The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
NINETY-EIGHTH
ANNUAL REPORT
OF THE
Comptroller of the Currency
I960
WASHINGTON s 1961
TREASURY
DEPARTMENT
Document No. 3220
Comptroller of the Currency
For sale by the Superintendent of Documents, U.S. Government Printing Office
Washington 25, D.O. - Price $2.00
LETTER OF TRANSMITTAL
OFFICE
TREASURY DEPARTMENT,
OF THE C O M P T R O L L E R OF THE C U R R E N C Y ,
Washington, D.C., August 15, 1961.
In accordance with the provisions of section 333 of the
United States Revised Statutes, I have the honor to submit the
following report covering the activities of the Bureau of the Comptroller of the Currency for the year 1960.
Respectfully,
SIRS:
RAY
M.
GIDNEY,
Comptroller oj the Currency.
T H E P R E S I D E N T OF THE S E N A T E .
T H E S P E A K E R OF THE H O U S E OF
REPRESENTATIVES.
HI
ANNUAL REPORT
OF THE
COMPTROLLER OF THE CURRENCY
STATUS OF NATIONAL BANKING SYSTEM
The 4,537 banks supervised by the Comptroller of the Currency
had total assets of $140 billion at the end of 1960. They maintained
their relative position with 46.8 percent of the banking assets in the
commercial and savings banks of the Nation, and 54.2 percent of the
commercial banking assets. Commercial banks numbering 8,919
which are supervised by the respective State banking authorities held
assets of $118.4 billion, and 515 State-chartered and supervised mutual
savings banks had assets of $40.6 billion. For all commercial and
mutual savings banks, assets were $298.9 billion, an increase of $14.6
billion for the year as shown in the following table.
All operating banks—continental United States and other areas
[Dollars in millions]
Type of bank
Members of both the
Federal Reserve System and Federal
Deposit Insurance
Corporation
Number
National banks.
State commercial banks
Mutual savings banks
Total
Total
assets
Members of Federal
Deposit Insurance
Corporation only
Number
Total
assets
1 4, 534
2 1, 638
22
$139,816
76, 740
21
13
3 6, 952
3 323
$180
39,587
35,072
6,174
216, 577
7,278
74,839
Not members of Federal Reserve or Federal Deposit Insurance Corporation
Number
Total
assets
4 190
329
$2,036
5,481
519
7, 517
4
Recapitulation
Number
Branches
Total
assets
Increase
for 1960
National banks
State commercial banks
Mutual savings banks
i 4, 537
8,919
515
5,326
4,989
486
$139,996
118, 363
40, 574
$6,671
6,273
1,631
Head offices
Branches
13, 971
10,801
10,801
298, 933
14, 575
Total banking offices.
24, 772
1 Supervised by Comptroller of the Currency. (Includes 7 nonnational banks in the District of Columbia,
4 member and 3 nonmember insured banks with 30 branches.)
2 Supervised by State banking departments and the Federal Reserve System.
(Includes 1 member nondeposit trust company.)
3 Supervised by State banking departments and Federal Deposit Insurance Corporation.
4 Supervised by State banking departments only.
1
2
REPORT OF THE COMPTROLLER OF THE CURRENCY
Growth oj Financial Institutions
Commercial bank assets increased $12.9 billion during 1960 as
compared to $5.3 billion in 1959 and $16.1 billion in 1958. During
the past decade the average annual growth of commercial bank assets
was $8.9 billion per year. The growth of financial institutions during
the past 10-year period was at a rapid rate, with the most rapid growth
occurring in those organizations which have been in a position to offer
more attractive savings interest rates because of their favorable tax
status and lower liquidity requirements. Relative growth by classes
during the past 10-year period is presented in the following table.
Financial
institutions
(Total assets)
[Dollars in millions]
Dec. 31, 1950 Dec. 31,1960
C ommercial banks
—
Mutual savings banks
Savings and loan associations
Federal and State chartered credit unions
$169,856
22,385
16,893
1,005
$258,359
40,574
71,489
i 5,029
Percent of
increase
52.1
81.3
323.2
400.4
i Data as of Dec. 31,1959.
Status of National Banks
The number of operating national banks was reduced during 1960
from 4,542 at the close of 1959 to 4,530, a net change of 12. This
compares with reductions of 43 in 1959, 42 in 1958, 32 in 1957, 41 in
1956, and 96 in 1955. The assets of the national banking system, after
deduction of $1.3 billion of reserves for bad debts and other valuation
reserves on loans, continued upward in 1960 to $139.3 billion compared
with $132.6 billion at the end of 1959, a gain of $6.7 billion. The system absorbed 58 State banks in 1960 through consolidations, mergers,
purchases, and conversions for a gain in assets of $1,198.1 million,
while 17 national banks with $334.2 million of assets went into the
State banking systems by the same routes. A net gain of $863.9
million in assets accrued from these sources for the national banking
system. Based upon the fundamental considerations of managerial
competence, asset soundness, adequacy of capital funds and reserves,
and earning capacity, an excellent condition continues to characterize
the national banking system with the exception of a few banks which
are receiving appropriate and effective supervisory attention.
3 REPORT OF THE COMPTROLLER OF THE CURRENCY
Deposits
At the end of 1960 total deposits of all national banks were $124.9
billion, an increase of $5.3 billion over the prior year end.
The total deposits of national banks and the average effective interest rate paid on time and savings deposits are set forth below for
the years 1956 through 1960.
[Dollarsln millions]
Total deposits
Dec. 31,1956
Dec. 31,1957
Dec. 31,1958
Dec. 31,1959
Dec. 31,1960
Demand
Time and savings*
$79,027. 5
28,467.3
$77,881.0
31,555.3
$81,351.8
35,734.3
$82,703.1
36,934.6
$84,754.0
40,156.8
Total
Interest paid*
Average rate (percent)
107,494.8
437.0
1.54
109,436.3
636.0
2.02
117,086.1
762.3
2.13
119,637. 7
866.7
2.35
124,910.8
978.7
2.44
Loans
All major elements in the loan portfolio of the national banking
system moved moderately upward during 1960 and gross loans at the
year end amounted to $65 billion, an increase of $3.8 billion over that
reported on December 31, 1959.
In the December 31, 1960, composite balance sheet loan assets
represent 52 percent of the deposit liabilities and are 19 percent offset
by capital funds, including loan valuation reserves, as compared to
the year-end 1959 ratios of 51 and 18 percent, respectively. Loan
valuation reserves increased from 1.97 percent of gross outstandings
on December 31, 1959, to 2.01 percent at the end of 1960. Loans or
portions thereof which were fully backed or insured by agencies of
the U.S. Government, including FHA title 1 loans fully covered by
insurance reserves, declined slightly from $5,596 million to $5,580
million.
Loans for commercial and industrial purposes representing 37 percent of the composite portfolio increased $1,669 million, a gain of 7.5
percent while real estate loans declined slightly to 23.9 percent of the
portfolio although a dollar increase of $364 million was made. A
contributing factor to this trend was the reduction of $290 million in
loans insured or guaranteed by the Federal Housing Administration
and the Veterans' Administration.
Installment consumer loans continued to increase during 1960,
although not at the rate experienced in 1959, and at the year end
totaled $10.5 billion, a gain of $862 million. Including single-payment loans for personal expenditures, consumer loans comprised 23
4
REPORT OF THE COMPTROLLER OF THE CURRENCY
percent of the national banking system's loan portfolio. In our observation of the examination reports which flow through this office
we observed no significant change in the terms under which these
loans are granted. Delinquencies and losses while somewhat higher
than 1959 continue to be of little significance. The following table
reflects the major catagories of consumer credit loans held by the
national banking system on December 31 of the past 3 years.
[In million s~of dollars]
1958
1959
1960
Passenger automobile installment loans
Other retail installment loans
Residential repair and modernization loans.
Other personal loans for personal expenditures.
3,806
1,368
1,270
1,680
4,522
1,582
1,485
2,066
5,001
1,630
1,586
2,300
Total installment consumer loans
Single-payment loans for personal expenditures. -
8,124
3,319
9,655
3,815
10,517
4,193
11,443
13,470
14,710
Total consumer loans
jLiquidity
The balance sheet factors affecting the basic liquidity of the national
banking system increased almost ratably during 1960 and at the year
end there was no significant change in the percentage of liquidity from
that of December 31, 1959. Cash on hand and in banks, cash items
in process of collection, and U.S. Treasury obligations, aggregating
$61.4 billion, represented 49.2 percent of the $124.9 billion deposit
liability, as compared to 49.5 percent at the close of 1959, while such
liquid assets offset 72.4 percent of the total demand deposits as compared to 71.6 percent the previous year end. The following tables
provide a comparison of the elements affecting the basic and shortterm liquidity position of the national banking system for a 10-year
period.
Basic liquidity of the national banking system
[In millions of dollars]
1951
1952
1953
1954
1955—
1956
1957
1958
1959
1960
—
-
-
-
Cash and U.S. Govbalances
ernment
with other obligations
banks
Less bills
payable
and rediscounts
35,156.3
35,936.4
35,588.8
39,507.0
33,690.8
31,680.1
31,338.1
35,824.8
31,761.0
32,711.7
15.5
75.9
14.9
11.1
107.8
18.7
38.3
43.0
340.4
110.6
26,012.2
26,399.4
26,545.5
25,721.9
25,763.4
27,082.5
26,865.1
26,864.8
27,464.2
28,674.5
Net
61,153.0
62,259.9
62,119.4
65,217.8
59,346.4
58,743.9
58,164.9
62,646.6
58,884.8
61,275.6
Deposits
94,431.6
99,257.8
100,947.2
106,145.8
104,218.0
107,494.8
109,436.3
117,086.1
119,637. 7
124,910.9
Percent
of
coverage
64.76
62.73
61.54
61.44
56.94
54.65
53.15
53.50
49.22
49.06
5 REPORT OF THE COMPTROLLER OF THE CURRENCY
Short-term liquidity of the national banking system
[In millions of dollars]
Treasury
bills
1951
1952
1953
1954
1955
1956
1957
1958
1959
1960
—
-
4,496.1
4,486.1
2, 575. 9
2, 906.1
2,014. 5
2,808.1
2,491. 8
3,122. 6
3,006.1
3, 932.2
Treasury
certificates
of indebtedness
Cash and
balances
with other
banks
4,156.4
3,073.1
5,810.9
2,993.0
1,265. 5
1,051.0
2, 478.7
3,633.1
1,202.3
1,395.8
26,012.2
26,399.4
26,545. 5
25,721.9
25, 763. 4
27,082. 5
26,865.1
26,864.8
27, 464.2
28,674.5
Total
Deposits
34,664.7
33,958. 6
34,932.3
31,621.0
29,043.4
30,941. 6
31,835.6
33,620. 5
31. 672. 6
34,002.5
94,431.6
99,257.8
100,947.2
106,145. 8
104,218.0
107, 494.8
109,436.3
117,086.1
119,637. 7
124,910. 9
Percent
of
coverage
36.71
34.21
34.60
29.79
27.87
28.78
29.09
28.71
26.47
27.22
While the computations used in these two tables serve a purpose
in reflecting the trend in the relationship of certain balance sheet
items basic in any determination of liquidity, their usefulness when
applied to a specific bank is limited. The problem of practical
liquidity is one which the Comptroller's staff has not found readily
soluble by the application of a general formula, but rather it is one
which must be approached on an individual basis if proper consideration is to be given all contributing elements.
Investment Accounts
At the end of 1960 securities investment accounts of national banks
totaled $43.5 billion compared to $42.4 billion at the end of 1959.
Despite this increase of $1.1 billion the relative position of investments
to total assets was not maintained, dropping from 31.9 to 31.3 percent.
It will be noted that most of the increase was in U.S. bonds with
other bonds showing little change.
The table "Maturity position of U.S. bonds" has been amended to
include United States guaranteed obligations which were $96 million
at the end of 1960 and $37 million the previous year. Maturity positions have tended to shorten as bonds due in 5 years or less accounted
for 77 percent of total investments compared to 72 percent at the end
of 1959.
For the first time since development of the practice of taking bond
profits in 1 year and losses in another, because of income tax considerations, the results in 1960 came close to canceling out on a net basis.
This is indicated by the table "Results of bond activity."
The investment accounts of national banks as a whole remain in a
very sound position.
6
REPORT OF THE COMPTROLLER OF THE CURRENCY
Recapitulation by maturities
(U.S. bonds as of Dec. 31, 1960; municipal and other bonds as of most recent examination reports—adjusted
to the year end)
[In millions of dollars]
U.S.
bonds
General
obligation
municipal
bonds
903
2,900
2,679
1,445
i 8,860
19,044
3,402
1,406
Up to 1 year
Over 1, not over 5 years
Over 5, not over 10 years
Over 10 years
3 32,712
Total
Special
revenue
municipal
authority
and corporate
bonds
3
7,927
4
Total
795
1,036
564
493
10,558
22,980
6,645
3,344
2,888
43,527
Includes $320 million of nonmarketable U.S. bonds.
* Includes $96 million of U.S. guaranteed bonds (FHA debentures and merchant marine bonds).
Includes $1,487 million of general obligations of States and $647 million of housing authority obligations.
* Includes $1,395 million of special revenue municipal authority obligations and $855 million of Federal
Corporation (not guaranteed) bonds.
1
1
Maturity position of U.S. bonds
[In millions of dollars]
U.S. bonds
Dec. 31,1956 Dec. 31,1957 Dec. 31, 1958
Up to 1 year
Over l, not over 5 years
Over 5, not over 10 years
Over 10 years
Total
Dec. 31,1959 Dec. 31,1960
7,220
15,143
6,321
2,992
7,965
15,959
4, 710
2,702
8,718
17,949
6,632
2,522
8,209
16,460
5,579
1,476
8,860
19,044
3,402
1,406
31,676
31,336
35, 821
31, 724
32,712
Results of bond activity
[In millions of dollars]
Year
1954
1955
1956
1957
1958
1959
1960
-
Profits
-
244.9
35.9
11.4
31.1
353.1
24.8
171.8
Recoveries
9.3
15.8
13.0
5.8
12.4
18.3
21.2
Losses
49.5
152.8
239.0
151.2
67.5
483.5
154.4
Net profit
204.7
298.0
38.6
Net loss
101.1
214.6
114.3
440.4
Capital Structure
During 1960, capital revision programs were undertaken by 256
national banks, which resulted in national bank shareholders supplying $118 million additional proprietary funds. In addition, the shareholders of 504 national banks, with the approval of the Comptroller,
7
REPORT OF THE COMPTROLLER OF THE CURRENCY
authorized the payment of stock dividends having a par value of
$101 million. During the 10-year period from January 1, 1951, to
December 31, 1960, 2,024 national banks augmented their capital
structures $1,472 million through the sale of additional common
stock.
As of December 31, 1960, the capital, surplus, undivided profits
and reserves of the 4,530 national banks totaled $11.1 billion, and
their reserves for bad debts and other valuation reserves on loans
amounted to $1.3 billion, making an aggregate total of capital funds
and reserves of $12.4 billion. This represents 9.9 percent of deposit
liabilities and 8.8 percent of gross assets. Gross assets at the year end
without deduction of reserves for bad debts and valuation reserves
on loans were $140.6 billion. After deducting $66.9 billion represented
by cash and its equivalent, U.S. Government obligations, and loans,
or portions of loans guaranteed or insured by Federal Government
agencies, the remaining $73.7 billion of the national banking system's
resources was placed in loans, municipal and corporate bonds and
other assets. Against each $5.94 invested in these types of assets
there is held $1 of capital funds and reserves, compared to $6 at the
close of 1959; $5.78 at the close of 1958; and $5.80 at the close of
1957.
Reports of examination by national bank examiners indicate that the
volume of assets containing substantial and unwarranted degrees
of risk is very moderate when measured against the protection
afforded by capital structures and reserves.
Earnings and Net Additions to Reserves
National banks paid a total of $3,380 million in salaries and wages,
taxes, and interest on deposits in 1960, compared to a total payment
for the same purposes of $2,888 million in 1959. Salaries and wages
amounted to $1,496 million, of which $983 million went to 273,477
employees, $487 million was paid to 50,131 officers, and fees to directors accounted for $26 million. National banks paid Federal
income taxes of $705 million, compared to $482 million in 1959,
State income taxes of $36 million, and $164 million in various local
taxes, for a total tax payment of $905 million. Interest paid on savings and other time deposits rose from $867 million in 1959 to $979
million in 1960 and approximated 2.44 percent on total time deposits
of $40.2 billion outstanding at the year end, compared to 2.35 percent
on $36.9 billion in such deposits outstanding at the end of 1959.
The sources and disposition of the income dollar of all national
banks in 1960 is shown by the following illustration.
00
NATIONAL BANKS — 1960
SOURCE A N D DISPOSITION O F THE I N C O M E
DOLLAR
w
^
(In millions of dollars and percent of one dollar)
SOURCE
o
DISPOSITION
w
H3
O
^
Net losses
$104.0 — 2 %
M
O
o
K
hd
H
W
o
F
F
H
W
O
Interest on
other bonds
$307.7—6%
H
Total earnings from cui^ent operations
Total source
$5,755.6
5,755.6
*Reserve for bad debts (tax free)
Valuation reserve — Loans
Valuation reserve — Bonds
Retained earnings
Expenses, dividends and net losses
Total disposition
O
d
w
W
H
o
Hi
750.2
5,005.4
5,755.6
9 REPORT OF THE COMPTROLLER OF THE CURRENCY
Net earnings from current operations in 1960 were $2,046.3 million,
an increase over 1959 of 10.9 percent. Gross income at $5,755.6 million exceeded the 1959 results by $572.5 million and outpaced the
$371.1 million increase in the cost of doing business which was principally encountered in much larger outlays for taxes and interest on
deposits.
Actual losses on loans, bonds, and other assets, recoveries on assets
previously charged off, and bond profits, resulted in a net reduction in
profits of $104 million. The principal items contributing to this result
were losses of $181.7 million on loans, losses on the sale of securities of
$154.4 million, and bond profits of $171.8 million. Income taxes of
$741.2 million were more than 46 percent greater than the 1959 payment of $506.5 million.
After the payment of taxes, net profits before dividends for all national banks in 1960 were $1,046.4 million, compared to $800.3 million
in 1959, an increase of 30.8 percent. The figure given is exclusive of
$295.6 million of both taxable and initially nontaxable earnings transferred to effect a net increase in bad debt and valuation reserves. The
sum of such net profits and net additions to reserves is equivalent to
10.8 percent of year-end capital accounts, up from 8.2 percent the
preceding year. Cash dividends of $450.9 million were paid to shareholders, compared with $422.9 million in 1959, both aggregate disbursements amounting to 4.1 percent of capital accounts for the respective year ends. Net earnings retained, including net additions to
reserves, amounted to $750.2 million, compared with $421.7 million
retained in 1959.
Set forth below is a 5-year schedule of earnings, expenses, dividends,
etc., per $100 (1) of assets and (2) capital funds.
Earnings, expenses, etc., of national banks for the years ended Bee. 31, 1956, 1957,
1958, 1959, and 1960
[In dollars.
•"Total assets at close of year
* Total capital accounts at close of year
•Gross earnings
Per $100 of assets.
Per $100 of capital funds
..
* Gross expenses
Per $100 of assets
Per $100 of capital funds
*Net earnings from operations
Per $100 of assets
Per $100 of capital funds*Net asset losses or recoveries (including
bond profits, etc.) 1
Per $100 of assets
Per $100 of capital funds
"Taxes (income)
Per $100 of assets
Per $100 of capital funds.
*Net profits before dividends.
Per $100 of assets
Per $100 of capital funds
"Cash dividends
Per $100 of assets, Per $100 of capital funds
* Retained earnings
Per $100 of assets
Per $100 of capital funds
""Indicates amounts in millions]
1956
1957
1958
1959
117,702
8,472
3,833
3. 26
45.24
2,336
1.99
27. 57
1,497
1.27
17. 67
120,523
9,093
4,284
3.55
47.11
2,707
2.25
29. 77
1,577
1.31
17.34
128,797
9,669
4,539
3.52
46.94
2,970
2.30
30. 71
1,569
1.22
16.23
132,636
10,302
5,183
3.91
50.31
3,338
2.52
32.40
1,845
1.39
17.91
139,261
11,098
5,755
4.13
51.86
3,709
2.66
33.42
2,046
1.47
18.44
-275
-.23
-3.25
432
.37
5.10
790
.67
9. 32
330
.28
3. 89
2 460
.39
5. 43
-180
-.15
-1.98
545
.45
5.99
852
.71
9.37
364
.30
4.00
2 488
.40
5.37
+224
+.17
+2.31
690
.54
7.14
1,103
.85
11.40
393
.30
4.06
2 710
.55
7.34
-494
-.37
-4.80
506
.38
4.91
845
.64
8.20
423
.32
4.11
2 422
.32
4.10
-104
-.07
-.94
741
.53
6.68
1,201
.86
10.82
451
.32
4.06
2 750
.54
6.76
1960
i Exclusive of transfers to and from reserve for bad debts and other valuation reserves on loans and securities but including net losses charged to these reserves.
a Includes funds transferred to reserve for bad debts and valuation reserves less the amount of assets
charged off against such reserve accounts. Includes $143 million in 1956, $121 million in 1957, $213 million in
1958, $44 million in 1959, and $155 million in 1960 transferred to effect a net increase in reserves for bad debts
and valuation reserves. (Taxes would have absorbed a portion of these amounts had the transfers not been
made.)
http://fraser.stlouisfed.org/
Federal Reserve Bank of St. Louis
10
REPORT OF THE COMPTROLLER OF THE CURRENCY
Bad Debt Reserves
Bad debt reserve accounts aggregated $1,224,198,000 at the close
of 1960 in the 2,937 national banks which were then using the reserve
method of accounting for income tax purposes. Those national banks
held loans aggregating $61,282,265,000 (94.3 percent of loans totaling
$65,000,205,000 owned by all national banks at the end of the year)
and the bad debt reserves equaled 2 percent of such loans.
There was a net increase of $87,887,000 in bad debt reserve accounts
during the year in those national banks which had such accounts on
December 31, 1960. The net increase was accomplished by transfers
and recoveries credited to these reserve accounts in the respective
total amounts of $216,523,000 and $40,399,000, less losses of $164,556,000 and withdrawals of $4,479,000.
Branch Banking
From January 1, 1960, through December 31, 1960, 732 applications
for permission to establish de novo branches were filed with the Comptroller by national banks. This represents the largest number of
applications received during any year in the history of the office.
The following represents the disposition of the 732 branch applications received during 1960:
Number
Approved (primary approvals of applications for permission to establish
branches)
Rejected
Withdrawn
In process of investigation and study
Total
349
89
36
258
732
Percentage
*
48
12
5
35
100
In 1960, certificates of authorization for the establishment and
operation of 566 branches were issued, including 17 which had not
yet opened for business on December 31, 1960. Twelve branches
which were approved in 1959 did not open for business until 1960.
This resulted in 561 branches opening for business during 1960. During this same period of time changes took place in existing branches,
and at year end there were 5,326 branches, including 3 seasonal
agencies, being operated by 908 of the total 4,530 active national
banks, and 7 nonnational banks in the District of Columbia, reconciled
as follows:
11 REPORT OF THE COMPTROLLER OF THE CURRENCY
State
Alabama
Alaska
Arizona
Arkansas
California
Colorado
Connecticut
District of Columbia..
Georgia
Hawaii
Idaho
Indiana
Iowa
Kansas
Kentucky
Louisiana
Maine
Maryland
Massachusetts
Michigan
Minnesota
Mississippi
Missouri
Nebraska
Nevada
New Hampshire
New Jersey
New Mexico
New York
North Carolina
North Dakota
Ohio
Oklahoma
Oregon
Pennsylvania
Rhode Island
South Carolina
South Dakota
Tennessee
Utah
Vermont
Virginia
Washington
Wisconsin
Virgin Islands
Total.
Branches in
operation
Dec. 31,1959
15
109
12
1,143
87
159
45
25
66
155
4
8
63
85
39
63
192
183
36
20
1
21
20
21
220
25
418
92
1
286
10
152
434
48
88
23
116
38
17
113
236
16
1
4,798
Branches
opened for
business
during 1960
Existing
branches discontinued or
consolidated
during 1960
10
16
4
100
1
11
1
12
3
1
21
4
5
15
7
8
17
14
24
561
33
1 Includes 30 branches in operation by 6 nonnational banks in the District of Columbia under the supervision of the Comptroller of the Currency.
2 Established prior to enactment of McFadden Act, Feb. 25,1927.
The unprecedented number of branches established during 1960
reflects the continuing population increase in outlying areas of large
cities and suburban areas, and the attendant need for additional
banking facilities. Traffic congestion and parking problems prompted
applicant banks to provide drive-in facilities in conjunction with 202
of the 561 branches opened for business during 1960. Branch offices
were established in 51 communities without previous banking service.
12
REPORT OF THE COMPTROLLER OF THE CURRENCY
Branches opened for business during 1960 were distributed among
areas with various population density, and established by banks of
various sizes, as follows:
In
In
In
In
In
suburban areas of large cities
cities with population less than 5,000
cities with population from 5,000 to 25,000
cities with population from 25,000 to 50,000
cities with population over 50,000
18
107
150
77
209
Total
561
By banks with less than $10MM total resources
By banks with total resources of $10MM to $25MM
By banks with total resources over $25MM
65
93
403
Total
561
In addition to reflecting the number of all banking units in relation
to population and total banking resources, the following tabulation
briefly summarizes the current status of branch banking statutes of
States, the District of Columbia, and possessions of the United States.
Number of
Total
Total
banking all banking banking
resources
units in
Number of Number of units as of
relation to (in millions
all banks all branches Dec. 31,
population: of dollars)
1960
1 per—
State
States permitting
statewide
banking:
Alaska
Arizona.
California
Connecticut
Delaware
District of Columbia
Hawaii
Idaho
Louisiana
Maine
—
Maryland
Nevada.
North Carolina
Oregon
Rhode Island
South Carolina
Utah
Vermont
Washington
branch
...
_
Total
States permitting branch banking within
limited areas:
Alabama
Arkansas i
Georgia
Indiana..
—
Iowa 1
Kansas *
Kentucky
Massachusetts
Michigan
See footnotes at end of table.
13
10
117
70
20
12
12
32
190
47
133
7
183
51
9
145
50
56
87
27
173
1,636
197
53
60
81
82
173
129
237
35
504
194
89
141
70
33
283
40
183
1,753
267
73
72
93
114
363
176
370
42
687
245
98
286
120
89
370
5,900
7,500
9,300
9,700
6,300
10,600
6,900
5,900
9,100
5,500
8,600
7,200
6,700
7,300
8,800
8,400
7,600
4,400
7,800
225
1,418
26,893
2,704
827
1,679
809
708
3,255
750
2,751
482
3,341
2,235
1,021
1,152
1,102
450
3,028
1,244
4,197
5,441
7,600
54,830
238
237
402
443
671
587
355
171
380
82
45
97
307
183
22
144
370
575
320
282
499
750
854
609
499
541
955
10,300
6,300
8,000
6,300
3,200
3,600
6,100
9,600
8,300
2,350
1,419
3,297
5,260
3,460
2,661
2,556
6,331
9,739
13 REPORT OF THE COMPTROLLER OF THE CURRENCY
Number of
Total
Total
banking all banking banking
Number of Number of units as of
units in
resources
all banks all branches Dec. 31,
relation to (in millions
population: of dollars)
1960
1 per—
State
States permitting branch banking within
limited areas—Continued
Mississippi
Missouri i
Nebraska *
New Jersey
New Mexico
New York
North Dakota i
Ohio
Oklahoma 1
Pennsylvania
South Dakota
Tennessee
Virginia
Wisconsin
Total
States prohibiting branch banking, or with
no laws regarding branch banking:
Colorado
Florida
Illinois
Minnesota
Montana
New Hampshire 2
Texas
„
West Virginia
__
Wyoming 2
Total
Total United States
Possessions:
Canal Zone3
Guam 8
Puerto Rico *
American Samoa
Virgin Islands. __
__
Total possessions
Total United States and possessions_
193
626
426
253
55
402
156
585
389
703
174
297
305
559
132
23
11
430
52
1,368
28
635
18
784
59
210
265
158
325
649
437
683
107
1,770
184
1,220
407
1,487
233
507
570
717
6,700
6,700
3,300
9,100
9,100
9,600
3,500
8,100
5,800
7,700
2,900
7,100
7,100
5,600
1,482
6,824
1,869
7,978
776
52,422
839
12,527
3,001
16,239
822
3,669
3,643
5,060
8,607
5,998
14,605
6,700
154,224
189
309
966
689
121
74
1,007
182
55
1
190
309
966
695
121
77
1,015
182
55
9,500
16,900
10,600
5,000
5,600
8,000
9,600
10,200
5,100
2,228
5,375
19,398
4,636
907
474
13,550
1,447
462
6
3
8
3, 592
18
3,610
9,000
48,477
13,443
10,213
23,656
7,700
257, 531
10
1
2
101
111
1
3
21,400
20,000
11,000
21
31
735
3
38
13
102
115
22,000
828
13,456
10,315
23, 771
7,800
258,359
1
1 State laws permit offices with limited powers only.
2 State laws silent regarding branch banking.
3 Figures represent foreign branches of banks in United States.
4 Figures include foreign branches of banks in United States.
NOTE.—Above figures do not include 515 mutual savings banks operating 486 branches with total resources
of $40,574 million.
Applications to Organize National Banks
Sixty-two applications to organize new national banks were received
during 1960. Preliminary approval was granted to 17 applications,
1 application was withdrawn, 22 denied, and 22 continue under
investigation and study. The 17 approved cases have resulted or
598026—61
2
14
REPORT OF THE COMPTROLLER OF THE CURRENCY
are expected to result in the organization of new national banks in the
following 11 States:
[Dollars in thousands]
Number
of approvals
California
Colorado
Florida
Georgia
Hawaii
Illinois
Iowa
Kentucky
Minnesota
New Jersey
New Mexico
Ohio
Oklahoma
South Carolina.
Texas
Virginia.
Washington
Wisconsin
Wyoming
1
1
1
1
1
2
1
1
1
6
_
1
Total
i 17
Number
of banks
opened
3
1
9
2
1
1
1
1
1
1
2
8
1
1
1
1
2 35
Approvals
total
capital
structure
$3,000
412.5
600
200
250
1,017.5
1,250
500
350
4,475
400
12,455
Banks
opened
total
capital
structure
$2,550
400
5,686.3
1,162.5
2,800
300
500
500
1,250
500
1,500
4,850
900
350
500
600
24,348.8
i Approvals include 6 applications received in 1960 which actually opened for business as national banks.
The remaining 11 had not completed organization.
a Includes 29 applications which were originally received in 1957, 1958, and 1959, subsequently approved
and opened for business during 1960.
Bank consolidations, mergers, and sales
During I960, the Comptroller approved 87 consolidations, mergers,
or cash absorptions as compared to 86 during 1959. In 1960, 82
national banks absorbed 43 national and 44 State banks. Eleven
national banks and 38 State banks were absorbed by other State
banks as compared to 85 such absorptions the previous year.
Consolidationsj mergers, purchases—1960
Number
of
banks
35
35
8
9
87
1
10
38
49
136
Total resources (in
millions
of dollars)
Type
National banks consolidated or merged with and into 34 national banks
State banks consolidated or merged with and into 31 national banks
National banks purchased by 8 national banks
State banks purchased by 9 national banks
1,399
Approved by the Comptroller of the Currency
National bank purchased by 1 State bank
National banks consolidated or merged with and into 10 State banks.
State banks merged, consolidated or purchased by other State banks
Approved by State banking departments
Total banks absorbed
_
528
814
23
34
—
3
306
1,087
1,396
2,795
15 REPORT OF THE COMPTROLLER OF THE CURRENCY
Conversions
State banks converted into national banks. _
National banks converted into State banks..
Total
1
Number
Resources
(in millions of
dollars)
14
6
349
25
23.5—converted into 14 national banks.
2.3—converted into 6 State banks.
20
374
25.8.1
Capital structure
(in millions of dollars)
Reserves included in capital structure.
The shareholders of 70 national and State banks consolidated with
65 national banks received cash and book value stock from the 65
continuing banks aggregating $135,600,998 or $11,363,406 in excess
of the aggregate book value of assets which those banks contributed
to the consolidations. The excess amounted, on the average, to 0.94
percent of the aggregate deposits acquired by the continuing banks.
On an estimated fair value assumption basis, the shareholders of the
70 absorbed banks contributed assets having an estimated fair value
in excess of liability to creditors, of $129,884,499 and received cash
and fair value stock of the continuing banks aggregating $137,623,933
or $7,739,434 in excess of the aggregate fair value of assets which
those banks contributed to the mergers or consolidations. The difference is accounted for through an estimated or fair appraisal value
of fixed assets (bank premises, furniture, and fixtures), bond appreciation or depreciation, allowances for pension fund adjustments, excess
reserves for taxes, et cetera, and amounted on the average to approximately 0.64 percent of the aggregate deposits acquired by the
continuing banks.
The shareholders of 8 national banks and 9 State banks, which were
purchased by 17 national banks, received $6,566,223 in cash or
$756,750 in excess of the selling banks' aggregate capital structures.
This amounted, on the average, to 1.17 percent of the selling banks'
deposits.
In the period from January 1, 1950, through December 31, 1960,
the Comptroller's office approved the acquisition by national banks
of 440 national banks and 460 State banks through consolidation,
merger, or sale. After approval by their respective State banking
departments, State-chartered banks absorbed 265 national banks.
In addition, 470 State-chartered banks consolidated or merged with,
or were purchased by other State-chartered institutions. The fol-
REPORT OF THE COMPTROLLER OF THE CURRENCY
16
lowing table shows the number of banks which have been absorbed
since 1950 and their total resources.
Data on consolidations, mergers, purchases and sales, and conversions—1950
Dec. 81, 1960
Number
of
banks
182
98
160
440
162
91
207
460
1
1
2
4
904
168
97
470
Type
National banks consolidated with and into other national banks
National banks merged with other national banks
National banks purchased by other national banks
Total
Total resources (in
millions
of dollars)
4,210
1,968
1,466
7,644
State-chartered banks consolidated with and into national banks
State-chartered banks merged with national banks
State-chartered banks purchased by national banks
3,682
1,095
1,375
Total
District of Columbia nonnational bank consolidated with and into District of Columbia national bank
District of Columbia national bank purchased by District of Columbia nonnational
bank
District of Columbia nonnational bank purchased by District of Columbia nonnational bank
55
75
Total
Approved by Comptroller of the Currency
National banks consolidated or merged with State-chartered banks
National banks purchased by State-chartered banks
State-chartered banks, merged, consolidated, or purchased by other State-chartered
banks
Approved by State banking departments
1,639
to
14,012
9,605
914
8,384
18,903
Total for absorbed banks
CONVERSIONS—1950 TO DEC. 31, 1960
National banks converted into State-chartered banks.
State-chartered banks converted into national banks.
207
1,253
Fiduciary Activities of National Banks
As of December 31, 1960, 1,738 national banks or 38.4 percent were
authorized by the Board of Governors of the Federal Reserve System
to exercise either full, limited, or specific trust powers. Of this
number two banks were absorbed by consolidation or merger with
other national banks as of the end of the year but filed separate reports
on fiduciary activities and are considered as separate institutions for
the purposes of this report. Twenty-eight national banks had specific
powers only and four others had combinations of specific and limited
powers. In addition three nonnational banks located in the District
of Columbia were exercising trust powers. National banks with
trust powers but not exercising them numbered 231 or 13.3 percent of
those with trust powers. Of this group 16 were granted powers
during 1960, and it is presumed that 15 of the 16 will become active.
During the year 1960, 30 national banks were added to the list of
those with trust powers, and 3 received supplemental powers while the
trust powers of 30 national banks were absorbed through merger or
consolidation.
17 REPORT OF THE COMPTROLLER OF THE CURRENCY
There is no uniform system for carrying values of trust department
assets among corporate fiduciaries. Essentially there are two systems
employed which are (1) cost for assets purchased with appraised values
for assets received in kind, and (2) unit value. Unit value systems
carry bonds at $1 per $1,000 and stock at $1 per share or sometimes
par value is used. A combination of both systems is usually found in
any trust department and figures taken from trust ledgers have little
meaning in relation to the actual value of the property held. The
unit value system has the advantage of permitting assets to be set
up immediately at a permanent carrying figure for audit purposes but
usually requires the keeping of another set of books for tax purposes.
The trust figures as to dollar value which appear in this report and
its appendix, except for figures on employee welfare and pension benefit plans for which national banks are trustees, are valuable primarily
for comparative purposes from year to year. It is believed that to
require national banks to furnish market values as of any given date
would place a substantial and unjustified burden upon the banks and
would be subject to other objections.
Of the total liabilities for accounts held by trust departments as of
December 31, 1960, 35.2 percent were in living trusts and court
accounts, and 64.4 percent in agency type accounts, and 0.4 percent in
all other liabilities. Gross earnings for 1960 were $200,599,000 which
is an increase of $18,583,000 over the previous year and an all-time
high.
At the end of 1960 there were 247 common trust funds operated
under section 17(c) of regulation F in 173 national banks. These
funds showed a total ledger value of $799,989,507. Three nonnational
banks in the District of Columbia operated four such funds with total
ledger value of $13,213,010.
Tables 23 and 24 of the appendix show for the third time the market
value of securities held in employee benefit accounts for which national
banks are trustees. Most of the valuations were made during the
year 1960, but a few 1959 and 1961 valuations have been used.
Agency accounts held by the banks which are not the trustee of any
such plan are not included in the agency figure. Thefiguressubmitted
cover 769 national banks and 3 nonnational banks which is an increase
of 3.4 percent during the year. The increase since the previous
report is 16.7 and 12.9 percent in the number of plans and market
value where the bank is trustee and has investment authority. For
plans where the bank is trustee with no investment authority the
increase is 23.2 and 27 percent, respectively.
Legislation Enacted
Public Law 86-463, approved May 13, 1960, amended section 18(c)
of the Federal Deposit Insurance Act (12 U.S.C. 1828) to require that
all mergers, consolidations, purchases of assets, or assumptions of
liabilities by insured banks must have the prior written consent of the
Comptroller of the Currency, if the acquiring or resulting bank is a
national bank or a District bank; of the Board of Governors of the
Federal Reserve System, if the acquiring or resulting bank is a State
member bank; of the Federal Deposit Insurance Corporation, if the
acquiring or resulting bank is a nonmember insured State bank.
18
REPORT OF THE COMPTROLLER OF THE
CURRENCY
The act requires that the Federal banking agencies consider the
following factors: the financial history and condition of each of the
banks involved, the adequacy of its capital structure, its future earnings prospects, the general character of its management, the convenience and needs of the community to be served, and whether or
not its corporate powers are consistent with the purposes of the
Federal Deposit Insurance Act.
The agency must also take into consideration the effect of the
transaction on competition, including any tendency toward monopoly,
and it shall not approve the transaction unless it finds the transaction
to be in the public interest.
In the interest of uniform standards, before the agency having
jurisdiction acts on a merger, consolidation, acquisition of assets or
assumption of liabilities, the agency must request a report on the
competitive factors involved from the Attorney General and the other
two bank agencies which report must be furnished within 30 calendar
days. The requesting agency, if an emergency exists requiring
expeditious action, may request the reports within 10 days, or if it
finds it must act immediately to prevent the probable failure of one
of the banks, may waive the reports.
Notice of any proposed merger, consolidation, acquisition of assets
or assumption of liabilities in a form approved by the Comptroller,
the Board, or the Corporation must be published in a newspaper of
general circulation in the community or communities where the main
offices of the banks involved are located. If there is no such newspaper in such community, then publication must be made in the
newspaper of general circulation published nearest thereto. This
notice is to rim for the same period as is allowed for the furnishing of
the reports of the Attorney General and the other two banking agencies.
The approving agency must publish in its annual report with respect
to each transaction approved by it, the name and total resources of
each bank involved, a summary by the Attorney General of the substance of his report, and a statement of the basis for its approval.
For the legislative history of this enactment, and the information
required by it to be included in this report, see page 33.
Examinations Conducted
The National Bank Act requires that each national bank be examined at least twice each year in order that the Comptroller may be
currently informed of its condition and require such corrections as
are deemed necessary with a view to maintaining each bank in sound
condition. However, the Comptroller is authorized to waive an
examination with respect to any particular bank not more frequently
than once in a 2-year period. In addition to the regular examinations,
special examinations are conducted of banks when it is considered
necessary. Also, the District Code authorizes the Comptroller to
examine each nonnational bank and trust company in the District
of Columbia.
During the year ended December 31, 1960, 6,517 examinations of
banks, 6,834 examinations of branches, 1,558 examinations of trust
departments and trust branches, and 120 examinations of affiliates
19 REPORT OF THE COMPTROLLER OF THE CURRENCY
were conducted. Twenty foreign branches located in five countries
were also examined. Three State banks were examined in connection
with consolidations and mergers with, or purchase by, national banks,
and eight State banks were examined in connection with conversions
to national banks. Investigations were conducted in connection with
applications for 60 new charters and 582 new branches.
Organization and Staff
The total personnel of the Office of the Comptroller of the Currency
on December 31, 1960, consisted of 1,190 persons, 194 of whom were
employed in the Washington office, including 33 in the Federal Reserve Issue and Redemption Division, the operating expense of which
is borne by the Federal Reserve Banks. The total number employed
in the Washington office decreased by 2 during the year. The number in the field service increased by 46 during the year 1960 to a
total of 996.
More than 88 percent of the field personnel consisted of the national
bank examining staff which at the year end numbered 266 examiners
and 611 assistant examiners. During the year, 20 national bank examiners left the service by resignation, retirement, and due to deaths,
1 was promoted to District Chief National Bank Examiner, and 1
was promoted to Assistant Chief National Bank Examiner in the
Washington office. Also during the year, 29 assistant examiners were
promoted to examiner and a former examiner was reappointed, resulting in a net increase of 8 examiners. Of the staff of assistant
examiners, 100 left that status during the year by resignation, retirement, promotion to examiner, etc., and 138 assistant examiners were
added to the staff, a net increase of 38.
First Deputy Comptroller of the Currency L. A. Jennings resigned
as of May 15, 1960, to accept the position of senior vice president of
the Republic National Bank of Dallas. Chief National Bank Examiner Hollis S. Haggard succeeded Mr. Jennings as First Deputy
Comptroller, and Mr. Reed Dolan, who had been serving as District
Chief National Bank Examiner in charge of the Dallas office, was
appointed to succeed Mr. Haggard. District Chief National Bank
Examiner C. B. Redman was transferred from the Cleveland office to
Dallas to succeed Mr. Dolan, and he was succeeded by Mr. Justin T.
Watson who had been serving as an Assistant Chief National Bank
Examiner in the Washington office. National Bank Examiner Elmer
J. Peterman was promoted to Assistant Chief National Bank Examiner to succeed Mr. Watson.
Following the sudden death of District Chief National Bank Examiner Lester V. Bailey, of the Atlanta office, Mr. John D. Gwin, in
charge of the Richmond office, was transferred to Atlanta. Mr.
Norman R. Dunn, who had been serving as a national bank examiner
in the San Francisco district, was transferred to Richmond to succeed
Mr. Gwin.
Mr. William J. Rusch, Chief of the Organization Division, retired
on July 31, 1960, and was succeeded by Mr. Joseph T. Connolly, who
had been serving as Assistant Chief of the division.
The educational program for national bank examiners and assistants, mentioned in previous reports, continued during the year, and
20
REPORT OF THE COMPTROLLER OF THE CURRENCY
at the year end 431 examiners and assistants had completed the courses
given in the interagency school established jointly in 1952 by the
Comptroller of the Currency, the Board of Governors of the Federal
Reserve System, and the Federal Deposit Insurance Corporation.
Courses at the Graduate Schools of Banking, at Rutgers University,
the University of Wisconsin, the University of Washington, the
University of Louisiana, the University of Colorado, and Southern
Methodist University, had been completed by 81 examining staff
members at the year end and 22 were still enrolled in courses at these
schools. Extension courses given by the American Institute of Banking had been completed by 322 members of the examining staff at
the year end and 251 were still enrolled in these courses.
The following table which has appeared in previous reports is again
included to show how the work of the entire staff of 1,190 employees
is organized and their services utilized.
Assistant examiners, asExecutive sistant counsel,
or super- administrative
visory
assistants,
auditors, secretaries, typists,
clerks
Division
Total
I . EXECUTIVE ORGANIZATION
(Policy and general supervision, all located in Washington, D.C.)
Comptroller of the Currency
Deputy Comptrollers
Chief National Bank Examiner
-
-
-
I I . FIELD ORGANIZATION
(Located in 12 Federal Reserve Districts)
District Chief National Bank Examiners
Policy and supervision, subject to executive staff in group I,
above, of all field activities.
National Bank Examiners
—
Perform examination of 4,537 banks, 5,326 branch offices, and
make investigations of new branch and charter applications, etc.
Assistant National Bank Examiners
Assist National Bank Examiners.
12
119
254
254
611
266
131
611
730
I I I . WASHINGTON STAFF ORGANIZATION
(a) Examining Division
Assistant Chief National Bank Examiners.
Receive and analyze all reports of examination of national and
District banks, and investigation reports on new branches and
charters. Make recommendations to executive staff in group I,
above, as to dispositions of cases, and prepare letters to banks,
District chiefs, and others. Confer with bankers, executive and
staff representatives of the Federal Reserve System and the
Federal Deposit Insurance Corporation, and District Chief
National Bank Examiners, regarding banking and supervisory
matters. One Assistant Chief also serves as head of the field
organization educational programs.
22
30
21 REPORT OF THE COMPTROLLER OF THE CURRENCY
Division
Assistant examiners, asExecutive sistant counsel,
or superadministrative
visoryassistants,
auditors, secretaries, typists,
clerks
Total
I I I . WASHINGTON STAFF ORGANIZATION—Continued
(b) Organization Division
Supervises activities of all national and District banks as to
corporate and organization matters; i.e., new charters, branches,
consolidations, mergers, purchase and assumption cases, sale of
new capital stock, stock dividends, articles of association, etc.
Final decisions made by executive staff in group I, above, after
review with recommendations by Assistant Chief National
Bank Examiners, and usually with the benefit of facts and
recommendations furnished by District Chief National Bank
Examiners and National Bank Examiners.
(c) Legal Division
Serves as counsel for the Comptroller of the Currency. Considers all legal matters arising in the organization, operation,
merging, and discontinuance of national and District banks.
Prepares opinions, rulings, and correspondence on legal questions. Assists on all legislative matters. Exercises general
supervision over conduct of litigation.
(d) Personnel and Administrative Division
Performs functions relating to recruitment, transfer, promotion, separation, retirement, time, and leave. Supervises and
includes personnel in mail and files section, supply and duplicating section, stenographic pool, and messenger pool.
(e) Reports and Precedents Division
Maintains all legal and policy precedents; receives reports of
examination of all national and District banks from District
Chief National Bank Examiners for binding, recording, and
distribution. Supervises and places orders for printing work
that pertains to examining division and the field organization.
(f) Statistical Division
Compiles data indicative of banking trends for the information of the Comptroller and his staff, Congress, other banking
agencies, bankers, economists, and others through examination
and tabulation of data incorporated in call reports of condition
and reports of earnings and dividends of national and District
banks.
(g) Auditor for the Comptroller
Accountable to the Comptroller of the Currency only. Maintains audits for the Comptroller of all accounts covering funds
under control of the Disbursing Office including detailed audits
of all collections and disbursements of funds; prepares and submits periodic audit reports to Comptroller; tabulates information and statistics on special subjects.
(h) Disbursing Division
Receives all checks in payment of fees for examinations and
makes deposits to the Comptroller's Treasury account. Maintains accounts covering funds of Examining Division and of
Federal Reserve Issue and Redemption Division and makes all
disbursements from these accounts covering payrolls, travel
vouchers, and miscellaneous expenses. Makes all purchases of
equipment and supplies from Examining Division funds.
(i) Federal Reserve Issue and Redemption Division
All expenses of this division paid by Federal Reserve banks.
Handles the issuance and redemption of Federal Reserve currency as provided under the Federal Reserve Act. Maintains
detailed records of all shipments of original currency issues and
of unfit currency notes destroyed.
23
24
25
21
23
27
31
25
Grand total,.
17
297
156
181
1,190
22
REPORT OF THE COMPTROLLER OF THE
CURRENCY
Expenses oj the Bureau
A summary statement of the operating expenses of the Bureau for
the year ended December 31, 1960, follows:
Salaries
Per diem
Transportation
Supplies
Printing, books, and periodicals
Rent
Furniture and fixtures
Communications
Fixed charges
Maintenance
Treasurer's Federal Reserve note audit expense
Employer's F.I.C.A. and Insurance Fund contributions
Employer's civil service retirement contributions
Miscellaneous
Total
Bank supervision
Currency
issue and
redemption
Total
$8,104,045.94
1,651,369.82
604,626.04
27,631.16
89,203.69
160,957.98
42,402.93
64,004.56
0
0
0
58,239.17
517,395.82
49,923. 53
$165,921.01
0
0
1,052.99
259.43
0
0
499.57
17,068.40
311.09
12,200.00
1,361.73
10,683.75
5,887.05
$8,269,966.95
1,651,369.82
604,626.04
28,684.15
89,463.12
160,957.98
42,402.93
64,504.13
17,068.40
311.09
12,200.00
59,600.90
528,079.57
55,810.58
11,369,800.64
215,245.02
11, 585,045.66
Funds used in payment of the bank supervision costs are derived
from assessments against the banks supervised. The cost of operating
the division which handles the currency issue and redemption functions is paid by the Federal Reserve banks.
A comparison of the assets and liabilities of the banks in the national
banking system as of December 31, 1959, March 15, June 15, October 3, and December 31, 1960, reported pursuant to calls for condition statements by the Comptroller of the Currency, is shown
in the following table.
and liabilities of national banks on dates indicated
[In thousands of dollars]
Dec. 31, 1959
(4,542 banks)
Mar. 15, 1960
(4,541 banks)
June 15, 1960
(4,542 banks)
Oct. 3, 1960
(4,535 banks)
Dec. 31, 1960
(4,530 banks)
ASSETS
Loans and discounts, including overdrafts
U.S. Government securities, direct obligations
Obligations guaranteed by U.S. Government
Obligations of States and political subdivisions
Other bonds, notes, and debentures
Corporate stocks, including stocks of Federal Reserve banks
Total loans and securities
Cash, balances with other banks, including reserve balances, and cash items in process
of collection
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
Other assets
Total assets
59,961,989
31, 723,878
37,092
9,036,149
1,553, 557
302,179
102,614,8U
60,355,023
29,639,498
53, 702
9,020,152
1, 403,833
306, 750
100,
778,958
62,397,733
29,227,240
70,438
8,984, 454
1,318, 874
310,631
102,309,370
63,137,178
30, 507, 592
91,209
9,123,621
1,245,349
316, 748
104,421,697
63,693,668
32,615,321
96,402
9,408,711
1,407, 576
324,184
107,545,862
27,464,245
1,476,979
45,113
142,737
291,947
600,248
25,868,201
1, 513, 756
50,719
151,030
378,048
583,246
26,379,669
1, 567, 086
56,654
158, 748
361, 763
599,884
25,846,362
1,640,168
53,467
169, 502
419,342
689,799
28,674, 506
1,685, 524
51,164
173,611
463,691
666, 509
132, 636,113
129,323,958
131, 433,174
133,240,337
139,260,867
62,496,399
34,385,356
2, 945,079
8,469,237
9,460,445
1,881,161
60,223,228
34,182,165
2, 725, 979
7,925,607
8,226,436
1,416,171
59, 649,364
34, 650, 471
3, 778,109
8,137, 561
8, 409,880
1, 552,826
59,025, 547
35,972, 754
4,096,097
8,473,965
8,885,686
1, 509,134
63,131,263
36, 761,292
3, 456, 544
9,297,327
10,439,491
1,824,934
119,637,677
114,699, 586
116,178,211
117,963,183
124,910,851
82,703,11436,934,563
77,918,839
36,780, 747
78,801,033
37,377,178
78,998, 753
38,964,430
84, 754,054
40,156, 797
LIABILITIES
Demand deposits of individuals, partnerships, and corporations
Time deposits of individuals, partnerships, and corporations
Deposits of U.S. Government and postal savings
Deposits of States and political subdivisions
Deposits of banks
Other deposits (certified and cashiers' checks, etc.)
Total deposits
Demand deposits
Time deposits
Bills payable, rediscounts, and other liabilities for borrowed money
Mortgages or other liens on bank premises and other real estate
Acceptances outstanding
Other liabilities
Total liabilities
340,362
3,424
307, 511
2,045,022
1,559,321
3,081
386,295
2,229, 762
1,490,892
3,086
371,482
2, 703,341
1,013,323
2,967
426, 827
2,824, 584
110,590
3,189
474, 565
2, 663,334
122,333,996
118,878,045
120, 747, 012
122,230, 884
128,162, 529
fcO
00
and liabilities of national banks on dates indicated—Continued
to
[In thousands of dollars]
Dec. 31, 1959
(4,542 banks)
Mar. 15,1960
(4,541 banks)
June 15, 1960
(4,542 banks)
Oct. 3, 1960
(4,535 banks)
Dec. 31, 1960
(4,530 banks)
CAPITAL ACCOUNTS
Capital stock (see memoranda below)
Surplus
_
Undivided profits
_
_
Reserves and retirement account for preferred stock
3,169,742
5,062,084
1,814,637
255,654
--
Total capital accounts
Total liabilities and capital accounts
Par value of capital stock:
Common stock.
Preferred stock
3,265,182
5,164, 562
2,019,267
237,151
3,308,077
5, 250,859
2,201,129
249,388
3,342,850
5,446,143
2,030,052
279,293
10,302,117
10,445,913
10,686,162
11,009,453
11,098,338
132,636,113
129,323,958
131,433,174
133,240,337
139,260,867
3,166,651
3,091
3,240,119
3,037
3, 263,652
1,530
3,306, 547
1,530
3,341,320
1,530
3,169, 742
3,243,156
3,265,182
3,308,077
3,342,850
3,291
3,237
1,712
1,712
1,712
16, 568,144
16,553,224
17,132,783
17,952,128
17,409,980
MEMORANDA
_
-
Total
Retirable value of preferred capital stock.
Assets pledged or assigned to secure liabilities and for other purposes (including notes and
bills rediscounted and securities sold with agreement to repurchase)
3,243,156
5,110, 791
1,850, 560
241,406
W
•a
o
w
^
o
H
o
og
•tf
w
o1
IT
tr«
W
W
o
H
w
w
fel
3
REPORT OF THE
COMPTROLLER
OF THE
CURRENCY
2 5
TRENDS IN BANKING
The following table shows the changes that have occurred in recent
years in the relationships of the major asset and liability accounts of
national banks to the aggregate of assets and liabilities.
Distribution of assets and liabilities of national banks, Dec. 81, 1957-60
ASSETS
Securities:
U.S. Government, direct and guaranteed
Obligations of States and political subdivisions
Stock of Federal Reserve banks
Other bonds and securities
Total securities
Loans and discounts
Cash and balances with other banks, excluding reserves
Reserve with Reserve banks
Bank premises, furniture, and fixtures
Other real estate owned
All other assets
Total assets
1957
1958
1959
Percent
26.00
6.22
.18
1.60
Percent
27.81
6.87
.18
1.47
Percent
23.95
6.81
.19
1.21
Percent
23.49
6. 76
.19
1.05
34.00
36.33
32.16
31.49
41.90
12. 77
9. 53
.98
.03
.79
40. 99
12. 21
8. 65
1.03
.03
.76
45.21
12.23
8.48
1.11
.03
.78
45.74
12.95
7.64
1.21
.04
.93
100.00
100.00
100.00
100.00
48.72
24.18
2.00
6. 53
7.87
1.50
47.97
25.32
1.99
6. 54
7.62
1.46
47.12
25.92
2.21
6.39
7.13
1.43
45.33
26.40
2.48
6.67
7. 50
1.32
90.80
90.90
90.20
89.70
64.62
26.18
1. 65
63.16
27.74
1. 59
62.35
27.85
2.03
60.86
28.84
2.33
2.33
3.67
1. 55
2.29
3.67
1.55
2.39
3.82
1. 56
2.40
3.91
1. 66
1960
LIABILITIES
Deposits:
Demand of individuals, partnerships, and corporations.
Time of individuals, partnerships, and corporations
U.S. Government
States and political subdivisions
Banks...
Other deposits (including postal savings)
Total deposits
Demand deposits
Time deposits
Other liabilities
Capital funds:
Capital stock
Surplus
Undivided profits and reserves
Total capital funds
Total liabilities and capital funds
7. 55
7.51
7.77
7.97
100.00
100.00
100.00
100.00
26
REPORT OF THE COMPTROLLER OF THE CURRENCY
EARNINGS, EXPENSES, AND DIVIDENDS OF NATIONAL BANKS FOR
YEAR ENDED DECEMBER 31, 1960
Summaries of the earnings, expenses, and dividends of national
banks for the years ended December 31, 1959 and 1960, are shown in
the following table.
Earnings, expenses, and dividends of national banks for years ended Dec. 81, 1959
and 1960
[In millions of dollars]
1960
Number of banks 1
Capital stock (par value) *
Capital accounts 2_
-
Earnings from current operations:
Interest and dividends on—
U.S. Government obligations
Other securities
Interest and discount on loans
Service charges on deposit accounts
Other current earnings
—
Total
Net earnings from current operations.
Recoveries, transfers from valuation reserves, and profits:
On securities:
Recoveries
Transfers from valuation reserves
Profits on securities sold or redeemed
On loans:
Recoveries
Transfers from valuation reserves
All other
Total
Losses, chargeoffs, and transfers to valuation reserves:
On securities:
Losses and chargeoffs.
Transfers to valuation reserves
On loans:
Losses and chargeoffs
Transfers to valuation reserves
All other
Total
Profits before income taxes
Taxes on net income:
Federal _ _
State__
Total
Net profits before dividends
See footnotes at end of table.
-
—
Change
since
1959
4,530
3,259.3
10,695.5
4,542
3,066.6
10,003.9
—12
+192.7
+691.6
941.7
307.7
3,662.5
327.7
516.0
923.6
291.2
3,187.4
294.8
486.1
+18.1
+16.5
+475.1
+32.9
+29.9
5,755.6
Total
Current operating expenses:
Salaries, wages, and fees
Interest on time deposits (including savings deposits)
Taxes other than on net income
T
Recurring depreciation on banking house, furniture, and fixtures
Other current operating expenses
1959
5,183.1
+572. 5
1,496.4
978.7
163.7
1,371.8
866.7
143.4
+124.6
+112.0
+20.3
116.3
954.2
104.7
851.6
+11.6
+102.6
3,709.3
3,338.2
+371.1
2,046.3
1,844.8
+201. 5
7.5
33.3
171.8
15.7
69.7
24.8
-8.2
-36.4
+147.0
8.6
38.0
50.5
9.4
23.7
27.3
-.8
+14.3
+23.2
309.7
170.5
+139.2
122.1
102.0
361.6
96.7
-239.5
+5.3
16.3
264.9
63.0
11.1
184.3
54.9
+5.2
+80.6
+8.1
568.3
708.5
-140.2
1,787.7
1,306.8
+480.9
704.8
36.5
482.5
24.0
+222.3
+12.5
741.2
506.5
+234.7
1,046.4
800.3
+246.1
27 REPORT OF THE COMPTROLLER OF THE CURRENCY
Earnings, expenses, and dividends of national banks for years ended Dec. 81, 1959
and 1960—Continued
[In millions of dollars]
1960
Cash dividends declared:
On preferred stock
On common stock
Total
Memoranda items:
Recoveries credited to valuation reserves (not included in
recoveries above):
On securities
On loans
—
Losses charged to valuation reserves (not included in losses
above):
On securities
On loans
Stock dividends (increases in capital stock).
Ratios:
E xpenses to gross earnings
Net profits before dividends to capital accounts
Cash dividends to capital stock
Cash dividends to capital accounts
1959
Change
since
1959
0.1
450.8
0.2
422.7
-0.1
+28.1
450.9
422.9
+28.0
13.7
42.9
2.6
45.4
+11.1
-2.5
32.2
38.0
100.7
121.9
69.4
113.4
-89.7
-31.4
-12.7
Percent
64.45
9.78
13.84
4.22
Percent
64.41
8.00
13.79
4.23
Percent
+.04
+1.78
+.05
-.01
* Number at end of period. Remaining figures include earnings, expenses, etc., of those banks which
were in operation a part of the year but were inactive at the close of the year.
* Figures are averages of amounts reported for the June and December call dates in the current year and
the December call date in the previous year.
NOTE.—Figures are rounded to the nearest 10th of a million and may not equal totals.
STRUCTURAL CHANGES IN THE NATIONAL BANKING SYSTEM
The authorized capital stock of the 4,527 national banks in existence
on December 31, 1960, consisted of common capital stock aggregating
$3,342,273,292, a net increase during the year of $174,576,514, and
preferred capital stock of $1,529,370, a net decrease during the year
of $1,561,300. These figures include two banks recently chartered
but not yet open for business, one bank which resulted from the
conversion of a State bank at the close of business on December 31,
1960, and one bank in the process of going into voluntary liquidation.
The figures exclude seven banks which furnished reports of condition
in response to the call, although five of them had merged or consolidated with other national banks, and two had merged or consolidated with two State banks, all effective as of the year end.
In addition to 74 applications with proposed common capital stock
of $23,325,000 carried over from the previous year, 74 applications
were received to organize national banks and to convert State banks
into national banking associations with proposed capital stock of
$28,492,750. Of these applications, 39 with proposed common
capital stock of $17,187,750 were approved; 37 with proposed common
capital stock of $11,070,000 were rejected; and the remainder had
been abandoned or were still pending on December 31. From the
applications carried over from the previous year and those approved
during 1960, 48 national banking associations with common capital
stock of $21,642,750 were authorized to commence business. Of the
charters issued, 14 with common capital stock of $9,242,750
resulted from the conversions of State banks.
28
REPORT OF THE COMPTROLLER OF THE CURRENCY
Changes in the number and capital stock of national banks during
the year ended December 31, 1960, are shown in the following
summary.
Organization, capital stock changes, and national banks closed as reported during
the year ended Dec. 31, 1960
Number of
banks
Increases:
Banks newly chartered:
Primary organizations
.
Reorganizations
Conversions of State banks
Capital stock—Common:
256 cases by statutory sale
504 cases by statutory stock dividend.
33 cases by statutory consolidation
22 cases by statutory merger
34
14
Common
Preferred
$12, 400,000
242,"750"
36, 966,955
100, 705,324
17, 552, 585
6, 468, 575
183,;
Total increases..
Decreases:
Banks ceasing operations:
Voluntary liquidations:
Succeeded by national banks
Succeeded by State banks
Statutory consolidations
Statutory mergers
Conversions into State banks
Merged or consolidated with State banks (Public Law
706)
Receivership
Capital stock:
Preferred:
4 cases by retirement
Common:
1 case by statutory consolidation
4 cases by statutory merger
Capital stock
955,000
75,000
580,000
10
6,735,000
$1, 561,300
50,000
364,675
8, 759,675
Total decreases.
Net change
Charters in force Dec. 31, 1959, and authorized capital stock,.
4,539
Charters in force Dec. 31,1960, and authorized capital stock..
4,527
-12
174, 576, 514
, 167. 696. 778
3,342,273,292
1, 561, 300
-1, 561, 300
3, 090, 670
1, 529, 370
SUMMARY OF STATUS OF NATIONAL BANK NOTES OUTSTANDING
U.S.C., title 12, sections 101 and 101a authorize any national bank
to receive circulating notes from the Comptroller of the Currency,
provided the bank deposits certain specified U.S. bonds with the
Treasurer of the United States as security for the issuance of the notes.
U.S.C., title 12, section 109 authorizes any bank, receiving circulating
notes under the above section, to circulate the same. This and other
provisions of the National Banking Acts relative to the issuance of
circulating notes by national banks remain unrepealed and effective.
However, due to the expiration on January 22, 1935, of the circulation privilege conferred on U.S. bonds by the act of July 22, 1932, and
the calling for redemption of United States 2-percent Panama Canal
loan bonds, as of August 1, 1935, by a call dated March 11, 1935, there
were no longer any bonds eligible to be deposited with the Treasurer of
the United States as security for the issuance of circulating notes by
29
REPORT OF THE COMPTROLLER OF THE CURRENCY
national banking associations. Therefore, due to the fact that there
were no longer any eligible bonds to be deposited as security for the
issuance of circulating notes, the issuance of new notes ceased. The
banks at this time which had notes circulating for which they were
liable either sold the bonds securing the issuance of their notes or
directed the sale thereof by the Treasurer of the United States and
paid the Treasurer of the United States as much of the proceeds as was
necessary to redeem their outstanding notes. Having done this, the
banks' liability for the notes ceased and the United States became
liable therefor. These notes are being constantly redeemed by the
United States. As of December 31, 1960, $55,320,721 of national
bank notes remained outstanding.
ASSETS AND LIABILITIES OF ALL BANKS IN THE UNITED STATES
AND POSSESSIONS
The total assets of all classes of active banks in the United States
and possessions on December 31, 1960, amounted to $298,933 million,
an increase of $14,575 million since December 31, 1959.
The total deposits at the end of 1960 amounted to $266,885 million,
an increase of $11,388 million over 1959. Included in the latter
aggregate are deposits of individuals, partnerships, and corporations
of $220,754 million, an increase of $6,411 million in the year. Deposits of the U.S. Government, including postal savings deposits,
were $6,242 million, an increase of $870 million; deposits of States and
political subdivisions amounting to $16,370 million showed an increase of $1,621 million, and deposits of banks of $18,899 million were
$1,795 million more than in 1959.
Loans and discounts amounted to $145,255 million in December
1960 after deducting reserves of $2,590 million for possible future
losses. The net loans were $8,845 million over the amount reported
as of the end of 1959. Commercial and industrial loans of $43,463
million were $2,973 million more than the 1959 figure; real estate
loans of $55,741 million were up $2,604 million, and all other loans
of $48,641 million increased $3,456 million.
The banks held obligations of the U.S. Government, direct and
guaranteed of $67,343 million in December 1960, an increase of
$1,461 million in the year. Obligations of States and political subdivisions held amounted to $18,281 million, an increase of $566
million, and other securities held amounted to $8,393 million, a
decrease of $23 million. The total of all securities held at the end of
1960 was $94,017 million, and represented 31 percent of the banks'
total assets. At the end of the previous year the ratio was 32 percent.
Cash and balances with other banks, including reserve balances,
in 1960 were $53,105 million, an increase of $2,743 million since the
previous year end.
Total capital accounts were $24,603 million, compared to $22,973
million at the end of 1959, an increase of 7 percent.
A statement of the assets and liabilities of all classes of active banks
at the end of December 1959 and 1960 follows.
30
REPORT OF THE COMPTROLLER OF THE CURRENCY
Assess and liabilities of all banks in the United States and possessions, 1959 and 1960
[In millions of dollars]
Dec. 31,
1960
Dec. 31,
1959
Change since
1959
13,971
13,984
-13
55,741
53,137
+2,604
971
7,131
825
7,132
+146
-1
5,127
4,877
+250
687
5,003
200
4,830
+487
+173
43,463
26, 781
2,941
40,490
24, 509
2,812
+2,973
+2,272
+129
Total gross loans
Less valuation reserves
147,845
2, 590
138,812
2,402
+9,033
+188
Net loans
145,255
136,410
+8,845
67,343
18.281
6,937
1,456
65,882
17,715
7,015
1,401
+1,461
+566
-78
+55
94,017
92,013
+2,004
3,513
3,170
+343
49,592
3.108
99
47,192
2,884
83
+2.400
+224
+16
305
1,428
1,616
218
776
1,612
+87
+652
+4
298,933
284,358
+14,575
117,370
103,384
6,242
16,370
18,899
4,620
116,460
97,883
5,372
14, 749
17,104
3,929
+910
+5,501
+870
+1,621
+ 1 , 795
+691
Total deposits...
266,885
255,497
+11,388
Demand deposits
Time deposits
156,823
110,062
152,652
102,845
+4,171
+7,217
Number of ban Vs.
- - ASSETS
Real estate loans
Loans to financial institutions:
Domestic commercial and foreign banks
Other
Loans to brokers and dealers in securities and other loans for
the purpose of purchasing or carrying securities
Loans to farmers directly guaranteed by the Commodity
Credit Corporation..
Other loans to farmers
Commercial and industrial loans (including open-market
paper).
Other loans to individuals
All other loans (including overdrafts)
U.S. Government obligations, direct and guaranteed—
Obligations of States and political subdivisions
Other bonds, notes, and debentures
Corporate stocks, including stocks of Federal Reserve banks..
Total
securities
_
Currency and coin..
Balances with other banks, including reserve balances, and
cash items in process of collection
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 outstanding
Other assets.
Total assets...
LIABILITIES
Demand deposits of individuals, partnerships, and corporations
Time deposits of individuals, partnerships, and corporations..
U.S. Government and postal savings deposits
Deposits of States and political subdivisions
Deposits of banks
Other deposits (certified and cashiers' checks, etc.)
Bills payable, rediscounts, and other liabilities for borrowed
money
Acceptances executed by or for account of reporting banks and
outstanding
Other liabilities
Total liabilities
CAPITAL ACCOUNTS
Common stock.
Capital notes and debentures
Preferred stock
Surplus
Undivided profits
Reserves and retirement account for preferred stock and capital notes and debentures
—
Total capital accounts.
Total liabilities and capital accounts..
184
649
-465
1,473
5,788
829
4,410
+644
+1,378
274,330
261,385
+12,945
6,284
53
15
12,510
4,896
5,933
56
17
11,760
4,469
+351
-3
-2
+750
+427
845
738
+107
24,603
22,973
+ 1 , 630
298,933
284,358
+14, 575
NOTE.—Figures for nonnational banks obtained from the Federal Deposit Insurance Corporation.
31 REPORT OF THE COMPTROLLER OF THE CURRENCY
REPORTS FROM BANKS
National banks in the continental United States, Hawaii, and the
Virgin Islands of the United States were, in accordance with the
provisions of section 5211 of the Revised Statutes, called upon to
submit four reports of condition during the year ended December 31,
1960. Reports were required as of March 15, June 15, October 3, and
December 31. Summaries from all condition reports, by States, are
published in pamphlet form. National banks were also required by
statute to obtain reports, unless waived by the Comptroller, of their
affiliates and holding company affiliates other than member banks as
of the four dates for which condition reports of the banks were obtained and to submit such reports to the Comptroller.
Under the general powers conferred upon him by law, the Comptroller obtained from each national bank during the period indicated
semiannual reports of earnings, expenses, and dividends; also reports
of condition of foreign branches as of December 31, 1960.
National banking associations authorized to act in a fiduciary
capacity were called upon to submit reports of their trust departments
as of the close of business on December 31, 1960.
In accordance with the code of law for the District of Columbia,
banks other than national in the District were required to make to the
Comptroller condition reports and reports of earnings, expenses, and
dividends identical with those obtained from national banks during
the year.
Detailedfiguresfrom reports of condition and earnings and dividends
will be found in the appendix of this report.
AFFILIATES AND HOLDING COMPANY AFFILIATES OF
NATIONAL BANKS
The Federal statute requires each national bank to obtain and
submit to the Comptroller periodically reports of its affiliates, as
defined in sections 2 (b) and (c) of the Banking Act of 1933, as
amended. However, section 21 of the Federal Reserve Act, as
amended, provides in part that the Comptroller may waive the requirement for the submission of the report of an affiliate if in his judgment
such a report is not necessary to disclose fully the relations between
an affiliate and a bank and the effect thereof upon the affairs of the
bank. Pursuant to this latter section the Comptroller's waiver of
requirement for reports of affiliates provides principally that reports of
affiliates (other than holding company affiliates) need not be submitted
and published in a newspaper unless the affiliate is indebted to the
national bank or the bank owns obligations of the affiliate and the
aggregate of such indebtedness and/or investment is carried as an
asset on the bank's books at a value in excess of $5,000, or 1 percent
of the bank's capital and surplus, whichever is the greater.
32
REPORT OF THE COMPTROLLER OF THE CURRENCY
At the end of December 1960, 433 member national banks in the
United States submitted 490 reports of affiliates. Included in these
figures are 201 banks in 27 States which are members of 23 holding
company groups. The number of banks in each holding company
group varied from 1 to 58. The actual number of reporting affiliates
and holding company affiliates was 312.
In addition there was one nonnational bank in the District of
Columbia which is a member of the Federal Reserve System that
reported one affiliate to the Comptroller pursuant to the provisions of
the code of law for the District of Columbia.
ISSUE AND REDEMPTION OF NOTES
There were 691 shipments of new Federal Reserve notes (647,392,000
notes—aggregate value $7,033 million) made to the Federal Reserve
agents and the Federal Reserve branch banks. In addition, there were
37 deliveries of such notes (8,140,000 notes—aggregate value $154
million) made to the Treasurer of the United States.
There was a total of 4,721 lots of unfit Federal Reserve notes and
Federal Reserve bank notes (519,548,237 notes—aggregate value
$6,143,236,130) received for verification and certification for destruction.
There were 28 lots of national bank notes (80,223 notes—aggregate
value $1,428,682) received for verification and certification for
destruction.
There was a total of 248,744 badly damaged Federal Reserve notes,
Federal Reserve bank notes and national bank notes (aggregate value
$4,710,736) presented by the Treasurer of the United States, for
identification approval.
CONSOLIDATIONS, MERGERS, PURCHASE, AND SALE TRANSACTIONS
SINCE ENACTMENT OF PUBLIC LAW 86-463, MAY 13, 1960
There was enacted on May 13, 1960, Public Law 86-463, an Act
"To amend the Federal Deposit Insurance Act to require Federal
approval for mergers and consolidations of insured banks." This
enactment culminated congressional consideration of bank mergers
and the antitrust laws which began about 1955 and thus was of several
years duration. During this period the Congress gave much consideration to the question of whether section 7 of the Clayton Act should be
made applicable to bank mergers. The legislation as enacted leaves
bank mergers, which are invariably accomplished by asset acquisitions,
not subject to the provisions of section 7 of the Clayton Act. In each
of three separate Congresses, the 84th, the 85th, and the 86th, there
were rejected on the floor of the Senate amendments to pending bank
merger legislation which would have permitted the application of the
standards contained in section 7 of the Clayton Act to bank mergers.
In rejecting the use of Clayton Act standards in connection with bank
mergers, the Congress recognized the impracticability of applying those
standards to an industry which is closely regulated and supervised in
the public interest, and which consists for the most part of local units
the strength and vitality of which are of crucial importance to their
communities.
The basic purposes of the enactment of this legislation were (1) to
make all bank mergers involving insured banks subject to Federal
approval, and (2) to establish standards by which bank mergers were
to be considered by the respective banking agencies and to insure that
adequate consideration would be given in each case to the effect upon
competition.
This legislation left final authority over bank mergers in the banking
agencies but provided for an advisory report from the Attorney General
on the competitive factors involved in each case. It left bank mergers
not subject to the antitrust laws except to whatever extent the courts
may ultimately hold that the Sherman Antitrust Act is applicable.
In view of the importance of this legislation there are included herein
significant portions of the legislative debates on it.
Congressional Record, Volume 106, Part 6, Page 7256 (1960), House
of Representatives
REGULATION
OF B A N K
MERGERS
Mr. SPENCE. Mr. Speaker, I move to suspend the rules and pass
the bill (S. 1062) to amend the Federal Deposit Insurance Act to
provide safeguards against mergers and consolidations of banks which
might lessen competition unduly or tend unduly to create a monopoly
in the field of banking, with an amendment.
The Clerk read as follows:
Be it enacted by the Senate and House of Representatives of the United States of
America in Congress assembled, That subsection (c) of section 18 of the Federal
Deposit Insurance Act is amended by striking out the third sentence and inserting
in lieu thereof the following: " N o insured bank shall merge or consolidate with any
33
34
REPORT OF THE COMPTROLLER OF THE CURRENCY
other insured bank, or either directly or indirectly acquire the assets of, or assume
liability to pay any deposits made in, any other insured bank without the prior
written consent (i) of the Comptroller of the Currency if the acquiring, assuming,
or resulting bank is to be a national bank or a District bank, or (ii) of the Board
of Governors of the Federal Reserve System if the acquring, assuming, or resulting
bank is to be a State member bank (except a District bank), or (iii) of the Corporation if the acquiring, assuming, or resulting bank is to be a nonmember insured
bank (except a District bank). Notice of any proposed merger, consolidation,
acquisition of assets, or assumption of liabilities, in a form approved by the
Comptroller, the Board, or the Corporation, as the case may be, shall (except
in a case where the furnishing of reports under the seventh sentence of this subsection is not required) be published, at appropriate intervals during a period
(prior to the approval or disapproval of the transaction) at least as long as the
period allowed under such a sentence for furnishing such reports, in a newspaper
of general circulation in the community or communities where the main offices of
the banks involved are located (or, if there is no such newspaper in any such
community, then in the newspaper of general circulation published nearest
thereto). In granting or withholding consent under this subsection, the Comptroller, the Board, or the Corporation, as the case may be, shall consider the
financial history and condition of each of the banks involved, the adequacy of its
capital structure, its future earnings prospects, the general character of its management, the convenience and needs of the community to be served, and whether or
not its corporate powers are consistent with the purposes of this Act. In the case
of a merger, consolidation, acquisition of assets, or assumption of liabilities, the
appropriate agency shall also take into consideration the effect of the transaction
on competition (including any tendency toward monopoly), and shall not approve
the transaction unless, after considering all of such factors, it finds the transaction
to be in the public interest. In the interest of uniform standards, before acting
on a merger, consolidation, acquisition of assets, or assumption of liabilities
under this subsection, the agency (unless it finds that it must act immediately in
order to prevent the probable failure of one of the banks involved) shall request a
report on the competitive factors involved from the Attorney General and the
other two banking agencies referred to in this subsection (which report shall be
furnished within thirty calendar days of the date on which it is requested, or
within ten calendar days of such date if the requesting agency advises the Attorney
General and the other two banking agencies that an emergency exists requiring
expeditious action). The Comptroller, the Board, and the Corporation shall each
include in its annual report to the Congress a description of each merger, consolidation, acquisition of assets, or assumption of liabilities approved by it during
the period covered by the report, along with the following information: the name
and total resources of each bank involved; whether a report has been submitted
by the Attorney General hereunder, and, if so, a summary by the Attorney
General of the substance of such report; and a statement by the Comptroller, the
Board, or the Corporation, as the case may be, of the basis for its approval."
