
1.40
.04
.26
1.18
18.81
19.99

$13.18
2.92

$18.67
3.22
8.55
13.34
1.92
11.42
4.29
7.13

2 .8 6

$14.57
5.31
10,40
9.48
1.05
8.43
3.52
4.91
.32
3.26
1.97

1.37
2.37

6 .0 2

$0.65
1.08
.82
.06
.76
.35
.41
.14
.29
.26
18.10
1
S.S6

$0 .6 6
1.27
1.09
.08

$9.33
4.94

$11.92
4.65
8.90
7.67
.60
7.07
2.72
4.35
.60
2.09

8 .1 1

.39
.62
.08
.29
.41
13.99
14-40

8 .0 0
8 .1 0

-9.36

-1.30
.13
-1.43
1.55
-2.98
2.24
2.38
-3.12

$3.88

$4.52

$4.74

$5.36

$5.65

$6.35

$7.23

$7.81

$9.77

3.03
1.99

3.25
.89

3.06
.90

3.29
.71

3.40
.62

3.77

3.88
.78

4.04
.53

4.24

1.92
1.39
1.08

1.96
.67
1.36

1 .6 8

3.54
.73

1.74
1.62
.90

1.92
1.79
1.16

1.91
1.17
.89

1.97
1.18
1.29

2 .0 2

1.33
1.74

2.17
1.13
1.19

2.16
1.44

1 .8 6

.97
-2.13

1 .1 0

1.71
-.70
.99
1.23
-.94

6.16
.46
5.70
2.61
3.09
1.06
2.16
1.99

1 .0 1

1 .2 0

.19

1 .0 1

.68

1.14
6.96
3.44
3.52
.22

.20

1.31

.68

1 .2 2

Average of assets and liabilities per $100 of
total assets :l
$2 2 .0 0
36.25
36.13
5.62

$28.19
28.87
33.97
8.97

$23.90
37.49
28.07
10.54

$27.12
34.76
31.13
6.99

$23.18
37.34
32.11
7.37

$20.35
38.83
35.93
4.89

$21.60
35.19
38.96
4.25

$20.97
28.91
46.43
3.69

$23.34
31.40
39.80
5.46

$18.86
13.49
63.49
4.16

1 0 0 .0 0

1 0 0 .0 0

1 0 0 .0 0

1 0 0 .0 0

1 0 0 .0 0

1 0 0 .0 0

1 0 0 .0 0

1 0 0 .0 0

1 0 0 .0 0

1 0 0 .0 0

LIABILITIES AND CAPITAL
Demand deposits.................................................
Time deposits.......................................................
Total deposits................................................
Miscellaneous liabilities.......................................
Total capital account..........................................
Total liabilities and capital account.........

$41.83
43.33
85.16
.83
14.01
100.06

$28.74
49.14
77.88
2.47
19.65

$33.49
43.77
77.26
4.04
18.70

$44.85
42.19
87.04
.47
12.49

$42.25
42.90
85.15
.89
13.96

$38.85
47.42
86.27
.46
13.27

$45.85
39.16
85.01
.73
14.26

$44.94
38.36
83.30
1.38
15.32

$51.88
26.89
78.77
.83
20.40

$34.27
39.98
74.25
6.17
19.58

1 0 0 .0 0

1 0 0 .0 0

1 0 0 .0 0

1 0 0 .0 0

1 0 0 .0 0

1 0 0 .0 0

1 0 0 .0 0

1 0 0 .0 0

1 0 0 .0 0

x
Asset and liability items are averages of figures for December 31, 1936, June 30, 1937, and December 31, 1937.
NOTE: Minus (-) indicates deficit, net loss, or net decrease in total capital account.
Back figures—See the Annual Report for 1936, p. 184.




BANKS

ASSETS
Cash and due from banks....................................
Securities..............................................................
Loans....................................................................
Miscellaneous assets.............................................
Total assets....................................................

COMMERCIAL

$8.73
5.15
9.12
4.76
.47
4.29
2.40
1.89
.96
1.93
.92

$0.75
2.16
-1.54

O INSURED
P

Special ratios
Interest and discount on loans per $100 of total
loans1.................................................................
Interest and dividends on securities per $100 of
total securities1 .................................................
Profits on securities per $100 of total securities1..
Interest on time deposits per $100 of time deposits
of individuals, partnerships, and corporations1
Losses on loans per $100 of total loans1 .............
Losses on securities per $100 of total securities1.

14-00

$1.25

EARNINGS

Amounts per $100 o f total capital
account 1
Net current operating earnings.....................
Recoveries, profits on securities, etc....................
Losses and depreciation on assets.......................
Net profits before income taxes and dividends
Income taxes, Federal and State........................
Net profits after income taxes........................
Cash dividends declared......................................
Net profits after dividends..............................
Other additions to total capital account.............
Other deductions from total capital account. . . .
Net change in total capital account.............

$0.72
1.27
.67
.07
.60
.33
.27
.13
.27
.13
13.87

T a b le 142.

N E T CURRENT OPERATING EARNINGS OP INSURED COMMERCIAL BANKS NOT MEMBERS OP THE
F e d e r a l R e s e r v e S ystem , C a l e n d a r Y e a r 1937

NUMBER OP BANKS OPERATING THROUGHOUT ENTIRE YEAR GROUPED ACCORDING TO RATE OP NET EARNINGS ON TOTAL ASSETS,
AMOUNT OP DEPOSITS, POPULATION OP CENTER IN WHICH LOCATED, AND NUMBER OP COMMERCIAL BANKING OFFICES IN CENTER IN WHICH LOCATED
Banks with net current
operating deficits per
Banks with net current operating earnings per $100 of total assets of— 1
All
$ 1 0 0 of total assets of— 1
banks
$0.50
Less than Less than
$0.50
$1 .0 0
$1.50
$2 .0 0
$2.50
$3.00
and over
$0.50
$0.50
to $0.99
to $1.49
to $1.99
to $2.49
to $2.99
and over
528

1,655

2,303

1,544

665

294

582
2,123
2,046

14
15
4

17
23
15

69
146
138

98
424
450

575
670

121

98
484
456

65
233
189

50

50

122

101

70

54

$500,000 to $1,000,000.........................................
$1 ,0 0 0 ,0 0 0 to $2 ,0 0 0 ,0 0 0 ......................................
$2,000,000 to $5,000,000......................................

1,334
763
362

4

455
280
151

270
156
60

118
44

35
16

31

$5,000,000 to $10,000,000....................................
$10,000,000 to $50,000,000..................................
Over $50,000,000..................................................

81
55
5

Banks in centers with population of—
Under 250.............................................................
250 to 500.............................................................
500 to 1,000..........................................................

671
1,365
1,624

1,000 to 2,500.......................................................
2,500 to 5,000.......................................................
5,000 to 10,000.....................................................

7
7

2
2

2

1

2
1

3

12

10
12

13
15

1,517
705
495

9

11

10,000 to 25,000...................................................
25,000 to 50,000...................................................
50,000 and over....................................................

358
160
456

Banks in centers with—
banking office....................................................
banking offices...................................................
3 banking offices...................................................

4,697
1,585
389

27
7

4 banking offices...................................................
5 banking offices...................................................
6 banking offices...................................................

166
76
61

1
1

7 or 8 banking offices...........................................
9 to 19 banking offices.........................................
Over 19 banking offices........................................

50
150
177

1
1
2

1
2

86

328

52
24

200
1 12

5

25
18

31
17
3

13
7

3
3

1

2
1

152
290
358

205
410
493

125
286
363

63
144
151

27
64
78

19
47
51

471
215
187

366
161
78

152
59
47

72
21

46
17

62
33
70

12

7
30

8
1
8

13
4
37

228
46
8

162
24
18

3

6

6
2

65
1 01

103
91
52
32

299
173

3

3

25

100

5

1
8

47

111

132
50
140

307
128
27

978
406
93

1,444
508
141

1,031
320
84

478
126
15

13
4
9

50
23
15

50
24
16

27
15

14
3
4

7
9
24

10

44
36

15
48
57

7
23
29

42
20
1
2

3
1
2

3

12

1 20

52

J
Asset and liability items are averages of figures for December 31, 1936, June 30, 1937, and December 31, 1937.
Back figures—See the Annual Report for 1936, p. 186.




10

7
4

2

246

8

15

10

12

2
1

4
5

3
3

7
7
13

2

13

6
1

CORPORATION

74

INSURANCE

42

DEPOSIT

7,351

Banks with average deposits o f — 1
$1 0 0 ,0 0 0 and under..............................................
$100,000 to $250,000............................................
$250,000 to $500,000............................................

FEDERAL

All banks................................................................

K
O

NET PROFITS BEFORE DIVIDENDS OF INSURED COMMERCIAL BANKS NOT MEMBERS OF THE
F e d e r a l R e s e r v e S y st e m , C a l e n d a r Y e a r 1937
NUMBER OF BANKS OPERATING THROUGHOUT ENTIRE YEAR GROUPED ACCORDING TO RATE OF NET PROFITS ON TOTAL ASSETS,
AMOUNT OF DEPOSITS. POPULATION OF CENTER IN WHICH LOCATED, AND NUMBER OF COMMERCIAL BANKING OFFICES IN CENTER IN WHICH LOCATED
T a b le 143.

