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ANNUAL REPORT
OF THE

FEDERAL DEPOSIT INSURANCE CORPORATION




FOR THE YEAR ENDING
DECEMBER 31, 1939

DIRECTORS
of the

FEDERAL DEPOSIT INSURANCE CORPORATION




L

eo

T. Crowley
Chairman

P h il l ip s L e e G

oldsborough

Preston D

elano

Comptroller o f the Currency

LETTER OF TRANSMITTAL

F ederal 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 ,

Washington, D. C., May 2k, 19k0.
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 eo T . C r o w ley,

T

he

P r e s id e n t

T

he

Speaker

of the

of the




H

Se n ate
ou se of

R

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

Chairman.




CONTENTS
I ntroduction

and su m m a r y .............................................................................................

Page
3

P A R T ONE
O P E R A T IO N S A N D PO LIC IE S OF T H E C O R P O R A T IO N
Principles and policies .....................................................................................................
Deposit insurance............................................................................................................
Insurance coverage..........................................................................................................
Adequate financial resources.......................................................................................
Development of supervisory standards and procedures...................................
Adequate bank capital...................................................................................................
Quality of assets...............................................................................................................
The role of bank supervision.......................................................................................

9
9
9
10
10
12
13
14

Operating results of deposit insuran ce ................................................................
Insured banks suspended or merged.........................................................................
Payment of deposits in banks placed in receivership........................................
Loans to facilitate mergers...........................................................................................
Protection of deposits in operating and closed banks.......................................
Repayments to the Corporation................................................................................
Recoveries from banks in receivership.....................................................................
Receivership activities of the Corporation............................................................
Recoveries on loans and assets purchased..............................................................

15
15
16
18
19
19
20
21
21

Supervisory activities of the C orporation .........................................................
Admissions to insurance................................................................................................
Terminations of insurance............................................................................................
Bank examinations..........................................................................................................
Unsafe and unsound banking practices...................................................................
Capital adjustments of banks.....................................................................................
Establishment of branches and relocation of banking offices.........................
Approval of assumption or release of deposits.....................................................
Regulations and rulings.................................................................................................
Reports from banks.........................................................................................................

22
22
24
24
25
26
28
29
29
30

L egislation during 1939 affecting deposit in s u r a n c e ...................................
Federal legislation............................................................................................................
State legislation directly affecting the operations of the Corporation. . . .
State legislation relating to bank supervision.......................................................

30
30
31
32

Operating statement of the C orporation ............................................................
Organization and staff...................................................................................................
Extension of civil service to employees of the Corporation............................
Competitive examination for assistant bank examiners...................................
Income and expenses......................................................................................................
Claims held by Corporation against suspended and merged banks............
A u d it.....................................................................................................................................
Assets and liabilities.......................................................................................................

33
33
34
34
34
35
35
35

PART TW O
D E P O SIT IN SU R A N C E A N D B A N K IN G D E V E LO P M E N T S
B a n k i n g d e v e l o p m e n t s 1934-1939................................................................................ .........43
C o m m e r c ia l b a n k i n g o f f i c e s ......................................................................................... .........43

Banking offices in operation..................................................................................................43
Distribution of banks by size...............................................................................................44
A s s e t s a n d l i a b i l i t i 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 ................................................ 44

Changes during six years 1934-1939......................................................................... .........44
Changes during 1939................................................................................................................ 46




V

Vi

FEDERAL DEPOSIT INSURANCE CORPORATION

E xa m in e r s ’ appraisal of condition of insured commercial b a n k s ...........
Analysis of assets..............................................................................................................
Analysis of capital accounts.........................................................................................

Page
46
46
49

E arnings of insured commercial b a n k s ..................................................................
Current operating earnings..........................................................................................
Income on loans................................................................................................................
Current operating expenses.........................................................................................
Interest on time and savings deposits.....................................................................
Net current operating earnings..................................................................................
Net profits..........................................................................................................................

51
51
52
54
54
55
56

I nsured

57

mutual savings b a n k s .....................................................................................

P A R T TH R EE
SPECIAL REPO RTS
N o t e ...........................................................................................................................................

61

P A R T FO U R
L E G IS L A T IO N A N D R E G U L A T IO N S
D eposit insurance legislation .....................................................................................
Repeal of provision requiring certain insured banks to become members of
the Federal Reserve System ...................................................................................

65
65

C ongressional

study of national monetary and ban k in g p o l ic y ............

66

R egulations of the C or poration ...............................................................................
Part 305— Recognition of deposit ownership not on bank records..............
Part 307— Insurance of trust funds..........................................................................

67
67
68

P A R T FIVE
S T A T IS T IC S OF B A N K S AN D D E P O SIT IN SU R A N C E
E xplanatory n o tes .............................................................................................................
Sources of data..................................................................................................................
Classification of banks and banking offices............................................................
Deposits of banks and banking offices.....................................................................
Assets and liabilities of operating banks................................................................
Examiners’ analysis of insured banks......................................................................
Earnings, expenses, and disposition of profits of insured banks...................
Suspensions, receiverships, and mergers.................................................................

71
71
71
73
73
74
76
78

N umber

80

of b ank in g offices ............................................................................................

D eposits
A ssets

of ban k in g o ffices ..........................................................................................

112

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

124

C apital

investment of the

E xa m in e r s ’

R econstruction F inance C orporation ___

analysis of insured commercial b a n k s .........................................

144
150

E xa m in e r s ’ analysis of insured commercial bank s not members of
the F ederal R eserve Sy s t e m ................................................................................

176

E arnings

180

of insured commercial b a n k s ..................................................................

E arnings of insured b anks not members of the F ederal R eserve
Sy s t e m ....................................................................................................................................

190

Suspensions ,

206

A ctions

receiverships , and m erg er s ...............................................................

by the




C orporation

on applications from b a n k s ............................

228

LIST OF TABLES

v ii

CHART
Organization chart of the Federal Deposit Insurance Corporation....................

Page
5

LIST OF TABLES
P A R T ONE
O P E R A T IO N S AN D P O LIC IE S OF T H E C O R P O R A T IO N
O p e r a t in g

1.
2.
3.
4.
5.

r e s u l t s o f d e p o s it i n s u r a n c e :

Protection afforded by the Corporation in banks in financial diffi­
culties, 1934-1939............................................................................................
Disbursements of the Corporation in connection with banks in
financial difficulties, 1934-1939..................................................................
Statiis as of December 31, 1939, of deposits of insured banks placed
in receivership..................................................................................................
Percent of deposits protected in closed insured banks and insured in
operating insured banks: banks grouped by amount of deposits.
Distribution of insured banks closed because of financial difficulties
according to percent of repayments to the Corporation as of
December 31, 1939.........................................................................................

S u p e r v is o r y

6.
7.
8.

12.
13.

s ta t em en t of th e

17
17
20

21

C o r p o r a t io n :

Number of insured banks on December 31, 1939, and January 1,
1 9 34......................................................................................................................
Banks cited for engaging in unsafe or unsound practices and viola­
tions of law or regulations, 1936-1939....................................................
Unsafe and unsound banking practices and violations of law for
which 19 banks were cited by the Corporation during 1939.........

O p e r a t in g

9.
10.
11.

a c t iv it ie s of t h e

16

22
26
27

C o r p o r a t io n :

Officers and employees of the Corporation, December 31, 1 9 3 9 . . . .
Income and expenses of the Corporation since beginning operations
Income and expenses of the Federal Deposit Insurance Corporation,
calendar year 1939.........................................................................................
Auditors’ report...................................................................................................
Comparative balance sheet of the Federal Deposit Insurance Corpo­
ration, December 31, 1939, and December 31, 1938.........................

33
35
36
37
40

PART TW O
D E P O SIT IN SU R A N C E AN D B A N K IN G D EV E LO P M E N T S
C o m m e r c ia l

14.
15.
A ssets

16.

18.

43
44

a n d l i a b i l i t i 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 :

Assets and liabilities of operating insured commercial banks,
December 30, 1939, and June 30, 1934..................................................

E x a m in e r s '

17.

b a n k in g o f f ic e s :

Number of commercial banking offices in the United States and
possessions, December 31, 1939, and January 1, 1934.....................
Number of commercial banks in the United States and possessions,
1939 and 1934: grouped by amount of deposits..............................

45

a p p r a i s a l o f c o n d i t i o n o f i n s u r e d c o m m e r c ia l b a n k s :

Appraised value of assets per $100 of book value, examination in
1939: insured commercial banks............................................................
Number and deposits of banks grouped by fixed and substandard
assets ratio, examination in 1939: insured commercial banks .




47
47

v iii

FEDERAL DEPOSIT INSURANCE CORPORATION
Page

E x a m in e r s ’ a p p r a is a l

of

c o n d itio n

of

in s u r e d

c o m m e r c ia l b a n k s —

Continued:
19.

Substandard asset and net sound capital ratios, examination in
1939: insured commercial banks grouped by amount of deposits
Examiners’ analysis of assets, examinations 1933-1939: insured
commercial banks not members of the Federal Reserve System . .
Proportion of assets not criticized by examiners, examinations
1934-1939: insured commercial banks not members of the
Federal Reserve System ...............................................................................

49

22.

Number and deposits of banks grouped by n^t sound capital ratio,
examination in 1939: insured commercial banks
...................

50

23.

Percentage distribution of banks according to ratio of net sound
capital to deposits, examinations 1933-1939: insured commercial
banks not members of the Federal Reserve System.........................

51

20.
21.

E a r n in g s

24.
25.

48
49

o f i n s u r e d c o m m e r c ia l b a n k s :

Earnings, expenses, and dividends, 1934-1939: insured commercial
banks
...........................................................................................................
Interest received on loans and on securities and interest paid on
time and savings deposits, 1934-1939: insured commercial banks

52
53

26.

Rates of net earnings, net profits, and dividends, 1934-1939: in­
sured commercial banks
..........................................................................

55

27.

Percentage distribution of banks according to rate of net earnings
and of net profits on total capital accounts, 1939 and 1938: in­
sured commercial banks...............................................................................

57

P A R T FIVE
S T A T IS T IC S O F B A N K S A N D D E P O SIT IN SU R A N C E
N

u m b e r o f b a n k in g o f f ic e s :

101.

Number and classification of operating banking offices, December
31, 1935-1939.........................................................................................................

80

102.

Analysis of admissions to and terminations of insurance in each class
of bank, 1934-1939..............................................................................................

82

103.

Analysis of changes in number and classification of operating bank­
ing offices in the United States and possessions during 19 39............
Number of operating banking offices, December 31, 1939
Grouped according to insurance status and class of bank and by type
o f office in each State and p ossession .......................................................

90

105.

Number of operating banking offices, June 30, 1939
Grouped according to insurance status and class of bank and by type
o f office and amount o f deposits...................................................................

98

106.

Number of operating banks, June 30, 1939
Grouped according to insurance status and class o f bank and by type
o f bank and amount o f d eposits...................................................................

100

107.

Number of operating banks, June 30, 1939
Grouped according to insurance status and class o f bank in each
State and in the possessions.........................................................................

102

108.

Number of operating commercial banks, June 30, 1939
Grouped according to amount o f deposits and by insurance status in
each State and in the possessions................................................................

104

109.

Number of operating mutual savings banks, June 30, 1939
Grouped according to amount o f deposits and by insurance status in
each S tate............................................................................................................

108

110.

Number of commercial banks operating branches and number of
branches, June 30, 1939
Banks operating branches grouped according to character o f branch
system and branches grouped according to location o f branch and by
population o f center in which located and S tate.....................................

110

104.




88

LIST OF TABLES

ix
Page

D

e p o s it s o f b a n k i n g o f f i c e s :

111.

Deposits of operating banking offices, June 30, 1939
Offices grouped according to insurance status and class o f bank and
by type o f office and amount o f d eposits...................................................
Deposits of operating banks, June 30, 1939
Banks grouped according to insurance status and class o f bank and
by type o f bank and amount o f d eposits...................................................
Deposits of operating banks, June 30, 1939
B anks grouped according to insurance status and class o f bank in
each State and in the possessions................................................................
Deposits of operating commercial banks, June 30, 1939
Banks grouped according to amount o f deposits and by insurance
status in each State and in the possessions..............................................
Deposits of operating mutual savings banks, June 30, 1939
Banks grouped according to amount o f deposits and by insurance
status in each S tate.........................................................................................

112.

113.

114.

115.

A ssets

117.
118.
119.
120.

121.

122.

C a p it a l

124.

125.

Summary of assets and liabilities of operating banks in the United
States and possessions, 1935-1939
Banks grouped by insurance status and type o f ban k ..........................
Assets and liabilities of operating insured commercial banks, call
dates 1935-1939....................................................................................................
Classes of securities held by operating insured commercial banks,
call dates 1934-1939............................................................................................
Assets and liabilities of operating insured commercial banks not
members of the Federal Reserve System, call dates 1 9 3 5 - 1 9 3 9 . . . .
Assets and liabilities of operating insured commercial banks not
members of the Federal Reserve System, December 30, 1939
Banks grouped according to amount o f deposits.....................................
Averages per bank of assets and liabilities of operating insured
commercial banks not members of the Federal Reserve System,
December 30, 1939
Banks grouped according to amount o f d ep o sits....................................
Percentage distribution of assets and liabilities of operating insured
commercial banks not members of the Federal Reserve System,
December 30, 1939
Banks grouped according to amount o f deposits.....................................
in v e s t m e n t of t h e

127.

128.

116

118

122

124
128
132
134

138

140

142

R e c o n s t r u c t io n F in a n c e C o r p o r a t io n :

Number of insured banks with Reconstruction Finance Corporation
capital investment, December 31, 1934-1939
Banks grouped according to Federal Reserve membership and by
type o f bank and State.....................................................................................
Capital investment of the Reconstruction Finance Corporation in
banks members of the Federal Reserve System, by State, December
31, 1934-1939.........................................................................................................
Capital investment of the Reconstruction Finance Corporation in
operating insured banks not members of the Federal Reserve
System, 1934-1939, and changes during 1939
B anks grouped by type and State................................................................

E x a m in e r s '

126.

114

a n d l ia b il it ie s of o p e r a t in g b a n k s :

116.

123.

112

144

146

148

a n a l y s i s o f i n s u r e d c o m m e r c ia l b a n k s :

Examiners' analysis of capital and liabilities of insured commercial
banks examined in 1939
Banks grouped by net sound capital ratio, fixed and substandard
assets ratio, rate o f average net earnings, and amount o f d eposits. . . .
Net sound capital ratios of insured commercial banks examined in
1939
Banks grouped by net sound capital ratio, fixed and substandard
assets ratio, rate o f average net earnings, and amount o f d eposits. . . .
Examiners' analysis of capital and liabilities of insured commercial
banks examined in 1939
Banks grouped by F D I C district and State.............................................




150

152

154

X

FEDERAL DEPOSIT INSURANCE CORPORATION
Page

E x a m i n e r s ’ a n a l y s i s o f i n s u r e d c o m m e r c i a l b a n k s — Continued:

129.

Net sound capital ratios of insured commercial banks examined in
1939
Banks grouped by F D IC district and S tate.............................................

156

130.

Examiners’ classification of assets of insured commercial banks
examined in 1939
Banks grouped by net sound capital ratio, fixed and substandard
assets ratio, rate o f average net earnings, and amount o f d eposits. . . .

158

131.

Asset ratios of insured commercial banks examined in 1939
B anks grouped by net sound capital ratio, fixed and substandard
assets ratio, rate o f average net earnings, and amount o f d eposits. . . .
Examiners’ classification of assets of insured commercial banks
examined in 1939
B anks grouped by F D I C district and S ta te............................................

166

133.

Asset ratios of insured commercial banks examined in 1939
Banks grouped by F D IC district and S tate............................................

170

134.

Distribution of insured commercial banks examined in 1939 accord­
ing to net sound capital ratio
Banks grouped by fixed and substandard assets ratio, rate o f average
net earnings, and amount o f deposits.........................................................

174

135.

Distribution of deposits of insured commercial banks examined in
1939 according to net sound capital ratio
Banks grouped by fixed and substandard assets ratio, rate o f average
net earnings, and amount o f deposits.........................................................

175

132.

E x a m in e r s ’ a n a l y s is of in s u r e d
t h e F e d e r a l R e s e r v e Sy s t e m :

136.

c o m m e r c ia l

banks

not

m embers

of

Net sound capital ratios of insured commercial banks not members
of the Federal Reserve System, examinations 1933-1939
B anks grouped according to amount o f deposits.....................................
Total asset ratios of insured commercial banks not members of the
Federal Reserve System, examinations 1933-1939
B anks grouped according to amount o f deposits.....................................
Loan ratios of insured commercial banks not members of the Federal
Reserve System, examinations 1934-1939
Banks grouped according to amount o f deposits.....................................
Asset ratios of insured commercial banks not members of the
Federal Reserve System examined in 1939
Banks grouped according to amount o f deposits.....................................

137.

138.

139.

E a r n in g s

162

176

177

178

179

o f i n s u r e d c o m m e r c ia l b a n k s :

140.

Earnings, expenses, and dividends of insured commercial banks,
1935-1939

180

141.

Earnings, expenses, and dividends of insured commercial banks,
1939
B y class o f bank...............................................................................................

182

142.

Distribution of insured commercial banks according to rate of net
earnings, 1939
Banks grouped by amount o f deposits, population o f center in which
located, and number o f commercial banking offices in center in which
located...................................................................................................................

184

143.

Distribution of insured commercial banks according to rate of net
profits, 1939
B anks grouped by amount o f deposits, population o f center in which
located, and number o f commercial banking offices in center in which
located...................................................................................................................

185

144.

Distribution of insured commercial banks according to rate of net
earnings and by rate of net profits, 1 9 39...................................................

186




LIST OF TABLES

xi
Page

E arnings
145.

146.

147.

of insured commercial bank s —

Continued:

Distribution of insured commercial banks according to rate of net
earnings and by rate of income on loans and ratio of loans to total
assets, 1 9 39............................................................................................................
Distribution of insured commercial banks according to rate of in­
terest paid on time and savings deposits, 1939
B anks grouped by rate o f net earnings, rate o f incom e on loans, and
ratio o f loans to total assets...........................................................................
Distribution of insured commercial banks according to rate of in­
terest paid on time and savings deposits, 1939
B anks grouped by ratio o f time and savings deposits to total deposits,
amount o f deposits, and population of center in which located...........

E arnings of insured bank s not members of the F ederal R eserve
Sy s t e m :
148. Earnings, expenses, and disposition of profits of insured commercial
banks not members of the Federal Reserve System, 1935-1939.........
149. Earnings, expenses, and disposition of profits of insured commercial
banks not members of the Federal Reserve System, 1939
Banks grouped according to amount o f deposits.....................................
150. Averages per bank of earnings, expenses, and disposition of profits
of insured commercial banks not members of the Federal Reserve
System, 1939
Banks grouped according to amount o f deposits.....................................
151. Ratios of earnings, expenses, and disposition of profits of insured
commercial banks not members of the Federal Reserve System, 1939
Banks grouped according to amount o f deposits.....................................
152. Ratios of earnings, expenses, and disposition of profits of insured
commercial banks not members of the Federal Reserve System, 1939
Banks grouped according to population o f center in which located. . .
153. Ratios of earnings, expenses, and disposition of profits of insured
commercial banks not members of the Federal Reserve System, 1939
Banks grouped according to rate o f net ea rnings...................................
154. Ratios of earnings, expenses, and disposition of profits of insured
commercial banks not members of the Federal Reserve System, 1939
Banks grouped according to rate o f interest paid on time and savings
deposits................................................................................................................
155. Earnings, expenses, and disposition of profits of insured mutual
savings banks, 1935-1939.................................................................................
Suspensions , receiverships , and mergers :
156. Number and deposits of banks which suspended operations, 19341939
Grouped according to class o f bank and by year, amount o f deposits,
and State.............................................................................................................
157. Number and deposits of and disbursements to insured banks
merged with the financial aid of the Federal Deposit Insurance
Corporation, 1935-1939
Grouped according to class o f bank and by year, amount o f deposits,
and State.............................................................................................................
158. Number and deposits of insured banks placed in receivership or
merged with the financial aid of the Federal Deposit Insurance
Corporation, 1934-1939
Grouped according to class o f bank and by year, amount o f deposits,
and State.............................................................................................................
159. Number and deposits of banks which suspended operations, 1939
Grouped according to class o f bank and by amount o f deposits and
S tate.....................................................................................................................
160. Number and deposits of and disbursements to insured banks
merged with the financial aid of the Federal Deposit Insurance
Corporation, 1939
Grouped according to class o f bank and by amount o f deposits and
State.....................................................................................................................




187

188

189

190

192

194

196

198

200

202
204

206

208

210

212

213

FEDERAL DEPOSIT INSURANCE CORPORATION

xii

Page
S u s p e n s i o n s , r e c e i v e r s h i p s , a n d m e r g e r s — Continued:

161.

162.

163.

164.
165.
166.
167.
168.

A c t io n s

169.

170.

Number and deposits of insured banks placed in receivership or
merged with the financial aid of the Federal Deposit Insurance
Corporation, 1939
Grouped according to class of bank and by amount o f deposits and
S tate......................................................................................................................
Accounts and deposits of and disbursements to insured banks
merged with the financial aid of the Federal Deposit Insurance
Corporation, 1935-1939.....................................................................................
Assets purchased by the Federal Deposit Insurance Corporation to
facilitate completion of liquidation of insured banks in receivership,
1939
A s shown by books o f F D IC , December 31, 1 9 3 9 ..................................
List of insured banks placed in receivership, 1 9 39................................
Assets of insured banks placed in receivership, 1934-1939
As shown by books o f bank at date o f suspension ............... ..................
Liabilities of insured banks placed in receivership, 1934-1939
A s shown by books o f bank at date o f suspen sion ..................................
Deposits of insured banks placed in receivership, 1934-1939
A s shown by books o f F D I C , December 31, 1 9 3 9 ..................................
Payments to depositors of insured banks placed in receivership,
1934-1939
A s shown by books o f F D IC , December 31, 1 9 3 9 ..................................
b y the

C o r p o r a t io n

216

218
219
220
222
224

226

o n a p p l ic a t i o n s f r o m b a n k s :

Actions by the Federal Deposit Insurance Corporation upon appli­
cations from banks not members of the Federal Reserve System for
admission to insurance, approval of establishment of branches, and
approval of change of location of banking offices, August 23, 1935,
to December 31, 1939........................................................................................
Actions by the Federal Deposit Insurance Corporation on appli­
cations regarding capital and other financial adjustments, August 23,
1935, to December 31, 1939...........................................................................




214

228

230

INTRODUCTION AND SUMMARY







I n t r o d u c t io n

and

Sum m ary

The close of 1939 marked the completion of the sixth year of Federal
insurance of deposits. Conditions during the six-year period were
conducive to the improvement of the condition of the banks. The
period on the whole was one of business recovery, and, with the
existence of deposit insurance, such relapses as occurred did not
threaten the banks. The volume of national income increased. A
heavy influx of gold gave the banking system huge excess reserves
and bond prices reached record high levels. Bank deposits increased
to the highest levels ever recorded.
The influence of these forces upon the banks has been clearly
visible. The amount of assets increased by more than 50 percent.
Free from pressure to liquidate, banks were able to enjoy the benefits
of an increase in asset values produced by general business recovery.
Improved business conditions also improved the position of assets
which had previously appeared to be unduly risky.
In addition, the condition of the banking system has been strength­
ened by the rehabilitation program carried out by the Corporation,
the Reconstruction Finance Corporation, the banks, and other
interested agencies. This program was aimed at strengthening or
eliminating those banks most susceptible to any general or local
deterioration. Many banks were given support by the Reconstruc­
tion Finance Corporation through purchase of preferred capital to
afford them a longer time in which to build up private capital. Sub­
stantial amounts of earnings and profits were used to restore capital
accounts which had been impaired or weakened by accumulation of
losses. In many cases advantage was taken of favorable asset prices
to liquidate, without loss to depositors or to the Corporation, banks
which had no prospect of further successful operation. In other
cases the pooling of financial resources through merger was sufficient
to correct a weakness. There were a number of situations, however,
carried over from the 1933 crisis, which had not justified the appraisals
of the licensing authorities but had deteriorated further, with the
result that the Corporation was called upon to discharge its insurance
liability. These situations were largely localized in certain regions.
Improvement in the condition of banks is reflected in the improve­
ment in their capital and asset position. On the average the amount
of net sound capital was higher and of substandard assets lower in
relation to the appraised value of all assets at the close than at the




3

4

FEDERAL DEPOSIT INSURANCE CORPORATION

beginning of the period. By the close of 1939 the number of banks
in weak condition had been reduced to fewer than one-tenth of the
number of such banks in operation six years earlier.
The banking system, however, is not free from weaknesses and
potential hazards. Examinations of insured banks in 1939 revealed
that 10 banks had no capital at all, and that 75 additional banks had
net sound capital equal to less than 5 percent of the appraised value
of assets. Most of these banks held substantial amounts of sub­
standard assets. A number of other banks continued to show ex­
cessive amounts of substandard assets in relation to their net sound
capital. The Corporation, in concert with other bank supervisory
agencies, is seeking improvement in the condition of these banks.
By the close of the year one of the ten banks with no capital had
been closed and one merged. Programs of correction were proceeding
in the case of the remaining eight banks.
The influence of these developments upon deposit insurance is
reflected in the operations of the Corporation. During the six years
of deposit insurance, the Corporation disbursed $140.7 million to
protect approximately 870,000 depositors in 312 insured banks with
$295 million of deposits. It is estimated that the Corporation will
recover $104.6 million. The Corporation’s losses together with
nonrecoverable insurance expenses will amount to $36.7 million, or
12.4 percent of total deposits in the banks involved, while depositors'
losses will amount to about 1 percent of total deposits. During
the 70 years preceding deposit insurance, depositors' losses amounted
to approximately 25 percent of deposits in the banks which suspended.
During the six-year period the Corporation, after setting aside ade­
quate reserves for estimated losses, accumulated a surplus of $163
million giving it a combined capital and surplus of $453 million.
The Corporation also has authority to issue debentures up to $975
million giving it available resources and borrowing power of nearly
$1.5 billion.




FEDERAL DEPOSIT INSURANCE CORPORATION

B O AR D OF D IR ECTO R S
M E M B E R S O r TH E B O A R D
LEO T. CROWLEY, Chmn.; PHILLIPS LEE GOLDSBOROUGH
PRESTON DELANO, Comptroller of the Currency
The Board of Directors is responsible for the performance of all
duties and the exercise of all powers vested by law in the
Corporation.
The Board of Directors has assigned certain functions to divisions
for the performance of which the chiefs thereof are responsible
to the Board.

COMMITTEE ON
LIQUIDATIONS, LOANS, AND
PURCHASE O r ASSETS

SEC R E TA R Y

BOARD O r REVIEW
The Board oi Review considers recom­
mendations submitted by the Division of
Examination relative to applications from
banks for insurance, retirement of cap­
ital, establishment of branches, and other
similar proposals.

The Secretary is responsible for maintaining minutes of the
meetings of the Board and other official records, and furnishing
notice of matters acted on by the Board.

The Committee considers recommenda­
tions from the Division of Examination
relative to loans to or purchase of assets
from banks and recommendations from
the Division of Liquidation relative to
liquidation activities.

S P E C IA L A S S IS T A N T S T O TH E B O A R D
Special Assistants to the Board are responsible for the handling
of public relations and for the performance of various technical

LEGAL D I V IS I O N

DIV ISION o r EXAMINATION

D IV IS IO N o r L IQ U ID A T IO N

The Legal Division acts in an advisory
capacity in connection with all legal mat­
ters incident to the activities c
of the Corporation.

The Division of Examination is responsible
for handling applications from banks for
membership, capital retirement, branches,
mergers, etc., and for examining insured
banks and determining necessary super­
visory actions.

The Division of Liquidation is responsible
for paying depositors in closed insured
banks, liquidating national banks and
closed State banks for which the Corpora­
tion is appointed receiver, exercising gen­
eral supervision over the liquidation of
closed insured banks for which the Corpo­
ration is not receiver, and liquidating loans
to or purchases of assets from insured banks
to facilitate mergers.

W ASHINGTON o r r iC E
REVIEW SECTION
The Review Section is respon­
sible for reviewing all reports
of examination relative to in­
sured banks, or banks apply­
ing for insurance, and prepar­
ing recommendations relativo
thereto.

LIQUIDATION
SECTION
The Liquidation Section super­
vises the liquidation of closed
insured banks for which the
Corporation is receiver and of
loans to or purchases oi assets
from banks.

LEGAL SECTION
d iv is io n o r
LIQUIDATION
The Legal Section is
responsible for han­
dling all legal mat­
ters in connection
with the activities of
the Division of Liqui­
dation.

D IV IS IO N o r riN A N C E
A N D A D M IN IS T R A T IO N

D IV IS IO N o r R E SE A R C H
A ND S T A T IS T IC S

The Division of Finance and Administration
is responsible for the administration of all
matters relating to personnel of the Corpo­
ration, the handling of receipts and dis­
bursements, the accounting for and audit­
ing of all financial operations, and the
management of general business activities.

The Division of Research and Statistics is
responsible for the accumulation of bank
statistics, the tabulation of periodic reports
of condition and earnings from insured
banks and the conduct of various research
studies pertaining to banking.

C L A IM S SE C TIO N

PERSONNEL SECTION

The Claims Section is respon­
sible for paying the claims of
depositors of closed insured
banks approved by the receiv­
ers thereof, and for maintain­
ing records of claims paid.

The Personnel Section has
charge of appointment, place­
ment. classification, training
and related personnel activi­
ties, is responsible for the ad­
ministration of personnel laws
and regulations, and performs
general administrative plan-

riS C A L AND
ACCOUNTING
SECTION
The Fiscal and Accounting
Section is responsible for
collecting assessments from
banks and other receipts, mak­
ing disbursements and main­
taining the general account­
ing records of the Corporation.

D I S T R I C T O rriC E S

R E C O R D S SE C TIO N

AUDIT SECTION

SERVICE SECTION

The twelve District Offices,
each under the supervision of
a Supervising Examiner, are
responsible for all bank exam­
inations made by the Corpora­
tion and for carrying out su­
pervisory policies determined
in the Washington Office.

The Records Section is respon­
sible for maintaining records
of receivership activities of the
Corporation and for making
field audits thereof.

The Audit Section is respon­
sible for making a continuous
audit of the financial affairs
of the Corporation.

The Service Section is respon­
sible for the purchase of sup­
plies. performance of dupli­
cating operations, handling of
mail, and maintaining files,
guard, messenger, telephone
and other similar services.







PART ONE
OPERATIONS AND POLICIES OF THE CORPORATION







P r in c ip l e s

and

P o l ic ie s

The activities of the Corporation in administering Federal insurance
of deposits and in exercising the supervisory functions entrusted to
it by Congress are described in subsequent sections of Part One.
In this section the objectives of deposit insurance and of bank super­
vision are discussed in the light of the Corporation's experience.
Deposit insurance. The purpose of the Federal deposit insurance
system is threefold. First, it is intended to protect depositors in
banks which fail by spreading over the whole system the losses which
would otherwise be borne by depositors in particular banks. Second,
it is intended to maintain depositors' confidence, to relieve banks
from pressure to liquidate assets because of “ runs,” to protect the
whole economy against the consequences of such liquidation, and
thereby to reduce losses. Third, it is intended to strengthen the
banking system through more adequate supervision so as to reduce
bank failures. Prevention or reduction of failures depends upon
the competence and integrity of bankers themselves, the adequacy
of methods of converting assets into cash during periods of pressure,
and the effectiveness of bank supervision. To the extent to which
failures do occur, the success of deposit insurance in absorbing losses
and maintaining confidence will depend upon the insurance coverage
provided and the adequacy of the Corporation's financial resources.
Insurance coverage. The amount of insurance coverage now
provided is determined by the provision of law that the insurance
in a closed bank shall not exceed $5,000 for one depositor in a single
right or capacity. However, the Corporation may, where such
action will reduce loss or risk to itself, make a loan to or purchase
assets from a weak bank to facilitate its merger with another insured
bank. Such action provides all depositors in the bank with full pro­
tection regardless of the amount of their deposits.

The Corporation has made use of its power to finance the merger
of weak banks in those cases in which it has found the power effective
in cleaning up hazardous situations while minimizing its losses.
Both the cash outlay involved and the percentage of loss to the
Corporation have been less in merger cases than in receivership
cases. In the insured banks placed in receivership, losses of those
depositors not fully protected by insurance will amount to approxi­
mately 3.5 percent of total deposits of the closed banks. In the
banks merged with the aid of loans from or purchase of assets by
the Corporation, no depositor has suffered loss.




9

10

FEDERAL DEPOSIT INSURANCE CORPORATION

Adequate financial resources. It is essential that the Corpora­
tion should have an income sufficient to enable it to meet its losses
averaged over a long period of time. In addition, it must have,
either in its own right or available to it from other sources, cash
resources adequate to permit it to discharge its obligations during
any period when disbursements exceed income.

The experience of the Corporation to date does not constitute a
basis for estimating either its future disbursements or its future
losses. Like the past six years, the years immediately following
earlier banking crises were marked by relatively few bank failures
and relatively small losses to bank creditors, and gave no indication
of either the timing or magnitude of the losses to be experienced in
the years to follow. The losses which ultimately followed were
sufficient to have wiped out a reserve accumulated from an assessment
of one-twelfth of 1 percent per annum on total deposits of the banking
system.
The present rate of assessment assumes that improvements in the
structure and operation of the banking system and in standards of
supervision will be successful in keeping losses substantially lower
in the future than they have been in the past.
Development of supervisory standards and procedures. In
examining banks not members of the Federal Reserve System to
determine their ability to qualify for insurance under the temporary
funds, and in developing rehabilitation programs for some of these
banks, the Corporation was impressed by the diversity of supervisory
standards and procedures encountered in the various States and
within the Federal supervisory establishments. Under these cir­
cumstances, equitable treatment of the banks insured by the Cor­
poration, and maintenance of relatively uniform standards for bank­
ing operations throughout the country, were impossible. During
its first year of operation the Corporation came to the conclusion
that certain minimum supervisory powers over insured banks would
have to be granted the Corporation if coordination and improvement
of supervisory standards and policies were to be achieved and deposit
insurance was not to constitute an unconscionable financial burden
upon the banks and the Federal Treasury.1

Upon the Corporation's recommendation, Congress, in the Banking
Act of 1935, granted to it certain supervisory powers including the
following:2
1 Under the provisions of law governing the temporary deposit insurance funds the Corporation had
power to examine banks. Under the original permanent plan, embodied in the Banking Act of 1933, the
Corporation was given no specific supervisory powers over insured banks, except authority to issue such
rules and regulations as were necessary in connection with the discharge of its obligations in case of bank
failures. However, the law provided for the levying when necessary of an unlimited number of assess­
ments of one-fourth of 1 percent. This provision of law was amended before it went into effect.
2 In the same A ct the assessment was changed from practically no limit to an annual rate of onetwelfth of 1 percent.




PRINCIPLES AND POLICIES

11

To examine and approve for admission to insurance banks
which are not members of the Federal Reserve System;
To examine insured banks not members of the Federal
Reserve System and to review examination reports of banks
members of that system;
To terminate the insured status of any bank which con­
tinues to engage in unsafe or unsound practices, or in viola­
tions of law or regulations;
To approve or disapprove the assumption by any insured
bank of the deposit liabilities of a noninsured bank, or the
consolidation or merger of an insured bank with a noninsured
bank;
To approve or disapprove the reduction or retirement of
capital by insured banks not members of the Federal Reserve
System;
To approve or disapprove the establishment or relocation
of branches of insured banks not members of the Federal
Reserve System;
To issue regulations regarding the payment of interest on
deposits in insured banks not members of the Federal Reserve
System;
To issue such other regulations as are necessary to carry
out its functions;
To require such reports of condition from insured State
banks not members of the Federal Reserve System as may
be deemed necessary, and to have access to reports of
condition made by insured banks to the Comptroller of the
Currency or any Federal Reserve bank.
The Corporation assumed its supervisory functions following
one of the severest tests to which supervisory principles had ever
been subjected. It consistently endeavored, in the calmer days
which followed the crisis, to formulate policies which recognize both
the limitations and the possibilities of bank supervision. Coopera­
tion among the supervisory agencies, both State and Federal, has
been an essential part of this program.
As insurer of more than 13,000 banks, the Corporation has been
in an advantageous position to take an active part in the development
of improved standards of supervision. Participation of almost all
of the commercial banks of the country in insurance has served as
an effective means for the meeting of bank supervisors upon a com­
mon ground, and numerous conferences have been held with State
and other Federal supervisory authorities. Substantial coordination



12

FEDERAL DEPOSIT INSURANCE CORPORATION

and clarification of supervisory policy have developed out of these
conferences.
Adequate bank capital. One of the chief objectives of super­
vision is to assure the presence of an adequate amount of capital
in the banking business. However much the interests of bank credit­
ors may be protected by insurance, insolvency and suspension will
still be a disrupting factor to business. Normal credit relationships
are broken, assets come into the hands of unwilling holders, and costly
reorganizations are necessitated. But even if suspensions do not
occur, the operation of a large number of banks which are constantly
or recurrently on the brink of insolvency because of thin capital
margins cannot be satisfactory. Under such circumstances, bankers
may abdicate their functions as suppliers of credit, especially in time
of uncertainty, in order to avoid risk in an effort to preserve solvency
and retain the profit opportunities of the banking business.

In 1939, the combined net sound capital of insured commercial
banks was 10.6 percent of the appraised value of assets. Net sound
capital includes capital owned by the Reconstruction Finance Cor­
poration which is neither a permanent nor a proper substitute for
private capital. If only private capital is considered, the ratio
becomes 9.8 percent. But even this average figure does not tell
the whole story. In 1939, 10 banks had no net sound capital, and
75 more banks had net sound capital of less than 5 percent of the
appraised value of assets. Total deposits of these 85 banks amounted
to $358 million.
The present situation does not have its origin in the immediate
past. The present low level of the capital ratio is the result of sharp
declines in previous periods of rapid asset growth—notably 1896-1900
and 1915-1919—when bankers failed to expand their capital to a
degree corresponding to the expansion in their assets. The former
relationships between capital and assets were not restored in sub­
sequent periods. From 1919 to 1939 the ratio of book capital to
book assets for all reporting incorporated commercial banks varied
within the range of 11 percent to 16 percent. This experience pro­
vides us with no reason to believe that, in the absence of the adoption
of definite supervisory standards, present unsatisfactory capital
positions will be corrected or will not deteriorate even further.
The Corporation believes that every bank should have a minimum
net sound capital equal to at least 10 percent of the appraised value
of its assets. Examinations in 1939 revealed that 2,884 insured banks
had net sound capital below this minimum. About $600 million of
additional capital is needed to bring these banks up to the minimum.
Total deposits in these banks amounted to $30 billion.



PRINCIPLES AND POLICIES

13

The capital structure of a bank may be regarded as inadequate,
however, even though it meets this minimum standard, if other
adverse circumstances exist. In considering the adequacy of the
capital accounts of any particular bank the following important
factors are taken into consideration:
(a) The quality of the assets, with particular reference to the volume
of fixed assets and assets of substandard quality;
(b) The management;
(c) Possible liabilities arising out of fiduciary operations;
(d) Local economic conditions.
It is estimated that in addition to the 2,884 banks mentioned above,
approximately 3,000 banks have a capital below the reasonable
minimum when considered in the light of the nature and quality of
the assets held and other qualifying factors.
Regardless of the adequacy of the total capital accounts, the Cor­
poration believes that such accounts should consist in large measure
of a basic amount of capital stock which, taken in conjunction with
legal requirements for the accumulation of surplus, gives reasonable
assurance of the maintenance of adequate net sound capital.
Applicants for admission to insurance, particularly newly organized
banks, are expected to provide adequate capital in relation to present
or prospective asset volume and, in any case, not less than $25,000
capital stock and $5,000 surplus. As of the close of 1939, approx­
imately 1,500 small insured banks were deficient with respect to the
latter standard.
Ultimate conformance with these capital standards by all insured
banks is a long-range objective of the Corporation.
Quality of assets. The Corporation does not believe it desirable,
in establishing supervisory rules and principles, to differentiate
among types of assets. Differentiation by supervisory authorities
among types of assets is undesirable from the standpoint of flexibility
of operation of the banking system. To give preference to a parti­
cular type of asset by means of supervisory rules would encourage
banks to go into that type as against some other type of asset. In
the eyes of the Corporation a good loan is as good as cash.

It is not the intention of the Corporation to invade the field of
bank management and substitute its judgment for that of bankers
in the conduct of their business. The best adaptation of the banking
system to the credit demands of the country can be achieved only
if bankers are allowed to choose freely among industries, maturities,
security, and other characteristics in investing their funds. Even



14

FEDERAL DEPOSIT INSURANCE CORPORATION

with respect to the amount of risk which they assume, banks must
be allowed wide latitude if they are to continue to finance a dynamic
business system. So long as the capital ratios of banks remain at
low levels, however, the supervisory authorities must attempt to
place certain limits to the risks assumed by banks, and insist that
banks which do accumulate low-grade assets value them in accordance
with sound appraisals and charge losses off promptly.
The role of bank supervision. In the supervisory relationship
between the Government and the banks, banks have not only duties,
but also rights; supervising authorities have not only powers, but
also responsibilities. This does not mean that supervision should
be confined to requiring banks to do only what they wish to do.
That banks shall be restrained from operating in a manner contrary
to the public interest is the essence of supervision. However, banks
have a right to advance knowledge of the standards to which they
must adhere and to assurance that these standards are applicable to all
banks impartially. Supervising authorities have a responsibility to
formulate standards as precise and objective as possible, and to
apply such standards impartially. Recognition of these rights and
responsibilities facilitates the achievement of supervisory objectives
and the effective operation of the banks. Only by the application
of general standards can the treatment of each bank be adjusted to
the condition and needs of the whole banking system. Only so far
as standards are objectively stated is it possible to have effective
cooperation among the State and Federal agencies engaged in bank
supervision.

The formulation of rules, regulations, and standards, and the
clarification of the limits of supervisory authority, are far more
important to development of effective bank supervision than concern
with the structure of the bank supervisory establishment. The
Corporation's supervisory standards and objectives have been made
more effective than would otherwise be the case because they were
developed jointly with and by the State supervisory authorities.
These joint standards have formed the basis for action by many of
the State authorities whose powers in some circumstances are more
flexible and effective than those of the Corporation.
While supervision of banks is properly an important Government
function, no greater mistake could be made than to base public
policy on an exaggerated conception of the power of supervision.
While supervision should not intensify economic instability, it cannot
prevent it. Supervision cannot provide banks with liquidity; it
cannot prevent banks from seeking liquidity; it cannot insulate the
business system from the effects of the effort to secure liquidity.
Supervision cannot cause banks to make loans and buy securities.



OPERATING RESULTS OF DEPOSIT INSURANCE

15

Supervision cannot prevent “ error” in the investment process. The
efficacy of our supervisory policies must be appraised in the light
of the ends to which supervision can properly be directed—the un­
interrupted operation of banks, able and willing to bear the risks
inherent in the provision of credit, and managed by responsible
persons whose appraisal of these risks is impartial and deliberate.
O p e r a t in g R

esults

of

D

e p o s it

Insurance

Insured banks suspended or merged. From the beginning of
insurance of bank deposits on January 1, 1934, to December 31, 1939,
the Federal Deposit Insurance Corporation extended financial aid
to protect approximately 870,000 depositors in 312 banks.1 Total
deposits in these banks amounted to $294.7 million, of which 97
percent were made available promptly without loss to depositors.
Less than one-fourth of 1 percent of the depositors held accounts in
excess of $5,000 which were not fully protected by insurance, offset,
preferment, pledge of security, or terms of the merger agreements.
By December 31, 1939, the Corporation had made disbursements
of $140.7 million as a consequence of the financial difficulties of these
banks. Losses and nonrecoverable insurance expenses of the Cor­
poration are estimated at $36.7 million, or 12.4 percent of the total
deposits.2 Losses to depositors are estimated at $2.7 million, or less
than 1 percent of total deposits in the 312 banks. The figures are
summarized in Table 1.

During the year 1939, the Corporation disbursed funds to protect
depositors in 60 insured banks which were experiencing financial
difficulties. The Corporation paid the insured claims in 32 banks
placed in receivership and extended loans to 28 banks in order to
facilitate their merger with other banks.3 Total disbursements for
these purposes amounted to $66.6 million, exclusive of expenses,
almost equalling the aggregate disbursement of the preceding five
years. Deposits in the 60 banks amounted to $157.8 million,
or slightly more than the deposits in the 252 banks to which or for
which disbursements were made during the preceding five years.
The name and location of the insured banks placed in receivership
or merged with the financial aid of the Corporation in 1939, together
with data respecting their assets and liabilities and the Corporation’s
disbursements, are presented in Tables 162 to 168, pages 216 to 227.
1 Three other insured banks suspended operations but were reorganized and reopened or taken
over by other insured banks without the financial aid of the Corporation.
2 Losses are estimated at $36.1 million and nonrecoverable insurance expenses— expenses incurred
in paying insured deposits— amounted to $0.6 million.
* The terms “ merge” and “ merger” are used throughout to include cases of purchase of assets and
assumption of liabilities as well as absorptions and mergers.




16

FEDERAL DEPOSIT INSURANCE CORPORATION

The relatively high protection given depositors has reflected in
part the high protection in banks placed in receivership (90 percent
of total deposits) and in large part use of the Corporation's power
to extend loans or purchase assets to facilitate mergers when such
action will avert or reduce risk of loss to the Corporation. The use
of the latter power provides 100 percent protection to depositors of
the banks involved. A comparison of the use of the two methods in
dealing with insolvent or hazardous insured banks during the past
six years is presented in Table 2.
T a b le 1.

PROTECTION AFFORDED BY THE CORPORATION IN BANKS
in F in a n c ia l D i f f i c u l t i e s ,

1934-1939
Total
1934-1939

Number of banks................................................................................................

312

1939

60

Depositors:
Total n u m b e r ...............................................................................................
Fully protected1..........................................................................................
Partially protected1....................................................................................
With excess accounts.................................................................................
With both restricted and unrestricted accounts........................................
Unprotected ...............................................................................................
With restricted or otherwise uninsured accounts.....................................
With unclaimed accounts— claims barred2.............................................

877,223
861,272
2,719
1,569
1,150
13,232
2,278
10,95 U

393,160
392,302
832
832

Deposits:
Total ..............................................................................................................
Protected1.....................................................................................................
U nprotected.................................................................................................
Excess ......................................................................................................
Restricted or otherwise uninsured............................................................
Unclaimed2 ................................................................................................

$294,654,000
286.250.000
8.404.000
7.322.000
1.031.000
51,000

$157,772,000
154,452,000
3.320.000
3.320.000

66.568.000

26
26

Total disbursements by F D IC 3.......................................................................

140.706.000

Estimated loss to depositors............................................................................

2.750.000

1,675,000

Estimated loss to F D IC 4...................................................................................

36,723,000

17.359.000

1 Protected by insurance, security, offsetting claims, priority over other depositors, or through
advances by the Corporation to facilitate mergers.
2 For banks closed in 1934-1939, deposits in 27 banks completely liquidated and in 89 banks in
which the 18-month period of insurance protection had ended; for those closed in 1939, deposits amounting
to $167 in 1 bank completely liquidated.
3 Deposits paid by F D IC in receivership banks and principal of loans and purchase price of assets
in merged banks.
4 Includes nonrecoverable insurance expenses incurred in paying insured claims, amounting to
$570,000 for 1934-1939 and to $184,000 for 1939.

Payment of deposits in banks placed in receivership. From
the beginning of deposit insurance through 1939, the Corporation
made payments to depositors in 207 banks placed in receivership
with total deposits of $80.1 million. Only one-half of 1 percent of
the 300,000 depositors in these banks had accounts in excess of $5,000
which were not fully protected. Their excess deposits constituted
9 percent of total deposits while other deposits not eligible for insur­
ance amounted to 1 percent of total deposits. The remaining 90
percent of the deposits were made available promptly to depositors.
Figures regarding the payment of deposits in insured banks in receiv­
ership are given in Table 3.



17

OPERATING RESULTS OF DEPOSIT INSURANCE
T able 2.

DISBU RSEM EN TS OF THE CORPORATION IN CON N ECTION W ITH B A N K S IN
F i n a n c i a l D i f f i c u l t i e s , 1934-1939
Amount of disbursement
(in thousands of dollars)

Number of banks

Placed in
receivership

Loans and
assets
purchased

Insured
deposits
paid1

Merged

T o ta l........................................

207

105

60,981

79,725

1939......................................

32

28

24,994

41,574
21,386

1938......................................

50

24

9,034

1937......................................

50

25

12,019

7,116

1936......................................

42

27

8,043

6,784

1935......................................

24

1

5,956

2,865

1934 ....................................

9

935

1 In addition, $2,794,000 of insured claims had not been presented or proved.
Detailed figures for 1939— See Table 162, page 216, and Table 168, page 226.

During the year 1939, 32 insured banks with deposits of $32.6
million were placed in receivership. As in the case of the banks
closed during the entire six-year period approximately 90 percent
of the deposits in the banks placed in receivership in 1939 were fully
protected by insurance, offsetting claims, security, or priority of
claims over other creditors. More than 99 percent of the depositors
were fully protected.
Table 3.

Statu s as
I nsured B

of

D

anks

ecem ber

P laced

31, 1939,
in

R

of

D

e p o s it s

of

e c e iv e r s h ip

(In thousands of dollars)

Total

Paid by
Dec. 31,
19391

Unpaid on
D ec. 31,
1939

T o ta l— 32 ban k s p la ced in receiversh ip , 1 9 3 9 ....

32,630

26,701

5,929

Insured2..............................................................................
Secured, preferred, and subject to offset3.................
N ot eligible for insurance4.............................................
Unclaimed5........................................................................

27,550
1,760
3,320

24,994
1,679
28

2,556
81
3,292

T o t a l— 175 b an k s p la ced in receiv ersh ip , 1934-1938

47,478

44,983

2,495

Insured2..............................................................................
Secured, preferred, and subject to offset3.................
N ot eligible for insurance6.............................................
Unclaimed5........................................................................

36,225
6,169
5,033
51

35,987
6,050
2,946

238
119
2,087
51

1 Payments made both by FD IC and by receivers.
2 Deposits paid or to be paid by F D IC .
3 Deposits subject to offset, preferred deposits paid by the receiver, and those portions of secured
deposits met or to be met by sale of security.
4 Deposits in excess of maximum insurance coverage.
5 For banks closed in 1939, deposits amounting to $167 in 1 bank completely liquidated; for those
closed in 1934-1938, deposits in 26 banks completely liquidated, and in 89 banks in which the 18-month
period of insurance protection had ended.
6 Deposits in excess of maximum insurance coverage amounting to $4,002,000; restricted or de­
ferred deposits and deposits in 1 noninsured bank made subsequent to termination of insured status
amounting to $1,031,000.
Detailed figures— See Tables 167-68, pages 224-27.




18

FEDERAL DEPOSIT INSURANCE CORPORATION

The Corporation starts payments to depositors as soon after the
closing of an insured bank as legal arrangements can be made for the
subrogation of depositors' claims to the Corporation and as soon as
the records for payments can be completed. In most cases the Cor­
poration's representatives are sent in immediately following appoint­
ment of the receiver to verify the records and make arrangements to
pay off insured depositors. As soon as these arrangements have
been completed the Corporation notifies depositors by mail, posters,
and advertisements of its readiness to pay all insured deposits. There­
after payments are made as rapidly as depositors present and prove
their claims. The procedure for presenting and proving claims has
been so simplified that it now imposes no greater burden upon de­
positors than is ordinarily involved in the closing of a deposit account
from an operating bank.
Insured deposits have been made available immediately after legal
requirements are satisfied. In certain cases this has resulted in
making the insured deposits available within from 4 to 10 days after
the actual closing of the bank. Ordinarily, delay beyond 10 days
has been due to obstructive legal requirements peculiar to the State
where the bank is located.1 By the close of 1939, the Corporation
had paid in full claims of insured depositors covering 91 percent of
the amount of insured deposits in the 32 banks placed in receivership
during that year. In contrast, the receivers of these banks had
paid only 2 percent of the estimated recoverable amount of claims
not eligible for insurance.
The Banking Act of 1935 provides that if any depositor who has
been given at least three months' notice shall fail to claim his insured
deposit within 18 months after the appointment of the receiver for
the closed bank, the rights of such depositor against the Corporation
shall be barred. Completion of liquidation, which may take less
than 18 months, also bars insured depositors' claims against the
Corporation by preventing subrogation as required by law. Al­
though the Corporation has made every attempt to trace all depositors
whose names appear on the books of closed insured banks, at the end
of the year 10,954 depositors, with accounts aggregating $51,000,
were barred by law from further insurance protection on these claims.
Most of the unclaimed accounts were small, many of them amounting
to less than $1.00. Depositors in insured banks placed in receivership
prior to the Banking Act of 1935 can continue to claim protection
from the Corporation until completion of liquidation.
Loans to facilitate mergers. Between August 23, 1935, and
the close of 1939,105 insolvent or hazardous banks with about 575,000
1 Dates of suspension and of commencing payment of insured claims in banks placed in receivership
during 1939 are given in Table 164, page 219.




OPERATING RESULTS OF DEPOSIT INSURANCE

19

depositors and total deposits of $214.5 million were absorbed by other
insured banks with the financial aid of the Corporation. The total
amount disbursed by the Corporation to the 105 banks was $79.7
million.
During 1939, disbursements on loans and purchases of assets
amounting to $41.6 million were made to 28 insolvent or hazardous
banks with deposits of approximately $125.1 million to facilitate
their merger or consolidation. Of the loans disbursed during the
year, 9 were approved in 1938 and the remaining 19 in 1939. Loans
to four other banks were also approved, but had not been disbursed
by the close of the year. Total loans approved in 1939, including
those disbursed as well as those not disbursed, amounted to $39.5
million.
In making loans the Corporation takes as collateral all of the assets
which are not taken by the absorbing bank.1 The amount of the
loan is always the amount necessary to make up the deficiency be­
tween the assets taken over and the liabilities assumed by the absorb­
ing bank. Under the terms of the note and the contract with the
borrowing bank, the Corporation is given absolute control of the
liquidation and disposition of the collateral. If the collections are
sufficient to reimburse the Corporation for the principal of the loan
plus expenses and interest, the remaining cash and unliquidated
assets are turned over to the stockholders of the bank which required
aid from the Corporation.
Protection of deposits in operating and closed banks.

Ap­

proximately 97 percent of the deposits in closed insured banks were
protected by insurance, offsetting claims, pledge of assets, priority
over other depositors, or through advances by the Corporation to
facilitate mergers. The percent of deposits protected in closed banks
has been greater than the percent of deposits which the Corporation's
records indicate is insured in operating insured banks of comparable
size. A comparison is given in Table 4. The higher protection of
deposits in closed banks reflects in large part the use of the Corpora­
tion's loan power to eliminate insolvent or hazardous banks in which
100 percent protection is given, and in part protection given by
legal preferment, pledge of security, and offsetting claims, to deposits
in banks placed in receivership. In banks placed in receivership 90
percent of deposits were protected, 80 percent by insurance and 10
percent by the allowance of offsetting claims, by pledge of specific
assets, or through priority of claims over other depositors.
Repayments to the Corporation. The Corporation follows a
policy of setting up, as soon as a disbursement is made, a reserve to
1 In a limited number of cases assets were purchased, rather than taken as collateral to a loan, in
order to expedite subsequent transfer of title.




20

FEDERAL DEPOSIT INSURANCE CORPORATION

cover the loss which the Corporation's appraisals indicate will result
from each case. This reserve is deducted from the surplus and ap­
propriate asset accounts in presenting the statement of condition of
the Corporation. Periodically, the progress of the liquidation of
banks in receivership is reviewed, the assets purchased and held as
collateral to secure loans made to banks to facilitate mergers are
reappraised, and reserves are revised in accordance with the informa­
tion obtained. By the end of 1939, $42.9 million had been repaid
to the Corporation. This is less than one-half of the amount which
it expects to recover on the $140.7 million of disbursements made
during the past six years in protecting depositors and assets.
T a b le 4 .

PERCENT OF DE POSITS PROTECTED IN CLOSED IN SU RED B A N K S
and

I nsured

in

O p e r a t in g I n s u r e d B a n k s

BANKS GROUPED BY AMOUNT OF DEPOSITS

Deposits
protected
in all closed
banks1

Deposits
protected
in banks
placed in
receivership2

Deposits
insured in
operating
banks3

97.1%

89.5%

45.9%

Banks with deposits of—
$100,000 or less................................................................
$100,000 to $250,000......................................................
$250,000 to $500,000......................................................

97.0
96.3
96.1

96.1
95.1
94.1

95.2
91.5
87.8

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

92.5
97.7
96.5

85.8
93.3
84.6

84.0
79.9
74.2

$5,000,000 to $10,000,000.............................................
$10,000,000 to $50,000,000...........................................
More than $50,000,000
............................................

100.0
97.5

86.4

66.8
51.1
28.2

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

1 Deposits protected in banks placed in receivership and all deposits in banks merged with financial
aid of the Corporation, 1934-1939.
2 Protected by insurance, security, offsetting claims, priority over claims of other depositors, 19341939.
3 Estimated to be covered by insurance on September 21, 1938.

Recoveries from banks in receivership. By the close of 1939,
the Corporation had received approximately $21.4 million, or 35 per­
cent of the $61.0 million of depositors’ claims to which it had been
subrogated in the 207 insured banks in receivership. The Corporation
expects to receive about 33 percent additional returns on these claims.

Of the 207 insured banks placed in receivership from 1934 to 1939,
27 had been completely liquidated by the end of that period, 9 during
1939. Of the 27 banks, 15 had made full repayment to the Corpora­
tion on its subrogated claims, 5 with interest. Dividends of from
75 to 99 percent had been paid by 5 banks, while the remaining 7 banks
paid dividends of less than 75 percent, the lowest being 7 percent.
Of the 180 banks whose liquidation had not been completed by the
close of 1939, 9 had made 100 percent repayment, 1 with interest.



21

OPERATING RESULTS OF DEPOSIT INSURANCE

No payments had been received from 28 banks, 21 of which closed in
1939. The distribution of insured banks placed in receivership
according to the percent of repayment made to the Corporation on its
subrogated claims is shown in Table 5.
D ISTRIB U TIO N OF INSURED B A N K S CLOSED B ECAU SE OF
A

c c o r d in g

C o r p o r a t io n

as

Percent

to

of

D

of

ecem ber

31, 1939

Number of banks placed
in receivership

Liquidation
closed

Liquidation
not closed

R

epaym ents

the

Number of banks
merged
Liquidation
of loan
completed

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

27

180

12

Banks making repayments of—
100 percent...................................................
75 to 99 percent..........................................
50 to 74 percent..........................................

15
5
4

9
42
55

11
1

1
2

25
21
28

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

to

Liquidation
of loan
not completed
93

© 00

if f ic u l t ie s

tOH*

T able 5.
F in a n c ia l D

26
28
1

N O TE : In banks placed in receivership, repayments are percentages of subrogated claims paid to
the Corporation as dividends; in banks merged, repayments are percentages of principal of loan and pur­
chase price of assets collected, after deducting expenses incident to the transaction.

During 1939, for the first time the Corporation exercised its power
to purchase assets from the receivers of closed insured banks in order
to facilitate the termination of these receiverships. Assets amounting
to $112,000 were purchased from the liquidators of five banks. De­
tailed figures are shown in Table 163, page 218.
Receivership activities of the Corporation. At the close of
1939, the Corporation was acting as receiver for 61 of the 180 insured
banks in receivership. It was receiver for 12 national banks, as pre­
scribed by law, with deposits aggregating $10.7 million and for 49
State banks with deposits aggregating $11.3 million. The Corpora­
tion, as principal creditor through its subrogation to insured depositors'
claims, attempts to maintain close contact with the receivers of the
remaining 119 State banks and to assist as much as possible in pro­
moting efficient liquidation of these banks.
Recoveries on loans and assets purchased. By December 31,
1939, the Corporation had recovered $21.5 million, or 27 percent of the
$79.7 million which it had advanced as loans to, or in the purchase of
assets from, insured banks to facilitate their merger with other insured
banks. The Corporation expects to receive about 54 percent ad­
ditional returns on these claims.

The assets which were acquired by purchase or accepted as colla­
teral for loans were unacceptable to the absorbing bank because of



22

FEDERAL DEPOSIT INSURANCE CORPORATION

their poor quality. Of the 105 transactions of this type, 12 were
closed by December 31, 1939. In 11 of these cases all expenses in­
curred by the Corporation were repaid and collections were sufficient
to cover the principal of the loan and to pay interest. In the remain­
ing case, collections after deduction of expenses amounted to 96 percent
of the principal of the loan.
Some collections were received in each of the remaining 93 cases,
although in the case of one loan made near the close of the year collec­
tions were not yet sufficient to cover expenses. The distribution of
banks according to the percent of repayment to the Corporation is
shown in Table 5.
S u p e r v is o r y A

c t iv it ie s

of

the

C o r p o r a t io n

Admissions to insurance. On January 1, 1934, when Federal
insurance of deposits became effective, 13,201 banks were insured
or approved for insurance under the temporary insurance plan. On
December 31, 1939, the number of insured banks was 13,589, a net
increase over the six years of 388 banks. On the later date 93 percent
of commercial banks and 9 percent of mutual savings banks were
insured with the Corporation. Figures are shown in Table 6.
Table 6 .
D

ecem ber

N

um ber

OF INSURED B A N K S ,

31, 1939, A n d J a n u a r y 1, 1934
Number of insured banks
Dec. 31,
1939

Jan. 1,
1934

Change

Percent of licensed
banks insured
Dec. 31,
1939

Jan. 1,
1934

T o ta l...................................................................

13,589

13,201

+ 388

90%

87%

Commercial banks........................................

13,538

12,987

+ 551

93

89

Members F. R . System:
N ational.....................................................
State ............................................................
N ot members F. R . System .......................

5,187
1,175
7,176

5,153
856
6,978

+ 34
+ 319
+ 198

100
100
88

100
100
82

M utual savings banks.................................

51

214

-163

9

37

The increase in the number of insured banks over the six-year
period reflects chiefly the admission to insurance of banks which were
operating under restrictions or in conservatorship when deposit in­
surance went into effect on January 1, 1934, but were subsequently
licensed. A total of 1,927 banks were admitted to insurance during
the six years, and the insured status of 1,539 banks was terminated.1
1 Successions to other insured banks and other cases of terminations directly offset by admissions
are excluded from these figures. For a classification of the banks admitted to insurance and terminating
insurance, and the manner of terminating insurance, during each year of deposit insurance, see Table 102,
pages 82 to 87.




SUPERVISORY ACTIVITIES OF THE CORPORATION

23

Approximately three-fourths of the banks admitted to insurance
during the six years were banks not members of the Federal Reserve
System whose admission was subject to approval by the Corporation.
The other banks were national banks or banks admitted to the Federal
Reserve System which upon certification of the Comptroller of the
Currency or the Board of Governors of the Federal Reserve System
became insured without action of the Corporation. However, the
Comptroller of the Currency has been referring applications for new
national charters to the Board of Directors of the Corporation for
their opinion as to the ability of the applicant bank to meet the
standards established by law and by the Corporation for the admis­
sion to insurance of banks not members of the Federal Reserve System.
More than four-fifths of all the admissions during the six-year
period were made under the temporary plan, that is, from January 1,
1934, to August 22, 1935. The preponderance of admissions under
the temporary plan reflected primarily the reorganizing and licensing
of a large number of banks in conservatorship or operating under
restrictions on January 1, 1934.
Under the temporary plan, banks which were certified by the State
supervisory agencies and found by the examiners of the Corporation
to have assets equal in value to not less than their deposits and other
liabilities were eligible for insurance, even though the banks' capital
funds had been largely or wholly exhausted by losses. Under the
permanent insurance plan, however, the Corporation is required by
law to take the factors listed below into consideration when passing
upon the application of a bank for insurance:
The financial history and condition of the bank;
The adequacy of its capital structure;1
The bank's future earnings prospects;
The general character of its management;
The convenience and needs of the community to be served
by the bank; and
The consistency of the bank's corporate powers with the
purposes of deposit insurance.
These requirements have served to prevent an influx of under­
capitalized or hazardous banks into insurance, and to discourage
such banks from coming into existence. Approximately one-half
of the 996 noninsured commercial banks in operation on December
31, 1939, were known from published statements to have capital
accounts below the minimum standards of the Corporation.1 The
extent to which the remaining banks could qualify for insurance under
1 The Corporation’s standards with respect to adequate capital Are discussed on pages 12 and 13.




24

FEDERAL DEPOSIT INSURANCE CORPORATION

the Corporation's standards can be determined only by examination
of each bank and a review in each case of the factors to be taken into
consideration.
The bank supervisory authorities of the various States and the
Federal Deposit Insurance Corporation have worked in close coopera­
tion to prevent the chartering of uneconomic and unsound banking
units. On December 31, 1939, 218 banks were operating which had
been organized and opened for business since August 23, 1935, the
date of enactment of law imposing standards other than solvency
for the admission of banks to insurance. Of these, only 57 were not
insured, 21 of which were private banks in States where approval
for the operation of such institutions was not required, and 10 others
were cash depositories with strictly limited loan and investment
powers.
During the year 1939, the Corporation acted on 85 applications
for admission to insurance, of which 75 were approved and 10 dis­
approved. More than one-third of the applications acted on were
from newly organized banks, slightly less than one-third from institu­
tions operating at the beginning of the year, and about one-third
from successors to other insured banks or banks wishing to maintain
their insured status upon withdrawal from the Federal Reserve
System. Further details regarding applications acted on in 1939,
and in previous years, will be found in Table 169, page 228.
Terminations of insurance. Excluding cases involving suc­
cessions or reorganizations, the insured status of 1,539 banks was
terminated between January 1, 1934, and December 31, 1939. Most
of these terminations were cases in which the banks discontinued
operations. Details will be found in Table 102, pages 82 to 87.
Bank examinations. The Corporation was required to examine
the banks not members of the Federal Reserve System which applied
for insurance in the temporary deposit insurance funds. Under the
temporary insurance system the Corporation examined all insured
banks not members of the Federal Reserve System at least once
a year. This practice has been continued under the permanent
insurance system.

From the beginning of its operation in September 1933 to the close
of 1939, the Corporation conducted approximately 55,000 examina­
tions. Most of these were regular examinations of banks not members
of the Federal Reserve System which were not examined by other
Federal bank supervisory authorities. Approximately 130 were
examinations of national banks or of State banks members of the
Federal Reserve System. These 130 examinations arose in con­
nection with actions against banks believed to be engaged in unsafe



SUPERVISORY ACTIVITIES OF THE CORPORATION

25

or unsound practices and violations of law or regulations, in con­
nection with insolvent or hazardous banks applying for loans to
facilitate mergers, or in connection with applications for insurance
from banks wishing to withdraw from the national or Federal Reserve
systems but wishing to continue insurance.
During 1939, the Corporation conducted 7,525 examinations of
banks and reviewed 7,122 reports of examinations made by the
Office of the Comptroller of the Currency and by the Federal Reserve
banks. The examinations made by the Corporation were as follows:
7,193 regular examinations of insured State banks not
members of the Federal Reserve System;
184 additional examinations of banks not members of the
Federal Reserve System requiring special attention, or
believed to be engaged in unsafe or unsound practices, or
believed to be insolvent and in need of loans from the
Corporation to facilitate mergers with other banks;
140 examinations and investigations of banks applying for
admission to insurance as banks not members of the Federal
Reserve System (including 14 banks wishing to withdraw
from the national or Federal Reserve systems but to con­
tinue to be insured), or for permission to establish or change
location of branches;
8 examinations of national banks and State banks mem­
bers of the Federal Reserve System believed to be engaged
in unsafe or unsound practices or believed to be insolvent
and in need of loans from the Corporation to facilitate
mergers with other banks.
Unsafe and unsound banking practices. From August 23,
1935, to December 31, 1939, the Corporation initiated proceedings
against 79 insured banks for engaging in continued unsafe or unsound
practices and violations of law or regulations. Nineteen of these
cases were initiated during the year 1939. Of the 79 banks, 18 were
national banks, 6 were State banks members of the Federal Reserve
System, and 55 were banks not members of the Federal Reserve
System.

The insured status of three of the banks was terminated by the
Corporation.1 Corrections were obtained and proceedings discon­
tinued in the case of 13 banks, while 51 banks ceased operations,
either through suspension or through merger or succession by other
banks. The remaining 12 cases were not disposed of at the end
of 1939. With one exception, all of the banks which were merged
1 One of these banks suspended four months after its insured status was terminated.




26

FEDERAL DEPOSIT INSURANCE CORPORATION

or succeeded received financial aid from the Corporation. In the
case of five of the banks which suspended, the date for termination
of insured status had been set by the Corporation, but the termination
was not effective before the banks suspended. Details regarding
the banks cited are given in Table 7.
T a b le 7.

B a n k s C ite d FOR ENGAGING IN UNSAFE OR UNSOUND

P r a c t ic e s a n d V io l a t io n s of L a w or R e g u l a t io n s , 1936-1939
Number of banks cited
Total
1936-1939

1939

T otal banks cited1 .....................................................................................................

79

19

Cases closed during period................................................................................
Corrections made
...........................................................................................
Insurance of bank terminated for failure to make corrections2 .................
Banks suspended3 .................................................................................................
Banks absorbed or succeeded by other banks4..............................................

67
13
3
30
21

12

Cases pending December 31, 1939...................................................................
Hearing held and charges sustained: action deferred..................................
Action deferred pending consummation of recapitalization or merger plans
Banks reexamined: action deferred...................................................................
Correction period not expired............................................................................

12
3
4
2
3

3
9
7
2
2
3

1 2 banks originally cited in 1936 against which action was deferred but resumed in 1937 are tabulated
only once.
2 1 of these 3 banks suspended four months after its insured status was terminated.
3 The date for official termination of insured status was set in 5 of these cases, but the termination
was not effective before the banks suspended.
4 In all except 1 of these cases, the Corporation made loans to facilitate the mergers or reorgani­
zations.

The banks cited by the Corporation for unsafe or unsound practices
and violations of law or regulations, engaged not merely in one, but
in many such practices and violations, and continued such practices
or violations after repeated criticisms in successive examinations.
All of the banks had repeatedly violated provisions of law or regula­
tions. Nearly all of them had operated for some time with seriously
impaired and inadequate capital. A large proportion of them had
pursued lax loan and collection policies, and held an excessive and
unwarranted volume of substandard assets. Most of them were
operated by weak, hazardous, or incapable managements.
A detailed list of the unsafe and unsound practices and violations
of law in the case of the 19 banks cited during 1939 is given in Table 8.
Similar tables regarding practices of those cited in 1936, 1937, and
1938 will be found in the Annual Reports of the Corporation for
those years.
Capital adjustments of banks. From August 23, 1935—the
effective date of the law requiring Corporation approval of retirement
of capital of insured State banks not members of the Federal Reserve
System—to the close of 1939 the Corporation took action on ap­
proximately 6,000 formal applications from 2,848 insured banks not
members of the Federal Reserve System to retire or reduce capital.



27

SUPERVISORY ACTIVITIES OF THE CORPORATION

The great bulk of these applications were in connection with the
retirement of preferred capital obligations held by the Reconstruction
Finance Corporation. The aggregate amounts of capital obligations
held by the Reconstruction Finance Corporation which were ap­
proved for retirement during these years amounted to $55 million.
The aggregate amount disapproved was approximately $16 million.1
T able 8.
of

L

U

nsafe

a w f o r w h ic h

AND UNSOUND B AN K IN G PRACTICES AND VIOLATION S

19 B a n k s

w ere

C it e d

b y the

Type of practice or violation

C a p it a l:
Continued operation of bank with seriously impaired capital

C o r p o r a t io n D

Number
of banks ,
cited

19

u r in g

1939

Case identification
letters

a, b, c, d, e, f, g, h, i, j , k, 1,
m, n, o, p, q, r, s.
g, m, p, q, r.

Continued operation of bank with inadequate capital...........

5

M a n a g e m e n t a n d gen era l p o lic ie s :
Operation of bank b y weak, hazardous, or incapable
management...................................................................................

14

a, b, c, d, e, f, g, h, j, k, 1,
m, n, o.

11

a, b , c, d, e, f, g, h, j, k, 1.

Maintenance of lax credit, loaning, investment, or collection
policies............................................................................................
Continued carrying of losses in the bank’s assets, thereby
failing to disclose a true statement of its condition............
Unwarranted and excessive loans to officers, directors, em­
ployees, or their interests...........................................................

12
3

a, b, c, d, e, f, g, 1, m , n , o, s.
b, d, n.

L o a n a n d in v e stm e n t p o lic ie s :
Continued incurring of severe losses............................................
Excessive volume of assets in Classification IV 1.......................

2
16

Excessive volume of assets in Classification I I I 1......................

13

Abnormal volume of assets of questionable banking merit,
or general unsatisfactory condition of assets.........................
Excessive volume of nonincome-producing assets....................
Progressive deterioration of assets...............................................
Excessive volume of past due loans............................................
Excessive volume of “ other real estate” and “ potential other
real esta te "....................................................................................

8
8
5
12

k, m, n, o, p, q, r, s.
c, d, g, h, k, m, p, s.
m, n, o, p, s.
b, c, d e, f, h, j, k, 1, m, n, o.

17

a, b, c, d, e, g, h, j, k, 1,
m, n, o, p, q, r, s.
c, d, g.
a, c, 1, 1, r.
a, b, c, f, g.

Disproportionate amount of losses in “ other real estate” . . . .
Unwarranted and excessive concentrations of credit..............
Failure to obtain and maintain current credit d ata................
Unwarranted and excessive extension of credit in violation of
la w ...................................................................................................
Carrying of real estate in excess of maximum time permitted
by la w .............................................................................................
M is ce lla n e o u s:
Poor or rapidly declining earnings........................................ .
Unwarranted payment of dividends on preferred s to ck .........
Unwarranted capitalization of foreclosure costs.......................
Unwarranted and excessive amount of contingent liabilities
in trust department.....................................................................
Failure to maintain adequate reserves........................................
Failure to proceed prom ptly to collect under surety b o n d . ..

3
5
5

c, d.
a, b, c, d, e, f, g, h, j, k, 1, m ,
n, o, p, s.
b, d, e, g, h, j, k, m, n, o,
p, r, s.

1

1.

1

b

5
1
1

b, m , n, p, s.
a.
a.

1
1
1

h.
k.
j-

1 For method of classifying assets, see Annual Report of the Federal Deposit Insurance Corporation for
the Year. Ending December 31, 1938, pages 62-70.

The number of operating insured banks not members of the Federal
Reserve System whose capital obligations were held by the Recon­
struction Finance Corporation was reduced from 3,421 on December
31, 1935, to 2,603 at the close of 1939. The amount of such capi­
tal obligations outstanding declined from $225 million on the earlier
date to $169 million on December 31, 1939. Similar reductions
1
The aggregate amount disapproved is the sum of the amounts disapproved in each of the years
during the period, 1935-1939. Since retirements disapproved in one year have in some cases been
approved in subsequent years, the net amount disapproved for the entire period is less than $16 million.




28

FEDERAL DEPOSIT INSURANCE CORPORATION

occurred in the case of banks members of the Federal Reserve
System.1
During the year 1939, applications filed by 1,280 insured banks
not members of the Federal Reserve System for the retirement of
capital obligations held by the Reconstruction Finance Corporation
were approved in amounts aggregating $10.8 million, and disap­
proved in amounts aggregating $3.1 million. Applications for the
retirement of capital obligations held by others were approved in
amounts aggregating $0.5 million, and disapproved in amounts
aggregating $0.1 million. The Corporation approved the reduction
of par or book value, but not retirable value, of preferred capital
obligations (held in part by the Reconstruction Finance Corporation),
and the par value of common stock, to the extent of $7.2 million in
44 banks, and disapproved such reductions to the extent of $0.1
million.
Establishment of branches and relocation of banking offices.

Under the deposit insurance law, insured banks which are not members
of the Federal Reserve System must obtain the approval of the
Corporation prior to the establishment or relocation of any additional
office. Insured banks members of the Federal Reserve System do
not have to obtain the consent of the Corporation for the establishment
of branches.2 The Corporation, when considering applications for
approval of the establishment or relocation of any such office, is
required to consider the same factors enumerated for consideration
in the case of banks wishing to become insured.
From August 23, 1935, to December 31, 1939, the Corporation
acted upon 341 formal applications from banks not members of the
Federal Reserve System for the establishment of branches or the
absorption and continued operation of existing branches. Of these
applications, 315 were approved and 26 disapproved. Not quite
half of the branches approved were established in connection with
the absorption of operating banks, or the replacement of banks or
branches which had been closed or relocated. About two-fifths of
the branches approved provided additional banking offices in the
centers in which they were located. A comparatively small number
of the applications were for continuance in operation of branches
previously operated by absorbed or succeeded banks.
The applications regarding branches acted on by the Corporation
in 1939, and during the period 1935-1939, are classified in Table 169,
page 228.
1 Detailed figures are presented in Tables 123-25, pages 144-49.
2 Such consent must be obtained from the Comptroller of the Currency in the case of national banks,
and from the Board of Governors of the Federal Reserve System in the case of State banks members
of that system.




SUPERVISORY ACTIVITIES OF THE CORPORATION

29

From August 23, 1935, to December 1, 1939, the Corporation
acted on applications for changes in location of 57 banks and 25
branches, of which all but 2 were approved. Cases acted on during
1939 involved 10 banks and 8 branches.
Approval of assumption or release of deposits. Other actions
of the Corporation had to do primarily with applications of insured
banks to assume deposit liabilities of noninsured banks or of other
noninsured financial institutions, to purchase assets of banks in
liquidation, or to pay or release deposits which had been subordinated,
or restricted as to payment prior to August 23, 1935, and hence were
not insured. These actions are summarized in Table 170, page 231.
Regulations and rulings. In accordance with the requirements
of the Act of Congress approved June 19, 1937, the Corporation
during 1939 codified, with slight revisions, its previous regulations,
rulings, and resolutions. The codified regulations, rulings, and
resolutions, deal with the following topics:

Part 301 defines deposits for the purpose of assessments
and insurance;
Part 302 provides for permissible deductions in the com­
putation of the assessment base, and also for the payment of
assessments by banks whose insured status has terminated;
Part 303 deals with advertisement by insured banks of
membership in the Corporation;
Part 304 covers the payment of deposits and interest
thereon by insured banks not members of the Federal
Reserve System other than mutual savings banks;
Part 305 contains rulings relating to the recognition, for
insurance purposes, of deposit ownership not disclosed on
bank records, and pertains chiefly to the Corporation's
pay-off activities in closed banks;
Part 306 lists agents of the Corporation for service of
process;
Part 307 relates to insurance of trust funds.
Parts 301, 302, 303, and 304 were formerly known as Regulations
I, II, III, and IV, respectively. Parts 305, 306, and 307 were not
previously covered by formal regulations of the Corporation, although
portions of them had been issued in the form of rulings and resolutions.
Parts 305 and 307 were adopted or revised during 1939. Both
resolutions related to the determination of claims for insured deposits
in the event of closing of an insured bank. The resolutions regarding



30

FEDERAL DEPOSIT INSURANCE CORPORATION

the recognition of deposit ownership not on bank records related
(a) to deposits evidenced by negotiable instruments; (b) to deposit
obligations for payment of items forwarded for collection by a bank
acting as agent; (c) to deposits of public officers; and (d) to deposits
of approved Federal Housing Administration mortgagees. The
regulations regarding insurance of trust funds related to the de­
termination of the insurance status of (a) allocation of a trust estate;
(b) interest of a trust estate in unallocated trust funds; (c) claims
for funds of corporate trust determined on basis of allocation; and
(d) insured deposit of a trust estate. The text of Parts 305 and 307
is given on pages 67 and 68.
Reports from banks. Beginning with 1936 each insured bank,
as required by law, reported to the Corporation semi-annually the
amount of its daily deposits, for the purpose of determining the amount
of assessment to be paid for deposit insurance.

For three dates, October 1, 1934, May 13, 1936, and September 21,
1938, the Corporation asked each insured bank to submit a report
summarizing its deposit liabilities in a form permitting an estimate
of the amount of deposits protected by insurance.
The Corporation called for reports of assets, liabilities, and capital
accounts as of June 30 and December 31 of each year, and for reports
of earnings, expenses, and disposition of profits for each calendar
year from 1934 to 1939, inclusive, from each insured State bank
not a member of the Federal Reserve System, except those in the
District of Columbia. The forms used for the reports of assets,
liabilities, and capital accounts during 1939 were those adopted by
the three Federal bank supervisory agencies and a number of State
authorities in 1938.
Each insured bank not a member of the Federal Reserve System
operating more than one office was requested to report the name
and location and the amount of deposits in each office as of December
31, 1936, December 31, 1937, June 30, 1938, and June 30, 1939.
The data reported have been summarized and published in pamphlet
form or in the Corporation's annual reports.
L e g is l a t io n D

u r in g

1939

A

f f e c t in g

D

e p o s it

Insurance

Federal legislation. Under the Banking Act of 1935, any insured
State bank, with certain exceptions, which, during the calendar year
1941 or any succeeding year should have average deposits of $1,000,000
or more, would be required to become a member of the Federal Reserve
System or to withdraw from insurance. This provision of the deposit
insurance law was repealed on June 20, 1939. The text of the Act
repealing this provision is given on page 65.



LEGISLATION AFFECTING DEPOSIT INSURANCE

31

On August 4,1939, the United States Senate agreed to a resolution
authorizing the Committee on Banking and Currency to conduct a
study and hold hearings to consider and recommend a national mone­
tary and banking policy by which the monetary and banking authori­
ties of the Federal Government should be guided and governed, and
to consider and recommend the character of governmental machinery
best calculated to carry out such policy. The text of this resolution
is given on page 66.
State legislation directly affecting the operations of the
Corporation. During 1939, the legislatures of 21 States enacted

measures affecting deposit insurance and the operations of the Corpo­
ration. Eight States authorized or further liberalized provisions of
law permitting the deposit of public funds in insured banks without
pledge of security for such funds up to the amount of insurance pro­
tection provided. These States were Arizona, Colorado, Kansas,
Michigan, Nebraska, New Mexico, New York, and North Carolina.
Arizona and Colorado also repealed provisions of law requiring pay­
ment of interest on public funds. The provisions repealed were in
conflict with Federal law prohibiting payment of interest on demand
deposits. Four States authorized the deposit of trust funds in insured
banks without security up to the amount of protection provided by
deposit insurance. These States were Tennessee, Utah, Washington,
and West Virginia.
Double liability of stockholders was repealed in three States:
Nebraska, Tennessee, and West Virginia. In Nebraska, repeal was
effective immediately as to liability for new deposits but only on and
after September 1, 1940, as to deposits on hand as of date of enact­
ment. In West Virginia, repeal was conditional upon the bank being
insured by this Corporation or having unimpaired surplus equal to
50 percent of capital. Action was taken to submit constitutional
amendments to the electorate to accomplish repeal of double liability
of stockholders in Indiana, Oregon, Utah, and Washington. Pennsyl­
vania amended its statute for the purpose of authorizing final repeal
on July 1, 1941, or any subsequent date, conditional upon six months'
prior notice, and to provide that the liability should not apply in
institutions thereafter incorporated.
Authority was clarified for the exchange of examinations and other
information pertaining to banks between State authorities and the
Federal Deposit Insurance Corporation in Alabama, Arizona, Missouri,
and Rhode Island. The Alabama legislature also reduced the required
number of examinations of insured State banks from two to one per
year.
The Arizona legislature enacted legislation expressly confirming the
authority of all banking institutions to take all such steps as might be



32

FEDERAL DEPOSIT INSURANCE CORPORATION

necessary or appropriate to obtain the advantage of insurance of this
Corporation, and confirmed the right of subrogation of the Corporation
to the claims of depositors. In Arkansas, banking laws were amended
to include, as grounds upon which a bank or trust company should be
deemed insolvent, receipt of advice by the State banking department
of the intention of the Corporation to terminate the insured status of a
bank. The Minnesota legislature authorized the appointment of the
Corporation as liquidator in the case of insured banks placed in re­
ceivership. The South Carolina legislature adopted an act providing
that in addition to all other requirements to be observed in obtaining
a charter for a banking institution, the paid-in capital must be
"sufficient to qualify such bank or banking institution for membership
in the Federal Deposit Insurance Fund/'
State legislation relating to bank supervision. In addition to
the legislation enumerated above, 22 States enacted legislation during
1939 affecting banking and bank supervision. The legislation dealt
with the following subjects:
Bank examinations and reports from banks...............California, Kansas,
Oregon
Creation of banking boards or commissions............... Maryland, North
Carolina, Vermont
Capital requirements of banks and trust
companies and the accumulation of surplus.......... California, Illinois,
Minnesota, Missouri,
West Virginia, Wyoming
Investments of savings banks, trust companies,
and fiduciaries.................................................................... Alabama, California,
Indiana, Minnesota,
Missouri, New Jersey,
New York, Pennsylvania
Duties and responsibilities of directors........................ Kansas, New York
Payment of dividends..........................................................Kansas, Missouri,
Wyoming
Escheat of unclaimed deposits......................................... Tennessee
Establishment of paying and receiving stations....... Wisconsin
Regulation of payment of interest on deposits..........New York, Wyoming
Liquidation of banks............................................................Massachusetts, Missouri
General exercise of supervision over banks................. Michigan, Missouri,
Oregon, Rhode Island
Operation of trust departments and trust funds...... Alabama, Pennsylvania
Extension of powers of industrial banks......................North Carolina, Texas




33

ORGANIZATION AND STAFF
O p e r a t in g S t a t e m e n t

of

the

C o r p o r a t io n

Organization and staff. No changes in the directorship of the
Corporation occurred during 1939. Mr. Leo T. Crowley, Chairman
of the Corporation, and Mr. Phillips Lee Goldsborough, Director,
whose appointments expired on September 6, 1939, were reappointed
for six-year terms. The appointment of Mr. Preston Delano as
Comptroller of the Currency, made October 24, 1938, was confirmed
by the Senate on January 12,1939. The Comptroller of the Currency
is ex officio member of the Board of Directors and served in that
capacity throughout the year.

The personnel increased by 321 during the year and on December 31,
1939, consisted of 1,484 officers and employees, of whom 489 were
located in the main office in Washington and 995 in the field and at
regional offices. The number of officers and employees in each
Division of the Corporation is given in Table 9.
T a b le 9.

O FFICERS AND EM PLOYEES OF THE CORPORATIO N,
D e c e m b e r 31 ,193 9

Total

Officers and
adminis­
Clerical,
trative,
stenographic,
supervisory,
and
and technical
custodial
employees
employees

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

1,484

636

848

W ashington office.....................................................................

489

136

353

Directors and aides..................................................................
Division of Finance and Administration............................
Division of Examination.........................................................
Division of Liquidation1.........................................................
Legal Division...........................................................................
Division of Research and Statistics.....................................

25
174
47
173
15
55

7
13
23
73
5
15

18
161
24
100
10
40

District and field offices.........................................................

995

500

495

Division of Exam ination........................................................
Division of Liquidation...........................................................

541
454

390
110

151
344

Total

1 Includes attorneys and aides devoting full time to problems of liquidation and payment of in­
sured claims.

The increase in personnel during the year was chiefly in the Division
of Liquidation and in the Division of Finance and Adminstration and
resulted for the most part from the expansion of the work of the
Corporation in connection with the payment of insured deposits in
insured banks and the liquidation of banks for which the Corporation
was receiver, the liquidation of assets purchased by the Corporation
or taken over as collateral on loans made by it, and the maintenance
of accounting records.
No changes were made in the divisional organization of the Corpo­
ration during 1939. The organization chart of the Corporation as of
December 31, 1939, is shown on page 5.



34

FEDERAL DEPOSIT INSURANCE CORPORATION

Extension of civil service to employees of the Corporation.

In accordance with Executive Orders Nos. 7916, 8043, and 8044,
issued in 1938 and 1939, all clerical and lower administrative staff
positions of the Corporation were covered into the competitive classi­
fied civil service on February 1, 1939. The incumbents of those
positions, numbering 515, are being given the opportunity to acquire
classified civil service status upon passing suitable noncompetitive
examinations.
Competitive examination for assistant bank examiners.

During 1939 a nationwide open competitive examination was held by
the United States Civil Service Commission at the request and in­
vitation of the Corporation for the purpose of selecting assistant bank
examiners for the Corporation's field service. Approximately 8,000
applicants, qualified as to education, experience, and age, competed
in the written portion of the examination which was designed to
measure general aptitude and knowledge of banking and finance.
Applicants obtaining the highest grades on the written examination
competed further in oral examinations attended by bankers, repre­
sentatives of the United States Civil Service Commission, and repre­
sentatives of the Corporation. The oral portion of the examination
was designed to measure character and ability to cooperate and adjust
to new situations.
Vacancies in the examining service of the Corporation above the
rank of assistant examiner are filled through promotions on the basis
of field records, recommendations of the District Supervising Exam­
iners, and written and oral examinations.
Income and expenses. Total income of the Corporation for the
entire period of its existence up to December 31, 1939, amounted to
$218.6 million of which $164.9 million were received from assessments
on insured banks and $53.7 million were from income and profits on
investments. Administrative expenses of the Corporation were $18.5
million and charges on account of insurance expenses and estimated
losses were $36.7 million. Accumulated surplus of the Corporation
on December 31, 1939, was $163.4 million.

Total income for the calendar year 1939 was $51.2 million, of which
$40.7 million represented assessments and $10.5 million interest (less
provision for amortization of premiums) on investments, loans, and
subrogated claims, and profits on securities sold. Total losses and
expenses for the year amounted to $20.7 million, of which $17.4
million were insurance losses and expenses and $3.4 million were
administrative expenses and other charges. The surplus of the
Corporation was increased by $32.2 million during the year, reflecting
net income of $30.4 million and adjustments to surplus, applicable to



35

OPERATING STATEMENT OF THE CORPORATION

prior periods, of $1.7 million. The chief items of income and expense
of the Corporation for each year since beginning operations are shown
in Table 10, and a detailed statement of income and expenses for the
year 1939 is given in Table 11.
Table 10.

INCOME

AND

E X PE N SE S

OF

THE

CORPORATION

SINCE

BEG IN N IN G

O p e r a t io n s 1
(In millions of dollars)
Total

1939

1938

1937

1936

1935

Incom e— to ta l..............................................
Deposit insurance assessments3...............
Investment income and profits...............

218.6
164.9
53.7

51.2
40.7
10.5

47.8
38.3
9.4

48.1
38.8
9.3

43.8
35.6
8.2

20.7
11.5
9.3

7.0

Expenses— to ta l............................................
Deposit insurance losses and expenses. .
Administrative expenses4..........................

55.2
36.7
18.5

20.7
17.4
3.4

10.8
7.8
3.0

7.4
4.7
2.7

6.1
3.6
2.5

5.7
3.0
2.7

4.5
0.3
54.2

Net income added to surplus.................