The S P E A K E R . I S a second demanded?
The question is, Will the House suspend the rules and pass the bill?
The question was taken; and (two-thirds having voted in favor
thereof) the rules were suspended and the bill was passed.
A motion to reconsider was laid on the table.
Mr. SPENCE. Mr. Speaker, I ask unanimous consent that all
Members may have 5 legislative days in which to extend their remarks
in the R E C O R D on both bills which have just been passed.
The S P E A K E R . I S there objection to the request of the gentleman
from Kentucky?
There was no objection.
Mr. SPENCE. Mr. Speaker, there is a recognized need for better
Federal laws to regulate bank mergers. Bank mergers have been
taking place at a rapid rate in recent years. During the past 10
years, there have been 150 bank mergers a year on the average. And
these mergers have involved our biggest banks. For example, if
vou look at the list of the lar^pst, hanks in tho, mnntrv torJav von will
35
REPORT OF THE COMPTROLLER OF THE
CURRENCY
see the second, third, fourth, and fifth top spots occupied by banks
which owe their tremendous influence in large measure to absorptions
of other banks by mergers.
The need for a better bank merger law has been recognized by both
the President and the Congress. Both Houses of Congress passed
bills on the subject in 1956, but their differences were not reconciled
and so no legislation went to the White House. The Senate passed
a bank merger bill again in 1957 but the House did not act. This
bill, of course, passed the Senate last year.
The present Federal banking laws on this subject have several
serious defects when it comes to controlling bank mergers. Many
mergers can take place without approval of any Federal bank supervisory agency. Even where the Federal banking laws require such
approval as a condition of a merger, they do not provide for uniform
standards and in no case is the effect on competition even mentioned.
The Federal antitrust laws also offer little help in controlling bank mergers. The Clayton Act is ineffective as to bank mergers because in the
case of banks it covers only stock acquisitions and bank mergers are
not accomplished that way. The Sherman Act has been invoked only
once in court to stop a bank merger, and that case is still pending.
So I think you will agree there is a real need for this type of
legislation.
The bill the committee has reported meets this recognized need by
giving the Federal bank supervisory agencies control over all bank
mergers resulting in banks that are federally insured. All such
mergers would be judged by a uniform set of standards. The bill
spells out seven factors the supervisory agencies are to consider.
Six of these are banking factors, covering such matters as the prospects
of the banks involved and the needs of the community, and the
seventh factor is "the effect of the transaction on competition—including any tendency toward monopoly." After considering all these
factors, the agency must find the merger would be in the public
interest before approval may be given.
This puts control in the banking agencies, which have expert
knowledge of the problems involved. At the same time, they will
be required to get a report from the Attorney General, whose experience in the antitrust field qualifies him to furnish valuable advice in
the administration of the bill.
This bill was reported out of the Banking and Currency Committee
without a dissenting vote, and I urge you to vote for it in the hope
it can be sent to the President without further delay.
[Mr. KILBURN'S remarks will appear hereafter in the Appendix.]
Mr. B R O W N of Georgia. Mr. Speaker, I am happy to recommend
this bill to the House. It is a compromise bill, which I believe offers
a sound solution to difficult problems that have proved a stumbling
block to legislation in this field in recent years. Members of the
House will recall that a bill to regulate bank mergers passed the House
in 1956. Different bank merger bills passed the Senate in 1956,
1957, and 1959. The President has also urged Congress to enact
legislation in this field. Until today, however, there has been considerable argument as to what form this legislation should take.
I am privileged to serve as chairman of the subcommittee of the Banking and Currency Committee which undertook the task of reconciling
36
REPORT OF THE
COMPTROLLER OF THE
CURRENCY
these differences, and I am pleased to report that we had splendid
cooperation from the chairman of the House Judiciary Committee,
Hon. EMANUEL CELLER, as well as from the Federal bank supervisory
agencies and the Department of Justice in working out the bill we
have recommended to you. This bill was reported unanimously to
the House by the Banking and Currency Committee.
As Chairman SPENCE has explained to you, the bill provides that
no merger which is to result in a bank insured by the Federal Deposit
Insurance Corporation may take place unless it has been approved
by one of the Federal bank supervisory agencies—the Comptroller
of the Currency for national banks, the Federal Reserve Board for
State member banks, and the Federal Deposit Insurance Corporation
for insured nonmember banks. This puts the responsibility for
acting on a proposed merger where it belongs—in the agency charged
with supervising and examining the bank which will result from the
merger. Out of their years of experience in supervising banks, our
Federal banking agencies have developed specialized knowledge of
banking and the people who engage in it. They are experts at judging
the condition of the banks involved, their prospects, their management, and the needs of the community for banking services. They
should have primary responsibility in deciding whether a proposed
merger would be in the public interest.
The bill specifies six banking factors to be considered in acting on a
proposed merger: That is, it requires the banking agency to take
into consideration, for each of the banks involved, the financial
history, the adequacy of its capital structure, its future earnings
prospects, the general character of its management, the convenience
and needs of the community to be served, and whether or not its
corporate powers are consistent with the purposes of the Federal
Deposit Insurance Act. In addition to these six banking factors,
the bill requires the agency to take into consideration the effect of
the proposed transaction on competition—including any tendency
toward monopoly. The agency will not approve the transaction
unless, after weighing all these factors, it concludes that the proposed
merger will be in the public interest.
In determining whether a merger is in the public interest, the
banking agency will consider the several factors listed in the bill;
after weighing them, the agency will determine whether the net
balance is favorable or unfavorable, and will approve the merger only
if the merger is in the public interest in the sense that this balance is
favorable.
We want to be sure that the three different banking agencies are
all using the same standards in passing on mergers; so the bill requires the agency handling the application to request reports from
the other two banking agencies as to the competition factors involved
before it approves or disapproves the merger. Also, the bill provides
for a similar report from the Attorney General, so that the banking
agencies will have the benefit of the long experience of the Antitrust
Division in protecting competition in business generally. Normally,
the other banking agencies and the Attorney General will have 30
days in which to submit their advisory reports. In emergencies, however, this may be shortened to 10 days. In an extreme emergency—
that is, where immediate action is needed to save a failing bank—
37
REPORT OF THE COMPTROLLER OF THE CURRENCY
consultation will not be required. While this may seem a somewhat
cumbersome procedure, I feel it can work smoothly with proper cooperation among the agencies concerned and the results will be
worth it.
There is general agreement that stronger, clearer, more uniform
controls over bank mergers are needed. This bill will meet this need,
in a way that assures a balanced consideration of the total effects of
a merger, with appropriate consultation among all interested agencies. In this way, we can expect that bank mergers which will be
beneficial will be approved, and those which will not will be stopped.
I urge the House to approve this bill.
Mr. CELLER. Mr. Speaker, I urge enactment of S. 1062 which
would provide additional and vitally needed safeguards against bank
mergers and consolidations which might lessen competition or tend
to monopoly in the field of banking. This measure is, in my considered judgment, the minimum necessary to maintain a sound,
vigorously competitive unit banking system in this country and to
arrest a merger trend which is contributing substantially to the control of the Nation's banking business by fewer and larger financial
institutions.
Our Antitrust Subcommittee, a few years ago, made a lengthy
study and report which demonstrated dramatically the extent of concentration in banking that has been taking place in recent years,
largely because of unfettered merger activity and inadequate Federal
legislation. Our subcommittee study showed that while there were
approximately 13,500 commercial banks in this country, the 100
largest controlled approximately 46 percent of the Nation's total bank
assets, and more than 48 percent of the bank deposits. It showed
that in 10 of the Nation's 16 leading financial centers, 4 banks owned
more than 80 percent of all commercial assets; that in 9 of these
financial centers, 2 banks owned more than 60 percent of all commercial bank assets; and that in each of the 16 leading financial centers, the first 2 banks owned more than 40 percent of all the commercial assets, the first 4 banks, 60 percent.
Such concentration is contrary to the fundamental premise that
the banking system of the United States should rely for its vitality
on vigorous competition by a multitude of independent banks, locally
organized, locally financed, and locally managed. For unlike other
countries, such as Great Britain, France, and Germany, where a few
mammoth institutions control nearly all the banking facilities, the
American system is based on competition as one of the strongest
factors safeguarding a sound banking system.
A corollary matter of serious concern resulting from merger activity is the gradual decline in the total number of banks in the
Nation. The fact is that the banking population of our country is
at a 38-year low despite the postwar boom, despite the 286-percent
growth in bank assets, despite the new high level of loans and deposits, despite the greatly increased use made of banking services,
and despite the enormous growth in the number of depositors. As a
consequence of this diminution of banks through mergers, competition among banking institutions has been lessened in communities
through the Nation. Over 76 counties in the United States have no
commercial banking facilities whatsoever; hundreds of small Ameri-
38
REPORT OF THE COMPTROLLER OF THE
CURRENCY
can communities have become bankless towns; and many others are
served by only one bank in place of the two or three which existed
in the 1920's.
In these circumstances, I think that the bill, provided it is properly
administered, constitutes a significant step forward. True, it does not
contain all the safeguards that I believe necessary to cope with the
rash of bank mergers that have beset the Nation. For example, it
would, in my opinion, have been preferable to have made provision
for a hearing on the record and the right of court review, together
with adoption of the competitive test contained in section 7 of the
Clayton Act with specific exceptions for cases involving probable
failures, management problems, inadequate capital or unsound assets,
or overbanked communities.
But this should not obscure the fact that the bill represents a real
achievement, due in large part to amendments added by the House
and Senate Banking and Currency Committees, and by the Senate.
Thus the bill has been materially strengthened by an amendment
making mandatory agency consultation with the Attorney General
on competitive factors and requiring the Attorney General to submit
a report to the agency on such factors. In proposing such an amendment before the Senate Banking Committee, I testified that "it
would be little short of folly to require the appropriate Federal bank
supervisory agency to obtain the views of the other two banking
agencies (with respect to competitive considerations), but not impose
the same requirement in respect to seeking the informed advice of the
Department of Justice—the agency specifically charged by Congress
with responsibility for examining into competitive implications of proposed mergers." Pursuant to the amendment, it is clear, of course,
that at the time of the request made to the Attorney General, the
Federal banking agencies will make available to the Department of
Justice all information in their possession which would be relevant to
the Attorney General's determination of the competitive aspects of
the merger. Such cooperation, it must be stressed, is essential to the
prompt and complete performance of the responsibilities given to the
Attorney General under the terms of the amendment.
The bill was also strengthened through adoption by the House
Banking and Currency Committee of an amendment establishing as
the competitive test "the effect on competition—including any tendency toward monopoly/' This amendment alters the test contained
in the Senate bill, namely, whether the merger "may lessen competition
unduly or tend unduly to create a monopoly.'' As I testified, adoption of such a grotesque standard as "unduly" would mean that it
"is the policy of Congress that a bank merger which tends to monopoly
is in the public interest; that only if it tends unduly to monopoly
should it be banned." That test, I emphasized, would do little, if
anything, to insure competitive enterprise in banking.
Parenthetically, it may be pointed out that in construing the term
"any tendency toward monopoly" specified by the House committee
amendment, such cases as United States v. DuPont (353 U.S. 586, 592,
593), and Transamerica Corp. v. Board of Governors (206 Fed. 2d, 163,
169), will serve as a most useful guide.
^Further amendments to the bUl requiring annual reports to the
Congress and publication iia § newspaper of notice of proposed mergers,
39
REPORT OF THE COMPTROLLER OF THE
CURRENCY
are salutary in the public interest. They are salutary because they
will enable the Congress and the public to be informed of bank merger
activity. And most important, they will enable the appropriate congressional committees to exercise close and continuing scrutiny of the
manner in which the banking agencies administer the competitive
standards contained in the bill. Such scrutiny is of the utmost importance. For unless the banking agencies prohibit those mergers
which have an anticompetitive effect as intended by this measure,
there is the very real possibility indeed that our Nation's banking
system will—and in short order—become dominated to a far greater
extent than now by a handful of financial interests.
Mr. M U L T E R . Mr. Speaker, for many years Congress has been concerned with providing proper safeguards against mergers and consolidations of banks which tended to lessen competition or tended to
create monopolies in banking.
The enactment of the present bill before the House is another step
in improving the legislation on the subject.
The Sherman Antitrust Act and the Clayton Act apply in this field.
But not to every phase of it and not as effectively as is desired. This
bill in no way limits the Sherman Antitrust Act or the Clayton Act
nor will its enactment in any way affect any pending actions or
prosecutions under existing statutes.
The bill provides for control of all mergers by banks whose deposits
are federally insured. In using the word "merger" I use it in its
most all-inclusive sense because under the terms of the bill it will
apply to mergers and consolidations and acquisitions of assets, no
matter how accomplished.
The enactment of the bill will prohibit future mergers unless approved by the appropriate Federal banking agency. If the resulting
bank is to be a national bank, the Comptroller of the Currency
must approve; if a State bank which is a member of the Federal
Reserve System, the Federal Reserve Board must approve; and if it
is an insured State bank that is not a member of the Federal Reserve
System, the Federal Deposit Insurance Corporation must approve.
In every case the approving agency must, in advance of approval,
request a report from the Attorney General of the United States as
to the competitive factors involved, except in such instances where
immediate action is needed because of the emergencies that occasionally confront the supervisory agencies in dealing with banks. The
Attorney General's report is advisory. In addition, each of the
other supervisory agencies must be consulted by the agency charged
with considering the application in order to standardize the practice
in dealing with such applications.
Much controversy arose during the course of the hearings on this
bill in both Houses of Congress with reference to the extent that the
competitive and monopolistic factors should be considered as determinative of these applications. All concerned agreed that all of
the banking factors must be considered. There also seemed to be no
disagreement that the competitive and monopolistic factors should
also be considered. Under the Sherman Antitrust Act and under
the Clayton Act the sole tests revolve around the lessening of competition and the creation of monopolies.
40
REPORT OF THE COMPTROLLER OF THE CURRENCY
The language of S. 1062 as amended by the House Banking and
Currency Committee and as it appears in the bill we are now about
to pass in the House makes it clear that the competitive and monopolistic factors are to be considered along with the banking factors
and that after considering all of the factors involved, if the resulting
institution will be in the public interest, then the application should
be approved and otherwise disapproved.
The banking agencies are thus free to approve a merger to save a
failing bank, or to approve a merger brought about by emergent
conditions even though such action necessarily lessens competition
or creates a monopoly in the particular community involved.
Like most legislation of this type, it depends for its implementation
upon the agencies of government paying heed to the intent of the
Congress. If this legislation does not have the desired and desirable
effect of calling a halt to the rash of bank mergers that we have
witnessed in this country over the last several years, with the undesirable effect of constantly reducing the number of banks which are
serving the public and increasing to inordinate size the big banks of
the country at the expense of the small and independent banks, then
much more restrictive legislation will be called for.
Under no circumstances is the enactment of this bill to be taken
as an indication that the Congress acquiesces in any of the bank
mergers and consolidations that have heretofore occurred.
Congressional Record, Volume 106, Part 8, Page 9711 (1960), Senate
A M E N D M E N T OF F E D E R A L D E P O S I T I N S U R A N C E A C T T o
PROVIDE
SAFEGUARDS A G A I N S T M E R G E R S AND CONSOLIDATIONS OF B A N K S
Mr. JOHNSON of Texas. Mr. President, for the information of all
Senators, I believe the distinguished Senator from Arkansas [Mr.
F U L B R I G H T ] , former chairman of the Committee on Banking and
Currency, in the absence of the Senator from Virginia [Mr. R O B E R T SON], who is absent because of a death in his family, is prepared to
make a motion in connection with the bank merger bill.
I do not believe it will take very long. It is not controversial.
However, I ask unanimous consent that the Senator from Arkansas
may make the motion at this time, and that there be not to exceed
5 minutes debate, pro and con.
The P R E S I D I N G O F F I C E R (Mr. B Y R D of West Virginia in the chair).
Is there objection? The Chair hears none, and it is so ordered.
Mr. F U L B R I G H T . Mr. President, I ask that the Chair lay before
the Senate a message from the House on the bill S. 1062 with the
amendment of the House thereto.
The P R E S I D I N G O F F I C E R laid before the Senate the amendments of
the House of Representatives to the bill (S. 1062) to amend the
Federal Deposit Insurance Act to provide safeguards against mergers
and consolidations of banks which might lessen competition unduly
or tend unduly to create a monopoly in the field of banking, which
were, to strike out all after the enacting clause and insert:
That subsection (c) of section 18 of the Federal Deposit Insurance Act is
amended by striking out the third sentence and inserting in lieu thereof the following: " N o insured bank shall merge or consolidate with any other insured bank
41
REPORT OF THE COMPTROLLER OF THE CURRENCY
or, either directly or indirectly, acquire the assets of, or assume liability to pay
any deposits made in, any other insured bank without the prior written consent
(i) of the Comptroller of the Currency if the acquiring, assuming, or resulting
bank is to be a national bank or a District bank, or (ii) of the Board of Governors of the Federal Reserve System if the acquiring, assuming, or resulting
bank is to be a State member bank (except a District bank), or (iii) of the Corporation if the acquiring, assuming, or resulting bank is to be a nonmember insured
bank (except a District bank). Notice of any proposed merger, consolidation,
acquisition of assets, or assumption of liabilities, in a form approved by the
Comptroller, the Board, or the Corporation, as the case may be, shall (except
in a case where the furnishing of reports under the seventh sentence of this subsection is not required) be published, at appropriate intervals during a period
(prior to the approval or disapproval of the transaction) at least as long as the
period allowed under such sentence for furnishing such reports, in a newspaper of
general circulation in the community or communities where the main offices
of the banks involved are located (or, if there is no such newspaper in any such
community, then in the newspaper of general circulation published nearest thereto).
In granting or withholding consent under this subsection, the Comptroller, the
Board, or the Corporation, as the case may be, shall consider the financial history
and condition of each of the banks involved, the adequacy of its capital structure,
its future earnings prospects, the general character of its management, the convenience and needs of the community to be served, and whether or not its corporate
powers are consistent with the purposes of this Act. In the case of a merger,
consolidation, acquisition of assets, or assumption of liabilities, the appropriate
agency shall also take into consideration the effect of the transaction on competition
(including any tendency toward monopoly), and shall not approve the transaction unless, after considering all of such factors, it finds the transaction to be in
the public interest. In the interests of uniform standards, before acting on a
merger, consolidation, acquisition of assets, or assumption of liabilities under
this subsection, the agency (unless it finds that it must act immediately in order
to prevent the probable failure of one of the banks involved) shall request a report
on the competitive factors involved from the Attorney General and the other two
banking agencies referred to in this subsection (which report shall be furnished
within thirty calendar days of the date on which it is requested, or within ten
calendar days of such date if the requesting agency advises the Attorney General
and the other two banking agencies that an emergency exists requiring expeditious
action). The Comptroller, the Board, and the Corporation shall each include in
its annual report to the Congress a description of each merger, consolidation,
acquisition of assets, or assumption of liabilities approved by it during the period
covered by the report, along with the following information: the name and total
resources of each bank involved; whether a report has been submitted by the
Attorney General hereunder, and, if so, a summary by the Attorney General of
the substance of such report; and a statement by the Comptroller, the Board, or
the Corporation, as the case may be, of the basis for its approval.
And to amend the title so as to read: "An Act to amend the Federal
Deposit Insurance Act to require Federal approval for mergers and
consolidations of insured banks."
Mr. FULBRIGHT. Mr. President, I move that the Senate concur in
the amendment of the House.
Senate bill 1062 was introduced on February 16, 1959. It was
sponsored by the Senator from Virginia [Mr. ROBERTSON], the Senator
from Indiana [Mr. C A P E H A R T ] and myself. S. 1062 was based on
bills which had previously passed the Senate, S. 3911, 84th Congress,
in 1956, and section 23 of title III of the financial institutions bill,
S. 1451, 85th Congress, in 1957.
The Banking and Currency Committee held hearings on S.1062.
The committee considered the bill thoroughly and amended it to
require reports from the Attorney General on prospective mergers.
The Senate debated the bill thoroughly and amended it to require
semiannual reports to Congress on approved mergers.
42
REPORT OF THE COMPTROLLER OF THE
CURRENCY
The House Banking and Currency Committee held hearings and
made a number of additional amendments, which I will discuss later.
The bill, as amended by the House committee, passed the House on
April 4, 1960.
Since the bill has already been thoroughly considered by the Senate,
it is not necessary to discuss at length the reasons for the bill—the
great number of mergers which have recently been taking place and
the vast resources involved in these mergers; and the fact that many
bank mergers are subject to virtually no control, and even those which
are subject to control are not covered by clear standards with respect to
competitive factors.
On previous occasions when the Senate has considered bank merger
bills, the principal issue has been whether bank mergers should be
regulated by the Federal bank supervisory agencies—the Comptroller
of the Currency in the case of national banks, the Board of Governors
of the Federal Reserve System in the case of State member banks,
and the FDIC in the case of insured nonmember banks—on the basis
of banking factors and competitive factors, like other regulated
industries; or whether bank merger should be subject to the antimerger
provisions of section 7 of the Clayton Act, like ordinary nonregulated
industrial or commercial enterprises.
As it passed the Senate, S. 1062 expressed the view of the Senate,
for the third time, that bank mergers should be regulated by the
Federal banking agencies on the basis of banking factors and competitive factors, with no single factor being in itself controlling.
S. 1062 was a clear statement, for the third time, of the Senate's
view that the provisions of section 7 of the Clayton Act should not
apply to bank mergers.
The amendments to S. 1062 made by the House do not change this
aspect of the bill. The House has agreed with the Senate that bank
mergers should be controlled by the Federal banking agencies on the
basis of both banking factors and competitive factors, and that section
7 of the Clayton Act should continue to be inapplicable to bank
mergers.
Banking is regulated and subject to many controls not applicable
to the ordinary industrial or commercial enterprise; entry into the
field of banking is restricted; the establishment of branches is restricted; and the practices and procedures of banking, from the payment of interest on deposits to the kinds of loans made and the
reserves which must be maintained, are closely regulated and controlled. Competition in banking is desirable and beneficial; but
unrestricted competition in banking, with the bank failures which
would result, is no more possible than it is in the field of public
utilities or other industries affected to a greater or lesser extent with the
public interest. Banking is too important to depositors, to borrowers,
to the Government, and the public generally, to permit unregulated
and unrestricted competition in that field.
The antitrust laws have reflected an awareness of the difference
between banking and other regulated industries on the one hand, and
ordinary unregulated industries and commercial enterprises on the
other hand. The 1950 amendment to section 7 of the Clayton Act,
which for the first time imposed controls over mergers by means
other than stock acquisitions, did not apply to bank mergers which
43
REPORT OF THE COMPTROLLER OF THE CURRENCY
are practically invariably accomplished by means other than stock
acquisition. Accordingly for all practical purposes bank mergers have
been and still are exempt from section 7 of the Clayton Act.
It is not clear whether the Sherman Antitrust Act of 1890 would
now be held to apply to banking in general and to bank mergers in
particular, though it seems clear that Senator John Sherman, the
former Secretary of the Treasury, for whom the act was named, and
the 51st Congress, did not expect or intend banking to be covered by
an act applicable to interstate commerce. And even if the Sherman
Act is held to apply to banking and to bank mergers, it seems clear
that under the rule of reason spelled out in the Standard Oil case,
different considerations will be found applicable, in a regulated field
like banking, in determining whether activities would "unduly diminish competition," in the Supreme Court in that case.
I should like to explain the amendments made by the House in
more detail.
The House committee bill, which was passed by the House under
suspension of rules on April 4, is a complete substitute for S. 1062.
Both bills require the appropriate banking agency to consider the
six banking factors set forth in the Federal Deposit Insurance Act.
These are: First, the financial history and condition of each of the
banks involved; second, the adequacy of its capital structure; third,
its earnings prospects; fourth, the general character of its management ; fifth, the convenience and needs of the community to be served;
and sixth, whether the bank's corporate powers are consistent with
the purposes of the Federal Deposit Insurance Act. S. 1062 incorporated these factors by reference; the House amendment lists them.
S. 1062, as passed by the Senate, added a seventh factor to be
considered: whether the transaction would "unduly lessen competition
or tend unduly to create a monopoly." The House bill substitutes
for this the requirement that "the appropriate agency shall also take
into consideration the effect of the transaction on competition—
including any tendency toward monopoly."
The House amendment goes on to provide that the merger "shall
not" be approved unless, "after considering all such factors, it—the
agency—finds the transaction to be in the public interest."
The House amendment, like the Senate version of S. 1062, makes
it clear that the banking factors and the competitive factors must
be considered by the banking agencies. The House amendment, like
the Senate version of S. 1062, makes it clear that no one of these
factors is controlling. In any given merger, competitive factors unfavorable to the merger may be outweighed by banking factors
favorable to the merger, and competitive factors favorable to the
merger may outweigh banking factors unfavorable to the merger.
All of these seven factors must be considered and weighed together,
and the merger should be approved only if, after consideration of all
of these factors, the net result is in favor of the proposal.
This balancing of favorable and unfavorable banking factors along
with favorable and unfavorable competitive factors, with no one of
them being overlooked and no one of them being controlling, was
just what was meant by the Senate when it used the word "unduly"
in referring to the competitive factors. I am satisfied that the House
has reached just the same result the Senate reached three times before.
44
REPORT OF THE COMPTROLLER OF THE CURRENCY
This is made clear at pages 11 and 12 of the House report, where
it is stated that:
Your committee is convinced the Senate's approach is basically sound. Where
demonstrable benefits would flow from a proposed merger, these should be weighed
against any adverse effect on competition. Your committee feels, however, that
the language of the Senate bill can be improved, to insure that the intent indicated in the legislative history of the bill in the Senate will be properly carried
out. Your committee concurs with the Senate committee report's repeatedly
expressed intent to allow approval of bank mergers that would be in the public
interest.
After all the factors have been weighed, the transaction should be approved
only if the supervisory agency is satisfied that, on balance, its effect will be
beneficial.
This understanding was also expressed by Representative B R O W N ,
chairman of the subcommittee which handled the bill, in presenting
the bill to the House at page 6682 of the daily C O N G R E S S I O N A L R E C ORD. Representative B R O W N said:
In determining whether a merger is in the public interest, the banking agency
will consider the several factors listed in the bill; after weighing them, the agency
will determine whether the net balance is favorable or unfavorable, and will approve the merger only if the merger is in the public interest in the sense that this
balance is favorable.
The P R E S I D I N G OFFICER. The time of the Senator from Arkansas
has expired.
Mr. F U L B R I G H T . Mr. President, I ask that I may have 3 additional
minutes.
Mr. J O H N S O N of Texas. Mr. President, I yield 3 minutes to the
Senator from Arkansas.
Mr. F U L B R I G H T . I was quoting from Representative B R O W N ' S explanation of the purpose and meaning of the phrase "in the public
interest."
The phrase "in the public interest" as used in S. 1062 is not independent; it is not isolated. The phrase is specifically and clearly tied
in with the banking and competitive factors which are specifically
listed in the bill. The language of the bill is entirely clear on this
point:
The agency shall not approve the transaction unless, after considering all of
such factors, it finds the transaction to be in the public interest.
This distinguishes the phrase "in the public interest," as here used,
from comparable phrases in other statutes where the phrase, "consistent with the public interest," is used as a general standard without
reference to specific factors.
The phrase, "in the public interest," is not a new standard itself.
It is not an eighth factor. It does not call for a separate finding that a
proposed merger is "in the public interest," aside from the banking
factors and competitive factors which must be considered. The
phrase is used only to indicate that if the merger is to be approved, the
weighing of the seven specified factors must have resulted in a finding
favorable to a merger.
The requirement that a favorable finding must be made if the merger
is to be approved means only that a beneficial result must appear after
the weighing of the seven specific factors set forth in the bill. It does
not require the agency to go beyond these seven factors and find an
independent and separate public interest in the merger.
REPORT OF THE COMPTROLLER OF THE CURRENCY
45
The requirement of a favorable finding after weighing the seven
factors does not seem out of place in this legislation. A favorable
finding would have to be made, for example, in other cases which the
banking agencies must consider, such as the chartering of a new bank.
It is this distinction between banking and other businesses which
justifies different treatment for bank mergers and other mergers. It
was this distinction that led the Senate to reject the flat prohibition
of the Clayton Act test which applies to other mergers.
Furthermore, with respect to the requirement of a favorable finding,
it is clear this question remains entirely within the determination of
the Federal banking agency passing upon the merger, to be based upon
its weighing of the six "banking" factors and the "competitive"
factor.
The Senate version of S. 1062 required the banking agency considering a merger to obtain a report from the Attorney General on the
competitive factors involved in the merger. This report was required
in order that the Attorney General's knowledge and background of
experience in the field of anticompetitive and monopolistic matters
should be made available to the banking agencies in their consideration of bank mergers. At the same time, it was made clear that the
Attorney General's report on competitive factors was limited to this
one aspect of the proposed merger. The Attorney General was not
expected to consider or report on the various banking factors involved, nor was he expected to make any recommendation as to the
action the banking agencies should take on the basis of consideration
of all of the factors involved. Under these circumstances, while cooperation is, of course, expected between the banking agencies and the
Justice Department, it is not intended that this provision should give
the Justice Department free entry to the files of the banking agencies.
It is not intended that the Justice Department would have any occasion to examine the banking agencies' files relating to the banking
factors under consideration, and in particular, it is expected that the
banking agencies will continue to give the bank examiners' reports
the same confidential treatment which the Department of Justice
gives to FBI reports.
The House made several amendments to the bill with respect to the
mechanics of consultation among the banking agencies. The procedure for obtaining the views of the other two banking agencies, by the
banking agency which has final responsibility, is made to conform with
the procedure for obtaining a report from the Attorney General.
Under the House bill, the supervisory agency having jurisdiction can
act to save a failing bank without seeking the views of the other banking agencies; and the other banking agencies are required to submit
their views within 30 days, or within 10 days if an emergency exists.
The House amendment also provides that the reports of the other
banking agencies shall be requested only on the competitive factors,
rather than on all factors to be considered, including the banking
factors.
The Senate bill required semiannual reports of the bank supervisory agencies; the House amendment provides instead for including
this information in the agencies' annual reports. The Senate bill
provided for a summary by the banking agencies of the Attorney
598026—161—4
46
REPORT OF THE COMPTROLLER OF THE CURRENCY
General's reports; the House amendment makes it clear that the
summary should be prepared by the Attorney General.
An entirely new provision in the House amendment is a requirement that notice of a proposed merger be published in a newspaper
of general circulation in the community or communities where the
main offices of the banks involved are located. In the normal case,
the notice must be published at least 30 days before the banking
agency approves or disapproves the merger, with exceptions for
emergency situations. A similar requirement now exists for national
bank mergers and for bank holding company acquisitions.
I have consulted with members of the Senate Committee on Banking and Currency who would be conferees if the bill were to be sent
to conference, and we are agreed that the Senate should agree to the
House amendments.
I should add that I believe this bill, providing for effective regulation of bank mergers for the first time, is a significant accomplishment.
We have tried for a long time to enact sound legislation on this subject and I trust we shall now be successful.
I move that the Senate concur in the House amendments to the
bill, S. 1062.
During the delivery of Senator FTJLBRIGHT'S remarks.
Mr. BENNETT. Mr. President, will the Senator from Arkansas
yield?
Mr. FULBRIGHT. I yield.
Mr. BENNETT. We are now operating under a strict time limitation.
As the Senator from Arkansas knows, the chairman of the committee,
the Senator from Virginia [Mr. ROBERTSON] and I prepared a set of
questions and answers in order to set forth and make clear our understanding of the purpose and effect of the bill.
Mr. FULBRIGHT. Yes. That is correct. The Senator from Virginia [Mr. ROBERTSON] prepared answers to several questions which
the Senator from Utah [Mr. BENNETT] had posed. These answers
represent the views of the Senator from Virginia, who is chairman of
the Committee on Banking and Currency and the Subcommittee on
Banking. Other members of the committee have considered these
questions and answers and they represent, I am satisfied, the committee's understanding of the bill, and the correct understanding of
the bill.
Mr. BENNETT. Mr. President, in order to make clear to the banking agencies, which will administer this act, the understanding and
intention of the Senate in accepting the amendments of the House and
passing the amended bill, I ask unanimous consent that this set of
questions and answers be printed in the RECORD following the statement by the Senator from Arkansas, as though I had asked the questions and the Senator from Arkansas had made the answers.
The PRESIDING OFFICER. Without objection, it is so ordered.
(See exhibit 1.)
EXHIBIT
1.
BANK
MERGER
BILL
Question. As I understand it, this bill is not directed against nor intended to
proscribe or limit size as such, without regard to the banking and competitive
tests set forth in the bill, and hence a merger of two large banks should be approved
if found to be in the public interest under the tests set down in the bill. Suppose
for example, a situation where such a merger would increase the extent, quality,
47
REPORT OF THE COMPTROLLER OF THE CURRENCY
and efficiency of services rendered to the public, enhance local, regional, or national
competition, and meet all the other specific tests in the bill, would not such a
merger be considered to be in the public interest under this bill, regardless of size?
Answer. Yes. The bill is not directed against size as such, nor does it impose
limits on the size of banks. Size may be, or course, an element to be considered
as part of the banking tests and as part of the competitive test under the bill.
But it is not controlling. If a merger of two large banks qualifies under the tests
set forth in the bill, it should be approved and it will be approved, no matter how
big the two banks may be.
Question. The competitive factor in the bill I take to refer, in appropriate
cases, not only to local but also to State, regional, and national competitive
effect. Is this correct?
Answer. Yes. The Federal banking agency reviewing a proposed merger
should consider whatever field of competition the merging banks are engaged in
and the new bank will engage in. Some banks are engaged only in local competition. Other banks are primarily engaged in regional competition. Other banks
engage in national or international competition. The field of competition which
is actually involved is the field which should be given consideration in reviewing
a merger. This is true also of the Justice Department reports on the competitive
factors involved in the merger. These, too, should be concerned with the kinds
of competition the two banks are now engaged in and the kind of competition
the merged bank will be engaged in.
Question. In considering a proposed merger, should the needs of the community and the area and the country as a whole for increased financial services
resulting from an expanding economy be considered?
Answer. Yes. The Federal banking agency reviewing a merger under S. 1062
would certainly give due regard to the adequate accommodation of the growing
capital requirements of an expanding economy in the community, in the area, and
in the country generally. This would not, of course, be the controlling factor any
more than any other single factor and, of course, other means of providing increased financial services would be borne in mind.
But there is no question that the Federal banking agency should give due
regard to the adequate accommodation of the growing capital requirements of
an expanding economy.
Question. In considering a proposed merger, would the responsible Federal
banking agency be able to take into consideration the competition which the
merging banks face, and the merged bank would face, from other kinds of financial institutions—savings and loan associations, credit unions, insurance companies, finance companies, and the like?
Answer. Yes, indeed. All competition which the merging banks now face, and
which the merged bank would face, must be taken into consideration by the banking agency. This includes both competition from other banks and trust companies
and competition from other financial institutions which may provide the same or
similar services. It includes competition for the public's funds, in the form of
deposits, savings accounts, and the like, and it includes competition in supplying
the public's needs for funds in the way of personal loans, consumer credit, mortgages, business loans, and so on.
Question. Mergers already effected have given some banks distinct competitive advantages because of increased lending limits, increased quantity and
quality of services, increased availability of highly specialized and technical
personnel, and increased overall resources. Other banks have not so grown in
size through mergers because of lack of feasible merger opportunities, State laws,
management policy, or other reasons. If the effect of the adoption of this bill is
to discriminate against these latter banks and thereby to affect adversely their
future opportunity to acquire or regain reasonable competitive equality through
merger, then we shall be protecting and making permanent a competitive advantage or, a kind of monopolistic position. It is my understanding that such a
discriminatory result is not intended, and that the competitive test in this bill
should not be so construed. Is that correct?
Answer. S. 1062 is not intended to have any discriminatory results. It is
not intended to discriminate against banks which have been unable to merge in
the past because of State laws or any other reason. The fact that a bank has
been unable to merge in the past, and therefore is at a competitive disadvantage
with other banks, is something which can be and should be taken into consideration by the banking agency reviewing a merger application. The bill is not
48
REPORT OF THE COMPTROLLER OF THE CURRENCY
intended to prevent banks which have not been able to merge from acquiring or
regaining reasonable competitive equality through merger.
Of course, this does not mean that merely because a bank was unable to grow
by merger before the enactment of S. 1062, it would thereby have a right to engage
in a merger which otherwise would be ruled out by the standards of S. 1062.
The standards set forth in S. 1062 are the controlling tests; the competitive
disadvantage which a bank is suffering from because it could not previously
merge is to be considered as just one of the factors entering into these tests.
Mr. JAVITS. Mr. President, will the Senator yield?
Mr. FULBRIGHT. I yield.
Mr. JAVITS. I ask unanimous consent that a letter I have received
from Mr. J. Russell Clark, superintendent of banks of New York, be
printed at this point in the R E C O R D . Mr. Clark raises two questions,
which have been written out for Senator R O B E R T S O N , together with
Senator R O B E R T S O N ' S answers to those questions. If the Senator
from Arkansas agrees—and I understand that he does—I ask unanimous consent that the questions and answers may also be printed
at this point in the R E C O R D .
Mr. FULBRIGHT. That is correct. The Senator from Virginia
[Mr. R O B E R T S O N ] prepared answers to the questions posed by the
Senator from New York [Mr. JAVITS]. In order to make clear to the
banking agencies which will administer this act the understanding and
intention of the Senate in passing this bill, I join in the request of the
Senator from New York [Mr. J A V I T S ] .
There being no objection, the letter and the questions and answers
were ordered to be printed in the RECORD, as follows:
S T A T E OF N E W Y O R K ,
BANKING DEPARTMENT,
New York, N.Y., April 28, 1960.
H o n . JACOB
J. JAVITS,
Committee on Labor and Public Welfare,
U.S. Senate, Washington, D.C.
D E A R S E N A T O R J A V I T S : Reference is made to your letter of April 1 1 , 1 9 6 0 ,
requesting my views and comments on S. 1062, as amended by the House of
Representatives.
I believe the amendments to such bill effected by the House of Representatives
to be most constructive and desirable. The criteria specified under the bill is
quite similar to the criteria that we in New York are required to consider in
approving or disapproving bank mergers, as well as applications to form or to
expand bank holding companies. Moreover, such criteria are similar to those
required to be considered by the Board of Governors of the Federal Reserve
System under the Bank Holding Act of 1956. I personally believe there should
be no substantial difference between the criteria to be considered in approving
or disapproving a merger and those to be considered in approving or disapproving
the formation or expansion of a bank holding company. Consequently, I believe
the criteria now contained in the bill to be vastly superior to the criteria previously specified in the original Senate version.
As I pointed out in a speech which is included in the House report. I have
some doubts as to how the adjective "unduly," as applied to a lessening of competition, in the original Senate version, would be interpreted in those cases where
banking factors did not necessitate approval of a proposed merger. Ultimately,
the courts would have had the responsibility of interpreting the adjective "unduly" in the original Senate version, for the very indefiniteness as to what was
meant by the use of such adjective as contrasted with the "substantial" as
employed in the Clayton Act, would probably have lead to extended litigation.
I firmly believe that the House in deleting the adjective "unduly" has negated
a great deal of needless litigation. In passing, I should like to note that the
title to the act still retains the adjective "unduly" and in view of the new criteria,
I would suggest that the title to the act be changed.
49
REPORT OF THE COMPTROLLER OF THE CURRENCY
I would also like to call your attention to the remarks in my statement in
regard to whether the bill may not place State-chartered banks somewhat at a
disadvantage as compared to national banks, since in the case of State bank
mergers both a State and a Federal supervisory agency are required to approve,
while in the case of national banks, only approval by the Comptroller's Office is
required. On the other hand, I believe the requirement that each of the Federal
agencies consult with the others as to their opinions with respect to competitive
factors would certainly tend to reduce the possibility that the various supervising
agencies will adopt conflicting policies. Perhaps, State banks might be placed in
a more equal position, if it were made clear that the Comptroller could not approve
a merger where the principal consideration was the possible adverse effect upon
competition, if both the F D I C and the Federal Reserve were of the opinion that
the effect on competition would be adverse. Of course, I must admit that as a
practical matter I doubt that the Comptroller would so approve in the face of the
opposition of both the Federal Reserve and the F D I C and, therefore, do not
strongly urge this point.
I would, however, like to call your attention to the House report accompanying
S. 1062, which states that the approval of the merger should depend "on a positive
showing of some benefit to be derived from it * * * the burden should be on the
proponents of a merger to show that it is in the public interest, if it is to be approved * * *." New York State's approach to this same point is that it is
necessary to determine whether the effect on competition is such as to be injurious
to the public interest. In other words, under New York's approach, if all other
factors are equal, approval would be granted unless it can be shown that the
public will be harmed. In the majority of cases, this difference is purely a matter
of semantics, but it can be controlling in a few unique situations. Personally, I
believe that the inference that a proposed merger should be affirmatively in the
public interest creates an unfortunate inference that banks, unlike other segments
of private industry, do not have the right to engage in mergers unless the public
can benefit therefrom, rather than merely having the burden of showing that
there would be no substantial harm to the public through a lessening of competition. In addition, of course, there is the possibility that over the years a
more and more affirmative showing that a particular merger is in the public
interest may be required by the Federal supervisory authorities either as a result
of conviction or public pressure. On the other hand, I think it to be obvious
that a merger is either in or against the public interest. If it is clear that the
burden of proof is to be placed on the applying banks to show that the merger
is in the public interest, I think there could be no reasonable objection to the
intent of the House report. The reason for this is that in my experience the
question of burden of proof is not too important, since it has always been the
individual investigation on the part of the supervisory authorities which has been
controlling and not what the parties allege. Consequently, if it was intended
merely to place the burden of proof on the applying parties, I think there could
be no reasonable objection to this, but I think such intent should be made clear.
With the foregoing qualification, I certainly would recommend enactment
of S. 1062 by the U.S. Congress, as I believe it to be a constructive and desirable
step in achieving uniformity in the approach of bank supervisory authorities
toward mergers.
If I may be of any further assistance in connection with this matter, please
do not hesitate to communicate with me.
Very truly yours,
G . RUSSELL
CLARK.
Question. Mr. Clark inquires whether the bill may place State chartered
banks at a disadvantage as compared with national banks. He thinks such a
disadvantage might arise out of the fact that, in the case of State bank mergers,
both a State and a Federal supervisory agency must approve the merger, while in
the case of national banks only the approval of the Comptroller is necessary.
Mr. Clark recognizes that as a practical matter; the Comptroller probably would
not approve a merger in the face of the opposition of both the Federal Reserve and
the F D I C . Could I have your comments on this point?
Answer. It was to avoid the possibility of discriminatory treatment between
State banks and national banks or between State member banks and State nonmember insured banks that, when one of these agencies is considering a merger, it
is required to get the comments of the other two agencies on the other competitive
50
REPORT OF THE COMPTROLLER OF THE CURRENCY
factors involved. This provides for the maximum of uniformity of treatment
among the three agencies. Certainly we all expect that the consultation and the
cooperation among these three Federal banking agencies will be close and will be
meaningful. I do not, of course, expect that they will agree 100 percent in every
case, but I do expect that they will pay careful attention and give great weight to
the views of the agencies, and I do expect that in most cases there will be no
disagreement between them.
Question. Mr. Clark also raises a question about a case where there is no
positive showing of benefit resulting from the merger, and no positive showing of
detriment. Mr. Clark- points out that under these conditions New York State
would approve a merger. Could I have your comments on this question?
Answer. These cases, where the banking agency in charge just cannot make its
mind up, sound difficult. But I question whether in fact they will really cause
much trouble.
I see that Mr. Clark thinks that in most cases the difference would be purely a
matter of semantics—in most cases, he says, it will be obvious that a merger is
either in the public interest or against the public interest. In most cases, in
other words, the banking agency will be able to make up its mind.
Much of the trouble comes, I think, from misunderstanding and overemphasizing the expression "in the public interest.'' This expression does not mean that
the agencies will have to find a direct and immediate benefit to the public, as Mr.
Clark suggests. On the contrary, all this expression means is that, after considering all the seven factors and giving due weight to each of them, the agency can
approve only if the net result of the seven factors is favorable.
The P R E S I D I N G OFFICER. The time of the Senator from Arkansas has
expired.
Mr. D I R K S E N . Mr. President, I yield 1 minute to the Senator from
Connecticut.
Mr. BUSH. Mr. President, I have talked with the chairman of our
committee, who is not here, and have assured him that I am in full
accord with his conclusion to accept the House bill. The explanation
of the bill given by the Senator from Arkansas [Mr. F U L B R I G H T ] ,
and particularly the questions and answers developed by the Senator
from Virginia [Mr. R O B E R T S O N ] and the Senator from Utah [Mr.
B E N N E T T ] give a clear statement of the purpose of the bill and the
way in which it is to be administered by the banking agencies. I am
glad that we have been assured, by informal conversations with
representatives of the American Bankers Association, the Federal
Reserve Board, and the Federal Deposit Insurance Corporation, that
the House bill is acceptable to those organizations. I understand
the Comptroller of the Currency has a slight reservation concerning
the House amendment, but that this is not held too strongly by him,
and that he is willing to accept the House bill and believes it will
be workable.
I hope the Senate will support the motion of the Senator from
Arkansas.
Mr. D I R K S E N . Mr. President, did the Senator from New York
[Mr. JAVITS] want time?
Mr. J A V I T S . I have concluded my remarks on the subject. I thank
the Senator.
Mr. D I R K S E N . Then, Mr. President, I yield back the remainder of
my time.
Mr. J O H N S O N of Texas. Mr. President, I ask unanimous consent
that a statement by me in connection with the motion of the Senator
from Arkansas be printed at this point in the R E C O R D .
51
REPORT OF THE COMPTROLLER OF THE CURRENCY
There being no objection, the statement was ordered to be printed
in the R E C O R D , as follows:
STATEMENT
BY
SENATOR
JOHNSON
OF
TEXAS
The action of the Senate in approving the House amendments to S. 1062, and
sending the bill on to the President for his approval, is an event which deserves
comment. The Congress, the Senate, the Senate Banking and Currency Committee, its chairman, Senator R O B E R T S O N , and its former chairmen, Senator
F U L B R I G H T , and Senator C A P E H A R T , all should be congratulated and
complimented for this significant piece of legislation.
This bill establishes uniform and clear standards, including both banking and
competitive factors, for the consideration of proposed bank mergers. It eliminates a number of gaps in the statutory framework, which now permit many
bank mergers to occur with no review by any Federal agency. It provides for a
thorough review by the appropriate Federal bank supervisory agency, under
these comprehensive standards, and with the benefit of any information which
may be supplied by the Department of Justice in the report required from them,
of the bank mergers by asset acquisitions and other means which are now and
will continue to be exempt from the antimerger provisions of section 7 of the
Clayton Antitrust Act.
It has been a slow and arduous task to bring this legislation to this present
stage. In the 84th Congress, in 1956, Senator FCJLBIGRHT introduced S. 3911.
This passed the Senate, but it died in the House. In the 85th Congress, in 1957,
Senator R O B E R T S O N introduced a comparable provision as part of his major
financial institutions bill, S. 1451. This passed the Senate, but again the bill
died in the House. S. 1062 was introduced in the 86th Congress, in 1959, by
Senator R O B E R T S O N on behalf of himself and Senators F U L B R I G H T and C A P E H A R T .
This was amended by the Senate Banking and Currency Committee. It was
passed by the Senate with a further amendment on May 14, 1959, almost a year
ago. This time the House did not allow it to die. After holding hearings and
after further amending the bill, the House, on April 4, of this year, finally passed
the Senate bill. And, the Senate has now accepted the House amendments, which
clarify but do not change the substance of the Senate bill.
This long process tries the temper of those who must suffer under it. But in
my judgment, the repeated improvements in S. 1062, in the course of this slow
process, show the real merits, the real benefits of the legislative process at its best.
Again, I want to express my congratulations to Senator R O B E R T S O N and Senator
F U L B R I G H T , and Senator C A P E H A R T and the other members of the Banking and
Currency Committee for the persistence and the thoroughness and the statesmanship which they have displayed in carrying this matter through to a satisfactory conclusion.
The P R E S I D I N G OFFICER. The question is on agreeing to the motion
of the Senator from Arkansas that the Senate concur in the amendment of the House.
The motion was agreed to.
Mr. J O H N S O N of Texas. Mr. President, I move that the Senate
reconsider the vote by which the amendment of the House was
agreed to.
Mr. D I R K S E N . I move to lay that motion on the table.
The motion to lay on the table was agreed to.
Congressional Record, Volume 106, Part 8, Page 9790 (1960) Senate
BANK MERGER LEGISLATION
Mr. ROBERTSON. Mr. President, I ask unanimous consent to have
printed in the R E C O R D at this point a statement in which I commend,
during my unavoidable absence from the Senate last Friday, the
work of the Senator from Arkansas [Mr. FULBRIGHT] and other
members of the Committee on Banking and Currency in calling up
52
REPORT OF THE COMPTROLLER OF THE CURRENCY
and securing concurrence in the action of the House of Representatives
on the bank merger bill, which had been pending before the Senate
on and off for the last 5 years.
There being no objection, the statement was ordered to be printed
in the R E C O R D , as follows:
STATEMENT BY SENATOR ROBERTSON
Last Friday the Senator from Arkansas [Mr. F U L B R I G H T ] was kind enough to
bring up for me S. 1062, the bank merger bill, and the Senate accepted the House
amendments and sent the bill on to the President for his signature.
I appreciate the kindness of the Senator from Arkansas in doing this. I am glad
that he had the opportunity to present this bill to the Senate, because it is a subject
in which he has had great interest, going as far back as 1956, when he introduced
S. 3911.
I should like to make it clear in the R E C O R D that I am in entire accord with the
views expressed by the Senator from Arkansas in urging the Senate to adopt the
House amendments, and I agree entirely with his statement to the Senate of the
effect and meaning of the amended bill. I also want to make it clear that the
answers to the questions posed by the Senators from Utah, Mr. B E N N E T T , and
New York, Mr. J A V I T S , which have been printed in the R E C O R D express my views
in response to those questions. The Senator from Utah, Mr. B E N N E T T , and the
Senator from New York, Mr. J A V I T S , have, through these questions, made a
contribution to the proper understanding of the bill, both in the Senate at the time
of its passage, and in the banking agencies which will be administering the act
when it becomes law.
Other members of the committee, too, especially Senator F R E A R and Senator
BUSH, have been most helpful in connection with this bill, and I should like to
thank them also.
I appreciate particularly the kind words of the majority leader in connection
with the passage of S. 1062. He did not underestimate the delays and difficulties
which this legislation has met, and I am glad that he is able to take satisfaction in
the final passage of the bill.
Description of Each Consolidation, Merger and Purchase and Sale
Transaction Approved by the Comptroller of the Currency, May 13Dec. 31, 1960
Banking offices
Name of bank and type of transaction
Total assets
In operation
No. 1—The Atlantic Highlands National Bank, Atlantic
Highlands, N.J. (4119), with
and the Monmouth County National Bank, Red Bank,
N.J. (2257), which had
_
consolidated June 24, 1960, under charter and title of the
latter bank (2257). The consolidated bank at date of
consolidation had
$8,493,098
1
43,045,118
5
51, 538,216
To be
operated
6
Summary of Report by Attorney General
It is not clear from the application papers submitted what the
precise area serviced by Atlantic Highlands National is, nor do we
know the degree to which Monmouth County National may be competing in that area. Inasmuch as the two banks are only 6 miles
distant from each other, it is assumed that they are to some extent
in competition and that the proposed consolidation will eliminate that
competition.
53 REPORT OF THE COMPTROLLER OF THE CURRENCY
Basis for Comptroller's Approval
Prior to the enactment of Public Law 86-463 on May 13, 1960, the
Comptroller of the Currency had considered this proposed consolidation, and had concluded that it should be approved. Reconsideration
of the consolidation under the provisions of Public Law 86-463 led
to no change in the conclusion that it would be in the public interest.
Atlantic Highlands, N.J. has a population of 3,100 and the Atlantic
Highlands National Bank was the only bank in the town. It is
approximately 6 miles north of Red Bank, situated on Raritan Bay
and separated from Red Bank by the Navesink River. Therefore,
the merging banks did not compete with each other for business in
their respective areas to any important degree.
The banking factors involved in the consolidation were favorable.
The continuing organization with enlarged resources will be able to
provide broader commerical and trust services to the Atlantic Highlands Community and greater management depth and a better
capital cushion than could the Atlantic Highlands National Bank.
Description of Each Consolidation, Merger andfPurchase and Sale
Transaction Approved by the Comptroller of the Currency, May 13Dec. 31, 1960—Continued
Banking offices
Name of bank and type of transaction
No. 2—Maryland Trust Company, Baltimore, Md., with
and Fidelity-Baltimore National Bank, Baltimore, Md.
(13745), which had
consolidated June 24,1969, under charter of the latter bank
(13745), and title "Baltimore National Bank." The consolidated bank at date of consolidation had
Total assets
In operation
$111,513,073
9
320,848,687
26
431,140,147
To be
operated
35
Summary of Report by Attorney General
The relevant market for analysis of the competitive factors involved in the proposed consolidation of the Maryland Trust Company and Fidelity-Baltimore National Bank is commercial banking in
the City of Baltimore and the surrounding suburban area. The
appropriateness of this relevant market is based upon the essentially
local character of commercial banking, the unique range of financial
services offered by the commercial banking system, and the lack of
alternatives or substitutes for many commercial banking services.
The banks themselves, in their application for permission to consolidate or merge, discuss the competitive aspects of their proposed
consolidation in terms of this relevant market.
The consolidation of the Maryland Trust Company and FidelityBaltimore National Bank would have the following effects upon
competition in commercial banking in the City of Baltimore and the
surrounding suburban area:
(1) It would eliminate substantial presently existing competition between the two banks;
(2) It would substantially increase commercial banking concentration to the point where the two largest banks would
54
REPORT OF THE COMPTROLLER OF THE
CURRENCY
account for over 53 percent, and the five largest hanks for over
95 percent, of the commercial banking resources in the area.
Such an increase in banking concentration constitutes a clear
tendency toward monopoly:
(3) It would combine two already large banks—both of
which have grown through mergers in recent years—into a
new bank which would account for nearly 30 percent of total
commercial banking resources in the area and would be substantially larger than its next largest competitor;
(4) It would eliminate a major bank as an independent
competitive entity, thereby eliminating an alternative source
of commercial banking services.
The proposed consolidation is not necessary to the maintenance
of the competitive ability of either of the banks, both of which have
expanded their branch banking systems and have increased their
earnings in recent years. Neither would the consolidation help to
maintain vigorous banking competition. On the contrary, the effects
described above can only be expected to substantially decrease the
vigor of competition, and to create a tendency toward monopoly,
in the commercial banking system in the Baltimore area.
Basis for Comptroller's Approval
Prior to the enactment of Public Law 86-463 on May 13, 1960,
the Comptroller of the Currency had given his approval to this
proposed consolidation, and all preliminary steps necessary and
incident to it had been taken, up to the final step of physically putting
the two banks together. In reliance upon the approval of the Comptroller of the Currency the banks had made all plans necessary to
consolidate on May 27, 1960.
A reconsideration of the consolidation under the provisions of
Public Law 86-463, led to no change in the conclusion that it would
be in the public interest. A careful reevaluation of the effect upon
competition led to the conclusion that the adverse effect upon competition flowing from the consolidation would not reach significant
proportions, and that there was no basis for a determination that
the consolidation would result in any tendency toward monopoly.
By this consolidation there was eliminated 1 of 14 competitors,
1 of 20 competitors with savings banks included, in the Baltimore
area; and there resulted an increase in size of 1 competitor from 21
to 29 percent of total resources among commercial banks and from 15
to 20 percent of total resources among commercial and savings banks.
There remains competition to the resulting bank from a competitor
having 24 percent of the total resources among commercial banks
and 17 percent of the total resources among commercial and savings
banks. Other competitors range from 17 to 11 percent of commercial
bank resources and from 13 to 7 percent of commercial and savings
bank resources. It appears clear that there would be no tendency
toward monopoly.
In Transamerica Corp. v. Board oj Governors (C.A. 3, 1953),
206 F. 2d 163, 169, the Court, in dealing with the question of what
constitutes a tendency toward monopoly stated:
55 REPORT OF THE COMPTROLLER OF THE CURRENCY
A monopoly involves the power to raise prices or to exclude competition when
the monopolist desires to do so. Obviously, under section 7 it was not necessary
for the Board to find that Transamerica has actually achieved monopoly power
but merely that the stock acquisitions under attack have brought it measurably
closer to that end.
To a like effect see the report of the Attorney General's National
Committee to Study the Antitrust Laws, p. 124.
The Baltimore National Bank did not by this consolidation move
"measurably closer" to the monopoly power of being able to raise
prices or to exclude competition when and if it should desire to do so.
It remains only 1 of 13 commercial banks and 20 commercial and
savings banks. Four of the commercial banks, and 3 of the savings
banks have resources in excess of $100 million each, and are quite
capable of furnishing effective competition. There is no basis in
law for a conclusion that this consolidation would result in a tendency
toward monopoly.
All of the banking factors involved in this consolidation were
favorable. Baltimore is the 7th largest city in the country and ranks
13th in population in terms of metropolitan area. Its largest bank,
however, ranked only 93d in size among commercial banks, and the
consolidated bank ranks only 72d. None of the Baltimore banks is
yet in a position to be an effective competitor at the national level.
Baltimore, in view of its size, needs and should have some large banks.
Commercial banking has to some extent lagged behind other industries in growth. It is essential that commercial banks be permitted
to grow where that can be done soundly without adverse effect upon
the services rendered to the public.
Description of Each Consolidation, Merger and Purchase and Sale
Transaction Approved by the Comptroller of the Currency, May 13Dec. 31, 1960—Continued
Banking offices
Name of bank and type of transaction
No. 3—Shiremanstown State Bank, Shiremanstown, Pa., with.
and The Harrisburg National Bank, Harrisburg, Pa. (580),
which had
merged June 24, 1960, under charter and title of the latter
bank (580). The merged bank at date of merger had
Total assets
In operation
$1, 528,633
1
42,275,167
3
46,803,800
To be
operated
4
Summary of Report by Attorney General
The Shiremanstown State Bank, Shiremanstown, Pa., and the
Harrisburg National Bank, Harrisburg, Pa., propose to consolidate
their banking businesses. This consolidation, although eliminating
some competition as between the two banks, would not appear to
reduce competition significantly within the general banking area.
Basis for Comptroller's Approval
Prior to the enactment of Public Law 86-463 on May 13, 1960,
the Comptroller of the Currency had considered this proposed merger,
and had concluded that it should be approved. Reconsideration of
56
REPORT OF THE COMPTROLLER OF THE
CURRENCY
the merger under the provisions of Public Law 86-463 led to no
change in the conclusion that it would be in the public interest.
Shiremanstown State Bank had recently lost its managing officer.
In addition, its size had precluded it from adequately serving the
banking needs of its area. The much larger merged bank would be
better able to do so. There was no significant adverse effect upon
competition.
Description of Each Consolidation, Merger and Purchase and Sale
Transaction Approved by the Comptroller of the Currency, May 13Dec. 31, 1960—Continued
Banking offices
Name of bank and type of transaction
Total assets
No. 4—The First National Bank of Kings Mountain, N.C.
(5451), with
and First Union National Bank of North Carolina, Charlotte, N.C. (9164), which had
merged June 24, 1960, under charter and title of the latter
bank (9164). The merged bank at date of merger had. _
$3,676,241
1
145, 763,838
27
In operation
149,171,396
To be
operated
28
Summary of Report by Attorney General
Merger of the First National Bank of Kings Mountain, Kings
Mountain, N.C., into First Union National Bank of North Carolina,
Charlotte, N.C.
This is the merger of the only bank in a community of 7,200 into a
bank with 28 offices covering a wide area of the State. The merged
bank has total resources of slightly more than $4 million. The
acquiring bank, with resources of approximately $152 million is the
fifth largest bank in the State. Its share of the total assets held by all
commercial banks in the State would increase less than one percent.
There does not appear to be any substantial lessening of competition.
Basis jor Comptroller's Approval
Prior to the enactment of Public Law 86-463 on May 13, 1960,
the Comptroller of the Currency had considered this proposed merger,
and had concluded that it should be approved. Reconsideration of
the merger under the provisions of Public Law 86-463 led to no change
in the conclusion that it would be in the public interest.
As a result of the merger the industries in the Kings Mountain area
will have available the expanded resources of the First Union National
Bank of North Carolina and the merged bank will not be vulnerable
to the seasonal fluctuations of bank deposits experienced by the First
National Bank of Kings Mountain. Also, the merged bank will be
in a much stronger position to supply the credit needs of the people of
both the Piedmont area as well as eastern and western North Carolina.
All the banking factors involved in the merger were favorable and
there appeared to be no adverse effect on competition in the banking
areas of the merging banks.
57 REPORT OF THE COMPTROLLER OF THE CURRENCY
Description of Each Consolidation, Merger and Purchase and Sale
Transaction Approved by the Comptroller of the Currency, May 13Dec. 31, 1960—Continued
Banking offices
Total assets
Name of bank and type of transaction
No. 5—The Thomaston National Bank, Thomaston, Maine
(1142), with
The First National Bank of Bath, Maine (2743), with
and First National Bank of Portland, Maine (4128),
which had
merged June 24, 1960, under charter and title of the lastnamed bank (4128). The merged bank at date of
merger had
In operation
To be
operated
$3, 558,937
3,529,925
10
70,880,647
12
77,969,509
Summary of Report by Attorney General
The merger of the First National Bank of Bath, Bath, Maine, into
First National Bank of Portland, Portland, Maine, would tend toward
monopoly and seriously diminish competition in commercial banking
in Bath. It would also have some adverse effect in Sagadahoc County
generally. First National Bank of Portland has recently acquired one
of the three banking offices in Bath. Its acquisition of another bank
in Bath would increase its present share of total assets by 32.84 percent
(to 63.28 percent), its share of deposits by 31.70 percent (to 60.47
percent), and its share of loans by 24.74 percent (to 50.78 percent).
Thus, concentration in commercial banking in Bath would increase
and existing competition would be permanently eliminated.
The merger of The Thomaston National Bank, Thomaston, Maine,
into First National Bank of Portland would have some adverse effect
on competition in commercial banking in the Town of Thomaston and
in Knox County generally. First National Bank of Portland, with a
recently acquired (by merger) office in Rockland in Knox County, is
presently in competition with The Thomaston National Bank in
Thomaston, and Knox County generally. That competition would be
eliminated, but probably with less serious effects than would flow from
the Bath merger because First National Bank of Portland does not
have a branch in Thomaston itself.
Basis for Comptroller's Approval
Prior to the enactment of Public Law 86-463 on May 13, 1960, the
Comptroller of the Currency had considered this proposed merger,
and had concluded that it should be approved. Reconsideration of
the merger under the provisions of Public Law 86-463 led to no change
in the conclusion that it would be in the public interest.
Both of the banks merging into the First National Bank of Portland
were very small and each had potential management problems.
Bath is located 35 miles northeast of Portland, situated in a trade
area of 40,000. Thomaston is located 75 miles northeast of Portland
in a trade area estimated at 30,000. Therefore, the merger would not
/lAmrvnfifiAn
in
-fVio P n T « f l o n / 1
QT*£»o
Wliilfl
f l i Q T?iT»af
MQ+IATIQI
58
REPORT OF THE COMPTROLLER OF THE
CURRENCY
institution has only 13.1 percent of the commercial and savings banks
deposits in the Bath area. Further, the First National Bank of Bath
had only 28 percent of its assets invested in loans and discounts as
compared to 56 percent for the First National Bank of Portland.
Prior to the merger, First National Bank of Portland had a branch
located 4 miles from Thomaston. However, the merged institution
has only 29.8 percent of the commercial and savings bank deposits in
the Thomaston area and introduced to Thomaston expanded services,
including a trust department, as well as the benefits of a larger
management staff.
Description of Each Consolidation, Merger and Purchase and Sale
Transaction Approved by the Comptroller of the Currency, May 13Dec. 31, 1960—Continued
Banking offices
Name of bank and type of transaction
No. 6—Union Trust Company of New Castle, Pa., with
and First National Bank of Lawrence County at New
Castle, Pa. (562), which had
consolidated June 30, 1960, under charter and title of the
latter bank (562). The consolidated bank at date of
consolidation had
Total assets
In operation
$9,116,804
1
21,390,346
2
28,107,150
To be
operated
2
Summary of Report by Attorney General
The First National Bank of Lawrence County at New Castle, Pa.
(FNB), and the Union Trust Company (Union), also at New Castle,
propose to consolidate their banking businesses. If this consolidation
is effected, whatever competition now exists with respect to commercial and homeowner loans will be eliminated. Also to be considered is the competition which will be eliminated between the banks
with respect to deposits by corporations, small business, individuals,
and farm owners.
FNB is presently the second largest bank in Lawrence County.
The proposed consolidation would place it in first position, only
slightly ahead of its next competitor, but substantially ahead of the
third bank and the remaining smaller banks in the county. Thus the
proposed merger may well lead to applications on the part of smaller
banks to merge in order to effectively compete with the largest bank
in the competitive areas.
Finally, it is to be noted that FNB and Union have been under
common ownership and have had common directors and officers for a
number of years.
Basis for Comptroller's Approval
Prior to the enactment of Public Law 86-463 on May 13, 1960, the
Comptroller of the Currency had considered this proposed consolidation, and had concluded that it should be approved. Reconsideration of the consolidation under the provisions of Public Law 86-463
led to no change in the conclusion that it would be in the public
interest.
59
HEPOftT OF THE COMPTROLLER OF THE CURRENCY
For many years all of the outstanding shares of stock of the First
National Bank, with the exception of the directors' qualifying shares,
had been owned by the Union Trust Company, the two banks occupied
adjoining buildings, the two banks had identical boards of directors,
and some of the same officers including President Hoyt serving both
banks. Thus the consolidation combined formally a parent corporation and its wholly owned subsidiary and could not be said to have
an adverse effect upon competition.
The banking factors involved in the consolidation were favorable.
It was in the public interest that these two closely affiliated institutions under identical management and control should be combined
into a single bank.
Description of Each Consolidation, Merger and Purchase and Sale
Transaction Approved by the Comptroller of the Currency, May 13Dec. 31, 1960—Continued
Banking offices
Name of bank and type of transaction
Total assets
In operation
No. 7—American Commercial Bank, Charlotte, N.O.. with__ $264,875,995
and Security National Bank of Greensboro, N.C. (13761),
which had
197,039,852
consolidated June 30,1960, under charter of the latter bank
(13761) and title "North Carolina National Bank,"
Charlotte, N.C. The consolidated bank at date of
consolidation had
457, 111, 165
To be
operated
17
24
41
Summary of Report by Attorney General
American Commercial Bank is the second largest bank and Security
National Bank is the fourth largest bank in the State of North
Carolina. Among 22 banks which are considered competitive, the
2 banks would have more than 26 percent of capital funds and 26
percent of deposits and more than 25 percent of loans. Among
the 22 banks, the 4 largest, including the consolidated bank, would
have 79 percent of capital funds, 83 percent of deposits, and 83 percent
of loans.
American Commercial operates 14 offices in Charlotte and 3 in
Raleigh. Security National operates 11 offices in Greensboro, 1
in Guilford, 1 in Wilmington, and 2 in Durham. Both banks now
operate in Raleigh where the consolidated bank would have 7 of 19
banking offices. The consolidated bank would have 41 of 119 offices
in the area which it considers as competitive, or 34.4 percent of
total offices in the area.
Both banks make the same kind of loans. There is direct competition between them in the making of loans and the securing of deposits.
Both banks also offer a full line of trust services. The consolidation
would mean the elimination of competition between the banks, and
the lessening of potential and existing competition to a serious degree.
It appears as a reasonable probability that, were this consolidation
to be approved, the tendency toward monopoly in North Carolina
would be increased.
60
HEPOftT
OF THE COMPTROLLER OF THE
CURRENCY
Basis for Comptroller's Approval
Prior to enactment of Public Law 86-463 on May 13, 1960, the
Comptroller of the Currency had given his preliminary approval to
this proposed consolidation. A reconsideration of the consolidation
under the provisions of Public Law 86-463, led to no change in the
conclusion that it would be in the public interest. A study of the
effect of this consolidation upon competition led to the conclusion
that it would have no adverse effect upon competition, and that it
would not tend toward monopoly.
The American Commercial Bank had 13 offices in Charlotte and 3
in Raleigh. It operated in no other cities. The Security National
Bank operated in 7 cities including Raleigh but not including
Charlotte. It had 11 branches in Greensboro, 4 in Raleigh, 2 each in
High Point, Burlington, and Durham and 1 each in Wilmington and
Tarboro. The closest branches of the Security National Bank to
Charlotte were at High Point, approximately 80 miles distant, and
the closest branches of the American Commercial to Greensboro
were in Raleigh, also 80 miles distant. The 2 banks were in direct
competition only in Raleigh, whej-e the 2 banks combined had 7
offices and approximately 15 percent of the total deposits held by all
bank offices in Raleigh. The Wachovia Bank & Trust Company, the
largest bank in North Carolina, had 5 offices in Raleigh with 45 percent
of the total deposits. Less than 17 percent of the total deposits held
by the Security National Bank were held in its offices in Raleigh and
less than 4 percent of the total deposits held by the American Commercial National Bank were in its branches in Raleigh.
To the extent that the business of the two banks was local, there
was no competition between them except in Raleigh, where, as indicated above, neither had a substantial portion of its business, nor did
they in combination have a significant portion of the bank business.
Moreover, the City of Raleigh was to some extent overbanked, and
it was felt that the combination of the offices of these two banks
would improve the banking situation in that city.
It did not appear that there was any significant competition between
the two banks at the State or regional level, although there may have
been some such competition. The American Commercial Bank,
being located in a reserve city, was more heavily engaged in sectional
business than was the Security National Bank. It had correspondent
bank accounts of approximately $67 million while the Security National
Bank had such accounts aggregating only $3 million.
In the State of North Carolina the largest bank is the Wachovia
Bank & Trust Company, which had total resources in excess of $658
million at the end of 1959, and was the 41st largest bank in the United
States. The consolidated bank resulting from this consolidation
would have combined resources of approximately $433 million, and
would be the second largest bank in North Carolina. In North
Carolina statewide branch banking is permitted and the consolidated
bank would be in competition with Wachovia Bank & Trust Company
in seven of the eight cities in which it would have branches. It
would have approximately 14 percent of the total banking resources
in the State of North Carolina as compared to 21 percent for the
Wachovia Bank & Trust Company. The consolidated bank with
61
HEPOftT
OF THE COMPTROLLER OF THE CURRENCY
its greater resources would be better able to offer greater competition
to the Wachovia Bank & Trust Company.
There would be no adverse effect upon competition flowing from
this merger, and the consolidated national bank would not by this
consolidation have, in the language of the Court of Appeals for
the Third Circuit, "moved measurably toward monopoly power/'
Transamerica Corp. v. Board of Governors (C.A. 3, 1953), 206 F. 2d
169; hence, there was no tendency toward monopoly.
All of the banking factors involved in this consolidation were
favorable. It was found that the convenience and needs of the
growing and increasingly industrial State of North Carolina would be
beneficially served by this consolidation. The banks had received
letters from the Governor of North Carolina, from the State treasurer,
and from the Commissioner of Banks, all to the effect that the consolidation would be beneficial to the State.
Description of Each Consolidation, Merger and Purchase and Sale
Transaction Approved by the Comptroller of the Currency, May 13Dec. 31, 1960—Continued
Banking offices
Name of bank and type of transaction
No. 8—The State Bank of West Terre Haute, Ind., with
and Terre Haute First National Bank, Terre Haute, Ind.
(47), which had
_
merged June 30,1960, under charter and title of the latter
bank (47). The merged bank at date of merger had
Total assets
In operation
$4,985,713
1
60,029,778
4
65,015,491
To be
operated
5
Summary of Report by Attorney General
The proposed merger of two of the four commercial banks presently
serving Vigo County, Ind., would eliminate the smallest of the four
banks although it has been an effective and steadily growing competitor, and would further enhance the already dominant position of
the acquiring bank. The resulting bank would be twice the size of
its next largest competitor and six times the size of its third competitor, and would control about 60 percent of the commercial bank
loans, deposits, and total resources in Vigo County, Ind.
Basis for Comptroller's Approval
Prior to the enactment of Public Law 86-463 on May 13, 1960, the
Comptroller of the Currency had considered this proposed merger
and had concluded that it should be approved. Reconsideration of
the merger under the provisions of Public Law 86-463 led to no
change in the conclusion that it would be in the public interest. State
officials had recommended to the State Bank of West Terre Haute
that it give active consideration to merging with one of the Terre
Haute Banks.
598026—61
5
62
HEPOftT
OF THE COMPTROLLER OF THE
CURRENCY
The State Bank of West Terre Haute was in unsatisfactory condition, it had serious asset problems, its future earnings prospects
were poor, and it offered only limited banking services in West Terre
Haute. The Terre Haute First National Bank was prepared to offer
a full line of banking services in that community.
Description of Each Consolidation, Merger and Purchase and Sale
Transaction Approved by the Comptroller of the Currency, May 13Dec. 31, 1960—Continued
Banking offices
Name of bank and type of transaction
No. 9—The Brookville State Bank, Brookville, Kans., with...
and The Farmers National Bank of Salina, Kans. (4742),
which had
merged June 30, 1960, under charter and title of the latter
bank (4742). The merged bank at date of merger had...
Total assets
In operation
$1,046,204
1
13,847,953
1
14,589,337
To be
operated
1
Summary of Report by Attorney General
The Brookville State Bank is the only bank in Brookville, Kans.
Since it is proposed to close this banking office, and since this bank and
the Farmers National Bank are now both serving the City of Salina and
surrounding area, the proposed merger would deprive Brookville of
its only banking office, would eliminate a bank now competing in both
the Brookville and Salina areas, and would eliminate existing competition between The Brookville State Bank and The Farmers National
Bank in Salina and the surrounding area. It would also eliminate
potential competition between the two banks in Brookville and the
surrounding area which might arise if The Farmers National Bank
should seek accounts there without absorbing The Brookville State
Bank. The competition eliminated does not appear to be substantial.
Basis for Comptroller's Approval
Prior to the enactment of Public Law 86-463 on May 13, 1960, the
Comptroller of the Currency had considered this proposed merger,
and had concluded that it should be approved. Reconsideration of
the merger under the provisions of Public Law 86-463 led to no change
in the conclusion that it would be in the public interest.
This was a merger of a State bank of limited resources and growth
potential, located in a small agricultural community of 250 population
with a larger national bank situated in a growing city favored by an
expanding economy. The Brookville bank because of its size was
unable to generate significant earnings. The banking needs of
Brookville could be adequately served by the Salina banks, and the
merger would result in no significant adverse effect upon competition.
63HEPOftTOF THE COMPTROLLER OF THE CURRENCY
Description of Each Consolidation, Merger and Purchase and Sale
Transaction Approved by the Comptroller of the Currency, May 13Dec. 31, 1960—Continued
Banking oflQces
Name of bank and type of transaction
No. 10—Woodburn State Bank, Woodburn, Ind., with
and Fort Wayne National Bank, Fort Wayne, Ind. (13818),
which had
merged June 30, 1960, under charter and title of the latter
bank (13818). The merged bank at date of merger had..
Total assets
In operation
$4,891,736
1
91,619,943
4
96,217,940
To be
operated
5
Summary of Report by Attorney General
The Attorney General has reported to the Comptroller of the
Currency that the above merger will have no significant adverse
competitive effect on the banking business in Fort Wayne and will
probably enable the resulting bank to compete more vigorously with
Fort Wayne's largest bank, the Lincoln National Bank and Trust
Company, for banking business in the nearby New Haven-Woodburn
area. The merger could adversely affect five area banks which
presently compete with the Woodburn State Bank. For the resulting
bank will have more than eight times the combined assets of the area
banks, much greater lending authority and be able to furnish a
complete line of banking-trust services which almost none of the area
banks can match. However, such competitive consequences are not
sufficiently predictable now to warrant our conclusion that the
proposed acquisition would adversely affect competition.
Basis for Comptroller's Approval
Prior to the enactment of Public Law 86-463 on May 13, 1960, the
Comptroller of the Currency had considered this proposed merger,
and had concluded that it should be approved. Reconsideration of
the merger under the provisions of Public Law 86-463 led to no change
in the conclusion that it would be in the public interest.
Fort Wayne is the county seat of Allen County and the third largest
city in Indiana and is located in the northeast section of the State.
The present population of Fort Wayne is approximately 145,000 and
it is an industrial city and the trading center of a fertile agricultural
region. Woodburn is 18 miles east of Fort Wayne and has an estimated population of 800. The economy of Woodburn is nearly completely dependent on the surrounding, highly productive farmlands as
the small town has no industry. Because of the geographic separation
of Fort Wayne National Bank and its branches from Woodburn State
Bank, and because of the markedly different character of the separate
communities in which the banks were located, it was determined that
there was virtually no competition between Fort Wayne National
Bank and Woodburn State Bank. Further, the banking factors
involved appear favorable.
64
HEPOftT
OF THE COMPTROLLER OF THE CURRENCY
Description of Each Consolidation, Merger and Purchase and Sale
Transaction Approved by the Comptroller of the Currency, May 13Dec. 31, 1960—Continued
Banking offices
Name of bank and type of transaction
No. 11—The First National Bank of Greenport, N . Y . (334),
with
and Valley Stream National Bank and Trust Company,
Valley Stream, N . Y . (11881), which had
merged July 8, 1960, under charter of the latter bank
(11881), and title "Valley National Bank of Long
Island." The merged bank at date of merger had
Total assets
In operation
$5,658,689
2
45,074,807
5
50,733,495
To be
operated
7
Summary of Report by Attorney General
The First National Bank of Greenport operates two offices on the
eastern end of Long Island, in Suffolk County, about 85 miles east
of Valley Stream. It has total resources of approximately $5,494,000,
loans and discounts of approximately $2,276,000, deposits of approximately $4,959,000, and capital funds of approximately $435,000.