Banks with net losses before dividends
per $ 1 0 0 of total assets of— 1

All

$1.50
and over

$1 .0 0
to $1.49

Banks with net profits before dividends per $100 of total assets of—

1

$2 .0 0
$1 .0 0
$1.50
$2.50
$3.00
$0.50
Less than Less than $0.50
to $0.99 to $1.49 to $1.99 to $2.49 to $2.99 and over
to $0.99
$0.50
$0.50
233

563

1,364

1,827

1,492

826

360

169

151

582
2,123
2,046

46
80
47

20

29
75
58

55
187
142

119
373
375

97
434
533

83
409
448

64
278
228

27
126

20

22

$500,000 to $1,000,000.........................................
$1 ,0 0 0 ,0 0 0 to $2 ,0 0 0 , 0 0 0 ......................................
$2,000,000 to $5,000,000......................................

1,334
763
362

29
26
14

19
13

39

86

54
32

229
136
91

374
228
119

299
168
59

149
73
25

27

27

9

56
30

6

2

8
2

$5,000,000 to $10,000,000....................................
$10,000,000 to $50,000,000..................................
Over $50,000,000..................................................

81
55
5

3

1

2

3
3

27
14

21

15

2

10
1

5
4

2

2
1

Banks in centers with population o f—
Under 250............................................................
250 to 500............................................................
500 to 1,000..........................................................

671
1,365
1,624

31
58
46

19
18
31

30
53
50

1,000 to 2,500.......................................................
2,500 to 5,000.......................................................
5,000 to 10,000.....................................................

1,517
705
495

37
25
15

18

44

10
10

20

10,000 to 25,000...................................................
25,000 to 50,000...................................................
50,000 and over....................................................

358
160
456

14
1
21

Banks in centers with—
banking office....................................................
banking offices..................................................
3 banking offices..................................................

4,697
1,585
389

150
65
7

1
2

4 banking offices..................................................
5 banking offices...................................................
6 banking offices...................................................

166
8
76
61 ........... 2 *

7 or 8 banking offices...........................................
9 to 19 banking offices.........................................
Over 19 banking offices.......................................

50
150
177

1
6

9

41
22

21

1




3

157
323
384

127
253
359

56
156
167

29
69
90

13
37
34

14

99
49
33

252
123
81

362
175
143

329
151
113

227
84
51

84
38
14

40
18

5
4
3

12

24

77
46
94

8

121

57
31
72

33

41

113
49

6

44

3
23

1
10

80
24
5

151
58

366

8

23

4

7

15

1
1

2
2

4

1
2

3

11

112

6

2

2

18
17

10

53
37

2

3

131
265
295

111

11

5

13
22

38
25
12
10
8
2
21

832
295
89

1 ,1 2 0

418
109

977
329
76

547
180
38

258
58
17

119
30
7

38
16

25
13

15
7
7

4
3

3

5
3

10

42
25
19

2

2

2

15
26
43

13
37
44

28
24

3

2
2

2
8
8

x
Asset and liability items are averages of figures for December 31, 1936, June i , 1937, and December 31, 1937.

Back figures—See the Annual Report for 1936, p. 187.

6

67
46

130

4

65

19

110

10
10

2

16
14

6

9

4

97
16
10

BANKS

118

COMMERCIAL

248

O INSURED
F

7,351

Banks with average deposits of — 1
$1 0 0 ,0 0 0 and under.............................................
$100,000 to $250,000...........................................
$250,000 to $500,000...........................................

EARNINGS

All banks................................................................

T a b le 144.

NET CURRENT OPERATING EARNINGS OF INSURED COMMERCIAL BANKS NOT MEMBERS OF THE
F e d e r a l R e s e r v e S y st e m , C a l e n d a r Y e a r 1937

NUMBER OF BANKS OPERATING THROUGHOUT ENTIRE YEAR GROUPED ACCORDING TO RATE OF NET EARNINGS AND NET PROFITS ON TOTAL ASSETS
Banks with net current
Banks with net current operating earnings per $100 of total assets of— 1
operating deficits per
$ 1 0 0 of total assets of- 1
$2.50
$3.00
$0.50
$1.50
$2 .0 0
$1 .0 0
$0.50
Less
to $2.99
to $1.49
to $1.99
to $2.49
and over
and over than $0.50 thanef<>.50 to $0.99
74

528

1,655

2,303

1,544

665

294

246

31

47
27

175
353

335
1,320

321
1,982

171
1,373

54
611

15
279

13
233

Banks with net losses before dividends
per $ 1 0 0 of total assets of — 1
$1.50 and over..................................................
$1.00 to $1.49...................................................
$0.50 to $0.99...................................................
Less than $0.50.................................................

248
118
233
563

10

12
2
8

38

64
29
64
164

35
17
32
87

4

4

11

24

2
1
8

5
3

Banks with net profits before dividends
per $ 1 0 0 of total assets of — 1
Less than $0.50................................................
$0.50 to $0.99...................................................
$1.00 to $1.49...................................................

1,364
1,827
1,492

$1.50
$2.00
$2.50
$3.00

to $1.99...................................................
to $2.49...................................................
to $2.99...................................................
and over..................................................

826
360
169
151

11

4

25

88

67
45
63
160

4

16
3
6

246
73
19

459
643
157

378
713
646

164
270
464

59
83
145

26
24
36

16
17

12
1
1
1

34
12

1
1

9

164
44
17

6

20

330
84
27
34

183
96
32
13

76
67
34
16

25
56
48
59

5

12

2
2
2

1

12

37

1
Total assets are averages of figures for December 31, 1936, June 30, 1937, and December 31, 1937.
Back figures—See the Annual Report for 1936, p. 188.




14
5

1

12

CORPORATION

42

1,162
6,189

INSURANCE

7,351

Banks with losses—total.................................
Banks with profits—total................................

DEPOSIT

All banks................................................................

FEDERAL

All
banks

EARNINGS OF INSURED COMMERCIAL BANKS

163

Table 145. EARNINGS, EXPENSES, AND DISPOSITION OF PROFITS OF OPERATING
I n s u r e d M u t u a l S a v in g s B a n k s , C a l e n d a r Y e a r s 1935-1937
(Amounts in thousands of dollars)
*1935
Number of banks..

1936

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
17,152
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
4
124
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

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

2,457
(5
)
1,813
1,170
1,527
6,967

4,032
1,843
999
263
4,524
11,661

3,466
2,414
774
93
3,675
10,422

Net earnings, profits and recoveries on assets, etc..................

36,810

38,693

36,657

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

2,557
3,276
2,642
8,475

1,656
3,101
6,604
11,361

4,782
7,089
3,765
15,636

28.335
(6
)

27,332
6

2 1 ,0 2 1
8

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

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

Net profits after interest and dividends.....................................

5,906

7,240

1,344

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 “ in­
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’*.
♦ Depreciation on banking house, furniture and fixtures** only,
“
included with recoveries.
®Not available. See footnote 3.




£

SUSPENSIONS, RECEIVERSHIPS, AND MERGERS
T a b le 146.

NUMBER AND DEPOSITS OF BANKS SUSPENDING OPERATIONS, 1 9 3 4 -1 9 3 7

GROUPED BY CLASS OF BANK, BY YEAR, BY AMOUNT OF DEPOSITS, AND BY STATE

Insured banks

Insured banks
Members F. R.
System
National
194

129

10

State

40
5,263
507
7,379

1,708

1,912
3,742
310,313
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
311,184
8,089

507
3,456
8,089

1,343

5,644
*6,385

41,019

13,189

48
6

36,937
9,852
m,412
19,722

1,952
9,005
310,820
19,242

28
17
14

4,623
9,257
10,880

1

3

6,893
811,184
17,970
17,116

8

5

$5,000,000 to $10,000,000..
$10,000,000 to $50,000,000.
Over $50,000,000.................
1
1
1
6

National

8

3

5
3

25
4

10
1

6
10

3

3
9
3

15
2

742
9,881
17,116

157
84
1,050
726
987

1

5

State

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

3,594
1,474

2,953
155
238
1,332
1,654

84
34
141
2,079
264
230

CORPORATION

36,904

77,923

52
39
13

$500,000 to $1,000,000. ..
$1 ,0 0 0 ,0 0 0 to $2 ,0 0 0 ,0 0 0 .
$2,000,000 to $5,000,000.




26,122

65

40
47

Banks with deposits of — 1
$1 0 0 ,0 0 0 and under.................
$100,000 to $250,000...............
$250,000 to $500,000...............

Indiana...
Iowa........
Kansas. ..
Kentucky.
Louisiana.

1,708

117

Total

INSURANCE

Calendar Year
193 4
193 5
193 6
193 7

State
Arkansas...
California...
Connecticut.
Georgia.......
Illinois........