163.4

30.4

37.0

40.7

37.7

15.1

2.5

21933-34

7.0

1 Figures of total expenses, deposit insurance losses and expenses, and net income added to surplus
for years prior to 1939 differ from those shown in previous Annual Reports because of revisions in
estimates of losses allocated to the different years.
2 Includes expenses from date of organization, September 11, 1933, to December 31, 1934.
3 Assessments collected from insured banks, members of the temporary insurance funds, were credited
to their accounts in total at the termination of the temporary funds, being applied toward subsequent
assessments under the permanent insurance fund, and resulting in no income to the Corporation from
assessments for the term of the temporary insurance funds.
4 Includes furniture, fixtures, and equipment purchased and charged off.
6
After deducting portion of expenses and losses charged to banks withdrawing from the temporary
funds on June 30, 1934.
N O TE :

Figures do not balance precisely because of rounding.

Claims held by Corporation against suspended and merged
banks. On December 31,1939, the Corporation held subrogated and

pending 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
$99.8 million. The estimated recoverable value of these assets is
$64.2 million, $35.5 million being represented by a reserve for losses.1
Audit. In accordance with the Corporation's policy of having an
annual independent audit, the accounts of the Corporation as of
June 30, 1939, were audited by Arthur Andersen & Co. The balance
sheet of the Corporation as of June 30, 1939, together with the audi­
tors' certificate, is given in Table 12.
Assets and liabilities. Condensed balance sheets of the Corpo­
ration as of December 31, 1938, and December 31, 1939, are given in
Table 13.

1 The difference between estimated losses and nonrecoverable expenses of $36.7 million, given on
pages 4 ,1 5 , and 16, and the reserve for losses of $35.5 million given above reflects expenses and realized
losses charged off.




36

FEDERAL DEPOSIT INSURANCE CORPORATION

T a b le 1 1 .

INCOME AND EXPENSES OF THE FEDERAL DEPOSIT INSURANCE
C o r p o r a t io n , C a l e n d a r Y e a r 1939

Incom e:
Deposit insurance assessments............................................................ $ 40,725,480.46
Interest earned and profit on sales of securities (less provision for
10,430,472.84
amortization of prem ium s)..............................................................
Interest received on loans and subrogated claims of depositors. .
29,680.79
Total in co m e ...................................................................

$ 51,185,634.09

Expenses:
Deposit insurance losses and expenses.............................................. $ 17,358,971.14
Administrative expenses (see b e lo w ).................................................
3,279,021.33
Furniture, fixtures, and equipment purchased and charged o ff. . .
110,303.94
Total expenses.................................................................

$ 20,748,296.41

Net income added to surplus....................................

$ 30,437,337.68

Surplus December 31, 1938:
As previously reported.......................................................................... $131,244,960.67
Plus— net adjustments applicable to periods prior to Jan. 1, 1939
1,728,866.68
Surplus as adjusted December 31, 1938...............

$132,973,827.35

Surplus December 31, 1939........................................

$163,411,165.03

DISTRIBUTION OF ADMINISTRATIVE EXPENSES
Salaries..........................................................................................................................................
Professional services..................................................................................................................
Services of other governmental agencies..............................................................................
Transportation............................................................................................................................
Subsistence...................................................................................................................................
Office ren tal.................................................................................................................................
Printing, stationery, and supplies..........................................................................................
Postage, telephone, and telegraph.........................................................................................
Insurance and fidelity bond premiums..................................................................................
Safekeeping and service charges on securities.....................................................................
Subscriptions...............................................................................................................................
Equipment rental.......................................................................................................................
Repairs and alterations.............................................................................................................
Transportation of things..........................................................................................................
Miscellaneous...............................................................................................................................
Provision for undetermined expenses....................................................................................

$
L ess:
Miscellaneous income applicable to reduction of administrative
expenses................................................................................................

19,836.01

2,414,801.93
29,259.17
145.00
114,400.90
380,872.26
197,765.32
89,953.94
36,417.72
1,274.00
11,685.09
6,337.04
8,093.92
17,875.01
2,317.05
6,084.07
1,903.02
3,319,185.44

$

40,164.11

$ 20,328.10

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

$

A d m in istra tiv e expenses fo r th e year e n d in g D e c e m b e r 31,
1939.......................................................................................................




$ 3,279,021.33

37

OPERATING STATEMENT OF THE CORPORATION

T a b le 1 2 .

A r t h u r

A U D ITORS’ REPO RT

A n d e rs e n

&

C o.

67 W a l l

S treet

Ne w Y o r k

To

the

B o ard of D ir e c t o r s ,

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 i o n :

W e have made an examination of the balance sheet of the Federal Deposit In­
surance Corporation at June 30, 1939, including the related statement of income
and expenses for the year ended that date, which statement of income and expenses
is summarized under the surplus account in the balance sheet.

In connection

therewith, we examined or tested accounting records and other supporting evidence
of the Corporation maintained in the Washington office (except records of the
Corporation as Receiver for certain closed insured banks) and reviewed the system
of internal control and the accounting methods, in the manner and to the extent
we deemed appropriate, but we did not make a detailed audit of the transactions.
Collateral to loans to merging insured banks and subcollateral thereto, and evidences
of ownership of assets purchased from insured banks, were held for the most part
at June 30, 1939, by Liquidating Agents of the Corporation.

The items held by

the Liquidating Agents were not examined by us but we reviewed reports as of
recent dates prepared by the Corporation’s internal audit department or inventories
with respect to recent loans prepared by the Corporation’s examiners, covering
their verification of such items.
In our opinion, based upon such examination, the accompanying balance sheet
fairly presents the financial position of the Corporation at June 30, 1939, and the
results of its operations for the year ended that date.
( Signed) A r t h u r A n d e r s e n &

New York, N . Y .,
October 21, 1939.




Co.

Table 12.
FEDERAL

A u d ito rs’ R ep o rt— Continued

DEPOSIT

INSURANCE

gg

CORPORATION

BALANCE SHEET— JUNE 30, 1939
ASSETS

LIABILITIES

$ 38,232,368.21

5,011,077.06

59,927,173.87
778,482.71
44,275.54
$103,993,377.39
40,462,250.63

63,531,126.76

Surplus—
Balance, June 30, 1938............................. $112,699,149.67
N et increase in surplus for the year
ended June 30, 1939—
Incom e—
Deposit insurance assessments. . . . $ 39,001,979.01
Interest earned and net profit from
sales of United States Govern­
ment securities (less provision for
amortization of premiums)..............
10,615,632.30
Interest received on settled loans to
merging insured banks and sub­
rogated claims of depositors........
27,134.20
$ 49,644,745.51

116,570.86
5,011,077.06

$

20,620.04
111,492.49
5,490,599.51

CORPORATION

Less— Reserve for losses..........................




Capital stock, without nominal or par value (nonvoting and
not entitled to the payment of dividends)—
Held by—
United States G overnm ent................................................. $150,000,000.00
Federal Reserve banks.........................................................
139,299,556.99
$289,299,556.99

230,839.06

INSURANCE

Assets acquired through bank sus­
pensions and mergers (less col­
lections) :
Subrogated claims of depositors
against closed insured ban k s.........
N et balances of depositors in closed
insured banks, pending final settle­
ment or not claimed, to be subro­
gated when paid— per con tra ........
Loans to merging insured banks to
reduce or avert deposit insurance
losses, including recoverable liqui­
dation expenses (Note 1) . . . . . . . .
Assets purchased from merging in­
sured banks to reduce or avert
deposit insurance losses.. . .............
Assets purchased from closed insured
b an ks...................................................

343,663,627.21

Capital stock and surplus (The entire capital stock and surplus
constitutes a reserve for future deposit insurance losses and related
expenses with respect to insured banks. It is estimated that the
insured deposits in operating insured banks at June 30, 1939,
amounted to approximately $2U billion):

$

DEPOSIT

United States Governm ent Securi­
ties and accrued interest re­
ceivable thereon:
United States Government securities,
$3UO,320,1+50 'principal amount—•
stated at cost ($3^3,^95,857.32) less
reserve for amortization of premiums
$342,258,332.89
($1,2 37 ,5 2 ^ 43 )..................................
1,405,294.32
Accrued interest receivable................

Liabilities:
Accounts payable................................................................................
Earnest money deposits and unapplied collections applicable
to loans to merging insured banks and assets purchased. . .
Net balances of depositors in closed insured banks, pending
final settlement or not claimed— per con tra ...........................
Unused credits for assessments paid to Tem porary Federal
Deposit Insurance Funds and prepaid assessments...............
Accrued expenses................................................................................
Total liabilities....................................................................

FEDERAL

$22,726,089.04

Cash on hand and on deposit.

Furniture, fixtures, and equipm ent
— Nominal va lu e...................................

Net increase in surplus for the year
ended June 30, 1939.....................
Balance, June 30, 1939.............................
Total capital stock and surp lus.

22,483,461.11
$135,182,610.78
' 424,482,167.77
$429,972,767.28

TE
H
CORPORATION




O
F

N O TE S:
(1) Loans to merging insured banks are evidenced by demand notes bearing interest at the rate of 4 % per annum. Accrued interest receivable on the loans at June 30, 1939,
amounted to $2,311,702.32, which was carried by the Corporation in a memorandum account and is not included in the foregoing balance sheet.
(2) The Corporation from time to time revises its estimates of probable deposit insurance losses and expenses when appraisals are completed or reappraisals are made and
follows the practice of carrying direct to surplus the adjustments of the reserve for losses insofar as such adjustments relate to assets acquired through bank suspensions and
mergers which occurred in a prior period. In the accompanying balance sheet such adjustments (amounting to a net debit of $6,994.64) have been transferred to the related
expense accounts.
(3) Under the provisions of section 12B of the Federal Reserve Act, as amended by Title I of the Banking Act of 1935 (subsection “ o ” ), the Corporation is authorized and
empowered to issue and to have outstanding its notes, debentures, bonds or other such obligations, in a par amount aggregating not more than $974,601,101.64.
The Secretary of the Treasury, in his discretion, is authorized to purchase any such obligations of the Corporation and is authorized and directed to purchase obligations of
the Corporation in an amount not to exceed $250,000,000 par value whenever in the judgment of the Board of Directors of the Corporation additional funds are required for
insurance purposes.
The Reconstruction Finance Corporation, as provided in subsection (b) of section 5e of the Reconstruction Finance Corporation A ct, as amended, is authorized and directed
to purchase at par value such obligations of the Corporation as are authorized to be issued, upon request of the Board of Directors of the Corporation, provided that the Recon­
struction Finance Corporation shall not purchase or hold at any time said obligations in excess of $250,000,000 par value. If the Reconstruction Finance Corporation fails for
any reason to purchase any of the obligations of the Corporation, the Secretary of the Treasury is authorized and directed to purchase such obligations in an amount equal to
the amount of such obligations the Reconstruction Finance Corporation so fails to purchase.

STATEMENT

51,923.27
$429,972,767.28

Expenses—
Deposits insurance losses and ex­
penses (Note 2) .............................. $ 23,947,266.90
Administrative expenses...................
3,127,216.69
Furniture, fixtures, and equipment
purchased.........................................
86,800.81
$ 27,161,284.40

OPERATING

Deferred charges and miscellaneous
receivables.........................................

1.00

00
SO

40

FEDERAL DEPOSIT INSURANCE CORPORATION

T able 13.

COM PARATIVE B A LA N CE SHEET OF THE FE D E RA L D E P O S IT INSURANCE

C

o r p o r a t io n ,

D

ecem ber

31, 1939,

and

D

ecem ber

31, 1938

1939

1938

$ 38,798,794.90

$ 18,825,799.24

2,796,026.59
57,366,066.44

909,151.21
26,613,183.29

802,991.62
$ 99,763,879.55
35,533,139.86
$ 64,230,739.69

851,490.58
$ 47,199,624.32
20,649,547.76
$ 26,550,076.56

28,276,433.37

22,230,284.28

363,542,301.83

372,758,341.10

ASSETS
Assets acquired through bank suspensions and mergers:
Subrogated claims of depositors against closed insured b an k s..
Net balances of depositors in closed insured banks pending settle­
ment or not claimed, to be subrogated when paid— contra. . . .
Loans to merging banks to avert deposit insurance losses..............
Assets purchased from merging banks and receivers of closed in­
sured banks to avert deposit insurance losses.................................
Less:

Reserve for losses.

Cash on hand and on deposit..........................................................
United States Government securities (cost less reserve for
amortization of premiums) and accrued interest receivable. .
Furniture, fixtures, and equipm ent...............................................

1.00

1.00

Deferred charges and miscellaneous assets.................................

64,251.66

83,623.94

Total assets.......................................................................

$456,113,727.55

$421,622,326.88

L IA B IL IT IE S
Current liabilities:
Accounts and assessment rebates payable............................................ $
N et balances of depositors in closed insured banks pending settle­
ment or not claimed— contra...............................................................
Earnest money deposits and unapplied collections applicable to
loans to merging banks and assets purchased.............................

$

77,452.12

Reserve for administrative and deposit insurance expenses. .

909,151.21

209,678.02

8,245.01

2,583.76

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

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

289,113.00
2,796,026.59

41,456.50

105,604.16
$

3,403,005.53

41,504.38
$

1,077,809.22

C A P IT A L
Capital stock:
United States.................
Federal Reserve ban ks.

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

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

Surplus— (see Table 11 )....................................

163,411,165.03

131,244,960.67

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

$452,710,722.02

$420,544,517.66

Total liabilities and capital.

$456,113,727.55

$421,622,326.88




PART TWO
DEPOSIT INSURANCE AND BANKING DEVELOPMENTS







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

1934-1939

The first six years of deposit insurance was a period of business and
financial recovery with a rapid and sustained expansion in deposits
and assets of banks. The condition of the banks improved sub­
stantially and, for the most part, their earnings were better in the
last half than in the first half of the period. The trend toward
branch banking which has been in evidence since the turn of the
century continued during the six years.
C o m m e r c ia l B a n k i n g O f f ic e s

Banking offices in operation. The number of commercial banks
and branches in operation in the United States and possessions
increased from approximately 17,500 on January 1, 1934, to 18,095
on December 31, 1939. The growth reflected chiefly an increase
in the number of operating branches of banks. The number of banks
was approximately 100 fewer at the close than at the beginning of
the six-year period, while the number of branches in operation in­
creased by about 700. The figures are summarized in Table 14.
Table 14.
U

n it e d

State s

N
and

um ber

OF COMMERCIAL B AN K IN G OFFICES IN THE

P o s s e s s io n s , D

ecem ber

30, 1939,
Dec. 31,
1939

and

Ja n u a r y
Jan. 1,
19341

1, 1934
Change

18,095

17,490

+ 605

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

14,534

14,656

-122

Unit banks.................................................................................

13,579

lh ,053

T o t a l o f f i c e s .....................................................................................
Banks:

Banks operating wore than one office......................................

955

603

+ 352

Branches or additional offices...................................................

3,561

2,834

+ 727

1 Available figures for private banks are included, but these are known to be incomplete.

The number of banks increased by more than 700 during 1934 and
early 1935 but declined continuously thereafter. A total of ap­
proximately 1,500 banks came into existence or were licensed to
operate without restriction during the six-year period, while a slightly
larger number went out of existence through suspension, voluntary
liquidation, absorption, merger, or consolidation.1 The number of
branches increased from year to year. Approximately 25 percent
of the banking offices were members of branch systems at the close
of 1939, compared with 20 percent at the beginning of 1934,18 percent
in 1925, and less than 1 percent in 1900.
i Detailed figures of changes in the number of insured banks are shown in Table 102, page 82.




43

44

FEDERAL DEPOSIT INSURANCE CORPORATION

The number of noninsured commercial banks in operation declined
from approximately 1,670 on January 1, 1934, to 996 at the close
of the period, while the number of insured commercial banks in­
creased from 12,987 to 13,538.
Distribution of banks by size. The growth in assets and
deposits of banks and the discontinuance of operation of large numbers
of small and medium-size banks resulted in a substantial shift in the
distribution of banks by size over the six-year period. The figures
are shown in Table 15.
T able 15.

N U M B E R OF COMMERCIAL B A N K S IN THE U N ITE D STATES
and

P

o s s e s s io n s ,

1939

and

1934

GROUPED BY AMOUNT OF DEPOSITS

Number of banks

June 30,
1939

Jan. 1,
19341

Percentage
distribution
June 30,
1939

100.0%

J a n .1,
1934

All b anks..................................................................................

14,585

14,656

Banks with deposits of—
$100,000 or less....................................................................
$100,000 to $250,000..........................................................
$250,000 to $500,000..........................................................

100.0%

821
2,838
3,253

2,449
3,884
2,887

5.6
19.5
22.3

16.7
26.5
19.7

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

3,012
2,119
1,461

2,219
1,480
965

20.7
14.5
10.0

15.1
10.1
6.6

$5,000,000 to $10,000,000.................................................
$10,000,000 to $50,000,000...............................................
More than $50,000,000......................................................

513
395
128

343
255
93

3.5
2.7
.9

2.4
1.7
.6

N ot available........................................................................

45

81

.3

.6

1 Available figures for private banks are included, but these are known to be incomplete.

In 1934, approximately 45 percent of the banks had deposits not
exceeding $250,000 each. In 1939 the proportion had declined to 25
percent. On the other hand, only 5 percent of the banks had deposits
of more than $5,000,000 each in 1934, whereas 7 percent of the banks
were of that size in 1939. The proportion of banks with deposits of
$500,000 to $5,000,000 each also increased substantially during the
period. These changes, however, were not accompanied by an in­
creased concentration of deposits in the very large banks. Both in
1934 and 1939, the 100 largest commercial banks in the country held
approximately 55 percent of the deposits of all commercial banks.
A ssets

and

L ia b i l i t i e s

of

I n s u r e d C o m m e r c ia l B a n k s

Changes during six years 1934-1939. Assets and deposits of
insured commercial banks increased by more than 50 percent during



45

ASSETS AND LIABILITIES OF INSURED COMMERCIAL BANKS

the six years of deposit insurance. Total assets increased from
$43.4 billion on June 30, 1934, the first date for which statements
are available for all insured banks, to $63.1 billion on December 30,
1939, or by $19.7 billion.1 This increase was composed of the fol­
lowing items:
Increase in currency and coin on hand and in
reserves with Federal Reserve banks...........
Increase in amounts due from other banks___
Increase in securities.........................................
Increase in loans...............................................
Decrease in other assets....................................

$8.2 billion
4.3 billion
5.9 billion
1.7 billion
-0.4 billion

Changes in assets and liabilities of operating insured commercial
banks from June 30, 1934, to December 30, 1939, are shown in Table
16.
Table 16.

ASSETS AND L IA B ILITIE S OF OPERATIN G INSURED COMMERCIAL B A N K S ,
D

ecem ber

30, 1939,

and

Ju n e

30, 1934

(Amounts in millions of dollars)
Amount

Change

D ec. 30,
1939

June 30,
1934

Amount

12,671
9,205

4,442
4,901

+ 8,229
+ 4,304

+ 185.0
+ 8 7 .8

15,568
6,860
16,866
1,657
320
63,147

10,302
6,196
15,190
1,640
764
43,435

+ 5,266
+ 664
+ 1,676
+ 17
-444
+ 19,712

+ 51.1
+ 10.7
+ 11.0
+ 1.0
-58.1
+ 4 5 .4

Deposits of other American ban ks......................................
Other demand deposits...........................................................
Other time deposits.................................................................
Total deposits...........................................................

8,761
32,238
15,077
56,076

4,271
19,169
12,393
35,833

+ 4,490
+ 13,069
+ 2,684
+ 20,243

+ 105.1
+ 68.2
+ 21.7
+ 56.5

Miscellaneous liabilities..........................................................
Total capital accounts............................................................
Total liabilities and capital accounts.............

546
6,525
63,147

1,357
6,245
43,435

-811
+ 280
+ 19,712

-59.8
+ 4.5
+ 45.4

Percent

ASSETS
Cash and reserves with Federal Reserve ban ks...............
Amounts due from other banks............................................
U. S. Government obligations, direct and fully guaran­
teed .....................................................................................
Other securities........................................................................
Loans, discounts, and overdrafts........................................
Fixed assets...............................................................................
Miscellaneous assets................................................................
Total assets................................................................
LIABILITIES AND CAPITAL

Detailed figures— See Table 117, pages 128-31.

The increase in currency and coin on hand and in reserves with
the Federal Reserve banks was the result chiefly of an increase in
the gold stock of $9.8 billion, and an increase in Treasury currency
outstanding of $0.6 billion, partially offset by a withdrawal of $1.8
billion of currency by the public and by an increase of $0.4 billion
in deposits of foreign banks with the Federal Reserve banks.
1
of 1934.

Assets of these banks are estimated to have increased by about $4 billion during the first six months




46

FEDERAL DEPOSIT INSURANCE CORPORATION

Of the $5.9 billion increase in securities held by insured commercial
banks, $5.3 billion was in obligations issued by or guaranteed by
the United States Government. The excess of new loans extended
by banks over loan repayments by borrowers was considerably
greater than the net increase of $1.7 billion shown in the consolidated
statements. The banks charged off as losses the net amount of
about $1 billion of loans, so that new loans are estimated to have
exceeded loan repayments by at least $2.5 billion. The growth in
loans was in industrial, commercial, agricultural, and real estate
loans.
Deposits of insured commercial banks increased from $35.8 billion
on June 30, 1934, to $56.0 billion on December 30, 1939, or by $20.2
billion.1 Other liabilities of the banks declined by $0.8 billion during
the period as a result chiefly of retirement of national bank notes.
Total capital accounts increased by only $0.3 billion.
Changes during 1939. Deposits of insured commercial banks
increased by $6.3 billion during 1939, the largest single increase of
any year of deposit insurance since 1934. As in the case of the
period since 1934, the increase in 1939 reflected chiefly an influx of
funds from abroad, redeposits by banks of funds in other banks,
purchases of obligations issued by or guaranteed by the United States
Government, and a growth of loans, chiefly to commercial and in­
dustrial borrowers. Detailed figures for insured commercial banks
are presented in Table 117, pages 128 to 131. Summary figures for
both insured and noninsured commercial banks are shown in Table
116, pages 124 to 127.
E x a m i n e r s ' A p p r a is a l

of

C o n d it io n

of

Insured

C o m m e r c ia l B a n k s

Analysis of assets. Total assets of 13,505 insured commercial
banks examined in 1939 were valued on their books at $58.3 billion.2
Examiners appraised the assets at $58.0 billion, or 99.5 percent of
book value, the remaining 0.5 percent representing examiners' net
deductions on appraisals. Slightly more than 5 percent of the
assets were of substandard quality. Approximately 94 percent were
not criticized compared with about 92 percent in 1938. Percentage
figures for 1939 are shown in Table 17. The fixed assets not criti­
cized, shown in the table, represent the value of bank premises and
equipment considered by the examiners to be reasonable in proportion
to the business of the bank.
1 Deposits of insured commercial banks increased by about $4 billion during the first half of 1934.
2 The number of commercial banks for which data of examinations were tabulated is about 100 less
than the number of operating insured commercial banks; some banks were not examined in 1939 and
reports of examination of some banks were not available for inclusion in the tabulations. See the
Explanatory N ote to Part Five, page 74.




47

CONDITION OF INSURED COMMERCIAL BANKS

Table 17.

APPRAISED VALUE OF ASSETS PER
E

x a m in a t io n

in

$100

OF BOOK VALU E,

1939

INSURED COMMERCIAL BANKS
Appraised value
B ook
value

Examiners’
deductions
(net)
Total

T otal assets......................................................

$100.00

Cash and due from ban ks..........................
Securities.........................................................
Loans...............................................................
Fixed assets...................................................
Miscellaneous assets....................................

100.00
100.00
100.00
100.00
100.00

Sub­
standard

N ot
criticized

$0.52

$99.48

$5.10

$94.38

.38
.98
3.69
.05

100.00
99.62
99.02
96.31
99.95

5.66
7.65
29.83
5.34

100.00
93.96
91.37
fifi.48
94.61

Detailed figures- See Tables 131 and 133, pages 162-65 and 170-73.
—

Three-fifths of the banks, with four-fifths of the deposits, had
fixed and substandard assets equal to less than 10 percent of the
appraised value of assets. Approximately one-tenth of the banks,
holding less than 4 percent of the deposits, had fixed and substandard
assets equal to 20 percent or more of the appraised value of assets.
The figures are shown in Table 18.

T a b le 1 8.

N u m b e r AND DEPOSITS OF BANKS GROUPED BY

F ix e d a n d S u b s ta n d a r d A s s e t s R a t i o , E x a m in a tio n in

1939

INSURED COMMERCIAL BANKS

Number of banks

Total

Amount of deposits

Total (in
Percentage millions of Percentage
distribution
distribution dollars)

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

13,505

Banks with fixed and substandard assets per
$100 of appraised value of assets of—
$0.00 to $9.99.......................................................................
$10.00 to $19.99...................................................................
$20.00 to $29.99...................................................................

100.0%

50,977

100.0%

8,206
3,958
1,009

60.7
29.3
7.5

41,119
7,939
1,314

80.6
15.6
2.6

$30.00 to $39.99...................................................................
$40.00 or m ore......................................................................

253
79

1.9
.6

497
108

1.0
.2

Detailed figures— See Tables 134-35, pages 174-75.

The significance of the amount of fixed and substandard assets
must be considered in relation not only to the total amount of assets
but also to the net sound capital. In about 3,200 of the banks,
holding about 20 percent of the deposits of the country, fixed and
substandard assets exceeded net sound capital. In approximately
700 of the banks the amount of fixed and substandard assets was
more than double the amount of net sound capital. These 700 banks



48

FEDERAL DEPOSIT INSURANCE CORPORATION

held about $2 billion of deposits, or about 4 percent of total deposits
of all insured commercial banks. The number and deposits of
operating insured commercial banks examined in 1939 grouped
according to net sound capital ratio and by fixed and substandard
asset ratio appear in Tables 134 and 135, pages 174 and 175.
In general, the ratio of substandard to appraised value of assets
was higher in the small banks than in the large banks. These dif­
ferences tended to be offset by the higher ratio of net sound capital
to appraised value of assets in the small banks as compared with the
large banks. Comparisons are given in Table 19.
Table 19.

SUBSTANDARD ASSET AND N E T SOUND C AP IT A L R A T IO S,
E

x a m in a t io n

in

1939

INSURED COMMERCIAL BANKS GROUPED BY AMOUNT OF DEPOSITS

Number
of banks

Substandard
assets per
$100 of
appraised
value of
assets

N et sound capital
per $100 of—
Appraised
value of
assets

Total
capital
accounts

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

13,505

$5.12

$10.63

$95.18

Banks with deposits of—
$100,000 or less...................................................
$100,000 to $250,000.........................................
$250,000 to $500,000.........................................

488
2,486
3,118

11.79
8.90
7.51

25.55
17.50
14.80

92.28
94.70
95.20

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

2,937
2,064
1,425

7.26
7.62
7.41

13.27
12.54
12.13

94.67
93.29
93.43

$5,000,000 to $10,000,000................................
$10,000,000 to $50,000,000..............................
More than $50,000,000.....................................

487
383
117

6.67
5.72
3.85

11.52
10.20
9.74

94.64
94.55
96.11

Detailed figures— See Tables 127 and 129, pages 152 and 156.

The proportion of assets criticized by examiners has declined during
the six years of deposit insurance. The figures for insured commercial
banks not members of the Federal Reserve System are presented in
Table 20. Comparable figures for banks members of the Federal
Reserve System have not been compiled but available data indicate
similar improvement in quality of assets of those banks. The im­
provement reflected:
(1) Elimination through suspension, liquidation, or merger of
some banks which had excessively high proportions of criticized
assets;
(2) Elimination of criticized assets through charge-off, sale, or
liquidation;
(3) Improvement in the status of assets through economic recovery;
(4) Acquisition by the banks of substantial amounts of assets of
sound banking quality.



49

CONDITION OP INSURED COMMERCIAL BANKS

Table 20.

E

x a m in e r s ’

A N A LY SIS OP ASSETS, E XAM IN ATIO N S

1933-1939

INSURED COMMERCIAL BANKS NOT MEMBERS OP THE FEDERAL RESERVE SYSTEM
1939
B o o k v a lu e ......................

1938
1938
u n iform 1 original1

100.0%

100.0%

100.0%

11.7
1.2
10.5
88.3

14.2
1.5
12.8
85.7

14.1
1.7
124
85.9

C riticized......................
Deductions4................
Substandard...............
N ot criticized..............

1937

1936

1935

1934

100.0 %

100.0%

100.0%

100.0 %

17.6
14
16.2
82.4

23.7
u.i
19.6
76.3

(3)
6.7
(3)
(3
)

16.7
1.1
h
15.6
83.3

21933
100.0%
(s)
10.5
(3)
(s)

1 The differences between the uniform examination procedure and the procedure previously followed
by the Corporation are discussed in detail in Part Three, pages 61-78, of the Annual Report of the Federal
Deposit Insurance Corporation for the Year Ending December 31, 1938.
2 Examination for admission to insurance in 1933 and early 1934.
3 N ot available.
4 Differences between book values and examiners’ appraisals of assets.
5 Includes all fixed assets.
Detailed figures— See Table 137, page 177.

Improvement in quality of different types of assets held by the
insured commercial banks not members of the Federal Reserve
System is shown by the figures in Table 21.
Table 21.

PROPORTION OF ASSETS NOT CRITICIZED BY E XA M IN ER S,
E x a m i n a t i o n s 1934-1939

INSURED COMMERCIAL BANKS NOT MEMBERS OF THE FEDERAL RESERVE

SYSTEM

1939
Total assets1.........................................................
Cash and due from ban ks.................................
Securities...............................................................
Loans and discounts..........................................

1938

1937

1936

1935

1934

88%
100
89
87

86%
100
887
84

83%
100
88
81

82%
100
85
75

76%
100
78
68

(2)
100%
(2)
59

1 Prior to 1939, figures for total assets contain errors of as much as 1 percent due to lack of com ­
parability in classification of items included under “ fixed and miscellaneous assets not criticized” .
The latter item, not shown separately because of lack of comparability, ranged from 35 to 44 percent
of fixed and miscellaneous assets.
2 N ot available.
3 Percentage determined on basis of valuation and classification procedure (“ uniform procedure” )
used in latter part of 1938 and in 1939. Percentage would be 88 on basis of valuation and classification
procedure used prior to 1938.

Analysis of capital accounts. At the time of their 1939 examina­
tions, the insured commercial banks had net sound capital of $6.2
billion, equal to approximately 95 percent of total capital accounts
and 10.6 percent of the appraised value of assets. Investment of
the Reconstruction Finance Corporation in the preferred capital of
banks amounted to $501 million (retirable value), or 7.7 percent of
total capital accounts. Net sound private capital amounted to
9.8 percent of the appraised value of assets.

More than one-fifth of the banks, holding almost three-fifths of
the deposits in all insured commercial banks, had net sound capital
of less than 10 percent of the appraised value of assets.1 Ten of these
banks with deposits of $10 million had no capital at all after ad­
1 Almost two-fifths of the banks operating branches, holding two-thirds of the deposits of such banks,
had a net sound capital of less than 10 percent of the appraised value of assets. Nine banks operating
branches, with deposits of $148 million, had net sound capital of less than 5 percent of the appraised
value of assets.




50

FEDERAL DEPOSIT INSURANCE CORPORATION

justment for estimated losses and for assets of doubtful value, and
75 other banks, with deposits of $348 million, had net sound capital
of less than 5 percent of the appraised value of assets. Thirty of
the 75 banks had no net sound capital except that represented by
investment of the Reconstruction Finance Corporation. Approxi­
mately 4,700 banks had net sound capital equal to more than 15
percent of the appraised value of their assets. Distribution of the
banks according to their capital ratios is shown in Table 22.
Table 22.

N

AND DE PO SITS OF B A N K S GROU PED BY N E T SOUND
C a p i t a l R a t i o , E x a m i n a t i o n i n 1939

um ber

INSURED COMMERCIAL BANKS

Number of banks

Total

All banks..................................................................................
Banks with net sound capital per $100 of
appraised value of assets of—
$0.00 or less..........................................................................
$0.01 to $4.99.......................................................................
$5.00 to $9.99.......................................................................
$10.00
$15.00
$20.00
$25.00

to
to
to
or

$14.99...................................................................
$19.99...................................................................
$24.99...................................................................
m ore......................................................................

13,505

Amount of deposits

Percentage Total (in
distribution millions of Percentage
dollars) distribution
100.0%

50,977

100.0%

10
75
2,799

.1
.6
20.7

10
348
29,337

.0
.7
57.6

5,958
2,900
1,119
644

44.1
21.5
8.3
4.7

16,345
3,376
871
690

32.1
6.6
1.7
1.3

Detailed figures— See Tables 134-35, pages 174-75.

In general, the small banks had higher ratios of net sound capital
to appraised value of assets than did the large banks. Among the
3,000 banks with deposits of less than $250,000, fewer than onetwentieth had a ratio of net sound capital to appraised value of
assets of less than 10 percent, and one-third had a ratio of 20 percent
or more. Among the 500 banks with deposits of more than $10
million, about three-fifths had a ratio of net sound capital to appraised
value of assets of less than 10 percent, and only 13 banks had a ratio
of 20 percent or more. Deposits of these large banks with net sound
capital ratios of less than 10 percent amounted to $25 billion. The
distribution of number and deposits of insured commercial banks,
grouped according to net sound capital ratio and by fixed and
substandard assets ratio, by rate of average net earnings, and by
deposits are shown in Tables 134 and 135, pages 174 and 175. Aver­
ages for the size groups are shown in Table 19.
The failure of capital accounts to increase significantly while total
assets were increasing rapidly has resulted in a reduction in the capital
ratios of the banks during the past two years. The proportion of
banks with net sound capital of less than 5 percent of total deposits



51

EARNINGS OF INSURED COMMERCIAL BANKS

continues to be smaller than in the early years of deposit insurance.
However, the proportion with net sound capital of 10 percent or
more, while higher than at the time of admission of the banks to
insurance in 1933 and early 1934, was lower in 1939 than in any of
the early years of deposit insurance.1 Figures for insured commercial
banks not members of the Federal Reserve System are presented in
Table 23. Data for banks members of the Federal Reserve System
are not available for the earlier years. Available information in­
dicates, however, that the data for those banks would show a some­
what similar trend.
Table 23.
R a t io
INSURED

of

N

et

PERCENTAGE DISTRIB U TIO N OF B A N K S ACCORDING TO
Sound

C a p it a l

to

D

e p o s it s ,

E x a m in a t io n s

1933-1939

COMMERCIAL BANKS NOT MEMBERS OF THE FEDERAL RESERVE SYSTEM

1939

All b a n k s ..............................
Banks with net sound
capital per $100 of
deposits of—
$0.00 or less.......................
$0.01 to $4.99....................
$5.00 to $9.99....................
$10.00 or m ore...................

1938
1938
un iform 1 original1

1937

1936

1935

1934

21933

100.0%

100.0%

100.0%

100.0%

100.0%

100.0%

100.0%

100.0%

.1
.6
12.4
86.9

.1
.5
12.1
87.3

.5
1.8
14.0
83.7

.2
.9
13.8
85.1

.3
.9
10.0
88.8

.5
1.6
10.9
87.0

.6
1.9
10.5
87.0

10.0
9.6
14.9
65.5

1 The differences between the uniform examination procedure and the procedure previously followed
by the Corporation are discussed in detail in Part Three, pages 61-78, of the Annual Report of the Federal
Deposit Insurance Corporation for the Year Ending December 31, 1938.
2 Examination for admission to insurance in 1933 and early 1934.

Earnings

of

Insured Commercial Banks

Annual gross current operating earnings of insured commercial
banks increased over the six-year period, 1934-1939. Expenses
increased only slightly over the period and net current operating
earnings and net profits were higher in the later years than in the
early years of deposit insurance. The amounts of earnings, expenses,
profits, and dividends, of insured commercial banks for the six years
1934-1939 are given in Table 24.
Current operating earnings. The growth in earnings over
the six-year period reflected larger amounts of income from loans,
from fees and service charges, and from miscellaneous current opera­
tions. Current income from loans continued to constitute the most
important source of income to banks, amounting to nearly half
of gross current operating earnings. Sources of earnings in 1939
were as follows:
1 The ratio of net sound capital to total deposits is used for historical comparisons because distri­
butions of banks according to the ratio of net sound capital to the appraised value of assets are not avail­
able for the earlier years.




52

FEDERAL DEPOSIT INSURANCE CORPORATION

Income from loans..............................................
Interest and dividends on securities..................
Fees and service charges....................................
Other current operating earnings.......................
Table 24.

E

a r n in g s ,

E

x pen ses, and

in s u r e d

c o m m e r c ia l

D

45 percent
32 percent
8 percent
15 percent

iv id e n d s ,

1934-1939

banks

(Amounts in millions of dollars)
1939

1938

1937

1936

1935

1934

Gross current operating earnings......................
Total current operating expenses.....................

1,603
1,153

1,582
1,153

1,631
1,160

1,564
1,122

1,483
1,081

1,516
1,115

Net current operating earnings___

450

429

471

442

402

401

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

381
438

329
454

309
395

584
501

432
627

292
1,032
2-339

Net profits after income taxes1. . . .

388

300

380

523

207

Cash dividends declared and interest paid on
cap ital..................................................................

232

222

225

223

207

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

156

78

155

300

188
2-527

1 Income taxes are not included under total current operating expenses by banks not members of the
Federal Reserve System, except in 1934 and 1935. These banks paid income taxes of $2.4 million in 1936,
$4.8 million in 1937, $4.3 million in 1938, and $4.6 million in 1939.
2 Net loss.
Detailed figures— See Table 140, page 180.

The amount of interest and dividends received on securities was
lower in 1938 and in 1939 than in any of the preceding four years.
The rate of income on securities has shown a steady decline since
1934, amounting to a total reduction of three-quarters of 1 percent.
The decline reflected a reduction in long-term interest rates and
increased concentration in holdings of those securities which have the
lowest yields—obligations issued by or guaranteed by the United
States Government and obligations issued by States and other
political subdivisions. Computed average rates of interest received
on loans and on securities and paid on time and savings deposits for
the years 1934-1939 are shown in Table 25.
Income from fees and service charges increased from year to year
and is estimated to be greater in 1939 than in any other year. In­
come from service charges on deposit accounts in 1939 was about
twice the amount reported for 1934. Most of this latter increase
may be attributed to the initial adoption during the period of service
charges by some banks and imposition of higher rates of charges by
others.
Income on loans. The average rate of gross income on loans
declined from 1934 to 1937 and increased gradually thereafter. The
average rate in 1939 was 4.5 percent, the highest since 1934. The
figures are shown in Table 25. The increase in average rate of income



53

EARNINGS OF INSURED COMMERCIAL BANKS

on loans did not reflect increases in rates of interest charged customers
but a more rapid expansion in loans upon which rates are customarily
higher, than in loans upon which rates are customarily lower, than
average.
Table 25.

INTEREST R E C E IVE D ON LOAN S AND ON SECURITIES

AND INTEREST P A ID ON T lM E AND SAVINGS DE PO SITS,

1934-1939

INSURED COMMERCIAL BANKS

1939

1938

1937

1936

1935

1934

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

$4.46

$4.36

$4.28

$4.34

$4.40

$4.63

Interest and dividends on securities per $100
of securities....................................................

2.38

2.56

2.68

2.66

2.87

3.17

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

1.43

1.55

1.62

1.72

2.01

2.40

As a rule, the banks with high net earnings in 1938 and 1939,
chiefly the smaller country banks, reported higher rates of income
on loans and a higher proportion of assets in the form of loans than
did the banks with low net earnings. In many localities and regions,
custom and an absence of competitive sources of credit for customers
combine to maintain rates materially higher than those quoted in
the centers most affected by extreme monetary ease. The higher
average rate of income on loans can be attributed only in part,
however, to geographical differences in the level of interest rates.
A large part of the difference in rates must be attributed to differences
in the character of the loans made. A very substantial portion—if
not the majority—of the banks whose average rates of income on
loans are materially above the average rates received by other banks
are banks most of whose loans are small. These loans seldom exceed
$300 or $400 each; most of them are for less than $100, and many
are for less than $50. While many of these loans are extended to
farmers, merchants, and small manufacturers, and are for productive
purposes, they would be handled in a large city bank, if at all, through
a personal loan department and would constitute a very small part
of the total volume of business of such a bank. This type of business
is also handled in many places by personal finance and industrial
loan companies. As such loans are for small amounts and often are
repaid on an installment basis, they are frequently subject to minimum
charges and charges other than interest. These charges are included
in the gross income on loans. Gross rates of income on loans of the
banks engaged predominantly in this type of business, while high in
comparison with rates quoted on prime commercial paper in the
important money markets, do not appear to be higher than those



54

FEDERAL DEPOSIT INSURANCE CORPORATION

received by personal loan departments of large city banks or by
institutions other than banks engaged in the same kind of business.
The distribution of insured commercial banks according to rate of
net earnings in 1939, and by rate of income on loans, and by ratio
of loans to total assets, is presented in Table 145, page 187.
Current operating expenses. Expenses of the banks increased
slightly over the six-year period. Notwithstanding a substantial
growth in the volume of time and savings deposits, the amount of in­
terest paid depositors was reduced considerably and constituted less
than 20 percent of current operating expenses in 1939, compared with
30 percent in 1934. The decline in amount of interest paid on deposits
was offset by larger amounts disbursed for salaries and wages, taxes,
and other current operating expenses.
Interest on time and savings deposits. The average rate
of interest paid on time and savings deposits declined in 1939, as in
each of the preceding years since 1934, and for the later year amounted
to about 1.4 percent of average time and savings deposits.1 Figures
are presented in Table 25.

Rates paid varied considerably from bank to bank. The variation
appeared to reflect the banks' abilities to pay interest. In general,
the banks which paid the highest rates of interest on time and savings
deposits were the banks which showed the best earnings, while the
banks which paid the low rates were those with low rates of earnings.
The banks which paid the higher rates of interest were generally
the banks with the greater proportion of assets in the form of loans
upon which good rates of income were obtained. They paid re­
latively high rates of interest on deposits apparently because it was
worth their while to do so; for the most part, they were the small
banks or banks in small communities. The lowest rates of interest
paid on time and savings deposits were found in the larger cities
where interest rates generally were very low and where service charges,
fees, and rates of interest on deposits were regulated by clearing
house agreements.
The distribution of insured commercial banks according to the
rate of interest on average time and savings deposits and by rate
of net earnings in 1939, by rate of income on loans, and by ratio
of loans to total assets, is presented in Table 146, page 188. The
distribution of insured commercial banks according to the rate of
interest paid on average time and savings deposits and by ratio of
1
The “ rate of interest on time and savings deposits” is the ratio of reported interest payments to the
average of the amount of time and savings deposits reported on the call dates each year. This computed
rate is usually less than the announced rate in most banks, because of the methods used in computing
interest. It is always less than the maximum announced rate, when rates are varied according to type,
m aturity, or size of deposit. The computed rate also varies from announced rates to the extent that the
balance upon which interest is actually calculated by the bank differs from the average amount of the
deposit.




55

EARNINGS OF INSURED COMMERCIAL BANKS

time and savings deposits to total deposits, by amount of deposits,
and by population of center in which located, is presented in Table
147, page 189.
Net current operating earnings. Net current operating earnings
of insured commercial banks were higher in the last half than in the
first half of the six-year period, 1934-1939.

The increase in net earnings was not so great as the growth in
total assets, and the rate of earnings on assets was lower at the close
than at the beginning of the period. However, the increase in net
earnings was greater relatively than the increase in total capital
accounts, and the amount of net earnings per $100 of total capital
accounts showed a net gain over the period. Net earnings and net
profits for each $100 of total assets and of total capital accounts are
shown for each of the six years, 1934-1939, in Table 26.
Table 26.

R A T E S OF N E T EAR N IN G S, N E T PR O FITS, AND D IV ID E N D S,

1934-1939

INSURED COMMERCIAL BANKS
Net earnings

N et profits
Dividends
per $100
of total
capital
accounts

Per $100
of total
assets

Per $100
of total
capital
accounts

Per $100
of total
assets

Per $100
of total
capital
accounts

1939......................................................................

$0.75

$6.94

$0.65

$5.98

1938......................................................................

.78

6.70

.54

4.68

3.47

1937......................................................................

.86

7.40

.69

5.97

3.54

$3.58

1936......................................................................

.83

7.05

.98

8.35

3.56

1935......................................................................

.84

6.51

.43

3.35

3.36

1934......................................................................

.89

6.48

1-0.75

1-5.48

3.03

1 Net loss.

Of the 13,339 insured commercial banks for which comparable
information is available for the full year 1939, about 1 percent reported
expenses in excess of gross current operating earnings for that year,
and an additional 17 percent reported net earnings of less than $5.00
per $100 of total capital accounts. Approximately 39 percent of
the banks reported net earnings of more than $10.00 on each
$100 of total capital accounts. Percentage distributions of insured
commercial banks according to rate of net earnings and of net profits
on total capital accounts in 1938 and 1939 are shown in Table 27.
The distribution of insured commercial banks according to rate of
net earnings on total assets in 1939, and by amount of deposits, by
population of center in which located, and by number of banking
offices in center in which located, is presented in Table 142, page 184.



56

FEDERAL DEPOSIT INSURANCE CORPORATION

In 1939, as in preceding years, the proportion of banks with high
rates of net earnings on total assets was higher, and the proportion
of banks with low rates of net earnings and with net deficits was
lower, among the smaller banks. The same relationship existed with
respect to the rate of net profits on total assets. This relationship
is to be attributed to the tendency among the smaller banks to
hold a larger proportion of total assets in the form of loans and to
receive a higher average rate of income on loans than do larger banks.
The smaller banks are, in general, located in the smaller centers, and,
to a considerable extent, in agricultural rather than industrial sections
of the country.
In recent years the banks which reported net operating deficits
were generally the banks in which substandard asset ratios were
high and examiners' deductions were large; substandard asset ratios
were lower in the banks with net earnings. Among the latter there
was a slight, though not marked, tendency for the substandard asset
ratios to be higher in the banks with high net earnings than in the
banks with low net earnings. The tendency was particularly marked
in the case of securities but was not evident in the case of loans.
Detailed figures with respect to examiners' analysis of assets of insured
commercial banks, examined in 1939, grouped by rate of average
net earnings on total assets, are presented in Tables 130 and 131,
pages 158 to 165.
Net profits. During the first year of deposit insurance, banks
reported heavy net losses because they made substantial charge-offs
of assets considered to be worthless. With the elimination of these
assets, charge-offs declined and net profits tended to increase. Fluc­
tuations in net profits were substantial from year to year, however,
reflecting, in part, fluctuations in profits and losses on securities
arising from the efforts of many banks to supplement operating
income by speculating on price fluctuations in the bond market,
chiefly in high-grade bonds. In 1936, net profits of the banks reached
a high level for the six-year period as a result of unusually large
profits and recoveries on securities. In 1937 and 1938, net profits
declined substantially as losses on securities increased, while the
amount of recoveries on securities and of profits from security trading
was greatly reduced. In 1939, profits on securities increased sub­
stantially and net profits of the banks were higher than in any other
year of deposit insurance except 1936.

After making allowance for charge-offs and recoveries on assets
and for payment of income taxes, 9 percent of the insured commercial
banks operating throughout the year reported net losses, and an
additional 26 percent reported net profits of less than $5.00 on each
$100 of total capital accounts. About 28 percent reported net profits



57

EARNINGS OF INSURED COMMERCIAL BANKS

of more than $10.00 on each $100 of total capital accounts.
figures are shown in Table 27.
Table 27.
E a r n in g s

The

PERCENTAGE DISTRIB U TION OF B A N K S ACCORDING TO R A T E OF N E T
and

of

N

et

P r o f it s

on

T

otal

C a p it a l A

ccou nts,

1939

1938

and

INSURED COMMERCIAL BANKS
Net earnings

Net profits

1939

1938

1939

1938

100.0%

100.0%

100.0%

100.0%

.0
.1
.9

.0
.1
1.1

1.6
1.8
6.0

3.3
3.4
9.3

$0.00 to $4.99.......................................................................
$5.00 to $9.99.......................................................................
$10.00 to $14.99...................................................................

16.6
43.3
26.2

16.3
42.9
25.5

25.6
36.9
19.4

29.3
32.0
15.4

$15.00 to $19.99...................................................................
$20.00 or m ore......................................................................

9.2
3.7

10.1
4.0

6.2
2.5

5.2
2.1

All banks1 ................................................................................
Banks with net earnings (net profits) per $10C
of total capital accounts of— 2
$ - 10.00 or m ore...................................................................
$-5.00 to $ -9 .9 9 ...................................................................
$-0.01 to $ -4 .9 9 ...................................................................

1 Excludes new banks and banks submitting reports covering less than the full year’s operations or
materially affected by mergers.
2 Total capital accounts are average of figures for four call dates for banks members of the Federal
Reserve System, and of figures for three call dates for banks not members of the Federal Reserve System.

Net profits exceeded net earnings in about one-sixth of the banks,
were approximately the same as net earnings in over one-third
of the banks, and were less than net earnings in about one-half of the
banks. The distribution of insured commercial banks according to
rate of net earnings and by rate of net profits in 1939, is presented
in Table 144, page 186. The distribution of insured commercial
banks according to rate of net profits on assets in 1939 and by
amount of deposits, by population of center in which located, and
by number of commercial banking offices in center in which located,
is presented in Table 143, page 185.
Interest and dividends on preferred and common capital have
been relatively stable for the past four years, averaging about 3.5
percent of total capital accounts and about 7.5 percent of preferred
and common capital. Figures are shown in Table 26.
Insu red M

utual

S a v in g s B a n k s

On December 31, 1939, the Federal Deposit Insurance Corporation
was insuring deposits in 51 mutual savings banks, as compared with
48 at the end of the preceding year. Four operating banks, with
deposits of $370 million, were admitted to insurance, while one
institution, with deposits of $1.6 million, was absorbed by an insured
commercial bank with the financial aid of the Corporation. The
51 banks were located in 12 States.



58

FEDERAL DEPOSIT INSURANCE CORPORATION

Total deposits in the 51 banks amounted to $1.4 billion, of which
about 90 percent were estimated to be protected by insurance. Of
these banks, 16 had deposits of more than $10 million each. The
four largest banks held 54 percent of the deposits in the 51 banks.
Owing to the small number of banks, the data relating to the
insured mutual savings banks may not be characteristic of the con­
dition and operations of all mutual savings banks in the country.
Consolidated statements of assets, liabilities, and capital accounts
of both insured and noninsured mutual savings banks are presented
in Table 116, pages 125 and 127. Figures showing earnings, expenses,
and disposition of profits of insured mutual savings banks are pre­
sented in Table 155, page 204.







PART THREE
SPECIAL REPORTS




Sp e c i a l R e p o r t s

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 AND REGULATIONS







D e p o s it I n s u r a n c e L e g is l a t io n

REPEAL OF P R O V IS IO N R E Q U IR IN G C E R T A IN IN SU R E D B A N K S
T O B E C O M E M E M B E R S O F T H E FED ER A L RESER VE S Y S T E M
[P u b l i c —

No. 135— 76th C ongress]

[Chapter 214— 1st Session ]
[S. 1886]
AN ACT
To extend to June 16, 1942, the period within which certain loans to executive
officers of member banks of the Federal Reserve System may be renewed or
extended.
B e it enacted by the Senate and H ouse o f Representatives o f the United States o f
Am erica in Congress assembled, That the first sentence of subsection (g) of section 22
of the Federal Reserve Act, as amended (U. S. C., title 12, sec. 375a), is amended
to read as follows:
“ (g) No executive officer of any member bank shall borrow from or otherwise
become indebted to any member bank of which he is an executive officer, and no
member bank shall make any loan or extend credit in any other manner to any of
its own executive officers: Provided, That loans made to any such officer prior to
June 16, 1933, may be renewed or extended for periods expiring not more than five
years from June 16, 1939, where the board of directors of the member bank shall
have satisfied themselves that such extension or renewal is in the best interest
of the bank, and that the officer indebted has made reasonable effort to reduce his
obligation, these findings to be evidenced by resolution of the board of directors
spread upon the minute book of the bank: Provided further, That with the prior
approval of a majority of the entire board of directors, any member bank may extend
credit to any executive officer thereof, and such officer may become indebted thereto,
in an amount not exceeding $2,500.”
Sec . 2. Paragraph (1) of subsection (y) of section 12B of the Federal Reserve
Act, as amended, is hereby repealed and paragraph (2) of said subsection is amended
by striking out “ (2)” at the beginning of said paragraph.
Approved, June 20, 1939.




65

66

FEDERAL DEPOSIT INSURANCE CORPORATION

C o n g r e s s io n a l St u d y

of

N a t io n a l M

onetary

and

B a n k in g P o l ic y
S. RES. 125
[76th C o n g r e s s , F i r s t S e s s i o n ]
R E S O L U T IO N
Resolved, That the Committee on Banking and Currency is authorized to conduct
a study and to hold hearings to consider and recommend a national monetary and
banking policy by which the monetary and banking authorities of the Federal
Government shall be guided and governed, and to consider and recommend the
character of governmental machinery best calculated to carry out such policy.
The committee shall report to the Senate as soon as practicable the results of its
study, together with its recommendation for the enactment of any legislation it
may deem necessary.
S e c . 2. (a) For the purposes of this resolution the committee, or any duly au­
thorized subcommittee thereof, is authorized to hold such hearings, to sit and act
at such times and places during the sessions and recesses of the Senate in the Seventysixth Congress and subsequent Congresses as it deems advisable.

(b) The committee is likewise authorized to call upon any of the agencies of the
Government to present evidence with respect to the subject matter of this inquiry
which is within the administrative jurisdiction of such agency under existing law
or which may be assigned to such agency by the committee.
(c) The committee or any duly authorized subcommittee thereof is authorized
to employ such experts, and clerical, stenographic, and other assistants and to take
such testimony and make such expenditures as it deems advisable. The cost of
stenographic services to report such hearings as may be held shall not be in excess
of 25 cents per hundred words. The expenses of the committee which shall not
exceed $25,000 shall be paid from the contingent fund of the Senate upon vouchers
approved by the chairman of the committee.
Approved, August 4, 1939.




LEGISLATION AND REGULATIONS

R e g u l a t io n s

of

the

67

C o r p o r a t io n

PART 305— RECOGNITION OF DEPOSIT OWNERSHIP NOT ON
BANK RECORDS
Rulings and regulations of the Corporation regarding the recognition for deposit
insurance purposes of certain bank obligations, as adopted on October 1, 1935,
M ay 20, 1937, and July 1, 1938, were amended M ay 3, 1939, and became, respec­
tively, Parts 305.1, 305.2, and 305.3 of Chapter III, Title 12, of the Code o f Federal
Regulations. On June 20, 1939, the Board of Directors of the Corporation by
resolution added, and on December 13, 1939, amended Section 305.4 to Part 305
of the regulations. Regulation 305, as amended, is as follows:

Section 305.1 Deposits evidenced by negotiable instrum ents. If any
insured deposit obligation of a bank be evidenced by a negotiable certificate of
deposit, negotiable draft, negotiable cashier’s or officer’s check, negotiable certified
check or negotiable traveler’s check or letter of credit, the owner of such deposit
obligation will be recognized for all purposes of claim for insured deposits to the
same extent as if his name and interest were disclosed on the records of the bank
provided the instrument was in fact negotiated to such owner prior to the date
of the closing of the bank. Affirmative proof of such negotiation must be offered
in all cases to substantiate the claim.
305.2 Deposit obligations for payment of items forwarded for collection
by bank acting as agent. Where a closed bank has become obligated for the
payment of items forwarded for collection by a bank acting solely as agent the owner
of such items will be recognized for all purposes of claim for insured deposits to the
same extent as if his name and interest were disclosed on the records of the bank
when such claims for insured deposits, if otherwise payable, have been established
by the execution and delivery of prescribed forms. Such bank forwarding such
items for the owners thereof will be recognized as agent for such owners for the
purpose of making an assignment of the rights of such owners against the closed
insured bank to the Federal Deposit Insurance Corporation and for the purpose
of receiving payment on behalf of such owners.

305.3 Deposits of public officers. The owner of any portion of a deposit
appearing on the records of a closed bank under the name of a public official, state,
county, city, or other political subdivision will be recognized for all purposes of
claim for insured deposits to the same extent as if his name and interest were dis­
closed on the records of the bank: Provided, That the interest of such owner in the
deposit is disclosed on the records maintained by such public official, state, county,
city or other political subdivision and, Provided further, That such records have
been maintained in good faith and in the regular course of business.
305.4

Deposits of approved Federal Housing Administration mortgagees.

The owner of any portion of a deposit representing payments made under mortgages
insured by the Federal Housing Administrator and appearing on the records of
a closed bank under the name of an approved Federal Housing Administration
mortgagee or its agent will be recognized for all purposes of claim for insured de­
posits to the same extent as if his name and interest were disclosed on the records
of the bank: Provided, That the interest of such owner in the deposit is disclosed
on the records maintained by such mortgagee or its agent and, Provided further,
That such records have been maintained in good faith and in the regular course
of business.




68

FEDERAL DEPOSIT INSURANCE CORPORATION

PART 307— INSURANCE OF TRUST FUNDS
On July 8, 1939, the Corporation adopted a resolution regarding the insurance
of trust funds which became Part 307 of Chapter III, Title 12, of the Code o f Federal
Regulations. This resolution is given below:

Section 307.1 Claim by fiduciary insured bank for insured deposits of
trust estates. In the event of the closing of an insured bank for inability to meet
the demands of its depositors, the claim for insured deposits made by a fiduciary
insured bank which, in the exercise of its trust powers, had deposited trust funds
therein will be determined as follows:

(a) Allocated funds of a trust estate. If trust funds of a particular trust
estate are allocated by the fiduciary and deposited, the deposit with respect to such
estate will be determined by ascertaining the amount of its funds allocated, deposited
and remaining to the credit of the claimant as fiduciary in the closed insured bank.
(b) Interest of a trust estate in unallocated trust funds. If trust funds
of a particular trust estate be mingled1 with trust funds of other trust estates and
deposited by the fiduciary bank in one or more banks to the credit of the depositing
bank as fiduciary, without allocation of specific amounts from the particular trust
estate to an account in such bank or banks, the deposit with respect to such estate
in any closed insured bank will be the amount which will bear the same ratio to all
unallocated funds of the estate for which the fiduciary is accountable as the entire
unallocated trust funds to the credit of the fiduciary bank in the closed insured
bank will bear to the entire amount of such funds so deposited by the fiduciary in
all depositories.2
(c) Claims for funds of corporate trusts determined on basis of allocation.
The rule stated in paragraph (b) hereof will not be applied to funds of an insured
bank held as fiduciary under a type of trust created to facilitate the issuance,
distribution, or servicing of corporate bonds, debentures or stock issues, commonly
known as corporate trusts. The claim of the fiduciary bank with respect to deposits
of such funds will be determined according to allocations of the funds of particular
estates to particular deposit accounts.

(d) Insured deposit of a trust estate. In arriving at the total insured deposit
of an insured fiduciary bank with respect to any trust estate, the deposit of such
estate as determined in accordance with any paragraph hereof shall be combined
with that determined under any other paragraph and the insured deposit shall
be the total less any amount thereof in excess of $5,000.
1 This Section is not to be construed as an express or implied approval of such commingling of trust
funds as may be involved in the maintaining of general trust accounts.
2 In determining claims under this paragraph, unallocated trust funds in the insured fiduciary
bank will be included in the totals of such funds.




PART FIVE
STATISTICS OF BANKS AND DEPOSIT INSURANCE







E X P L A N A T O R Y N O TE S

Sources of Data
Data relating to national banks and State banks in the District of Columbia
were obtained from the Comptroller of the Currency or the Board of Governors
of the Federal Reserve System, and data relating to State banks members of the
Federal Reserve System from the Board of Governors of the Federal Reserve
System, with the following exceptions: (1) capital investment of the Reconstruction
Finance Corporation in banks members of the Federal Reserve System, which
was obtained from that Corporation; (2) analysis of examinations, the data of which
were compiled by this Corporation from reports submitted by the Comptroller
of the Currency and the Board of Governors of the Federal Reserve System and
reviewed by the Corporation; and (3) data relating to suspensions, receiverships,
and mergers with aid of loans from the Federal Deposit Insurance Corporation,
which were obtained from the records of the Corporation.
Data relating to insured banks not members of the Federal Reserve System were
obtained from the banks themselves or from the records of the Federal Deposit
Insurance Corporation.
Data relating to noninsured banks were obtained from the Board of Governors
of the Federal Reserve System, State banking authorities, Rand McNally Bankers
D irectory, and Polk’s Bankers Encyclopedia.

Classification of Banks and Banking Offices
Insured banks include all operating 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 banks and trust com­
panies, 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
Hampshire;

savings

banks,

excluding guaranty

savings

banks

in

New

Banks in conservatorship or operating under restrictions, provided they
are authorized to and in fact do accept new deposits, regardless of the char­
acter 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;




71

72

FEDERAL DEPOSIT INSURANCE CORPORATION
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).

M utual savings banks include all banks operating under special State banking
codes applying to mutual savings banks, including all guaranty savings banks in
New Hampshire.
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, as amended, which is
as follows:
“ The term ‘branch’ includes any branch bank, branch office,
agency, additional office, or any branch place of business located
State of the United States or in Hawaii, Alaska, Puerto Rico,
Virgin Islands at which deposits are received or checks paid or
lent.”

branch
in any
or the
money

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 ceased to accept new
deposits and are proceeding to liquidate their assets and pay off existing
deposits, regardless of the amount of deposit liability still remaining and
regardless of whether they are listed among operating banks or included in
abstracts of 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 incorporation laws, re­
gardless 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 oper­
ating 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
ot accept deposits from the general public.




EXPLANATORY NOTES

73

Deposits of Banks and Banking Offices
Operating insured banks. Deposit data for operating insured banks are
obtained from two separate sources. (1) Deposit figures in Tables 111 to 122,
inclusive, and used for classifying insured banks by size groups in Tables 105 to
109, inclusive, are from reports of condition submitted by the banks for the dates
indicated; and deposit figures in Tables 149 to 154, inclusive, are averages of the
figures from reports of condition for call dates. (2) Deposit figures in Tables 126
to 135, inclusive, and in Table 139, summarizing the reports of examinations of
banks, are for the respective dates on which each bank was examined.
Deposit liabilities reported on certified statements for assessment purposes
include, in addition to the deposits shown on reports of condition, outstanding
drafts and uninvested trust funds held in the bank’s own trust department, and
exclude a portion of cashiers’ and officers’ checks outstanding. It is estimated
that total deposit liabilities for assessment purposes exceed total deposits shown
on reports of condition by less than 2 percent. Deposits shown in reports of
examination are defined in the same way as those shown on reports of condition.
In adjusting figures for examiners’ appraisals, deposit liabilities not shown on the
banks’ books are added to deposits shown on the books.

Offices of insured banks operating branches. Deposits for branches and
head offices of banks operating branches in Table 111, and used in classifying such
offices by size in Table 105, are from special reports by banks operating branches.
Total deposits for each branch system correspond to the deposit figure shown on the
bank’s report of condition.
Noninsured banks. Deposits of noninsured banks are from published figures
or from reports received from State banking authorities, and are based on reports
of condition submitted by the banks to State authorities or to bankers’ directories.
Figures refer to June 30 and December 31 or nearest available dates.
Figures for branches and head offices of noninsured banks operating branches
are not available separately.

Suspended and merged banks and banks in receivership. Deposit figures
for insured banks in Tables 156 to 166, inclusive, relating to suspensions, receiver­
ships, and mergers with the aid of loans from the Corporation, are from the records
of the Corporation with respect to such banks, and refer to the date of suspension
or merger. Deposits for banks in receivership as shown by the books of the Cor­
poration, December 31,1939, given in Tables 167 and 168, inclusive, differ from those
shown by books of bank at date of suspension given in Table 166 because of reclassi­
fication of liabilities and discovery of additional liabilities during liquidation.

Assets and Liabilities of Operating Banks
Figures relating to assets and liabilities of insured banks, in Tables 116 to 122,
inclusive, are from reports of condition submitted to the Federal supervisory au­
thorities by the banks: to the Comptroller of the Currency by national banks,
to the Board of Governors of the Federal Reserve System by State banks members
of that system, and to the Federal Deposit Insurance Corporation by insured
State banks not members of the Federal Reserve System. The form and manner
of reporting is uniform for the three classes of banks.
Assets and liabilities of noninsured banks are from published figures or from
reports received from State banking authorities, and are based on reports of con­
dition submitted by the banks to State authorities or to bankers’ directories.




74

FEDERAL DEPOSIT INSURANCE CORPORATION

Examiners’ Analysis of Insured Banks
Tables 126 to 135, inclusive, relating to the examiners’ analysis of assets and
capital of insured banks, contain detailed data with respect to all insured commercial
banks in 1939, on a basis comparable to those presented for insured commercial
State banks not members of the Federal Reserve System only in preceding years.
Figures relating to the banks not members of the Federal Reserve System covering
the period 1933 to 1939 are presented in Tables 136 to 139, inclusive. The examina­
tion procedures of the Federal bank supervisory authorities and of numerous
State banking authorities were revised in 1938 so that data for 1939 are not strictly
comparable with data for 1937 and earlier years. Data for insured commercial
State banks not members of the Federal Reserve System are shown for 1938 on
both the original and the uniform or revised basis.1
Data are derived from the reports of examination made by the Comptroller of
the Currency in the case of national banks, by the Federal Reserve banks in the
case of State banks members of the Federal Reserve System, and by the Federal
Deposit Insurance Corporation in the case of State banks not members of the Federal
Reserve System. The tabulations were prepared from examinations available
for tabulation during the year and not from all examinations made during the year.
In cases in which 1939 examinations were not made or were not available, figures
for banks examined in the closing months of 1938 were included in the 1939 tabula­
tions. Figures for about 100 banks operating during the year were not included
in the tabulations, since reports of examination were, for various reasons, not availa­
ble for tabulation.
The principal terms and methods of adjustment used, under the uniform pro­
cedure, in the tables relating to examiners’ analyses of bank assets and capital
accounts are described below.

Book value, applied to total assets, loans, securities, and fixed and miscellaneous
assets, refers to the values (net, after deduction of valuation allowances) carried
by each bank on its books at the time of examination.
Appraised value of total assets, loans, securities, and fixed and miscellaneous
assets, represents the value of assets as determined by the examiners. For expla­
nation of method of valuing securities see the A nn ual R eport o f the Federal
D eposit Insurance Corporation for the year ending December 3 1 ,1 9 3 8 , pages 64 to 68.
The term “ appraised value” corresponds in meaning to the term “ adjusted value”
used in the Annual Report of the Corporation for 1938, and to the term “ net
sound value” used in the Annual Reports of the Corporation for 1935 and 1934.
Examiners’ deductions (net) from assets represent the amount by which
the examiners’ evaluation of each bank’s assets is less than the value carried by the
bank on its books.
The deductions are derived from the examiners’ evaluation of the assets classified
on the basis of eventual collectibility. In the case of assets other than securities,
the examiner deducts: (1) the amount of, or the portion of, loans and other assets
regarded, for reasons which he sets forth, as worthless or uncollectible, and (2)
one-half of the amount of, or the portion of, loans and other assets regarded as
of doubtful worth or collectibility. In the case of securities, the examiner deducts:
(1) the amount by which the book value (less valuation allowances) exceeds the
market value of stocks and defaulted securities; (2) one-half of the amount by which
1 For a discussion of the differences between the uniform procedure and the procedure previously
followed by the Corporation in analyzing and valuing assets in examination reports, see the Annual Report
of the Federal Deposit Insurance Corporation for the year ending December 31, 1938, pages 61 to 78.




EXPLANATORY NOTES

75

the book value (less valuation allowances) of substandard securities exceeds the
average of market prices over the 18-months preceding the month of examination;
and (3) the amount by which book value (less valuation allowances) exceeds cost
less amortization of other (uncriticized) securities. The amounts of the deductions
are reduced by the determinable sound values of assets not shown on the books.

Examiners’ deductions (net) from total capital accounts represent the
amount by which the examiners’ evaluation of each bank’s total capital accounts
(net worth) is less than the value carried by the bank on its books. It exceeds
examiners’ deductions (net) from assets by the amount of determinable liabilities
not shown on the books.
Substandard, applied to total assets, loans, securities, and fixed and miscel­
laneous assets, represents the appraised value of all assets regarded as involving
a substantial or unreasonable degree of risk, and hence undesirable or hazardous
for bank investment. It includes the value of assets in Classification II and 50
percent of the value of assets in Classification III.1 The appraised value of sub­
standard assets also represents the book value of all criticized assets less examiners’
deductions (net) on such assets. The term “ substandard” corresponds in meaning
to the term “ slow” used in the Annual Reports of the Corporation for 1936, 1935,
and 1934, except in the case of securities and total assets.
Fixed and substandard assets includes that portion of fixed assets not criticized
as well as all substandard assets. Fixed assets consist of banking house, furniture
and fixtures, and other real estate.
Total capital accounts, or book value of capital accounts, refers to the
“ net worth” or equity of stockholders (including holders of capital notes and
debentures) in each bank as carried by the bank on its books at the time of ex­
amination.
Net sound capital represents total capital accounts less examiners’ deductions
(net) from capital; and is the examiners’ evaluation of the net worth or equity of
stockholders (including holders of capital notes and debentures) in each bank. The
retirable value of R. F. C. capital is used to determine the amount of net sound
private capital, so that the latter differs from book value of private capital accounts
by the excess of retirable value of R. F. C. capital over book value as well as by the
examiners’ deductions (net) from total capital accounts. The term “ net sound
capital” corresponds in meaning to the term “ adjusted capital account” used in
the Annual Report of the Corporation for 1938, to the term “ net capital account”
used in the Annual Report of the Corporation for 1937, and to the term “ sound
capital” used in the Annual Report of the Corporation for 1936.
The amount of R. F. C. capital in banks may correspond to any one of three
values: the par or face value; the book value, which is normally the same as par
value but may be less; and the retirable value. The latter is the same as the
investment of the Reconstruction Finance Corporation shown in Tables 123 to 125,
inclusive.

Deposits, in all cases, represent deposits at the date of the examination.
Adjusted deposits and adjusted liabilities include, in addition to liabilities
shown on the books of the bank, those not shown, but determined by the examiner
to exist.
1 See the Annual Report of the Federal Deposit Insurance Corporation for the year ending December SI,
1938, pages 76 to 78, particularly Table 40.




76

FEDERAL DEPOSIT INSURANCE CORPORATION

Average net current operating earnings, in general, represents the average
of net current operating earnings for the prior 3-year period; and the figure for
total assets to which it is related is the monthly average for the 3-year period
immediately prior to the examination. In the case of banks operating for one
year or more but less than three years, averages are for calendar years of operations.
In a number of cases, the assets are as of the date of the examination.
Irregularity in individual item s. Items referred to in footnote 5 of Table 127
and footnote 2 of Table 131, as well as the dollar figures in the corresponding tables,
are strongly affected by the figures of two banks:
(a) One bank with (i) R . F. C. investment of about $7.5 million, (ii) net sound
capital of from $30 to $35 per $100 of appraised value of assets, (iii) fixed and
substandard assets of more than $35 per $100 of appraised value of assets, (iv)
3-year average net earnings of $0.68 per $100 of total assets, and (v) deposits on
the date of examination of between $10 million and $50 million.
(b) One bank with (i) $10 million in securities (stocks) not shown on the books,
(ii) net sound capital of more than $35 per $100 of appraised value of assets, (iii)
fixed and substandard assets of $30 per $100 of appraised value of assets, (iv) 3-year
average net earnings of $2.92 per $100 of total assets, and (v) deposits on the date
of examination of between $10 million and $50 million.

The Federal Deposit Insurance Corporation Districts serve the following
territories:

District

1

Maine, New Hampshire,
Island, Connecticut.

Vermont,

Massachusetts,

Rhode

District

2

New York, New Jersey, Delaware, Puerto Rico, Virgin Islands.

District

3

Ohio, Pennsylvania.

District

4

Maryland, District of Columbia, Virginia,
North Carolina, South Carolina.

W est

District

5

Georgia, Florida, Alabama, Mississippi, Louisiana.

District

6

Virginia,

Kentucky, Tennessee, Missouri, Arkansas.

District

7

Indiana, Michigan, Wisconsin.

District

8

Illinois, Iowa.

District

9 ...

Minnesota, North Dakota, South Dakota, Montana.

District 10

Nebraska, Kansas, Oklahoma, Colorado, Wyoming.

District 11

Texas, New Mexico, Arizona.

District 12

Idaho, Utah, Nevada, Washington, Oregon, California, Alaska,
Hawaii.

Earnings, Expenses, and Disposition of Profits of Insured Banks
Reports of earnings and dividends of banks members of the Federal Reserve
System are submitted semi-annually on a six-months, basis 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 that system. Reports of insured
State banks not members of the Federal Reserve System are submitted to the
Federal Deposit Insurance Corporation on an annual basis at the close of each
calendar year. As a result, the figures relating to earnings of all insured banks,
presented in Tables 140 and 141, include figures for the first half of the year of
banks which were members of the Federal Reserve System on June 30, for the last




EXPLANATORY NOTES

77

half of the year of banks which were members of the Federal Reserve System on
December 31, and for the full year, or such part as they were in existence, of insured
State banks not members of the Federal Reserve System on December 31. As a
consequence, in the case of banks withdrawing from membership in the Federal
Reserve System during the last half of the year but continuing insurance, figures
for the first half of the year are included as banks members and for the entire year
as banks not members of the Federal Reserve System. In the case of insured
banks not members of the Federal Reserve System joining that system during the
last half of the year, earnings for only the last half of the year are included. The
figures for number of banks appearing in the tables represent the number at the
close of the year indicated.

Banks operating throughout the year. The figures relating to earnings
of insured banks, presented in Tables 142 to 147, inclusive, and to earnings of
insured banks not members of the Federal Reserve System, given in Tables 149 to
154, inclusive, are based only upon banks operating throughout the year whose
operations were not materially affected by mergers, consolidations, or other corporate
changes. Figures for banks commencing operations during the year, reporting
earnings for less than the full year, or materially affected by mergers or consolida­
tions have been excluded. In the case of banks members of the Federal Reserve
System the earnings of each individual bank for the first half-year and the second
half-year have been combined.
Asset and liability averages. The ratios of earnings and dividends, presented
in Table 140, are based upon the averages of the total assets of all insured banks
reporting on the call dates specified; such asset averages include figures for banks
which reported on one call date but not on another because they became insured
during the year or were in operation only part of the year. No duplications in the
asset figures exist because of changes in class of insured bank during the period.
The ratios presented in Tables 142 to 147, inclusive, and in Tables 151 to 154,
inclusive, are based upon averages of assets and liabilities for the identical banks
to which the earnings data pertain. The asset and liability averages are derived
from four call dates for banks members of the Federal Reserve System, viz: March
29, 1939, June 30, 1939, October 2, 1939, and December 30, 1939; and from three
call dates for banks not members of the Federal Reserve System, viz: December 31,
1938, June 30, 1939, and December 30, 1939.
Depreciation. Data relating to national banks and to State banks members
of the Federal Reserve System given in Tables 140 and 141 differ from those pub­
lished by the Comptroller of the Currency and the Board of Governors of the Federal
Reserve System, due to the classification in those tables of all reported depreciation
on banking house, furniture and fixtures under current operating expenses. Such
depreciation is shown by the Comptroller of the Currency and the Board of Gov­
ernors 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 classified under current operating expenses;
extraordinary charge-offs of banking house, furniture and fixtures are included
with “ losses, charge-offs, and additions to valuation allowances.”

Interest on tim e and savings deposits. The amount of interest on time and
savings deposits paid by insured banks not members of the Federal Reserve System
in 1936, given in Tables 140 and 148, is believed to be overstated by $1 million
to $1.5 million due to errors of reporting. The decrease in this item from 1936
to 1937, therefore, probably reflects in part the error in the preceding year.




78

FEDERAL DEPOSIT INSURANCE CORPORATION

Earnings of insured commercial banks not members of the Federal
Reserve System for 1935. Figures for 1935, shown in Table 148, are not com­
parable to those for subsequent years because of a difference in reporting of income
taxes and depreciation. For that year ‘ ‘income taxes” are included in “ taxes
(other than on income)” as a part of current operating expense. Beginning with
1936, they are classified separately as a deduction from net profits. All depreciation
on banking house, furniture and fixtures is included in “ other expenses of occupancy
and maintenance of banking quarters” under current operating expenses in 1935.
In later years, extraordinary non-recurring “ depreciation on banking house, furni­
ture and fixtures” is included under “ losses, charge-offs, and additions to valuation
allowances.” “ Profits on other assets sold or exchanged” were included with re­
coveries in 1935.

Suspensions, Receiverships, and Mergers
The figures for deposits which appear in Tables 156 to 161, inclusive, and for
disbursements which appear in Tables 157 and 160 are calculated by rounding the
figures for each bank to thousands of dollars. Totals appearing in these tables,
therefore, in some cases do not agree exactly with totals appearing in Tables 162
and 166.
Differences between the number of insured banks suspended or merged with the
aid of loans from the Corporation, as shown in Table 103 or in the corresponding
tables in previous Annual Reports, and as shown in Tables 156 to 162, inclusive,
and differences between the number of insured banks suspended and the number
placed in receivership, are due to differences in the classifications employed and to
particular circumstances connected with some of the cases involved.
In the case of suspended banks covered by Table 156, in 1936 one bank was
classified as a “ suspended bank succeeded by another bank in same class” in Table
102 of the Annual Report for that year; in 1937, one bank was classified as “ non­
insured bank succeeding national bank suspended,” and three banks were classified
as “ banks suspended and reopened,” in Table 102 of the Annual Report for that
year.
Of banks merged with financial aid of the Corporation covered in Table 157,
19 were treated as follows in the table of changes in the number of banks (Table
103 of this report, and Table 102 in the Annual Reports for 1936, 1937, and 1938):
In 1936, five banks were classified among “ successions not involving changes
in number and classification;”
In 1937, two banks were classified among “ changes in classification among
insured banks,” and three banks among “ successions and reopenings not involv­
ing changes in number or class;”
In 1938, one bank was classified among “ suspended banks not reopened
or succeeded” and one among “ changes in title;”
In 1939, three banks were classified as “ successions” not affecting the number
in any class, one was classified among “ changes in title and location,” and
three were excluded because they continued operations under their old charters
and names after being merged with other banks to which loans were also made.
The insured banks which received financial aid from the Federal Deposit In­
surance Corporation, shown in Tables 158 and 161, include the banks merged with
aid of loans from the Corporation (Tables 157, 160, and 162) and the banks placed
in receivership (Tables 164 to 168).




79

EXPLANATORY NOTES

Differences between the number and deposits of insured banks included in
receiverships and the number and deposits of insured banks which suspended are
due to the cases listed below.
Year of
closing

Case

but

Class

1935
1937
1937
1937
1938

Oklahoma
Kentucky
Tennessee
Iowa
Illinois

N ot member
N ot member
N ot member
National
N ot member

FRS

$85,000
206,000
122,000
3.594.000
2.795.000

1935
1937

Included in suspensions
in receiverships:

State

Texas
Maryland

N ot member FRS
N ot member FRS

219.000
669.000

Michigan

N ot member FRS

64,000

Tennessee

N ot member FRS

278,000

Deposits

not

Merged with aid of loan from F D I C .
Receiverships not in sam e year as1
suspensions:

Included in receiverships but not inL
suspensions of insured banks:
Voluntary liquidation listed among
receiverships (depositors paid by
F D I C )..................................................... 1937
Noninsured bank with insured deposits5
at
date of suspension (insured1
L
status having been terminated prior
1938

FRS
FRS
FRS

35
126

All banks included in Tables 156 to 168, inclusive, are commercial banks with
the exception of two mutual savings banks. The data concerning these two mutual
savings banks are as follows:
Year of
closing

State

Class

Included in suspensions and in re­
ceiverships ............................................ 1938

Vermont

N ot member FRS

Included in banks merged with the
financial aid of F D I C ......................... 1939

Indiana

N ot member FRS




Deposits
$2,479,000

Case
number
157

1,584,000 .........

00

o

NUMBER OF BANKING OFFICES
Table 101.

N

umber

AND CLASSIFICATION OF OPERATING BANKING OFFICES, DECEMBER

31, 1935-19391

United States excluding possessions

United States including possessions
D ec. 31,
1936

Dec. 31,
1937

D ec. 31,
1938

Dec. 31,
1939

D ec. 31,
1935

D ec. 31,
1936

D ec. 31,
1937

Dec. 31,
1938

Dec. 31,
1939

N oninsured............................................................................

19,312
17,328
1,984

19,203
17,297
1,906

19,050
17,241
1,809

18,905
17,133
1,772

18,778
17,069
1,709

19,218
17,324
1,894

19,109
17,290
1,819

18,958
17,234
1,724

18,813
17,126
1,687

18,687
17,062
1,625

All b a n k s ..............................................................................
Insured...............................................................................
N oninsured.......................................................................

15,940
14,182
1,758

15,714
14,029
1,685

15,444
13,853
1,591

15,257
13,709
1,548

15,085
13,589
1,496

15,904
14,179
1,725

15,679
14,025
1,654

15,430
13,849
1,561

15,223
13,705
1,518

15,049
13,585
1,464

All b r a n c h e s .......................................................................
Insured...............................................................................
N oninsured.......................................................................

3,372
3,146
226

3,489
3,268
221

3,606
3,388
218

3,648
3,424
224

3,693
3,480
213

3,314
3,145
169

3,430
3,265
165

3,548
3,385
163

3,590
3,421
169

3,638
3,477
161

18,622
17,265
6,721+
1,956
8,585
1,357

18,516
17,234
6,733
2,03k
8,1+67
1,282

18,364
17,178
6,71+8
2,075
8,355
1,186

18,220
17,073
6,727
2,106
8,21+0
1,147

18,095
16,994
6,710
2,177
8,107
1,101

18,528
17,261
6,721+
1,956
8,581
1,267

18,422
17,227
6,733
2,031+
8,1+60
1,195

18,272
17,171
6,74,8
2,075
8,31+8
1,101

18,128
17,066
6,727
2,106
8,233
1,062

18,004
16,987
6,710
2,177
8,100
1,017

15,374
14,126
5,386
1,001
7,739
1,248

15,151
13,973
5,325
1,051
7,597
1,178

14,882
13,797
5,260
1 .081
7,1+56
1,085

14,703
13,661
5,221+
1 ,111+
7,323
1,042

14,534
13,538
5,187
1,1 75
7,176
996

15,338
14,123
5,386
1,001
7,736
1,215

15,116
13,969
5,325
1,051
7,593
1,147

14,848
13,793
5,260
1,081
7,1+52
1,055

14,669
13,657
5,221+
1,111+
7,319
1,012

14,498
13,534
5,187
1,175
7,172
964

14,518
13,312
5,198
856
7.258
1,206

14,257
13,119
5,128
898
7,093
1,138

13,958
12,912
5,06^
922
6,926
1,046

13,764
12,762
5,028
958
6,781
1,002

13,579
12,625
l+,990
1,010
6,625
954

14,494
13,310
5,198
856
7,256
1,184

14,233
13,117
5,128
898
7,091
1,116

13,935
12,910
5,061+
922
6,921+
1,025

13,741
12,760
5,028
953
6,779
981

13,554
12,623
l+,990
1 ,010
6,623
931

FEDERAL

Dec. 31,
1935

ALL BANKING OFFICES

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

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




CORPORATION

N oninsured.......................................................................

INSURANCE

Members F . R. System: national..............................
Members F. R. System: State....................................

DEPOSIT

COMMERCIAL BANKING OFFICES

Banks operating bran ches..................................
Insured......................................................................
Members F . R. System: national.....................
Members F. R. System: State..........................
Not members F. R. System...............................
N oninsured..............................................................

856
814
188
1U5
k81
42

894
854
197
153
501+
40

924
885
196
159
530
39

939
899
196
161
5k2
40

955
913
197
165
551
42

844
813
188
lk5
k80
31

883
852
197
153
502
31

913
883
196
159
528
30

Branches..........................................................................
Insured...............................................................................
Members F. R. System: national.........................
Members F. R. System: State...............................
Not members F . R. System...................................
N oninsured...................................................................

3,248
3,139
1,338
955
8J+6
109

3,365
3,261
l,k08
983
870
104

3,482
3,381
1,U88
99k
899
101

3,517
3,412
1,503
992
917
105

3,561
3,456
1,523
1,002
931
105

3,190
3,138
1,338
955
8k5
52

3,306
3,258
1 ,k08
983
867
48

3,424
3,378
1 ,k88
99k
896
46

3,459
3,409
1,503
992
91k
50

3,506
3,453
1,523
1,002
928
53

All offices of banks operating branches........
Insured......................................................................
Members F. R. System: national.....................
Members F. R. System: State..........................
Not members F. R. System...............................
N oninsured..............................................................

4,104
3,953
1,526
1,100
1,327
151

4,259
4,115
1,605
1,136
1 ,37k
144

4,406
4,236
1,68k
1,153
l,k29
140

4,456
4,311
1,699
1,153
l,k59
145

4,516
4,369
1,720
1,167
1,182
147

4,034
3,951
1,526
1,100
1,325
83

4,189
4,110
1,605
1,136
1,369
79

4,337
4,261
1 ,68k
1 ,153
1 ,k2k
76

4,387
4,306
1,699
1,153
l,k5k
81

4,450
4,364
1,720
1,167
l,k77
86

Banking offices.................................................................
Insured...............................................................................
N oninsured.......................................................................

690
63
627

687
63
624

686
63
623

685
60
625

683
75
608

690
63
627

687
63
624

686
63
623

685
60
625

683
75
608

Banks2...............................................................................
Insured..........................................................................
N oninsured...................................................................

566
56
510

563
56
507

562
56
506

554
48
506

551
51
500

566
56
510

563
56
507

562
56
506

554
48
506

551
51
500

Unit b ank s.................................................................
Insured......................................................................
N oninsured..............................................................

438
52
436

4S5
52
433

485
52
433

475
44
431

471
43
428

488
52
436

485
52
433

485
52
433

475
44
431

471
43
428

Banks operating branches............. .................
Insured......................................................................
N oninsured..............................................................

78
4
74

78
4
74

77
4
73

79
4
75

80
8
72

78
4
74

78
4
74

77
4
73

79
4
75

80
8
72

Branches..........................................................................
Insured..........................................................................
N oninsured...................................................................

124
7
117

124
7
117

124
7
117

131
12
119

132
24
108

124
7
117

124
7
117

124
7
117

131
12
119

132
24
108

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

202
11
191

202
11
191

201
11
190

210
16
194

212
32
180

202
11
191

202
11
191

201
11
190

210
16
194

212
32
180

928 1
897
196
161
5k0
31

944
911
197
165
5k9
33

NUMBER
O
F

MUTUAL SAVINGS BANKING OFFICES

BANKING
OFFICES

1 For explanation of classification of banking offices, see pages 71-72.
2 N ot members of the Federal Reserve System.




00

Table 102.

A n a ly s is

OF A d m is s io n s TO AND TERMINATIONS OF INSURANCE IN EACH CLASS OF BA N K ,
1935

1934-1939

Total

1934-1939

1936

1934

1937

1938

1939

J a n .1 - Aug. 2 3Aug. 22 D ec. 31

A LL BANKS
14,219
13,589

113,201
14,217

14,217
14,219

14,219
14,182

14,182
14,029

14,029
13,853

13,853
13,709

13,709
13,589

A d m issio n s n o t d ire ctly o ffse t b y te rm in a tio n s-—t o t a l ................................

1,927

1,624

303

1,430

194

42

83

82

48

48

Banks operating, or with direct predecessors operating, when deposit insur­
ance became effective:
Banks of deposit operating January 1, 1934, not previously insured, or
successors to such banks2...................................... ..............................................
Banks previously insured, or successors to such banks3.................................
Financial institutions operating January 1, 1934, but not engaged in de­
posit banking, or successors to such institutions4. ......................................

499
17

405
2

94
15

355
1

50
1

14
3

33
4

25
1

11
2

11
5

1

2

3

3

3

Banks in conservatorship or operating under restrictions, or in receivership
or liquidation, when deposit insurance became effective:
Successors to or reorganizations of banks in conservatorship or operating
under restrictions5.................................................................................................
Successors to or reorganizations of banks in receivership or in process of
liquidation6..............................................................................................................

1,006

989

17

921

68

5

6

2

4

86

76

10

60

16

5

3

1

1

Banks organized and opened since deposit insurance became effective:
Banks opened and admitted to insurance in the same calendar y e a r.........
Banks opened since January 1, 1934, prior to year of admission to insur­
ance, or successors to such b an k s....................................................................

278

142

136

93

49

14

32

45

21

29

10

19

3

5

6

5

A d m issio n s d ire ctly o ffset b y t e r m in a tio n s — t o t a l ........................................

717

248

469

193

55

23

120

117

78

131

Banks succeeding other banks in same class7........................................................
Banks succeeding other insured banks not in same class7.................................
Readmissions of banks which had suspended and reopened or had withdrawn
from insurance...........................................................................................................
Admissions to insurance of banks withdrawing from F . R . System ...............
Admissions of insured banks to F . R . System8.....................................................

131
155

71
41

60
114

53
30

18
11

3
6

15
30

18
35

8
18

16
25

6
28
397

1
6
129

5
22
268

1
3
22

2

3
107

12

1
6
68

2
6
56

5
47

5
85

T e r m in a t io n s n o t d ir e c tly o ffs e t b y a d m is s io n s — t o t a l ...............................

1,539

605

934

414

191

80

236

258

192

168

Banks suspended or merged with financial aid from FD IC :
Suspended banks not reopened or succeeded....................................................
Banks merged with financial aid of F D IC — net reduction...........................

204
85

24

180
85

9

15

9

40
22

50
20

49
22

32
21




12

12

10

24

CORPORATION

13,201
14,219

INSURANCE

113,201
13,589

DEPOSIT

N u m b e r in s u re d a t b e g in n in g o f p e r i o d .............................................................
N u m b e r in su re d a t end o f p e r i o d ..........................................................................

FEDERAL

Under
Under
tempor­ perma­
ary plan nent plan

Other terminations:
Withdrawals from insurance of operating banks (excluding those read­
m itted during same y e a r )..................................................................................
Banks absorbed b y, succeeded b y , or consolidated with noninsured banks.
Banks absorbed b y or consolidated with other insured banks without
financial aid of F D IC — net reduction.............................................................
Other liquidations.............................. ...................................................................
Insured status terminated b y F D I C 9.................................................................

3
2

60
11

139
31

150
36
1

77
37
2

90
25

56

22

120

117

78

131

3
6
1

18
35
2
6
56

16
25

12

15
30
1
6
68

8
18

3
107

18
11
2
3
22

5
47

5
85

5,419
5,187

5,153
5,462

5,462
5,419

5,419
5,386

5,386
5,325

5,325
5,260

5,260
5,224

5,224
5,187

401

21

385

16

3

7

7

1

3

10

8

2

8

1

1

339

339

336

3

13

13

10

3

Banks organized and opened since deposit insurance became effective:
Banks opened and admitted to insurance in the same calendar yea r.........

60

41

19

31

10

2

6

7

1

3

Adm issions directly offset by term inations— to ta l........................................

140

81

59

69

12

3

12

22

7

15

Banks succeeding other banks in same class7........................................................
Banks succeeding other insured banks not in the same class7...........................
Readmission of bank which had suspended and reopened.................................

58
81

51
30

7
51
1

44
25

7
5

3

2
10

2
19
1

1
6

2
13

T erm inations not directly offset by admissions— to ta l...............................