A competitor, which operates a branch in Greenport, has total resources
of approximately $14,104,000.
Valley Stream National Bank and Trust Company operates four
offices in Nassau County, close to the New York City line. It has
total assets of approximately $48,100,000, loans and discounts of
approximately $21,214,000, deposits of approximately $43,200,000,
and capital funds of approximately $2,900,000.
On Long Island the 2 largest banks operate together more than
70 offices and have total resources of more than $1 billion. In Nassau
County there are about 105 banking offices.
The newly enacted banking act in New York State will permit
the New York City banks to expand either by merger or formation
of a holding company, into Nassau County but not into Suffolk
County. The resulting bank will remain as a competitive force in
banking in Long Island.
The merger will apparently not result in seriously adverse competitive effects.
Basis for Comptroller's Approval
Prior to the enactment of Public Law 86^L63 on May 13, 1960,
the Comptroller of the Currency had considered this proposed merger
and had concluded that it should be approved. Reconsideration
of the merger under the provisions of Public Law 86—163 led to
no change in the conclusion that it would be in the public interest.
Because of the distance between the merging banks, the merger
would not materially affect the competitive situation in either of the
banking areas. However, the merger would serve to provide better
banking service in Greenport.
65HEPOftTOF THE COMPTROLLER OF THE CURRENCY
Description of Each Consolidation, Merger and Purchase and Sale
Transaction Approved by the Comptroller of the Currency, May 13Dec. 31, 1960—Continued
Banking offices
Name of bank and type of transaction
No. 12—The Peoples Bank of Tiltonville, Tiltonsville, Ohio,
with
and The First National Bank and Trust Company in
Steubenville, Ohio (2160), which had—
consolidated July 15, 1960, under charter and title of the
latter bank (2160). The consolidated bank at date of
consolidation had
Total assets
In operation
$2,047,774
1
52,081,192
5
54,142,364
To be
operated
6
Summary of Report by Attorney General
The First National Bank and Trust Company of Steubenville,
Steubenville, Ohio (FNB), and the Peoples Bank of Tiltonville,
Tiltonsville, Ohio (Peoples Bank), propose to consolidate their
banking businesses.
On the basis of information presently before us, the competition
eliminated between FNB and Tiltonville as a result of this consolidation does not appear to be substantial. It appears, however, that this
proposed consolidation is another in a pattern of consolidations and
mergers in which FNB has engaged, directed to eliminating the
smaller banks in Jefferson County and increasing the dominance of
FNB in its competitive area, which may, if continued, have a substantial adverse effect on competition.
Basis for Comptroller's Approval
Prior to enactment of Public Law 86-463 on May 13, 1960, the
Comptroller of the Currency had given his preliminary approval to
this proposed consolidation. A reconsideration of the consolidation
under the provisions of Public Law 86-463 led to no change in the
conclusion that it would be in the public interest.
Steubenville has a population of approximately 39,000 and is the
county seat of Jefferson County, Ohio. It has 3 banks. Tiltonsville
is a village of approximately 2,000 persons located 16 miles to the
south of Steubenville and the Peoples Bank is the only banking
office in the village. There is a small bank at Yorkville, a community of 1,850 people just south of Tiltonsville, with total resources
of less than $2 million. The total resources of the First National
Bank and Trust Company were in excess of $52 million, while the
total resources of the Peoples Bank were less than $2 million. There
was no substantial competition between these two institutions.
All the banking factors involved in this consolidation were favorable.
The establishment of an office of the First National Bank and Trust
Company in Tiltonsville will better serve the needs of the Tiltonsville
area because of the broader services and greater lending capacity which
it offers. The Peoples Bank of Tiltonville had confined its lending
activities to real estate mortgages, consumer credit and a small
amount of commercial loans.
66
HEPOftT
OF THE COMPTROLLER OF THE
CURRENCY
Description of Each~Consolidation, Merger and Purchase and Sale
Transaction Approved by the Comptroller of the Currency, May 13Dec. 31, 1960—Continued
Banking offices
Name of bank and type of transaction
Total assets
N o . 13—The Essex National Bank, Essex, Conn. (8936), with,
was purchased July 18, 1960, by Hartford National Bank
and Trust Company, Hartford, Conn. (1338), which had.
After the purchase was effected the receiving bank had
$3,144,694
1
437,417,621
439,907,430
24
In operation
To be
operated
25
Summary of Report by Attorney General
The Hartford National Bank and Trust Company, Hartford, Conn.,
roposes to purchase the assets and assume the liabilities of the Essex
rational Bank, Essex, Conn.
Hartford National is the largest bank in Connecticut. It operates 24 offices, which are located in the greater Hartford area and
in Colchester, Farmington, Manchester, Middletown, Mystic, New
London, Niantic, Norwich, Old Saybrook, Stonington, Torrington,
Wethersfield, and Windsor. As of March 15, 1960, Hartford National
had total assets of $433,065,000, loans and discounts of $197,625,000,
deposits of $377,406,000 and capital funds of $38,888,000.
Essex National is one of two commercial banks in the Town of
Essex. The other is a branch of Riverside Trust Company of Hartford.
Essex, as of March 15, 1960, had total assets of $3,014,000, loans and
discounts of $1,135,000, deposits of $2,546,000, and capital funds of
$356,000.
Essex has no trust powers. Hartford's trust department administers trust funds with book value of more than $650 million, including
more than 60 accounts in the Essex-Old Lyme area with a book value
of approximately $9 million.
Hartford National has about 8 percent of the total assets, deposits,
and capital accounts of all banks in the State. Its capital account
of $38,888,000 is more than 10 times that of Riverside Trust Company,
which operates the other bank in Essex.
In view of the special circumstances which exist with respect to
the management of this bank, its acquisition by Hartford National
does not appear to be one which will have a significant adverse effect
on competition.
Basis for Comptroller's Approval
S
At the time of this transaction the Essex National Bank had a
severe management problem, and was actually being managed by an
officer on loan from the Hartford National Bank. In addition, the
transaction would provide Essex with increased banking services
because of the larger resources of the Hartford National Bank.
67HEPOftTOF THE COMPTROLLER OF THE CURRENCY
Description of Each Consolidation, Merger and Purchase and Sale
Transaction Approved by the Comptroller of the Currency, May 13Dec. 31, 1960—Continued
Banking offices
Name of bank and type of transaction
Total assets
In operation
No. 14—The Farmers National Bank of Pennsburg, Pa. (2334),
with
and The Peoples National Bank of Norristown, Pa. (2581)
which had
consolidated July 29,1960, under charter of the latter bank
(2581), and title " T h e Peoples National Bank and Trust
Company of Norristown." The consolidated bank at
date of consolidation had
$3,300,715
1
23,478,916
5
To be
operated
26,779,632
6
Summary of Report by Attorney General
The Peoples National Bank, with assets of $23,361,000, operates
five offices in and around Norristown in southern Montgomery County.
Farmers National Bank, with assets of $3,604,000, operates one office
in Pennsburg, about 25 miles northwest. In the Pennsburg area,
Farmers National is the smallest of four competing banks. In Norristown, Peoples National competes against Montgomery County Bank
and Trust Company, with assets of $95,830,000 and 10 offices, and a
branch office of Philadelphia National Bank, which has assets of more
than $1 billion.
It does not appear that the consolidation of these two banks will
have an adverse effect on competition in banking in Montgomery
County.
Basis for Comptroller's Approval
The Farmers National Bank of Pennsburg had loan and liquidity
problems of serious proportions.
Description of Each Consolidation, Merger and Purchase and Sale
Transaction Approved by the Comptroller of the Currency, May 13Dec. 31, 1960—Continued
Banking offices
Name of bank and type of transaction
Total assets
No. 15—The Rye National Bank, Rye, N . Y . , (5662) with
and National Bank of Westchester, White Plains, N . Y .
(10525), which had___
consolidated July 29, 1960, under charter and title of the
latter bank (10525). The consolidated bank at date of
consolidation had
$28,337,312
2
181,411,789
19
In operation
209,749,101
To be
operated
21
Summary oj Report by Attorney General
The consolidation of the National Bank of Westchester, White
Plains, N.Y., and the Rye National Bank, Rye, N.Y., would not
have a substantial adverse effect on competition in the areas served
68
HEPOftT
OF THE COMPTROLLER OF THE CURRENCY
by these banks. No substantial presently existing competition would
be eliminated by the consolidation since none of the National Bank
of Westchester's offices are located in the communities in which the
Rye National Bank's two offices are located. Although the consolidation would result in an increase in the size of the second largest
bank in Westchester County, the recent changes in the New York
State banking law, which enables New York City commercial banks
to establish branches in Westchester County, may be expected to
minimize such adverse competitive effects as might result from the
consolidation.
Basis for Comptroller's Approval
The consolidated bank would be better able to service the convenience and needs of Rye and Harrison (where the Rye National Bank
operated a branch) than was the Rye National Bank which had
insufficient loanable funds. There was no substantial existing competition between the two banks.
In addition, under the New York Omnibus Banking law enacted
in 1960, New York City commercial and savings banks are permitted
to establish branches in Westchester County thus making that county
in effect a part of New York City for the purposes of competitive
considerations.
Description of Each Consolidation, Merger and Purchase and Sale
Transaction Approved by the Comptroller of the Currency, May 13Dec. 31, 1960—Continued
Banking offices
Name of bank and type of transaction
No. 16—The Washington National Bank, Washington, Kans.
(3167), with
was purchased Aug. 6, 1960, by The First National Bank
of Washington, Kans. (2912), which had-After the purchase was effected the receiving bank had
Total assets
In operation
$1,439,445
1
2,287,000
3,719,000
1
To be
operated
1
Summary of Report by Attorney General
The Washington National Bank and First National Bank of Washington are the only banks in the Town of Washington, Kans., and are
the largest of the 10 banks in Washington County. Both banks,
however, are very small having combined deposits of only $4,086,000.
Furthermore, the population of both the county and town of Washington have decreased greatly since the turn of the century, the
population of the county having decreased from 20,000 to 10,500
during the last 40 years and the population of the town having decreased from 2,500 to 1,500.
According to the application submitted by the banks, the management of the Washington National Bank, due to a desire to reduce the
volume of work handled, has recently decreased the activities of the
bank and the only two managing officers of the bank have recently
retired.
69HEPOftTOF THE COMPTROLLER OF THE CURRENCY
For the foregoing reasons, it is our conclusion that the proposed
purchase of assets and assumption of liabilities of the Washington
National Bank by the First National Bank of Washington would not
have a substantial adverse effect on competition.
Basis for Comptroller's Approval
Washington is the county seat of Washington County and both
the town and county have experienced a steady decline in population
which is attributable to agricultural mechanization and the expansion
of farm units. Further while these were the only two banks in the
town of Washington, little competition was experienced from the
selling bank due to the age, dissension, and restrictive policies of the
former owner managers of that bank. Their decision to retire from
the banking business left the bank without management.
Description of Each Consolidation, Merger and Purchase and Sale
Transaction Approved by the Comptroller of the Currency, May 13^Dec. 31, 1960—Continued
Banking offices
Name of bank and type of transaction
Total assets
No. 17—The Bank of Mid-America Savings and Trust
Company, Oklahoma City, Okla., with.
and the Liberty National Bank and Trust Company of
Oklahoma City, Okla. (11230), which had
merged Aug. 12, 1960, under charter and title of the latter
bank (11230). The merged bank at date of merger had..
190,656,247
In operation
To be
operated
$7,591,706
197,114,372
Summary of Report by Attorney General
The Bank of Mid-America, established in 1957, would be merged
into the Liberty National Bank and Trust Company. Mid-America
has total resources of $9,291,000, deposits of $7,974,000, and capital
funds of $1,250,000, and represents slightly more than 1 percent of the
banking business among the 15 banks in the Oklahoma City area.
Liberty National has total resources of $209,506,000, deposits of
$171,484,000, and capital funds of $15,022,000, and represents
approximately 29 percent of the banking business in the area. The
merger, while it would mean the disappearance of the newest bank in
downtown Oklahoma City, would not appear to have a materially
adverse effect on competition in banking in Oklahoma City.
Basis for Comptroller's Approval
This was an acquisition by the second largest bank in Oklahoma
City of the smallest bank in the central part of the city. The latter
had only slightly more than 1 percent of the banking business in
Oklahoma City and had not grown as had been anticipated at the
time of its organization in 1957. The banking factors were favorable
and there was no significant adverse effect on competition.
70
HEPOftT
OF THE COMPTROLLER OF THE
CURRENCY
Description of Each Consolidation, Merger and Purchase and Sale
Transaction Approved by the Comptroller of the Currency, May 13Dec. 31, 1960—Continued
Banking offices
Name of bank and type of transaction
No. 18—Indiana Trust and Savings Bank of Evansville, Ind.,
with
and Old National Bank in Evansville, Ind. (12444), which
had
consolidated Sept. 2, 1960, under charter and title of the
latter bank (12444). The consolidated bank at date of
consolidation had
Total assets
In operation
$5,620,841
1
77,048,840
5
To be
operated
82,585,013
6
Summary of Report by Attorney General
The Department of Justice reports that while the elimination of
Indiana Trust, Evansville's next to the smallest bank, as a competitor
and the corresponding increase in the share of the banking business
of Old National, Evansville's largest bank, do not appear at present to
have a significant anticompetitive effect, the consolidation may
trigger a chain reaction of mergers and consolidations among Evansville's other four banks so that only three banks may remain in Evansville instead of the present six. The consolidation under review may,
then, have the effect of increasing the tendency to monopoly and
concentration in banking in Evansville.
Basis for Comptroller's Approval
This was a consolidation of a small bank with limited potential
into a much larger bank. The banking factors were favorable and it
was our conclusion that there would be no significant effect upon
competition.
Description of Each Consolidation, Merger and Purchase and Sale
Transaction Approved by the Comptroller of the Currency, May 13Dec. 31, 1960—Continued
Banking offices
Name of bank and type of transaction
Total assets
No. 19—The First National Bank of Elmwood Place, Ohio
(6314), with..
was purchased Sept. 2, 1960, by The First National Bank
of Cincinnati, Ohio (24), with
After the purchase was effected the receiving bank had
$5,833,398
1
457,113,000
462,178,000
19
In operation
To be
operated
20
Summary of Report by Attorney General
Commercial banking in Cincinnati and Hamilton County has
become increasingly concentrated in the past decade, and First
National has contributed materially to this concentration through
71
HEPOftT OF THE COMPTROLLER OF THE CURRENCY
consolidations. Thus, as of June 30, 1950, Cincinnati had 12 banks
with a total of $967,355,218 in assets. As of December 31, 1959,
while total assets had increased to $1,348,780,663, the number of
banks was reduced to six. The number of banks in the county was
reduced from 21 to 11. During this period, First National of Cincinnati acquired five commercial banks (and one savings bank) in
Hamilton County, two of which were in Cincinnati. The following
table shows the respective shares of Hamilton County assets, deposits
and loans, for these five banks and First National of Cincinnati
10 years ago, and for First National of Cincinnati today:
First National of
Cincinnati
1950
Assets
Deposits
Loans and discounts
Percent
20.33
20.42
28.13
1960
Percent
32.88
33.40
32. 71
5 banks
acquired
1950
Percent
12.27
12.81
13.22
The county shares of First National of Elmwood Place in 1950 and
today are:
Assets
1950
I960
Percent
0.28
.40
Deposits
Percent
0.29
.41
Loans and
discounts
Percent
0.34
.39
First National of Cincinnati thus has already absorbed five banks
with well over 10 percent of the county's banking business. In so
doing, it has already substantially reduced competition in Hamilton
County, and has substantially increased its share of the county's
commercial banking business largely, if not entirely, through consolidations rather than internal growth. The proposed acquisition
cannot be considered aside from the earlier history of mergers, but
must be viewed as a continuation of an existing process of concentration of commercial banking in Hamilton County. As such, it will
further continue the trend toward fewer and fewer independent sources
of banking services in Hamilton County and the surrounding area,
and would continue the tendency to monopoly in commercial banking
in Hamilton County.
Basis for Comptroller's Approval
Elmwood Place has a population of approximately 4,000 and is
surrounded on 3 sides by the city of Cincinnati. The First National
Bank of Elmwood Place did not have adequate lending powers to meet
the credit needs of the many industries in the area. As a result of its
absorption by the First National Bank of Cincinnati, a wider range
of services would be offered to the Elmwood Place area including a
72
HEPOftT
OF THE COMPTROLLER OF THE
CURRENCY
trust department, an international banking department, a complete
line of consumer-credit facilities, corporation-loan facilities, collection
facilities, and a bond-trading department.
As a result of the purchase, the relative size of the First National
Bank of Cincinnati was increased very slightly and its competitive
status was not changed significantly in relation to the other banks in
the community. Prior to the sale, the First National Bank of Elmwood Place was the only bank in the community and by the substitution of a branch of the larger institution it was anticipated that
competition would increase in the area.
Description of Each Consolidation, Merger and Purchase and Sale
Transaction Approved by the Comptroller of the Currency, May 13Dec. 31, 1960—Continued
Banking offices
Name of bank and type of transaction
No. 20—The Bergenfield National Bank and Trust Company,
Bergenfield, N.J. (11368), with
and Citizens National Bank of Englewood, N.J. (4366),
which had.
consolidated Sept. 23, 1960, under charter and title of the
latter bank (4366). The consolidated bank at date of
consolidation had
Total assets
In operation
$19,716,446
2
46,596,286
2
66,312,731
To be
operated
4
Summary oj Report by Attorney General
The consolidation of Citizens National Bank of Englewood and
Bergenfield National Bank and Trust Company would unite the second
and sixth largest banks among nine in the area without any change in
position of the remaining banks. The proposal was initiated by the
smaller bank which believed its cost of operation was high in comparison to its competitors. Competition eliminated as a result of
the consolidation does not appear to be substantial in view of the
nature of the geographic area served and the competition afforded
by New York City banks for the business of commuters.
Basis for Comptroller's Approval
Unsatisfactory earnings and inability to effect needed economies
were the principal causes for the proposal by the Bergenfield bank to
consolidate. Because of the character of the communities served and
the competitive conditions existing in the area, the direct competition
between the consolidating banks appeared to be negligible.
73HEPOftTOF THE COMPTROLLER OF THE CURRENCY
Description of Each Consolidation, Merger and Purchase and Sale
Transaction Approved by the Comptroller of the Currency, May 13Dec. 31, 1960—Continued
Banking offices
Name of bank and type of transaction
Total assets
No. 21—City Bank and Trust Company, Macon, Ga., with—_
and the Citizens & Southern National Bank, Savannah,
Ga. (13068), which had
consolidated Sept. 23, 1960, under charter and title of the
latter bank (13068). The consolidated bank at date of
consolidation had
$7,195,246
1
534,422,686
18
In operation
541,314,161
To be
operated
19
Summary of Report by Attorney General
Citizens and Southern National Bank, with 14 offices in Savannah,
Atlanta, Macon, Athens, Augusta, and Valdosta, proposed to consolidate City Bank and Trust Company, operating one office in Macon.
Citizens and Southern National is part of the Citizens and Southern
System, which operates 11 banks and 31 banking offices in Georgia
and controls total banking resources of more than $678 million. The
other commercial bank in Macon, The First National Bank and Trust
Company, is controlled by the Trust Company of Georgia and is one of
seven affiliated banks with total assets of more than $347 million.
After consolidation the two remaining banks in Macon would be
about equal in size, based on assets, loans and discounts, and deposits in Citizens and Southern Macon offices. Citizens and Southern
National can lend a single customer 10 times the permissible limit
for First National; however, First National has demonstrated an
ability to arrange loans above its lending limit.
City is not a substantial factor in competition in the trust field,
and there is little loan business common to both City and Citizens and
Southern.
Common depositors represent 8 percent of Citizens and Southern
Macon's total deposits and 14 percent of City's total deposits.
Basis for Comptroller's Approval
The City Bank and Trust Company had management and asset
problems which made it desirable that it be consolidated into a larger
bank.
74
HEPOftT
OF THE COMPTROLLER OF THE
CURRENCY
Description of Each Consolidation, Merger and Purchase and Sale
Transaction Approved by the Comptroller of the Currency, May 13Dec. 31, 1960—Continued
Banking offices
Name of bank and type of transaction
No. 22—The First National Bank of Tamaqua, Pa. (1219),
with
and The Miners National Bank of Pottsville, Pa. (649),
which had.
'
consolidated Sept. 30,1960, under charter and title of the
latter bank (649). The consolidated bank at date of
consolidation had.
Total assets
In operation
$6,976,500
1
25,236,236
4
32,212,736
To be
operated
5
Summary of Report by Attorney General
The Miners National Bank of Pottsville and The First National
Bank of Tamaqua are both located in Schuylkill County, Pa. Miners
National is presently the largest commercial bank in these two
commuiiities. Based upon the type of services rendered and the classes
of clientele served, these banks would appear to be potential competitors although existing competition between the two does not
presently appear to be substantial.
The proposed consolidation may accelerate to a degree concentration in the field of commercial banking in the Pottsville-Tamaqua
market area. In addition, it will increase the leading position of
Miners National in Pottsville. Were the communities of Pottsville
and Tamaqua together considered to be a marketing area, the consolidated bank subsequent to the merger would have 35.3 percent of
total resources in these two communities, which are considerably in
excess of the shares held by the four smaller banks in these two
communities. Thus, while there would result from the proposed
consolidation a trend toward monopoly the trend would not be
pronounced.
Basis for Comptroller's Approval
Pottsville and Tamaqua are in Schuylkill County which is divided
geographically and economically into several compartments by a
series of mountain ranges. The county is in the anthracite coal
region and has suffered with the decline in that industry, losing 14
percent of the population in the past 10 years.
Pottsville, the county seat, has experienced greater recovery and
economic improvement than the other areas in the district because
of a broader economic base provided by diversified industry and
development. Tamaqua lies 17 miles northeast ol Pottsville and is
almost wholly dependent on the coal industry. Its population has
declined 20 percent in the past 10 years.
Because of the distance between the banks and the mountainous
terrain there was little competition between the banks. They had
each experienced fair earnings and the operating economies resulting
from the consolidation would improve earnings.
75HEPOftTOF THE COMPTROLLER OF THE CURRENCY
Description of Each Consolidation, Merger and Purchase and Sale
Transaction Approved by the Comptroller of the Currency, May 13Dec. 31, 1960—Continued
Banking offices
Name of bank and type of transaction
No.23—The Citizens Bank and Trust Company of Bloomington, Ind., with
i
and The First National Bank of Bloomington, Ind. (1888),
which had..
—
consolidated Sept. 30, 1960, under charter of the latter
bank (1888), and under the title'' Citizens First National
Bank of Bloomington." The consolidated bank at date
of consolidation had
Total assets
In operation
$9,195,298
1
18,048,826
1
27,265,342
To be
operated
1
Summary of Report by Attorney General
The Attorney General has reported to the Comptroller of the Currency that the proposed consolidation of The First National Bank of
Bloomington, Bloomington, Ind., and the Citizens Bank and Trust
Company of Bloomington, Bloomington, Ind., would have seriously
adverse competitive effects and would increase a tendency to monopoly in banking in Bloomington, Ind.
Bloomington has only four banks. The proposed consolidation is
between the two largest banks in Bloomington. Thus, the competition and potential competition between the two largest banks would
be eliminated. The resulting bank would greatly preponderate over
the remaining two banks in Bloomington, plus two other banks in
Ellettsville and Nashville, Ind. (which are claimed to compete with
the Bloomington banks), in deposits, loans, resources, and capital
accounts. The resulting bank would have more than 55 percent of
the totals in each of these categories. The remaining banks would
find it substantially more difficult to compete, and might be forced
to follow the consolidation route marked by the largest banks. The
tendency to monopoly in banking in Bloomington would thus be
increased.
This proposed merger would have substantial adverse competitive
effects and raises serious questions under the antitrust laws.
Basis for Comptroller's Approval
Prior to the enactment of Public Law 86-463 on May 13, 1960, the
Comptroller of the Currency had considered this proposed consolidation and had concluded that it should be approved. Reconsideration
of the consolidation under the provisions of Public Law 86-463 led to
no change in the conclusion that it would be in the public interest.
The consolidating banks were affiliated through the same persons
holding the controlling interest in each. Therefore, the competition
between the two institutions had been somewhat limited, and the
ability of the two remaining banks in Bloomington to compete would
not be materially lessened as a result of the consolidation. Moreover,
Bloomington with a population of 31,000, had outgrown its banking
facilities and had no bank large enough to adequately serve its needs.
76
HEPOftT
OF THE COMPTROLLER OF THE CURRENCY
Some business originating in Bloomington thus goes to the Indianapolis banks. The consolidated bank would be far better able to
serve the convenience and needs of the community, while three banks
in a community of this size give ample competitive choice.
This consolidation would resolve for the Citizens Bank and Trust
Company a problem created by lack of successor management and the
illness of its managing officer.
Description of Each Consolidation, Merger and Purchase and Sale
Transaction Approved by the Comptroller of the Currency, May 13Dec. 31, I960—Continued
Banking offices
Name of bank and type of transaction
No, 24—The Highland Bank, Fort Thomas, Ky., with
was purchased Sept. 30, 1960, by The Newport National
Bank, Newport, Ky. (4765), which had
After the purchase was effected the receiving bank h a d —
Total assets
In operation
$2,901,588
1
12,799,000
15,363,000
2
To be
operated
3
Summary of Report by Attorney General
The Attorney General has reported to the Comptroller of the
Currency that the proposed merger of Newport National Bank,
Newport, Ky., and Highland Bank, Fort Thomas, Ky., would eliminate a small competing bank in Campbell County in northern Kentucky, and increase the already first place position of Newport
National Bank to a degree in banking in that county.
Newport Bank and Highland Bank are located 3 miles apart.
The loan portfolios and deposit structures of the two banks are
similar, and service charges and interest rates are the same. Highland
Bank is favorably located with respect to the trend of population
growth in Campbell County. Acquisition would put Newport in
this location. However, banks in Campbell County face a certain
amount of competition from much larger institutions located across
the Ohio River in Cincinnati, Ohio. Thus, while the merger may
have some effect on competition it does not appear that the effect
will be substantial.
Basis for Comptroller's Approval
The consolidated bank would be better able to serve the convenience
and needs of Fort Thomas, and there were no adverse factors.
77HEPOftTOF THE COMPTROLLER OF THE CURRENCY
Description of Each Consolidation, Merger and Purchase and Sale
Transaction Approved by the Comptroller of the Currency, May 13Dec. 31, 1960—Continued
Banking oflaces
Name of bank and type of transaction
No. 25—The Hillsboro Guaranty Savings Bank, Hillsboro,
N.H., with
was purchased Sept. 30,1960, by The First National Bank
of Hillsborough, Hillsboro, N . H . (1688), which had
After the purchase was effected the receiving bank had. - _
Total assets
In operation
$3,053,359
1
1,408,021
4,078,138
1
To be
operated
1
Summary of Report by Attorney General
The Hillsboro Guaranty Savings Bank and First National Bank of
Hillsborough are both owned by the same individuals and occupy the
same premises. First National is the only commercial bank and
Guaranty Savings the only savings bank serving a trade area of
approximately 6,700 persons in and around Hillsboro, N.H. The
present owners have contracted to sell their banking interests and
the purchasers, who have required a merger of the banks as a condition to the sale, have indicated that the resulting bank will offer
complete banking services to the area. One new service to be offered
is that of installment credit.
In view of the lack of competition between the Hillsboro Guaranty
Savings Bank and the First National Bank of Hillsborough, it does
not appear that a merger, through the purchase of the assets and
assumption of liabilities of Hillsboro Guaranty Savings Bank by the
First National Bank, will have any appreciable effect upon
competition.
Basis for Comptroller's Approval
The two banks were both controlled by the same individuals and
occupied the same quarters. Prospective purchasers of the two banks
desired that they be merged and it seemed desirable that this be done.
Description of Each Consolidation, Merger and Purchase and Sale
Transaction Approved by the Comptroller of the Currency, May 13Dec. 31, 1960—Continued
Banking oflaces
Name of bank and type of transaction
No. 26—Merchants & Farmers Bank of Statesville, Inc.,
Statesville, N.C., with
.
and North Carolina National Bank, Charlotte, N.C.
(13761), which had
merged Oct. 7, 1960, under charter and title of the latter
bank (13761). The merged bank at date of merger had..
598026—61-
0
Total assets
In operation
$15,947,460
4
455,540,803
42
469,990,442
To be
operated
46
78
HEPOftT
OF THE COMPTROLLER OF THE
CURRENCY
Summary of Report by Attorney General
North Carolina National Bank, the second largest bank in the
State, operates 41 offices across the State. It has total assets of more
than $457 million, total loans of $226,591,000, total deposits of
$405,856,000, and total capital accounts of $37,698,000.
Merchants and Farmers Bank operates 4 offices in and near Statesville, an area of 20,000 population. It has total assets of $15,170,000,
total loans of $8,346,000, total deposits of $13,709,000, and capital
accounts of $1,303,000.
In the area in which North Carolina National operates, it is a
strong competitive factor. It has grown in recent years by acquisition
and merger, and does business on a regional and national scale.
The following table indicates the dominant position now held by
North Carolina National throughout the state.
Percentages
of IPC Deposits
and loans held by merging banks in service
Service area
Charlotte
Greensboro
Raleigh
Durham
Wilmington
High Point
Burlington
T arboro
*
*
*
»
Statesville
areas
IPC
deposits
IPC loans
Percent
Percent
47.5
69.0
19.5
9.7
15.4
23.7
31.5
* 42.1
*
40.7
*
48.5
75.3
20.4
7.8
18.8
29.3
38.8
68.7
*
40.8
Its proposed entry into another service area in the State would have
an adverse effect on competition in banking in North Carolina.
Basis for Comptroller's Approval
North Carolina National Bank operates a number of branches
throughout the State of North Carolina. It is the second largest
bank in North Carolina, Wachovia Bank and Trust Company being
the largest. It had less than 15 percent of the State's total banking
resources and less than 7 percent of the total banking offices. By this
merger it would acquire offices in a service area in which it had no
existing offices. Thus, there would be no lessening of competition
by this merger. Furthermore, the acquisition by the North Carolina
National Bank of the Statesville bank would not be significant so
far as statewide, regional or national competition is concerned.
All the banking factors were favorable.
79HEPOftTOF THE COMPTROLLER OF THE CURRENCY
Description of Each Consolidation, Merger and Purchase and Sale
Transaction Approved by the Comptroller of the Currency, May 13Dec. 31, 1960—Continued
Banking offices
Name of bank and type of transaction
No. 27—The Peoples National Bank of Somerset, Pa; (13900),
with
„
and United States National Bank in Johnstown, Pa.
(13781), which had
consolidated Oct. 15, 1960, under charter and title of the
latter bank (13781). The consolidated bank at date of
consolidation had
Total assets
In operation
$5,524,704
1
52,105,005
3
To be
operated
4
57,597,912
Summary of Report by Attorney General
United States National Bank in Johnstown and The Peoples National
Bank of Somerset are located in contiguous counties in Pennsylvania.
Based upon the type of services rendered and the classes of clientele
served, these banks would appear to be, to a degree at least, actual
as well as potential competitors.
By virtue of the consolidation if it takes place, U.S. National will
become the largest banking institution in Somerset (if its total resources are considered); will have about 62 percent of the $87.4
million of commercial banking resources in the whole Somerset area;
and about 31 percent of the commercial banking resources in the
entire Johnstown-Somerset area. By the consolidation U.S. National
would increase substantially its already dominant position in these
broader geographical areas.
Basis for Comptroller's Approval
Johnstown and Somerset are in southwestern Pennsylvania about
30 miles apart. There was no significant competition between the
consolidating banks. The consolidation would have no effect upon
competition in Johnstown and very little if any effect upon competition in Somerset, while bringing to Somerset the advantages of
expanded credit and banking facilities.
Description of Each Consolidation, Merger and Purchase and Sale
Transaction Approved by the Comptroller of the Currency, May 13Dec. 31, 1960—Continued
Banking offices
Name of bank and type of transaction
Total assets
No. 28—National Bank of Commerce of Gastonia, N.C.
(14291), with
and First Union National Bank of North Carolina,
Charlotte, N.C. (9164), which had
merged Oct. 18,1960, under charter and title of the latter
bank (9164). The merged bank at date of merger had _ _
$16,385,747
3
166,263,388
28
181,780,981
In operation
To be
operated
31
80
HEPOftT
OF THE COMPTROLLER OF THE CURRENCY
Summary of Report by Attorney General
First Union National Bank of North Carolina, with head office in
Charlotte, and about 28 branches throughout the State, proposes to
acquire National Bank of Commerce of Gastonia, operating 3 offices,
all in Gastonia. First Union is the fourth largest bank in the State,
and has had considerable growth due to acquisitions in recent years.
National Bank of Commerce is the smaller of the two banks in Gastonia. It has also grown at a good rate in recent years by internal
expansion and not by acquisition.
The proposed acquisition would provide First Union with three
branches in the only large city between Charlotte and Kings Mountain, where First Union recently acquired the only bank in that city.
The proposed acquisition would appear to have adverse effects on
competition in banking in North Carolina.
Basis for Comptroller's Approval
Gastonia and Charlotte, N.C., lie 21 miles apart, but their suburbs
practically join one another. They are both industrial areas expanding with the growth of the economy of the Piedmont area. Each
city has increased 50 percent in population in the past 10 years. The
First Union National Bank had no branches in Gastonia and little if
any significant competition between the two banks existed or would
be eliminated. Gastonia would benefit from the expanded service
and increased credit potential of the combined bank.
Description of Each Consolidation, Merger and Purchase and Sale
Transaction Approved by the Comptroller of the Currency, May 13Dec. 31, 1960—Continued
Banking offices
Name of bank and type of transaction
No. 29—First National Bank of Lewiston and Auburn,
Lewiston, Maine (330), with
and the Manufacturers National Bank of Lewiston, Maine
(2260) which had
consolidated Oct. 28,1960, under charter of the latter bank
(2260), and under the title "First-Manufacturers
National Bank of Lewiston and Auburn." The consolidated bank at date of consolidation had
Total assets
In operation
$26,269,134
3
23,437,488
1
49,706,622
To be
operated
4
Summary of Report by Attorney General
The proposed merger of the Manufacturers National Bank of Lewiston and First National Bank of Lewiston and Auburn would constitute
a merger of the two largest of the four commercial banks in Auburn
and Lewiston (the smaller banks being only branches of larger statewide banks). The merger would have the effect of reducing the
number of commercial banks in Lewiston and Auburn from four to
three; would eliminate the substantial competition between such
banks and increase the concentration of banking facilities in that
area.
81HEPOftTOF THE COMPTROLLER OF THE CURRENCY
Basis for Comptroller's Approval
Prior to 1955 there were four commercial banks in Lewiston. At
that time Depositors Trust Company of Augusta, Maine, acquired the
Lewiston Trust Company. At the date of the merger that bank's total
number of branches was 24. In 1960 the Casco Bank and Trust Company, Portland, Maine, acquired the First Auburn Trust Company
bringing the total of its branches to 17. While the consolidating banks
were in direct competition with one another their most substantial
competition came from the branches of the above State banks. The
Manufacturers National Bank of Lewiston had no branches and First«
National Bank of Lewiston and Auburn had a branch in Lewiston and
one in downtown Auburn. As a result of the consolidation the consolidated institution will be able to compete more effectively with the other
larger banks above mentioned, having many branches and extensive
territorial coverage, through increased credit potential, greater resources and facilities and more complete services.
Description of Each Consolidation, Merger and Purchase and Sale
Transaction Approved by the Comptroller of the Currency, May 13Dec. 31, 1960—Continued
Banking offices
Name of bank and type of transaction
No. 30.—State Bank & Trust Company, Brunswick, Ga.,
with
and American National Bank of Brunswick, Ga. (14483),
which had
merged Oct. 28, 1960, under charter and title of the latter
bank (14483). The merged bank at date of merger had..
Total assets
In operation
$1,463,817
1
14,071,011
2
15,479,830
To be
operated
3
Summary of Report by Attorney General
The merger of State Bank & Trust Company of Brunswick, into
American National Bank of Brunswick, north of Brunswick, Ga., will
result in a reduction of the competition that has heretofore existed
between the two banks.
State Bank had as of June 30, 1960, assets of $2,005,557, deposits
of $1,682,364 and loans and discounts of $703,101.
State Bank had net operating income in the past year of $3,817.04.
It has not been able to offer a wide range of banking services due to
its limited capital resources. Under these circumstances it does not
appear that the merger of the two banks will have a substantial
adverse effect on competition.
Basis for Comptroller's Approval
State Bank and Trust Company of Brunswick had been recently
organized and was located in the northern section of Brunswick. It
had experienced little growth and was handicapped by a low credit
potential. While the merging banks were in direct competition, in
view of their respective sizes it was concluded that the merger would
not have an appreciable effect on competition in the area.
82
HEPOftT
OF THE COMPTROLLER OF THE CURRENCY
Description of Each Consolidation, Merger and Purchase and Sale
Transaction Approved by the Comptroller of the Currency, May 13Dec. 31,1960—Continued
Banking offices
Name of bank and type of transaction
No. 31—The Dowagiac National Bank, Dowagiac, Mich.
(10073), with
,
was purchased Oct. 29, 1960, by First National Bank of
Niles, Mich. (13753), which had
After the purchase was effected the receiving bank h a d —
Total assets
In operation
$5,197,869
1
22,808,000
27,111,000
3
To be
operated
4
Summary of Report by Attorney General
The combined banks would have a large percentage of the commercial banking resources in the relevant geographic area, approximately 61.9 percent of loans and 60.6 percent of deposits. However,
because of the limited population of Dowagiac, Mich, (6,500), the
selling bank's only site of operation, the proposed consolidation
would not appear to have a substantial adverse effect on competition
or contribute to a tendency to monopoly and would make available
to this community banking services not heretofore available.
Basis for Comptroller's Approval
The First National Bank of Niles with its larger resources and
more aggressive management could offer expanded banking service
to the small community of Dowagiac.
Description of Each Consolidation, Merger and Purchase and Sale
Transaction Approved by the Comptroller of the Currency, May 13Dec. 31, 1960—Continued
Banking offices
Name of bank and type of transaction
No. 32—Newburgh State Bank, Newburgh, Ind., with
and Boonville National Bank, Boonville, Ind. (14218),
which had
...
consolidated Oct. 31, 1960, under charter of the latter
bank (14218), and title "Warrick National Bank of
Boonville." The consolidated bank at date of consolidation had.
Total assets
In operation
$1,803,760
1
5,960,728
1
7,764,488
To be
operated
2
Summary of Report by Attorney General
Since Newburgh State Bank is the only bank in that town, and
since there appears to be little competition between Newburgh State
and Boonville National, the competitive banking situation in Newburgh will not be materially changed if Newburgh State consolidates
83
HEPOftT
OF THE COMPTROLLER OF THE CURRENCY
with Boonville National. Nor does it appear that Boonville National's competitive position vis-a-vis the other bank in Boonville
and the other banks in the county will be significantly altered to the
detriment of competition. While the consolidation will eliminate
Newburgh State Bank as an independent competitive factor in the
banking business in Warrick County, this does not appear to be too
significant in the context of the banking resources available to the
county from banks located in the county and in Evansville and in
view of the fact that Newburgh has a population of 1,422 and Boonville a population of 6,109.
Basis for Comptroller's Approval
The increased industrialization occurring in the Newburgh area
required the expanded services and increased credit potential which
the consolidated bank could offer but which could not be met by the
Newburgh State Bank. Management policies of the Newburgh State
Bank were being determined by a representative of its holding company affiliate who was without banking experience. While Newburgh
is within the trade area of Boonville National Bank, the relative
size of the banks, the distances between them, and the proximity to
Evansville, indicate that direct competition was very small.
Description of Each Consolidation, Merger and Purchase and Sale
Transaction Approved by the Comptroller of the Currency, May 13Dec. 31, 1960—Continued
Banking offices
Name of bank and type of transaction
Total assets
No. 33—The Peoples National Bank of Bedford, Va. (11328),
with
:
and The First National Exchange Bank of Roanoke, Va.
(2737), which had
merged Oct. 31,1960, under charter and title of the latter
bank (2737). The merged bank at date of merger had..
$9,606,280
1
117,783,927
5
In operation
126,926,004
To be
operated
6
Summary of Report by Attorney General
While present competition between the merging banks is small, an
increase may be expected. First National is the largest bank in
southwest Virginia and has double the IPC deposits and more than
double the loans and discounts of the next largest bank competing
in the combined service areas of the resulting bank. The merger
would increase First National's share of this market's IPC deposits
by 3 percent (from 28.02 to 31.00 percent) and loans and discounts
by 2 percent (from 30.57 to 32.56 percent). The effect would be to
adversely affect competition by eliminating actual and, more important, potential competition between the two banks, and increasing
First National's dominance in southwest Virginia, particularly in the
area west of Lynchburg.
84
HEPOftT
OF THE COMPTROLLER OF THE
CURRENCY
Basis for Comptroller's Approval
Bedford lies 29 miles east of Roanoke. This area has experienced
an expansion of industry and population for the past 10 years which
is continuing. Expanded services and credit potential were needed
in Bedford and throughout the intervening area between Bedford
and Roanoke. Because of the distance between the merging banks,
there was little if any direct competition between them.
With regard to competition within the southwestern area of Virginia, the Peoples National Bank of Bedford was not large enough to
be a material factor in regional competition, and the increase in size of
First National Exchange Bank would be too small to be significant.
Description of Each Consolidation, Merger and Purchase and Sale
Transaction Approved by the Comptroller of the Currency, May 13Dec. 31, 1960—Continued
Banking offices
Name of bank and type of transaction
No. 34—'The Citizens National Bank of Hollidaysburg, Pa.
(6874), with
and The First National Bank of Altoona, Pa. (247), which
had
merged Oct. 31,1960, under charter and title of the latter
bank (247). The merged bank at date of merger had___
Total assets
In operation
$2,950,760
1
27,703,046
5
30,653,806
To be
operated
6
Summary of Report by Attorney General
On the facts the merging banks may be potential, if not actual,
competitors, however the extent of such competition would not
appear to be too great. Its elimination by merger would not appear
to be too significant from a competitive standpoint since Citizens
National had deposits of only $2.4 million, and the area is not considered to be one of tremendous potential.
The proposed merger will introduce into Hollidaysburg, Altoona
National, a substantially larger bank than the lone remaining commercial bank in that community and would thus create an environment wherein Hollidaysburg Trust may have greater difficulty
competing. It is noted that Altoona Central Bank and Trust, the
largest commercial bank in Blair County, is the result of a recent
merger of Altoona Central and Altoona Trust and the proposed
merger may have been prompted by the earlier consolidation. While
both would constitute steps in the direction of commercial banking
concentration in the Blair County market area, an area somewhat
remote from the favorable competitive influence of banks in a larger
metropolitan area, a trend toward monopoly occasioned by the
proposed merger alone does not appear to be pronounced.
Basis for Comptroller's Approval
By this merger the management of the resulting bank would be
improved, better banking service would be made available in Hollidaysburg, and there would be no adverse effect upon competition.
85HEPOftTOF THE COMPTROLLER OF THE CURRENCY
Description of Each Consolidation, Merger and Purchase and Sale
Transaction Approved by the Comptroller of the Currency, May 13Dec. 31, 1960—Continued
Banking offices
Name of bank and type of transaction
Total assets
No. 35—The National Bank of Catasauqua, Pa. (1411), with.,
and The First National Bank of Allentown, Pa. (373),
which had
consolidated Nov. 4, 1960, under charter and title of the
latter bank (373). The consolidated bank at date of
consolidation had
$21,758,687
1
108,318,498
4
In operation
130,077,185
To be
operated
5
Summary of Report by Attorney General
The field of competition for the consolidated bank is probably
primarily local in character and any direct substantial competitive
effect on the commercial banks outside of Allentown such as in
Bethlehem or Northampton would appear to be unlikely in view
of the size of Catasauqua National. ^ The applicants state that Catasauqua National is presently in limited competition with Coplay
National Bank, Cement National Bank of Northampton and the
Egypt-Schnecksville Bank; however, the competition would not appear
to be substantial. Thus, the adverse competitive effects which would
result from the proposed consolidation stem from the increase in the
dominant position of First National in the Allentown trade area and
Catasauqua National's elimination as an independent entity.
The consolidated bank's share of the total deposits in the trade area
would be about 45 percent, a position of substantial dominance. In
the city of Allentown its position would be even more dominant
since after the consolidation it may have as much as 65 percent.
Thus the consolidation will result in adding to the already dominant
position of First National in Allentown and the trade area surrounding Allentown with the probable adverse competitive effects.
Basis for Comptroller's Approval
The Lehigh Valley in which these 2 banks were located is an integrated industrial area with a population approximating 500,000.
It has three cities, Allentown, Bethlehem and Easton and numerous
small towns in the suburban areas. Catasauqua is in effect a suburb
of Allentown. However, the First National Bank of Allentown
operated no branches in Catasauqua. The consolidation of these two
banks would eliminate one of eight competing banks in the area if
Bethlehem were not included within the competitive area, and one of
ten banks including Bethlehem in the competitive area. The combined institution would have approximately 31 percent of the total
deposits in the service area including Bethlehem.
It is clear that there would be no important adverse effect upon
competition.
* All the banking factors were favorable, and it was concluded that
this consolidation would be in the public interest.
86
HEPOftT
OF THE COMPTROLLER OF THE
CURRENCY
Description of Each Consolidation, Merger and Purchase and Sale
Transaction Approved by the Comptroller of the Currency, May 13Dec. 31, 1960—Continued
Banking offices
Name of bank and type of transaction
No. 36—Commonwealth Trust Company, Union City, N.J.,
with
and Hudson County National Bank, Jersey City, N.J.
(1182), which had
consolidated Nov. 4, 1960, under charter and title of the
latter bank (1182). The consolidated bank at date of
consolidation had
Total assets
In operation
$55,056,989
5
120,332,114
8
173,997,577
To be
operated
13
Summary of Report by Attorney General
On the basis of the information furnished in the application papers
it would appear that various offices of the consolidating banks are
located sufficiently close together to provide substantial competition
between them and that such competition will be eliminated by the
consolidation. Further, the consolidation will increase the position
of Hudson County National from fourth to second place among commercial banks in the competitive banking area and considerably ahead
of the third and fourth place contenders, but not sufficient to tend
towards a monopoly. In addition, the consolidation will increase
the dominance of the four large Jersey City banks in the general
competitive area to almost 80 percent of the commercial bank business
therein. Finally, it is to be noted that Hudson County National
presently controls Commonwealth Trust through affiliated holdings,
which may mean that competition has already been eliminated and
the above-described increased position has already been achieved.
Certain facts, however, indicate that Commonwealth Trust has
remained independent and competitive despite this control.
Basis for Comptroller's Approval
The Hudson County National Bank of Jersey City, N.J., was the
fourth largest bank in Hudson County. The Commonwealth Trust
Company was the sixth in size in Hudson County. Hudson CountyNational Bank operated no offices in Union City, and Commonwealth
Trust Company operated no offices in Jersey City. The consolidated
bank through its increased size would be able to render more adequate
banking service to both cities. Through this consolidation adequacy
of capital structure would be improved and management would be
strengthened. The banks had been previously affiliated as Hudson
County National Bank was the largest stockholder, and together with
its own largest stockholder, owned a majority interest in Commonwealth Trust Company.
87HEPOftTOF THE COMPTROLLER OF THE CURRENCY
Description of Each Consolidation, Merger and Purchase and Sale
Transaction Approved by the Comptroller of the Currency, May 13Dec. 31, 1960—Continued
Banking offices
Name of bank and type of transaction
Total assets
No. 37—Colonial Trust Company, New York, N.Y., with
The Queens National Bank of New York, Springfield
Gardens, N . Y . (13149), with
and The Meadow Brook National Bank of Nassau
County, West Hempstead, N . Y . (7703), which had
consolidated Nov. 10, 1960, under the charter of the lastnamed bank (7703), and title "The Meadow Brook
National Bank." The consolidated bank at date of
consolidation had„_
$80,844,933
In operation
To be
operated
28,946,704
445, 560,670
556,414,377
52
Summary of Report by Attorney General
Meadow Brook National Bank is the second largest bank in Nassau
County, operating 44 branches throughout this area, and accounting
for approximately 25 percent of the area's commercial bank deposits.
The bank's business is primarily "retail" in nature. Meadow Brook
has been a party to 14 mergers since 1950. Colonial Trust Company
operates three banking offices in Manhattan, one in Brooklyn and
one in Queens. It is one of the smallest New York City banks,
accounting for only 0.3 percent of total New York City commercial
bank deposits. Colonial's business is primarily "wholesale" in nature.
There is little presently existing competition between the two
banks and the consolidation should not adversely affect their smaller
competitors. Although the consolidation would eliminate Colonial
as an independent competitive factor, this would appear to be offset
by the increased competition which the consolidated bank could be
expected to offer to the presently existing New York City banks.
For the foregoing reasons we do not believe that the consolidation
of Meadow Brook and Colonial Trust would have substantial adverse
competitive effects.
Queens National Bank operates five branches within its primary
service area within the southeastern portion of Queens, immediately
adjoining Nassau County. In most sections of this service area
Queens National operates the only commercial banking offices.
Queens National's business is primarily "retail" in nature and is similar
to that of Meadow Brook.
The consolidation of Meadow Brook and Queens would eliminate
a small amount of existing competition between the two institutions
and would also eliminate potential competition since one of Colonial's
branches is located in Queens National's service area. Queens
National has been a successful competitor and has sharply increased
its business and earnings in recent years. Its existence as an independent competitive factor would of course be eliminated by the
proposed consolidation. This situation differs from the proposed
consolidation with Colonial which would permit Meadow Brook to
enter a service ("wholesale" banking) and a geographic (Manhattan)
area which is presently dominated by much larger competitors. In
88
HEPOftT
OF THE COMPTROLLER OF THE
CURRENCY
contrast, the proposed consolidation with Queens National would
merely enlarge the geographic area in which Meadow Brook is already
a dominant factor.
For the foregoing reasons we believe that the consolidation of
Meadow Brook and Queens National would have adverse competitive
effects.
JBasis for Comptroller's Approval
Recent legislation in New York State brought Nassau and Westchester Counties within the banking area of the City of New York by
permitting the establishment of branches of New York City banks
in those counties and vice versa. This was a consolidation of a bank
in Nassau County with two banks in New York City, one in Manhattan and one in Queens, the latter being by far the smallest of the
three. As a result of the consolidation the continuing institution
would have its main office in Queens with branch offices in Manhattan, Queens, and Nassau. The consolidated bank would have a
foreign department, a corporate trust department, expanded credit
potential, expanded services, and the ability to compete more
effectively with the larger New York City banks.
The primary competitive areas of the three banks did not overlap
except for one office of Colonial Trust Company which was 2){ miles
from an office of Queens National Bank of New York. Therefore,
direct competition between the banks was very slight. The consolidation would not significantly affect the competitive situation either in
New York City or in Nassau County. There was little if any competition between Meadow Brook and Queens and thus no significant
competition was eliminated. Obviously the geographic area in which
the consolidated bank operated would be expanded over that in
which Meadow Brook had previously operated, but to the advantage
of the banking public.
Description of Each Consolidation, Merger and Purchase and Sale
Transaction Approved by the Comptroller of the Currency, May 13Dec. 31, 1960—Continued
Banking offices
Name of bank and type of transaction
No. 38—Woodbury Trust Company, Woodbury, N.J., with—
and The First National Bank and Trust Company of
Woodbury, N.J. (1199), which had
consolidated Nov. 10, 1960, under charter of the latter
bank (1199), and title "First County National Bank
and Trust Company, Woodbury." The consolidated
bank at date of consolidation had
Total assets
In operation
$6,801,401
2
13,978,170
1
20,759,030
To be
operated
3
Summary of Report by Attorney General
It would appear that substantial competition with respect to deposits and loans would be eliminated between the two banks if the
proposed consolidation should be approved. It would also appear
that the dominant position of First National over the other banks in
89HEPOftTOF THE COMPTROLLER OF THE CURRENCY
the area would be increased somewhat by the consolidation to almost
40 percent of deposits and to 36 percent of loans. However, most of
these competing banks, and more specifically First National, undoubtedly receive considerable competition from Philadelphia and
Camden banks in both their commercial and trust businesses. These
two cities are some 10 miles away from Woodbury.
At this time the Department does not have sufficient information
to determine to what extent the Philadelphia and Camden banks are
actually competing in the Woodbury banking areas. We are merely
pointing out this competitive factor as one which might offset the
obvious lessening of competition and increased dominance effected
by such a consolidation with respect to the local area.
Basis for Comptroller's Approval
It was anticipated that this consolidation would result in an improvement in condition, management, and future earnings prospects
of the consolidated bank over those of the constituent banks.
Within a radius of 5 miles there were 11 other banking offices including a branch of a Camden, N.J., bank. In addition, Woodbury
is in the competitive area of both Philadelphia, Pa., and Camden, N.J.
Description of Each Consolidation, Merger and Purchase and Sale
Transaction Approved by the Comptroller of the Currency, May 13Dec. 31, 1960—Continued
Banking offices
Name of bank and type of transaction
No. 39—Lincoln Bank and Trust Company, Louisville, Ky.,
with
and The First National Bank of Louisville, Ky. (109),
which had
merged Nov. 11, 1960, under charter of the latter bank
(109), and title "First National Lincoln Bank of Louisville." The merged bank at date of merger had
Total assets
In operation
$87,372,987
6
173,890,953
18
261,226,998
To be
operated
24
Summary of Report by Attorney General
The Attorney General has reported to the Comptroller of the
Currency that the proposed merger of the Lincoln Bank and Trust
Company, Louisville, Ky., and the First National Bank of Louisville,
Louisville, Ky., would have seriously adverse competitive effects and
would substantially reduce competition and foster a tendency to
monopoly in banking in Louisville, Ky.
First National Bank is the second largest of the nine banks in
Louisville, having, with its trust affiliate, about 21.7 percent of the
city's banking assets. The present leading bank in Louisville has
about 32.2 percent. Merger of First National Bank with Lincoln
Bank would produce a bank substantially equivalent to the present
leader having 32.1 percent of the city's banking resources. The 2
leading banks would then have 64.3 percent of Louisville's bank
assets and half of the city's 60 banking offices. The two banks appear
90
HEPOftT
OF THE COMPTROLLER OF THE
CURRENCY
to be in substantial competition with each other, both in location of
offices and in services offered. Each of the six offices of Lincoln Bank
is between several blocks and 1.5 miles from an office of First National
Bank, and two offices of the total operated by the two banks will
probably be closed if the merger is effected. The deposit and loan
services of the two institutions are likewise very similar in character,
as are the trust services offered by Lincoln Bank and the trust affiliate
of First National Bank, Kentucky Trust Company. There are a
number of common borrowers and there have been numerous occasions
over the years in which lending activities have been on a competitive
basis.
There is a continuing merger trend in the Louisville area. Since
1950 First National Bank has made three acquisitions, the largest
bank in the city has acquired two banks and the third largest bank
has acquired two. There is presently pending an application by the
largest bank for consent to acquire a competitor, the combined assets
resulting from this proposed merger being over a third of the city's
total. The report of the Attorney General on this merger concludes
that it also would have a seriously adverse effect on competition.
Should both proposed mergers be allowed, about two-thirds of
Louisville's banking assets would be held by the two largest of the
seven remaining banks.
It therefore appears as a reasonable probability that, were this
proposed merger between First National Bank and Lincoln Bank to
be approved, the concentration in Louisville banking would be substantially increased, and that there would be a seriously adverse effect
on competition and a tendency toward monopoly.
Basis for Comptroller's Approval
All the banking factors involved in this merger were favorable.
The merged bank would be adequately capitalized, well-managed,
and would have improved future earnings prospects.
There was no basis for a conclusion that the adverse effect upon
competition flowing from the merger would reach significant proportions, nor that the merger would result in any tendency toward
monopoly.
By this consolidation there was eliminated 1 of 21 competitors in
Louisville and the surrounding Metropolitan Area; and there resulted
an increase in size of one competitor from approximately 19 to 28
percent of total resources among commercial banks. The competitor
eliminated had less than 10 percent of the total banking resources in
the area. After the merger the public would continue to be served
by an adequate number of commercial banks well able to compete
with each other and to serve the commercial banking needs of the
Louisville area. There was considerable competition also for deposits
from 17 savings and loan associations having resources in excess of
$400 million.
Under Public Law 86-463 we are required to consider the effect
upon competition, so that there was necessarily involved in this case
a consideration of regional competition. In this respect the Louis
91
HEPOftT
OF THE COMPTROLLER OF THE CURRENCY
ville banks are in competition with banksJin Nashville, Cincinnati, and
Indianapolis, all of which have banks larger than any in Louisville.
The increased size of the merged bank would enable it to better compete for its share of regional business and thus would have a beneficial
effect upon regional competition.
It was clear that there would be no tendency toward monopoly.
In Transamerica Corp. v. Board of Governors (C.A.3, 1953), 206
F. 2d 163, 169, the Court, in dealing with the question of what
constitutes a tendency toward monopoly stated:
" A monopoly involves the power to raise prices or to exclude competition when
the monopolist desires to do so. Obviously, Under section 7 it was not necessary
for the Board to find that Transamerica has actually achieved monopoly power
but merely that the stock acquisitions under attack have brought it measurably
closer to that end."
To a like effect see the report of the Attorney General's National
Committee to Study the Antitrust Laws, p. 124.
Certainly this merger did not move the merged bank "measurably
closer" to the monopoly power of being able to raise prices or to exclude
competition when and if it should desire to do so.
The merged institution would be better able to serve the convenience
and needs of the City of Louisville and the State of Kentucky. Louisville is the financial center of Kentucky and is a large city in which
the banks have failed to keep pace with the growth of their customers.
The Metropolitan Area of Louisville has a population in excess of
700,000, and includes Jefferson County, Ky., as well as New Albany
and Jeffersonville, Ind. It is a growing industrial area and needs
some large banks to adequately service its needs. Larger banks are
also needed to more adequately service the banking needs of large
industries expanding into the State of Kentucky.
Description of Each Consolidation, Merger and Purchase and Sale
Transaction Approved by the Comptroller of the Currency, May 13Dec. 31, 1960—Continued
Banking offices
Name of bank and type of transaction
No. 40—The Geneva Savings and Trust Company, Geneva,
Ohio, with
and The National Bank of Ashtabula, Ohio (6075), which
had
consolidated Nov. 30, 1960, under charter of the latter
bank (5075), and under the title " T h e Northeastern
Ohio National Bank of Ashtabula, Ohio." The consolidated bank at date of consolidation had- _
Total assets
In operation
$10,214,824
2
9,447,914
2
19,811,693
To be
operated
4
Summary of Report by Attorney General
The consolidation of The National Bank of Ashtabula and The
Geneva Savings and Trust Company, both in Ashtabula County,
Ohio, would reduce competition in commercial banking in Ashtabula
92
HEPOftT
OF THE COMPTROLLER OF THE CURRENCY
County, since the banks provide similar banking services within overlapping geographical service areas. Each bank now has about 12 percent of total assets of commercial banks located in the county. The
proposed consolidation would also probably preclude potential increased competition between the two banks in view of the fact that the
general area is becoming more tightly knit.
Basis for Comptroller's Approval
The consolidation of these two banks would have the effect of
creating a combined institution with strengthened management.
Geneva is 10 miles west of Ashtabula and while the service areas
of the consolidating banks overlapped slightly it appeared that the
direct competition had been very slight. The consolidated bank
would remain only the second largest bank in Ashtabula and there
would remain eight other banking institutions in the area.
Description of Each Consolidation, Merger and Purchase and Sale
Transaction Approved by the Comptroller of the Currency, May 13Dec. 31, 1960—Continued
Banking offices
Name of bank and type of transaction
Total assets
No. 41—Kaspar American State Bank, Chicago, 111., with
and Central National Bank in Chicago, 111. (14362),
which had
merged Nov. 30,1960, under charter and title of the latter
bank (14362). The merged bank at date of merger had—
$5,659,552
1
106,068,276
1
In operation
111,727,828
To be
operated
X
Summary of Report by Attorney General
The Kaspar American State Bank, Chicago, 111., proposes to merge
with the Central National Bank in Chicago, Chicago, 111. The
Central National Bank in Chicago had, as of June 30, 1960, total
deposits of $94,871,049, and total loans and discounts of $58,240,476.
The Kaspar American State Bank as of that time had total deposits
of $6,155,793, with total loans and discounts of $658,432.
The Kaspar American Bank presently has outstanding liabilities
of $382,175, or deferred certificates issued for deposit liabilities at the
time of its reorganization during the early 1930's. It has paid no
dividends since this reorganization, has had net earnings during the
5-year period ending December 31, 1959, of only $28,854, and is
currently reflecting an operating loss. In view of this fact and, since
there are presently four other banks serving the same section of
Chicago, it does not appear that the proposed merger, if consummated,
would have a substantial adverse effect on competition.
REPORT OF THE COMPTROLLER OF THE CURRENCY
93
Basis for Comptroller's Approval
Kaspar American State Bank was located in a depressed area with
declining business, and it had no future growth potential. Its earnings
had been extremely poor. Further, it had liabilities arising out of
deferred certificates issued in times of depression for deposit liabilities,
in an amount exceeding its surplus and undivided profits. The merged
bank proposes to increase its capital by approximately $350,000, and
the capital structure of the merged bank will be adequate.
Description of Each Consolidation, Merger and Purchase and Sale
Transaction Approved by the Comptroller of the Currency, May 13Dec. 31, 1960—Continued
Banking oflaces
Name of bank and type of transaction
Total assets
No. 42—Studio City Bank, Studio City, Los Angeles, Calif.,
with
and City National Bank of Beverly Hills, Calif. (14695),
which had
merged Nov. 30, 1960, under charter and title of the latter
bank (14695). The merged bank at date of merger had—
$5,954,582
1
107,389,969
9
In operation
113,344,550
To be
operated
10
Summary of Report by Attorney General
City National Bank of Beverly Hills, Beverly Hills, Calif., with
deposits of $86,378,673 and loans of $56,542,761 proposes to acquire
Studio City Bank, Los Angeles, Calif., with deposits of $5,526,279
and loans of $2,678,970.
Studio City is a growing area of Los Angeles. At present both the
Bank of America, with deposits of over $10 billion and loans of over
$6 billion, and Security-First National Bank, with deposits of over
$3 billion and loans of over $1% billion, have branches in Studio City
competitive to the merging bank. The charter bank currently has
no branch in the area.
The merger will bring to Studio City a large bank with trust
facilities which may be better able to compete with the branches of
the giant banks than is the present local bank. Competition may
be enhanced rather than restricted by the merger.
It does not appear that the merger will have a substantial adverse
effect on competition or further any tendency toward monopoly.
Basis for Comptroller's Approval
The merger would bring to Studio City, which is already served by
branches of very large banks, a bank substantially larger than the
Studio City Bank, which would be better able to supply the banking
needs of a growing community so as to compete more effectively with
the large bank branches.
598026—61
7
94
HEPOftT
OF THE COMPTROLLER OF THE
CURRENCY
Description of Each Consolidation, Merger and Purchase and Sale
Transaction Approved by the Comptroller of the Currency, May 13Dec. 31, 1960—Continued
Banking offices
Name of bank and type of transaction
No. 43—The Salem National Bank, Salem, N . Y . (7588), with.,
and The Manufacturers National Bank of Troy, N . Y .
(721), which had
merged Nov. 30,1960, under charter and title of the latter
bank (721). The merged bank at date of merger had
Total assets
In operation
$2,325,171
1
62,760,824
8
65,085,455
To be
operated
9
Summary oj Report by Attorney General
The Salem National Bank, Salem, N.Y., is a small rural bank with
deposits of $1,957,878 and loans of $921,246. The Manufacturers
National Bank of Troy, Troy, N.Y., which proposes to acquire it
has no nearby office, its principal office being 46 miles southwest of
Salem. Manufacturers National is one of the Marine Midland
banks. Marine Midland Corporation controls banking assets of
approximately $2.4 billion and has deposits of approximately $2.1
billion.
The merger will bring to Salem a modern bank with trust facilities,
not heretofore available.
Because of distance between the charter and merging bank, no
direct competition will be eliminated by the merger.
Because of the comparatively small size of the Salem National
Bank, its merger with the Manufacturers National Bank of Troy
alone will not substantially increase the latter bank's advantage over
its smaller competitors.
Although the merger will add another bank to the growing Marine
Midland chain, it does not appear that this transaction alone will
have a substantial adverse effect on competition.
Basis for Comptroller's Approval
No successor management was available for the Salem bank.
Salem would benefit from increased credit potential and expanded
services.
95HEPOftTOF THE COMPTROLLER OF THE CURRENCY
Description of Each Consolidation, Merger and Purchase and Sale
Transaction Approved by the Comptroller of the Currency, May 13f Dec. 31, 1960—Continued
Banking offices
Name of bank and type of transaction
Total assets
No. 44—The Mount Kisco National Bank and Trust Company, Mount Kisco, N.Y. (5026), with
and National Bank of Westchester, White Plains, N . Y .
(10525), which had
consolidated Dec. 2, 1960, under charter and title of the
latter bank (10525). The consolidated bank at date of
consolidation had
$26,055,852
1
208,623,293
21
In operation
234,679,144
To be
operated
22
Summary of Report by Attorney General
The banks competing in the service area of the merging bank,
expanding it to reasonable limits in northern Westchester County,
appear to be The Mount Kisco National Bank and Trust Company,
National Bank of Westchester, and County Trust Company.
As of August 31, 1960, the merging bank had deposits of $23,039,000
and loans of $8,567,000. The charter bank had total deposits of
$179,201,000 and loans of $92,939,000, and County Trust Company
had total deposits of $437,348,241.89 and loans and discounts of
$133,037,076.69. Both National Bank of Westchester and County
Trust Company are large banks with numerous offices in Westchester
County, N.Y. In the area affected by the proposed merger the
former has one branch office, the latter three branch offices, and the
merging bank, one branch with an additional branch applied for.
The application for consolidation shows the history of the charter
bank to be principally one of growth by consolidation with existing
local banks, some of whom were competitors, rather than by establishing new offices in new or competitive territories.
If the proposed consolidation or merger is permitted, it will result
in the elimination of the one independent bank in its service area
and increase the tendency to monopoly in the growing communities
in the northern portion of Westchester County.
Basis for Comptroller's Approval
The president of The Mount Kisco National Bank and Trust
Company was 75 years of age and thus there existed a management
problem. Earnings of the bank were low. The earnings of National
Bank of Westchester were average and its management competent.
National Bank of Westchester had an office 3 miles north of Mount
Kisco but in view of the local competition of County Trust Company
and the distance from the head office of National Bank of Westchester
and the relative size of the two banks it was concluded that the
direct competition between them was not material. The branch of
the consolidated bank besides bringing expanded services and credit
potential to Mount Kisco will be in a better position to compete
96
HEPOftT
OF THE COMPTROLLER OF THE CURRENCY
with the County Trust Company branch there. With the enactment
of the New York Omnibus Banking Law Westchester County has been
opened to branches of New York City banks.
Description of Each Consolidation, Merger and Purchase and Sale
Transaction Approved by the Comptroller of the Currency, May 13Dec. 31, 1960—Continued
Banking offices
Name of bank and type of transaction
No. 45—Exchange National Bank in Marietta, Pa. (14276),
with
and The First National Bank of Marietta, Pa. (25), which
had
consolidated Dec. 2,1960, under charter and title of the
latter bank (25). The consolidated bank at date of consolidation had
Total assets
In operation
$1,340,165
1
1,300,394
1
To be
operated
2,640,559
1
Summary of Report by Attorney General
The consolidating banks are stated to be two of the smallest banks
in Lancaster County, Pa. The proposed consolidation would not
appear to have any substantial effect on competition in view of the
fact that the service area includes only 3,500 persons.
Basis for Comptroller's Approval
The earnings of Exchange National Bank in Marietta had been
unsatisfactory and its active managing officer had resigned without
provision for adequate successor management. While the consolidating banks were the only banks operating in Marietta, seven banks
located in the surrounding communities wUl offer competition to the
consolidated bank.
Description of Each Consolidation, Merger and Purchase and Sale
Transaction Approved by the Comptroller of the Currency, May 13Dec. 31, 1960—Continued
Banking offices
Name of bank and type of transaction
No. 46—Peoples Bank of Claypool, Ind., with
and First National Bank of Warsaw, Ind. (14382) which
had
consolidated Dec. 15, 1960, under charter and title of the
latter bank (14382). The consolidated bank at date of
consolidation had
Total assets
In operation
$1,566,530
1
12,199,601
2
13,766,130
To be
operated
3
Summary oj Report by Attorney General
In view of the relatively small size of the banking business conducted
by Peoples Bank, it does not appear that the consolidation in question
will materially strengthen First National's competitive position in
97
HEPOftT
OF THE COMPTROLLER OF THE CURRENCY
Warsaw or Kosciusko County as a whole. And while Peoples Bank
will be eliminated as an independent competitive factor, the competition eliminated does not appear substantial in the context of the
available banking resources in the county and the size of the geographic area affected.
Basis for Comptroller's Approval
This consolidation would bring larger credit potential and more
complete services to Claypool with no adverse effect upon competition.
Description of Each Consolidation, Merger and Purchase and Sale
Transaction Approved by the Comptroller of the Currency, May 13Dec, 31, 1960—Continued
Banking oflaces
Name of bank and type of transaction
Total assets
No. 47—Bank of Middletown, Ky., with
and Liberty National Bank and Trust Company of Louisville, Ky. (14320), which had
merged Dec. 16, 1960, under charter and title of the latter
bank (14320). The merged bank at date of merger had.
$4,131,938
1
127,457,589
17
In operation
131,589,527
To be
operated
18
Summary of Report by Attorney General
The Department of Justice has reported to the Comptroller of the
Currency that the proposed merger of Liberty National Bank and
Trust Company, Louisville, Ky., and Bank of Middletown, Middletown, Ky., would have a detrimental effect on competition in the
suburban area east of Louisville.
Liberty National Bank is the third largest bank in Louisville,
having about 15 percent of the city's banking resources. It is the
second largest bank in terms of branches, having 15 offices with 2
others authorized. The Bank of Middletown is located about 11
miles east of the heart of Louisville. While it is the only bank in
this suburb, there are two Liberty National branches within 3%
miles and a third has been approved which would be about 4 miles
away. The suburban area of Louisville is primarily residential and
agricultural. The structures of the deposit and loan accounts of the
two banks are similar and are characteristic of this type of community; both have loans on farm real estate, residential property,
business and other property, installment loans on automobiles and
other installment loans.
In part, due to a series of mergers among banks in Jefferson County,
in which the cities of Louisville and Middletown are located, during
the past decade, 80 percent of the banking assets in such county have
been concentrated in the three largest banks.
If the merger were to be effected, potential depositors and borrowers
in the suburban area 5 to 12 miles east of Louisville would therefore
have one less choice of a bank with which to do business. The
suburban Louisville area has shown a history of rapid economic
98
HEPOftT
OF THE COMPTROLLER OF THE
CURRENCY
growth, almost doubling in population in the past decade and such
growth is expected to continue. The Bank of Middletown should
benefit from such growth and appears to have the potential of
becoming an even more vigorous competitor of the big Louisville
banks.
There is a strong merger trend in the Louisville area. Since 1950
the leading bank in the county has made two acquisitions; the second
largest bank has made four acquisitions; and the third largest, Liberty
National, has made two acquisitions. At present, the four largest
banks in the county have about 90 percent of the area's banking
assets and the six smallest banks share the remaining 10 percent.
This concentration has been brought about to a considerable extent
by mergers and acquisitions. Although acquisition of any of the
seven smallest banks, such as Bank of Middletown, would not have
a great effect on the percentages presently held by the leaders, these
smaller banks remain as independent economic entities whose continued existence would appear to be desirable from a competitive
standpoint and if Jefferson County banking is not to be consolidated
into competition among three or four banks.
Basis for Comptroller's Approval
Middletown is 12 miles from the head office of Liberty National
Bank and Trust Company and 3){miles from its nearest branch. The
Bank of Middletown because of management and asset problems was
being operated by an officer on loan from Liberty National Bank.
There was very little competition between the two banks and the merger would thus have no adverse effect in this respect. Neither would
the merger have any effect upon competition among the Louisville
banks.
The merger would bring to Middletown expanded services, increased
credit potential, and satisfactory management.
Description of Each Consolidation, Merger and Purchase and Sale
Transaction Approved by the Comptroller of the Currency, May 13Dec. 31, 1960—Continued
Banking offices
Name of bank and type of transaction
Total assets
No. 48—St. James Savings Bank of Baltimore City, Baltimore, Md., with
was purchased Dec. 16,1960, by The First National Bank
of Baltimore, Md. (1413}, which had
After the purchase was effected the receiving bank had. __
$16,055,841
3
344,189,000
359,438,000
18
In operation
To be
operated
21
Summary of Report by Attorney General
The First National Bank of Baltimore, Baltimore, Md., proposes to
purchase the assets and .assume the liabilities of St. James Savings
Bank, Baltimore, Md. First National is a commercial bank with
deposits of $304 million. St. James is a savings bank with deposits
99HEPOftTOF THE COMPTROLLER OF THE CURRENCY
of $14,152,000. Since competition between a commercial bank and a
savings bank is quite limited, the proposal would not appear to have a
substantial adverse effect on competition in banking in the service area.
Basis for Comptroller's Approval
The St. James Savings Bank of Baltimore City had limited growth
potential, but had outstanding management personnel which the First
National Bank of Baltimore desired to employ. There would be no
appreciable effect upon competition.
Description of Each Consolidation, Merger and Purchase and Sale
Transaction Approved by the Comptroller of the Currency, May 13Dec. 31, 1960—Continued
Banking offices
Name of bank and type of transaction
Total assets
No. 49—Citizens Bank of Kirkland, Wash., with
and Peoples National Bank of Washington in Seattle,
Wash. (14394), which had..__
merged Dec. 21, 1960, under charter and title of the latter
bank (14394). The merged bank at date of merger had.
231,093,533
In operation
To be
operated
$2,566,424
233,489,471
28
Summary of Report by Attorney General
The Department of Justice has reported to the Comptroller of the
Currency that the proposed merger of the Peoples National Bank of
Washington in Seattle, Seattle, Wash., and the Citizens Bank of Kirkland, Kirkland, Wash., would not have any substantial adverse effects
on competition.
The Peoples National Bank of Washington operates 27 banking
offices in the State of Washington, 13 of which are located in Seattle.
The bank had total assets of approximately $220 million, deposits of
over $200 million, and outstanding loans and discounts of slightly
over $100 million as of August 24, 1960.
The Citizens Bank of Kirkland was organized in 1954 and operates
a single banking office in Kirkland on the eastern shore of Lake
Washington, across the Lake from northeastern Seattle. As of August
24, 1960, the bank had total assets of slightly less than $2.7 million,
deposits of approximately $2.4 million, and outstanding loans and discounts of almost $1.3 million.
The Peoples National Bank does not operate any banking offices
within the primary service area of the Citizens Bank of Kirkland
or within a 10-mile radius of Kirkland. It does not appear that there
is any substantial actual or potential competition between the Citizens
Bank of Kirkland and any of the Seattle offices of the Peoples National
Bank of Washington on the western side of the Lake.
If the merger is effectuated, the Peoples National Bank of Washington will acquire a small bank in a fast-growing suburban area to the
east of Seattle on the opposite side of Lake Washington where it is not
presently represented and with which it presently competes, if at all,
100
HEPOftT
OF THE COMPTROLLER OF THE CURRENCY
only to a limited extent. There will be no increase in concentration
in the Kirkland area or in the surrounding communities on the eastern
side of Lake Washington. The increase in concentration in the
greater Seattle area will be small and the effects on competition in
Seattle and the surrounding suburban communities will not be
substantial.
Basis for Comptroller's Approval
The merger brought to the suburban community of Kirkland expanded facilities, services, including a trust department, and lending
powers. All the banking factors were favorable. Due to the size of
the merging banks and the distance between their offices it did not
appear that they were in direct competition. Further, the merger did
not alter the position which Peoples National Bank of Washington in
Seattle held in its banking area.
Description of Each Consolidation, Merger and Purchase and Sale
Transaction Approved by the Comptroller of the Currency, May 13Dec. 31, 1960—Continued
Banking offices
Name of bank and type of transaction
No. 60.—Anacostia National Bank of Washington, D.C.
(14550), with
and The National Bank of Washington, D.C. (3425),
which had_
consolidated Dec. 30, 1960, under charter and title of the
latter bank (3425). The consolidated bank at date of
consolidation had
Total assets
In operation
$28,993,792
4
290,593, 792
12
318,173,785
To be
operated
16
Summary of Report by Attorney General
The proposed acquisition of the Anacostia National Bank of Wash"
ington by The National Bank of Washington will mark the third
acquisition in 6 years by The National Bank of other Washington,
D.C., banks. Previous acquisitions have substantially increased the
size of the National Bank, so that it now ranks as the third largest
bank in the entire Metropolitan Washington, D.C., area.
The consolidation will eliminate competition between the 2 banks
involved, reduce to 11 the number of banks operating inside the
District of Columbia, and eliminate the only independent bank in
that part of the District lying east of the Potomac and Anacostia
Rivers. It will increase the number of locations operated by the
National Bank from 12 to 19.
The consolidation will still further concentrate the commercial
banking business in the area held by the three largest banks (about
75 percent as of December 1959) and may tend to increase pressures
for further bank consolidations and acquisitions in the Washington,
D.C., area.