Non­
insured
banks2

Total

Members F. R.
System

DEPOSIT

United States—total. .

Not
members
F. R.
System

2

Total

Not
members
F. R.
System

8
22

Total

Non­
insured
banks2

FEDERAL

Deposits (in thousands of dollars) 1

Number

Maryland.......
Michigan........
Minnesota. . . .
Mississippi.. . .
Missouri.........

Ohio...............
Oklahoma.. . .
Pennsylvania..
South Carolina
South Dakota.
Tennessee.......
Texas.............
Virginia..........
West Virginia.
Wisconsin.......

24
1

3
7
1

3
1
1
8
6
10
1
1
8

1

13
3
8
2

3
1
1
1

1
1
2

4

669
107
155
153
5,599

669
59
155
153
3,661

94
469
25,591
9,041
467

94
194
3,477
1,982
467

*2,964
572
5,996
305
1,175

*2,242
561
5,886
136
1,175

4,824

476
2,863
843
1,172
2,235

464
2,435
376
1,172
1,516

313

669
59
155
153
3,661
40
194
1,982
261

507

54
1,708

1,769
“ 467
*1,981
561
1,062
136

48
1,938
275
22,114
7,059
722
11
110

169

668

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.
2
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
(SeeTable 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.

MERGERS




SUSPENSIONS, RECEIVERSHIPS, A D
N

Montana........
Nebraska........
New Jersey. ..
New York. . . .
North Dakota.

1
1
2
2

05
Ol

05
05
T a b le 147.

NUMBER AND DEPOSITS OP BANKS SUSPENDING OPERATIONS, 1937

GROUPED BY CLASS OP BANK, BY AMOUNT OP DEPOSITS, AND BY STATE
Number

Deposits (in thousands of dollars) 1

Total
Total

Members F. R.
System
National

State

Insured banks
Not
members
F. R.
System

Non­
insured
banks3

Total
Total

19
16
7

1,440
2,927
3,207

1,170
2,717
3,207

4
4

4

2,583
5,971
3,594

2,583
5,971
3,594

State
Arkansas.
Georgia...
Illinois. ..
Indiana...
Iowa........

157
205
610
828
3,858

157
205
610
735
3,594

Kentucky..
Louisiana..
Maryland..
Minnesota.
Missouri...

2,582
248
669
82
1,855

2,582
248
669
82
1,744

Montana........
New Jersey. ..
New York. . ..
North Dakota.
Pennsylvania..

54
1,708
1,982
421
329

54
1,708
1,982
421
329

$500,000 to $1,000,000. ..
$1 ,0 0 0 ,0 0 0 to $2 ,0 0 0 ,0 0 0 .
$2,00d,000 to $5,000,000.

1

1

7,379

1,708

10,155

480

1,170
2,717
2,513

210

3,456
3,594

1,343

2,583
1,172

270

$5,000,000 to $10,000,000..
$10,000,000 to $50,000,000.
Over $50,000,000.................




157
205
610
735

3,594
1,474

1,982
329

1,108
248
669
82
1,744
1,708

54
421

93
264

111

CORPORATION

24
17
9

53

INSURANCE

19,242

59

State

DEPOSIT

19,722

Banks with deposits of — 1
$1 0 0 ,0 0 0 and under...................
$100,000 to $250,000.................
$250,000 to $500,000.................

Non­
insured
banks3

365

National

47

United States—tota l.

Not
members
F. R.
System

Members F. R.
System

FEDERAL

Insured banks

South Dakota
Tennessee___
Texas............
Virginia........
West Virginia.
Wisconsin___

1
1

1
1

534
322
1,879
63
1,172

2

2

164

6

3
5

6
2

5

534
310
1,879
63
1,172

534
310
1,879
63
1,172

164

164

12

MERGERS




SUSPENSIONS, RECEIVERSHIPS, A D
N

1
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.
Back figures—See the following Annual Reports: 1936, p. 192; 1935, p. 224.

T a b le 148.

N u m b er

and D eposits op I nsured B anks M erged w ith the A id op
F ederal D eposit I nsurance C orporation , 1935-1937

L oans

prom the

GROUPED BY CLASS OP BANK, BY YEAR, BY AMOUNT OP DEPOSITS, AND BY STATE
Deposits (in thousands of dollars) 1

Number

53

Calendar year
193 5
193 6
193 7

27
25

$500,000 to $1,000,000. . .
$1 ,0 0 0 ,0 0 0 to $2 ,0 0 0 ,0 0 0 .
$2,000,000 to $5,000,000.

39

39,350

14,412

4,382

20,556

1

2
10

24
14

4,357
16,699
18,294

2,166
12,246

3,734
648

4,357
10,799
5,400

1

New Jersey. . . .
New York........
North Carolina.
North Dakota..
Oklahoma........




959
1,768
2,007

161
127

15

12
8

11

1,895
3,129

1,122

8
2

6

6,099
2,944
17,405

744
2,944
9,314

5

5
1

State
Alabama.
Illinois. ..
Indiana. .
Iowa
Kansas.. .
Kentucky.........
Massachusetts.
Michigan.........
Missouri......... .
Montana..........

1,120

17

1
10
1

4,707
4,357
6,758

6,758

428
893
983
3,594
146
1
1
1
10

648
3,734

235
809

12,222

1,823
83

5,413
1,214
162
2,168
586

428
258

635
983

3,594

1,729

146
3,734

809
6,759
1,823

648

361

’ “ 83
4,404
1,214
437

162
2,168
149

CORPORATION

$5,000,000 to $10,000,000. .
$10,000,000 to $50,000,000.
Over $50,000,000...............

12

INSURANCE

Banks with deposits of — 1
$1 0 0 ,0 0 0 and under...................
$100,000 to $250,000.................
$250,000 to $500,000.................

Banks members F. R. Banks not
members
System
F. R.
System
State
National

DEPOSIT

United States—total.

Total

FEDERAL

Banks members F. R. Banks not
members
System
F. R.
System
State
National

Total

Pennsylvania.....................................................................................................
South Dakota..................................... .............................................................
Tennessee..........................................................................................................

2
1
2

I.................

2

Virginia.............................................................................................................

1 1
1
1 .................

1

6,417
127
160
78
844

Wisconsin..........................................................................................................

3 |.................

3

965

1

2,060
127
78

4,357
160
844
965

MERGERS




1
1

SUSPENSIONS, RECEIVERSHIPS, A D
N

1
Deposits are as of date of examination prior to loan.

I
I

T a b le 14 9.
Desig­
nating
number

INSURED BANKS PLACED IN RECEIVERSHIP, 19 37

Name and location

Class
Year of
organiza­
of
bank1
tion

Date of
suspension

Date of first payment
to depositors
by FDIC

Receiver

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

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
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, Michigan3 ...............

c
c
c
c
c

1904
1908
1906
1888
1927

April 23, 1937
May 1, 1937
April 30, 1937
April 29, 1937
June 17, 1937

May
May
May
May
June

State banking authority
State banking authority
FDIC
FDIC
FDIC

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

c
c
c
c
c

1901
1920
1934
1919
1932

June 15,
June 14,
June 16,
June 18,
June 23,

August 24, 1937
June 29, 1937
June 29, 1937
June 30, 1937
July 12, 1937

State banking authority
State banking authority
State banking authority
State banking authority
FDIC

96
97
98
99

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 8 , 1937
July 19, 1937
July 2 0 , 1937
July 29, 1937
July 24, 1937

State banking authority
State banking authority
State banking authority
State banking authority
State banking authority

Farmers & Merchants Bank, Newbern, Tennessee...................
Peoples Bank of Bloxom, Inc., Bloxom, Virginia......................
The Taylor National Bank of Campbeilsville, Kentucky.........
First Bank & Trust Company of Hamilton, Hamilton, Mo.. . .
The Bank of Noel, Noel, Missouri............................................

A

c
c

1900
1923
1902
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

1929
1917
1909
1902
1916

August 14, 1937
August 31, 1937
September 14, 1937
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 banking authority

87

100
1 01
102

103
104
105
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........




c
c

A
c
c
B
B

1937
1937
1937
1937
1937

3, 1937
11, 1937
12, 1937
19, 1937
17, 1937

CORPORATION

c
c
c

INSURANCE

C
C

DEPOSIT

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

FEDERAL

75
76
78
79
80

111
112

113
114
115

120
12 1
122

123
124
125

C
C
C
C

A

1912
1905
1913
1915
1922

September 25,1937
October 1, 1937
September 8 , 1937
October 7, 1937
October 2 2 , 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.....................................

C
C
C
C
C

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

C
C
C
C
c

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

FDIC
State banking authority
State banking authority
State banking authority
State 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.
2
This 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; 1935, p. 225.

171




SUSPENSIONS, RECEIVERSHIPS, A D MERGERS
N

116
117
118
119

Burt State Bank, Burt, North Dakota................................
Ringgold State Bank, Ringgold, Texas................................
Roanoke State Bank, Roanoke, Illinois...............................
Fanners State Bank of Carlisle, Carlisle, Minnesota...........
The Nescopeck National Bank, Nescopeck, Pennsylvania..