396

155

241

97

58

35

59

75

31

41

Banks suspended or merged with financial aid from F D IC :
Suspended banks not reopened or succeeded....................................................
Banks merged with financial aid of F D IC — net reduction...........................

12

4

8
16

1

3

1
1

2
7

1
4

4
4

50
7

57
8

23
3

26
7

4
6

191
6

33
8

783
216
3

267
76

516
140
3

172
36

95
40

Terminations directly offset by admissions— to ta l........................................

717

249

468

193

Banks succeeded b y other banks in same class....................................................
Banks succeeded by other insured banks not in same class..............................
Suspended banks, or banks withdrawing from insurance, readmitted............
Banks withdrawing from F . R . System and admitted to insurance...............
Insured banks admitted to F . R . System8.............................................................

131
155

60
114
4
22
268

53
30

28
397

71
41
2
6
129

N um ber insured at beginning of period.............................................................
N um ber insured at end of period..........................................................................

5,153
5,187

5,153
5,419

Adm issions not directly offset by term inations—to ta l................................

422

Banks operating, or with direct predecessors operating, when deposit insur­
ance became effective:
Successors to banks operating but not insured January 1, 1934.................

6

N A T IO N A L B A N K S M E M B E R S OF T H E F E D E R A L R ESE RV E SYSTEM




16

11

10

1

5

5

302
55

113
28

189
27

75
16

38
12

1
33
2

OFFICES

Other terminations:
Banks absorbed b y , succeeded b y , or consolidated with noninsured banks
Banks absorbed by or consolidated with other insured banks without
financial aid of F D IC — net reduction.............................................................
Other liquidations.....................................................................................................

1

BANKING

Banks in conservatorship or operating under restrictions, or in receivership
or liquidation, when deposit insurance became effective:
Successors to or reorganizations of banks in conservatorship.....................
Successors to or reorganizations of banks in receivership or in process of
liquidation..............................................................................................................

O
F

1

224
14

NUMBER

1
3

228
20

Table 102.

A n a l y s i s o f A d m is s io n s t o

a n d T e r m i n a t i o n s o f I n s u r a n c e in E a c h

1934-1939—

C o n tin u e d

1935

1934-1939

Total

C la s s o f B a n k ,

Under
Under
tempor­ perma­
ary plan nent plan

1939

1938

1937

1936

1934
J a n .1 - Aug. 2 3Aug. 22 Dec. 31

FEDERAL

NATIONAL BANKS MEMBERS OF THE FEDERAL RESERVE
s y s t e m — Continued
13

44
4

7
6

Num ber insured at foe$^innin£ of period
..............................................
Num ber insured at end of period
...............................................................

856
1,175

856
990

990
1,175

856
980

980
990

Admissions not directly offset by term inations1 total .............................
—

56

41

15

40

1

Banks operating, or with direct predecessors operating, when deposit in­
surance became effective:
Banks of deposit operating January 1, 1934, not previously insured, or
successors to such banks2....................................................................................
Bank previously insured3 .......................................................................................
Financial institutions operating January 1, 1934, but not engaged in
deposit banking, or successors to such institutions4....................................

14
1

9

5
1

25

25

7

5

2

5

Banks organized and opened since deposit insurance became effective:
Banks opened and admitted to insurance in the same calendar y e a r.........

5

2

3

13

14

2
16
1

1
12

2
12

990
1,001

1,001
1,051

1,051
1,081

1,081
1,114

1,114
1,175

2

3

5

3

2

3

9

Banks in conservatorship or operating under restrictions, or in receivership
or liquidation, when deposit insurance became effective:
Successors to or reorganizations of banks in conservatorship or operating
under restrictions5 ...............................................................................................
Successors to or reorganizations of banks in receivership or in process of
liquidation6
.
.........................................................................................

19

2
19

2

B&nks succeeded, b y other insured banks not in ss-itg class
.....................
Suspended banks or banks withdrawing from insurance, readmitted............

4
3
1

ST A T E B AN K S M E M B E R S OF TH E F E D E R A L RESERVE SYSTEM

4

4

24

2

1
1

1
1

Admissions directly offset by term inations—to ta l........................................

408

133

275

109

24

Banks succeeding other banks in same class .....................................................
Banks succeeding other insured banks not in same class...................................
Admissions
FRASER of insured banks to F. R . System8.....................................................

5
6
397

3
1
129

2
5
268

1
1
107

22

1

1
47

87

47

1
1
85

13

70

58

1
12

1
1
68

2
56

2

Digitized for


1

1

1

CORPORATION

48

7
62
2

INSURANCE

71

51
10

DEPOSIT

61

58
72
2

21

1
1

132

Terminations not directly offset by admissions— to ta l...............................
Banks suspended or merged with financial aid from FD IC :
Suspended banks not reopened or succeeded....................................................
Banks merged with financial aid of F D IC — net reduction...........................

19

6
2

8

4

20

7

13

2
1

11

11

1

3
1

9
1

14
3

6

7
2

6
2

1

1

1
1

13
5

40
6

6
4

1

Term inations directly offset by admissions— to ta l........................................

71

21

50

14

7

12

13

10

15

Banks succeeded b y other banks in same class....................................................
Banks succeeded b y other insured banks not in same class..............................
Banks withdrawing from F . R . System and admitted to insurance...............

5
38
28

3
12
6

2
26
22

1
10
3

2
2
3

1
5
6

7
6

5
5

1
9
5

N um ber insured at beginning of period.............................................................
N um ber insured at end of period..........................................................................

i%,978
7,176

6,978
7,754

7,754
7,176

1 6,978
0
7,707

7,707
7,754

7,754
7,739

7,739
7,597

7,597
7,456

7,456
7,323

7,323
7,176

Admissions not directly offset by term inations— to ta l................................

1,421

1,158

263

982

176

37

73

70

44

39

Banks operating, or with direct predecessors operating, when deposit in­
surance became effective:
Banks of deposit operating January 1, 1934, not previously insured, or
successors to such banks2 ..................................................................................
Banks previously insured, or successors to such banks3.................................
Financial institutions operating January 1, 1934, but not engaged in
deposit banking, or successors to such institutions4...................................

454

367
2

87
10

317
1

50
1

13
3

31
3

22
1

11
2

10
1

2

2

1

3

4

7
1

4

C O M M E R C IA L B A N K S N O T M E M B E R S OF THE
F E D E R A L R E S E R V E SYSTEM

Banks organized and opened since deposit insurance became effective:
Banks opened and admitted to insurance in the same calendar yea r.........
Banks opened since January 1, 1934, prior to year of admission to in­
surance, or successors to such banks..............................................................
Admissions directly offset by terminations— to ta l........................................
Banks succeeding other banks in same class7........................................................
Banks succeeding other insured banks not in same class7.................................
Readmissions of banks which had suspended and reopened or had withdrawn
from insurance...........................................................................................................
Admissions to insurance of banks withdrawing from F. R . System ...............




640

8

623

17

560

63

5

6

2

58

8

45

13

4

3

1

212

98

114

59

39

12

25

37

20

29

10

19

3

5

6

5

169

34

135

15

19

7

38

37

24

29

17
10

51
58

8
4

9
6

3
2

12
19

16
14

7
12

13
11

1
6

4
22

1
3

2

3

1
6

1
6

5

5

6
6

6
8
6
8
5
28

10

20

OFFICES

Banks in conservatorship or operating under restrictions, or in receivership
or liquidation, when deposit insurance became effective:
Successors to or reorganizations of banks in conservatorship or operating
under restrictions5.................................................................................................
Successors to or reorganizations of banks in receivership or in process of
liquidation6.............................................................................................................

1
2
8

NUMBER

1

53

BANKING

2

55

O
F

Other terminations:
Withdrawals from insurance of operating banks (excluding those re­
admitted during same y e a r )..............................................................................
Banks absorbed by or consolidated with other insured banks without
financial aid of F D IC — net reduction.............................................................
Other liquidations.....................................................................................................

74

00
Ci
T able 102.

A n alysis

of

A dmissions

to and

T erminations

of

I nsurance

in

E ach C lass

B a n k , 1934-1939— Continued

1935

1934-1939
Under
Under
tempor­ perma­
ary plan nent plan

1936

1934

1937

1939

1938

FEDERAL

I Total

of

J a n .1 - Aug. 23 Aug. 22 Dec. 31
i

Term inations not directly offset by adm issions— total

Other terminations:
Withdrawals from insurance of operating banks (excluding those re­
admitted during same y e a r )..................................................... .......... j V ' ' V'
Banks absorbed by, succeeded b y, or consolidated with noninsured banks
Banks absorbed by or consolidated with other insured banks without
financial aid of F D IC — net reduction.............................................................
Other liquidations.....................................................................................................
Insured status terminated b y F D IC 9..................................................................

112

41

166

163

146

113

9

39
21

46
12

46
18

25
15

185

2
0

165

8

12

49
9

46
4

3
5

21
1

25
3

418
149

136
43

282
106

91
16

45
27

23
9

80
23

79
25
1

43
33
1

57
16

6
6

6
6

2

3
2

3

347

131

36

18

87

85

55

102

45
4
397

17
19

51
26

8
16

3
3

107

12

16
12
1
56

13
4

268

12
6
1
68

7
1

129

9
3
2
22

47

85

214
51

214
56

56
51

214
68

68
56

56
56

56
56

56
56

56
48

48
51

28

24

23

1

21

21

6
8

2

2

M U T U A L SAVIN GS B A N K S
Num ber insured at beginning of period
Num ber insured at end of period..........................................................................
Admissions not directly offset by term ination— total
Banks operating, or with direct predecessors operating, when deposit in­
surance became effective:
Banks of deposit operating January 1, 1934, not previously insured.........
Banks previously insured........................................................................................




4

4

CORPORATION

2

Term inations directly offset by admissions— total
Banks succeeded by other banks in same class....................................................
Banks succeeded by other insured banks not in same class..............................
Suspended banks, or banks withdrawing from insurance, readmitted............
Insured banks admitted to F. R . System8.............................................................

!

137

249

INSURANCE

Banks suspended or merged with financial aid from FD IC :
Suspended banks not reopened or succeeded................. ...............................
Banks merged with financial aid of F D IC — net reduction...........................

878

DEPOSIT

COMMERCIAL BAN KS NOT MEMBERS OF THE
f e d e r a l r e s e r v e s y s t e m — Continued

Banks in conservatorship or operating under restrictions, or in receivership
or liquidation, when deposit insurance became effective:
Successors to or reorganizations of banks in conservatorship or operating
under restrictions.................................................................................................

i
2

Banks organized and opened since deposit insurance became effective:
Bank opened and admitted to insurance in the same calendar y e a r .........

1

Term inations not directly offset by admissions— to ta l...............................

182

1

Banks suspended or merged with financial aid from F D IC :
Suspended bank not reopened or s u cceed ed ....................................................
Bank merged with financial aid of F D IC — net reduction ...................! . . .

1
9

169

13

1
1

177
5

1

1
1

169
5
1
1

8

8
5

5
1
1

BANKING
OFFICES




O
F

+!
.1
banks admitted to insurance as of January 1, 1934, were licensed, under the provisions of the Executive Order of the President issued March 10, 1933, prior to, or
on the date deposit insurance became effective, with the exception of a few banks which were fully or conditionally admitted to insurance as of January 1, 1934, though formally
licensed at a later date. See also footnotes 4 and 10.
I p X(?ludes bai}ks operating under restrictions but unlicensed under the provisions of the Executive Order of the President issued March 10, 1933.
Includes banks which withdrew from insurance during or at the close of the temporary funds, or which were succeeded by noninsured banks and operated as noninsured
banks for three months or more prior to readmission to insurance.
• a 4, ^ f se j a
,s!fs
^ e following types of institutions: (a) trust companies not engaged in deposit banking but with uninvested trust funds eligible for insurance; (b)
industrial and Morris Plan banks and companies not legally authorized to receive deposits on January 1, 1934, which have been authorized by laws enacted since January 1, 1934,
to engage m deposit banking, or whose obligations were recognized by the Corporation as eligible for the protection of deposit insurance; and (c) banks of deposit organized as
successors to cooperative credit associations, savings and loan associations, Morris Plan companies, and similar institutions. In addition, 40 institutions of these types were
admitted to insurance as of January 1, 1934.
^
5 Includes a few cases of banks placed under restrictions subsequent to January 1, 1934.
6 d e lu d e s a few cases of banks which were in conservatorship or operating under restrictions on January 1, 1934, which were subsequently placed in receivership or liquida­
tion, and were m process of liquidation at the time of reorganization and admission to insurance.
j 1 d elu d es private banks incorporated, new charters obtained in connection with consolidation, and charter renewals in cases where corporate identity was not maintained
and the bank was required to reapply for insurance.
*. 8
.1
termination of insurance occurs in the case of insured banks not members of the Federal Reserve System which are admitted to that system, but they are insured
thereafter under subsection (e) rather than subsection (f) of section 12B of the Federal Reserve Act, as amended. The number of insured banks admitted to Federal Reserve
membership are shown m this table in order to indicate the admissions and terminations of insured banks by class.
9 1 of these banks subsequently suspended operations.
• 1 ?ncl.udes about 460 banks which had been approved for insurance, but from which assessment remittances were not received until after January 1, 1934. Also includes
0
40 institutions of the types described in footnote 4.

NUMBER

Other terminations:
Withdrawals from insurance of operating banks (excluding those re­
admitted during same y e a r )..............................................................................
Banks consolidated with other insured banks without financial aid of
F D IC — net reduction..........................................................................................
Other liq u id a tio n ............................................................................
Insured status terminated by F D I C ...............................................................”

1

00

-3

T able 103.

A N A LY SIS OF CHANGES IN N U M BER AND CLASSIFICATION OF OPERATIN G B AN K IN G OFFICES
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 i o n s D u r i n g 1939
Commercial banking offices

All banking offices

Insured
Non­
insured

Total

Members F. R .
System

Total

State

N ot
Non­
mem­
insured
bers
F. R .
S ystem

Total

1,101
1,147

683
685

In­
sured

sured

A L L B A N K IN G O FFICES
18,095
18,220

127

64

63

+ 117
4-27

+ 10
+5

+ 15

+ 131
+ 37
+ 94

+ 117
+ 27
+ 90

214
168
46

-45
-41

-256
-206
-50

6,710
6,727

-125

16,994
17,073

2,177
2,106

8,107
8,240

608
625

+ 15

46

+ 71

75
60

Changes resulting from —
Offices opened.
B an ks...............
Branches........
Offices closed.
B an ks...........
Branches. .. .

490

4-33

+21

412

+1

+ 81
+ 23
+ 58

+ 14
+ 10
+ 4

213
-167
-46

49
41

-35
13
-22

129
113
16

+ 9

+ 93

-85
+ 16

-17
-17

+1
+8

+ 72

1,175
1,114

7,176
7,323

996
1,042

+ 61

+1
+1

+1
+1

43
-39
-4

+ 17
+ 17

33
-21

+ 12

-147

-12

+1

+ 16
+ 4
+ 12

-16
-4

-12

+2
0

BANKS
Num ber of banks, December 31, 1939.
Num ber of banks, December 31, 1938.
Net change during year..............

13,538
13,661

15,085
15,257

13,589

13,709

1,496
1,548

14,534
14,703

-172

120

-52

-169

+ 37
+ 32
+ 3

+ 27
+ 26

4 10

+ 37
+ 32
+ 3

+ 27
+ 26,

-209
-42
-21

-168
-32

-10

-90
-25

-23

-206
-42
-20
-96
-48

-167
-32
-20
-90
-25

5,187
5,224

500
506

551
554
+ 3

-6

Changes resulting fr o m Banks beginning operations.....................................
New banks1.....................................................................
Banks not previously included2............................
Financial institutions becoming banks of d ep osit.
Banks ceasing operations..................................................................
Suspended banks not reopened or succeeded...............................
Merged with financial aid of F D IC — net decrease.....................
Other mergers, consolidations, and absorptions— net decrease.
FRASER liquidations.................................................................................
Other

Digitized for


+2

+1
-21

+6
4 3
+1

-41

+2

+ 3
+ 3

+1
+1

+ 23

+22

+1

+1
-41
-4
-4
-26
-7

-113
-25
-15
-5 7
-16

+ 10

+6
+ 3
+1

-39

-10

-3

-2
' -2

CORPORATION

Changes in classification— net to ta l........
Noninsured banks to insured ban ks...........
Noninsured branches to insured branches.
Among insured banks......................................
Among branches of insured banks...............

+ 23
+ 3

+ 13

+20

INSURANCE

1,709
1,772

DEPOSIT

17,069
17,133

-259
-209
-50

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

18,778
18,905

+ 132
+ 37
+ 95

Num ber of offices, December 31, 1939.
N um ber of offices, December 31, 1938.

FEDERAL

Na­
tional

00
00

Mutual savings
banking offices

+2
1
+ lf
+2
0

N on in s u re d b a n k s b e c o m in g in s u r e d .........................................
Admissions to F . R . System .............................................................
Admissions to insurance, banks operating at beginning of y e a r.

+1
+1

+ 17

+1

+ 16

+1

C h a n ges in c la ss ific a tio n a m o n g in su red b a n k s ....................
National banks succeeding State banks.................................... . .
State banks succeeding national banks..........................................
Admissions to F . R . System .............................................................
Withdrawals from F . R . System with continuance of insurance.

+ 13
-12

+ 72
-9

+1

+ 85
-5

+ 16

-1 7

+4

-4

+ 16

-16

+ 4

-4

24

108
119

-1

-7 3
-4

+1
1
-8 5
+ 5

C h a n ges n o t in v o lv in g n u m b e r in a n y cla ss:
Successions3...........................................................................................
Changes in title4...................................................................................
Changes in loca tion .............................................................................
Changes in title and loca tion ...........................................................
Changes in names of tow ns...............................................................
BRANCHES
3,693
3,648

N et c h a n g e d u r in g y e a r ...............................................................

3,480
3,424

+ 45

+ 56

+ 95
+ 43

+ 90
+ 42

+ 41

213
224

3,561
3,517

3,456
3,412

+ 44

+ 44

+2
0

+1
0

+1

+ 94
+ 42

+ 90
+ 42

+ 13

+1
2

+ 37

+ 4

+ 41

+ 37

46
-9
-3 7

-4

-50
-9
-41

-4 6
-9
-3 7

+2
0
+1
+6
-8

1,523
1,503

1,002
992

931
917

105
105

132
131

+1

+ 14

1
2
+1
2

1
1

C h a n ges r e s u ltin g fr o m —

-50
-9
-41

B ra n ch e s o f n o n in su r e d b a n k s b e c o m in g insured.
Branches of banks admitted to insurance....................

+1
2
+1
2

+ 5

-4

+1
1

+1
1

+ 58
+ 24

+ 4

+ 5
+ 7

+ 24

+1
+1

+1
+1

-7
-15

-16

-2

-1 4

+1
2
+1
2

-1 2

-12

+8
-5
+ 13

-12

+ 4

-22

+1
0

+2
0
+ 14

+ 4

-12

-2 8
-1 4

+1

-13

OFFICES

C h a n g es in c la ss ific a tio n a m o n g b ra n ch es o f in su red b a n k s .
Branches of banks admitted to F . R . System ...............................
Branches transferred as result of absorptions or successions:
From national banks to State banks............................................
From State banks to national banks............................................
From banks not members F . R . System to banks members
F . R . System ..................................................................................

+1
1

BANKING

B ra n ch es d i s c o n t in u e d ........................
Branches of banks which suspended .
Other branches discontinued5.............

+1
1

O
F

B ra n ch es o p e n e d fo r b u s in e s s ..............................................
Absorbed banks converted into branches...........................
Branches replacing banks or branches closed or relocated.
Other branches op en ed ............................................................

NUMBER

N u m b e r o f b ra n ch e s, D e c e m b e r 31, 1939.
N u m b e r o f b ra n ch e s, D e c e m b e r 31, 1938.

+2

C h a n g es n o t in v o lv in g n u m b e r in a n y cla ss:
Branches transferred, chiefly as result of absorptions or suc­
cessions.........................................................................................
Changes in title..................................................................................
Changes in loca tion ...........................................................................
Changes in title and loca tion .............................. ..........................
Includes, among insured banks not members of the Federal Reserve System, 1 credit union and 1 savings and loan company which reorganized as banks of deposit, 2 banks
which opened during the year as noninsured banks but were later admitted to insurance. Includes, among noninsured banks, 2 banks in the possessions.
Includes, among noninsured banks, 2 branches of foreign banks engaged in deposit banking, and 1 private bank organized in 1936.
3 Includes, among insured banks not members of the Federal Reserve System, 5 charter renewals.
4 Includes, among insured banks not members of the Federal Reserve System, 2 cash depositories which changed titles in connection with the obtaining of full banking powers.
5 Includes, among branches of noninsured banks, 3 branches in the possessions.
NOTE:

For reconcilement of figures relating to number of suspensions, receiverships, and mergers with F D IC aid, see page 78.

Back figures

See the following Annual Reports:




1938, p. 124; 1937, pp. 70-72; 1936, pp. 102-04; 1935, pp. 144-46; 1934, p. 177.

00

CO

Table 104.

N

um ber

OF OPERATING B A N K IN G OFFICES, D E C EM BER

o

31, 1939

GROUPED ACCORDING TO INSURANCE STATUS AND CLASS OF BANK AND BY TYPE OF OFFICE IN EACH STATE AND POSSESSION
Mutual savings banking
offices

Commercial banking offices

All banking offices

Total

Total

Total

Members F . R .
N ot
N on­
System
members insured
F. R .
National State System

Total

Com ­
All
m ercial
N on­
Insured insured banking banking
offices offices

Mutual
savings
banking
offices

18,095
14,534
13,579
955
3,561

16,994
13,538
12,625
913
3,456

6,710
5,187
k,990
197
1,523

2,177
1,175
1,010
165
1,002

8,107
7,176
6,625
551
931

1,101
996
95k
k2
105

683
551
k71
80
132

75
51
k3
8
24

608
500
k28
72
108

90.9
90.1
90.2
89.0
94.2

93.9
93.1
93.0
95.6
97.1

11.0
9.3
9.1
10.0
18.2

18,687
15,049
1U ,025
1 ,02k
3,638

17,062
13,585
12,666
919
3,477

1,625
1,464
1,359
105
161

18,004
14,498
13,55 k
9kk
3,506

16,987
13,534
12,623
911
3,453

6,710
5,187
k,990
197
1,523

2,177
1,175
1,010
165
1,002

8,100
7,172
6,623
5k9
928

1,017
964
931
33
53

683
551
k71
80
132

75
51
k3
8
24

608
500
k28
72
108

91.3
90.3
90.3
89.7
95.6

94.4
93.4
93.1
96.5
98.5

11.0
9.3
9.1
10.0
18.2

91
36
25
11
55

7
4
2
2
3

84
32
23
9
52

91
36
25
11
55

7
4
2
2
3

7
4
2
2
3

84
32
23
9
52

7.7
11.1
8.0
18.2
5.5

7.7
11.1
8.0
18.2
5.5

State
Alabam a
.........................................
All ban ks......................................................
Unit banks . . . .
. ...
Banks operating branches
Branches ...................................................

237
217
21U
3
20

229
209
206
3
20

8
8
8

237
217
21k
3
20

229
209
206
3
20

85
66
6k
2
19

17
16
15
1
1

127
127
127

8
8
8

96.6
96.3
96.3
100.0
100.0

96.6
96.3
96.3
100.0
100.0

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

38
12
8
k
26

38
12
8
k
26

38
12
8
k
26

38
12
8
k
26

26
5
3
2
21

2
2
2

10
5
3
2
5

100.0
100.0
100.0
100.0
100.0

100.0
100.0
100.0
100.0
100.0

Arkansas
.................................................
All ban ks......................................................
Unit banks...............................................
Banks operating branches.....................
Branches.......................................................

229
214
200
lk
15

223
208
19 U
lk
15

229
214
200
lk
15

223
208
19k
lk
15

50
49
k8
1
1

7
7
7

166
152
139
13
14

97.4
97.2
97.0
100.0
100.0

97.4
97.2
97.0
100.0
100.0

United S ta tes....................................................
All ban ks..........................................................
Unit banks...................................................
Banks operating branches..........................
Branches...........................................................
Possessions
All banks...........................................
Unit banks.......................................
Banks operating branches.................
Branches.......................................................




6
6
6

6
6
6

CORPORATION

1,709
1,496
1,382
m
213

INSURANCE

17,069
13,589
12,668
921
3,480

DEPOSIT

United States and possessions— to ta l........ 18,778
All ban ks............................................................... 15,085
Unit banks........................................................ 1 U,050
1,035
Banks operating branches..............................
3,693
Branches................................................................

FEDERAL

Insured
Insured N on­
insured

Insured banking offices
as percentage of—

1,049
200
167
33
849

782
100
91
9
682

141
15
8
7
126

126
85
68
17
41

8
7
6
1
1

99.2
96.6
96.5
97.1
99.9

99.2
96.6
96.5
97.1
99.9

145
145
14-5

137
137
137

8
8
8

15
4

145
145

137
137
137

78
78
78

13
13
13

46
46
1*6

8
8
8

94.5
94.5
91*.5

94.5
94.5
94.5

207
192
185
7
15

109
102
97
5
7

98
90
88
2
8

134
120
114

109
102
97
5
7

57
53
50
3
4

6
5
•
4
1
1

46
44
U3
1
2

25
18
17
1
7

73
72
71
1
1

73
72
71
1
1

52.7
53.1
52.4.
71.4
46.7

81.3
85.0
85.1
83.3
50.0

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

60
46
39
7
14

55
42
36
6
13

5
4
3
1
1

57
44
38

55
42
36
6
13

15
15
15

6
4
2
2
2

34
23
19
4
11

2
2
2

3
2
1
1
1

3
2
1
1
1

91.7
91.3
92.3
85.7
92.8

96.5
95.5
9U.7
100.0
100.0

D is tr ic t o f C o lu m b ia .................................
All banks
.................................................
Unit banks ...........................................
Banks operating branches.....................
Branches ...................................................

52
22
11
11
30

52
22
11
11
30

30

52
22
11
11
30

26
9
U
5
17

11
5
2
3
6

15
8
5
3
7

100.0
100.0
100.0
100.0
100.0

100.0
100.0
100.0
100.0
100.0

F lo r id a .............................................................
All ban ks......................................................
Unit banks...............................................
Banks operating branches.....................
Branches
.................................................

167
165
164
1
2

162
162
162

5
3
2
1
2

167
165
164

162
162
162

52
52
52

4
4
4

106
106
106

5
3
2
1
2

97.0
98.2
98.8

97.0
98.2
98.8

G e o r g ia ............................................................
All banks......................................................
Unit banks...............................................
Banks operating branches.....................
Branches.......................................................

373
347
336
11
26

291
267
258
9
24

82
80
78
2
2

373
347
336

291
267
258
9
24

68
52
49
3
16

23
18
15
3
5

200
197
1943
3

82
80
78
2
2

78.0
76.9
76.8
81.8
92.3

78.0
76.9
76.8
81.8
92.3

I d a h o ..............................................................
All banks ....................................................
Unit banks...............................................
Banks operating branches.....................
Branches.......................................................

83
51
45
6
32

81
49
43
6
32

2
2
2

83
51
45

81
49
U
S
6
32

35
18
144
17

23
10
9
1
13

23
21
20
1
2

2
2
2

97.6
96.1
95.6
100.0
100.0

97.6
96.1
95.6
100.0
100.0

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

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




6

14

6

13
52
22
11
11

1
2

11

26

6

32

OFFICES

1,057
207
173
3U
850

BANKING

8
7
6
1
1

O
F

1,049
200
167
33
849

NUMBER

1,057
207
173
34
850

CD

Table 104.

N u m ber

of

Operating B anking Offices , D ecember 31, 1939— Continued

GROUPED ACCORDING TO INSURANCE STATUS AND CLASS OF BANK AND BY TYPE OF OFFICE IN EACH STATE AND POSSESSION

Insured
Total

Insured Non­
insured

Total

Total

Members F. R .
N ot
N on­
System
members insured
F. R .
National State S ystem

Total

Com ­
All
N on­
m ercial
Insured insured banking banking
offices offices

94.9
94.4
9U-2
97.5
98.5

84
74
67
7
10

89.7
88.8
87.6
9U.0
93.7

89.7
88.8
87.6
9U-0
93.7

250
250
250

222
222
222

67.1
67.1
67.1

67.1
67.1
67.1

19
17
15
2
2

270
262
25U
8
8

32
32
32

92.6
92.1
91.9
100.0
100.0

92.6
92.1
91.9
100.0
100.0

8
7
6
1
1

134
108
87
21
26

1
1
1

99.5
99.3
99.1
100.0
100.0

99.5
99.3
99.1
100.0
100.0

848
848
8U8

831
831
831

327
327
327

77
77
77

427
427
U27

17
17
17

I n d ia n a ............................................................
All ban ks......................................................
Unit banks...............................................
Banks operating branches
Branches

573
508
U68
Uo
65

543
479
U0
39
64

30
29
28
1
1

569
504
W
uo
65

540
476
1+37
39
64

133
125
119
6
8

38
23
20
3
15

369
328
298
30
41

29
28
27
1
1

Iow a
All banks
Unit banks
Banks operating branches
Branches

817
658
51*1
117
159

733
584
U7k
110
149

84
74
67
7
10

817
658
5U1
117
159

733
584
b7U
110
149

108
108
108

35
35
35

590
441
331
110
149

K a n sa s
All banks
Unit banks
Banks operating branches
Branches
.............................................

675
675
675

453
453
Jf.53

222
222
222

675
675
675

453
453
1+53

182
182
182

21
21
21

K e n t u c k y ........................................................
All banks
.................................................
Unit banks ..........................
Banks operating branches
Branches
.....................

434
406
393
13
28

402
374
361
13
28

32
32
32

434
406
393
13
28

402
374
361
13
28

113
95
92
3
18

L o u is ia n a
All banks
Unit banks ..........................
Banks operating branches.
Branches.......................................................

198
145
117
28
53

197
144
116
28
53

1
1
1

198
145
117
28
53

197
144
116
28
53

55
29
23
6
26

Branches




4
4
U

3
3
3

1
1
1

75.0
75.0
75.0

CORPORATION

94.8
94.3
91+-0
97.5
98.5

17
17
17

INSURANCE

98.0
98.0
98.0

831
831
831

Unit banks

Mutual
savings
banking
offices

DEPOSIT

98.0
98.0
98.0

848
848
8U8

Illin o is

Insured banking offices
as percentage of—

FEDERAL

Mutual savings banking
offices

Commercial banking offices

All banking offices

12
1
60
U

118

59

50
16
52

M aryland..................................
All ban ks.................................
Unit banks..........................
Banks operating branches.
Branches..................................

282
188
161
27
94

254
176
151
25
78

M assachusetts........................
All ban ks.................................
Unit banks..........................
Banks operating branches.
Branches..................................

540
390
323
67
150

308
192
150

M ich ig an ...................................
All banks.................................
Unit banks..........................
Banks operating branches.
Branches..................................

623
459

588
429
3 83

19
+
164

M in n eso ta.................................
All ban ks.................................
Unit banks..........................
Banks operating branches.
Branches..................................

685
679
677

M ississippi................................
All ban ks.................................
Unit banks..........................
Banks operating branches.
Branches..................................

247
205
181

236
194
170

247
205
181

42

42

42

M issou ri.....................................
All ban ks.................................
Unit banks..........................
Banks operating branches.
Branches..................................

626
626

587
587
587

626
626

587
587
587

445
445
U5

Ill

11
1
11
1
11
1

11
1
11
1
11
1

11
1
11
1
11
1

43
43

2+
1

11
1
11
1

126
69
19
+

7

57

16
52

42
38
35
3
4

254
176
151
25
78

252
174
11+9
25
78

72
63
60
3
9

232
198
173
25
34

315
198
156

308
192
150

117

116

623
459

588
429
383

159

35
30
27
3
5

1+
9
164

654
648
61+6

31
31
31

684
678
676

U
2

116

16
+

2
6

2+
1

6

28

1
2
1
0
2
16

2
0

12
+

11
+0

31
5

1
U
26
53

1
0
U
6

2
2
127

11
0

43

85
16
26

187
125
107
18
62

67
29
15

54
38
28

38

16

193
131
119

159

138
82
69
13
56

653
647
61+5

197
191
189

18
18
18

U
2

16
+

u

1
2
62

73.8
65.3
63.3
72.7

88.9
87.0
89.8
80.0
91.2

90.1
93.6
93.8
92.6
83.0

99.2
98.9
98.7

8 .1
8
28

1
2
1
0
2
16

16

225
192
167
25

225
192
167
25
33

100.0
97.8
97.0
96.2

62.7
77.3

100.0

41

94.4
93.5
93.1+
93.9
97.0

94.4
93.5
93.1+
93.9
97.0

438
438
1+38

95.5
95.4
95.1+

95.5
95.4
95.1+
1 0 0 .0

1
0
257
216
195

2
1

U+
6
.1

100.0

2+
1

7.1
16.7

20
.0

100.0

57.0
49.2

100.0

236
194
170

17.6
18.8

20
.0

209
168
11+5
23
41

U
S

95.5
94.6
93.9

99.1

100.0

100.0

95.5
94.6
93.9
100.0
100.0

93.8
93.8
93.8

93.8
93.8
93.8

100.0

10
0 .0

100.0
100.0

O
F




i+
io

42
35
29

6
6

NUMBER

M o n ta n a ....................................
All b an k s.................................
Unit banks..........................
Banks operating branches.
Branches..................................

11
0
79
2
2

100.0
100.0

1 0 0 .0

OFFICES

160

BANKING

M a in e ..........................................
All ban ks.................................
Unit banks..........................
Banks operating branches.
B ranches..................................

100.0

100.0
100.0

ID
CO

C
O
T a b le

104.

N

umber

OF O p e r a t i n g B a n k i n g O f f i c e s , D

ecem ber

31, 1939— Continued

GROUPED ACCORDING TO INSURANCE STATUS AND CLASS OF BANK AND BY TYPE OF OFFICE IN EACH STATE AND POSSESSION

Insured
Total

Non­
insured

59
59
59

Com ­
All
m ercial
N on­
Insured insured banking banking
offices offices

22
11
9
2
11

17
6
U
2
11

1
1
1

53
51
U9
2
2

66
64
62
2
2

57
56
55
1
1

53
52
51
1
1

1
1
1

3
3
3

9
8
7
1
1

44
43
J2
+
1
1

486
369
317
52
117

19
17
16
1
2

477
362
312
50
115

471
356
306
50
115

259
226
208
18
33

108
51
30
21
57

104
79
68
11
25

6
6
6

28
24
21
3
4

47
41
37
U
6

46
40
36
h
6

1
1
1

47
41
37
4
6

46
40
36
•
4
6

22
22
22

5
5
5

19
13
9
U
6

1,384
738
6U8
90
646

191
147
109
38
44

1,391
751
662
89
640

1,374
734
6U7
87
640

621
437
U09
28
184

526
126
8U
U2
400

227
171
15 U
17
56

17
17
15
2

51.8
52.3
52.9
33.3
33.3

86.4
87.5
88.7
50.0
50.0

13
11
10
1
2

96.2
95.6
95.2
98.1
98.3

98.7
98.3
98.1
100.0
100.0
97.9
97.6
97.3
100.0
100.0

87.9
83.4
85.6
70.3
93.6

98.8
97.7
97.7
97.8
100.0

1
1
1

1,575
885
757
128
690

44
43
U2
1
1

4
4
4

N evada
All banks
Unit banks
Banks operating branches
Branches

22
11
9
2
11

22
11
9
2
11

N ew H a m p s h ire
All banks
Unit banks ...........................................
Banks operating branches
Branches

110
107
10 h
3
3

57
56
55
1
1

N ew J e rs e y .....................................................
All ban ks......................................................
Unit banks...............................................
Banks operating branches
Branches
.................................................

505
386
333
53
119

59
59
59

184
134
95
39
50

15
13
11
2
2

10
4
1
3
6

174
130
9U
36
44

53.6
54.2
52.k
66.7
50.0

5.4
3.0
1.1
7.7
12.0

CORPORATION

22
11
9
2
11

100.0
100.0
100.0
100.0
100.0

97.9
97.6
97.3
100.0
100.0

216
216
216

86.1
86.1
86.0
100.0
100.0

100.0
100.0
100.0
100.0
100.0

13
13
13

Mutual
savings
banking
offices

INSURANCE

86.1
86.1
86.0
100.0
100.0

137
135
133
2
2

366
364
362
2
2




Total

366
364
362
2
2

425
423
U21
2
2

N ew Y o r k ........................................................
All ban ks......................................................
Unit banks...............................................
Banks operating branches.....................
Branches.......................................................

Total

Members F . R .
N ot
N on­
System
members insured
F. R.
National State System

425
423
U21
2
2

Unit banks
Banks operating branches
Branches

N ew M ex ico
All banks
Unit banks
Banks operating branches
Branches

Total

DEPOSIT

Insured

Insured banking offices
as percentage o f—

FEDERAL

Mutual savings banking
offices

Commercial banking offices

All banking offices

97.5
96.9
96.7
97.7
98.4

97.5
96.9
96.7
97.7
98.4

127
107
93

93.2
92.4
91.7
100.0
100.0

93.2
92.4
91.7
100.0
100.0

212
100
85
15
112

360
338
322
16

97.8
97.3
97.1
100.0
100.0

97 8
97.3
97.1
100.0
100.0

211
211
211

9
9
9

161
161
161

96.9
96.9
96.9

96.9
96.9
96.9

138
71
67
L
67

92
27
25
2
65

7
7
7

39
37
35

98.6
97.3
97.1
100.0
100.0

98.6
97.3
97.1
100.0
100.0

1,191
1,088
1,01+3
1+
5
103

1,160
1,062
1,020
12
+
98

732
693
675
18
39

122
82
69
13
40

306
287
276

96.7
97.4
97.7
89.8
90.5

97.4
97.6
97.8
93.3
95.1

28
16
10
6
12

61
23
12
11
38

44
16
10
6
28

20
12
9
3
8

21
2

61.1
50 0
50.0
50.0
70.0

72.1
69.6
83.3
51+-5
73.7

39
39
39

173
151
11+5
6
22

134
112
106
6
22

35
20
19
1
15

6
5
1
*
1
1

77.5
74.2
73.1

77.5
74.2
73.1

9
7
6
1
2

353
227
181+
U3
126

344
220
178
U2
124

49
42
39
3
7

190
170
156
n
20

177
157
11+3
U
20

13
13
13

190
170
156
n
20

177
157
11+3
11*
20

50
50
50

873
704
665
39
169

854
685
61+6
39
169

19
19
19

870
701
662
39
169

851
682
61+3
39
169

279
244
236
8
35

393
393
393

381
381
381

12
12
12

393
393
393

381
381
381

Oregon
........................................................
All b an k s......................................................
Unit banks...............................................
Banks operating branches.....................
B ranches.......................................................

141
74
70
b
67

139
72
68
1
*
67

2
2
2

140
73
69
L
67

Pennsylvania.................................................
All b an k s......................................................
Unit banks...............................................
Banks operating branches.....................
B r a n c h e s .....................................................

1,211
1,095
1,01+6
U9
116

1,171
1,066
1,022
U
105

40
29
2+
1
5
11

Rhode Isla n d ................................................
All banks ...................................................
Unit banks...............................................
Banks operating branches.....................
Branches ...................................................

72
32
20
12
40

44
16
10
6
28

South Carolina............................................
All ban ks......................................................
Unit banks...............................................
Banks operating branches........... .
Branches.......................................................

173
151
11+5
6
22

134
112
106
6
22

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

Ohio ................................................................

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

u
2
0

2
2

100.0

100.0
100.0

19

1
1

3

2
1
1
1
93
87
83

39

0 .0
1 0.0 1 0
0
1 0 100.0
0 .0

100.0

55.0
57.1

6 .6
6

50.0
53.8

OFFICES

2
19

1
1

100.0
100.0

BANKING




17
9
7
2
8

O
F

344
220
178
U2
124

NUMBER

278
169
132
37
109

353
227
181+
U3
126

Table 104.

N u m b e r OF O p e r a t i n g B a n k i n g O f f i c e s , D e c e m b e r 31, 1939— Continued

GROUPED ACCORDING TO INSURANCE STATUS AND CLASS OF BAN K AND BY TYPE OF OFFICE IN EACH STATE AND POSSESSION

Insured
Total

Insured N on­
insured

Total

Total

Members F. R.
N ot
N on­
System
members insured
F. R.
National State System

Com­
All
N on­ banking m ercial
banking
insured offices
offices
99.5
99.4
99.3
100.0
100.0

88
71
6V
u
17

16
6
5
1
10

236
214
200
H
22

9
9
9

97.4
97.0
96.8
100.0
100.0

97.4
97.0
96.8
100.0
100.0

779
779
779

445
445
U5
U

56
56
56

278
278
278

79
79
79

90.8
90.8
90.8

90.8
90.8
90.8

71
59
5U
5
12

71
59
5U
5
12

21
13
11
2
8

20
20
20

30
26
23
3
4

100.0
100.0
100.0
100.0
100.0

100.0
100.0
100.0
100.0
100.0

87
75
67
8
12

87
75
67
8
12

44
42
U0
2
2

100.0
100.0
100.0
100.0
100.0

100.0
100.0
100.0
100.0
100.0

386
314
27 k
U0
72

385
313
273
U
O
72

144
130
12 U
6
14

99.7
99.7
99.6
100.0
100.0

99.7
99.7
99.6
100.0
100.0

197
165
151
U
32

196
164
150
1U
32

20

X ennessee
All ban ks. . . .
.. . .
Unit banks
Banks operating branches
Branches

349
300
281
19
49

340
291
272
19
49

9
9
9

349
300
281
19
49

340
291
272
19
49

T exas. . .
All banks
Unit banks
Banks operating branches
Branches

858
858
858

779
779
779

79
79
79

858
858
858

Utah
.................................................
All banks......................................................
Unit banks...............................................
Banks operating branches.....................
B r a n c h e s .....................................................

71
59
5b
5
12

71
59
5U
5
12

V e rm on t..........................................................
All ban ks......................................................
Unit banks .............................................
Banks operating branches.....................
Branches.......................................................

104
83
7U
9
21

104
83
7U
9
21

Virginia...........................................................
All ban ks......................................................
Unit banks...............................................
Banks operating branches.....................
B ranches.......................................................

386
314
27 U
U
O
72

385
313
273
U0
72

1
1
1

61
41
37

43
33
27
6
10
39
32
29
3
7

202
151
120
31
51

17
8
7
1
9
1
1
1

17
8
1
9

100.0
100.0
100.0
100.0
100.0

CORPORATION

99.5
99.4
99.3
100.0
100.0

1
1
1

INSURANCE

1
1
1

M utual
savings
banking
offices

DEPOSIT

112
100
90
10
12

196
164
150
iu
32




Insured

23
23
23

197
165
151
1U
32

Unit banks
Banks operating branches
Branches

Total

Insured banking offices
as percentage of—

FEDERAL

Mutual savings banking
offices

Commercial banking offices

All banking offices

225
141
132
9
84

137
128
9
84

22
2

138
129
9
84

218
134
125
g
84

126
45
39
6
81

16
15
n
i
i

76
74
72
2
2

4
4
4

West V irgin ia..........................
All b an ks................................
Unit banks..........................
Banks operating branches.
Branches.................................

181
180
179

174
173
172

181
180
179

174
173
172
i
1

77
77
77

19
19
19

78
77
76
1
1

7
7
7

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

701
575

81
126

563
1*83
80
125

697
571
U90
81
126

685
560
1*80
80
125

119
105
102
3
14

35
29
25
4
6

531
426
353
73
105

12
11
10
1
1

W y o m in g ...................................
All ban ks.................................
Unit banks..........................
Banks operating branches.
Branches..................................

58
58
58

58
58
58

58
58
58

58
58
58

26
26
26

9
9
9

23
23
23

1
1

98.1
97.9
97.8
98.8
99.2

98.3
98.1
98.0
98.8
99.2
100.0
100.0
100.0

75.0
75.0
75.0

14
13
12
1
1

12.5
13.3
1U-2

12.5
13.3
lJf.,2

2
1

2
1

4.9
14.3

4.9
14.3

1
1

1
1

39
6
U

33.3
2.9

33.3
2.9

75.0
50.0

75.0
50.0

33

OFFICES

2
2
2

30
12
6
6
18
3
1

3
1

1
2

1
2

Back figures— See the following Annual Reports: 1938, p. 126; 1937 p. 73; 1936, p. 105; 1935, pp. 122-131.




1
1
1

100.0
100.0
100.0

96.1
96.1
96.1
100.0
100.0

2
2
2

Puerto R ico..............................
All banks.................................
Unit banks..........................
Banks operating branches.
Branches..................................
Virgin Islands.........................
All ban ks.................................
Unit banks..........................
Banks operating branches.
Branches..................................

3
3
3

98.2
97.1
96.9
100.0
100.0

100.0
100.0
100.0

4
4
h

3
3
3

BANKING

H aw aii........................................
All banks.................................
Unit banks..........................
Banks operating branches.
Branches..................................

W

1
1
68
8

98.2
97.2
97.0
100.0
100.0
96.1
96.1
96.1
100.0
100.0

3
3
3

O
F

Possession
A lask a.........................................
All ban ks.................................
Unit banks..........................
Banks operating branches.
Branches.................................

1
1

21
2

NUMBER

W ashington..............................
All ban ks................................
Unit banks..........................
Banks o-perating branches.
Branches..................................

1
1
1

100.0
100.0

100.0 .............
100.0

C
O
-3

<>
r
oo
T able 105.

N u m b e r OF OPERATING B A N K IN G OFFICES, JUNE 30, 1939

GROUPED ACCORDING TO INSURANCE STATUS AND CLASS OF BANK AND BY TYPE OF OFFICE AND AMOUNT OF DEPOSITS
Commercial banking offices

Mutual savings banking offices

Insured
Total

Insured

Non­
insured

Total

National

State

N ot
members
F. R .
System

N on­
insured

Insured

Total

N on­
insured

17,075

1,737

18,128

17,009

6,725

2,120

8,164

1,119

684

66

618

W ith deposits o f —
$100,000 or less.................................................
$100,000 to $250,000.......................................
$250,000 to $500,000......................................

1,019
3,157
3,564

706
2,841
3,418

313
316
146

1,019
3,153
3,557

706
2,840
3,415

35
423
1,101

11
92
232

660
2,325
2,082

313
313
142

4
7

1
3

3
4

$500,CO to $1,000,000...................................
O
$1,000,000 to $2 ,000,000................................
$2,000,000 to $5,000,000................................

3,519
2,812
2,190

3,414
2,733
2,040

105
79
150

3,495
2,756
2,053

3,408
2,722
2,024

1,603
1,527
1,171

371
387
453

1,434
808
400

87
34
29

24
56
137

6
11
16

18
45
121

$5,000,000 to $10,000,000..............................
$10,000,000 to $50,000,000............................
More than $50,000,000..................................
None or not available1....................................

772
566
129
1,084

666
433
113
711

106
133
16
373

664
430
106
895

656
422
105
711

396
265
71
133

169
111
31
263

91
46
3
315

8
8
1
184

108
136
23
189

10
11
8

98
125
15
189

Unit banks.......................................................
W ith deposits of—
$100,000 or less............................................
$100,000 to $250,000..................................
$250,000 to $500,000..................................

14,110

12,709

1,401

13,638

12,666

5,006

965

6,695

972

472

43

429

820
2,803
3,133

507
2,487
2,987

313
316
146

820
2,799
3,127

507
2,486
2,985

29
395
933

6
68
183

472
2,023
1,869

313
313
142

4
6

1
2

3
4

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

2,880
2.034
1,473

2,775
1,955
1,323

105
79
150

2,857
1,983
1,339

2,770
1,949
1,310

1,278
1,106
820

238
172
175

1,254
671
315

87
34
29

23
51
134

5
6
13

18
45
121

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

503
366
56
42

397
233
40
5

106
133
16
37

397
237
37
42

389
229
36
5

258
160
27

70
42
8
3

61
27
1
2

8
8
1
37

106
129
19

8
4
4

98
125
15




CORPORATION

18,812

INSURANCE

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

DEPOSIT

Total

Members F. R .
System

FEDERAL

All banking offices

4,343

1,719

1,155

1,469

199
354
430

199
354
430

6
28
168

5
24
49

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

639
778
717

639
778
717

638
773
714

638
773
714

325
421
351

133
215
278

180
137
85

$5,000,000 to $10,000,000.........................
$10,000,000 to $50,000.000.......................
More than $50,000,000..............................
None or not available1................................

269
200
73
1,042

269
200
73
706

336

267
193
69
853

267
193
69
706

138
105
44
133

99
69
23
260

30
19
2
313

1,027

911

116

947

9C5

197

162

546

9
57
99

9
57
99

9
57
99

9
57
99

1
1

103
86
96

103
86
96

103
86
96

103
86
96

3
10
32

6
21

85
91
56
345

85
91
56
229

83
88
55
271

83
88
55
229

40
42
33
36

24
31
20
59

19
15
2
134

Branches.......................................................
W ith deposits of—
$ 100,000 or less........................................
$100,000 to $250,000..............................
$250,000 to $500,000..............................

3,675

3,455

3,543

3,438

1,522

993

190
297
332

190
297
331

190
297
331

6
28
167

4
24
49

180
245
115

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

536
692
621

536
692
621

535
687
618

535
687
618

322
411
319

133
209
257

80
67
42

$5,000,000 to $10,000,000.....................
$10,000,000 to $50,000,000...................
More than $50,000,000..........................
None or not available1............................

184
109
17
697

184
109
17
477

184
105
14
582

184
105
14
477

98
63
11
97

75
38
3
201

11
4

189

923

190
297
332

23

100
70
43

$5,000,000 to $10,000,000.....................
$10,000,000 to $50,000,000...................
More than $50,000,000..........................
None or not available1............................

212

8
57
98

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

147

188
302
213

Head offices of banks operating
branches..........................................
W ith deposits of—
$100,000 or less........................................
$100,000 to $250,000..............................
$250,000 to $500,000..............................

20
2

20
2

179

1
1

5
3

2

7
4
189

189

74

42

42

OFFICES

4,490

199
354
431

BANKING

4,366

199
354
431

O
F

4,702

NUMBER

All offices of banks operating branches
W ith deposits of—
$100,000 or less.............................................
$100,000 to $250,000..................................
$250,000 to $500,000..................................

105

4
3
115

115

1 Deposits of head offices and of branches of noninsured banks operating branches, and of 228 insured banks operating branches, are not available separately.
N OTE:

For deposits of these banks, see Table 111.

Back figures— See the following Annual Reports:




1938, p. 136; 1937, p. 80; 1936, p. 112.

co

C
O

o
o
Table 106.

N u m b e r OF OPERATING B A N K S , JUNE 30, 1939

GROUPED ACCORDING TO INSURANCE STATUS AND CLASS OF BANK AND BY TYPE OF BANK AND AMOUNT OF DEPOSITS

Total

503

90.0

93.0

8.9

1
2

3
4

61.9
88.8
95.3

61.9
88.9
95.5

25.0
33.3

24
52
144

5
6
13

19
46
131

96.3
95.9
89.7

96.9
98.0
97.7

20.8
11.5
9.0

12
15
4
39

114
166
42

8
8
6

106
158
36

81.2
69.2
76.5
13.3

97.7
96.2
96.9
13.3

7.0
4.8
14.3

472

43

429

90.1

92.9

9.1

61.8
88.8
95.5

25.0
33.3

1,517

14,585

13,571

5,203

1,127

7,241

1,014

552

49

508
2,524
3,107

313
318
152

821
2,838
3,253

508
2,523
3,105

29
395
933

6
68
184

473
2,060
1,988

313
315
148

4
6

3,036
2,171
1,605

2,925
2,083
1,440

111
88
165

3,012
2,119
1,461

2,920
2,077
1,427

1,281
1,115
851

239
176
192

1,400
786
384

92
42
34

627
561
170
45

509
388
130
6

118
173
40
39

513
395
128
45

501
380
124
6

309
220
70

109
101
48
4

83
59
6
2

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

15,137

13,620

W ith deposits of—
(fclAA O O A lpaq
O T
$100 000 to $250,000.........................................
$250 000 to $500,000 .......................................

821
2,842
3,259

$500 000 to $1,000,000.....................................
$1 000 000 to $2,000,000..................................
$2*000 000 to $5,000,000 ................................
$5 000 000 to $10 000,000................................
$10 000 000 to $50,000,000..............................
More than $50 000,000.....................................

Mutual
savings
banks

14,110

12,709

1,401

13,638

12,666

5,006

965

6,695

972

W ith deposits of—
d" aa O O ni* Ipqq
*1
O
$100 000 to $250,000 ..................................
$250*000 to $500,000.....................................

820
2,803
3,133

507
2,487
2,987

313
316
146

820
2,799
3,127

507
2,486
2,985

29
395
933

6
68
183

472
2,023
1,869

313
313
142

4
6

1
2

3
4

61.8
88.7
95.3

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

2,880
2,034
1,473

2,775
1,955
1,323

105
79
150

2,857
1,983
1,339

2,770
1,949
1,310

1,278
1,106
820

238
172
175

1,254
671
315

87
34
29

23
51
134

5
6
13

18
45
121

96.4
96.1
89.8

97.0
98.3
97.8

21.7
11.8
9.7

$5 000 000 to $10 000,000 ..........................
$10 000 000 to $50 000,000 ........................
More than $50 000,000.................................

503
366
56
42

397
233
40
5

106
133
16
37

397
237
37
42

389
229
36
5

258
160
27

70
42
8
3

61
27
1
2

8
8
1
37

106
129
19

8
4
4

98
125
15

78.9
63.7
71.4
11.9

98.0
96.6
97.3
11.9

7.5
3.1
21.1




1

CORPORATION

Com ­
mer­
cial
banks

INSURANCE

N on­
All
insured banks

Insured

Total

Insured

Insured banks
as percentage of—

DEPOSIT

Insured
N ot
Members F . R .
members N on­
System
F . R . insured
National State System

Total

Total

All banks

N on­
insured

Mutual savings banks

FEDERAL

Commercial banks

All banks

B a n k s o p e r a tin g b ra n ch e s
W ith d e p o sits o f —
$100,000 or less...................
$100,000 to $250,000.........
$250,000 to $500,000.........

1,027

911

116

947

905

1
39
126

1
37
120

2
6

1
39
126

1
37
120

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

156
137
132

15C
128
117

6
9
15

155
136
122

150
128
117

$5,000,000 to $10,000,000.
$10,000,000 to $50,000,000
M ore than $50,000,000 . . .
N one or not available. . . .

124
195
114
3

112
155
90
1

12
40
24
2

116
158
91
3

112
151
88
1

For deposits of these banks, see Table 112.

Back figures— See the following Annual Reports:

546

1

1
37
119

42

80

2
6

3
9
31

1
4
17

146
115
69

5
8
5

1
1
10

51
60
43

39
59
40
1

22
32
5

4
7
3
2

8
37
23

6

88.7

95.6

100.0
94.9
95.2

100.0
94.9
95.2

1
1
10
4
2

74

96.2
93.4
88.6

96.8
94.1
95.9

8
33
21

90.3
79.5
78.9
33.3

96.6
95.6
96.7
33.3

O
F
BANKING
OFFICES

101




1938, p. 138; 1937, p. 82; 1936, p. 112.

162

NUMBER

NOTE:

197

o
to

T a b le 107.

N u m b e r OF OPERATING B a n k s , J u n e 30, 1939

GROUPED ACCORDING TO INSURANCE STATUS AND CLASS OF BAN K IN EACH STATE AND IN THE POSSESSIONS
Mutual savings banks

Insured
Total

Insured

Non­
insured

Total

Members F. R .
System

Total

National

State

N ot
members
F. R .
System

N on­
insured

Insured

Total

Non­
insured

1,517

14,585

13,571

5,203

1,127

7,241

1,014

552

49

503

13,616

1,487

14,551

13,567

5,203

1,127

7,237

984

552

49

503

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

34

4

30

34

4

4

30

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

216
12
214
209
144

208
12
208
202
137

8

216
12
214
209
144

208
12
208
202
137

67
5
49
101
78

16
2
7
15
12

125
5
152
86
47

8

C onnecticut....................................................
Delaware ......................................................
District of C olu m bia...................................
F lorida............................................................
Georgia
......................................................

193
46
22
164
347

102
42
22
161
266

91
4

102
42
22
161
266

53
15
9
52
52

5
4
4
4
18

44
23
9
105
196

18
2

3
81

120
44
22
164
347

3
81

Idaho
..........................................................
Illinois.............................................................
Indiana............................................................
Iowa
....................................................
K ansas............................................................

50
852
509
659
680

48
835
479
583
456

2
17
30
76
224

50
852
505
659
680

48
835
476
583
456

18
324
126
109
182

10
77
20
35
20

20
434
330
439
254

2
17
29
76
224

K entucky........................................................
Louisiana........................................................
M a in e..............................................................
M aryland........................................................
Massachusetts...............................................

408
146
102
189
392

373
145
67
177
193 |

35
1
35
12
199

408
146
70
177
200

373
145
61
175
193

96
30
39
63
126

13
7
5
11
29

264
108
17
101
38

35
1
9
2
7

United States and possessions— to ta l. . . .
United States . . . .
P ossession s...............
State
A la b a m a .....................
A r iz o n a ........................
A rk a n sa s.................
California ...............
Colorado
......................

6
7
7
73
2

73
2

4

3

1

32
12
192

6
2

26
10
192

CORPORATION




6
7
7

INSURANCE

13,620

15,103

DEPOSIT

15,137

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

FEDERAL

Commercial banks

All banks

M ichigan...........
M innesota.........
Mississippi.........
M issouri.............
M ontana............

463
681
205
629
113

431
649
194
590
113

32
32
11
39

463
680
205
629
113

431
648
194
590
113

82
192
24
87
43

129
13
1
56
24

220
443
169
447
46

32
32
11
39

N ebraska...........
N evada...............
New Hampshire
New Jersey. . . .
New M e x ic o ... .

426
11
107
389
41

367
11
56
372
40

59

426
11
64
365
41

367
11
56
359
40

136
6
52
226
22

13
1
1
51
5

218
4
3
82
13

59

51
17
1

New Y o r k .........
North Carolina.
North D akota. .
O h io....................
Oklahom a..........

888
227
172
705
396

740
220
159
686
382

148
7
13
19
14

754
227
172
702
396

736
220
159
683
382

437
42
50
244
214

125
9

O regon................
Pennsylvania. . .
Rhode Isla n d .. .
South Carolina.
South D a k o ta . .

74
1,096
32
150
166

72
1,065
16
109
165

2
31
16
41
1

73
1,089
23
150
166

71
1,063
16
109
165

Tennessee...........
T ex a s..................
U ta h ....................
V erm ont.............
Virginia..............

299
863
59
83
314

290
781
59
83
313

9
82

299
863
59
75
314

W ashington
W est V irginia. .
W isconsin...........
W yom in g...........

144
180
578
58

140
173
566
58

4
7
12

141
180
574
58

43
24

13

18
7
13
19
14

134

4

82
8

174
169
109
357
160

3

3

27
694
12
20
42

7
80
2
4
21

37
289
2
85
102

2
26
7
41
1

1
7
9

1
2

290
781
59
75
313

71
446
13
42
130

6
56
20

9
82
8

8

28

213
279
26
33
155

137
173
563
58

46
78
105
26

15
18
29
9

76
77
429
23

4
7
11

3

3

4

3

1

43

!

11
130

5
9

BANKING
1

OFFICES




Table 113.

8
6
1

O
F

For deposits of these banks,

1

NUMBER

N OTE:

1

1

O
CO

Table 108.

N

um ber

OF OPERATING COMM ERCIAL B A N K S , JUNE

30, 1939

O

GROUPED ACCORDING TO AMOUNT OF DEPOSITS AND BY INSURANCE STATUS IN EACH STATE AND IN THE POSSESSIONS
Banks with deposits of—
All
banks

$ 100,000

to
$250,000

$250,000
to
$500,000

$1,000,000 $2 , 000,000 $5,000,000 $10,000,000 More than None or
$500,000
not
to
to
to
to
to
$50,000,000 available
$1,000,000 $2 ,000,000 $5,000,000 $10,000,000 $50,000,000

821
508
313

2,838
2.523
315

3,253
3.105
148

3,012
2.920
92

2,119
2,077
42

1,461
1,427
34

513
501

395
380
15

128
124
4

United S ta te s.........
Insured ban k s. . . .
Noninsured banks.

14,551
13,567
984

819
508
311

2,836
2.523
313

3,249
3.105
144

3,009
2.920
89

2,112
2,075
37

1,452
1,425
27

509
501

393
380
13

127
124

Possessions..............
Insured b an k s........
Noninsured banks.

34
4
30

5

60
59

216
208

C alifornia.....................
Insured b an k s.............
Noninsured ban k s.. . .

209

22
0

Colorado..........................
Insured ban k s.............
Noninsured banks. . . .

144
137
7

C onnecticut..................
Insured b an k s.............
Noninsured banks. . . .
Delaware.........................
Insured ban k s.............
Noninsured banks. .. .
District of C o lu m b ia.
Insured ban ks.............
Noninsured banks. . . .




6
7

10
2
12
0
18

44
42

2
2
2
2
2

29
26
3

2
1
1
7

6
1

69
67

2
8
7
1

46
45

38
38

33
33

60
60

29
26
3

38
36

7

6
1

5
3

2

1

2
1
1
6
5

9
9

1
2
2

36
35

34
32

27
26

1
2
2
2
2

15
13

29
27

32
28
4

1

2

13
13

6

45

6

39

CORPORATION

214
208

39
38

1
1
1

Arizona............................
Insured b an k s.............
Noninsured banks. .. .
Arkansas.........................
Insured ban k s.............
Noninsured b a n k s... .

2
. ._ .

7

2

45
39

INSURANCE

State
A la ba m a..........................
Insured b an k s.............
Noninsured b a n k s...

1
2

DEPOSIT

14,585
13,571
1,014

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

FEDERAL

or less

$ 100,000

2
6
6

2
1
0
1
0

5
5

1
2
1
1
1
1
1

F lo r id a .......................
Insured ban ks. . . .
Noninsured banks.

164
161
3

5
4
1

26
26

32
32

40
39
1

31
30
1

15
15

7
7

7
7

1
1

G e o r g i a ....................
Insured ban ks. . . .
Noninsured banks.

347
266
81

79
32
47

98
80
18

64
64

44
42
2

26
26

15
15

3
3

2
2

2
2

I d a h o ..........................
Insured ban ks. . . .
Noninsured banks.

50
48
2

2
2

11
11

11
11

13
12
1

5
5

5
4
1

1
1

2
2

I llin o is .......................
Insured banks
Noninsured banks.

852
835
17

21
16
5

150
148
2

199
197
2

203
199
4

108
106
2

91
90
1

47
46
1

26
26

6
6

I n d ia n a .....................
Insured banks
Noninsured banks.

505
476
29

9
6
3

104
91
13

134
126
8

104
102
2

82
81
1

47
45
2

9
9

15
15

1
1

I o w a ............................
Insured banks
Noninsured banks.

659
583
76

10
3
7

121
95
26

218
196
22

166
155
11

98
93
5

25
24
1

11
11

6
6

K a n s a s .......................
Insured banks
Noninsured banks.

680
456
224

105
30
75

250
157
93

153
118
35

92
76
16

49
44
5

23
23

4
4

4
4

K e n t u c k y .................
Insured banks
Noninsured banks

408
373
35

29
15
14

113
101
12

95
93
2

85
79
6

53
52
1

20
20

6
6

6
6

1
1

L o u is ia n a .................
Insured banks
Noninsured banks

146
145
1

5
5

18
18

25
24
1

44
44

28
28

13
13

4
4

6
6

3
3

M a in e ........................
Insured banks
Noninsured banks

70
61
9

1
1

5
3
2

14
12
2

18
17
1

20
18
2

10
9
1

2
2

M a r y la n d .................
Insured banks
Noninsured banks.

177
175
2

1
1

22
22

43
43

39
39

35
35

18
18

9
9

9
7
2

1
1

M a s sa ch u se tts
Insured banks
Noninsured banks.

200
193
7

1
1

2
2

12
11
1

32
31
1

41
40
1

58
57
1

28
28

19
17
2

5
5

2
1
1

M ich ig an ..................
Insured banks
Noninsured banks.

463
431
32

5
1
4

62
54
8

139
128
11

106
104
2

63
61
2

48
48

19
19

13
12
1

4
4

4

M in n e s o t a ...............
Insured banks
Noninsured banks.

680
648
32

29
16
13

186
176
10

213
209
4

153
152
1

62
59
3

23
22
1

7
7

4
4

3
3

M is s is s ip p i...............
Insured banks
Noninsured banks.

205
194
11

15
13
2

38
36
2

53
50
3

50
46
4

29
29

13
13

6
6

1
1

1
1

4
4

NUMBER
O
F
BANKING
OFFICES

4

105




14
14

T a ble 108.

N u m b e r OF O p e r a t in g C o m m e r c ia l B a n k s , J u n e 30, 1939— Continued

GROUPED ACCORDING TO AMOUNT OF DEPOSITS AND BY INSURANCE STATUS IN EACH STATE AND IN THE POSSESSIONS
Banks with deposits o f -

All

$100,000
or less

banks

$100,000
to
$250,000

$250,000
to
$500,000

$500,000
$1,000,000 $2 ,000,000 $5,000,000 $10,000,000
None or
More than
to
to
to
to
not
to
$1,000,000 $2 ,000,000 $5,000,000 $10,000,000 $50,000,000 $50,000,000 available

135
132
3

94
93
1

53
53

37
37

17
17

10
10

M on ta n a...................
Insured banks
Noninsured banks.

113
113

2
2

27
27

31
31

28
28

9
9

11
11

3
3

2
2

Nebraska...................
Insured b an k s. . . .
Noninsured banks.

426
367
59

67
34
33

168
147
21

105
102
3

49
48
1

19
18
1

10
10

1
1

7
7

4
4

3
3

2
2

1
1

7
5
2

12
11
1

19
16
3

12
12

9
8
1

4
4

3
2
1

19
18
1

68
66
2

113
113

92
92

33
33

32
32

4
4

12
11
1

9
9

11
11

2
2

2
2

1
1

Nevada.......................
Insured b an k s. . . .
Noninsured banks.

1
1
1
1
1

6
6

1
1

New Hampshire. . .
Insured b an k s. . . .
Noninsured banks.

64
56

New Jersey...............
Insured ban k s. . . .
Noninsured banks.

365
359

New M exico.............
Insured ban ks. . . .
Noninsured banks.

41
40

New Y o rk .................
Insured b an k s. . . .
Noninsured banks.

754
736
18

3

28
25
3

100
99
1

171
170
1

166
165
1

154
149
5

62
62

3

38
37
1

32
29
3

North C arolin a.. . .
Insured b an ks. . . .
Noninsured banks.

20
2

227

14
11
3

47
45
2

53
53

41
40
1

39
39

21
21

5
4
1

5
5

2
2

7

North D ak o ta.........
Insured ban ks. . . .
Noninsured banks.

172
159
13

37
29
8

70
68
2

38
36
2

10
10

9
9

6
6

1
1

O h io............................
Insured ban k s. . . .
Noninsured banks.

702
683
19

4
2
2

76
67
9

166
159
7

181
180
1

134
134

87
87

28
28

17
17

O k lah om a................
Insured b an k s. . . .
Noninsured banks.

396
382
14

29
27
2

123
112
11

123
122
1

56
56

34
34

20
20

6
6

2
2




8
6

1
2
2

1

3
3

1
1
9
9
3
3 ! ............
!

CORPORATION

196
179
17

INSURANCE

81
63
18

DEPOSIT

629
590

FEDERAL

M issou ri...................
Insured banks
Noninsured banks.

15
15

12
12

4
3
1

1
1

1
1

2
2

53
50
3

148
146
2

264
257
7

260
256
4

238
238

62
61
1

38
37
1

14
14

3
3

5
1
4

5
4
1

3
3

4
2
2

2
2

25
24
1

22
18
4

12
12

8
7
1

2
2

2
2

75
75

41
41

13
12
1

8
g

5
5

2
2

1
1

29
27
2

97
92
g

67
67

53
52
1

28
27
1

12
12

3
3

8
8

2
2

79
56
23

211
186
25

212
197
15

164
159
5

87
86
1

49
48
1

21
20
1

26
26

3
3

7
7

17
17

18
18

8
8

2
2

1
1

6
6

3
3

15
15

18
18

19
19

18
18

2
2

1,089
1,063
26

4
1
3

Rhode Islan d..........
Insured ban ks. . . .
Noninsured banks.

23
16
7

1
1

South Carolina. . . .
Insured ban ks. . . .
Noninsured banks.

150
109
41

43
17
26

36
27
9

South D akota.........
Insured ban ks. . . .
Noninsured banks.

166
165

21
21

Tennessee.................
Insured ban k s. . . .
Noninsured banks.

299
290
9

T exas..........................
Insured ban ks. . . .
Noninsured banks.

863
781
82

U tah ...........................
Insured ban k s. . . .
Noninsured banks.

59
59

1

1

V e rm on t...................
Insured b an k s. . . .
Noninsured banks.

8
3
5

11
11

BANKING

Pennsylvania..........
Insured ban ks. . . .
Noninsured banks.

2

O
F

17
17

73
71

NUMBER

20
20

1

Oregon.......................
Insured ban k s. . . .
Noninsured banks.

314
313

4
4

43
42
1

71
71

87
87

61
61

31
31

10
10

5
5

2
2

W ash in gton .............
Insured banks
Noninsured banks.

141
137
4

6
5
1

30
29
1

42
42

27
27

14
14

8
7
1

8
7
1

4
4

2
2

W est V irgin ia.........
Insured banks
Noninsured banks.

180
173
7

4
1
3

18
17
1

42
40
2

51
51

33
33

23
22
1

5
5

4
4

W isconsin.................
Insured banks
Noninsured banks.

574
563

1
1

10
9
1

109
107
2

144
140
4

147
143
4

94
94

52
52

11
11

6
6

W y o m in g .................
Insured banks
Noninsured b a n k s.,

58
58

3
3

6
6

16
16

18
18

8
8

4
4

3
3

For deposits of these banks, see Table 114.

Back figures— See the following Annual Reports:




1938, p. 140; 1937, p. 84; 1936, p. 114; 1935, p. 132.

1
1

107

NOTE:

1

OFFICES

Virginia.....................
Insured ban k s. . . .
Noninsured banks.

18
0

T a ble 109.

N u m b e r OF OPERATING M U T U A L SAVINGS B A N K S , JU NE 30, 1939

GROUPED ACCORDING TO AMOUNT OF DEPOSITS AND BY INSURANCE STATUS IN EACH STATE

banks

Noninsured banks................................................................

$250,000
to
$500,000

4
1
3

6
2
4

$500,000
$1,000,000 $2 ,000,000 $5,000,000 $10,000,000
M ore than
to
to
to
to
to
$1,000,000 $2 ,000,000 $5,000,000 $10,000,000 $50,000,000 $50,000,000

24
5
19

52
6
46

73

3

73

3

552
49
503

144
13
131

114
8
106

8

24

17

20

1

8

24

17

20

1

2

166
8
158

1

1

Delaware...............................................................................
Insured b an k s...................................................................
Noninsured banks............................................................

2

Indiana ...............................................................................
Insured ban ks...................................................................
Noninsured banks............................................................

4
3
1

M ain e .....................................................................................
Insured ban k s...................................................................
Noninsured banks............................................................

32
6
26

Maryland ...........................................................................
Insured banks..................................................................
Noninsured b a n k s ..........................................................

12
2
10

M assachusetts...................................................................
Insured ban ks...................................................................
Noninsured banks............................................................

192

2

7

192

2

7

M inn esota...........................................................................
Insured ban ks...................................................................
Noninsured banks............................................................

1
1

New H am pshire................................................................
Insured banks...................................................................
Noninsured banks............................................................

43

7

10

18

4

4

43

7

10

18

4

4

1

1
1

2
1

11
2
9

4
1
3

2

1
1
1
1
1

5
3
2

9
9

2

2

1

4

2

2

1

4

2

13

55

50

59

6

13

55

50

59

6

2
2

1
1

CORPORATION




1
1
1

42
6
36

INSURANCE

State
C onnecticut........................................................................
Insured ban ks...................................................................
Noninsured banks............................................................

$100,000
to
$250,000

DEPOSIT

United States— to ta l...........................................................

$100,000
or
less

FEDERAL

Banks with deposits of—

N ew J e rs e y ..................................................................
Insured ban ks..................................................................
Noninsured banks...........................................................

24
13
11

N ew Y o r k .............................................................................
Insured ban ks..................................................................
Noninsured banks...........................................................

134
4
130

5
5

O h io ......................................................
Insured ban ks..................................................................
Noninsured banks...........................................................

3
3

1
1

O r e g o n ..................................................................................
Insured ban k s..................................................................
Noninsured banks...........................................................

1
1

P e n n sy lv a n ia ......................................................................
Insured ban ks..................................................................
Noninsured banks...........................................................

7
2
5

R h o d e I s la n d .............................................................
Insured ban k s..................................................................
Noninsured banks...........................................................

9

1

1

1

5

1

9

1

1

1

5

1

1
1

2
2

25
25
1
1

57
1
56

25
3
22
1
1

2

1
1

2
2

2
2
2
2

1
1

1

1938, p. 144; 1937, p. 88; 1936, p. 118; 1935, p. 140.

1
1

1
1

3

1
1

OFFICES

1

3

2

2
2

For deposits of these banks, see Table 115.




22
22

1

BANKING

NOTE:

Back figures— See the following Annual Reports:

1

O
F

4
3
1

10
5
5

1

3
3

W is c o n s in ............................................................................
Insured ban ks......................................................
Noninsured banks...........................................................

7
4
3

1

8
8

W a s h in g t o n ........................................................................
Insured ban ks..................................................................
Noninsured banks...........................................................

3
2
1

2
1
1

NUMBER

V e r m o n t ...............................................................................
Insured ban k s..................................................................
Noninsured banks...........................................................

1
1

O

T a b le 110.

NUM BER OF COMMERCIAL BANKS OPERATING BRANCHES AND NUMBER OF BRANCHES, JUNE 30, 1939

BANKS OPERATING BRANCHES GROUPED ACCORDING TO CHARACTER OF BRANCH SYSTEM AND BRANCHES GROUPED ACCORDING TO
LOCATION OF BRANCH AND BY POPULATION OF CENTER IN WHICH LOCATED AND STATE
Location of branch

Character of branch system

United S ta tes...........................................

All
branches

In head
office
city

Elsewhere
in head
office
county

Elsewhere
in head
office
State

936

281

423

239

3,543

1.630

762

281

228

3,488

1.630

749

1,102

55

21
42
57

7
22
36

124
275
299

1

42
39

85
174
165

100

134

101

3
4

74
33

30
22
15

353
239
181

3
5
6

117
68
48

233
166
127

10.000 to 25,000.
25.000 to 50,000 .
50.000 or m ore. .

72
61
346

14
26
233

31
19
45

27
16
64

164
109
1,799

18
40
1,557

39
19
47

107
50
188

13
13
30
2
26

C onnecticut...............
D elaware......................
District of C olu m bia.
F lorid a ..........................
Georgia.........................
Id a h o . .
Illin ois..
Indiana.
Iow a . . .
K ansas.




12
18
5
535

20
26
15
856

3
4
14
35

11

27
80

34

4
2
30

61
155

24

1

37
114

CORPORATION

132
99
52

INSURANCE

28
64
93

1
3

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

State
Alabama. .
A rizon a.. .
Arkansas..
California.
C olora d o..

Outside
head
office
State1

1,144

423

11

947

Possessions.
In centers with population o f Less than 2 5 0 .........................................
250 to 500 ................................................
500 to 1,000...........................................

In more
than one
State1

State
wide

DEPOSIT

United States and possessions— to ta l.

County
wide

City
wide

FEDERAL

All
branch
systems

K en tu cky.........
Louisiana.........
M aine...............
M aryland.........
Massachusetts.

13
27
20
25
42

5
6
3
8
29

6
20

M ichigan. .
M innesota.
Mississippi.
M issouri. . .
M on ta n a ...

48
2
24

19
2

22

W ashington. . .
W est V irginia.
W isconsin........
W yom in g .........

2

64
4

10
14

12

23

33
3

2

2
11
6

1

6

12
25

2
11
2
115
6
642
124
19
170

126

23
31
11
39

17
12
12
71

'2

6

80

23

126

3
13

1

1

2
14
84

52
3
7
19
21

38
23
29

14

1
1

602
9

28
4

66

1

51

2
85

101

4

2
5
19

20

17

1

16

9
32

3
18

17

3

60

18

83

25

21

1

1 Out-of-State branches are operated as follows: 1 bank in California operates 1 branch in Oregon and 2 branches in Washington; 1 bank in New Jersey operates 1 branch
t Pennsylvania; and 2 banks m N ew York operate 1 branch in Massachusetts3 and 2 branches in Pennsylvania.
Back figures— See the following Annual Reports: 1938, p. 134; 1937, p. 90; 1936, p. 120.




OFFICES

Tennessee.
T e x a s. . . .
U ta h .........
Verm ont. .
Virginia. . .

12

26

BANKING

O regon................
Pennsylvania. . .
Rhode Island. . .
South C arolina.
South D akota. .

35

1
2
1

128
6

2
3
24
20
2

O
F

New Y o r k .........
North Carolina.
North D a k o ta . .
O h io ....................
Oklahom a..........

16

6
28
28
21
26

162
6
42

12
11

20
22
4
36
87

NUMBER

N ebraska.............
N evada.................
N ew H am pshire.
New Jersey.........
N ew M ex ico........

28
53
56
77
115

to

DEPOSITS OF B A N K IN G OFFICES
D e p o s i t s OF OPERATING B A N K IN G OFFICES, JUNE 30, 1939

FEDERAL

T a b le 111.

OFFICES GROUPED ACCORDING TO INSURANCE STATUS AND CLASS OF BANK AND BY TYPE OF OFFICE AND AMOUNT OF DEPOSITS
Commercial banking offices
Insured
Insured

N on­
insured

Total
Total

National |

State

A/Tnfnol coTnnrra KonL-i*nnr
N ot
members
F. R .
System

N on­
insured

Total

N on­
insured

1,246,009

9,184,415

(^In thousancIs of dollars)
A ll b a n k in g o f f i c e s .................. 64,415,310 53,572,763 10,842,547 53,984,886 52,326,754 29,415,683 16,457,571

6,453,500

1,658,132 10,430,424

68,976
547,507
1,293,321

50,875
497,239
1,242,061

18,101
50,268
51,260

68,976
546,953
1,290,896

50,875
497,122
1,240,918

2,703
79,295
413,101

846
17,367
86,624

47,326
400,460
741,193

18,101
49,831
49,978

554
2,425

117
1,143

437
1,282

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

2,523,863
3,976,155
6,679,734

2,449,497
3,863,042
6,190,513

74,366
113,113
489,221

2,505,304
3,891,989
6,229,208

2,444,758
3,845,852
6,142,290

1,168,613
2,153,031
3,571,973

273,675
559,296
1,391,027

1,002,470
1,133,525
1,179,290

60,546
46,137
86,918

18,559
84,166
450,526

4,739
17,190
48,223

13,820
66,976
402,303

$5,000,000 to $10,000,000. . . 5,340,819 4,581,857
11,185,866 8,389,276
$10,000,000 to $50,000,000
M ore than $50,000,000......... 19,827,065 18,395,201
12,972,004 7,913,202
jiVciilctble^

758,962 4,561,981 4,505,651 2,720,244
2,796,590 8,369,697 8,171,642 5,144,197
1,431,864 17,658,058 17,514,444 10,963,645
5,058,802 8,861,824 7,913,202 3,198,881

1,172,214
2,225,988
6,324,073
4,406,461

613,193
801,457
226,726
307,860

56,330
198,055
143,614
948,622

778,838
2,816,169
2,169,007
4,110,180

76,206
217,634
880,757

702,632
2,598,535
1,288,250
4,110,180

U n it b a n k s
..................... 30,149,072 24,365,327
W ith d e p o sits o f—
37.378
55.479
$100 000 or less
436,399
486,667
$100,000 to $250,000.........
1,082,756
$250,000 to $500,000 . . . . 1,134,016

5,783,745 24,557,590 23,848,080 15,552,415

3,619,308

4,676,357

709,510

5,591,482

517,247

5,074,235

18.101
50,268
51,260

55,479
486,113
1,131,957

37,378
436,282
1,081,979

2,273
74,003
348,920

459
12,493
68,013

34,646
349,786
665,046

18,101
49,831
49,978

554
2,059

117
777

437
1,282

$500,000 to $1,000,000___ 2,055,765
$1,000,000 to $2 ,000,000.. 2,872,998
$2 ,000,000 to $5 ,000,000. . 4,465,641

1,981,399
2,759,885
3,976,420

74,366
113,113
489,221

2,037,708
2,796,543
4,022,669

1,977,162
2,750,406
3,935,751

929,857
1,561,367
2,484,204

172,058
245,920
532,713

875,247
943,119
918,834

60,546
46,137
86,918

18,057
76,455
442,972

4,237
9,479
40,669

13,820
66,976
402,303

3,475,463
7,152,652
8,450,391

2,716,501
4,356,062
7,018,527

758,962
2,796,590
1,431,864

2,710,990
4,478,927
6,837,204

2,654,660
4,280,872
6,693,590

1,776,172
3,046,979
5,328,640

478,639
796,561
1,312,452

399,849
437,332
52,498

56,330
198,055
143,614

764,473
2,673,725
1,613,187

61,841
75,190
324,937

702,632
2,598,535
1,288,250

$5,000,000 to $10,000,000.
$10,000,000 to $50,000,000
M ore than $50,000,000 . . .




CORPORATION

W ith d e p o sits o f —
$100 000 or less
$100,000 to $250,000.............
$250,000 to $500,000.............

INSURANCE

Insured

DEPOSIT

Total

Members F. R .
System

All offices of banks operat­
ing branches............. 34,266,238 29,207,436
W ith deposits of—
13,497
13,497
$100,000 or less...................
60,840
60,840
$100,000 to $250,000........
159,305
159,305
$250,000 to $500,000........
468,098
$500,000 to $1,000,000___
$1,000,000 to $2 ,000,000. . 1,103,157
$2,000,000 to $5,000,000.. 2,214,093

468,098
1,103,157
2,214,093

Head offices of banks
operating branches. 13,069,577 13,069,577
W ith deposits of—746
746
$100,000 or less.............
10,488
$100,000 to $250,000. .
10,488
36,195
36,195
$250,000 to $500,000. .

728,762

13,497
60,840
158,939

430
5,292
64,181

387
4,874
18,611

12,680
50,674
76,147

366

467,596
1,095,446
2,206,539

238,756
591,664
1,087,769

101,617
313,376
858,314

127,223
190,406
260,456

502
7,711
7,554

502
7,711
7,554

1,850,991
1,850,991
3,890,770 3,890,770
10,820,854 10,320,854
5,058,802 8,861,824 7,913,202

944,072
2,097,218
5,635,005
3,198,881

693,575
1,429,427
5,011,621
4,406,461

213,344
364,125
174,228
307,860

14,365
142,444
555,820
4,110,180

14,365
142,444
555,820

12,726,185 12,726,185

6,099,697

5,674,978

951,510

343,392

343,392

82

4,110,180

366

467,596
1,095,446
2,206,539

664
10,488
35,770

1,777,143

746
10,488
36,195

746
10,488
36,195

425

948,622

948,622

4,110,180

DEPOSITS

$5,000,000 to $10,000,000 . 1,865,356 1,865,356
$10,000,000 to $50,000,000 4,033,214 4,033,214
More than $50,000,000 . . . 11,376,674 11,376,674
12,972,004 7,913,202
N ot available1.................

4,838,942

13,497
60,840
158,939

29,427,296 23,478,674 13,863,268 12,838,263

O
F

73,880
118,371
322,252

73,880
118,371
322,252

2,532
13,456
109,994

7,797
80,121

71,348
97,118
132,137

$5,000,000 to $10,000,000
$10,000,000 to $50,000,000
More than $50,000,000

609,200
2,040,104
9,858,341

609,200
2,040,104
9,858,341

594,835
1,954,161
9,615,257

594,835
1,954,161
9,615,257

281,379
956,574
4,735,337

175,375
705,911
4,705,692

138,081
291,676
174,228

14,365
85,943
243,084

14,365
85,943
243,084

Branches.....................
W7
ith deposits of—
$100,000 or less..........
$100,000 to $250,000.
$250,000 to $500,000.

8,224,657

8,224,657

7,839,287

7,839,287

4,564,690

2,756,824

517,773

385,370

385,370

12,751
50,352
123,110

12,751
50,352
123,110

12,751
50,352
122,744

12,751
50,352
122,744

430
5,292
63,756

305
4,874
18,611

12,016
40,186
40,377

366

366

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

394,218
984,786
1,891,841

394,218
984,786
1,891,841

393,716
977,075
1,884,287

393,716
977,075
1,884,287

236,224
578,208
977,775

101,617
305,579
778,193

55,875
93,288
128,319

502
7,711
7,554

502
7,711
7,554

$5,000,000 to $10,000,000
$10,000,000 to $50,000,000
More than $50,000,000 . .

1,256,156
1,993,110
1,518,333

1,256,156
1,993,110
1,518,333

1,256,156
1,936,609
1,205,597

1,256,156
1,936,609
1,205,597

662,693
1,140,644
899,668

518,200
723,516
305,929

75,263
72,449

56,501
312,736

56,501
312,736

1 Deposits of head offices and branches of noninsured banks operating branches and of 228 insured banks operating branches are not available separately.
figures for 39 noninsured commercial banks for which data are not available.
NOTE:

OFFICES

73,880
118,371
322,252

BANKING

73,880
118,371
322,252

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

Excludes

For the number of banks on which these deposit figures are based, see Table 105.




CO

T able 112.

DEPOSITS OF OPERATING BANKS, JUNE 30, 1939

Commercial banks

FEDERAL

BANKS GROUPED ACCORDING TO INSURANCE STATUS AND CLASS OF BANK AND BY TYPE OF BANK AND AMOUNT OF DEPOSITS

Mutual savings banks

Insured
Insured

Non­
insured1

Total
Total

Members F . R .
System
National

State

N on­
insured1

6,453,500

1,658,132 10,430,424

N on­
insured

Total

(In thousands of dollars)
All b a n k s.

64,415,310 53,572,763 10,842,547 53,984,886 52,326,754 29,415,683 16,457,571

9,184,415

554
2,059

117
777

437
1,282

63,776
57,898
105,754

18,980
78,301
473,553

4,237
9,479
40,669

14,743
68,822
432,884

55,558
494,405
1,182,072

37,457
443,778
1,128,320

18,101
50,627
53,752

55,558
493,851
1,180,013

37,457
443,661
1,127,543

2,273
74,003
348,920

459
12,493
68,398

34,725
357,165
710,225

18,101
50,190
52,470

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

2,167,514
3,067,025
4,914,547

2,088,995
2,940,305
4,375,909

78,519
126,720
538,638

2,148,534
2,988,724
4,440,994

2,084,758
2,930,826
4,335,240

931,767
1,574,399
2,601,166

172,723
252,193
597,304

980,268
1,104,234
1,136,770

$5,000,000 to $10,000,000.
$10,000,000 to $50,000,000
More than $50,000,000 . . .

4,403,806 3,555,818
11,848,866 7,949,254
36,281,517 31,052,927

847,988 3,579,398 3,493,977 2,158,603
779,587
3,899,612 8,159,046 7,764,258 4,500,934 2,170,331
5,228,590 30,938,768 30,109,034 17,223,618 12,404,083

555,787
1,092,993
481,333

85,421
394,788
829,734

824,408
3,689,820
5,342,749

61,841
184,996
943,893

762,567
3,504,824
4,398,856

Unit banks.......................
W ith deposits of—
$100,000 or less.............
$100,000 to $250,000. .
$250,000 to $500,000. .

30,149,072 24,365,327

5,783,745 24,557,590 23,848,080 15,552,415

3,619,308

4,676,357

709,510

5,591,482

517,247

5,074,235

55.479
486,667
1,134,016

37.378
436,399
1,082,756

18,101
50,268
51,260

55,479
486,113
1,131,957

37,378
436,282
1,081,979

2,273
74,003
348,920

459
12,493
68,013

34,646
349,786
665,046

18,101
49,831
49,978

554
2,059

117
777

437
1,282

$500,000 to $1,000,000. . .
$1,000,000 to $2 ,000,00 0 .
$2,000,000 to $5,000,000.

2,055,765
2,872,998
4,465,641

1,981,399
2,759,885
3,976,420

74,366
113,113
489,221

2,037,708
2,796,543
4,022,669

1,977,162
2,750,406
3,935,751

929,857
1,561,367
2,484,204

172,058
245,920
532,713

875,247
943,119
918,834

60,546
46,137
86,918

18,057
76,455
442,972

4,237
9,479
40,669

13,820
66,976
402,303

$5,000,000 to $10,000,000
$10,000,000 to $50,000,000
More than $50,000,000 . .

3,475,463
7,152,652
8,450,391

2,716,501
4,356,062
7,018,527

758,962
2,796,590
1,431,864

2,710,990
4,478,927
6,837,204

2,654,660
4,280,872
6,693,590

1,776,172
3,046,979
5,328,640

478,639
796,561
1,312,452

399,849
437,332
52,498

56,330
198,055
143,614

764,473
2,673,725
1,613,187

61,841
75,190
324,937

702,632
2,598,535
1,288,250




CORPORATION

1,246,009

W ith deposits of—
$100,000 or less...................
$100,000 to $250,000.........
$250,000 to $500,000.........

INSURANCE

Not
members
F. R.
System

DEPOSIT

Total

B an k s o p e r a tin g b ra n ch e s 34,266,238 29,207,436
W ith d e p o sits o f —
79
$100,000 or less...................
79
7,379
$100,000 to $250,000.........
7,738
45,564
$250,000 to $500,000.........
48,056
$500,000 to $1,000,000. . . .
$1,000,000 to $2 ,000,000. .
$2,000,000 to $5,000,000. .

111,749
194,027
448,906

107,596
180,420
399,489

928,343
839,317
$5,000,000 to $10,000,000.
$10,000,000 to $50,000,000 4,696,214 3,593,192
More than $50,000,000 . . . 27,831,126 24,034,400

1,777,143

948,622

385

79
7,379
45,179

665
6,273
64,591

105,021
161,115
217,936

3,230
11,761
18,836

923
1,846
30,581

89,026
839,317
382,431
868,408
300,948
1,103,022 3,680,119 3,483,386 1,453,955 1,373,770
3,796,726 24,101,564 23,415,444 11,894,978 11,091,631

155,938
655,661
428,835

29,091
196,733
686,120

59,935
1,016,095
3,729,562

359
2,492

79
7,738
48,056

79
7,379
45,564

4,153
13,607
49,417

110,826
192,181
418,325

107,596
180,420
399,489

1,910
13,032
116,962

NOTE:

For the number of banks on which these deposit figures are based, see Table 106.

4,110,180

923
1,846
30,581
109,806
618,956

59,935
906,289
3,110,606

O
F
BANKING
OFFICES




1938, p. 150; 1937, p. 96; 1936, p. 125; 1935, pp. 150-54.

4,838,942

DEPOSITS

1 Excludes figures for 39 noninsured commercial banks for which data are not available.
Back figures— See the following Annual Reports:

728,762

359
2,492

5,058,802 29,427,296 28,478,674 13,863,268 12,838,263

16
1

T able 113.