101
HEPOftT OF THE COMPTROLLER OF THE CURRENCY
Basis for Comptroller's Approval
The community of Anacostia is a portion of the District of Columbia
lying east of the Anacostia and Potomac Rivers and has the character
of a suburban area. Due to its somewhat isolated position Anacostia
National Bank of Washington did not come into direct competition
with The National Bank of Washington, although Anacostia is in the
latter's general banking area. The National Bank of Washington
was the third largest bank in the District and the resulting bank's
position remains unchanged. The resulting bank has 17.7 percent of
the District of Columbia's deposits. The consolidation brought to
the Anacostia area expanded services, trust services and a greater
credit potential to aid in the development of this growing area.
Description of Each Consolidation, Merger and Purchase and Sale
Transaction Approved by the Comptroller of the Currency, May 13Dec. 31, 1960—Continued
Banking offices
Name of bank and type of transaction
No. 51—Peoples Bank and Trust Company, Hammonton,
N.J., with
—
_
and The Boardwalk National Bank of Atlantic City, N.J.
(8800), which had
merged Dec. 30, 1960, under charter and title of the latter
bank (8800). The merged bank at date of merger had._
Total assets
In operation
$12,264,519
2
116,030,175
16
128,294,695
To be
operated
18
Summary of Report by Attorney General
It would appear that substantial competition with respect to
deposits and loans would be eliminated between the two banks if the
proposed consolidation should be approved. The close connection
presently existing between the two banks may have already reduced
that competition. It would also appear that the already dominant
position of Boardwalk National over the other banks in the service
area of the combined banks would be increased to some 50 percent of
all deposits and to almost 54 percent of loans and the position of
dominance of Boardwalk National in the service area of the merging
bank would be even more pronounced. In this particular, it is important to note that Boardwalk National is almost three times larger
in terms of its resources and deposits than the second largest bank in
the area and is six times larger than the number three bank. All
remaining competitors, while substantial and significant in their
respective local municipalities, nevertheless appear to be too small
to compete with the growing power of Boardwalk National.
If approved, the proposed merger will be the fourth in a series of
mergers starting in 1955. Thus, the tendency of Boardwalk National
toward achieving a monopoly position in commercial banking in the
appropriate banking service area will be considerably strengthened
by this merger.
102
HEPOftT OF THE COMPTROLLER OF THE
CURRENCY
Basis for Comptroller's Approval
The Boardwalk National Bank of Atlantic City was located in a
resort city subject to seasonal and cyclical fluctuations. Peoples
Bank and Trust Company was located in Hammonton which is in the
south central part of New Jersey, 31 miles northeast of Atlantic City.
It is primarily an agricultural area with some light industry. The
Boardwalk National Bank of Atlantic City desired to diversify the
character of its business and also to apply its resources to the development of the immediate interior.
The nearest branch of The Boardwalk National Bank of Atlantic
City to Hammonton was 14 miles away. The two banks were closely
connected through overlapping ownership. In view of the size of
the bank, the common ownership, the distance between offices and
the communities served by the two banks, it appeared that competition
between the merging institutions was very slight.
It was believed that diversification by the Boardwalk National
Bank and its expansion of area of operations would strengthen the
bank and the banking system.
Description of Each Consolidation, Merger and Purchase and Sale
Transaction Approved by the Comptroller of the Currency, May 13Dec. 31, 1960—Continued
Banking offices
Name of bank and type of transaction
Total assets
No. 52—The First National Bank of Winston-Salem, N.C.
(14147), with
and North Carolina National Bank, Charlotte, N.C.
(13761), which had
merged Dec. 30,1960, under charter and title of the latter
buik (13761). The merged bank at date of merger had_.
$26,960,073
3
499,793,147
48
In operation
525,023,551
To be
operated
51
Summary of Report by Attorney General
North Carolina National Bank, the second largest bank in the
State, operates 45 offices across the State and has 3 more under construction. It has total assets of $493,336,000, total loans and discounts of $244,347,000, total deposits of $440,299,000, and total
capital accounts of $39,613,000.
The First National Bank of Winston-Salem operates three permanent offices and two seasonal offices in the tobacco markets in that
city. This bank has had an excellent earnings record and steady
growth. Its major lending activity, despite its comparatively small
size as compared with the State's leading banks, is in commercial and
industrial loans. It has total assets of $26,843,000, total loans and
discounts of $14,042,000, total deposits of $23,524,000, and total
capital accounts of $2,347,000.
The merger would be another step in a program of growth by acquisition which has marked North Carolina National and its predecessor companies in the past few years, as well as other large banks
103
HEPOftT
OF THE COMPTROLLER OF THE CURRENCY
in North Carolina. Since North Carolina National was formed by
merger earlier this year, it has already made one acquisition, adding
four offices and $13,709,000 in deposits.
Basis jor Comptroller's Approval
North Carolina National Bank is the product of the merger of
Security National Bank of Greensboro, N.C., and American-Commercial Bank, Charlotte, N.C. Its main office is in Charlotte, N.C.,
and it had no offices in Winston-Salem. Winston-Salem is located
75 miles from Charlotte and the nearest branch of North Carolina
National Bank is in High Point, 18 miles from Winston-Salem.
Because of Statewide branch banking in North Carolina there exist
large banks operating on a Statewide basis. Wachovia Bank &
Trust Company with its main office in Winston-Salem is the largest
bank and North Carolina National is the second largest. This merger
would enable the North Carolina Bank to establish for the first time
branches in Winston-Salem. No direct competition would be
eliminated.
Description of Each Consolidation, Merger and Purchase and Sale
Transaction Approved by the Comptroller of the Currency, May 13Dec. 31, 1960—Continued
Banking offices
Name of bank and type of transaction
Total assets
No. 53—The Lorain Banking Company, Lorain, Ohio, with
and The National Bank of Lorain, Ohio (14290), which had.
consolidated Dec. 31,1960, under charter of the latter bank
(14290), and title " T h e Lorain National Bank." The
consolidated bank at date of consolidation had
$27,410,336
12,723,637
In operation
40,133,973
To be
operated
5
1
6
Summaryjof Report by Attorney General
The consolidation of the National Bank of Lorain and The Lorain
Banking Company, both in Lorain, Ohio, would reduce competition in
commercial banking in Lorain by reducing the number of banks
with their head offices in Lorain from four to three, and combining
two banks which are now substantial factors in the same competitive
area. The proposed consolidation would also give the merged bank
approximately 50 percent of the total assets and deposits of the banks
with head offices in Lorain. Furthermore, it would also permanently
foreclose future potential competition between two healthy banks.
Basis jor Comptroller's Approval
Lorain is situated on Lake Erie, 27 miles west of Cleveland, Ohio,
and is an industrial community with a population of 68,000. The
area has experienced considerable growth in the past decade and
further growth and industrial development is anticipated. An enlarged banking unit with greater credit potential appeared to be in
the public interest to serve the expanding needs of this community.
104
HEPOftT
OF THE COMPTROLLER OF THE
CURRENCY
Adequate banking competition would continue in Lorain. There
would remain there three banks plus a branch of the very large
Cleveland Trust Company.
Description of Each Consolidation, Merger and Purchase and Sale
Transaction Approved by the Comptroller of the Currency, May 13Dec. 31, 1960—Continued
Banking offices
Name of bank and type of transaction
No. 54—1The Huguenot National Bank of New Paltz, N . Y .
(1186), with
and The State of New York National Bank, Kingston,
N . Y . (955), which had
consolidated Dec. 31, 1960, under charter and title of the
latter bank (955). The consolidated bank at date of
consolidation had
Total assets
In operation
$5,502,547
1
18,444,915
3
23,947,461
To be
operated
4
Summary of Report by Attorney General
The State of New York National Bank is at the present time the
second largest of the three commercial banks in the Kingston area.
The Huguenot National Bank of New Paltz is the only bank in the
community. Because of the fact that these banks are located in
different trade areas, no presently existing competition would apparently be eliminated by their consolidation. Furthermore, the consolidation would not appear to substantially increase any advantages
of the State of New York National Bank over its competitors, nor
would it further any tendency toward monopoly. For these reasons,
it is our conclusion that this consolidation would have no substantial
adverse effect on competition.
Basis for Comptroller's Approval
The consolidation of these two banks would result in improved
management. The competitive areas of the consolidating banks did
not overlap and in view of the relative size of both banks and the
distance between them, direct competition appeared to be very slight.
The expanded resources of the consolidated bank brought greater
credit potential and services to the New Paltz area, which is growing
rapidly because of the New York State Throughway.
105HEPOftTOF THE COMPTROLLER OF THE CURRENCY
Description of Each Consolidation, Merger and Purchase and Sale
Transaction Approved by the Comptroller of the Currency, May 13Dec. 31, 1960—Continued
Banking oflaces
Name of bank and type of transaction
No. 55—New England National Bank of Boston, Mass.
(14915), with
and The Merchants National Bank of Boston, Mass. (475),
which had
consolidated Dec. 31, 1960, under charter of the latter
bank (475), and title " N e w England Merchants National Bank of Boston." The consolidated bank at date
of consolidation had
Total assets
In operation
$78,915,820
2
273,495,548
6
352,411,368
To be
operated
8
Summary of Report by Attorney General
The Merchants National Bank of Boston, Boston, Mass., and the
New England National Bank of Boston, Boston Mass., propose to
consolidate their banking services. It would appear that if this
consolidation is effected substantial competition for deposits and
loans will be eliminated as between the two banks. Furthermore,
competition for fiduciary accounts will also be foreclosed.
Nevertheless, the resulting bank will still remain in fourth position
within the banking service area considerably behind three other
large Boston banks and may be in a better position to compete with
the larger banks.
Basis for Comptroller's Approval
The banking factors were all favorable.
This consolidation combined the fourth and seventh largest banks
in Boston. These two banks were in direct competition with each
other, but the competitive area included the Greater Boston Metropolitan area with a population of 2,500,000. The combined bank
would have less than 10 percent of the deposits in the Boston banks
even excluding the savings banks. It would remain less that one-fifth
the size of the First National Bank of Boston, but by the consolidation
would be enabled to better compete with the larger banks.
106
HEPOftT
OF THE COMPTROLLER OF THE
CURRENCY
Description of Each Consolidation, Merger and Purchase and Sale
Transaction Approved by the Comptroller of the Currency, May 13Dec. 31, 1960—Continued
Banking offices
Name of bank and type of transaction
No. 56—The National Bank of Wrentham, Mass. (1085), with,
and South Shore National Bank of Quincy, Mass. (14798),
which had
merged Dec. 31, 1960, under charter and title of the latter
bank (14798). The merged bank at date of merger had.
Total assets
In operation
$1,804,187
1
57,221,628
11
59,025,815
To be
operated
12
Summary of Report by Attorney General
The National Bank of Wrentham is a small bank operating within
a limited service area located at a considerable distance from the
area serviced by South Shore National Bank, and is not in any substantial competition with that bank. Therefore as between the two
banks no substantial, if any, competition will be eliminated by the
merger. Nor will the strength of the applicant bank in its own
service area be significantly increased by the addition of the merging
bank since Norfolk County Trust seems to have a clearly dominant
position in Norfolk County.
Basis for Comptroller's Approval
The managing officer of the Wrentham Bank had reached retirement age with no provision for succession. The merger introduced
into Wrentham expanded services, and a sounder and more aggressive
bank management. Due to the distance between the merging banks,
their service areas did not overlap and there was no competition
between them.
APPENDIX
CONTENTS
TABLES
No.
No.
No.
No.
No.
No.
No.
No.
No.
No.
No.
No.
No.
No.
No.
No.
No.
No.
No.
No.
No.
No.
No.
No.
Page
1. Comptrollers and Deputy Comptrollers of the Currency since
1863
2. Total number of national banks organized, consolidated and
merged under act Nov. 7, 1918, as amended, insolvent, in
voluntary liquidation, converted into and merged or consolidated with State banks under Public Law 706 (12 U.S.C. 214)
and in existence on Dec. 31, 1960
3. National banks chartered during the year ended Dec. 31, 1960__
4. National banks chartered which were conversions of State banks
during the year ended Dec. 31, 1960
5. National banks reported in voluntary liquidation during the year
ended Dec. 31, 1960, the names of succeeding banks in cases of
succession, with date of liquidation and capital stock
6. National banks merged or consolidated with and into State banks
under the provisions of Public Law 706 (12 U.S.C. 214), approved Aug. 17,1950, and the laws of the States where the banks
are located, during the year ended Dec. 31, 1960, with the effective date and the capital stock
7. National banks converted into State banks under the provisions
of Public Law 706 (12 U.S.C. 214), approved Aug. 17, 1950,
and the laws of the States where the banks are located, during
the year ended Dec. 31, 1960, with the effective date and the
capital stock
8. Purchases of State banks by national banks reported during the
year ended Dec. 31, 1960, with title, location, and capital stock
of the State banks and effective dates of purchase9. Consolidations of national banks, or national and State banks,
during the year ended Dec. 31, 1960, under sees. 1, 2, and 3 of
the act of Nov. 7, 1918, as amended
10. Mergers of national banks, or national and State banks, during
the year ended Dec. 31, 1960, under sees. 4 and 5 of the act
of Nov. 7, 1918, as amended
11. Number of domestic branches of national banks authorized during the year ended Dec. 31, 1960
12. Number of branches of national banks closed during the year
ended Dec. 31, 1960
13. Principal items of assets and liabilities of national banks, by size
of banks, according to deposits, Dec. 31, 1959 and 1960
14. Time deposits of national banks, June 15, 1960
15. Number of national banks in United States and possessions with
surplus fund equal to or exceeding common capital stock, and
the number with surplus fund less than common capital stock,
1942 to 1960
16. Dates of reports of condition of national banks, 1914-60
17. Assets and liabilities of national banks on Mar .15, June 15, Oct. 3,
and Dec. 31, 1960
18. Fiduciary activities of national banks as of Dec. 31, 1960
19. Fiduciary activities of national banks by Federal Reserve districts
as of Dec. 31, 1960
20. Classification of investments under administration by the active
national bank trust departments, Dec. 31, 1960
21. Fiduciary activities of national banks by States as of Dec. 31,
I960.
22. General comparative figures of fiduciary activities
23. National banks administering employee benefit trusts and agencies during 1960, by Federal Reserve districts
24. National; banks administering employee benefit trusts and agencies during 1960, by States
587026—61
8
109
111
112
113
115
116
116
117
117
118
122
124
132
133
134
136
137
139
193
195
196
196
199
200
200
110 H
EPOftT OF THE COMPTROLLER OF THE CURRENCY
Page
No. 25. Earnings, expenses, and dividends of national banks, b y States,
for the year ended Dec. 31, 1960
No. 26. Earnings, expenses, and dividends of national banks, by Federal
Reserve districts, for the year ended Dec. 31, 1960
No. 27. Earnings, expenses, and dividends of national banks, by size of
banks, for the year ended Dec. 31, 1960
No. 28. Earnings, expenses, and dividends of national banks, years ended
Dec. 31, 1958-60
No. 29. Number of national banks, capital stock, capital funds, net profits,
dividends, and ratios, years ended Dec. 31, 1930-60
No. 30. Total loans of national banks, losses and recoveries on loans,
and ratio of net losses or recoveries to loans, b y calendar years
1941-60
No. 31. Total securities of national banks, losses and recoveries on securities, and ratio of net losses or recoveries to securities, by
calendar years 1941-60
No. 32. Foreign branches of American national banks, Dec. 31, 1960
No. 33. Consolidated statement of assets and liabilities of foreign branches
of national banks, Dec. 31, 1960
No. 34. Assets and liabilities of banks in the District of Columbia by
classes, Dec. 31, 1960
No. 35. Assets and liabilities of all banks in the District of Columbia at
date of each call during the year ended Dec. 31, 1960
No. 36. Assets and liabilities of nonnational banks in the District of
Columbia at date of each call during the year ended Dec. 31,
1960
No. 37. Earnings, expenses, and dividends of banks in the District of
Columbia, years ended Dec. 31, 1960 and 1959
No. 38. Number of banks, capital stock, capital funds, net profits, interest
and dividends, and ratios, all banks, in the District of Columbia,
years ended Dec. 31, 1930-60
No. 39. Total loans of banks in the District of Columbia, losses and recoveries on loans, and ratio of net losses or recoveries to loans,
by calendar years 1941-60
No. 40. Total securities of banks in the District of Columbia, losses and
recoveries on securities, and ratio of net losses or recoveries to
securities, by calendar years 1941-60
No. 41. Fiduciary activities of banks in the District of Columbia, Dec.
31, 1960
No. 42. Assets and liabilities of all active banks in the United States and
possessions, by classes, Dec. 31, 1960
No. 43. Assets and liabilities of all active banks in the United States and
possessions, by States and territories, Dec. 31, 1960
No. 44. Assets and liabilities of active national banks, by States and territories, Dec. 31, 1960
No. 45. Assets and liabilities of all active banks other than national, by
States and territories, Dec. 31, 1960
No. 46. Assets and liabilities of active State commercial banks, by States
and territories, Dec. 31, 1960
No. 47. Assets and liabilities of active mutual savings banks, by States
and territories, Dec. 31, 1960
No. 48. Assets and liabilities of active private banks, by States and territories, Dec. 31, 1960
No. 49. Per capita demand and time deposits of individuals, partnerships,
and corporations in all active banks, by States, Dec. 31, I960—
No. 50. Officials of State banking departments and number of each class
of active banks in December 1960
No. 51. Assets and liabilities of all active banks, Dec. 31, 1936 to 1960__.
No. 52. Assets and liabilities of all active national banks, Dec. 31, 1936
to 1960
No. 53. Assets and liabilities of all active banks other than national, Dec.
31, 1936 to 1960
No. 54. Bank suspensions since inauguration of Federal deposit insurance,
years ended Dec. 31, 1934 to 1960
202
210
214
217
219
220
220
221
222
223
225
226
227
229
230
232
233
234
236
244
252
260
268
273
277
279
282
283
284
285
111HEPOftTOF THE COMPTROLLER OF THE CURRENCY
TABLE
NO.
1.—Comptrollers and Deputy Comptrollers of the Currency, dates of
appointment and resignation, and States whence appointed
Name
Date of appointment
Date of resignation
State
COMPTROLLERS OF THE CURRENCY
McCulloch, Hugh
Clarke, Freeman
Hulburd, Hiland R
Knox, John Jay
Cannon, Henry W
Trenholm, William L
Lacey, Edward S__
Hepburn, A. Barton
Eckels, James H
Dawes, Charles G
Ridgely, William Barret.
Murray, Lawrence O
Williams, John Skelton..
Crissinger, D . R
Dawes, Henry M
Mcintosh, Joseph W
Pole, John W
O'Connor, J. F. T
Delano, Preston
Gidney, Ray M
May
Mar.
Feb.
Apr.
May
Apr.
May
Aug.
Apr.
Jan.
Oct.
Apr.
Feb.
Mar.
May
Dec.
Nov.
May
Oct.
Apr.
9,1863
21,1865
1,1867
25,1872
12,1884
20,1886
1,1889
2,1892
26,1893
1,1898
1,1901
27,1908
2,1914
17,1921
1,1923
20,1924
21,1928
11,1933
24,1938
16,1953
Mar.
July
Apr.
Apr.
Mar.
Apr.
June
Apr.
Dec.
Sept.
Mar.
Apr.
Mar.
Apr.
Dec.
Nov.
Sept.
Apr.
Feb.
8,1865
24,1866
3,1872
30,1884
1,1886
30,1889
30.1892
25.1893
31,1897
30,1901
28,1908
27,1913 i
2,1921
30.1923
17.1924
20,1928
20,1932
16,1938
15,1953
Indiana.
New York.
Ohio.
Minnesota.
Do.
South Carolina
Michigan.
New York.
Illinois.
Do.
Do.
New York.
Virginia.
Ohio.
Illinois.
Do.
Ohio.
California.
Massachusetts
Ohio.
DEPUTY COMPTROLLERS OP THE CURRENCY
Howard, Samuel T
Hulburd, Hiland R
Knox, John Jay
Langworthy, John S__.
Snyder, V. P._.
Abrahams, J. D
Nixon, R. M
Tucker, Oliver P
Coffin, George M
Murray, Lawrence 0 _.
Kane, Thomas P
Fowler, Willis J
Mcintosh, Joseph W . . .
Collins, Charles W
Stearns, E. W
Await, F. G
Go ugh, E. H
Proctor, John L
Lyons, Gibbs
Prentiss, William, Jr_.
Diggs, Marshall R
Oppegard, G. J
Upham, C. B
Mulroney, A. J
McCandless, R. B
Sedlacek, L. H
Robertson, J. L
Hudspeth, J. W
Jennings, L. A
Taylor, W . M
Garwood, G. W
Fleming, Chapman C .
Haggard, Hollis S
i Term expired.
* Died Mar. 2,1923.
M a y 9,1863
Aug. 1,1865
Mar. 12,1867
Aug. 8,1872
Jan.
5,1886
Jan. 27,1887
Aug. 11,1890
Apr. 7,1893
Mar. 12,1896
Sept. 1,1898
June 29,1899
July 1,1908
M a y 21,1923
July 1,1923
Jan. 6,1925
July 1,1927
July 6.1927
Dec. 1.1928
Jan. 24,1933
Feb. 24,1936
Jan. 16,1938
.do
Oct. 1.1938
May 1.1939
July 7,1941
Sept. 1,1941
Oct. 1,1944
Jan. 1.1949
Sept. 1.1950
Mar. 1.1951
Feb. 18,1952
Sept. 15.1959
M a y 16.1960
Aug. 1, 1865
Jan. 31, 1867
Apr. 24, 1872
Jan. 3, 1886
Jan. 3, 1887
May 25, 1890
Mar. 16, 1893
Mar. 11, 1896
Aug. 31, 1898
June 27, 1899
Mar. 2, 1923 2
Feb. 14, 1927
Dec. 19, 1924
June 30, 1927
Nov. 30, 1928
Feb. 15, 1936
Oct. 16, 1941
Jan. 23, 1933
Jan. 15, 1938
do__
Sept. 30, 1938'
.do
Dec. 31, 1948
Aug. 31, 1941
Mar. 1, 1951
Sept. 30, 1944
Feb. 17, 1952
Aug. 31, 1950
M a y 16, 1960
New York.
Ohio.
Minnesota.
New York.
Do.
Virginia.
Indiana.
Kentucky.
South Carolina.
New York.
District of Columbia.
Indiana.
Illinois.
Do.
Virginia.
Maryland.
Indiana.
Washington.
Georgia.
California.
Texas.
California.
Iowa.
Do.
Do.
Nebraska.
Do.
Texas.
New York
Virginia.
Colorado.
Ohio.
Missouri.
112
HEPOftT
OF THE COMPTROLLER OF THE CURRENCY
2.—Total number of national
under act Nov. 7, 1918, as amended,
verted into and merged or consolidated
(.12 U.S.C. 214), and in existence Dec.
TABLE NO.
Maine
Vermont.Massachusetts
Rhode Island.
Connect! cut
_
-----
Total New England States.
New York
New Jersey
Pennsylvania
Delaware
Maryland
District of Columbia
Total Eastern States
Virginia
West Virginia
North Carolina
South Carolina
Georgia
Florida
- _ _ _
Alabama .
_
Mississippi
_
Louisiana
- Texas
Arkansas
Kentucky
Tennessee
Total Southern States
Ohio
Indiana
Illinois
Michigan
Wisconsin
Minnesota
Iowa
Missouri
Total Middle
States
North Dakota
South Dakota
Nebraska
Kansas
Montana
Wyoming.
Colorado
- New Mexico.
Oklahoma
_
Western
_
-
Total Western States
—
Consolidated
and merged
under act
Nov. 7,1918,
as amended
Public Law 706
(12 U.S.C. 214)
Insolvent
In
liquidation
4
13
5
17
28
2
7
79
22
29
207
58
69
57
13
72
999
419
1,284
30
144
32
111
39
90
27
4
15
3
8
2
2,908
251
255
193
155
126
193
204
181
82
114
1,231
150
250
215
19
11
8
8
8
2
4
5
3
44
1
10
7
3,349
130
703
441
939
326
277
495
550
298
32
13
17
11
9
8
4
11
4,029
105
259
220
405
447
198
64
222
90
749
3
12
2
6
3
2,654
Organized
Location
banks organized, consolidated, and merged
insolvent, in voluntary liquidation, conwith State banks under Public Law 706
81, 1960
In existence
Converted
to
State
banks
Merged
or consolidated
with
State
banks
1
4
4
13
23
51
31
101
4
23
464
1
22
233
130
59
211
1
17
7
437
149
468
18
68
13
4
52
8
40
8
4
238
160
460
3
50
4
48
425
1,153
4
112
915
4
28
38
44
43
42
42
45
16
16
141
39
37
36
74
67
58
49
87
41
62
34
53
571
55
110
94
1
13
567
1,355
3
1
112
98
227
77
54
116
204
58
330
204
295
156
115
192
242
148
4
2
7
946
1,682
8
12
100
93
83
76
76
12
55
25
84
118
81
198
197
76
26
84
36
453
43
604
Consolidations
under
sees. 1,
2, and 3
Mergers
under
sees.4
and 5
127
81
85
377
67
125
7
3
3
32
3
9
4
862
5
5
a
1
1
1
3
1
4
1
4
2
1
1
129
77
35
25
53
119
69
27
42
470
55
87
75
13
8
1,263
3
1
1
3
1
223
125
397
76
99
179
96
77
9
1,272
4
3
2
1
1
1
1.269
3
= = = ! = = =
38
33
121
167
43
26
78
29
200
735
113
HEPOftT OF THE COMPTROLLER OF THE CURRENCY
2.—Total number of national banks organized, consolidated, and merged
under act Nov. 7, 1918, as amended, insolvent, in voluntary liquidation, converted
into and merged or consolidated with State banks under Public Law 706 {12 XJ.S.C.
214), and in existence Dec. 81, 1960—Continued
TABLE NO.
Organized
Location
Washington
Oregon
California
Idaho
Utah
Nevada
Arizona. _
Alaska
Hawaii
_
Total Pacific States
Puerto Rico
Virgin Islands of the United
States..
Total possessions
Consolidated
and merged
under act
Nov. 7,1918,
as amended
Consolidations
under
sees. 1
2, and 3
Mergers
under
sees.4
and 5
231
149
533
111
38
17
31
8
7
18
2
19
2
2
13
1,125
46
4
1
1
Public Law 706
(12 U.S.C. 214)
Insolvent
In
liquidation
51
31
65
35
6
4
6
134
102
383
65
19
8
21
1
4
198
737
1
17
1
ConMerged
verted or conto
solidated
State
with
banks
State
banks
1
1
2
2
12
1
1
1
17
In existence
26
10
40
10
7
3
3
7
2
108
1
1
1
2
1
Total United States and
114,929
possessions
632
98
2 2,812
3
6,661
1
31
168
4,527
1 Includes 456 organized under act Feb. 25,1863; 9,401 under act June 3, 1864, as amended; 10 under Gold
Currency Act of July 12, 1870; and 5,062 under act Mar. 14,1900.
2 Exclusive of those restored to solvency.
3 Includes 208 passed into liquidation upon expiration of corporate existence.
TABLE
NO.
3.—National banks chartered during the year ended Dec. 81, 1960
CALIFORNIA
14891
14899
14903
Santa Barbara National Bank, Santa Barbara
First National Bank of South Gate
Valley National Bank, Sunnymead
Total (3 banks)—
$600,000
500,000
200,000
-
1,300,. 000
COLORADO
14920
14882
14883
14885
14892
14895
14896
14897
14902
14909
14917
14922
14923
14924
Arapahoe National Bank of Boulder
200,000
FLORIDA
First National Bank of Wauchula
—
South Orlando National Bank, Orlando
National Bank of Commerce, Miami
First National Bank at Pine Hills
—
Florida National Bank at Opa-Locka—
.
First National Beach Bank, Jacksonville Beach, Florida, Jacksonville Beach i.
The National Bank of St. PetersburgFlorida National Bank at Port St. Joe *
The Commercial National Bank of Pensacola i
The First National Bank in Punta Gorda1
Caladesi National Bank at Dunedin.
First National Bank of Lake Wales—.
Boca Raton National Bank, Boca Raton
Total (13 banks)
250,000
300,000
450,000
250,000
300,000
225,000
500,000
100,000
400,000
200,000
300,000
400,000
500,000
4,175,000
14
118HEPOftTOF THE COMPTROLLER OF THE CURRENCY
'ABLE
N o . 3.—National banks chartered during the year ended Dec. 81
Continued
Title and location of bank
harter
No.
GEORGIA
14900
14907
The Chamblee National Bank, Chamblee
The National Bank of Albany
Total (2 banks).
HAWAII
14911
Hawaii National bank, Honolulu
14888
14913
14927
First National Bank of Park Ridge »
Coles County National Bank of Charleston.
Danforth First National Bank of Washington
ILLINOIS
Total (3 banks)
INDIANA
14921
American National Bank and Trust Company of Muncie
14894
Fort Knox National Bank, Fort Knox
KENTUCKY
MASSACHUSETTS
14915
New England National Bank of Boston L
MICHIGAN
14918
14925
National Bank and Trust Company of Traverse City
City National Bank of Detroit *
Total (2 banks)
MONTANA
14910
14929
First Security Bank of Glasgow, National Association, Glasgow i.
First National Bank of Cut Bank
Total (2 banks).
NEW MEXICO
14912
Security National Bank of Roswell
14914
National Bank of Fulton County, Delta 1 —
14887
14908
14926
Penn Square National Bank of Oklahoma City.
City National Bank, Tulsa
Central National Bank of Oklahoma City 1
OHIO
OKLAHOMA
Total (3 banks)
TEXAS
14884
14886
14890
14898
14901
14905
14916
14928
County National Bank of Orange
First National Bank of Jasper
South Park National Bank of Houston
First National Bank in Richland.
Westview National Bank, Waco
First National Bank of Alvin..
Southern National Bank of Houston
Citizens National Bank of Austin
Total (8 banks).
See
at end of table.
115
HEPOftT
OF THE COMPTROLLER OF THE CURRENCY
3.—National banks chartered during the year ended Dec. 81,
Continued
TABLE NO.
Title and location of bank
Charter
No.
1960—
Capital
stock
VIRGINIA
14893
14904
Old Dominion National Bank of Fairfax County, Annandale
Security National Bank, Baileys Cross Roads
$200,000
600,000
1
Total (2 banks)
14919
800,000
WASHINGTON
Tri-Cities National Bank, Pasco.—
200,000
WISCONSIN
14906
Mavfair National Bank of Wauwatosa
300,000
WYOMING
14889
Cheyenne National Bank, Cheyenne
100,000
Total United States (48 banks)
$21,642,750
i Conversion of State-chartered bank.
TABLE
Charter
No.
14888
14896
14902
14909
14910
14914
14915
14917
14918
14921
14925
14926
14927
NO.
4.—National banks chartered which were conversions of State banks
during the year ended Dec. 31, 1960
Title and location of bank
State
First National Bank of Park Ridge- 111-.
Old Dominion National Bank of Va_.
Fairfax County, Annandale.
First National Beach Bank, Jack- Flasonville Beach, Florida, Jacksonville Beach.
Florida National Bank at Port St. .__do
Joe.
The Commercial National Bank of ,__do
Pensacola.
First Security Bank of Glasgow, M o n t . . .
National Association, Glasgow.
National Bank of Fulton County, Ohio
Delta.
New England National Bank of Mass
Boston.
The First National Bank in Punta Fla
Gorda.
National Bank and Trust Com- Mich
pany of Traverse City.
American National Bank and Ind
Trust Company of Muncie.
Mich-.
City National Bank of Detroit
Central National Bank of Okla- O k l a homa City.
Danforth First National Bank of I1L.
Washington.
Total (14 banks)
Effective
date of
charter
Authorized
capital
Approximate
surplus
and undivided
profits
Approximate
Feb. 13
Apr. 1
$250,000
200,000
$217,730
476,536
$6,740,772
6,921,769
Apr. 18
225,000
315,364
7,151,566
4,039,460
May 31
100,000
296,323
Aug. 18
400,000
241,448
2,568,910
Aug. 31
210,000
360,634
7,215,262
Sept. 30
100,000
189,071
2,378,046
Oct. 14
2,400,000
4,354,975
74,095,768
Oct. 31
200,000
298, 769
8,952,837
Nov. 14
400,000
319,084
10,314,154
Nov. 30
500,000
844,106
20,174,911
Dec. 14
Dec. 19
3, 557, 750
600,000
5,975,642
1,597,010
167,134,101
26,837,599
Dec. 31
100,000
414,325
15,901,017
349,374,148
116
HEPOftT
OF THE COMPTROLLER OF THE CURRENCY
N O . 5.—National banks reported in voluntary liquidation during the year
ended Dec. 31, 1960, the names of succeeding banks in cases of succession, with
date of liquidation and capital stock
TABLE
Title and location of bank
The New Alexandria National Bank, New Alexandria, Pa. (6580), absorbed
by First National Bank in Greensburg, Pa
The First National Bank of Friendsville, Md. (6196), absorbed by The First
National Bank of Oakland, M d
The Augusta Citizens and Southern National Bank, Augusta, Ga.1 (14785),
absorbed by The Citizens and Southern National Bank, Savannah, Ga
The First National Bank of Richland, Texas (12508), absorbed by First
National Bank in Richland...
The Essex National Bank, Essex, Conn. (8936), absorbed by Hartford National Bank and Trust Company, Hartford, Conn...
The Washington National Bank, Washington, Kans. (3167), absorbed by The
First National Bank of Washington
The First National Bank of Elmwood Place, Ohio (6314), absorbed by The
First National Bank of Cincinnati, Ohio
New Florence National Bank, New Florence, Pa. (13907), absorbed by Johnstown Bank and Trust Company, Johnstown, Pa
The Dowagiac National Bank, Dowagiac, Mich. (10073), absorbed by First
National Bank of Niles, Mich
Date of
liquidation
Feb. 26,1960
Apr.
Capital
stock
$75,000
2,1960
25,000
Apr. 30,1960
400,000
Apr. 29,1960
30,000
July 18,1960
100,000
Aug.
6,1960
25,000
Sept.
2,1960
150,000
Aug.
9,1960
75,000
Oct. 29,1960
150,000
1,030,000
Total (9 banks)..
i With 1 local branch.
N O . 6.—National banks merged or consolidated with and into State banks
under the provisions of Public Law 706 {12 U.S.C. 214), approved Aug. 17, 1950,
and the laws of the States where the banks are located, during the year ended Dec.
81, 1960, with the effective date and the capital stock
TABLE
Title and location of bank
Saratoga National Bank of Saratoga Springs, N . Y . (893), merged with and into
State Bank of Albany, N . Y
The Windsor National Bank, Windsor, N . Y . (9415), merged with and into
Marine Midland Trust Company of Southern New York, Elmira, N . Y
The Valley National Bank of Milton, Milton-Freewater, Oreg. (13633),
merged with and into Portland Trust Company, Portland, Oreg., and under
the title " T h e Oregon Bank"
The First National Bank of Belfast, Me. (13762), merged with and into Depositors Trust Company, Augusta, M e
The First National Bank of Duquesne, Pa. (4730), merged with and into
Peoples Union Bank and Trust Company, McKeesport, Pa.
Chicago National Bank, Chicago, 111. (13659), merged with and into Harris
Trust and Savings Bank, Chicago
The York National Bank and Trust Company, York, Pa. (604), consolidated
with The York Bank and Trust Company, York
First National Bank of Pasadena, Texas (14668), merged with and into Pasadena State Bank, Pasadena, and under the title "First Pasadena State
Bank"
The Perkiomen National Bank of East Greenville, Pa (5166), merged with and
into Industrial Trust Company, Philadelphia, Pa__
The Collegeville National Bank, Collegeville, Pa. (8404), merged with and
into Provident Tradesmens Bank and Trust Company, Philadelphia, P a . .
Total (10 banks)
Effective
date
Apr. 22,1960
Capital
stock
$200,000
May
5,1960
Aug.
1,1960
75,000
Aug. 31,1960
150,000
25,000
Sept. 30,1960
500,000
Oct. 24,1960
3,500,000
Nov. 23,1960
1,485,000
Dec.
2,1960
Dec. 30,1960
do
500,000
100,000
200,000
6,735,000
117
HEPOftT
OF THE COMPTROLLER OF THE CURRENCY
7.—National banks converted into State banks under the provisions of
Public Law 706 {12 XJ.S.C. 214), approved Aug. 17, 1950, and the laws of the
States where the banks are located, during the year ended Dec. 31, 1960, with the
effective date and the capital stock
TABLE NO.
Title and location of bank
The First National Bank of Minatare, Nebr. (13316), converted into Minatare
State Bank, Minatare
The Farmers National Bank of Princeton, Ky. (5257), converted into Farmers
Bank and Trust Company, Princeton
The Rutland County National Bank, Rutland, Vt. (820), converted into The
Rutland County Bank, Rutland
The National Bank of Toledo, Iowa (13073), converted into The State Bank
of Toledo
The American National Bank of Arlington, Iowa (9664), converted into Arlington State Bank, Arlington
The First National Bank of Pleasanton, Kans. (8803), converted into The
First State Bank of Pleasanton
-
Effective
date
Mar. 19,1960
May
Capital
stock
$25,000
1,1960
100,000
June 30,1960
300,000
July
5,1960
80,000
Nov.
8,1960
25,000
Nov. 14,1960
Total (6 banks)..
50,000
580,000
N O . 8.—Purchases of State banks by national banks reported during the
year ended Dec. 81, 1960, with title, location, and capital stock of the State banks,
and effective dates of purchase
TABLE
Title and location of bank
The First National Bank of Cincinnati, Ohio (24), purchased The Farmers
State Bank, Miamitown, Ohio
—
First National Bank in Indiana, Pa. (14098), purchased Union Deposit Bank,
South Fork, Pa
Seattle-First National Bank, Seattle, Wash. (11280), purchased State Bank
of Republic, Wash
—
The Anderson National Bank of Lawrenceburg, Ky. (8604), purchased Van
Buren State Bank, Van Buren, K y
First Portland National Bank, Portland, Me. (4128), purchased Bath Trust
Company, Bath, M e .
The Peoples National Bank of Ottawa, Kans. (1910), purchased The Peoples
State Bank, Princeton, Kans_
The Newport National Bank, Newport, Ky. (4765), purchased The Highland
Bank, Fort Thomas, K y
The First National Bank of Hillsborough, Hillsboro, N . H . (1688), purchased
The Hillsboro Guaranty Savings Bank, Hillsboro
The First National Bank of Baltimore, M d . (1413), purchased St. James
Savings Bank of Baltimore City, Baltimore
Total (9 banks)..
Effective
date
Capital
stock
Jan.
2,1960
$100,000
Feb.
6,1960
50,000
Mar. 11,1960
25,000
Mar. 19,1960
25,000
Mar. 26,1960
100,000
Apr. 30,1960
25,000
Sept. 30,1960
do
25,000
100,000
Dec. 16,1960
450,000
118
REPORT OF THE COMPTROLLER OF THE CURRENCY
9.—Consolidations of national banks, or national and State banks, during
the year ended Dec. 31, 1960, under sees. 1, 2, and 3 of the act of Nov. 7, 1918, as
amended
TABLE NO.
Capital
stock
Manasquan National Bank, Manasquan, N.J. (9213),
with..
—
and Asbury Park National Bank and Trust Company, Asbury Park, N.J. (13363), which had
consolidated Jan. 2,1960, under charter of the latter
bank (13363), and title "Asbury Park-Manasquan
National Bank." The consolidated bank at date
of consolidation had
Empire Trust Company, St. Joseph, Mo., with
and " T h e Tootle National Bank, Saint Joseph, Missouri," St. Joseph, Mo. (6272), which had
consolidated Jan. 29,1960, under charter of the latter
bank (6272), and title " T h e Tootle-Enrieht National Bank, Saint Joseph, Missouri." The consolidated bank at date of consolidation had
Wichita National Bank of Wichita Falls, Texas (13676),
with
—
and the First National Bank of Wichita Falls, Texas
(3200), which had
consolidated Feb. 19,1960, under charter of the latter
bank (3200), and title " T h e First-Wichita National
Bank of Wichita Falls." The consolidated.bank
at date of consolidation had
The First National Bank & Trust Company of Roscoe,
N . Y . (8191), with
and The Sullivan County National Bank of Liberty,
N . Y . (4925), which had
—
consolidated Feb. 19, 1960, under charter and title of
the latter bank (4925). The consolidated bank at
date of consolidation had
The Continental National Bank of Lincoln, Nebr.
(13333), with
and The First National Bank of Lincoln, Nebr. (1798),
which had__
consolidated Mar. 12,1960, under charter of the latter
bank (1798), and title "First Continental National
Bank & Trust Company". The consolidated
bank at date of consolidation had
Bank of Kodiak, Kodiak, Alaska, with.
Bank of Homer, Homer, Alaska, with
Bank of Wrangell, Wrangell, Alaska, w i t h . . .
First Bank of Sitka, Sitka, Alaska,i with
Miners & Merchants Bank of Ketchikan, Alaska,
with.
and National Bank of Alaska in Anchorage, Alaska
(14651), which had
consolidated Mar. 31,1960, under charter of the lastnamed bank (14651), and title "National Bank of
Alaska." The consolidated bank at date of consolidation had..
The Guilford National Bank of Greensboro, N.C. 2
(13985), with.
and Security National Bank of Greensboro, N . C .
(13761), which had
consolidated Apr. 8, 1960, under charter and title of
the latter bank (13761). The consolidated bank at
date of consolidation had.
The Whitinsville National Bank, Whitinsville, Mass.
(769), with
'
and the Blackstone National Bank of Uxbridge,
Mass. (1022), which had—
consolidated Apr. 15,1960, under charter of the latter
bank (1022), and title "Blackstone Valley National
Bank of Whitinsville." The consolidated bank at
date of consolidation had
The First National Bank of Mount Union, Pa. (6411),
with....
and Union National Bank and Trust Company of
Huntingdon, Pa. (4965), which h a d . . .
consolidated Apr. 23,1960, under charter and title of
the latter bank (4965). The consolidated bank at
date of consolidation had
See footnotes at end of table.
Surplus
Undivided
profits
Total
assets
$200,000
$350,000
$27,257
$8,752,666
750,000
1,000,000
888,001
32, 788,250
970,000
400,000
1,350,000
450,000
895,258
438, 775
41,540,917
14,395,329
600,000
800,000
306,119
29,780,760
1,000,000
1,250,000
744,894
43,333,420
1,000,000
1,000,000
541,696
33,248,467
1,375,000
1,750,000
1,032,245
63,859,682
2,512,500
2,750,000
1,436,441
97,108,150
100,000
200,000
132,275
4,050,643
350,000
650,000
217,920
13,094,395
475,000
850,000
325,195
17,145,038
1,300,000
1,300,000
577,270
43,633,098
2,500,000
2,500,000
725,377
69,688,752
3,750,000
160,000
50,000
75,000
112,500
3,750,000
160,000
20,000
75,000
275,000
1,402, 647
165, 570
24,050
65,887
63,345
113,321,850
5,219,216
1,272,942
1, 561, 567
5,154,910
150,000
250,000
58,776
6,824,251
700,000
550,000
282,021
40,777,271
2,168,120
500,000
557, 648
58, 758,097
1,000,000
2,400,000
244,124
42,321,852
2,875,000
8,225,000
1,801,233
151,640,148
3,875,000
10, 625,000
2,045,356
193,262,115
120,000
280,000
195,191
4,880,131
100,000
200,000
72,186
2,199,024
310,000
390,000
265,377
7,079,154
60,000
180,000
35,180
2,829,198
175,000
300,000
83,961
6,854,207
246,000
480,000
106,857
9,683,433
119 REPORT OF THE COMPTROLLER OF THE CURRENCY
9.—Consolidations of national banks, or national and State banks, during
the year ended Dec. 81, 1960, under sees. 1, 2, and 3 of the act of Nov. 7, 1918, as
amended—Continued
TABLE NO.
Capital
stock
William Penn Bank of Commerce, Pittsburgh, Pa.,
with
and Western Pennsylvania National Bank, McKeesport, Pa. (2222), which had
consolidated Apr. 30, 1960, under charter and title of
the latter bank (2222). The consolidated bank at
date of consolidation had
The Atlantic Highlands National Bank, Atlantic Highlands, N.J. (4119), with
and The Monmouth County National Bank, Red
Bank, N.J. (2257), which had
consolidated June 24,1960, under charter and title of
the latter bank (2257). The consolidated bank at
date of consolidation had
and Fidelity-Baltimore National Bank, Baltimore,
Md. (13745), which had
consolidated June 24,1960, under charter of the latter
bank (13745), and title " B altimore National B ank.''
The consolidated bank at date of consolidation had_.
Union Trust Company of New Castle, Pa., with
and First National Bank of Lawrence County at
New Castle, Pa. (562), which had
consolidated June 30, 1960, under charter and title of
the latter bank (562). The consolidated bank at
date of consolidation had
American Commercial Bank, Charlotte, N.C., 4 with...
and Security National Bank of Greensboro, N.C.
(13761), which had
consolidated June 30,1960, under charter of the latter
bank (13761), and title "North Carolina National
Bank," Charlotte, N.C. The consolidated bank
at date of consolidation had
The Peoples Bank of Tiltonville, Tiltonsvill < Ohio,
with
and The First National Bank and Trust Company
in Steubenville, Ohio (2160), which had
consolidated July 15, 1960, under charter and title of
the latter bank (2160). The consolidated bank at
date of consolidation had
The Farmers National Bank of Pennsburg, Pa. (2334),
with
and The Peoples National Bank of Norristown, Pa.
(2581), which had
consolidated July 29,1960, under charter of the latter
bank (2581), and title "The Peoples National Bank
and Trust Company of Norristown." The consolidated bank at date of consolidation had
The Rye National Bank, Rye, N.Y.& (5662), with
and National Bank of Westchester, White Plains,
N.Y. (10525), which had
consolidated July 29, 1960, under charter and title of
the latter bank (10525). The consolidated bank
at date of consolidation had
—.
Indiana Trust and Savings Bank of Evansville, Ind.,
with__
and Old National Bank in Evansville, Ind. (12444),
which had
—.
consolidated Sept. 2, 1960, under charter and title
of the latter bank (12444). The consolidated bank
.
at date of consolidation had
The Bergenfield National Bank and Trust Company,
Bergenfield, N.J.« (11368), with
and Citizens National Bank of Englewood, N.J.
.
(4365), which had
consolidated Sept. 23, 1960, under charter and title
of the latter bank (4365). The consolidated bank
.
at date of consolidation had
City Bank and Trust Company, Macon, Ga., with
and The Citizens and Southern National Bank,
Savannah, Ga. (13068), which had
consolidated Sept. 23, 1960, under charter and title
of the latter bank (13068). The consolidated bank
at date of consolidation had
See footnotes at end of table.
Surplus
Undivided
profits
Total
assets
$200,000
$700,000
$214,306
$13,578,532
5,987,400
8,012,600
3,023,973
196,533,973
6, 537,400
8,462,600
3,138,280
210,112,505
200,000
400,000
222, 657
8,493,098
1,000,000
1,000,000
853,820
43,045,118
1,268,000
1,625,000
1,268,000
4,375,000
1,140,476
2, 566,299
51, 538,216
111,513,073
4,367,500
13, 632, 500
3,397,007
320,848,687
7,292, 500
1,080,000
17, 707, 500
1,080,000
4, 525, 756 431,140,147
1,168, 074
9,116,804
1,000,000
1,000,000
975,028
21,390,346
1,350,000
4,200,000
1,650,000
14,800,000
903,101
2,375,060
28,107,150
264,875,995
3,875,000
10,625,000
1,823,443
197,039,852
9,344, 500
26,655, 500
2,698, 503
457,111, 165
50,000
60,000
75,338
2,047,774
1,475,000
2,215,000
594,397
52,081,192
1, 535,000
2,275,000
664,378
54,142,364
75,000
125,000
15,056
3,300,715
905,425
887.675
203,195
23,478,916
999,175
836,800
993,925
575,000
218,251
407, 568
26,779,632
28,337,312
3,870,775
5,200,000
1,864,665
181,411,789
4,749,415
6,000,000
2,005,393
209,749,101
100,000
200,000
241,400
5,620,841
2,400,000
3,600,000
1,996,874
77,048,840
3,000,000
4,000,000
1,574,691
82,585,013
300,000
600,000
184,228
19,716,446
1,400,000
1,840,000
675,870
46,596,286
1,940,000
275,000
2,200,000
675,000
860,098
95, 576
66,312,731
7,195,246
14,000,000
26,000,000
7,414,982
534,422,686
15,000,000
30,000,000
5,880,196 1 541,314,161
120
REPORT OF THE COMPTROLLER OF THE CURRENCY
9.—Consolidations of national banks, or national and State banks, during
the year ended Dec. 81, 1960, under sees. 1, 2, and 8 of the act of Nov. 7, 1918, as
amended—Continued
TABLE NO.
Capital
stock
$175,000
The First National Bank of Tamaqua, Pa. (1219), with..
and The Miners National Bank of Pottsville, Pa.
500,000
(649), which had
consolidated Sept. 30, 1960, under charter and title
of the latter bank (649). The consolidated bank at
780,000
date of consolidation had
The Citizens Bank and Trust Company of Blooming200,000
ton, Ind., with
and The First National Bank of Bloomington, Ind.
400,000
(1888), which had
consolidated Sept. 30, 1960, under charter of the
latter bank (1888), and under the title "Citizens
First National Bank of Bloomington." The con800,000
solidated bank at date of consolidation had
The Peoples National Bank of Somerset, Pa. (13900),
100,000
with
and United States National Bank in Johnstown, Pa.
800,000
(13781), which had
consolidated Oct. 15,1960, under charter and title of
the latter bank (13781). The consolidated bank at
900,000
date of consolidation had
First National Bank of Lewiston and Auburn, Lewis900,000
ton, Me. (330), with
and The Manufacturers National Bank of Lewiston,
1,000,000
M e . (2260), which had
consolidated Oct. 28,1960, under charter of the latter
bank (2260), and under the title "First-Manufacturers National Bank of Lewiston and Auburn." The
2,068,750
consolidated bank at date of consolidation had
35,500
Newburgh State Bank, Newburgh, Ind., with
and Boonville National Bank, Boonville, Ind.
125,000
(14218), which had
consolidated Oct. 31,1960, under charter of the latter
bank (14218), and title "Warrick National Bank of
Boonville." The consolidated bank at date of con236,000
solidation had
The National Bank of Catasauqua, Pa. (1411), with
525,000
and The First National Bank of Allentown, Pa. (373),
2,000,000
which had.
consolidated Nov. 4, 1960, under charter and title of
the latter bank (373). The consolidated bank at
3,030,000
date of consolidation had
Commonwealth Trust Company, Union City, N.J.,'
1,000,000
with
and Hudson County National Bank, Jersey City,
. 3,300,000
N.J. (1182), which had
consolidated Nov. 4, 1960, under charter and title of
the latter bank (1182). The consolidated bank at
4,040,000
date of consolidation had
—
1,500,000
Colonial Trust Company, New York, N . Y . , 8 with
The Queens National Bank of New York, Spring. 1,050,000
field Gardens, N.Y.® (13149), with
and The Meadow Brook National Bank of Nassau
County, West Hempstead, N . Y . (7703), which had.. 12,720,530
consolidated Nov. 10, 1960, under the charter of the
last-named bank (7703), and title " T h e Meadow
Brook National Bank." The consolidated bank at
13,926,155
date of consolidation had
150,000
and The First National Bank and Trust Company of
200,000
Woodbury, N.J. (1199), which had
consolidated Nov. 10,1960, under charter of the latter
bank (1199), and title "First County National
Bank and Trust Company, Woodbury."
The
430,000
consolidated bank at date of consolidation had
The Geneva Savings and Trust Company, Geneva,
337,500
Ohio," with
and The National Bank of Ashtabula, Ohio (5075),
350,000
which had__
consolidated Nov. 30,1960, under charter of the latter
bank (5075), and title " T h e Northeastern Ohio
National Bank of Ashtabula, Ohio," The con687,500
solidated bank at date of consolidation had
See footnotes at end of table.
Surplus
Undivided
profits
Total
assets
$900,000
$123,342
$6,976,500
1,000,000
335,786
25,236,236
1,600,000
654,128
32,212,736
300,000
449,894
9,195,298
400,000
365,303
18,048,826
800,000
510,837
27,265,342
250,000
91,722
5,524,704
2,200,000
1,466,668
52,105,005
2,450,000
1,558,390
57,597,912
900,000
748,422
26,269,134
1,000,000
850,183
23,437,488
2,068,750
164,500
1,261,125
15,730
49,706,622
1,803,760
135,000
269,107
5,960,728
240,000
1,250,000
267,838
617,265
7,764,488
21,758,687
4,000,000
2,726,438
108,318,498
5,250,000
2,838,703
130,077,185
786,216
625,008
55,056,989
4,750,000
496,873
120,332,114
6,000,000
3,500,000
761,247
1,583,317
173,997,577
80,844,933
1,059,500
127,720
28,946,704
7,502,290
1,756,679
445,560,670
9,073,845
450,000
7,800,037
36,217
556,414,377
6,801,401
800,000
278,005
13,978,170
1,250,000
238,680
20,759,030
362,500
101,199
10,214,824
500,000
150,904
9,447,914
862,500
402,255
19,811,693
121HEPOftTOF THE COMPTROLLER OF THE CURRENCY
9.—Consolidations of national banks, or national and State banks, during
the year ended Dec. 81, 1960, under sees. 1, 2, and 8 of the act of Nov. 7, 1918, as
amended—Continued
TABLE NO.
Capital
stock
The Mount Kisco National Bank and Trust Company,
Mount Kisco, N.Y. (5026), with
and National Bank of Westchester, White Plains,
N.Y. (10525), which had_.
consolidated Dec. 2, 1960, under charter and title of
the latter bank (10525). The consolidated bank at
date of consolidation had
Exchange National Bank in Marietta, Pa. (14276), with,
and The First National Bank of Marietta, Pa. (25),
which had.
—
consolidated Dec. 2. 1960, under charter and title of
the latter bank (25). The consolidated bank at
date of consolidation had
Peoples Bank of Claypool, Ind., with__
and First National Bank of Warsaw, Ind. (14382),
which had___
consolidated Dec. 15,1960, under charter and title of
the latter bank (14382). The consolidated bank at
date of consolidation had...
Anacostia National Bank of Washington, D.C."
(14550), with
and The National Bank of Washington, D.C. (3425),
which had.
. consolidated Dec. 30,1960, under charter and title of
*
the latter bank (3425). The consolidated bank at
date of consolidation had.
The Lorain Banking Company, Lorain, Ohio,13 with..
and The National Bank of Lorain, Ohio (14290),
which had
consolidated Dec. 31,1960, under charter of the latter
bank (14290), and title "The Lorain National
Bank." The consolidated bank at date of consolidation had
The Huguenot National Bank of New Paltz, N.Y.
(1186), with
and The State of New York National Bank, Kingston, N.Y. (955), which had
consolidated Dec. 31,1960, under charter and title of
the latter bank (955). The consolidated bank at
date consolidation had_._
New England National Bank of Boston, Mass.14
(14915), with
and The Merchants National Bank of Boston, Mass.
(475), which had.
consolidated Dec. 31,1960, under charter of the latter
bank (475), and title "New England Merchants
NationalBank of Boston.'' The consolidated bank
at date of consolidation had -
Surplus
Undivided
profits
Total
assets
$200,000
$800,000
$862,345
$26,055,852
4,749,415
6,000,000
2,255,651
208,623,293
5,499,415
50,000
7,000,000
60,000
2,367,996
33,147
234,679,144
1,340,165
50,000
100,000
32,983
1,300,394
110,000
25,000
150,000
65,000
66,130
76,194
2,640,559
1,566,530
285,000
285,000
238,230
12,199,601
340,000
340,000
294,424
13,766,130
800,000
800,000
480,706
28,993,792
7,250,000
15,000,000
2,746,019
290,593,792
8,130,000
600,000
16,000,000
1,080,000
2,946,725
463,530
318,173,785
27,410,336
450,000
550,000
930,000
1,770,000
523,755
100,000
480,000
41,785
5,502,547
700,000
1,000,000
514,206
18,444,915
23,947,461
12,723,637
40,133,973
950,000
1,480,000
405,991
2,400,000
3,300,000
1,371,258
78,915,820
6,300,000
15,500,000
2,328,298
273,495,548
8,700,000
18,800,000
3,699,556
352,411,368
With 1 branch each at Pelican and Mt. Edgecumbe.
With 4 local branches.
3 With 4 local branches and 1 each at Randallstown, Eastpoint Shopping Center, 6929 Liberty Road, and
Security Boulevard and Gwynn Oak Avenue.
4 With 13 local branches and 3 in Raleigh.
6 With 1 branch at Harrison.
« With 1 local branch.
i With 2 local branches and 1 each in North Bergen and Weehawken.
8 With 4 local branches.
• With 1 branch at St. Albans and 1 at Laurelton.
With 1 branch in Woodbury Heights.
" With 1 local branch.
12 With 3 local branches.
13 With 2 local branches and 1 each in Vermilion and Amherst.
14
With 1 local branch.
1
2
122
REPORT OF THE COMPTROLLER OF THE CURRENCY
N O . 10.—Mergers of national banks, or national and State banks, during
the year ended Dec. 81, 1960, under sees. 4 and 5 of the act of Nov. 7, 1918, as
amended
TABLE
Capital
stock
The Fultonville National Bank, Fultonville, N . Y .
(2869), with
and The National Commercial Bank and Trust
Company of Albany, N . Y . (1301), which had
merged Jan. 22,1960, under charter and title of the
latter bank (1301). The merged bank at date of
merger had...
The Black Rock Bank and Trust Company, Bridgeport, Conn.i, with
and The National Bank & Trust Company of Fairfield County, Stamford, Conn. (4), which had . . .
merged Feb. 15,1960, under charter and title of the
latter bank (4). The merged bank at date of
merger had
The First National Bank of Florence, N.J. (10831),
with
and The Mechanics National Bank of Burlington,
N.J. (1222), which had
merged Mar. 4, I960, under charter of the latter
bank (1222), and title "Mechanics National Bank
of Burlington." The merged bank at date of
merger had-.The Citizens National Bank of Orange, Va. (7150),
with.
and The Peoples National Bank of Charlottesville,
Va. (2594), which had
merged Mar. 16,1960, under charter and title of the
latter bank (2594). The merged bank at date of
merger had...
The First National Bank of Rockland, Me. (13734),
with
and First Portland National Bank, Portland, Me.
(4128), which had
merged Mar. 31, 1960, under charter of the latter
bank (4128), and title "First National Bank of
Portland." The merged bank at date of merger
had...
—
Shiremanstown State Bank, Shiremanstown, Pa.,
with
and The Harrisburg National Bank, Harrisburg,
Pa. (580), which had
merged June 24,1960, under charter and title of the
latter bank (580). The merged bank at date of
merger had
The First National Bank of Kings Mountain, N . C .
(5451), with
and First Union National Bank of North Carolina,
Charlotte, N.C. (9164), which had
merged June 24,1960, under charter and title of the
latter bank (9164). The merged bank at date of
merger had
The Thomaston National Bank, Thomaston, Me.
(1142), with
The First National Bank of Bath, Me. (2743), with,
and First National Bank of Portland, Me. (4128),
which had
merged June 24,1960, under charter and title of the
last-named bank (4128). The merged bank at
date of merger had
The State Bank of West Terre Haute, Ind., with
and Terre Haute First National Bank, Terre
Haute, Ind. (47), which had-...
merged June 30,1960, under charter and title of the
latter bank (47). The merged bank at date of
merger had
The Brookville State Bank, Brookville, Kans., with.,
and The Farmers National Bank of Salina, Kans.
(4742), which had.
merged June 30,1960, under charter and title of the
latter bank (4742). The merged bank at date of
merger had
Woodburn State Bank, Woodburn, Ind., with
and Fort Wayne National Bank, Fort Wayne, Ind.
(13818), which had
merged June 30,1960, under charter and title of the
latter bank (13818). The merged bank at date of
merger had...
See footnotes at end of table.
Surplus
Undivided
profits
Total
assets
$50,000
$125,000
$55,572
$2,208,378
6,219,120
11,866,745
3, 679,887
331,268,666
6,282,870
11,866,745
3,846,705
333,477,044
540,000
960,000
305,846
17,816,362
2,904,750
5,040,000
578,300
132,934,441
3,714,750
6,000,000
613,787
150,753,479
70,000
100,000
73,899
3,075,422
437,500
462,500
243,933
13,391,725
437,500
462,500
158,762
16,370,576
125,000
600,000
91,917
9,631,711
1,868,960
3,451,040
2,313,139
71,617,563
2,193,960
3,851,040
2,395, 625
81,239,844
125,000
300,000
171,705
6,343,870
2,250,000
2,750,000
677,501
62,837,551
2,475,000
3,050,000
749,206
69,181,421
50,000
14,000
13,307
1, 528,633
1,025,391
2,000,000
904, 581
42,275,167
1,050,391
2,149,610
807,277
46,803,800
100,000
200,000
157,904
3,676,241
2,975,000
8,025,000
3,110, 999
145, 763,838
3,050,000
7,950,000
3, 535,192
149,171,396
100,000
200,000
200,000
400,000
155,338
160,187
3,558,937
3,529,925
2,475,000
3,050,000
840,653
70,880,647
2,935,000
100,000
3,650,000
125,000
996,178
98,063
77,969,509
4,985,713
1,000,000
2,000,000
1,763,103
60,029,778
1,080,000
50,000
2,420,000
50,000
1,586,166
36,409
65,015,491
1,046,204
200,000
625,000
190,367
13,847,953
225,000
100,000
700,000
100,000
226,776
163, 279
14,589,337
4,891,736
2,400,000
2,400,000
1, 520,236
91,619,943
2,600,000
2,600,000
1,483, 515
96,217,940
123 REPORT OF THE COMPTROLLER OF THE CURRENCY
N O . 10.—Mergers of national banks, or national and State banks, during
the year ended Dec. 31, 1960, under sees. 4 and 5 of the act of Nov. 7, 1918, as
amended—Continued
TABLE
Capital
stock
The First National Bank of Greenport, N . Y . 2 (334),
with
and Valley Stream National Bank and Trust Company, Valley Stream, N . Y . (11881), which h a d . . .
merged July 8, 1960, under charter of the latter
bank (11881), and title "Valley National Bank
of Long Island." The merged bank at date of
merger had
The Bank of Mid-America Savings and Trust Company, Oklahoma City, Okla., with
and The Liberty National Bank and Trust Company of Oklahoma City, Okla. (11230), which had.
merged Aug. 12,1960, under charter and title of the
latter bank (11230). The merged bank at date of
merger had
Merchants & Farmers Bank of Statesville, Incorporated, Statesville, N.C.», with
and North Carolina National Bank, Charlotte,
N.C. (13761), which had
merged Oct. 7,1960, under charter and title of the
latter bank (13761). The merged bank at date
of merger had_
National Bank of Commerce of Gastonia, N.C. 4
(14291), with
and First Union National Bank of North Carolina,
Charlotte, N.C. (9164), which had
merged Oct. 18, 1960, under charter and title of the
latter bank (9164). The merged bank at date of
merger had
State Bank & Trust Company, Brunswick, Ga., with,
and American National Bank of Brunswick, Ga.
(14483), which had
merged Oct. 28, 1960, under charter and title of the
latter bank (14483). The merged bank at date of
merger had
The Peoples National Bank of Bedford, Va. (11328),
with
and The First National Exchange Bank of Roanoke,
Va. (2737), which had
merged Oct. 31, 1960, under charter and title of the
latter bank (2737). The merged bank at date of
merger had
The Citizens National Bank of Hollidaysburg, Pa.
(6874), with
and The First National Bank of Altoona, Pa. (247),
which had
merged Oct. 31, 1960, under charter and title of the
latter bank (247). The merged bank at date of
merger had
Lincoln Bank and Trust Company, Louisville, Ky. 5 ,
with
and The First National Bank of Louisville, Ky.
(109), which had
merged Nov. 11, 1960, under charter of the latter
bank (109), and title "First National Lincoln
Bank of Louisville." The merged bank at date of
merger had
Kaspar American State Bank, Chicago, 111., with
and Central National Bank in Chicago, 111. (14362),
which had.
merged Nov. 30,1960, under charter and title of the
latter bank (14362). The merged bank at date of
merger had
Studio City Bank, Studio City, Los Angeles, Calif.,
with
and City National Bank of Beverly Hills, Calif.
(14695), which had..
merged Nov. 30, 1960, under charter and title of the
latter bank (14695). The merged bank at date of
merger had
The Salem National Bank, Salem, N . Y . (7588), with
and The Manufacturers National Bank of Troy,
N . Y . (721), which had
merged Nov. 30,1960, under charter and title of the
latter bank (721). The merged bank at date of
merger had
See footnotes at end of table.
Surplus
Undivided
profits
Total
assets
$100,000
$250,000
$126,095
$5,658,689
943,900
1,800,000
317,048
45,074,807
1,088,900
2,100,000
348,153
50,733,495
800,000
213,500
243,570
7,591,706
5,500,000
5,500,000
4,454,951
190,656,247
5,900,000
5,900,000
4,863,820
197,114,372
300,000
700,000
292,440
15,947,460
9,344,500
25, 655,500
3,259,296
455,540,803
9,719,500
26,280,500
3,551,736
469,990,442
500,000
1,000,000
232,831
16,385,747
6,100,000
6,400,000
2,092,545
166,263,388
7,100,000
225,000
6,900,000
50,000
2,325,376
19,000
181,780,981
1,463,817
250,000
350,000
598,976
14,071,011
310,000
350,000
832,976
15,479,830
100,000
300,000
200,000
9,506,280
2,400,000
5,100,000
1,873,015
117,783,927
2,560,000
5,400,000
2,013,015
126,926,004
100,000
150,000
93,571
2,950,760
500,000
1,050,000
649,598
27,703,046
30,653,806
600,000
1,200,000
743,170
2,000,000
4,000.000
758,263
87,372,987
5,000,000
7,500,000
3,448,258
173,890,953
7,000,000
250,000
11,500,000
225,000
4,206,520
977
261,226,998
5,659,552
2,500,000
3,000,000
1,953,626
106,068,276
2,750,000
3,000,000
2,179,603
111,727,828
434,700
306,293
28,464
5,954,582
5,733,000
7,999,000
1,109,201
107,389,969
6,075,325
50,000
8,397,668
100,000
1,137,666
166,454
113,344,550
2,325,171
1,500,000
1,500,000
1,759,674
62,760,824
1,562,500
1,600,000
1,913,629
65,085,455
124
REPORT OF THE COMPTROLLER OF THE CtTRREHCY 124
N O . 10.—Mergers'of national banks, or national and State banks, during
the year ended Dec. 31, 1960, under sees. 4 and 5 of the act of Nov. 7, 1918, as
amended—Continued
TABLE
Capital
stock
$75,000
Bank of Middletown, Ky., with
and Liberty National Bank and Trust Company
3,750,000
of Louisville, K y . (14320), which had
merged Dec. 16,1960, under charter and title of the
latter bank (14320). The merged bank at date of
4,000,000
merger had
100,000
Citizens Bank of Kirkland, Wash., with
and Peoples National Bank of Washington in
5,000,000
Seattle, Wash. (14394), which had
merged Dec. 21, 1960, under charter and title of the
latter bank (14394). The merged bank at date of
5,110,000
merger had
Peoples Bank and Trust Company, Hammonton,
200,000
N.J.«, with
and The Boardwalk National Bank of Atlantic
3,000,000
City, N.J. (8800), which had
merged Dec. 30,1960, under charter and title of the
latter bank (8800). The merged bank at date of
3,450,000
merger had
The First National Bank of Winston-Salem, N.C.7
1,000,000
(14147), with
and North Carolina National Bank, Charlotte,
9,719,500
N . C . (13761), which had
merged Dec. 30, 1960, under charter and title of the
latter bank (13761). The merged bank at date of
10,496,500
merger had
52,500
The National Bank of Wrentham. Mass. (1085), with,
and South Shore National Bank of Quincy, Mass.
(14798), which had
1,450,000
merged Dec. 31, 1960, under charter and title of the
latter bank (14798). The merged bank at date of
merger had
1,482,825
i With
> With
« With
* With
» With
« With
i With
Surplus
$180,000
Undivided
profits
$145,035
Total
$4,131,938
127,457,589
4,250,000
4,500,000
50,000
1,848,713
84,582
131,589,527
2,566,424
5,000,000
6,058,808
231,093,533
5,110,000
6,082,105
233,489,471
400,000
310,885
12,264,519
3,750,000
393,236
116,030,175
3,900,000
704,121
128,294,695
1,000,000
127,264
26,960,073
26,280,500
3,577,072
499,793,147
27,530,500
52,500
3,704,336
46,574
525,023,551
1,804,187
2,800,000
163,641
57,221,628
2,872,175
210,217
59,025,815
1 branch each in Trumbull and Fairfield.
1 branch at Shelter Island.
1 local branch and 1 each in Harmony and Troutman.
2 local branches.
4 local branches and 1 branch at 4304 Shelbyville Road.
1 local branch.
2 local branches.
TABLE NO.
11.—Number of domestic branches of national banks authorized during
the year ended Dec. 31, 1960
Charter
No.
Title and location of bank
Branches authorized
under act of Feb. 25,
1927, as amended
Local
ALABAMA
3185
14569
10990
4067
13414
The First National Bank of Birmingham
Birmingham Trust National Bank, Birmingham.
The First National Bank of Guntersville
The First National Bank of Huntsville.
The American National Bank & Trusjt Company of Mobile..
12072
14691
14651
5117
The First National Bank of Anchorage
City National Bank of Anchorage
National Bank of Alaska, Anchorage
The First National Bank of Juneau
12198
3728
14324
The First National Bank of Holbrook
First National Bank of Arizona, Phoenix...
The Valley National Bank of Phoenix
ALASKA
ARIZONA
Other
than
local
Total
REPORT OF THE COMPTROLLER OF THE CURRENCY
125
No. 11.—Alumber of domestic branches of national banks authorized during
the year ended Dec. 31, 1960—Continued
Title and location of bank
barter
No.
Branches authorized
under act of Feb. 25,
1927, as amended
Local
Other
than
local
Total
ARKANSAS
1950
10609
2832
7138
The
The
The
The
First National Bank of Fort Smith
City National Bank of Fort Smith
Arkansas National Bank of Hot Springs..
State National Bank of Texarkana.
14695
14670
12904
14725
14823
5927
2491
6919
10931
3050
10391
13044
9655
1741
12640
10571
City National Bank of Beverly Hills
Community National Bank of Button willow 1
The Capital National Bank of Compton
Valley First National Bank, Cupertino
Valley National Bank, Glendale..
Citizens National Bank, Los Angeles
Security First National Bank, Los Angeles
Central Valley National Bank, Oakland.
The American National Bank of San Bernardino
The First National Trust and Savings Bank of San Diego
The United States National Bank of San Diego
Bank of America National Trust and Savings Association, San Francisco.
The Bank of California, National Association, San Francisco
Crocker-Anglo National Bank, San Francisco
First National Bank in San Rafael
The Farmers and Merchants National Bank of Santa Cruz
CALIFORNIA
COLORADO
2179
The First National Bank of Colorado Springs
CONNECTICUT
335
1338
227
1193
4
14627
780
The Connecticut National Bank, Bridgeport
Hartford National Bank and Trust Company, Hartford
The Second National Bank of New Haven
The First National Bank of New Milford
The National Bank & Trust Company of Fairfield County, StamfordFirst National Bank of Thompsonville.
The Waterbury National Bank, Waterbury
DISTRICT OF COLUMBIA
14550
3425
Anacostia National Bank of Washington..
The National Bank of Washington
9617
1860
14483
7549
3830
13068
The Fulton National Bank of Atlanta
The First National Bank & Trust Company of AugustaAmerican National Bank of Brunswick
The Calhoun National Bank, Calhoun...
The First National Bank of Marietta
The Citizens and Southern National Bank, Savannah—
GEORGIA
5550
First National Bank of Hawaii, Honolulu..
IDAHO
1668
The Idaho First National Bank, Boise
8415
The Bloomington National Bank, Bloomington
Warrick National Bank of Boonville
Old National Bank in Evansville
Fort Wayne National Bank, Fort Wayne
Lincoln National Bank and Trust Company of Fort Wayne
American Fletcher National Bank and Trust Company, Indianapolis.
INDIANA
14218
12444
13818
7725
13759
See dotnotes at end of table.
59802)6—'61
9
1
1
1
1
4
21
1
1
4
2
44
2
10
1
1
26
ABLE
130 REPORT OF THE COMPTROLLER OF THE CURRENCY
N o . 11.—Number of domestic branches of national banks authorized during
the year ended Dec. 31, 1960—Continued
Title and location of bank
barter
No.
Branches authorized
under act of Feb. 25,
1927, as amended
Local
Other
than
local
Total
INDIANA—continued
984
869
377
9381
14921
2234
14047
7665
4652
47
14874
14382
3842
8603
2469
2763
117
The Indiana National Bank of Indianapolis
Merchants National Bank & Trust Company of Indianapolis
First National Bank and Trust Company of La Porte
The Merchants National Bank of Michigan City
American National Bank and Trust Company of Muncie
The Merchants National Bank of Muncie
The Union National Bank of New Albany
The First National Bank of Rochester
The Seymour National Bank, Seymour..
Terre Haute First National Bank, Terre Haute
First National Bank, Valparaiso
First National Bank of Warsaw
The Peoples National Bank and Trust Company of Washington..
The
The
The
The
Peoples National Bank of Albia
City National Bank of Clinton
Fort Dodge National Bank, Fort Dodge..
First National Bank of Marion
KANSAS
3324
3584
182
9768
12346
The First National Bank of Coffeyville
The First National Bank of Lawrence
The First National Bank of Leavenworth
Stockyards National Bank, Union Stock Yards (P.O. Wichita).
The Southwest National Bank of Wichita
9365
14840
109
14320
2185
4765
13023
The American National Bank and Trust Company of Bowling Green.
Citizens Union National Bank & Trust Company, Lexington
The First National Bank of Louisville 3
Liberty National Bank and Trust Company of Louisville
The M t . Sterling National Bank, Mount Sterling
The Newport National Bank, Newport
Citizens National Bank of Paintsville
KENTUCKY
LOUISIANA
9834
13732
14763
6023
14477
13689
3595
Louisiana National Bank of Baton Rouge
The First National Bank of Jefferson Parish at Gretna..
The National Bank of Commerce in Jefferson Parish
The First National Bank of Lafayette
National American Bank of New Orleans
The National Bank of Commerce in New Orleans
The First National Bank of Shreveport
2311
14303
2260
4128
13768
The Camden National Bank, Camden.
The Liberty National Bank in Ellsworth
First-Manufacturers National Bank of Lewiston and Auburn, Lewiston
First Portland National Bank, Portland»
Northern National Bank of Presque Isle
1413
13745
381
13773
6623
The First National Bank of Baltimore
Fidelity-Baltimore National Bank, Baltimore
The First National Bank and Trust Company of Cumberland.
Patapsco National Bank in Ellicott City
The First National Bank of Oakland
MAINE
MARYLAND
Seel
Seefootnotesat end of table.
3
10
1
1
1
127 REPORT OF THE COMPTROLLER OF THE CURRENCY
N o . 11.—Number of domestic branches of national banks authorized during
the year ended Dec. 81, 1960—Continued
Title and location of bank
harter
No.
Branches authorized
under act of Feb. 25,
1927, as amended
Local
Other
than
local
Total
MASSACHUSETTS
200
14915
475
2152
2504
7452
2275
1047
14798
416
1022
14850
The First National Bank of Boston
New England National Bank of Boston
New England Merchants National Bank of Boston.
The Home National Bank of Brockton
National Bank of Plymouth County, Brockton
The Danvers National Bank, Danvers
The Home National Bank of Milford
The Merchants National Bank of Newburyport
South Shore National Bank of Qunicy
The First-Machinists National Bank of Taunton....
Blackstone Valley National Bank of Whitinsville...
Worcester County National Bank, Worcester
14925
13738
13671
8496
13741
13753
5607
14918
10498
13807
City National Bank of Detroit
Manufacturers National Bank of Detroit
National Bank of Detroit
The Escanaba National Bank, Escanaba.
The National Bank of Jackson
First National Bank of Niles
The First National Bank of Petoskey
National Bank and Trust Company of Traverse City..
The First National Bank of Watervliet__
The National Bank of Ypsilanti
10361
14538
7266
The National Bank of Commerce of Columbus..
National Bank of Commerce of Corinth
The Citizens National Bank of Meridian
4611
3456
11472
6272
14128
The First National Bank of Cape Girardeau.The First National Bank of Kansas City
The Columbia National Bank of Kansas City
The Tootle-Enright National Bank, Saint Joseph, MissouriSouth Side National Bank in St. Louis
2779
14340
1798
7239
3379
2978
9581
9908
The First National Bank of Grand Island..
The Commercial National Bank of Grand Island.
First Continental National Bank & Trust Company, LincolnNational Bank of Commerce of Lincoln
The First National Bank of McCook
The United States National Bank of Omaha
The Scottsbluff National Bank, Scottsbluff
Stock Yards National Bank of South Omaha
14406
The Security National Bank of Reno
MISSISSIPPI
MISSOURI
NEBRASKA
NEVADA
NEW HAMPSHIRE
318
Concord National Bank, Concord
-
N E W JERSEY
Asbury Park-Manasquan National Bank, Asbury Park..
8800 The Boardwalk National Bank of Atlantic City
10224 The First National Bank of Bradley Beach
1222 Mechanics National Bank of Burlington
6912 The First National Bank of Butler
4365 Citizens National Bank of Englewood
14457 Haddonfield National Bank, Haddonfield
1182 Hudson County National Bank, Jersey City
Seel Seefootnotesat end of table.
13363
10
2
3
1
1
1
1
2
1
1
28
132 REPORT OF THE COMPTROLLER OF THE CURRENCY
ABLE
No. 11.—Number of domestic branches of national banks authorized during
the year ended Dec. 31, 1960—Continued
Title and location of bank
harter
No.
Branches authorized
under act of Feb. 25,
1927, as amended
Local
Other
than
local
Total
NEW JERSEY—continued
10376
9339
1316
587
8129
2257
5005
14177
13898
12425
13848
6278
1199
12606
Keansburg-Middletown National Bank, Middletowa
Montclair National Bank and Trust Company, Montclair
The National Newark and Essex Banking Company of Newark..