T a b le 150.

Name and location

Total, 1934-1937 (125 banks)
1934
1935
1936
1937

United
Cash and
States
Other
due from Government securities
banks
securities

Banking
Loans, dis­
house,
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
79,365
459,055
459,700
486,995

120,319
242,274
734,874
837,966

69,565
1,597,403
1273,559
1,010,689

2 ,0 0 0

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

8,905
1,500
7,567
213,487 “ ‘ * 5,003
178,519
41,625
15,811
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
21,242
11,552

2,570
3,677
38,964
24,652
47,300

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

500
2,500

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

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

86
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

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

96
97
98
99

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

223,152
513,503
245,582
265,014
103,780

27,471
70,921
67,400
44,592
18,195

15,000
19,850
14,600

1 0 ,0 0 0

25,632
177,001
25,000
289
12,243

113,920
217,653
116,199
146,762
46,414

87

100




21,168
14,426
20,606
51,163
70,919

850
2,300

13,551
13,282

2 1 ,2 2 0

6 ,0 0 0

4,500
14,988

3,500
7,546
36,993

15,483
913
3,546
187
1,357

3,800
14,005
4,000
9,500

41,588
857
11,980
13,489
19,898

741
18,066
1,153
35,782
1,030

6 ,0 0 0

CORPORATION

1,329,865
6,842,116
16,454,624
11,107,699

INSURANCE

603,519
273,638
698,440
510,479
1902,215 11,955,104
1,293,683 2,307,696

185,056
2,661,327
(9 banks)..................................................................
(24 banks)................................................................ 12,323,948 1,974,181
1
12,974,788 12,194,712
(42 banks)................................................................
(50 banks)................................................................ 19,283,376 2,238,648

DEPOSIT

Total,
Total,
Total,
Total,

Total
assets

FEDERAL

Desig­
nating
number

ASSETS OP INSURED BANKS PLACED IN RECEIVERSHIP, 1 9 3 4 -1 9 3 7
AS SHOWN BY BOOKS OF BANK AT DATE OP SUSPENSION

101
102
103
104
105

Farmers & Merchants Bank, Newbern, Tennessee...............
Peoples Bank of Bloxom, Inc., Bloxom, Virginia..................
The Taylor National Bank of Campbellsviile, Kentucky....
First Bank & Trust Company of Hamilton, Hamilton, Mo..
The Bank of Noel, Noel, Missouri........................................

263,518
100,718
1,651,200
698,098
134,787

11,037
15,793
252,976
56,621
13,244

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...

2,379,365
1,262,325
92,568
2,899,000
706,960

318,388
54,060
33,019
48,205
8,316

111
112
113
114
115

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...

63,251
92,429
265,254
99,329
396,585

7,945
8,507
31,630
12,982
35,294

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

100,373
56,561
425,410
139,109
207,642

25,376
12,912
9,641
20,656
84,836

121
122
123
124
125

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

80,302
96,667
853,353
242,220
103,477

Back figures—See the following Annual Reports: 1936, p. 194; 1935, p. 226




175,831
59,068
605,893
431,941
108,642

6,218
6,624
35,000
48,500
3,750

82,118
3,244

11,782
4,048
607,732
6,526
5,587

355,638
188,069
7,057
122,608
19,430

1,032,273
662,138
40,321
2,534,226
432,476

22,336
47,500
5,800
37,518
4,500

77,248
34,689
1,850
89,979
237,766

34,778
14,732
4,521
54,545
4,472

533
15,001
8,902
119,357

48,665
51,836
214,388
50,219
171,011

2,700
5,900
7,600
3,850
41,833

3,080
328
3,927
7,258
4,136
565 ......... 811
1,560
1,266

15,000
21,860

850
4,077
52,495
19,475
4,224

50,161
30,588
324,779
65,711
110,853

5,000
2,761
17,500

2 ,0 0 0

11,897
12,400
29,383
91,724 “ “ 8 ,375
47,050
6,450
9,284

10,533
92
268,489
77,825
44,488

56,100
538,704
261,137
11,919

7,500
27,500
26,264
15,061

6 ,0 0 0

563
6,008

2 ,0 0 0

9,407

37,898
3,275
55,878
7,350
448,005
7,500
101,207
40,085 “ ’ ' 6 ,0 0 0

527
3,900
472
9,600
4,605

2,797

3,362
215
3,995
**‘ ’ 4,932
3,772
64
28,788
88

15

SUSPENSIONS, RECEIVERSHIPS, A D MERGERS
N

1Revised.

58,650
9,185
149,599
16,297
320

T a b le 151.

L ia b il it ie s

op

I n sured Ba n k s P laced

in

R e c e iv e r s h ip , 1 9 3 4 -1 9 3 7

AS SHOWN BY BOOKS OF BANK AT DATE OF SUSPENSION

Name and location

Total, 1934-1937 (125 b an ks)..
1934
1935
1936
1937

(9 banks).......................................................
(24 banks).....................................................
(42 banks).....................................................
(50 banks).....................................................

Total
deposits

Other
liabilities,
secured

Other
liabilities,
unsecured

R. F. C.
capital

Private
capital
stock

Other
capital
accounts1

$2,955,905

$487,397

$1,856,250

$4,950,265

$586,761

2,661,327
1,951,992
8,700,485
12,323,948
11,039,098
212,974,788 2
19,283,376 14,715,286

77,630
1,826,850
246,618
1,004,807

27,333
285,036
247,077
127,951

90,000
223.000
788.000
755,250

432,100
950,000
1,069,350
2,498,815

82,272
338,577
2-15,355
181,267

50

25.000
15.000
14.000

15.000
15.000
15.000
32.000
25.000

13,313
6,748
2,109
-40,021
1,839

15.000
25.000
100,000

50.000
40.000

1,705
1,349
7,214
4,522
14,063

1937
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

138,843
84,051
50,399
323,409
164,173

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, Te:
First State Bank, Arlington, Texas.....................................
Rio State Bank, Rio, Illinois................................................

92,404
153,512
627,866
718,781
384,412

59,354
112,163
420,596
639,073
330,277

6,345

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

56,782
140,905
60,753
87,713
64.070

17

88

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

3,888
79.071
301,609
226,792
248,448

96
97
98
99

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.......

223,152
513,503
245,582
265,014
103,780

188,835
465,777
212,968
204,956
54,107

87

100




31

72

6,500

20.000

13,500
10,000

56
186

15.000

100,000

25.000
5.000
8,900
11,900
5.000

11,000

37
23
74

1,373
5,604

20,000
20,000

4,294
5,823

15,000

25,700

30.000
30.000

24,335

1 22

11,650
5,000

50.000
30.000
25.000

-4,913
-1,191
7,381
-38,476
4,334

15.000
25.000
15.000
30.000
25.000

4,280
22,703
2,614
-16
-327

15.000
15.000
30.000
25.000

10.000

10,000

1,012

CORPORATION

75
76
78
79
80

INSURANCE

$47,243,439 $36,406,861

DEPOSIT

Total,
Total,
Total,
Total,

Total
liabilities

FEDERAL

Desig­
nating
number

101

102

103
104
105

110
1 11
112

113
114
115
116
117
118
119
120
121
12 2

123
124
125

263,518
100,718
1,651,200
698,098
134,787

188,447
63,485
1,474,349
543,669
107,565

22,500

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.......

2,379,365
1,262,325
92,568
2,899,000
706,960

1,981,665
1,172,488
76,420
1,343,462
364,608

125,716

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.......

63,251
92,429
265,254
99,329
396,585

38,532
50,850
280,025
81,858
328,684

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

100,373
56,561
425,410
139,109
207,642

72,069
35,106
391,324
109,214
156,722

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

80,302
96,667
853,353
242,220
103,477

51,920
78,722
731,449
188,578
85,063

includes surplus, undivided profits, and reserve funds minus operating deficit, if any, as shown by books.
2Revised.
Back figures—See the following Annual Reports: 1936, p. 196; 1935, p. 227.




50.000
17.000
2,500

581,067
156,018

25.000
15.000
250
15,793
161
17
86,674
137

60,000
15,000
63,000

5,000

500.000
115.000
16,000
520,590
150.000

-243,809
-88,324
131
367,207
36,197

10,000

9,719
784
-64,791
7,468
-26,758

60.000

20,000

34,650

50.000

20

3
9

14
52

50.000
10.000

7,500
5,000

15.000
15.000

1 0 ,0 0 0
1 0 ,0 0 0

21.000

15.000
1 2 .0 0 0

155

10,000

2,571
9,733
26,851
17,179
-278

1 0 ,0 0 0

10,795
1 0 ,0 0 0

25.000
12,500

100,000

39,800

5,000
Minus (-) indicates net operating deficit.

15.000

10.000

15.000
15.000
34,375
50.000

10.000

5,790
1,455
3,086
4,843
25,920
1,382
2,945
47,574
3,642
3,414

SUSPENSIONS, RECEIVERSHIPS, A D MERGERS
N

106
107
108
109

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, M o....
The Bank of Noel, Noel, Missouri............................................