D EPOSITS OF OPERATING B A N K S , JUNE 30, 1939

BANKS GROUPED ACCORDING TO INSURANCE STATUS AND CLASS OF BANK IN EACH STATE AND IN THE POSSESSIONS
(In thousands of dollars)
Commercial banks

FEDERAL

All banks

Mutual savings banks

Insured
Insured

Total
Total

Members F . R .
System
National

N ot
members
F. R .
System

N on­
insured1

T otal

Insured

N on­
insured

64,415,310 53,572,763 10,842,547 53,984,886 52,326,754 29.415.683 16.457.571

6,453,500

1,658,132 10.430.424

1.246.009

9.184.415

U n ited S t a t e s ......................

64,226,705 53,565,410 10,661,295 53,796,281 52,319,401 29.415.683 16.457.571

6,446,147

1,476,880 10.430.424

1.246.009

9.184.415

188,605

7,353

181,252

188,605

7,353

S ta te
A labam a..............................
A rizona................................
Arkansas.............................
California............................
C olorado..............................

298,371
86,509
176,452
4,132,551
325,166

296,211
86,509
175,706
4,098,357
323,309

2,160

298,371
86,509
176,452
4,132,551
325,166

296,211
86,509
175,706
4,098,357
323,309

213,566
59,404
103,151
2,906,103
267,852

C onnecticut........................
Delaware............................
District of Columbia. . . .
F lorid a .................................
G eorgia................................

1,306,461
212,654
323.682
393,291
453,539

499,606
173,303
323,682
391,101
447,964

806,855
39,351
2,190
5,575

580,405
173,625
323,682
393,291
453,539

499,606
173,303
323,682
391,101
447,964

Id a h o ...................................
Illinois..................................
Indiana................................
I o w a .....................................
K ansas.................................

91.722
4,440,838
911,497
640,938
400,081

88.474
4,423',653
892,714
608.656
351,669

3.248
17,185
18,783
32,282
48,412

91.722
4,440,838
891,903
640,938
400,081

K entucky............................
Louisiana............................
M aine..................................
M aryland............................
Massachusetts...................

463,265
504,653
333,253
894,150
4,131,714

454,636
504,305
203,891
604.657
1,922,808

8,629
348
129,362
289,493
2,208,906

463,265
504,653
205,269
669,618
1,980,989




746
34,194
1,857

7,353

181,252

39,245
9,479
23,018
752,862
30,097

43,400
17,626
49,537
439,392
25,360

2,160

287,209
17,665
186,927
302,328
304,341

68,675
105,577
97,253
11,955
62,858

143,722
50,061
39,502
76,818
80,765

80,799
322

88.474
4,423^653
879,489
608,656
351,669

45.610
3,232,356
496,881
236,730
235,541

33,236
830,113
92,830
96,422
21,051

9,628
361,184
289,778
275,504
95,077

3,248
17,185
12,414
32,282
48,412

454,636
504,305
189,169
603,132
1,922,808

246,214
350,310
120,570
348,627
1,452,479

65,990
57,367
32,845
134,385
350,923

142,432
96,628
35,754
120,120
119,406

8,629
348
16,100
66,486
58,181

746
34,194
1,857
726,056
39,029

726,056
39,029

2,190
5,575

19,594

13,225

6,369

127,984
224,532
2,150,725

14,722
1,525

113,262
223,007
2,150,725

CORPORATION

P o s s e s s io n s ...........................

INSURANCE

U n ited S ta tes a n d p osses
s io n s — t o t a l .....................

DEPOSIT

Total

Non­
insured1

M ich igan...........
M innesota.........
Mississippi.........
M issouri.............
M ontana............

1,494,957
969,593
191,788
1,501,476
135,577

1,473,517
959,457
187,216
1,496,090
135,577

N ebraska...........
N eva d a ...............
New Hampshire
New Jersey
New M e x ic o .. . .

311,547
36,696
281,764
2,046,252
59,321

303,076
36,696
81,792
1,844,102
58,862

22,169,345 16,587,245
431,245
423,648
88,723
67,674
2,458,968 2,454,436
458,920
456,803

1,494,957
903,484
191,788
1,501,476
135,577

1,473,517
893,348
187,216
1,496,090
135,577

815,244
699,960
65,163
671,843
76,489

457,240
10,830
426
594,870
39,903

201,033
182,558
121,627
229,377
19,185

8,471

311,547
36,696
88,452
1,703,753
59,321

303,076
36,696
81,792
1,701,452
58,862

245,266
33,915
71,858
800,958
47,106

5,263
407
1,376
550,777
2,138

52,547
2,374
8,558
349,717
9,618

5,582,100 16,654,490 15,839,717
7,597
431,245
423,648
21,049
88,723
67,674
4,532 2,337,220 2,332,688
2,117
458,920
456,803

6,226,339
98,345
46,855
1,069,923
405,034

8,975,044
167,255

199,972
202,150
459

21,440
10,136
4,572
5,386

66,109

66,109

6,660
2,301
459

193,312
342,499

142,650

193,312
199,849

814,773
7,597
21,049
4,532
2,117

5,514,855

747,528

4,767,327

917,174
5,445

638,334
158,048
20,819
345,591
46,324

121,748

121,748

2,286
593,905
178,173

2,286
6,868

57,483

57,483

67,659

67,659

4,475

4,206

8,471

4,211
643,247
241,724
7,645
513

298,106
4,753,430
301,880
140,049
89,201

293,895
4,697,220
238,329
132,404
88,688

260,575
2,851,323
93,841
73,934
55,346

3,838
1,224,751
138,072
9,272
10,125

29,482
621,146
6,416
49,198
23,217

4,211
56,210
63,551
7,645
513

Tennessee..........
T ex a s..................
U ta h ...................
V erm ont.............
Virginia..............

520,309
1,475,143
149,133
165,858
595,272

517,647
1,452,399
149,133
165,858
595,124

2,662
22,744

520,309
1,475,143
149,133
108,375
595,272

517,647
1,452,399
149,133
108,375
595,124

388,557
1,290,551
68,464
55,651
363,882

38,938
40,387
53,065

2,662
22,744

99,694

90,152
121,461
27,604
52,724
131,548

W ashington . . . .
W est V irginia. .
W isconsin..........
W y om in g ...........

540,579
289,009
913,547
63,866

530,296
285,011
908,984
63,866

10,283
3,998
4,563

472,920
289,009
909,072
63,866

462,637
285,011
904,778
63,866

409,172
157,603
511,891
46,731

23,539
64,863
102,154
4,544

29,926
62,545
290,733
12,591

10,283
3,998
4,294

148

1 Excludes figures for 39 noninsured commercial banks for which data are not available.
NOTE:

For the number of banks on which these deposit figures are based, see Table 107.

Back figures— See the following Annual Reports:




1938, p. 152; 1937, p. 98; 1936, p. 126; 1935, p. 150; 1934, p. 182.

587,037
178,173

148

269

OFFICES

296,181
4,704,088
238,329
132,404
88,688

BANKING

300,392
5,347,335
480,053
140,049
89,201

O
F

O regon................
Pennsylvania. . .
Rhode Isla n d .. .
South Carolina.
South D a k o ta . .

DEPOSITS

N ew Y o r k .........
N orth Carolina.
N orth D akota. .
O h io ....................
O klahom a..........

21,440
10,136
4,572
5,386

T a b le 114.

DE POSITS OF OPERATING COMMERCIAL B A N K S , JU N E 30, 1939

00

BANKS GROUPED ACCORDING TO AMOUNT OF DEPOSITS AND BY INSURANCE STATUS IN EACH STATE AND IN THE POSSESSIONS
Banks with deposits of—
All
banks

$100,000
or
less

$100,000
to
$250,000

$250,000
to
$500,000

$500,000
to
$1,000,000

$1,000,000
to
$2 ,000,000

$2,000,000
to
$5,000,000

$5,000,000
to
$10,000,000

$10,000,000
to
$50,000,000

More than
$50,000,000

493,851
443,661
50,190

1,180,013
1,127,543
52,470

2,148,534
2,084,758
63,776

2,988,724
2,930,826
57,898

4,440,994
4,335,240
105,754

3,579,398
3,493,977
85,421

8,159,046
7,764,258
394,788

30,938,768
30,109,034
829,734

United S ta tes.........
Insured ban ks. . . .
Noninsured banks.

53,796,281
52,319,401
1,476,880

55,400
37,457
17,943

493,533
443,661
49,872

1,178,418
1,127,543
50,875

2,146,340
2,084,758
61,582

2,979,588
2,928,006
51,582

4,413,398
4,330,707
82,691

3,552,421
3,493,977
58,444

8,089,737
7,764,258
325,479

30,887,446
30,109,034
778,412

Possessions..............
Insured ban ks. . . .
Noninsured banks.

188,605
7,353
181,252

158

318

1,595

2,194

51,322

1,595

2,194

27,596
4,533
23,063

69,309

318

9,136
2,820
6,316

26,977

158

26,977

69,309

51,322

298,371
296,211
2,160

1,267
1,238
29

10,600
9,731
869

21,722
21,274
448

27,748
26,934
814

27.040
27.040

41.831
41.831

10.976
10.976

95.235
95.235

61.952
61.952

266
266

1.692
1.692

1.029
1.029

19.741
19.741

9.213
9.213

54.568
54.568

State
A la ba m a..........................
Insured b an k s.............
Noninsured b a n k s... .

86.509
86.509

Arkansas.........................
Insured b an k s.............
Noninsured b a n k s... .

176,452
175,706
746

1,804
1,627
177

11,594
11,331
263

16,657
16,351
306

25.256
25.256

25,122
25,122

13.479
13.479

20,634
20,634

61.906
61.906

California.......................
Insured b an k s.............
Noninsured b a n k s... .

4,132,551
4,098,357
34,194

179
99
80

1,547
1,349
198

12.655
12.655

43.458
43.458

52,688
51,293
1,395

105,465
96,869
8,596

77,073
71,070
6,003

254,809
236,887
17,922

3.584.677
3.584.677

Colorado..........................
Insured b an k s.............
Noninsured b a n k s... .

325,166
323,309
1,857

515
444
71

5,187
4,779
408

14,925
14,132
793

18,796
18,211
585

30.726
30.726

24.564
24.564

35.941
35.941

135.446
135.446

59.066
59.066

Connecticut...................
Insured b an k s.............
Noninsured b a n k s... .

580,405
499,606
80,799

6

1,278
1,125
153

3,786
2,078
1,708

11,269
9,748
1,521

44,960
41,302
3,658

101,068
92,354
8,714

96,657
88,310
8,347

250,184
193,492
56,692

71.197
71.197

6

Delaware.........................
Insured b an k s.............
Noninsured b a n k s... .

173,625
173,303
322

845
523
322

3.235
3.235

9.031
9.031

10.379
10.379

14.694
14.694

9.876
9.876

51.619
51.619

73.865
73.865

District of C o lu m b ia.
Insured ban k s.............
Noninsured b a n k s.. . .

323.682
323.682

770
770

3.108
3.108

13.921
13.921

53.760
53.760

157.143
157.143

94.980
94.980




81
81

CORPORATION

A rizona............................
Insured b an k s.............
Noninsured b a n k s... .

INSURANCE

55,558
37,457
18,101

DEPOSIT

53,984,886
52,326,754
1,658,132

FEDERAL

(In thousands of dollars)
United States and posses­
sions— to ta l..........................
Insured banks............................
Noninsured banks1...................

393,291
391,101
2,190

446
350
96

4.712
4.712

11.787
11.787

30,145
29,606
539

46,114
44,559
1,555

42.837
42.837

46.269
46.269

159.355
159.355

51.626
51.626

G eorgia..................................
Insured b an k s...................

453,539
447,964
5,575

3,780
2,255
1,525

16,445
13,751
2,694

22.412
22.412

29,308
27,952
1,356

36.031
36.031

47.133
47.133

22.980
22.980

69.434
69.434

206,016
206,016

Id a h o.......................................
Insured ban ks...................

91,722
88,474
3,248

133
133

1.765
1.765

3.823
3.823

8.384
7.385
999

7.908
7.908

15,072
12,823
2,249

5.363
5.363

49.274
49.274

Illinois....................................
Insured ban ks...................
Noninsured banks............

4,440,838
4,423,653
17,185

1,379
1,021
358

27,570
27,206
364

70,676
70,142
534

142,901
140,305
2,596

150,767
147,148
3,619

278,146
275,429
2,717

320,712
313,715
6,997

432.728
432.728

3.015.959
3.015.959

In d ian a..................................
Insured ban ks...................
Noninsured banks............

891,903
879,489
12,414

578
489
89

18,880
16,765
2,115

47,860
44,820
3,040

73,473
71,957
1,516

116,301
115,255
1,046

146,939
142,331
4,608

59.384
59.384

300.216
300.216

128.272
128.272

Io w a.........................................
Insured ban ks...................
Noninsured banks............

640,938
608,656
32,282

775
269
506

22,548
18,002
4,546

79,021
70,950
8,071

113,748
105,876
7,872

134,153
126,775
7,378

76,128
72,219
3,909

65.109
65.109

149.456
149.456

K ansas....................................
Insured ban ks...................
Noninsured banks............

400,081
351,669
48,412

7,461
2,210
5,251

42,136
27,417
14,719

53,472
41,598
11,874

63,237
52,350
10,887

67,126
61,445
5,681

61.421
61.421

30.038
30.038

75.190
75.190

K en tu ck y..............................
Insured ban ks...................
Noninsured banks............

463,265
454,636
8,629

2,015
1,196
819

18,731
16,795
1,936

35,249
34,379
870

61,471
57,590
3,881

72,565
71,442
1,123

53.748
53.748

41.500
41.500

118.349
118.349

59.637
59.637

L ouisian a..............................
Insured ban ks...................
Noninsured banks............

504,653
504,305
348

373
373

3,470
3,470

8,798
8,4.50
348

31.168
31.168

37.186
37.186

36.029
36.029

27.726
27.726

123.768
123.768

236.135
236.135

BANKING

M a in e .....................................
Insured ban ks...................
Noninsured banks............

205,269
189,169
16,100

191
191

1,845
1,077
768

9,949
8,681
1,268

27,509
25,841
1,668

59,632
55,011
4,621

80,203
72,619
7,584

25.940
25.940

M ary lan d..............................
Insured b an k s...................
Noninsured banks............

669,618
603,132
66,486

84
84

3,963
3,963

16,783
16,783

28.645
28.645

51.671
51.671

58.691
58.691

56.393
56.393

269,761
203,275
66,486

183.627
183.627

OFFICES

M assachusetts....................
Insured ban ks...................
Noninsured banks............

1,980,989
1,922,808
58,181

67
67

319
319

5,290
4,808
482

24,793
23,929
864

60,279
58,481
1,798

186,703
182,789
3,914

201.423
201.423

371,769
320,646
51,123

1.130.346
1.130.346

M ich ig a n ...............................
Insured ban ks....................
Noninsured banks............

1,494,957
1,473,517
21,440

250
28
222

11,526
10,077
1,449

51,012
47,423
3,589

75,446
73,876
1,570

87,674
85,149
2,525

137.172
137.172

135.226
135.226

229,916
217,831
12,085

766.735
766.735

M in n eso ta............................
Insured b an k s...................
Noninsured banks............

903,484
893,348
10,136

2,385
1,401
984

32,789
31,366
1,423

78,191
76,926
1,265

108,118
107,569
549

85,504
81,796
3,708

68,626
66,419
2,207

44.528
44.528

88,018
88,018

395.325
395.325

M ississippi............................
Insured ban k s....................
Noninsured banks............

191,788
187,216
4,572

1,135
984
151

6,552
6,187
365

19,728
18,625
1,103

34,375
31,422
2,953

40.450
40.450

39.999
39.999

38.091
38.091

11.458
11.458

O
F

.119




DEPOSITS

Florida....................................
Insured b an k s...................

T a b le 114.

D e p o s it s OF O p e r a t i n g C o m m e r c ia l B a n k s , J u n e 30, 1939 — Continued
K)
O

BANKS GROUPED ACCORDING TO AMOUNT OF DEPOSITS AND BY INSURANCE STATUS IN EACH STATE AND IN THE POSSESSIONS
Banks with deposits o f All
banks

$ 100,000
or
less

$100,000
to
$250,000

$250,000
to
$500,000

$500,000
to
$1,000,000

$1,000,000
to
$2 ,000,000

$5,000,000
to
$10,000,000

$10,000,000
to
$50,000,000

More than
$50,000,000

874.633
874.633

32,697
29,957
2,740

46,954
46,055
899

(In thousands of dollars)
115.487
67,171
72.667
66,566
115.487
72.667
605

117.334
117.334

168.728
168.728

135.577
135.577

109
109

5,045
5,045

11.241
11.241

18.263
18.263

12.567
12.567

37.244
37.244

25.795
25.795

25.313
25.313

Nebraska...................
Insured banks
Noninsured banks.

311,547
303,076
8,471

4,900
2,635
2,265

27,385
24,132
3,253

36,986
36,100
886

33,662
32,865
797

25,617
24,347
1,270

25.087
25.087

7.733
7.733

150.177
150.177

Nevada.......................
Insured banks
Noninsured banks.

36.696
36.696

1.535
1.535

2,262
2,262

2.405
2.405

2.215
2.215

New Hampshire. . .
Insured banks
Noninsured banks.

88,452
81,792
6,660

84

1,209
912
297

4,361
3,959
402

14,102
11,585
2,517

17.176
17.176

26,769
23,409
3,360

24.751
24.751

New Jersey...............
Insured banks
Noninsured banks.

1,703,753
1,701,452
2,301

64

639
424
215

7,652
7,336
316

52,861
51,155
1,706

166.879
166.879

292.133
292.133

220.940
220.940

695.441
695.441

New M exico.............
Insured banks
Noninsured banks.

59,321
58,862
459

531
531

4,387
3,928
459

5.925
5.925

14.566
14.566

7.094
7.094

16.362
16.362

10.456
10.456

New Y o rk .................
Insured ban ks. . . .
Noninsured banks.

16,654,490
15,839,717
814,773

167

5,643
5,043
600

38,086
37,820
266

128,612
128,090
522

237,849
236,525
1,324

480,070
460,229
19,841

421.874
421.874

167

796,022
782,381
13,641

14,546,167
13,767,755
778,412

North C a rolin a.. ..
Insured ban k s. . . .
Noninsured banks.

431,245
423,648
7,597

1,072
839
233

8,177
7,856
321

19.174
19.174

29,507
28,891
616

54.495
54.495

58.466
58.466

32,045
25,618
6,427

75.579
75.579

152.730
152.730

North D ak o ta.........
Insured b an k s. . . .
Noninsured banks.

88,723
67,674
21,049

2,449
2,059
390

11,403
11,043
360

13,127
12,541
586

7.067
7.067

11.428
11.428

17.015
17.015

6.521
6.521

19,713

O h io............................
Insured b an ks. . . .
Noninsured banks.

2,337,220
2,332,688
4,532

325
153
172

13,896
12,544
1,352

60,443
57,994
2,449

127,724
127,165
559

192.035
192.035

260.137
260.137

198.170
198.170

351.440
351.440

1.133.050
1.133.050

O k la h om a................
Insured b an k s. . . .

458,920
456,803
2,117

2,116
2,025
91

20,514
18,847
1,667

42,279
41,920
359

38.874
38.874

46.785
46.785

59.835
59.835

37.605
37.605

37.442
37.442

173.470
173.470

1,501,476
1,496,090
5,386

M on ta n a ...................
Insured ban k s........
Noninsured banks.

64

28.279
28.279

267.144
267.144

CORPORATION

19,713'

INSURANCE

Noninsured banks.



84

DEPOSIT

5,805”
4,663 4
1
1,142

M issou ri.....................
Insured b an k s........
Noninsured banks.

FEDERAL

$2 ,000,000
to
$5,000,000

74

Oregon.......................
Insured banks. . . .
Noninsured banks.

298,106
293,895
4,211

Pennsylvania..........
Insured ban k s. . . .
Noninsured banks.

4,753,430
4,697,220
56,210

180
83
97

Rhode Islan d ..........
Insured ban ks. . . .
Noninsured banks.

301,880
238,329
63,551

49
49

South C a rolin a... .
Insured ban ks. . . .
Noninsured banks.

ia2,404

140,049

1,955
1,067

5,971
4,546
1,425

South D ak o ta........
Insured ban k s. . . .
Noninsured banks.

89,201
88,688
513

1.665
1.665

Tennessee.................
Insured ban k s. . . .
Noninsured banks.

520,309
517,647
2,662

T exas..........................
Insured ban k s. . . .
Noninsured banks.

1,475,143
1,452,399
22,744

U ta h ...........................
Insured ban k s. . . .
Noninsured banks.

9.647
9.647

15.422
15.422

14,261
10,124
4,137

7.851
7.851

10,608
10,608

230.437
230.437

10,700
10,087
613

55,185
54,617
568

197,456
192,518
4,938

373,140
368,604
4,536

727.366
727.366

447,547
438,039
9,508

689,607
653,657
35,950

2.252.249
2.252.249

2.151
2.151

8,703
1,882
6,821

18,719
13,856
4,863

19.603
19.603

88,645
36,778
51,867

164.010
164.010

9,077
8,613
464

15,158
12,437
2,721

15.813
15.813

25,799
23,652
2,147

12.871
12.871

53.405
53.405

12.753
12.753

14.544
14.544

8,578
8,065
513

10,810
10,810

15.442
15.442

15.325
15.325

10.084
10.084

2,114
2,016
98

16,082
15,521
561

24.431
24.431

37,452
36,676
776

39,815
38,588
1,227

33.607
33.607

24.485
24.485

214.207
214.207

128,116
128,116

5,512
4,069
1,443

35,354
31,693
3,661

76,928
71,451
5,477

113,172
110,040
3,132

116,355
115,105
1,250

150,332
148,225
2,107

141,594
135,920
5,674

578.370
578.370

257.526
257.526

149.133
149.133

1.223
1.223

5.911
5.911

12.840
12.840

11.852
11.852

5.874
5.874

6.689
6.689

104.744
104.744

V erm on t...................
Insured ban ks. . . .
Noninsured banks.

108.375
108.375

504
504

6.013
6.013

13.535
13.535

26.932
26.932

48.364
48.364

13.027
13.027

Virginia.....................
Insured ban k s. . . .
Noninsured banks.

595,272
595,124
148

280
280

7,791
7,643
148

25.424
25.424

62.136
62.136

84.757
84.757

94.309
94.309

71.349
71.349

122.453
122.453

126.773
126.773

W ashington.............
Insured ban k s. . . .
Noninsured banks.

472,920
462,637
10,283

427
364
63

5,054
4,806
248

15.100
15.100

19.176
19.176

17.643
17.643

21,138
19,070
2,068

59,201
51,297
7,904

95.954
95.954

239.227
239.227

W est V irgin ia.........
Insured ban ks. . . .
Noninsured banks.

289,009
285,011
3,998

278
25
253

3,569
3,406
163

15,553
14,604
949

38.314
38.314

46.469
46.469

73,580
70,947
2,633

29.761
29.761

81.485
81.485

W isconsin.................
Insured ban ks. . . .
Noninsured banks.

909,072
904,778
4,294

811
756
55

20,305
20,072
233

52,594
50,998
1,596

105,900
103,490
2,410

128.109
128.109

147.268
147.268

85.543
85.543

146.043
146.043

W y o m in g ..................
Insured ban k s. . . .
Noninsured banks.

63.866
63.866

251
251

831
831

6.043
6.043

11.614
11.614

13.009
13.009

12.748
12.748

19.370
19.370

7,645




1938, p. 154; 1937, p. 100; 1936, p. 128; 1935, p. 156.

222.499
222.499

OFFICES

For the number of banks on which these deposit figures are based, see Table 108.

Back figures— See the following Annual Reports:

BANKING

1 Excludes figures for 39 noninsured commercial banks for which data are not available.
NOTE:

O
F

6.197
6.197

DEPOSITS

3.609
3.609

' ' 74'

T able 115.

DEPOSITS OF OPERATING M U T U A L SAVINGS B A N K S , JU NE 30, 1939

BANKS GROUPED ACCORDING TO AMOUNT OF DEPOSITS AND BY INSURANCE STATUS IN EACH STATE
Banks with deposits o f $100,000
or
less

$250,000
to
$500,000

554
117
437

2,059
777
1,282

$500,000
$1,000,000 $2 ,000,000 $5,000,000
to
to
to
to
$1,000,000 $2 ,000,000 $5,000,000 $10,000,000

$10,000,000 More than
to
$50,000,000
$50,000,000

(In thousands of dollars)
10,430,424
1,246,009
9,184,415
State
Connecticut

18,980
4,237
14,743

78,301
9,479
68,822

473,553
40,669
432,884

3,689,820
184,996
3,504,824

5,342,749
943,893
4,398.856

726,056

1,868

12,015

77,230

124,756

435,647

74,540

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

726,056

1,868

12,015

77,230

124,756

435,647

74,540

9,022

30,007

9,022

30,007

39,029

Delaware
Noninsured banks

39,029

Indiana
Insured banks
Noninsured banks

19,594
13,225
6,369

Maryland
...................................................
Insured banks
Noninsured banks
....................................

257

127,984
14,722
113,262
224,532
1,525
223,007

257
301

4,601
2,712
1,889

3.096
3.096

14,540
8,171
6,369

13,517

39,043
5,113
33,930

29,556
6,897
22,659

41,010

13,517

41,010

4,718

9,297

63,572

145,119

4,718

1.525
1.525

301

9,297

63,572

145,119

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

2,150,725

284

5,326

19,914

180,597

351,938

1,096,880

495,786

....

2,150,725

284

5,326

19,914

180,597

351,938

1,096,880

495,786

Noninsured banks
Minnesota
Insured banks
New Hampshire

Noninsured banks...................................................




66.109
66.109

66.109
66.109
193,312

5,660

14,358

61,354

23,923

88,017

193,312

5,660

14,358

61,354

23,923

88,01.7

CORPORATION

Maine
........................................................
Insured banks
Noninsured banks
.............................................

1.958
1.958

INSURANCE

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

Noninsured banks

M assachusetts

824,408
61,841
762,567

DEPOSIT

$100,000
to
$250,000

FEDERAL

All
banks

7,500
7,500

O h io............................
Insured ban k s. . . .
Noninsured banks.

121.748
121.748

1.454
1.454

Oregon.......................
Insured ban k s. . . .
Noninsured banks.

2,286
2,286

2,286
2,286

Pennsylvania..........
Insured ban ks. . . .
Noninsured banks.

593,905
6,868
587,037

6,868

Rhode Island..........
Insured ban ks. . . .
Noninsured banks.

178,173

153

455

178,173

153

455

V e rm on t...................
Insured ban ks. . . .
Noninsured banks.

57.483
57.483

W ash in gton .............
Insured b an k s. . . .
Noninsured banks.

67.659
67.659

W isconsin.................
Insured ban ks. . . .
Noninsured banks.

4,475
4,206
269

N OTE:

For the number of banks on which these deposit figures are

Back figures— See the following Annual Reports:




8,826
5,087
3,739

55,387
30,147
25,240

177,844
105,826
72,018

71,316

184,061

' 71,31.6

‘ 184,0 6 i '

1,532,324
43,733
1,488,591

7.740
7.740

97,334
“ ‘ 97,334 ’
3,719,654
703,795
3,015,859
112.554
112.554

84,389

502,648

84,389

502,648

5,302

104,693

67,570

’ 5,302'

104,693

67,570’

8,886

35.437
35.437

6,868

278
278

3.252
3.252

9.630
9.630
6.224
6.224

117
117

269

, see Table 109.
1938, p. 158; 1937, p 104; 1936, p. 132; 1935, p. 164.

1.724
1.724

2.365
2.365

8,886

61.435
61.435

OFFICES

5,514,855
747,528
4,767,327

2,609
1,091
1,518

BANKING

New Y o rk .................
Insured ban ks. . . .
Noninsured banks.

499
499

O
F

342,499
142,650
199,849

DEPOSITS

New Jersey...............
Insured ban k s. . . .
Noninsured banks.

K>
CO

ASSETS AND LIABILITIES OF OPERATING BANKS
Table 116.

SUM M ARY OF A SSETS AND LIABILITIE S OF OPERATING B A N K S IN THE U N IT E D STATES AND POSSESSIONS,

1935-1939

j-l

BANKS GROUPED BY INSURANCE STATUS AND TYPE OF BANK
(Amounts in millions of dollars)
1936

1935
June 30

Dec. 31

June 30

1939

1938
D ec. 31

June 30

Dec. 31

June 30

Dec. 30

ALL C O M M E R C IA L A N D M U T U A L S A V IN G S B A N K S
ASSETS
15,520
16,933
10,260
22,461
3,214
68.388

15,902
16,683
9,739
22,119
3,093
67.536

17,392
16,787
9,496
21,053
2,990
67.718

18,262
18,006
9,609
21,315
3,144
70.336

20,544
18,800
9,522
21,309
3,005
73.180

23,324
19,462
9,283
22,130
2,923
77.122

T otal capital a ccou n ts...................................................................................
T o t a l lia b ilitie s a n d ca p ita l a c c o u n t s .......................................

55,512
657
7,775
63.944

58,159
728
7,897
66.784

60,926
689
7,954
69.569

59,586
775
8,027
68.388

58,829
671
8,036
67.536

59,120
594
8,004
67.718

61,638
668
8,030
70.336

64,416
651
8,113
73.180

68,413
609
8,100
77.122

Number of banks inclu d ed .......................................................................
Number of banks not included...............................................................
Total operating ban ks......................................................................

15,878
62
15,940

15,776
62
15,838

15,655
59
15,714

15,525
59
15,584

15,398
46
15,444

15,293
50
15,343

15,203
54
15,257

15,096
41
15,137

15,040
45
15,085

13,919
13,454
7,125
15,208
2,329
52.035

14,109
14,982
7,683
15,607
2,333
54.714

15,800
14,987
7,820
16,434
2,302
57.343

14,609
14,217
7,461
17,514
2,243
56.044

15,003
13,919
7,053
17,222
2,156
55.353

16,458
13,779
6,983
16,192
2,094
55.506

17,247
14,787
7,176
16,485
2,242
57.937

19,449
15,415
7,199
16,617
2,139
60.819

22,009
15,989
7,163
17,471
2,081
64.713

45,125
573
6,337
52.035

47,637
648
6,429
54.714

50,281
602
6,460
57.343

48,832
683
6,529
56.044

48,228
587
6,538
55.353

48,469
520
6,517
55.506

50,791
589
6,557
57.937

53,573
587
6,659
60.819

57,485
550
6,678
64.713

14,179
1
2
14,182

14,115
2
4
14,121

14,026
2
1
14,029

13,941
2

13,851
2

13,707
2

13,618
2

13,586
3

13,943

13,853

13,779
3
1
13,783

13,709

13,620

13,589

LIA BILITIE S AND CAPITAL
T otal deposits..................................................................................................

AL L IN SU R ED B A N K S
ASSETS
Cash and amounts due from other banks................................................
United States Government obligations, direct and fully guaranteed..
Other securities................................................................................................
Loans, discounts, and overdrafts................................................................
Miscellaneous assets.......................................................................................
LIA BILITIE S AND CAPITAL
Total deposits..................................................................................................
Miscellaneous liabilities.................................................................................
Total capital accounts...................................................................................
T o ta l lia b ilitie s a n d c a p ita l a c c o u n t s .......................................
N um ber of banks includ ed ........................................................................
Trust companies not engaged in deposit banking.............................
S
tcttG T T of aSS6tS £lT licifoilltiGS not S E lfo
T lG ltS
ld
lV lilE lG
Total
FRASER operating b an ks......................................................................

Digitized for


CORPORATION

16,819
17,479
10,618
21,388
3,265
69.569

INSURANCE

15,060
17,330
10,509
20,601
3,284
66.784

DEPOSIT

14,872
15,510
10,035
20,291
3,236
63.944

United States Governm ent obligations, direct and fully guaranteed ..
Other securities................................................................................................
Loans, discounts, and overdrafts................................................................
Miscellaneous assets.......................................................................................
T o t a l a s s e t s ............................................................................................

FEDERAL

D ec. 31

1937

ALL NONINSURED BANKS
ASSETS
953
2,056
2,910
5,083
907
11,909

951
2,348
2,826
4,994
951
12,070

1,019
2,492
2,798
4,954
963
12,226

911
2,716
2,799
4,947
971
12,344

899
2,764
2,686
4,897
937
12,183

934
3,008
2,513
4,861
896
12,212

1,015
3,219
2,433
4,830
902
12,399

1,095
3,385
2,323
4,692
866
12,361

1,315
3,473
2,120
4,659
842
12,409

10,387
84
1,438
11,909

10,522
80
1,468
12,070

10,645
87
1,494
12,226

10,754
92
1,498
12,344

10,601
84
1,498
12,183

10,651
74
1,487
12,212

10,847
79
1,473
12,399

10,843
64
1,454
12,361

10,928
59
1,422
12,409

1,699
59
1,758

1,661
56
1,717

1,629
56
1,685

1,584
57
1,641

1,547
44
1,591

1,514
46
1,560

1,496
52
1,548

1,478
39
1,517

1,454
42
1,496

14,320
13,826
7,115
15,164
2,361
52,786

14,516
15,346
7,714
15,571
2,347
55,494

16,254
15,291
7,888
16,415
2,323
58,171

14,991
14,591
7,514
17,489
2,276
56,861

15,355
14,219
7 062
17*190
2,171
55,997

16,815
14,097
7,005
16,149
2,090
56,156

17,676
15,117
7,229
16,440
2,260
58,722

19,842
15,742
7,245
16,442
2,140
61,411

22,509
16,343
7,103
17,263
2,058
65,276

LIABILITIES AND CAPITAL
Total deposits..................................................................................................
45,632
Miscellaneous liabilities................................................................................
636
Total capital accounts ............................................................................................................................
6,518
T otal liabilities and capital accounts.......................................
52,786

48,184
705
6,605
55,494

50,865
670
6,636
58,171

49,423
751
6,687
56,861

48,656
649
6,692
55,997

48,908
572
6,676
58,722
56,156

51,355
648
6,719

53,985
628
6,798
61,411

57,887
588
6,801
65,276

15,211
62
15,273

15,092
59
15,151

14,963
59
15,022

14,836
46
14,882

14,731
50
14,781

14,649
54
14,703

14,544
41
14,585

14,489
45
14,534

544
1,984

565
2,188

United States Governm ent obligations, direct and fully guaranteed..

LIABILITIES AND CAPITAL

United States Governm ent obligations, direct and fully guaranteed..
Miscellaneous assets.......................................................................................
T otal a sse ts...........................................................................................

OPERATING

15,312
62
15,374

O
F

Number of banks included......................................................................
Number of banks not included...............................................................
Total operating ban k s......................................................................

LIABILITIES

ASSETS

AD
N

ALL CO M M ER CIAL BAN KS

ASSETS

Total operating ban k s......................................................................

ALL M UTU AL SAVINGS BANKS

LIABILITIES AND CAPITAL
Total deposits..............................................................................................
Miscellaneous liabilities............... •...............................................................
T otal capital a ccou n ts...................................................................................
T otal liabilities and capital accounts.......................................

9,880
21
1,257
11,158

N um ber of ban ks...............................................................................

566




5 030
’937
11 290

4 973
942
11 398

702
815
577
586
547
529
3,119
3,058
2,889
2,464
2,690
2,342
2,277
2,180
2,380
2,677
2,491
2,746
4,867
4,867
4,904
4,875
4,929
4,972
Miscellaneous922
assets.......................................................................................
865
865
884
900
938
11,769
11,846
11,614
11,562
11,539
11,527

9,975
23

10,061
19
1 318
11 398

10,163
24
1,340
11,527

10,173
22
1,344
11,539

10,212
22
1,328
11,562

10,283
20
1,311
11,614

10,431
23
1,315
11,769

10,526
21
1,299
11,846

563

562

562

562

554

552

551

9 7Q£
ij O

1 9Q9
11 7 tU
XI,x Oil

565

IO
U

125

Total assets...........................................................................................

552
1,684
2,920
5,127
875
11,158

BANKS

ASSETS
Cash and amounts due from other b a n k s ...............................................
United States Government obligations, direct and fully guaranteed..
Other securities................................................................................................
Loans, discounts, and overdrafts...............................................................

Table 116.

SUMMARY OF ASSETS AND LIABILITIES OF OPERATING BANKS IN THE UNITED STATES AND POSSESSIONS, 1935-1939— C on tin u ed
BANKS GROUPED BY INSURANCE STATUS AND TYPE OF BANK
(Amounts in millions of dollars)
1936

1935
Dec. 31

June 30

K

1937
D ec. 31

June 30

1938
D ec. 31

June 30

1939

D ec. 31

June 30

D ec. 30

ASSETS
15,730
14,750
7,558
15,965
2,208 ,
56,211

14,540
13,965
7,214
17,044
2,142
54,905

14,931
13,669
6,807
16,750
2,055
54,212

16,371
13,525
6,753
15,726
1,994
54,369

17,176
14,507
6,944
16,024
2,149
56,800

19,354
15,038
6,955
16,041
2,038
59,426

21,876
15,568
6,860
16,866
1,977
63,147

LIABILITIE S AND CAPITAL
T otal deposits..................................................................................................
Miscellaneous liabilities.................................................................................
T otal capital accou nts...................................................................................
T o t a l lia b ilitie s a n d ca p ita l a c c o u n t s ........................................

44,147
569
6,211
50,927

46,649
644
6,299
53,592

49,283
599
6,329
56,211

47,830
679
6,396
54,905

47,224
584
6,404
54,212

47,461
516
6,392
54,369

49,779
586
6,435
56,800

52,327
584
6,515
59,426

56,076
546
6,525
63,147

Num ber of banks in clu d ed ......................................................................
'"rust companies not engaged in deposit banking.............................
^ements of assets and liabilities not available
Total operating ban k s......................................................................

14,123
1
2
14,126

14,059
2
4
14,065

13,970
2
1
13,973

13,885
2

13,795
2

13,659
2

13,569
2

13,535
3

13,887

13,797

13,723
3
1
13,727

13,661

13,571

13,538

ASSETS
Cash and amounts due from other b a n k s ...............................................
United States Government obligations, direct and fully guaranteed..
Other securities................................................................................................
Loans, discounts, and overdrafts................................................................
Miscellaneous assets.......................................................................................
T o ta l a s s e t s ............................................................................................

469
551
274
445
120
1,859

477
574
302
440
109
1,902

524
541
330
450
115
1,960

451
626
300
445
134
1,956

424
550
255
440
116
1,785

444
572
252
423
96
1,787

500
610
285
416
111
1,922

488
704
290
401
102
1,985

633
775
243
397
81
2,129

LIABILITIES AND CAPITAL
Total deposits..................................................................................................
Miscellaneous liabilities.................................................................................
Total capital accounts...................................................................................
T o t a l lia b ilitie s a n d c a p ita l a c c o u n t s ........................................

1,485
67
307
1,859

1,535
61
306
1,902

1,582
71
307
1,960

1,593
72
291
1,956

1,432
65
288
1,785

1,447
56
284
1,787

1,576
62
284
1,922

1,658
44
283
1,985

1,811
42
276
2,129

1,189
59
1,248

1,152
56
1,208

1,122
56
1,178

1,078
57
1,135

1,041
44
1,085

1,008
46
1,054

990
52
1,042

975
39
1,014

954
42
996

iyiNINSURED C O M M E R C IA L B A N K S

Number of banks included.......................................................................
Statements of assets and liabilities not available..............................

 operating b an k s......................................................................
T otal


CORPORATION

14,039
14,772
7,412
15,131
2,238
53,592

INSURANCE

13,851
13,275
6,841
14,719
2,241
50,927

DEPOSIT

United States Government obligations, direct and fully guaranteed..
Other securities................................................................................................
Loans, discounts, and overdrafts................................................................
Miscellaneous assets.......................................................................................
T o t a l a s s e t s ............................................................................................

FEDERAL

IN SU R E D C O M M E R C IA L B A N K S

INSURED M UTUAL SAVINGS BANKS

72
250
246
472
101
1,141

87
254
230
466
100
1,137

71
280
232
461
93
1,137

95
377
244
576
101
1,393

133
421
303
605
104
1,566

LIABILITIES AND CAPITAL
Total deposits.................................................................................................
Miscellaneous liabilities................................................................................
T otal capital a ccou nts..................................................................................
T otal liabilities and capital accounts.......................................

978
4
126
1,108

988
4
130
1,122

998
3
131
1,132

1,002
4
133
1,139

1,004
3
134
1,141

1,008
4
125
1,137

1,012
3
122
1,137

1,246
3
144
1,393

1,409
4
153
1,566

56

56

56

56

56

56

48

49

51

ASSETS
Cash and amounts due from other banks...............................................
United States Government obligations, direct and fully guaranteed. .
Other securities...............................................................................................
Loans, discounts, and overdrafts...............................................................
Miscellaneous assets......................................................................................
T otal assets...........................................................................................

484
1,505
2,636
4,638
787
10,050

474
1,774
2,524
4,554
842
10,168

495
1,951
2,468
4,504
848
10,266

460
2,090
2,499
4,502
837
10,388

475
2,214
2,431
4,457
821
10,398

490
2,436
2,261
4,438
800
10,425

515
2,609
2,148
4,414
791
10,477

607
2,681
2,033
4,291
764
10,376

682
2,698
1,877
4,262
761
10,280

LIABILITIES AND CAPITAL
Total d eposits.................................................................................................
Miscellaneous liabilities................................................................................
Total capital accounts..................................................................................
Total liabilities and capital accounts.......................................

8,902
17
1,131
10,050

8,987
19
1,162
10,168

9,063
16
1,187
10,266

9,161
20
1,207
10,388

9,169
19
1,210
10,398

9,204
18
1,203
10,425

9,271
17
1,189
10,477

9,185
20
1,171
10,376

9,117
17
1,146
10,280

510

509

507

506

506

506

506

503

500

N umber of banks
NONINSURED M UTUAL SAVINGS BANKS

N um ber of banks

BANKS




OPERATING

69
252
247
470
101
1,139

O
P

70
237
262
469
94
1,132

LIABILITIES

70
210
271
476
95
1,122

AD
N

68
179
284
489
88
1,108

ASSETS

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 a ssets...........................................................................................

Table 117.

A

ssets

AND LIABILITIES OF OPERATING INSURED COMMERCIAL BANKS, CALL DATES 1935-1939
(Amounts in thousands of dollars)

June 29

1937

1936

1935
Dec. 31

June 30

Dec. 31

June 30

1
Dec. 31

1939

1938
June 30

14,059

13,970

13,885

13,795

Dec. 31

13,723

950,394
917,759
8,694,388 10,010,744

1,067,155
11,603,504

ASSETS
Cash, balances with other banks, and cash
item s in process of collection:
Currency and c o in ......................................................
Reserve with Federal Reserve banks.....................
Demand balances with banks in the United
States (except private banks and American
branches of foreign banks):
In New York C it y ..................................................

705,488
4,933,277

869,626
5,573,212

915,988
5,607,119

917,310
6,571,694

844,197
6,896,663

789,519
7,005,209

909,727
8,004,090

1,612,871
2,759,445
150,266
76,225
1,219,335

1,817,424
3,033,305
198,653
54,889
2,304,017

1,869,377
3,201,486
195,625
55,409
2,194,114

1,898,633
3,493,012
197,453
57,603
2,594,855

1,456,015
2,884,490
155,296
54,754
2,248,736

1,576,381
3,026,627
141,777
72,250
2,319,081

1,971,524
3,266,066 | 5,480,000
154,856
183,962
118,931
53,638
1,945,536
1,813,703

1,104,669
4,476,099
4,889,004

10,469,772 11,168,436

1,270,127
5,428,167
5,816,750

1,055,211
4,755,941
6,724,308

826,756
4,637,033
6,386,378

668,723
4,567,777
6,336,291

17,176,085 19,354,284

21,875,590

446,009
2,925,415
8,576,596

570,783
2,388,084
9,194,340

11,938,870 11,948,020

12,153,207

318,767
3,925,676
6,915,305

12,515,044 12,535,460 11,850,167 11,572,791 11,159,748

289,876
3,648,098
8,000,896

246,715
21,198,549
447,451

243,393
1,300,419
563,041

238,076
1,444,000
575,357

212,709
1,433,126
568,258

221,111
1,409,116
484,318

257,687
1,344,284
494,590

262,725
1,440,444
493,955
168,322

435,667
1,459,653
502,886
169,731

658,870
1,616,440
550,646
264,239

863,705
1,655,205
500,651
394,712

1,892,715

2,106,853

2,257,433

2,214,093

2,114,545

2,096,561

2,365,446

2,567,937

3,090,195

3,414,273

224.116
98,702

258,191
139,687

229.903
114,260

199.937
131^772

117,293
142,030
154,146

113,964
156,702
137,062

2,758,456

2,734,041

2,662,173

158,164
162,856
(3
)
2,660,288

131,147
128,862
107,449

2,633,631

182,987
134,943
(3)
2,567,801

| 3,011,333

3,141,394

3,285,180

24,326

19,521

22,089

22,057

19,119

19,408

1,017,472
1,090,295

1,173,943
1,176,996

1,232,832
1,287,352

1,203,111
1,137,234

1,121,469
1,035,529

1,056,801
982,014

993,349
973,955
707,047
141,499

942,958
886,300
696,824
134,666

910,914
760,282
644,330
126,276

212,368
2,144

216,903
2,599

216,453
2,168

Other securities:
Obligations of Government corporations and
agencies, not guaranteed by U. S. G ov t:
205.925
Federal Land banks...............................................
134^422
Federal Intermediate Credit ban ks...................
Other Government corporations and agencies
2,558,536
Obligations of States and political subdivisions . .
Obligations of territorial and insular possessions
21,507
of the United States...........................................
Obligations of other domestic corporations:
1,025,574
R ailroads...................................................................
975,497
Public u t ilit ie s ........................................................
Industrials................................................................
808,747
All other4................................................................... j
Foreign bonds, notes, and debentures— public
FRASER private...........................................................
and
295,610
Stocks of foreign corporations................................. }

Digitized for


1,195,007
5,603,462
4,369,967

14,039,118 15,730,560 14,540,151 14,930,844 16,370,730

842,710

945,644

1,022,204

959,041

911,341

/
887,791 \

293,465

297,859

278,638

273,068

217,852

/
207,938 \

CORPORATION

Obligations guaranteed by the U. S. G ovt:
Reconstruction Finance C orporation.....................
H ome Owners’ Loan C orporation..........................
Federal Farm Mortgage C orporation....................
Other Government corporations and agencies
T otal obligations guaranteed by the
United States G overnm en t....................

11,456,907 13,851,126

7,138,913
180,150
24,810
1,861,058

INSURANCE

Direct obligations of the U. S. Governm ent:
Treasury bills...............................................................
Treasury n otes.............................................................
.............................................
B on d s.....................
Total direct obligations of the United
States Governm ent....................................

5,964,135
178,301
44,344
2,239,001

DEPOSIT

14,175

FEDERAL

13,535

Number of banks1...............................................

T otal cash, balances with other banks,
and cash item s in process of collection

Dec. 30

13,569

13,659

14,123

Other balances with banks in the United States.

June 30

Corporate stocks of:
Federal Reserve banks......................................
Affiliates of reporting banks............................
Other domestic banks.................... ...............
Other domestic corporations...........................
T o t a l o t h e r s e c u ritie s 5..................................
T o t a l s e cu ritie s 5..........................................

146,382

130,317

130,810

130,744

132,238

132,637

133,510

501,800

486,065

510,502

505,643

493,220

483,742

484,601

6,674,000

6,841,099

7,411,609

7,557,706

7,213,851

6,807,420

6,753,371

19,036,487 20,116,388

318,879

378.018

440,745

419,652

340,085

283,494

283,630

330,571

17,979
144,298
118,780

18,703
161.019
133,090

15.533
131^645
115,626

22,938
127,946
131,435

13,640
75,673
113,460

10,167
89,342
95,888

8,605
66,911
101,511

9,248
63,467
93,397

1,097,524
273,513

1,172,495
274,269

1,300,825
265,611

752,540
218,728

540,968
184,586 } 1,001,845

755,382

817,026

512,872
519,365
/ 2,416,719
3,208,792 \
923,025
124,084
128,003
925,708
61,064,933
[ 65,154,422

530,740
2,468,203
991,408
60,216
1,193,478
5,227,799

534,273
2,596,999
1,006,178
57,307
1,094,399
5,834,709

10,011
8,977
7,393
8,676
9,996
15,130,735 15,964,864 17,043,917 16,749,740 15,725,580

6850,600
828,220
( 63,476,538 3,509,824
9,977
14,446
16,024,318 16,040,373

793,616
3,622,365
12,466
16,866,021

37,314,821 38,272,123 38,222,480 37,226,512 36,004,145

37,474,986 38,033,282

39,293,860

489,244

487,604

504,217

501,543

2,876,819
86,865
661,606

2,959,251
90,269
637,369

3,080,036
118,973
726,400

3,139,457
73,497
788,355

7
9,037,835

7 ,642,766 7
9
10,334,310 7
10,564,672

7 ,677,036
9

i

1,196,266

507,573

550,723

(5
)

(5
)

1,194,621
74,186

1,177,752
70,925

1,172,617
63,052

1,160,501
56,311

1,153,259
53,096

499,838

489,543

474,378

463,261

456,164

(5
)

(5
)

(5
)

(5
)

(5
)

1,746,989

1,768,645

1,738,220

1,710,047

1,680,073

1,662,519

158,934
11,842

180,495

159,267

181,281

190,745

157,141

111,499

368,289

312,913

309,751

288,297

241,135

217,846

220,369

539,065

493,408

469,018

469,578

431,880

374,987

331,868

47,265,383 50,926,635

53,591,602 56,210,481 54,904,558 54,212,416 54,369,262

1,005,581
101,248
46,568
198,830
206,352

102,252

104,186

93,884

54,453

49,519

1,769,062

1,717,218

1,656,699

122,371

103,674

109,891

108,497
8,648
140,605
380,121

110,572
10,973
95,856
321,075

107,291
11,620
91,575
320,377

56,800,254 59,425,859

63,146,526

993,696
97,418
42,045
182,692
197,445

BANKS

1,717,511

1,017,963
105,400
49,143
223,388
217,025

53,891

1,209,938

OPERATING




22,427,839

O
F

T o t a l assets7..........................................................

21,450,668 21,992,909

LIABILITIES

M is ce lla n e o u s a ssets:
Customers’ liability to reporting banks on
acceptances outstanding...................................
Redemption fund and due from U. S. Treasurer..
Incom e accrued but not collected ..........................
Prepaid expenses.........................................................
Other assets7.................................................................
T o t a l m is c e lla n e o u s assets7............................

33,551,900 34,835,112

135,546
107,655
34,616
229,211
6,860,359

AD
N

T o t a l lo a n s a n d se cu ritie s 5 7....................
B a n k p rem ises, fu r n itu r e a n d fixtures, and
o t h e r rea l e s ta t e :
Bank premises.......................................................
Furniture and fixtures.........................................
Farm land (including im provem ents).............
Residential properties...........................................
Other real properties.............................................
Investments indirectly representing bank prem­
ises or other real estate....................................
Other assets indirectly representing bank prem­
ises or other real esta te....................................
T o t a l b a n k p re m ise s , fu r n itu r e an d
fixtu res, a n d o t h e r rea l e s ta t e ..............

134,942
112,046
36,633
235,960
6,954,694

ASSETS

L o a n s, d is c o u n t s , a n d o v e r d ra fts (in clu d in g
r e d is c o u n t s ):
Commercial paper bought in open m ark et.. . .
284,725
309,903
Notes, bills, acceptances, etc., payable in foreign
countries...............................................................
17,751
29,377
Acceptances of other Thanks, payable in the U. S ..
201,164
181,539
Reporting banks’ own acceptances........................
138,969
174,874
Loans to brokers and dealers in securities:
In New York C it y .................................................
993,856 1,064,772
Elsewhere..................................................................
197,497
203,078
Real estate loans:
On farm land...........................................................
497,475
487,505
On residential properties......................................
On other properties................................................ | 2,832,874 2,835,257
Loans to banks............................................................
127,807
105,322
Agricultural loans (excluding loans on farm land)
Commercial and industrial loans............................
Other loans for the purpose of purchasing or I7 9,216,329 7
9,317,418
carrying securities............................................
All other loans...........................................................
O verdrafts...................................................................
6,966
9,679
T o t a l lo a n s, d isc o u n ts, a n d o verd ra fts 51.
14,515,413 14,718,724

22,184,086 22,307,259 21,178,563 20,476,772 20,278,565

134,494
113,332
37,847
249,035
6,943,861

to

Table 117.

A

ssets

and

L ia b il it ie s

of

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 l l D
(Amounts in thousands of dollars)

June 29

Dec. 31

June 30

Dec. 31

June 30

Dec. 31

Dec. 31

June 30

June 30

Dec. 30

594,754
837,899
27,851,772 29,471,125

612,776
31,485,567

10,933,195 11,491,137 11,814,508 12,100,322 12,054,836
1,210,896
1,335,166 1,254,003 1,243,390 1,213,532
36,739
123,046
120,922
100,291
32,343
641,223
640,024
784,037
701,801
660,595
110,192
131,G02
125,915
135,840
139,737
346,429
550,004
588,044
428,928
347,084
13,654,015 13,966,105 14,440,888 14,705,775 14,688,998

12,195,956 12,355,298
1,158,737 1,167,503
129,517
27,799
645,897
630,048
79,527
86,098
535,311
574,578
14,673,216 14,913,053

12,622,325
1,129,346
31,684
687,701
69,240
527,373
15,067,669

7,333,723
608,853
7,942,576

8,760,606
762,507
9,523,113

49,778,676 52,326,754
34,949,194 37,242,573
14,829,482 15,084,181

56,076,349
40,839,329
15,237,020

5,201,586
279,638
5,481,224

5,941,190
452,978
6,394,168

40,320,347 44,147,311
27,198,282 80,779,759
13,122,065 13,367,552

Total deposits7..................................................

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

6,232,648
475,065
6,707,713

6,657,491
442,291
7,099,782

5,514,043
632,375
6,146,418

t , 662,112
466,036
6,128,148

6,318,202
332,429
6,650,631

46,649,299 49,283,126 47,829,955 47,223,688 47,460,741
32,825,743 35,14-7,022 33,21+0411 32,364469 32,613,351
13,823,556 14,186,104 11+,589,544 14,859,219 14,847,390

6,741,318
512,370
7,253,688

222,045

Miscellaneous liabilities:
Bills payable, rediscounts, and other liabilities
for borrowed m on ey...........................................
Acceptances executed by or for account of re­
porting banks and outstanding......................
Mortgage bonds and participation certificates

46,299

35,019

38,558

32,296

35,425

30,082

26,929

17,584

15,550

13,609

175,659

198,718

180,299

203,226

215,267

176,128

122,601

140,404

122,169

126,107

15,520
44,640

12,964
35,254
54,499
77,641
247,978
586,324

6,613
37,451
64,479
86,786
251,017
584,065

4,906
40,731
69,859
76,562
214,033
545,807

50,365,000 52,910,819

56,622,156

Dividends declared but not yet payable7.............
Incom e collected but not earned............................
Expenses accrued and unpaid.................................. |

35,304
37,897

31,347
43,598

27,578
45,682

23,634
48,502

21,823
46,599

18,924
46,301

214,630

260,217

351,598

290,995

359,431

313,251

T otal miscellaneous liabilities7.....................

509,789

568,899

643,715

598,653

678,545

584,686

41,052,181 44,716,210

f
306,338 \
[
516,028

47,293,014 49,881,779 48,508,500 47,808,374 47,976,769

CORPORATION

703,876
802,196
813,974
832,437
935,237
26,287,571 28,217,239 27,242,649 26,389,765 26,121,112

INSURANCE

27,196,842
790,162
2,885,787

DEPOSIT

23,476,863 24,772,378
837,964
738,520
2,942,191 3,122,328

10,236,013 10,575,116
1,355,785 1,299,133
30,874
85,102
612,126
597,319
279,928
372,479
405,187
325,624
12,972,322 13,202,364

Interbank deposits:
Banks in the United States......................................
Banks in foreign countries........................................
Total interbank deposits.................................

21,463,913 23,419,236 22,624,279 22,106,285 21,986,370
651,489
801,354
560,370
946,564
1,105,886
2,885,335 2,916,202 3,164,685 2,668,152 2,870,496

921,170
445,727
21,866,801 24,550,779

Postal savings8.............................................................
States and political subdivisions.............................
T otal tim e deposits7...........................................




1939

1938

18,029,625 20,074,063
881,308
804,567
2,586,882 2,674,238

T im e
deposits
(exclusive
of
interbank
deposits):
Individuals, partnerships, and corporations:
Savings deposits......................................................
Certificates of deposit. . . .....................................
Christmas savings and similar a ccou nts...........

Total
liabilities
(excluding
capital
accounts)7...................................................

1935-1939— C ontinued

FEDERAL

LIABILITIES
Demand deposits (exclusive of interbank
deposits):
Individuals, partnerships, and corporations........
United States G overnm ent.......................................
States and political subdivisions.............................
Certified and officers’ checks, cash letters of
credit and travelers’ checks outstanding, and
amounts due to Federal Reserve b an k s. . . .
T otal demand deposits.....................................

1937

1936

1935

ates

CAPITAL ACCOUNTS
Capital accounts:
Capital stock, notes, and debentures.
Surplus......................................................
Undivided profits7..................................
Reserve for contingencies....................
All other capital accounts7..................
Total capital accounts.................

3,101,588
1,342,620

2,994,476
1,180,649

3,081,433
2,184,512
662,044
372,191
28,522
6,328,702

3,053,970
2,225,180
701,477
382,287
33,144
6,396,058

3,030,146
2,268,179
703,569
365,082
37,066
6,404,042

3,018,570
2,292,137
723,885
317,722
40,179
6,392,493

53,591,602 56,210,481 54,904,558 54,212,416 54,369,262

3,438,857
1,043,355

3,217,375
1,014,004

3,190,912
948,196

2,922,595
939,260

2,954,886
2,381,233
799,018
322,503
57,400
6,515,040

2,914,004
2,442,853
789,340
318,432
59,741
6,524,370

56,800,254 59,425,859

63,146,526

3,838,827

3,590,329

3,368,921

3,341,823

3,122,346

192,303
35,742
4,295,471

185,225
68,984
4,459,751

3,512,481

3,380,256

3,452,532

796,510
28,760
18,593
4,224,119

886,246
12,673
21,716
4,373,167

Back figures— June 30 and December 31, 1934:




BANKS

1 Excludes the following insured banks not members of the Federal Reserve System: 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; 2 on December 31, 1937; 4 on June 30, 1938; 2 on December 31, 1938; 2 on June 30, 1939; and 3 on December 30, 1939.
2 Includes Hom e Owners’ Loan Corporation 4 percent bonds guaranteed as to interest only.
3 Federal Hom e Loan Bank debentures held on December 31, 1937, and June 30, 1938, are included for those dates with “ obligations of other domestic corporations.”
4 Includes “ obligations of real estate corporations” for which separate figures for call dates prior to June 30, 1938, are given on page 109 of the Annual Report for 1937.
5 Amounts of loans and securities for call dates prior to December 31, 1938, are not entirely comparable with amounts reported for subsequent calls because “ investments
and other assets (chiefly loans) indirectly representing bank premises and other real estate” were not reported separately.
6 Revised for banks not members of the Federal Reserve System due to the improper reporting by some banks of “ agricultural loans,” “ commercial and industrial loans,”
and “ all other loans” as “ other loans for the purpose of purchasing or carrying securities.”
7 For revisions relating to call dates prior to December 31, 1938, see the Annual Report for 1938, pages 164-67.
8 Includes for call dates beginning December 31, 1938, “ United States Treasurer’s time deposits, open accounts.”
9 Amounts not reported for call dates prior to December 31, 1938.

OPERATING

3,240,894
964,648

O
F

3,130,765
936,661

733,788
16,015
67,872
4,330,156

3,492,359

3,244,241
951,892
188,999
99,048
4,484,180

3,445,769

3,114,308
979,258

2,981,666
2,346,708
741,674
310,453
54,753
6,435,254

LIABILITIES

Secured and preferred liabilities:
Deposits secured by pledged assets pursuant to
requirements of la w ...........................................
Deposits preferred under the provisions of law
but not secured by pledge of assets9.............
Borrowings secured by pledged assets9.................
Other liabilities secured by pledged assets9.........
T otal secured and preferred liabilities... .

47,265,383 50,926,635

3,212,615
2,042,072
626,823
399,333
17,745
6,298,588

AD
N

MEMORANDA
Pledged assets and securities loaned:
United States Government obligations, direct
and guaranteed, pledged to secure liabilities.
Other assets pledged to secure liabilities..............
Assets pledged to qualify for exercise of fiduciary
or corporate powers, and for purposes other
than to secure liabilities9..................................
Securities loaned9........................................................
Total pledged assets and securities loaned

3,300,196
1,946,020
547,694
405,171
11,344
6,210,425

ASSETS

Total liabilities and capital accounts7. . .

3,365,309
1,892,655
529,230
418,597
7,411
6,213,202

see the Annual Report for 1938, p. 164.

00

T a b le 118.

CLASSES OF SECURITIES HELD BY OPERATING INSURED COMMERCIAL BAN KS, CALL DATES 1934-1939

June 30
Number of b an k s........................................................

1935
June 29

13,896

14,175

1936
June 30
14,059

1937

Dec. 31
13,970

June 30
13,885

1938

D ec. 31

June 30

13,795

13,723

1939

D ec. 31
13,659

June 30
13,569

Dec. 30
13,535

(In thousands of dollars)

Governmental obligations— to ta l............................. 12,854,538 15,282,877 17,948,332 17,849,846 16,980,651 16,574,202 16,525,910 17,885,598 18,593,078 19,260,388
U . S. Government, direct and guaranteed............... 10,301,500 12,362,487 14,772,477 14,749,553 13,964,712 13,669,352 13,525,194 14,506,807 15,038,215 15,567,480
340,347
397,878
344,163
331,709
317,930
321,020
273,466
367,458
413,469
407,728
U . S. Government agencies, not guaranteed...........
States and political subdivisions................................. 2,279,572 2,580,043 2,777,977 2,756,130 2,684,230 2,586,920 2,679,696 3,011,333 3,141,394 3,285,180
2,809,818
1,025,574
975,497
808,747

3,296,583
1,173,943
1,176,996
945,644

3,542,388
1,232,832
1,287,352
1,022,204

3,299,386
1,203,111
1,137,234
959,041

3,068,339
1,121,469
1,035,529
911,341

2,926,606
1,056,801
982,014
887,791

2,815,850
993,349
973,955
848,546

2,660,748
942,958
886,300
831,490

2,441,802
910,914
760,282
770,606

Miscellaneous securities— to ta l.................................
Foreign securities— public and private......................
Stocks of Federal Reserve ban ks................................
Stocks of other domestic corporations.......................

1,015,357
334,236
145,990
535,131

943,792
295,610
146,382
501,800

939,171
297,859
130,810
510,502

915,025
278,638
130,744
505,643

898,526
273,068
132,238
493,220

834,231
217,852
132,637
483,742

826,049
207,938
133,510
484,601

749,220
214,512
134,494
400,214

739,083
219,502
134,942
384,639

725,649
218,621
135,546
371,482

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

38.0

40.3

41.4

39.7

38.6

37.8

37.3

37.8

37.0

35.5

Governmental obligations— to ta l.............................
U . S. Government, direct and guaranteed...............
U . S. Government agencies, not guaranteed...........
States and political subdivisions.................................

29.6
23.7
.6
5.3

32.3
26.2
.7
5.4

33.5
27.6
.7
5.2

31.8
26.3
.6
4.9

30.9
25.4
.6
4.9

30.6
25.2
.6
4.8

30.4
24.9
.6
4.9

31.5
25.6
.6
5.3

31.3
25.3
.7
5.3

30.5
24.7
.6
5.2

Domestic corporate bonds— to ta l.............................
Public utilities..................................................................
O ther...................................................................................

6.1
2.1
2.1
1.9

6.0
2.2
2.1
1.7

6.2
2.2
2.2
1.8

6.3
2.2
2.3
1.8

6.0
2.2
2.1
1.7

5.7
2.1
1.9
1.7

5.4
2.0
1.8
1.6

5.0
1.8
1.7
1.5

4.5
1.6
1.5
1.4

3.9
1.5
1.2
1.2

Miscellaneous securities— to ta l.................................
Foreign securities— public and private......................
Stocks of Federal Reserve banks................................
Stocks of other domestic corporations.......................

2.3
.8
.3
1.2

2.0
.6
.3
1.1

1.7
.6
.2
.9

1.6
.5
.2
.9

1.7
.5
.3
.9

1.5
.4
.2
.9

1.5
.4
.2
.9

1.3
.4
.2
.7

1.2
.4
.2
.6

1.1
.3
.2
.6

(As percentage of total assets)




CORPORATION

2,628,190
915,267
902,784
810,139

INSURANCE

Domestic corporate bonds— to ta l.............................
Railroads...........................................................................
Public utilities..................................................................
Other...................................................................................

DEPOSIT

Total securities..................................................................... 16,498,085 19,036,487 22,184,086 22,307,259 21,178,563 20,476,772 20,278,565 21,450,668 21,992,909 22,427,839

FEDERAL

1934

(As percentage of total loans and securities)
56.3

57.2

57.8

57.1

48.1
39.6
1.1
7.4

46.6
38.5
.9
7.2

44.4
36.5
.9
7.0

44.5
36.7
.9
6.9

45.9
37.6
.9
7.4

47.7
38.7
.9
8.1

48.9
39.5
1.1
8.3

49.0
39.6
1.0
8.4

D o m e s tic co r p o r a t e b o n d s — t o t a l ................
R ailroads..............................................................
Public utilities.....................................................
Other......................................................................

8.3
2.9
2.8
2.6

8.4
3.1
2.9
2.4

8.9
3.2
3.2
2.5

9.3
3.2
3.4
2.7

8.6
3.1
3.0
2.5

8.2
3.0
2.8
2.4

8.1
2.9
2.7
2.5

7.5
2.7
2.6
2.2

7.0
2.5
2.3
2.2

6.2
2.3
1.9
2.0

M is c e lla n e o u s s e cu ritie s— t o t a l ....................
Foreign securities— public and private........
Stocks of Federal Reserve b an k s...................
Stocks of other domestic corporations..........

3.2
1.0
.5
1.7

2.8
.9
.4
1.5

2.5
.8
.3
1.4

2.4
.7
.4
1.3

2.4
.7
.4
1.3

2.3
.6
.4
1.3

2.3
.6
.4
1.3

2.0
.6
.4
1.0

1.9
.6
.3
1.0

1.9
.6
.3
1.0

T o t a l s e c u r it ie s ........................................................

100.0

100.0

100.0

100.0

100.0

100.0

100.0

100.0

100.0

100.0

G o v e r n m e n ta l o b lig a tio n s — t o t a l ................
U . S. Governm ent, direct and guaranteed..
U . S. Government agencies, not guaranteed
States and political subdivisions....................

77.9
62.4
1.7
13.8

80.3
64.9
1.8
13.6

80.9
66.6
1.8
12.5

80.0
66.1
1.5
12.4

80.2
65.9
1.6
12.7

80.9
66.8
1.5
12.6

81.5
66.7
1.6
13.2

83.4
67.6
1.7
14.1

84.5
68.4
1.9
14.2

85.9
69.4
1.8
14.7

D o m e s tic co r p o r a t e b o n d s — t o t a l ...............
R ailroads..............................................................
Public utilities.....................................................
Other......................................................................

15.9
5.5
5.5
4.9

14.8
5.4
5.1
4.3

14.9
5.3
5.3
4.3

15.9
5.5
5.8
4.6

15.6
5.7
5.4
4.5

15.0
5.5
5.1
4.4

14.4
5.2
4.8
4.4

13.1
4.6
4.5
4.0

12.1
4.3
4.0
3.8

10.9
4.1
3.4
3.4

M is c e lla n e o u s se cu ritie s— t o t a l ....................
Foreign securities— public and private . . . .
Stocks of Federal Reserve ban k s...................
Stocks of other domestic corporations..........

6.2
2.0
.9
3.3

4.9
1.5
.8
2.6

4.2
1.3
.6
2.3

4.1
1.2
.6
2.3

4.2
1.3
.6
2.3

4.1
1.1
.6
2.4

4.1
1.0
.7
2.4

3.5
1.0
.6
1.9

3.4
1.0
.6
1.8

3.2
1.0
.6
1.6

T o t a l s e c u r it ie s ........................................................

100.0

115.4

134.5

135.2

128.4

124.1

122.9

130.0

133.3

135.9

G o v e r n m e n ta l o b lig a tio n s — t o t a l ................
U. S. Government, direct and guaranteed. .
U . S . Government agencies, not guaranteed
States and political subdivisions....................

100.0
100.0
100.0
100.0

118.9
120.0
124.5
113.2

139.6
143.4
145.5
121.9

138.9
143.2
125.9
120.9

132.1
135.6
121.3
117.8

128.9
132.7
116.3
113.5

128.6
131.3
117.4
117.6

139.1
140.8
134.4
132.1

144.6
146.0
151.2
137.8

149.8
151.1
149.1
144.1

D o m e s tic c o r p o r a te b o n d s — t o t a l ................
R ailroads............... ..............................................
Public utilities.....................................................
Other......................................................................

100.0
100.0
100.0
100.0

106.9
112.1
108.1
99.8

125.4
128.3
130.4
116.7

134.8
134.7
142.6
126.2

125.5
131.4
126.0
118.4

116.7
122.5
114.7
112.5

111.4
115.5
108.8
109.6

107.1
108.5
107.9
104.7

101.2
103.0
98.2
102.6

92.9
99.5
84.2
95.1

M is ce lla n e o u s s e c u ritie s — t o t a l ....................
Foreign securities— public and p riva te........
Stocks of Federal Reserve b an k s...................
Stocks of other domestic corporations..........

100.0
100.0
100.0
100.0

93.0
88.4
100.3
93.8

92.5
89.1
89.6
95.4

90.1
83.4
89.6
94.5

88.5
81.7
90.6
92.2

82.2
65.2
90.9
90.4

81.4
62.2
91.5
90.6

73.8
64.2
92.1
74.8

72.8
65.7
92.4
71.9

71.5
65.4
92.8
69.4

(As percentage of total securities)

(As percentage of amount held on June 30, 1934)

N O T E . See footnotes 1 to 5, Table 117.
Back figures— December 31, 1934, and December 31, 1935: see the Annual Report for 1938, p. 168.




BANKS

55.0

45.5
36.8
1.0
7.7

OPERATING

55.4

40.6
32.5
.9
7.2

O
F

58.3

G o v e r n m e n ta l o b lig a tio n s — t o t a l ................
U . S. Governm ent, direct and guaranteed..
U . S. Government agencies, not guaranteed
States and political subdivisions....................

LIABILITIES

59.5

AD
N

56.7

ASSETS

52.1

T o t a l s e c u r it ie s ........................................................

CO
CO

Table 119.

A s s e t s AND LIABILITIES OF OPERATING INSURED COMMERCIAL BANKS N O T MEMBERS OF THE FEDERAL RESERVE SYSTEM,

C a l l D a t e s 1935-1939
(Amounts in thousands of dollars)
1935
June 29
N um ber of banks1...............................................

Dec. 31

June 30

1937
Dec. 31

June 30

1938

Dec. 31

June 30

1939
Dec. 31

June 30

Dec. 30

7,239

7,173

204,848

202,567

219,930

214,892

200,062

197,697

204,744

205,627

225,940

256,956
972,764
43,783
4,101
49,262

261,386
1,016,739
44,851
3,711
46,621

298,823
1,174,202
49,616
2,123
61,580

254,501
985,833
48,493
2,777
47,907

287,071
996,152
47,172
2,527
59,730

290,877
973,918 } 1,360,305
64,138
43,980
3,085
2,695
46,165
54,994

1,421,894
46,289
1.457
55,929

1,768,656
44,038
1,014
53,688

1,531,714

1,575,875

1,806,274

1,554,403

1,592,714

1,555,332

1,687,266

1,731,196

2,093,336

3,431
199,996
464,482

4,186
267,482
521,901

2,694
229,296
663,984

6,141
276,416
697,206

6,951
290,736
700,961

2,614
272,371
669,756

4,087
259,137
793,358

4,862
205,848
791,068

8,046
164,807
796,159

598,646

667,909

793,569

895,974

979,763

998,648

944,741

1,056,582

1,001,778

969,012

2,991
2209,750
114,204

1,989
209,465
127,535

1,994
188,016
116,966

2,381
195,124
110,870

1,509
196,413
98,093

2,255
201,208
95,691

1,904
149,170
73,790
12,618

8,706
135,805
69,298
13,885

16,836
158,296
63,636
20,608

30,015
154,692
56,202
29,404

326,945

338,989

306,976

303,375

296,015

299,154

237,482

227,694

259,376

270,313

43,456
1,055

48,955
873

49,828
2,686

45,343
3,192

38,099
4,236

494,189

525,403

20,470
1,020
11,780

18,987
2,337
9,707

474,534

529,514

28,749
3,830
(3)
531,918

24,707
1,998
9,874

457,024

32,881
4,769
(3)
535,933

3,911

4,315

4,677

4,376

587,181

593,493

5,908

4,324

j

563,541

4,708
200,516
210,820

195,635
234,648

225,605
250,841

240,898
285,267

246,170
266,501

235,826
241,058

224,241
219,223

206,755
207,499
138,681
43,565

196,413
181,678
130,433
39,197

179,765
155,769
116,789
33,261

30,180
401

28,236
623

29,999
453

168,226

182,697

195,999

221,694

222,821

206,677

/
189,015 1

49,525

49,558

47,522

42,139

44,920

36,550

30,246 \
I

CORPORATION

7,321

INSURANCE

7,385

DEPOSIT

7,454

5,414
162,194
431,038

J

7,528

1,335,900

Other securities:
Obligations of Government corporations and
agencies, not guaranteed by U. S. G ov t:
Federal Land banks...............................................
Federal Intermediate Credit ban ks...................
Other Government corporations and agencies
Obligations of States and political subdivisions. .
Obligations of territorial and insular possessions
of the United States...........................................
Obligations of other domestic corporations:
R ailroads...................................................................
Public utilities..........................................................
Industrials................................................................
All other4...................................................................
Foreign bonds, notes, and debentures— public
 private........................................................... |
and
Stocks of foreign corporations.................................
http://fraser.stlouisfed.org/

7,594

233,015
853,898
39,566
4,981
35,962

Obligations guaranteed by the U. S. G ovt:
Reconstruction Finance C orporation.....................
Home Owners’ Loan C orporation..........................
Federal Farm Mortgage C orporation....................
Other Government corporations and agencies
T otal obligations guaranteed by the
United States G overnm en t....................

7,659

168,478

Direct obligations of the U. S. G overnm ent:
Treasury bills................................................................
Treasury n otes.............................................................
B on d s.............................................................................
Total direct obligations of the United
States Governm ent....................................

7,736

FEDERAL

7,765

ASSETS
Cash, balances with other banks, and cash
item s in process of collection:
Currency and c o in ......................................................
Demand balances with banks in the United
States (except private banks and American
branches of foreign banks):
In New York C ity ..................................................
Elsewhere..................................................................
Other balances with banks in the United S tates..
Balances with banks in foreign countries.............
Cash items in process of collection........................
Total cash, balances with other banks,
and cash item s in process of collection

Federal Reserve Bank of St. Louis

1936

Corporate stocks of:
Affiliates of reporting ban ks.....................
Other domestic b an k s.................................
Other domestic corporations.....................
T o t a l o t h e r s e cu ritie s 5............................

1,449,099

1,385,038

2,724,877

2,682,840

2,495,656

2,587,938

2,530,558

2,449,151

37,954

40,932

54,276

63,816

56,055

46,897

35,665

39,007

39,754

460
528
5,477

284
231
1,589

315
494
1,959

385
947
2,379

436
2,111
1,740

323
2,275
1,360

180
1,294
1,158

41
385
1,165

19
221
1,716

17,897
6,810

18,629
7,191

28,049
8,107

22,585
7,819

14,417
6,649

28,494

24,608

26,710

236,290

233,088

229,377

239,712

236,619

240,146

802,623
7,337

792,797
6,173
240,992
229,765

812,946
5,160
211,482
244,446

839,170
4,323
266,654
268,971

856,954
3,554
288,297
265,499

/
868,952 \
3,727
332,867
271,353

241,273
696,285
205,635
3,218
6348,412
6422,249

246,564
692,603
222,938
1,919
405,027
445,057

245,577
713,446
221,702
957
364,860
448,936

92,161

86,968

17,494
6,616 {

71,425,292
7994,457

1,983
2,791,917

1,513
2,787,980

675,644
6755,050
2,001
2,816,558

92,167
726,369
1,455
2,899,305

93,265
745,737
1,301
2,904,201

4,850,238

5,056,011

5,272,439

5,483,919

5,474,757

5,283,636

5,404,496

5,429,863

5,353,352

211,293

204,582
f

197,372
36,029

193,577
35,482

190,506
32,949

186,999
29,115

[}

145,735

144,622

141,323

139,306

/
183,509 \
27,097
J
141,213 j

154,080
24,246
25,402
87,161
51,359

149,853
23,273
23,011
72,569
50,695

144,834
22,007
20,210
66,557
47,706

15,131

15,078

11,180

10,494

6,903

]

7,683

7,498

7,887

1

3,952

4,231

4,742

353,883

331,130

313,943

1,649
7,859
1,503
13,763
24,774

2,002
7,977
1,915
13,647
25,541

2,348
7,132
1,309
14,157
24,946

7,470,419

7,517,730

7,785,577

(

168,487

183,744

(5
)

(5)
388,326

394,267

388,759

375,958

1,183
|

379,780

365,914

1,424

2,313

1,867

3,602

2,637
32,108

62,636

44,035

39,489

33,387

34,375

63,819

45,459

41,802

35,254

37,977

34,745

7,067,955

7,502,726

7,452,257

7,468,130

6,546,781

6,815,737

358,722

2,416
f
25,584 \
[
28,000
7,225,690

135

71,057,603

1,480
2,759,042

BANKS

71,040,801

2,482
2,605,011

OPERATING

71,005,918

1,740
2,588,890

O
F

1 7l f015,479
2,954
2,543,622

4,767,282

T o t a l loa n s a n d se cu ritie s 57.....................
B an k p rem ises, fu r n itu r e a n d fixtures, and
o th e r rea l e sta te :
Bank premises.............................................................
Furniture and fixtures............................................... |
Farm land (including im provem ents)...................
Residential properties................................................ i
Other real properties..................................................
Investments indirectly representing bank prem­
ises or other real esta te....................................
Other assets indirectly representing bank prem­
ises or other real esta te....................................
T o t a l b a n k p rem ises , fu r n itu r e and
fixtures, a n d o t h e r rea l e s t a t e ... .




94,828

LIABILITIES

1,463,079
2,667,428

95,995

AD
N

1,366,576
2,467,121

106,910

ASSETS

1,299,718
2,306,616

118,914

L o a n s, d is c o u n ts , a n d o v e rd ra fts (in clu d in g
r e d is c o u n t s ):
37,621
Commercial paper bought in open m arket..........
N otes, bills, acceptances, etc., payable in foreign
459
countries...............................................................
537
Acceptances of other banks, payable in the U. S.
3,751
Reporting banks’ own acceptances........................
Loans to brokers and dealers in securities:
19,224
In New York C it y .................................................
5,688
Elsewhere..................................................................
Heal estate loans:
238,946
On farm land...........................................................
On residential properties......................................
814,066
On other properties................................................ }
8,753
Loans to banks............................................................
Agricultural loans (excluding loans on farm land)
Commercial and industrial loa n s...........................
Other loans for the purpose of purchasing or ■n,456,247
carrying securities............................................
All other loa n s..........................................................
2,155
Overdrafts..................................................................
2,587,447
T o t a l loa n s, d is c o u n ts , a n d overd ra fts57.

T o t a l a ssets7..............................................

7,586
14,247
47,433
1,209,826

1,254,244

T o t a l s e cu ritie s 5.....................................

M is ce lla n e o u s a ssets:
Customers’ liability to reporting banks
acceptances outstanding..........................
Incom e accrued but not collected ..................
Prepaid expenses.................................................
Other assets7........................................................
T o t a l m is c e lla n e o u s assets7...................

8,503
14,464
49,406
1,269,404

f
9,184
14,417
81,887 \
(
52,860
1,313,433
1,303,662

2,179,835

J

T a b le 119.

ASSETS AND LIABILITIES OF OPERATING INSURED COMMERCIAL BANKS N O T MEMBERS OF THE FEDERAL RESERVE SYSTEM,

C a l l D a t e s 1 935-1939— C o n tin u e d
(Amounts in thousands of dollars)
CO
_______________ __________________________________________________________________________________________________________________________________________________________________
1937

1936

1935

1938

Dec. 31

June 30

Dec. 31

June 30

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

2,170,174
17,518
556,823

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

2,250,367
487,005
20,369
54,712
65,876
40,548
2,918,877

2,281,256
483,232
9,371
63,754
62,364
43,841
2,943,818

2,367,563
491,911
22,996
47,582
43,606
50,930
3,024,588

2,499,921
488,688
7,024
54,303
35,368
50,855
3,136,159

2,569,941
485,772
29,329
59,933
31,866
54,149
3,230,990

Interbank deposits:
Banks in the United States......................................
Banks in foreign countries........................................
T otal interbank deposits.................................

87,410
1,310
88,720

94,620
4,204
98,824

95,514
4,225
99,739

102,288
4,690
106,978

T otal deposits7..................................................
D em a n d ............................................................
Time7 ................................................................

5,382,220
2,b5b,b99
2,927,721

5,693,128
2,739,673
2,953^55

5,943,735
2,907,052
3,036,683

30,023

20,820

1,090

1,147

7,729
1,621

41,633
2,786,148

47,596
3,009,921

47,746
3,007,232

49,488
3,254,397

2,639,196
473,205
7,978
65,391
31,262
106,323
3,323,355

2,596,793
466,681
29,765
61,580
27,333
96,126
3,278,278

2,639,258
456,660
6,828
63,932
24,810
113,066
3,304,554

2,693,270
458,269
31,395
52,052
20,392
94,111
3,349,489

2,739,212
452,817
7,250
56,668
17,910
95,200
3,369,057

92,812
3,074
95,886

97,029
2,693
99,722

86,667
1,330
87,997

99,378
1,685
101,063

95,161
1,618
96,779

109,024
3,719
112,743

6,397,800
3,250,807
3,1 If.6,993

6,339,909
3,097,513
3,21+2,396

6,385,032
S,0U7,U5
3,337,587

6,152,423
2,861,090
3,291,333

6,415,538
3,096,399
3,319,139

6,453,500
3,088,63b
3,36b,866

6,736,197
3,351,51b
3,38b,683

18,706

15,116

17,991

15,432

15,115

11,375

10,888

10,368

2,078

1,739

3,468

2,517

2,441

1,667

2,005

2,352

6,905
2,579

6,801
1,683

5,101
3,071

4,854
2,500

3,844
2,878

3,366
1,631

24,522

25,905

31,731

26,376

26,272

25,560

64,985

57,356

60,999

51,403

55,085

50,231

3,237
2,590
10,850
7,958
6,197
43,874

2,743
1,619
12,599
8,335
7,227
45,416

2,187
2,763
13,549
7,872
7,678
46,769

5,447,205

5,750,484

6,004,734

6,149,203

6,394,994

6,435,263

6,459,412

6,498,916

6,782,966

29,116
2,374,623

T im e
deposits
(exclusive
of
interbank
deposits):
Individuals, partnerships, and corporations:
Savings d ep osits......................................................
Certificates of d ep osit............................................
Christmas savings and similar a ccou n ts...........
Open accounts7........................................................
Postal s a v in g s .............................................................
States and political subdivisions.............................
T otal tim e deposits7...........................................

Total
liabilities
(excluding capital
FRASER accounts)7...................................................

Digitized for


f
25,770 \
I
48,323
6,200,746

CORPORATION

2,592,860
47,596
564,453

2,038,981
37,267
534,774

INSURANCE

2,324,209
44,519
590,758

1,823,382
25,851
496,274

Dec. 31

DEPOSIT

2,357,675
48,148
556,502

June 30

FEDERAL

Dec. 30

Dec. 31

Miscellaneous liabilities:
Bills payable, rediscounts, and other liabilities
for borrowed m oney...........................................
Acceptances executed by or for account of re­
porting banks and outstanding.......................
Mortgage bonds and participation certificates
outstanding..........................................................
Dividends declared but not yet payable...............
Incom e collected but not earned............................
Expenses accrued and unpaid.................................. |
Other liabilities7...........................................................
T otal miscellaneous liabilities7.....................

1939
June 30

June 29
LIABILITIES
Demand deposits (exclusive of interbank
deposits):
Individuals, partnerships, and corporations........
United States G overnm ent.......................................
States and political subdivisions.............................
Certified and officers’ checks, cash letters of
credit and travelers’ checks outstanding, and
amounts due to Federal Reserve b an k s. . . .
T otal dem and deposits.....................................

*
C*

627,593
248,142
104,508
62,374
10,906
1,053,523

609,721
253,716
118,415
62,639
12.772
1,057,263

599,540
257,758
106,854
53,727
14,988
1,032,867

589,164
257,064
113,420
49,508
15,788
1,024,944

578,568
263,982
106,126
45,108
17,223
1,011,007

564,863
269,664
120,985
45,816
17,486
1,018,814

550,775
276,461
114,606
41,819
18,950
1,002,611

Total liabilities and capital accounts7. . ..

6,546,781

6,815,737

7,067,955

7,502,726

7,452,257

7,468,130

7,225,690

7,470,419

7,517,730

7,785,577

225,203
256,788

244,182
238,010

265,258
199,182

277,258
190,574

255,421
190,697

279,744
183,347

262,602
202,566

292,828
206,462

296,603
210,302

277,637
207,586

37,473
293
502,206

30,933
472
499,237

27,862
65
474,045

25,371
109
488,571

19,469
269
484,906

21,998
291
521,579

21,185
92
528,182

21,657
637
507,517

406,005

408,743

374,035

372,788

372,616

411,120

420,019

395,945

60,505
20,221
16,551
503,282

74,008
14,645
13,113
510,509

66,790
16,552
9,710
467,087

75,545
14,270
5,448
468,051

75,700
14,226
2,412
464,954

81,530
10,412
4,152
507,214

73,258
10,037
3,271
506,585

88,457
9,985
2,019
496,406

MEMORANDA
Pledged assets and securities loaned:
United States Government obligations, direct
and guaranteed, pledged to secure liabilities
Other assets pledged to secure liabilities..............
Assets pledged to qualify for exercise of fiduciary
or corporate powers, and for purposes other
than to secure liabilities8..................................
Securities loaned8........................................................
Total pledged assets and securities loaned
Secured and preferred liabilities:
Deposits secured by pledged assets pursuant to
requirements of la w ...........................................
Deposits preferred under the provisions of law
but not secured by pledge of assets8.............
Borrowings secured by pledged assets8...............
Other liabilities secured by pledged assets8.........
T otal secured and preferred liabilities

362,174

391,638

137




see the Annual Report for 1938, p. 170.

BANKS

Back figures— June 30 and December 31, 1934:

OPERATING

1 Excludes the following insured banks not members of the Federal Reserve System: 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; 2 on December 31, 1937; 4 on June 30, 1938; 2 on December 31, 1938; 2 on June 30, 1939; and 3 on December 30, 1939.
2 Includes Hom e Owners’ Loan Corporation 4 percent bonds guaranteed as to interest only.
3 Federal Hom e Loan Bank debentures held on December 31, 1937, and June 30, 1938, are included for those dates with “ obligations of other domestic corporations.”
4 Includes “ obligations of real estate corporations” for which separate figures for call dates prior to June 30, 1938, are given on page 113 of the Annual Report for 1937.
6 Amounts of loans and securities for call dates prior to June 30, 1936, are not entirely comparable with amounts reported for subsequent calls because “ investments and
other assets (chiefly loans) indirectly representing bank premises and other real estate” were not reported separately.
6 Revised, due to the improper reporting by some banks of “ agricultural loans,” “ commercial and industrial loans,” and “ all other loans” as “ other loans for the purpose
of purchasing or carrying securities.”
7 For revisions relating to call dates prior to December 31, 1938, see the Annual Report for 1938, pages 170-73.
8 Amounts not reported for call dates prior to June 30, 1936.

O
F

645,418
235,556
107,572
68,023
6,652
1,063,221

LIABILITIES

666,456
235,421
89,792
68,796
4,788
1,065,253

AD
N

681,990
245,631
93,085
75,069
3,801
1,099,576

ASSETS

CAPITAL ACCOUNTS
Capital accounts:
Capital stock, notes, and debentures....................
Surplus...........................................................................
Undivided profits7.......................................................
Reserve for contingencies.........................................
All other capital accounts7.......................................
Total capital accounts......................................

T able 120.

A s s e t s AND L IA B IL IT IE S OF OPERATING INSURED COMMERCIAL B A N K S NOT M E M B E R S OF THE F E D E RA L R E S E R V E SYSTEM,
D e c e m b e r 30, 1939

18
3

BANKS GROUPED ACCORDING TO AMOUNT OF DEPOSITS
Banks with deposits of—
All
banks

$ 100,000

381

Number of banks1.

$ 100,000

to
$250,000
1,929

$250,000
to
$500,000

2,002

87

223,863
1,804,634
52,909

1,454
11,591
88

12,642
111,494
930

24,023
222,253
2,073

33,068
298,583
4,353

40,924
329,287
8,099

39,472
303,472
11,803

19,533
157,669
7,259

32,991
299,454
13,165

19,756
70,831
5,139

2,081,406

13,133

125,066

248,349

336,004

378,310

354,747

184,461

345,610

95,726

965,171

2,517

35,720

73,958

102,042

125,828

158,824

86,937

226,410

152,935

268,704

546

8,545

21,029

35,852

47,149

50,943

27,274

43,753

33,613

593,267
613,791
2,440,933

1,821
732
5,616

27,266
16,026
87,557

64,787
44,428
204,202

97,977
82,639
318,510

107,550
117,303
397,830

96,203
142,062
448,032

46,958
62,503
223,672

99,191
117,137
486,491

51,514
30,961
269,023

446,231

1,906

19,105

42,977

69,951

97,013

103,684

43,494

62,164

5,937

364,853
39,724

8,379
21

72,017
518

110,066
1,968

95,947
4,057

53,673
6,128

19,874
12,062

3,013
4,828

1,884
9,642

500

2

5

4

19

8

United States......................................
Reporting banks’ own acceptances . . . .
Loans to brokers and dealers in securities. . .

221
1,716
26,664

26

5
7
33

44
226
143

2
17
266

21
61
629

21
31
2,348

67
35
2,945

61
1,313
10,289

10,011

or carrying securities........................
Real estate loans:
On farm la n d .........................................
On residential properties......................
On other properties...............................
Loans to ban ks...........................................
All other loans.............................................
Overdrafts....................................................
Total loans, discounts, and overdrafts

93,160

49

621

2,559

6,079

13,559

19,792

10,202

33,581

6,718

245,464
707,402
220,559
957
734,070
1,299
2,882,339

2,387
1,009
366
27
3,459
43
17,672

28,219
15,913
4,455
179
43,346
195
184,617

56,168
45,915
10,938
180
84,581
244
356,009

70,766
87,895
23,270
256
116,602
276
475,384

46,733
133,719
32,031
216
143,118
230
527,133

25,382
157,386
40,261
18
126,783
114
507,761

6,813
62,203
21,426
81
63,131
106
218,344

7,537
116,899
43,503

1,459
86,463
44,309

131,298
67
418,246

21,752
24
177,173

5,323,272

23,288

272,174

560,211

793,894

924,963

955,793

442,016

904,737

446,196

Total
 loans and securities.........