The National Bank of New Jersey, New Brunswick
The Peoples National Bank and Trust Company of Pemberton..
The Monmouth County National Bank, Red Bank
National Community Bank of Rutherford
The Sea Bright National Bank, Sea Bright
First National Bank of Spring Lake.
The Union Center National Bank, Union
Belmar-Wall National Bank, West Belmar
The Marine National Bank of Wildwood
First County National Bank and Trust Company, Woodbury...
The Yardville National Bank, Yardville
13814
5220
First National Bank in Albuquerque..
The First National Bank of Roswell..
1301
412
202
8240
5648
11511
13004
13126
11087
6587
548
955
4925
11897
12997
13314
13955
1461
8194
The National Commercial Bank and Trust Company of Albany
The First National Bank of Aurora
First-City National Bank of Binghamton
The Gramatan National Bank and Trust Company of Bronxville
The First National Bank of Caledonia.
The Tinker National Bank of East Setauket
The Endicott National Bank, Endicott.
The First National Bank of Glen Head
The Long Island National Bank of Hicksville
Security National Bank of Long Island, Huntington
The First National Bank of Jamestown
The State of New York National Bank, Kingston
The Sullivan County National Bank of Liberty
The Citizens National Bank of M a l o n e . . .
The Franklin National Bank of Long Island, Mineola*
Nanuet National Bank, Nanuet
First Westchester National Bank of New Rochelle
The First National City Bank of New Y o r k . . .
T^he Richmond County National Bank of Port Richmond, Staten Island, New York
The Peoples National Bank of Patchogue.
Scarsdale National Bank and Trust Company, Scarsdale
First National Bank of Scotia
Rockland National Bank, Suffern
Lincoln National Bank and Trust Company of Central New York,
Syracuse
The Manufacturers National Bank of Troy
Valley Stream National Bank and Trust Company, Valley Stream 5 The National Bank of Delaware County, Walton
First National Bank of Waterloo
The Meadow Brook National Bank of Nassau County, West Hempstead^
a
National Bank of "Westchester, White Plains
N E W MEXICO
NEW YORK
12788
11708
14680
5846
13393
721
11881
4495
368
7703
10525
11
2
NORTH CAROLINA
8953
9164
13779
8844
13761
10610
10608
14527
14147
See i
The First National Bank of Asheboro—1
First Union National Bank of North Carolina, Charlotte
The Citizens National Bank in Gastonia
The National Bank of Alamance of Graham
Security National Bank of Greensboro?
Southern National Bank of Lumberton
The Planters National Bank & Trust Company of Rocky M o u n t First National Bank of Whitesville
The First National Bank of Winston-Salem
Seefootnotesat end of table.
13
1
4
1
1
26
2
1
1
3
129 REPORT OF THE COMPTROLLER OF THE CURRENCY
N o . 11.—Number of domestic branches of national banks authorized during
the year ended Dec. 31, 1960—Continued
Title and location of bank
harter
No.
Branches authorized
under act of Feb. 25,
1927, as amended
Local
OHIO
14579
5075
2302
76
5523
24
14761
7745
5065
1788
14290
4842
3234
6667
4792
5214
7862
2160
7795
First National Bank of Akron.. _
The Northeastern Ohio National Bank of Ashtabula, Ohio
The First National Bank of Bellevue
First National Bank of Canton
The First National Bank of Celina
The First National Bank of Cincinnati
Society National Bank of Cleveland
The Huntington National Bank of Columbus
The Ohio National Bank of Columbus
The Merchants National Bank and Trust Company of Dayton.
The Lorain National Bank, Lorain
.
—
The Old Phoenix National Bank of Medina
The Milford National Bank, Milford
The Peoples National Bank of Mount Pleasant-.
The Third National Bank of Sandusky.
The First National Exchange Bank of Sidney..
The Citizens Baughman National Bank of Sidney.
The First National Bank and Trust Company in Steubenville..
The Commercial National Bank of Tiffin
9586
14926
13276
14887
13891
The First National Bank of Enid
Central National Bank of Oklahoma City
Oklahoma National Bank of Oklahoma C i t y —
Penn Square National Bank of Oklahoma City.
The First National Bank at Ponca City
1553
4514
14860
The First National Bank of Oregon, Portland..
The United States National Bank of Portland.
First National Bank of Roseburg
OKLAHOMA
PENNSYLVANIA
373
6645
247
568
2900
593
5118
7312
6220
611
14055
580
4965
13900
240
5502
4625
2222
253
2581
539
213
6301
705
649
1946
8223
4355
4879
30
197
See
The First National Bank of Allentown
The Merchants National Bank of Allentown
The First National Bank of Altoona...
The First National Bank of Berwick
The Farmers National Bank and Trust Company of Boyertown.
The National Bank of Chambersburg
The Northampton National Bank of Easton
The First National Bank of Edinboro
The First National Bank of Everett.
The Gettysburg National Bank, Gettysburg
First National Bank in Greensburg.
The Harrisburg National Bank, Harrisburg
Union National Bank and Trust Company of Huntingdon
United States National Bank in Johnstown
The First National Bank of Lebanon.
The First National Bank of Leechburg
The National Bank of McKeesport-Western Pennsylvania National Bank, McKeesport.
The First National Bank of Milton
The Peoples National Bank of Norristown
The Philadelphia National Bank, Philadelphia
Second National Bank of Philadelphia
Mellon National Bank and Trust Company, Pittsburgh
The Union National Bank of Pittsburgh
The Miners National Bank of Pottsville
Third National Bank and Trust Company of Scranton
The National Bank of Topton.
Fiist Blair County National Bank of Tyrone.
The Warren National Bank, Warren
The First National Bank of Wilkes-Barre
The First National Bank of York
i Seefootnotesat end of table.
Other
than
local
Total
130
REPORT OF THE COMPTROLLER OF THE CURRENCY
TABLE NO.
11.—Number of domestic branches of national banks authorized during
the year ended Dec. 81, 1960—Continued
Title and location of bank
Charter
No.
Branches authorized
under act of Feb. 25,
1927, as amended
Local
RHODE ISLAND
1302
1284
Industrial National Bank of Providence
The Centreville National Bank of Warwick..
SOUTH CAROLINA
2044
13720
10536
10085
14211
The Citizens and Southern National Bank of South Carolina, Charleston..
The South Carolina National Bank of Charleston
The First National Bank of South Carolina of Columbia..
The Conway National Bank, Conway
Marion National Bank, Marion
The Commercial National Bank of Spartansburg
4631
14099
12881
10592
First National Bank of the Black Hills, Rapid City..
The Rapid City National Bank, Rapid City
The National Bank of South Dakota, Sioux F a l l s —
Northwest Security National Bank of Sioux F a l l s —
2168
3576
12790
13539
336
13103
The First National Bank of Crossville
The First National Bank of Jackson
The Second National Bank of Jackson
The National Bank of Commerce of Jackson.
The Hamilton National Bank of Knoxville...
The First National Bank of Memphis
Third National Bank in Nashville
14425
SOUTH DAKOTA
TENNESSEE
UTAH
2597
4341
First Security Bank of Utah, National Association, Ogden.
Zions First National Bank, Salt Lake City
-
13915
Montpelier National Bank, Montpelier.
4477
10618
2594
6389
13275
13775
1558
10194
11381
10080
2737
14824
2269
6126
The Dominion National Bank of Bristol
National Bank and Trust Company at Charlottesville.
The Peoples National Bank of Charlottesville
The National Bank of Fairfax
The Citizens National Bank of Front Royal
The Citizens National Bank of Hampton
First National Trust and Savings Bank of Lynchburg..
The Seaboard Citizens National Bank of Norfolk
American National Bank of Portsmouth
The Central National Bank of Richmond
The First National Exchange Bank of Roanoke
Fairfax County National Bank, Seven Corners
The Augusta National Bank of Staunton
The Fauquier National Bank of Warrenton
See footnotes at end of table.
Other
than
local
Total
REPORT OF THE COMPTROLLER OF THE CtTRREHCY
TABLE NO.
11.—Number of domestic branches of national banks authorized during
the year ended Dec. 31, 1960—Continued
Title and location of bank
Charter
No.
Branches authorized
under act of Feb. 25,
1927, as amended
Local
WASHINGTON
4375
13230
14394
11280
13331
4668
3417
The First National Bank of Everett—
The National Bank of Commerce of Seattle.
The Pacific National Bank of Seattle
Peoples National Bank of Washington in Seattle.
Seattle-First National Bank, Seattle
First National Bank in Spokane
The Old National Bank of Spokane
National Bank of Washington, Tacoma..
WISCONSIN
2725
8281
131
The Second National Bank of Beloit.
The Union National Bank of Eau Claire.
First National Bank in Oshkosh
Total (310 banks).
1 Title changed to "Community National Bank of Kern County."
2 Title changed to "First National Lincoln Bank of Louisville."
« Title changed to "First National Bank of Portland."
4 Location of Head Office formerly "Franklin Square."
8 Title changed to "Valley National Bank of Long Island," Valley Stream,
e Title changed to " T h e Meadow Brook National Bank," Springfield Gardens.
' Title and location changed to "North Carolina National Bank," Charlotte.
Other
than
local
Total
132
REPORT OF THE COMPTROLLER OF THE CtTRREHCY 132
TABLE NO.
12.—Number of domestic branches of national banks closed during the
year ended Dec. 81, 1960
Branches closed
Charter
No.
Title and location of bank
14670
2491
10391
13044
Community National Bank of Buttonwillow
Security First National Bank, Los Angeles.
The United States National Bank of San Diego
Bank of America National Trust and Savings Association, San Francisco.. _
First National Bank in San Rafael
Local
Other
than
local
CALIFORNIA
12640
COLORADO
2179
The First National Bank of Colorado Springs
GEORGIA
14785
The Augusta Citizens and Southern National Bank, Augusta
13759
American Fletcher National Bank and Trust Company, Indianapolis.
14320
The American National Bank and Trust Company of Bowling Green..
Liberty National Bank and Trust Company of Louisville
INDIANA
KENTUCKY
MAINE
4128
First National Bank of Portland
7038
First National Bank of Nevada, Reno, Nevada..
NEVADA
NEW YORK
12997
12892
The Franklin National Bank of Long Island, Mineola.
Lafayette National of Brooklyn in New York
14147
The First National Bank of Winston-Salem
NORTH CAROLINA
OHIO
The First National Bank of Cincinnati
PENNSYLVANIA
2428
723
6301
252
604
The Bradford National Bank, Bradford.
Central-Penn National Bank of Philadelphia
Mellon National Bank and Trust Company, Pittsburgh..
Pittsburgh National Bank, Pittsburgh.
The York National Bank and Trust Company, York
RHODE ISLAND
1302
Industrial National Bank of Providence
2044
The South Carolina National Bank of Charleston. _
SOUTH CAROLINA
TENNESSEE
336
The First National Bank of Memphis
VERMONT
1430
Vermont National and Savings Bank, Brattleboro..
Total (25 banks)
16
17
Total
TABLE NO.
13.—Principal items of assets and liabilities of national banks, by size of banks, according to deposits, Dec. 81, 1959 and 1960
[In thousands of dollars]
Loans and securities
Number of
banks
Total
U.S.
Loans
Governand disment obcounts,
including ligationsdirect and
redisguarancounts
teed
and overdrafts
Other
bonds
and
securities
Cash,
balances
with
other
banks,
including
reserve
with
Federal
Reserve
banks
Deposits
Real
estate
assets
Total
assets
Capital
stock
Surplus,
profits
and
reserves
Total
Demand
Time
1959
Banks with deposits of—
Less than $500,000
$500,000 to $750,000—
$750,000 to $1,000,000
$1,000,000 to $2,000,000
$2,000, 00 to $5,000,000
$5,000,000 to $10,000,000
$10,000,000 to $25,000,000—
$25,000,000 to $50,000,000—
$50,000,000 to $100,000,000$100,000,000 to $500,000,000 $500,000,000 or more—
Total-
-
4,692
2,428
14
22,457
11,921
42
56,357
26,728
69
714,323
331,116
518
1,437 4,317,629 2,033,532
1,093 6,756,675 3,238,619
790 10,583,050 5,238,304
279 8,463,185 4,293,684
137 8,397,761 4,565,279
136 25,065,915 15,132,666
27 38,232,800 25,087,712
3,029
236
2,028
7,812
1,476
9,060
14,979
5,304
24,325
177,215
74,853
308,354
558,975 1,005,696
1,725,122
925,476 1,533,443
2,592,580
3,977,813 1,366,933 2,377,558
991,890 1,925,871
3,177,611
984,843 2,130,690
2,847,639
7,627,562 2,305,687 7,980,864
9,468,876 3,676,212 10,307,088
206
173
667
7,708
62,609
106,624
189,934
160,577
149,957
450,234
536,140
1,153
7,932
830
2,504
30,453
1,198
72,040
6,430
3,163
900,069
26,821
71,378
5,391,896
129,902
369,004
8,409,081
187,398
503,867
13,179,839
287,407
699,056
10,588,667
240, 769
506,027
10,725, 666
251,062
525, 640
33,691,616
783,035 1,694,589
49,638,854 1,258,157 2,752,727
729
5,167
5,896
4,472
22,082
26,554
15,856
46,308
62,164
256,784
540,879
797,663
4,863,710 3.130.651 1,733,059
7,645,866 4,756,536 2,889,330
12,031,165 7,474,877 4,556,288
9,687,899 6,293,146 3,394,753
9,759,005 6.710.652 3,048,353
30,529,779 23,175,859 7,353,920
44,227,976 30,546,957 13,681,019
4,542 102,614,844 59,961,989 31,760,970 10,891,885 27,464,245 1, 664,829 132, 636,113 3,169,742 7,132,375 119,637,677 82,703,114 36,934,563
1960
Banks with deposits of—
Less than $500,000
$500,000 to $750,000—
$750,000 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 $25,000,000-_.
$25,000,000 to $50,000,000--.
$50,000,000 to $100,000,000. _
$100,000,000 to $500,000,000 .
$500,000,000 or more
Total-
908
755
7,610
2,692
1,490
28,813
5,806
2,275
65, 612
71,895
27,395
857,810
378,375
133,956
5,353,390
538,488
198,711
8, 566,443
768,829
310,466
13,729,337
533,949
245,681
10,479,983
512, 633
246,493
10,225, 672
834,804 1,864,171
35,860,250
54,085,947 1,340,824 3,077, 742
725
5,180
5,905
4,109
24,424
20,315
15,127
57,290
42,163
249,083
754, 653
505,570
4,807,154 3,047,468 1,759,686
7,749,012 4,689,166 3,059,846
12.440.179 7,578,838 4,861,341
9,511, 698 6,000,934 3,510,764
9,279,587 6,188,067 3,091,520
32.382.180 24,018,747 8,363,433
47,898,769 32,657,606 15,241,163
4,530 107,545,862 63,693,668 32,711,723 11,140,471 28,674, 506 1,910,299 139,260,867 3,342,850 7,755,488
124,910.851 84.754,054 40,156,797
2,174
245
1,838
5,138
3,055
14
7,886
1,321
7,452
11, 629
20,402
39
14,121
4, 738
19,845
26,214
50, 797
64
172,305
66,985
268,498
341,127
488
676, 610
530,869 1,005,268
1,414 4, 274,839 2,143,201 1,600,769
934,752 1,537,430
1,104 6,900,021 3,496, 699 2,468,570
815 11,034,585 5,701,532 3,942,188 1,390,865 2,455,071
909,769 1,858,714
276 8,410,772 4,483,300 3,017,703
909,701 2,007,077
135 8,028,874 4,359,077 2,760,096
150 26, 670,918 16,240,773 7,985,356 2,444,789 8,488,859
31 41,472,906 26,887,061 10.639,408 3,946,437 11,125,601
279
507
624
8,261
67,269
116,156
210,361
171,124
147,187
501,432
687,099
TABLE N O . 14.—Time
deposits of national banks, June 15, 1960
[In thousands of dollars]
CO
Deposits of individuals, partnerships, and corporations
Location
Savings 1
Open
accounts
of
banks'
own
trust
departments
Certificates of
deposit
1,758
1,177
1,048
12,370
3,023
4,992
1,843
116
144
33,172
3,000
1,600
1,362
1,806
837
9,302
1,374
1,319
213
32
61
14,495
140
2,415
125,790
57,823
122,590
463,725
244,950
259,582
832
140
59
4,248
290
1,405
7
10
3
781
24
825
13,413
155
599
135,091
26,510
69,685
12,796
24
156
5,005
22
12,998
Deposits acChristcumumas
lated for savings
payand
ment of similar
peracsonal
counts
loans
Other
open accounts
Total
U.S.
Government
120,612
54,661
120,119
391,395
237,413
249,253
Total New
England
States
1,173,453
3,408
24,368
39,875
16,000
17,356
1,274,460
6,974
New York
2,532,151
1,626,414
New Jersey
2,811,055
Pennsylvania
3,876
Delaware
~
242,392
Maryland..
148,530
District of Columbia-
30,200
2,038
5,071
90,690
15,438
88,002
56,615
23,999
112,996
20
2,874
14,370
186,941
9,454
42,481
3,375
3,879
2,938,597
1,712,742
3,113,529
3,959
257,087
172,473
10,403
2,832
3, 545
1,196
4,085
42,000
35,399
53,924
63
3,634
1,609
7,364,418
42,590
136,629
197,746
210,874
246,130
582,931
205,612
114,066
82,355
255,561
634, 253
353,170
66,345
349,834
1,051,417
121,711
159,845
546,213
1,166
14
2,332
9,623
2,986
3,042
4,173
2,894
4, 247
3,580
1,339
3,734
3,008
729
3,883
4,838
8,871
1,372
266
2,400
5,801
7,153
100
2,667
31,619
924
1,984
5,082
14,595
5,041
13,537
2,572
23,746
24,726
20,662
18,677
33,312
220; 601
14,352
22,756
42,084
10,701
3,794
2,182
11
382
8,857
1,368
728
4,058
41,647
497
506
1,847
48,076
68,239
456,661
76,578
Virginia
West Virginia . .
North Carolina.
South Carolina
Georgia
Florida
Alabama
Mississippi
Louisiana
Texas
Arkansas
Kentucky..
Tennessee
Total Southern
States
4,523,313
3~
46"
276
2,175
10
2,294
115,634
1,062
808
125,817
3,616
Postal
savings
States
and po- Banks
litical
in
subUnited
divisions States
Banks
in
foreign
countries
Total
Savings
accounts
Christmas savings and
similar
accounts
W
ft!
O
w
O
Maine.
New Hampshire
Vermont
Massachusetts
Rhode Island
Connecticut
Total Eastern
States.
2
31
381
2,991
Number of accounts
456
836
568
10,896
517
140
145
127,085
58,809
123,220
493,946
245,781
261,137
157,925
88,974
132,140
563,913
221,466
314,053
34,608
18,900
19,136
212,642
47,263
81,099
14,151
1,309,978
1,478,471
413,648
176,964
450
3,273,851
1,742,108
3,200,464
3,959
265,964
181,190
2,188,718
1,458,606
2,243,814
3,307
226,672
107,906
608,725
482,252
865,863
762
55,618
23,303
190,364
8,667,536
6,229,023
2,036,523
533,361
191,381
154,866
106,010
244,195
463,190
315,663
77,034
447,439
905,336
99,207
135,579
437,165
168,294
76,837
49,981
81,934
50,070
79,174
64,116
24,893
70,347
55,687
14,976
78,278
84,482
4,110,426
899,069
14,151
10
12,950
3,850
7,788
479
8,198,387
28,418
1,078
236,291
627,887
218,819
135,425
91,511
288,430
679,512
381,055
87,099
395,899
1,463,926
139,275
189,782
600,064
12,740
432
2,876
4,483
2,876
5,943
1,699
1,262
1,603
14,725
66
617
1,541
109
148
51
1,080
29
15
161
38,062
598
27,354
8,577
4,527
70,333
2,548
100
5,302
326,710
1,499
9,980
30,918
60
28
830.
175
3
674
365
500
50
6,388
125
380
50
678,858
220,025
166,485
104,746
296,519
756,523
385,677
88,961
404,705
1,814,329
140,994
200,394
633,114
5,298,684
50,863
2,347
526,508
9,578
3,350
5,891,330
683
61
- 10
1,800
1,500
3
a
o
K
w
o
f
P
ftj
W
O
W
H
a
H
§
Ohio
Indiana
Illinois
Michigan
Wisconsin
Minnesota
Iowa
Missouri
Total Middle
Western States.
North Dakota
South Dakota
Nebraska
Kansas
Montana.—
Wyoming
Colorado
New Mexico
Oklahoma.
Total Western
States
Washington
Oregon
California
Idaho
Utah
Nevada
Arizona
Alaska
Hawaii
Total Pacific
States.
Total United
States (exclusive of possessions)
Virgin Islands of the
United States
Total United
States and
1,634,748
687,689
2,783,247
1,240,641
610,639
516,879
189,650
301,646
162,038
769
46,070
140
235
281
20
2,995
7,965,139
49,893
67,883
104,312
176,077
92,810
76,558
327,970
91,785
298,548
1,345
23
145
1,268
2,453
3,946
16,579
10,211
18,521
10,366
6,896
2,304
1,234
2,644
17,653
15,153
90,263
1,687
3,706
18,754
543
2,600
81,909
84,399
134,266
82,918
62,720
213,438
51,639
52,452
13,050
2,448
12,903
127,353
2,721
8,959
190
3, 541
1,925,977
800,669
3,085,270
1, 463,105
686,917
760,615
243, 276
365,878
1,209
3,587
7,036
1,151
1,649
991
1,006
2,954
160
1,146
910
30
858
68
53
1,755
150,359
763, 741
171,165
9,331,707
19,583
3,253
58
10,391
22
7,123
69,027
45,333
31,993
29,540
26,046
3,511
6,036
5,324
32,053
2,760
4,596
524
3,890
14
50
3,309
2, 869
2,248
123, 298
118,082
140,772
212,888
121,645
80,323
349,224
100,428
344, 678
20,182
248,863
20,260
1,591,338
8,818
5,719
4,450
77,038
500
1,825
1,268
1,026
35
6,065
32, 600
83,096
5,317
6,849
2,124
20,684
2,021
5,971
5, 236
6, 622
74,942
506
757, 284
661,950
6,699,371
172,311
166, 282
105,968
266,098
41, 520
78, 277
4,763
254
31,809
1,136
1,175
1,710
1,510
11,505
7,172
164, 727
89, 491
8,949,061
61,034
871,427
175, 690
8,46 i 2,067, 229
47, 797
2,827
57
273
206
1,898
1,466
322
146
1,482
428
760
1,285,836
734,448
615,765
6,390,734
165,988
157,608
100,815
240,762
39,386
69,619
318
44
5,804
2,513
73,243
(2)
1,506
2,117
78
2,222
41
1,900
647
255
1,465
1,186
136
1,779
141
1,098
490
884
2,716
37
197
14
184
11
489
77,927
37,484
119,006
64, 634
6,417
12,351
802
10,186
2,967
7,006
994
25, 216
5,939
6, 670
21,989
17, 692
2,310
2,005,378
842,991
3,252,503
1,530,037
696,223
774,046
245,137
381,096
1,709,368
735,848
2,226,908
1,194,480
590,307
580,847
232,401
320,195
299,566
179,783
287,303
184,419
90,364
46,982
21,482
40,832
9, 727, 411
7,590,354
1,150,731
126,684
126,274
141,926
239,923
127,725
88,109
371,713
119,060
350,226
59,685
84,487
166,436
180,890
79,671
60,074
242,189
100,774
223,459
4,889
4,013
29,434
22,754
5,792
2,117
23,619
6,798
13,345
1, 691, 640
1,197, 665
112, 761
770, 226
688, 227
7,678,110
173,458
181, 709
112,511
297,857
66,011
111, 410
705,730
531, 698
6,169,265
76,754
153,112
101,977
196,918
45,874
93,562
90,716
43,368
803,059
1
" 14,979
39, 377
1,037
28,408
177,251 10,079, 519
8,074,890
1,020,945
1,431
~~50'
2,050
328,807
39, 481
45
431
90, 783
580
25,959
764,563
7,300
162,541
13,763
4,833
24,222
12,966
24,541
8,515,125
374
87,483
tO, 827,284
393,953
372,292
568, 262 1,860,866
620, 980 34, 643, 637
25
10
6, 834
372,317
568,262 1,860,876
620, 980 34,650,471
175, 690
8, 464 2,070,056
909, 611
7, n05
295 1,104,356
283,407 14,094,132
165,390 18, 542,372
3,500
59,883
105,302
91,861
105
105
850
1,117
332
21
6,000
~1,~410"
19,982
o
o
#
o
t-1
r1
a
td
o
3
6,799
30,834,083
New York City (central Reserve c i t y ) . . .
638,857
Chicago (central Reserve city)
1,005,180
Other Reserve cities.._ 12,757,196
16,432,850
Country banks
393,953
10,015
5,958
160,043
227,952
1,960
123,650
87,445
1,406
86, 681
4,282
336,734
433,102
57,402 1,422,086
171,888
i As defined in Regulations D and Q of the Board of Governors of the Federal Reserve System.
424, 597 37,367,414
46
9, 764
5, 633,677
12,963
700
47,854
424, 643 37,377,178 28, 693,792
5, 634,377
17,558
10,350
175, 614
466, 291
124,544
7,800
822 1,088,849
7,642
955,849
600
23, 791
13,113
39, 431 1,155, 687
554, 668
200,792 15,468, 269 11,837,920
19, 633,084 15,834, 913
22,877
1,626,831
3,860,125
2 Less than $500.
1,120,138
m
i
oo
REPORT OF THE COMPTROLLER OF THE CtTRREHCY 136
15.—Number of national banks in United States and possessions with
surplus fund equal to or exceeding common capital stock, and the number with
surplus fund less than common capital stock 1942 to 1960
TABLE NO.
imber
Danks
Banks with surplus
equal to or exceeding
common capital stock
Number
June 30,1942..
Dec. 31,1942..
June 30,1943..
Dec. 31, 1943..
June 30, 1944..
Dec. 30,1944..
June 30,1945..
Dec. 31, 1945June 29, 1946..
Dec. 3], 1946..
June 30,1947..
Dec. 31, 1947June 30,1948..
Dec. 31, 1948..
June 30, 1949..
Dec. 31,1949..
June 30,1950..
Dec. 30,1950June 30, 1951..
Dec. 31,1951June 30, 1952..
Dec. 31,1952..
June 30, 1953..
Dec. 31,1953..
June 30,1954. .
Dec. 31, 1954June 30, 1955..
Dec. 31, 1955..
June 30,1956..
Dec. 31,1956..
June 6,1957...
Dec. 31, 1957June 23, 1958..
Dec. 31, 1958June 10, 1959Dec. 31, 1959..
June 15,1960..
Dec. 31, I960-
5,107
5,087
5,066
5,046
5,042
5,031
5,021
5,023
5,018
5,013
5,018
5,011
5,004
4,997
4,993
4,981
4,977
4,965
4,953
4,946
4,932
4, 916
4,881
4,864
4,842
4, 796
4, 751
4,700
4,675
4,659
4,654
4,627
4,606
4,585
4, 559
4,542
4, 542
4,530
2,115
2,205
2,275
2,434
2, 576
2,749
2,946
3,180
3,318
3,531
3,637
3,773
3,820
3,963
4,003
4,132
4,148
4,236
4,242
4,324
4,327
4,398
4,368
4,406
4,400
4,417
4,378
4,363
4,330
4,337
4,316
4,316
4,299
4,308
4,276
4,263
4,236
4,243
Percent
41.41
43.35
44.91
48.24
51.09
54.64
58.67
63.31
66.12
70.44
72.48
75.29
76.34
79.31
80.17
82.96
83.34
85.32
85.65
87.42
87.73
89.46
89.49
90.58
90.87
92.10
92.15
92.83
92.62
93.09
92.74
93.28
93.33
93.96
93.79
93.86
93.26
93.66
Banks with surplus
less than common
capital stock
Number
2,992
2,882
2,791
2,612
2,466
2,282
2,075
1,843
1,700
1,482
1,381
1,238
1,184
1,034
990
849
829
729
711
622
605
518
513
458
442
379
373
337
345
322
338
311
307
277
283
279
306
287
Percent
58.59
56.65
55.09
51.76
48.91
45.36
41.33
36.69
33.88
29.56
27.52
24. 71
23.66
20.69
19.83
17.04
16.66
14.68
14.35
12.58
12. 27
10.54
10. 51
9.42
9.13
7.90
7.85
7.17
7.38
6.91
7.26
6.72
6.67
6.04
6.21
6.14
6.74
6.34
REPORT
TABLE
NO.
OF
THE
COMPTROLLER
OF
THE
CURRENCY
137
16.—Dates of reports of condition of national banks, 1914 to 1960
[For dates of previous calls see report for 1920, vol. 2, table No. 42, p. 150]
Jan.
Year
1914
1915
1916
1917
1918
1919
1920
1921
1922
1923
1924
1925
1926
1927
1928
1929
1930
1931
1932
1933
1934
1935
1936
1937
1938
1939
1940
1941
1942
1943
1944
1945
1946
1947
1948
1949
1950
1951
1952
1953
1954
1955
1956
1957
1958
1959
I960
Feb.
13
28
21
Mar.
4
4
7
5
4
4
10
31
28
23
20
31
—
28
3
May
June
1
1
1
10
12
4
5
6
12
27
27
25
5
4
4
31
7
29
26
.
Apr.
14
4
12
15
4
4
13
12
11
24
9
20
15
11
10
30
23
30
20
29
30
30
30
30
30
30
30
30
30
30
29
30
30
30
30
30
29
30
30
30
30
29
30
30
30
30
30
29
30
30
30
30
30
30
30
30
30
30
6
23
10
15
July
Aug.
31
Sept.
Oct.
12
2
12
11
31
12
8
6
15
14
28
24
29
30
28
Nov.
10
17
20
1
17
15
10
10
3
4
25
17
1
2
24
18
30
5
30
26
24
6
4
10
7
5
11
6
3
1
Dec.
31
31
27
31
31
31
29
31
29
31
31
31
31
31
31
31
31
31
31
30
31
31
31
31
31
30
31
31
31
31
30
31
31
31
31
31
30
31
31
31
31
31
31
31
31
31
31
NOTES
Act of Feb. 25, 1863, provided for reports of condition on the 1st of each quarter, before commencement
of business.
Act of June 3, 1864—1st Monday of January, April, July, and October, before commencement of business, on form prescribed by Comptroller (in addition to reports on 1st Tuesday of each month showing
condition at commencement of business in respect to certain items; i.e., loans, specie, deposits, and circulation).
Act of Mar. 3,1869, not less than 5 reports per year, on form prescribed by Comptroller, at close of business on any past date by him specified.
Act of Dec. 28, 1922, minimum number of calls reduced from 5 to 3 per year.
Act of Feb. 25,1927, authorized a vice president or an assistant cashier designated by the board of directors
to verify reports of condition in absence of president and cashier.
Act of June 16,1933, requires each national bank to furnish and publish not less than 3 reports each year
of affiliates other than member banks, as of dates identical with those for which the Comptroller shall during such year require reports of condition of the bank. The report of each affiliate shall contain such information as in the judgment of the Comptroller shall be necessary to disclose fully the relations between
the affiliate and the bank and to enable the Comptroller to inform himself as to the effect of such relations
upon the affairs of the bank.
Sec. 21(a) of the Banking Act of 1933 provided, in part, that after June 16,1934, it would be unlawful for
any private bank not under state supervision to continue the transaction of business unless it submitted
to periodic examination by the Comptroller of the Currency or the Federal Reserve bank of the district,
and made and published periodic reports of condition the same as required of national banks under sec.
5211, U.S.R.S. Sec. 21(a) of the Banking Act of 1933, however, was amended by sec. 303 of the Banking
Act of 1935, approved Aug. 23, 1935, under the provisions of which private banks are no longer required to
submit to examination by the Comptroller or Federal Reserve bank, nor are they required to make to the
Comptroller and publish periodic reports of condition. (5 calls for reports of condition of private banks
were made by the Comptroller, the first one for June 30,1934, and the last one for June 29.1935.)
TABLE NO. 17
ASSETS AND LIABILITIES OF NATIONAL BANKS ON MARCH
IS, JUNE 15, OCTOBER 3, AND DECEMBER 31, 1960, BY
STATES AND TERRITORIES
139
REPORT OF THE COMPTROLLER OF THE CURRENCY
141
Assets and liabilities of national banks, by States, at date of each call during year
ended Dec. SI, 1960
ALABAMA
[In thousands of dollarsl
Mar. 15,
1960
June 16,
1960
Oct 3,
1960
Deo, 31,
I960
69 banks
69 banks
69 banks
69 b a n k s
ASSETS
Loans and discounts (Including overdrafts)
U.S. Government securities, direct obligations
683,777
343,382
727,294
321,782
712,040
361,126
726,547
390,038
Obligations of States and political subdivisions
Other bonds, notes, and debentures
Corporate stocks, inducting stock of Federal Reserve
bank
Reserve with Federal Reserve bank
Currency and coin
Balances with other banks, and cash items in process of
collection —
.
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 outstanding
Other assets
.
139,287
16,790
137,791
14,308
143,062
11,798
143,336
16,069
2,886
135,262
33,075
2,922
121,354
33,335
2,948
131,602
27,917
2,976
121,075
32,478
195,177
18,207
982
192,912
18,398
928
202, 748
18,363
1,377
208,085
19,408
700
3,418
172
5,067
3,391
111
5,338
3,361
23B
6,060
3,363
243
5,787
1,577,482
1,579,864
1,622,641
1,670,105
797,204
794,992
766,916
795,141
373,257
10
29,644
119,716
91, 833
7,703
1,419,366
1,041,116
S78, £50
381,055
10
41,643
111,981
87,096
7,483
1,4U, 260
1,0S8,58S
385,677
392, 603
10
37,851
155,966
96,681
7,223
1,457,250
1,058,417
398,8SS
395,762
10
36,921
174,310
97,720
7,589
1,507,455
U 104,177
403, £76
Total assets
LIABILITIES
Demand deposits of Individuals, partnerships, and
corporations
Time deposits of Individuals, partnerships, and corporations
Postal savings deposits
Deposits of U.S. Government
_
Deposits of States and political subdivisions
Deposits of banks
Other deposits (certified and cashiers' checks, etc.)
Total deposits
Demand deposits
Time deposits
Bills payable, rediscounts, and other liabilities for
borrowed money
__
_ __
Acceptances executed by or for account of reporting
banks and outstanding
Other liabilities
Total liabilities
10,050
3,300
5,150
172
20,785
111
22, 675
239
26,160
299
27,838
1,450,373
1,450,346
1,488,799
1,535,590
39,848
56,528
24,025
6,708
39,958
57,048
27,022
5,490
40,078
57,488
29,962
6,314
40,098
58,958
27,779
7,680
CAPITAL ACCOUNTS
Capital stock: Common stock
Surplus
Undivided profits
Reserves..
..........
..
Total capital accounts
Total liabilities and capital accounts
127,109
129,518
133,842
134,515
1,577,482
1,579,864
1,622,641
1,670,105
203,244
215,989
256,454
247,356
MEMORANDUM
Assets pledged or assigned to secure liabilities and for
other purposes
-
598026—61
10
142
REPORT OF THE COMPTROLLER OF THE CtTRREHCY 142
Assets and liabilities of national banks, by States, at date of each call during year
ended Dec. 37, 1960—Continued
ALASKA
[In thousands of dollars)
Loans and discounts (Including overdrafts)
U.S. Government securities, direct obligations...
Obligations guaranteed by U.S. Government
Obligations of States and political subdivisions
Other bonds, notes, and debentures.—
Corporate stocks, including stock of Federal Reserve
bank
Reserve with Federal Reserve bank
Currency and coin.
Balances with other banks, and cash Items In process of
collection
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 assets.
Total assets..
Mar. 15,
I960
June 16,
1960
Oct. 3,
I960
Deo. 81,
1900
7 banks
7 banks
7 banks
7 banks
67,688
48,311
81,686
53,509
81,318
61,783
80,240
62,303
6,867
2,386
8,812
3,133
4,703
8,994
6,549
188
10,023
4,694
243
11,297
6,675
244
10,393
5,338
244
7,998
7,102
10,823
2,674
243
12,762
2,953
312
22,347
3,219
336
15,666
3,217
411
150
640
189
741
803
214
154,330
181, 111
199,506
193,741
62,674
77,944
87,432
84,497
36,060
10
21,572
18,428
1,385
1,783
41,520
20
21,992
19,373
1,509
1,897
44,772
20
20,588
29,975
1,309
1,968
44,371
20
19,487
30,214
942
2,017
LIABILITIES
Demand deposits of individuals, partnerships, and
corporations
Time deposits of individuals, partnerships, and corporations
Postal savings deposits
Deposits of U.S. Government
—
Deposits of States and political subdivisions.
Deposits of banks.
Other deposits (certified and cashiers* checks, etc.)
Total deposit*
Demand depositt
Time deposits
Bills payable, rediscounts, and other liabilities for
borrowed money
Other liabilities
Total liabilities
in, dit
186,064
106,661
181,54.8
m, 641
78,907
81 SSI
57,681
m.m
98, m
ee, oa
3,000
911
4,800
1,126
300
1,320
1,232
146,823
170,181
187,684
182,780
3,400
3,275
1,364
4,868
3,225
2,420
417
3,250
3,289
416
4,868
3,476
2,041
677
79, SOS
CAPITAL ACCOUNTS
Capital stock: Common stock
Surplus
Undivided profits
—
Reserves
Total capital accounts
Total liabilities and capital accounts
8,507
10,930
11,822
10,961
154,330
181,111
199,506
193,741
41,267
43,422
44,710
44,082
MEMORANDUM
Assets pledged or assigned to secure liabilities and for
other purposes
REPORT OF THE COMPTROLLER OF THE CURRENCY
143
Assets and liabilities of national banks, by States, at date of each call during year
ended Dec. 81, 1960—Continued
ARIZONA
[In thousands of dollars]
Loans and discounts (including overdrafts)
U.S. Government securities, direct obligations
Obligations guaranteed by U.S. Government
Obligations of States and political subdivisions
Other bonds, notes, and debentures
Corporate stocks, including stock of Federal Reserve
bank
Reserve with Federal Reserve bank
Currency and coin
Balances with other banks, and cash items in process of
collection.
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 outstanding
Other assets.,.
Total assets
-
Mar. 15,
1960
June 15,
1960
Oct. 3,
1960
Dec. 31,
1960
3 banks
3 banks
3 banks
3 banks
605,158
123,782
14
41,095
13,539
608,725
147,088
8
40,125
15,803
594,254
156,105
1,014
37,055
3,899
584,629
169,951
1,006
51,591
7,976
1,698
70,056
13,824
1,957
67,448
14,149
1,992
64,781
14,496
2,016
82,982
16,727
88,040
18,946
83,310
19,646
89,377
21,258
113,214
22,373
210
5,160
76
5,460
101
9,326
5,760
14
9,415
5,759
18,295
1,013,155
19,446
1,066,909
496,192
492, 628
463,024
505,423
256,894
27
11,961
92,877
21,702
13,232
892,885
266,098
27
18,716
105,974
21,013
12,622
917,078
619,221
297,857
282,552
27
16,652
90,302
22,533
15,402
890,492
575, 634
314,858
294,661
27
16,246
100,789
26,514
19,755
963,415
636,591
826,824
LIABILITIES
Demand deposits of individuals, partnerships, and
corporations
Time deposits of individuals, partnerships, and corporations
Postal savings deposits
Deposits of U.S. Government
Deposits of States and political subdivisions
Deposits of banks
Other deposits (certified and cashiers' checks, etc.)
Total deposits
Demand deposits
Time deposits
Bills payable, rediscounts, and other liabilities for
borrowed money
Acceptances executed by or for account of reporting
banks and outstanding
Other liabilities
Total liabilities
604, %57
10,000
8,000
76
101
25,670
14
27,466
27,942
925,044
942,849
925,972
991,743
20,767
34,158
8,315
11
21,467
40,458
8,369
12
21,592
40,458
11,411
13
22,099
40,701
9,848
2,518
22, C
CAPITAL ACCOUNTS
Capital stock: Common stock..
Surplus
Undivided profits
Reserves
Total capital accounts
Total liabilities and capital accounts
63, 251
70,306
73,474
75,166
988,295
1,013,155
999,446
1,066,909
144,837
163,615
148,273
172,071
MEMORANDUM
Assets pledged or assigned to secure liabilities and for
other purposes
-
REPORT OF THE COMPTROLLER OF THE CtTRREHCY 144
Assets and liabilities of national banks, by States, at date of each call during year
ended Dec. 81, 1960—Continued
ARKANSAS
[In thousands of dollars]
Mar. 15,
1960
June 15,
1960
Oct. 3,
1960
Dec. 31,
1960
55 banks
55 banks
55 banks
55 banks
ASSETS
Loans and discounts (including overdrafts)
U.S. Government securities, direct obligations
Obligations guaranteed by U.S. Government
Obligations of States and political subdivisions
Other bonds, notes, and debentures
Corporate stocks, including stock of Federal Reserve
bank
Reserve with Federal Reserve bank
Currency and coin
Balances with other banks, and cash items in process of
collection
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 outstanding
Other assets
Total assets
249,632
158,195
267,516
141,926
283,900
143,082
284,730
160,640
72,290
8,409
71,985
5,148
72,863
3,820
73,409
7,562
1,250
52,605
10,502
1,269
52,089
11,206
1,273
46,481
10,544
1,289
51,735
11,459
80,204
8,838
526
82,234
9,179
336
95,298
9,694
340
113,197
9,641
360
30
47
30
1,587
1,815
30
1
2,123
1,843
644,085
644,733
669,449
715,895
337,242
326,611
322,202
357,816
136,955
29
9,844
42,056
53,405
2,687
582,218
JUS, 99+
138,224
139,275
29
12,757
43,741
54, 771
3,110
580,294
439,800
140,994
144,603
24
12,168
60,327
61,560
2,982
608,866
456,876
147,490
150,540
24
13,069
50,315
75,310
3,887
650,961
497,586
158,875
1,250
590
5,638
5,528
1
6,138
6,001
587,856
587,072
610,595
656,962
18,045
24,245
12,476
1,463
18,045
24,245
13,966
1,405
18,070
24,310
14,896
1,578
18,345
24,865
13,899
1,824
LIABILITIES
Demand deposits of individuals, partnerships, and
corporations
Time deposits of individuals, partnerships, and corporations...
Postal savings deposits
Deposits of U.S. Government
Deposits of States and political subdivisions
Deposits of banks.
Other deposits (certified and cashiers' checks, etc.)
Total deposits
Demand deposits
Time deposits
Bills payable, rediscounts, and other liabilities for
borrowed money
Acceptances executed by or for account of reporting
banks and outstanding
Other liabilities
Total liabilities
CAPITAL ACCOUNTS
Capital stock: Common stock
Surplus
Undivided profits
Reserves
Total capital accounts
Total liabilities and capital accounts
56,229
57,661
58,854
58,933
644,085
644,733
669,449
715,895
53,208
46,423
46,991
48,496
MEMORANDUM
Assets pledged or assigned to secure liabilities and for
other purposes
REPORT OF THE COMPTROLLER OF THE CURRENCY
145
Assets and liabilities of national banks, by States, a idate of each call during year
ending Dec. 31, 1960—Continued
CALIFORNIA
[In thousands of dollars]
Mar. 15,
1960
June 15,
1960
Oct. 3,
1960
Dec. 31,
1960
37 banks
40 banks
40 banks
40 banks
10,150,690
Loans and discounts (including overdrafts)
3,088,981
U.S. Government securities, direct obligations
993
Obligations guaranteed by U.S. Government
Obligations of States and political subdivisions
— 1,106,656
153,114
Other bonds, notes, and debentures
Corporate stocks, including stock of Federal Reserve
68,964
bank
1,492,447
Reserve with Federal Reserve bank
143,109
Currency and coin
Balances with other banks, and cash items in process of
1,451,103
collection
232,277
Bank premises owned, furniture and fixtures
2,474
Real estate owned other than bank premises
Investments and other assets indirectly representing
49,989
bank premises or other real estate
147,236
Customers' liability on acceptances outstanding
90,943
Other assets
10,375,068
3,131,796
1,024
1,093,316
158,310
10,311,420
3,539,693
1,152
1,117,278
156,540
10,278,351
3,801,956
2,293
1,183,176
170,235
69,215
1,569,712
146,489
69,309
1,421,790
140,701
70,837
1,474,112
151,407
1,418,919
246,586
2,560
1,433,563
259,616
2,627
1,682,906
273,758
2,252
51,468
141,299
98,592
53,237
169,669
56,675
140,990
124,271
18,178,976
18,504,354
18,814,764
19,413,219
7,428,519
7,233,253
7,270,609
7,515,006
6,699,371
184
387,670
1,242,762
563,872
314,100
8,768,102
7,678,110
6,919,316
184
419,550
1,175,101
566,639
302,575
16,658,974
8,769,822
7,884,152
7,069,926
184
351,021
1,590,425
634,369
373,616
17,584,547
9,262,010
8,272,587
181,863
133,939
182,800
1,029
1,016
852
837
147,638
407,646
141,981
604,838
170,491
579,907
143,288
498,239
17,024,517
17,322,986
17,588,024
18,176,911
351,833
562,760
233,049
6,817
356,002
566,595
251,843
356,951
568,133
294,487
7,169
359,254
617,794
252,140
7,120
Total assets..
LIABILITIES
Demand deposits of individuals, partnerships, and
corporations
Time deposits of individuals, partnerships, and corporations
—
Postal savings deposits
—
Deposits of U.S. Government
Deposits of States and political subdivisions
Deposits of banks
Other deposits (certified and cashiers' checks, etc.)
Total deposits
.
Demand deposits
Time deposits
Bills payable, rediscounts, and other liabilities for
borrowed money
Mortgages or other liens on bank premises and other
real estate
Acceptances executed by or for account of reporting
banks and outstanding
Other liabilities
....
Total liabilities..
6,642,042
184
256,580
1,128,968
534,031
296,017
16,286,841
8,694,849
7,691,992
16,441,
m
CAPITAL ACCOUNTS
Capital stock: Common stock..
Surplus
Undivided profits
Reserves
1,154,459
1,181,3
1,226,740
16,308
18,178,976
18,504,354
18,814,764
19,413,219
Assets pledged or assigned to secure liabilities and for
other purposes 2,661,998
2,701,619
2,848.787
2,953,922
Total capital accounts
Total liabilities and capital accounts.
MEMORANDUM
REPORT OF THE COMPTROLLER OF THE CtTRREHCY 146
Assets and liabilities of national banks, by StateSj at date of each call during year
ended Dec. 81, 1960—Continued
COLORADO
[In thousands of dollars]
Mar. 15,
1960
June 15,
1960
Oct. 3,
1960
Dec. 31,
1960
77 banks
77 banks
77 banks
78 banks
ASSETS
Loans and discounts (including overdrafts)
U.S. Government securities, direct obligations
Obligations guaranteed by U.S. Government
Obligations of States and political subdivisions
Other bonds, notes, and debentures
Corporate stocks, including stock of Federal Reserve
bank
Reserve with Federal Reserve bank
Currency and coin.Balances with other banks, and cash items in process of
collection
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 assets
Total assets
-
696,341
340,730
705,448
323,810
752,335
346,798
720,005
382,122
58,798
4,122
57,314
4,190
57,306
3,735
57,606
3,558
2,572
140,087
17,488
2,555
142,869
18,046
2,633
121,417
15,840
2,747
134,860
16,811
178,472
12,945
688
181,757
13,349
673
192,843
13,630
732
209,426
13,100
743
5,880
6,548
5,585
6,473
5,390
7,972
5,379
8,044
1,464,671
1,462,069
1,520,631
1,554,401
787,075
804,715
366,097
10
37,817
83,333
96,271
13,369
1,383,972
991,606
392,366
369,683
10
40,999
78,844
108,478
14,585
1,417,314
1,021,014
396,300
LIABILITIES
Demand deposits of individuals, partnerships, and
corporations Time deposits of individuals, partnerships, and corporations
Postal savings deposits
Deposits of U.S. Government
Deposits of States and political subdivisions
Deposits of banks
Other deposits (certified and cashiers' checks, etc.)
Total deposits
Demand deposits
Time deposits
Bills payable, rediscounts, and other liabilities for
borrowed money.
Other liabilities
—
Total liabilities
773,993
351,470
10
29,036
76,569
80,223
11,087
1,322,388
952,568
369,820
752,457
349,224
10
39,798
80,154
89,195
12,809
1,323,647
961,934
371, 713
19,345
13,000
10,500
15,235
2,600
16,519
18,478
1,354,733
1,349,382
1,403,091
1,435,792
37,080
47,599
24,219
1,040
37,080
47,635
26,644
1,328
37,955
49,270
28,415
1,900
38,480
52,815
25,467
1,847
CAPITAL ACCOUNTS
Capital stock: Common stock
Surplus
Undivided profits
Reserves
Total capital accounts
Total liabilities and capital accounts
109,938
112,687
117,540
118,609
1,464,671
1,462,069
1,520,631
1,554,401
193,618
189,458
191,389
183,889
MEMORANDUM
Assets pledged or assigned to secure liabilities and for
other purposes
-
REPORT OF THE COMPTROLLER OF THE CtTRREHCY
147
Assets and liabilities of national banks, by States, at date of each call during year
ended Dec. 81, 1960—Continued
CONNECTICUT
[In thousands of dollars]
Mar. 15,
1960
June 15,
1960
Oct. 3,
1960
Dec. 31,
1960
24 banks
24 banks
23 banks
23 banks
ASSETS
Loans and discounts (including overdrafts)
U.S. Government securities, direct obligations.
Obligations guaranteed by U.S. Government
—
Obligations of States and political subdivisions
Other bonds, notes, and debentures
Corporate stocks, including stock of Federal Reserve
Reserve with Federal Reserve bank
Currency and coin _
Balances with other banks, and cash items in process of
collection
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 assets
Total assets
578,643
221,461
12
104. 697
5,395
618,406
212,633
12
98,558
5,032
614,569
220,478
10
103,039
4,021
621,153
244.429
22
107,144
5,086
3, 579
83,320
29, 712
3. 598
75,251
30,227
3, 599
68, 645
28,081
3,605
73,330
29,890
131, 497
18, 535
1,992
128,196
18, 543
2,194
153,209
19,790
1,708
149,933
20,903
1,706
330
6,168
330
6,222
330
6,290
330
3,557
1,185, 341
1,199,202
1,223, 769
1,261,088
LIABILITIES
Demand deposits of individuals, partnerships, and
corporations
Time deposits of individuals, partnerships, and corporations
-Postal savings deposits
Deposits of U.S. Government
Deposits of States and political subdivisions
Deposits of banks.
Other deposits (certified and cashiers' checks, etc.)
Total deposits
Demand deposits
Time deposits...
Bills payable, rediscounts, and other liabilities for
borrowed money
_ _
Mortgages or other liens on bank premises and other
real estate
Other liabilities
Total liabilities
654, 978
669.742
675,326
732,689
258,913
259,582
268.895
264,233
41,128
38,437
22,606
18, 533
1,031595
774,101
260,494
51, 994
45,215
21,921
11,016
1,059,470
798,333
261,137
14, 550
5,165
218
39, 901
218
37,331
218
42,373
218
48,572
1,089,264
1,102,184
1,125,732
1,162,888
32, 502
46,094
16,849
632
32,652
48,444
15,279
643
32, 671
48.493
16,193
680
32,671
48,659
15,986
884
52, 537
49,972
23,350
13,061
1,083,141
812, 689
270, 452
44.899
37,684
24,412
10,181
1,114,098
848,296
265,802
CAPITAL ACCOUNTS
Capital stock: Common stock
Surplus
Undivided profits
Reserves
-
:
Total capital accounts
Total liabilities and capital accounts
96,077
97,018
98,037
98,200
1,185,341
1,199,202
1,223, 769
1,261,088
99, 919
102,658
102,805
108,251
MEMORANDUM
Assets pledged or assigned to secure liabilities and for
other purposes
REPORT OF THE COMPTROLLER OF THE CtTRREHCY 148
Assets and liabilities of national banks, by States, at date of each call during year
ended December 81, I960—Continued
DELAWARE
[In thousands of dollars]
Mar. 15,
1960
June 15,
1960
Oct. 3,
1960
Dec. 31,
1960
3 banks
3 banks
3 banks
3 banks
ASSETS
Loans and discounts (including overdrafts)
U.S. Government securities, direct obligations
Obligations guaranteed by U.S. Government
Obligations of States and political subdivisions
Other bonds, notes, and debentures
Corporate stocks, including stock of Federal Reserve
bank
Reserve with Federal Reserve bank
Balances with other banks, and cash items in process of
collection
Bank premises owned, furniture and fixtures
Other assets
Total assets
3,625
2,850
3,873
2,703
4,019
2,656
4,082
2,655
399
292
391
242
388
232
449
267
21
758
221
21
627
199
22
644
301
22
714
234
414
157
6
623
157
2
798
161
1
526
150
8,743
8,838
9,222
9,099
3.836
3,858
4,090
3,811
3,910
3,959
4,084
4,260
40
53
31
57
43
75
40
71
35
7,874
8,964
8,910
31
7,986
8,977
8,959
34
8,826
4, £22
4,104
31
8,218
8,988
4,280
LIABILITIES
Demand deposits of individuals, partnerships, and
corporations
Time deposits of individuals, partnerships, and corporations Postal savings deposits
Deposits of U.S. Government
Deposits of States and political subdivisions
Deposits of banks
Other deposits (certified and cashiers' checks, etc.)
Total deposits
Demand deposits
Time deposits
Bills payable, rediscounts, and other liabilities for
borrowed money
Other liabilities
Total liabilities
16
1
7,890
7,937
8,326
8,233
20
175
525
149
4
175
525
197
4
175
550
167
4
175
575
112
4
CAPITAL ACCOUNTS
Capital stock: Common stock
Surplus
Undivided profits
Reserves.—
-
-
Total capital accounts
Total liabilities and capital accounts
853
901
896
866
8,743
8,838
9,222
9,099
186
176
186
186
MEMOBANDUM
Assets pledged or assigned to secure liabilities and for
other purposes -
REPORT OF THE COMPTROLLER OF THE CtTRREHCY
149
and liabilities of national banks, by States, at date of each call during year
ended Dec. 81, 1960—Continued
DISTRICT OF COLUMBIA
[In thousands of dollars]
Loans and discounts (including overdrafts)
U.S. Government securities, direct obligations.
Obligations guaranteed by U.S. Government
Obligations of States and political subdivisions
Other bonds, notes, and debentures
Corporate stocks, including stock of Federal Reserve
bank
Reserve with Federal Reserve bank
Currency and coin..
Balances with other banks, and cash items in process of
collection
—
Bank premises owned, furniture and fixtures
Real estate owned other than bank premises.
Other assets
Total assets .
Mar. 15,
1960
June 15,
1960
Oct. 3,
1960
5 banks
5 banks
5 banks
391,443
281,539
408, 579
265,054
416,971
257, 555
24,458
6,240
23,497
5, 559
23,224
4,714
1,609
79,800
15, 552
1,639
98,071
15, 755
1,639
78,361
14,094
82,759
16,838
256
2,080
89,514
16,930
272
2,163
91,285
16,999
306
2,443
902, 574
927,033
907, 591
570,703
584,431
548,486
173,946
479
24,640
106
43,839
11,616
825,829
642,837
182,492
172,473
479
29,143
51
51, 717
8,990
182,631
479
34,349
60
53,625
6,721
826,351
635,166
191,185
LIABILITIES
Demand deposits of individuals, partnerships, and
corporations.
Time deposits of individuals, partnerships, and corporations.
Postal savings deposits
Deposits of U.S. Government
Deposits of States and political subdivisions
Deposits of banks
Other deposits (certified and cashiers' checks, etc.)
Total deposits
Demand deposits
Time deposits
Bills payable, rediscounts, and other liabilities for
borrowed money
Other liabilities
Total liabilities
181,190
500
9,398
2,150
8,481
11,365
835,227
857,915
837,716
18, 743
34,058
11,370
3,176
18, 743
35,058
12,226
3,091
18, 743
35, 058
12,888
3,186
CAPITAL ACCOUNTS
Capita] stock: Common stockSurplus.
Undivided profits
Reserves.
Total capital accounts
Total liabilities and capital accounts.
67,347
>9,118
69,875
902,574
927,033
907,591
46, 749
53, 863
55,127
MEMORANDUM
Assets pledged or assigned to secure liabilities and for
other purposes
—
150
REPORT OF THE COMPTROLLER OF THE CURRENCY 150
Assets and liabilities of national banks, by States, at date of each call during year
ended Dec. 81, 1960—Continued
FLORIDA
[In thousands of dollars]
Loans and discounts (including overdrafts)
U.S. Government securities, direct obligations
Obligations guaranteed by U.S. Government—
Obligations of States and political subdivisions
Other bonds, notes, and debentures.
Corporate stocks, including stock of Federal Reserve
bank
Reserve with Federal Reserve bank
Currency and coin
—
—
Balances with other banks, and cash items in process of
collection
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 outstanding..
Other assets
Total assets..
Mar. 15,
1960
June 15,
1960
Oct. 3,
1960
Dec. 31,
1960
109 banks
114 banks
115 banks
119 banks
1,269,215
932,190
46
204,371
30,099
1,257,317
918,731
25
203,553
30,031
1,265,698
879,907
32
200,129
31,356
1,272,211
957,979
44
200,119
5,956
253,936
51, 529
6,196
245, 659
50, 536
6,451
226,093
45,908
6,611
221,890
62,553
550,939
47,858
2,729
485,420
49,491
4,835
429,045
50,656
2,715
643,200
51,786
2,439
9,203
112
16, 585
9,886
88
17,828
12,240
69
13,975
12,115
276
15,103
3,374, 768
3,279, 596
3,164,274
3,485,365
1,705,767
1,648,013
1,545,592
1,613,010
711,355
61
68,019
239,602
248, 768
21,411
728,696
61
62,846
349,232
386,001
26,400
2,056,078
778,785
2,868,524
802,722
13,175
15,981
1,950
189
274
273
122
41,722
102
46,224
110
48,677
49,528
3,130,282
3,023,048
2,899,850
3,218,305
200
86,367
86,567
112, 538
29, 529
15,852
200
89,722
89,922
116,440
33,956
16,230
200
96,522
96,722
114,086
41,185
12, 431
200
98,582
98,782
120,386
36,430
11,462
LIABILITIES
Demand deposits of individuals, partnerships, and
corporations
Time deposits of individuals, partnerships, and corporations
Postal savings deposits
Deposits of U.S. Government
Deposits of States and political subdivisions
Deposits of banks
Other deposits (certified and cashiers' checks, etc.)
Total deposits
Demand deposits
Time deposits
Bills payable, rediscounts, and other liabilities for
borrowed money
Mortgages or other liens on bank premises and other
real estate
Acceptances executed by or for account of reporting
banks and outstanding
Other liabilities
Total liabilities
656,001
679, 512
61
61
55,344
63,868
277,065
252,963
321,790
290,371
27,127
28, 570
8, 048, 155 2,968,858
2,812,980
2,206,835
780,175
756,528
45,094
2,884,808 8,166,246
CAPITAL ACCOUNTS
Capital stock:
Preferred stock
Common stock
Total capital stock..
Surplus
—
Undivided profits
Reserves and retirement account for preferred stock...
Total capital accounts
-
Total liabilities and capital accounts
244,486
256,548
264,424
267,060
3,374,768
!, 279, 596
3,164,274
3,485,365
693,004
664,869
657,660
742,450
MEMORANDUM
Assets pledged or assigned to secure liabilities and for
other purposes -
REPORT OF THE COMPTROLLER OF THE CtTRREHCY
151
Assets and liabilities of national banks, by States, at date of each call during year
ended Dec. 31, 1960—Continued
GEORGIA
[In thousands of dollars]
Mar. 15,
1960
June 15,
1960
Oct. 3,
1960
Dec. 31,
1960
52 banks
52 banks
53 banks
53 banks
ASSETS
Loans and discounts (including overdrafts).—
U.S. Government securities, direct obligations
Obligations guaranteed by U.S. Government
Obligations of States and political subdivisions
Other bonds, notes, and debentures
Corporate stocks, including stock of Federal Reserve
bank
Reserve with Federal Reserve bank..—
Currency and coin. _
Balances with other banks, and cash items in process of
collection
- 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 outstanding
Other assets.
Total assets
836,170
292,421
882,569
274,341
874,037
295,833
864,191
315,180
83,295
13, 649
79,385
12,159
78,926
12,935
78,662
14,050
3,467
156,229
18,891
3,470
157, 748
19,792
3,690
151,677
18,714
3,709
153,374
19,775
266, 777
25,251
2,352
240,547
26,238
3,320
241,068
30,504
749
287, 730
31,110
639
1,458
49
5,601
1,458
4, 615
1,478
5
5,169
1,993
40
4,291
1, 705,610
1,705,642
1, 714, 785
1,774,744
LIABILITIES
Demand deposits of individuals, partnerships, and
corporations
Time deposits of individuals, partnerships, and corporations
>
Postal savings deposits
—
Deposits of U.S. Government
Deposits of States and political subdivisions
Deposits of banks
Other deposits (certified and cashiers' checks, etc.)
Total deposits
Demand deposits
Time deposits
Bills payable, rediscounts, and other liabilities for
borrowed money
Mortgages or other liens on bank premises and other
real estate
Acceptances executed by or for account of reporting
banks and outstanding
Other liabilities
Total liabilities
-
-
860,888
285,714
683
40,517
127,034
190,980
7,686
1,518, 502
1,219,620
298,882
836,466
805, 507
288,430
683
55,246
129,062
189,669
8,075
1,507,631
1,211,112
296,519
296,758
683
57,699
151,478
209,490
7, 748
1,529,363
1,200,740
328,623
828,029
298,163
683
51,893
148,551
247,233
12,642
1,587,194
1,264,869
822,825
275
24,300
24,300
20
19
19
19
49
33,166
36,164
5
39,615
40
40,485
1,571,037
1,568,114
1,569,002
1,628,013
37, 508
64, 547
21,368
11,150
37,458
64, 527
24,513
11,030
39, 508
69, 593
24,740
11,942
39,718
70,373
21,494
15,146
CAPITAL ACCOUNTS
Capital stock: Common stock
Surplus
Undivided profits
Reserves
Total capital accounts
Total liabilities and capital accounts
134, 573
137,528
145, 783
146,731
1,705,610
1,705,642
1,714, 785
1,774,744
205,310
221,534
249,987
249,869
MEMORANDUM
Assets pledged or assigned to secure liabilities and for
other purposes
REPORT OF THE COMPTROLLER OF THE CtTRREHCY 152
Assets and liabilities of national banks, by States, at date of each call during year
ended Dec. 81, 1960—Continued
HAWAII
[In thousands of dollars]
Mar. 15,
1960
June 15,
1960
Oct. 3,
1960
Dec. 31,
1960
1 bank
1 bank
2 banks
2 banks
ASSETS
Loans and discounts (including overdrafts)
U.S. Government securities, direct obligations
Obligations of States and political subdivisions—
Other bonds, notes, and debentures
Corporate stocks, including stock of Federal Reserve
bank
Reserve with Federal Reserve bank
Currency and coin..
Balances with other banks, and cash items in process of
collection
Bank premises owned, furniture and fixtures
Real estate owned other than bank premises
Customers' liability on acceptances outstanding
Other assets
Total assets.
147,849
55,160
153,848
55,160
157,039
69,133
164,604
82,152
17,569
2,361
17,410
2,361
17,849
2,361
17,926
2,361
450
14,752
5,373
540
12,371
5,564
612
12,962
5,274
612
15,825
7,901
16,841
5,752
78
47
1,671
22,503
5,767
77
69
1,566
21,403
6,053
77
15
1,915
29,188
5,706
77
44
5,358
267,903
277,236
294,693
331, 754
101,014
100,785
103,215
115,661
80,080
10
14,956
39, 554
5,784
3,200
244, 598
182,30
112,252
78,277
10
18, 552
42,264
5,817
2,983
248,688
187,278
111,410
82,010
10
15,918
52,364
6,981
2,219
262, 717
188,451
124,266
84,812
10
16,737
69,462
11,676
2,516
800,874
162,047
188,827
LIABILITIES
Demand deposits of individuals, partnerships, and
corporations _
Time deposits of individuals, partnerships, and corporations
Postal savings deposits
Deposits of U.S. Government
Deposits of States and political subdivisions
Deposits of banks.
Other deposits (certified and cashiers' checks, etc.)
Total deposits
Demand deposits
Time deposits
Bills payable, rediscounts, and other liabilities for
borrowed money
Acceptances executed by or for account of reporting
banks and outstanding
Other liabilities
Total liabilities
47
2,699
69
4,655
15
5,085
44
4,398
247,344
253, 412
267,817
305,316
6,000
9,000
3,383
2,176
7,000
11,000
3,648
2,176
8,600
11,800
4,300
2,176
8,600
11,800
3,862
2,176
CAPITAL ACCOUNTS
Capital stock: Common stock
Surplus
Undivided profits
Reserves
-
Total capital accounts
Total liabilities and capital accounts
20, 559
23,824
26,876
26,438
267,903
277,236
294,693
331,754
74,237
73,912
86,561
100,835
MEMORANDUM
Assets pledged or assigned to secure liabilities and for
other purposes
REPORT OF THE COMPTROLLER OF THE CURRENCY
153
Assess and liabilities of national banks, by States, at date of each call during year
ended Dec. 31, 1960—Continued
IDAHO
[In thousands of dollars]
Mar. 15,
1960
June 15.
1960
Oct. 3,
1960
Dec. 31,
1960
10 banks
10 banks
10 banks
10 banks
ASSETS
Loans and discounts (including overdrafts)
U.S. Government securities, direct obligations-.
Obligations guaranteed by U.S. Government
Obligations of States and political subdivisions
Other bonds, notes, and debentures
Corporate stocks, including stock of Federal Reserve
Reserve with Federal Reserve bank
Balances with other banks, and cash items in process of
Bank premises owned, furniture and fixtures
Real estate owned other than bank premises.
Other assets
Total assets
237,712
149,212
13
30,868
451
255,646
139,393
245,554
138,095
32,088
391
33,432
386
242,978
156,192
21
34,362
10
772
38,213
6,342
792
28,829
6,272
810
34,049
5,640
825
34,448
6,715
28,758
8,068
16
768
30,432
8,213
20
334
36,132
8,092
20
295
36,892
8,138
24
811
501,193
502, 410
502, 505
521,416
224,602
219,255
227,050
222,755
171,583
11
5,525
50,885
2,675
4,467
459,748
287,018
172,730
172,311
11
8,162
48,315
2,367
5,186
455,607
282,149
173,458
173,383
11
8,336
41,071
1,778
3,108
454,737
280,207
174,530
178,612
11
9,381
61,711
2,525
4,435
479,430
299,659
179,771
5,445
3,722
7,820
5,196
7,970
5,803
5,690
468,915
468,623
468,510
485,120
12,375
12,617
6,788
498
12,375
13,117
8,015
280
12,375
14,144
7,160
316
12,375
14,707
5,704
3,510
LIABILITIES
Demand deposits of individuals, partnerships, and
corporation
Time deposits of individuals, partnerships, and corporations
Postal savings deposits
Deposits of U.S. GovernmentDeposits of States and political subdivisions
Deposits of banks
Other deposits (certified and cashiers' checks, etc.)
Total deposits
Demand deposits
Time deposits
Bills payable, rediscounts, and other liabilities for
borrowed money
Other liabilities
Total liabilities
-
CAPITAL ACCOUNTS
Capital stock: Common stock
Surplus
Undivided profits
Reserves
Total capital accounts
Total liabilities and capital accounts
32,278
33, 787
33,995
36,296
501,193
502,410
502, 505
521,416
104,954
110,070
103,827
111, 855
MEMORANDUM
Assets pledged or assigned to secure liabilities and for
other purposes
154
REPORT OF THE COMPTROLLER OF THE CURRENCY 154
Assets and liabilities of national banks, by States, at date of each call during year
ended Dec. 31, 1960—Continued
ILLINOIS
[In thousands of dollars]
Loans and discounts (including overdrafts)
U.S. Government securities, direct obligations
Obligations guaranteed by U.S. Government
Obligations of States and political subdivisions
—
Other bonds, notes, and debentures
Corporate stocks, including stock of Federal Reserve
bank
Reserve with Federal Reserve bank
Currency and coin
Balances with other banks, and cash items in process of
collection
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 outstanding
Other assets
—
Total assets
Mar. 15,
1960
June 15,
1960
Oct. 3,
1960
Dec. 31,
1960
396 banks
396 banks
397 banks
396 banks
5,455,057
3,616,270
81
886,498
202,572
5,681,139
3,391,036
81
917,726
187,673
5,824,483
3,475,026
141
878,664
157,919
5,794,121
3,570,701
206
944,140
165,291
25,782
1,230,392
108,802
25,966
1,247,081
110,413
26, 214
1,302,565
102,994
27,274
1,088,494
114,807
1,213,782
53,905
3, 518
1,381,002
55,330
3,497
1,129,503
59,384
2,963
1,443,423
61,218
2,772
4,614
18,049
56,389
4,822
17,935
55, 282
5,129
28,839
70,975
5,211
40,314
57,973
12,875,711
13,078,983
13,064,799
13,315,945
LIABILITIES
Demand deposits of individuals, partnerships, and
corporations
Time deposits of individuals, partnerships, and corporations
—
Postal savings deposits
Deposits of U.S. Government
Deposits of States and political subdivisions
Deposits of banks
Other deposits (certified and cashiers' checks, etc.)
Total deposits
Demand deposits
Time deposits..
.
Bills payable, rediscounts, and other liabilities for
borrowed money
Mortgages or other liens on bank premises and other
real estate.
Acceptances executed by or for account of reporting
banks and outstanding
Other liabilities
Total liabilities..
6,115,402
6,016,106
5,798,484
6,228,392
3,047,247
910
303,075
544,392
1,109,355
107,833
3,085,270
910
412,086
638, 678
1, 216, 800
111,071
3,169,457
910
538,756
786,342
1,254,135
125,898
3,236,975
910
383,394
633,759
1,352,822
129,946
452,322
356,755
98,175
36,150
11,228, 21411,480,92111,673,982 11,966,198
8,020,396 8,228,418 8,317,911 8,545,129
3,207,818 3,252,603 3,356,071 3,4^1,069
379
359
18,101
144,198
18,234
166,090
29,304
173,470
40,509
168,304
11,843,228
12,022,379
11,975,259
12,211,520
CAPITAL ACCOUNTS
Capital stock;
Preferred stock
Common stock
Total capital stock
Surplus
Undivided profits
—
Reserves and retirement account for preferred stock,..
1,500
365,727
367,227
483,432
128,302
53,522
367,167
367,167
490,125
144, 594
54,718
369,495
369,495
496,005
168,309
55,731
367,845
367,845
530,747
147,640
58,193
1,032,483
1,056,604
1,089,540
1,104,425
12,875,711
13,078,983
13,064,799
13,315,945
Assets pledged or assigned to secure liabilities and for
1,350,143
other purposes -
1,399,993
1,504,172
Total capital accounts
Total liabilities and capital accounts.
MEMORANDUM
1,225,1
REPORT OF THE COMPTROLLER OF THE CURRENCY
155
Assets and liabilities of national banks, by States, at date of each call during year
ended Dec. 81, 1960—Continued
INDIANA
[In thousands of dollars]
Mar. 15,
1960
June 15,
1960
Oct. 3,
1960
Dec. 31,
1960
124 banks
124 banks
124 banks
125 banks
1,222,965
926,133
19
157,337
29,416
1,287,803
934,752
22
169,814
37,184
1,322,350
912,391
28
162,344
30,676
1,346,871
983,032
46
176,299
36,000
5,384
234,880
53,768
5,692
252,869
55,763
5, 760
242,105
51,448
5,876
214,746
59,479
314,349
35,190
613
326,388
36,416
325,678
36,544
413,577
37,706
77
11,729
44
12,529
44
12,497
55
12,948
2,991,860
3,120,112
3,102, 760
3,287,495
1,423,979
1,377,284
1,384,699
1,514,624
789,616
1,146
66,589
277,013
114,558
25,028
2,697,929
1,864,928
838,006
800,669
1,146
93,370
374,406
126,412
26,544
2,799,831
1,956,840
842,991
843,066
1,061
83,852
271,923
149,380
24,500
2,758,481
1,878,550
885,131
860,231
1,061
79,822
312,846
154,324
35,105
2,958,013
2,055,752
902,261
8,500
18,050
13,500
44
51,673
6
56,277
76,218
75
71,978
2, 758,146
2,874,164
2,848,205
3,030,066
25
62,629
62,654
115,603
47,449
8,008
25
65,041
65,066
123,516
49,542
7,824
25
66,371
66,896
125,204
54,631
8,324
25
67,287
67,812
129,096
51,839
9,182
Loans and discounts (including overdrafts)
U.S. Government securities, direct obligations.
Obligations guaranteed by U.S. Government
Obligations of States and political subdivisions
Other bonds, notes, and debentures
Corporate stocks, including stock of Federal Reserve
bank
Reserve with Federal Reserve bank
Currency and coin
—
Balances with other banks, and cash items in process of
collection
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 assets
Total assets .
LIABILITIES
Demand deposits of individuals, partnerships, and
corporations
Time deposits of individuals, partnerships, and corporations
Postal savings deposits
Deposits of U.S. Government
Deposits of States and political subdivisions
Deposits of banks
Other deposits (certified and cashiers' checks, etc.)
Total deposits
Demand deposits
Time deposits
Bills payable, rediscounts, and other liabilities for
borrowed money
Mortgages or other liens on bank premises and other
real estate
Other liabilities
Total liabilities
CAPITAL ACCOUNTS
Capital stock:
Preferred stock.
....
Common stock
Total capital stock-Surplus.
Undivided profits
Reserves and retirement account for preferred stock...
Total capital accounts
Total liabilities and capital accounts.
233,714
245,948
254,555
257,429
2,991,860
3,120,112
3,102, 760
3,287,495
208,268
229,088
239,177
232,531
MEMORANDUM
Assets pledged or assigned to secure liabilities and for
other purposes -
156
REPORT OF THE COMPTROLLER OF THE CURRENCY 156
Assets and liabilities of national banks, by States, at date of each call during year
ended Dec. 81, 1960—Continued
IOWA
[In thousands of dollars]
Loans and discounts (including overdrafts)
U.S. Government securities, direct obligations
Obligations guaranteed by U.S. Government—
Obligations of States and political subdivisions
Other bonds, notes, and debentures
Corporate stocks, including stock of Federal Reserve
bank
Reserve with Federal Reserve bank
Currency and coin
Balances with other banks, and cash items in process of
collection
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 outstanding
Other assets
Total assets .
Mar. 15,
I960
June 15,
1960
Oct. 3,
1960
Dec. 31,
1960
98 banks
98 banks
97 banks
96 banks
432,
255,
447,165
253,228
440,034
271,628
453,875
280,568
85.
12,
85,295
12,072
84,911
11,911
82,006
13,401
1,
68,
14,
1,758
76,716
15,251
1,768
73,701
14,883
1,819
69,886
15,969
161,
7,
160,093
7,988
887
163,170
8,012
1,054
182,444
7,950
1,041
1,902
358
3,027
1,687
37
3,053
1,107
13
3,041
1,046,866
1,065,740
1,075,849
1,113,120
489,841
489,032
487,622
241,633
53
25,069
58,424
115,930
6,826
987,776
243,276
53
28,617
67,667
121,454
7,066
957,165
712,028
245,187
246,558
53
24,507
74,732
140,196
6,877
980,545
782,195
248,850
18,690
16,040
150
52
32
5,958
363
5,813
37
6,690
13
6,846
962,778
979,413
987,433
1,024,809
21,795
36,736
23,979
1,578
21,820
36,814
26,098
1,595
22,140
37.229
27.230
1,817
23,215
38,425
24,686
1,985
LIABILITIES
Demand deposits of individuals, partnerships, and
corporations
Time deposits of individuals, partnerships, and corporations
Postal savings deposits
Deposits of U.S. Government
Deposits of States and political subdivisions
Deposits of banks
—
Other deposits (certified and cashiers' checks, etc.)
Total deposits
Demand deposits
Time deposits
Bills payable, rediscounts, and other liabilities for
borrowed money
Mortgages or other liens on bank premises and other
real estate
Acceptances executed by or for account of reporting
banks and outstanding
Other liabilities
Total liabilities
694,844
848,482
525, 539
243,128
53
29,069
56,230
153,115
10,421
1,017,555
771,974
245, 581
375
20
CAPITAL ACCOUNTS
Capital stock: Common stock..
Surplus
Undivided profits
Reserves
Total capital accounts
Totalliabilities and capital accounts
—
84,088
86,327
88,416
88,311
1,046,866
1,065,740
1,075,849
1,113,120
84,157
85,367
80,779
77,125
MEMORANDUM
Assets pledged or assigned to secure liabilities and for
other purposes -
REPORT OF THE COMPTROLLER OF THE CURRENCY
157
Assess and liabilities of national banks, by States, at date of each call during year
ended Dec. Sly 1960—Continued
KANSAS
[In thousands of dollars]
Mar. 15,
1960
June 15,
1960
Oct. 3,
1960
169 banks
169 banks
168 banks
465,121
388,484
17
124,658
24,426
485,853
380,769
17
124,743
24,136
2, 590
118,207
16,481
2,597
111,327
16,664
2,659
116,064
13,762
134,131
14,179
666
132,740
14,155
524
154,159
14,596
295
3,077
295
2,S
292
3,145
1,292,332
1,296,807
1,362,511
ASSETS
Loans and discounts (including overdrafts)
U.S. Government securities, direct obligations
Obligations guaranteed by U.S. Government
Obligations of States and political subdivisions
Other bonds, notes, and debentures
—
Corporate stocks, including stock of Federal Reserve
bank
Reserve with Federal Reserve bank
Currency and coin
.
Balances with other banks, and cash items in process of
collection.