<1

cn

T a b l e 152.

DEPOSITS OP INSURED BANKS PLACED IN RECEIVERSHIP, 1 9 3 4 -1 9 3 7
AS SHOWN BY BOOKS OP FDIC, DECEMBER 31, 1937

Name and location

Total, 1934-1937 (125 b an ks)..
1934 (9 banks).............................................................
1935 (24 banks)...........................................................
1936 (42 banks)...........................................................
1937 (50 banks)...........................................................

Insured9

Secured and
preferred*

Subject to
offset

Uninsured,
unsecured, not
preferred, and
not subject
to offset

$27,116,687

$2,850,166

$2,142,122

$3,694,333

$901,440

1,966,872
9,045,436
11,184,688
14,507,752

942,464
6,053,521
8,137,649
11,983,053

755,533
466,207
610,226
1,018,200

94,806
538,662
597,690
910,964

102,785
1,982,043
1,013,970
595,535

71,284
5,003
825,153

42

2,113
11,917
19,786

4,322
1,644
1,752
18,669
9,791

1937
138,842
84,051
50,369
323,462
164,121

134,478
82,407
46,439
281,642
134,544

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

61,737
112,175
419,044
719,645
328,972

56,620
105,240
370,606
503,719
260,092

86
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.................

56,782
141,010
60,739
87,713
64.070

46,716
134,019
53,328
72,847
60,959

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

56,205
79.071
301,604
224,979
248,455

47,882
75,147
170,106
167,791
161,244

96
97
98
99

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

188,823
490,418
212,969
205,000
54,107

175,632
417,558
194,516
178,898
46,319

100




3,311
4,007
55,569
7,500
4,951
9,317

110,300
25,290
76,751
8,119
14,406

1,744
2,928
40,471
88,509
46,428

65
11,234
62
7,967
71,848
14,952

9,016
6,501
2,411
4,648
3,111

1,050
490
49
901

498
902
17,758
18,203

7,825
3,022
3,440
13,695
9,360

8,467
56,162
18,356
11,696
7,788

4,724
8,579
97

1,100

CORPORATION

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

INSURANCE

$36,704,748

75
76
78
79
80

87

Restricted
and deferred
deposits
uninsured

D SIT
EPO

Total,
Total,
Total,
Total,

Total1

FEDERAL

Desig­
nating
number

101

Farmers & Merchants Bank, Newbern, Tennessee.............
Peoples Bank of Bioxom, Inc., Bloxom, Virginia................
The Taylor National Bank of Campbellsville, Kentucky...
First Bank & Trust Company of Hamilton, Hamilton, Mo.
The Bank of Noel, Noel, Missouri......................................

148,564
49,753
794,231
468,536
96,304

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..

1,987,317
1,360,569
76,425
1,344,148
365,133

1,488,889
1,063,820
68,119
1,233,053
321,103

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..

38,532
51,117
280,038
81,837
328,801

32,728
47,314
244,263
67,804
302,339

116
117
118
119

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

72,069
35,106
391,471
109,214
156,722

69,685
34,178
325,101
97,952
105,795

121

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

51,935
78,729
732,823
188,578
85,064

43,241
72,198
609,985
138,513
80,836

103
104
105

106
107
108
109

110
111

112

113
114
115

120

122

123
124
125

18,427
38,717
381,428
77,190

17,012
13,731
56,404
34,884

10,021

93,279

89,845
94,971
8,306
12,557

7,364
13,300

3,062
3,803
22,651
6,669
9,254

20,938

2,343
928
44,749
11,262
10,263

14,220

8,694
5,955
47,571
8,926
4,228

4,851
63,548
1,539
1,239
27,155
124,588
5,259
44,030
2,742
13,124
* 3,908
41
683
*40,664
576
61,047
41,139

iThe amount of deposits given in Table 152 does not agree with the amount shown in Table 151 due to the inclusion in Table 152 of deposits subsequently discovered
or reclassified.
includes all deposits to be paid by FDIC.
’ Includes only the portions of secured deposits to be met by sale of security and of preferred deposits to be paid by the receiver.
Back figures—See the following Annual Reports: 1936, p. 198; 1935, p. 228.

MERGERS




SUSPENSIONS, RECEIVERSHIPS, A D
N

188,854
63,484
914,183
543,676
107,564

102

-3

T a b le 153.

PAYMENTS TO DEPOSITORS OP INSURED BANKS PLACED IN RECEIVERSHIP, 1 9 3 4 -1 9 3 7
AS SHOWN BY BOOKS OF FDIC, DECEMBER 31, 1937
Insured deposits1

Number of depositors
Name and location

Paid by
FDIC

Total
Total, 1934-1937 (125 banks)...
1934 (9 banks)..............................................................
1935 (24 banks)............................................................
1936 (42 banks)............................................................
1937 (50 banks)............................................................

Total

Unpaid

Paid

Unpaid

122,427

14,695

25,232

$27,116,687

$26,144,080

$972,607

15,540
31,612
41,695
73,507

1 1 ,2 2 0

23,249
30,355
57,603

919
2,575
4,384
6,817

3,401
5,788
6,956
9,087

942,464
6,053,521
8,137,649
11,983 053

930,182
5,883,490
7,994,073
11,336 335

12,282
170,031
143,576
646,718

58

8

134,478
82,407
46,439
281,642
134,54*4

134,136
59,031
46,257
280,658
133,188

342
23,376
182
984
1,356

25

1937
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.............................

492
428
173
1,285
698

426
255
123
1,006
629

23
187
22

151
27
92
47

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

238
419
2,951
2,593
989

165
321
1,924
1,615
682

48
77
234
344
247

793
634
60

56,620
105,240
370,606
503,719
260,092

56,425
105,185
358,822
495,395
244,401

195
55
11,784
8,324
15,691

86

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

545
622
285
257
348

271
444
223
190
221

89
129
49
42
69

185
49
13
25
58

46,716
134,019
53,328
72,847
60,959

44,685
133,931
53,145
72,571
58,649

2,031

88

183
276
2,310

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

140
190
1,062

32

1,197

107
166
757
683
816

269
273
9

47,882
75,147
170,106
167,791
161,244

47,434
62,563
167,177
167,409
145,337

448
12,584
2,929
382
15,907

96
97
98
99

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

598
3,409
899
1,092
274

434
1,662
722
728
219

116
737
113
155
25

175,632
417,558
194,516
178,898
46,319

163,717
401,010
192,234
165,830
45,955

11,915
16,548
2,282
13,068
364

87

100




1 ,0 1 0

22

1
12

21

12

36
54
372
48
1 ,0 1 0

64
209
30

88

CORPORATION

75
76
78
79
80

INSURANCE

162,354

DEPOSIT

Total,
Total,
Total,
Total,

Fully paid
by offset2

FEDERAL

Desig­
nating
number

1,232
321
2,769
3,202
750

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

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..

2,702
4,198
521
18,973
5,531

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

28,458
68,445
1,761

112

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

32,728
47,314
244,263
67,804
302,339

32,723
42,087
230,497
54,563
183,554

5
5,227
13,766
13,241
118,785

116
117
118
119

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
559
590

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

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

1,782

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

106
107
108
109
110

111

113
114
115

120

12
2

123
124
125

347
666

1,022

253

240
435
1,464
670
57

includes all deposits to be paid by FDIC.
includes all depositors whoss 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.

MERGERS




SUSPENSIONS, RECEIVERSHIPS, A D
N

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

1 01

102
103
104
105

<>
X

T a b le 154.

LOANS MADE TO AND ASSETS PURCHASED FROM INSURED BANKS BY THE FEDERAL DEPOSIT INSURANCE CORPORATION
AUGUST

Name and location
Total, 1935-1937 (53 banks)............................
Total, 1935 (1 bank).......................................
Total, 1936 (27 banks)...................................
Total, 1937 (25 banks)....................................

Number
of
accounts

Total
deposits

Disbursement
Date

Successor bank
Amount

FEDERAL

Class
of
bank1

23, 1935, TO DECEMBER 31, 1937

$16,703,992
2,862,650
6,730,830
7,110,512

114,882 $39,349,812
12,324
4,356,778
46,258 16,698,882
56,300 18,294,152




A

217

C

265

154,245

January 16, 1937

22,367

83,281

February 20, 1937

27,026

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

June 17, 1937

23,465

A

1,104

126,626

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

126,568

C

963

172,634

August 6 , 1937

34,117

A

2,437

427,993

August 12, 1937

142,623 i

Havana State Bank
Havana, North Dakota
The Bank of Baker
Baker, Montana
The First National Bank of Oneida
Oneida, Tennessee
Northampton County Trust Bank2
Cape Charles, Virginia
The Peoples National Bank of Grayville2
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)

CORPORATION

Michigan City Trust & Savings Bank
Michigan City, Indiana......................
Kochan Banking Co.
Maysville, Missouri.........................................
The First National Bank of Albertville
Albertville, Alabama............................