CORPORATION

la n d )............................................................
Commercial paper bought in open market.
N otes, bills, acceptances, etc., payable
foreign countries.......................................

840

INSURANCE

Loans, discounts, and overdrafts (includ
ing rediscounts):
Commercial and industrial loa n s....................

$5,000,000 $ 10 , 000,000
$2 , 000,000
M ore than
to
to
to
$5,000,000 $10,000,000 $50,000,000 $50,000,000

DEPOSIT

m en t........................................................
Obligations of States and political
divisions.................................................
Other securities.............................................
T otal securities.....................................

1,454

to
$2 ,000,000

FEDERAL

Securities:
Direct obligations of the U. S. G overnm ent..

$ 1 ,000,000

(In thousands of dollars)

ASSETS
C a s h , balances with other banks, and cash
item s in process of collection:
Currency and c o in .....................................
Balances with banks..................................
Cash items in process of collection . . . .
T otal cash, balances with other banks,
and cash item s in process of col­
lection .................................................

$500,000
to
$ 1 , 000,000

Miscellaneous assets:
Bank premises owned, furniture and fixtures
Real estate owned other than bank premises
Investments and other assets indirectly
representing bank premises or other
real estate.............................................
Customers’ liability on acceptances. . . .
Incom e accrued but not collected .........
Prepaid expenses........................................
Other miscellaneous assets.......................
Total miscellaneous assets.............

31,912
27,155

13,991
12,452

39,854
45,254

7,470
5,443

10,344
2,348
7,056
1,303
14,151
335,655

23

45

218

3
5
103
1,751

34
17
295
12,034

148
24
726
22,449

703
4
362
57
1,053
35,421

1,465
17
561
123
1,402
52,655

2,642
101
887
192
1,709
64,598

1,179
109
613
86
2,527
30,957

4,041
2,114
3,377
654
5,573
100,867

28
Q
1,071
145
763
14,923

7,740,333

38,172

409,274

831,009

1,165,319

1,355,928

1,375,138

657,434

1,351,214

556,845

2,577,055
3,235,916
659,204
47,310
17,812
112,372

17,359
7,273
3,056
30
46
252

175,011
117,785
39,024
424
1,398
2,505

335,787
287,865
79,935
1,102
3,332
3,867

432,036
453,072
105,603
2,021
4,470
6,915

465,857
571,327
113,345
3,916
3,509
10,723

439,954
620,057
99,453
6,563
1,856
15,797

224,341
271,462
49,795
5,789
1,084
13,446

395,746
575,625
125,045
13,333
2,117
42,916

90,964
331,450
43,948
14,132

49,180
6,698,849
3,334,481
3,364,368

123
28,139
20,435
7,704

1,795
337,942
213,589
124,353

4,282
716,170
415,710
300,460

6,660
1,010,777
540,486
470,291

8,667
1,177,344
586,919
590,425

10,348
1,194,028
551,419
642,609

5,010
570,927
288,377
282,550

8,388
1,163,170
566,637
596,533

3,907
500,352
150,909
349,443

10,368
2,352
2,735
13,264
7,741

62

320

298

28
21
15

193
232
134

383
883
322

423
4
457
1,394
651

975
18
471
2,219
1,004

389
101
344
2,545
1,392

1
111
309
1,277
1,017

7,900
2,115
392
4,210
2,782

q
158
483
424

2,187
7,640
46,287

28
23
177

4
239
1,122

302
2,188

2
640
3,571

1,280
822
6,789

273
1,375
6,419

40
1,117
3,872

560
2,533
20,492

589
1,657

Total liabilities (excluding capital 6,745,136
accou n ts).......................................

28,316

339,064

718,358

1,014,348

1,184,133

1,200,447

574,799

1,183,662

502,009

546,790
274,287
113,919
41,404
18,797
995,197

7,196
1,730
720
115
95
9,856

46,929
13,855
7,052
1,262
1,112
70,210

70,447
25,164
12,333
2,779
1,928
112,651

89,255
36,921
17,150
5,080
2,565
150,971

98,404
43,988
19,467
6,421
3,515
171,795

94,586
45,897
21,547
8,826
3,835
174,691

42,456
25,572
9,571
3,899
1,137
82,635

78,267
57,147
20,932
9,048
2,158
167,552

19,250
24,013
5,147
3,974
2,452
54,836

7,740,333

38,172

409,274

831,009

1,165,319

1,355,928

1,375,138

657,434

1,351,214

556,845

T otal a ssets...........................................
LIABILITIES
Deposits:
Individuals, partnerships, and corporations:
D em and....................................................
T im e ..........................................................
States and political subdivisions............
United States Governm ent......................
Postal savings.............................................
Other banks.................................................
Certified and officers’ checks, cash letters of
credit and travelers' checks outstand­
ing, etc..................................................
Total deposits......................................
Demand.................................................
T im e......................................................
Miscellaneous liabilities:
Bills payable, rediscounts, and other lia­
bilities for borrowed m on ey.............
Acceptances outstanding............................
Dividends declared but not yet payable
Incom e collected but not earned .............
Expenses accrued and unpaid...........................
M ortgage bonds and participation certificates
outstanding.........................................
Other miscellaneous liabilities.................
Total miscellaneous liabilities. . .

CAPITAL ACCOUNTS
Capital accounts:
Capital stock, notes, and debentures.
Surplus........................................................
U ndivided p rofits.....................................
Reserve for contingencies......................
All other capital accou nts......................
Total capital accounts...................
T otal liabilities and capital accounts..

1 Excludes the following insured banks not members of the Federal Reserve System:
District of Columbia; and 3 other State banks.
Back figures— See the following Annual Reports:




15,951

2 national banks in Alaska; 1 national bank in the Virgin Islands; 8 State banks in the

1938, p. 174; 1937, p. 116; 1936, p. 142; 1935, p. 176; 1934, p. 198.

BANKS

28,791
20,296

OPERATING

20,939
12,303

O
F

14,206
7,127

LIABILITIES

7,828
3,815

AD
N

1,028
589

ASSETS

166,019
134,434

CO

Table 121.

AVERAGES PER B A N K OF ASSETS AND LIABILITIES OF OPERATING INSURED COMMERCIAL BANKS N O T MEMBERS OF THE
F e d e r a l R e s e r v e S y s t e m , D e c e m b e r 30, 1939
BANKS GROUPED ACCORDING TO AMOUNT OF DEPOSITS
Banks with deposits of—
All
banks

Number of banks2..............................

$ 1, 000,000
to
$2 , 000,000

1,929

7,162

2,002

1,454

$2 ,000,000
to
$5,000,000

$5,000,000 $10,000,000 More than
to
to
$50,000,000
$ 10 , 000,000 $50,000,000
0)

840

$3,292,667
11,805,166
856,500

$31,257
251,974
7,387

$3,816
30,423
231

$6,554
57,799
482

$11,999
111,016
1,035

$22,743
205,352
2,994

$48,719
392,008
9,642

$97,946
753,032
29,288

$224,517
1,812,287
83,437

$549,850
4,990,900
219,417

290,618

34,470

64,835

124,050

231,089

450,369

880,266

2,120,241

5,760,167

$134,763

$6,606

$18,517

$36,942

$70,180

$149,795

$394,104

$999,276

37,518

1,433

4,430

10,504

24,658

56,130

126,410

313,494

729,217

5,602,166

82,835
85,701
340,817

4,780
1,921
14,740

14,135
8,308
45,390

32,361
22,192
101,999

67,384
56,836
219,058

128,036
139,647
473,608

238,717
352,511
1,111,742

539,747
718,425
2,570,942

1.653.183
1,952,283
8.108.183

8,585,667
5,160,168
44,837,168

$3,773,500 $25,489,167

$62,305

$5,003

$9,904

$21,467

$48,109

$115,492

$257,280

$499,931

$1,036,067

$989,500

50,943
5,546

21,992
55

37,334
269

54,978
983

65,988
2,790

63,896
7,295

49,315
29,931

34,632
55,494

31,400
160,700

83,333

133

12
31
240
3,723

68

4
17

22
113
71

1
12
183

25
73
74,9

52
77
5,826

770
402
33,851

1,017
21,883
171,483

1,668,500

13,008

128

322

1,278

4,181

16,142

49,112

117,264

559,683

1,119,667

34,273
98,772
30,796
134
102,495
181
402,449

6,265
2,648
961
71
9,079
113
46,383

14,629
8,249
2,309
93
22,470
101
95,706

28,056
22,935
5,464
90
42,248
122
177,827

48,670
60,451
16,004
176
80,194
190
326,949

55,634
159,189
38,132
257
170,379
274
627,539

62,983
390,536
99,903
45
314,598
283
1,259,953

78,311
714,977
246,276
931
725,643
1,219
2,509,701

125,617
1,948,317
725,050

243,167
14,410,500
7,384,833

’ 2,188,300
1,117
6,970,767

'3,625,333
4,000
29,528,833

$743,266

$61,123

$141,096

$279,826

$546,007

$1,101,147

$2,371,695

$5,080,643 $15,078,950 $74,366,001

CORPORATION

Tot
a l loa n s a n d s e c u r it ie s ....................


$500,000
to
$1,000,000

INSURANCE

L o a n s, d is c o u n ts , a n d o v e r d ra fts (in c lu d ­
in g r e d is c o u n t s ):
Commercial and industrial loa n s.................
Agricultural loans (excluding loans on farm
la n d )............................................................
Commercial paper bought in open market.
N otes, bills, acceptances, etc., payable in
foreign countries...........................................
Acceptances of other banks, payable in the
United States............................................
Reporting banks’ own acceptances.............
Loans to brokers and dealers in securities.
Other loans for the purpose of purchasing
or carrying securities...................................
Real estate loans:
On farm la n d .....................................................
On residential properties................................
On other properties..........................................
X<oans to banks......................................................
All other loans.......................................................
Overdrafts..............................................................
T o t a l lo a n s, d isc o u n ts, a n d o verd ra fts

to
$250,000

$250,000
to
$500,000

DEPOSIT

S e cu ritie s :
Direct obligations of the U. S. G overnm ent. .
Obligations guaranteed b y the U. S. Govern­
ment ................................................................
Obligations of States and political sub­
divisions .....................................................
Other securities................. ..............................
T o t a l s e c u r it ie s .........................................

$ 100,000

FEDERAL

ASSETS
C ash , b a la n c e s w ith o t h e r b a n k s, a n d ca s h
ite m s in p ro ce s s o f c o lle c t io n :
Currency and c o in ................................................
Balances with banks............................................
Cash items in process of collection ..................
T o t a l ca sh , b a la n ce s w ith o t h e r b an k s,
a n d ca s h ite m s in p ro ce s s o f c o l ­
le c t io n ............................................................

$ 100,000

Miscellaneous assets:
Bank premises owned, furniture and fixtures
Real estate owned other than bank premises
Investments and other assets indirectly
representing bank premises or other
real estate.......................................................
Other miscellaneous assets.................................
Total miscellaneous assets.......................

$7,096
3,559

$14,401
8,461

$34,275
24,162

$79,186
67,382

$160,816
143,127

$664,233
754,233

$1,245,000
907,167

1,444
3,471
46,866

60
292
4,596

23
179
6,238

109
449
11,213

484
1,015
24,361

1,744
2,503
62,684

6,556
7,168
160,292

13,552
38,334
355,829

67,350
195,300
1,681,116

4,666
330,333
2,487,166

Total asse ts..................................................... $1,080,750

$100,189

$212,169

$415,089

$801,457

$1,614,200

$3,412,253

$7,556,713 $22,520,233 $92,807,500

$359,823
451,817
92,042
6,606
2,487
15,690

$45,562
19,089
8,021
78
121
661

$90,726
61,060
20,230
220
725
1,299

$167,725
143,788
39,928
551
1,664
1,932

$297,136
311,604
72,629
1,390
3,074
4,756

$554,592
680,151
134,935
4,662
4,177
12,765

$1,091,697
1,538,603
246,782
16,285
4,606
39,199

$2,578,632
3,120,253
572,356
66,540
12,460
154,552

6,867
935,332
£65,580
U
69,752

323
73,855
58,635
20,220

930
175,190
110,725
6UM5

2,139
357,727
207,6U7
150,080

4,581
695,170
371,721*
328 M S

10,318
1,401,600
698,713
702,887

25,677
2,962,849
1,368,286
1,59 U,563

57,586
6,562,379
3,31U,678
3,21*7,701

139,800
19,386,167
9 M 3,950
9,91+2,217

651,166
83,392,000
25,151,500
58,21*0,500

Miscellaneous liabilities:
Bills payable, rediscounts, and other lia­
bilities for borrowed m on ey......................
Other miscellaneous liabilities...........................
Total miscellaneous liabilities...............

$1,448
5,015
6,463

$163
302
465

$166
415
581

$149
944
1,093

$291
2,165
2,456

$1,161
6,921
8,082

$965
14,963
15,928

$12
44,494
44,506

$131,666
209,867
341,533

$276,167
276,167

T otal liabilities (excluding capital
accou n ts).................................................

$941,795

$74,320

$175,771

$358,820

$697,626

$1,409,682

$2,978,777

$76,346
38,298
15,906
5,781
2,624
138,955

$18,887
4,541
1,890
302
249
25,869

$24,328
7,183
3,656
654
577
36,398

$35,188
12,570
6,160
1,388
963
56,269

$61,386
25,392
11,795
3,494
1,764
103,831

$117,148
52,367
23,175
7,644
4,184
204,518

$234,705
113,888
53,466
21,901
9,516
433,476

T otal liabilities and capital accou n ts. . $1,080,750

$100,189

$212,169

$415,089

$801,457

$1,614,200

$3,412,253

LIABILITIES
Deposits:
Individuals, partnerships, and corporations:
D em and..............................................................
T im e....................................................................
States and political subdivisions......................
United States G overnm ent................................
Postal savings........................................................
Other banks............................................................
Certified and officers’ checks, cash letters of
credit and travelers’ checks outstand­
ing, etc.............................................................
Total deposits.................................................
Demand...........................................................
T im e................................................................

$6,595,767 $15,160,667
9,593,750 55,241,667
2,084,083
7,324,667
222,217
2,355,333
35,283
715,267
2,658,500

O
F

$1,304,450
952,450
348,867
150,800
35,966
2,792,533

$3,208,333
4,002,167
857,833
662,333
408,667
9,139,333

$7,556,713 $22,520,233 $92,807,500

1 Because of the small number of banks, the figures for this group are not necessarily typical of banks with deposits of more than $50,000,000.
2 Excludes the following insured banks not members of the Federal Reserve System: 2 national banks in Alaska; 1 national bank in the Virgin Islands; 8 State banks in the
District of Columbia; and 3 other State banks.
Back figures—See the following Annual Reports:




1938, p. 176; 1937, p. 118; 1936, p. 144; 1935, p. 178, 1934, p. 200.

BANKS

$488,000
293,931
110,012
44,816
13,069
949,828

OPERATING

$6,606,885 $19,727,700 $83,668,167

CAPITAL ACCOUNTS
Capital accounts:
Capital stock, notes, and debentures.............
Surplus.................................. ..................................
Undivided profits.................................................
Reserve for contingencies...................................
All other capital accounts..................................
Total capital accounts...............................

LIABILITIES

$4,058
1,978

AD
N

$2,698
1,546

ASSETS

$23,181
18,770

Table 122.

PE RCENTAG E D IS TR IB U TIO N OF ASSETS AND LIA BILITIES OF OPERATIN G IN SU RED COMMERCIAL B A N K S N O T M E M B E R S OF THE
F e d e r a l R e s e r v e S y s te m , D e c e m b e r 30, 1939
BANKS GROUPED ACCORDING TO AMOUNT OF DEPOSITS

^

Banks with deposits o fAll
banks
Num ber of banks2........................................

7,162

$100,000
or
less
381

$100,000
to
$250,000
1,929

$250,000
to
$500,000
2,002

$500,000
to
$1,000,000
1,454

$1,000,000
to
$2 ,000,000
840

$2,000,000
to
$5,000,000
403

$5,000,000 $10,000,000 More than
to
to
$50,000,000
$10,000,000 $50,000,000
0)
87

60

6

2 .9 %
26.7
.3

2 .8%
25.6
.4

3.0%
24.3
.6

2 .9 %
22.0
.9

3.0 %
24.0
1.1

2.4%
22.2
1.0

3.5%
12.8
.9

26.9

34.4

30.6

29.9

28.8

27.9

25.8

28.1

25.6

17.2
27.5%

12.5%

6.6%

8.7%

8.9%

8 .8%

9.3%

11.6%

13.2%

16.8%

3.5

1.4

2.1

2.5

3.0

3.5

3.7

4.2

3.2

6.0

7.7
7.9
31.6

4.8
1.9
14.7

6.7
3.9
21.4

7.8
5.4
24.6

8.4
7.1
27.3

7.9
8.6
29.3

7.0
10.3
32.6

7.1
9.5
34.0

7.4
8.6
36.0

9.3
5.5
48.3

5.8%
4.7
.5

5.0%

4.7%
17.6
.1

5.2%
13.2
.2

6 .0%

7.2%

7.6%

6 .6%

4.6%

1-1%

8.2
.4

4.0
.5

1.4
.9

.5
.7

.1
.7

.1

.2

22.0
.1

.4

.1
.8

1.8

.1
.3
1.2

.1

.2

.3

.5

1.0

1.4

1.6

2.5

1.2

3.2
9.1
2.9

6.9
3.9
1.1

6.8
5.5
1.3

6.1
7.6
2.0

3.4
9.9
2.4

1.8
11.5
2.9

1.0
9.5
3.3

.6
8.7
3.2

.2
15.5
8.0

10.6

10.5

9.2

9.6

9.7

3.9

45.1

10.2
.1
42.8

10.0

37.2

6.2
2.6
.9
.1
9.1
.1
46.3

40.8

38.9

36.9

33.2

31.0

31.8

68.8%

61.0%

66.5%

67.4%

68. 1%

68.2%

69.5%

67.2%

67.0%

80.1%

9.5

CORPORATION

Total
 loans and securities....................


3.1%
27.3
.2

INSURANCE

Loans, discounts, and overdrafts (includ­
ing rediscounts):
Commercial and industrial loans.....................
Agricultural loans (excluding loans on farm
la n d )................................................................
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 brokers and dealers in securities. . .
Other loans for the purpose of purchasing
or carrying securities...................................
Real estate loans:
On farm land.....................................................
On residential properties................................
On other properties..........................................
Loans to ban k s......................................................
All other loans.......................................................
Overdrafts..............................................................
T otal loans, discounts, and overdrafts

3.8%
30.4
.2

DEPOSIT

Securities:
Direct obligations of the U. S. G overnm ent. .
Obligations guaranteed by the U. S. Govern­
ment ................................................................
Obligations of States and political sub­
divisions ..........................................................
Other securities.....................................................
Total securities..............................................

2.9 %
23.3
.7

FEDERAL

ASSETS
Cash, balances with other banks, and cash
item s in process of collection:
Currency and c o in ................................................
Balances with banks............................................
Cash items in process of collection ..................
T otal cash, balances with other banks,
and cash item s in process of c o l­
lection............................................................

Miscellaneous assets:
Bank premises owned, furniture and fixtures.
Real estate owned other than bank premises.
Investments and other assets indirectlyrepresenting bank premises or other
real esta te............................................
Other miscellaneous assets......................
Total miscellaneous assets............

1.7%
.9

1.8%
1.1

2 .1%
1.5

2 .3 %
2.0

2 .1%
1.9

2.9%
3.3

1.3%
1.0

.1
.4
4.3

.1
.3
4.6

.1
2.9

.1
2.7

.1
.1
3.1

.1
.2
3.9

.2
.2
4.7

.2
.5
4.7

.3
.9
7.4

.4
2.7

100.0%

100.0%

100.0%

100.0%

100.0%

100.0%

100.0%

100.0%

100.0%

100.0%

33.3%
41.8
8.5
.6
.2
1.5

45.5%
19.1
8.0
.1
.1
.7

42.8%
28.8
9.5
.1
.4
.6

40.4%
34.7
9.6
.1
.4
.5

37.1%
38.9
9.1
.1
.4
.6

34.3%
42.1
8.4
.3
.3
.8

32.0%
45.1
7.2
.5
.1
1.2

34.1%
41.3
7.6
.9
.1
2.0

29.3%
42.6
9.3
1.0
.1
3.2

16.4%
59.5
7.9
2.5

.6
86.5
U .0
S
us.5

.2
73.7
53.5
20.2

.4
82.6
52.2
30.U

.5
86.2
50.0
36.2

.5
86.7
U6.3
uo.u

.6
86.8
US.3
US.5

.8
86.9
Uo.i
U6.8

.8
86.8
U .8
S
U3.0

.6
86.1
U1.9
UU-2

.7
89.9
27.1
62.8

LIABILITIES
Deposits:
Individuals, partnerships, and corporations:
D em a n d ....................................................
T im e ..........................................................
States and political subdivisions............
United States G overnm ent.....................
Postal savings.............................................
Other banks.................................................
Certified and officers’ checks, cash letters of
credit and travelers’ checks outstand­
ing, etc..................................................
Total deposits.......................................
Demand.................................................
T im e......................................................

2.9

•
1%
.5
.6

•
2%
.3
.5

.2%
.2

.2%
.2

•3%
.3

.1%
.4
.5

.4%
.4

.6%
.6

.6%
.9
1.5

.3%
.3

T otal liabilities (excluding capital
a ccou n ts).........

87.1%

74.2%

82.8%

86.4%

87.0%

87.3%

87.3 %

87.4%

87.6%

90.2%

7.1%
3.6
1.4
.5
.3
12.9

18.9%
4.5
1.9
.3
.2
25.8

11.5%
3.4
1.7
.3
.3
17.2

8.5%
3.0
1.5
.3
.3
13.6

7.7 %
3.2
1.5
.4
.2
13.0

7.3%
3.3
1.4
.5
.2
12.7

6.9%
3.3
1.6
.7
.2
12.7

6.5%
3.9
1.5
.6
.1
12.6

5.8%
4.2
1.6
.6
.2
12.4

3.5%
4.3
.9
.7
.4
9.8

100.0%

100.0%

100.0% 1

100.0%

100.0%

100.0%

100.0%

100.0%

100.0%

100.0%

O
F

Miscellaneous liabilities:
Bills payable, rediscounts, and other liabilities for borrowed m o n e y .............
Other miscellaneous liabilities...................
T otal miscellaneous liabilities. . . .

LIABILITIES

1.9%
.9

AD
N

2.7%
1.5

ASSETS

Total assets...........................................

2 .1%
1.7

Total liabilities and capital accounts.

BANKS

Capital accounts:
Capital stock, notes, and debentures.
Surplus.......................................................
Undivided p rofits.....................................
Reserve for contingencies......................
All other capital accounts.....................
T otal capital accounts...................

OPERATING

CAPITAL ACCOUNTS

1 Because of the small number of banks, the figures for this group are not necessarily typical of banks with deposits of more than $50,000,000.
2 Excludes the following insured banks not members of the Federal Reserve System: 2 national banks in Alaska; 1 national bank in the Virgin Islands; 8 State banks in the
District of Columbia; and 3 other State banks.
Back figures— See the following Annual Reports: 1938, p , 178; 1937, p. 120; 1936, p. 146; 1935, p. 180; 1934, p. 202,




CO

CAPITAL INVESTMENT OF THE RECONSTRUCTION FINANCE CORPORATION
Table 123.

N U M B E R OF IN SU R ED B A N K S W IT H RECONSTRUCTION FIN AN CE CORPORATION C A P IT A L INVESTM ENT, DEC EM BE R

31, 1934-1939

GROUPED ACCORDING TO FEDERAL RESERVE MEMBERSHIP AND BY TYPE OF BANK AND STATE
Operating banks not members of the F . R . System2

Banks members of the F . R . System1
1937

1936

1939

1938

1934

1935

1936

1938

1937

1939

COMMERCIAL BANKS
U n ited S ta tes a n d p o sses­
sion s— t o t a l ...................

1,938

1,862

1,749

3,347

3,396

3,183

32,949

2,789

2,584

24
3
28
66
30

26
2
27
63
33

22
2
24
56
31

16
2
21
43
31

15
1
19
40
27

15
1
18
37
24

39
1
82
52
22

36
1
83
49
23

34
1
80
39
23

32
1
72
34
20

30

28

Arkansas....................................
California..................................
C olorado....................................

68
32
18

60
30
15

C onnecticut..............................
Delaw are...................................
District of C olu m bia.............
F lorid a.......................................
Georgia......................................

14
3
2
13
24

16
4
2
14
22

15
4
2
15
21

15
4
3
14
19

15
4
3
14
18

15
4
4
12
16

23
7
5
23
60

23
7
5
25
54

22
6
5
25
52

22
6
4
25
48

21
6
4
23
45

21
5
3
22
42

I d a h o .........................................
Illinois........................................
Indiana......................................
I o w a ...........................................
Kansas.......................................

12
122
48
50
44

13
132
54
49
52

13
127
47
44
50

11
119
47
44
44

11
116
48
38
41

10
110
42
37
39

9
73
216
78
116

11
72
216
84
139

11
61
203
78
137

11
48
187
74
125

10
44
178
69
119

10
40
163
66
111

K en tu cky..................................
Louisiana..................................
M a in e........................................
M aryland..................................
Massachusetts..........................

27
14
14
9
47

30
17
14
17
45

30
17
14
16
36

29
17
13
15
30

25
17
13
15
30

18
17
10
14
25

72
90
9
47
16

80
86
10
48
16

76
71
10
47
16

70
68
10
46
15

67
65
10
44
15

65
59
10
42
14

M ich igan...................................
M innesota.................................
M ississippi................................
M issouri....................................
M on tana...................................

66
90
14
48
26

80
95
15
48
24

79
72
15
44
21

76
67
15
41
19

77
63
15
39
19

74
59
15
37
14

99
134
131
137
27

96
135
127
155
25

85
127
122
145
24

80
123
121
130
21

73
119
119
122
19

70
108
114
114
19

N ebraska...................................
N eva d a ......................................
New Hampshire
...............
N ew Jersey...............................
N ew M ex ico.............................

44
3
7
110
8

49
3
8
160
8

49
2
6
154
8

45
2
4
149
8

42
2
4
146
8

38
2
5
143
8

92
1

94
1
1
44
10

83
1
1
43
9

74
1
1
42
9

70
1
1
40
8

63
1
1
33
8

S ta te
Alabam a....................................




41
8

CORPORATION

2,115

INSURANCE

2,279

DEPOSIT

2,055

FEDERAL

1935

1934

263
20
24
104
37

231
20
22
95
31

229
16
20
90
28

221
13
19
91
24

146
110
96
247

139
102
95
237
6

120
98
85
227
5

103
91
77
208
5

99
85
69
200
5

94
77
61
180
5

O regon................
Pennsylvania. . .
Rhode Isla n d .. .
South C arolina.
South D a k ota . .

22
185

20
207
3
6
33

18
201
3
5
26

10
186
3

10
185
3
5
26

180
3
3
24

29
30
1
25
86

29
67
1
27
81

28
68
1
28
73

24
65
1
27
65

24
63
1
26
53

21
61
1
22
51

Tennessee.
T e x a s. . . .
U ta h .........
Vermont. .
V irgin ia ...

23
147
19
9
35

29
157
19
9
38

26
152
18
9
33

26
144
17
8
30

25
134
17
8
31

22
124
17
8
28

226
20
33
91

89
209
18
33
91

86
192
16
33
90

84
174
16
32
86

81
167
15
30
82

78
147
15
27
74

34
34
61
11

23
33
57

17
31
54

15
29
50
7

50
42
308
10

50
44
311
10

52
46
288
9

46
43
272
9

43
40
256
9

40
37
247
8

1

1

1

1

W ashington. . .
West V irginia.
W isconsin........
W yom in g.........

36
30
45
11

Possession
Alaska..............
Virgin Islands.
MUTUAL SAVINGS BANKS
United States— to ta l..............

29

25

25

25

19

19

5
1
2
18
3

6
1
2
13
3

6
1
2
13
3

6
1
2
13
3

6
1
2
7
3

6
1
2
7
3

145




CORPORATION

1 Data obtained from reports of the Reconstruction Finance Corporation. Figures include some banks which have ceased operations, and for this and other reasons are not
strictly comparable with the figures for operating insured banks not members of the Federal Reserve System.
2 Data obtained from the records of the Federal Deposit Insurance Corporation.
3 Revised.

FINANCE

State
M a in e ..........
N ew Jersey.
O h io ..............
Verm ont. . . .
W isconsin.. .

RECONSTRUCTION

292
21
29
107
40

INVESTMENT

254
20
26
103
35

CAPITAL

New Y o r k .........
N orth Carolina.
N orth D akota. .
O h io ....................
Oklahom a..........

Table 124.

C A PITA L

INVESTM ENT

OF THE

RECONSTRUCTION FINANCE

CORPORATION

IN B A N K S

M EM BERS

OF THE

FEDERAL

R ESE RV E

S y s t e m , b y S t a t e , D e c e m b e r 31, 1934-19391

1939

1938

1937

1936

1935

1934

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




365,256

320,944

9,942
1,340
2,140
35,166
4,301

10,433
1,340
2,022
24,869
3,524

8,962
1,323
1,819
16,307
2,479

8,095
1,215
1,741
33,101
1,866

7,670
1,203
1,518
31,503
1,510

2,974
115
1,100
930
2,748

3,703
137
1,100
1,403
2,650

3,590
137
1,100
1,423
2,035

3,272
130
1,575
1,097
1,675

3,157
130
1,432
951
1,561

3,013
123
1,408
638
1,364

1,400
85,052
7,839
7,504
2,265

1,410
75,160
8,118
7,368
2,439

1,390
53,736
5,536
5,922
2,225

1,557
42,682
5,037
4,385
1,890

1,435
32,575
4,788
3,652
1,582

1,293
6,949
4,192
3,475
1,454

3,963
4,520
4,710
3,885
12,834

4,682
6,115
4,606
4,937
12,662

4,224
5,423
2,908
4,719
10,488

3,645
5,364
2,351
4,086
7,629

3,284
4,891
1,969
4,138
6,954

2,832
4,256
1,150
3,926
5,903

27,593
13,178
2,348
11,473
2,953

28,184
12,553
2,647
7,313
2,322

26,683
9,042
2,530
6,297
1,954

25,064
6,462
2,268
4,591
1,153

24,329
5,392
1,974
4,186
814

22,225
4,799
1,973
3,620
591

5,346
175
627
27,458
442

5,164
175
502
48,154
434

4,457
75
347
44,482
426

3,011
74
141
42,037
369

2,077
72
136
44,909
336

1,844
70
166
45,257
331

CORPORATION

Kansas

376,673

INSURANCE

..........................................................................
Delaware
District of Columbia
..................................................................
F lorida...................................................................................................
G e o r g ia ................................................................................................

450,973

10,811
1,140
2,060
35,236
4,098

S ta te

655,386

DEPOSIT

616,097

FEDERAL

(Amounts in thousands of dollars)

61,222
3,089
1,567
48,405
6,235

47,840
2,766
1,204
43,069
3,156

46,712
2,195
911
41,034
2,313

47,321
1,9 7
833
39,368
1,746

O regon.............
Pennsylvania. .
Rhode Island..
South Carolina
South D a k ota .

927
24,421
649
1,005
2,934

741
29,095
649
1,505
2,809

568
25,360
500
1,364
2,284

215
23,175
480
1,336
2,243

190
22,061
453
1,322
1,848

165
21,171
426
1,160
1,654

Tennessee........
T exa s................
U ta h .................
V erm ont...........
Virginia............

2,563
21,925
2,665
560
5,841

8,265
22,466
2,590
498
5,205

7,875
19,412
2,138
473
4,115

7,252
16,082
1,821
428
3,522

6,660
14,021
1,637
415
3,233

6,179
11,890
1,437
396
3,071

3,753
3,100
4,517
657

4,322
3,220
16,999
703

3,198
2,791
16,361
679

2,372
2,326
14,503
448

1,840
1,868
13,438
363

1,978
1,546
12,178
262

W ashington. . .
W est V irginia. ,
W isconsin........
W yo m in g.........

strictl^eomDarahlp(^ f h nfh'p^(cmri^ffnreR^P'C
r'nS^rU'^ i )^ Fin? nce p.orP°rati? n - . Figures include some banks which have ceased operations, and for this and other reasons are not
1
strictly comparable with the figures for R .F .C . capital investment m operating insured banks not members of the Federal Reserve System shown in Table 125.

FINANCE
C O R P O R A T IO N

147




R E C O N S T R U C T IO N

193,925
3,468
2,022
51,038
9,039

IN V E S T M E N T

185,896
3,305
2,188
52,455
9,959

C APITAL

New Y o r k . . . .
N orth Carolina
N orth D akota.
O h io ..................
Oklahoma........

T a b le 125.

C a p i t a l I n v e s t m e n t o f t h e R e c o n s t r u c t i o n F in a n c e C o r p o r a t i o n in O p e r a t i n g I n s u r e d
t h e F e d e r a l R e s e r v e S y s te m , 1934-1939, a n d C h a n g e s D u r i n g 1939

Banks

not

M em bers

of

00

BANKS GROUPED BY TYPE AND STATE
(Amounts in thousands of dollars)
Changes during 1939

R .F .C . capital outstanding December 31—

1938

Retire­
ments1

Other
deductions2

206,230

211,584

192,491

171,260

1,340
50
2,044
12,927
560

1,078
25
2,090
12,772
575

1,021
25
1,970
11,211
575

811
25
1,793
9,697
513

766

664

1,664
8,275
488

1,261
7,657
425

618
48

C onnecticut.................
D elaware......................
District of C olu m bia.
F lorid a..........................
Georgia.........................

3,469
375
1,800
596
1,798

3,410
223
1,500
588
1,675

2,904
209
1,445
546
1,618

2,806
187
768
528
1,459

2,545
187
708
467
1,332

2,413
86
465
396
1,125

132
101
15
96
207

228

Id a h o . . .
Illinois..
Indiana.
Io w a . . .
K ansas.

205
4,106
7,036
2,500
2,457

215
4,201
7,831
2,485
2,635

230
3,111
7,450
2,296
2,533

225
2,215
6,241
2,045
2,232

196
2,453
5,522
1,817
2,019

169
2,195
5,127
1,509
1,748

27
159
267
146
211

99
303
162
60

K en tu cky........
Louisiana.........
M aine...............
M aryland........
Massachusetts.

3,597
4,831
1,633
3,345
2,575

3,724
4,583
2,925
4,050
2,575

3,106
3,476
2,920
3,497
2,575

2,942
2,778
2,896
3,282
2,116

2,795
2,296
2,807
2,994
2,099

2,884
1,993
2,784
2,713
1,944

21
303
23
241
105

40
50

M ich igan. .
M innesota.

8,269
3,322
6,146
3,308
684

8,771
3,250
5,922
3,586
665

7,401
2,582
5,687
3,289
585

6,573
2,224
5,457
2,786
433

5,223
2,106
5,165
2,572
376

3,880
1,862
4,831
2,329
371

1,954
30

1,727
30
100
20,291
233

1,513
30
100
23,022
247

1,213
29
100
22,638
243

1,003
25
100
21,596
219

829
20
100
35,460
209

COMMERCIAL BANKS
U n ited S ta tes a n d p o ssession s— t o t a l .
S ta te
A la b a m a ..
Arizona. . .
A rkansas..
California.
C o lora d o..

M issouri.
Montana.
N ebraska.............
N evada.................
New H am pshire.
New Jersey.........
New M
FRASERex ico........

Digitized for


14,558
177

156,259

16,068

10,463

8,363

15

175

200

is’

15,153

1,233
179
298
191
5

110
65
386
66

156
5

350
14

19

239
10

' 1,050'

CORPORATION

1937

INSURANCE

1936

DEPOSIT

1935

FEDERAL

Disburse­
ments1

1939

1934

21,599
3,497
1,224
14,032
50

16,975
3,207
1,133
12,497
50

16,315
2,918
980
11,007
44

13,411
2,395
892
7,716
40

O regon................
Pennsylvania. . .
R hode Island.. .
South C arolina.
South D a k ota . .

957
11,479
250
1,141
1,256

954
14,959
250
687
980

931
14,954
250
712
882

841
14,361
249
673
761

806
14,173
245
647
600

747
13,874
243
536
558

59
199
2
111
42

3,307
6,975
775
7,060
4,271

3,142
6,563
500
7,210
4,392

4,002
5,734
470
7,110
4,103

3,913
4,853
455
6,885
3,530

3,826
4,457
418
6,676
3,023

3,665
3,644
359
6,058
2,480

101
495
59
618
344

W ashington. . .
West V irginia.
W isconsin........
W yom in g.........

1,213
1,971
13,338
585

1,156
2,136
13,338
590

1,068
2,166
11,860
549

693
1,897
10,377
532

631
1,833
9,957
525

664
1,684
9,213
511

149
684
14

Possession
Alaska..............
Virgin Islands.

38

Tennessee.
Texas. . . .
U ta h .........
Vermont. .
V irginia...

10

342
510
18
1,137
14

2,562
13
70
2,154

60
318
199
29
io o ’

120

123

MUTUAL SAVINGS BANKS
United States— to ta l...............................

12,260

13,585

12,535

12,458

12,966

12,807

159

1,365
300
3,200
7,025
370

1,440
600
3,200
8,025
320

1,440
600
2,200
8,025
270

1,366
600
2,198
8,024
270

1,325
600
1,696
9,100
245

1,287
600
1,660
9,044
216

38
56
29

Back figures— See the following Annual Reports: 1938, p. 182; 1937, p. 123; 1936, p. 163; 1935, p. 197.

149




CORPORATION

1 Excludes changes due to conversion of preferred stock loans to capital notes and debentures, preferred stock loans to preferred stock, and capital notes and debentures to
preferred stock.
2 Due to changes in charter jurisdiction, insurance status, etc.

FINANCE

State
M a in e..........
New Jersey.
O h io..............
Vermont. . . .
W iscon sin.. .

RECONSTRUCTION

26,850
3,742
1,549
18,753
60

INVESTMENT

31,305
3,651
1,569
19,397

CAPITAL

New Y o r k .........
N orth C arolina.
N orth D akota. .
O h io ....................
Oklahom a..........

EXAMINERS’ ANALYSIS OF INSURED COMMERCIAL BANKS
Table 126.

©

E X A M IN E R S ' A N A L Y SIS OF C A PITA L AND L IA B IL IT IE S OF IN SU RED COMM ERCIAL B A N K S E X A M IN E D IN

1939

BANKS GROUPED BY NET SOUND CAPITAL RATIO, FIXED AND SUBSTANDARD ASSETS RATIO, RATE OF AVERAGE NET EARNINGS,
AND AMOUNT OF DEPOSITS

Number
of
banks

Book value
R . F. C .1

Private

Net sound capital
Total
Total

Other
liabilities

9,697
10,126
<-630
348,121
4-13,428
352,417
2,415,235 29,888,870 29,337,366

429
4,296
551,504

2,278,532
678,898
250,169

172,950
42,760
15,419

2,105,582 16,554,384 16,345,058
636,138 3,397,165 3,375,596
871,402
890,398
234,750

209,326
21,569
18,996

S ,899
2,426
9,793

193,982
53,152
51,380

6,547
9,017
1,364

500,415
112,918
76,083

5,193
2,816
1,516

15,341
2,347,839
2,250,340

705
25,261
115,005

16,150
2,427,312
2,251,576

104
108,720
126,743

101,969
103,497
16,046
2,318,592 22,390,299 22,211,191
2,124,833 19,356,230 18,805,495

1,528
179,108
550,735

86,867
59,506
22,959

675,890
411,845
152,231

51,982
46,845
23,973

710,775
424,506
151,217

91,544
78,074
25,991

619,231
346,432
125,226

5,114,461
2,878,346
887,892

5,083,948
2,855,534
882,460

30,513
22,812
5,432

14,070
13,076
20,249

68,265
48,731
64,272

14,193
7,275
28,308

68,142
54,532
56,213

25,288
20,942
23,784

42,854
33,590
32,429

437,772
320,209
303,595

431,180
317,183
287,696

6,592
3,026
15,899

6,034,754

312,137

B an k s w ith n e t s o u n d ca p ita !
per $100 o f a p p ra ised va lu e o f
assets o f —
$0.00 or less
...............................................
$0.01 to $4.99 ...............................................
$5 00 to $9.99
.............................................

10
75
2,799

2,054
33,239
2,779,401

325
9,032
203,765

1,729
24,207
2,575,636

2,359
21,526
136,499

3-305
11,713
2,642,902

$10.00 to $14.99.............................................
!
$15.00 to $19.99....................................
$20.00 to $24.99 ........................................... !

5,958
2,900
1,119

2,384,884
719,159
266,075

150,939
41,415
15,402

2,233,945
677,744
250,673

106,352
40,261
15,906

$25.00 to $29.99.............................................
$80.00 to $34.99.............................................
$35.00 or more .............................................

378
145
121

190,583
55,578
41,587

6,547
9,017
1,364

184,036
46,561
40,223

B an ks w ith fixed a n d su b sta n d a rd
assets p er $100 o f a p p ra ised valu e
o f assets o f —
$0.00
.................................................
$0 01 to $4.99
...........................................
$5.00 to $ 9.99.................................................

40
3,878
4,288

15,445
2,452,573
2,366,581

104
104,734
116,241

$10 00 to $14.99 ..........................................
$15 00 to $19.99 ...........................................
$20 00 to $24.99
......................................

2,603
1,355
701

762,757
471,351
175,190

$25 00 to $29.99
........................................
$30.00 to $34 .99 .............................................
$35.00 or m ore................................................

308
172
160

82,335
61,807
84,521

.187,435
44,135
50,016

505,608
115,734
77,599

CORPORATION

325
25,141
227,667

437,806

INSURANCE

815,645

6,472,560




Deposits

Private

i
[In thousancIs of dollars)
6,160,423 j 501,190 5,659,233 51,792,301 50,976,656

13,505

A ll b a n k s ............................................................

R . F . C.i

DEPOSIT

Total

Examiners’
deductions
(net)2

FEDERAL

Adjusted liabilities (exclusive of
capital accounts)

Capital accounts

Banks with 3-year average net cur­
rent operating earnings per $100
of total assets of—
$-0.50 or m o re ................................................
$-0.01 to $ -0 .4 9 .............................................

17
90

3,308
15,419

596
1,326

2,712
14,093

267
2,915

3,041
12,504

596
1,546

$ 0.4 9 ...............................................
$ 0.9 9...............................................
$ 1 .4 9 .................................................
$ 1 .9 9 .................................................

1,100
4,113
4,614
2,253

587,632
3,581,557
1,520,503
603,338

42,879
223,230
131,743
28,949

544,753
3,358,327
1,388,760
574,389

34,034
169,588
88,317
23,541

553,598
3,411,969
1,432,186
579,797

60,272
249,624
150,193
29,876

$2.00 to $ 2 .4 9 .................................................
$2.50 to $ 2 .9 9 .........................................
$3.00 or m ore..................................................
N ot available.................................................

814
297
186
21

92,938
47,239
18,434
2,192

6,457
1,755
820
51

86,481
45,484
17,614
2,141

3,088
9,979
327
39

89,850
57,218
18,107
2,153

6,457
1,755
821
50

83,393
55,463
17,286
2,103

450,914
218,379
66,776
13,958

446,426
209,905
63,802
13,933

4,488
8,474
2,974
25

Banks with deposits of—
$100,000 or less......................................
$100,000 to $250,000............................
$250,000 to $500,000............................

488
2,486
3,118

13,464
98,714
199,326

1,562
10,364
19,153

11,902
88,350
180,173

1,039
5,227
9,564

12,425
93,487
189,762

1,562
10,412
19,437

10,863
83,075
170,325

36,210
440,632
1,137,176

35,699
438,308
1,132,048

511
2,324
5,128

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

2,937
2,064
1,425

340,979
450,070
643,663

30,581
43,654
59,060

310,398
406,416
584,603

18,158
30,182
42,272

322,821
419,888
601,391

31,019
45,305
63,809

291,802
374,583
537,582

2,109,921
2,928,346
4,355,618

2,100,606
2,913,920
4,333,556

9,315
14,426
22,062

487
383
117

468,084
954,887
3,303,373

51,937
102,436
119,059

416,147
852,451
3,184,314

25,067
52,000
128,628

443,017
902,887
3,174,745

53,800
140,874
134,972

389,217 3,401,180 3,379,020
762,013 7,949,632 7,879,749
3,039,773 29,433,586 28,763,750

22,160
69,883
669,836

$0.00
$0.50
$1.00
$1.50

to
to
to
to

7,248
89,163

7,034
87,978

214
1,185

493,326 5,689,516 5,639,887
3,162,345 31,726,051 31,086,848
1,281,993 10,501,108 10,411,927
549,921 3,029,188 3,008,916

49,629
639,203
89,181
20,272

EXAMINERS'
ANALYSIS

$5,000,000 to $10,000,000............................
$10,000,000 to $50,000,000.........................
M ore than $50,000,000................................

2,445
10,958

O
F

N OTE:

For explanation of terms, method of adjustment, and banks included, see pages 74-76.

Back figures

INSURED

I § ° ok vaJue. is normally the same as par value, but may be less. Retirable value, which may exceed par value, is used in computing net sound private capital,
figu res in italics represent examiners’ net additions. Examiners’ net deductions from total capital accounts exceed examiners’ net deductions from total assets by the
amount of liabilities not shown on the books.
3 Adjusted liabilities exceed the appraised value of assets.
4 Adjusted liabilities plus the retirable value of R . F. C. capital exceed the appraised value of assets.
For 1938 figures of banks grouped by amount of deposits, prepared on the basis of the original examination procedure, see the Annual Report for 1938, p. 184.

BANKS




12
5

Table 127.

N

et

S o u n d C a p it a l R a t io s

of

I n s u r e d C o m m e r c ia l B a n k s E x a m in e d

in

1939

BAN KS GROUPED B Y NET SOUND CAPITAL RATIO, FIXED AND SUBSTANDARD ASSETS RATIO, RATE OF AVERAGE NET EARNINGS,
AND AMOUNT OF DEPOSITS

N um ber
of
banks

Book value
R . F. C.i

Private

Net sound capital
Total

R . F . C.i

Private

Appraised
value
of assets

Deposits

$100.00

$ 6.76

$ 93.24

$ 4.82

$ 95.18

$ 7.74

$ 87.44

$ 10.63

$ 12.08

10
75
2,799

100.00
100.00
100.00

15.82
27.17
7.33

84.18
72.83
92.67

114.85
64.76
4.91

s-14.85
35.24
95.09

15.82
75.64
8.19

4-30.67
4-40.40
86.90

3-3.11
3.22
8.12

3-3.15
3.36
9.01

$10.00 to $14.99.............................................
$15.00 to $19.99.............................................
$20.00 to $24.99.............................................

5,958
2,900
1,119

100.00
100.00
100.00

6.33
5.76
5.79

93.67
94.24
94.21

4.46
5.60
5.98

95.54
94.40
94.02

7.25
5.95
5.79

88.29
88.45
88.23

12.10
16.66
21.93

13.94
20.11
28.71

$25.00 to $29.99.............................................
$30.00 to $34.99.............................................
$35.00 or m o re ................................................

378
145
121

100.00
100.00
100.00

3.44
516.22
3.28

96.56
583.78
96.72

1.78
4.37
6
23.55

101.78
95.63
123.55

3.44
516.22
3.28

98.34
579.41
120.27

27.73
31.47
39.84

38.76
47.07
67.53

Banks with fixed and substandard
assets per $100 of appraised value
of assets of—
$0.00..................................................................
$0.01 to $ 4.9 9 .................................................
$5.00 to $ 9.9 9 .................................................

40
3,878
4,288

100.00
100.00
100.00

.67
4.27
4.91

99.33
95.73
95.09

U.56
1.03
4.86

104.56
98.97
95.14

.67
4.43
5.36

103.89
94.54
89.78

13.50
9.78
10.42

15.84
10.93
11.97

$10.00 to $14.99.............................................
$15.00 to $19.99.............................................
$20.00 to $24.99.............................................

2,603
1,355
701

100.00
100.00
100.00

11.39
12.62
13.11

88.61
87.38
86.89

6.81
9.94
13.68

93.19
90.06
86.32

12.00
16.56
14.84

81.19
73.50
71.48

12.20
12.85
14.55

13.98
14.87
17.14

$25.00 to $29.99.............................................
$30.00 to $34.99.............................................
$35.00 or m ore................................................

308
172
160

100.00
100.00
100.00

17.09
21.16
23.96

82.91
78.84
76.04

17.24
611.77
33.49

82.76
88.23
66.51

30.71
33.88
28.14

52.05
54.35
38.37

13.47
14.55
15.62

15.80
17.19
19.54




CORPORATION

13,505

Banks with net sound capital
per $100 of appraised value of
assets of—
$0.00 or less.....................................................
$0.01 to $ 4.9 9 .................................................
$5.00 to $ 9.9 9 .................................................

INSURANCE

All b a n k s.............................................................

DEPOSIT

Total

Examiners’
deductions
(net)2

FEDERAL

Net sound capital
per $100 of—

Per $100 of capital accounts (book value)

Banks with 3-year average net cur­
rent operating earnings per $100
of total assets of—
$-0.50 or more......................................
$-0.01 to $ -0 .4 9 ...................................

18.02
8.60

81.98
91.40

8.07
18.91

91.93
81.09

18.02
10.03

73.91
71.06

29.56
12.30

43.23
14.21

$0.49.......................................
$0.99.......................................
$1.49.......................................
$1.99.......................................

1,100
4,113
4,614
2,253

100.00
100.00
100.00
100.00

7.30
6.23
8.66
4.80

92.70
93.77
91.34
95.20

5.79
4.74
5.81
3.90

94.21
95.26
94.19
96.10

10.26
6.97
9.88
4.95

83.95
88.29
84.31
91.15

8.87
9.71
12.00
16.07

9.82
10.98
13.76
19.27

$2.00 to $2.49.......................................
$2.50 to $2.99.......................................
$3.00 or more........................................
Not available........................................

814
297
186
21

100.00
100.00
100.00
100.00

6.95
3.72
4.45
2.33

93.05
96.28
95.55
97.67

3.32
s21.12
1.77
1.78

96.68
121.12
98.23
98.22

6.95
3.72
4.45
2.28

89.73
117.40
93.78
95.94

16.62
20.76
21.33
13.36

20.13
27.26
28.38
15.45

Banks with deposits of—
$100,000 or less....................................
$100,000 to $250,000..........................
$250,000 to $500,000..........................

488
2,486
3,118

100.00
100.00
100.00

11.60
10.50
9.61

88.40
89.50
90.39

7.72
5.30
4.80

92.28
94.70
95.20

11.60
10.55
9.75

80.68
84.15
85.45

25.55
17.50
14.30

34.81
21.33
16.76

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

2,937
2,064
1,425

100.00
100.00
100.00

8.97
9.70
9.18

91.03
90.30
90.82

5.33
6.71
6.57

94.67
93.29
93.43

9.10
10.07
9.91

85.57
83.22
83.52

13.27
12.54
12.13

15.37
14.41
13.88

$5,000,000 to $10,000,000.................
$10,000,000 to $50,000,000...............
More than $50,000,000......................

487
383
117

100.00
100.00
100.00

11.10
10.73
3.60

88.90
89.27
96.40

5.36
5.45
3.89

94.64
94.55
96.11

11.49
14.75
4.09

83.15
79.80
92.02

11.52
10.20
9.74

13.11
11.46
11.04

$0.00
$0.50
$1.00
$1.50

to
to
to
to

N OTE:

INSURED

1 B ook value is normally the same as par value, but may be less. Retirable value, which may exceed par value, is used in computing net sound private capital.
2 Figures in italics represent examiners’ net additions. Examiners’ net deductions from total capital accounts exceed examiners’ net deductions from total assets by the
amount of liabilities not shown on the books.
3 A djusted liabilities exceed the appraised value of assets.
* A djusted liabilities plus the retirable value of R . F. C. capital exceed the appraised value of assets.
6 For explanation of the apparent irregularity in this item, see page 76.

O
F

100.00
100.00

EXAMINERS’ ANALYSIS

17
90

For explanation of terms, method of adjustment, and banks included, see pages 74-76.

153




BANKS

Back figures— For 1938 figures of banks grouped by amount of deposits, prepared on the basis of the original examination procedure, see the Annual Report for 1938, p. 186.

Table 128.

EXAMINERS* A

n a l y s is

OF CAPITAL AND LIABILITIES OF INSURED COMMERCIAL BANKS EXAMINED IN

1939

BANKS GROUPED BY FDIC DISTRICT AND STATE
(Amounts in thousands of dollars)
Adjusted liabilities (exclusive of
capital accounts)

Capital accounts
N et sound capital

Book value
T otal

R . F. C.i

Private

Examiners’
deductions
(net)2

Total
Total

R . F . C.i

Deposits

Other
liabilities

Private

437,806

6,034,754

312,137

6,160,423

501,190

5,659,233

51,792,301

50,976,656

815,645

498
1,130
1,736
1,007

441,599
2,240,136
1,140,457
304,038

25,525
89,103
79,782
22,828

416,074
2,151,033
1,060,675
281,210

27,197
151,963
67,993
10,325

414,402
2,088,173
1,072,464
293,713

26,299
129,193
86,476
23,035

388,103
1,958,980
985,988
270,678

2,932,941
17,806,993
6,854,029
2,267,045

2,874,525
17,265,100
6,798,528
2,251,518

58,416
541,893
55,501
15,527

District
District
District
District

5 ................................
6 ..................................
7 ..............................
8 ..................................

969
1,460
1,464
1,420

228,623
295,643
347,673
481,281

23,551
23,736
58,886
40,035

205,072
271,907
288,787
441,246

5,988
8,715
8,083
3,819

234,606
286,928
339,590
477,462

25,115
24,501
59,024
40,035

209,491
262,427
280,566
437,427

1,847,584
2,618,847
3,209,826
5,108,755

1,836,732
2,604,640
3,191,636
5,085,212

10,852
14,207
18,190
23,543

District
District
District
District

9 ..................................
1 0 ................................
1 1 ................................
1 2 ................................

1,087
1,402
828
504

134,539
181,939
189,917
486,715

11,051
11,174
17,376
34,759

123,488
170,765
172,541
451,956

3,758
3,531
3,480
29,256

130,781
178,408
186,437
457,459

11,458
11,267
18,033
46,754

119,323
167,141
168,404
410,705

1,171,026
1,515,313
1,611,951
4,847,991

1,162,084
1,509,223
1,605,132
4,792,326

8,942
6,090
6,819
55,665

State
Alabam a....................................
Arizona ..................................
Arkansas ................................
California ..............................
C olorado....................................

208
11
206
194
138

48,388
7,475
23,582
380,815
34,401

6,325
1,209
2,654
27,817
2,125

42,063
6,266
20,928
352,998
32,276

1,160
98
816
27,837
483

47,228
7,377
22,766
352,978
33,918

7,890
1,209
2,683
39,813
2,125

39,338
6,168
20,083
313,165
31,793

298,995
90,701
165,100
3,811,351
329,338

297,237
89,714
164,499
3,762,753
327,396

1,758
987
601
48,598
1,942

C onnecticut..............................
Delaware...................................
District of C olum bia.............
F lorid a .......................................
G eorgia......................................

101
41
22
160
266

75,182
23,924
47,147
41,514
62,980

5,553
313
1,836
1,148
2,649

69,629
23,611
45,311
40,366
60,331

4,714
1,639
1,024
1,007
9,238

70,468
22,285
46,123
40,507
72,213

5,591
313
1,836
1,148
2,649

64,877
21,972
44,287
39,359
69,564

504,003
97,392
345,245
397,204
442,426

500,542
96,892
342,727
396,145
438,871

3,461
500
2,518
1,059
3,555

Idaho
..................................
Illinois........................................
Indiana......................................
Iowa .........................................
K ansas.......................................

46
837
473
583
456

9,491
415,810
101,841
65,471
44,803

1,576
34,745
9,505
5,290
3,261

7,915
381,065
92,336
60,181
41,542

20
3,431
4,535
388
1,095

9,511
412,379
97,306
65,083
43,708

1,576
34,746
9,506
5,290
3,354

7,935
377,633
87,800
59,793
40,354

88,010
4,480,391
852,139
628,364
348,346

87,821
4,458,514
848,846
626,698
347,413

189
21,877
3,293
1,666
933




CORPORATION

6,472,560

INSURANCE

13,505

FDIC District
District 1 ..................................
District 2 ..................................
District 3 ..................................
District 4 ..................................

DEPOSIT

United States— to ta l..............

FEDERAL

Number
of
banks

2,343
434
4,079
2,431
13,046

61,006
49,519
27,268
64,618
260,088

5,114
6,600
3,843
7,142
8,716

55,892
42,919
23,425
57,476
251,372

440,547
518,817
190,183
622,797
1,922,429

438,349
515,195
189,310
620,362
1,870,484

2,198
3,622
873
2,435
51,945

M ichigan...................................
M innesota.................................
M ississippi................................
M issouri....................................
M ontana....................................

430
651
193
591
112

136,078
96,187
25,787
143,109
15,691

27,280
6,107
6,828
6,511
999

108,798
90,080
18,959
136,598
14,692

1,183
1,684
648
2,943
432

137,261
94,503
25,139
140,166
15,259

27,416
6,499
6,829
6,510
1,015

109,845
88,004
18,310
133,656
14,244

1,454,068
873,151
190,144
1,494,718
141,303

1,443,238
865,350
189,285
1,486,781
140,886

10,830
7,801
859
7,937
417

N ebraska...................................
N eva d a ......................................
New H am pshire......................
New Jersey...............................
New M ex ico.............................

367
10
56
354
40

37,853
3,123
16,166
210,821
5,487

2,787
90
481
39,791
547

35,066
3,033
15,685
171,030
4,940

814
87
1,127
30,126
152

37,039
3,036
15,039
180,695
5,335

2,786
90
491
66,425
547

34,253
2,946
14,548
114,270
4,788

309,437
39,026
81,142
1,680,974
58,991

308,251
38,757
80,463
1,668,858
58,900

1,186
269
679
12,116
91

New Y o r k .................................
North Carolina........................
North D a k o ta ..........................
O h io ............................................
Oklahom a..................................

735
211
158
687
383

2,005,391
38,831
10,238
294,489
56,611

48,999
3,035
1,789
47,377
2,222

1,956,392
35,796
8,449
247,112
54,389

120,199
559
1,038
9,576
1,024

1,885,192
38,272
9,200
284,913
55,587

62,454
3,034
1,788
51,417
2,222

1,822,738
35,238
7,412
233,496
53,365

16,028,626
276,150
67,906
2,304,993
464,037

15,499,348
272,603
67,610
2,285,628
462,156

529,278
3,547
296
19,365
1,881

O regon.......................................
Pennsylvania............................
R hode Island............................
South Carolina........................
South D a k o ta ..........................

71
1,049
15
111
166

26,323
845,967
20,880
15,644
12,424

949
32,404
678
1,811
2,157

25,374
813,563
20,202
13,833
10,267

551
58,416
750
261
605

25,772
787,551
20,130
15,383
11,819

949
35,059
678
1,824
2,156

24,823
752,492
19,452
13,559
9,663

297,886
4,549,036
126,784
137,224
88,668

294,995
4,512,900
125,699
136,793
88,239

2,891
36,136
1,085
431
429

Tennessee..................................
T exa s..........................................
U ta h ...........................................
V erm ont....................................
Virginia......................................

292
777
51
74
314

65,603
176,955
18,381
24,890
86,153

9,627
15,620
1,817
6,891
5,673

55,976
161,335
16,564
17,999
80,480

2,612
3,229
19
3,481
2,932

62,991
173,726
18,400
21,409
83,221

10,193
16,277
1,817
6,979
5,673

52,798
157,449
16,583
14,430
77,548

518,481
1,462,257
147,101
108,401
597,513

515,011
1,456,518
146,471
108,028
592,032

3,470
5,739
630
373
5,481

W ashington..............................
W est V irginia...........................
W isconsin..................................
W yom in g...................................

132
174
561
58

48,581
49,215
109,754
8,272

2,509
3,527
22,102
780

46,072
45,688
87,652
7,492

819
3,119
4,732
116

47,762
46,096
105,022
8,156

2,510
3,526
22,102
780

45,252
42,570
82,920
7,376

464,617
288,116
903,621
64,152

461,529
287,001
899,551
64,007 l
f
t

3,088
1,115
4,070
145

1 B ook value is normally the same as par value, but may be less. Retirable value, which may exceed par value, is used in computing net sound private capital.
2 Figures in italics represent examiners’ net additions. Examiners’ net deductions from total capital accounts exceed examiners’ net deductions from total assets by the
amount of liabilities not shown on the books.
N O TE :

BANKS

58,405
43,354
27,504
60,102
265,055

INSURED

4,944
6,599
3,843
6,947
8,079

O
F

63,349
49,953
31,347
67,049
273,134

ANALYSIS

371
142
60
175
192

EXAMINERS*

K en tu cky..................................
Louisiana..................................
M a in e.........................................
M aryland..................................
Massachusetts..........................

For explanation of terms, method of adjustment, and banks included, see pages 74-76.

Back figures

For 1938 figures of banks grouped by State, prepared on the basis of the original examination procedure, see the Annual Report for 1938, p. 184.




Cn
Cn

N

et

S o u n d C a p it a l R a t io s

of

I n s u r e d C o m m e r c ia l B a n k s E x a m in e d

in

16
5

Table 129.

1939

BANKS GROUPED BY FDIC DISTRICT AND STATE
Net sound capital
per $100 of—

Per $100 of capital accounts (book value)
Net sound capital

Book value
Total

R . F. C .1

Private

Examiners’
deductions
(net)2

Total

R . F. C.i

Private

Appraised
value of
assets

Deposits

$6.76

$93.24

$4.82

$95.18

$7.74

$87.44

$10.63

$12.08

498
1,130
1,736
1,007

100.00
100.00
100.00
100.00

5.78
3.98
7.00
7.51

94.22
96.02
93.00
82.49

6.16
6.78
5.96
3.40

93.84
93.22
94.04
96.60

5.96
5.77
7.58
7.58

87.88
87.45
86.46
89.02

12.38
10.50
13.53
11.47

14.42
12.09
15.77
13.05

District
District
District
District

5 .........................................
6 .........................................
7 .........................................
8 .........................................

969
1,460
1,464
1,420

100.00
100.00
100.00
100.00

10.30
8.03
16.94
8.32

89.70
91.97
83.06
91.68

2.62
2.95
2.32
.79

102.62
97.05
97.68
99.21

10.99
8.29
16.98
8.32

91.63
88.76
80.70
90.89

11.27
9.87
9.57
8.55

12.77
11.02
10.64
9.39

District
District
District
District

9 .........................................
1 0 .......................................
1 1 .......................................
1 2 ......................................

1,087
1,402
828
504

100.00
100.00
100.00
100.00

8.21
6.14
9.15
7.14

91.79
93.86
90.85
92.86

2.79
1.94
1.83
6.01

97.21
98.06
98.17
93.99

8.52
6.19
9.50
9.61

88.69
91.87
88.67
84.38

10.05
10.53
10.37
8.62

11.25
11.82
11.62
9.55

S ta te
A labam a..........................................
A rizona.............................................
Arkansas..........................................
California........................................
C olorado..........................................

208
11
206
194
138

100.00
100.00
100.00
100.00
100.00

13.07
16.17
11.25
7.30
6.18

86.93
83.83
88.75
92.70
93.82

2.40
1.31
3.46
7.31
1.40

97.60
98.69
96.54
92.69
98.60

16.31
16.17
11.38
10.45
6.18

81.29
82.52
85.16
82.24
92.42

13.64
7.52
12.12
8.48
9.34

15.89
8.22
13.84
9.38
10.36

C onnecticu t....................................
D elaw are.........................................
District of C olum bia....................
F lorid a.............................................
Georgia............................................

101
41
22
160
266

100.00
100.00
100.00
100.00
100.00

7.39
1.31
3.89
2.77
4.21

92.61
98.69
96.11
97.23
95.79

6.27
6.85
2.17
2.43
1U.66

93.73
93.15
97.83
97.57
114.66

7.44
1.31
3.89
2.77
4.21

86.29
91.84
93.94
94.80
110.45

12.27
18.62
11.79
9.25
14.03

14.08
23.00
13.46
10.23
16.45

Id a h o ................................................
Illinois..............................................
Indiana............................................
I o w a .................................................
K ansas.............................................

46
837
473
583
456

100.00
100.00
100.00
100.00
100.00

16.61
8.36
9.33
8.08
7.28

83.39
91.64
90.67
91.92
92.72

.21
.83
4.45
.59
2.44

100.21
99.17
95.55
99.41
97.56

16.61
8.36
9.33
8.08
7.49

83.60
90.81
86.22
91.33
90.07

9.75
8.43
10.25
9.39
11.15

10.83
9.25
11.46
10.39
12.58




CORPORATION

$100.00

INSURANCE

13,505

F D IC D is tr ic t
District 1 .........................................
District 2 .........................................
District 3 .........................................
District 4 .........................................

DEPOSIT

U n ited S ta te s — t o t a l .....................

FEDERAL

Number
of
banks

3.70
.87
13.01
3.63
4.78

96.30
99.13
86.99
96.37
95.22

8.07
13.21
12.26
10.65
3.19

88.23
85.92
74.73
85.72
92.03

12.16
8.71
12.54
9.40
11.92

13.92
9.61
14.40
10.42
13.90

M ich igan.........................................
M innesota.......................................
M ississippi.......................................
M issouri...........................................
M ontana..........................................

430
651
193
591
112

100.00
100.00
100.00
100.00
100.00

20.05
6.35
26.48
4.55
6.37

79.95
93.65
73.52
95.45
93.63

.87
1.75
2.51
2.06
2.75

100.87
98.25
97.49
97.94
97.25

20.15
6.76
26.48
4.55
6.47

80.72
91.49
71.01
93.39
90.78

8.63
9.77
11.68
8.57
9.75

9.51
10.92
13.28
9.43
10.83

N ebraska.........................................
N evad a.............................................
New H am pshire............................
N ew Jersey.....................................
N ew M ex ico....................................

367
10
56
354
40

100.00
100.00
100.00
100.00
100.00

7.36
2.88
2.98
18.87
9.97

92.64
97.12
97.02
81.13
90.03

2.15
2.79
6.97
14.29
2.77

97.85
97.21
93.03
85.71
97.23

7.36
2.88
3.04
31.51
9.97

90.49
94.33
89.99
54.20
87.26

10.69
7.22
15.64
9.71
8.29

12.02
7.83
18.69
10.83
9.06

N ew Y o r k .......................................
N orth C arolina..............................
N orth D a k o ta ................................
O h io ..................................................
Oklahom a........................................

735
211
158
687
383

100.00
100.00
100.00
100.00
100.00

2.44
7.82
17.47
16.09
3.93

97.56
92.18
82.53
83.91
96.07

5.99
1.44
10.14
3.25
1.81

94.01
98.56
89.86
96.75
98.19

3.11
7.81
17.46
17.46
3.93

90.90
90.75
72.40
79.29
94.26

10.52
12.17
11.93
11.00
10.70

12.16
14.04
13.61
12.47
12.03

O regon.............................................
P ennsylvania..................................
Rhode Island..................................
South C arolina..............................
South D a k o ta ................................

71
1,049
15
111
166

100.00
100.00
100.00
100.00
100.00

3.61
3.83
3.25
11.58
17.36

96.39
96.17
96.75
88.42
82.64

2.09
6.91
3.59
1.67
4.87

97.91
93.09
96.41
98.33
95.13

3.61
4.14
3.25
11.66
17.35

94.30
88.95
93.16
86.67
77.78

7.96
14.76
13.70
10.08
11.76

8.74
17.45
16.01
11.25
13.39

Tennessee........................................
T e x a s................................................
U ta h .................................................
V erm ont...........................................
V irginia............................................

292
777
51
74
314

100.00
100.00
100.00
100.00
100.00

14.67
8.83
9.89
27.69
6.58

85.33
91.17
90.11
72.31
93.42

3.98
1.82
.10
13.99
3.40

96.02
98.18
100.10
86.01
96.60

15.54
9.20
9.89
28.04
6.58

80.48
88.98
90.21
57.97
90.02

10.83
10.62
11.12
16.49
12.23

12.23
11.93
12.56
19.82
14.06

W ashington....................................
W est V irginia.................................
W isconsin........................................
W y o m in g .........................................

132
174
561
58

100.00
100.00
100.00
100.00

5.16
7.17
20.14
9.43

94.84
92.83
79.86
90.57

1.69
6.34
4.31
1.40

98.31
93.66
95.69
98.60

5.17
7.16
20.14
9.43

93.14
86.50
75.55
89.17

9.32
13.79
10.41
11.28

10.35
16.06
11.67
12.74

1 B ook value is normally the same as par value, but may be less. Retirable value, which may exceed par value, is used in computing net sound private capital.
2 Figures in italics represent examiners’ net additions. Examiners’ net deductions from total capital accounts exceed examiners’ net deductions from total assets by the
am ount of liabilities not shown on the books.
NOTE:

banks

92.20
86.79
87.74
89.64
97.04

in su red

7.80
13.21
12.26
10.36
2.96

o
f

100.00
100.00
100.00
100.00
100.00

a n a l y s is

371
142
60
175
192

e x a m in e r s ’

L ouisiana.........................................
M a in e...............................................
M aryland.........................................
M assachusetts................................

For explanation of terms, method of adjustment, and banks included, see pages 74-76.

Back figures— For 1938 figures of banks grouped by State, prepared on the basis of the original examination procedure, see the Annual Report for 1938, p. 186.




Cn
<3

T a b l e 130.

EXAMINERS* CLASSIFICATION OF ASSETS OF INSURED COMMERCIAL BANKS EXAMINED IN 1939

BANKS GROUPED B Y NET SOUND CAPITAL RATIO, FIXED AND SUBSTANDARD ASSETS RATIO, RATE OF AVERAGE NET EARNINGS,
AND AMOUNT OF DEPOSITS
Securities

Total assets
Cash and
due from
banks

Appraised value
Book
value

deductions
(net)1

Total

Not
criticized

Examiners’
deductions
(net)1

Total

Sub­
standard

N ot
criticized

301,701 57,952,724

(In th ousands of d ollars)
2,970,071 54,982,653 18,643,164 21,315,369

81,196 21,234,173

1,206,905 20,027,268

B an k s w ith n e t s o u n d
c a p ita l p er $100 o f
a p p ra ised
va lu e
of
assets o f —
$0.00 or less..............................
$0.01 to $4.99..........................
$5.00 to $9.99..........................

12,160
10
385,357
75
2,799 32,665,921

9,821
2,339
364,130
21,227
134,149 32,531,772

3,777
6,322
1,628
3,499
125,483
92,708
298,381
65,749
1,253,335 31,278,437 10,968,988 12,240,129

577
3,200
3,603
121,880
30,713 12,209,416

1,802
1,398
108,629
13,251
490,037 11,719,379

$10.00 to $14.99......................
$15.00 to $19.99.....................
$20.00 to $24.99......................

5,958 18,935,590
2,900 4,115,956
1,119 1,152,850

102,674 18,832,916
39,893 4,076,063
12,283 1,140,567

1,048,487 17,784,429
349,380 3,726,683
124,147 1,016,420

5,968,720
1,084,988
295,424

6,562,696
1,589,572
402,226

35,818
19,758
3,754

6,526,878
1,569,814
398,472

435,072
155,772
47,375

6,091,806
1,414,042
353,097

630,747
137,424
103,810

166,519
35,435
28,754

300,585
55,374
35,527

3,137
440
10,330

303,722
54,934
45,857

40,513
5,558
17,929

263,209
49,376
27,928

119,647
377,338 24,440,273
1,056,519 20,551,287

44,192
9,283,503
6,722,198

44,794
9,139,253
7,891,640

585
5,568
30,427

45,379
9,133,685
7,861,213

162,428
493,944

45,379
8,971,257
7,367,269

$25.00 to $29.99......................
$30.00 to $34.99 .....................
$35.00 or m ore........................

378
145
121

696,173
171,262
119,156

3,417
2,376
9,823

699,590
168,886
128,979

68,843
31,462
25,169

B an k s w ith fixed a n d
su b sta n d a rd assets p er
$100 o f a p p ra ised va lu e
o f assets o f —
$0 00
$0.01 to $ 4 .9 9 ..........................
$5.00 to $ 9.9 9 ..........................

118,923
40
3,878 24,839,783
4,288 21,720,827

$10.00 to $14.99......................
$15.00 to $19.99......................
$20.00 to $24.99......................

2,603
1,355
701

5,876,792
3,349,202
1,062,483

51,556
46,350
23,374

5,825,236
3,302,852
1,039,109

525,899
465,419
189,822

5,299,337
2,837,433
849,287

1,433,272
719,036
216,544

2,127,008
1,313,041
395,452

17,677
15,927
9,267

2,109,331
1,297,114
386,185

184,140
177,016
81,079

1,925,191
1,120,098
305,106

$25.00 to $29.99......................
$30.00 to $34.99......................
$35.00 or m ore ........................

308
172
160

518,885
381,816
385,714

12,971
7,075
25,906

505,914
374,741
359,808

114,290
109,338
131,446

391,624
265,403
228,362

97,912
72,922
53,585

172,007
117,269
114,905

3,307
6,719
6,327

168,700
123,988
108,578

36,456
38,964
32,878

132,244
85,024
75,700




119,647
721f.
22,172 24,817,611
113,021 21,607,806

CORPORATION

13,505 58,254,425

INSURANCE

A ll b a n k s .....................................

DEPOSIT

Sub­
standard

Appraised value
Book
value

FEDERAL

Num ber
of
banks

Banks with 3-year aver­
age net current oper­
ating earnings per $100
of total assets of—
$-0.50 or m ore........................
$-0.01 to $ -0 .4 9 .....................
to
to
to
to

$ 0 .4 9 ..........................
$ 0 .9 9 ..........................
$ 1.4 9 ..........................
$ 1.9 9 ..........................

10,555
104,541

1,100 6,274,821
4,113 35,302,479
4,614 12,019,331
2,253 3,632,194

266
2,874

10,289
101,667

31,707 6,243,114
164,459 35,138,020
86,037 11,933,294
23,209 3,608,985

2,293
8,035

7,996
93,632

2,239
31,726

2,762
36,078

241,056 6,002,058 2,431,415 2,111,183
1,451,373 33,686,647 11,833,790 13,183,557
893,572 11,039,722 3,159,086 4,386,731
963,617 1,387,144
299,516 3,309,469

69
712

2,693
35,366

6,832 2,104,351
44,317 13,139,240
27,361 4,359,370
11,526 1,375,618

522
2,574

2,171
32,792

92,850 2,011,501
565,249 12,573,991
349,720 4,009,650
162,652 1,212,966

814
297
186
21

543,654
265,525
85,181
16,144

2,890
10,072
298
33

540,764
275,597
84,883
16,111

41,841
26,135
5,560
690

498,923
249,462
79,323
15,421

134,038
61,667
18,994
6,592

141,760
49,694
11,837
4,623

856
10,1*77
2
2

140,904
60,171
11,839
4,621

14,998
16,880
1,409
51

125,906
43,291
10,430
4,570

Banks with deposits o f —
$100,000 or less...................
$100,000 to $250,000.............
$250,000 to $500,000.............

488
2,486
3,118

49,619
539,213
1,336,270

984
5,094
9,332

48,635
534,119
1,326,938

5,736
47,525
99,661

42,899
486,594
1,227,277

13,949
147,459
360,025

7,678
125,889
367,531

51
789
3,267

7,627
125,100
364,264

847
13,576
34,901

6,780
111,524
329,363

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

2,937
2,064
1,425

2,450,549
3,378,142
4,998,794

17,807
29,908
41,785

2,432,742
3,348,234
4,957,009

176,619
255,082
367,313

2,256,123
3,093,152
4,589,696

646,662
884,036
1,323,901

771,666
1,168,735
1,858,054

8,286
12,749
18,447

763,380
1,155,986
1,839,607

72,649
100,978
148,937

690,731
1,055,008
1,690,670

23,726 3,844,197
49,032 8,852,519
124,033 32,608,331

256,399 3,587,798 1,068,534 1,443,714
506,152 8,346,367 2,774,556 3,208,599
1,255,584 31,352,747 11,424,042 12,363,503

8,902 1,434,812
2,009 3,206,590
26,696 12,336,807

98,144 1,336,668
171,770 3,034,820
565,103 11,771,704

insured
banks




487 3,867,923
383 8,901,551
117 32,732,364

o
f

$5,000,000 to $10,000,000. . .
$10,000,000 to $50,000,000. .
M ore than $50,000,000.........

a n a l y s is

$2.00 to $ 2.4 9 ..........................
$2.50 to $ 2.9 9 ..........................
$3.00 or m ore ..........................
N ot available...........................

EXAMINERS'

$0.00
$0.50
$1.00
$1.50

17
90

CD

E x a m i n e r s ’ CLASSIFICATION OF ASSETS OF INSURED COMMERCIAL BANKS EXAMINED IN

10
6

Table 130.

1939— C ontinued

BAN KS GROUPED B Y N ET SOUND CAPITAL RATIO, FIXED AND SUBSTANDARD ASSETS RATIO , RATE OF AVERAGE NET EARNINGS,
AND AMOUNT OF DEPOSITS
Loans, discounts, and overdrafts
Appraised value
B ook
value

Examiners’
deductions
(net)1

Total

Sub­
standard

Appraised value
N ot
criticized

157,669

15,898,191

1,228,664

B an k s w ith n e t s o u n d
ca p ita l p er $100 o f
a p p ra is ed
va lu e
of
a ssets o f —
$0.00 or less..............................
$0.01 to $ 4.9 9 ..........................
$5.00 to $ 9 .9 9 ..........................

10
75
2,799

4,507
119,105
8,366,927

990
8,164
73,215

3,517
110,941
8,293,712

1,012
28,222
557,594

2,505
82,719
7,736,118

$10.00 to $14.99......................
$15.00 to $19.99......................
$20.00 to $24.99 . ....................

5,958
2,900
1,119

5,647,887
1,247,094
373,927

53,311
14,093
5,415

5,594,576
1,233,001
368,512

441,564
127,607
44,789

$25.00 to $29 .99 .....................
$30.00 to $34 .99 ......................
$35.00 or m ore ........................

378
145
121

191,093
58,768
46,552

1,120
991
370

189,973
57,777
46,182

B an k s w ith fixed a n d
s u b sta n d a rd assets p er
$100 o f a p p ra ised va lu e
o f a ssets o f —
$0.00
...................
$0.01 to $ 4.9 9 ..........................
$5.00 to $ 9.9 9 ..........................

40
3,878
4,288

29,453
5,876,511
6,242,523

11
15,922
65,295

$10.00 to $14 .99 .....................
$15.00 to $19.99 .....................
$20.00 to $24.99 .....................

2,603
1,355
701

1,997,400
1,080,207
363,555

$25.00 to $29.99 .....................
$30.00 to $34.99.....................
$35.00 or m ore ........................

308
172
160

189,140
139,815
137,256

Sub­
standard

N ot
criticized

62,836

2,177,196

534,502

1,642,694

2,248
48,061
1,089,877

772
9,460
30,221

1,476
38,601
1,059,656

1,089
24,276
205,704

387
14,325
853,952

5,153,012
1,105,394
323,723

756,287
194,302
81,273

13,545
6,042
3,114

742,742
188,260
78,159

171,851
66,001
31,983

570,891
122,259
46,176

13,143
10,420
4,313

176,830
47,357
41,869

37,976
21,685
8,323

1,U00
945
137

39,376
20,740
8,186

15,187
15,484
2,927

24,189
5,256
5,259

29,442
5,860,589
6,177,228

163,639
431,344

29,442
5,696,950
5,745,884

484
540,516
864,466

150
682
17,299

634
539,834
847,167

51,271
131,231

634
488,563
715,936

25,142
21,298
8,439

1,972,258
1,058,909
355,116

239,932
185,018
71,093

1,732,326
873,891
284,023

319,112
236,918
86,932

8,737
9,125
5,668

310,375
227,793
81,264

101,827
103,385
37,650

208,548
124,408
43,614

5,489
6,649
9,424

183,651
133,166
127,832

47,749
40,469
49,420

135,902
92,697
78,412

59,826
51,810
79,968

4,175
7,145
10,155

55,651
44,665
69,813

30,085
29,905
49,148

25,566
14,760
20,665

CORPORATION

16,055,860

Total

INSURANCE

13,505

Examiners’
deductions
(net)1

DEPOSIT

(In thousands of dollars)
14,669,527
2,240,032

A ll b a n k s .....................................




B ook
Value

FEDERAL

Num ber
of
banks

Fixed and miscellaneous assets

B an ks w ith 3 -yea r aver­
a ge n e t c u r r e n t o p e r ­
a tin g e a rn in g s p er $100
o f t o ta l assets o f —
$-0.50 or m o re ........................
$-0.01 to $ -0 .4 9 .....................

92
1,009

3,444
28,252

414
2,615

3,030
25,637

2,018
7,476

105
1,153

1,913
6,323

1,357
2,846

556
3,477

$ 0.4 9 ..........................
$ 0.9 9 ..........................
$ 1.49..........................
$1.99..........................

1,100
4,113
4,614
2,253

1,474,848
8,994,352
3,947,072
1,155,764

10,654
87,214
44,386
11,080

1,464,194
8,907,138
3,902,686
1,144,684

82,929
625,416
388,514
98,512

1,381,265
8,281,722
3.514.172
1.046.172

257,375
1,290,780
526,442
125,669

14,221
32,928
14,290
603

243,154
1,257,852
512,152
125,066

65,277
260,708
155,338
38,352

177,877
997,144
356,814
86,714

$2.00 to $ 2.49..........................
$2.50 to $ 2.9 9 ..........................
$3.00 or m o re ..........................
N ot available...........................

814
297
186
21

248,697
146,607
51,679
4,044

2,246
734
244
10

246,451
145,873
51,435
4,034

19,888
6,603
3,142
631

226,563
139,270
48,293
3,403

19,159
7,557
2,671
885

212
329
56
21

19,371
7,886
2,615
864

6,955
2,652
1,009
8

12,416
5,234
1,606
856

B an k s w ith d e p o sits o f —
$100,000 or less.......................
$100,000 to $250,000.............
$250,000 to $500,000.............

488
2,486
3,118

25,275
246,602
564,863

649
2,993
4,613

24,626
243,609
560,250

3,860
28,073
51,954

20,766
215,536
508,296

2,717
19,263
43,851

284
1,312
1,452

2,433
17,951
42,399

1,029
5,876
12,806

1,404
12,075
29,593

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

2,937
2,064
1,425

944,394
1,187,654
1,594,407

7,186
11,530
16,377

937,208
1,176,124
1,578,030

78,460
109,702
144,887

858,748
1,066,422
1,433,143

87,827
137,717
222,432

2,335
5,629
6,961

85,492
132,088
215,471

25,510
44,402
73,489

59,982
87,686
141,982

$5,000,000 to $10,000,000.. .
$10,000,000 to $50,000,000..
M ore than $50,000,000.........

487
383
117

1,176,469
2,459,016
7,857,180

11,344
25,679
77,298

1,165,125
2,433,337
7,779,882

102,894
190,146
518,688

1,062,231
2,243,191
7,261,194

179,206
459,380
1,087,639

3,480
21,344
20,039

175,726
438,036
1,067,600

55,361
144,236
171,793

120,365
293,800
895,807

$0.00
$0.50
$1.00
$1.50

to
to
to
to

NOTE:

For explanation of terms, method of adjustment, and banks included, see pages 74-76.

BANKS




differ from examiners’ net deductions from total

INSURED

1 Figures in italics represent excess of appraised value of assets over book value. Examiners’ net deductions from total
capital accounts by the inclusion in the latter of liabilities not shown on the books.

O
F

3,536
29,261

EXAMINERS’ ANALYSIS

17
90

T a b le 131.

A s s e t R a t i o s OF INSURED COMMERCIAL BANKS EXAMINED IN 1939

^

BANKS GROUPED BY NET SOUND CAPITAL RATIO, FIXED AND SUBSTANDARD ASSETS RATIO, RATE OF AVERAGE NET EARNINGS,
AND AMOUNT OF DEPOSITS

N umber
of
banks

Per $100 of securities (book value)
Cash and
due from
banks

Appraised value
Book
value

Examiners’
deductions
(net)1

Sub­
standard

N ot
criticized

Appraised value
Book
value

Examiners’
deductions
(net)1

Total

Sub­
standard

N ot
criticized

$ 0.52

$ 99.48

$ 5.10

$ 94.38

$100.00

$100.00

$ 0.38

$ 99.62

$ 5.66

$ 93.96

10
75
2,799

100.00
100.00
100.00

19.24
5.51
.41

80.76
94.49
99.59

28.77
17.06
3.84

51.99
77.43
95.75

100.00
100.00
100.00

100.00
100.00
100.00

15.28
2.87
.25

84.72
97.13
99.75

37.01
10.56
4.00

47.71
86.57
95.75

$10 00 to $14.99
.................
$15.00 to $19.99 .....................
$20.00 to $24.99 .....................

5,958
2,900
1,119

100.00
100.00
100.00

.54
.97
1.07

99.46
99.03
98.93

5.54
8.49
10.77

93.92
90.54
88.16

100.00
100.00
100.00

100.00
100.00
100.00

.55
1.24
.93

99.45
98.76
99.07

6.63
9.80
11.78

92.82
88.96
87.29

$25 00 to $29.99
.................
$30 00 to $34.99 ...................
$35.00 or m ore ........................

378
145
121

100.00
100.00
100.00

49
1.39
*8.24

100.49
98.61
108.24

9.89
18.37
21.12

90.60
80.24
87.12

100.00
100.00
100.00

100.00
100.00
100.00

1M
.79
2
29.08

101.04
99.21
129.08

13.48
10.04
250.47

87.56
89.17
78.61

Banks with fixed and
substandard assets per
$100 of appraised value
of assets of—
$0 00
..........
$0.01 to $4.99
.....................
$5.00 to $ 9.9 9.........................

40
3,878
4,288

100.00
100.00
100.00

.61
.09
.52

100.61
99.91
99.48

1.52
4.86

100.61
98.39
94.62

100.00
100.00
100.00

100.00
100.00
100.00

1.81
.06
.39

101.31
99.94
99.61

1.78
6.26

101.31
98.16
93.35

$10.00 to $14.99 ...................
$15.00 to $19.99.....................
$20.00 to $24.99.....................

2,603
1,355
701

100.00
100.00
100.00

.88
1.38
2.20

99.12
98.62
97.80

8.95
13.90
17.87

90.17
84.72
79.93

100.00
100.00
100.00

100.00
100.00
100.00

.83
1.21
2.34

99.17
98.79
97.66

8.66
13.48
20.50

90.51
85.31
77.16

$25.00 to $29.99 ...................
$30.00 to $34.99.....................
$35.00 or m ore ........................

308
172
160

100.00
100.00
100.00

2.50
1.85
6.72

97.50
98.15
93.28

22.03
28.64
34.08

75.47
69.51
59.20

100.00
100.00
100.00

100.00
100.00
100.00

1.92
25
.73
5.51

98.08
105.73
94.49

21.19
33.23
28.61

76.89
72.50
65.88




CORPORATION

$100.00

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

INSURANCE

13,505

Banks with net sound
capital per $100 of
appraised
value
of
assets of—
$0.00 or less..............................
$0.01 to $ 4.9 9 ..........................
$5.00 to $ 9.9 9 ..........................

All banks

DEPOSIT

Total

FEDERAL

Per $100 of total assets (book value)

2.52
2.75

97.48
97.25

21.72
7.69

75.76
89.56

100.00
100.00

100.00
100.00

2.50
1.97

97.50
98.03

18.90
7.13

78.60
90.90

$ 0.4 9 ..........................
$ 0.99..........................
$ 1.49..........................
$ 1.99..........................

1,100
4,113
4,614
2,253

100.00
100.00
100.00
100.00

.51
.47
.72
.64

99.49
99.53
99.28
99.36

3.84
4.11
7.43
8.25

95.65
95.42
91.85
91.11

100.00
100.00
100.00
100.00

100.00
100.00
100.00
100.00

.32
.34
.62
.83

99.68
99.66
99.38
99.17

4.40
4.29
7.97
11.73

95.28
95.37
91.41
87.44

$2.00 to $ 2.4 9 ..........................
$2.50 to $ 2.99..........................
$3.00 or m o re ...........................
N ot available...........................

814
297
186
21

100.00
100.00
100.00
100.00

.53
*8.79
.35
.20

99.47
103.79
99.65
99.80

7.70
9.84
6.53
4.27

91.77
93.95
93.12
95.53

100.00
100.00
100.00
100.00

100.00
100.00
100.00
100.00

.60
m .0 8
.02
.04

99.40
121.08
100.02
99.96

10.58
233.97
11.90
1.10

88.82
87.11
88.12
98.86

Banks with deposits of—
$100,000 or less.......................
$100,000 to $250,000.............
$250,000 to $500,000.............

488
2,486
3,118

100.00
100.00
100.00

1.98
.94
.70

98.02
99.06
99.30

11.56
8.81
7.46

86.46
90.25
91.84

100.00
100.00
100.00

100.00
100.00
100.00

.66
.63
.89

99.34
99.37
99.11

11.03
10.78
9.50

88.31
88.59
89.61

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

2,937
2,064
1,425

100.00
100.00
100.00

.73
.89
.84

99.27
99.11
99.16

7.21
7.55
7.35

92.06
91.56
91.81

100.00
100.00
100.00

100.00
100.00
100.00

1.07
1.09
.99

98.93
98.91
99.01

9.41
8.64
8.02

89.52
90.27
90.99

$5,000,000 to $10,000,000. . .
$10,000,000 to $50,000,000..
M ore than $50,000,000.........

487
383
117

100.00
100.00
100.00

.61
.55
.38

99.39
99.45
99.62

6.63
5.69
3.84

92.76
93.76
95.78

100.00
100.00
100.00

100.00
100.00
100.00

.62
.06
.22

99.38
99.94
99.78

6.80
5.35
4.57

92.58
94.59
95.21

$0.00
$0.50
$1.00
$1.50

to
to
to
to

INSURED
BANKS




O
F

100.00
100.00

ANALYSIS

17
90

EXAMINERS'

Banks with 3-year aver­
age net current oper­
ating earnings per $100
of total assets of—
$-0.50 or m o re ........................
$-0.01 to $ -0 .4 9 ......................

05
CO

Table 131.