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 assets
„
Total assets
383,131
128,311
19,394
LIABILITIES
Demand deposits of individuals, partnerships, and
corporations
Time deposits of individuals, partnerships, and corporations...
Postal savings deposits
Deposits of U. S. Government
Deposits of States and political subdivisions
Deposits of banks
—Other deposits (certified and cashiers' checks, etc.)
Total deposits
Demand, deposits
Time deposits
Bills payable, rediscounts, and other liabilities for
borrowed money
_—
Mortgages or other liens on bank premises and other
real estate
Other liabilities
Total liabilities
-
-
639,940
637,977
685,000
206,711
37
30,274
199,751
81,103
7,514
1,165,330
931,640
233,690
212,888
37
38,034
192,683
77,382
6,951
1,165,952
926,029
239,923
226,020
37
34,034
193,065
84,948
6,162
1,229,266
976,009
253,257
6,723
6,490
3,550
79
79
77
10,590
1,180,371
1,181,109
1,243,483
32,481
52,006
25,686
1,788
32, 531
52,291
29,321
1,555
32,531
54,158
30,698
1,641
111,961
115,698
119,028
1,292,332
1,296,807
1,362,511
286,319
280,500
287,827
CAPITAL ACCOUNTS
Capital stock: Common stock
Surplus
Undivided profits
Reserves
-
-
-
Total capital accounts
Total liabilities and capital accounts
MEMORANDUM
Assets pledged or assigned to secure liabilities and for
other purposes
598026—61 10
158
REPORT OF THE COMPTROLLER OF THE CURRENCY 158
Assets and liabilities of national banks, by States, at date of each call during year
ended Dec. 31, 1969—Continued
KENTUCKY
[In thousands of dollars]
Loans and discounts (including overdrafts)
U.S. Government securities, direct obligations.
Obligations guaranteed by U.S. Government
Obligations of States and political subdivisions
Other bonds, notes, and debentures
Corporate stocks, including stock of Federal Reserve
bank.
Reserve with Federal Reserve bank.
Currency and coin
Balances with other banks, and cash items in process of
collection—
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 outstanding
Other assets
—
Total assets
Mar. 15,
1960
June 15,
1960
Oct. 3,
1960
Dec. 31,
1960
87 banks
87 banks
87 banks
87 banks
378,918
278,705
4
50,435
16,363
399,123
263,377
4
50,253
13,328
396,415
254,685
450,086
303,309
51,221
11,297
55,120
17,987
1,912
84,007
17,274
1,921
83,664
19,055
1,937
80,240
16,513
2,205
78,901
21,480
89,550
9,103
164
88, 285
9,688
229
90,240
9,920
228
139,979
10,897
197
1,060
78
2,372
1,289
102
2,261
1,795
89
2,598
875
89
2,818
929,945
2,579
917,178
1,083,943
539,484
530,157
501,842"
599; 585
186,767
15
19,986
49,797
36,583
4,591
837, m
639, W
197,762
189,782
15
25,947
49,911
33,491
5,518
834, 821
634,427
200,394
194,658
15
27,532
49,151
33,366
4,508
811,072
604,541
206,531
205,406
15
30,652
60,458
75,302
5,426
976,844
757, 673
219,171
LIABILITIES
Demand deposits of individuals, partnerships, and
corporations
Time deposits of individuals, partnerships, and corporations
Postal savings deposits
Deposits of U.S. Government
Deposits of States and political subdivisions
Deposits of banks
Other deposits (certified and cashiers' checks, etc.)
Total deposits
Demand deposits.
Time deposits
Bills payable, rediscounts, and other liabilities for
borrowed money
Acceptances executed by or for account of reporting
banks and outstanding
Other liabilities
Total liabilities
1,300
2,550
78
7,320
102
8,665
7,500
1,956
12,326
845,921
846,138
828, 617
989,259
23,865
40,021
18,275
1,863
23,965
40,121
20,497
1,858
24,165
40,511
21,254
2,631
26,515
47,670
18,564
1,935
CAPITAL ACCOUNTS
Capital stock: Common stock..
Surplus
Undivided profits
Reserves
Total capital accounts
—
84,024
16,441
18,561
94,684
Total liabilities and capital accounts
—
929,945
932,579
917,178
1,083,943
92,306
94,309
106,350
101,547
MEMORANDUM
Assets pledged or assigned to secure liabilities and for
other purposes -
REPORT OF THE COMPTROLLER OF THE CtTRREHCY
159
Assess and liabilities of national banks, by States, at date of each call during year
ended Dec. 31, 1960—Continued
LOUISIANA
[In thousands of dollars]
Mar. 15,
1960
June 15,
1960
Oct. 3,
1960
Dec. 31,
1960
42 banks
42 banks
42 banks
42 banks
ASSETS
Loans and discounts (including overdrafts)
U.S. Government securities, direct obligations
Obligations guaranteed by U.S. Government
Obligations of States and political subdivisions
Other bonds, notes, and debentures
Corporate stocks, including stock of Federal Reserve
bank
Reserve with Federal Reserve bank
Currency and coin
Balances with other banks, and cash items in process of
collection
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 outstanding
Other assets
Total assets
-
818,003
530,811
190
123,411
14,962
845,481
513,989
190
126,281
13,974
832,509
524,653
193
124,819
8,475
845,213
537,013
193
127,832
10,180
3,884
186,553
26,977
3,888
160,863
27,756
3,959
169,372
22,588
4,056
185,995
27,417
244,988
23,078
159
250,093
23,846
142
253,276
24,534
284
321,210
24,799
276
1,920
938
7,342
1,898
1,687
8,134
1,894
1,301
8,815
2,163
1,595
8,683
1,983,216
1,978,222
1,976,672
2,096,625
967,780
944,847
925,492
993,553
369,901
51
33,028
209,235
193,467
17,443
1,790,905
1,418,544
877,861
395,899
51
48,374
198,105
180,772
11,104
1,779,152
1,874, U7
m, 705
402,275
51
44,885
185,305
185,815
12,541
1,756,864
1,848,974
412,890
406,834
51
39,827
205,592
244,670
16,689
1,907.216
1,479,755
427,461
16,800
17,750
32,234
500
12
12
12
8
1,046
17,484
1,837
18,461
1,407
21,296
1,692
21,645
1,826,247
1,817, 212
1,811,313
1,931,061
41,828
85,889
28,714
538
41,828
86,909
31,742
531
42,091
88,647
33,983
638
42,491
92,455
29,948
670
LIABILITIES
Demand deposits of individuals, partnerships, and
corporations
Time deposits of individuals, partnerships, and corporations
Postal savings deposits
Deposits of U.S. Government
Deposits of States and political subdivisions
Deposits of banks
Other deposits (certified and cashiers' checks, etc.)
Total deposits
Demand deposits.
Time deposits
Bills payable, rediscounts, and other liabilities for
borrowed money
Mortgages or other liens on bank premises and other
real estate.
Acceptances executed by or for account of reporting
banks and outstanding
Other liabilities..
Total liabilities
-
CAPITAL ACCOUNTS
Capital stock: Common stock
Surplus
Undivided profits
Reserves
-
Total capital accounts
Total liabilities and capital accounts
156,969
161,010
165,359
165,564
1,983,216
1,978, 222
1,976,672
2,096,625
372,116
382,073
412,273
367,616
MEMORANDUM
Assets pledged or assigned to secure liabilities and for
other purposes..
160
REPORT OF THE COMPTROLLER OF THE CtTRREHCY 160
Assets and liabilities of national banks, by States, at date of each call during year
ended Dec. 81, 1960—Continued
MAINE
[In thousands of dollars]
Mar. 15,
1960
June 15,
1960
Oct. 3,
1960
Dec. 31,
1960
28 banks
27 banks
24 banks
23 banks
ASSETS
Loans and discounts (including overdrafts)
U.S. Government securities, direct obligations
Obligations guaranteed by U.S. Government
Obligations of States and political subdivisions
Other bonds, notes, and debentures
—
Corporate stocks, including stock of Federal Reserve
bank
Reserve with Federal Reserve bank
Currency and coin
Balances with other banks, and cash items in process of
collection
.
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 assets
Total assets..
177,471
82,284
9
15,695
6,619
189,464
81,640
9
18,906
7,116
197,502
82,169
191,300
80,368
*~16~385~
6,011
18,432
6,241
754
24,225
6,710
760
22,906
8,034
748
23,893
7,470
761
20,988
7,646
24,452
6,224
100
26,168
6,293
113
31,621
6,219
129
31,326
6,262
119
146
1,244
134
143
1,357
138
1,519
345,933
363,003
373,647
365,106
150,832
162,856
163,818
163,770
122,909
7
8,297
10,661
7,961
1,940
802,607
178,826
125,790
7
8,993
11,807
7,606
2,558
819,617
192,582
127,085
125,495
7
9,463
17,888
8,105
3,087
827,868
125,000
7
8,822
12,766
8,646
1,857
820,868
194,729
126,189
3,000
7,536
1,472
8,626
2,050
10,539
11,064
313,143
329,715
340,452
331,932
12,147
12,957
6,954
732
12,247
13,060
7,374
607
12,257
12,673
7,708
557
12,426
13,019
7,026
703
6
LIABILITIES
Demand deposits of individuals, partnerships, and
corporations
Time deposits of individuals, partnerships, and corporations
Postal savings deposits
Deposits of U.S. Government
Deposits of States and political subdivisions
Deposits of banks
Other deposits (certified and cashiers' checks, etc.)
Total deposits
Demand deposits
Time deposits
Bills payable, rediscounts, and other liabilities for
borrowed money
Other liabilities
Total liabilities..
124,281
201,216
126,648
CAPITAL ACCOUNTS
Capital stock: Common stock..
Surplus
Undivided profits
Reserves
Total capital accounts
—
Total liabilities and capital accounts .
32,790
33,288
33,195
33,174
345,933
363,003
373,647
365,106
24,998
23,036
26,303
24,011
MEMORANDUM
Assets pledged or assigned to secure liabilities and for
other purposes
REPORT OF THE COMPTROLLER OF THE CtTRREHCY
161
Assets and liabilities of national banks, by States, at date of each call during year
ended Dec. 81, 1960—Continued
MARYLAND
In thousands of dollars]
Mar. 15,
1960
June 15,
1960
Oct. 3,
1960
Dec. 31,
1960
51 banks
50 banks
50 banks
50 banks
ASSETS
Loans and discounts (including overdrafts)
U.S. Government securities, direct obligations
Obligations guaranteed by U.S. Government
Obligations of States and political subdivisions
Other bonds, notes, and debentures
Corporate stocks, including stock of Federal Reserve
bank
Reserve with Federal Reserve bank
Currency and coin
Balances with other banks, and cash items in process of
collection
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 outstanding
Other assets
Total assets
—
403,026
319,211
440,466
309,191
481,303
356,676
509,978
357,616
73,274
17,951
69,931
15,629
73,849
18,765
77,522
20,609
2,023
95,577
19,305
2,033
97,257
20,541
2,481
105,927
20,958
2,495
114,694
20,716
120,259
12,800
368
143,364
13,385
372
156,605
14,676
569
149,888
14,076
549
357
97
4,537
363
60
3,704
369
88
4,767
4,246
1,068,785
1,116,296
1,237,033
1,273,883
358
1.136
LIABILITIES
Demand deposits of individuals, partnerships, and
corporations
Time deposits of individuals, partnerships, and corporations
Postal savings deposits
Deposits of U.S. Government
Deposits of States and political subdivisions
Deposits of banks
Other deposits (certified and cashiers' checks, etc.)
Total deposits
Demand deposits
Time deposits...
Bills payable, rediscounts, and other liabilities for
borrowed money
Acceptances executed by or for account of reporting
banks and outstanding.
Other liabilities
Total liabilities
527,032
532,589
589,911
625,358
252,565
257,087
285,475
302,041
52,530
102,534
67,361
4,907
1,017,008
751,044
265,964
44,547
113,624
82,838
6,434
1,122,829
825,614
297,215
600
700
2,800
97
9,493
60
9,352
88
11,838
1,136
13,742
981,824
1,027,120
1,137,555
1,174,906
20,149
47,274
14,688
4,850
20,449
47,304
16,626
4,797
23,599
54,814
15,495
5,570
23,649
57,444
11,834
6,050
37,227
86,877
62,649
5,284
97 1, 634
710,166
261,468
52,590
86,137
88,561
5,341
1,160,028
846,521
318,507
CAPITAL ACCOUNTS
Capital stock: Common stock
Surplus
Undivided profits
Reserves Total capital accounts
Total liabilities and capital accounts
86,961
89,176
99,478
98,977
1,068,785
1,116,296
1,237,033
1,273,883
162,987
191,598
189,655
183,798
MEMORANDUM
Assets pledged or assigned to secure liabilities and for
other purposes
162
REPORT OF THE COMPTROLLER OF THE CURRENCY 162
Assets and liabilities of national banks, by States, at date of each call during year
ended Dec. 81, 1960—Continued
MASSACHUSETTS
[In thousands of dollars]
Mar. 15,
1960
June 15,
1960
Oct. 3,
1960
Dec. 31,
1960
103 banks
102 banks
102 banks
103 banks
2,015,887
737,581
743
193,379
22,475
2,131,182
717,307
603
194,560
20,499
2,210,065
772,489
589
206,417
21,100
2,103,087
952,990
589
191,444
17,905
11,546
401, 522
57,739
11,683
373,563
60,686
12,211
325,478
53,387
13,324
439,733
55,047
429,546
40,255
326
443,179
41,145
442,114
41,794
421
506,910
42,422
758
1,299
21,636
19,336
1,329
29,140
16,895
1,363
32,407
18,361
1,413
50,246
15,185
3,953,270
4,042,163
4,138,196
4,391,053
2,279,263
2,256,838
2,274,300
2,463,549
463,725
781
177,191
149,205
377,699
35,944
487,954
709
179,444
188,589
401,537
41,834
8,574,867
8,044,967
529,400
486,130
709
144,476
233,867
442,538
35,697
5,806,966
8,272,891
584,575
ASSETS
Loans and discounts (including overdrafts)
—
U.S. Government securities, direct obligations
Obligations guaranteed by U.S. Government
Obligations of States and political subdivisions
Other bonds, notes, and debentures
Corporate stocks, including stock of Federal Reserve
bank
Reserve with Federal Reserve bank
Currency and coin
Balances with other banks, and cash items in process of
collection
—
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 outstanding...
Other assets
Total assets
LIABILITIES
Demand deposits of individuals, partnerships, and
corporations
Time deposits of individuals, partnerships, and corporations
Postal savings deposits
—
Deposits of U.S. Government
Deposits of States and political subdivisions
Deposits of banks
Other deposits (certified and cashiers' checks, etc.)
Total deposits
—
Demand deposits
Time deposits
Bills payable, rediscounts, and other liabilities for
borrowed money
Acceptances executed by or for account of reporting
banks and outstanding
Other liabilities
Total liabilities
-
456,062
781
110,682
170,367
376,148
33,805
8, 427,108
2,941,565
485,548
8,461,888
2,967,487
498,946
18,060
47,885
10,720
22,249
94,386
29, 705
105,505
32, 798
115,407
51,049
117,351
3,561,803
3,644,478
3,733,292
3,975,366
98,480
215,388
60,824
16, 775
98,670
215,268
66,187
17,560
99,220
226,569
61,550
17,565
102,188
232,256
61,920
19,323
CAPITAL ACCOUNTS
Capital stock: Common stock
Surplus
Undivided profits
Reserves
—
Total capital accounts
Total liabilities and capital accounts
391,467
397,685
404,904
415,687
3,953,270
4,042,163
4,138,196
4,391,053
297,120
329,056
337,662
306,001
MEMORANDUM
Assets pledged or assigned to secure liabilities and for
other purposes -
REPORT OF THE COMPTROLLER OF THE CURRENCY
163
Assets and liabilities of national banks, by States, at date of each call during year
ended Dec. 81, 1960—Continued
MICHIGAN
[In thousands of dollars]
Mar. 15,
1960
June 15,
1960
Oct. 3,
1960
Dec. 31,
1960
75 banks
75 banks
75 banks
76 banks
1,958,128
1,166,955
8
430,929
12, 535
1,983,335
1,218,626
22
432,224
11,129
1,970,278
1,292,502
38
433,641
12,636
2,094,494
1,351,243
206
461,103
15,907
8,104
395,812
62,941
8,127
397,650
67,615
8,446
340,796
60,954
8,882
362,143
70,396
394,025
43,009
1,172
418,370
44,079
1,683
45,925
2,530
449,796
48,581
2,424
474
18,881
8,613
313
21,428
8,856
419
21,645
416
23,768
4,501,359
4,613,214
4, 568,274
4,898,317
1,980,642
2,017,858
1,851,595
2,130,334
1,444,033
30
184,313
259,185
197,774
29, 591
4,095,568
2,576,795
1,518,778
1,463,105
30
258,116
218,104
197,069
36,071
4,190,868
1,502,230
Oft
ou
231,312
270,327
204,851
33,439
4,093,784
2,494J65
1,699,019
1,594,841
30
190,031
301,954
204,824
38,947
4,460,961
2,762,889
1,708,122
3,100
15,285
22
17
474
76,426
313
75,903
419
82, 755
416
83,694
4,175,590
4,281,871
4,228,208
4,545,071
93,037
166,278
60,410
6,044
93,324
166,880
65,260
5,879
93,374
177,060
63,269
6,363
97, 701
183,955
64,478
7,112
ASSETS
Loans and discounts (including overdrafts)
U.S. Government securities, direct obligations
Obligations guaranteed by U.S. Government
Obligations of States and political subdivisions
Other bonds, notes, and debentures
Corporate stocks, including stock of Federal Reserve
bank
Reserve with Federal Reserve bank
Currency and coin
Balances with other banks, and cash items in process of
collection
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 outstanding
Other assets—.
—
Total assets.
LIABILITIES
Demand deposits of individuals, partnerships, and
corporations
Time deposits of individuals, partnerships, and corporations
Postal savings deposits
Deposits of U.S. Government
Deposits of States and political subdivisions
Deposits of banks
Other deposits (certified and cashiers' checks, etc.)
Total deposits
Demand deposits
Time deposits
Bills payable, rediscounts, and other liabilities for
borrowed money
Mortgages or other liens on bank premises and other
real estate
.
Acceptances executed by or for account of reporting
banks and outstanding
—
Other liabilities
Total liabilities
-
2,660,816
1, 580,037
51,250
CAPITAL ACCOUNTS
Capital stock: Common stock..
Surplus
Undivided profits
Reserves
Total capital accounts
Total liabilities and capital accounts
325,769
4,501,3
331,343
340,066
353,246
4,613,214
4, 568,274
4,898,317
437,077
460,516
463,082
MEMORANDUM
Assets pledged or assigned to secure liabilities and for
other purposes -
488,270
164
REPORT OF THE COMPTROLLER OF THE CURRENCY 164
Assets and liabilities of national banks, by States, at date of each call during year
ended Dec. 31, 1960—Continued
MINNESOTA
[In thousands of dollars]
Loans and discounts (including overdrafts)
U.S. Government securities, direct obligations
Obligations guaranteed by U.S. Government
Obligations of States and political subdivisions
Other bonds, notes, and debentures
Corporate stocks, including stock of Federal Reserve
bank
Reserve with Federal Reserve bank
—
Currency and coin
Balances with other banks, and cash items in process of
collection
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 outstanding
Other assets
Total assets.
Demand deposits of individuals, partnerships, and
corporations
Tirfie deposits of individuals, partnerships, and corporations^
Postal savings deposits
Deposits of U.S. Government
—
Deposits of States and political subdivisions
Deposits of banks
Other deposits (certified and cashiers' checks, etc.)
Total deposits
Demand deposits
Time deposits
Bills payable, rediscounts, and other liabilities for
borrowed money.
Mortgages or other liens on bank premises and other
real estate
Acceptances executed by or for account of reporting
banks and outstanding
Other liabilities
Total liabilities..
Mar. 15,
1060
June 15,
1960
Oct. 3,
1960
Dec. 31,
1960
179 banks
179 banks
179 banks
179 banks
1,406,461
645,986
124
181,808
43,497
1,453,732
630,788
114
174,005
38,763
1,466,565
628,779
3
172,833
37,555
1,447,489
647,559
7
170,623
41,295
5,501
235,507
26,066
5,608
237,308
28,019
5,657
232,783
24,615
5,701
254,826
26,007
354,014
28,933
1,062
29,755
1,022
30,656
1,013
448,763
30,481
1,018
12,137
1,344
11,581
13,733
771
12,779
14,461
901
13,894
15,073
876
13,594
2,954,021
3,022,796
3,023,114
3,103,312
1,229,475
1,224,116
1,248,904
1,327,894
765,329
68
66,336
157,952
321,341
20,900
2,561, W
1,788,109
778,292
760,615
68
92,551
195,159
352,995
25,369
2,650,878
1,876,827
774,046
774,421
68
103,744
143,143
365,752
24,411
2,660,443
1,871,867
788,676
787,006
68
83,117
171,236
400,012
27,163
2,796,496
1,992,089
804,407
103,345
76, 275
57,475
340
52
61
60
54
1,542
46,102
771
49,191
901
51,801
879
52,303
2,712,442
2,777,171
2,770,680
2,850,072
77,666
108,077
50,700
5,136
78,066
108,025
54,532
5,002
78,616
108,382
60,404
5,032
78,816
110,307
59,179
4,938
CAPITAL ACCOUNTS
Capital stock: Common stock..
Surplus
—
Undivided profits
Total capital accounts
Total liabilities and capital accounts
241,579
245,625
252,434
253,240
2,954,021
3,022,796
3,023,114
1,103,312
442,616
464,906
470,567
452,398
MEMORANDUM
Assets pledged or assigned to secure liabilities and for
other purposes -
REPORT OF THE COMPTROLLER OF THE CtTRREHCY
165
Assets and liabilities of national banks, by States, at date of each call during year
ended Dec. 31, 1960—Continued
MISSISSIPPI
[In thousands of dollars]
#
Mar. 15,
1960
June 15,
1960
Oct. 3,
1960
Dec. 31,
1960
27 banks
27 banks
27 banks
27 banks
ASSETS
Loans and discounts (including overdrafts)
U.S. Government securities, direct obligations
Obligations guaranteed by U.S. Government.
Obligations of States and political subdivisions
Other bonds, notes, and debentures
Corporate stocks, including stock of Federal Reserve
Reserve with Federal Reserve bank
Currency and coin
Balances with other banks, and cash items in process of
collection
-- -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 outstanding
0 ther assets
Total assets
-
153,608
103,061
158,601
94,546
161,368
91,082
166,725
101,130
44,242
4,044
44,443
3,280
45,257
2,511
46,044
2,337
853
32,015
8,426
855
27,063
8,650
861
27,809
7,017
865
26,611
9,409
43, 5"3
5,057
66
46, 754
5.265
68
45,915
5,319
179
60,074
5,124
179
500
500
500
935
1,018
1,322
500
16
1,308
396,310
391,043
389,140
420,322
175,475
174,611
171,007
182,557
85,665
87,099
88,385
89,230
8,383
63,876
28,465
1,362
363,226
275,539
87,687
10,314
59,127
24,341
1,016
356,508
267,547
88,961
9,017
53,855
26,807
835
349,906
258,935
90,971
10,370
57,326
44,870
1,910
386,263
293,447
92,816
LIABILITIES
Demand deposits of individuals, partnerships, and
corporations.
Time deposits of individuals, partnerships, and corporations
Postal savings deposits
Deposits of U.S. Government
Deposits of States and political subdivisions
Deposits of banks
Other deposits (certified and cashiers' checks, etc.)..Total deposits
Demand deposits
Time deposits
Bills payable, rediscounts, and other liabilities for
borrowed money
Acceptances executed by or for account of reporting
banks and outstanding
Other liabilities
Total liabilities.
400
3,700
2,815
3,502
3,603
18
3,440
366,441
360,010
357,209
389,721
7, 965
20,504
1,139
261
7,965
20,614
2,278
176
7, 965
20,779
2,836
351
8,090
21,856
337
318
CAPITAL ACCOUNTS
Capital stock: Common stock
Surplus
Undivided profits
Reserves
-
Total capital accounts
Total liabilities and capital accounts
29,869
31,033
31,931
30,601
396,310
391,043
389,140
420,322
82,296
82,416
80,658
81,229
MEMORANDUM
Assets pledged or assigned to secure liabilities and for
other purposes
166
REPORT OF THE COMPTROLLER OF THE CURRENCY 166
Assets and liabilities of national banks, by States, at date of each call during year
ended Dec. 81, 1960—Continued
MISSOURI
[In thousands of dollars]
Loans and discounts (including overdrafts)
U.S. Government securities, direct obligations
Obligations guaranteed by U.S. Government
Obligations of States and political subdivisions
Other bonds, notes, and debentures
Corporate stocks, including stock of Federal Reserve
bank
Reserve with Federal Reserve bank
Currency and coin
Balances with other banks, and cash items in process of
collection
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 outstanding
Other assets
Total assets.
Mar. 15,
I960
June 15,
1960
Oct. 3,
1960
Dec. 31,
1960
77 banks
77 banks
77 banks
77 banks
1,040,604
511,100
34
126,550
12,016
1,054,065
478,050
9
129,143
9,582
1,067,777
499,137
21
125,156
9,190
1,071,255
609,762
14
128,731
9,355
4,324
232,406
20,562
4,334
214,304
21,713
4,568
235,444
19,984
4,611
245,266
22,834
328,651
15,585
1,095
16,216
1,071
329,624
16,416
995
407,682
17,470
1,450
813
8,466
1,449
429
8,843
1,506
312
9,219
2,070
237
8,907
2,303,656
2,277,866
2,319,349
2,529,187
1,182,
1,176,589
1,177,686
1,244,703
361,
365,878
28
75,753
58,136
366,700
17,770
385,805
28
81,482
56,660
386,098
13,068
395,035
28
70,279
119,361
462,813
17,527
429
20,466
313
24,341
237
24,599
2,117,259
2,089,335
2,125,581
2,334,582
62,818
78,048
41,442
4,089
62,818
78,598
43,284
3,831
62,818
79,706
46,638
4,606
64,318
80,048
45,481
4,758
186,397
188,531
193,768
194,605
2, 303,656
2,277,866
2,319,349
2,529,187
243,192
241,862
245,543
276,417
LIABILITIES
Demand deposits of individuals, partnerships, and
corporations
Time deposits of individuals, partnerships, and corporations
Postal savings deposits
Deposits of U.S. Government
Deposits of States and political subdivisions
Deposits of banks
Other deposits (certified and cashiers' checks, etc.)
Total deposits
Demand deposits
Time deposits
—
Bills payable, rediscounts, and other liabilities for
borrowed money
—
Mortgages or other hens on bank premises and other
real estate
Acceptances executed by or for account of reporting
banks and outstanding
Other liabilities
Total liabilities..
51,
13,
2,044,
1,668,
S76,
52,
19,
2,060,854 2,100,827 2,809,746
1,679,758 1,696,452 1,895,692
881,096 404,875
414,054
7,586
100
CAPITAL ACCOUNTS
Capital stock: Common stockSurplus
Undivided profits
Total capital accounts
Total liabilities and capital accounts
MEMORANDUM
Assets pledged or assigned to secure liabilities and for
other purposes -
REPORT OF THE COMPTROLLER OF THE CtTRREHCY
167
Assets and liabilities of national banks, by States, at date of each call during year
ended Dec. 81, 1960—Continued
MONTANA
[In thousands of dollars]
Mar. 15,
1960
June 15,
1960
Oct. 3,
1960
Dec. 31,
1960
41 banks
41 banks
42 banks
42 banks
ASSETS
Loans and discounts (including overdrafts)
U.S. Government securities, direct obligations
Obligations of States and political subdivisions
Other bonds, notes, and debentures
Corporate stocks, including stock of Federal Reserve
bank
Reserve with Federal Reserve bank
Currency and coin
Balances with other banks, and cash items in process of
collection
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 outstanding
Other assets
Total assets.
180,516
121,405
191,911
112,501
193,769
120,719
192,028
137,285
24,866
8,748
25,479
6,873
26,872
7,243
28,803
10,420
623
29,584
4,688
631
30,558
4,938
648
29,053
4,810
682
28,720
5,439
37,149
6,296
431
36, 587
6,746
434
47, 570
7,272
443
47,904
7,355
398
16
5
1,618
16
17
1,703
16
12
2,224
16
9
2,246
415,945
418,394
440,651
461,305
202,126
193,953
212,840
216,985
120,000
121,645
126,274
130,829
7,651
35,158
12,444
3,509
380,888
254, 678
126,210
8,477
40,262
12,388
3,523
380,248
252,528
127,725
7,796
34,740
14,096
3,673
399,419
266,378
188,046
8,080
41,887
18,207
3,577
419,565
281,922
137,648
600
400
900
1,400
5
6,835
17
8,724
12
9,428
9
9,155
388,328
389,389
409,759
430,129
10,208
10, 622
6,601
186
10,358
10,674
7,792
181
10,668
10,934
9,107
183
10,993
11,788
8,090
305
27,617
LIABILITIES
Demand deposits of individuals, partnerships, and
corporations
Time deposits of individuals, partnerships, and corporations
Postal savings deposits
Deposits of U.S. Government
Deposits of States Mid political subdivisions
Deposits of banks
Other deposits (certified and cashiers' checks, etc.)
Total deposits
Demand deposits
Time deposits
Bills payable, rediscounts, and other liabilities for
borrowed money
Acceptances executed by or for account of reporting
banks and outstanding
Other liabilities
Total liabilities
-
CAPITAL ACCOUNTS
Capital stock: Common stock.
Surplus
Undivided profits
Reserves
Total capital accounts
Total liabilities and capital accounts
29,005
30,892
31,176
415,945
418,394
440,651
461,305
68,625
70,323
73,387
78,903
MEMORANDUM
Assets pledged or assigned to secure liabilities and for
other purposes...
168
REPORT OF THE COMPTROLLER OF THE CtTRREHCY 168
Assets and liabilities of national banks, by States, at date of each call
ended Dec. 81, 1960—Continued
year
NEBRASKA
[In thousands of dollars]
Mar. 15,
1960
June 15,
1960
Oct. 3,
1960
Dec. 31,
1960
122 banks
121 banks
121 banks
121 banks
519,431
286,895
532,824
286,680
565,035
299,553
84, 248
%253
79,147
8,735
78,065
8,025
78,795
8,474
%177
116, 803
11, 301
2,183
102,342
12,508
2,203
111,775
10,481
2,206
109,737
11,442
», 972
!, 117
157,114
8,537
1,159
170,645
9,066
482
186,454
10,166
467
1,755
4,374
1,850
4,899
1,861
3,820
1,182,198
1,184,180
1,216,995
1,278,010
666,078
656,054
674,342
707,186
ASSETS
Loans and discounts (including overdrafts)—
U.S. Government securities, direct obligations
Obligations guaranteed by U.S. Government
Obligations of States and political subdivisions
Other bonds, notes, and debentures
Corporate stocks, including stock of Federal Reserve
bank
Reserve with Federal Reserve bank
Currency and coin
—
Balances with other banks, and cash items in process of
collection—
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 assets
Total assets..
504,
298,
LIABILITIES
Demand deposits of individuals, partnerships, and
corporations
Time deposits of individuals, partnerships, and corporations
Postal savings deposits
Deposits of U.S. Government
Deposits of States and political subdivisions
Deposits of banks
Other deposits (certified and cashiers' checks, e t c . ) —
Total deposits
Demand deposits
Time deposits
Bills payable, rediscounts, and other liabilities for
borrowed money
Other liabilities
Total liabilities..
140,772
24
42,181
82,008
136,006
7,486
1,064,581
922,605
141,926
147,203
24
35,328
72,503
157,930
5,612
1,092,942
944,670
148,872
149,901
24
40,511
72,391
173,591
10,944
1,154,548
1,008,282
151,816
11,501
7,554
6,760
8,173
7,650
9,521
6,895
9,510
1,079,881
1,079,464
1,110,113
1,170,953
28,878
42,523
27,576
3,340
29,193
42,696
29,654
3,173
29,543
42,920
31,118
3,301
29,583
43,463
29,963
4,048
137,407
29
30,438
87,961
130,682
8,231
1,060,826
922,204.
188,622
CAPITAL ACCOUNTS
Capital stock: Common stockSurplus
Undivided profits
102,317
104,716
106,882
107,057
—
1,182,198
1,184,180
1,216,995
1,278,010
Assets pledged or assigned to secure liabilities and for
other purposes
—
178,689
184,846
183,885
189,740
Total capital accounts
Total liabilities and capital accounts
MEMORANDUM
REPORT OF THE COMPTROLLER OF THE CtTRREHCY
169
Assets and liabilities of national banks, by States, at date of each call during year
ended Dec. 81, 1960—Continued
NEVADA
[In thousands of dollars]
Mar. 15,
1960
June 15,
1960
Oct. 3,
1960
Dec. 31,
1960
3 banks
3 banks
3 banks
3 banks
ASSETS
Loans and discounts (including overdrafts)
U.S. Government securities, direct obligations
Obligations guaranteed by U.S. Government
Obligations of States and political subdivisions...
Other bonds, notes, and debentures.
Corporate stocks, including stock of Federal Reserve
bank
Reserve with Federal Reserve bank
Currency and coin
Balances with other banks, and cash items in process of
collection
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 assets
Total assets.
153,472
79,825
159,254
76,270
165,600
86,056
170,291
79,691
32,420
5,262
31,253
1,665
30,364
1,648
30,077
1,648
335
21,490
4,369
485
24,121
5,294
485
24,765
5,409
485
25,226
4,682
14, 670
5,314
155
14,524
5, 537
154
15, 617
6,004
152
9,627
6,081
151
187
1,416
178
2,079
170
1,633
162
1,667
318,915
320,814
337,903
329,788
133,756
134,924
138,737
134,690
105,796
105,968
112,088
114,490
5,123
41,113
920
2,802
289,510
174,971
114,589
5,000
7,637
35,372
546
3,800
288,247
175,786
112,511
4,500
10,425
43,865
210
3,097
808,422
187,414
121, 008
8,481
39,604
430
2,829
800,524
176,162
124,862
LIABILITIES
Demand deposits of individuals, partnerships, and
corporations
Time deposits of individuals, partnerships, and corporations
Postal savings deposits
__
Deposits of U.S. Government
Deposits of States and political subdivisions
Deposits of banks
Other deposits (certified and cashiers' checks, etc.)
Total deposits
Demand deposits
Time deposits
Bills payable, rediscounts, and other liabilities for
borrowed money
__
Other liabilities
Total liabilities
4,791
8,043
8,594
7,890
299,301
300,790
317,016
308,414
6,025
10,125
3,414
50
6,025
10,125
3,824
50
6,025
10,125
4,687
50
6,100
10,200
5,009
65
CAPITAL ACCOUNTS
Capital stock: Common stock
Surplus
Undivided profits
Reserves
Total capital accounts
Total liabilities and capital accounts
19, 614
20,024
20,887
21,374
318, 915
320,814
337,903
329,788
60,338
64,073
62.475
64,614
MEMORANDUM
Assets pledged or assigned to secure liabilities and for
other purposes
REPORT OF THE COMPTROLLER OF THE CtTRREHCY 170
Assets and liabilities of national banks, by States, at date of each call during year
ended Dec. 81, 1960—Continued
NEW HAMPSHIRE
[In thousands of dollars]
Mar. 15,
1960
June 15,
1960
Oct. 3,
1960
Dec. 31,
1960
51 banks
51 banks
51 banks
51 banks
ASSETS
Loans and discounts (including overdrafts)
U.S. Government securities, direct obligations
Obligations of States and political subdivisions
Other bonds, notes, and debentures
Corporate stocks, including stock of Federal Reserve
bank
Reserve with Federal Reserve bank
Currency and coin
Balances with other banks, and cash items in process of
collection
-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 assets
Total assets
146,872
72,838
10
16,833
2,049
156,440
65.693
10
18.860
1,727
163,720
75,550
163,047
80,183
20,681
1,670
15,971
1,680
676
24,278
7,715
676
20,277
8,408
679
19,511
7,912
718
21,191
8,163
32,139
4,649
211
33,827
4,892
132
41,393
5,032
230
37,069
4,984
284
61
314
67
316
54
372
45
346
308,645
311,325
336,804
333,681
164,020
164,885
181,401
171,617
58,439
10
11,215
19,731
10,712
2, 647
266, 774
207,480
59,294
57,823
10
12,484
17,300
9,924
2,773
265,199
206, S90
58,809
63,037
10
11,666
22,052
11.787
2,607
292,560
227,8S6
64,724
61,900
10
13.004
27,948
11. 480
2,486
288,445
225,911
62,5S4
LIABILITIES
Demand deposits of individuals, partnerships, and
corporations...
Time deposits of individuals, partnerships, and corporations
Postal savings deposits
Deposits of U.S. Government
Deposits of States and political subdivisions
Deposits of banks
Other deposits (certified and oashiers' checks, etc.)
Total deposits
Demand deposits
Time deposits
Bills payable, rediscounts, and other liabilities for
borrowed money
Mortgages or other liens on bank premises and other
real estate
Other liabilities
Total liabilities
1,150
1,915
35
200
9,400
12,195
11,299
56
11,950
277,324
279,309
303,894
300,651
6,469
16,059
7,600
1,193
6,469
16,059
8,465
1,023
6,509
16,315
8,723
1,363
6,509
17,873
7,152
1,496
CAPITAL ACCOUNTS
Capital stock: Common stock
Surplus
Undivided profits
Reserves
Total capital accounts
Total liabilities and capital accounts
31,321
32,016
308,645
311,325
27,071
22,800
~
32,910
33,030
336,804
333,681
26,002
27,454
MEMORANDUM
Assets pledged or assigned to secure liabilities and for
other purposes
REPORT OF THE COMPTROLLER OF THE CtTRREHCY
171
Assets and liabilities of national banks, by States, at date of each call during year
ended Dec. 81, 1960—Continued
NEW JERSEY
[In thousands of dollars]
Mar. 15,
1960
June 15,
1960
Oct. 3,
1960
Dec. 31,
1960
162 banks
162 banks
160 banks
160 banks
1,837,300
1,075,586
306
531,648
82,886
1,965,550
1,046,306
458
538,967
70,635
2,009,281
1,079,324
424
555,614
64,187
2,045,607
1,174,304
168
553,384
68,727
7,553
305,979
79,560
7,683
266,722
83,676
8,110
276,097
83,289
8,342
304,802
88,276
278,740
54,979
1,146
293,224
56,378
1,119
313,692
57,005
1,254
337,345
58,490
1,328
800
78
15,301
812
278
15,245
808
211
16,859
805
671
16,731
4,271,862
4,347,053
4,466,155
4,658,980
1,722,634
1,759,926
1,766,675
1,928,268
1,691,236
1,712,742
1,767,196
1,811,347
80,098
272,735
37,821
36,012
8,840,586
2,121,469
1,719,067
106,865
248,032
40,333
42,278
8,910,176
2,168,068
1,742,108
99,819
315,076
38,804
37,741
4,025,811
2,222,926
1,802,885
105,793
299,797
46,626
37,363
4,229,194
2,881,978
1,847,221
47,975
29,527
21,800
1,100
78
79,891
278
95,192
211
96,478
671
103,828
3,968,480
4,035,173
4,143,800
4,334,845
237
94,646
94,888
148,722
51,871
7,906
237
95, 781
96,018
151,662
56,494
7,706
237
97,496
97,788
154,618
61,414
8,590
237
99,126
99,868
161,358
53,335
10,079
ASSETS
Loans and discounts (including overdrafts)—,
U.S. Government securities, direct obligations
Obligations guaranteed by U.S. Government
Obligations of States and political subdivisions
Other bonds, notes, and debentures
Corporate stocks, including stock of Federal Reserve
bank
Reserve with Federal Reserve bank
Balances with other banks, and cash items in process of
collection
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 outstandingOther assets
Total assets
LIABILITIES
Demand deposits of individuals, partnerships, and
corporations
Time deposits of individuals, partnerships, and corporations
Postal savings deposits
Deposits of U.S. Government
Deposits of States and political subdivisions
Deposits of banks
Other deposits (certified and cashiers' checks, etc.)
Total deposits
Demand deposits
Time deposits
Bills payable, rediscounts, and other liabilities for
borrowed money
Mortgages or other liens on bank premises and other
real estate
Acceptances executed by or for account of reporting
banks and outstanding
Other liabilities
Total liabilities
52
CAPITAL ACCOUNTS
Capital stock:
Preferred stock
Common stock
Total capital stock
Surplus
Undivided profits
Reserves and retirement account for preferred stock
Total capital accounts
Total liabilities and capital accounts
303,382
311,880
322,355
324,135
4,271,862
4,347,053
4,466,155
4,658,980
296,619
296,390
299,904
290,705
MEMORANDUM
Assets pledged or assigned to secure liabilities and for
other purposes
-
REPORT OF THE COMPTROLLER OF THE CtTRREHCY 172
Assets and liabilities of national banks, by States, at date of each call during year
ended Dec. 31, 1960—Continued
NEW M E X I C O
[In thousands of dollars]
Mar. 15,
1960
June 15,
1960
Oct. 3,
1960
Dec. 31,
1960
27 banks
27 banks
29 banks
29 banks
ASSETS
Loans and discounts (including overdrafts)
U.S. Government securities, direct obligations—
Obligations of States and political subdivisions.
Other bonds, notes, and debentures
Corporate stocks, including stock of Federal Reserve
bank
Reserve with Federal Reserve bank
Currency and coin
Balances with other banks, and cash items in process of
collection
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 assets
Total assets
202,200
164,951
217,860
154,007
216,774
149,041
225,367
158,018
21,294
2,271
21,401
2,250
20,942
2,007
20,925
2,812
685
39,999
8,124
685
31,244
8,730
850
43,575
8,626
861
35,862
9,776
56,629
6,135
502
52,045
6,304
408
57,960
6,656
285
79,625
6,810
279
186
181
885
1,028
183
8
1,233
1,500
503,861
496,143
508,140
542,021
251,278
250,082
245,652
256,226
97,896
11
16,045
82,882
13,978
4,381
466,471
852,364
114,107
100,428
11
18,727
72,365
12,946
3,999
458,558
889,498
119,060
105,877
11
15,551
75,170
13,654
5,335
461,250
330,668
ISO, 582
107,719
11
21,042
88,840
17,243
6,177
497.258
862,999
134.259
1,050
180
186
LIABILITIES
Demand deposits of individuals, partnerships, and
corporations
Time deposits of individuals, partnerships, and corporations
Postal savings deposits
Deposits of U.S. Government
Deposits of States and political subdivisions
Deposits of banks
Other deposits (certified and cashiers' checks, etc.)
Total deposits
Demand deposits
Time deposits
Bills payable, rediscounts, and other liabilities for
borrowed money
Mortgages or other liens on bank premises and other
real estate
Acceptances executed by or for account of reporting
banks and outstanding
•_ .
Other liabilities
Total liabilities
825
435
28
28
5,582
5,715
8
7,970
473,103
464,453
470,081
504,323
11,070
11,800
4,479
3,409
11,070
11,800
5,592
3,228
14,020
14,325
6,604
3,110
14,070
14,300
4,605
4,723
6,602
CAPITAL ACCOUNTS
Capital stock: Common stock .
Surplus
Undivided profits
Reserves
Total capital accounts
Total liabilities and capital accounts
30,758
31,690
38,059
37,698
503,861
496,143
508,140
542,021
116,713
119,564
117,575
119.163
MEMORANDUM
Assets pledged or assigned to secure liabilities and for
other purposes.
REPORT OF THE COMPTROLLER OF THE CURRENCY
173
Assets and liabilities of national banks, by States, at date of each call during year
ended Dec. 31, 1960—Continued
NEW YORK
[In thousands of dollars]
Mar. 15,
1960
June 15,
1960
Oct. 3,
1960
Dec. 31,
1960
246 banks
244 banks
242 banks
239 banks
6,324, 852
2,213,525
1,104
960,625
117,976
6,525,294
2,384,238
823
925,691
120,259
6,458,514
2,625,905
176
976,699
118,359
6,591,638
2,766,040
91
995,030
117,497
36,988
1,021,989
98,868
37,251
1,137,169
107,105
37,374
1,197,426
110,876
37,687
1,021,126
112,512
1,143,975
129,623
2, 787
1,247,492
138, 524
3,221
1,260, 619
161, 821
3,474
1,580, 746
170,562
3,487
4,480
115,851
128,423
5,665
129,581
125,973
6,313
135, 578
132,680
5,923
141,847
153,503
12,301,066
12,888,286
13,225,814
13,697,689
5,485,654
6,087,461
3,089,392
3,154,113
490,066
649,462
1,009, 642
433,733
11,157,949
7,652,793
3,505,156
349,114
561,635
1,199,580
522,510
11,874,413
8,281,971
3,592,442
208,640
800
ASSETS
Loans and discounts (including overdrafts)
U.S. Government securities, direct obligations
Obligations guaranteed by U.S. Government
Obligations of States and political subdivisions
Other bonds, notes, and debentures
Corporate stocks, including stock of Federal Reserve
Reserve with Federal Reserve bank
Currency and coin
Balances with other banks, and cash items in process of
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 outstanding
Other assets
Total assets
LIABILITIES
Demand deposits of individuals, partnerships, and
5, 576,320
5,5®, 118
corporations
Time deposits of individuals, partnerships, and corpo2,938,597
2,872,071
rations
- Postal savings deposits
304,625
216,370
Deposits of U.S. Government
564,694
525,402
Deposits of States and political subdivisions
941,
787
936,198
Deposits of banks
469,807
348,505
Other deposits (certified and cashiers' checks, etc.)
10,795,830
10,477,664
Total deposits
7,521,979
7,845,486
Demand deposits
S, 132,178 3,273,851
Time deposits
Bills payable, rediscounts, and other liabilities for
108,179
250,804
borrowed money
Mortgages or other liens on bank premises and other
104
227
real estate
Acceptances executed by or for account of reporting
134,300
119,802
banks and outstanding
543,223
446, 685
Other liabilities
Total liabilities
154
107
140,595
530,017
147,201
468, 714
11,152,434
11, 724,384
12,037,355
12,491,235
175
378,139
378,314
579,447
182,450
8,421
168
378,917
379,085
581,034
195, 048
8, 735
168
380,698
380,866
579,416
220,153
8,024
168
384,229
884,397
585, 653
227,944
8,460
CAPITAL ACCOUNTS
Capital stock:
Preferred stock
Common stock.
Total capital stock
Surplus
Undivided profits
.
Reserves and retirement account for preferred stock...
Total capital accounts
Total liabilities and capital accounts
1,148,632
1,163,902
1,188,459
1,206,454
12,301,066
12,888,286
13,225,814
13,697,689
1,120, 648
1,307,309
1,546,856
1,271,900
MEMORANDUM
Assets pledged or assigned to secure liabilities and for
other purposes
698026—61
12
REPORT OF THE COMPTROLLER OF THE CtTRREHCY 174
Assets and liabilities of national banks, by States, at date of each call during year
ended December 81, 1960—Continued
NORTHfCAROLINA
[In thousands of dollars]
Mar. 15,
1960
June 15,
1960
Oct. 3,
1960
Dec. 31,
1960
39 banks
38 banks
37 banks
36 banks
ASSETS
Loans and discounts (including overdrafts)
U.S. Government securities, direct obligations
Obligations of States and political subdivisions
Other bonds, notes, and debentures
Corporate stocks, including stock of Federal Reserve
bank
Reserve with Federal Reserve bank
—
Balances with other banks, and cash items in process of
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 assets.
339,791
155,788
361,223
143,384
495,733
181,855
501,769
217,284
48,531
11,608
46,744
8,794
57,368
11,000
59,411
14,184
1,640
49,557
17,854
1,618
45,409
19,938
2,277
66,383
24,081
2,335
64,857
24,399
89,273
10,517
162
91,259
10,887
220
159,320
13,719
116
180,542
14,462
150
419
415
2,865
2,580
2,911
56
3,892
3,947
67
3,969
728,005
732,471
1,018,711
1,087,376
408,235
LIABILITIES
Demand deposits of individuals, partnerships, and
corporations
_
Time deposits of individuals, partnerships, and corporations
..
Postal savings deposits
Deposits of U.S. Government
Deposits of States and political subdivisions
Deposits of banks.
Other deposits (certified and cashiers' checks, etc.)
Total deposits
Demand deposits
Time deposits
Bills payable, rediscounts, and other liabilities for
borrowed money
Acceptances executed by or for account of reporting
• banks and outstanding
Other liabilities
Total liabilities
-
388,826
507,946
559,442
135,060
135,425
26,825
46,763
15,118
5,901
637,902
489,836
148,066
34,127
57,694
17,005
4,087
687,164
470,679
166,485
164,793
2
36,143
76,036
100,389
5,685
890,994
691,684
199,860
168,589
2
34,705
80,408
114,736
7,225
965,107
761,967
208,140
1,875
2,947
1,450
21,890
23,786
56
35,656
67
30,915
661,667
663,897
928,156
996,089
16,493
36,840
11,668
1,337
16,742
37,165
13,296
1,371
25,267
50,686
13,127
1,475
26,292
51,351
12,005
1,639
CAPITAL ACCOUNTS
Capital stock: Common stock
Surplus
Undivided profits _
Reserves
Total capital accounts
Total liabilities and capital accounts
66,338
68,574
90,555
91,287
728,005
732,471
1,018,711
1,087,376
108,827
124,896
147,892
152,414
MEMORANDUM
Assets pledged or assigned to secure liabilities and for
other purposes
REPORT OF THE COMPTROLLER OF THE CtTRREHCY
175
Assets and liabilities of national banks, by States, at date of each call during year
ended Dec. 81, 1960—Continued
NORTH DAKOTA
[In thousands of dollars]
Mar. 15,
1960
June 15,
1960
Oct. 3,
1960
Dec. 31,
1960
38 banks
38 banks
38 banks
38 banks
ASSETS
Loans and discounts (including overdrafts)
U.S. Government securities, direct obligations..
Obligations guaranteed by U.S. Government
Obligations of States and political subdivisions
Other bonds, notes, and debentures
Corporate stocks, including stock of Federal Reserve
bank
Reserve with Federal Reserve bank
Currency and coin._
__
Balances with other banks, and cash items in process of
collection
.
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 assets
Total assets
154,302
121,307
5
25,149
11,622
171,946
165,392
107,540
110,345
5
25,023 ""~26~015~
9,873
10,049
171,200
111, 202
10
28,449
10,862
570
29,173
3,890
570
28,012
3,854
587
28,753
3,527
613
29,143
4,391
24,506
5,249
176
22,572
5,441
131
32,878
5,896
61
29,832
5,722
60
250
1,590
250
1,955
250
1,886
250
1,924
377,789
373,599
389, 212
393,658
174,553
172,838
191,431
193,382
122,700
6
7,537
28,855
10, 281
2,792
846,784
220,443
126,281
123, 298
6
7,394
22,415
9,324
2,570
387,845
211,161
126,684
125,267
6
6,041
17,840
11,641
2,258
354,484
225,427
129,057
126,848
6
9,395
16,379
10,141
3,543
359,694
229,190
ISO, 504
LIABILITIES
Demand deposits of individuals, partnerships, and
corporations
Time deposits of individuals, partnerships, and corporations
. . .
Postal savings deposits
Deposits of U.S. Government
Deposits of States and political subdivisions
Deposits of banks
-Other deposits (certified and cashiers' checks, etc.)
Total deposits
Demand deposits
_
--Time deposits
-Bills payable, rediscounts, and other liabilities for
borrowed m o n e y
_
Other liabilities. __
-
-
Total liabilities
500
5,062
4,350
5,267
1,286
5,747
200
6,141
352, 286
347,462
361,517
366,035
8,090
10,901
5,983
529
8,090
10,910
6,613
524
8,290
11,268
7,613
524
8, 290
12,382
6,302
649
CAPITAL ACCOUNTS
Capital stock: Common stock
Surplus
Undivided profits
Reserves
-
Total capital accounts
Total liabilities and capital accounts
25,503
26,137
27, 695
27,623
377,789
373,599
389, 212
393,658
57,175
59,315
58,013
59,856
MEMORANDUM
Assets pledged or assigned to secure liabilities and for
other purposes
176
REPORT OF THE COMPTROLLER OF THE CURRENCY
Assets and liabilities of national banks, by States, at date of each call during year
ended Dec. 31, 1960—Continued
OHIO
[In thousands of dollars]
Mar. 15,
1960
June 15,
1960
Oct. 3,
1960
Dec. 31,
1960
223 banks
223 banks
223 banks
223 banks
2,742, 481
1, 628, 941
360
427,997
63,010
2, 866,887
1, 597,471
360
430,837
66,058
2, 896,192
1, 661,343
261
442,000
72,891
2,917,375
1,790,611
261
440,209
76,348
12,329
543,128
96, 274
12, 488
559,944
100,287
12,888
465,567
13,433
458,926
99,581
583, 917
72, 827
1,414
617, 551
73,578
1,388
587,984
76,010
1,439
608,972
76,997
1,349
3, 735
128
21, 205
164
22,448
3,965
236
24, 628
3,965
513
21,194
6,197,746
6,353,320
6,332,370
6,509,734
2,742, 288
2, 755,431
2,634, 640
2,865,449
1,917, 548
160
150, 454
410,005
264,977
58, 571
1,925,977
160
205,596
431,211
279,276
51, 732
1,985,551
160
208,561
460,745
272,250
57,369
2,035,629
160
175,945
423,999
280, 206
60,818
42, 692
63,123
40, 694
14
23
20
18
18
128
103,153
164
122,088
143,026
513
133,318
5, 689,999
5,834,778
5,803,250
5,976,0Q9
163,015
248,046
93,481
3,205
163, 650
252, 597
99,302
2,993
164, 510
255,817
105,432
3,361
164,897
272,577
92,376
3,815
ASSETS
Loans and discounts (including overdrafts)
U.S. Government securities, direct obligations
Obligations guaranteed by U.S. Government
Obligations of States and political subdivisions
Other bonds, notes, and debentures
Corporate stocks, including stock of Federal Reserve
bank
Reserve with Federal Reserve bank
Currency and coin
Balances with other banks, and cash items in process of
collection
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 outstanding
Other assets
Total assets
...
...
LIABILITIES
Demand deposits of individuals, partnerships, and
corporations.
Time deposits of individuals, partnerships, and corporations
Postal savings deposits
Deposits of U.S. Government
Deposits of States and political subdivisions
Deposits of banks.
Other deposits (certified and cashiers' checks, etc.)
Total deposits
Demand deposits
Time deposits
Bills payable, rediscounts, and other liabilities for
borrowed money
Mortgages or other liens on bank premises and other
real estate
Acceptances executed by or for account of reporting
banks and outstanding.
Other liabilities
Total liabilities
-
-
5,5.U, 008 5,649,888 5,619,276 5,842,206
8,548,229 3,644,005 8,542,633 3,714,077
1,995,774 2, 005,878 2, 076,648 2,128,129
CAPITAL ACCOUNTS
Capital stock: Common stock
Surplus
Undivided profits
Reserves
Total capital accounts
Total liabilities and capital accounts
533,665
507,747
518,542
529,120
6,197,746
», 353,320
>, 332,370
6,509,734
929,862
991,934
1,015,632
977,600
MEMORANDUM
Assets pledged or assigned to secure liabilities and for
other purposes
REPORT OF THE COMPTROLLER OF THE CURRENCY
177
Assets and liabilities of national banks, by States, at date of each call during year
ended Dec. 81, 1960—Continued
OKLAHOMA
[In thousands of dollars]
Loans and discounts (including overdrafts)
U.S. Government securities, direct obligations
Obligations guaranteed by U.S. Government
Obligations of States and political subdivisions
Other bonds, notes, and debentures
Corporate stocks, including stock of Federal Reserve
bank
Reserve with Federal Reserve bank
Currency and coin
Balances with other banks, and cash items in process of
collection
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 outstanding
Other assets
Total assets
Mar. 15,
1960
June 15,
1960
Oct. 3,
1960
198 banks
198 banks
199 banks
839,490
562, 568
17
161,752
20,645
879,408
535,217
17
163,157
19,068
885,975
529,242
4,343
222,049
25,079
4,370
224, 612
26, 551
4,464
187,040
22, 524
321,028
28,930
760
306, 703
29,230
772
330,006
29,454
1,118
6,319
1,252
4,080
6,194
847
4,106
6,112
805
4,770
2,198,312
2, 200,252
2,181, 771
1,189,973
1,150,030
1,108,819
333,178
91
45,923
182,977
194, 586
15,191
344,678
91
67,331
164,856
194,151
15,163
366.400
91
73,810
156,417
199,072
16,073
21,820
44, 209
32, 520
2
2
2
1,252
10,956
847
11, 767
805
14,325
1,995,949
1, 993,125
1,968, 334
56,668
82,430
58.757
4,508
57, 318
82,930
62, 709
4,170
58, 863
84,333
65,802
4,439
161,006
19,255
LIABILITIES
Demand deposits of individuals, partnerships, and
corporations
Time deposits of individuals, partnerships, and corporations.—
Postal savings deposits
Deposits of U.S. Government
Deposits of States and political subdivisions
Deposits of banks
Other deposits (certified and cashiers' checks, etc.)
Total deposits
Demand deposits
Time deposits
Bills payable, rediscounts, and other liabilities for
borrowed money
Mortgages or other liens on bank premises and other
real estate
Acceptances executed by or for account of reporting
banks and outstanding
Other liabilities
Total liabilities
1,961,919 1,936,800 1,920,6 ~1,623,024 1,586,074 1,547,850
350,226 372,882
CAPITAL ACCOUNTS
Capital stock: Common stock..
Surplus
Undivided profits
Reserves
Total capital accounts
Total liabilities and capital accounts.
202,363
213,437
2,198,312
2,181,771
MEMORANDUM
Assets pledged or assigned to secure liabilities and for
other purposes -
385,843
417,818
399,727
178
REPORT OF THE COMPTROLLER OF THE CURRENCY
and liabilities of national banks, by States, at date of each call during year
ended Dec. 31, 1960—Continued
OREGON
[In thousands of dollars]
Mar. 15,
1960
June 15,
1960
Oct. 3,
1960
Dec. 31,
1960
11 banks
11 banks
10 banks
10 banks
892,319
440,997
922.865
423,914
6
153.866
16,852
907,647
425,026
161,442
11,166
928,896
418,535
6
155,839
3,509
2,977
185,389
13,282
2,977
164,355
13,976
2,972
169,541
13,589
3,093
192,208
15,634
143,121
29,425
815
145,604
30,037
604
136,568
30,754
385
140,433
31,491
470
9
585
7,472
7
1,594
7,925
4
2,640
9,169
114
1,448
10,730
1,888,999
1,873,864
1,883,125
1,940,482
801,012
790,481
781,503
757,565
ASSETS
Loans and discounts (including overdrafts)
U.S. Government securities, direct obligations
Obligations guaranteed by U.S. Government.
Obligations of States and political subdivisions
Other bonds, notes, and debentures
Corporate stocks, including stock of Federal Reserve
bank
Reserve with Federal Reserve bank
Currency and coin..
Balances with other banks, and cash items in process of
collection
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 outstanding
Other assets
Total assets
167^676
44,612
LIABILITIES
Demand deposits of individuals, partnerships, and
corporations
Time deposits of individuals, partnerships, and corporations
Postal savings deposits
Deposits of U.S. Government
Deposits of States and political subdivisions
Deposits of banks
Other deposits (certified and cashiers' checks, etc.)
Total deposits
Demand deposits
Time deposits
Bills payable, rediscounts, and other liabilities for
borrowed money _
Mortgages or other liens on bank premises and other
real estate
Acceptances executed by or for account of reporting
banks and outstanding
Other liabilities
Total liabilities
662,586
14
18, Oil
130,815
24, 772
32,975
1,670,185
977,706
692,479
661,950
14
29,471
110,803
25,481
32,594
1,650,794
962,567
688,227
683,567
14
30,769
105,022
27,068
38,603
1,666,546
948,751
717,795
691,558
14
24,989
194,169
32,767
44,845
1,745,907
980,766
765,141
29,600
28,750
20,000
202
130
127
125
585
41,789
1,594
43,477
2,640
42,121
1,448
39,138
1,742,361
1,724,745
1,731,434
1,786,618
44,090
55,125
47,423
44,090
55,125
49,904
44,015
55,035
52,641
46,015
57,130
50,719
CAPITAL ACCOUNTS
Capital stock: Common stock
Surplus
Undivided profits
Reserves _
Total capital accounts
Total liabilities and capital accounts
146,638
149,119
151,691
153,864
1,888,999
1,873,864
1,883,125
1,940,482
450,538
418,610
429,710
406,739
MEMORANDUM
Assets pledged or assigned to secure liabilities and for
other purposes
-
REPORT OF THE COMPTROLLER OF THE CURRENCY
179
Assets and liabilities of national banks, by States, at date of each call during year
ended Dec. SI, 1960—Continued
PENNSYLVANIA
[In thousands of dollars]
Mar. 15,
1960
June 15,
1960
Oct. 3,
1960
Dec. 31,
1960
472 banks
471 banks
468 banks
462 banks
4,499,567
2,059,364
319
788,542
131,454
4,534,077
2,160,929
340
788,965
133,361
4,592,692
2,230,163
294
805,555
129,856
4,554,248
2,331,308
295
826,307
134,767
24,385
767,647
146,615
25,322
804,165
150,228
26,274
751,749
136,042
26,611
699,412
153,981
712,309
114,496
2,574
712,290
117,624
2,338
692,123
119,473
2,710
778,747
120,437
3,123
3,755
10, 752
31,373
4,087
13,309
33,006
4,062
11,656
39,934
3,856
13,878
34,230
9,293,152
9,480,041
9,542,583
9,681,200
ASSETS
Loans and discounts (including overdrafts)
—
U.S. Government securities, direct obligations
Obligations guaranteed by U.S. Government
—
Obligations of States and political subdivisions
Other bonds, notes, and debentures.
—
Corporate stocks, including stock of Federal Reserve
bank
Reserve with Federal Reserve bank...
Currency and coin
—
Balances with other banks, and cash items in process of
collection
—
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 outstanding
Other assets
Total assets.
LIABILITIES
Demand deposits of individuals, partnerships, and
corporations
---Time deposits of individuals, partnerships, and corporations
Postal savings deposits
Deposits of U.S. Government
Deposits of States and political subdivisions
Deposits of banks
Other deposits (certified and cashiers' checks, etc.)
Total deposits..
Demand deposits
Time deposits
Bills payable, rediscounts, and other liabilities for
borrowed money
—
Mortgages or other liens on bank premises and other
real estate
Acceptances executed by or for account of reporting
banks and outstanding
Other liabilities
Total liabilities
4,125,257
4,079,796
3,915,632
4,173,173
3,042,785
599
191,009
306,211
430,920
56, 716
8,158,497
5,084,585
8,118,912
3,113,529
599
285,076
319,695
435,011
56,751
8,290,457
5,089,998
8,200,464
3,215,238
595
310,932
419,839
428,949
60,647
8,851,882
5,082,588
8,819,294
3,206,313
597
228,519
344,934
464,806
52,947
8,471,289
5,166,296
8,804,998
24,135
31,660
9,665
40,595
136
157
154
152
11,116
139,920
13,762
166,268
12,162
171,083
14,443
167,865
8,328,804
8,502,304
8,544,896
8,694,344
50
249,483
249,588
550,852
153,445
10,518
50
250,519
250,569
552,483
165,910
8,775
50
251,324
251,874
555,634
179,818
10,861
50
250,954
251,004
558,420
166,574
10,858
CAPITAL ACCOUNTS
Capital stock:
Preferred stock
Common stock
Total capital stockSurplus
Undivided profits
Reserves and retirement account for preferred stock...
Total capital accounts
964,348
977,737
997,687
986,856
9,293,152
9,480,041
9,542, 583
9,681,200
Assets pledged or assigned to secure liabilities and for
other purposes 1,000,042
1,098,231
1,212,395
1,126,970
Total liabilities and capital accounts
MEMORANDUM
180
REPORT OF THE COMPTROLLER OF THE CURRENCY
Assets and liabilities of national banks, by States, at date of each call during year
ended Dec. 31, 1960—Continued
RHODE ISLAND
[In thousands of dollars]
Mar. 15,
1960
June 15,
1960
Oct. 3,
1960
Dec. 31,
1960
4 banks
4 banks
4 banks
4 banks
ASSETS
Loans and discounts (including overdrafts)
U.S. Government securities, direct obligations
Obligations guaranteed by U.S. Government
Obligations of States and political subdivisions
Other bonds, notes, and debentures
Corporate stocks, including stock of Federal Reserve
bank
Reserve with Federal Reserve bank
Currency and coin. _
Balances with other banks, and cash items in process of
collection
Bank premises owned, furniture and fixtures
Real estate owned other than bank premises
Customers' liability on acceptances outstanding
Other assets
Total assets
286,264
122,239
12
45,912
1,832
303,309
115,888
12
55,543
1,757
308,119
113,538
12
62,307
1,568
315,465
110,623
9
70,213
1,970
1,298
37,918
9,169
1,298
31, 705
10,253
1,299
47,541
8,645
1,281
23,196
9,092
26,326
7,938
74
2,229
1,604
24,338
7,935
126
470
2,277
27,419
7,988
140
3,404
2,449
27,351
7,969
232
1,565
2,922
542,815
554,911
584,429
571,888
202,829
243, 559
24
7,451
19,839
5,151
2,784
481,687
287,818
244,324
201,144
244,950
24
12,424
22,051
4,872
3,243
488,708
242,927
245,781
200,419
254,030
24
12,283
26,038
4,918
4,143
501,855
247,008
254,852
192,822
269,467
24
10,389
26,202
3,729
5,659
508,292
288,217
270,075
LIABILITIES
Demand deposits of individuals, partnerships, and
corporations
Time deposits of individuals, partnerships, and corporations
Postal savings deposits
Deposits of U.S. Government
Deposits of States and political subdivisions
Deposits of banks.
Other deposits (certified and cashiers' checks, etc.)
Total deposits
Demand deposits
Time deposits
Bills payable, rediscounts, and other liabilities for
borrowed money
Acceptances executed by or for account of reporting
banks and outstanding
Other liabilities
Total liabilities
7,500
18,000
2,231
14,291
471
12,904
3,406
15,199
1,565
16,090
498,159
509,583
538,460
525,947
13,490
25,456
5,700
10
13,490
25,456
6,372
10
13,490
25,475
6,989
15
13,490
25,540
6,896
15
CAPITAL ACCOUNTS
Capital stock: Common stock
Surplus
Undivided profits
Reserves
Total capital accounts
Total liabilities and capital accounts
44,656
45,328
45,969
45,941
542,815
554,911
584,429
571,888
30,129
28,097
29,259
27,477
MEMORANDUM
Assets pledged or assigned to secure liabilities and for
other purposes
-
REPORT OF THE COMPTROLLER OF THE CtTRREHCY
181
Assets and liabilities of national banks, by States, at date of each call during year
ended Dec. 81, 1960—Continued
SOUTH CAROLINA
[In thousands of dollars]
Mar. 15,
1960
June 15,
1960
Oct. 3,
1960
Dec. 31,
1960
25 banks
25 banks
25 banks
25 banks
ASSETS
Loans and discounts (including overdrafts)
U.S. Government securities, direct obligations
Obligations guaranteed by U.S. Government
Obligations of States and political subdivisions
Other bonds, notes, and debentures
Corporate stocks, including stock of Federal Reserve
Reserve with Federal Reserve bank
—
Currency and coin. _
Balances with other banks, and cash items in process of
collection
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 outstanding
Other assets
Total assets
297,791
169,188
289,747
163,365
298,285
171,036
298,205
196,134
40,882
7,787
41,513
5,896
44,773
7,163
43,886
8,931
1,242
43,902
15,169
1,252
48,266
15,958
1,262
46,792
15,126
1,301
41,519
15,088
74,975
9,876
470
83,638
10,312
355
87,761
10,619
325
93,066
11,128
798
89
89
160
2,834
2,742
3,540
160
6
1,908
664,205
663,133
686,842
712,130
388,602
387,480
396,159
399,415
90,362
91,511
95,252
90,442
17,963
68,480
15,507
6,351
587,265
482,593
104,672
21,580
67,239
14,722
5,040
587,572
482,826
104,746
23,314
66,445
18,638
4,989
604,797
496,538
108,259
23,282
89,724
24,811
5,850
633,524
629,083
104,441
LIABILITIES
Demand deposits of individuals, partnerships, and
corporations
Time deposits of individuals, partnerships, and corporations
Postal savings deposits
- Deposits of U.S. Government
Deposits of States and political subdivisions
Deposits of banks.
.
Other deposits (certified and cashiers' checks, etc.)
Total deposits
--Demand deposits
Time deposits..*
Bills payable, rediscounts, and other liabilities for
borrowed money
Acceptances executed by or for account of reporting
banks and outstanding
Other liabilities
Total liabilities
7,000
3,100
3,000
19,264
20,602
25,897
6
25,213
613,529
611,274
633,694
658,743
13,550
28,105
8,122
899
13,625
28,155
9,117
962
13,625
28,410
10,099
1,014
13,875
29,762
8,433
1,317
CAPITAL ACCOUNTS
Capital stock: Common stock
Surplus
Undivided profits. Reserves
Total capital accounts
Total liabilities and capital accounts
50,676
51,859
53,148
53,387
664,205
663,133
686,842
712,130
107,973
109,207
108,779
110,897
MEMORANDUM
Assets pledged or assigned to secure liabilities and for
other purposes
...
182
REPORT OF THE COMPTROLLER OF THE CURRENCY
Assets and liabilities of national banks, by States, at date of each call during year
ended Dec. 31, 1960—Continued
SOUTH DAKOTA
[In thousands of dollars]
Mar. 15,
1960
June 15,
1960
Oct. 3,
1960
Dec. 31,
1960
33 banks
33 banks
33 banks
33 banks
ASSETS
Loans and discounts (including overdrafts)
U.S. Government securities, direct obligations
Obligations guaranteed by U.S. Government
Obligations of States and political subdivisions
Other bonds, notes, and debentures
Corporate stocks, including stock of Federal Reserve
bank
Reserve with Federal Reserve bank
Currency and coin _
Balances with other banks, and cash items in process of
collection
.
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 outstanding
Other assets
Total assets
.
184,387
112,178
199,015
103,130
199,738
105,933
198,332
113,212
22.706
6,865
22,130
5,654
22,307
6,436
21,935
8,048
803
28,540
3,976
846
33,345
4,444
869
31,707
4,005
807
30,894
4,932
24,681
6,118
231
26,445
6,223
155
33,364
6,547
226
38,014
6,571
229
400
3
1.563
406
436
565
2,065
2,194
2,357
392,451
403,858
413, 762
425,896
180,741
176,211
193,522
200,670
118,214
118,082
120, 596
123,853
8,184
37, 787
8,982
2,932
856,840
280,848
126,497
10,083
47,413
8,297
2,945
368,031
286,757
126,274
7,511
38,412
11,026
3,445
874,512
245,271
129,241
8,341
41,774
12, 732
3,516
890,886
258.166
182,720
3,500
7,700
4,500
LIABILITIES
Demand deposits of individuals, partnerships, and
corporations
Time deposits of individuals, partnerships, and corporations
Postal savings deposits
Deposits of U.S. Government
Deposits of States and political subdivisions
Deposits of banks
Other deposits (certified and cashiers' checks, etc.)
Total deposits
Demand deposits
Time deposits.—
Bills payable, rediscounts, and other liabilities for
borrowed money
Mortgages or other liens on bank premises and other
real estate.
Acceptances executed by or for account of reporting
banks and outstanding
Other liabilities
Total liabilities
50
50
3
5,306
5, 578
6,052
6,444
365,649
376,309
385,114
397,380
7,585
13,240
5,520
457
7,835
13,106
6,170
438
7,885
13,331
7,036
396
8,135
13,479
6,455
447
26,802
27, 549
28,648
28,516
392,451
403,858
413,762
425,896
69,393
72,588
70,093
70,435
CAPITAL ACCOUNTS
Capital stock: Common stock
Surplus
Undivided profits
Reserves
Total capital accounts
Total liabilities and capital accounts
MEMORANDUM
Assets pledged or assigned to secure liabilities and for
other purposes
REPORT
OF
THE
COMPTROLLER
OF
THE
CURRENCY
1 8 3
Assets and liabilities of national banks, by States, at date of each call during year
ended Dec. 31, 1960—Continued
TENNESSEE
[In thousands of dollars]
Mar. 15,
1960
June 15,
1960
Oct. 3,
1960
Dec. 31,
1960
75 banks
75 banks
75 banks
75 banks
1,057,440
501,603
74
143,110
18,390
1,089,397
488,005
74
142,428
17,676
1,122,243
499,933
62
147,342
18, 742
1,174,125
546,578
62
145,594
22,064
4,647
193,262
36,773
4,689
174,845
39,249
4,703
182,806
36,427
4,713
177,632
43,458
307,503
24,281
1,045
662
5, 757
309,433
25,622
1,448
279
5,324
314,508
26,179
1,502
4,334
7,009
395,322
26,209
1,595
11,199
5,676
2,294,547
2,298,469
2,365, 790
2,554,227
976,595
964,700
951, 509
1,022,335
592,319
161
36,564
157,092
308,137
10,456
600,064
161
51,168
169,915
285,168
10,416
615,200
161
55,019
186,866
321,063
9,303
629,125
163
53,254
176,441
422,526
11,541
7,250
2,100
345
7,500
34
34
662
28,011
279
32,276
4,334
11,199
34,523
2,117,281
2,116,281
2,180, 772
2,368,692
54,430
91,135
28,142
3,559
54,505
91,220
32,983
3,480
54, 505
91,927
34,663
3,923
54,505
93,734
33,123
4,173
ASSETS
Loans and discounts (including overdrafts)
U.S. Government securities, direct obligations
Obligations guaranteed by U.S. Government
Obligations of States and political subdivisions
Other bonds, notes, and debentures
Corporate stocks, including stock of Federal Reserve
bank
—
Reserve with Federal Reserve bank
Currency and coin.
Balances with other banks, and cash items in process of
collection
Bank premises owned, furniture and fixtures
Real estate owned other than bank premises.
Customers' liability on acceptances outstanding
Other assets
—
Total assets
LIABILITIES
Demand deposits of individuals, partnerships, and
corporations
Time deposits of individuals, partnerships, and corporations
—Postal savings deposits
Deposits of U.S. Government-...
Deposits of States and political subdivisions
Deposits of banks
Other deposits (certified and cashiers' checks, etc.)
Total deposits
Demand deposits
Time deposits
Bills payable, rediscounts, and other liabilities for
borrowed money
Mortgages or other liens on bank premises and other
real estate
Acceptances executed by or for account of reporting
banks and outstanding
Other liabilities.
—
Total liabilities
8,081,824 2,081,592 2,189,121 2,815,885
1,469,614 1,448,478 1,474,880 1, 649, 886
611,710 688,114 664,841
665,549
85
CAPITAL ACCOUNTS
Capital stock: Common stock
Surplus
Undivided profits
Reserves
-
Total capital accounts
Total liabilities and capital accounts
177,266
182,188
185,018
185,535
2,294,547
2,298,469
2,365,790
2,554,227
270,525
275,574
277,472
MEMORANDUM
Assets pledged or assigned to secure liabilities and for
other purposes -
1 8 4
REPORT
OF
THE
COMPTROLLER
OF
THE
C U R R E N C Y 184
Assets and liabilities of national banks, by States, at date of each call during year
ended Dec. 31, 1960—Continued
TEXAS
[In thousands of dollars]
Loans and discounts (including overdrafts)
U.S. Government securities, direct obligations
Obligations guaranteed by U.S. Government
Obligations of States and political subdivisions
Other bonds, notes, and debentures
Corporate stocks, including stock of Federal Reserve
bank
Reserve with Federal Reserve bank
Currency and coin
—
Balances with other banks, and cash items in process of
collection
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 outstanding
Other assets
Total assets
Mar. 15,
1960
June 15,
1960
Oct. 3,
1960
Dec. 31,
1960
468 banks
469 banks
468 banks
468 banks
4,013,774
2,014,939
49,076
571,870
112,686
4,132,884
1,950,971
66,033
547,711
92,361
4,210,054
1,958,500
86,695
570,357
80,063
4,394,312
2,137,545
90,711
591,301
102,089
20,012
809,982
104,236
20.199
787,585
108,355
20,307
854,407
101,059
20,557
831,625
110,746
1,441,511
175,196
9,714
1,461,754
178,540
11,714
1,420,036
180,824
11,816
1,956.218
182,002
9,793
8,908
51,602
27,947
9,993
19,890
28,230
11,320
23,729
30,830
10,297
52,843
30,651
9,411,453
9,416,220
9,559,997
10,520,690
4,834,087
4,776,029
4,796,729
5,193,186
1,437,529
1,080
158,150
774,453
1,054,654
81,021
1,463,926
1,080
208,702
706,837
1,084, 572
70,090
1.597,889
1,080
217.900
695,999
1,134,572
63,533
1,684,801
1,080
183,819
859,469
1.507,393
130,920
152,254
181,657
111, 817
483
166
165
164
156
54,120
66,265
22,591
85,217
23,863
84,552
54,292
73,553
8,613,779
8,600,866
8,728,098
9,689,152
302,991
356,998
114,762
22,923
304,176
358,437
130,841
21,900
304,891
361,346
140,966
24,696
307,030
368,069
126,470
29,969
LIABILITIES
Demand deposits of individuals, partnerships, and
corporations
—
Time deposits of individuals, partnerships, and corporations
Postal savings deposits
Deposits of U.S. Government
Deposits of States and political subdivisions
Deposits of banks
Other deposits (certified and cashiers' checks, etc.)