792

INSURANCE

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

C

DEPOSIT

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

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

B

2,818

647,721

October 1 , 1937

96,943

265,560

A

457

77,727

October 2, 1937

43,829

A

10,350

3,660,339

October 4, 1937

2,487,278

C

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

C

287

52,287

November 24, 1937

2 2 ,2 0 0

C

1,060

488,976

November 29, 1937

230,426

C

664

161,972

December 3, 1937

35,080

A

5,232

1,214,338

December 20, 1937

294,372

2
Newly organized bank.
Back figures—See Annual Report for 1936, p. 202.




16,245

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 Company2
Perth Amboy, New Jersey
First National Bank of Mundelein2
Mundelein, Illinois
The City National Bank and Trust Company of
Hackensack, New Jersey
National Bank of Burlington2
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

; B—State bank member of the Federal Reserve System; C—Bank not member of the Federal Reserve System.

SUSPENSIONS, RECEIVERSHIPS, A D MERGERS
N

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

c
c

00







INDEX




INDEX
Absorptions. See Mergers and consolidations.
Actions of Federal Deposit Insurance Corporation. See Federal Deposit
Insurance Corporation.
Administrative expenses of Federal Deposit Insurance Corporation............. 27,28
Admissions to insurance:
20
Applications approved and disapproved..............................................
By class of bank.............................................................................. 33, 70-72
Number during 1937............................................................. 20, 21, 33, 70-72
Policy of Corporation regarding...........................................................
15
Size of center in which banks were approved during 1937..................
21
Amendment of Regulation IV ......................................................................... 23,61
Applications from banks:
For loans to facilitate mergers.............................................................. 10-11
To assume deposit liabilities.................................................................
23
To become insured................................................................................
20
To change location................................................................................
23
To establish branches............................................................................
21
To release restricted deposits............................................................... 22-23
To retire or reduce capital....................................................................
22
Assessments:
Adequacy of.............................
. . . 14,16
Rate and amount.................
. . . 14,28
Assets and liabilities of banks:
All commercial banks:
December 31, 1936, June 30, 1937, and December 31, 1937. ..
106
37
June 30, 1937, compared with 1920 and 1929..........................
Insured commercial banks:
At beginning and close of year..................................................
35
Call dates, 1934-37.....................................................................108-11
December 31, 1936, June 30, 1937, and December 31, 1937. ..
106
Insured commercial banks not members of the Federal Reserve
System:
Averages 1936 and 1937............................................................
145
Call dates, June 30, 1934, to December 31, 1937................... 112-115
Grouped by amount of deposits......................116-121, 147, 149, 151
Grouped by population of center in which located.................153,155
Grouped by rate of net earnings on total assets.....................157,159
Mutual savings banks.......................................................................... 53, 107
Noninsured banks............................................................................... 106, 107
Assets and liabilities of the Federal Deposit Insurance Corporation............. 25,26
Assets, examiners’ analysis of, insured commercial banks not members of
the Federal Reserve System:
Loss and doubtful, substandard, and not criticized.................38-41, 128-31
Ratios of appraised value to book value.................................. 38-41, 132-35
Substandard assets, number and deposits of banks with....................
136
Assets of banks purchased by Federal Deposit Insurance Corporation.
See Loans to insolvent insured banks.
Assets of insured banks, quality of (see also Assets, examiners’ analysis):
During 1937........................................................................................... 3,39
Improvement since admission to insurance.........................................
39
Policy of Federal Deposit Insurance Corporation regarding...............
16
Relation to quality of management......................................................
47
Assets, percentage change in principal classes of, during 1937, insured
commercial banks not members of the Federal Reserve
System...........................................................................
36




185

186

FEDERAL DEPOSIT INSURANCE CORPORATION
Page

Assumption of uninsured deposits.

23

Balance sheet of the Federal Deposit Insurance Corporation..
Bank examinations. See Examinations of banks.
Banking developments, summary o f .

26

Banking offices, establishment of:
Banks beginning operations............................................................
32, 70
Banks opened, or opening contemplated, approved for insurance. .
20
Branches, establishment approved by Federal Deposit Insurance
Corporation....................................................
..
21
Branches opened.......................................................................
71, 72
Policy of Federal Deposit Insurance Corporation regarding. .. .
15
Relation of branch banking to holding company banking..................
17
Size of centers in which additional offices were approved by Federal
Deposit Insurance Corporation..................................
21
Banking practices (see also Unsafe and unsound banking practices)..
?
Bank management. See Management of banks, quality of.
Banks beginning operations. See Banking offices, establishment of.
Banks ceasing operations.............................................................................32, 70, 72
Banks operating branches. See Banking offices, establishment of; Number
of banks operating branches.
Board of Directors of the Federal Deposit Insurance Corporation.
7, 24
Board of Governors of the Federal Reserve System:
Banks cited to....................................................
13
Examiners' criticism of bank loans...................
42
Review of bank examinations made by..................
4, 14
Branch banks. See Number of banks operating branches.
Branches. See Banking offices, establishment of; Number of branches.
Capital of banks

(see also Assets and liabilities of banks; Earnings, expenses,

and disposition of profits):
Net capital account:
Definition..................................................................................
15
Policy of Federal Deposit Insurance Corporation regarding. ..
15
Ratio to assets............................................................................124-25
Ratio to deposits..................................................... 31, 44-46, 124-25
Ratio to total capital account........................................ 44,45,124-25
Relationship to bank management........................................... 47,136
Unsafe and unsound practices.................................................
19
Policy of Federal Deposit Insurance Corporation regarding............... 15-16
Reductions and retirements approved by the Federal Deposit In­
surance Corporation....................................................
22
Rehabilitation of capital of insured commercial banks since 1933......... 43-46
Sound capital.........................................................................................
15
Supplied by Reconstruction Finance Corporation........................43,122,123
38
Total capital account of all commercial banks 1920,1929, and 1937___
Total capital account of insured commercial banks:
Changes during 1937............................................................. 35, 43-45
Examiners' analysis, banks not members Federal Reserve
System...........................................................................124-27
Relation to deposits and assets............................................. 35, 36, 42
Relation to expansion of loans....................................................35-37
Capital of Federal Deposit Insurance Corporation..........................
26
Cash and due from banks (see also Assets and liabilities of banks)............... 35-36
Changes during 1937 in number and deposits of operating banks.
Deposits; Number of operating banks.

Chartering of banks. .



S
ee

INDEX

187
Page

Classification of banks and banking offices..........................................
65-66
Closed banks. See Receivership, insured banks placed in; Suspensions.
Commercial banks. See Assets and liabilities of banks; Capital of banks;
Deposits; Earnings, expenses, and disposition of
profits; Number of operating banks.
Commercial banking offices. See Number of operating banking offices.
Comptroller of the Currency:
18
Banks cited to.....................................
Director of Corporation..........................
7
Examiners’ criticism of bank loans............
42
National banks chartered............................
20
4, 14
Review of bank examinations made by.........
Consolidations. See Mergers and consolidations.
Demand deposits. See Deposits.
Deposit insurance, participation in. ..
.. 3, 9, 32-34, 53
Depositors. See Number of depositors.
Depositors’ claims against closed insured banks. See Receivership, insured
banks placed in.
Deposits:
Assumption of by other banks..............................
23
Changes during 1937.............................................................................
34
Classified by type of deposit (see also Assets and liabilities of banks).
34
Definition, for assessment purposes...................................................... 66-67
Demand (see also Assets and liabilities of banks). . .
34
Insured. See Insured deposits.
Interbank (see also Assets and liabilities of banks)..
34
Interest on. See Interest.
Of all banks, 1937.................................
...................... 96-99
Of all commercial banks...................................................34, 38, 96-103, 106
Of all insured banks, daily average daring 1937...........................3, 9, 96-99
Of all mutual savings banks.............................................. 96-99,104-05,107
Of banks grouped by:
Amount of deposits (see also Assets and liabilities
of banks)..........................................................96-97, 100-105
Class of bank.............................................................................. 96-99
State and possession................................................................... 98-105
Of banks merged with aid of loans or purchase of assets by the Federal
Deposit Insurance Corporation...........................4, 9, 168-69
97
Of banks operating branches................................................................
Of insured banks in receivership.......................................................... 176-77
Of insured commercial banks:
Call dates, 1934-37................................................................... 109-110
Change during 1937...................................................................
34
Daily average during 1937.........................................................96-103
December 31, 1936, June 30, 1937, and December 31, 1937. ..
106
Of insured commercial banks not members of the Federal Reserve
System:
At time of latest examination, 1937_
_
.. 126-27
Call dates, 1934-37.....................................................................113-15
Daily average during 1937......................................................... 96-99
December 31, 1937, banks grouped by amount of de­
posits................................................................. 117, 119, 121
Grouped by character of management.. ..
........... 46, 136-37
Of insured mutual savings banks:
Daily average during 1937........................................... 96-99, 104-05
December 31, 1936, June 30, 1937, and December 31, 1937. ..
107
December 31, 1937...................................................................
53
Of noninsured banks:
Average during 1937.................................................................. 96-105
December 31, 1936, June 30, 1937, and December 31, 1937............ 106, 107



188

FEDERAL DEPOSIT INSURANCE CORPORATION

Deposits:—Continued.
Page
Of suspended banks (see also Receivership, insured banks placed in ). .. 164-67
96
Of unit banks........................................................................................
Paid and unpaid in closed insured banks................................10, 11, 178-79
Payments of, to insured depositors. See Receivership, insured
banks placed in.
Postal savings deposits (see also Assets and liabilities of banks). .
34
Preferred. See Deposits, secured and preferred.
Public funds (see also Assets and liabilities of banks)......................... 34, 67
Restricted deposits........................................................................ 22-23, 176
Savings and time deposits:
Amount of (see also Assets and liabilities of banks).................
34
Interest paid on (see also Earnings, expenses, and disposition
of profits)....................................................................... 52-53
Secured and preferred:
Insured banks placed in receivership............................. 10,11,176-77
Insured commercial banks.........................................................
Ill
Insured commercial banks not members Federal Reserve
System...........................................................................
115
Sources of data..................................................................................... 65-67
Subject to offset. See Receivership, insured banks placed in.
Uninsured. See Uninsured deposits.