A s s e t R a t i o s o f I n s u r e d C o m m e r c ia l B a n k s E x a m i n e d in 1939— C on tin ued

BANKS GROUPED B Y NET SOUND CAPITAL RATIO, FIXED AND SUBSTANDARD ASSETS RATIO , RATE OF AVERAGE NET EARNINGS,
AND AMOUNT OF DEPOSITS

N um ber
of
banks

Per $100 of fixed and miscellaneous assets (book value)

Appraised value
B ook
value

Examiners’
deductions
(net)1

Total

N ot
criticized

Examiners’
deductions
(net) 1

Total

Sub­
standard

N ot
criticized

$100.00

$ 0.98

$ 99.02

$ 7.65

$ 91.37

$100.00

$ 2.81

$ 97.19

$ 23.86

$ 73.33

10
75
2,799

100.00
100.00
100.00

21.97
6.85
.89

78.03
93.15
99.11

22.45
23.70
6.66

55.58
69.45
92.45

100.00
100.00
100.00

34.34
19.68
2.77

65.66
80.32
97.23

48.44
50.51
18.87

17.22
29.81
78.36

$10.00 to $14 .99.....................
$15.00 to $19.99......................
$20.00 to $24.99.....................

5,958
2,900
1,119

100.00
100.00
100.00

.94
1.13
1.45

99.06
98.87
98.55

7.82
10.23
11.98

91.24
88.64
86.57

100.00
100.00
100.00

1.79
3.11
3.83

98.21
96.89
96.17

22.72
33.97
39.35

75.49
62.92
56.82

$25.00 to $29 .99.....................
$30.00 to $34 .99.....................
$35.00 or m ore........................

378
145
121

100.00
100.00
100.00

.59
1.69
.79

99.41
98.31
99.21

6.88
17.73
9.26

92.53
80.58
89.95

100.00
100.00
100.00

3.69
4.36
1.65

103.69
95.64
98.35

40.00
271.40
35.17

63.69
24.24
63.18

Banks with fixed and
substandard assets per
$100 of appraised value
of assets of—
$0 00
..........................
$0.01 to $ 4.9 9 ..........................
$5.00 to $ 9 .9 9 ..........................

40
3,878
4,288

100.00
100.00
100.00

.04
.27
1.05

99.96
99.73
98.95

2.78
6.91

99.96
96.95
92.04

100.00
100.00
100.00

30.99
.13
2.00

130.99
99.87
98.00

9.49
15.18

130.99
90.38
82.82

$10.00 to $14.99.....................
$15.00 to $ 19.99.....................
$20.00 to $24.99.....................

2,603
1,355
701

100.00
100.00
100.00

1.26
1.97
2.32

98.74
98.03
97.68

12.01
17.13
19.55

86.73
80.90
78.13

100.00
100.00
100.00

2.74
3.85
6.52

97.26
96.15
93.48

31.91
43.64
43.31

65.35
52.51
50.17

$25.00 to $29.99.....................
$30.00 to $34.99......................
$35.00 or m ore ........................

308
172
160

100.00
100.00
100.00

2.90
4.76
6.86

97.10
95.24
93.14

25.25
28.94
36.01

71.85
66.30
57.13

100.00
100.00
100.00 1

6.98
13.79
12.70

93.02
86.21
87.30

50.29
57.72
61.46

42.73
28.49
25.84




CORPORATION

13,505

Banks with net sound
capital per $100 of
appraised value
of
assets of—
$0.00 or less..............................
$0.01 to $ 4.9 9 ..........................
$5.00 to $ 9.9 9 ..........................

INSURANCE

All b an k s.....................................

DEPOSIT

Sub­
standard

Appraised value
Book
value

FEDERAL

Per $100 of loans (book value)

Banks with 3-year aver­
age net current oper­
ating earnings per $100
of total assets of—
$-0.50 or m o re ........................
$-0.01 to $ -0 .4 9 ......................

2.60
3.45

97.40
96.55

11.71
8.94

85.69
87.61

100.00
100.00

5.20
15.42

94.80
84.58

67.25
38.07

27.55
46.51

$ 0 .4 9 ..........................
$ 0.9 9 ..........................
$ 1.4 9 ..........................
$ 1.99..........................

1,100
4,113
4,614
2,253

100.00
100.00
100.00
100.00

.72
.97
1.12
.96

99.28
99.03
98.88
99.04

5.62
6.95
9.84
8.52

93.66
92.08
89.04
90.52

100.00
100.00
100.00
100.00

5.53
2.55
2.71
.48

94.47
97.45
97.29
99.52

25.36
20.20
29.51
30.52

69.11
77.25
67.78
69.00

$2.00 to $ 2 .4 9 ..........................
$2.50 to $ 2.9 9 ..........................
$3.00 or m o re ...........................
N ot available...........................

814
297
186
21

100.00
100.00
100.00
100.00

.90
.50
.47
.25

99.10
99.50
99.53
99.75

8.00
4.50
6.08
15.60

91.10
95.00
93.45
84.15

100.00
100.00
100.00
100.00

1.11
H .35
2.10
2.37

101.11
104.35
97.90
97.63

36.30
35.09
37.78
0.90

64.81
69.26
60.12
96.73

Banks w ith deposits of—
$100,000 or less.......................
$100,000 to $250,000.............
$250,000 to $500,000.............

488
2,486
3,118

100.00
100.00
100.00

2.57
1.21
.82

97.43
98.79
99.18

15.27
11.38
9.20

82.16
87.41
89.98

100.00
100.00
100.00

10.45
6.81
3.31

89.55
93.19
96.69

37.87
30.50
29.20

51.68
62.69
67.49

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

2,937
2,064
1,425

100.00
100.00
100.00

.76
.97
1.03

99.24
99.03
98.97

8.31
9.24
9.09

90.93
89.79
89.88

100.00
100.00
100.00

2.66
4.09
3.13

97.34
95.91
96.87

29.05
32.24
33.04

68.29
63.67
63.83

$5,000,000 to $10,000,000.. .
$10,000,000 to $50,000,000..
More than $50,000,000.........

487
383
117

100.00
100.00
100.00

.96
1.04
.98

99.04
98.96
99.02

8.75
7.73
6.60

90.29
91.23
92.42

100.00
100.00
100.00

1.94
4.65
1.84

98.06
95.35
98.16

30.89
31.40
15.80

67.17
63.95
82.36

$0.00
$0.50
$1.00
$1.50

to
to
to
to

NOTE:

For explanation of terms, method of adjustment, and banks included, see pages 74-76.

BANKS

165




INSURED

1 Figures in italics represent excess of appraised value of assets over book value. Examiners’ net deductions from total assets differ from examiners’ net deductions from total
capital accounts by the inclusion in the latter of liabilities not shown on the books.
2 For explanation of the apparent irregularity in this item, see page 76.

O
F

100.00
100.00

EXAMINERS’ ANALYSIS

17
90

Table 132.

EXAMINERS* CLASSIFICATION OF ASSETS OF INSURED COMMERCIAL BANKS EXAMINED IN

1939

BANKS GROUPED BY FDIC DISTRICT AND STATE
(Amounts in thousands of dollars)
Securities

Total assets

Examiners’
deductions
(net)1

Total

498 3,374,471
1,130 20,040,173
1,736 7,993,514
1,007 2,570,844

27,128 3,347,343
145,007 19,895,166
67,021 7,926,493
10,086 2,560,758

District
District
District
District

5 ..................................
6 ..................................
7 ..................................
8 ..................................

969
1,460
1,464
1,420

2,076,065
2,914,251
3,556,190
5,589,927

6,125
8,476
6,774
3,710

2,082,190
2,905,775
3,549,416
5,586,217

District
District
District
District

9 ..................................
1 0 ................................
1 1 ................................
1 2 ................................

1,087
1,402
828
504

1,305,496
1,697,104
1,801,783
5,334,607

3,689
3,383
3,395
29,157

State
A la b a m a ..................................
Arizona ..................................
Arkansas .................................
California ..............................
C olorado....................................

208
11
206
194
138

347,377
98,156
188,662
4,192,072
363,724

C onnecticut..............................
Delaware
............................
District of Colum bia.............
Florida
..............................
Georgia......................................

101
41
22
160
266

Idaho
.....................................
Illinois
..................................
Indiana ..................................

46
837
473
583
456

K ansas.......................................

2,970,071 54,982,653 18,643,164 21,315,369

Total

81,196 21,234,173

Sub­
standard

N ot
criticized

1,206,905 20,027,268

181,363 3,165,980
976,250 18,918,916
712,830 7,213,663
113,492 2,447,266

1,091,681
6,912,489
2,039,628
810,644

1,025,584
7,548,562
3,328,805
827,824

9,169
41,933
25,817
3,342

1,016,415
7,506,629
3,302,988
824,482

73,896
455,134
332,168
45,509

942,519
7,051,495
2,970,820
778,973

95,212
132,314
154,748
163,141

1,986,978
2,773,461
3,394,668
5,423,076

751,420
999,730
1,017,774
2,059,694

605,262
902,860
1,547,496
2,196,125

9,087
1,228
3,686
367

614,349
901,632
1,543,810
2,195,758

40,354
50,040
56,970
66,928

573,995
851,592
1,486,840
2,128,830

1,301,807
1,693,721
1,798,388
5,305,450

37,417
42,173
40,964
320,167

1,264,390
1,651,548
1,757,424
4,985,283

397,406
667,600
727,876
1,167,222

475,719
497,076
484,571
1,875,485

806
37
447
3,451

474,913
497,039
484,124
1,872,034

15,684
10,138
10,464
49,620

459,229
486,901
473,660
1,822,414

1,154
78
796
27,743
468

346,223
98,078
187,866
4,164,329
363,256

22,575
1,785
8,281
295,606
7,939

323,648
96,293
179,585
3,868,723
355,317

112,250
33,736
66,395
800,498
162,678

91,647
30,359
49,212
1,487,403
109,920

293
21
160
2,700
71

91,354
30,338
49,052
1,484,703
109,991

4,531
275
3,099
41,472
3,053

86,823
30,063
45,953
1,443,231
106,938

579,152
121,299
392,391
438,686
505,324

4,681
1,622
1,023
975
9,315

574,471
119,677
391,368
437,711
514,639

40,899
14,979
10,719
13,439
31,168

533,572
104,698
380,649
424,272
483,471

172,593
27,494
130,291
185,809
169,005

187,951
44,693
132,423
149,367
106,491

872
956
546
578
10,005

187,079
43,737
131,877
148,789
116,496

9,201
7,546
4,194
6,587
18,044

177,878
36,191
127,683
142,202
98,452

97,501
4,896,109
953,866
693,818
393,111

20
3,339
4,421
371
1,057

97,521
4,892,770
949,445
693,447
392,054

1,289
132,188
52,791
30,954
11,980

96,232
4,760,582
896,654
662,493
380,074

32,474
1,855,000
288,651
204,694
140,759

35,457
2,002,263
373,973
193,863
119,435

35
506
1,700
1U0
33

35,422
2,001,757
372,273
194,003
119,468

490
60,036
17,124
6,894
1,738

34,932
1,941,721
355,149
187,109
117,730

CORPORATION

301,701 57,952,724

N ot
criticized

Examiners’
deductions
(net)1

INSURANCE

13,505 58,254,425

FDIC District
District 1 ..................................
District 2 ..............................
District 3 ..................................
District 4 ..................................

Sub­
standard

Appraised value
B ook
value

DEPOSIT

United States— to ta l..............




Cash and
due from
banks

Appraised value
B ook
value

FEDERAL

Number
of
banks

503,761
568,760
221,518
689,740
2,195,553

2,208
424
4,067
2,325
13,036

501,553
568,336
217,451
687,415
2,182,517

27,382
12,862
17,931
27,633
90,115

474,171
555,474
199,520
659,782
2,092,402

158,801
214,718
56,026
203,892
772,331

142,785
189,484
85,114
308,209
626,376

609
76
1,475
1,163
4,596

142,176
189,408
83,639
307,046
621,780

8,667
4,812
9,325
13,902
42,651

133,509
184,596
74,314
293,144
579,129

M ich igan...................................
M innesota.................................
Mississippi................................
M issouri....................................
M ontana....................................

430
651
193
591
112

1,589,008
969,304
215,919
1,637,777
156,986

2,321
1,650
636
2,893
424

1,591,329
967,654
215,283
1,634,884
156,562

40,294
24,508
15,169
63,891
3,531

1,551,035
943,146
200,114
1,570,993
153,031

451,226
289,579
69,639
590,526
60,842

721,279
358,342
68,272
575,893
56,825

515
527
29
214
33

721,794
357,815
68,301
575,679
56,792

15,479
11,411
6,379
29,339
1,205

706,315
346,404
61,922
546,340
55,587

N ebraska...................................
N evad a......................................
N ew Ham pshire......................
N ew Jersey...............................
N ew M ex ico.............................

367
10
56
354
40

347,259
42,150
97,308
1,890,462
64,477

783
88
1,127
28,793
151

346,476
42,062
96,181
1,861,669
64,326

8,923
439
5,275
192,566
902

337,553
41,623
90,906
1,669,103
63,424

115,087
14,111
22,587
442,024
23,573

109,277
15,107
36,013
785,720
18,747

39
45
606
5,493
4

109,238
15,062
35,407
780,227
18,743

1,298
241
3,411
63,818
172

107,940
14,821
31,996
716,409
18,571

New Y o r k .................................
N orth C arolina........................
North D a k ota ..........................
O h io ............................................
Oklahom a..................................

735 18,028,411
211
314,948
78,136
158
687 2,599,238
520,593
383

768,703 17,145,115
297,970
16,452
71,791
5,315
131,177 2,458,729
10,965
508,659

6,442,970
115,494
19,468
786,587
219,965

6,718,148
85,227
28,844
906,491
141,034

35,484
90
107
3,816
79

6,682,664
85,137
28,737
902,675
140,955

383,769
9,677
1,688
47,220
3,738

6,298,895
75,460
27,049
855,455
137,217

114,593 17,913,818
526
314,422
1,030
77,106
9,332 2,589,906
519,624
969
550
57,687
749
231
583

323,658
5,336,587
146,914
152,607
100,487

6,211
581,654
6,323
3,546
4,064

317,447
4,754,933
140,591
149,061
96,423

94,005
1,253,039
45,269
60,219
27,518

125,154
2,422,313
43,981
38,684
31,708

226
22,000
240
7
140

124,928
2,400,313
43,741
38,677
31,568

1,482
284,949
3,050
1,927
1,379

123,446
2,115,364
40,691
36,750
30,189

Tennessee..................................
T exa s.........................................
U ta h ...........................................
V erm ont....................................
Virginia......................................

292
777
51
74
314

584,052
1,639,150
165,481
133,276
683,646

2,580
3,167
20
3,466
2,912

581,472
1,635,983
165,501
129,810
680,734

32,760
38,277
3,427
20,820
30,711

548,712
1,597,706
162,074
108,990
650,023

184,008
670,566
55,655
22,877
196,985

134,970
435,465
49,676
46,149
175,420

243
423
34
1,380
688

134,727
435,042
49,642
44,769
174,732

8,936
10,017
830
6,258
8,500

125,791
425,025
48,812
38,511
166,232

W ashington..............................
W est V irginia...........................
W isconsin..................................
W yom in g..................................

132
174
561
58

513,195
337,281
1,013,317
72,418

816
3,069
4,674
110

512,379
334,212
1,008,643
72,308

13,194
24,432
61,664
2,363

499,185
309,780
946,979
69,945

170,480
103,762
277,897
29,111

162,689
87,861
452,244
17,411

411
848
2,502
24

162,278
87,013
449,742
17,387

5,106
7,308
24,366
311

157,172
79,705
425,376
17,076




BANKS

324,208
5,394,274
147,663
152,838
101,070

INSURED

71
1,049
15
111
166

O
F

O regon.......................................
Pennsylvania............................
R hode Island............................
South Carolina........................
South D a k ota ..........................

ANALYSIS

371
142
60
175
192

EXAMINERS'

K en tu cky..................................
Louisiana..................................
M a in e........................................
M aryland..................................
Massachusetts..........................

Table 132.

EXAM INERS

CLASSIFICATION OF ASSETS OF INSURED COMMERCIAL BAN KS EXAMINED IN

1939— Continued

^

00

BANKS GROUPED BY FDIC DISTRICT AND STATE
(Amounts in thousands of dollars)
Fixed and miscellaneous assets

Loans, discounts, and overdrafts

Appraised value

Appraised value
B ook
value

Examiners’
deductions
(net)1

Total

Sub­
standard

N ot
criticized

B ook
value

Examiners’
deductions
(net)1

T otal

Sub­
standard

N ot
criticized

157,669

15,898,191

1,228,664

14,669,527

2,240,032

62,836

2,177,196

534,502

1,642,694

498
1,130
1,736
1,007

1,111,034
4,770,177
2,186,203
828,305

13,567
74,178
27,748
4,922

1,097,467
4,695,999
2,158,455
823,383

72,065
356,365
218,587
47,205

1,025,402
4,339,634
1,939,868
776,178

146,172
808,945
438,878
104,071

4,392
28,896
13,456
1,822

141,780
780,049
425,422
102,249

35,402
164,751
162,075
20,778

106,378
615,298
263,347
81,471

District
District
District
District

5 ..................................
6 ..................................
7 ..................................
8 ..................................

969
1,460
1,464
1,420

637,343
933,374
891,843
1,225,754

2,456
5,563
3,416
2,948

634,887
927,811
888,427
1,222,806

33,250
63,805
69,085
71,972

601,637
864,006
819,342
1,150,834

82,040
78,287
99,077
108,354

506
1,685
328
395

81,534
76,602
99,405
107,959

21,608
18,469
28,693
24,241

59,926
58,133
70,712
83,718

District
District
District
District

9 ..................................
1 0 ................................
1 1 ................................
1 2 ................................

1,087
1,402
828
504

394,580
489,679
531,397
2,056,171

2,053
2,963
2,588
15,267

392,527
486,716
528,809
2,040,904

17,691
28,473
22,513
227,653

374,836
458,243
506,296
1,813,251

37,791
42,749
57,939
235,729

830
383
360
10,439

36,961
42,366
57,579
225,290

4,042
3,562
7,987
42,894

32,919
38,804
49,592
182,396

S ta te
A labam a....................................
A rizona......................................
Arkansas....................................
California..................................
C olorad o....................................

208
11
206
194
138

124,578
29,996
67,808
1,702,222
83,538

662
56
493
14,536
516

123,916
29,940
67,315
1,687,686
83,022

10,285
848
3,969
213,789
4,209

113,631
29,092
63,346
1,473,897
78,813

18,902
4,065
5,247
201,949
7,588

199
1
143
10,507
23

18,703
4,064
5,104
191,442
7,565

7,759
662
1,213
40,345
677

10,944
3,402
3,891
151,097
6,888

C onnecticut..............................
D elaw are...................................
District of C olum bia.............
F lorid a .......................................
G eorgia......................................

101
41
22
160
266

189,133
43,775
106,538
88,190
206,890

2,574
466
365
333
480

186,559
43,309
106,173
87,857
206,410

19,647
5,819
3,169
4,404
7,335

166,912
37,490
103,004
83,453
199,075

29,475
5,337
23,139
15,320
22,938

1,235
200
112
64
210

28,240
5,137
23,027
15,256
22,728

12,051
1,614
3,356
2,448
5,789

16.189
3,523
19,671
12,808
16,939

I d a h o ..........................................
Illinois........................................
Indiana......................................
Io w a ...........................................
K ansas.......................................

46
837
473
583
456

27,392
945,077
258,157
280,676
121,687

52
2,091
1,868
859
985

27,444
942,986
256,289
279,817
120,702

734
50,124
24,181
21,845
8,477

26,710
892,862
232,108
257,972
112,225

2,178
93,769
33,085
14,585
11,230

3
742
853
3U8
105

2,181
93,027
32,232
14,933
11,125

65
22,028
11,486
2,215
1,765

2,116
70,999
20,746
12,718
9,360




CORPORATION

16,055,860

INSURANCE

13,505

F D IC D is tr ic t
District 1 ..................................
District 2 . .. ............................
District 3 ..................................
District 4 ...................................

DEPOSIT

U n ited S ta tes— t o t a l ..............

FEDERAL

Num ber
of
banks

186,880
147,168
71,804
156,861
696,631

15,612
4,683
6,948
10,376
31,328

171,268
142,485
64,856
146,485
665,303

13,737
16,938
6,637
19,860
93,434

41
10k
655
244
1,659

13,696
17,042
5,982
19,616
91,775

3,103
3,367
1,658
3,355
16,136

10,593
13,675
4,324
16,261
75,639

M ich igan...................................
M innesota.................................
M ississippi................................
M issouri....................................
M ontana....................................

430
651
193
591
112

381,174
295,864
70,066
437,687
34,992

185
794
528
1,746
319

380,989
295,070
69,538
435,941
34,673

16,382
10,723
6,546
25,973
2,028

364,607
284,347
62,992
409,968
32,645

35,329
25,519
7,942
33,671
4,327

1,991
329
137
933
72

37,320
25,190
7,805
32,738
4,255

8,433
2,374
2,244
8,579
298

28,887
22,816
5,561
24,159
3,957

N ebraska...................................
N evada......................................
N ew H am pshire......................
New Jersey...............................
New M exico.............................

367
10
56
354
40

113,585
11,799
35,330
522,507
20,842

561
31
451
11,726
140

113,024
11,768
34,879
510,781
20,702

7,005
161
1,614
73,924
660

106,019
11,607
33,265
436,857
20,042

9,310
1,133
3,378
140,211
1,315

183
12
70
11,574
7

9,127
1,121
3,308
128,637
1,308

620
37
250
54,824
70

8,507
1,084
3,058
73,813
1,238

New Y o r k .................................
North C arolina........................
N orth D a k ota ..........................
O h io............................................
Oklahom a..................................

735
211
158
687
383

4,203,896
105,214
25,712
794,196
146,568

61,985
358
641
4,234
709

4,141,911
104,856
25,071
789,962
145,859

276,623
5,016
2,805
52,847
6,952

3,865,288
99,840
22,266
737,115
138,907

663,397
9,013
4,112
111,964
13,026

17,124
78
282
1,282
181

646,273
8,935
3,830
110,682
12,845

108,311
1,759
822
31,110
275

537,962
7,176
3,008
79,572
12,570

O regon.......................................
Pennsylvania............................
Rhode Island............................
South Carolina........................
South D a k o ta ..........................

71
1,049
15
111
166

93,419
1,392,006
52,949
49,925
38,012

300
23,512
364
89
298

93,119
1,368,494
52,585
49,836
37,714

3,886
165,741
2,453
1,012
2,136

89,233
1,202,753
50,132
48,824
35,578

11,630
326,916
5,464
4,010
3,832

24
12,175
145
135
145

11,606
314,741
5,319
3,875
3,687

843
130,964
820
607
549

10,763
183,777
4,499
3,268
3,138

Tennessee..................................
T e x a s.........................................
U ta h ...........................................
V erm ont.....................................
Virginia......................................

292
777
51
74
314

239,441
480,558
54,949
56,470
281,112

1,766
2,391
47
1,459
1,739

237,675
478,167
54,902
55,011
279,373

18,251
21,005
2,014
10,078
16,962

219,424
457,162
52,888
44,933
262,411

25,633
52,561
5,201
7,780
30,129

571
353
101
627
485

25,062
52,208
5,302
7,153
29,644

5,573
7,255
583
4,484
5,249

19,489
44,953
4,719
2,669
24,395

W ashington..............................
W est V irginia...........................
W isconsin..................................
W yom in g..................................

132
174
561
58

166,389
127,737
252,512
24,302

408
1,454
1,363
193

165,981
126,283
251,149
24,109

7,064
10,669
28,522
1,830

158,917
115,614
222,627
22,279

13,637
17,921
30,664
1,594

3
767
809
107

13,640
17,154
29,855
1,701

1,024
6,455
8,776
222

12,616
10,699
21,079
1,479

1 Figures in italics represent excess of appraisal value of assets over book value. Examiners' net deductions from total assets differ from examiners’ net deductions from total
capital accounts b y the inclusion in the latter of liabilities not shown on the books.
N OTE:

BANKS

1,558
452
1,937
918
6,781

INSURED

188,438
147,620
73,741
157,779
703,412

O
F

371
142
60
175
192

EXAMINERS’ ANALYSIS

K en tu cky..................................
L ouisiana...................................
M a in e.........................................
M aryland..................................
Massachusetts..........................

For explanation of terms, method of adjustment, and banks included, see pages 74-76.

169




T a b le 1 33 .

ASSET RATIOS OF INSURED COMMERCIAL BANKS EXAMINED IN 1939
BANKS GROUPED BY FDIC DISTRICT AND STATE
Per $100 of securities (book value)

total assets (book value)
Cash and
due from
banks

Appraised value
B ook
value

Examiners’
deductions
(net)

Total

Sub­
standard

N ot
criticized

Appraised value
Book
value

Examiners’
deductions
(net)1

Total

Sub­
standard

N ot
criticized

$0.52

$99.48

$5.10

$94.38

$100.00

$100.00

$0.38

$99.62

$5.66

$93.96

F D IC D is tr ic t
District 1 ....................
District 2 ....................
District 3 ....................
District 4 ....................

498
1,130
1,736
1,007

100.00
100.00
100.00
100.00

.80
.72
.84
.39

99.20
99.28
99.16
99.61

5.37
4.87
8.92
4.41

93.83
94.41
90.24
95.20

100.00
100.00
100.00
100.00

100.00
100.00
100.00
100.00

.89
.56
.78
.40

99.11
99.44
99.22
99.60

7.21
6.03
9.98
5.50

91.90
93.41
89.24
94.10

District
District
District
District

5 ...................
6 ....................
7 ....................
8 ....................

969
1,460
1,464
1,420

100.00
100.00
100.00
100.00

.30
.29
.19
.07

100.30
99.71
99.81
99.93

4.59
4.54
4.35
2.92

95.71
95.17
95.46
97.01

100.00
100.00
100.00
100.00

100.00
100.00
100.00
100.00

1.50
.14
.24
.02

101.50
99.86
99.76
99.98

6.67
5.54
3.68
3.05

94.83
94.32
96.08
96.93

District
District
District
District

9 ....................
1 0 .................
1 1 .................
1 2 .................

1,087
1,402
828
504

100.00
100.00
100.00
100.00

.28
.20
.19
.55

99.72
99.80
99.81
99.45

2.87
2.48
2.27
6.00

96.85
97.32
97.54
93.45

100.00
100.00
100.00
100.00

100.00
100.00
100.00
100.00

.17
.01
.09
.18

99.83
99.99
99.91
99.82

3.30
2.04
2.16
2.65

96.53
97.95
97.75
97.17

S ta te
A labam a.....................
Arizona.......................
Arkansas.....................
California...................
C olorado.....................

208
11
206
194
138

100.00
100.00
100.00
100.00
100.00

.33
.08
.42
.66
.13

99.67
99.92
99.58
99.34
99.87

6.50
1.82
4.39
7.05
2.18

93.17
98.10
95.19
92.29
97.69

100.00
100.00
100.00
100.00
100.00

100.00
100.00
100.00
100.00
100.00

.32
.07
.33
.18
.06

99.68
99.93
99.67
99.82
100.06

4.94
.91
6.30
2.79
2.78

94.74
99.02
93.37
97.03
97.28

C onnecticut...............
Delaw are....................
District of Columbia
F lorid a ........................
Georgia.......................

101
41
22
160
266

100.00
100.00
100.00
100.00
100.00

.81
1.34
.26
.22
1.84

99.19
98.66
99.74
99.78
101.84

7.06
12.35
2.73
3.06
6.17

92.13
86.31
97.01
96.72
95.67

100.00
100.00
100.00
100.00
100.00

100.00
100.00
100.00
100.00
100.00

.46
2.14
.41
.39
9.40

99.54
97.86
99.59
99.61
109.40

4.90
16.88
3.17
4.41
16.94

94.64
80.98
96.42
95.20
92.46

I d a h o ...........................
Illinois........................
Indiana.......................
I o w a ............................
Kansas........................

46
837
473
583
456

100.00
100.00
100.00
100.00
100.00

.07
.46
.05
.27

100.02
99.93
99.54
99.95
99.73

1.32
2.70
5.53
4.46
3.05

98.70
97.23
94.01
95.49
96.68

100.00
100.00
100.00
100.00
100.00

100.00
100.00
100.00
100.00
100.00

.10
.03
.45
.07
.03

99.90
99.97
99.55
100.07
100.03

1.38
3.00
4.58
3.56
1.46

98.52
96.97
94.97
96.51
98.57




CORPORATION

$ 100.00

INSURANCE

13,505

DEPOSIT

U n ite d S ta tes— t o ta l.

FEDERAL

Number
of
banks

5.44
2.26
8.09
4.01
4.10

94.12
97.67
90.07
95.65
95.31

100.00
100.00
100.00
100.00
100.00

100.00
100.00
100.00
100.00
100.00

.43
.04
1.73
.38
.73

99.57
99.96
98.27
99.62
99.27

6.07
2.54
10.96
4.51
6.81

93.50
97.42
87.31
95.11
92.46

430
651
193
591
112

100.00
100.00
100.00
100.00
100.00

.15
.17
.29
.18
.27

100.15
99.83
99.71
99.82
99.73

2.54
2.53
7.03
3.90
2.25

97.61
97.30
92.68
95.92
97.48

100.00
100.00
100.00
100.00
100.00

100.00
100.00
100.00
100.00
100.00

.07
.ou
.04
.06

100.07
99.85
100.04
99.96
99.94

2.15
3.18
9.34
5.09
2.12

97.92
96.67
90.70
94.87
97.82

New M ex ico.............................

367
10
56
354
40

100.00
100.00
100.00
100.00
100.00

.23
.21
1.16
1.52
.23

99.77
99.79
98.84
98.48
99.77

2.57
1.04
5.42
10.19
1.40

97.20
98.75
93.42
88.29
98.37

100.00
100.00
100.00
100.00
100.00

100.00
100.00
100.00
100.00
100.00

.04
.30
1.68
.70
.02

99.96
99.70
98.32
99.30
99.98

1.19
1.60
9.47
8.12
.92

98.77
98.10
88.85
91.18
99.06

N ew Y o r k .................................
N orth Carolina........................
N orth D a k ota ..........................
O h io ............................................
Oklahoma..................................

735
211
158
687
383

100.00
100.00
100.00
100.00
100.00

.64
.17
1.32
.36
.19

99.36
99.83
98.68
99.64
99.81

4.26
5.22
6.80
5.05
2.11

95.10
94.61
91.88
94.59
97.70

100.00
100.00
100.00
100.00
100.00

100.00
100.00
100.00
100.00
100.00

.53
.11
.37
.42
.06

99.47
99.89
99.63
99.58
99.94

5.71
11.35
5.85
5.21
2.65

93.76
88.54
93.78
94.37
97.29

O regon.......................................
Pennsylvania............................
R hode Island............................
South Carolina........................
South D a k ota ..........................

71
1,049
15
111
166

100.00
100.00
100.00
100.00
100.00

.17
1.07
.51
.15
.58

99.83
98.93
99.49
99.85
99.42

1.92
10.78
4.28
2.32
4.02

97.91
88.15
95.21
97.53
95.40

100.00
100.00
100.00
100.00
100.00

100.00
100.00
100.00
100.00
100.00

.18
.91
.55
.02
.44

99.82
99.09
99.45
99.98
99.56

1.18
11.76
6.93
4.98
4.35

98.64
87.33
92.52
95.00
95.21

Tennessee..................................
T e x a s..........................................
U ta h ...........................................
V erm ont....................................
Virginia......................................

292
777
51
74
314

100.00
100.00
100.00
100.00
100.00

.44
.19
.01
2.60
.43

99.56
99.81
100.01
97.40
99.57

5.61
2.34
2.07
15.62
4.49

93.95
97.47
97.94
81.78
95.08

100.00
100.00
100.00
100.00
100.00

100.00
100.00
100.00
100.00
100.00

.18
.10
.07
2.99
.39

99.82
99.90
99.93
97.01
99.61

6.62
2.30
1.67
13.56
4.85

93.20
97.60
98.26
83.45
94.76

W ashington..............................
W est V irginia...........................
W isconsin..................................
W yom in g..................................

132
174
561
58

100.00
100.00
100.00
100.00

.16
.91
.46
.15

99.84
99.09
99.54
99.85

2.57
7.24
6.09
3.26

97.27
91.85
93.45
96.59

100.00
100.00
100.00
100.00

100.00
100.00
100.00
100.00

.25
.97
.55
.14

99.75
99.03
99.45
99.86

3.14
8.32
5.39
1.79

96.61
90.71
94.06
98.07

M a in e.........................................

N ebraska...................................




.15

BANKS

99.56
99.93
98.16
99.66
99.41

INSURED

.44
.07
1.84
.34
.59

O
F

100.00
100.00
100.00
100.00
100.00

EXAMINERS’ ANALYSIS

371
142
60
175
192

H
-1

Table 133.

A s s e t R a t i o s OF I n s u r e d C o m m e r c ia l B a n k s E x a m i n e d IN

1939— Continued

BANKS GROUPED BY FDIC DISTRICT AND STATE
Per $100 of fixed and miscellaneous assets (book value)

Per $100 of loans (book value)

Appraised value

Appraised value
B ook
value

Examiners’
deductions
(net)1

Total

Sub­
standard

N ot
criticized

Book
value

Examiners’
deductions
(net)1

Total

Sub­
standard

N ot
criticized

$0.98

$99.02

$7.65

$91.37

$100.00

$2.81

$97.19

$23.86

$73.33

498
1,130
1,736
1,007

100.00
100.00
100.00
100.00

1.22
1.56
1.27
.59

98.78
98.44
98.73
99.41

6.49
7.47
10.00
5.70

92.29
90.97
88.73
93.71

100.00
100.00
100.00
100.00

3.00
3.57
3.07
1.75

97.00
96.43
96.93
98.25

24.22
20.37
36.93
19.97

72.78
76.06
60.00
78.28

D istrict
District
D istrict
District

5 ..................................
6 ..................................
7 ..................................
8 ..................................

969
1,460
1,464
1,420

100.00
100.00
100.00
100.00

.39
.60
.38
.24

99.61
99.40
99.62
99.76

5.22
6.84
7.75
5.87

94.39
92.56
91.87
93.89

100.00
100.00
100.00
100.00

.62
2.15
.83
.36

99.38
97.85
100.33
99.64

26.34
23.59
28.96
22.37

73.04
74.26
71.37
77.27

District
District
District
District

9 ..................................
1 0 ............. ..................
1 1 ................................
1 2 ................................

1,087
1,402
828
504

100.00
100.00
100.00
100.00

.52
.61
.49
.74

99.48
99.39
99.51
99.26

4.48
5.81
4.24
11.07

95.00
93.58
95.27
88.19

100.00
100.00
100.00
100.00

2.20
i .90
.62
4.43

97.80
99.10
99.38
95.57

10.70
8.33
13.79
18.20

87.10
90.77
85.59
77.37

State
A labam a....................................
A rizon a......................................
Arkansas....................................
C alifornia..................................
C olorad o....................................

208
11
206
194
138

100.00
100.00
100.00
100.00
100.00

.53
.19
.73
.85
.62

99.47
99.81
99.27
99.15
99.38

8.26
2.83
5.85
12.56
5.04

91.21
96.98
93.42
86.59
94.34

100.00
100.00
100.00
100.00
100.00

1.05
.02
2.73
5.20
.30

98.95
99.98
97.27
94.80
99.70

41.05
16.29
23.12
19.98
8.92

57.90
83.69
74.15
74.82
90.78

C onnecticut..............................
Delaw are...................................
District of C olum bia.............
F lorid a .......................................
G eorgia......................................

101
41
22
160
266

100.00
100.00
100.00
100.00
100.00

1.36
1.06
,34
.38
.23

98.64
98.94
99.66
99.62
99.77

10.39
13.29
2.97
4.99
3.55

88.25
85.65
96.69
94.63
96.22

100.00
100.00
100.00
100.00
100.00

4.19
S.75
.48
.42
.92

95.81
96.25
99.52
99.58
99.08

40.89
30.24
14.50
15.98
25.24

54.92
66.01
85.02
83.60
73.84

I d a h o ..........................................
Illinois........................................
Indiana......................................
I o w a ...........................................
K ansas.......................................

46
837
473
583
456

100.00
100.00
100.00
100.00
100.00

.19
.22
.72
.31
.81

100.19
99.78
99.28
99.69
99.19

2.68
5.30
9.37
7.78
6.97

97.51
94.48
89.91
91.91
92.22

100.00
100.00
100.00
100.00
100.00

•U
.79
2.58
2.89
.93

100.14
99.21
97.42
102.39
99.07

2.98
23.49
34.72
15.19
15.72

97.16
75.72
62.70
87.20
83.35




CORPORATION

$100.00

INSURANCE

13,505

FDIC District
D istrict 1 ..................................
D istrict 2 ..................................
District 3 ..................................
District 4 ..................................

DEPOSIT

United States— to ta l..............

FEDERAL

N um ber
of
banks

K en tu ck y...........
L ouisiana...........
M a in e.................
M aryland...........
Massachusetts. .

371
142
60
175
192

100.00
100.00
100.00
100.00
100.00

M ich igan...........
M innesota.........
M ississippi.........
M issouri.............
M on tana ............

430
651
193
591
112

100.00
100.00
100.00

N ebraska...........
N eva d a ...............
N ew Hampshire
N ew Jersey. . . .
N ew M ex ico___

367
10
56
354
40

100.00

100.00
100.00
100.00

N ew Y o r k ..........
N orth Carolina.
N orth D akota. .
O h io ....................
Oklahom a..........

735
211
158
687

100.00

O regon................
Pennsylvania. . .
R hode Isla n d .. .
South Carolina.
South D akota. .

.30
.61
9.87
1.23
1.78

99.70
100.61
90.13
98.77
98.22

22.59
19.88
24.98
16.89
17.27

77.11
80.73
65.15
81.88
80.95

.05
.27
.75
.40
.91

99.95
99.73
99.25
99.60
99.09

4.30
3.62
9.34
5.93
5.80

95.65
96.11
89.91
93.67
93.29

100.00
100.00
100.00
100.00
100.00

5.64.
1.29
1.73
2.77
1.66

105.64
98.71
98.27
97.23
98.34

23.87
9.30
28.25
25.48
6.89

81.77
89.41
70.02
71.75
91.45

.49
.26
1.28
2.24
.67

99.51
99.74
98.72
97.76
99.33

6.17
1.36
4.57
14.15
3.17

93.34
98.38
94.15
83.61
96.16

100.00
100.00
100.00
100.00
100.00

1.97
1.06
2.07
8.25
.53

98.03
98.94
97.93
91.75
99.47

6.66
3.27
7.40
39.10
5.32

91.37
95.67
90.53
52.65
94.15

100.00
100.00
100.00

1.47
.34
2.49
.53
.48

98.53
99.66
97.51
99.47
99.52

6.58
4.77
10.91
6.65
4.74

91.95
94.89
86.60
92.82
94.78

100.00
100.00
100.00
100.00
100.00

2.58
.87
6.86
1.15
1.39

97.42
99.13
93.14
98.85
98.61

16.33
19.52
19.99
27.79
2.11

81.09
79.61
73.15
71.06
96.50

71
1,049
15
111
166

100.00
100.00
100.00
100.00
100.00

.32
1.69
.69
.18
.78

99.68
98.31
99.31
99.82
99.22

4.16
11.91
4.63
2.03
5.62

95.52
86.40
94.68
97.79
93.60

100.00
100.00
100.00
100.00
100.00

.21
3.72
2.65
3.37
3.78

99.79
96.28
97.35
96.63
96.22

7.25
40.06
15.01
15.14
14.33

92.54
56.22
82.34
81.49
81.89

Tennessee...........
T exas..................
U ta h ....................
V erm ont.............
Virginia..............

292
777
51
74
314

100.00

.74
.50
.09
2.58
.62

99.26
99.50
99.91
97.42
99.38

7.62
4.37
3.67
17.85
6.03

91.64
95.13
96.24
79.57
93.35

100.00
100.00
100.00
100.00
100.00

2.23
.67
1.94.
8.06
1.61

97.77
99.33
101.94
91.94
98.39

21.74
13.80
11.21
57.63
17.42

76.03
85.53
90.73
34.31
80.97

W ashington
W est V irginia. .
W isconsin...........
W yom in g...........

132
174
561
58

100.00

.25
1.14
.54
.79

99.75
98.86
99.46
99.21

4.25
8.35
11.30
7.53

95.50
90.51
88.16
91.68

100.00
100.00
100.00
100.00

.02
4.28
2.64
6.71

100.02
95.72
97.36
106.71

7.51
36.02
28.62
13.93

92.51
59.70
68.74
92.78

100.00

100.00

100.00
100.00

100.00
100.00
100.00
100.00

100.00

100.00
100.00

1 Figures in italics represent excess of appraised value of assets over book value. Examiners’ net deductions from total assets differ from examiners’ net deductions from total
capital accounts b y the inclusion in the latter of liabilities not shown on the books.
NOTE:

banks

100.00
100.00
100.00
100.00
100.00

insured

90.89
96.52
87.95
92.84
94.59

o
f

8.28
3.17
9.42
6.58
4.45

a n a l y s is

99.17
99.69
97.37
99.42
99.04

e x a m in e r s '

.31
2.63
.58
.96

For explanation of terms, method of adjustment, and banks included, see pages 74-76.




-3
00

T a b le 134.

DISTRIBUTION OF INSURED COMMERCIAL BANKS EXAMINED IN 1939 ACCORDING TO N E T SOUND CAPITAL RATIO

BAN KS GROUPED B Y FIX E D AND SUBSTANDARD ASSETS RATIO, RATE OF AVERAGE NET EARNINGS, AND AMOUNT OF DEPOSITS
Banks with net sound capital per $100 of appraised value of assets of—
All
banks

All b an k s............................................................

13,505

$30.00
to
$34.99

$25.00
to
$29.99

$20.00
to
$24.99

$15.00
to
$19.99

$10.00
to
$14.99

$5.00
to
$9.99

$0.01
to
$4.99

$0.00
or
less

$35.00
or
more

5,958

2,900

1,119

378

145

121

10
1,180
826

18
1,741
2,028

5
615
918

1
216
324

2
72
120

2
21
36

1
20
26

11
6
9

401
180
102

1,174
574
245

622
373
196

253
146
91

80
44
33

35
19
11

27
12
13

$10 00 to $14 99
....................................
$15.00 to $19 .99 .............................................
$20.00 to $24.99.............................................

2,603
1,355
701

$25.00 to $29.99.............................................
$30 00 to $34.99 ...........................................
$35.00 or m o re ................................................

308
172
160

3
5

8
7
10

48
26
26

99
46
33

80
51
40

46
22
20

12
6
9

7
6
8

5
8
9

Banks with 3-year average net cur­
rent operating earnings per $100
of total assets of—
$— 50 or more
0
....................................
$-0.01 to $ -0 .4 9 .............................................

17
90

1
1

1

20

2
43

4
13

1
5

1
3

4
3

4
1

1,100
4,113
4,614
2,253

4
3
1

19
37
11
5

387
1,203
859
252

419
1,884
2,222
955

148
680
1,025
637

84
204
328
283

25
59
115
64

6
31
30
30

8
12
23
27

2

59
15
3
1

293
94
37
9

247
83
58
5

123
58
31
2

51
29
29
2

20
11
9
1

19
7
19
1

$0.00
$0.50
$1.00
$1 50

to
to
to
to

$ 0.4 9 .................................................
$ 0.99.................................................
$ 1.4 9 .................................................
$1 99
...........................................

1
1

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

814
297
186
21

Banks with deposits of—
$100,000 or less...............................................
$100,000 to $250,000....................................
$250,000 to $500,000....................................

488
2,486
3,118

2
1
1

2
5
12

9
115
445

47
755
1,584

100
906
764

121
479
220

92
151
58

58
46
15

57
28
19

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

2,937
2,064
1,425

3
2
1

13
13
15

689
573
485

1,477
1,053
664

542
311
199

151
83
45

41
20
10

14
7
1

7
2
5

$5 000 000 to $10 000,000 ..........................
$10 000 000 to $50 000 000
More than $50 000 000

487
383
117

5
10

197
210
76

217
127
34

48
26
4

12
7
1

4

2
2

2
1

$2 00 to $2.49
$2 50 to $2 99
$3 00 or more
N ot available

NOTE:

2

For explanation of terms, m ethod of adjustment, and banks included, see pages 74-76.


Back figures— For 1938


figures, prepared on the basis of the original examination procedure, see the Annual Report for 1938, p. 188 and p. 189.

CORPORATION

40
3,878
4,288

INSURANCE

Banks with fixed and substandard
assets per $100 of appraised value
of assets of—
$0.00
..........................................................
$0.01 to $ 4 .9 9 .................................................
$5.00 to $9.99 ...............................................

DEPOSIT

2,799

FEDERAL

75

1
13
10

10

T a b le 135.

D IS T R IB U T IO N OF D E PO SITS OF INSURED COMMERCIAL B A N K S E X A M IN E D IN 1939 ACCORDING TO N E T SOUND CAPITA L R A T IO

BAN KS GROUPED B Y F IX E D AND SUBSTANDARD ASSETS RATIO, RATE OF AVERAGE NET EARNINGS, AND AMOUNT OF DEPOSITS
Banks with net sound capital per $100 of appraised value of assets of—
All
banks

All b a n k s........................................................

$0.00

9,697

$0.01
to
$4.99

$5.00
to
$9.99

$10.00
to
$14.99

$15.00
to
$19.99

(In thousands of dollars)
16,345,058
3,375,596

$20.00
to
$24.99

29,337,366

2,316
93,847
15,749

55,807
14,675,987
11,578,180

31,750
6,688,631
5,346,081

2,963
507,267
1,381,258

133
217,731
137,476

16,787
9,505
13,906

1,877,139
787,519
155,640

2,248,494
1,394,735
392,314

655,903
475,921
173,400

871,402

$30.00
to
$34.99

$35.00

76,083

7,173
5,453
15,647

758
4,033
11,707

179,164
141,395
99,101

89,700
18,642
33,303

9,474
25,519
2,579

7,287
2,245
10,755

5,083,948
2,855,534
882,460

53
1,462

$25.00 to $29.99.........................................
$30.00 to $34.99.........................................
$35.00 or more............................................

431,180
317,183
287,696

6,321

62,786
68,603
64,622

75,961
83,705
47,428

145,633
55,606
41,814

85,280
61,208
32,396

35,460
15,551
45,391

13,668
1,195
5,199

4,058
1,967
41,048

6,473
29,348
3,477

7,034
87,978

1,462

154

26,589

634
47,724

951
6,907

134
3,541

1,346
256

2,771
1,176

1,110
169

$ 0.4 9 .............................................
$ 0.9 9 .............................................
$ 1.4 9 .............................................
$ 1.99.............................................

5,639,887
31,086,848
10,411,927
3,008,916

5,025
2,333
789

123,416
163,265
28,248
32,192

4,446,270
20,423,669
4,034,176
337,383

864,949
9,475,939
4,527,544
1,112,154

79,681
828,818
1,288,199
1,011,780

90,586
133,791
396,419
176,467

28,178
14,111
115,440
308,230

1,069
43,981
16.350
13.351

713
941
4,762
17,359

$2.00 to $ 2.49.............................................
$2.50 to $ 2.9 9 .............................................
$3.00 or more..............................................
Not available...............................................

446,426
209,905
63,802
13,933

846

46,535
20,335
1,040
1,369

202,140
85,454
19,516
9,004

110,270
24,910
22,926
1,154

39,858
20,814
8,586
1,206

16,118
9,181
6,855
700

23,730
8,930
1,240
320

6,929
40,281
3,639
180

Banks with deposits of—
$100,000 or less...........................................
$100,000 to $250,000................................
$250,000 to $500,000................................

35,699
438,308
1,132,048

141
100
432

183
790
4,067

665
21,502
172,436

3,796
144,577
577,849

8,027
158,075
270,183

9,405
77,741
75,166

6,591
23,521
20,730

3,758
7,471
4,883

3,133
4,531
6,302

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

2,100,606
2,913,920
4,333,556

2,511
2,992
3,521

8,466
17,691
46,269

500,619
816,892
1,489,816

1,055,079
1,485,791
2,012,469

386,017
428,723
592,327

105,021
120,395
142,349

28,131
29,187
30,833

10,387
9,517
2,003

4,375
2,732
13,969

$5,000,000 to $10,000,000.......................
$10,000,000 to $50,000,000.....................
More than $50,000,000............................

3,379,020
7,879,749
28,763,750

37,698
232,957

1,357,380
4,709,756
20,268,300

1,531,763
2,270,132
7,263,602

314,363
423,180
794,701

80,326
157,547
103,452

27,727

15,660
59,239

14,108
26,938

333,695

Banks with 3-year average net cur­
rent operating earnings per $100
of total assets of—
$-0.50 or more............................................
$-0.01 to $ -0 .4 9 .........................................
$0.00
$0.50
$1.00
$1.50

to
to
to
to

For explanation of terms, method of adjustment, and banks included, see pages 74-76.

Back figures— For 1938 figures of banks grouped by fixed and substandard assets ratio, prepared on the basis of the original examination procedure, see the Annual Report
for 1938, p. 189.




banks

NOTE:

1,861

a n a l y s is

$10.00 to $14.99.........................................
$15.00 to $19.99.........................................
$20.00 to $24.99.........................................

insured

1,069
18,242
319,397

o
f

112,918

e x a m in e r s '

Banks with fixed and substandard
assets per $100 of appraised value
of assets of—
$0.00..............................................................
101,969
$0.01 to $ 4.9 9 .............................................
22,211,191
$5.00 to $ 9.99.............................................
18,805,495

348,121

$25.00
to
$29.99

-3
o\

EXAMINERS’ ANALYSIS OF INSURED COMMERCIAL BANKS NOT MEMBERS OF THE FEDERAL RESERVE SYSTEM
Table 136,

N et S ound C apital R atios

op

I nsured C ommercial B ank s N ot M embers
E xaminations 1933-1939

of the

F ederal R eserve System ,

h;
2?

BANKS GROUPED ACCORDING TO AMOUNT OF DEPOSITS
Banks with deposits of— 1
All
banks

$100,000
to
$250,000

$250,000
to
$500,000

$500,000
to
$1,000,000

$1,000,000
to
$2 ,000,000

$2,000,000
to
$5,000,000

$5,000,000 $10,000,000 More than
to
to
$50,000,000
$10,000,000 $50,000,000
(2)

NET SOUND CAPITAL PE R $100 OF:
$13.96
18.06
17.74
17.34

$10.42
14.95
15.06
14.50

$ 8.44
12.94
13.66
14.07

$ 7.90
13.06
13.86
14.04

$ 9.30
12.61
13.08
14.07

1937...............................................................
1938 original5...............................................
1938 uniform6..............................................
1939...............................................................

13.12
12.64
12.77
12.40

23.50
23.74
23.98
24.61

16.72
16.89
17.08
16.80

13.51
13.28
13.48
13.55

13.06
12.50
12.88
12.63

12.61
12.10
12.50
12.24

12.83
11.87
12.27
11.89

13.62
12.15
12.56
12.29

D ep osits
*1933................................................................
41934................................................................
1935................................................................
1936................................................................

11.15
15.80
16.58
17.09

31.82
34.46
33.52
31.59

17.18
22.51
21.87
21.21

12.17
17.94
17.96
17.09

9.80
15.19
16.05
16.57

9.17
15.41
16.39
16.58

10.62
14.84
15.36
16.59

1937................................................................
1938 original5...............................................
1938 uniform5..............................................
1939................................................................

15.33
14.64
14.81
14.30

31.30
31.70
32.13
33.10

20.29
20.54
20.82
20.28

15.72
15.39
15.66
15.75

15.17
14.38
14.89
14.54

14.56
13.90
14.43
14.06

T o t a l c a p ita l a c c o u n ts
31933...............................................................
<1934................................................................
1935................................................................
1936................................................................

45.12
67.17
76.51
90.92

68.99
80.63
83.80
85.77

60.11
81.11
87.54
92.65

52.06
77.29
86.40
95.17

40.73
70.13
82.76
94.54

1937...............................................................
1938 original5...............................................
1938 uniform5..............................................
1939...............................................................

92.25
87.78
88.83
90.69

87.52
88.08
89.27
91.62

91.83
91.50
92.71
94.16

94.73
91.32
92.90
94.46

93.17
87.90
90.98
93.14

$ 9.95
12.90
13.47
$14.22

$14.12

$ 2.56
6.15
10.22
12.56

12.57
12.53
12.41
11.37

10.72
10.82
9.12
9.68

11.52
15.13
16.10
17.29

16.91

2.64
6.64
11.47
14.58

14.85
13.59
14.11
13.58

16.17
13.99
14.53
14.17

14.92
14.67
14.51
13.14

12.18
12.35
10.22
10.82

37.71
67.33
77.16
90.62

42.34
62.69
71.80
89.28

44.00
61.53
69.38
87.49

86.20

19.57
43.90
66.17
97.12

90.51
85.36
88.58
90.26

90.59
83.70
86.89
88.98

86.81
83.44
86.65
90.97

94.09
86.54
85.60
85.88

101.50
106.94
88.47
93.16

1 Deposits are as of date of examination, except for 1934 and 1935, when deposits are as of December 31.
2 Because of the small number of banks, the figures for this group are not necessarily typical of banks with deposits of more than $50,000,000.
8 Examination for admission to insurance in late 1933 and early 1934.
4 Revised.
6 Results of all examinations made in 1938 were tabulated both on the basis of the original procedure and of the uniform procedure.

NOTE:
 For explanation of terms and method of adjustment, see pages 74-76.


CORPORATION

$22.77
25.07
24.66
23.78

INSURANCE

$ 9.62
13.38
13.98
14.38

DEPOSIT

A p p ra is ed va lu e o f assets
*1933...............................................................
<1934...............................................................
1935...............................................................
1936...............................................................

FEDERAL

$100,000
or
less

T able 137.

T otal A sset R atios

of

I nsured C ommercial B anks not M embers
E x a m i n a t i o n s 1933-1939

of the

F ederal R eserve System ,

b a n k s g r o u p e d a c c o r d i n g t o a m o u n t o f d e p o s it s

Banks with deposits of— 1
All
banks

$100,000
or
less

$100,000
to
$250,000

$250,000
to
$500,000

$500,000
to
$1,000,000

$1,000,000 $2 ,000,000 $5,000,000 $10,000,000 More than
to
to
to
to
$50,000,000
$2 ,000,000 $5,000,000 $10,000,000 $50,000,000
(2)

$10.47
6.73
4.11
1.42

$9.28
6.20
4.55
3.80

$8.48
4.69
2.46
1.36

$8.74
5.24
2.32
.73

$10.94
5.89
2.77
.81

$11.54
6.55
3.94
1.43

$11.24
7.57
4.88
1.66

$2.21

$9.51
8.11
4.97
.37

193 7
1938 original5....................................................................
1938 uniform5...................................................................
193 9

1.06
1.68
1.5,3
1.21

3.17
3.02
2.71
2.08

1.45
1.50
1.28
1.00

.80
1.21
.99
.76

.96
1.65
1.22
.89

1.28
2.01
1.56
1.28

1.29
2.23
1.79
1.42

1.95
2.32
1.86
1.18

.65
1.78
1.91
1.69

*.16
*.71
1.17
.69

Substandard assets (appraised value)
61933....................................................................................
61934................................................................................
71935....................................................................................
71936....................................................................................

19.62
16.21

81937........................................................................
1938 original5....................................................................
1938 uniform5...................................................................
193 9

15.62
12.37
12.75
10.47

17.80
13.38
13.94
11.83

14.95
11.93
12.33
9.57

13.75
10.32
10.68
8.63

14.84
11.31
11.75
9.09

15.72
12.25
12.68
10.36

16.88
13.56
14.00
11.59

18.63
14.84
15.24
11.36

16.90
14.17
14.42
12.95

10.91
8.27
8.51
6.48

79.03
83.60
83.35
86.09

83.60
86.57
86.39
89.43

85.45
88.47
88.33
90.61

84.20
87.04
87.03
90.02

83.00
85.74
85.76
88.36

81.83
84.21
84.21
86.99

79.42
82.84
82.90
87.46

82.45
84.05
83.67
85.36

89.25
92.44
90.32
92.83

83.32
85.95
85.72
88.32

1 Deposits are as of date of examination, except for 1934 and 1935, when deposits are as of December 81.
Because of the small number of banks, the figures for this group are not necessarily typical of banks with deposits of more than $50,000,000.
a Examination for admission to insurance in late 1933 and early 1934.
4 Examiners’ net additions to total assets.
®Results of all examinations made in 1938 were tabulated both on the basis of the original procedure and of the uniform procedure
• Figures not available.
7 Figures not available by size of bank.
8 Includes all fixed assets.
2

NOTE:

For explanation of terms and method of adjustment, see pages 74-76.




banks

76.27
82.37

insured

193 7
1938 original5...........................................................
1938 uniform5...................................................................
193 9

o
p

Assets not criticized (appraised value)
6193 3
6193 4
7193 5
7193 6

$11 .24
7 .89
5 .61
$1.99

e x a m i n e r s ’ an alysis

PER $100 OF BOOK v a l u e :
Examiners’ deductions (net) from assets
31933....................................................................................
193 4
193 5
193 6

T a b le 1 38.

LOAN RATIOS OP INSURED COMMERCIAL BANKS NOT MEMBERS OP THE FEDERAL RESERVE SYSTEM,
E x a m i n a t i o n s 1934-1939
BANKS GROUPED ACCORDING TO AMOUNT OF DEPOSITS
Banks with deposits of— 1
$100,000
or
less

$100,000
to
$250,000

$250,000
to
$500,000

$500,000
to
$1,000,000

$1,000,000
to
$2 ,000,000

$2 ,000,000
to
$5,000,000

$5,000,000 $10,000,000 More than
$50,000,000
to
to
$10,000,000 $50,000,000
(2
)

FEDERAL

All
banks

PER $100 OF BOOK v a l u e :

$6.08
4.64
3.55

$6 50
4.29
3.08

$6.41
4.48
3.35

$7.60
6.11
4.32

$8.86
7.79
5.19

$4.88

$6.31

$8.71
7.84
3.80

1937................................................................
1938 original3...............................................
1938 uniform3..............................................
1939................................................................

2.54
1.99
1.71
1.31

4.76
3.74
2.96
2.66

2.62
2 .C8
1.59
1.27

1.99
1.51
1.20
.90

2.11
1.70
1.40
.97

2.52
1.93
1.66
1.31

2.88
2.47
2.20
1.58

3.69
2.08
1.85
1.48

3.05
2.50
2.26
1.90

.91
.96
.91
.41

Substandard loans (appraised value)
1934................................................................
1935................................................................
1936................................................................

32.62
25.41
21.04

34.81
25.94
22.32

35.07
23.94
19.73

34.37
23.73
18.72

35.85
26.02
20.45

33.94
26.07
21.24

31.25
26.87
22.81

31.23
26.31
20.39

23.54

25.78
20.57
19.01

1937................................................................
1938 original3...............................................
1938 uniform3..............................................
1939................................................................

16.36
14.27
14.55
12.15

19.63
16.94
17.72
15.70

16.63
14.40
14.89
12.24

15.06
12.25
12.56
10.49

16.05
13.17
13.47
10.43

16.89
14.27
14.54
12.01

18.94
15.72
15.99
13.23

16.86
16.02
16.25
12.48

15.03
16.46
16.70
14.59

13.51
9.99
10.04
10.31

Loans not criticized (appraised value)
1934...............................................................
1935................................................................
1936................................................................

59.36
68.06
74.55

56,76
66.98
71.28

58.85
71.42
76.72

59.13
71.98
78.20

57.74
69.50
76.20

58.46
67.82
74.44

59.89
65.34
72.00

58 .85
65.18
74.73

70.15

65.51
71.59
77.19

1937................................................................
1938 original3...............................................
1938 uniform3..............................................
1939................................................................

81.10
83.74
83.74
86.54

75.61
79.32
79.32
81.64

80.75
83.52
83.52
86.49

82.95
86.24
86.24
88.61

81.84
85.13
85.13
88.60

80.59
83.80
83.80
86.68

78.18
81.81
81.81
85.19

79.45
81.90
81.90
86.04

81.92
81.04
81,04
83.51

85.58
89.05
89.05
89.28

$9.92
8.51

1 Deposits are as of date of examination, except for 1934 and 1935, when deposits are as of December 31.
2 Because of the small number of banks, the figures for this group are not necessarily typical of banks with deposits of more than $50,000,000.
3 Results of all examinations made in 1938 were tabulated both on the basis of the original procedure and of the uniform procedure.

NOTE:

For explanation of terms and method of adjustment, see pages 74-76.




CORPORATION

$8.43
7.08
6.40

INSURANCE

$8.02
6.53
4.41

DEPOSIT

Examiners’ deductions (net)
from loans
1934................................................................
1935................................................................
1936................................................................

Table 139.

A sset R atios

of

I nsured C ommercial B anks

not

M embers

of the

F ederal R eserve System E x am in ed

in

1939

BANKS GROUPED ACCORDING TO AMOUNT OF DEPOSITS
Banks with deposits of—

Number of ban k s...................................

$100,000
or
less

$100,000
to
$250,000

$250,000
to
$500,000

$500,000
to
$1,000,000

$1,000,000
to
$2 ,000,000

$2 ,000,000
to
$5,000,000

$5,000,000 j $10,000,000 More than
to
to
$50,000,000
$10,000,000 $50,000,000
0)

451

2,030

1,995

1,409

776

390

79

61

5

$100.00
1.21
98.79
10.47
88.32

$100.00
2.08
97.92
11.83
86.09

$100.00
1.00
99.00
9.57
89.43

$100.00
.76
99.24
8.63
90.61

$100.00
.89
99.11
9.09
90.02

$100.00
1.28
98.72
10.36
88.36

$100.00
1.42
98.58
11.59
86.99

$100.00
1.18
98.82
11.36
87.46

$100.00
1.69
98.31
12.95
85.36

$100.00
.69
99.31
6.48
92.83

PER $100 OF BOOK V A LU E :
T o t a l a s s e ts ....................................................
Examiners' deductions (n e t)...................
Appraised va lu e .........................................
Substandard.............................................
Not criticized...........................................

100.00

100.00

100.00

100.00

100.00

100.00

100.00

100.00

100.00
.70
99.30
11.36
87.94

100.00
.58
99.42
11.89
87.53

100.00
.82
99.18
10.70
88.48

100.00
1.11
98.89
11.14
87.75

100.00
1.27
98.73
11.13
87.60

100.00
1.48
98.52
11.47
87.05

100.00
1.35
98.65
11.62
87.03

100.00
.54
99.46
9.23
90.23

100.00
.72
99.28
3.14
96.14

L o a n s ................................................................
Examiners’ deductions (n e t)...................
Appraised va lu e .........................................
Substandard.............................................
Not criticized...........................................

100.00
1.31
98.69
12.15
86.54

100.00
2.66
97.34
15.70
81.64

100.00
1.27
98.73
12.24
86.49

100.00
.90
99.10
10.49
88.61

100.00
.97
99.03
10.43
88.60

100.00
1.31
98.69
12.01
86.68

100.00
1.58
98.42
13.23
85.19

100.00
1.48
98.52
12.48
86.04

100.00
1.90
98.10
14-59
83.51

100.00
.41
99.59
10.31
89.28

F ixed a n d m is c e lla n e o u s a s s e t s .........
Examiners’ deductions (n et)...................
Appraised va lu e .........................................
Substandard.............................................
Not criticized...........................................

100.00
7.18
92.82
48.64
44-18

100.00
11.45
88.55
38.25
50.30

100.00
8.14
91.86
33.88
57.98

100.00
4.70
95.30
36.96
58.34

100.00
4.60
95.40
40.89
54.51

100.00
8.02
91.98
46.32
45.66

100.00
6.17
93.83
52.75
41.08

100.00
3.47
96.53
50.75
45.78

100.00
9.60
90.40
52.98
37.42

100.00
7.42
92.58
54.30
38.28

banks

100.00

100.00
1.03
98.97
10.13
88.84

insured

100.00

S e c u r it ie s ........................................................
Examiners’ deductions (n e t)...................
Appraised va lu e .........................................
Substandard.............................................
Not criticized...........................................

o
f

C ash a n d d u e fr o m b a n k s ......................

a n a l y s is

7,196

e x a m in e r s '

All
banks

1 Because of the small number of banks, the figures for this group are not necessarily typical of banks with deposits of more than $50,000,000.
NOTE:

For explanation of terms, method of adjustment, and banks included, see pages 74-76.




CD

EARNINGS OF INSURED COMMERCIAL BANKS
Table 140.

EARNINGS, EXPENSES, AND DIVIDENDS OF INSURED COMMERCIAL BAN K S,

Amounts per $100 of total assets1

Amounts in thousands of dollars
1935
Num ber of banks2.......................................................

14,110

N et c u r r e n t o p e r a tin g e a r n in g s ....................................

402,311

1938

1939

13,523

14,110

13,783

13,645

13,523

703,672
531,472

725,671
521,340

$1.33
1.14

$1.24
1.07

$1.29
1.04

$1.28
.96

$1.22
.87

110,600
240,498
1,631,367

114,797
232,159
1,582,100

121,123
235,273
1,603,407

.19
.42
3.08

.20
.41
2.92

.20
.44
2.97

.21
.42
2.87

.20
.39
2.68

236,830
1,624
[ 10,345
; 177,117
i 249,162
95,113

235,031
1,333
11,225
186,763
264,794
102,615

229,313
926
11,706
191,706
269,561
98,870

214,952
622
12,163
196,183
274,566
102,168

$0.54
.01

.16

$0.44
.00
( .02
.33
-47
.18

$0.43
.00
.02
.34
.48
.19

$0.42
.00
.02
.35
.49
.18

$0.36
.00
.02
.33
.46
.17

52,196
299,118
1,121,505

51,382
307,160
1,160,303

56,332
294,421
1,152,835

53,504
299,417
1,153,575

.08
.60
2.24

.09
.56
2.09

.09
.56
2.11

.10
.53
2.09

.09
.50
1.93

442,185

471,064

429,265

449,832

$0.84

$0.83

$0.86

$0.78

$0.75

(5
)

$0.36

13,956

13,783

661,574
573,472

708,656
571,613

104,696
223,948
1,563,690

1939

.85

I

1

267,674

117,194

172,795

214,835

$0.50

$0.21

$0.31

81,675

110,403

89,812

56,360

65,553

$0.17

.21

.16

.10

.11

315,937

174,970

57,898

61,558

66,473

.66

.33

.11

.11

.11

34,445
432,057

31,404
584,451

43,819
308,723

38,376
329,089

34,133
380,994

.07
.90

.05
1.09

.08
.56

.07
.59

.06
.64

N et ea rn in g s, p rofits a n d recoveries o n assets, e t c . .

834,368

1,026,636

779,787

758,354

830,826

$1.74

$1.92

$1.42

$1.37

$1.39

L osses, c h a r g e -o ffs, a n d a d d itio n s to v a lu a tio n
a llo w a n c e s :
On loans.................................................................................
On securities.........................................................................
All other losses, charge-offs, and additions to valua­
tion allowances............................................................
T o t a l losses, ch a r g e -o ffs, e t c ...................................

318,271
239,053

249,756
154,574

141,448
176,373

149,994
221,738

136,096
215,067

$0.66
.50

$0.47
.29

$0.26
.32

$0.27
.40

$0.23
.35

70,125
627,449

96,485
500,815

77,067
394,888

82,489
454,221

86,928
438,091

.15
1.31

.18
.94

.14
.72

.15
.82

.15
.73




(5)

CORPORATION

P rofits o n assets sold o r ex c h a n g e d , recoveries,
a n d r e d u c tio n s in v a lu a tio n a llo w a n ce s :
Profits on securities sold or exchanged..........................
Recoveries and reductions in valuation allowances on
loa n s...............................................................................
Recoveries and reductions in valuation allowances on
securities........................................................................
All other recoveries, profits on assets sold, and re­
ductions in valuation allow ances............................
T o t a l p ro fits o n assets s o ld , recoveries, e t c . . . .

1937

13,956

13,645

INSURANCE

J

1936

1938

DEPOSIT

C u rre n t o p e r a t in g exp en ses:
261,667
Interest on time and savings deposits............................
Interest and discount on borrow ings..............................
2,642
Directors’ and professional fe e s .......................................
Officers’ salaries....................................................................
410,084
Employees’ salaries and wages.........................................
Taxes3......................................................................................
79,047
Other expenses of occupancy and maintenance of
banking quarters4........................................................
39,815
Other current operating expenses....................................
287,435
T o t a l c u r r e n t o p e r a tin g e x p e n se s ........................ 1,080,690

1935

1937

1936

FEDERAL

C u rre n t o p e r a tin g e a rn in g s:
Interest and discount on loans.........................................
641,737
Interest and dividends on securities..............................
547,108
Commissions, fees, and collection, exchange, and
service charges.............................................................
89,668
Other current operating earnings....................................
204,488
G ross c u r r e n t o p e r a tin g e a r n in g s ........................ 1,483,001

1935-1939

N et p rofits b e fo r e in c o m e taxes a n d d ivid en d s6. . .
Federal and State taxes on net incom e7 ...........................
N et p rofits a fte r in c o m e ta x e s .......................................
C ash d iv id e n d s d e cla re d a n d in te re s t p aid on
c a p ita l:
Interest paid on capital notes and debentures and
dividends declared on preferred stock ..................
Dividends declared on common ca p ita l........................
T o t a l ca s h d iv id e n d s d ecla red a n d in terest
p a id o n c a p i t a l .........................................................
N et p rofits a fte r d iv id e n d s ..............................

.43

$0.98
.00
.98

$0.70
.01
.69

$0.55 1
.01 I
.54

$0.66
.01
.65

18,426
213,655

$0.07
.36

$0.06
.36

$0.04
.37

$0.03
.37

$0.03
.36

232,081

.43

.42

.41

.40

.39

$0.56

$0.28

$0.14

$0.26

384,899
4,848
380,051

304,133
4,344
299,789

392,735
4,641
388,094

$0.43

206.919

525,821
2,442
523,379

33,242
174,075

34,465
188,743

24,164
201,260

19,407
202,497

207,317

223,208

225,424

221,904

-398
(8)
(8
)

300,171

154,627

77,885

156,013

52,221
180,499

53,164
188,106

54,007
186,882

54,649
191,321

$0.00

Minus ( -) indicates net loss.

Back figures— 1934:

see the Annual Report for 1938; p. 212.

BANKS

181




INSURED

N OTE:

O
F

1 Averages of figures for beginning, middle, and end of year. See page 77.
2 Excludes the following insured banks not members of the Federal Reserve System: 16 for 1935; 17 for 1936; 14 for 1937; 16 for 1938; and 15 for 1939. For additional
exclusions and duplications, see pages 76-77.
3 Except for 1935, excludes “ income taxes” paid by banks not members of the Federal Reserve System.
4 Includes extraordinary “ depreciation on banking house, furniture and fixtures” for banks members of the Federal Reserve System, and in 1935 for banks not members of
the Federal Reserve System. See pages 77-78.
5 Included with recoveries.
6 After paym ent of “ income taxes” for banks members of the Federal Reserve System, and in 1935 for banks not members of the Federal Reserve System.
7 “ Incom e taxes” available for banks not members of the Federal Reserve System only. See footnote 3.
8 N ot available.

EARNINGS

Number of active officers, December 31 ..............
Number of other employees, December 3 1 .........

206.919

12
8

T a b le 141.

EARNINGS, EXPENSES, AND DIVIDENDS OF INSURED COMMERCIAL BANKS, 1939

BY CLASS OF BANK
(Amounts in thousands of dollars)
Banks members
F. R . System

State

j

Operating
less than
full year1
74

162,557
75,245
34,157
29,306

2,654
1,950
526
1,156

301,265

6,286

54,480
452
4,526
45,279
35,801
16,219
15,184
43,601

5,187

1,175

7,161

725,671
521,340
121,123
235,273

1,603,407

386,134
297,084
59,540
103,316
846,074

174,326
147.061
26,900
101,495
449,782

165,211
77,195
34,683
30,462
307,551

214,952
622
12,163
196,183
274,566
102,168
53,504
299,417

113,874
100
5,316
100,447
145,721.
54,332
27,855
159,992

55,858
457
4,625
46,039
36,778
16,738
15,521
44,821

Total current operating expenses.......................................................................................

1,153,575

607,637

45,220
65
2,222
49,697
92,067
31,098
10,128
94,604
325,101

220,837

215,542

1,378
5
99
760
977
519
337
1,220
5,295

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

449,832

238,437

124,681

86,714

85,723

991

214,835
65,553
66,473
34,133

124,473
39,728
33,628
12,479

65,268
14,889
22,475
13,615

25,094
10,936
10,370
8,039

23,597
10,770
9,996
7,648

1,497
166
374
391

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......................................................................................
Current operating expenses:
Interest and discount on borrowings......................................................................................................
Officers’ salaries................................................................................................................................................
Employees’ salaries and wages..................................................................................................................
Other expenses of occupancy and maintenance of banking quarters4.....................................
Other current operating expenses............................................................................................................

Profits on assets sold or exchanged, recoveries, and reductions in valuation
allowances:
Recoveries and reductions in valuation allowances on loans.......................................................
Recoveries and reductions in valuation allowances on securities..............................................
All other recoveries, profits on assets sold, and reductions in valuation allowances.. ..

!
|
j!
!!
j|
ji

i

Total profits on assets sold, recoveries, etc....................................................................

380,994

210,308

116,247

54,439

52,011

2,428

Net earnings, profits and recoveries on assets, etc..............................................................

830,826

448,745

240,928

141,153

137,734

3,419

All other losses, charge-offs, and additions to valuation allowances.......................................

136,096
215,067
86,928

66,983
109,002
22,058

41,154
70,564
32,435

27,959
35,501
32,435

25,336
32,903
24,610

2,623
2,598
7,825

Total losses, charge-offs, etc..................................................................................................

438,091

198,043

144,153

95,895

82,849

13,046

Losses, charge-offs, and additions to valuation allowances:




CORPORATION

13,523

INSURANCE

Operating
throughout
the year
7,087

Total

DEPOSIT

National

Banks not members F . R . System

FEDERAL

Ail
insured
banks

Net profits before incom e taxes and dividends5................................................................
Federal and State taxes on net in com e..................................................................................
Net profits after incom e taxes...............................................................

392,735
64,641
388,094

250.702
(6
)
250.702

96.775
(6)
96.775

45,258
4,641
40,617

54,885
4,620
50,265

-9,627
21
-9,648

Cash dividends declared and interest paid on capital:
Interest paid on capital notes and debentures and dividends declared on preferred stock
Dividends declared on com m on ca p ita l...................................................................................
Total cash dividends declared and interest paid on capital..............

18,426
213,655
232,081

8,905
121,941
130,846

4,774
71,406
76,180

4,747
20,308
25,055

4,669
20,121
24,790

78
187
265

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

156,013

119,856

20,595

15,562

25,475

-9,913

54,649
191,321

25,617
99,246

8,555
58,894

20,477
33,181

20,202
32,386

275
795

Number of active officers, December 30, 1939 .....................................................
Number of other employees, December 30, 1939 ...........................

NOTE:

8 State ^
See page 77.

ta the

EARNINGS

D is t r i^ o f Columbia; and” ^
1 natt° n81 b“ k ln
3 Excludes “ income taxes’* paid by banks not members of the Federal Reserve System.’
! IA ? udeS extraor(Jinary “ depreciation on banking house, furniture and fixtures” for banks members of the Federal Reserve System.
Ii
5 Alter paym ent of income taxes for banks members of the Federal Reserve System. See footnote 3.
Incom e taxes” available for banks not members of the Federal Reserve System only. See footnote 3.
Minus (-) indicates net loss.

INSURED
BANKS




1938, p. 214; 1937, p. 141 and p. 144; 1936, p. 165; 1935, p. 198.

O
F

Back figures— See Table 137, and the following Annual Reports:

00
CO

Table 142.

DISTRIBUTION OF INSURED COMMERCIAL BANKS ACCORDING TO RATE OF NET EARNINGS, 1939
BANKS GROUPED BY AMOUNT OF DEPOSITS, POPULATION OF CENTER IN WHICH LOCATED, AND
NUMBER OF COMMERCIAL BANKING OFFICES IN CENTER IN WHICH LOCATED
All
banks

™

Banks with net current operating earnings per $100 of total assets of— 1
$ -0.01
to $-0.49

$-0.50
or more

$0.00
to $0.49

$0.50
to $0.99

$1.00
to $1.49

$1.50
to $1.99

$2.00
to $2.49

$2.50
to $2.99

$3.00
or more

25

111

925

3,634

4,471

2,488

1,032

394

259

458
2,429
3,064

5
o
5

12
25
27

42
146
184

84
454
666

104
661
991

82
563
695

60
321
309

34
154
120

35
100
67

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

2,874
2,101
1,421

5
3
2

15
17
9

166
153
100

733
642
555

1,051
805
559

580
359
166

225
90
22

57
19
8

42
13

4
2

59
48
27

218
208
74

172
106
22

30
11
2

3
2

2

B an k s in c e n te r s w ith p o p u la t io n o f —
Less than 2 5 0 ........................................................................
250 to 500 ..............................................................................
500 to 1,000...........................................................................

650
1,603
2,323

!
3 S
1 j
3 !

8
10
19

46
95
130

140
347
524

190
491
727

144
347
539

82
184
233

26
79
95

11
49
53

1,000 to 2 ,5 0 0 .......................................................................
2,500 to 5 ,0 0 0 .......................................................................
5,000 to 10,0 00 .....................................................................

2.934
1,718
1,308

5
5
2

25
10
16

182
104
91

614
457
392

1,039
633
473

632
322
229

285
116
65

99
42
28

53
29
12

10,000 to 2 5 ,0 0 0 .................................................................. i
25,000 to 50,000...................................................................
50,000 or m ore..................................................................... s

1,126
496
1,181

3
3

10
3
10

88
39
150

411
211
538

426
180
312

136
48
91

28
8
31

8
3
14

16
4
32

B an k s in c e n te r s w ith —
1 banking office.................................................................... 2 banking offices.................................................................. |
3 banking offices..................................................................

6,991
3,601
1,087

10
9
4

56
33
7

406
253
76

1,545
1,007
374

2,282
1,305
392

1,508
659
167

736
228
27

279
75
21

169
32
19

4 banking offices.................................................................. 1
i
5 banking offices
6 banking offices
....
.............
............... 1

893
193
140

i
i

4
1
2

32
12
18

149
83
62

140
71
40

51
19
8

7
4
2

2
1
2

8
2
6

7 or 8 banking offices..........................................................
9 to 19 banking offices........................................................
20 or more banking offices.................................................

152
292
490

!

3

!

5

14
37
77

65
114
235

41
88
112

19
28
29

5
11
12

1
4
9

6
7
10

1
1

2

1 Asset and liability items are averages of figures for four call dates for banks members of the Federal Reserve System and of figures for three call dates for banks not
members of the Federal Reserve System. See page 77.
2 For explanation of banks included, see pages 76-77.




CORPORATION

488
379
125

.

INSURANCE

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

$5 000 000 to $10,000 000
$10 000 000 to $50 000 000
More than $50 000 000

DEPOSIT

13,339

w ith d e p o sits o f — 1
or less....................................................................
to $250,000..........................................................
to $500,000..........................................................

Banks
$100,000
$100,000
$250,000

FEDERAL

A ll b a n k s 2................................................................................

Table 143.

DISTRIBUTION OF INSURED COMMERCIAL BANKS ACCORDING TO RATE OF NET PROFITS, 1939
BANKS GROUPED BY AMOUNT OF DEPOSITS, POPULATION OF CENTER IN WHICH LOCATED, AND
NUMBER OF COMMERCIAL BANKING OFFICES IN CENTER IN WHICH LOCATED
Banks with net profits before dividends per $100 of total assets of— 1
All
banks

$ -2.00
or more

$ -1.00
to $-1.99

$-0.50
to $-0.99

$ -0.01
to $-0.49

$0.00
to $0.49

$0.50
to $0.99

$1.00
to $1.49

$1.50
to $1.99

$2.00
to $2.49

$2.50
to $2.99

$3.00
or more

242

647

1,962

3,857

3,424

1,660

727

275

202

458
2,429
3,064

14
34
28

12
53
43

15
53
51

48
143
125

76
308
409

85
554
774

73
548
794

61
373
481

37
197
224

11
97
82

26
69
53

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

2,874
2,101
1,421

24
27
12

36
26
21

63
26
26

140
99
59

374
318
247

788
664
555

811
622
359

389
214
105

160
72
22

60
16
8

29
17
7

$5,000,000 to $10,000,000..................................
$10,000,000 to $50,000,000................................
More than $50,000,000.......................................

488
379
125

3
3

5
1
1

5
2
1

19
11
3

119
72
39

192
181
64

115
87
15

22
13
2

8
7

1

1

B an k s in ce n te r s w ith p o p u la tio n o f —
Less than 2 5 0 ........................................................
250 to 5 00 ...............................................................
500 to 1,000..........................................................

650
1,603
2,323

16
22
30

14
26
35

18
34
33

42
91
107

96
224
314

159
397
619

150
382
571

94
223
331

41
113
170

8
54
65

12
37
48

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

2 934
1,718
1,308

26
17
11

48
17
20

60
33
20

132
82
66

374
219
178

709
506
400

805
480
380

462
219
153

209
89
51

71
35
18

38
21
11

10,000 to 2 5,0 00 ..................................................
25,000 to 50,000...................................................
50,000 or m o r e ......................................................

1,126
496
1,181

10
4
9

16
6
16

20
5
19

51
24
52

209
102
246

396
179
492

297
128
231

83
26
69

20
13
21

10
4
10

14
5
16

B an k s in
1 banking
2 banking
3 banking

ce n te r s w ith —
office.....................................................
offices...................................................
offices...................................................

6,991
3,601
1,087

92
27
12

114
45
11

142
54
23

364
151
44

938
517
167

1,763
1,080
369

1,754
1,025
294

1,015
446
100

488
168
37

185
58
17

136
30
13

4 banking offices...................................................
5 banking offices...................................................
6 banking offices...................................................

393
193
140

3
2
2

10
2
4

4
1
2

21
9
5

66
38
25

149
80
56

99
42
30

25
13
9

8
3
1

2
2
2

6
1
4

7 or 8 banking offices...........................................
9 to 19 banking offices........................................
20 or more banking offices.................................

152
292
490

1
3
3

1
3
8

1
4 I
11 !

58
112 |
190

32
67
81

9
17
26

2
9
11

1
4
4

4
2
6

9
11
33 !

34
60
117

1 Asset and liability items are averages of figures for four call dates for banks members of the Federal Reserve System and of figures for three call dates for banks i.ot
members of the Federal Reserve System. See page 77.
2 For explanation of banks included, see pages 76-77.




BANKS

198

INSURED

145

O
F

13,339

B a n k s w it h d e p o s it o f — 1
$100,000 or less.....................................................
$100,000 to $250,000...........................................
$250,000 to $500,000...........................................

EARNINGS

A ll b a n k s2..................................................................

16
8
D ISTR IB U TIO N OF IN SU RED COMMERCIAL B AN K S ACCORDING TO R A T E OF N E T EARN ING S AND BY R A T E OF N E T PR OFITS, 1939

FEDERAL

T a b le 144.

Banks with net current operating earnings per $100 of total assets of- 1
—
$-0.50
or more

$ - 0.01
to $ 0.49

$0.00
to $0.49

$0.50
to $0.99

$1.00
to $1.49

$1.50
to $1.99

$2.00
to $2.49

$2.50
to $2.99

$3.00
or more

25

111

925

3,633

4,471

2,488

1,033

394

259

1,232
12,107

19
6

52
59

188
737

428
3,205

347
4,124

143
2,345

37
996

13
381

5
254

145
198

5
5

10
6

11
29

53
61

41
58

18
27

4
7

2
2

1
3

242
647

5
4

10
26

45
103

79
235

75
173

19
79

8
18

1
8

1

$0.00 to $ 0.4 9 .......................................................................
$0.50 to $ 0.9 9 .......................................................................
$1.00 to $ 1.4 9 .......................................................................

1,962
3,857
3,424

1
2
1

35
9
12

378
243
88

793
1,653
572

513
1,426
1,644

176
393
843

52
93
207

6
28
44

8
10
13

$1.50 to $ 1.9 9 .......................................................................
$2.00 to $ 2.4 9 .......................................................................

1,660
727

1

1
2

22
3

122
41

390
100

680
183

331
226

85
126

28
46

$2.50 to $2.99
.......................
................................
$3.00 or m o re ........................................................................

275
202

1
2

9
15

32
19

41
29

53
34

69
23

70
79

B an k s
$100
$ - 2.00 or
$-1.00 to

w ith n e t p rofits b e fo re d iv id e n d s p er
o f t o ta l assets o f — 1
m o re .....................................................................
$ -1 .9 9 ...................................................................

$-0.50 to $ -0 .9 9 ..................................................................
$-0.01 to $ -0 .4 9 ..................................................................

1

1 Total assets are averages of figures for four call dates for banks members of the Federal Reserve System and of figures for three call dates for banks not members of the
Federal Reserve System. See page 77.
2 For explanation of banks included, see pages 76-77.




CORPORATION

13,339

B an k s w ith losses— t o t a l ..................................
B an k s w ith p r o fits — t o t a l ................................

INSURANCE

All b a n k s 2.................................................................................

DEPOSIT

All
banks

T able 145.

D IS T R IB U T IO N OF INSURED COMMERCIAL B A N K S ACCORDING TO R A T E OF N E T E ARN IN G S AND BY R A T E OF iNCOMEl
o n L o a n s a n d R a t i o o f L o a n s t o T o t a l A s s e t s , 1939

All
banks

$ -0.01
to $-0.49

$0.00
to $0.49

$0.50
to $0.99

$1.00
to $1.49

$1.50
to $1.99

$2.00
to $2.49

$2.50
to $2.99

$3.00
or more

920

3,625

4,467

2,485

1,032

393

259

367
1,369
4,283

5
Q
O
7

12
20
25

89
188
301

188
606
1,458

59
442
1,707

9
89
615

4
16
135

1
3
29

2
6

$6.00 to $ 6 .9 9 .............................................
$7.00 to $ 7.99.............................................
$8.00 to $ 8.9 9 .............................................

3,521
1,750
923

5
1
2

24
15
8

205
70
31

859
304
124

1,303
535
212

798
468
256

259
239
164

55
92
74

13
26
52

$9.00 to $9.99................................................
$10.00 to $10.99...........................................

472
257

1

3
1

11
7
(

40
15

104
47

137
56

90
51

42.
41

44
39

$11.00 to $11.99.................................................
$12.00 or m ore..............................................

158
217

1

1
2

7
11

15
16

28
30

25
32

32
42

25
31

24
53

Banks with loans per $100 of total assets of— 1
Less than $10.00.....................................................
$10.00 to $19 99
$20.00 to $29.99.................................................

150
1,163
2,526

2
r
r
(
5

7
27
28

41
200
287

68
518
1,002

26
300
849

5
83
258

1
20
67

3
21

5
9

$30.00 to $39.99.........................................
$40.00 to $49.99..................................................
$50.00 to $59.99.............................................

3,291
3,066
1,930

6
2
2

29
9
8

200
110
65

992
674
283

1,232
1,142
628

577
694
520

172
280
262

58
99
102.

25
56
60

852
283
56

1

2

14
Q
O

72
15
1
1

235
48
7

249
87
12

166
57
7

71
30
9

42.
42
20

$60.00 to $69.99..............................
$70.00 to $ 79 .99 .........................................
$80.00 or m o re ............................................

5 ^ lvcDci S J t e m
r
e
^
dat9S f° r bEnkS members of the Federal Reserve System and of figures for three call dates for banks not members of the
ciai e U ^ ? vevoyaiAsin.e r Se8 n L p ^(T 88 ^ ^
oee page i.
---------2 Excludes 22 cash depositories. For explanation of banks included, see pages 76-77.
3 Incom e on loans consists of interest and discount on loans and renewal, mortgage, and other fees charged in connection with loans owned by the bank..




BANKS

111

INSURED

25

O
P

13,317

Banks with incom e on loans3 per $100 of total
loans of— 1
Less than $4.00...........................................
$4.00 to $4.99
$5.00 to $ 5 .9 9 .....................................

EARNINGS

All banks2...............................................

Banks with net current operating earnings per $100 of total assets of— i
$-0.50
or more

2^

Table 146.

DISTRIBUTION OF INSURED COMMERCIAL BANKS ACCORDING TO RATE OF INTEREST PAID ON TlME AND SAVINGS DEPOSITS, 1939
BANKS GROUPED B Y RATE OF NET EARNINGS, RATE OF INCOME ON LOANS, AND RATIO OF LOANS TO TOTAL ASSETS
All
banks

Banks with
no time
and savings
deposits

Banks paying interest per $100 of time and savings deposits of— 1
$2.00
or
more

$1.50
to
$1.99

$1.00
to
$1.49

$0.50
to
$0.99

Less than
$0.50

2,182

5,627

4,277

25
111

3
6

3

3
10

6
21

8
31

5
40

920
3,626
4,467
2,485

23
71
106
90

20
40
43
28

92
241
215
93

205
822
702
281

370
1,544
1,987
1,066

210
908
1,414
927

1,031
393
259

48
22
18

7
7
3

28
7
4

83
36
26

410
135
76

455
186
132

$4.00 to $ 4 .9 9 ............................................................................................................
$5.00 to $ 5 .9 9 ............................................................................................................

367
1,369
4,283

9
18
61

26
14
20

93
153
239

148
481
839

70
514
2,099

21
189
1,025

$6.00 to $ 6 .9 9 ............................................................................................................
$7.00 to $ 7 .9 9 ............................................................................................................
$8.00 to $ 8 .9 9 ............................................................................................................

3,521
1,750
923

70
60
53

29
20
15

117
52
15

425
133
72

1,653
679
305

1,227
806
463

$9.00 to $ 9 .9 9 ............................................................................................................
$10.00 to $10 .99 ........................................................................................................

472
257

43
26

11
10

7
10

30
21

151
62

230
128

$11.00 to $ 11 .99 ........................................................................................................

158
217

27
20

1
5

3
4

13
20

33
61

81
107

150
1,163
2,526

6
43
90

9
34
40

23
149
198

52
360
646

41
411
1,072

19
166
480

3,291
3,066
1,930

94
93
37

26
18
18

172
100
38

569
366
135

1,504
1,360
815

926
1,129
887

852
283
56

22
2

5

9
4

42
9
3

319
87
18

455
181
34

Banks with net current operating earnings per $100 of total
assets of— 1
$-0.01 to $ 0 .4 9 ........................................................................................................
$0.00 to $ 0.4 9 ............................................................................................................
$1.00 to $ 1 .4 9 ............................................................................................................
$1.50 to $ 1 .9 9 ............................................................................................................
$2.00 to $ 2 .4 9 ............................................................................................................
$2.50 to $ 2 .9 9 ............................................................................................................
Banks with incom e on loans3 per $100 of total loans of— 1

Banks with loans per $100 of total assets of— 1
$10.00 to $ 19.99........................................................................................................

$40.00 to $49 .99 ........................................................................................................
$50.00 to $59 .99 ........................................................................................................
$60.00 to $69 .99 ........................................................................................................
$70 00 to $79 99
............................................
$530 00 nr rtinrp

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

1

1Asset and liability items are averages of figures for four call dates for banks members of the Federal Reserve System and of figures for three call dates for banks not

Digitized formembers of the Federal Reserve System. See page 77.
FRASER
2 Excludes 22 cash depositories. For explanation of banks included, see pages 76-77.
http://fraser.stlouisfed.org/ loans consists of interest and discount on loans and renewal, mortgage, and other
3 Incom e on
Federal Reserve Bank of St. Louis

fees charged m connection with loans owned by the bank.