Total deposits
Demand deposits
Time deposits
Bills payable, rediscounts, and other liabilities for
borrowed money
Mortgages or other liens on bank premises and other
real estate
Acceptances executed by or for account of reporting
banks and outstanding
Other liabilities
Total liabilities
8,8^0,974 8,811,286 8,507,702 9,560,668
6,526,678 6,496,907 6,546,222 7,458,808
1,814,801 1,814,829 1,961,480 2,106,860
CAPITAL ACCOUNTS
Capital stock: Common stock
Surplus
Undivided profits
Reserves
Total capital accounts
Total liabilities and capital accounts
797.674
815,354
831,899
831,538
1,411,453
9,416,220
9,559,997
10,520,690
1,491,833
1,517,436
1,504,994
MEMORANDUM
Assets pledged or assigned to secure liabilities and for
other purposes -
1,447,9
REPORT
OF
THE
COMPTROLLER
OF
THE
CURRENCY
185
Assets and liabilities of national banks, by States, at date of each call during year
ended Dec. 31, 1960—Continued
UTAH
[In thousands of dollars]
Loans and discounts (including overdrafts)
U.S. Government securities, direct obligations
Obligations guaranteed by U.S. Government
Obligations of States and political subdivisions
Other bonds, notes, and debentures
Corporate stocks, including stock of Federal Reserve
bank
Reserve with Federal Reserve bank
Currency and coin
Balances with other banks, and cash items in process of
collection
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 assets
Tota assets.
Mar. 15,
1960
June 15,
1960
Oct. 3,
1960
Dec. 31,
1960
7 banks
7 banks
7 banks
7 banks
257,114
84,294
267,808
83,508
265,562
83,615
35,890
3.417
33,663
3,307
35,724
3,254
273,897
94,811
25
33,163
2,795
46,978
4,666
944
48,285
5,156
978
41,898
4,688
982
49,926
5,192
32,708
1,458
23
33,434
1,490
43
37,152
1,519
40
48.776
1,487
29
6,100
482
6,100
576
6,100
514
6.200
493
474,024
484,314
481,044
517,776
190,196
195,706
195,451
203,616
164,559
489
5,492
44,230
13,433
3,384
166,282
489
9,994
41,505
15,447
3,986
170,405
489
10,506
34,939
14,239
4,902
180,
181,709
480,981
248,219
187,712
173,261
489
9,496
55,588
20,973
5,253
9,000
6,983
5,338
8,745
4,480
9,187
10,257
437.766
447,492
444, 598
478,933
10.075
17,660
7,963
560
10,075
18. 670
7,517
560
10,075
19,680
6,131
560
10,075
19,815
6,773
2,180
LIABILITIES
Demand deposits of individuals, partnerships, and
corporations
Time deposits of individuals, partnerships, and corporations
Postal savings deposits
Deposits of U.S. Government
Deposits of States and political subdivisions
—
Deposits of banks
Other deposits (certified and cashiers' checks, etc.)
Total deposits
Demand deposits
Time deposits
Bills payable, rediscounts, and other liabilities for
borrowed money
Other liabilities
Total liabilities
421, 783 483,409
HI, m
251,700
m
468,676
278,024
190,652
CAPITAL ACCOUNTS
Capital stock: Common stock..
Surplus
Undivided profits
Reserves .
Total capital accounts
Total liabilities and capital accounts
36,258
36,822
36,446
38,843
474,024
484,314
481,044
517,776
28,624
28,277
29,569
27,570
MEMORANDUM
Assets pledged or assigned to secure liabilities and for
other purposes
1 8 6
REPORT
OF
THE
COMPTROLLER
OF
THE
C U R R E N C Y 186
Assets and liabilities of national banks, by States, at date of each call during year
ended Dec. 31, I960—Continued
VERMONT
[In thousands of dollars]
Loans and discounts (including overdrafts)
U.S. Government securities, direct obligations
Obligations guaranteed by U.S. Government
Obligations of States and political subdivisions
Other bonds, notes, and debentures
Corporate stocks, including stock of Federal Reserve
bank..
Reserve with Federal Reserve bank
Currency and coin
Balances with other banks, and cash items in process of
collection
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 assets
Total assets
Mar. 15,
1960
June 15,
1960
Oct. 3,
1960
Dec. 31,
1960
32 banks
32 banks
31 banks
31 banks
120,235
53,899
2
13,690
2,945
124,380
50,019
10
14,689
2,914
119,277
51,277
8
13,975
2,937
119,830
53,210
8
11,730
2,949
443
13,559
3,565
443
15,170
3,823
421
12,899
3, £73
429
11,744
3,674
12,780
3,045
102
14,367
3,215
109
18,030
2,854
45
14,909
2,914
57
770
497
752
551
^78
741
816
225,532
230,442
226,815
222,878
LIABILITIES
Demand deposits of individuals, partnerships, and
corporations
Time deposits of individuals, partnerships, and corporations
Postal savings deposits
Deposits of U.S. Government
Deposits of States and political subdivisions
Deposits of banks
Other deposits (certified and cashiers' checks, etc.)
Total deposits
Demand deposits
Time deposits
Bills payable, rediscounts, and other liabilities for
borrowed money
—
Other liabilities
Total liabilities..
63,830
68,714
68,691
63,747
122,512
3
4,472
5,668
1,403
1,053
122,590
3
4,113
4,264
1,339
1,307
119,737
3
3,262
8,114
1,091
1,540
202,488
81,860
119,636
3
3,337
9,017
1,268
1,098
198,106
76,870
198,941
75,6S6
128,405
202,830
79,110
123,220
1,226
4,879
2,010
4,957
" ' 75
3,984
4,757
205,046
209,297
206,497
202,863
800
5,900
800
6,175
7,377
4,795
1,446
7,557
4,172
1,311
121,078
121,286
CAPITAL ACCOUNTS
Capital stock:
Preferred stock
Common stock
800
6,150
Surplus
——
Undivided profits
Reserves and retirement account for preferred stock...
7,805
4,457
1,274
Total capital stock_
Total capital accounts—
Total liabilities and capital accounts
6,950
800
6,150
6,950
7,855
5,058
1,282
6,700
6,975
20,486
21,145
20,318
20,015
225,532
230,442
226,815
222,878
11,799
12,316
MEMORANDUM
Assets pledged or assigned to secure liabilities and for
other purposes -
10,158
REPORT
OF
THE
COMPTROLLER
OF
THE
CURRENCY
187
Assets and liabilities of national banks, by States, at date of each call during year
ended Dec. 31, 1960—Continued
VIRGINIA
[In thousands of dollars]
Mar. 15,
1960
June 15,
1960
Oct. 3,
1960
Dec. 31,
1960
129 banks
129 banks
130 banks
129 banks
928,792
471,794
110
121,502
34,002
988,149
446,507
150
120,699
30,596
994,105
469,628
50
122,213
24,942
981,011
502,577
100
126,276
37,968
4,170
149,987
33,865
4,218
133,192
36,433
4,290
147,926
33,608
4,454
135,259
37,608
169,996
26,081
1,014
183,927
27,093
744
194,303
27,899
790
226,998
28,602
718
1,711
210
4,398
1,711
233
5,067
1,703
159
5,185
1,715
226
5,963
1,947,632
1,978,719
2,026,801
2,089,475
842,692
853,893
863,367
858,734
623,356
107
59,590
108,462
86,924
10,516
627,887
109
66,438
119,845
86,209
11,385
651,378
107
64,823
96,843
114,946
8,398
655,471
107
66,414
126,432
142,015
18,711
17,568
7,323
4,825
1,650
115
110
130
206
210
28,508
233
31,132
159
41,597
226
39,919
1,778,048
1,804,564
1,846,573
1,909,885
47,001
86,151
33,020
3,412
47,620
87,234
36,066
3,235
49,245
88,055
39,251
3,677
49,635
92,988
32,778
4,189
ASSETS
Loans and discounts (including overdrafts)
—
U.S. Government securities, direct obligations
—
Obligations guaranteed by U.S. Government
Obligations of States and political subdivisions
Other bonds, notes, and debentures
Corporate stocks, including stock of Federal Reserve
bank
Reserve with Federal Reserve bank
Currency and coin
Balances with other banks, and cash items in process of
collection
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 outstanding
Other assets
Total assets
LIABILITIES
Demand deposits of individuals, partnerships, and
corporations
Time deposits of individuals, partnerships, and corporations
Postal savings deposits
wDeposits of U.S. Government
Deposits of States and political subdivisions
Deposits of banks.
Other deposits (certified and cashiers' checks, etc.)
Total deposits
Demand deposits
Time deposits
Bills payable, rediscounts, and other liabilities for
borrowed money___
Mortgages or other liens on bank premises and other
real estate
Acceptances executed by or for account of reporting
banks and outstanding
Other liabilities
Total liabilities
1,781,64.7 1,765,766 1,799,862
1,055,781 1,086,908 1,114,577
675,866
678,858
685,285
1,867,884
1,172,580
695,804
CAPITAL ACCOUNTS
Capital stock: Common stock
Surplus
Undivided profits
Reserves
Total capital accounts
Total liabilities and capital accounts
169,584
174,155
180,228
179,590
1,947,632
1,978,719
2,026,801
2,089,475
306,970
296,232
301,426
308,774
MEMORANDUM
Assets pledged or assigned to secure liabilities and for
other purposes -
REPORT
Assets
OF
and liabilities
THE
COMPTROLLER
OF
THE
C U R R E N C Y 188
of national banks, by States, at date of each call during
ended Dec. 31,
1960—Continued
year
VIRGIN ISLANDS OF T H E U N I T E D S T A T E S
[In thousands of dollars]
Mar. 15,
1960
June 15,
1960
Oct. 3,
1960
Dec. 31,
1960
1 bank
1 bank
1 bank
1 bank
ASSETS
Loans and discounts (including overdrafts)
U.S. Government securities, direct obligations
6,418
6,284
6,538
5,789
7,930
5,386
7,895
5,872
Obliiations of States and political subdivisions.
...
Other bonds, notes, and debentures
Corporate stocks, including stock of Federal Reserve
bank
Reserve with Federal Reserve bank
Currency and coin
Balances with other banks, and cash items in process of
collection
Bank premises owned, furniture and fixtures
Real estate owned other than bank premises
Other assets
1,519
2
1,653
2
1,620
3,008
15
1,191
478
15
986
444
30
759
465
30
1,366
568
2,391
47
41
142
2,537
47
41
97
2,908
45
41
47
1,951
38
147
157
18,528
18,099
19,231
21,032
4,194
4,153
3,575
3,971
6,483
6,834
6,992
7,035
168
6,432
192
62
174
5,597
223
65
175
6,791
91
52
151
7,969
94
142
Total assets
LIABILITIES
Demand deposits of individuals, partnerships, and
corporations
..
Time deposits of individuals, partnerships, and corporations
Postal savings deposits
__ _
Deposits of U.S. Government
Deposits of States and political subdivisions...
Deposits of banks
Other deposits (certified and cashiers' checks, etc.)
Total deposits
Demand deposits
Time deposits
17,581
8,188
9,898
165
199
210
221
Total liabilities....
17,696
17,245
17,886
19,583
250
250
193
139
250
250
215
139
335
675
204
131
335
675
439
832
854
1,345
1,449
18,528
18,099
19,231
21,032
7,111
6,614
7,011
8,893
Bills payable, rediscounts, and other liabilities for
borrowed money
Other liabilities
17,00
7,282
9,764
17,676
5,871
11,805
19,862
6,989
12,878
CAPITAL ACCOUNTS
Capital stock: Common stock
Surplus
Undivided profits
Reserves
-
Total capital accounts
Total liabilities and capital accounts
MEMORANDUM
Assets pledged or assigned to secure liabilities and for
other purposes
REPORT
OF
THE
COMPTROLLER
OF
THE
CURRENCY
189
Assets and liabilities of national banks, by States, at date of each call during year
ended Dec. 81, 1960—Continued
WASHINGTON
[In thousands'of dollars]
Loans and discounts (including overdrafts)
U.S. Government securities, direct obligations
Obligations guaranteed by U.S. Government
Obligations of States and political subdivisions
Other bonds, notes, and debentures
Corporate stocks, including stock of Federal Reserve
bank
Reserve with Federal Reserve bank
—
Currency and coin
Balances with other banks, and cash items in process of
collection
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 outstanding
Other assets
Total
Mar. 15,
1960
June 15,
1960
Oct. 3,
1960
25 banks
25 banks
25 banks
1,275,790
539,271
1,322,185
513,723
1,367,257
510,834
173,271
14,551
167,917
12,648
167,233
12,746
4,456
265,505
30,137
4,460
264,673
31,024
4,520
212,059
27,759
239,292
38,955
1,289
258,764
39,771
1,364
267,398
40,311
1,124
490
3,110
13,191
492
2,312
14,291
490
1,801
13,080
2,599,308
2,633,624
2,626,612
1,272,307
1,263,767
1,267,307
755,831
9
50,800
177,136
66,947
23,247
757,284
9
76,311
187,872
72,421
23,464
2,881,128
770,330
9
68,548
168,122
76,395
19,397
LIABILITIES
Demand deposits of individuals, partnerships, and
corporations
Time deposits of individuals, partnerships, and corporations
Postal savings deposits
Deposits of U.S. Government...
Deposits of States and political subdivisions
—
Deposits of banks
Other deposits (certified and cashiers' checks, etc.)
Total deposits
Demand deposits
Time deposits
-
Bills payable, rediscounts, and other liabilities for
borrowed money
Mortgages or other liens on bank premises and other
real estate
Acceptances executed by or for account of reporting
banks and outstanding
Other liabilities
—
Total liabilities
2,864,277
1,578,825
767,952
1,610,902
770,226
2,870,108
1,588,746
19,700
4,700
48
92
51
3,139
39,375
2,442
49,769
1,801
47,773
2,408, 539
2,438,131
2,427,733
62,800
85,825
40,722
1,422
62,800
85,875
45,351
1,467
62,800
87,875
46,656
1,548
8,000
CAPITAL ACCOUNTS
Capital stock: Common stock..
Surplus
Undivided profits
Reserves
Total capital accounts
Total liabilities and capital accounts.
190,769
195,493
198,879
2,599,308
2,633,624
i, 612
410,230
441, 716
424,754
MEMORANDUM
Assets pledged or assigned to secure liabilities and for
other purposes
;59802i6—61
13
190
REPORT
OF
THE
COMPTROLLER
OF
THE
C U R R E N C Y 190
Assets and liabilities of national banks, by States, at date of each call during year
ended Dec. 31, 1960—Continued
WEST VIRGINIA
[In thousands of dollars]
Loans and discounts (including overdrafts)
- —
U.S. Government securities, direct obligations
Obligations guaranteed by U.S. Government
Obligations of States and political subdivisions
Other bonds, notes, and debentures
Corporate stocks, including stock of Federal Reserve
bank
Reserve with Federal Reserve bank
Currency and coin
Balances with other banks, and cash items in process of
collection
Bank premises owned, furniture and fixtures
Heal estate owned other than bank premises
Investments and other assets indirectly representing
bank premises or other real estate
Other assets
Total assets.
Mar. 15,
1960
June 15,
1960
Oct. 3,
1960
Dec. 31,
1960
77 banks
77 banks
77 banks
77 banks
259,669
261,989
277,142
259,344
280,885
254,473
281,997
265,910
40,052
8,642
39,932
8,526
40,109
6,972
40,598
7,437
1,589
57,845
16,763
1,591
55,123
18,057
1,597
52,145
14,668
1,638
45,098
17,902
65,608
8,758
267
64,700
9,019
68,961
9,255
355
86,119
9,086
348
417
1,351
417
1,447
477
1,364
477
1,590
722,950
735,619
731,261
758,200
329,965
335,435
327,862
330,597
216,007
148
15,572
47,740
26,563
3,567
218,819
148
21,104
48,040
25,872
4,014
224,829
148
15,265
50,876
25,132
2,884
226,797
148
16,686
56,149
38,219
3,783
LIABILITIES
Demand deposits of individuals, partnerships, and
corporations
Time deposits of individuals, partnerships, and corporations
Postal savings deposits.
Deposits of U.
Deposits of States and political subdivisions
Deposits of banks
Other deposits (certified and cashiers' checks, etc.)
Total deposits
Demand deposits
Time deposits
Bills payable, rediscounts, and other liabilities for
borrowed money
Other liabilities
Total liabilities
689,662
422,896
217,166
658,482
488,407
220,025
4,768
8,247
2,043
8,267
2,521
8,273
12,902
652,577
663,742
657,790
685,577
17,946
34,925
14,970
2,532
17,971
35.100
16.101
2,705
17,971
35,305
17,442
2,753
18,071
37,380
14,129
3,043
646,996
420,946
226,060
672,879
448,869
228,610
CAPITAL ACCOUNTS
Capital stock: Common stock..
Surplus
Undivided profits
Reserves
Total capital accounts
Total liabilities and capital accounts .
70,373
71,877
73,471
72,623
722,950
735,619
731,261
758,200
127,472
127,302
124,669
120,460
MEMORANDUM
Assets pledged or assigned to secure liabilities and for
other purposes
REPORT
OF
THE
COMPTROLLER
OF
THE
CURRENCY
1 9 1
Assets and liabilities of national banks, by States, at date of each call during year
ended Dec. 81, 1960—Continued
WISCONSIN
[In thousands of dollars]
Loans and discounts (including overdrafts)
U.S. Government securities, direct obligations
Obligations guaranteed by U.S. Government
Obligations of States and political subdivisions
Other bonds, notes, and debentures
Corporate stocks, including stock of Federal Reserve
bank
Reserve with Federal Reserve bank
Currency and coin
Balances with other banks, and cash items in process of
collection
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 outstanding
Other assets...
Total assets..
Mar. 15,
1960
June 15,
1960
Oct. 3,
1960
Dec. 31,
1960
98 banks
98 banks
99 banks
99 banks
882,404
610,952
893,401
609,575
917,822
621,992
961,101
627,664
123,811
33,455
126,762
29,691
127,153
25,788
127,845
26,234
3, 558
193,541
25,897
3,576
179,331
28,769
3,635
164,110
24,500
3,670
155,624
27,204
244,618
19,979
1,807
249,088
21,038
1,702
219,440
21,811
1,621
302,747
20,168
1,537
482
158
8,318
326
8,085
734
308
10,864
978
409
8,614
2,148,980
2,152,027
2,139,778
2,263,795
919,940
932,619
910,019
1,020,410
678,367
858
54,625
111, 485
160,240
9,369
686,917
858
78,502
77,954
156,315
9,340
709,896
857
70,541
82,483
150,560
10,123
719,478
857
67,007
84,766
161,386
12,667
686,841
696,228
728,265
23,579
2,950
93
118
LIABILITIES
Demand deposits of individuals, partnerships, and
corporations
Time deposits of individuals, partnerships, and corporations
Postal savings deposits
Deposits of U.S. Government
Deposits of States and political subdivisions
Deposits of banks
Other deposits (certified and cashiers' checks, etc.)
Total deposits
Demand deposits
Time deposits
Bills payable, rediscounts, and other liabilities for
borrowed money
Mortgages or other liens on bank premises and other
real estate
..
_
Acceptances executed by or for account of reporting
banks and outstanding
Other liabilities
Total liabilities..
1,984,884 1,942,505 1,984,479
1,248,048 1,246,282 1,206,214
37,656
2,066,571
1,880,424
786,147
953
134
409
158
29,215
326
36,084
46,546
2,002,006
2,002,587
1,984,401
2,106,963
50
40,819
50
40,969
50
41,319
50
42,319
77.870
24,599
3,636
78,330
26,604
3,487
79,760
30,119
4,129
79,970
29,788
4,705
CAPITAL ACCOUNTS
Capital stock:
Preferred stock
Common stock
Total capital stock
Surplus.
Undiv
"
_ livided
profits
Reserves and retirement account for preferred stock...
Total capital accounts
Total liabilities and capital accounts
40.869
41,019
41,869
42,869
146,974
149,440
155,377
156,832
2,148,980
2,152,027
2,139,778
2,263,795
198,723
180,833
185,819
179,390
MEMORANDUM
Assets pledged or assigned to secure liabilities and for
other purposes -
192
REPORT
OF
THE
COMPTROLLER
OF
THE
C U R R E N C Y 192
Assets and liabilities of national banks, by States, at date of each call during
ended Dec. 81, 1960—Continued
WYOMING
[In thousands of dollars]
Loans and discounts (including overdrafts).
U.S. Government securities, direct obligations
Obligations guaranteed by U.S. Government.
Obligations of States and political subdivisions
Other bonds, notes, and debentures
Corporate stocks, including stock of Federal Reserve
bank
Reserve with Federal Reserve bank
Currency and coin
Balances with other banks, and cash items in process of
collection
Bank premises owned, furniture and fixtures
Real estate owned other than bank premises
Other assets
Total assets.
Mar. 15,
1960
June 15,
1960
Oct. 3,
1960
Dec. 31,
1960
26 banks
26 banks
26 banks
26 banks
120,846
95,403
128,871
90,400
129,654
87,523
128,876
98,428
15,743
4,627
16,952
3,831
16,269
3,932
16,414
3,588
516
22,125
4,495
522
19,660
4,756
535
22,271
4,477
24,089
4,735
28,753
3,861
133
1,301
29,219
4,055
80
1,584
34,499
4,125
582
2,076
45,062
3,965
578
2,100
297,803
299,930
305,943
328,374
137,945
134,672
138,781
143,712
80,035
18
6,096
30,394
10,013
2,077
80,323
18
7,613
34,888
10,845
2,207
83,479
18
7,644
29,040
14,710
2,577
86,597
18
7,514
41,541
17,511
2.514
LIABILITIES
Demand deposits of individuals, partnerships, and
corporationsTime deposits of individuals, partnerships, and corporations
Postal savings deposits
—
Deposits of U.S. Government.
Deposits of States and political subdivisions.
Deposits of banks
Other deposits (certified and cashiers' checks, etc.)
Total deposits
Demand deposits
Time deposits..
Bills payable, rediscounts, and other liabilities for
borrowed money.
Mortgages or other liens on bank premises and other
real estate
—
Other liabilities
Total liabilities—
276,249
299,407
266,678
178,908
87,675
270,566
182,457
4,035
1 480
750
35
3,907
28
4,130
28
4,231
28
4,235
274,555
276,204
281,258
303,670
4,528
11,722
6,196
802
4,528
11,772
6,836
590
4,528
11,847
7,441
4,528
12,172
6,782
1,222
184,884
91,915
208,784
95,628
CAPITAL ACCOUNTS
Capital stock: Common stock..
Surplus
Undivided profits.
Reserves
Total capital accounts.
Total liabilities and capital accounts
23,248
23,726
24,685
24,704
297,803
299,930
305,943
328,374
62,125
62,245
60,381
60,554
MEMORANDUM
Assets pledged or assigned to secure liabilities and for
other purposes
TABLE NO.
18.—Fiduciary activities of national banks as of Dec. 31, 1960
Banks with capital stock of—
$25,001 to
$50,000
$25,000
$50,001 to
$100,000
$100,001 to
$200,000
$200,001 to
$500,000
$500,001 and
over
Total
Number of national banks with trust powers but not administering trusts
Number of national banks with trust powers administering
trusts
6
29
65
63
58
10
231
4
23
144
336
423
577
1,507
Total number of national banks authorized to exercise
trust powers
10
52
209
399
481
587
11,738
$10,777,290
$96,533,910
$331,784, 502
$552,529,309
$880,015,734
$819,025,045
$2,690,665,790
9,087,235
73,781,710
876,714,014
2,939,095,535
6,944,215,381 106,701,026,506
117, 543,920,381
19,864,525
170,315,620
1.208,498, 516
3,491,624,844
7,824,231,115 107, 520,051,551
120,234, 586,171
81,789
37,972
30,938
2,158,908
75,973
273,403
117
44,097,034
2,505,984
4,770,813
3, 586, 530
238,083,708
9,422,024
22,915,750
34,617,019
1,018,999,774
24,140,358
71,987,601
85,944,013
43,241,142,789
861,286,446
1,359,637,188
26,191,174, 554
44, 544, 564,002
897,468,757
1,459,615,693
26,315,322,233
150,699
2,508,401
54,960,361
305,038, 501
1,201,071,746
71,653,240,977
73,216,970,685
150,642
2,467,234
42,940,239
222, 768,748
833,975,858
24,650,244,793
25,752,547,514
57
37,309
3,858
11,673,395
346,727
80,013,093
2,256,660
357,771,972
9,323,916
46, 716, 539,014
286,457,170
47,166,034,783
298,388,388
150,699
2,508,401
54,960,361
305,038, 501
1,201,071, 746
71,653,240,977
73, 216,970,685
45,000
338, 500
8,833,203
186,985,029
329,143,800
35,437,270,914
35,962,616,446
Total assets of national banks with trust powers but not
administering trusts
Total assets of national banks with trust powers administering trusts
Total assets of national banks authorized to exercise
trust powers
TRUST DEPARTMENT ASSETS
Investments
Time deposits.
Demand deposits
Other assets
-
Total
TRUST DEPARTMENT LIABILITIES
Trusts.
Other liabilities:
Agency, escrow, custodian and corporate accounts
Miscellaneous
Total
Total volume of bond issues outstanding for which banks are
acting as trustee
1
Includes 28 banks which have been granted only certain specific fiduciary powers.
CO
CO
CO
TABLE N O .
18.—Fiduciary activities oj national banks as of Dec. SI, 1960—Continued
H
Banks with capital stock of—
$25,000
$25,001 to
$50,000
$100,001 to
$200,000
$50,001 to
$100,000
o
$200,001 to
$500,000
$500,001 and
over
W
H
Total
o
TRUST DEPARTMENT LIABILITIES—CONTINUED
Number of national banks administering personal accounts:
Trusts
Agency, escrow and custodian accounts
Number of national banks administering corporate accounts:
Bond or debenture issues
Paying agencies
Depositories and other miscellaneous corporate accountsNumber of national banks acting as transfer agent
Number of national banks acting as registrar
Number of personal accounts being administered:
Trusts
Agency, escrow and custodian accounts
Total-
411
283
570
541
1,468
1,033
102
25
23
5
9
180
440
368
251
300
265
753
506
341
137
53
152
27
13
10
3
4
17
149
2,156
422
10,714
1,468
31,379
5,632
280,513
107,727
324,928
115,255
17
155
2,578
12,182
37,011
388,240
440,183
O
956
530
183
9,416
28,105
7,575
10,725
28,736
7,811
a
45,096
47,272
4,352
4,401
13
Total...
85
413
Number of accounts for which national banks are acting as
transfer agent
Number of accounts for which national banks are acting as
registrar
8
H
W
O
F
F
H
W
Number of corporate accounts being administered:
Bond or debenture issues
Paying agencies
Depositories and other miscellaneous corporate accounts.
Total number of accounts being administered.
H
19
162
2,670
12,613
45
4,045
4,105
38,764
441,733
495,961
w
w
H
1
TABLE NO. 19.—Fiduciary actitities of national banks by Federal Reserve districts as of Dec. 81, 1960
Federal Reserve districts
Number
of banks
exercising
fiduciary
powers
Number
with authority
but not
exercising
fiduciary
powers
133
150
183
106
136
134
241
119
50
107
106
42
25
19
4
8
23
21
32
19
15
37
24
4
1,507
231
Boston
New York
Philadelphia
Cleveland
Richmond
Atlanta
Chicago
St. Louis
Minneapolis
Kansas City
Dallas
San Francisco
Total
Trust department liabilities
Total banking
Total
assets of banks
number
authorized authorized to
exercise fiduto exercise
ciary powers
fiduciary
powers
Trusts
Agency,
escrow,
custodian, and
corporate
accounts
All other
liabilities
$6,440,016,005
16,213,272,587
5,120,447,892
9,667,935,550
5,979,153,707
8,714,625,146
19,022,509,335
4,272,204,647
3,016,343,962
6,241,207,867
9,232,895,926
26,313,973,547
$2,119,743,943
3,312,604,663
896,277,123
5,027,217,292
1,402,179,314
1,597,320,836
4,150,195,710
384,781,885
551,464,773
1,114,935,491
1,342,441,043
3,853,385,441
$3,049,938,321
13,902,824,556
737,126,316
4,096,421,101
1,811,755,238
2,273,734,875
12,486,753,072
388,748,845
2,102,930,479
2,330,536,098
623,649,854
3,361,616,028
$14,323,634
67,350,849
6,292,088
35,920,644
11,264,788
15,224,446
59,738,578
5,438,082
5,873,478
12,627,924
39,418,689
24,915,188
$5,184,005,898
17,282,780,068
1,639,695,527
9,159,559,037
3,225,199,340
3,886,280,157
16,696,687,360
778,968,812
2,660,268,730
3,458,099,513
2,005,509, 586
7,239,916,657
i 1,738 120,234, 586,171
25,752,547, 514
47,166,034,783
298,388,388
73,216,970,685
>-3
W
O
&
Trust department
gross earnings for
year ended
Dec. 31,1960
a
w
158
169
187
114
159
155
273
138
65
144
130
46
Number of accounts being administered
Federal Reserve districts
Trusts
Agency,
escrow,
and
custodian
accounts
Corporate
trust bond
issue
accounts
All other
accounts
Total
number of
accounts
27,849
44,941
Boston
New York
PhiladelphiaCleveland
Richmond
Atlanta
Chicago
St. Louis
Minneapolis-.
Kansas City_.
Dallas
San Francisco.
19,188
21,614
28,597
37,006
23,991
20,040
84,529
8,273
10,423
16,244
13,843
41,180
7,121
15,544
2,693
7,539
6,614
7,144
24,905
2,307
7,210
13,156
3,213
17,809
287
616
689
1,221
433
1,108
2,029
1,977
455
810
524
576
1,253
7,167
657
2,850
1,139
4,986
11,027
2,155
398
5,569
4,526
3,326
48,616
32,177
33,278
122,490
14,712
18,486
35,779
Total-_.
324,928
115,255
10,725
45,053
495,961
22,106
Bond and debenture issues
outstanding
where bank
acts as trustee
Common trust funds
Number of
funds
$972,992,359
12,172,064,900
532,807,127
3,989,882,159
1,385,095,294
1,830,879,934
7,566,517,427
884,002.913
452,385,625
1,512,485,611
1,296,848,953
3,366,654,144
35,962,616,446
8
282
1 Includes 28 banks which have been granted only certain specificfiduciarypowers.
2 Includes 35 funds operated under sec. 17(b) of Regulation F of the Board of Governors of the Federal Reserve System, with assets of $1,692,133.
Ledger
value of
Total
liabilities
$91, 593, 724
44,580,626
45,955,903
162,104,293
72, 111, 914
49,426,140
54,676,665
8,230,436
19,324,617
64,432,298
39,267,727
149,977,297
$14,210, 000
35,039, 000
6,130, 000
23,519, 000
9,142, 000
11,192, 000
39,101, 000
3,180, 000
6,538, 000
8,748, 000
8,853, 000
34,947, 000
801,681,640
200,599,000
W
H
»TJ
o
»
o
H
o
w
»
a
§
CO
C7<
TABLE NO. 20.—Classification of investments under administration by the active national bank trust departments, Dec. 81, 1960
Trust department investments classified according to capital stock of banks administering
trusts
Banks with
Banks with
Banks with
Banks with
Banks with
Banks with
capital stock of
capital stock of
capital stock of
capital stock of
capital stock of
capital stock of
$25,000
$25,001 to $50,000
$50,001 to $100,000.
$100,001 to $200,000
$200,001 to $500,000
$500,001 and over
Total
Percent
Bonds
Stocks
$52,427
826,965
16,150,490
82,546,092
316,360,240
26,961,058,511
$29,362
64.10
686,244
38.31
19,492,128
36.63
100,092,990
34.67
495,810,274
31.05
62.35 11,606,796,774
27,376,994,725
61.46 12,222,907,772
Percent
Real-estate
mortgages
Percent
Real estate
Percent
Miscellaneous
Percent
CD
Total
investments
35.90
$181,853
31.79
44.20
3,270,735
42.04
26,116,879
48.65
78,662,897
26.84 1,663,668,539
8.42
$383,925
7.42
3,766,414
10.97
21,642,098
7.72
71,130,347
3.85 1,401,761,855
$79,921
17.78
1,417,267
8.54
7,685,649
9.09
57,036,016
6.98
3.24 1, 607,857,110
$81,789
2,158,908
3.70
44,097,034
3.21
238,083,708
3.23
5.60 1,018,999,774
3.72 43,241,142,789
27.44 1,771,900,903
3.98 1,498,684,639
3.36 1,674,075,963
3.76 44.544,564,002
H
^
O
W
H
o
3
H
TABLE N O .
Location
a
o
21.—Fiduciary activities of national banks by States as of Dec. 81,
Number
of banks
exercising
fiduciary
powers
Number
with authority
but not
exercising
fiduciary
powers
Total
number
authorized
to exercise
fiduciary
powers
Total banking
assets of banks
authorized to
exercise fiduciary powers
34
4
2
25
13
30
14
1
3
45
24
1
4
131
98
50
36
54
20
18
$1,400, 089,764
163, 553,034
1,055, 412,655
565, 494,650
18,946, 812,226
1,276, 924,044
1,230, 218.422
3, 187,993
892, 790,362
2, 588, 402,624
1,647, 252,158
319, 920,081
494, 788,817
10,491, 707,251
3,171, 875,281
942, 658.423
952, 691,195
938, 835,942
1,912, 071,145
342, 270,367
Trust department liabilities
•3
w
Trusts
Agency, escow,
custodian, and
corporate
accounts
$326,583,153
3,289,717
0)
71,840,284
2,882,981,080
305,188,672
595,098,565
09
3 139,686,656
628,485,017
340,991,649
$290,269,415
521,078
0)
28,508,759
2,499,674,139
468,948,131
579,946,827
(2)
»255,839,967
807,087,989
443,722,154
$3,948,774
15,790
0)
445,699
18,515,444
6,059,989
3,832,416
(2)
31,714,642
4,716,228
3,332,391
$620,801,342
3.826,585
P*
100,794,742
5,401,170,663
780,196,792
1,178,877,808
(2)
3 397,241,265
1,440,289,234
788,046,194
22,525,637
2,302,711,270
626,291,106
116,243,076
96,381, 543
107,180,072
94,850,447
97,943,987
2,202,497
9,975,261,057
599,393,449
81,895,759
110,422,787
55,143,276
474,180,995
129,672,344
75,918
40,832,029
8,707,397
809,458
843,787
1,126,275
1,801,552
391,034
24,804,052
12,318,804,356
1,234,391,952
198,948,293
207,648,117
163,449,623
570,832,994
228,007,365
All other
liabilities
Total
liabilities
o
&
H
W
O
Alabama
Alaska
Arizona
Arkansas
California
Colorado
Connecticut
—
Delaware
District of Columbia..
Florida
Georgia
Hawaii
Idaho
Illinois
Indiana
Iowa
Kansas
Kentucky
Louisiana
Maine
4
116
92
33
28
50
18
18
H
W
W
H
Maryland
MassachusettsMichigan
Minnesota
Mississippi
Missouri
Montana
Nebraska
Nevada
New Hampshire
New Jersey
New Mexico
New York
North Carolina.
North Dakota..
Ohio
Oklahoma
Oregon
Pennsylvania....
Rhode Island.
South Carolina..
South Dakota. _
Tennessee
Texas
Utah
Vermont
Virginia
Washington
West VirginiaWisconsin
Wyoming
Total
See footnotes at end of table.
15
65
25
20
17
25
8
9
2
22
96
8
92
21
5
46
23
2
171
2
11
7
27
99
2
15
65
13
24
31
12
1,507
4
13
3
6
1
7
2
10
1
9
10
2
10
3
2
3
7
1
4
6
6
1
19
78
28
26
18
32
10
19
3
31
106
10
102
24
7
49
30
3
175
2
15
9
32
119
3
17
71
13
30
37
13
082,532,493
232,295,490
448,859,141
170,836,838
372,171,123
171,165.695
261,054,442
843,659,663
329.787.288
278,309,209
150,973,653
402,157,191
702,792,006
015,295,081
127,625,655
179,439,219
672,431,876
900,153,892
228,621,540
544,270,910
657,441,015
289,461,435
188,719,941
764.201.289
499,643,282
173,471,498
798,724,328
603,902,272
557,955,993
998,785,867
250,890,412
231
7 1,738
120,234,586,171
4
2
5
20
1
2
6
349,857,721
1,268,865,965
936,528,954
480,528,300
27,463,775
332,924,714
12,078,598
131,967,893
4 450,942,049
48,619,737
500,745,873
52,794,572
2,815,347,197
249,727,302
19,378, 510
1,627,847,940
231,527,038
0)
4,127,115,710
(5)
127,559,175
27,353,663
346,505,692
1,296,979,848
(0
6 222,397,284
438,768,865
493,646,958
106,165,333
252,803,998
17,832,919
25,752, 547,514
413,680,216
2,165,316,046
1,498,826,349
2,063,410,574
3,825,812
854,532,538
12,237,562
371,919,816
<484,450,337
31,208,329
1,366,114,623
37,153,411
12,925,421,792
76, 516,797
15,116,580
1,470,336,661
643,772,178
(')
2,892,931,255
5
()
78,249,917
10,980,794
361,077,216
609,199,640
0)
«218,356,768
968,315,018
374,767,977
20,540,107
367,053,482
28,032,365
47,166,034,783
2,370,713
10,262,052
6,567,563
5,131,117
138,494
3,051,658
327,585
500,394
* 3,876,142
479,771
5,788,639
412,952
61,701,730
1,420,250
178,337
23,683,504
2,827,680
0) •
17,045,157
(5>
1,353,928
157,640
3,881,349
39,033,850
0)
6 69,526
3,567,318
2,431,894
933,326
3,846,565
180,431
765,908,650
3,444,444,063
2,441,922,866
2,549,069,991
31,428,081
1,190,508,910
24,643,745
504,388,103
* 939,268, 528
80,307,837
1,872,649,135
90,360,935
15,802,470,719
327,664,349
34,673,427
3,121,868,105
878,126,896
0)
7,037,092,122
(5)
207,163,020
38,492,097
711,464,257
1,945,213,338
0)
6 440,823,578
1,410,651,201
870,846,829
127,638,766
623,704,045
46,045,715
73,216,970,685
3H
a
d
w
w
H
O
K}
CO
TABLE NO. 21.—Fiduciary activities of national banks by States as of Dec. SI,
1960—Continued
Number of accounts being administered
Location
Alabama
Alaska
Arizona
Arkansas
California
Colorado
Connecticut
Delaware
District of ColumbiaFlorida
Georgia
«...
Hawaii
Idaho
Illinois
Indiana
Iowa.
Kentucky
Louisiana
Maine
Maryland
Massachusetts
Michigan
Minnesota
Mississippi
Missouri
Montana
Nebraska
Nevada
New Hampshire..
New Jersey.
New Mexico
New York
North Carolina...
North Dakota
Ohio
Oklahoma
Oregon
Pennsylvania
Rhode Island
Trusts
3,503
71
Agency,
escrow, and
custodian
accounts
0)
1,178
5
239
13,542
2,223
l 2,704
25,962
5,918
6,037
(a)
» 1,530
6,907
4,205
()
1,146
61,223
10,993
2,083
1,967
2,601
2,229
1,604
3,178
9,827
8,299
8,124
712
4,262
251
1,893
* 7,589
656
7,632
847
15,395
5,772
845
12,495
1,748
0)
49,204
(«)
43
15,322
3,213
826
2,474
1,119
1,443
500
1,278
3,639
4,058
6,194
84
1,871
695
2,191
* 2,145
201
2,844
982
12,434
524
79
4,259
1,849
(0
5,215
(0
1 742
2,290
1,238
Corporate
trust bond
issue accounts
0)
432
11
1,547
351
302
46
202
149
1
31
1,085
367
80
113
75
172
67
69
160
103
358
8
156
23
134
<93
8
109
5
535
176
51
681
149
WT1,165
All other
accounts
1,336
0)
6
448
2,332
484
429
t1)
•£105
587
1,231
16
9,091
461
51
116
207
1,610
149
240
513
1,102
355
63
2,203
11
60
* 557
21
657
122
6,632
132
8
1,921
2,765
0)
1,3
Total number of accounts
Bond and debenture issues
outstanding
where bank
acts as trustee
6,449
93
0)
3,925
42,187
8,927
9,209
(»)
1 2,423
9,986
6,823
$345,581,227
1,225,645
(0
296,173,848
3,038,820,967
272,900,505
105,688,767
(s)
•318,043,544
611,794,963
427,271,076
$2,015,000
35,000
(0
403,000
26,966,000
3,175,000
4,921,000
(»)
•1,416,000
4,403,000
2,588,000
1,236
86,721
15,034
3,040
4,670
13,479,600
6,442,089,782
611,291,216
23,132,376
125,283,746
22,335,820
294,481,671
123,981,785
388,273,025
731,690,744
376,087,928
332,219,699
2,059,700
517,962,689
17,256,525
291,808,637
* 162,663,586
3,601,063
206,326,605
4,200,000
12,001,770,904
192,733,231
99,102 001
927,162,726
759,946,384
(0
3,546,835,301
(«)
156,000
26,150,000
3,965,000
959,000
789,000
802,000
868,000
799,000
1,567,000
7,704,000
6,626,000
6,020,000
123,000
2,956,000
60,000
1,108,000
< 4,427,000
352,000
5,401,000
323,000
29,808,000
1,187,000
183,000
8,385,000
1,350,000
0)
19,846,000
(«)
5,454
2,320
4,765
14,139
13,562
15,031
867
8,492
980
4,278
<10,384
886
11,242
1,956
34,996
6,604
983
19,356
6,511
0)
56,983
(«)
Trust department gross
earnings for
year ended
Dec. 31,1960
South Carolina
South Dakota _
Tennessee
Texas
Utah
Vermont
Virginia
Washington...
West Virginia.
Wisconsin
Wyoming
Total
2,211
788
4,841
13,140
(0
« 2,210
8,382
6,412
3,078
4,834
691
154
1,542
3,030
0)
6 804
3,011
2,074
382
1,979
1,945
324,928
115,255
iIncluded withfiguresfor the State of Nevada.
* Included withfiguresfor the District of Columbia,
a Includesfiguresfor 1 bank in Delaware.
* Includesfigures^for2jbanks in Arizona, 2 banks in Oregon and 2 banks in Utah.
TABLE N O . 22.—General
33
12
419
514
<9
373
20
1,651
l 4,274
()
• 170
270
415
19
435
90
21
464
12
45,053
10,725
3,308
974
8,453
20,958
(0
• 3,204
11,751
8,991
3,500
7,712
2,596
52,046,510
1,986,200
259,421,852
1,293,874,053
(0
• 11,179,150
423,334,283
150,464,346
10,664,701
123,282,240
1,085,925
779,000
200,000
2,185,000
8,602,000
(0
• 1,262,000
3,590,000
3,363,000
654,000
2,020,000
108,000
495,961
35,962,616,446
200,599,000
H
o
ss
H
o
Included withfiguresfor the State of Vermont.
• Includesfiguresfor 2 banks in Rhode Island.
7 Includes 28 banks which have been granted only certain specificfiduciarypowers.
4
H
O
o
comparative figures of fiduciary activities
fS
Dec. 3 1 -
1928.
1951
1952.
1953
1954
1955.
1956.
1957.
1958.
1959.
1960.
l Includes agency accounts in 1928.
Number of
banks ex- Aggregate trust
ercising
department
trust
liabilities
powers
1,585
1.512
1.513
1,513
1,503
1,480
1,486
1.476
1.477
1,493
1,507
$3,297, 310,000
36,136, 628,000
39,665, 972,000
43,150, 202,000
47,938, 669,000
37,187, 831,000
39,000, 150,658
42, 578, 976,765
46,781, 622,956
56,557, 883,314
73,216, 970,685
Common trust funds
Outstanding
bonds and
debentures
$7,978, 389,000
14,550, 564,000
16,051, 953,000
17,625, 838,000
19,485, 675,000
17,358, 441,000
19,200, 708,415
22,044, 165,180
24,752, 735,531
33,094, 290,492
35,962, 616,446
Gross trust
department
earnings
$16, 165,000
75, 130,000
80, 627,000
85, 990,000
100, 761,000
103, 033,000
116, 845,000
129, 433,000
141 473,000
182, 016,000
200,
000
Number
2
()
60
71
88
105
130
165
218
234
282
Amount
2
()
$187, 392,016
213, 929,020
276, 970,954
320, 954,835
382, 397,189
432, 822,133
518, 734,862
685, 188,235
801, 681,640
Number of accounts
Trusts
i 53,853
171,589
184,125
194,231
207,157
214,383
231,991
248,048
270,789
303,933
324,928
Agency,
etc.
2
()
78,171
72,725
77,473
82,032
74,832
79,327
82,916
87,593
105,977
115,255
Corporate
trust, bond
and debenture
issues
9,923
7,217
7,611
8,011
8,056
8,381
8,839
9,619
10,139
10,725
SJ
o
Other
accounts
t1
H
W
O
2
()
(')
33,893
37,370
38,396
34,543
35,103
36,860
37,910
45,087
45,053
H
O
d
w
W
H
O
* Thesefigureswere not developed at the time.
CD
CO
TABLE NO. 23.—National banks administering employee benefit trusts and agencies during 1960 by Federal Reserve districts
Number of
banks
Federal Reserve districts
Boston
New York
Philadelphia
Cleveland
Richmond
Atlanta
Chicago
St. Louis
Minneapolis
Kansas City
Dallas
San Francisco
-
Total for national b a n k s . . .
Nonnational banks located in the District of Columbia
Total
TABLE NO.
Location
With investment responsibility
Investments directed by
others
Held asi agent only
Number of
fully insured
plans with no
bank investment responsibility
Number of
plans
Market value
142,862,272
889,694,871
54,363,706
1,711,417,969
108,957,005
169,124,695
2,407,595,417
33,567,227
202, 515,299
94,629,885
135,844,161
348,676,719
161
223
196
557
322
196
610
56
89
167
203
1,011
27,751,207
420,641,999
38,577,901
281,098,037
89,054,233
47,999,855
322,865,151
17,420,851
29,597,120
46,332,561
146,549,008
306,950,076
61
120
41
60
26
50
310
16
22
36
63
58
69,548,744
114,618,769
301,438,459
1,074,376,763
49,643,134
260,937,297
288,473,520
105,321,186
5,552,114
38,270,739
47,496,069
60,601,840
101
91
68
457
114
212
283
32
133
143
24
213
8,333
34
6,299,249,226
9,266,892
3,791
20
1,774,837,999
4,345,192
863
21
2,416,278,634
130,328,078
1,871
112
8,367
6,308,516,118
3,811
1,779,183,191
884
2,546,606,712
1,983
Number of
plans
Market value
45
65
88
65
61
73
137
46
32
65
59
33
418
730
278
1,018
440
707
2,187
190
673
520
450
722
769
3
772
Number of
plans
Amount
With investment responsibility
w
H
O
w
Investments directed by
others
Held as agent only
Number of
plans
Market value
Number of
plans
Market value
Number of
plans
175
33
3,633,977
11
20
487
95
151
59,464,756
0)
(2)
2,197,025
293,214,767
18,666,068
77,842,915
12
864
49
55
(2)
767,631
269,871,120
7,574,193
12,539,158
126
44, 698,684
66
25,317,526
Amount
o
»=)
M
H
o
o
K
§
t-1
f
H
w
0
24.—National banks administering employee benefit trusts and agencies during 1960 by States
Number of
banks
to
o
o
Number of
fully insured
plans with no
bank investment responsibility
1
w
H
Alabama
Alaska
Arizona
Arkansas
California
Colorado
Connecticut
Delaware
Florida
-
_
13
2
2
9
12
13
11
27
0)
(2)
0)
(2)
0)
(2)
1
23
11
24
13,065,373
(9
(2)
2,276,294
48,273,246
21,579,008
10,433,092
5
11,388,469
16
0)
(2)
3
1
150
18
42
46
Georgia
Hawaii
Idaho—
..
Illinois—
Indiana
Iowa.—
Kansas
Kentucky
Louisiana..
Maine
Maryland
Massachusetts
Michigan
Minnesota
Mississippi
Missouri
Montana
Nebraska
Nevada
New Hampshire
New Jersey
New Mexico
New York
North Carolina
North Dakota
Ohio
Oklahoma
Oregon
Pennsylvania
Rhode Island
South Carolina
South Dakota
Tennessee
Texas
Utah
Vermont
Virginia
Washington
West Virginia
Wisconsin
Wyoming
District of Columbia..
10
Total for national banks
Nonnational banks located in the District of Columbia
Total.
1 Included withfiguresfor the State of Oregon.
2 Included withfiguresfor the State of Nevada.
s Includesfiguresfor 2 banks in Arizona and 2 banks in Utah.
242
68
69
77
21
85
6
18
6, 299,249,226
9,266,892
3, 791
20
1, 774,837, 999
4,345,192
6,308,516,118
3,811
1,779,183,191
192
2 428
( ))
6 48
110
108
24
167
6
79
769
3
8,333
34
772
8,367
0)
42
13
14
31
11
69
91
230
53
3
28
8
39
3 34
4
82
12
171
107
17
379
27
4 36
327
5
()
2
()
28
196
15
21,300,519
242
20
4
2
1
13
(0
209,948,772
9,580, 628
596,150
177,647
50,915
201,086,790
8, 621, 217
0)
203,110,588
24,959,522
4,325,410
4,287,377
8,125, 699
14,414, 884
4,332, 708
12,671, 229
13, 806,740
52,652, 348
28,488,865
77,187
7,471,443
288,193
12,450,492
3 8,465,090
209,803
17, 236, 635
206,582
402,377,330
25,026,973
610,449
197,133,076
17,353,430
4 7,907,761
118, 273,050
s
()
12,164, 278
181, 655
5,587, 669
141,184,049
(2)
6 1,717,234
25,030,339
20,706,106
3,403, 619
38,892,379
475,090
10,907,895
0)
1,570,296,628
66,986,565
11,474, 806
4,225,338
1,776,243
10,155,895
2,312,336
6,579,692
42,230,253
729,443,820
200,395,023
1,295,157
46,494,053
249,414
6,027,887
3 15,029,938
743,375
12,459,200
1,368,744
876,850,615
20,795,606
392,549
263,957,374
28,836,940
4 13,006, 615
1,496,469,327
5
()
10,306, 628
1,464,201
29,044,583
131,001,798
2
()
6 24,824,584
21,366,117
27,425,399
1,409,237
38,678,965
133,719
48,552,414
0)
1,091
376
57
49
20
43
29
19
206
557
626
15
221
5
85
3 64
9
119
22
649
131
31
658
78
4 63
565
5
()
79
59
39,103, 973
0)
42
0)
8
56
46
19
28
5
49
3
20
51
119
87
13
54
5
45
3 10
5
29
3
66
39
27
375
11
48
134
2
15
10
51
21
25,999,089
33,782,412
28, 204,305
5,552,114
24
97,198,953
788,699
(3)
65, 246
296,946, 291
12,842
102,594, 548
10,361
3
()
11,469,543
3,984, 296
4 4,918,302
1,078,409,519
(5)
183, 897
5
()
32, 607,671
46,463,792
2
()
6 26,231,169
13,314,803
7,410, 292
2
()
()
"l0,"134^983
16
45
3
53
4
23
2,416, 278,634
130,328,078
1,871
112
40,238, 604
863
21
()
o
w
o
B
o
o
K
htf
Hi
W
O
t+
B
W
O
fet
o
ct
w
w
te)
a
2,546,606, 712
4 Includesfiguresfor 2 banks in Alaska and 2 banks in Idaho.
«Included withfiguresfor the State of Vermont.
«Includesfiguresfor 1 bank in Rhode Island.
to
o
to
25.—Earnings, expenses, and dividends of national banks for the year ended Dec. SI, 1960
TABLB N O .
o
to
[Dollar figures in thousands]
Earnings from current operations
Number of
banks 1
Location
Maine
New Hampshire
Vermont
Massachusetts
Rhode Island
Connecticut
Total New England States
New York
New Jersey
Pennsylvania
Delaware
Maryland
District of Columbia
Total Eastern States
Virginia
West Virginia
North Carolina
South Carolina
Georgia
Florida
Alabama
Mississippi
Louisiana
Texas
Arkansas
Kentucky
Tennessee
Total Southern States.—
-
Interest and dividends
on securities
Interest
and
discount
on loans
Service
charges
and other
fees on
banks'
loans
Service
charges on
deposit
accounts
Other service
charges,
commissiois,
fees, and collection and
exchange
charges
U.S. Government obligations
Other
securities
23
51
31
103
4
23
2,689
2,318
1,559
26,856
3,661
6,557
702
604
434
6,136
1,651
2,527
11,670
9,472
7,373
122,189
17,154
37,370
139
70
82
1,891
149
643
981
1,595
723
11,191
1,409
4,249
263
300
135
7,401
542
836
235
43,640
12,054
205,228
2,974
20,148
9,477
239
160
462
3
50
5
77,214
31,791
68,419
98
9,622
7,648
33,502
17,409
28,218
20
2,415
837
358,776
113,531
254,692
212
25,841
21,451
5,960
1,648
2,641
393
319
24,617
12,920
14,553
9
2,382
2,279
8,490
2,110
3,720
1
627
560
919
194,792
82,401
774,503
10,961
56,760
«
O
Trust
department
Other
current
earnings
Total earnings from
current
operations
282
247
207
6,322
1,011
1,126
17, 525
14,958
10,643
189,690
26,709
58,229
15,038
9,195
317,754
29,808
5,401
19,846
1,567
1,416
29,596
3,123
8,576
2
1,453
508
567,963
187,933
400,665
342
44,300
35,018
15,508
58,038
43,258
1,236,221
1,776
865
668
403
2,123
5,249
1,654
1,009
2,852
18,873
663
843
2,208
90,424
30,143
40,530
30,796
81,953
140,054
70,834
17,935
78,713
382,502
27,330
38,960
98,660
39,186
1,128,834
799
352
130
7,704
1,132
4,921
129
77
36
25
53
119
69
27
42
468
55
87
75
14,216
7,895
5,697
5,687
10,009
28,622
11,206
3,205
15,687
64,330
5,042
8,730
15,302
5,004
1,328
1,661
1,362
2,808
6,921
4,490
1,437
3,965
20,830
2,350
2,148
5,032
58,658
17,669
26,561
18,705
54,802
79,918
44,917
10,027
48,777
245,612
16,439
23,812
67,072
718
179
545
80
796
2,513
467
11
367
2,610
67
450
557
5,132
1,170
2,913
2,778
5,847
10,044
4,698
1,438
4,634
16,521
1,660
1,917
4,218
1,330
383
1,298
1,002
2,980
2,384
1,387
685
1,563
5,124
706
258
2,086
3,590
654
1,187
779
2,588
4,403
2,015
123
868
8,602
403
802
2,185
1,262
195,628
59,336
712,969
9,360
62,970
21,186
28,199
w
»-3
o
M
a
o
o
K
•d
C
t»
H
S3
O
w
Stf
H
1
Ohio
Indiana
Illinois
Michigan
Wisconsin.
MinnesotaIowa
Missouri
Total Middle Western States..
North Dakota..
South Dakota..
Nebraska
Kansas
Montana
Wyoming
Colorado
New Mexico. ~
Oklahoma
Total Western States..
223
125
396
76
99
179
96
77
55,434
28,735
107,987
38,134
18,304
19,773
8,289
15,898
15,565
5,545
32,426
12,757
4,693
6,854
2,584
3,958
160,264
78,125
307,455
117,360
50,166
85,278
26,131
57,357
1,697
853
4,342
1,419
621
1,325
185
13,520
6,586
18,067
9,502
3,581
7,641
2,496
2,840
2,969
1,463
8,381
2,653
1,032
4,196
933
674
8,385
3,965
26,150
6,626
2,020
6,020
959
2,956
7,907
3,893
11,640
3,296
2,220
3,214
1,003
1,556
265,741
129,165
516,448
191,747
82,637
134,301
42,580
85,619
1,271
292,554
84,382
882,136
10,822
64,233
22,301
57,081
34,729
1,448,238
38
33
121
167
42
26
78
29
200
3,583
9,022
13,293
4,098
2,949
11,130
5,324
17,896
1,171
939
2,439
4,096
1,073
646
1,928
661
5,132
10,098
12,699
32,026
29,586
12,250
8,436
42,932
14,261
55,815
138
388
102
186
298
270
615
349
420
1,182
1,394
2,713
3,747
1,626
934
4,808
1,745
5,290
791
849
701
644
579
477
1,050
183
200
1,108
789
60
108
3,175
323
1,350
368
323
1,409
1,873
757
323
1,263
605
4,115
17,757
20,295
49,520
54,214
20,741
14,143
66,733
23,958
91,068
734
71,121
18,085
218,103
2,686
23,439
6,663
11,036
358,429
15,603
11,109
99,546
4,764
2,562
2,223
4,548
i
2,063
5,340
4,449
35,804
1,009
1,305
918
1,575
385
566
83,006
56,831
633,022
15,175
16,061
10,469
38,912
6,114
9,572
14,047
252
809
404
1,664
556
260
11,744
7,570
70,423
2,021
1,555
698
4,411
943
793
2,905
1,661
13,913
516
538
457
1,517
568
223
3,363
2,244
26,966
156
421
646
1,116
35
2,431
1,278
16,881
472
134
373
1,448
130
241
125,978
85,833
910,602
24,365
23,385
16,188
55,191
10,114
13,718
108
143,801
51,351
869,162
20,269
100,158
22,298
34,947
23,388
1,265,374
4,529
941,536
161
307,609
73
3,662,101
57,072
18
327,708
11
97,433
200,599
160,792
3
5,754,850
730
941,697
307,682
3,662,497
57,090
327,719
97,501
200,599
160,795
5,755,580
43,839
44,442
350,628
502,788
19,561
15,497
114,273
158,351
211,691
186,869
1,692,010
1,571,927
3,571
2,089
28,713
22, 717
7,697
2,010
141,088
176,924
4,586
5,015
41,155
46,745
26,641
22, 532
98,462
52,964
26,217
6,839
68,315
59,424
343,803
285,293
2,534,644
2,591,840
Washington.
Oregon
California . . .
Idaho...
Utah,.. . . . . .
Nevada
Arizona
Alaska
Hawaii
T otal Pacific States..
Total United States (exclusive of
of possessions)
Virgin Islands of the United States
Total United States and possessions....
New York City (central Reserve city)..
Chicago (central Reserve city)
Other Reserve cities
Country banks
149
4,369
i Number of banks as of end of year, butfiguresof earnings, expenses, etc., include those banks which were in operation a part of the year but were inactive at the close
of the year.
S>
*
O
S3
O
6H
W
O
U
H
S3
O
S3
S3
H
a
to
o
00
TABLE NO.
25.—Earnings, expenses, and dividends of national banks for the year ended Dec. 81, 1960—Continued
fcO
o
[Dollar figures in thousands]
Current operating expenses
Salaries and wages
Location
Amount
Maine
New Hampshire
Vermont
Massachusetts
Rhode Island
Connecticut
__
Total New England States
New York
New Jersey
Pennsylvania
Delaware
Maryland
District of Columbia
_
_
. _
__
.
___
_ -
Total Eastern States
Virginia
West Virginia
North Carolina
South Carolina
Georgia
Florida
Alabama
Mississippi
Louisiana
Texas
Arkansas
Kentucky
Tennessee
__
Total Southern States
Employees other
than officers
Officers
__
_ ...
_
Number i
1,740
1,828
1,096
15,228
1, 693
5,871
205
247
149
1,494
179
538
27, 456
2,812
36,091
15,818
32,216
44
3, 771
3,363
3,222
1, 619
3, 542
9
465
271
91,303
9,128
8, 708
3,128
4, 694
3,386
7,358
12,760
6,901
1, 904
7,113
39,448
3,402
4,496
8,715
1,025
378
555
372
735
1,323
721
217
621
4,030
405
628
960
112,013
11,970
Amount
Number 2
Fees paid
to directors and
members
of executive, discount and
advisory
committees
Taxes
other
than on
net
income
Recurring
depreciation on
banking
house,
furniture
and
fixtures
45
59
32
1,023
230
419
500
320
160
4,419
995
1,406
540
428
300
3, 744
577
1, 345
Interest Interest
on time
and
deposits discount
on
(includboring
rowed
savings
deposits) money
Other
current
operating
expenses
Total
current
operating
expenses
3,031
3,365
1,671
32,229
3,954
12,055
12,373
10,290
8,357
104,438
18, 541
40,945
Net
earnings
from
current
operations
w
o
5,152
4,668
2,286
85,252
8,168
17,284
1,051
835
517
10,640
1,417
3,661
146
188
140
797
96
312
3,253
1,605
3,357
10,446
6,926
6, 530
60,845
18,121
1, 679
32,117
1,808
7,800
6,934
56,305
194,944
122,810
93,688
34,406
64,131
36
7,926
6,667
23,444
9,897
17,962
12
2,750
1,742
1,673
1,475
3,090
9
297
231
93,327
43,326
82,389
106
7,238
4,290
7,126
755
1,721
1
289
239
9,199
5,950
13, 742
7
1,656
1,321
9, 649
5,375
8.849
13
702
911
96,604
29,626
56,695
40
7,067
4, 637
347,357
136,731
262,833
256
28, 946
21, 659
220, 606
51,202
137,832
86
15, 354
13,359
206,854
55,807
6,775
230,676
10,131
31,875
25,499
194,669
797, 782
438,439
14,016
4,244
7,821
6.137
14,904
25,855
11,877
2,909
13,871
53,684
4.138
6,044
15,161
4,539
1,306
2,905
2,032
4,532
7,828
3,646
933
4,048
15,780
1,399
2,253
4,968
709
342
198
182
402
810
351
176
402
2,083
319
360
400
17,170
5,111
4, 457
2,099
8,262
20.058
10, 643
2,299
10,445
45.059
3,807
4,708
17,898
422
94
250
112
876
1,205
221
84
901
5,928
72
123
664
2, 512
751
695
538
3,442
3,531
789
635
4,501
19, 567
678
1,398
3,528
2,260
779
944
850
2,166
4, 426
1,368
453
1,462
9,689
717
836
1,845
13,381
4, 596
7, 577
6,262
17,365
25, 614
12,346
3,924
11,819
61,785
5,156
6,994
15,358
59,178
19,045
26,636
19, 566
54,775
94,259
44,496
12,384
50,514
237,243
18,289
24,959
63,569
31,246
11,098
13,894
11,230
27,178
45,795
26,338
5,551
28,199
145,259
9,041
14,001
35,091
180,661
56,169
6,734
152,016
10,952
42, 565
27,795
192,177
724,913
403,921
3,118
2,497
1,601
36. 552
4.070
13,007
w
H
HJ
O
H
O
o
K
^
§
p
H
W
O
»==J
H
O
d
W
w
H
§
Kl
48, 586
21,044
83,071
37,326
17, 527
20,244
6,408
9,819
1,317
408
8, 652
1, 631
443
2, 728
248
723
11,427
4,897
11,263
7,204
1, 282
1, 943
1,045
1, 500
5,457
3,115
6,566
2,633
1,800
2,459
786
1, 422
39, 715
21,780
74, 562
31,445
12,680
24,269
7,840
14,456
170, 628
87,235
303, 802
129,937
55, 582
88,073
28, 548
50, 830
95,113
41, 930
212,646
61,810
27,055
46,228
14,032
34,789
244,025
16,150
40, 561
24,238
226, 747
914, 635
533, 603
3 , 508
3,496
3,515
6,082
3, 478
2,353
9,797
3,155
9, 657
59
115
407
178
64
103
314
46
1,336
287
330
1,172
1,460
1,040
354
836
842
1,226
434
554
1,038
1, 260
517
359
1,225
674
2, 584
2,834
3,412
9,261
9,192
3,609
1,818
11,853
4,062
15, 782
11, 571
13,194
30, 601
33, 664
14, 308
8,914
42, 797
15, 783
55,069
6,186
7,101
18, 919
20, 550
6,433
5,229
23,936
8,175
35, 999
2,477
45,041
2, 622
7, 547
8,645
61,823
225,901
132, 528
270
134
601
73
97
25
96
30
27
21,213
19,469
209,069
4, 846
4, 878
2,955
8,009
1,267
2,894
310
665
6,538
185
212
88
89
82
72
2,405
1,745
26,977
357
196
435
838
213
169
3,289
1, 794
14, 442
657
283
304
1, 560
356
459
19,056
10, 723
117,858
3,157
3, 713
1,951
11,445
2,002
2,562
82,983
58,727
614,039
15,414
14,234
9,843
38,428
7,480
9,382
42,995
27,106
296, 563
8,951
9,151
6,345
16, 763
2,634
4,336
274, 600
8,241
33,335
23,144
172, 467
850, 530
414, 844
_ __
20,495
12,038
37,318
12,443
8,006
12, 853
5,470
7, 737
1,965
1,223
3,298
1,070
754
1,324
601
770
42,319
23,226
80,153
36,655
13,384
22,881
6,466
14,696
11,516
6,678
20, 513
9, 931
4, 318
6, 573
2, 053
4,364
1,312
727
2,217
600
460
696
285
477
Total Middle Western States-
116,360
11,005
239, 780
65,946
6,774
1,944
2, 532
7,015
7, 454
2,161
1, 634
6, 725
2, 587
11,255
227
318
720
883
252
170
703
271
1,320
2,387
2,659
7, 749
7,518
3,324
2,190
11, 592
4,311
12, 709
829
927
2, 555
2,400
1,057
646
3,345
1,340
4,000
118
96
444
520
115
103
455
106
520
43,307
4, 864
54,439
17.099
11,663
8,718
63,825
2, 487
1, 621
1,428
5,051
1,223
997
1,216
1,039
6,728
254
195
180
541
98
96
24, 777
15,479
174,729
3, 652
3,234
2, 657
11,340
2,307
2,202
6,507
4,050
42, 353
1,130
1,047
749
3,301
528
628
97,013
10,347
240,377
60, 293
1,353
Ohio
Indiana
Illinois
Michigan
Wisconsin
Minnesota
Iowa
Missouri
North Dakota
South Dakota
Nebraska
Kansas
Montana
Wyoming
Colorado
New Mexico
Oklahoma
_
______
_ _ _
_ __
_ __
_ _
_ _ _
_
_
_
_ ___
_
_
_ _ __ __
_
__ _ -
__ __
-
_ __
_ ___
__
Total Western States
Washington
Oregon
California
Idaho
Utah
Nevada
Arizona
Alaska
Hawaii
___
_ _
_
__ _._ _ _
_ _ _ _
_
__
_ __ _
_ _ _
_.
_ .__ __
Total Pacific States
Total United States (exclusive of
possessions)
Virgin Islands of the United States
Total United States and possessions...
New York City (central Reserve city)
Chicago (central Reserve city)
Other Reserve cities
Country banks
...
'
_
=
"—
=
487,452
50
50,126
5
982, 956
145
273,435
42
25, 792
5
978, 475
230
49, 904
163,683
5
116, 255
15
904,188 3,708, 705
553
103
2,046,145
177
487, 502
50,131
983,101
273,477
25, 797
978, 705
49, 904
163, 688
116,270
904,291 3, 709,258
2,046,322
16,495
12,815
180,462
277,730
1,080
740
16, 539
31,772
57, 504
43,068
460,676
421,853
13,033
9,821
120,741
129,882
242
247
3,821
21,487
40,899
31,191
410,718
495, 897
6,225
8,146
26,914
8,619
4,927
5,571
80,825
72,365
3, 831
1, 690
40, 993
69,756
189,370
59,247
35, 661 138,389
376,875 1, 581,284
432, 508 1,800,215
154,433
146,904
953,360
791,625
1 Number at end of period.
Number of full-time employees at end of period.
2
to
0
01
TABLE N O .
25.—Earnings, expenses, and dividends of national banks for the year ended Dec. 31, 1960—Continued
[In thousands of dollars]
Recoveries, transfersfromvaluation reserves, and profits1
On securities
Location
Maine
New HampshireVermont
Massachusetts
Rhode Island
Connecticut
Total New England States.
New York..
New Jersey.
Pennsylvania
Delaware
Maryland
District of ColumbiaTotal Eastern States _
Virginia
West Virginia...
North CarolinaSouth Carolina*.
Georgia
Florida
Alabama..
Mississippi
Louisiana
Texas
Arkansas
Kentucky
Total Southern States..
On loans
TransProfits
TransRecov- fers from on secu- Recov- fers from
eries
valuaeries
valuarities
tion
tion
sold or
reserves
redeemed
258
164
.....
7
188
446
"111"
808
748
75
16,030
72
714
63
32
13
276
8
65
457
432
752
18,447
43
72
2,751
5,905
430
378
10,775
3,720
5,634
1
996
20
164
490
1
32
48
1
26
All
other
Losses, chargeoffs, and transfers to valuation reserves2
Total
recoveries,
transfers
from valuation
reserves
and profits
and
chargeoffs
1,057
1,413
158
23,018
322
1,126
318
503
163
11,129
2,654
995
12
25
210
29
161
58
6,077
32
206
6,703
27,094
21,000
168
8,231
23,833
714
1,848
15
156
61,888
5,268
19,332
2
1,239
106
On securities
On loans
Transfers
to valuation
reserves
245
299
and
chargeoffs
Transfers to
valuation
reserves
All
other
"""So
64
27
13
2,044
24
94
15,762
3,480
2,266
8,127
10,530
13,844
6,130
8,948
1
1,162
12,747
1,562
5,828
784
273
550
77,697
6,984
25,949
58
156
19
1,929
941
5,190
1,451
4,063
1
998
454
228
2,796
6
505
145
4,729
287
1,823
252
457
58
8,343
187
1,233
2,916
6,713
21,146
1,067
29,414
26,579
87,835
30,313
20,195
1,788
113,500
12,157
14
1
2
1
2
64
69
5
23
252
51
2
68
127
106
159
106
61
1
80
873
93
486
2,075
4,414
360
1,672
440
6,646
3,773
3,116
219
2,595
3,796
904
1,973
6,106
8
63
135
147
91
46
1,505
115
77
50
67
110
103
7
240
466
62
86
3
267
130
111
139
652
1,039
681
42
750
2,382
82
69
452
5,028
810
1,895
588
7,430
5,121
4,116
365
3,734
9,274
1,307
2,693
8,725
1,903
849
1,219
483
236
2,483
1,148
212
545
3,349
482
394
1,413
2,337
32
1,091
36
2,825
618
385
220
1,601
1,090
319
1,492
4,191
176
193
69
22
70
481
421
105
417
2,642
156
156
77
2,768
646
1,652
1,354
2,383
6,280
3,696
1,256
4,193
14,251
1,121
1,266
3,996
501
158
296
167
1,245
1,439
678
476
843
4,997
458
299
1,982
3,803
36,014
2,478
1,470
6,796
51,086
14,716
16,237
4,985
44,862
13,539
525
Total
losses,
chargeoffs, and
transfers
to valuation
reserves
Ohio-.
Indiana
Illinois
Michigan...
Wisconsin..
Minnesota..
Iowa
Missouri.
Total Middle Western States..
North Dakota..
South Dakota..
Nebraska
Kansas
Montana
Wyoming
Colorado
New Mexico...
Oklahoma
9
599
,853
60
7
247
17
37
5,408
1,179
10,771
680
167
70
132
105
20,789
8,108
18,556
4,343
5,068
1,525
986
4,304
2,829
18,512
63,679
24
12
24
4
249
3
37
29
72
Total Western States .
Washington..
Oregon
California
Idaho
Utah
Nevada
Arizona
Alaska
Hawaii
Total Pacific States
Total United States (exclusive of
possessions)-Virgin Islands of the United States.
Total United States and possessions.
New York City (central Reserve city).
Chicago (central Reserve city)
Other Reserve cities
Country banks
1,736
251
1,016
2,341
69
22
137
108
114
917
1,840
159
564
96
129
28,936
10,401
33,514
9,331
5,495
2,870
1,413
4,723
21,547
3,901
1,909
2,077
924
644
16,088
3,790
12,129
4,207
135
58
57
3,357
576
249
836
400
44
377
77
149
11,031
3,871
23,050
5,255
2,862
2,413
1,166
1,323
1,525
1,400
3,656
3,079
1,065
726
462
446
34,033
11,970
61,218
16,842
6,015
5,651
2,686
5,919
5,680
4,468
96,683
38,475
39,821
2,708
50,971
12,359
144,334
22
95
90
190
258
113
18
346
62
726
472
2,789
1,672
3,268
502
4,411
1,487
2,019
131
289
1,017
812
641
59
508
169
1,191
5
1,094
218
680
2
1,325
95
327
83
139
506
341
138
289
1,C
774
670
1,722
1,135
508
551
1,673
1,398
1,776
186
66
1,253
709
123
322
1,312
414
1,013
1,099
1,113
5,225
3,380
2,293
1,072
5,107
2,174
5,396
1,261
17,346
4,817
3,746
2,691
10,207
5,3
26,859
4,826
3.353
9,529
2,504
2.354
65
6,325
633
17
2,336
375
14,937
226
16
98
18
24
2,060
14,783
52
12
119
72
43
543
304
!, 690
15
45
7
80
30
979
27
1,407
172
3,210
921
28,652
678
422
333
2,025
703
300
918
547
6,709
89
71
45
399
77
122
7,209
3,915
65,200
1,065
509
503
4,828
976
448
1,861
37,244
8,977
84,653
3
227
565
321
2,108
911
187
368
3,788
1,063
975
20
49
97
272
331
113
210
80
492
30
250
164
2,759
10,286
1,664
922
174
42
2,313
62
29
29
260
11
7
196
185
75
4,813
2,660
37
48
3,015
4,840
2,478
2,302
45
5,302
377
374
719
22,226
1,377
187
4,723
29,606
18,056
7,530
33,258
171,798
8,558
37,976
50,530
309,650
122,139
101,994
16,299
264,911
10
62,960
3
13
7,530
33,258
171,798
8,558
37,976
50,530
309,650
122,139
101,994
16,299
264,921
62,963
568,316
1,514
3,580
2,436
5,509
9,991
10,848
6,910
3,105
11,044
79,947
77,702
176
992
7,354
20,534
300
12,067
5,075
20.939
257
16,459
12,875
50,123
23,282
123,893
112,352
10,378
16,235
47,882
47,644
10,582
10,122
60,542
20, 748
26
306
2,805
13,162
68,835
14,580
87,890
93,616
1,884
1,285
29,758
30,036
91,705
42,528
228,877
205,206
13
1 Not including recoveries credited to valuation reserves.
2 Not including losses charged to valuation reserves.
345
150
401
67
25
442
45
40
943
144
w
*m
o
w
H
o
o
o
K
ho
e
w
c
t*
t-1
w
w
o
0
CI
w
w
«
1
to
o
TABLE NO.
25.—Earnings, expenses, and dividends of national banks for the year ended Dec. 31, 1960—Continued
[In thousands of dollars]
Location
Maine
New Hampshire
Vermont
Massachusetts
Rhode Island
Connecticut
Total New England States
New York
New Jersey
Pennsylvania
Delaware
Maryland
District of Columbia
Total Eastern States
Virginia. _.
West Virginia
North Carolina
South Carolina
Georgia
Florida..
Alabama
Mississippi
Louisiana
Texas
Arkansas
Kentucky
Tennessee
Total Southern States
Ohio
Indiana
Illinois
-
Federal
State
Ratios
Cash dividends declared
Taxes on net income
Profits
before
income
taxes
Net profits
before
dividends
2,906
3,102
1,388
38,839
3,490
8,400
On comOn preferred stock mon stock
Total cash
dividends
declared
1,152
958
577
18,855
2,414
4,692
1,152
958
619
18,855
2,414
4,692
Capital
accounts 1
32,880
31,936
20,393
400,230
45,378
95,875
Net profits
before
dividends
to capital
accounts
Expenses
to gross
earnings
Percent
Percent
8.84
9. 71
6. 81
9. 70
7.69
8. 76
4,692
4,290
2,065
79,229
5,338
14,125
1,786
1,188
611
33, 684
1,539
5,012
66
6,706
109, 739
43,820
7,794
58,125
28,648
28,6
626,692
9. 27
172,232
40,070
111,826
80
12,290
11,823
63,248
11,501
38,355
23
4,972
5,786
7,654
101,330
28,569
73,471
56
7,318
6,037
50, 646
11,815
37,041
23
3,971
3,068
50,654
11,829
37,043
23
3,971
3,068
1,168,994
311,303
972,165
866
90,973
68,246
8. 67
9.18
7. 56
6.47
8.04
8. 85
348,321
123,885
7,655
216, 781
106, 564
106,588
2,612,547
8. 30
28,589
10,030
11,462
9, 756
27,849
39,615
24,126
3,647
24,334
128,204
7,812
13,087
32,157
11,584
4,000
4,448
4,023
12,132
15,834
8,279
1,124
9,922
51,976
2,309
5,371
14,476
17,005
6,030
6,671
5, 586
15, 717
23,781
15,013
2,523
14,412
76,228
5, 503
7,716
17,681
7,001
2,234
3,420
2,462
6,087
7,792
4,422
1,185
3,948
36,013
2,465
2, 616
6, 540
7,001
2,234
3,420
2, 462
6,087
7,802
4,422
1,185
3,948
36,013
2,465
2,616
6,540
172,836
71, 111
74, 756
51, 774
138,446
253,674
129,015
30,069
159, 707
809,187
57,109
87,813
180,480
9. 84
8. 48
8.92
10.79
11. 35
9. 37
11.64
8. 39
9. 02
9.42
9.64
8.79
9.80
i, 668
145,478
185
;6,195
2,215,977
9.65
90,016
40,361
184,942
39,660
17,283
72,333
18,651
8,120
36,475
18,651
8,121
36,495
516,775
244,313
1,064,425
9. 74
9. 45
10. 58
713
343
147
834
1,324
213,8
50,356
23,078
112, 609
42
10
10
70.60
68. 79
78. 52
55.06
69.42
70.32
Michigan
Wisconsin
Minnesota
Iowa
Missouri
Total Middle Western States
North Dakota
South Dakota
Nebraska
Kansas
Montana
Wyoming
Colorado
New Mexico
Oklahoma
—
Total Western States
Washington
Oregon
California
Idaho
Utah
Nevada
Arizona
Alaska
Hawaii
Total Pacific States
Total United States (exclusive of
sions)
Virgin Islands of the United States
Total United States and possessions.