See Earnings, expenses, and disposition of profits.
See Earnings, expenses, and disposition of profits.

Disposition of profits.
Dividends.

Dividends paid by insured banks placed in receivership. . .
Doubtful assets.

.. 12, 13

See Assets, examiners’ analysis of.

Earnings, expenses, and disposition of profits:
All insured commercial banks.............................................. 3, 48-50, 141-43
Insured commercial banks not members of the Federal Reserve
System................................................................50-53,144-45
Insured commercial banks not members of the Federal Reserve
System operating throughout entire year 1937:
Grouped according to character of dividends paid...................
52
Grouped according to population of center..............152-55, 160, 161
Grouped according to rate of net operating earnings on total
assets................................................................ 50-51, 156-62
Grouped according to rate of net profits or losses on total
assets.................................................................51-52, 161-62
Grouped by average amount of deposits.................. 146-51, 160, 161
Grouped according to number of offices in center................ 160, 161
Ratios to gross earnings, total assets and total capital ac­
count..................................................150-51, 154-55, 158-59
Related to size of bank, size of town, and type of community. . .
51
Insured mutual savings banks............................................................54, 163
67
Sources and adjustment of data...........................................................
Employees, Federal Deposit Insurance Corporation...................................... 24-25
Examinations of banks (see also Assets, examiners’ analysis of; Capital of
banks):
Cost o f...................................................................................................
28
In connection with loans to and purchase of assets of insured banks___
14
Number by Federal Deposit Insurance Corporation, 1937........4, 9, 14, 126
Policy and program................................................................................14, 15
Purposes of............................................................................................ 3,14
Review of examinations made by Comptroller of the Currency and
Board of Governors of the Federal Reserve System. . . . 4,14
Expenses of banks.

See Earnings, expenses, and disposition of profits.

Expenses of the Federal Deposit Insurance Corporation............................25,27,28
Failures.



See Receivership, insured banks placed in; Suspensions.

INDEX

189

Federal Deposit Insurance Corporation:
Page
Actions regarding:
Applications of banks for admission to insurance...................
20
Assumption of deposit liabilities................................................
23
Branch banking..........................................................................
21
Capital of insured banks............................................................
22
Change of location of insured banks.........................................
23
Loans and purchase of assets to facilitate mergers................... 10-11
Release of restricted deposits.................................................... 22-23
Unsafe and unsound banking practices and violations of law or
regulations..................................................................... 17-19
Balance sheet.........................................................................................
26
Board of Directors................................................................................ 7, 24
Capital and surplus...............................................................................
26
Divisions and committees..................................................................... 8 , 25
Employees............................................................................................. 24, 25
Examinations of banks (see also Examinations of banks)............3, 4, 14-15
Income and expenses.........................................................................25,27,28
Investments...........................................................................................26, 28
Liquidating agent for insured banks, appointment as........................... 12-13
Loans to and purchase of assets from insured banks. . . .4, 9, 10-12, 180- 81
Losses incurred......................................................................................25, 28
Officers................................................................................................... 8 , 25
Operations............................................................................................. 9-28
Organization and staff.......................................................................... 8 , 24
Payments to insured depositors................................................ 9-11, 178-79
Policies...............................................................................................3, 13-17
Powers...................................................................................................
14
Receiver for insured banks, appointment as...........................12-13, 170-71
Recoveries on subrogated claims of insured depositors....................... 12-13
Regulations and rulings........................................................................ 23, 61
Reports to insured banks......................................................................
28
Federal Reserve Banks, review of bank examinations made by.............
14
Head offices of branch systems. See Number of banks operating branches.
Holding company banking.......................................................................
Insolvent banks

(see also Loans to insolvent insured banks; Mergers and

1"

consolidations; Receivership, insured banks placed in;
Suspensions)................................................................ 4, 9-13
Insurance coverage. See Insured deposits.
Insured banks. See:
Admissions to insurance;
Assets and liabilities of banks;
Assets, examiners’ analysis of;
Capital of banks;
Classification of banks and banking offices;
Deposits;
Earnings, expenses, and disposition of profits;
Examinations of banks;
Loans of commercial banks;
Management of banks, quality of;
Mergers and consolidations;
Number of banks operating branches;
Number of branches;
Number of operating banking offices;
Number of operating banks;
Receivership, insured banks placed in;
Regulations and rulings;
Securities;
Suspensions;
Terminations of insurance;
Unsafe and unsound banking practices.
Insured commercial banks, developments during 1937 affecting (see also In­
sured banks).................................................................. 31-52



190

FEDERAL DEPOSIT INSURANCE CORPORATION
Page

Insured commercial banks not members of the Federal Reserve System
(see also Insured banks).....................................38-42, 43-47
Insured deposits (see also Number of depositors):
Amount..................................................................................................
3, 9
Of bank in voluntary liquidation without adequate provision for
payment of depositors..................................................
9
Of insolvent banks merged with aid of loans by Federal Deposit In­
surance Corporation.............................................. 11 , 180-81
Of insured banks placed in receivership................................... 9-11, 176-79
Insured mutual savings banks (see also Mutual savings banks)............. 53-54, 163
Insured State banks members of the Federal Reserve System. See Insured
banks.
Interbank deposits. See Deposits.
Interest:
On deposits:
Rate o f....................................................................................... 52-53
Regulation of Corporation regarding.............. ......................... 23, 61
On loans and securities, rate of, 1934-37.............................................. 52-53
On preferred capital held by Reconstruction Finance Corporation,
reduction o f...................................................................
22
Investments. See Assets and liabilities of banks; Unsafe and unsound
banking practices.
Investments of the Federal Deposit Insurance Corporation. .
. .26, 28
Law, State, regarding deposit insurance..
24
Liquidation, banks placed in:
Banks in a weakened position.........
.. 9, 12
Banks operating under restrictions...................................................... 32, 70
Number............................................................................................. 32,33,70
With Federal Deposit Insurance Corporation liquidating agent........... 12-13
Without adequate provision for payment of depositors...................... 9, 171
Loans of commercial banks (see also Assets and liabilities of banks; Assets,
examiners’ analysis of; Unsafe and unsound banking
practices):
All commercial banks, quality in 1920, 1929, and 1937..
37
Insured commercial banks:
Criticized by examiners, by class of bank...........................
42
Expansion during 1937............................................................ 35-36
Policy of Federal Deposit Insurance Corporation regarding. .. 3, 16
Insured commercial banks not members of the Federal Reserve
System, examiners’ analysis:
Classified as loss and doubtful, substandard and not criticized.. 130-31
Ratios of appraised to book value.................... 41-42,134-35,138-39
Loans to insolvent insured banks by Federal Deposit Insurance Corporation:
Action of Corporation on applications.
............... 10-11
Amounts and number of loans...............
....... 11-12,180-81
............................25, 28
Losses incurred by Corporation......................
Names and location of banks to which made...................................... 180-81
Number and deposits of banks merged with aid of loans................... 168-69
Recoveries by Corporation on assets purchased or held as collateral. . .
13
Location of insured banks, changes approved by the Federal Deposit In­
surance Corporation......................................................
23
Losses of the Federal Deposit Insurance Corporation. . . .
-----25, 28
Management of banks, quality of:
Banks cited for unsafe and unsound banking practices......................
19
Insured commercial banks not members of the Federal Reserve
System..............................................................46-47, 136-37
Relation to quality of bank assets.......................................................
16
Relation to sound banking structure..............................................
14