CORPORATION

693

INSURANCE

151

DEPOSIT

387

FEDERAL

13,317

T a b l e 147.

DISTRIBUTION OF INSURED COMMERCIAL BANKS ACCORDING TO RATE OF INTEREST PAID ON TlME AND SAVINGS DEPOSITS, 1939
BANKS GROUPED BY RATIO OF TIME AND SAVINGS DEPOSITS TO TOTAL DEPOSITS, AMOUNT OF DEPOSITS,
AND POPULATION OF CENTER IN WHICH LOCATED

All
banks

Banks with
no time
and savings
deposits

Banks paying interest per $100 of time and savings deposits of— 1
Less than
$0.50

$0.50
to $0.99

$1.00
to $1.49

$1.50
to $1.99

$2.00
or more

2,182

5,627

4,277

1,147
1,201
1,684

409

125
14
4

96
132
106

132
214
269

152
453
741

233
388
564

$30 00 to $39 99
$40 00 to $49 99
$50 00 to $59.99

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

1,866
1,961
2,123

3
1
1

89
99
91

249
311
393

806
855
926

719
695
712

$60 00 to $69 99
.............................................................................................
$70 00 to $79 .99 ........................................................................................................
$80 00 or more ........................................................................................................

1,898
1,069
390

2
1

54
21
5

370
194
50

929
560
205

545
292
129

B a n k s w ith d e p o sits o f — 1
$100,000 or less.........................................................................................................
$100,000 to $250,000...............................................................................................
$250,000 to $500,000...............................................................................................

458
2,429
3,064

54
128
120

9
24
36

9
53
69

30
147
260

130
894
1,311

226
1,183
1,268

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

2,874
2,101
1,421

68
33
4

33
12
12

116
125
154

371
480
430

1,351
997
655

935
454
166

$5,000,000 to $10,000,000......................................................................................
$10,000,000 to $50,000,000....................................................................................
More than $50,000,000...........................................................................................

488
379
125

1
1

2
10
13

71
64
32

212
185
67

167
109
13

35
10

B a n k s in ce n te r s w ith p o p u la t io n o f —
Less than 2 5 0 .............................................................................................................
250 to 5 0 0 ...................................................................................................................
500 to 1,000................................................................................................................

650
1,603
2,323

10
58
99

2
10
17

14
29
43

41
84
182

240
656
964

343
766
1,018

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

2,934
1,718
1,308

133
56
39

38
30
14

86
62
90

302
280
286

1,266
773
634

1,109
517
245

10,000 to 2 5 ,0 00 ........................................................................................................
25,000 to 50,0 00 ........................................................................................................
50,000 or m o re ...........................................................................................................

1,126
496
1,181

10
2
2

12
1
27

90
75
204

309
172
526

551
203
340

154
43
82

1 Liability items are averages of figures for four call dates for banks members of the Federal Reserve System and of figures for three call dates for banks not members
of the Federal Reserve System. See page 77.
2 For explanation of banks included, see pages 76-77.




189

693

BANKS

151

INSURED

409

O
F

13,339

B an k s w ith t im e a n d sav in gs d e p o sits per $100 o f to ta l d ep osits
o f—1
Less than $10.00.......................................................................................................
$10 00 to $19.99
...................................................................................................
$20 00 to $29.99
...................................................................................................

EARNINGS

A ll b a n k s 2......................................................................................................................

EARNINGS OF INSURED BANKS NOT MEMBERS OF THE FEDERAL RESERVE SYSTEM
T a b le 148.

EARNINGS, EXPENSES, AND DISPOSITION OF PROFITS OF INSURED COMMERCIAL BANKS NOT MEMBERS OF THE
F e d e r a l R e s e r v e S y s t e m , 1935-1939

^
o

Amounts in thousands of dollars
21935
N um ber of banks3.......................................................

1937

1938

Amounts per $100 of total assets1
1939

1935

1936

1937

1938

1939

7,580

7,442

7,307

7,161

7,723

7,580

7,442

7,307

7,161

143,319
79,894

148,170
86,365

156,093
90,803

159,967
83,336

165,211
77,195

$2.21
1.23

$2.13
1.24

$2.14
1.24

$2.21
1.15

$2.23
1.04

25,201
27,927
276,341

33,877
24,357
292,769

33,126
30,080
310,102

33,803
30,640
307,746

34,683
30,462
307,551

.39
.43
4.26

.49
.35
4.21

.45
.41
4.24

.47
.42
4.25

.47
.41
4.15

61,664
1,017
4,067
41,616
32,949
13,961

60,582
757
4,300
43,945
35,467
16,422

58,719
639
4,472
45,215
36,146
16,578

55,858
457
4,625
46,039
36,778
16,738

$1.06
.02
.07
.62
.47
.24

$0.89
.02
.06
.60
.47
.20

$0.83
.01
.05
.60
.49
.22

$0.81
.01
.06
.63
.50
.23

$0.75
.01
.06
.62
.50
.23

6,222
47,435
214,568

13,475
41,914
210,663

14,514
45,033
221,020

14,235
44,698
220,702

15,521
44,821
220,837

.09
.73
3.30

.19
.60
3.03

.20
.62
3.02

.20
.61
3.05

.21
.60
2.98

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

61,773

82,106

89,082

87,044

86,714

$0.96

$1.18

$1.22

$1.20

$1.17

36,975
1,524

18,244
2,076

20,218
1,309

25,094
1,236

$0.53
.02

$0.25
.03

$0.28
.02

$0.34
.02

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 loa n s.........................................................................
Recoveries and reductions in valuation allowances
on securities..................................................................
All other recoveries and reductions in valuation
allowances.....................................................................
Total profits on assets sold, recoveries, e t c ... .

9,765

16,148

14,309

11,432

10,936

$0.15

.23

.20

.16

.15

38,897

14,653

7,572

7,632

10,370

.60

.21

.10

.11

.14

7,370
56,032

7,083
76,383

10,354
52,555

9,287
49,878

6,803
54,439

.11
.86

.11
1.10

.14
.72

.12
.69

.08
.73

Net earnings, profits and recoveries on assets, etc.

117,805

158,489

141,637

136,922

141,153

$1.82

$2.28

$1.94

$1.89

$1.90

Losses, charge-offs, and additions to valuation
allowances:
On loans.................................................................................
On securities.........................................................................
All other losses, charge-offs, and additions to valua­
tion allowances............................................................
for FRASER
Total losses, charge-offs, etc...................................

65,897
40,263

43,213
23,166

36,660
28,415

28,091
39,756

27,959
35,501

$1.02
.62

$0.62
.33

$0.50
.39

$0.39
.55

$0.38
.48

16,607
122,767

31,588
97,967

28,223
93,298

30,406
98,253

32,435
95,895

.26
1.90

.46
1.41

.39
1.28

.42
1.36

.43
1.29

Digitized


CORPORATION

68,512
1,411
4,487
40,543
30,590
15,368

INSURANCE

Current operating expenses:
Interest on time and savings deposits...........................
Interest and discount on borrow ings..............................
D irectors’ and professional fe e s.......................................
Officers’ salaries....................................................................
Employees' salaries and wages.........................................
Taxes (other than on in co m e ).........................................
Other expenses of occupancy and maintenance of
banking quarters.........................................................
Other current operating expenses....................................
Total current operating expenses........................

DEPOSIT

7,723

FEDERAL

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

Net profits before income taxes and dividends
Federal and State taxes on net in com e .....................
Net profits after income taxes.................................

38,669
4,344
34,325

45,258
4,641
40,617

6,227
18,196

4,947
18,672

$0.87
.04
.83

$0.66

.07
.59

$0.53
.06
.47

$0.61
.06
.55

$0.10

4,747
20,308

$-0.08

$0.09
.24

0.07
.25

$0.06
.28

Cash dividends declared and interest paid on
capital:
Interest paid on capital notes and debentures and
dividends declared on preferred s tock ..................
Dividends declared on common ca p ita l........................
Total cash dividends declared and interest
paid on capital.........................................................

20,473

24,516

24,423

23,619

25,055

$0.31

.35

.33

.32

.34

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

-25,435

33,564

19,068

10,706

15,562

$-0.39

$0.48

$0.26

$0.15

$ 0.21

Other additions to capital accounts:
Preferred capital sold (par or face value)................
Common capital sold (par va lu e)...............................
Premiums on new capital s o ld ....................................
Deposits waived and subordinated............................
Assessments and other contributions........................
Total other additions to capital accounts. .

4,022
2,670
2,982
287
2,713
12,674

1,474
3,953
2,810
90
1,768
10,095

1,937
1,575
567
18
1,483
5,580

9,045
2,211
6,365
49
1,057
18,727

0.06
.04
.04

$ 0.02

$0.03
.02

.01

0.12
.03
.09

.04
.18

.06
.04
.00
.02
.14

.08

.02
.26

Other deductions from capital accounts:
Preferred capital retired (par or face v a lu e )...........
Common capital retired (par v a lu e ).........................
Premiums on preferred capital retired......................
Payments on subordinated claim s.............................
Total other deductions from capital accounts

16,645
594
29
5,087
22,355

15,040
467
253
3,897
19,657

8,887
479
42
2,096
11,504

11,537
190
53
2,808
14,588

0 .2 4
.01

$0.21
.01

0.12

$0.16

.00

.07
.32

.05
.27

.01
.00

.03
.16

.00

.04
.20

O
F

48,339
4,848
43,491

EARNINGS

60,522
2,442
58,080

7,205
17,311

-4,962

.25

.00
.0 2

.00

.00

9,506

4,782

19,701

$0.34

$0.13

$0.07

$0.27

1,019,078
1,01^2,961

1 ,018,822
1,023,328

997,90k

14.65
1U.99

13.87

1 , 0 0 2 ,6 8 6

97U,905
99b,606

l k .00

13.79
13.86

13.U
S

ASSETS
Cash and due from b an k s............................................
Securities...........................................................................
L oa n s.................................................................................
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

1,585,227
2,554,063
2,712,983
380,858
7,233,131

1,799,738
2,475,971
2,785,226
347,534
7,408,469

$22.53
35.08
35.90
6.49
100.00

$22.07
36.20
36.13
5.60
100.00

$21.92
35.31
37.51
5.26
100.00

$24.29
33.42
37.60
4.69
100.00

LIABILITIES AND CAPITAL
Demand deposits..................................................
Time deposits........................................................
Total deposits.................................................
Miscellaneous liabilities......................................
T otal capital accounts......................................
Total liabilities and capital accounts.

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

2,960,739
3,224,404
6,185,143
46,418
1,001,570
7,233,131

3.113.906
3.262.906
6,376,812
44,829
986,828
7,408,469

$41.37
42.58
83.95
1.05
15.00
100.00

$41.93
43.24
85.17
.82
14.01
100.00

$40.93
44.58
85.51
.64
13.85

$42.03
44.04
86.07
.61
13.32
100.00

20,155
30,879

20,435
32,991

20,531
32,843

20,477
33,181

13.16

Average of assets and liabilities

Number of active officers, December 3 1 ... .
Number of other employees, December 31.

20,854
28,955

100.00

1 Asset and liability items are averages of figures for beginning, middle, and end of year except for 1936 when they are averages of end-of-month figures.
2 For differences between figures for 1935 and subsequent years, see page 78.
3 Excludes the following insured banks not members of the Federal Reserve System: 16 for 1935; 17 for 1936; 14 for 1937; 16 for 1938; and 15 for 1939.
N O TE :

Minus (-) indicates net loss.

Back figures— 1934: see the Annual R eport for 1937, p. 144.




For figures excluding banks operating less than the full year, etc.: see the Annual R eport for 1938, p. 216.

BANKS

23,883

Total capital accounts at beginning of year....................
Total capital accounts at end of year...............................

INSURED

Net change in total capital accounts for y e a r...

Table 149.

E a r n i n g s , E x p e n s e s , AND DISPOSITION OF PROFITS OF INSURED COMMERCIAL B A N K S NOT M E M B E RS OF THE
F e d e r a l R e s e r v e S y s t e m , 1939

12
9

BANKS GROUPED ACCORDING TO AMOUNT OF DEPOSITS
Banks with deposits of— 1
All
banks

$500,000
to
$1,000,000

$1,000,000 $2,000,000 $5,000,000 $10,000,000 More than
to
to
to
to
$50,000,000
$2,000,000 $5,000,000 $10,000,000 $50,000,000

$100,000
or
less

$100,000
to
$250,000

$250,000
to
$500,000

7,087

432

1,993

1,977

162,557
75,245

1,711
230

14,056
3,330

24,057
7,473

29,276
11,298

30,109
13,430

26,078
14,586

34,157
29,306
301,265

460
171
2,572

3,299
789
21,474

5,410
1,528
38,468

6,044
2,391
49,009

5,921
3,477
52,937

Em ployees’ salaries and wages..................................
Taxes (other than on in co m e )...................................
Other expenses of occupancy and maintenance of
banking quarters...................................................
Other current operating expenses.............................
T o ta l c u r r e n t o p e r a tin g e x p e n s e s .................

54,480
452
4,526
45,279
35,801
16,219

200
3
40
741
164
140

2,624
21
319
5,409
1,268
1,086

5,988
27
653
8,245
2,620
1,809

8,706
27
792
8,834
4,143
2,435

15,184
43,601
215,542

137
459
1,884

974
3,317
15,018

1,644
5,505
26,491

N et c u r r e n t o p e ra tin g e a r n in g s ..............................

85,723

688

6,456

23,597
1,212

36
7

10,770
9,996

5

5,375
4,726
50,765

2,748
3,322
22,271

4,099
11,561
47,363

801
1,341
16,406

10,016
76
808
7,895
5,859
2,873

10,070
18
755
6,360
6,872
2,811

4,054
1
256
2,540
3,751
1,338

7,711
279
678
4,357
8,936
3,259

5,111
225
898
2,188
468

2,061
6,905
33,903

2,419
7,622
37,568

2,500
7,371
36,757

1,209
3,307
16,456

3,229
7,402
35,851

1,011
1,713
11,614

11,977

15,106

15,369

14,008

5,815

11,512

4,792

784
69

1,888
141

3,109
186

3,972
280

4,730
298

2,081
66

4,938
134

2,059
31

145

1,071

1,543

1,628

1,689

1,910

525

1,702

557

26

285

706

1,207

1,641

2,321

1,223

2,512

75

6,436
52,011

38
252

312
2,521

553
4,831

854
6,984

1,013
8,595

1,010
10,269

812
4,707

1,721
11,007

123
2,845

137,734

940

8,977

16,808

22,090

23,964

24,277

10,522

22,519

7,637

25,336
32,903

292
48

2,004
997

2,754
2,808

3,583
4,894

4,301
5,720

4,657
7,382

1,874
3,027

4,388
6,679

1,483
1,348

24,610
82,849

170
510

1.256
4.257

2,006
7,568

2,852
11,329

3,611
13,632

3,716
15,755

2,580
7,481

6,184
17,251

2,235
5,066

(In thousaiids of dollar s)
C u rre n t o p e r a tin g e a rn in g s:
Interest and discount on loans..................................
Interest and dividends on securities........................
Commissions, fees, and collection, exchange, and
service charges.......................................................
Other current operating earnings..............................
G ross c u r r e n t o p e r a tin g e a r n in g s .................
C u rre n t o p e ra tin g exp en ses:
Interest on time and savings deposits.....................
Interest and discount on borrow ings.......................
Directors’ and professional fees................................

P rofits o n assets s old o r ex c h a n g e d , recoveries,
a n d r e d u c tio n s in v a lu a tio n a llo w a n c e s :
Profits on securities sold or exchanged...................
Profits on other assets sold or exchanged...............
Recoveries and reductions in valuation allowances
on loa n s...................................................................
Recoveries and reductions in valuation allowances
on securities.............................••••;.............
All other recoveries and reductions in valuation
allow ances...............................................................
T o t a l p rofits o n assets so ld , recov eries, etc.
N et e a rn in g s, p rofits a n d recov eries o n assets,
e t c .............................................................................
L osses, ch a r g e -o ffs , a n d a d d itio n s t o v a lu a tio n
a llo w a n c e s :
All other
 losses, charge-offs, and additions to
valuation allow ances............................................
T o t a l losses,
http://fraser.stlouisfed.org/ ch a r g e -o ffs , e t c ............................

Federal Reserve Bank of St. Louis

CORPORATION

7,566
6,698

72

INSURANCE

19,519
12,184

379

DEPOSIT

10,185
6,016

793

FEDERAL

53

1,383

Net profits before incom e taxes and dividends
Net profits after incom e 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 ca p ita l..................
T otal cash dividends declared and interest
paid on capital...................................................

54,885
4,620
50,265

430
51
379

4,720
418
4,302

9,240
758
8,482

10,761
833
9,928

10,332
738
9,594

8,522
558
7,964

3,041
258
2,783

5,268
748
4,520

2,571
258
2,313

4,669
20,121

38
159

302
1,507

505
2,843

717
3,320

927
3,165

959
2,993

461
1,400

512
3,316

248
1,418

197

1,809

3,348

4,037

4,092

3,952

1,861

3,828

1,666

25,475

182

2,493

5,134

5,891

5,502

4,012

922

692

647

Other additions to capital accounts:
Preferred capital sold (par or face value)..............
Common capital sold (par va lu e).............................
Premiums on new capital s o ld ..................................
Deposits waived and subordinated..........................
Assessments and other contributions......................
Total other additions to capital accounts..

2,044
2,013
809
49
1,001
5,916

10
9

34
89
23
0
128
274

111
126
14

378
444
93

589
446
285

450
11
8

250

374
188

136
387

225
1,140

472
264
198
49
160
1,143

104
1,424

166
635

fiO
310

562

1,699
105
4
415

1,940
80
26
756

2,233

2,194

481

803

1,400

4
575

7
344

22
41

7

735
5
12
220

403

86

14,572

45

972

2,223

2,802

2,812

2,545

884

889

Net change in total capital accounts for year. .

16,819

178

1,795

3,298

4,229

3,833

2,891

673

113

-191

Total capital accounts, December 31, 1938...................
Total capital accounts, December 30, 1939...................

955,540
972,359

10,872
11,050

72,698
74,493

113,443
116,741

145,961
150,190

167,197
171,030

168,639
1 71,530

74,652
75,325

153,169
153,282

48,909
48,718

1,752,372
2,395,327
2,731,244
334,109
7.213.052

13,397
6,732
21,092
2,024
43,245

118,180
95,775
193,028
13,554
420.537

221,682
219.375
360.375
24,144
825.576

286,476
334,839
460,780
37,654
1.119.749

322,241
408,504
502,254
54,761
1.287.760

309,011
469,036
472,266
63,647
1.313.960

140,559
203,315
183,888
34,532
562.294

265,508
421,910
376,730
91,162
1.155.310

75,318
235,841
160,831
12,631
484.621

L IA B IL IT IE S A N D C A P IT A L
Demand deposits........................................................
3,054,948
Time deposits............................................................... 3,147,764
Total deposits...................................................
6,202,712
Miscellaneous liabilities...............................................
44,013
Total capital accou nts.................................................
966,327
Total liabilities and capital accounts.......... 7.213.052

22,730
9,459
32,189
170
10,886
43,245

216.931
129,001
345.932
1,173
73,432
420.537

403,961
303,672
707,633
2,580
115,363
825.576

502,175
464,536
966,711
4,215
148,823
1.119.749

541,217
570,253
1,111,470
6,313
169,977
1.287.760

526,494
611,149
1,137,643
5,274
171,043
1.313.960

227,152
256,373
483,525
3,569
75,200
562.294

482,938
500,236
983,174
19,153
152,983
1.155.310

131,350
303,085
434,435
1,566
48,620
484.621

658
338

4,009
2,280

4,942
3,829

4,323
4,799

2,986
5,348

1,865
5,400

549
2,769

773
6,379

97
1,244

1,400

Average of assets and liabilities:1
ASSETS
Cash and due from banks....................................
Securities...................................................................
L oa n s.........................................................................
Miscellaneous assets...............................................
Total assets.......................................................

Number of active officers, December 30........
Num ber of other em ployees, December 30. . .

20,202
32,386

1 Asset and liability items are averages of figures for December 31, 1938, June 30, 1939, and December 30, 1939.
2 For banks excluded, see footnotes 1 and 2, Table 141.
N O TE :

Minus (-) indicates net decrease in total capital accounts.

Back figures— See the following Annual Reports:




1938, p. 218; 1937, p. 146; 1936, p. 168; 1935, p. 216; 1934, p. 236.

BANKS

38

INSURED

11,523
190
53
2,806

O
F

Other deductions from capital accounts
Preferred capital retired (par or face va lu e).........
Common capital retired (par v a lu e ).......................
Premiums on preferred capital retired....................
Payments on subordinated claim s...........................
Total other deductions from capital
accounts................................................................

EARNINGS

24,790

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

T able 150.

A v e r a g e s P e r B a n k o f E a r n i n g s , E x p e n s e s , a n d D i s p o s i t i o n o f P r o f i t s o f 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 f t h e F e d e r a l R e s e r v e S y s t e m , 1939
BAN KS GROUPED ACCORDING TO AM OUNT OF DEPOSITS

14
9

Banks with deposits of- 1
—
All
banks

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

M ore than
$50,000,000
(2
)

432

1,993

1,977

1,383

793

379

72

53

5

$22,938
10,617

$3,961
532

$7,053
1,671

$12,169
3,780

$21,169
8,169

$37,967
16,936

$68,807
38,485

$141,457
83,556

$368,283
229,887

$1,513,200
1,339,600

4,820
4,135
42,510

1,065
396
5,954

1,655
396
10,775

2,736
773
19,458

4,370
1,729
35,437

7,467
4,385
66,755

14,182
12,470
133,944

38,167
46,139
309,319

77,340
218,132
893,642

160,200
268,200
3,281,200

$463
6
93
1,715
380
324

$1,317
11
160
2,713
636
545

$3,029
14
330
4,170
1,325
915

$6,295
20
573
6,386
2,996
1,761

$12,631
96
1,019
9,956
7,388
3,623

$26,570
47
1,992
16,781
18,132
7,417

$56,306
14
3,555
35,278
52,097
18,583

$145,491
5,264
12,792
82,208
168,603
61,491

$1,022,200

E m ployees’ salaries and wages..................................
Taxes (other than on in co m e )...................................
Other expenses of occupancy and maintenance of
banking quarters...................................................
Other current operating expenses.............................
T o t a l cu r r e n t o p e r a tin g e x p e n s e s ..................

$7,687
63
639
6,389
5,052
2,289
2,143
6,152
30,414

317
1,063
4,361

489
1,664
7,535

832
2,785
13,400

1,490
4,993
24,514

3,050
9,612
47,375

6,596
19,449
96,984

16,792
45,931
228,556

60,925
139,660
676,434

202,200
342,600
2,322,800

N et c u r r e n t o p e ra tin g e a r n in g s ..............................

$12,096

$1,593

$3,240

$6,058

$10,923

$19,380

$36,960

$80,763

$217,208

$958,400

$3,330
171

$83
16

$393
35

$956
71

$2,249
134

$5,010
353

$12,480
786

$28,903
917

$93,170
2,528

$411,800
6,200

1,520

336

537

780

1,177

2,130

5,040

7,292

32,113

111,400

1,410

60

143

357

873

2,069

6,124

16,986

47,396

15,000

908
7,339

88
583

157
1,265

280
2,444

617
5,050

1,277
10,839

2,665
27,095

11,278
65,376

32,472
207,679

24,600
569,000

$19,435

$2,176

$4,505

$8,502

$15,973

$30,219

$64,055

$146,139

$424,887

$1,527,400

$3,575
4,643

$676
111

$1,006
500

$1,393
1,420

$2,591
3,539

$5,424
7,212

$12,288
19,477

$26,028
42,042

$82,792
126,020

$296,600
269,600

3,473
11,691

394
1,181

630
2,136

1,015
3,828

2,062
8,192

4,554
17,190

9,805
41,570

35,833
103,903

116,679
325,491

447,000
1,013,200

C u rre n t op eratin g, e a rn in g s:
Interest and discount on loans..................................
Interest and dividends on securities........................
Commissions, fees, and collection, exchange, and
service charges.......................................................
Other current operating earnings..............................
G ross cu r r e n t o p e r a tin g e a r n in g s .................
C u rre n t o p e ra tin g exp en ses:
Interest on time and savings deposits.....................
Interest and discount on borrow ings.......................
Directors’ and professional fees................................

P rofits o n assets sold o r ex c h a n g e d , recoveries,
a n d r e d u c tio n s in v a lu a tio n a llo w a n ce s :
Profits on securities sold or exchanged...................
Profits on other assets sold or exchanged...............
Recoveries and reductions in valuation allowances
on loa n s...................................................................
Recoveries and reductions in valuation allowances
on securities............................................................
All other recoveries and reductions in valuation
allow ances...............................................................
T o t a l p rofits o n assets so ld , recoveries, etc.
N et ea rn in g s, p rofits a n d recov eries o n assets,
L osses, ch a r g e -o ffs , a n d a d d it io n s t o v a lu a tio n
a llo w a n c e s :
All other losses, charge-offs, and additions to
valuation allowances............................................
T o t a l losses, ch a r g e -o ffs , e t c ............................




45,000
179,600
437,600
93,600

CORPORATION

7,087

Number of banks3.................................................

INSURANCE

$250,000
to
$500,000

DEPOSIT

$100,000
to
$250,000

FEDERAL

$100,000
or
less

N et p rofits b e fo re in c o m e taxes a n d divid en d s
Federal and State taxes on net incom e.....................
N et p rofits a fte r i n c o m e ta x e s .................................

$995
118
877

$2,369
210
2,159

$4,674
384
4,290

$7,781
602
7,179

$13,029
931
12,098

$22,485
1,472
21,013

$42,236
3,583
38,653

$99,396
14,118
85,283

$514,200
51,600
462,600

$659
2,839

$88
368

$152
756

$255
1,438

$518
2,401

$1,169
3,991

$2,530
7,897

$6,403
19,444

$9,660
62,566

$49,600
283,600

456

908

1,693

2,919

5,160

10,427

25,847

72,226

333,200

$3,595

$421

$1,251

$2,597

$4,260

$6,938

$10,586

$12,806

$13,057

$129,400

O th e r a d d itio n s t o c a p ita l a c c o u n t s :
Preferred capital sold (par or face va lu e)..............
Common capital sold (par v a lu e).............................
Premiums on new capital s o ld ..................................
Deposits waived and subordinated..........................
Assessments and other contributions......................
T o t a l o t h e r a d d it io n s t o c a p ita l a cco u n ts

$289
284
114
6
141
834

$23
21

$17
45
12

$56
64
7

$273
321
67

$1,554
1,177
752

$6,249
153
111

$4,717

$74,800
37,600

51
95

63
137

69
196

163
824

$595
333
250
62
202
1,442

274
3,757

2,306
8,819

1,132
5,849

112,400

O th e r d e d u c t io n s f r o m c a p ita l a c c o u n t s :
Preferred capital retired (par or face va lu e).........
Comm on capital retired (par v a lu e ).......................
Premiums on preferred capital retired....................
Payments on subordinated claim s...........................
T o t a l o t h e r d e d u c t io n s fr o m
ca p ita l
a c c o u n t s ................................................................

$1,626
27
7
396

$88

$859
53
2
210

$1,402
58
19
547

$2,816

$5,789

$6,681

$15,151

$280,000

16

$369
3
6
110

5
725

18
908

5,597

1,623

2,056

104

488

1,124

2,026

3,546

6,715

12,278

16,774

280,000

N et c h a n g e in t o ta l c a p ita l a c c o u n t s fo r y e a r . .

$2,373

$412

$900

$1,669

$3,058

$4,834

$7,628

$9,347

$2,132

$-38,200

Total capital accounts, December 3 1 , 1938...................
Total capital accounts, December 30, 1939...................

13^,830
137,203

25,167
25,579

36,177
37,377

57,381
59,050

105,539
108,597

210,8 U
215,675

A H ,958
1+52,586

1,036,831+
1,01,6,181

2,889,981
2,892,113

9,781,800
9,7^3,600

INSURED

ASSETS
Cash and due from banks..........................................
Securities.........................................................................
L oa n s...............................................................................
Miscellaneous assets.....................................................
T o t a l a s s e t s ..............................................................

$247,266
337,989
385,388
47,143
1,017,786

$31,012
15,583
48,824
4,685
100,104

$59,298
48,056
96,853
6,800
211,007

$112,131
110,964
182,284
12,211
417,590

$207,141
242,111
333,174
27,226
809,652

$406,357
515,137
633,359
69,056
1,623,909

$815,332
1,237,562
1,246,084
167,935
3,466,913

$1,952,208
2,823,819
2,554,000
479,612
7,809,639

$5,009,585
7,960,566
7,108,113
1,720,038
21,798,302

$15,063,600
47.168.200
32.166.200
2,526,200
96.924.200

LIABILITIES AND CAPITAL
Demand deposits..........................................................
Time deposits................................................................
T o t a l d e p o s it s .........................................................
Miscellaneous liabilities...............................................
Total capital accounts.................................................
T o t a l lia b ilitie s a n d c a p ita l a c c o u n t s ..........

$431,064
444,160
875,224
6,210
136,352
1,017,786

$52,616
21,896
74,512
393
25,199
100,104

$108,846
64,727
173,573
589
36,845
211,007

$204,330
153,603
357,933
1,304
58,353
417,590

$363,106
335,890
698,996
3,047
107,609
809,652

$682,493
719,108
1,401,601
7,961
214,347
1,623,909

1,389,166
1,612,530
3,001,696
13s916
451,301
3,466,913

$3,154,889
3,560,736
6,715,625
49,570
1,044,444
7,809,639

$9,112,038
9,438,415
18,550,453
361,377
2,886,472
21,798,302

$26,270,000
60.617.000
86.887.000
313,200
9,724,000
96,924,200

Average o f assets a n d lia b ilitie s :l

1.5

2.0

2.5

3.1

3.8

4.9

7.6

14.6

19.4

.8

1.1

1.9

3.5

6.7

14.2

38.5

120.4

248.8

1 Asset and liability items are averages of figures for December 31, 1938, June 30, 1939, and December 30, 1939.
2 Because of the small number of banks, the figures for this group are not necessarily typical of banks with deposits of more than $50,000,000.
8 For banks excluded, see footnotes 1 and 2, Table 141.
N O T E : Minus (-) indicates net decrease in total capital accounts.

 figures— See the
Back


following Annual Reports: 1938, p. 220; 1937, p. 148; 1936, p. 170; 1935, p. 218 (revised); 1934, p. 238.

195

2.9
4.6

BANKS

Average number of active officers, De­
cember 8 0 ...........................................................
Average number of other employees, De­
cember 3 0 ...........................................................

EARNINGS

3,498

N et p rofits a fte r d iv id e n d s ........................................

O
F

C ash d iv id en d s d e cla re d a n d in te re s t p aid o n
c a p ita l:
Interest paid on capital notes and debentures and
dividends declared on preferred stock ............
Dividends declared on common ca p ita l.................
T o t a l ca sh d iv id e n d s d ecla red a n d in terest
p a id o n c a p it a l...................................................

$7,744
651
7,093

Table 151.

R A T IO S OF E A R N IN G S, E XPE N SE S, AND DISPOSITION OF PROFITS OF INSURED COMMERCIAL B A N K S NOT M E M B E RS
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 , 1939
BANKS GROUPED ACCORDING TO AMOUNT OF DEPOSITS
Banks with deposits of— 1
All
banks

A m o u n t s per $100 o f to t a l a sse ts1
C u rren t o p era tin g ea rn in g s:
Interest and discount on loans......................................
Interest and dividends on securities...........................
Commissions, fees, and collection, exchange, and
service charges............................................................
Other current operating earnings.................................
G ross cu rren t o p era tin g e a r n in g s ...................
C u rren t o p era tin g ex p en ses:
Interest on time and savings deposits.......................
Interest and discount on borrowings..........................
Salaries, wages, and fees.................................................
Taxes (other than on incom e).......................................
Other expenses of occupancy and maintenance of
banking quarters........................................................
Other current operating expenses................................
T o ta l c u rren t op era tin g e x p e n se s...................
N e t cu rren
 t op eratin g


e a r n in g s .................................

432

1,993

1,977

1,383

793

379

72

53

5

$53.96
24.98

$66.52
8.94

$65.46
15.51

$62.54
19.43

$59.74
23.05

$56.88
25.37

$51.37
28.73

$45.73
27.01

$41.21
25.72

$46.12
40.83

11.34
9.72
100.00

17.88
6.66
100.00

15.36
3.67
100.00

14.06
3.97
100.00

12.33
4.88
100.00

11.18
6.57
100.00

10.59
9.31
100.00

12.34
14.92
100.00

8.65
24.42
MG.GO

4.88
8.17
100.00

$18.08
.15
28.42
5.38

$7.78
.12
36.74
5.44

$12.22
.10
32.57
5.06

$15.57
.07
29.94
4.70

$17.76
.06
28.09
4.97

$18.92
.14
27.51
5.43

$19.84
.04
27.55
5.54

$18.20
.00
29.40
6.01

SI 6.28
.59
29.50
6.88

$31.15

5.04
14.48
71.55

5.33
17.84
73.25

4.54
15.45
69.94

4.27
14.32
68.87

4.21
14.09
69.18

4.57
14.40
70.97

4.92
14^52
72.41

5.43
14.85
73.89

6.82
15.62
75.69

6.16
10.45
70.79

$28.45

$26.75

$30.06

$31.13

$30.82

$29.03

$27.59

$26.11

$24.31

$29.21

$2.25
1.04

$3.96
.53

$3.34
.79

$2.91
.91

$2.61

T .o i

$2.34
1.04

$1.98
1.11

$1.81
1.07

$1.69
1.05

$1.56
1.38

.47
.42
4.18

1.06
.40
5.95

.78
.20
5.11

.66
.18
4.66

.54
.22
4.38

.46
.27
4.11

.4i
.36
3.86

.49
.59
3.96

.35
1.01
4.10

.17
.28
3.39

$0.76
.01
1.19
.22

$0.46
.01
2.19
.32

$0.62
.00
1.66
.26

$0.73
.00
1.40
.22

$0.78
.00
1.23
.22

$0.78
.01
1.13
.22

$0.77
.00
1.06
.21

$0.72
.00
1.16
.24

$0.67
.02
1.21
.28

$1.05

.21
.60
2.99

.32
1.06
4.36

.23
.80
3.57

.20
.66
3.21

.18
.62
3.03

.19
.59
2.92

.19
.56
2.79

.22
.59
2.93

.28
.64
3.10

.21
.36
2.40

$1.19

$1.59

$1.54

$1.45

$1.35

$1.19

$1.07

$1.03

$1.00

$0.99

20.18
2.85

.68
.10

CORPORATION

N e t c u rren t o p era tin g e a r n in g s .................................

7,087

INSURANCE

C u rren t o p e ra tin g exp en ses:
Interest on time and savings deposits.......................
Interest and discount on borrowings..........................
Salaries, wages, and fees.................................................
Taxes (other than on incom e).......................................
Other expenses of occupancy and maintenance of
banking quarters........................................................
Other current operating expenses................................
T o ta l c u rren t o p era tin g e x p e n se s...................

$250,000
to
$500,000

DEPOSIT

A m o u n t s per $100 of gross earn in gs
C u rren t op era tin g e a rn in g s:
Interest and discount on loans......................................
Interest and dividends on securities..........................
Commissions, fees, and collection, exchange, and
service charges............................................................
Other current operating earnings.................................
G ross c u rren t o p era tin g e a r n in g s ...................

$5,000,000
$10,000,000
to
to
$10,000,000 $50,000,000

More than
$50,000,000
(2)

$100,000
to
$250,000

FEDERAL

Number oi banks3 ...................................................

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

$100,000
or
less

Recoveries, profits on securities, etc........................
Losses and depreciation on assets............................
Net profits before incom e taxes and dividends
Federal and State taxes on net income...................
Net profits after incom e taxes.............................
Cash dividends declared.............................................
Net profits after dividends....................................
Other additions to total capital accounts...............
Other deductions from total capital accounts. . . .
Net change in total capital accounts...............
Total capital accounts, December 31, 1938...............
Total capital accounts, December 30, 1939...............

$0.72
1.15
.76
.06
.70
.35
.35
.08
.20
.23
13.25
134 8

$0.58
1.18
.99
.11
.88
.46
.42
.09
.10
.41
25.H
25.55

$0.60
1.02

$0.59
.92

1 .1 2

1 .1 2

Am ounts per $100 of total capital
accounts 1
Net current operating earnings.........................
Recoveries, profits on securities, etc........................
Losses and depreciation on assets............................
Net profits before incom e taxes and dividends
Federal and State taxes on net income...................
Net profits after incom e taxes.............................
Cash dividends declared.............................................
Net profits after dividends....................................
Other additions to total capital accounts...............
Other deductions from total capital accounts. . . .
Net change in total capital accounts..............

$8.87
5.38
8.57
5.68
.48
5.20
2.56
2.64
.61
1.51
1.74

$6.32
2.31
4.68
3.95
.47
3.48
1.81
1.67
.38
.41
1.64

$8.79
3.43
5.79
6.43
.57
5.86
2.47
3.39
.37
1.32
2.44

$10.38
4.19
6.56

$5.95

$8.11

$7.28

3.14
.99

3.42
.53

3.48
.82

1.73
.93
1.37

2.11
1.38
.71

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

$24.29
33.21
37.87
4.63

LIABILITIES AN D CAPITAL
Demand deposits..........................................................
Time deposits................................................................
Total deposits.........................................................
Miscellaneous liabilities...............................................
Total capital accounts.................................................
Total liabilities and capital accounts..........

13.28
13.,W

13.26
13.27

$10.15
4.69
7.61
7.23
.56
6.67
2.71
3.96
.77
1.89
2.84

$9.04
5.06
8.02
6.08
.43
5.65
2.41
3.24
.67
1.65
2.26

$8.19
6.00
9.21
4.98
.32
4.66
2.31
2.35
.83
1.49
1.69

$7.73
6.26
9.95
4.04
.34
3.70
2.47
1.23
.84
1.18
.89

$7.53
7.19
11.28
3.44
.49
2.95
2.50
.45
.20
.58
.07

$9.86
5.85
10.42
5.29
.53
4.76
3.43
1.33
1.16
2.88
-0.39

$6.68

$6.35

$5.99

$5.52

$5.54

$5.18

$4.70

3.41
.86

3.37
.93

3.29
.97

3.11
1.01

2.96
1.02

2.89
1.17

2.84
.87

2.03
1.04
1.04

1.97
.76
1.28

1.87
.78
1.46

1.76
.86
1.40

1.65
.99
1.57

1.58
1.02
1.49

1.54
1.16
1.58

1.69
.92
.57

$30.98
15.57
48.77
4.68

$28.10
22.77
45.90
3.23

$26.85
26.57
43.65
2.93

$25.58
29.90
41.15
3.37

$25.02
31.72
39.00
4.26

$23.52
35.70
35.94
4.84

$25.00
36.16
32.70
6.14

$22.98
36.52
32.61
7.89

$15.54
48.67
33.19
2.60

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

$42.35
43.64
85.99
.61
13.40

$52.56
21.87
74.43
.39
25.18

$51.58
30.68
82.26
.28
17.46

$48.93
36.78
85.71
.31
13.98

$44.85
41.48
86.33
.38
13.29

$42.03
44.28
86.31
.49
13.20

$40.07
46.51
86.58
.40
13.02

$40.40
45.59
85.99
.63
13.38

$27.10
62.54
89.64
.32
10.04

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

$41.80
43.30
85.10
1.66
13.24
ICO.OO

.10
1 .0 2

.43
.59
.07
.23
.43
17.28
17.71

.09
1.03
.41
.62
.05
.27
.40
13.7k
n .u

8 .0 1

.66
7.35
2.90
4.45
.34
1.93
2 .8 6

.2 2

.1 2

$0.95
1.49
.46
.07
.39
.33
.06
.03
.08
.0 1

Average of assets and liabilities per $100 of
total assets i1

NOTE:

Minus (-) indicates net decrease in total capital accounts.

Back figures— See the following Annual Reports:




1938, p. 222; 1937, p. 150; 1936, p. 172; 1935, p. 220; 1934, p. 240.

1 0 0 .0 0

197

1 Asset and liability items are averages of figures for December 31, 1938, June 30, 1939, and December 30, 1939.
2 Because of the small number of banks, the figures for this group are not necessarily typical of banks with deposits of more than $50,000,000.
3 For banks excluded, see footnotes 1 and 2, Table 141.

BANKS

12.83
13.05

$0.59
1.05
.53
.05
.48
.35
.13
.12
.29
-.04
10.09
10.05

$0.84
1.33
.54
.05
.49
.33
.16
.11
.15

INSURED

$0.78
1.20
.65
.04
.61
.30
.31
.11
.20

O
F

$0.67
1.06
.80
.05
.75
.32
.43
.09
.22
.30
12.98
13.28

EARNINGS

Special ratios 1
Interest and discount on loans per $100 of total
loans.........................................................................
Interest and dividends on securities per $100 of
total securities.......................................................
Profits on securities per $100 of total securities. .
Interest on time and savings deposits per $100 of
time and savings deposits..................................
Losses on loans per $100 of total loans...................
Losses on securities per $100 of total securities...

$0.62
1.01
.96
.07
.89
.36
.53
.10
.25
.38
13.03
13 .lf.1

T a ble 152.

R a t i o s o f E a r n i n g s , E x p e n s e s , a n d D is p o s it i o n o f P r o f i t s o f 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 f t h e F e d e r a l R e s e r v e S y s t e m , 1939

18
9

BANKS GROUPED ACCORDING TO POPULATION OF CENTER IN WHICH LOCATED
Banks in centers with population 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.............................
T otal current operating expenses..................
Net current operating earnings..............................




2,500
to
5,000

5.000
to
10.000

10,000
to
25,000

25.000
to
50.000

50,000
or more

7,087

597

1,289

1,592

1,495

701

485

356

155

417

$53.96
24.98

$69.70
16.98

$66.55
18.64

$61.95
21.73

$59.03
23.15

$55.86
26.32

$56.06
26.63

$52.52
28.53

$53.53
27.56

$46.27
25.58

11.34
9.72
100.00

11.08
2.24
100.00

11.83
2.98
100.00

12.65
3.67
100.00

13.23
4.59
100.00

12.33
5.49
100.00

10.09
7.22
100.00

10.12
8.83
100.00

8.30
10.61
100.00

11.20
16.95
100.00

$18.08
.15
28.42
5.38

$18.72
.05
29.87
3.80

$17.60
.07
29.39
4.48

$17.35
.07
29.01
4.68

$16.96
.07
28.55
5.21

$17.48
.04
27.97
5.01

$18.52
.02
27.64
5.78

$19.70
.02
27.39
5.42

$19.72
.15
26.42
5.89

$18.00
.33
29.00
5.77

5.04
14.48
71.55

4.07
14.34
70.85

3.61
14.52
69.67

4.08
13.90
69.09

3.97
14.17
68.93

4.03
14.01
68.54

4.13
14.29
70.38

5.34
14.46
72.33

5.20
14.05
71.43

6.43
15.01
74.54

$28.45

$29.15

$30.33

$30.91

$31.07

$31.46

$29.62

$27.67

$28.57

$25.46

$2.25
1.04

$3.18
.77

$3.10
.87

$2.81
.99

$2.58
1.01

$2.31
1.09

$2.25
1.07

$2.01
1.09

$2.05
1.05

$1.93
1.07

.47
.42
4.18

.51
.10
4.56

.55
.14
4.66

.57
.17
4.54

.58
.20
4.37

.51
.23
4.14

.41
.29
4.02

.39
.34
3.83

.32
.40
3.82

.47
.70
4.17

$0.76
.01
1.19
.22

$0.85
.00
1.36
.17

$0.82
.00
1.37
.21

$0.79
.00
1.32
.21

$0.74
.00
1.25
.23

$0.72
.00
1.16
.21

$0.74
.00
1.11
.23

$0.75
.00
1.05
.21

$0.75
.01
1.01
.23

$0.75
.01
1.21
.24

.21
.60
2.99

.19
.66
3.23

.17
.68
3.25

.19
.63
3.14

.17
.62
3.01

.17
.58
2.84

.17
.58
2.83

.20
.56
2.77

.20
.53
2.73

.27
.63
3.11

$1.19

$1.33

$1.41

$1.40

$1.36

$1.30

$1.19

$1.06

$1.09

$1.06

CORPORATION

Am ounts per $100 of total assets2
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.................

1,000
to
2,500

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.............................
T otal current operating expenses..................

500
to
1,000

DEPOSIT

Am ounts 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.................

250
to
500

FEDERAL

Number of banks1.................................................

Less than
250

Recoveries, profits on securities, etc........................
Losses and depreciation on assets............................
Net profits before income taxes and dividends
Federal and State taxes on net income...................
Net profits after income taxes.............................
Cash dividends declared.............................................
Net profits after dividends....................................
Other additions to total capital accounts...............
Other deductions from total capital accounts. . . .
Net change in total capital accounts...............
Total capital accounts, December 31, 1 9 3 8 ...............
Total capital accounts, December 30, 1 9 3 9 ...............

$0.58
.98
.08
.93
.37
.56
.04
.21
.39

13.25
1348

U .8 2
15.28

$8.87
5.38
8.57
5.68
.48
5.20
2.56
2.64
.61
1.51
1.74

$0.88
1.29

$0.77
1.26
.57
.07
.50
.33
.17
.07
.14

.08
.94
.38
.56
.07
.28
.35

$0.64
.96
1.04
.08
.96
.38
.58
.08
.28
.38

$0.64
.99
.95
.06
.89
.37
.52
.13
.25
.40

$0.64
1.13
.70
.05
.65
.36
.29
.08
.20
.17

$0.84
1.27
.63
.04
.59
.29
.30
.14
.22
.2 2

.05
.63
.27
.36
.03
.21
.18

15.01
1 5 .U0

13.86
U .2 1

13.18
13.56

12.67
13.07

13.22
13.39

12.68
12.90

13.37
13.55

13.13
13.23

$8 . 8 8
3.47
6.02
6.33
.53
5.80
2.12
3.68
.17
.79
3.06

$9.31
3.81
6.49
6.63
.53

$1 0 . 1 2
4.73
7.09
7.76
.58
7.18
2.89
4.29
.62
2.05

$10.07
4.96
7.70
7.33
.47

2.42
3.68
.29
1.37
2.60

$9.97
4.67
7.37
7.27
.55
6.72
2.73
3.99
.51
1.98
2.52

.59
1.49
1.30

$8.24
6.54
9.88
4.90
.32
4.58
2.26
2.32
1.07
1.68
1.71

$8.08
6.54
9.59
5.03
.36
4.67
2.01

2 .8 6

2.87
3.99
1.03
1.91
3.11

$8.89
4.81
8.48
5.22
.40
4.82
2.62

.19
1.50
1.35

$8.06
5.87
9.58
4.35
.52
3.83
2.55
1.28
.53
1.08
.73

$5.95

$6.43

$6.62

$6.53

$6.41

$6.05

$6.08

$5.67

$5.64

$5.51

3.14
.99

3.25
.85

3.44
.88

3.45
.90

3.42
.92

3.40
.86

3.30
.97

3.06
1.06

3.06
1.04

2.90
1.04

1.73
.93
1.37

2.02
.78
1.24

2.04
.83
1.36

1.98
.85
1.44

1.93
.80
1.25

1.85
.88
1.28

1.75
.89
1.56

1.69
.96
1.71

1.62
.98
1.64

1.57
1.04
1.22

1 .0 1

6 .1 0

$0.66
1.04
1 .0 2

2 .2 0

2 .6 6

.1 0

88,876
89,386
165,846
9,873
353,981

155,394
174,350
262,389
16,631
608,764

241,381
263,106
357,638
27,128
889,253

187,858
231,379
275,976
25,701
720,914

194,819
242,924
277,271
33,606
748,620

201,373
303,105
300,403
42,120
847,001

112,921
160,475
168,886
23,365
465,647

537,843
899,449
858,075
152,558
2,447,925

LIABILITIES AND CAPITAL
Demand deposits..........................................................
Time deposits................................................................
Total deposits.........................................................
Miscellaneous liabilities...............................................
Total capital accounts.................................................
Total liabilities and capital accounts..........

55,896
55,264
111,160
194
19,593
130,947

157,299
142,206
299,505
775
53,701
353,981

279,927
241,797
521,724
1,277
85,763
608,764

426,357
341,530
767,887
2,070
119,296
889,253

343,887
281,473
625,360
2,292
93,262
720,914

328,534
318,120
646,654
1,781
100,185
748,620

356,659
378,986
735,645
2,420
108,936
847,001

183,210
217,301
400,511
2,245
62,891
465,647

923,179
1,171,087
2,094,266
30,959
322,700
2,447,925

3,054,948
3,147,764
6,202,712
44,013
966,327
7,213,052

1 For banks excluded, see footnotes 1 and 2, Table 141.
1 Asset and liability items are averages of figures for December 31, 1938, June 30, 1939, and December 30, 1939.
Back figures— See the following Annual Reports: 1938, pp. 224-227; 1937, pp. 152-155; 1936, pp. 174-177.




199

31,907
31,153
64,760
3,127
130,947

BANKS

(In thousands of dollars)

ASSETS
Cash and due from banks.......................................... 1,752,372
Securities......................................................................... 2,395,327
Loans............................................................................... 2,731,244
Miscellaneous assets.....................................................
334,109
T otal assets.............................................................. 7,213,052

INSURED

Average of assets and liabilities : 2

6 .8 6

.6 8

O
F

Special ratios 2
Interest and discount on loans per $100 of total
loans.........................................................................
Interest and dividends on securities per $100 of
total securities.......................................................
Profits on securities per $100 of total securities. . .
Interest on time and savings deposits per $100 of
time and savings deposits..................................
Losses on loans per $100 of total loans...................
Losses on securities per $100 of total securities. ..

$0.52
.90
.95
.08
.87
.32
.55
.03
.12
.46

EARNINGS

Am ounts per $100 of total capital
accounts 2
Net current operating earnings.........................
Recoveries, profits on securities, etc........................
Losses and depreciation on assets............................
Net profits before income taxes and dividends
Federal and State taxes on net income...................
Net profits after income taxes.............................
Cash dividends declared.............................................
Net profits after dividends....................................
Other additions to total capital accounts...............
Other deductions from total capital accounts. . . .
Net change in total capital accounts...............

$0.72
1.15
.76
.06
.70
.35
.35
.08
.20
.23

Table 153.

RATIOS OF EARNINGS, EXPENSES, AND DISPOSITION OF PROFITS OF INSURED COMMERCIAL BANKS NOT MEMBERS
of the F ederal R eserve System , 1939
BANKS GROUPED ACCORDING TO RATE OF NET EARNINGS
Banks with net current operating earnings per $100 of total assets of— 1
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..............................




$1.00
to $1.49

$1.50
to $1.99

$2.00
to $2.49

$2.50
to $2.99

$3.00
or more

7,087

15

60

461

1,655

2,189

1,471

712

304

220

$53.96
24.98

$48.35
23.63

$37.02
28.53

$38.95
25.29

$47.86
29.75

$55.01
27.95

$60.43
21.15

$59.25
18.09

$66.75
9.53

$71.54
7.09

11.34
9.72

15.93
12.09

24.14
10.31

9.70
26.06

9.71
12.68

9.75
7.29

12.33
6.09

16.07
6.59

19.86
3.86

17.24
4.13

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

$18.08
.15
28.42
5.38

$29.67
3.30
56.04
6.59

$21.83
.73
41.25
7.07

$15.63
1.14
38.71
7.58

$20.14
.03
29.97
6.39

$21.51
.04
25.87
4.87

$15.12
.11
26.76
4.70

$10.62
.11
26.98
5.07

$9.81
.08
28.75
3.73

$11.07
.19
26.28
3.10

5.04
14.48
71.55

10.99
23.63
130.22

10.37
25.45
106.70

9.90
18.39
91.35

5.93
15.91
78.37

4.20
13.16
69.65

3.81
13.17
63.67

3.54
12.39
58.71

4.36
14.29
61.02

4.03
15.16
59.83

$28.45

$-30.22

$-6.70

$8.65

$21.63

$30.35

$36.33

$41.29

$38.98

$40.17

$2.25
1.04

$1.28
.62

$1.20
.92

$1.42
.92

$1.73
1.07

$2.21
1.13

$2.83
.99

$3.22
.98

$4.65
.66

$6.39
.63

.47
.42
4.18

.42
.32
2.64

.78
.34
3.24

.35
.96
3.65

.35
3.61

.39
.29
4.02

.58
.28
4.68

.87
.36
5.43

1.38
.28
6.97

1.54
.37
8.93

$0.76
.01
1.19
.22

$0.78
.09
1.48
.17

$0.71
.02
1.34
.23

$0.57
.04
1.41
.28

$0.73
.00
1.08
.23

$0.87
.00
1.04
.20

$0.71
.00
1.25
.22

$0.58
.01
1.47
.28

$0.68
.01
2.00
.26

$0.99
.02
2.35
.28

.21
.60
2.99

.29
.63
3.44

.34
.82
3.46

.36
.67
3.33

.21
.58
2.83

.17
.52
2.80

.18
.62
2.98

.19
.66
3.19

.30
4.25

.36
1.34
5.34

$1.19

$-0.80

$ -0 .2 2

$0.32

$0.78

$1 . 2 2

$1.70

$2.24

$2.72

$3.59

.46

1 .0 0

CORPORATION

Am ounts per $100 of total assets 1
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.................

$0.50
to $0.99

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

$0.00
to $0.49

DEPOSIT

Am ounts 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.................

$-0.01
to $-0.49

FEDERAL

Number of banks2.................................................

$-0.50
or more

A m ounts per $100 of total capital
accounts 1
Net current operating earnings.........................
Recoveries, profits on securities, etc........................
Losses and depreciation on assets............................
Net profits before incom e taxes and dividends
Federal and State taxes on net income..................
Net profits after incom e taxes.............................
Cash dividends declared.............................................
Net profits after dividends....................................
Other additions to total capital accounts..............
Other deductions from total capital accounts. . . .
Net change in total capital accounts..............

$8.87
5.38
8.57
5.68
.48
5.20
2.56
2.64
.61
1.51
1.74

$-4.36
6.74
5.87
-3.49
.08
-3.57
.31
-3.88
.87
1.98
-4.99

$-1.28
6.51
7.37
-2.14
.07
- 2 .2 1
.50
-2.71
1.21
.93
-2.43

$2.45
6.99
11.44
- 2 .0 0
.09
-2.09
1.13
-3.22
.66
.90
-3.46

$6.06
6.70
8.81
3.95
.24
3.71
1.99
1.72
.40
1.11

$5.95

$5.55

$4.64

3.14
.99

3.28
4.28

2.72
2.09

1.73
.93
1.37

1.63
.32
2.75

ASSETS
Cash and due from banks.......................................... 1,752,372
Securities......................................................................... 2,395,327
Loans............................................................................... 2,731,244
Miscellaneous assets.....................................................
334,109
T otal assets.............................................................. 7,213,052
LIABILITIES AND CAPITAL
Demand deposits.......................................................... 3,054,948
Time deposits................................................................ 3,147,764
Total deposits......................................................... 6,202,712
Miscellaneous liabilities...............................................
44,013
Total capital accounts.................................................
966,327
Total liabilities and capital accounts......... 7,213,052

Special ratios 1
Interest and discount on loans per $100 of total
loans.........................................................................
Interest and dividends on securities per $100 of
total securities.......................................................
Profits on securities per $100 of total securities.. .
Interest on time and savings deposits per $100 of
time and savings deposits..................................
Losses on loans per $100 of total loans..................
Losses on securities per $100 of total securities.. .

$0.74
1.28
3.05
.45
2.60
1.02
1.58
.06
.21
1.43
16.51
17.94

12 4 8
12.70

.46
.64
.06
.21
.49
13.74
14-23

.07
.29
.80
17.10
17.90

$0.65
1.23
2.14
.24
1.90
.72
1.18
.08
.48
.78
15.92
16.70

1 .0 1

$9.69
4.88
8.72
5.85
.42
5.43
2.67
2.76
.94
1.92
1.78

$1 2 . 1 0
4.27
7.96
8.41
.62
7.79
3.22
4.57
.43
1.52
3.48

$12.78
3.19
5.81
10.16
.89
9.27
3.43
5.84
.38
1.67
4.55

$16.62
4.01
7.54
13.09
1.47
11.62
4.38
7.24
.48
2.93
4.79

$20.82
4.27
7.40
17.69
2.61
15.08
5.90
9.18
.34
1.25
8.27

$4.89

$5.29

$5.71

$6.41

$7.06

$8.38

$9.70

2.80
1.45

2.92
1.06

3.20
.86

3.54
.82

3.61
.69

3.91
.75

4.86
1.46

1.54
1.66
1.13

1.45
1.18
1.12

1.65
.88
1.46

1.78
.87
1.31

1.84
.91
1.58

1.92
1.05

1.95
1.16
1.66

1.97
.99
1.93

3,369
1,309
1,586
634
6,898

18,895
20,014
15,244
4,828
58,981

192,797
207,255
182,482
45,884
628,418

576,493
842,454
748,496
124,334
2,291,777

556,927
887,740
978,444
100,882
2,523,993

250,753
288,555
455,887
36,618
1,031,813

91,631
105,067
175,724
12,909
385,331

35,573
24,480
80,076
4,153
144,282

25,934
18,453
93,305
3,867
141,559

2,204
3,311
5,515
121
1,262
6,898

19,708
27,086
46,794
2,195
9,992
58,981

291,593
246,586
538,179
9,380
80,859
628,418

980,578
1,008,237
1,988,815
7,775
295,187
2,291,777

968,558
1,228,380
2,196,938
8,835
318,220
2,523,993

484,573
396,993
881,566
5,042
145,205
1,031,813

200,024
115,598
315,622
2,088
67,621
385,331

67,694
50,678
118,372
2,333
23,577
144,282

40,016
70,895
110,911
6,244
24,404
141,559

$0.86
1.13
.51
.03
.48
.26

$0.61
1.09
.74
.06
.6 8

1 .1 0

.33
.35
.12
.25

.2 2

.05
.14
.13
12.78
12.91

$0.60
1.12
1.18
.08

.2 2

$0.56
1.02
1.78
.15
1.63
.61
1 .0 2

1 .0 0

Average of assets and liabilities
(In thousands of dollars)

1 Asset and liability items are averages of figures for December 31, 1938, June 30, 1939, and December 30, 1939.
2 For banks excluded, see footnotes 1 and 2, Table 141.
NOTE: Minus (-) indicates net deficit, net loss, or net decrease in total capital accounts.
Back figures— See the following Annual Reports: 1938, pp. 228-231; 1937, pp. 156-159; 1936, pp. 182-185.




201

$0.90
1.48
-.2 6
.01
-.2 7
.14
-.41
.09
.12
-.4 4
13.10
12.66

BANKS

$1.10
1.24
-.36
.01
-.3 7
.09
-.46
.21
.16
-.41
17.07
16.66

INSURED

$1.23
1.07
-.6 4
.01
-.6 5
.06
-.71
.16
.36
-.91
18.68
17.77

O
F

$0.72
1.15
.76
.06
.70
.35
.35
.08
.20
.23
13.25
1 34 8

EARNINGS

Recoveries, profits on securities, etc........................
Losses and depreciation on assets............................
Net profits before incom e taxes and dividends
Federal and State taxes on net income...................
Net profits after incom e taxes.............................
Cash dividends declared.............................................
Net profits after dividends....................................
Other additions to total capital accounts..............
Other deductions from total capital accounts. . . .
Net change in total capital accounts...............
Total capital accounts, December 3 1 , 1938..............
Total capital accounts, December 30, 1939..............

RATIOS OF EARNINGS, EXPENSES, AND DISPOSITION OF PROFITS OF INSURED COMMERCIAL BANKS NOT MEMBERS
of the F ederal R eserve System , 1939

22
0

Table 154.

BANKS GROUPED ACCORDING TO RATE OF INTEREST PAID ON TIME AND SAVINGS DEPOSITS

All
banks

Banks paying interest per $100 of time and savings deposits of— 1
Less than
$0.50

$0.50
to $0.99

$1.00
to $1.49

$1.50
to $1.99

$2.00
or more

7,087

211

43

268

782

3,097

2,686

Am ounts 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.............................................................

$53.96
24.98
11.34
9.72

$59.36
16.04
20.45
4.15

$34.22
31.07
15.18
19.53

$37.69
25.26
12.91
24.14

$44.10
28.74
11.69
15.47

$55.95
25.96
10.62
7.47

$63.70
19.91
11.48
4.91

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

1 0 0 .0 0

1 0 0 .0 0

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

$18.08
.15
28.42
5.38
5.04
14.48
71.55

$0.11
38.03
6.28
5.10
16.38
65.90

$1.99
.03
37.34
2.99
21.30
18.87
82.52

$7.21
1.26
37.02
6.97
7.15
16.89
76.50

$14.99
.04
30.15
5.94
6.12
15.98
73.22

$20.76
.07
26.64
5.19
4.50
13.64
70.80

$20.01
.09
27.18
4.92
3.84
13.86
69.90

INSURANCE

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

$28.45

$34.10

$17.48

$23.50

$26.78

$29.20

$30.10

Am ounts per $100 of total assets 1
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.............................................................

$2.25
1.04
.47
.42
4.18

$2.66
.72
.91
.19
4.48

$1.11
1.01
.49
.63
3.24

$1.44
.96
.49
.92
3.81

$1.62
1.06
.43
.56
3.67

$2.39
1.11
.45
.33
4.28

$2.98
.93
.54
.23
4.68

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

$0.76
.01
1.19
.22
.21
.60
2.99

$0.00
1.70
.28
.23
.74
2.95

$0.06
.00
1.21
.10
.69
.61
2.67

$0.27
.05
1.41
.27
.27
.64
2.91

$0.55
.00
1.11
.22
.22
.59
2.69

$0.89
.00
1.14
.22
.19
.59
3.03

$0.94
.00
1.27
.23
.18
.65
3.27

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

$1.19

$1.53

$0.57

$0.90

$0.98

$1.25

$1.41




CORPORATION

Number of banks2..............................................................................................

DEPOSIT

FEDERAL

Banks with
no time
and savings
deposits

Recoveries, profits on securities, etc.........................................................
Losses and depreciation on assets..............................................................
Net profits before incom e taxes and dividends.............................
Federal and State taxes on net income....................................................
Net profits after incom e taxes...............................................................
Cash dividends declared...............................................................................
N et profits after dividends......................................................................
Other additions to total capital accounts................................................
Other deductions from total capital accounts........................................
Net change in total capital accounts................................................
Total capital accounts, December 31, 1938................................................
Total capital accounts, December 30, 1939................................................

$0.71
1.14
.82
.06
.76
.35
.41
.04
.20
.25

$0.58
.94
1.05
.09
.96
.42
.54
.09
.19
.44

12.63
12.81+

13.18
13.1+3

11+.11+
11+.58

$6.84
5.40
11.95
.29
.39
-.10
2.02
- 2 .1 2
1.46
2.43
-3.09

$7.71
6.85
9.85
4.71
.29
4.42
2.21

$9.36
5.33
8.52
6.17
.51
5.66
2.62
3.04
.33
1.51
1 .8 6

$9.77
4.05
6.55
7.27
.62
6.65
2.92
3.73
.60
1.28
3.05

$5.26
2.62
.77
.85
1.60

$5.06
2.85
1.07
1.29
.99
1.69

$6.05
3.26
.58
1.82
.91
1.38

$6.65
3.52
.90
2.26
.81
1.21

$0.72
1.15
.76
.06
.70
.35
.35
.08
.20
.23

$0.56
.57
1.52
.13
1.39
.54
.85
.02
.16
.71

$0.82
1.03
.36
.03
.33
.28
.05
.01
.01
.05

$0.71
1.57
.04
.05

13.25
13.1+8

15.16
15.87

10.21+
10.29

13.32
12.91

Am ounts per $100 of total capital accounts1
Net current operating earnings...........................................................
Recoveries, profits on securities, etc.........................................................
Losses and depreciation on assets..............................................................
Net profits before incom e taxes and dividends.............................
Federal and State taxes on net income....................................................
Net profits after incom e taxes..............................................................
Cash dividends declared...............................................................................
Net profits after dividends......................................................................
Other additions to total capital accounts................................................
Other deductions from total capital accounts........................................
Net change in total capital accounts................................................

$8.87
5.38
8.57
5.68
.48
5.20
2.56
2.64
.61
1.51
1.74

$9.82
3.58
3.60
9.80
.82
8.98
3.49
5.49
.16
1.08
4.57

$5.53
7.99
10.01
3.51
.27
3.24
2.77
.47
.15
.18
.44

Special ratios1
Interest and discount on loans per $100 of total loans........................
Interest and dividends or securities per $100 of total securities. . . .
Profits on securities per $100 of total securities....................................
Interest on time and savings deposits per $100 of time and savings deposits
Losses on loans per $100 of total loans....................................................
Losses on securities per $100 of total securities.....................................

$5.95
3.14
.99
1.73
.93
1.37

$7.50
3.12
.88

$3.60
2.86
2.02
.46
.22
.17

$0.87
1.25
.60
.04
.56
.28
.28
.12
.19

-.0 1

.27
-.2 8
.19
.32
-.41

.2 1

2 .2 1

.97
1.51
1.67

H
>
W
2
it
—
o
G
O
o

.83
.41

Average of assets and liabilities:1

1 .0 0

(In thousands of dollars)

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

1,752,372
2,395,327
2,731,244
334,109
7,213,052

24,080
13,997
21,574
1,230
60,881

31,766
35,583
31,083
2,503
100,935

157,398
199,713
148,246
37,092
542,449

423,069
616,475
532,817
93,912
1,666,273

727,074
1,117,320
1,299,029
141,564
3,284,987

388,985
412,239
698,495
57,808
1,557,527

LIABILITIES AND CAPITAL
Demand deposits............................................................................................
Time deposits..................................................................................................
T otal deposits...........................................................................................
Miscellaneous liabilities................................................................................
Total capital accounts..................................................................................
Total liabilities and capital accounts...........................................

3,054,948
3,147,764
6,202,712
44,013
966,327
7,213,052

51,278
51,278
144
9,459
60,881

76,333
14,006
90,339
252
10,344
100,935

286,459
175,556
462,015
9,318
71,116
542,449

735,438
709,139
1,444,577
9,132
212,564
1,666,273

1,226,681
1,603,961
2,830,642
16,074
438,271
3,284,987

2
a
w
H
O
w
>
w
T
f
i
GO

678,759
645,102
1,323,861
9,093
224,573
1,557,527

1 Asset and liability items are averages of figures for December 31, 1938, June 30, 1939, and December 30, 1939.
2 For banks excluded, see footnotes 1 and 2, Table 141.
NOTE:

Minus (-) indicates net loss or net decrease in total capital accounts.




to
C
O

o

20
4

T able 155.

EARNINGS, EXPENSES, AND DISPOSITION OF PROFITS OF INSURED M U TU AL SAVINGS BANKS, 1935-1939
(Amounts in thousands of dollars)

48

56

Number of banks....................................................................................................

18,759
15,649
228
7,412
42,048

20,328
15,581
321
8,241
44,471

25,075
22,489
168
9,224
56,956

18

3,162

6,554
12,889

1.254
1,928
3,111
606
7,270
14,349

34
201
1,360
2,048
3,800
751
7,619
15,813

4
236
1,320
2,141
4,128
700
7,774
16,303

180
1,808
3,361
4,798
931
8,628
19,706

29,843

27,032

26,235

28,168

37,250

2,457
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

4,244
2,250
693
108
1,057
8,352

8,207
781
345
1,163
3,436
13,932

N et earnings, profits and recoveries on assets, etc...........................................

36,810

38,693

36,657

36,520

51,182

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
6,868
11,625

4,874
7,089
3,266
15,229

1,127
13,409
13,810
28,346

2,446
9,914
13,701
26,061

Current operating expenses:
Interest and discount on borrowings..........................................................................
Directors’ and professional fees...................................................................................
Officers’ salaries................................................................................................................
Employees’ salaries and wages.....................................................................................
Taxes (other than on income).....................................................................................
Other expenses of occupancy and maintenance of banking quarters.................
Other current operating expenses................................................................................
Total current operating expenses....................................................................

0)
23,049
3124

Net current operating earnings................................................................................
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...............................
T otal profits on assets sold, recoveries, etc..................................................




(4
)

12
6

CORPORATION

18,893
16,551
132
5,805
41,381

INSURANCE

20,769
17,152
104
4,707
42,732

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

1939

1937

1936

FEDERAL

1935

(5
)
(5
)

8,174

25,121

21,420

8,166

25,092

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

19,262
407
19,669

19,304
393
19,697

26,550
359
26,909

-11,531

-1,817

27,068
6

21,428

28,335

27,062

22,132
297
22,429

19,607
479
20,086

5,906

Net profits before income taxes and dividends..................................................
Federal and State taxes on net income.........................................................................
Net profits available for distribution to depositors and for addition to
capital fu n d s..................................................................................................................

6,976

Net profits after interest and dividends.............
Other additions to capital accounts:
Preferred capital sold (par or face value)..............
Premiums on new capital sold..................................
Deposits waived and subordinated..........................
Assessments and other contributions......................
T otal other additions to capital accounts.

8

29

1,576

1,050

81

35
1,085

Other deductions from capital accounts:
Preferred capital retired (par or face value)..........................
Premiums on preferred capital retired....................................
Payments to depositors on waived or subordinated claims.
T otal other deductions from capital accounts........

24
105

26
591

25
159
40
199

5,935

1,664

-10,525

-1,991

Total capital accounts at beginning o f year...................................
Total capital accounts at end of year..............................................

125,772
131,707

131,707
133,371

132,670
122,11*5

15k, 520
152,529

244
1,183

250
1,238

232
1,217

273
1,858

Number of active officers, December 31. . .
Number of other employees, December 31.
Included with “ interest paid on capital notes and debentures.”
Includes “ income taxes.”
“ Depreciation on banking house, furniture and fixtures” only.
Included with recoveries.
Not available. See footnote 2.
Not available.

See the Annual Report for 1938, page 120.

BANKS

1
2
3
4
5
6

INSURED

Net change in total capital accounts for year..................

O
F

18
18

EARNINGS

21
1,597

44
44

(8
)

N O TE. Minus (-) indicates net loss or net decrease in total capital accounts
Back figures— 1934: see the Annual Report for 1938, p. 236.

205




206

SUSPENSIONS, RECEIVERSHIPS, AND MERGERS
Table 156.

NUM BER AND DEPOSITS OP BANKS WHICH SUSPENDED OPERATIONS, 1934-1939

GROUPED ACCORDING TO CLASS OF BANK AND BY YEAR, AMOUNT OF DEPOSITS, AND STATE
Number

Deposits (in thousands of dollars)1

Insured banks

Insured banks

Total
Total

National

6

189

82

125,927

85,546

14,566

8
22
40

State

Non­
insured
banks2

48
8
3

36,937
9,852
11,412

1,952
9,005
10,820

40
5,263
507

Total
Total

Members F. R.
System
National

292

210

15

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

57
34
44

9
26
41

1
4
1

1937 ....................................................................
1938
..............................................................
1939
..............................................................

59
56
42

53
49
32

4
1
4

2
1
3

47
47
25

6
7
10

19,722
313,007
34,997

19,242
11,969
32,558

7,379
36
1,341

Banks with deposits of— 1
$100 000 or less
..........................
$100,000 to $250,000
..................................
$250 000 to $500 000 ....................................

120
88
45

84
68
28

2
2
6

2
1

82
64
21

36
20
17

6,941
13,982
15,536

4,964
10,937
9,518

19
8
8

16
8
5

1
2
2

15
5
2

3

1
1

3

13,397
11,184
26,104

11,053
11,184
16,223

2
1

$5 000 000 to $10 000 000
$10 000 000 to $50 000 000

2
1

Not available

•

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

State
Alabama
Arkansas
California
Colorado
Connecticut

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

1
5
1
1
2

1
2

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

6
7
29
8
9

5
5
12
4
4

1

1

Georgia
Illinois
IndiRnE




17,116
21,667

100
1,081
84
8
1,514

1

10,155
11,722
6,588

480
31,038
2,439

76
376
2,062

313
365

4,888
10,248
7,091

1,977
3,045
6,018

507
3,456
8,089

10,546
6,385
5,274

2,344

1,343
2,860

726
3,884
5,513
4,805
688

692
3,743
3,225
4,097
296

1
2
17
4
5

9,881

21,667

100
1,081

1
1
5
4
12
3
4

1,708
211
24,629

21,667

1

1

34,985
847
592

(3
)

1
5
1

1,912
3,742
10,313

17,116

1
1
5

40,381

(3
)
100
1,081
84
8
1,514

8
1,050

464
102
3,594

692
3,641
3,225
503
296

34
141
2,288
708
392

CORPORATION

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

44,432

INSURANCE

$500 000 to $1 000 000
$1 000 000 to $2 000 000
$2 000 000 to $5 000 000

26,548

Non­
insured
banks2

DEPOSIT

Calendar year
1934
1935
1936

State

Not
members
F. R.
System

FEDERAL

Not
members
F. R.
System

Members F. R.
System

ICentucky........
Louisiana.........
Maryland........
Michigan.........
Minnesota. . . .

New Y ork. . . .
North Dakota.
Ohio..................
Oklahoma........
Pennsylvania. .

Virginia............
West Virginia.
Wisconsin........

4

2

30
3
4
10

1
2

16

4
4

1

21

8

15

1

3
3
16

16
3
1
2
3
2
30
2
3
6
16
1
4
2
1
19
8
14
1
1
2
16

4
1

6,035
1,697
669
3129
552

4,229
1,654
669
81
552

3
8

153
6,494
213
807
52,045

153
4,446
213
532
29,931

2
1
3
2
2

9,041
1,239
2,964
742
7,059

1,982
1,224
2,242
678
6,592

1

305
2,706
1,679
3,380
2,479

136
2,706
1,389
2,952
2,479

1,025
1,649
4,462

558
1,649
3,743

2

14

2
1
2
4

1 Deposits of insured banks are as of date of suspension; deposits of noninsured banks are as of latest report prior to suspension.
thousands of dollars.
2 Excludes noninsured banks operating under restrictions or moratoria which were placed in receivership or liquidation.
3 Deposits of 1 private noninsured bank in Michigan not available.

2,755
1,654
669
81
267

285

26,235

153
4,446
173
338
3,696

275
22,114
7,059
15
722
64
467

1,982
261
4,824

36
495
410

211

136
1,988
1,389
2,916
2,479
63
1,239
3,743

2,048

169
290
428
467
719

Figures for each bank are rounded to

For additional information and for reconcilement of figures relating to number of suspensions, receiverships, and mergers with FDIC aid, see pages 78-79.

MERGERS




348

1,224
1,981
678
1,768

40
194

507

1,806
43

A D
N

NOTE:

1,474

RECEIVERSHIPS,

South Carolina
South Dakota.
Tennessee........
Texas................
Vermont...........

1
2

SUSPENSIONS,

Mississippi
Missouri..........
Montana..........
Nebraska.........
New Jersey . . .

17
3

to
-3

o

Table 157.

NUM BER AND DEPOSITS OF AND DISBURSEMENTS TO INSURED BANKS MERGED WITH THE FINANCIAL A lD
o f 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 i o n , 1935-1939
GROUPED ACCORDING TO CLASS OF BANK AND BY YEAR, AMOUNT OF DEPOSITS, AND STATE
Number

National

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

23

2

14
11

2
4
7

1
1
1

4
3

6

3
11
1
1
21




14,235

10,947

54,539

4,357
1£
ID
1ft 9Qfi
50,054
125,145

2 166
12*246
4,631
18,100

3,734
648
22,564
1,187

4,357
10 796
5 402
22*859
105,858

2,865
6 784
7*116
21,385
41,571

782
4,940
1,810
6,703

1,552
97
8,595
703

2,865
4 450
2*079
10,980
34,165

1,426
3,374
5,434

161
127
2,185

1,265
3,247
3,249

643
1,238
2,487

71
23
695

572
1,215
1,792

648
1,187
3,734

7,127
10,177
18,029

5,184
6,164
18,244

7,909

32,872
73,306

16,506
29,255

2,769

22,564

143
97
17
2,049
1,234

143
97

29
3,616
5,769

24
14
19
20

1

9

1

6

10,933
15,308
40,482

3,158
3,944
18,719

5
2

41,721
95,870

8,849

428
274
29
4,780
5,769

428
274

1

7

1
1

3

Michigan............................................................
Missouri..............................................................
Montana.............................................................
New Hampshire...............................................
New Jersey........................................................

79,721

19
9

1

3

2
3
3
3
2

149,272

6

2

3
1

1
3
3
3

1
1

1

1

11

1
1
6

1

3

12

4,840
240
3,528
3,707
3,042
12,221
1,876
83
297
144,279

1,164

1.246
240
3,528
3,707
809

3,594

2,233
1,729
83
297
13,084

3,734

24,399

6,758
1,876
106,796

1,220

97
703
1,552

3,539
4,241
8,783

8,595

1,548

13,737
20,660

17
1,855
1,234

194

1,011

797
72
1,093
2,374
266

214

72
1,093
2*374
1,564

1,298

4,797
582
27
117
51,214

730

1,552

2,515
582

27
117
6,501

9,395

35,318

CORPORATION

$5,000,000 to $10,000,000..............................
$10,000,000 to $50,000,000...........................
More than $50,000,000...................................

Iowa.....................................................................
Kansas.................................................................
K entucky............................................................
Maryland............................................................
Massachusetts...................................................

State

28,133

1

6

1
1
1
8

National

Banks not
members
F. R.
System

37,143

1

13

Georgia................................................................
Illinois.................................................................
Indiana................................................................

Banks members
F. R. System

214,548

21

1
6

$2 000 000 to $5,000,000................................

State
Alabama..............................................................

Total

1
10

15

State

Disbursement (in thousands of dollars)2

78

23

1
27
25
24
28

2
0

National

Banks not
members
F. R.
System

INSURANCE

Banks with deposits of— 1
$ 100,000 or less.................................................
$100,000 to $250,000.......................................
$250,000 to $500,000.......................................

State

Total

Banks members
F. R. System

DEPOSIT

105

Banks not
members
F. R.
System

FEDERAL

Total

Calendar year
1935......................................................................
1936
...............................................
1937
.............................................
193 8
193 9

Deposits (in thousands of dollars)1

Banks members
F. R. System

12,289
869
2,167
586
6,564

11,555

South Dakota.
Tennessee........
Texas................
Virginia............
Wisconsin........

127
322
78
4,085
2,068

734
869
2,167
149
4,504

127

437
2,060

322
4,085
2,068

3,900
292
1,262
84
4,305

3,463

23
114
44
2,364
942

23

52
1,332

437
292
1,262
32
2,973
114

44
2,364
942

1 Deposits are as of date of examination prior to loan, computed from figures for each bank rounded to thousands of dollars.
2 Principal of loans and purchase price of assets as shown by books of FDIC, December 30, 1939, computed from figures for each bank rounded to thousands of dollars.
Does not include preliminary and field liquidation expenses, or advances for the protection of assets, incident to the transaction.
NO TE:

For additional information and for reconcilement of figures relating to suspensions, receiverships, and mergers with FDIC aid, see pages 78-79.

RECEIVERSHIPS,
AD
N
MERGERS

209




SUSPENSIONS,

New Yor k. . . .
North Carolina
North Dakota.
Oklahoma........
Pennsylvania. .

20
1

T able 158,

N u m b e r a n d D e p o s i t s o f I n s u r e d B a n k s P l a c e d in R e c e i v e r s h i p o r M e r g e d w i t h t h e F i n a n c i a l A id
o f t h e F e d e r a l D e p o s i t I n s u r a n c e C o r p o r a t i o n , 1934-1939
GROUPED ACCORDING TO CLASS OF BANK AND BY YEAR, AMOUNT OF DEPOSITS, AND STATE
Number

Deposits (in thousands of dollars)1

National

293,634

48,115

54,681

190,838

65

1,952
13,058
27,735

40
5,263
2,673

3,734

1,912
7,795
21,328

13
5
11

59
67
45

33,011
60,175
157,703

16,031
4,667
19,441

2,356
22,775
25,816

14,624
32,733
112,446

4
3

103
81
31

6,369
13,983
15,230

237
503
4,247

313
365

6,132
13,167
10,618

24

12

7

21,986
26,492
50,316

3,665
7,400
23,214

648
2,530
6,594

17,673
16,562
20,508

5
2

41,721
117,537

8,849
44,231

32,872
73,306

528
1,081
8
1,514
274

428

10

Georgia.
Illinois..
Indiana.
Iowa. . .
Kansas.
FRASER

Digitized for


107
86
44

12

30
19
16

5
5
7

6
4

721
5,728
8,994
5,343
536

100

1,081

8

464
274
1,164
’ 3,594'

1,050

102

721
4,462
8,994
1,749
536

CORPORATION

State
Alabama.. ..
Arkansas. . . .
Colorado... .
Connecticut.
Florida.........

System

INSURANCE

$5,000,000 to $10,000,000. .
$10,000,000 to $50,000,000.
More than $50,000,000........

State

21

1937.
1938.
1939.

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

National

Banks not
members
F. R.

265

312

Calendar year
193 4
193 5
193 6

Banks with deposits of — 1
$100,000 or less............................
$100,000 to $250,000.................
$250,000 to $500,000.................

Banks members F. R.
System
Total

DEPOSIT

United States— total.

State

Banks not
members
F. R.
System

FEDERAL

Banks members F. R.
System
Total

Kentucky...........
Louisiana...........
Maryland...........
Massachusetts. .
Michigan...........

New Hampshire
New Jersey
New Y ork.........
North Carolina.
North Dakota. .

Tennessee...........
Texas..................
Vermont.............
Virginia..............
West Virginia. .
Wisconsin...........

3

2

552
153
6,322
296
532
297
174,210
14,271
869
3,391

297
13,084
13,537

2,242
1,179
13,156
136
2,833

261
437
6,884

2
2

41
4
4

41

1
6

31

18

4
26

4
26

1

2

1

5
7

4
4

22

19

12

12

1

1

16

14

1
6

1
4
2

3
24

deP° SitS ° f ^

24
^

^

^

3,734

285

° f F° IC ‘° anS

1,867
3,030
2,479
4,643
1,649

267
153
6,322
173
338

123
194

634

495
410

5,811
aS ° f date 0t

50,634

211

110,492
734
869
3,391
1,981
742
6,272
136
1,988
1,867
2,916
2,479
4,148
1,239
5,811
‘ o loan.




MERGERS

«0n,1N ? I EL F ' T
0
forf I93- incl^de 1 bank (case no. 90) placed in voluntary liquidation. Figures for 1938 include 1 noninsured bank (case no. 162) which suspended sub7
FDIC aid see™?ges°78^79
msured status- For additional information and for reconcilement of figures relating to number of suspensions, receiverships, and mergers with

AD
N

Figure?for eac^bank are^rounded ^ o u T a ^ d d la r ^ * 6 ° f

4

2,233
1,729

6,077
1,654
4,376
809
6,903

RECEIVERSHIPS,

Ohio....................
Oklahoma..........
Pennsylvania. . .
South Carolina.
South Dakota. .

2
6

1,474

SUSPENSIONS,

Minnesota.........
Mississippi........
Missouri.............
Montana............
Nebraska...........

7,551
1,654
4,376
3,042
12,366

4

to

T a b le 1 59 .

N u m b e r AND DEPOSITS OF BANKS WHICH SUSPENDED OPERATIONS, 1939
Deposits (in thousands of dollars)1

Number

Insured banks

Insured banks
Not
members
F. R.
System

Members F. R.
System

Total
Total

National

22
1

GROUPED ACCORDING TO CLASS OF BANK AND BY AMOUNT OF DEPOSITS AND STATE

State

Non­
insured
banks

Total
Total

Members F. R.
System
National

State

Not
members
F. R.
System

Non­
insured
banks

4

3

25

10

34,997

32,558

1,341

24,629

6,588

2,439

$100,000 to $250,000.......................................
$250,000 to $500,000
..................................

14
10
9

8
9
X

1
3

1

8
7
5

6
1
1

790
1,507
3.064

510
1,320
2.694

182
1,159

102

510
1,036
1,535

280
187
370

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

.

....

7

5

5

2

5,109

3,507

3,507

1,602

1

2,860

2,860

2,860

1

1

1

21,667

21,667

21,667

State
Arkansas
C onnecti cut
Illinois
Indiana
Iowa

1
1
1
2
2

1
1
1
1

1

192
464
102
149
444

192
464
102
137

3
7
1
1
1

1
3
1
1
1

1

220
2,713
285
89
119

58
907
285
89
119

1
4
3
1
1

1
4
2
1
1

96
26,087
137
117
706

96
26,087
122
117
706

2
4
1
1
4

2
4
1
1
4

925
481
182
410
1,079

925
481
182
410
1,079

Kansas
Kentucky
Minnesota
Missouri
Montana
Nebraska
New Jersey
North Dakota
Oklahoma
Pennsylvania
Tennessee
Texas
Virginia
West Virginia
Wisconsin

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

...
...

.

....

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

1
1
1

1
2

1
3

2
4

1
1
2

1
1

1
2
2
1
1
2
4
4

1

1 Deposits of insured banks are as of date of suspension; deposits of noninsured banks are as of latest report prior to suspension.
thousands of dollars.

 For additional information and for reconcilement of figures relating to number of suspensions, receiverships,
NOTE:
http://fraser.stlouisfed.org/
Back figures—See the following Annual Reports: 1938, p. 244 1937, p. 166; 1936, p. 192; 1935, p. 224.
Federal Reserve Bank of St. Louis

192
464
102
137
58
907
285

12
444
162
1,806

89
119
24,527

96
1,560
122
117
706

15

925
481
182
410

1,079

Figures for each bank are rounded to

and mergers with FDIC aid, see pages 78-79.

CORPORATION

1

INSURANCE

1

$5 000 000 to $10 000 000
$10 000 000 to $50 000 000

DEPOSIT

32

FEDERAL

42
Banks with deposits of— 1

T able 160.

N u m b e r AND DEPOSITS OF AND DISBURSEMENTS TO INSURED BANKS MERGED WITH THE FINANCIAL A lD
o f t h e F e d e r a l D e p o s i t I n s u r a n c e C o r p o r a t i o n , 1939
GROUPED ACCORDING TO CLASS OF BANK AND BY AMOUNT OF DEPOSITS AND STATE

Total

Deposits (in thousands of dollars)1
Banks members
F. R. System

National
United States— to ta l........................................
with deposits of — 1
or less.................................................
to $250,000.......................................
to $500,000.......................................

28

7

State

Total

National

2

$5,000,000 to $10,000,000 ............................
$10,000,000 to $50,000,000...........................
More than $50,000,000..................................

4
2

1

State
Florida.....................................
.........
Illinois..................................
.
Indiana................................................................
Kansas................................................................
Kentucky............................................................

1
2
2
1
1

3
4
2

3,927
7,347
13,060

Maryland..........................................................
New Hampshire.............................
...
New Jersey........................................................
New York.............................
Wisconsin.........................

1
1
15
2
2

1

25.978
73,306

8,849

274
186
4,786
94
1,932

1

6,703

35
361
214

10
1
2

249
297
107,317
9,583
'427

1,508
1,187

2,419
6,160
5,888

2,849
2,336
4,175

2,578

10,941
20,660

2,769

97
129
988
20
151

1,187

34,165

97

249
297
8,680
8,849

703

214

274

1
1
4
1

41,571

17,129
73,306

7,172

1

2

105,858

State

97,450
734
427

64
117
36,616
3,206
183

35
361
1,142
703

1,707
1,633
1,597
8,172
20,660

129
988
20
151
64
117
3,720
2,769

703

32,193
437
183

MERGERS

5
5
4

National

Banks not
members
F. R.
System

AD
N

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

1,187

571

2

Banks members
F. R. System

186
4,786
94
1,932

132
824
571

4

2

Total

132
824

18,100

2
2
1
1

4

125,145

3
2

2

20

2

1

State

Banks not
members
F. R.
System

RECEIVERSHIPS,

Banks
$100,000
$100,000
$250,000

Banks not
members
F. R.
System

Disbursement (in thousands of dollars)2

SUSPENSIONS,

Number
Banks members
F. R. System

1 Deposits are as of date of examination prior to loan, computed from figures for each bank rounded to thousands of dollars.
2 Principal of loans and purchase price of assets as shown by books of FDIC, December 30, 1939, computed from figures for each bank rounded to thousands of dollars.
Does not include preliminary and field liquidation expenses, or advances for the protection of assets, incident to the transaction.
For additional information and for reconcilement of figures relating to suspensions, receiverships, and mergers with FDIC aid, see pages 78-79.




213

N O T E:

Back figures— See the Annual Report for 1938, p. 245.

24
1

Table 161,

N u m b e r AND DEPOSITS OF INSURED BANKS PLACED IN RECEIVERSHIP OR MERGED WITH THE FINANCIAL AlD
of t h e

F e d e r a l D eposit I n s u r a n c e C o r p o r a t io n , 1939

GROUPED ACCORDING TO CLASS OF BANK AND BY AMOUNT OF DEPOSITS AND STATE

Banks members F. R.
System
Total
State

Banks members F. R.
System
Total
National

State

Banks not
members
F. R.
System

4

45

157,703

19,441

25,816

112,446

10
13
10

1
5

1

10
11
5

642
2,144
3,265

182
1,730

102

642
1,860
1,535

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

10
5
5

2

1
1

8
4
2

7,434
7,347
15,920

’ 7,172

1,187
2,860

5,926
6,160
5,888

1

3
2

25,978
94,973

21,667

17,129
73,306

1

192
464
274
288
4,923

$5,000,000 to $10,000,000..
$lp,000,000 to $50,000,000.
More than $50,000,000------

4
3

State
Arkansas.. . .
Connecticut.
Florida.........
Illinois..........
Indiana........

1
1
1
3
3

Kansas . . . .
Kentucky. .
Maryland. .
Minnesota.
Missouri. . .

2
4
1
1
1

Montana..............
Nebraska.............
New Hampshire.
New Jersey.........
New Y ork...........




1
1
1
19
2

2

1

1
1
1

2
3
2
4
1

1

1
1
1

1
4
1

3

12
1

152
2,839
249
285
89
119
96
297
133,404
9,583

1,508

8,849

192
464
274
186
4,923
152
2,839
249
285
119
96
297
5,680
5,849

25,714

99,010
734

CORPORATION

11

INSURANCE

60

Banks with deposits of$100,000 or less.......................
$100,000 to $250,000.............
$250,000 to $500,000.............

United States— total

DEPOSIT

National

Banks not
members
F. R.
System

FEDERAL

Deposits (in thousands of dollars)1

Number

North Dakota.............................................................................................
Oklahoma.....................................................................................
Pennsylvania................................................................................................
Tennessee..................................................................................................
Texas...................................................................

2
1
1
2
4

Virginia.........................................................................................
West Virginia..........................................................................................
Wisconsin................................................................................................

1
1
6

2
1
1
2
4

122
117
706
925
481

6

182
410
1,506

1
1

122
117
706
925
481
182
410
1,506

NOTE:

For additional information and for reconcilement of figures relating to number of suspensions, receiverships, and mergers with FDIC aid, see pages 78-79.

Back figures— See the Annual Report for 1938, p. 246.

RECEIVERSHIPS,
AD
N
MERGERS

215




SUSPENSIONS,

1 Deposits of banks placed in receivership are as of date of suspension; deposits of banks merged with the aid of FDIC loans are as of date of examination prior to loan,
rigures for each bank are rounded to thousands of dollars.

T able 162.

ACCOUNTS AND DEPOSITS OF AND DISBURSEMENTS TO INSURED BANKS MERGED WITH THE FINANCIAL A lD
o f t h e F e d e r a l D e p o s i t I n s u r a n c e C o r p o r a t i o n , 1935-1939

01

bank1

Number
O
I
accounts2

Disbursement3
Total
deposits2

Absorbing bank
Date

Amount
$79,725,027

12,324
46,258
56,300
159,682
302,769

Calendar year
1935 ( 1 b an k )..........................................................
1936 (27 banks)........................................................
1937 (25 banks)........................................................
1938 (24 banks)........................................................
1939 (28 banks)........................................................

4,356,778
16,698,882
18,294,152
50,054,822
125,142,006

2,864,893
6,784,510
7,115,912
21,386,133
41,573,579

FEDERAL

577,333 $214,546,640

Total, 1935-1939 (105 b a n k s).................................

216

Class
Name and location

1939
247,878

January 13, 1939

125,175

People’s Bank of Coloma
Coloma, Wisconsin (Hancock branch)

The Hillsboro-Queen Anne Bank, Incorporated
Hillsboro, Maryland............................................

C

1,660

248,816

January 23, 1939

63,708

The Liberty Bank
Easton, Maryland (Hillsboro branch)

The American National Bank of Camden
Camden, New Jersey...........................................

A

3,616

799,517

February 6, 1939

642,908

Camden Trust Company
Camden, New Jersey

Groveton National Bank
Groveton, New Hampshire................................

A

1,781

296,948

February 14, 1939

117,476

Peoples National Bank of Groveton4
Groveton, New Hampshire

North Camden Trust Company
Camden, New Jersey...........................................

C

4,227

820,079

February 14, 1939

516,857

Camden Trust Company
Camden, New Jersey

St. Joseph County Savings Bank
South Bend, Indiana...........................................

M

2,853

1,583,623

February 16, 1939

385,082

The St. Joseph Loan & Trust Company
South Bend, Indiana...........................................

C

7,548

3,202,039

February 16, 1939

602,629

The First National Bank & Trust Company of
Blackwood, New Jersey......................................

A

4,698

707,893

February 20, 1939

499,353

Camden Trust Company
Camden, New Jersey (Blackwood branch)

Peoples State Bank
Frankfort, Kentucky...........................................

C

2,840

1,931,792

February 23, 1939

151,475

Farmers Bank and Capital Trust Company
Frankfort, Kentucky

The First National Bank in Brooksville
Brooksville, Florida.............................................

A

1,194

273,957

February 27, 1939

97,131

Rahway Trust Company
Rahway, New Jersey. .

B

3,797

1,187,474

March 13, 1939

703,427

C

441

179,081

March 20, 1939

57,567

Eden State Bank

Eden,
 Wisconsin..........


! St. Joseph Bank and Trust Company4
| South Bend, Indiana

J

Hernando State Bank
Brooksville, Florida
The Rahway National Bank
Rahway, New Jersey
The First State Bank of Campbellsport
Campbellsport, Wisconsin (Eden branch)

CORPORATION

701

INSURANCE

C

DEPOSIT

Bank of Hancock
Hancock, Wisconsin.............................................

The First National Bank of Plainfield
Plainfield, New Jersey.........................................

A

13,877

4,080,256

April 10, 1939

2,007,973

Bank of Brussels
Brussels, Illinois.....................................................

C

575

147,806

April 14, 1939

114,170

The Trust Company of New Jersey
Jersey City, New Jersey.......................................

C

111,420

48,822,331

April 21, 1939

14,021,674

West Bergen Trust Company
Jersey City, New Jersey......................................

C

11,569

2,685,558

April 21, 1939

994,421

Columbia Trust Company of New Jersey
Hoboken, New Jersey...........................................

C

4,460

1,484,016

May 1, 1939

745,358

Hudson Trust Company
Union City, New Jersey.......................................

C

32,944

24,484,047

May 1, 1939

6,638,402

Bank of Eden
Eden, New York.....................................................

C

1,433

734,482

May 1, 1939

437,447

Bank of Gowanda
Gowanda, New York (Eden branch)

Gloucester City Trust Company
Gloucester City, New Jersey..............................

C

7,529

1,160,203

June 5, 1939

351,634

Camden Trust Company
Camden, New Jersey

Commonwealth Trust Company
Union City, New Jersey.......................................

C

13,044

5,762,735

June 5, 1939

2,593,951

Commonwealth-Merchants Trust Company
Union City, New Jersey

Merchants Trust Company
Union City, New Jersey.......................................

C

16,393

5,592,711

June 5, 1939

3,119,205

Commonwealth-Merchants Trust Company
Union City, N . J. (Merchants branch)

West Hudson County Trust Company
Harrison, New Jersey...........................................

C

15,186

5,772,528

June 28, 1939

2,459,243

Kearny National Bank
Kearny, New Jersey..............................................

A

13,469

3,091,595

Rardin State Bank
Rardin, Illinois........................................................

C

322

37,798

August 31, 1939

15,148

The Egg Harbor Commercial Bank
Egg Harbor City, New Jersey............................

C

4,167

864,567

October 9, 1939

752,773

The Farmers State Bank
Cuba, Kansas..........................................................

C

398

93,775

The Yonkers National Bank and Trust Company
Yonkers, New York...............................................

A

20,627

8,848,501

The Plainfield National Bank
Plainfield, New Jersey
Bank of Calhoun County
Hardin, Illinois
The Trust Company of New Jersey
Jersey City, New Jersey

I Hudson Trust Company
[
Union City, New Jersey

December 4, 1939

20,376
2,768,667

The Charleston National Bank
Charleston, Illinois
Egg Harbor City Trust Company
Egg Harbor City, New Jersey
Agenda State Bank
Agenda, Kansas
Yonkers National Bank and Trust Company4
Yonkers, New York

NOTE:

For additional information and for reconcilement of figures relating to suspensions, receiverships, and mergers with FDIC aid, see pages 78-79.




1938, p. 248; 1937, p. 180; 1936, p. 202.

217

1 AT ^ at,i?nal bank member of the Federal Reserve System; B~State bank member of the Federal Reserve System; C— Commercial bank not member of the Federal Reserve
bystem; M — Mutual savings bank not member of the Federal Reserve System.
2 Number of accounts and total deposits are as of date of examination prior to loan.
®Principal of loans and purchase price of assets as shown by books of FDIC, December 30, 1939. Does not include preliminary and field liquidation expenses, or advances
for the protection of assets, incident to the transaction.
4 Newly organized bank.

Back figures— See the following Annual Reports:

MERGERS

November 27, 1939

570,349

AD
N

June 28, 1939

West Hudson National Bank of Harrison
Harrison, New Jersey

RECEIVERSHIPS,

l

|

SUSPENSIONS,

The Trust Company of New Jersey
Jersey City, N . J. (West Bergen branch)

28
1

A sse ts

PURCHASED BY THE FEDERAL DEPOSIT INSURANCE CORPORATION TO FACILITATE COMPLETION OF LIQUIDATION OF
I n s u r e d B a n k s in R e c e i v e r s h i p , 1939
AS SHOWN BY BOOKS OF FDIC, DECEMBER 31, 1939

Name and location

Class
of
bank1

Amount of deposits
Date of
suspension

Total

Insured

Assets purchased
Date

31

Friendship State Bank

10

143
110

December 7, 1935

125,302

118,093

June 30, 1939

1,931

C

January 3, 1935

589,684

559,926

July 28, 1939

9,800

C

April 2, 1938

367,005

353,513

November 20, 1939

36,375

B

October 2, 1937

364,592

316,429

December 16, 1939

7,000

C

Cliffside Park Title Guarantee & Trust Company
Grant wood, New Jersey..................................................................
Margate Trust Company
Margate City, New Jersey.............................................................
The Raritan Trust Company
Perth Amboy, New Jersey..............................................................

bank member of the Federal Reserve System; C— Commercial bank not member of the Federal Rererve System.




57,201

1,006,488

July 15, 1936

i b — State

February 27, 1939

1,117,196

C

CORPORATION

D ’Auria Bank & Trust Company

INSURANCE

$112,307

$2,563,779 $2,354,449
62

Amount

DEPOSIT

Case
number

FEDERAL

T a b le 163.

T a b le 164.

Case
number

L ist OF INSURED BANKS PLACED IN RECEIVERSHIP, 1939

Name and location

Year of
organiza­
tion

C
A
C

1934
1902
1928
1906
1909

January
January
January
January
January

February
February
February
February
March 4,

Date of
suspension

176
177
178
179
180

Oconto County State Bank, Oconto Falls, Wisconsin........................
The First National Bank of Preston, Preston, Minnesota................
First State Bank, Elgin, Texas................................................................
First State Bank, Marquez, Texas..........................................................
Bank of Scranton, Scranton, North Dakota.........................................

181
182
183
184
185

The Farmers Bank of Newtown, Newtown, Missouri........................
Farmers State Bank in Merkel, Merkel, Texas...................................
The Coudersport Trust Company, Coudersport, Pennsylvania. . . .
The New Jersey Title Guarantee & Trust Co., Jersey City, N . J . . . .
The Bank of Rocky Hill, Rocky Hill, Kentucky.................................

B
C

1919
1930
1904
1888
1903

186
187
188
189
190

The Point Pleasant National Bank, Point Pleasant, W . Va.............
State Bank of Forestville, Forestville, Wisconsin...............................
The Fulton State Bank, Fulton, Indiana..............................................
State Bank of Bremen, Bremen, North Dakota..................................
Merchants & Farmers Bank, Atkins, Arkansas....................................

A
C
C
C
C

1900
1909
1904
1909
1903

March
March
March
March
March

191
192
193
194
195

Bank of Amorita, Amorita, Oklahoma...................................................
Tatum State Bank, Tatum, Texas..........................................................
Ripley Savings Bank & Trust Co., Ripley, Tennessee.......................
The Parksley National Bank, Parksley, Virginia................................
Bank of Hartland, Hartland, Wisconsin................................................

C
A
C

1901
1927
1903
1902
1894

196
197
198
199
200

Glendive State Bank, Glendive, Montana............................................
The Hamilton Trust Company of Paterson, Paterson, N . J.............
The Plantsville National Bank, Plantsville, Connecticut..................
Pleasantville Trust Company, Pleasantville, New Jersey.................
Providence Citizens Bank, Providence, Kentucky..............................

C
B
A
C
C

201
202
203
204
205

The Farmers State Bank, Cato, Wisconsin...........................................
First State Bank of O’Fallon, O’Fallon, Illinois...................................
Security State Bank, Lawrence, Nebraska............................................
Commercial Bank of Liberty, Liberty, Kentucky...............................
The State Bank of Liebenthal, Liebenthal, Kansas............................

C
B

206
207

Maynardville State Bank, Maynardville, Tennessee..........................
The Tuckerton Bank, Tuckerton, New Jersey.....................................

c
c
c
c
c

20,
26,
24,
27,
27,

1939
1939
1939
1939
1939

State banking authority
FDIC
State banking authority
State banking authority
FDIC
State
State
State
State
State

March 27, 1939
March 27, 1939
March 31, 1939
March 31, 1939
April 3, 1939

FDIC
State banking authority
State banking authority
FDIC
State banking authority

April 6, 1939
May 2, 1939
April 28, 1939
May 18, 1939
May 29, 1939

April 18, 1939
May 12, 1939
May 16, 1939
June 2, 1939
June 13, 1939

FDIC
State banking authority
State banking authority
FDIC
State banking authority

1909
1900
1925
1911
1920

June 15, 1939
June 17, 1939
June 24, 1939
June 30, 1939
September 1, 1939

June 26, 1939
June 28, 1939
July 13, 1939
July 10, 1939
September 18, 1939

State banking authority
State banking authority
FDIC
State banking authority
State banking authority

1914
1921
1914
1895
1917

September 15, 1939
August 28, 1939
October 3, 1939
November 25, 1939
December 6, 1939

September 25, 1939
October 23, 1939
November 2, 1939
December 20, 1939
December 18, 1939

State
State
State
State
State

1921
1889

December 11, 1939
December 27, 1939

January 17, 1940
January 8, 1940

State banking authority
State banking authority

7, 1939
8, 1939
18, 1939
18, 1939
23, 1939

banking
banking
banking
banking
banking

banking
banking
banking
banking
banking

authority
authority
authority
authority
authority

authority
authority
authority
authority
authority

1 A— National bank member of the Federal Reserve System; B— State bank member of the Federal Reserve System; C— Commercial bank not member of the Federal Reserve
System.
tO
Back data— See the following Annual Reports:




1938, p. 250; 1937, p. 170; 1936, p. 193; 1935, p. 225.

MERGERS

February 16, 1939
February 15, 1939
February 20, 1939
February 23, 1939
March 29, 1939

2, 1939
3, 1939
4, 1939
11, 1939
1939

AD
N

c
c
c
c
c

January
January
January
January
January

Receiver

RECEIVERSHIPS,

c
c

4, 1939
5, 1939
9, 1939
16, 1939
16, 1939

Date of first payment
to depositors
by FDIC

SUSPENSIONS,

Class
of
bank1

I^
—

ZD

to

to

o
T a b le 165,

ASSETS OF INSURED BANKS PLACED IN RECEIVERSHIP, 1934-1939
AS SHOWN BY BOOKS OF BANK AT DATE OF SUSPENSION

Name and location

Cash and
due from
banks

United
States
Government
securities

Other
securities

Banking
Other real
Loans, dis­
house,
estate
counts, and furniture
overdrafts and fixtures

Other
assets

185,056
1,974,181
2,194,712

603,519
698,440
902,215

273,638
510,479
1,955,104

1,329,865
6,842,116
6,454,624

79,365
459,055
459,700

120,319
242,274
734,874

69,565
1,597,403
273,559

1937 (50 banks).................................................................................
1938 (50 banks).................................................................................
1939 (32 banks).................................................................................

19,283,376
13,919,907
43,925,766

2,238,648
1,610,297
3,329,557

1,293,683
451,570
1,052,424

2,307,696
2,215,638
4,855,519

11,107,699
6,574,061
21,839,422

486,995
412,911
1,845,901

837,966
2,125,022
7,221,558

1,010,689
530,408
3,781,385

13,262
3,725
9,251
10,419

786
250
663
2,552
2,091

1939
176
177
178
179
180

Oconto County State Bank, Oconto Falls, Wisconsin..............
The First National Bank of Preston, Preston, Minnesota. . . .
First State Bank, Elgin, Texas........................................................
First State Bank, Marquez, Texas.................................................
Bank of Scranton, Scranton, North Dakota................................

385,896
304,153
347,165
87,396
152,601

66,165
59,197
116,990
21,678
7,746

15,495
25,450
350

142,576
77,669
114,398
5,656
93

152,502
115,315
94,839
42,759
123,252

8,372
13,010
16,200
5,500
9,000

181
182
183
184
185

The Farmers Bank of Newtown, Newtown, Missouri..............
Farmers State Bank in Merkel, Merkel, Texas....................
The Coudersport Trust Company, Coudersport, Pennsylvania.
The New Jersey Title Guarantee & Trust Co., Jersey City, N . J
The Bank of Rocky Hill, Rocky Hill, Kentucky.......................

114,298
183,386
952,300
30,745.252
163,352

56,841
25,084
72,935
1,411,768
32,174

12,500
30,216
63,505
497,906

1,554
208
373,842
2,699,112

29,616
97,445
414,904
15,860,780
127,274

11,600
20,125
1,150
748,479
1,800

2,179
8,583
10,549
5,896,734

8
1,725
15,415
3,630,473
2,1C4

186
187
188
189
190

The Point Pleasant National Bank, Point Pleasant, W . V a .. .
State Bank of Forestville, Forestville, Wisconsin.......................
The Fulton State Bank, Fulton, Indiana.....................................
State Bank of Bremen, Bremen, North Dakota.........................
Merchants & Farmers Bank, Atkins, Arkansas..........................

460,933
341,556
167,545
60,916
223,056

145,817
71,180
13,683
15,770
49,130

15,900
32,225
1,600
3,160
10,100

25,713
173,079
12,711

12,196
3,842
3,700
4,600
5,571

35,994
1,900
14,829
2,886
1,473

2,851
100
187

20,758

222,462
59,230
120,835
34,500
132,960

1,951
2,985
87,141
2,700
46,619

65,067
23,011
497,004
180,181
192,996

625
2,892
18,514
8,600
22,412

1,690
13,993
75,528
12,204

191
192
193
194
195

Bank of Amorita, Amorita, Oklahoma..........................................
Tatum State Bank, Tatum, Texas.................................................
Ripley Savings Bank & Trust Co., Ripley, Tennessee.............
The Parksley National Bank, Parksley, Virginia.......................
Bank of Hartland, Hartland, Wisconsin.......................................




132,278
46,662
794,312
278,588
455,251

52,532
5,005
153,233
11,160
46,524

12,000
18,425
129,042

3,064
103
11,079
6,002
419
5,454

CORPORATION

2,661,327
12,323,948
12,974,788

INSURANCE

Calendar year
1934 ( 9 b anks).................................................................................
1935 (24 b anks).................................................................................
1936 (42 banks).................................................................................

DEPOSIT

Total, 1934-1939 (207 b a n k s)........................................................ $105,089,112 $11,532,451 $5,001,851 $12,118,074 $54,147,787 $3,743,927 $11,282,013 $7,263,009

FEDERAL

Total

Case
number

162,102
3,734,288
380,181
1,116,010
306,46'i

25,139
367,424
96,456
144,149
76,639

24.000
77,200
15.000
24,00u
150

15,867
310,184
1,501
380,340
56,959

88,314
1,491,862
237,126
326,583
146,424

1,250
778,839
8,661
71,294
10,648

203
204
205

The Farmers State Bank, Cato, Wisconsin.............................
First State Bank of O’Fallon, O’Fallon, Illinois.....................
Security State Bank, Lawrence, Nebraska..............................
Commercial Bank of Liberty, Liberty, Kentucky.................
The State Bank of Liebenthal, Liebenthal, Kansas...............

97,181
50,001
121,341
547,756
59,993

14,944
4,859
18,832
22,326
14,523

7,300
36,900

5,942
7,357
5,095
29,931

73,207
25,201
80,204
450,796
41,994

2,500
2,200
4,090
6,000
2,800

206
207

Maynardville State Bank, Maynardville, Tennessee.............
The Tuckerton Bank, Tuckerton, New Jersey.......................

218,224
735,326

43,989
65,665

54,091
199,487

118,609
172,170

1,535
37,896

200
201

202

6,404
620,445
21,113
167,617
14,654

1,128
88,334
324
2,027
993

500

588
55
520
1,803
176

259,997

111

10,329
5,300

NOTE: Figures for 1937 include 1 bank (case no. 90) placed in voluntary liquidation. Figures for 1938 include 1 noninsured bank (case no. 162) which suspended subsequert to termination of its insured status. For additional information and for reconcilement of figures relating to number of suspensions, receiverships, and mergers with
FDIC aid, see pages 78-79.

AD
N
MERGERS




1938, p. 252; 1937, p. 172; 1936, p. 194; 1935, p. 226.

RECEIVERSHIPS,

Back figures— See the following Annual Reports:

SUSPENSIONS,

Glendive State Bank, Glendive, Montana...............................
The Hamilton Trust Company of Paterson, Paterson, N. J.
The Plantsville National Bank, Plantsville, Connecticut. ..
Pleasantville Trust Company, Pleasantville, New Jersey. ..
Providence Citizens Bank, Providence, Kentucky.................

196
197
198
199

to

K
)

22
2

T able 166,

LIABILITIES OF INSURED BANKS PLACED IN RECEIVERSHIP, 1934-1939
AS SHOWN BY BOOKS OF BANK AT DATE OF SUSPENSION

Name and location

Total
deposits

$105,089,112 $79,088,921

Other
liabilities,
secured

Other
liabilities,
unsecured

R. F. C.
capital

Private
capital
stock

Other
capital
accounts1

$7,630,818

$1,721,658

$5,159,146

$8,784,466

$2,704,103

1,951,992
8,700,485
11,039,098

77,630
1,826,850
46,618

27,333
285,036
47,077

90,000
223.000
788.000

432,100
950,000
1,069,350

82,272
338,577
-15,355

1937 (50 b anks).......................................................................................
1938 (50 banks).......................................................................................
1939 (32 banks).......................................................................................

19,283,376
13,919,907
43,925,766

14,715,286
10,124,255
32,557,805

1,004,807
1,211,407
3,463,506

127,951
1,947
1,232,314

755,250
1,052,900
2,249,996

2,498,815
1,059,200
2,775,001

181,267
470,198
1,647,144

218

30.000
40.000
25.000
30.000
25.000

4,313
-35,512
238
-572
7,432

25.000
25.000
125,000
1,267,500

1939
176
177
178
179
180

Oconto County State Bank, Oconto Falls, Wisconsin.....................
The First National Bank of Preston, Preston, Minnesota.............
First State Bank, Elgin, Texas..............................................................
First State Bank, Marquez, Texas.......................................................
Bank of Scranton, Scranton, North Dakota......................................

385,896
304,153
347,165
87,396
152,601

345,866
284,665
286,927
45,551
93,604

181
182
183
184
185

The Farmers Bank of Newtown, Newtown, Missouri.....................
Farmers State Bank in Merkel, Merkel, Texas.................................
The Coudersport Trust Company, Coudersport, Pennsylvania. ..
The New Jersey Title Guarantee & Trust Co., Jersey City, N. J,
The Bank of Rocky Hill, Rocky Hill, Kentucky.............................

114,298
183,386
952,300
30,745,252
163,352

89,299
130,551
706,322
21,666,907
153,584

186
187
188
189
190

The Point Pleasant National Bank, Point Pleasant, W . Va..........
State Bank of Forestville, Forestville, Wisconsin.............................
The Fulton State Bank, Fulton, Indiana...........................................
State Bank of Bremen, Bremen, North Dakota...............................
Merchants & Farmers Bank, Atkins, Arkansas................................

460,933
341,556
167,545
60,916
223,056

410,475
281,435
137,159
28,032
192,090

191
192
193
194
195

Bank of Amorita, Amorita, Oklahoma.................................................
Tatum State Bank, Tatum, Texas.......................................................
Ripley Savings Bank & Trust Co., Ripley, Tennessee....................
The Parksley National Bank, Parksley, Virginia.............................
Bank of Hartland, Hartland, Wisconsin.............................................

132,278
46,662
794,312
278,588
455,251

116,761
17,160
738,631
181,640
369,520




2,414
6,521

3
44

5,000
15.000
35.000
10.000
20,000

3,400,743

79
2
1,172,969

25,000
100,000
1,732,496

499

20.000

11,500
33

10,000
32

364
40
10
10
4

20,000
15.000
15.000
15.000

53
1,457
72
1

7,500
50,000
25.000
30.000

-1

2,756
20,976
1,504,637
-10,232

30.000
30.000
15.000
15.000

10.000

8,594
10,081
343
2,874
5,962

10,000
17,500
50.000
60.000
30,000

5,517
4,449
-45,776
1,876
25,698

CORPORATION

2,661,327
12,323,948
12,974,788

INSURANCE

Calendar year
1934 ( 9 banks).......................................................................................
1935 (24 b anks).......................................................................................
1936 (42 banks).......................................................................................

DEPOSIT

Total, 1934-1939 (207 b a n k s)..............................................................

Total
liabilities

FEDERAL

Case
number

196
197
198
199

162,102
3,734,288
380,181
1,116,010
306,467

119,158
2,860,013
464,035
936,198
251,430

20B
204
205

The Farmers State Bank, Cato, Wisconsin.............................
First State Bank of O’Fallon, O’Fallon, Illinois.....................
Security State Bank, Lawrence, Nebraska..............................
Commercial Bank of Liberty, Liberty, Kentucky.................
The State Bank of Liebenthal, Liebenthal, Kansas...............

97,181
50,001
121,341
547,756
59,993

82,019
102,485
95,867
502,425
57,911

206
207

Maynardville State Bank, Maynardville, Tennessee.............
The Tuckerton Bank, Tuckerton, New Jersey.......................

218,224
735,326

185,735
624,350

200
201

202

1 Includes surplus, undivided profits, and reserve funds minus operating deficit, if any, as shown by books.

22

20.000

11,835

56,587
138
163

30,000
575,001
25,000
50,000
25,000

12,922
230,852
-133,992
79,649
10,037

10,000

20,000
25,000
25,000
45,000
10,000

-4,883
-81,760
443
-14,669
-17,924

25,000

15,000
50,000

17,477
35,339

25.000
50.000

45
4,276
31
15,000

6

602

Minus (-) indicates net operating deficit.

NOTE: Figures for 1937 include 1 bank (case no. 90) placed in voluntary liquidation. Figures for 1938 include 1 noninsured bank (case no. 162) which suspended sub­
sequent to termination of its insured status. For additional information and for reconcilement of figures relating to number of suspensions, receiverships, and mergers with
FDIC aid, see pages 78-79.

AD
N
MERGERS




1938, p. 254; 1937, p. 174; 1936, p. 196; 1935, p. 227.

RECEIVERSHIPS,

Back figures— See the following Annual Reports:

SUSPENSIONS,

Glendive State Bank, Glendive, Montana........ .......................
The Hamilton Trust Company of Paterson, Paterson, N . J,
The Plantsville National Bank, Plantsville, Connecticut. . .
Pleasantville Trust Company, Pleasantville, New Jersey. . .
Providence Citizens Bank, Providence, Kentucky.................

to

to

CO

24
2

T a b le 167.

DEPOSITS OF INSURED BANKS PLACED IN RECEIVERSHIP, 193 4-1939
AS SHOWN BY BOOKS OF FDIC, DECEMBER 31, 1939

Case
number

Name and location

Total1

Insured2

Secured and
preferred*

Subject to
offset

In excess of
insurance
maximum

Other4

755,533
466,250
634,756

94,719
557,742
618,455

102,785
1,990,048
1,059,477

71,324
8,596
842,443

12,054,255
9,095,325
27,549,901

1,154,908
332,765
438,058

1,066,846
486,598
1,322,249

620,010
229,941
3,319,798

28,107
131,214
167

25,394
10,594
37,475

30,823
22,696
37,812
4,122
7,298

1,859
14,313

Calendar year
1934 ( 9 banks).....................................................................................
1935 (24 banks).....................................................................................
1936 (42 banks).....................................................................................

1,966,832
9,074,405
11,236,277

942,471
6,051,769
8,081,146

1937 (50 banks).....................................................................................
1938 (50 banks).....................................................................................
1939 (32 banks).....................................................................................

14,924,126
10,275,843
32,630,173

$3,782,270

1939
176
177
178
179
180

Oconto County State Bank, Oconto Falls, Wisconsin...................
The First National Bank of Preston, Preston, Minnesota...........
First State Bank, Elgin, Texas............................................................
First State Bank, Marquez, Texas.....................................................
Bank of Scranton, Scranton, North Dakota....................................

345,829
337,182
286,917
45,551
93,604

287,753
289,579
211,630
41,429
86,016

181
182
183
184
185

The Farmers Bank of Newtown, Newtown, Missouri...................
Farmers State Bank in Merkel, Merkel, Texas..............................
The Coudersport Trust Company, Coudersport, Pennsylvania.
The New Jersey Title Guarantee & Trust Co., Jersey City, N . J
The Bank of Rocky Hill, Rocky Hill, Kentucky...........................

89,299
130,550
706,322
21,653,146
153,584

82,640
99,870
626,587
17,936,721
129,803

186
187
188
189
190

The Point Pleasant National Bank, Point Pleasant, W . Va.
State Bank of Forestville, Forestville, Wisconsin.........................
The Fulton State Bank, Fulton* Indiana........................................
State Bank of Bremen, Bremen, North Dakota...........................
Merchants & Farmers Bank, Atkins, Arkansas............................

410,521
281,435
137,159
28,034
192,090

325,252
248,446
122,738
22,359
169,128

46,998
13,135

191
192
193
194
195

Bank of Amorita, Amorita, Oklahoma............................................
Tatum State Bank, Tatum, Texas...................................................
Ripley Savings Bank & Trust Co., Ripley, Tennessee...............
The Parksley National Bank, Parksley, Virginia.........................
Bank of Hartland, Hartland, Wisconsin.........................................

147,247
17,242
738,811
181,551
369,525

115,939
16,093
545,418
176,631
332,634

8,766




271
24,909
145,228
133

10

3,520

15,177

...... 1

6,492
5,771
9,644
630,163
15,727

19
167
70,091
2,941,034
7,921

28,951
11,860
10,963
5,675
11,882

9,320
7,994
3,448

8,463
1,149
84,168
4,920
15,231

14,079

7,560

94,048
‘ 21,659

CORPORATION

$1,081,851

$63,774,867

INSURANCE

$7,322,059

$80,107,656

DEPOSIT

$4,146,609

T otal, 1934-1939 (207 b a n k s)............................................................

FEDERAL

Uninsured, unsecured, not pre­
ferred, and not subject to offset

196
197
198
199

119,158
2,860,013
464,035
936,507
251,430

104,773
2,601,636
417,491
895,238
222,070

203
204
205

The Farmers State Bank, Cato, Wisconsin.............................
First State Bank of O’Fallon, O’Fallon, Illinois.....................
Security State Bank, Lawrence, Nebraska..............................
Commercial Bank of Liberty, Liberty, Kentucky.................
The State Bank of Liebenthal, Liebenthal, Kansas...............

84,952
101,984
96,106
502,150
57,911

71,603
77,461
80,219
388,690
56,033

206
207

Maynardville State Bank, Maynardville, Tennessee.............
The Tuckerton Bank, Tuckerton, New Jersey.......................

185,735
624,593

156,153
611,868

200
201
202

5,437
76,620
5,880

110
11,520

6,880

177,661
35,362
40,853
21,921
4,992
1,825
4,367
46,162
1,878
12,332
12,153

15
4,096
11,182
416
1,559
8,247
22,698
’ 67,298 ’
10,370
572

NOTE: Figures for 1937 include 1 bank (case no. 90) placed in voluntary liquidation. Figures for 1938 include 1 noninsured bank (case no. 162) which suspended sub­
sequent to termination of its insured status. For additional information and for reconcilement of figures relating to number of suspensions, receiverships, and mergers with
FDIC aid, see pages 78-79.
Back figures— See the following Annual Reports:

AD
N
MERGERS




1938, p. 256; 1937, p. 176; 1936, p. 198; 1935, p, 228.

RECEIVERSHIPS,

1 The amount of deposits given in Table 167 does not agree with the amount shown in Table 166 due to the inclusion in Table 167 of deposits subsequently discovered or
reclassified.
2 Includes all deposits paid or to be paid by FDIC.
3 Includes only the portions of secured deposits met or to be met by sale of security and of preferred deposits paid by the receiver.
* Includes (a) deposits barred from insurance because not claimed before the expiration of the period set by law, (b) restricted and deferred deposits not eligible for insurance,
and (c) deposits made after termination of insured status in 1 bank which suspended after its insured status had been terminated.

SUSPENSIONS,

Glendive State Bank, Glendive, Montana...............................
The Hamilton Trust Company of Paterson, Paterson, N . J,
The Plantsville National Bank, Plantsville, Connecticut. . .
Pleasantville Trust Company, Pleasantville, New Jersey. . .
Providence Citizens Bank, Providence, Kentucky.................

to
to

O
r

226

T able 168.

PAYMENTS TO DEPOSITORS OF INSURED BANKS PLACED IN RECEIVERSHIP, 1934-1939
AS SHOWN BY BOOKS OF FDIC, DECEMBER 31, 1939
Insured deposits1

Number of depositors
Case
number

Name and location

Total

Paid by
FDIC

Fully paid
by other
methods2

Unpaid

Not eligible
for
insurance
protection3

Total

Paid

Unpaid

934,603
5,956,001
8,043,429

7,868
95,768
37,717

12,054,255
9,095,325
27,549,901

12,019,211
9,033,868
24,994,110

35,044
61,457
2,555,791

287,753
289,579
211,630
41,429
86,016

287,720
287,630
211,189
40,723
85,106

33
1,949
441
706
910

28,218

37,101

15,733
32,217
43,229

11,247
23,355
30,887

926
2,792
4,598

3,360
5,151
2,500

200
919
5,244

1937 (50 banks)...................................................................................
1938 (50 banks)...................................................................................
1939 (32 banks)...................................................................................

74,068
44,252
90,391

56,647
31,623
67,580

7,671
7,258
4,973

4,494
3,784
17,812

5,256
1,587
26

1939
176
177
178
179
180

Oconto County State Bank, Oconto Falls, Wisconsin................
The First National Bank of Preston, Preston, Minnesota.........
First State Bank, Elgin, Texas..........................................................
First State Bank, Marquez, Texas...................................................
Bank of Scranton, Scranton, North Dakota.................................

1,078
838
1,013
559
477

937
693
706
372
339

111
76
292
92
104

30
69
15
95
34

181
182
183
184
185

The Farmers Bank of Newtown, Newtown, Missouri................
Farmers State Bank in Merkel, Merkel, Texas............................
The Coudersport Trust Company, Coudersport, Pennsylvania.
The New Jersey Title Guarantee & Trust Co., Jersey City, N . J
The Bank of Rocky Hill, Rocky Hill, Kentucky.........................

520
1,090
1,351
37,112
745

400
585
1,253
32,518
538

94
257
51
621
188

248
47
3,973
19

82,640
99,870
626,587
17,936,721
129,803

82,640
96,521
620,338
16,485,461
127,691

3,349
6,249
1,451,260
2,112

186
187
188
189
190

The Point Pleasant National Bank, Point Pleasant, W . Va.. . .
State Bank of Forestville, Forestville, Wisconsin.........................
The Fulton State Bank, Fulton, Indiana.......................................
State Bank of Bremen, Bremen, North Dakota...........................
Merchants & Farmers Bank, Atkins, Arkansas............................

3,565
1,169
501
98
603

2,154
965
375
75
493

565
44
113
17
104

846
160
13
6
6

325,252
248,446
122,738
22,359
169,128

321,067
246,161
122,271
22,334
169,030

4,185
2,285
467
25
98

191
192
193
194
195

Bank of Amorita, Amorita, Oklahoma............................................
Tatum State Bank, Tatum, Texas...................................................
Ripley Savings Bank & Trust Co., Ripley, Tennessee...............
The Parksley National Bank, Parksley, Virginia.........................
Bank of Hartland, Hartland, Wisconsin.........................................

530
177
2,568
820
987

365
142
1,823
666
889

116
29
549
62
66

49
6
196
92
32

115,939
16,093
545,418
176,631
332,634

110,621
15,951
525,013
172,261
331,591

5,318
142
20,405
4,370
1,043




26

CORPORATION

942,471
6,051,769
8,081,146

221,339

INSURANCE

$2,793,645

299,890

Calendar year
1934 ( 9 banks)...................................................................................
1935 (24 b an k s)...................................................................................
1936 (42 banks)...................................................................................

DEPOSIT

13,232 $63,774,867 $60,981,222

T otal, 1934-1939 (207 b a n k s)..........................................................

FEDERAL

Eligible for insurance protection

104,773
2,601,636
417,491
895,238
222,070

102,445
2,565,956
384,192
887,355
221,667

2,328
35,680
33,299
7,883
403

43

1

11

139

126

100

2,409
75

71,603
77,461
80,219
388,690
56,033

71,598
68,582
79,541
221,192
30,263

5
8,879
678
167,498
25,770

744
1,690

156,153
611,868

393
19,204
1,786
4,780
1,545

264
13,504
1,377
3,621
1,137

48
339
176
340
184

203
204
205

The Farmers State Bank, Cato, Wisconsin.............................
First State Bank of O’Fallon, O’Fallon, Illinois.....................
Security State Bank, Lawrence, Nebraska..............................
Commercial Bank of Liberty, Liberty, Kentucky.................
The State Bank of Liebenthal, Liebenthal, Kansas..............

251
434
583
2,997
183

207
284
357
466
75

206
207

Maynardville State Bank, Maynardville, Tennessee............
The Tuckerton Bank, Tuckerton, New Jersey.......................

744
1,690

200
201

202

122

33

156,153
611,868

NOTE: Figures for 1937 include 1 bank (case no. 90) placed in voluntary liquidation. Figures for 1938 include 1 noninsured bank (case no. 162) which suspended sub­
sequent to termination of its insued status. For additional information and for reconcilement of figures relating to number of suspensions, receiverships, and mergers with
FDIC aid, see pages 78-79.
Back

-See the following Annual Reports:

AD
N
MERGERS

227




1938, p. 258; 1937, p. 178; 1936, p. 200; 1935, p. 229.

RECEIVERSHIPS,

Includes all deposits paid or to be paid by FDIC.
Includes all depositors whose claims have been fully paid by counterclaim, by sale of security, or directly by the receiver because of preferred status.
Includes (a) depositors holding deposits barred from insurance because not claimed before the expiration of the period set by law, (b) depositors holding only restricted and
deferred deposits not eligible for insurance, and (c) depositors holding only deposits made after termination of insured status in 1 bank which suspended after its insured
status had been terminated.
1
2
8

SUSPENSIONS,

81
5,361
233
819
224

Glendive State Bank, Glendive, Montana...............................
The Hamilton Trust Company of Paterson, Paterson, N . J
The Plantsville National Bank, Plantsville, Connecticut. ..
Pleasantville Trust Company, Pleasantville, New Jersey. ..
Providence Citizens Bank, Providence, Kentucky.................

196
197
198
199

ACTIONS B Y THE CORPORATION ON APPLICATIONS FROM BANKS
Table 169.

ACTIONS BY THE FEDERAL DEPOSIT INSURANCE CORPORATION UPON APPLICATIONS FROM BANKS NOT MEMBERS OF

th e F e d e r a l R e se rv e
and

A p p roval o f

S y ste m f o r

A d m is s io n t o

In s u r a n c e , A p p r o v a l o f E s ta b lis h m e n t o f B r a n c h e s ,

C h a n g e o f L o c a t i o n o f B a n k i n g O f f i c e s , A u g u s t 23, 1935, t o

N
>

D e c e m b e r 31, 1939

to

00
1935

ADM ISSION TO

1936

1937

1939

1938

in s u r a n c e

165

133

82

85

45

114

111

67

73

110

15

24

38

14

19

58
23
51

17
7
14

Applications approved b u t approval later rescinded 4 ...........................................................
New banks without predecessors.....................................................................................................
Banks operating January 1, 1934, but not insured at beginning of year. ............................
Bank succeeding financial institution not engaged in deposit banking..................................
Insured banks reorganizing or withdrawing from F. R . System:
Conversion of national to State banks......................................................................................
State banks contemplating withdrawal from F. R. System.................................................
Reorganization of insured bank not a member of the F. R. System.................................

24

10

Applications disapproved..................................................................................................................
Banks opening or opening contemplated:
New banks without predecessors.................................................................................................
Closed noninsured banks reopening............................................................................................
Banks replacing closed banks.......................................................................................................
Banks operating but not insured at beginning of year, or successors to such banks:
Bank previously insured............. ....................................................................._
......... .................
Banks operating without restrictions January 1, 1934, not previously insured..............
Banks opened for business since January 1, 1934...................................................................
Banks operating under restrictions3 ............................................................................................
Other financial institutions:
Trust companies not engaged in deposit banking...................................................................
Financial institutions becoming banks of deposit, or banks succeeding institutions not
engaged in deposit banking.......................................................................................................
Insured banks reorganizing................................................................................................................
for FRASER

106

29

40
9
4

6
6

21

’3

14
81
17

1

2

22

1

6

5

2

1

1

25

12

10
5

4

28

4

10

2
1

1

1
1

11

41

10

CORPORATION

Digitized


1

6

INSURANCE

75

410

DEPOSIT

540

Applications approved 1 ......................................... .............................................................................
Banks opening or opening contemplated:
New banks without predecessors.................................................................................................
Successor to suspended insured bank.........................................................................................
Closed noninsured banks reopening............................................................................................
Banks replacing closed banks or branches but not successors thereto...............................
Banks operating but not insured at beginning of year, or successors to such banks:
Banks previously insured2 ..............................................................................................................
Banks operating without restrictions January 1, 1934, not previously insured..............
Banks opened for business since January 1, 1934...................................................................
Banks operating under restrictions3 ............................................................................................
Other financial institutions:
Trust company not engaged in deposit banking.....................................................................
Financial institutions becoming banks of deposit, or banks succeeding institutions not
engaged in deposit banking.......................................................................................................
Insured banks reorganizing or withdrawing from F. R . System:
Conversion of national to State banks.......................................................................................
State banks contemplating withdrawal from F. R. System.................................................
Reorganizations of insured banks not members of the F. R. System...............................

FEDERAL

T otal num ber of applications acted u p o n ................................................................................

Applications disapproved— classified by status of bank, December 31, 1939.............
Plans for organization or reorganization abandoned..................................................................
Banks discontinued operations.........................................................................................................
Banks opened or continued to operate without insurance........................................................
Banks approved for insurance in later years...............................................................................

106
539

29
5

41
13
5

14
9

12

7

10

527
25

12
10

T otal num ber of applications acted u p o n ................................................................................

341

15

Applications approved 1 ......................................................................................................................
To establish additional banking offices:
Establishment of de novo branches6 ..........................................................................................
Conversion of head offices into branches after relocation of banks..................................
To replace banks by branches:
Conversion of absorbed banks into branches...........................................................................
Replacement of closed or relocated banks................................................................................
To continue branches in operation:
Retention of branches in operation at time of admission to insurance or relocation. .
Retention of branches previously operated by absorbed or succeeded banks ................
Replacement of branches discontinued by other banks........................................................
Continuance in operation of branches not previously approved.........................................
Extension of full branch powers to teller’s windows or seasonal offices.............................

298

9

108

7
2

Applications approved b ut approval later rescinded 4 ...........................................................
To establish additional banking offices:
Establishment of de novo branches............................................................................................
Conversion of head office into branch after relocation of bank...........................................
To replace banks by branches:
Conversion of absorbed banks into branches...........................................................................
Replacement of closed bank........................................................................................................

5

8
1
1

93

89

82

62

80

82

72

55

37

33

2

1

16
3

15
3

27
7

28
11

18
7

8

8

4

3

2

1
2
2

22

57

3
3

6

10

13

ESTABLISHM ENT OF BRANCHES

95
29

4

5
27

4
7

1

3

3

1

2
1

17

5

5

5

2

9

3

3

1

2

1

1

6
1

1

1
1

4

1

8

2

5

5

5

7

1

4

5

1

1

1

Applications approved
Banks......................................................................................................................................................
Branches.................................................................................................................................................

55
24

4
3

Application approved b ut approval later rescinded— branch...........................................

1

Applications disapproved— b a n k s.................................................................................................

2

1

CHANGE OF LOCATION OF OFFICES
9
6

15
3

17
5

10

7

1
1

1




229

1 Includes applications disapproved but approved later in the same year.
2 1 of these banks withdrew from insurance at the close of the temporary funds, but immediately applied for readmission to insurance.
In addition, the Corporation approved
application, not tabulated, from a bank which wished to retain its insured status when it reopened after starting voluntary liquidation.
* In some cases, restrictions were removed during the year prior to application for insurance. Most of the banks were restricted on January 1, 1934, but a few were placed
under restrictions during 1934.
4 In most of these cases approval was rescinded because of failure of bank to meet conditions required by the Corporation.
In cases of banks members of the Federal Reserve
System applying for insurance as banks not members, the banks decided to continue as member?, and approval was rescinded in order to close each case.
8 Totals for the 5-year period are adjusted to eliminate banks disapproved more than once.
# Includes conversions or replacements of 4 cooperative banks and 1 trust company not included in FDIC tabulations of noninsured banks.
1

BANKS

1

FO
RM

6

APPLICATIONS

26
22
1

2

O
N

12
8

ACTIONS

Applications disapproved.................................................................................................................
To establish additional banking offices:
Establishment of de novo branches............................................................................................
Conversion of head office into branch after relocation of bank...........................................
To replace banks by branches:
Conversion of absorbed bank into branch................................................................................
Replacement of closed banks.......................................................................................................

11

T a b le 170.

ACTIONS BY THE FEDERAL DEPOSIT INSURANCE CORPORATION ON APPLICATIONS REGARDING

C a p i t a l a n d O t h e r F i n a n c i a l A d j u s t m e n t s , A u g u s t 23, 1935, t o
Number of applications

D e c e m b e r 31, 1939
Amounts involved in applications

1937

1938

1939

Total

Applications approved in full
To retire:
Preferred capital obligations held by R F C ........ 4,853
95

85
4

493

1,834
15
5

1,160
23

1,281 $55,782,169
41
2,096,547
537,270

15
9
38

24

1935

1936

1937

1938

1939

TO APPROVE CAPITAL AD JUSTM ENTS 1

12
2

8

62
44
203

To sell additional capital: 3
Preferred capital obligations to R F C ..................
Preferred capital to others than R F C .................
Common stock...........................................................

13
37
51

3
4
8

8
12

21

1

3

7
3

1

5

39

96

To make miscellaneous capital adjustments:
To convert preferred capital not held by RFC
into common stock .............................................
To pay cash premiums on preferred capital4. . .
To reduce surplus in connection with capital
reductions
.......................................................
Applications approved in part
To retire:
Preferred capital obligations held by R .F .C .. .
Preferred capital not held by R .F .C ...................
Applications disapproved or rescinded 6
To retire:
Preferred capital obligations held by R .F .C .. .
Preferred capital not held by R .F .C ...................
Common stock ........................................................
To reduce or cancel:
Preferred capital obligations held by R .F .C .2. .
Preferred capital not held by R .F .C . 2 ................
Common stock ........................................................




1
2

34

6

9
48

6

409
3

8

681
27

51

194

2
1

6

2

3
11

251
9

1

3.130.345
2,779,055
4,605,130

1,277,375
328,550
1,968,100

1,899,670
258,100
2,616,500

1,250,860
771,402
5,152,850

6 8 ,0 0 0

45.000
323,200

398,800
819.000

577.500
210,450
166.500

905.000
54,295

6

3,029,845
1,016,405
2,309,650

760,000
235,000
323,700

1.624.345
127,155
677,250

5
3

1,376,200
219,001

15,000

70,000

165,000
150,956

31,406

32.000

(5
)
(5
)

(5
)
(5
)

5
3

63,406

78

188
2

103
7

(5
)
(5
)

(5
)
(5
)

82
3

16,456,006
762,094
50,625

2,683,500
26,419
50,000

7

2
2

15

1.400.000
1.607.000
3,202,700

9
9

1

8

4

697,500
475,000
2,035,500

380.000
690.000

1

8

5

$9,525,129 $10,828,296
578,600
545,377
6,600

8,958,250
5,744,107
17,545,280

13
11

1

10

3
40

12

31

2

2

9

16

12

52

$3,344,900 $17,291,224 $14,792,620
398,000
231,200
343,370
76,600
454,070

5,213,965
163,700

3,646,674
288,500

415.000
95,000
858.000

182,500

(5
)
(5
)

1,793,511
159,243
625

2 2 1 ,2 0 0

13,750

(5
)
(5
)

3,118,356
124,232

262,500

2 0 ,0 0 0

2 0 0 ,0 0 0

105,000

CORPORATION

To reduce or cancel:
Preferred capital obligations held by RFC2. . . .
Preferred capital not held by RFC 2 .....................
Common stock...........................................................

1

INSURANCE

1936

DEPOSIT

1935

FEDERAL

Total

To sell additional capital:3
Preferred capital obligations to R .F .C ...............
Preferred capital to others than R .F .C ..............
Common stock..........................................................

1
1

To make miscellaneous capital adjustments:
To convert preferred capital not held by R.F.C.
into common stock...............................................
To pay cash premiums on preferred capital4. . .
To reduce surplus in connection with capital
reductions...............................................................

2
1

5
7

5

1
1
1
2
1
1

4
5

2

2
3

2
2
2

1

125.000

20 0
1 .0 0
277.000

1

20 0
1 .0 0
63,319

20
,0 0

2 ,0 0
00
1 .0 0
00

25.000

170,000
15,819

30,000
165,000
97.000

2 .0 0
00

130,000

75.000

2 .0 0
00
40,000

2 ,0 0
00

47,500

20
,0 0
ACTIONS

TO APPROVE OTHER FINANCIAL
ADJUSTM ENTS7

67

2
0
4
2

5

2
1

1
0
6
1
0

1
1
1

4

14
7

15
4
13
4

2
2

1
2
2
2

6
2
7
1

2
2
1

18

13

8

7

1

3

4
3

7

1

1,137,352
1,534,705
150,500
37,500

3,090,134
2,389,422
828,984
127,972

1,655,950
90,000
482,125
94,328

1,082,231
236,757
373,416
185,000

171,388
159,655
41,500

72,120
50.000
119,216
15.000

18,802
212,700

1,075,300

269,507
25,000
105,800
11,950

6
2

2
1

7,228,243
4,039,127
2,011,609
330,250

2

2 ,0 0
00

444,200
58,500

503,600
8,300

335,123
150,000

1

1 The number of banks submitting these applications was 2,857, of which 2,854 applied for retirement or reduction of capital. Many banks applied for approval of more
than one type of adjustment, or made more than one application during the period.
2 To reduce par but not retirable value.
* Includes cases in which capital issues were to be sold for more than their par value and premiums transferred to surplus or undivided profits accounts.
4 These premiums represent retirable value of preferred stock not carried on books.
5 Portions approved are included with applications approved in full; portions disapproved with applications disapproved or rescinded.
8 Includes applications first approved and later rescinded in full, not included as approved.
7 The number of banks submitting these applications was 342. Some banks applied for approval of more than one type of adjustment, or made more than one application
during the period.




BANKS

1

2
1

FO
RM

6

45

130

APPLICATIONS

Applications disapproved
To repay or release restricted deposits:
To repay waived deposits or certificates of bene­
ficial interest ..........................................................
To release restricted or subordinated deposits. .
To release directors’ guaranty..................................
To repay stockholders’ contributions......................
To assume liabilities or purchase assets of nonin­
sured banks............................................................

232
46
43
19

O
N

Applications approved
To repay or release restricted deposits:
To repay waived deposits or certificates of bene­
ficial interest..........................................................
To release restricted or subordinated deposits. .
To release directors’ guaranty..................................
To repay stockholders’ contributions......................
To assume liabilities or purchase assets of nonin­
sured institutions:
Of noninsured banks...............................................
Of other financial institutions...............................
Of closed banks.........................................................

to
00







INDEX




INDEX

Page
Absorptions, consolidations, and mergers (see also Mergers of insured banks
with financial aid of the Corporation; Terminations of in­
surance) *
Of insured banks, 1934-39.............. ........................................................................... 82-87
Of noninsured institutions by or with insured banks.....................................29, 231
Of operating banks, 1939............................................................................................
88
Actions of Federal Deposit Insurance Corporation.
Insurance Corporation.
Adjusted capital account.
Adjusted value of assets.

See Federal Deposit

See Capital of banks, net sound capital.
See Appraised value of assets.

Administrative expenses of Federal Deposit Insurance Corporation........... 34, 35, 36
Admissions to insurance:
Applications approved and disapproved.......................................................24, 228-29
By class of bank................................................................................................ 22 -2 3, 82-87
By years, 1934-39.......................................................................................................... 82-87
Factors considered in the approval of banks for insurance..........................
23
Number during 1939....................................................................................................
89
Of banks in conservatorship or operating under restrictions, January 1,
1934................................................................................................................... 22, 23
Policy of Corporation regarding..............................................................................
23
Under the temporary funds..........................................................................22, 23, 82-87
Amendments to deposit insurance law...........................................................................30, 65
Applications from banks:
For admission to insurance................................................................................ 24, 228-29
For approval of assumption of deposit liabilities of other banks.............. 29, 231
For approval of change of location........................................................................ 29, 229
For approval of establishment of branches..................................................28 -2 9, 229
For approval of repayment or release of restricted, subordinated, or
waived deposits............................................................................................
231
For approval of capital retirement or reduction................................ 2 6 -2 8, 230-31
For loans to facilitate mergers.................................................................................
19
Appraised value of assets:
Defined..............................................................................................................................
Of insured banks. See Assets of insured banks, examiners’ analysis of.

74

Assessments:
Adequacy o f.....................................................................................................................
10
Rate and am ount............................................................................................. 10, 34, 35, 36
Regulation regarding...................................................................................................
29
Assets and liabilities of closed banks.
placed in.

See Receivership, insured banks

Assets and liabilities of operating banks (see also Assets of insured banks,
examiners’ analysis of; Capital of banks; Deposits; Fixed and
miscellaneous assets; Loans of insured commercial banks;
Securities):
All banks, 1935-39.........................................................................................................
124
All commercial banks, 1935-39................................................................................
125
All insured banks, 1935-39.........................................................................................
124
Insured commercial banks:
Call dates, 1935-39.............................................................................................. 128-31
Changes during 1934-39..................................................................................... 44 -4 6
Changes during 1939...........................................................................................
46
December 31, 1935, to December 30, 1939................................................
126




235

236

FEDERAL DEPOSIT INSURANCE CORPORATION
Page

Assets and liabilities of operating banks ( see also Assets of insured banks,
examiners’ analysis of; Capital of banks; Deposits; Fixed and
miscellaneous assets; Loans of insured commercial banks;
Securities):— Continued.
Insured commercial banks not members of the Federal Reserve System:
Average at call dates during 1939............................................................. 193, 195
Averages, 1935-39................................................................................................
191
Averages per bank, December 3 0 ,1 9 3 9 ....................................................... 140-41
Call dates, 1935-39.............................................................................................. 134-37
Grouped by amount of deposits, December 30, 19 39............................138-39
199
Grouped by population of center in which located................................
Grouped by rate of interest paid on deposits............................................
203
Grouped by rate of net earnings on total assets......................................
201
Percentage distribution............................................................................ 142-43, 197
Mutual savings banks...............................................................................................125, 127
Noninsured banks.......................................................................................................125, 126
Sources of data............................................................................................................... 73, 77
Assets and liabilities of the Federal Deposit Insurance Corporation................

38-40

Assets of insured banks, examiners’ analysis of (see also Fixed and miscellan­
eous assets; Fixed and substandard assets ratio; Loans of in­
sured commercial banks; Securities):
Definition of terms used............................................................................................ 74-76
Insured commercial banks, 1939:
Appraised and book values, deductions (net), substandard assets,
and assets not criticized (banks grouped by net sound capital
ratio, fixed and substandard assets ratio, rate of average net
earnings, amount of deposits, F D IC district, and State) 1 5 8 -61 ,1 66 -6 9
Discussion and summary.................................................................................. 46-48
Ratios of appraised value to book value......................46-47, 162-65, 170-73
Insured commercial banks not members of the Federal Reserve System,
1933-39:
Proportion of assets criticized......................................................................... 48-49
Ratios of appraised value to book value............................................. 49, 177-79
Sources of data...............................................................................................................
74
Assets of banks purchased by Federal Deposit Insurance Corporation.
Bank assets purchased by the Corporation.

See

Assets of insured banks, quality of (see also Assets of insured banks, examiners’
analysis o f):
Assets charged off, 1934-39.......................................................................................
During 1939.....................................................................................................................
Improvement since 19 33..........................................................................................3,
Policy of Corporation regarding..............................................................................
Purposes of supervisory rules regarding...............................................................
Relation to adequacy of capital accounts............................................................

48, 56
46-48
48-49
13-14
13-14
13

Balance sheet of the Federal Deposit Insurance Corporation.............................. 38-40
Bank assets purchased by the Corporation:
From banks in receivership to facilitate liquidation................................21, 38, 218
From banks merged with financial aid of the Corporation. See Mergers
of insured banks with financial aid of the Corporation.
Bankers’ directories, data obtained from ......................................................................71, 73
Bank examination.

See Examination of banks.

Banking offices, number of.

See Number of operating banking offices.

Banking offices, establishment of:
Banks beginning operations:
By class, 1939........................................................................................................
88
Insured banks, 1934-39...................................................................................... 82-87
Opened since August 23, 1935, and operating December 31, 1 9 3 9 ..
24
Banks opened, or opening contemplated, approved for insurance............ 24, 228




INDEX

237
Page

Banking offices, establishment of:— Continued.
Branches, establishment approved by Corporation.................................. 2 8 -2 9,22 9
Branches opened............................................................................................................
88
Policy of Corporation regarding..............................................................................
28
State legislation, 1939, regarding..............................................................................
32
Banking practices. See Bank supervision; Unsafe and unsound banking
practices.
Bank management.

See Management of banks, quality of.

Bank supervision (see also Examinations of banks; Federal Deposit Insurance
Corporation):
Development of standards and procedures......................................................... 10-12
Objectives and standards o f......................................................................... 12, 13, 14-15
State legislation regarding during 1939................................................................
32
Banks beginning operations.

See Banking offices, establishment of.

Banks ceasing operations:
By class of bank, 1939................................................................................................
88
Insured banks, by class, 1934-39............................................................................. 82-87
Banks operating branches. See Banking offices, establishment of; Number of
banks operating branches; Reports from banks.
Board of Directors of the Federal Deposit Insurance Corporation....................

5, 33

Board of Governors of the Federal Reserve System:
Data obtained from ................................................................................................. 71, 73, 76
Examination by Corporation of banks under jurisdiction o f....................... 24 -2 5
Review of examination reports submitted b y ....................................................
71
Branches.

See Banking offices, establishment of; Classification of banks and
banking offices; Number of banks operating branches; Number
of branches.

Capital of banks (see also Assets and liabilities of operating banks; Earnings,
expenses, and disposition of profits of insured banks; Recon­
struction Finance Corporation investment in banks):
Examiners’ analysis of:
Insured commercial banks, 19 39......................................................49-50, 150-57
Insured commercial banks not members of the Federal Reserve
System, 1933-39...........................................................................................51, 176
Net sound capital:
Amount, banks examined in 19 39......................................... 49, 150-51, 154-55
Definition................................................................................................................
75
Improvement in insured banks since 19 33................................................. 3, 51
Of banks grouped by fixed and substandard assets ratio, rate of
average net earnings, amount of deposits, F D IC district, and
S ta te .................................................................................................................150-57
Policy of Corporation regarding..................................................................... 12-13
Net sound capital ratios to assets, insured commercial banks grouped by,
1939 *
Deposits o f..............................................................................................................50, 175
Examiners’ analysis o f ....................................................................... 150-53, 158-65
Number o f ...........................................................................................4, 12, 49 -5 0, 174
N et sound capital ratios, insured commercial banks not members of the
Federal Reserve System, 1933-39:
Ratios to assets, deposits, and total capital accounts, banks grouped
by amount of deposits...............................................................................
176
Ratios to deposits, percentage distribution of banks grouped b y . . . .
51
Of banks approved for insurance. . . . .................................................................. 13, 23
Of insured banks placed in receivership................................................................
222
Of noninsured banks.....................................................................................................
23
Policy of Corporation regarding.............................................................................. 12, 14
Private capital..............................................................................3, 12, 28, 49, 7 5 ,1 5 0 -5 7
Reductions and retirements approved by the Corporation............26-28, 230-31
Relation of capital to assets, changes since 1896..............................................
12
Retirements, amounts o f....................................................................... 191, 19 3,1 9 5 ,2 0 5




23 8

FEDERAL DEPOSIT INSURANCE CORPORATION
Page

Capital of banks ( see also Assets and liabilities of operating banks; Earnings,
expenses, and disposition of profits of insured banks; Recon­
struction Finance Corporation investment in banks)‘ -Continued.
.
State legislation regarding during 1939................................................................
32
Supplied by the Reconstruction Finance Corporation. .3 ,1 2 , 27, 49, 50, 144-49
Total capital accounts of insured commercial banks:
Adequacy o f............................................................................................................
13
Amount, banks examined in 1939.................................................150-51, 154-55
Amount, call dates, 1935-39..........................................................................
131
Changes during 1934-39..................................................................................... 45, 46
Definition.................................................................................................................
75
Total capital accounts of insured commercial banks not members of the
Federal Reserve System:
Amount, call dates, 1935-39............................................................................
137
Amount, December 30, 1939, banks grouped by amount of deposits
139
Average per bank, December 30, 1939, banks grouped by amount
of deposits......................................................................................................
141
Averages of three call dates, 1939......................... 193, 195, 197, 199, 201, 203
Percentages of total liabilities and capital accounts, Dec. 30, 1939
143
Unsafe and unsound practices............................... .................................................. 26, 27
Capital of Federal Deposit Insurance Corporation.........................................4, 38-39, 40
Cash depositories.................................................................................................................... 24, 71
Cash held by banks (see also Assets and liabilities of operating banks)...........

45

Chartering of banks...............................................................................................................23, 24
Civil Service extended to employees of the Corporation........................................

34

Classification of banks and banking offices...................................................... 71-72, 80-81
Closed banks.

See Receivership, insured banks placed in; Suspensions.

Commercial banks. See Assets and liabilities of operating banks; Capital of
banks; Deposits; Earnings, expenses, and disposition of profits
of insured banks; Number of operating banks.
Commercial banking offices.

See Number of operating banking offices.

Comptroller of the Currency:
Chartering of new national banks..........................................................................
23
Data obtained from .........................................................................................71, 73, 74, 76
Director of Corporation..............................................................................................
33
Examination by Corporation of banks under jurisdiction o f....................... 24 -2 5
Review of bank examinations made b y ................................................................25, 71
Consolidations.

See Absorptions, consolidations, and mergers.

Credit, extension of by banks, policy of Corporation regarding.....................13-14, 15
Demand deposits.

See Assets and liabilities of operating banks.

Depositors’ claims against closed insured banks.
banks placed in.

See Receivership, insured

Depositors, number protected by the Corporation in banks in financial
difficulties (see also Mergers of insured banks with financial
aid of the Corporation; Receivership, insured banks placed in) 4 ,1 5 ,1 6
Deposits:
Adjusted...................................................................................................75, 150-51, 154-55
Assumption of by other banks................................................................................ 29, 231
Claims barred................................................................................................................ 16, 18
Classified by type of deposit. See Assets and liabilities of operating
banks.
Definition, for assessment purposes.......................................................................
73
Demand. See Assets and liabilities of operating banks.
Insured. See Insured and otherwise protected deposits.
Interbank. See Assets and liabilities of operating banks.
Interest on. See Interest.




INDEX

239

D ep osits :— C on tinu ed.
Of all banking offices, June 30, 19 39......................................................................112-13
Of all banks, June 3 0 ,1 9 3 9 .................................................................................... 114, 116
Of all commercial banks, June 3 0 ,1 9 3 9 ................................................................114-21
Of all insured banks, June 30, 1939.....................................................................114, 116
Of all banks grouped by:
Amount of deposits (see also Assets and liabilities of operating banks)
114
Class of bank..........................................................................................................114-17
States and possessions........................................................................................ 116-17
Of all mutual savings banks..................................................114, 116-17, 122-23, 125
Of all offices of banks operating branches...........................................................
113
Of banks having inadequate capital................................................................. 12, 49-50
Of banks merged with aid of loans or purchase of assets by the Corpo­
ration..................................................................... 19, 20, 208-09, 213, 216-17
Of banks operating branches................................................................................. 113, 115
Of banks receiving financial aid from Corporation 1934-39
................................................................................ 4, 15-16, 17, 210-11, 214-15
Of branches......................................................................................................................
113
Of head offices of banks operating branches.......................................................
113
Of insolvent or hazardous banks suspended or merged. 1 5 -1 6 ,1 7 , 210-11, 214-15
Of insured banks in receivership.............................................. 16, 18, 206-07, 222-25
Of insured commercial banks:
A t time of examination, 1939............................................... 150-51, 154-55, 175
Banks grouped by capital ratios....................................................................
150
Banks grouped by average earnings.............................................................
151
Banks grouped by F D IC district and State..............................................154-55
Banks grouped by fixed and substandard asset ratios, examination
in 1939.............................................................................................................47, 150
Banks grouped by amount of deposits........................................................
151
Call dates, 1935-39..............................................................................................
130
Change during 1934-39....................................................................................... 45, 46
Change during 1939............................................................................................
46
December 31, 1935, to December 30, 1939................................................
126
Examiners’ analysis o f................................................................75, 150-51, 154-55
June 30, 1939......................................................................................................... 114-21
Of insured commercial banks not members Federal Reserve System:
Call dates, 1935-39..............................................................................................
136
December 30, 1939, grouped by amount of deposits.................139, 141, 143
June 30, 1939......................................................................................................... 114-17
Of insured mutual savings banks:
December 31, 1935, to December 30, 1939........... ....................................
127
December 31, 1 9 3 9 ..............................................................................................
58
June 30, 1939.........................................................................................114-17, 122-23
Of noninsured banks:
December 31, 1935, to December 30, 1939...................................125, 126, 127
June 30, 1939......................................................................................................... 114-23
Of suspended banks (see also Receivership, insured banks placed in)
................................................................................................ 206-07, 212, 222-23
Of unit banks............................................................................................................... 112, 114
Paid and unpaid in closed insured banks.....................................................17, 226-27
Payments of, to insured depositors. See Receivership, insured banks
placed in.
Postal savings deposits. See Assets and liabilities of operating banks.
Preferred. See Deposits, secured and preferred.
Protected by the Corporation. See Insured or otherwise protected
deposits.
Public funds (see also Assets and liabilities of operating banks)................31, 67
Secured and preferred:
Insured banks placed in receivership.............................................15, 17, 224-25
Insured commercial banks................................................................................
131
Insured commercial banks not members Federal Reserve System. . .
137
Sources of data...............................................................................................................
73
Subject to offset. See Receivership, insured banks placed in.
Time and savings deposits:
Amount. See Assets and liabilities of operating banks.
Interest paid on ( see also Earnings, expenses, and disposition of
profits of insured banks)..................................................................... 53, 54, 77




24 0

FEDERAL DEPOSIT INSURANCE CORPORATION
Page

Disposition of profits. See Earnings, expenses, and disposition of profits of
insured banks.
Dividends:
State legislation regarding payment of, during 1939.......................................
To depositors in mutual savings banks...............................................................
To stockholders of operating insured banks. See Earnings, expenses,
and disposition of profits of insured banks.
Double liability.

32
205

See Stockholders of banks.

Earnings, expenses, and disposition of profits of insured banks:
Amounts, insured commercial banks:
Banks grouped by class..................................................................................... 182-83
By years, with ratios to total assets, 1935-39....................................52, 180-81
Amounts, insured commercial banks not members of the Federal Reserve
System:
Averages per bank, banks grouped by amount of deposits.................194-95
Banks grouped by amount of deposits.........................................................192-93
By years, with ratios to total assets, 1 9 3 5 -3 9 .......................................... 190-91
Amounts, insured mutual savings banks, 19 35 -3 9...........................................204-05
Discussion, insured commercial banks.................................................................. 51-57
Distribution of insured commercial banks according to:
Rate of income received on loans................................................................. 187-88
Rate of interest paid on time and savings deposits, and other
characteristics...............................................................................................188-89
Rate of net current operating earnings on total assets, and other
characteristics..................................................................................... 184, 186-88
Rate of net earnings and of net profits on total capital accounts,
1938 and 1939 ..............................................................................................
57
Rate of net profits on total assets and other characteristics.............. 185-86
Interest received and paid by insured commercial banks............................. 52-55
Rate of income on loans, relation to size and character of loan................ 52-54
Rate of net earnings, relation to net profits.......................................... . .55, 57, 186
Rates of net earnings, net profits, and dividends, insured commercial
banks, 1934-39..............................................................................................
55
Ratios, insured commercial banks not members of the Federal Reserve
System:
Banks grouped by amount of deposits........................................................ 196-97
Banks grouped by population of center in which located....................198-99
Banks grouped by rate of interest paid on time and savings deposits. 202-03
Banks grouped by rate of net earnings....................................................... 200-01
To gross earnings, total assets, and total capital accounts................ 196-203
Sources, number of banks reporting, and adjustment of data............... 71, 76-78
Employees, Federal Deposit Insurance Corporation............................................. 5, 33-34
Employees of insured banks, number o f.............................181, 183, 191, 193, 195, 205
Examiners (see also Employees, Federal Deposit Insurance Corporation):
Analysis of insured banks b y ....................................................... 46-51, 74-76, 150-79
Selection of by Corporation.......................................................................................
34
Examinations of banks (see also Assets of insured banks, examiners’ analysis
of; Capital of banks; Examiners):
Banks cited for unsafe and unsound practices................................................... 24-26
Definition of terms........................................................................................................ 74-76
Development of uniform examination procedure..............................................
74
During the temporary funds.....................................................................................10, 24
Examination by Federal Deposit Insurance Corporation of banks under
jurisdiction of other Federal agencies................................................. 24-25
In connection with loans and purchase of assets of insured banks...........
25
Number by Federal Deposit Insurance Corporation, 1 9 3 3 -3 9 ...................
24
Purposes o f....................................................................................................................... 2 4 -2 5
Review of examinations made by Comptroller of Currency and Federal
Reserve banks.............................................................................................. 25, 71
State legislation regarding during 1939................................................................ 31, 32
Tabulation o f...................................................................................................................
74




INDEX

241
Page

Executive Orders. See Civil Service extended to employees of the Corpo­
ration.
Expenses of banks. See Earnings, expenses, and disposition of profits of in­
sured banks.
Expenses of the Federal Deposit Insurance Corporation. . . .4, 15, 16, 22, 34-3 5, 36
Failures.

See Receivership, insured banks placed in; Suspensions.

Federal Deposit Insurance Corporation:
Actions on applications from banks. See Applications from banks.
A udit............................................................................................. ............................... 35, 37-39
Balance sheet..............................................................................................................3 8-39, 40
Bank supervision, policies regarding..................................................................... 14-15
Board of Directors........................................................................................................
5, 33
Capital and surplus............................................................................................ 4, 38-39, 40
Citations of banks for unsafe or unsound banking practices, and viola­
tions of law or regulations....................................................................... 25-27
Civil Service extended to employees.....................................................................
34
Coordination of supervisory standards and procedures.....................10, 11-12, 14
Districts............................................................................................................................
76
Divisions and committees..........................................................................................
33
Employees.....................................................................................................................5, 33-34
Examiners, selection o f................................................................................................
34
Examination of banks (see also Examinations of banks)............. 10, 11, 24 -2 5, 31
Financial resources o f................................................................................................4 ,1 0 , 39
Income and expenses.............................................................................................. 34 -3 5, 36
Insured banks receiving financial aid from, 1934-39....................9, 15-22, 210-11
Investments............................................................................................................... 34, 38, 40
Legislation affecting..................................................................................................... 30-32
Liquidating agent for insured banks, appointment a s ..................................... 21, 32
Loans to and purchase of assets from insured banks........................ 18-19, 21 -2 2,
25 -2 6, 208-09, 213
Losses incurred........................................................................................ 4, 9, 15, 16, 34, 35
Officers............................................................................................................................... 5, 33
Operations........................................................................................................................ 15-39
Organization and staff.............................................................................................. 5, 33-34
Payments to insured depositors.................................................... 4, 15, 16-18, 226-27
Policies...............................................................................................................................
9-15
Powers................................................................. ............... ; .......... ............................. 4, 10-11
Purchase of assets to facilitate completion of liquidation of banks in
receivership................................................................................................... 21, 218
Purposes of deposit insurance..................................................................................
9
Receiver for insured banks, appointment a s .............................................. 21, 32, 219
Recoveries on subrogated claims of insured depositors.............................19-22, 35
Regulations and rulings.................................................................................. 29-30, 67-68
Supervisory activities................................................................................. 4, 10-12, 22-30
Federal Reserve banks:
Data obtained from ......................................................................................................
74
Deposits of foreign banks w ith................................................................................
45
Review of bank examinations made b y ................................................................ 24-25
Federal Reserve System, membership in, deposit insurance law amended. . .

65

Fixed and miscellaneous assets, examiners’ analysis o f:
Insured commercial banks, 1939.................... 47, 160-61, 164-65, 168-69, 172-73
Insured commercial banks not members of the Federal Reserve System
........................................................................................................................... 49 ,179
Fixed and substandard assets ratio (see also Assets of insured banks, exam­
iners’ analysis of; Capital of banks):
Distribution of number and deposits of banks according t o .............. 47, 174, 175
Significance o f............................................................................................................13, 47-48
Hazardous banks. See Insolvent or hazardous insured banks; W eak or
hazardous banks.
Head offices of branch systems.




See Number of banks operating branches.

242

FEDERAL DEPOSIT INSURANCE CORPORATION

Industrial banks, State legislation regarding during 1939......................................

32

Insolvent or hazardous insured banks (see also Mergers of insured banks
with financial aid of the Corporation; Receivership, insured
banks placed in; Suspensions):
Operating at close of 1939.........................................................................................
4, 12
Placed in receivership or merged with financial aid of the Corporation:
Depositors, number of, fully protected, partially protected, and
unprotected...................................................................................................
16
Deposits, protected and unprotected............................................................
16
Number and deposits of:
1934-39, by class of bank, year, amount of deposits, and State. .210-11
1939, by class of bank, amount of deposits, and State................214-15
Disbursements by Corporation in connection with............................. 4, 16, 17
Losses by depositors in ...................................................................................4, 15, 16
Losses and nonrecoverable expenses in connection therewith, by
Corporation......................................................................... 4, 15, 16, 35, 36, 39
State legislation, 1939, regarding............................................................................
32
Insured banks. See:
Absorptions, consolidations, and mergers;
Admissions to insurance;
Assets and liabilities of operating banks;
Assets of insured banks, examiners’ analysis of;
Banking offices, establishment of;
Capital of banks;
Classification of banks and banking offices;
Deposits;
Earnings, expenses, and disposition of profits;
Examinations of banks;
Loans of insured commercial banks;
Management of banks, quality of;
Mergers of insured banks with financial aid of the Corporation;
Mutual savings banks;
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;
Weak or hazardous banks.
Insured commercial banks not members of the Federal Reserve System.
See Insured banks.
Insured and otherwise protected deposits:
Of insured banks suspended or merged with financial aid of the Corpora­
tion.......................................................................................................................... 4, 15-20
Of insured banks placed in receivership......................................... 16-18, 20, 224-27
Of operating banks....................................................................................................... 19-20
Regulation regarding determination o f.....................................................29-30, 67-68
Insured mutual savings banks. See Mutual savings banks.
Insured State banks members of the Federal Reserve System.
banks.
Interbank deposits.

See Insured

See Assets and liabilities of operating banks.

Interest (see also Earnings, expenses, and disposition of profits of insured
banks):
On deposits:
Rate o f.......................................................................................53, 54, 188-89, 202-03
Regulation of Corporation regarding............................................................29, 31
State legislation regarding during 1939....................................................... 31, 32
On loans and securities, rate of, 1 9 3 4 -3 9 ............................................................. 52-53




INDEX

243
Page

Interest ( see also Earnings, expenses, and disposition of profits of insured
banks):— Continued.
On loans:
Distribution of banks by rate o f ................................................................. 187, 188
Relation to size and character of loans....................................................... 52-54
Investments of banks. See Assets and liabilities of operating banks; Secur­
ities; State legislation regarding deposit insurance and bank
supervision; Unsafe and unsound banking practices.
Investments of the Federal Deposit Insurance Corporation........................... 34, 38, 40
Law, deposit insurance, amendment o f......................................................................... 30, 65
Legislation regarding deposit insurance and bank supervision....................... 30-32, 65
Liquidation, banks placed in (see also Terminations of insurance):
Num ber..............................................................................................................................
W ith Corporation liquidating agent.......................................................................

88
21

Loans of insured commercial banks (see also Assets and liabilities of operating
banks; Assets of insured banks, examiners’ analysis of; Earn­
ings, expenses, and disposition of profits of insured banks;
Unsafe and unsound banking practices):
Changes during 1934-39.............................................................................................. 45 -4 6
Examiners’ analysis, all insured commercial banks:
Appraised and book values, deductions (net), substandard, and not
criticized..................................................................................47, 160-61, 168-69
Ratios of appraised value to book value.............................47, 164-65, 172-73
Examiners’ analysis, banks not members of the Federal Reserve
System ...................................................................................................49, 178, 179
Policy of Corporation regarding.............................................................................. 13-14
Rate of income on and proportion to total assets...........................52-54, 187, 188
Types o f....................................................................................................................... 46, 53-54
Loans to insolvent or hazardous insured banks by Federal Deposit Insurance
Corporation. See Mergers of insured banks with financial
aid of the Corporation.
Location of insured banks, changes approved by Corporation............................29, 229
Losses of insured banks. See Earnings, expenses, and disposition of profits of
insured banks.
Losses of the Federal Deposit Insurance Corporation:
During 1939..................................................................................................................... 16, 35
During six years of deposit insurance................................................. 4, 10, 15, 16, 35
Estimated future losses...............................................................................................
4
Losses sustained by banking system prior to deposit insurance.........................

4, 10

Management of banks, quality of:
Banks cited for unsafe and unsound banking practices.................................26,
Considered as a factor in approval of banks for insurance...........................
Relation to capital........................................................................................................
Relation to quality of bank assets.........................................................................
Relation to sound banking structure.................................................. .................. 9,
Mergers.

27
23
13
15
15

See Absorptions, consolidations, and mergers; Mergers of insured
banks with financial aid of the Corporation.

Mergers of insured banks with financial aid of the Corporation:
Action of Corporation on applications..................................................................
19
Amounts disbursed by Corporation.................................................15, 17, 19, 216-17
Amounts of loans and assets purchased, held by the Corporation............38, 40
Banks cited for unsafe and unsound practices.................................................. 25-26
Classification of banks................................................................................................ 78-79
Deposits protected.....................................................................................................9, 19, 20
Losses incurred by Corporation..............................................................................
9
Names and location of banks merged................................................................... 216-17
Number and deposits of banks merged....................................... 18-19, 208-09, 213
Number of depositors in banks merged................................................................ 18-19
Policy of Corporation regarding..............................................................................
9




244

FEDERAL DEPOSIT INSURANCE CORPORATION
Page

Mergers of insured banks with financial aid of the Corporation:— Continued
Protection afforded depositors, 1934-39...........................................................9, 16, 19
Recoveries by Corporation on assets purchased or held as collateral. .20, 21-22
Monetary policy, study to be made by Senate Committee on Banking and
Currency......................................................................................................... 31, 66
Morris Plan banks, classification o f ................................................................................

71

Mutual savings banks:
Insured:
Admissions to and terminations of insurance, 1934-39......................... 86-87
Assets and liabilities............................................................................................ 57-58
Capital investment of the Reconstruction Finance Corporation in. 145, 149
Earnings, expenses, and disposition of profits.......................................... 204-05
N um ber.............................................................................................................. 22, 57, 86
Suspended or merged with financial aid of the Corporation..............
79
Insured and noninsured:
Assets and liabilities......................................................................................... 125, 127
Changes during 1939........................................................................................... 88-89
Classification..........................................................................................................
72
Deposits...................................................................................................114-17, 122-23
Num ber....................................................................... ............. 81, 88, 90-103, 108-09
Sources of data......................................................................................................
71
National banks.
New banks.

See Comptroller of the Currency; Insured banks.

See Banking offices, establishment of.

Noninsured banks. See:
Absorptions, consolidations, and mergers;
Admissions to insurance;
Assets and liabilities of operating banks;
Capital of banks;
Classification of banks and banking offices;
Deposits;
Number of banks operating branches;
Number of operating banking offices;
Number of operating banks;
Number of branches;
Suspensions;
Uninsured deposits.
Number of banks operating branches:
By amount of deposits................................................................................................99, 101
B y amount of deposits at head offices..................................................................
99
By character of branch system..............................................................................110-111
By class of bank...................................................................................... 81, 90-97, 99, 101
By population of centers in which head offices are located..........................
110
By States and possessions......................................................................... 90-97, 110-111
Change during 1 9 3 4 -3 9 ...............................................................................................
43
December 31, 1 9 3 5 -3 9 .................................................................................................
81
Number of branches:
According to location in relation to head office.............................................. 110-111
By amount of deposits................................................................................................
99
By class of bank........................................................................................ 81, 89, 90-97, 99
By population of centers in which located..........................................................
110
By States and possessions......................................................................... 90-97, 110-111
Change during 1 9 3 4 -3 9 ...............................................................................................
43
Changes during 1939................................................................................................... 88, 89
December 31, 1 9 3 5 -3 9 ................................................................................................. 80, 81
Establishment approved by Corporation..................................................... 28-29, 229
Number of operating banking offices:
Additional offices approved by Corporation................................................28-29, 229
All offices.......................................................................................................80, 81, 88, 90-99
By amount of deposits................................................................................................
98
By class of bank......................................................................................... 80-81, 88, 90-99
By States and possessions.............................................................. ........................... 90-97
By type of office............................................................................................................ 90-99




INDEX

245
Page

Number of operating banking offices:— Continued.
Change during 1 9 3 4 -3 9 ...............................................................................................
Changes during 1939....................................................................................................
Classification...................................................................................................................
Of commercial banks................................................................................ 80-81, 88,
Of insured banks........................................................................................80, 81, 88,
Of mutual savings banks................................................................................81, 88,
Of noninsured banks................................................................................ 80, 81, 88,
Percentage belonging to branch systems, 1939, compared with earlier
years.................................................................................................................

43-44
88-89
71-72
90-99
90-99
90 -9 9
90-99
43

Number of operating banks:
All banks............................................................................................... 80, 88, 100, 102, 124
All commercial banks.....................................................................80, 100, 102, 104, 125
All mutual savings banks...................................................... 81, 88, 100, 102, 108, 125
Approved for admission to insurance............................................................22, 24, 229
B y amount of deposits......................................... 44, 98-99, 100-01, 104-09, 138-43
B y class of bank..............................................................................................80, 81, 90-103
B y States and possessions........................................................................... 90-97, 102-09
Change during 1 9 3 4 -3 9 ...................................................................................22-23, 43-44
Changes during 1939................................................................................................... 88-89
Classification................................................................................................................... 71-72
Insured banks having inadequate capital................................................ 12-13, 49-51
Insured commercial banks:
By number of offices in center in which located...................................184, 185
B y population of center in which located...................................... 184, 185, 189
Call dates, 1935-39.................................................................................. 126, 128, 132
Changes during 1934-39............................................................................... 44, 82-86
Changes during 1939.......................................................................................... 88-89
December 31, 19 35 -3 9....................................................................................... 80, 126
December 30, 1939.................................................................................. 80, 88, 90-97
Examined during 1939:
Number...........................................................................................................
47
Grouped by F D IC districts and by States.......................154-57, 166-73
Grouped by net sound capital ratio, fixed and substandard
assets ratio, rate of average net earnings, and amount of
deposits................................................................. 150-53, 158-65, 174-75
For which earnings statements are tabulated....................... 180, 182, 184-89
June 30, 1939........................................................................................... 98-99, 100-07
Insured commercial banks not members of the Federal Reserve System:
Call dates, 1935-39..............................................................................................
134
Changes during 1934-39..................................................................................... 85-86
Changes during 19 39.......................................................................................... 88-89
December 31, 1 9 3 5 -3 9 .......................................................................................
80
December 30, 1939............................................................ 88, 90-97, 138, 140, 142
Examined during 1939.......................................................................................
179
For which earnings statements are tabulated................... 190, 192, 194, 196,
198, 200, 202
June 30, 1939...........................................................................................98-99, 100-07
Having Reconstruction Finance Corporation capital investment. . .14 4-45
Insured mutual savings banks:
Changes during 1939..................................................................................... 57, 88-89
Changes during 19 34 -3 9.................................................................................... 86-87
December 31, 1 9 3 5 -3 9 .......................................................................................81, 204
December 31, 19 39...................................................................57, 81, 86, 88, 90-97
For which earnings statements are tabulated...........................................
204
Having Reconstruction Finance Corporation capital investment. . .
145
Included in tabulations of suspensions, receiverships and mergers. .
79
June 30, 1939..........................................................................98-99, 100-03, 108-09
Noninsured banks:
Change during 19 34 -3 9......................................................................................
44
Changes during 1939........................................................................................... 88-89
December 31, 19 35 -3 9...................................................................... 80-81, 125, 126
December 31, 1939.................................................................................. 24, 88, 90-97
June 30, 1939........................................................................................... 98-99, 100-09
Unit banks......................................................................................... 80, 81, 90-97, 98, 100




246

FEDERAL DEPOSIT INSURANCE CORPORATION
Page

Officers, active, of insured banks.
of.

See Employees of insured banks, number

Officers and employees of the Federal Deposit Insurance Corporation............ 33-34
Operating banks.

See Number of operating banks.

Payments to depositors in closed insured banks.
banks placed in.
Postal savings deposits.
Preferred deposits.
Preferred stock.
Profits.

See Receivership, insured

See Assets and liabilities of operating banks.

See Deposits, secured and preferred.

See Capital of banks.

See Earnings, expenses, and disposition of profits of insured banks.

Protection of depositors in banks in financial difficulties, 1934-39 (see also
Insured and otherwise protected deposits; Mergers of insured
banks with financial aid of the Corporation; Receivership,
insured banks placed i n ):........................................................................4, 9, 16
Public funds.

See Assets and liabilities of operating banks.

Purchase of bank assets by Corporation.
Corporation.

See Bank assets purchased by the

Real estate (see also Fixed and miscellaneous assets)..............................................

27

Receivership, insured banks placed in:
Activities of Corporation as receiver o f .............................................................. 21, 219
Assets and liabilities of, at date of suspension, 1934-39................................ 220-23
Classification................................................................................................................... 78-79
219
Date of suspension and year of organization.....................................................
Deposits:
Determination of claims, regulations regarding........................... 29-30, 67-68
Insured, paid and unpaid by December 31, 1939............................ 17, 226-27
Insured, secured, preferred, subject to offset.....................................17, 224-25
Not eligible for insurance..................................................................................
17
Percentage protected.....................................................................................16, 17, 18
Secured, preferred, and subject to offset, paid and unpaid by
December 31, 1939.....................................................................................
17
Unclaimed accounts............................................................................................ 17, 18
Uninsured, unsecured, not preferred, and not subject to offset........... 224-25
Depositors:
Date of first payment t o ...................................................................................
18
Extent of protection by insurance.................................................................17, 18
Losses by those not fully protected by insurance...................................
9, 16
Number eligible for protection, paid and unpaid................................... 226-27
Payments to ............................................................................................. 16-18, 226-27
Liquidation o f ................................................................................................................ 20-21
Losses by Corporation on depositors’ claims paid........................................4, 15, 16
Names and location of, during 1939......................................................................
219
Purchase of assets from.............................................................................................. 21, 218
Receivers............................................................................................................................
219
Recoveries by Corporation on subrogated claims against............................. 20-21
Sources of data............................................................................................................... 71, 73
Reconstruction Finance Corporation investment in capital of banks:
Am ount................................................................................................ 27-28, 49, 75, 146-49
Number of banks with.................................................................................................144-45
Policy regarding, in rehabilitation of banks.......................................................
3, 1 2
Retirements..............................................................................................26-28, 148-49, 230
Sources of data..................................................................................................... 71, 145, 147
Regulations and rulings:
Issued by Federal Deposit Insurance Corporation during 19 39............29, 67-68
Outstanding at end of 1939....................................................................................... 29-30
Repayments to the Corporation.......................................................................................

19-22

Reports from banks................................................................................................................. 30, 73




247

INDEX

Page

Salaries and wages of bank officers and employees. See Earnings, expenses,
and disposition of profits of insured banks.
Savings and time deposits.

See Assets and liabilities of operating banks.

Secured and preferred deposits.
placed in.

See Deposits; Receivership, insured banks

Securities (see also Assets and liabilities of operating banks):
Examiners’ appraisal of, method used.................................................................. 74-75
Held by Federal Deposit Insurance Corporation............................................. 38, 40
Held by insured commercial banks:
Amounts, call dates, 1934-39...........................................................................132-33
Change in amounts during 1934-39.............................................................. 45-46
Examiners’ analysis: appraised and book values, deductions (net),
substandard, and not criticized.....................................47, 158-59, 166-67
Examiners’ analysis: ratios of appraised to book values. 47 ,162 -6 3, 170-71
Policy of Corporation regarding.....................................................................
15
Held by insured commercial banks not members of the Federal Reserve
System, examiners’ analysis................................................................... 49, 179
Market value of, effect of changes on holdings and profits...........................
56
Rate of income on, decline since 1934..................................................................
52
State legislation during 1939 regarding bank investments............................
32
Senate Committee on Banking and Currency............................................................ 31, 66
Size of commercial banks, 1934 and 1939.....................................................................

44

Solvency of insured banks, importance in bank supervision.................................

12

State banks members of the Federal Reserve System.

See Insured banks.

State banks not members of the Federal Reserve System.
Noninsured banks.

See Insured banks;

State bank supervisory authorities:
Banks cited t o ................................................................................................................
26
Coordination of supervisory standards and procedures............................10-12, 14
Data obtained from ......................................................................................................71, 73
State legislation regarding deposit insurance and bank supervision..................
Stockholders of banks:
Double liability o f.........................................................................................................
In banks merged with financial aid of the Corporation, assets returned to

31-32
31
19

Substandard assets. See:
Assets of insured banks, examiners’ analysis of;
Fixed and miscellaneous assets;
Fixed and substandard assets ratios;
Loans of insured commercial banks;
Management of banks, quality of;
Securities.
Supervision.

See Bank supervision.

Suspensions (see also Receivership, insured banks placed in ):
Classification................................................................................................................... 78-79
Deposits of suspended banks.......................................................................... 206-07, 212
Number of banks terminating insured status by suspension...................... 82-87
Of banks cited for unsafe and unsound banking practices........................... 25, 26
Of insured and noninsured banks:
Number and deposits by class of bank, amount of deposits, and
State, 1939 ....................................................................................................
212
Number and deposits, by class of bank, year, amount of deposits,
and State, 1934-39...................................................................................... 206-07
Number, by class of bank, 1939.....................................................................
88




248

FEDERAL DEPOSIT INSURANCE CORPORATION
Page

Temporary deposit insurance funds:
Admissions to insurance under.....................................................................22-23, 82-87
Examinations of banks................................................................................................ 10, 23
Recommendations for the Banking Act of 1935.......................................... 10-11, 23
Terminations of insurance;
Analysis of, 19 34 -3 9..................................................................................................... 82-87
For unsafe and unsound banking practices and violations of law or
regulations..................................................................................................... 25, 26
Number..............................................................................................................................22, 24
Time and savings deposits.

See Assets and liabilities of operating banks.

Trust funds, insurance o f .............................................................................................. 29, 30, 68
Uninsured deposits:
Assumption of, by insured banks........................................................................... 29, 231
Of banks in receivership.......................................................................15, 16, 17, 224-25
Unit banks.

See Deposits; Number of operating banks.

United States Government obligations (see also Assets and liabilities of
operating banks):
Held by insured commercial banks, 1934-39...................................................... 132-33
Held by Federal Deposit Insurance Corporation............................................. 38, 40
Unsafe and unsound banking practices:
Action of Corporation.................................................................................................. 25-27
Banks examined, 1934-39........................................................................................... 24-25
Classification of banks cited, 1934-39...................................................................
25
Number of banks cited................................................................................................ 25-26
Types of, for which banks were cited................................................................... 26, 27
Unsecured deposits.

See Receivership, insured banks placed in.

Violations of law or regulations........................................................................................ 25-27
Weak or hazardous banks:
Effect of continued operation on credit system ................................................
12
Eliminated during 1939.............................................................................................. 3 -4 , 9
Policy of Corporation regarding.............................................................................. 4, 23
Protection of depositors in .............................................................................. 4, 16, 17, 18




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