INDEX

191

Mergers and consolidations:
Pa2e
AssumDtion of deposit liabilities...........................................................
23
During 1937..................................................................................... 32-34, 70
Of insolvent insured banks with aid of loans or purchase of assets by
Federal Deposit Insurance Corporation.. 10-12, 70, 168-69,
180-81
Mergers and liquidations of insured banks in a weakened condition..
9, 12
Morris Plan banks, classification o f ..
65
Mutual savings banks:
Assets and liabilities...............
...............53, 107
Classification of..................
......................
65
Deposits................................................................................... 96-99, 104-05
Number........................................................................................... 69, 88-89
National banks. See Comptroller of the Currency; Insured banks.
New banks. See Banking offices, establishment of.
Noninsured banks. See:
Assets and liabilities of banks;
Capital of banks;
Classification of banks and banking offices;
Deposits;
Mergers and consolidations;
Number of banks operating branches;
Number of operating banking offices;
Number of operating banks;
Number of branches;
Suspensions;
Uninsured deposits.
Number of accounts. See Number of depositors.
Number of banks operating branches:
By amount of deposits............................
....S 3 , 93
By amount of deposits at head offices.........
.............81, 93
By character of branch system.............................
................... 90-91
By class of bank.............................................................................. 73-79, 81
By number of offices in centers in which head offices are located. . . .
95
By population of centers in which head offices are located.............90, 93, 95
By States and possessions......................................................... 73-79, 90-91
Change during 1937..............................................................................31, 32
...................68, 69
December 31, 1935, 1936, and 1937........................
Number of branches:
According to location in relation to head office..............................31, 90-91
By amount of deposits.......................................................................... 81, 93
By class of bank.............................................................................. 73-79, 81
By number of offices in centers in which located. .
....................
95
By population of centers in which located....................................... 90,93, 95
By States and possessions......................................................... 73-79, 90-91
Change during 1937...................................................................31, 32, 71, 72
December 31, 1935, 1936, and 1937.................................................... 68, 69
Establishment approved by Federal Deposit Insurance Corporation..
21
Number of depositors:
All insured banks.........................
.................
3, 9
Insolvent insured banks closed...
. .4, 9-11, 178-81
Number of operating banking offices:
Additional offices approved by Federal Deposit Insurance Corporation
21
All offices...............................................................................................68, 73
By amount of deposits...............................................................80-81, 92-93
By class of bank.............................................................................. 68, 73-81
By number of offices in center in which located.................................. 94-95
By population of center in which located............................................ 92-95
By States and possessions...................................
.................... 73-79



192

FEDERAL DEPOSIT INSURANCE CORPORATION

Number of operating banking offices:—Continued.
Pase
By type of office................................................................... 31, 73-81, 92-95
Changes during 1937....................................................................... 32, 70-72
Classification................................................ ........................................ 65-66
Of commercial banks...................................................... 68 , 70, 73-81, 92-95
Of insured banks.....................................................................32,68-81,92-95
Of mutual savings banks................................................................. 69, 88-89
Of noninsured banks............................................................................. 68-81
Number of operating banks:
All banks................................................................
................. 68 , 73
All commercial banks...................................................................... 31,68,106
All mutual savings banks....................................................................69, 107
Approved for admission to insurance...................................................
20
By amount of deposits............................................................... 82-89, 92-93
By class of bank.................................................................................... 68-83
By number of offices in center in which located..................................94, 95
By population of center in which located............................................ 92-95
By States and possessions..........................................................73-79, 84-91
Changes during 1937................................................................. 32-34, 70-72
Classification......................................................................................... 65-66
Insured commercial banks:
Call dates, 1934-37.....................................................................
108
Changes during 1937...................................................... 32-34, 70-71
December 31, 1935, 1936, and 1937.........................................
68
December 31, 1936, June 30, 1937, and December 31, 1937. ..
106
December 31, 1937..................................................................... 73-87
For which earnings statements are tabulated....................... 141, 142
Insured commercial banks not members of the Federal Reserve
System:
Call dates, 1934-37.....................................................................
112
Changes during 1937................................................................. 70-71
December 31, 1935, 1936, and 1937.........................................
68
December 31, 1937..................................................................... 73-83
Examined during 1937............................................................... 126-27
For which earnings statements are tabulated. 144, 146, 152, 156, 161
Grouped by character of management.............................. 46, 136-37
Operating throughout 1937........................................................
146
Insured mutual savings banks:
72
Changes during 1937.................................................................
December 31, 1935, 1936, and 1937.........................................
69
December 31, 1936, June 30, 1937, and December 31, 1937. ..
107
December 31, 1937....................................................................53, 82
Noninsured banks:
Changes during 1937............................................................33, 70-71
December 31, 1935, 1936, and 1937......................................... 68-69
December 31, 1936, June 30, 1937, and December 31, 1937. .106-107
December 31, 1937..................................................................... 73-89
Suspending operations, insured and noninsured, 1934-37 ..................
164
Unit banks.................................................................31, 73-79, 80, 82, 92, 94
Officers and employees of the Federal Deposit Insurance Corporation......... 24-25
Operating banks. See Number of operating banks.
Payments to depositors in closed insured banks. See Receivership, insured
banks placed in.
Postal savings deposits. See Deposits.
Preferred deposits. See Deposits, secured and preferred.
Preferred stock. See Capital of banks.
Profits. See Earnings, expenses, and disposition of profits.
Protection to depositors. See Insured deposits; Deposits, secured and pre­
ferred; Capital of banks, policy of Federal Deposit
Insurance Corporation regarding.
Public funds. See Deposits.



INDEX

Purchase of bank assets by Federal Deposit Insurance Corporation. See
Loans to insolvent insured banks by Federal Deposit
Insurance Corporation.

193

Page

Receivership, insured banks placed in:
Assets and liabilities of, at date of suspension, 1934-37.................... 172-175
Date of suspension and year of organization.......................................170-71
Deposits:
Insured, paid and unpaid by December 31, 1937..........10,11,178-79
Insured, secured, preferred, subject to offset.................10,11,176-77
Secured, preferred and subject to offset, paid and unpaid by
December 31, 1937........................................................
11
Uninsured, unsecured, not preferred and not subject to
offset...................................................................10,11,176-77
Depositors:
Date of first payment t o ........................................................... 170-71
Number fully protected, paid and unpaid...........................10,178-79
Payments t o ..................................................................... 9-11,178-79
Liquidation o f.......................................................................................
12
Losses by Federal Deposit Insurance Corporation on depositors’
claims paid.................................................................... 25, 28
Names and location of, during 1937...................................................170-171
Receivers, names o f............................................................................ 170-171
Recoveries by Federal Deposit Insurance Corporation on subrogated
claims against............................................................... 12, 13
Reconstruction Finance Corporation investment in capital of banks:
Amount...................................................................................43, 53, 122, 123
Examinations by Federal Deposit Insurance Corporation in connection
with................................................................................
15
Retirements.............................................................................. 22, 45, 54, 123
Regulations and rulings:
Issued by Federal Deposit Insurance Corporation during 1937......... 23, 61
Violations by insured banks.................................................................
19
Repayments to the Federal Deposit Insurance Corporation..
.. 12-13
Reports from banks........................................................
23
Savings and time deposits. See Deposits.
Secured and preferred deposits. See Deposits.
Securities (see also Assets and liabilities of banks; Unsafe and unsound bank­
ing practices):
Effect of changing market value upon bank holdings and profits. . . .41, 49
Held by Federal Deposit Insurance Corporation................................
26
Held by insured commercial banks not members Federal Reserve
System, examiners' analysis:
Classified as loss and doubtful, substandard, and not criti­
cized.........................................................................40,128-29
Policy of Federal Deposit Insurance Corporation regarding.. . 3, 16-17
Ratios of appraised to book values....................................132-33,140
Types and quality................................................................ 40-41,140
State banks members of the Federal Reserve System. See Insured banks.
State banks not members of the Federal Reserve System. See Insured banks;
Noninsured banks.
State bank supervisory authorities, banks cited t o . ..
18
State legislation regarding deposit insurance___
24
Substandard assets. See:
Assets, examiners’ analysis;
Loans of commercial banks;
Management of banks, quality of;
Securities held by insured commercial banks not members Federal
Reserve System.



194

FEDERAL DEPOSIT INSURANCE CORPORATION

Suspensions (see also Receivership, insured banks placed in):
Page
All commercial banks........................................................................ 32, 70,164-67
Banks cited for unsafe and unsound banking practices.........................
18
Insured banks..........................................
. 9-10, 33, 70,164-67
Terminations of insurance:
For unsafe and unsound banking practices and violations of law cr
regulations.........................................................................18,20, 34
Number.
.....................
33-34
Uninsured deposits:
Assumption by insured banks...
............
23
.. 10 11 176-77
Of banks in receivership....................................
Unit banks. See Deposits; Number of operating banks.
United States Government obligations (see also Assets
and liabilities of
banks):
Held by commercial banks 1920, 1929, and 1937.
. 37
Held by Federal Deposit Insurance Corporation.
.26, 28
Unsafe and unsound banking practices:
Action of Federal Deposit Insurance Corporation.
.4, 17-19
Number of banks cited to supervisory authorities.
18
Types of, for which banks were cited..................................
19
Unsecured deposits. See Receivership, insured banks placed in.
Violations of law or regulations.
i, 17-19
Worthless assets. See Assets, examiners’ analysis of.




,,

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