New York City (central Reserve city)
Chicago (central Reserve city)
Other Reserve cities
Country banks
13,607
6, 597
10,301
2, 719
6,703
13,607
6, 599
10,301
2, 719
6,703
335,006
150,223
246, 063
85,848
188, 538
10.13
11.75
9.63
9.63
9. 38
67.76
67.26
65. 58
67.05
59.37
103,173
103,196
2,831,191
10.15
63.16
1,495
1,371
4,115
3, 706
1, 582
997
4,857
1,302
6, 564
1,495
1,371
4,115
3,706
1,582
997
4,857
1,302
6,564
26,309
27,508
104,127
115,013
29,132
23,570
112,639
32,890
205,899
14. 26
13. 35
9.69
10. 65
17.12
12.00
11.41
13. 35
9.36
65.16
65. 01
61.80
62.09
68.98
63. 03
64.13
65.88
60. 47
74, 088
25,989
25,989
677,087
10. 94
63. 03
560
4
191
21,387
13,237
131,571
6,958
6,319
3,364
9,825
1,452
2,024
8, 712
5, 994
74,877
1,786
2,192
1, 769
3,617
396
915
8, 712
5,994
74,877
1,786
2,192
1,769
3,617
396
915
195,199
149,960
1,193,158
33, 736
36, 794
19,343
69,470
10,034
23,330
10. 96
8. 83
11.03
20.62
17.17
17.39
14.14
14. 47
8.68
65. 87
68.42
67.43
63.26
60. 87
60.80
69.63
73. 96
68.39
150, 962
12,698
196,137
100,258
100,258
1, 731,024
11.33
67.22
1, 787,492
164
704, 728
28
36,481
1,046, 283
136
99
450,817
13
450, 916
13
10,694,518
1,021
9.78
13.32
64.44
75.75
1, 787,656
704, 756
36,481
1,046, 419
99
450,830
450,929
10, 695,539
9.78
64.45
5,158
63,971
72, 710
457, 758
451,980
20
38,204
24, 768
221,107
166,751
38,204
24, 788
221,107
166,830
800,972
670,165
4, 635,298
4, 589,104
7.99
10. 85
9.88
9.85
55.08
48. 51
62. 39
69.46
54,299
26, 535
43,447
12,759
33,593
20,361
8,149
16, 653
4,496
15,064
836
33,938
17,647
23, 702
8,263
17,693
485,952
193,999
4,667
287,286
5,813
6,460
16,483
18,842
7,408
4,659
23,240
7,488
32,622
2,007
2, 578
6, 398
6, 588
2,416
1,830
9,097
3,097
12, 573
55
210
784
3, 751
3,672
10,085
12,254
4,988
2,829
12,853
4,391
19,265
123,015
46, 584
2,343
40,612
26, 544
240,892
10,390
10,996
5,907
18,260
2,291
3,905
19,225
10,402
100,851
3,094
4,447
2, 543
7, 875
835
1, 690
359, 797
112,851
127, 658
848,376
698, 771
43,722
54,948
369,870
236,216
739
3,092
4
1,290
2, 905
8,470
338
230
20, 748
10,575
2
23
79
i Represents aggregate book value of capital stock, surplus, undivided profits, reserves, and retirement fund for preferred stock.
for the June and December call dates in the current year and the December call date in the previous year.
Figures are averages of amounts reported
Sd
tet
•d
o
W
H
O
H
H
H
o
O
•d
H3
W
O
&
H
W
O
3
M
O
d
w
w
a
o
Ht
to
o
CO
to
TABLE NO.
26.—Earnings, expenses, and dividends of national banks, by Federal Reserve districts, /or
year ended Dec. 81, 1960
o
i
[Dollarfiguresin thousands]
District
No. 1
Earnings from current operations:
Interest and dividends on:
U.S. Government obligations.
Other securitiesInterest and discount on loans
Service charges and other fees on
banks' loans
Service charges on deposit accounts.
Other service charges, commissions, fees, and collection and
exchange charges
Trust department
Other current earnings
Total earnings from current operations
Current operating expenses:
Salaries and wages:
Officers
Employees other than officers
Number of officers *
Number of employees other
than officers a
Fees paid to directors and members of executive, discount, and
advisory committees
Interest on time deposits (including savings deposits)
Interest and discount on borrowed
money..
Taxes other than on net income. .
Recurring depreciation on banking house, furniture and fixtures.
Other current operating expensesTotal current operating expensesNet earnings from current operations
District
No. 21
District
No. 3
District
No. 4
District
No. 6
District
No. 6
District
No. 7
District
No. 8
District
No. 9
District
No. 10
District
No. 11
District
No. 12
Total
w
H
hj
O
w
41,770
11,435
193,181
102,284
47,558
455,749
44,345
18,420
164,582
92,605
30,395
291,628
50,265
12,545
167,710
76,099
21,434
266,665
184,315
53,314
541,158
36,991
11,514
120,131
35,680
11,199
130,074
64,700
16,167
199,707
68,842
22,350
262,750
2,503
18,891
7,803
35,701
1,388
10,480
3,427
21,454
2,221
16,588
4,420
27,881
7,043
37,415
1,184
8,342
2,206
12,855
1,996
20,040
2,630
17,914
20,269
100,168
57,090
327,719
9,274
14,210
8,825
10,302
35,039
32,091
2,590
6,130
5,358
4,781
23,519
12,765
5,181
9,142
5,595
9,522
11,192
13,478
13,676
39,101
20,002
3,068
3,180
4,295
6,690
6,538
5,099
4,452
8,748
10,252
5,667
8,853
19,647
22,298
34,947
23,388
97,501
200,599
160,795
300,089
726,527
253,293
480,574
269,247
430,691
896,024
188,705
210,341
326,062
25,695
56,752
2,6*6
49,809
123,892
4,518
21,506
40,540
2,782
37,468
77,172
8,606
26,842
46,531
8,041
39,733
75,397
4,070
67,022
151,181
5,888
19,399
29,074
2,802
21,717
33,415
2,894
38,835
51,182
4,286
42,463
57,588
4,357
97,013
240,377
10,847
487,502
983,101
60,181
16,912
SI, 998
12,856
20,684
15,184
28,021
40,680
9,608
10,184
15,700
17,012
60,298
273,477
1,587
2,680
3,052
2,155
1,926
2,316
3,346
1,675
1,248
2,201
2,258
1,353
25,797
28,750
129,516
69,175
85,896
40,137
60,784
153,525
26,018
34,477
37,260
48,567
274,600
978,705
1,404
7,421
3,582
14,168
11,206
23,177
1,135
5,589
2,985
4,059
2,591
6,349
5,974
20,784
8,241
33,335
49,904
163,688
23,144
172,467
116,270
904,291
941,697
143,801
307,682
51,351
869,162 3,662,497
408,653 1,265,374 5,755,580
o
8
g
**
H
W
O
P
a
w
o
a
1,734
7,362
7,751
14,025
1,347
8,114
1,954
19,305
6,405
52,649
14,122
122,381
6,525
37,763
9,635
69,222
6,398
43,203
10,937
77,055
13,414
136,718
3,621
33,639
4,404
36,940
7,441
56,251
10,224
66,003
180,934
464,176
178,022
302,807
173,862
283,972
559,589
120,150
139,245
202,110
253,861
850,530 3,709,258
119,155
262,351
75,271
177,767
95,385
146,719
336,435
68,555
71,096
123,952
154,792
414,844 2,046,322
3
W
a
i
Recoveries, transfers from valuation
reserves and profits:
On securities:
Recoveries
Transfers from valuation re-
431
111
2,750
17
68
188
2,481
87
573
151
299
374
7,530
5,850
195
1,784
12,902
993
2,409
446
873
719
33,258
664
6,423
18,101
13,566
5,194
23,188
7,900
19,201
34,047
10,633
3,434
10,248
4,060
22,226
171,798
467
433
454
507
325
501
557
265
882
1,239
1,561
1,377
8,558
303
6,646
21,149
24,349
930
926
9,057
1,885
341
805
530
3,441
3,726
2,800
209
626
163
911
883
992
498
2,426
187
4,723
37,976
50,530
Total recoveries, transfers from
valuation reserves and profits.
26,602
66,031
10,254
40,504
9,634
25,645
56,513
12,813
8,372
13,959
9,717
29,606
309,650
Losses, chargeoffs, and transfers to
valuation reserves:
On securities:
Losses and chargeoffs.
Transfers to valuationreserves.
On loans:
Losses and chargeoffs.
16,666
3,480
19,566
14,309
8,678
624
6,023
21,671
5,779
3,552
5,510
7,146
29,598
19,915
2.446
6,848
3,429
935
3,796
3,602
3,703
1,397
18,056
18,515
122,139
101,994
2,266
7,315
10,343
932
82,532
6,065
561
9,411
3,019
859
31,016
3,471
572
9,225
2,556
1,509
20,509
5,003
1,214
34,734
8,649
635
4,271
3,167
878
4,885
1,286
2,207
8,525
5,080
2,805
15,254
5,347
1,861
37,244
8,977
16,299
264,921
62,963
38,959
123,404
22,293
63,040
21,684
39,677
94,110
17,367
11,413
23,210
28,506
84,653
568,316
Profits on securities sold or
redeemed.
On loans:
RecoveriesTransfers from valuation reAll other.
All other.
Total losses, chargeoffs, and
transfers to valuation reservesProfits before Income taxes.
Taxes on net income:
Federal
State
Total taxes on net income-
359,797 1,787,656
106,798
204,978
63,232
155,231
83,335
132,687
298,838
64,001
68,055
114,701
136,003
42,865
7,570
72,817
7,878
20,548
1
62,710
34,512
490
52,551
834
116,659
722
26,421
665
24,833
3,378
44,885
2,233
54,993
12
150,962
12,698
704,756
36,481
50,435
80,695
20,549
62,710
35,002
53,385
117,381
27,086
28,211
47,118
55,005
163,660
741,237
80,998
196,137 1,046,419
Net profits before dividends
56,363
124,283
42,683
92,521
48,333
79,302
181,457
36,915
39,844
67,583
Cash dividends declared:
On common stock
On preferred stock
27,657
42
60,451
22
21,195
2
38,983
21,974
25,855
10
63,292
23
15, 226
15,862
22, 709
37,368
100,258
450,830
99
27,699
60,473
21,197
38,983
21,974
25,865
63,315
15,226
15,862
22,709
37,368
100,258
450,929
Total cash dividends declared
W
H
•d
O
§
o
0
1
•x*
W
I
fe)
w
o
A
w
w
w
See footnotes at end of table.
to
to
H-i
to
TABLE NO.
26.—Earnings, expenses,
and dividends of national banks, by Federal Reserve districts, for the year ended Dec. 81,
1960—Con.
District
No. 1
Memoranda items:
Recoveries credited to valuation
reserves (not included in recoveries above):
On securities
On loans
Losses charged to valuation reserves (not included in losses
above):
On securities
On loans
Number of banks 2
Loans, gross
Securities
Capital stock (par value)
Capital accounts
Ratios:
To gross earnings:
Interest and dividends on
securities
Interest and discount on loans.
Service charges on deposit
accounts..All other current earnings
Total gross earnings
Salaries, wages, and fees
Interest on time deposits
All other current expenses
Total current expenses
Net current earnings
District
No. 2 i
District
No. 3
District
No. 4
District
No. 5
District
No. 6
W
^H
O
[Dollar figures in thousands]
District
No. 7
District
No. 8
District
No. 9
District
No. 10
District
No. 11
District
No. 12
Total
W
O
H
9,192
3,818
35
3,974
1,319
1,287
2,703
594
1,345
109
2,971
1,073
7,144
557
1,620
22
1,070
154
3,315
524
3,579
121
10,090
13,668
42,948
g
524
5,182
2,508
45,156
2,379
3,823
8,166
20,739
148
4,194
63
13,289
4,051
21,298
941
3,476
59
3,039
780
7,005
394
12,167
12,220
26,016
32,233
165,384
233
337
427
382
315
349
582
319
346
620
512
108
4,530
K
ha
H
50
O
F
3,318,606 8,406, 628 2,861,331 5, 266,780 2,801,759 4,343,786 9,887,949 2,119,236 2,170,122 3,377,980 4,571, 757 14,136,778
1,795,330 4,972,174 2,136,958 3,916,076 2,144, 618 3,243,169 8,023,104 1,631,139 1,510, 852 2, 627, 659 3,034.788 7,103,028
523,616
137,567
552,800
196,689
318,942
159,164
143,842
304,243
239,446
112,767
111, 628
458,554
524,221
657,848
859,837 1,731,024
603,121 1,422,361
547,637 1,067,656
777,066 1,736,896
406,096
361, 776
63,262,712
42,138,895
3, 259, 258
10, 695,539
Percent
17.73
64.37
Percent
20.63
62.73
Percent
24.78
64.98
Percent
25.59
60.68
Percent
23.33
62.29
Percent
22.65
61.92
Percent
26.52
60.39
Percent
25.70
63.66
Percent
22.29
61.84
Percent
24.80
61.25
Percent
22.32
64.30
Percent
15.42
68.69
Percent
21.71
63.63
6.30
11.60
4.91
11.73
4.14
6.10
4.47
9.26
6.16
8.22
6.47
8.96
4.18
8.91
4.42
6.22
6.11
9.76
6.15
7.80
4.38
9.00
7.92
7.97
5.69
8.97
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
28.00
9.58
22.71
24.28
17.83
21.78
25.70
23.36
21.22
24.30
17.88
20.83
27.96
14.91
21.70
27.27
14.11
24.55
24.73
17.13
20.59
26.57
13.79
23.31
26.80
16.39
23.01
28.28
11.43
22.28
25.04
11.88
25.20
26.77
21.70
18.75
26.00
17.01
21.44
60.29
63.89
70.28
63.01
64.57
65.93
62.45
63.67
66.20
61.99
62.12
67.22
64.45
39.71
36.11
29.72
36.99
35.43
34.07
37.55
36.33
33.80
38.01
37.88
32.78
35.55
t*
H
W
O
H
O
A
w
w
H
§
To gross loans: Interest and discount on loans
To securities: Interest and dividends on securities
To capital stock (par value):
Net current earnings.
Net profits before dividends. _
Cash dividends—
To capital accounts:
Net current earnings.
Net profits before dividends. .
Cash dividends-
5.82
5. 42
5.75
5. 54
5.99
6.14
5. 47
5. 67
5. 99
5.91
5. 75
6.15
2.96
3.01
2.94
3.14
2.93
3.01
2.96
2.97
3.10
3.08
3.00
2. 75
5.79
2. 96
74.86
35. 41
17.40
57. 21
27.10
13.19
52.33
29.67
14.74
58. 43
30.41
12.81
69. 34
35.13
15. 97
61.27
33.12
10.80
60.86
32.83
11.45
60.79
32. 74
13. 50
63. 69
35. 69
14. 21
63.02
34.36
11.55
48. 53
25.40
11.72
79. 23
37.46
19.15
62. 78
32.11
13.84
19.76
9.35
4. 59
18.44
8.74
4.25
13. 74
7.79
3. 87
16.65
8.67
3. 65
18.20
9.22
4.19
18.88
10.21
3.33
19. 37
10.45
3. 65
16. 88
9.09
3.75
19. 65
11.01
4.38
18. 84
10.27
3.45
18.00
9.42
4.35
23.97
11.33
5. 79
19.13
9. 78
4. 22
1 Includes 1 member bank in the Virgin Islands of the United States.
2 Number at end of year. Remaining figures include earnings, expenses, etc., of those banks which were in operation a part of the year but were inactive at the close of the
year.
NOTE—The figures of loans, securities, capital stock, and capital accounts are averages of amounts reported for the June and December call dates in the current year and
the December call date in the previous year.
w
H
hj
O
W
O
H
W
H
O
O
hj
H
W
O
t"1
f
H
W
O
fel
o
d
w
w
H
9
to
t—1
CO
TABLE N O .
to
27.—Earnings, expenses, and dividends of national banks, by size of banks, for the year ended Dec. 31, 1960
i—*
TOTAL UNITED STATES A N D POSSESSIONS
[Dollarfiguresin thousands]
Banks operating throughout entire year with deposits on Dec. 31,1960, of—
Less than $500,000
$500,000
to
$750,000
Number of banks.
Total deposits.
Capital stock (par value).
Capital accounts
Earnings from current operations:
Interest and dividends on:
U.S. Government obligations..
Other securities
Interest and discount on loans
Service charges and other fees on
banks' loans
Service charges on deposit accounts.
Other service charges, commissions,
fees, and collections and exchange
charges
Trust department
Other current earnings
11
37
63
4,624
305
855
23,391
1,040
3,325
56,408
2,075
7,804
45
3
171
Total earnings from current operations
Current operating expenses:
Salaries and wages:
OfficersEmployees other than officers..
Fees paid to directors and members
of executive, discount, and advisory committees
Interest on time deposits (including
savings deposits)
Interest and discount on borrowed
money..
Taxes other than on net income
Recurring depreciation on banking
house, furniture, and fixtures
Other current operating expensesTotal current operating expenses .
$750,000 $1,000,000 $2,000,000 $5,000,000 $10,000,000 $25,000,000 $50,000,000 $100,000,000 $500,000,000
to
to
to
to
or more
to
to
to
to
$1,000,000 $2,000,000 $5,000,000 $10,000,000 $25,000,000 $50,000,000 $100,000,000 $500,000,000
276
134
149
742,202 4,762,993 7,668,029 12,396,268
309,366
24,395
128,856
193,501
94,365
503,209
725,953 1,075,819
i, 511,698
245,681
779,630
9,209,164
244,093
752,054
32,218,361
831,246
2,689,373
1,093
31
Total
4,485
47,898,769 124,491,907
1,340,824
3,321,382
4,418,566 11,050,953
2,116
21,011
52,715
15,434
130,716
79,241
25,761
210,162
119,710
38,033
342,583
88,481
25,246
264,403
78,162
23,597
252,460
219,638
66,415
289,017
109,360
1,524,096
306,152
3,646,704
5
58
4
152
132
1,766
716
12,903
1,980
23,910
4,761
43,714
3,774
30,764
3,987
26,173
14,276
73,603
27,132
112,865
56,768
325,920
882
57
489
4,425
360
3,499
6,539
1,643
5,729
10,834
8,112
11,935
7,237
10,706
12,824
6,332
13,573
11,719
21,509
77,623
50,230
39,214
87,977
63,755
97,097
200,051
160,232
1,157
2,790
35,442
220,768
354,965
579,682
443,435
416,003
1,421,954
2,253,416
5,729,860
104
705
214
7,318
3,533
36,084
26,809
46,157
50,258
63,049
92,768
43,587
75,558
37,831
72,037
111, 799
261,979
137,639
395,342
484,586
978,623
702
4,164
4,813
5,385
2,683
2,009
3,904
1,854
25,606
5,875
42,052
72,929
116,338
85,035
73,518
198,860
379,436
974,529
48
1,064
343
6,281
567
10,071
16,090
1,226
1,680
12,533
2,280
12,347
13,384
42,149
30,222
62,437
49,758
163,095
115,631
899,034
379
18
195
58
431
739
5,195
6,040
32,696
9,883
54,779
16,486
96,336
12,376
75,888
9,872
72,659
27,988
254,776
32,168
306,033
805
1,929
24,474
154,469
249,457
407,678
309,340
282,553
914,839
1,345,131
w
O
S
H
o
707
147
1,675
94
o
O
231
40
767
26
187
813
479
W
*SJ
Ed
o
f
tr4
H
Ed
o
a
a
aEd
Ed
a
3
Net earnings from current operations-
352
10,968
66,299
65
314
376
1,055
364
90
678
2,339
198
2,668
6,547
555
2,031
89
118
322
753
1,025
37
105,
172,004
134,095
2,038,998
133,450
507,115
908,285
4,283
7,521
1,719
1,586
7,618
19,155
33,185
16,438
17,566
13,882
59,958
53,693
170,974
1,362
1,364
511
613
1,516
8,407
806
1,292
724
2,187
552
2,467
1.297
2.391
3,122
11,634
31,058
29,577
37,969
50,431
6,178
11,060
24,107
23,179
19,807
83,677
139,282
308,487
255
1
2,976
337
5,949
1,017
10,724
3,983
8,492
4,125
5,162
21,582
41,375
62,386
45.738
120,837
101,738
1
144
36
7
1,045
509
267
3,726
5,879
2,440
2,648
11,677
4,630
2,200
21,109
6,659
745
17,022
4,319
615
17,754
5,246
856
47,133
14,647
3,550
143,588
24,270
15,618
264,717
62,491
o
224
2,077
15,358
25,921
44,675
34,703
37,210
125,593
279,532
565,401
fei
w
744
9,916
57,119
90,647
151,436
122,571
116,047
465,199
768,035
1,782,084
187
12
2,305
104
14,236
779
24,706
1,101
48,809
1,909
43,488
1,214
44,369
1,616
203,423
7,841
321,353
21,769
702,966
36,348
19
199
2,409
15,015
25,807
50,718
44,702
45,985
211,264
343,122
739,314
Net profits before dividends
37
545
7, 507
42,104
64,840
100,718
77,8
70,062
253,935
424,913
1,042,770
Gash dividends declared:
On common stock
On preferred stock...
17
2,643
14,900
7
22,341
3
34, 575
17
27,666
52
27,619
122,407
197,138
449,616
79
2,643
14,907
22,344
34, 592
27,718
27,619
122,407
197,138
449,695
Recoveries, transfers from valuation
reserves, and profits:
On securities:
Recoveries
Transfers from valuation reserves
Profits on securities sold or
redeemed
On loans:
Recoveries
Transfers from valuation re-
861
18
All otherTotal recoveries, transfers from
valuation reserves, and profits-
59
losses, chargeoffs, and transfers to
valuation reserves:
On securities:
Losses and chargeoffs
Transfers to valuation reserves..
On loans:
Losses and chargeoffs.
Transfers to valuation reserves..
All other
97
56
Taxes on net income:
Federal
State
Total taxes on net income..
Total cash dividends declared
o
o
0
Total losses, chargeoffs, and transfers to valuation reserves
Profits before income taxes.
tel
^
17
224
w
£
o
a
a
d
w
w
w
a
to
l—l
Cri
TABLE N o . 27.—Earnings, expenses, a n d dividends of national banks, by size of banks, /or
I/ear ended Dec. 81,
1960—Continued
tO
h-A
T O T A L U N I T E D S T A T E S A N D POSSESSIONS
[Dollar figures in thousands]
Banks operating throughout entire year with deposits on Dec. 31, 1960, of—
Less than $500,000
to
$600,000
$750,000
Memoranda items:
Recoveries credited to valuation
reserves (not included in recoveries above):
On securities
On loans „ „ . , . Losses charged to valuation reserves
(not included in losses above):
On securities
On loans
...
Average per bank:
Gross earnings from current operations
Current operating expenses
Net earnings from current operations
Net profits before dividends.
Per $100 of deposits:
Net earnings from current operations
Net profits before dividends
Per $100 of capital accounts:
Net earnings from current operations
Net profits before dividends.
Cash dividends
Number of officers at end of period
Number of employees other than officers
at end of period
$750,000 $1,000,000 $2,000,000 $5,000,000 $10,000,000 $25,000,000 $50,000,000 $100,000,000 $500,000,000
to
to
to
to
or more
to
to
to
to
$1,000,000 $2,000,000 $5,000,000 $10,000,000 $25,000,000 $50,000,000 $100,000,000 $500,000,000
w
O
W
9
3
241
4
1.977
182
3, 451
336
4,921
503
3, 328
567
3,578
1, 942
7, 906
10,134
17,530
13,668
42,944
144
7, 988
357
13, 683
773
8,787
1,374
10,094
6,385
27,459
23,116
92,343
32,233
165,352
1
3
32
504
84
4,458
23
17
31
22
44
30
74
51
158
111
325
228
713
501
1,607
1,121
3,105
2,109
9, 543
6,140
72, 691
43,391
1,278
823
6
3
9
6
14
9
23
16
47
30
97
59
212
124
486
282
996
523
3,403
1,704
29,300
13,707
455
233
1.32
.80
1.50
1.03
1.53
.97
1.48
1.01
1.39
.88
1.38
.85
1.39
.81
1.41
.82
1.45
.76
1.57
.79
1.90
.89
1.64
.84
7.13
4.33
1.99
10. 59
7.22
2. 59
11.03
6.98
2. 87
11.62
7.96
2.80
13.18
8.37
2. 96
14.53
8.93
3.08
15. 99
9.36
3.22
17.20
9.99
3.56
17. 74
9.32
3.67
18. 86
9.44
4.55
20. 56
9.62
4.46
18.45
9.44
4.07
27
89
166
1,359
5,435
5,867
6,958
4,289
3,465
9,752
12,446
49,853
15
54
129
1,504
9,690
16, 407
29,107
22,955
21, 521
73,485
97,351
272,218
NOTE.—The deposits, capital stock, and capital accounts shown in this table are as of end of period.
surplus, undivided profits, reserves and retirement fund for preferred stock.
o
Total
Capital accounts represents the aggregate book value of capital stock,
H
o
O
•a
§
s
H
S3
O
3
S3
S3
fed
O
Kj
REPORT
TABLE N O .
OF
THE
COMPTROLLER
OF
THE
217
CURRENCY
28.—Earnings, expenses, and dividends of national
Dec. 81, 1958-60
banks, years
ended
[Dollar figures in thousands]
1959
1958
4,585
4,542
4,530
$2,875,117
9,412,557
$3,066,632
10,003,852
$3,259,258
10,695,539
Number of banks 1
Capital stock, par value 2
Capital accounts2
-
1960
Amount Percent Amount Percent Amount Percent
to total
to total
to total
Earnings from current operations:
Interest and dividends on:
$839,145
U.S. Government obligations
267,583
Other securities
2,739,235
Interest and discount on loans
Service charges and other fees on
50,945
banks' loans
269,606
Service charges on deposit accounts.
Other service charges, commissions,
fees, and collection and exchange
80,185
charges
141,473
Trust department
150,771
Other current earnings
T o t a l earnings from
operations
current
- 4,538,943
Current operating expenses:
Salaries and wages:
Officers
Employees other than officers
413,130
828,643
18.49 $923,611
5.89
291,174
60.35 3,187,398
Total current operating expenses
Net earnings from current operations
Recoveries, transfers from valuation reserves, and profits:
On securities:
Recoveries
Transfers from valuation reserves .
Profits on securities sold or redeemed
n loans:
Recoveries
Transfers from valuation reserves _
All other
Total recoveries, transfers from
valuation reserves, and profits
See footnotes at end of table.
16.36
5.35
63.63
1.12
5.94
61,580
294, 758
1.19
5.69
57,090
327,719
.99
5.69
1.77
3.12
3.32
90,949
182,016
151,583
1.76
3.51
2.92
97,501
200,599
160,795
1.70
3.49
2.79
100.00 5,755,580
100.00
100.00 5,183,069
13.91
27.90
45,254
Number of officers 1
Number of employees other than
242,812
officers 1
Fees paid to directors and members
of executive, discount, and advisory
committeesInterest on time deposits (including
savings deposits)
Interest and discount on borrowed
money
Taxes other than on net income
Recurring depreciation on banking
house, furniture, and fixtures.
Other current operating expenses
17.82 $941,697
5.62
307,682
61.49 3,662,497
449,125
898,917
13.45
26.93
487,502
983,101
47,825
50,181
258,746
278,477
13.14
26.50
22,108
.74
23,790
.71
25,797
.70
762,319
25.67
866,701
25.96
978,705
26.39
12,835
125,872
.43
4.24
42,437
143,417
1.27
4.30
49,904
163,688
1.35
4.41
91,187
714,101
3.07
24.04
104,701
809,161
3.14
24.24
116,270
904,291
3.13
24.38
100.00
2,970,195
100.00 3,338,249
100.00 3, 709,258
1,568,748
1,844,820
2,046,322
5,526
33,078
1.20
7.17
15,741
69,682
9.23
40.87
7,530
33,258
2.43
10.74
353,072
76.58
24,799
14.55
171,798
55.48
11,273
27,554
30,566
2.44
5.98
6.63
9,367
23,650
27,268
5.49
13.87
15.99
8, 558
37,976
50,530
2.76
12.27
16.32
461,069
100.00
170,507
100.00
309,650
100.00
REPORT
TABLE NO.
OF
THE
COMPTROLLER
OF
THE
C U R R E N C Y 218
28.—Earnings, expenses, and dividends of national banks, years ended
Dec. 81, 1958-60— Continued
[Dollar figures in thousands]
1958
Losses, chargeoffs, and transfers to valuation reserves:
On securities:
Losses and chargeoffs
Transfers to valuation reserves
On loans:
Losses and chargeoffs
Transfers to valuation reserves
All other
Total losses, chargeoffs, and transfers to valuation reserves
Profits before income taxes-.Taxes on net income:
Federal. , ,
State
Total taxes O'n net income
Net profits before dividends ...
Cash dividends declared:
On preferred stock
On common stock
...
_._
Total cash dividends declared
Memoranda items:
Recoveries credited to valuation reserves (not included in recoveries
above):
On securities
...
On loans
Losses charged to valuation reserves
(not included in losses above):
On securities
On loans
Stock dividends (increases in capital
stock)
—
—
Ratios to gross earnings:
Salaries, wages, and fees
Interest on time deposits
All other current expenses
1959
1960
Amount
Percent
to total
Amount
Percent
to total
Amount
54,845
159,713
12.18
35.46
361,631
96,654
51.04
13.64
122,139
101,994
21.49
17.95
11,583
157,673
66,612
2.57
35.00
14.79
11,090
184,273
54,871
1.57
26.01
7.74
16,299
264,921
62,963
2.87
46.61
11.08
450,426
100.00
708,519
100.00
568,316
100.00
1,579,391
1,306,808
1,787,656
658,615
31,656
482,489
24,008
704,756
36,481
690,271
506,497
741,237
889,120
800,311
1,046,419
169
392,822
165
422,703
99
450,830
392,991
422,868
450,929
6,876
38,932
2,603
45,373
13,668
42,948
12,610
76,795
121,895
69,417
32,233
165,384
108,506
113,417
100,705
Per cent
27. 85
16. 79
20. 80
Per cent
26. 47
16. 72
21. 22
Percent
to total
Per cent
26. 00
17. 01
21. 44
65.44
64.41
64.45
Net current earnings
34.56
35.59
35.55
Ratio of cash dividends to capital stock
(par value)
Ratio of cash dividends to capital accounts.
13.67
4.18
13.79
4.23
13.84
4.22
Total current expenses
* Number at end of period. Remaining figures include earnings, expenses, etc., of those banks which
were in operation a part of the year but were inactive at the close of the year.
* Figures are averages of amounts reported for the June and December call dates in the yea*- indicated
and the December call date in the previous year.
NOTE.—Earnings and dividends figures for 1869 to 1937 were published for the years ended August 31
or June 39 and appear in the table beginning on page 96 of the Comptroller's Annual Report for 1937. Similar
figures for 1938 through 1941 appear in table 26 on page 136 of the 1941 report. Calendar year figures are
available, beginning with the year 1917, and are published in the Comptroller's reports as follows: 1938,
p. 100; 1940, p. 17; 1942, p. 34; 1943, p. 30; 1946, p. 98; 1949, p. 100; 1951, p. 118; 1954, p. 142; and 1957, p. 152.
TABLE N O . 2 9 . — N u m b e r
of national banks, capital stock, capital funds, net profits, dividends, and ratios, years ended Dec. 31, 1930-60
[Dollarfiguresin thousands. Figures for previous years published in report for 1938, p. 115]
Capital stock (par value) 1
Number
of banks
7,038
6,373
6,016
»5,159
* 5,467
6,392
6,331
6,266
5,230
5,193
5,150
6,123
6,087
5,046
5,031
5,023
5,013
5,011
4,997
4,981
4,965
4,946
4,916
4,864
4,796
4,700
4,659
4,627
4,585
4,542
4,530
Preferred
$92,469
349,470
610,611
447,501
305,842
267,496
241,075
204,244
182,056
156,739
135,713
110,597
80,672
53,202
32,529
25,128
20,979
16,079
12,032
6,862
6,512
4,797
4,167
3,944
3,786
3,332
3,225
2,650
Common
$1,724,028
1,680,780
1,597,037
1,507,834
1,359,573
1,280,813
1,259,027
1,285,946
1,310,243
1,320,446
1,328,071
1,341,398
1,354,384
1,372,457
1,440,519
1,536,212
1,646,631
1,736,676
1,779,362
1,863,373
1,949,898
2,046,018
2,171,026
2,258,234
2,381,429
2,456,454
2,558, 111
2,713,145
2,871,785
3,063,407
3,257,208
Total
$1,724,028
1,680,780
1,597,037
1,600,303
1,709,043
1,791,324
1,706,528
1,591,788
1,577,738
1,561,521
1,532,315
1,523,454
1,511,123
1,508,170
1.551.116
1,616,884
1,699,833
1,769,205
1,804,490
1,884,352
1,965,977
2,058,050
2,177,888
2,263,746
2,386,226
2,460,621
2,562,055
2,716,931
2.875.117
3,066,632
3,259,258
Cash dividends
Capital
accounts 1
$3,919,950
3,753,412
3,323,536
2,981,678
2,982,008
3,084,092
3,143,029
3,206,194
3.281.819
3,380,749
3,463,862
3,596,865
3,684,882
3,860,443
4,114,972
4.467.718
4,893,038
5,293,267
5,545,993
5,811,044
6,152,799
6,506,378
6,875,134
7.235.820
7,739,553
7.924.719
8,220,620
8,769,839
9,412,557
10,003,852
10,695,539
* Averages of amounts from reports of condition made in each year.
8 Deficit.
8 Licensed banks, i.e., those operating on an unrestricted basis.
Net profits before
dividends
$158,411
* 54,550
8164,737
8 286,116
8153,451
158,491
313,826
228,021
198,649
251,576
241,465
269,295
243,343
350,457
411,844
490,133
494,898
452,983
423,757
474,881
537,610
506,695
561,481
573,287
741,065
643,149
647,141
729,857
889,120
800,311
1,046,419
On
preferred
stock
$558
10,103
18,862
18,166
11,532
9,378
8,911
8,175
7,816
6,683
6,158
5,296
4,131
2,427
1,372
1,304
1,100
712
615
400
332
264
203
177
171
169
165
99
On
common
stock
$211,272
193,196
135,381
71,106
80,915
94,377
101,850
110,231
113,347
122,267
125,174
124,805
121,177
125,357
139,012
151,525
167.702
182,147
192,603
203,644
228,792
247,230
258,663
274,884
299,841
309,532
329,777
363,699
392,822
422.703
450,830
Batios
Cash dividends on
preferred
stock to
preferred
capital
Percent
0.60
2.89
3.69
4.06
3.77
3.51
3.70
4.00
4.29
4.26
4.54
4.79
6.12
4.56
4.22
5.19
5.24
4.43
5.11
5.83
6.02
5.50
4.87
4.49
4.52
5.07
5.12
4.83
Cash dividends on
common
stock to
common
capital
Total cash
dividends
to capital
accounts
Percent
12.25
11.49
8.48
4.72
5.95
7.37
8.09
8.57
8.65
9.26
9.43
9.30
8.95
9.13
9.65
9.86
10.18
10.49
10.82
10.93
11.73
12.08
11.91
12.17
12.59
12.60
12.89
13.41
13.68
13.80
13.84
Percent
5.39
5.15
4.07
2.40
3.05
3.67
3.82
3.80
3.74
3.88
3.85
3.69
3.47
3.41
3.51
3.48
3.48
3.47
3.50
3.52
3.73
3.81
3.77
3.80
3.88
3.91
4.01
4.15
4.18
4.23
4.22
Net profits before dividends
To capital
stock
Percent
9.19
8 3.25
8 10.32
8 17.88
8 8.98
8.85
18.39
14.32
12.59
16.11
15.76
17.68
16.10
23.24
26.55
30.31
29.11
25.60
23.48
25.20
27.35
24.62
25.78
25.32
31.06
26.14
25.26
26.86
30.92
26.10
32.11
To capital
accounts
Percent
4.04
8 1.45
8 4.96
8 9.60
8 5.16
5.14
9.98
7.11
6.05
7.44
6.97
7.49
6.60
9.08
10.01
10.97
10.11
8.56
7.64
8.17
8.74
7.79
8.17
7.92
fcO
h-i
CO
REPORT
TABLE
OF T H E
COMPTROLLER
OF T H E
C U R R E N C Y 220
N O . 3 0 . — T o t a l loans of national banks, losses and recoveries on loans,
and ratio of net losses or recoveries to loans, by calendar years, 1941-60
[Dollar figures in thousands]
Year
Total loans
end of year
Losses and
chargeoffs
194 1
1942
1943
194 4
1945
194 6
194 7
1948
1949
1950
195 1
1952
195 3
195 4
1955...
195 6
195 7
1958...
195 9
1960
11,751,792
10,200,798
10,133,532
11,497,802
13,948,042
17,309,767
21,480,457
23,818,513
23,928,293
29,277,480
32,423, 777
36,119,673
37, 944,146
39,827,678
43,559,726
48,248,332
50,502,277
52, 796,224
59,961,989
63,693,668
51,989
43,134
43,101
41,039
29,652
44,520
73,542
1 50,482
i 59, 482
i 45,970
i 53,940
i 52,322
i 68,533
1 67,198
i 68,951
i 78,355
i 74,437
i 88,378
i 80,507
U81,683
Average for 1941-60.
31,921,198
64,861
Recoveries
Net:
or recoveries ( + )
43.658
40.659
52,900
50,348
37,392
41,313
43,629
2 31,133
2 26,283
2 31,525
2 31,832
2 32,996
2 36,332
2 41,524
2 39,473
2 37,349
2 39,009
2 50,205
2 54, 740
2 51,506
8,331
2,475
+9,799
+9,309
+7,740
3,207
29,913
19,349
33,199
14,445
22,108
19,326
32,201
25, 674
29,478
41,006
35,428
38,173
25, 767
130,177
40,690
24,171
Ratio of
losses (or recoveries + )
to loans
Percent
0.07
.02
+.10
+.08
+.06
.02
.14
.08
.14
.05
.07
.05
.08
.06
.07
.08
.07
.07
.04
.20
.08
1 Excludes transfers to valuation reserves.
2 Excludes transfers from valuation reserves.
NOTE.—For prior figures beginning with the year 1928 see Annual Report for 1947, p. 100.
Total securities of national banks, losses and recoveries on securities
and ratio of net losses or recoveries to securities, by calendar years, 1941-60
TABLE N o . 3 1 . —
[Dollar figures in thousands]
Year
1941
1942
1943
1944
1945
1946
1947
1948
1949
1950
1951
1952
1953
1954
1955
1956
1957
1958
1959
1960
Total securities Losses and
end of year
chargeoffs
-
Average for 1941-60.
—
-
—
Recoveries
Net losses
or recoveries ( + )
15,887,508
27,482,788
37,504,253
47,022,329
55,611,609
46,642,816
44,009,966
40,228,353
44,207,750
43,022,623
43,043,617
44,292,285
44,210,233
48,932,258
42,857,330
40,503,392
40,981,709
46,788,224
42,652,855
43,852,194
92,134
73,253
66,008
67,574
74,627
74,620
69,785
i 55,369
i 23,595
i 26,825
i 57,546
i 76,524
1119,124
i 49,469
1 152,858
i 238,997
1151,152
i 67,455
i 483,526
U54,372
48,157
36,170
59,652
50,302
54,153
33,816
25,571
2 25,264
2 7,516
211,509
2 6, 712
2 9,259
2 g, 325
2 9,286
2 15,75 £
2 13,027
2 5,806
212,402
a 18,344
2 21,198
43,977
37,083
6,356
17,272
20,474
40,804
44,214
30,105
16,079
15,316
50,834
67,265
110,799
40,183
137,100
225,970
145,346
55,053
465,182
133,174
41,986,705
108,741
23,612
85,129
i Excludes transfers to valuation reserves.
Excludes transfers from valuation reserves.
a
NOTE.—For prior figures beginning with the year 1928 see Annual Report for 1947, p. 100.
Ratio of
losses (or recoveries + )
to securities
Percent
.28
.13
.02
.04
.04
.09
.10
.07
.04
.04
.12
.15
.25
.08
.32
.56
.35
.12
1.09
.30
.20
REPORT
TABLE NO.
OF T H E
COMPTROLLER
OF T H E
CURRENCY
221
32.—Foreign branches of American national banks, Dec. Sly 1960 ]
B A N K OF AMERICA NATIONAL TRUST AND SAVINGS
ASSOCIATION, SAN FRANCISCO, CALIF.:
FIRST NATIONAL
Argentina:
Buenos Aires.
England:
London.
London (West End).
Guam:
Agana.
Japan:
Kobe.
Osaka.
Tokyo.
Yokohama.
Nigeria:
Lagos.
Okinawa:
Naha.
Philippines:
Manila.
Thailand:
Bangkok.
FIRST NATIONAL B A N K OF BOSTON, M A S S . :
Argentina:
Avellaneda.
Buenos Aires.
Buenos Aires (Alsina).
Buenos Aires (Constitution).
Buenos Aires (Once).
Rosario.
Brazil:
Campinas.
Rio de Janeiro.
Santos.
Sao Paulo.
FIRST NATIONAL CITY B A N K OF N E W Y O R K , N . Y . :
Argentina:
Buenos Aires.
Buenos Aires (Belgrano).
Buenos Aires (Flores).
Buenos Aires (Plaza Once).
Cordoba.
Lomas de Zamora.
Mendoza.
Rosario.
Bahamas:
Nassau.
Brazil:
Belo Horizonte.
Curitiba.
Porto Alegre.
Recife.
Rio de Janeiro.
Salvador.
Santos.
Sao Paulo (Avenida Ipiranga).
Sao Paulo (Praca Antonio Prado).
Canal Zone:
Balboa.
Cristobal.
Chile:
Santiago.
Valparaiso.
Colombia:
Barranquilla.
Bogota.
Cah.
Medellin.
CITY
BANK
OF N E W
N.Y.—Continued
Ecuador:
Guayaquil.
Egypt:
Cairo.
England:
London.
London (Berkeley Square Branch).
France:
Paris.
Germany:
Frankfurt am Main.
Hong Kong:
Hong Kong.
India:
Bombay.
Calcutta.
Jamaica:
Kingston.
Japan:
Nagoya.
Osaka.
Tokyo.
Yokohama.
Lebanon:
Beirut.
Malaya:
Kuala Lumpur.
Mexico:
Mexico City (Isabella Catolica).
Mexico City (Parque San Martin).
Mexico City (Republica).
Panama:
Panama City.
Panama City (La Exposicion).
Paraguay:
Asuncion.
Peru:
Lima.
Philippines:
Cebu City.
Clark Field.
Manila.
Manila (Port Area Branch).
Puerto Rico:
Arecibo.
Bayamon.
Caguas.
Mayaguez.
Mayaguez (Plaza de Colon).
Ponce.
San Juan.
San Juan (Hato Rey).
San Juan (Santurce).
Saudi Arabia:
Jeddah.
Singapore:
Singapore (Raffles Quay).
Singapore (Orchard Road).
Uruguay:
Montevideo.
Montevideo (Pocitos).
Venezuela:
Caracas.
Caracas (Miranda).
Maracaibo.
Valencia.
YORK,
i Excludes banking facilities at military establishments.
NOTE.-—Consolidated statement of the assets and liabilities of the above-named branches as of Dec. 31
1960, appears in the following table.
598026—G1
15
REPORT
TABLE NO.
OF T H E
COMPTROLLER
OF T H E
C U R R E N C Y 222
33.—Consolidated statement of assets and liabilities of foreign branches
of national banks, Dec. 31, 1960 1
[Dollar figures in thousands]
Number of branches
*
85
ASSETS
Loans and discounts, including overdrafts
Securities
Currency and coin
Balances with other banks and cash items in process of collection
Due from head office and branches
Real estate, furniture, and
fixtures
Customers' liability on account of acceptances
Other assets
Total assets
$817,
48,
32,
214,
272,
18,
203,
20,
795
511
967
439
300
663
594
241
1,628,510
LIABILITIES
Demand deposits of individuals, partnerships, and corporations
Time deposits of individuals, partnerships, and corporations
Deposits of U.S. Government
State and municipal deposits
Deposits of banks
Other deposits (certified and cashiers' checks, etc.)
550,
385,
157,
26,
252,
9,
125
388
870
139
645
810
Total deposits
1, 381, 977
Due to head office and branches
1, 261
Bills payable and rediscounts
690
Acceptances executed by or for account of reporting branches and
outstanding
203, 923
Other liabilities
40, 659
Total liabilities
1, 628, 510
CAPITAL ACCOUNTS
Undivided profits, including reserve accounts
Total liabilities and capital accounts
i Excludes figures for banking facilities at military establishments.
NOTE.—For location of foreign branches see preceding table.
1, 628, 510
REPORT OF T H E
TABLE N O .
COMPTROLLER OF T H E
CURRENCY
2 2 3
34.—Assets and liabilities of banks in the District of Columbia, by
classes, Dec. 31, 1960
[Dollar figures in thousands]
Total all
banks
Number of banks..
National
banks
Nonnational banks
12
ASSETS
Loans and discounts:
Real estate loans:
Secured by farm land
Secured by residential properties:
Insured by Federal Housing Administration—
Insured or guaranteed by Veterans' Administration
Not insured or guaranteed by F H A or V A
_
Secured by other properties
Loans to financial institutions:
Domestic commercial and foreign banks
Other
Loans to brokers and dealers in securities
Other loans for purchasing or carrying securities
Loans to farmers directly guaranteed by the Commodity Credit
Corporation
Other loans to farmers (excluding loans on real estate)..
Commercial and industrial loans (including open market paper).
Other loans to individuals for personal expenditures:
Passenger automobile installment loans
Other retail consumer installment loans
Residential repair and modernization installment loans
Other installment loans for personal expenditures
Single-payment loans for personal expenditures
All other loans
Overdrafts
-
165
137
16,879
36,523
97,364
66,295
6,405
23,625
55,049
45,627
10,474
12,898
42,315
20,668
3,008
76,049
9,889
4,322
2,508
51,290
2,673
2,137
500
24,759
7,216
2,185
825
124
234, 534
825
29
135,132
95
99,402
18,130
23,281
47,265
70, 247
21,462
320
24,825
5,482
10,746
15,368
30,151
10,075
31,344
12,648
12,535
31,897
40,096
11,387
87
Total gross loans
Less valuation reserves.
782,851
9,907
422,317
8,284
360,534
1,623
Net loans
772,944
414,033
358,911
34,168
19,877
106,615
14,983
8,372
51,774
19,185
11,505
54,841
8,574
230,668
61,472
3,490
5,824
152,534
33,898
2,992
600
2,750
78,134
27,574
498
90
465,554
270,977
194,577
465,554
39,812
13,738
2, 553
270,977
23,805
4,341
1,669
194,577
16,007
9,397
521,657
300, 792
220,865
96,917
58,491
38,426
58,186
117
1,296
25,410
41,643
95
1,160
14,293
16,543
22
136
11,117
Securities:
U.S. Government obligations, direct and guaranteed:
Direct obligations:
Treasury bills
Treasury certificates of indebtedness
Treasury notes
U.S. nonmarketable bonds (savings, investment series
A-1965, B-1975-80, and depositary bonds)
Other bonds maturing in 5 years or less
Other bonds maturing in 5 to 10 years
Other bonds maturing in 10 to 20 years
Bonds maturing after 20 years
Total
Obligations guaranteed by U.S. Government (Federal
Housing Administration debentures and Merchant
Marine bonds)
Total
—
Oblgations of States and political subdivisions..
Other bonds, notes, and debentures
Corporate stocks, including stock of Federal Reserve bank..
Total securities .
Cash, balances with other banks, including reserve balances and cash
items in process of collection:
Cash items in process of collection, including exchanges for clearing house
—
Demand balances with banks in the United States (except private banks and American branches of foreign banks)
Other balances with banks in United States
Balances with banks in foreign countries
Currency and coin
Reserve with Federal Reserve bank and approved reserve
Total cash, balances with other banks, etc.
167,801
94,361
73,440
349,727
210,043
139,684
REPORT
2 2 4
TABLE
OF T H E
COMPTROLLER
OF T H E
C U R R E N C Y 224
No. 34.—Assets and liabilities of banks in the District of Columbia, by
classes, Dec. 31, 1960—Continued
[Dollar figures in thousands]
Total all
banks
National
banks
Nonnational banks
ASSETS—continued
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 assets
Total assets..
24,146
324
16,887
263
4,253
6,018
61
4,253
3,897
1,679,069
944,139
734, S
1,032, 535
34,031
119
64,337
6, 820
591,913
21, 570
111
44,363
5,120
440,622
12,461
8
19, 974
1,700
LIABILITIES
Demand deposits:
Individuals, partnerships, and corporations
—
U.S. Government
States and political subdivisions
Banks in United States
Banks in foreign countries
Certified and cashiers' checks (including dividend checks),
letters of credit, and travelers' checks sold for cash
Total demand deposits..
Time deposits:
Individuals, partnerships, and corporations..
U.S. Government
Postal savings
States and political subdivisions
Banks in United States
Banks in foreign countries
Total time deposits.
Total deposits.
Bills payable, rediscounts, and other liabilities for borrowed money.
Mortgages or other liens on bank premises and other real estate
Other liabilities.
Total liabilities .
17,400
12,133
5,267
1,155,242
675,210
480,032
360,870
14,013
479
180,301
7,635
479
180,569
6,378
1,450
450
1,000
376,812
188,865
187,947
1,532,054
t, 075
667,979
4
26,093
10,740
4
15,353
1,558,151
874,815
683,336
32,092
62,033
21,397
5,396
19,517
35,283
11,631
2,893
12,575
26,750
9,766
2,503
944,139
734,930
49,546
50,964
CAPITAL ACCOUNTS
Capital stock: Common stock.
SurplusUndivided profits..
Reserves
Total capital accounts
51,594
120,918
Total liabilities and capital accounts
MEMORANDUM
Assets pledged or assigned to secure liabilities and for other purposes
(including notes and bills rediscounted and securities sold with
agreement to repurchase)
100,510
REPORT
OF
THE
COMPTROLLER
OF
THE
CURRENCY
225
and liabilities of all banks in the District of Columbia at
date of each call during the year ended Dec. 31, 1960
TABLE N O . 35.—Assets
[In thousands of dollars]
Loans and discounts (including overdrafts)
U.S. Government securities, direct obligations
Obligations guaranteed by U.S. Government
Obligations of States and political subdivisions
Other bonds, notes, and debentures
Corporate stocks, including stock of Federal Reserve
bank
Reserve with Federal Reserve bank and approved reserve agencies
Currency and coin
Balances with other banks, and cash items in process of
collection..
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 outstanding.
Other
Mar. 15,
1960
June 15,
1960
Oct. 3,
1960
Dec. 31,
1960
12 banks
12 banks
12 banks
12 banks
719,116
475,156
749,101
444,855
773,798
444,901
772,944
465,554
38,017
12,446
37,030
14,322
39,861
14,230
39,812
13,738
2,403
2,433
2,523
2,553
144, 403
27, 599
170,676
27, 510
162,383
24,812
167,801
25,410
136,379
24,106
315
141,891
24,206
331
146,080
24,213
365
156,516
24,146
324
4, 253
4,253
4,253
4,253
5,381
1, 589, 574
Total assets.
6,018
5, 600
1, 622, 208
1,679,069
1,643,6
LIA.BIL1TIES
Demand deposits of individuals, partnerships, and
corporations
Time deposits of individuals, partnerships, and corporations
Postal savings deposits.
Deposits of U.S. Government
—
Deposits of States and political subdivisions
Deposits of banks
Other deposits (certified and cashiers' checks, etc.)
Total deposits
Demand deposits
Time deposits._
Bills payable, rediscounts, and other liabilities for
borrowed money
Mortgages or other liens on bank premises and other
real estate
Acceptances executed by or for account of reporting
banks and outstanding
Other liabilities
Total liabilities
987,412
996, 650
972, 727
1,032,535
341,380
479
40,962
118
66,161
17,045
339,826
479
47,242
61
77,462
17,156
363,090
479
55,341
70
79, 728
11, 615
1,483,050
360,870
479
48,044
119
72,607
17,400
1,500
3, 650
13,000
4
4
1,532,054
1,453,557 1,478,876
1,096,153 1,122,968 1,103,885 1,155,242
376,812
357,404 355,908 379,165
22, 504
24,550
!6, 511
26,093
1,477, 565
1, 507,080
1, 522, 565
1, 558,151
30,093
58,308
18,347
5,261
30, 293
59, 708
19,900
5,227
31,318
61, 708
22,390
5,702
32,092
62,033
21,397
5,396
CAPITAL ACCOUNTS
Capital stock: Common stock..
Surplus
Undivided profits
Reserves
Total capital accounts
Total liabilities and capital accounts.
120,918
112,009
115,128
1, 589, 574
1,622,208
1, 643, 683
1,679,069
105,371
107, 254
100,510
121,118
MEMORANDUM
Assets pledged or assigned to secure liabilities and for
other purposes -
98,976
226
REPORT
OF
THE
COMPTROLLER
OF
THE
C U R R E N C Y 226
36.—Assets and liabilities of nonnational banks in the District of
Columbia at date of each call during the year ended Dec. SI, 1960
TABLE N O .
[In thousands of dollars]
Loans and discounts (including overdrafts)
U.S. Government securities, direct obligations
Obligations guaranteed by U.S. Government
Obligations of States and political subdivisions.—
Other bonds, notes, and debentures
Corporate stocks, including stock of Federal Reserve
bank.
Reserve with Federal Reserve bank and approved
Currency and coin
Balances with other banks, and cash items in process of
collection
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 outstanding...
Other assets
Total assets .
Mar. 15,
1960
June 15,
1960
Oct. 3,
1960
Dec. 31,
1960
7 banks
7 banks
7 banks
7 banks
327,673
193,617
340,522
179,801
356,827
187,346
358,911
194,577
13,559
6,206
13,533
8,763
16,637
9,516
16,007
9,397
794
794
884
884
64,603
12,047
72,605
11,755
84,022
10,718
73,440
11,117
53,620
7,268
52,377
7,276
59
54,795
7,214
59
55,127
7,259
61
4,253
4,253
4,253
4,253
"3,"30l'
3,437
3,821
3,897
687,000
1,175
736,092
734,930
416,709
412,219
424,241
440,622
167,434
167,353
180,459
180,569
16,322
12
22,322
5,429
628,228
458,816
174,912
18,099
10
25,745
8,166
681,692
466,874
174,718
20,992
10
26,103
4,894
666,699
468,719
187,980
22,674
5,267
667,979
1,000
1,500
13,000
LIABILITIES
Demand deposits of individuals, partnerships, and
corporations
Time deposits of individuals, partnerships, and corporations
Postal savings deposits
Deposits of U.S. Government
Deposits of States and political subdivisions
Deposits of banks
Other deposits (certified and cashiers' checks, etc.)
Total deposits
Demand deposits...
Time deposits
Bills payable, rediscounts, and other liabilities for
borrowed money
Mortgages or other liens on bank premises and other
real estate
Acceptances executed by or for account of reporting
banks and outstanding
Other liabilities
Total liabilities..
480,082
187,947
4
13,106
16,069
642,338
649,165
684,849
683,336
11,350
24,250
6,977
2,085
11,550
24,650
7,674
2,136
12,575
26,650
9,502
2,516
12,575
26,750
9,766
2,503
CAPITAL ACCOUNTS
Capital stock: Common stock..
Surplus
Undivided profits
Reserves
Total capital accounts
Total liabilities and capital accounts.
44,662
46,010
51,243
51,594
687,000
695,175
736,092
734,930
52,227
51,508
52,127
50,964
MEMORANDUM
Assets pledged or assigned to secure liabilities and for
other purposes -
R E P O R T OF T H E
TABLE
C O M P T R O L L E R OF T H E
227
CURRENCY
No. 37.—Earnings, expenses, and dividends of banks in the District of
Columbia, years ended Dec. 81, 1960 and 1959
[Dollar figures in thousands]
Years ended Dec. 31
Total
1960
Number of banks 1
—-
Total earnings from current operations
-
Number of officers1
Number of employees other than officers 1
Fees paid to directors and members of executive,
discount, and advisory committees
Interest on time deposits (including savings deposits)
Interest and discount on borrowed money
Taxes other than on net income
Recurring depreciation on banking house, furniture, and fixtures
Other current operating expenses
Total current operating expenses
Net earnings from current operations
Recoveries, transfers from valuation reserves, and
profits:
On securities:
Recoveries
.
_
Transfers from valuation reserves
Profits on securities sold or redeemed
On loans:
Recoveries
Transfers from valuation reserves
All other.
Total recoveries, transfers from valuation reserves, and profits
Losses, chargeoffs, and transfers to valuation reserves:
On securities:
Losses and chargeoffs
Transfers to valuation reserves
On loans:
Losses and chargeoffs
Transfers to valuation reserves
Total losses, chargeoffs,
valuation reserves
and
transfers
See footnotes at end of table.
1960
1959
7
to
12
5
1959
$11,350
44,499
Earnings from current operations:
Interest and dividends on:
U.S. Government obligations
Other securities
Interest and discount on loans
Service charges and other fees on banks' loans
Service charges on deposit accounts
Other service charges, commissions, fees, and collection and exchange charges
Trust department
Other current earnings
—
Current operating expenses:
Salaries and wages:
Officers
Employees other than officers
1960
7
12
—
1959
Nonnational
banks
— $30,826 $30,092 $19,001 $18, 742 $11,825
115,614 110,795 68,246 66,296 47,368
-
Capital stock, par value 3
Capital accounts3
National banks
5
13,194
1,614
41,185
656
4,801
13,828
1,549
36,070
534
4,506
7,648
837
21,451
319
2,279
8,007
973
18,515
284
2,141
5,546
777
19,734
337
2,522
5,821
576
17,555
250
2,365
1,208
3,843
1,286
1,225
3,410
1,207
560
1,416
508
517
1,255
431
648
2,427
778
708
2,155
776
67,787
62, 329
35,018
32,123
32,769
30,206
6,202
13,445
5,890
12, 757
3,363
6,667
3,116
6,286
2,839
6,778
2,774
6,471
506
3,435
497
3,492
271
1,742
263
1,723
235
1,693
234
1,769
$423
$414
$231
$230
$192
$184
8,486
425
2,576
8,714
573
2,269
4,290
239
1,321
4,461
292
1,180
4,196
186
1,255
4,253
281
1,089
1,440
10,903
1,336
10,121
911
4,637
868
4,424
529
6,266
468
5,697
43,900
42,074
21, 659
20,857
22,241
21,217
23,887
20,255
13,359
11,266
10,528
8,989
10
332
223
79
20
25
332
203
54
83
42
149
53
63
590
48
17
28
44
35
42
121
36
63
546
839
785
106
86
733
699
671
174
1,367
228
564
443
174
803
189
1,171
695
122
512
873
19
941
454
8
325
118
170
230
241
114
187
755
2,900
2,874
1,642
1,015
1,258
1,859
10
REPORT
TABLE
OF T H E
COMPTROLLER
OF T H E
C U R R E N C Y 228
37.—Earnings, expenses, and dividends of banks in the District of
Columbia, years ended Dec. 31, 1960 and 1959—Continued
NO.
[Dollar figures in thousands]
Years ended Dec. 31
Total
1960
1959
1960
1959
Nonnational
banks
1960
$21,826 $18,166 $11,823 $10,337 $10,003
Profits before income taxes
Taxes on net income: Federal
Net profits before dividends
National banks
...
Cash dividends
Memoranda items:
Recoveries credited to valuation reserves (not included in recoveries above):
On securities .
On loans
Losses charged to valuation reserves (not included
in losses above) :
On securities
On loans
Ratios to gross earnings:
Salaries, wages, and fees
Interest on time deposits
All other current expenses
Total current expenses...
Net current earnings
Ratio of cash dividends to capital stock (par value)
Ratio of cash dividends to capital accounts..
...
.
1959
$7,829
10,661
9,008
5,786
5,039
4,875
3,969
11,165
9,158
6,037
5,298
5,128
3,860
5,579
5,090
3,068
3,006
2,511
2,084
96
79
46
46
50
33
410
8
321
222
230
188
8
91
PercentPercentPercentPercentPercentPercent
29.98
13.89
21.06
29.93
12.81
25.13
31.22
14.08
24.94
29. 61
12.52
22.63
30.58
13. 98
22.94
29.30
12.25
20.30
64.76
67.50
61.85
64.93
67.87
70.24
35.24
32.50
38.15
35.07
32.13
29. 76
18.10
4.83
17.01
4.63
16.15
4.50
16.22
4.60
21.23
5.30
18.30
4.67
1 Number at end of period.
2 Figures are averages of amounts reported for the June and December call dates in the year indicated and
the December call date in the previous year.
TABLE N O .
3 8 . — N u m b e r of banks, capital stock, capital funds, net profits, interest and dividends, and ratios, A/Z &CMA;$ in the District of
Columbia, 2/ears ended Dec. 31, 1930-60
[Dollar figures in thousands. Figures for previous years published in report for 1940, p. 200]
Number of
banks
Capital
notes and
debentures
$300
1,340
1,790
1, 536
1,419
1,303
1,295
999
604
454
400
123
Preferred
stock
(par
value)
$1, 575
1,650
1,650
1,554
1,355
1,208
1,288
1,130
969
794
317
34
Common
stock
(par
value)
Total
$24,008
23,328
23,072
19,216
18,345
18,235
18,243
18,250
18,060
17,300
17,338
17,490
17,669
17,768
17,616
17,833
19, 783
20, 750
20,933
21,017
21,467
22,333
22,833
23,000
24,610
27,440
30,213
31,307
30,637
29,919
30,826
$24,008
23,328
23,072
19,516
21,260
21,675
21,429
21.223
20,718
19,803
19,625
19.224
19,092
18,962
18,056
17,867
19,783
20, 750
20,933
21,017
21,467
22,333
22,833
23,000
24,610
27,440
30,213
31,307
30,637
29,919
30,826
Capital
accounts1
$52,638
52,066
50,062
41,119
39,849
40,843
42,263
44,365
45,481
46,966
48,191
49,499
50,425
51,447
52,301
55,255
61,601
65,468
67,653
69, 635
73,451
78,295
81,881
85, 707
90,209
96,050
107,318
112,236
110,950
110,021
115,614
i Averages of amounts from reports of condition made in each year.
Ratios
Interest and cash dividends
Capital i
Net
profits
before
dividends
On
capital
notes
and
debentures
$2,983
1,514
2 1,218
2 2,186
2 416
2,501
3,744
2, 966
2,480
3,455
2,986
3,283
2,436
2,468
3,573
5,485
5,438
4,991
3,589
5,083
6,361
5,800
6,446
7,143
6, 773
7,388
7,708
7,013
6,462
9,158
11,165
2 Deficit.
$31
77
58
47
41
40
28
24
11
17
On preferred
stock
$34
68
68
59
50
47
56
42
38
31
16
1
On common
stock
$2, 755
2,648
2,278
1,006
901
996
1,083
1,194
1,248
1,379
1,416
1,442
1,439
1,432
1,557
1, 610
1, 902
2,198
2,412
2, 653
2,912
3,014
3,068
3,166
3,553
3,941
4,449
4,635
4,839
5,090
5,579
Interest
Cash
Cash
on capital notes dividends dividends
on preon comand deferred
mon
bentures
stock to
to capital stock to
preferred common
notes
capital
capital
and debentures
Percent
2.
4.
3.
3.
3.
3.
2.
3.
2.
4.
4.
31
30
78
31
15
09
80
97
42
25
88
Percent
2.16
4.12
4.12
3.
4.
3.
3.
3.
5.
2.
89
35
72
92
90
05
94
Percent
11.48
11.35
9.87
5. 24
4. 91
5. 46
5. 94
6. 54
6.91
7. 97
8.17
8. 24
8.14
8. 06
8. 84
9.03
9.61
10. 59
11.52
12.62
13. 57
13. 50
13. 44
13. 77
14.44
14. 36
14.73
14. 80
15. 79
17.01
18.10
Total
interest
and cash
dividends
to capital
accounts
Percent
5.23
4.09
4. 55
2. 45
2.42
2.79
2.86
2. 93
2. 94
3.12
3.11
3. 05
2. 95
2.88
3.02
2. 92
3.09
3. 36
3. 57
3. 81
3. 96
3. 85
3. 75
3. 69
3. 94
4.10
4.15
4.13
4. 36
4. 63
4.83
Net profits before dividends
To
capital
stock
To
capital
accounts
Percent Percent
12.43
6.49
2 5. 28
2 11. 20
2 1. 96
11. 54
17.47
13. 98
11. 97
17.45
15. 22
17.08
12.76
13.02
19. 79
30.70
27. 49
24. 05
17.15
24.19
29. 63
25. 97
28.23
31. 06
27. 52
26.92
25. 51
22. 40
21.09
30. 61
36.22
5. 67
2.91
2.43
5. 32
2 1. 04
6.12
8. 86
6. 69
5. 45
7.36
6.20
6.63
4.83
4.80
6.83
9.93
8.83
7.62
5. 31
7. 30
8. 66
7.41
7. 87
8. 33
7.51
7.69
7.18
6.25
5.82
8.32
9. 66
2
2
REPORT
OF
THE
COMPTROLLER
OF
THE
C U R R E N C Y 230
loans of banks in the District of Columbia, losses and recoveries
on loans, and ratio of net losses or recoveries to loans, by calendar years 1941-60
TABLE N O . 39.—Total
ALL BANKS
[Dollar figures in thousands]
Year
1941.
1942
1943
1944
1945
1946
1947
1948.
1949
1950.
1951
1952
1953
1954
1955
1956
1957
1958
1959
1960
Average for 1941-60
Total loans
end of year
Losses and
chargeoffs
Recoveries
Net losses
or recoveries
(+)
Ratio of
losses (or
recoveries + )
to loans
$144,649
118,524
106,789
110,479
125,302
175,340
242,755
270,963
285,399
347,853
372,607
420,060
446,861
501,630
579,680
631,394
650,210
670,206
712,426
772,944
$332
225
237
600
195
184
303
1395
1574
1382
1475
1393
1579
1335
1360
1423
1477
1427
1443
1599
$277
351
297
434
300
483
529
* 211
>304
>539
>315
>253
>406
>162
>243
>173
>212
>140
>132
>179
$55
+126
+60
166
+105
+299
+226
184
270
+157
160
140
173
173
117
250
265
287
311
420
Percent
0.04
+.11
+.06
.15
+.08
+.17
+.09
.07
.09
+.05
.04
.03
.04
.03
.02
.04
.04
.04
.04
.05
384,304
397
297
100
.03
NATIONAL BANKS
1941
1942
1943
1944
1945
1946
1947
1948
1949
1950
1951
1952
1953
1954
1955
1956
1957
1958
1959
1960
—
Average for 1941-60
See footnotes at end of table.
$68,766
55,876
51,534
55,181
67,807
96,720
131,989
145,299
145,982
183,547
199,131
226,337
245,151
300,865
347,098
378,746
396,165
376,878
388,955
414,033
$122
112
133
110
66
62
133
1264
1261
U66
1298
1279
1288
U39
1206
1241
1252
U70
1238
1241
$143
147
113
141
112
211
230
>100
>93
>180
>191
>102
>289
>75
>123
>103
>134
>67
>63
>94
+$21
+35
20
+31
+46
+149
+97
164
168
+14
107
177
+1
64
83
138
118
103
175
147
+0.03
+.06
.04
+.06
+.07
+.15
+.07
.11
.11
+.01
.05
.08
213,803
189
136
53
.02
.02
.02
.04
.03
.03
.04
.04
REPORT
OF
THE
COMPTROLLER
OF
THE
CURRENCY
2 3 1
3 9 . — T o t a l loans of banks in the District of Columbia, losses and recoveries
on loans, and ratio of net^losses or recoveries to loans, by calendar years 1941-60—
Continued
TABLE NO.
NONNATIONAL
BANKS
[Dollar figures in thousands]
Year
1941
1942
1943
1944
1945
1946
1947
1948
1949
1950
1951
1952
1953
1954
1955
1956
1957
1958
1959.
1960
Average for 1941-60
Total loans
end of year
Losses and
chargeoffs
Recoveries
Net losses
or recoveries
(+)
$75,883
62,648
55,255
55,298
57,495
78,620
110,766
125,664
139,417
164,306
173,476
193,723
201,710
200,765
232,582
252,648
254,045
293,328
323,471
358,911
$210
113
104
490
129
122
170
1 131
1 313
1 216
1 177
1 114
1291
1 196
1 154
1 182
1 225
1 257
1 205
1 358
$134
204
184
293
188
272
299
aill
' 211
2 359
* 124
*151
8 117
* 87
* 120
* 70
* 78
* 73
>69
* 85
$76
+91
+80
197
+59
+150
+129
20
102
+143
53
+37
174
109
34
112
147
184
136
273
Percent
0.10
+.15
+.14
.36
+.10
+.19
+.12
.02
.07
+.09
.03
+.02
.09
.05
.01
.04
.06
.06
.04
.08
170,501
208
161
47
.03
i Excludes transfers to valuation reserves.
3
Excludes transfers from valuation reserves.
NOTE.—For prior figures beginning with year 1928 see Annual Report for 1947, p. 109.
Ratio of
losses (or
recoveries + )
to loans
REPORT
OF T H E
COMPTROLLER
OF T H E
C U R R E N C Y 232
securities of banks in the District of Columbia, losses and
recoveries on securities, and ratio of net losses or recoveries to securities, by calendar
years 1941-60
TABLE N O . 40.—Total
ALL BANKS
[Dollar figures in thousands]
Year
194 1
194 2
1943
1944.
194 5
1946
194 7
194 8
1949
1950
195 1
195 2
1953
195 4
1955....
195 6
195 7
1958
195 9
1960
Average for 1941-60.
Total securities end of
year
Losses and
chargeoffs
Recoveries
$158,518
306,889
433,694
549,977
719.103
621,710
547.104
509, 545
534,759
575, 500
601,232
570,881
548,393
575,323
543,452
521,085
514,639
594,931
546,385
521,657
$827
466
770
639
299
205
347
$359
262
590
459
278
125
1126
i 169
1757
i 711
1634
i 164
1509
i 1,224
i 518
1889
i 1,375
1671
22
524,739
575
Net losses or
recoveries ( + )
2 10
204
180
180
21
80
264
113
124
167
757
703
563
130
508
1,224
517
889
1,375
661
119
456
$242
199
469
250
173
76
16
2 80
21
2 10
$375
72
172
+19
9
21
150
+36
23
100
540
425
198
151
167
332
203
341
564
218
0.40
.04
.06
+.01
.002
.01
.05
+.01
.01
.03
.14
.12
.06
.04
.05
.10
.06
.10
.17
.07
80
200
.06
1201
22
7
2
71
34
21
NATIONAL BANKS
194 1
194 2
194 3
1944
194 5
1946
1947
1948
1949
1950
195 1
195 2
1953..
1954
195 5
195 6
195 7
1958
195 9
1960.
—
Average for 1941-60,
See footnotes at end of table.
$ 94,880
203, 593
276, 495
341,778
440, 209
372, 566
327,705
308,248
345, 537
379,010
388,279
361,695
351,994
378,648
354,373
348,086
331,406
350,090
325,286
300,792
$617
271
641
231
182
97
166
144
l 24
1100
i 540
1432
i 265
i 151
i 167
1332
i 204
1341
i 564
1228
329,034
280
2
()
27
2 67
21
REPORT
OF
THE
COMPTROLLER
OF
THE
CURRENCY
2 3 3
securities of banks in the District of Columbia, losses and
recoveries on securities, and ratio of net losses or recoveries to securities, by calendar
1941-60— Continued
TABLE N O . 40.—Total
NONNATIONAL BANKS
[Dollar figures in thousands]
Year
194 1
194 2
194 3
194 4
194 5
194 6
194 7
194 8
194 9
195 0
195 1
195 2
1953
195 4
195 5
195 6
195 7
195 8
195 9
196 0
Total securities end of
year
$ 63,
103,
157,
208,
278,
249,
219,
201,
189,
196,
212,
209,
196,
196,
189,
172,
183,
244,
221,
220,
Average for 1941-60.
Ratio of losses
Net losses or (or recoveries
recoveries ( + ) - f ) to securities
1443
$ 93
132
8
199
12
59
114
149
101
67
217
278
365
+21
341
892
314
548
811
443
295
256
$117
63
121
209
105
49
67
28
21
«2
$210
195
129
408
117
108
181
157
i 102
1 69
i 217
i 279
I 369
i 13
1342
i 892
1314
i 548
21
24
2 34
21
1811
195, 705
i Excludes transfers to valuation reserves.
Recoveries
Losses and
chargeoffs
2
0.15
.13
.01
.10
.004
.02
.05
.07
.05
.03
.10
.13
.19
+.01
.18
.52
.17
.22
.37
.20
.13
Excludes transfers from valuation reserves.
NOTE.—For prior figures beginning with year 1928 see Annual Report for 1947, p. 110.
TABLE
No. 41.—Fiduciary activities of banks in the District of Columbia,
Dec. 31, 1960
Total
National
banks
Nonnational
banks
6
3
3
6
3
3
Total banking assets of banks authorized to exercise
fiduciary powers
__ $1, 509, 584,620
$892, 790,362
$616, 794,258
350,616, 753
690,259,910
4,932, 569
139,686,037
255,839,967
1,714,642
210,930,716
434,419,943
3,217,927
1,045,809,232
397,240,646
648, 568, 586
4, 512
2,238
65
257
1,529
742
46
105
2,983
1,496
19
152
7,072
2,422
4,650
$343,070,094
$318,043, 544
$25,026, 550
3,843,000
1,416,000
2,427,000
Number of banks exercising fiduciary powers
Number with authority but not exercising fiduciary
powers
Total number authorized to exercise fiduciary
powers
Trust department liabilities:
Trusts
Agency, escrow, custodian, and corporate accountsAll other liabilities
Total liabilities
Number of accounts being administered:
Trusts
Agency, escrow, and custodian
Corporate trust bond issue accounts
All other accounts 1
_
Total number of accounts.
Bond and debenture issues outstanding where bank acts
as trustee
Trust department gross earnings for year ended Dec.
31, 1960
i Corporate paying agency, depository, registrar, transfer agency, etc.
TABLE N O .
to
4 2 . — A s s e t s and liabilities of all active banks in the United States and possessions, by classes, Dec. SI, 1960
OO
[Dollar figures in thousands]
Total all
banks
Number of banks
National
banks
All banks
other than
national
Banks other than national
State commercial 1
w
H
Private
Mutual
savings
o
4,530
9,441
8,865
515
61
1,700,719
44,668,375
9,372,357
620,579
11,315,077
3,598,550
1,080,140
33,353,298
5,773,807
1,024,934
9,043,009
3,196,045
53,172
24,306,029
2,575,940
2,034
4,260
1,822
971,278
7,130,811
3,284,120
433,327
3,846,627
1,311,152
537,951
3,284.184
1,972,968
537,676
3,273,960
1,970,021
1,842,750
803,722
1,039,028
1,016,891
9,551
12,586
W
686,458
5,002,992
43,463,105
26,780,907
2,941,393
318,212
2,430,134
23,979,387
14,709,588
1,633,850
368,246
2,572,858
19,483,718
12,071,319
1,307,543
367,519
2,564,160
19,300,986
11,793,928
1,270,165
1,900
104,509
268,605
32,225
727
6,798
78,223
8,786
5,153
e
4
«t-
147,845,265
2,590,553
65,000,205
1,306,537
82,845,060
1,284,016
55,359,294
1,054,241
27,351,931
229,714
133,835
61
145,254,712
63,693,668
81,561,044
54,305,053
27,122,217
133,774
67,343,341
18,280,540
6,936,857
1,456,276
32,711,723
9,408,711
1,407,576
324,184
34,631,618
8,871,829
5,529,281
1,132,092
28,352,175
8,119,035
1, 275,572
294,534
6,239,185
671,974
4, 251,208
829,297
40,258
80,820
2,501
8,261
94,017,014
43,852,194
50,164,820
38,041,316
11,991,664
131,840
3,512,975
1,721,492
1,791,483
1,647,141
142,299
2,043
49,592,216
3,107,655
98,767
26,953,014
1,685,524
51,164
22,639,202
1,422,131
47,603
21,818,811
1,158,588
31,253
730,180
261,342
16,287
90,211
2,201
63
305,223
173,611
131,612
131,548
ASSETS
Loans and discounts:
Real estate loans:
Secured by farm land (including improvements)
Secured by residential properties (other than farm)
Secured by other properties
Loans to financial institutions:
Domestic commercial and foreign banks..
Other
Loans to brokers and dealers in securities
Other loans for the purpose of purchasing or carrying stocks, bonds, and other
securities
Loans to farmers directly guaranteed by the Commodity Credit Corporation
Other loans to farmers (excluding loans on real estate)
Commercial and industrial loans (including open market paper)—.
Other loans to individuals for personal expenditures.
All other loans (including overdrafts)
Total gross loans
Less valuation reserves
Net loans
Securities:
U.S. Government obligations, direct and guaranteed
Obligations of States and political subdivisions
Other bonds, notes, and debentures
Corporate stocks, including stocks of Federal Reserve banks
Total securities
„
Currency and coin
Balances with other banks, including reserve balances and cash items in process
of collection.
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
to
H
13,971
(')
275
10,224
2,947
64
o
w
o
o
K
•d
o
5d
O
3
o
cj
Sd
w
H
2
Customers' liability on acceptances outstanding.
Other assets.
.
Total assets
.
LIABILITIES
Demand deposits:
Individuals, partnerships, and corporations
U.S. GovernmentStates and political subdivisions
Banks in the United States
Banks in foreign countries-.
Certified and cashiers' checks, etc
Total demand deposits.
Time deposits:
Individuals, partnerships, and corporations
U.S. Government
Postal savings
States and political subdivisions
Banks in the United States..
Banks in foreign countries
.
.
Total time deposits
Total deposits—
Bills payable, rediscounts, and other liabilities for borrowed money
Acceptances executed by or for account of reporting banks and outstanding
Other liabilities
Total liabilities
CAPITAL ACCOUNTS
Common stock.
Capital notes and debentures.
Preferred stock
Surplus
Undivided profits
Reserves and retirement account for preferred stock and capital notes and debentures.
Total capital accounts.
Total liabilities and capital accounts
1 Includes stock savings banks.
2 Not reported separately.
463,691
666,509
964,592
945,422
635,739
309,952
19,170
3,848
139,260,867
159,672,026
118,714,871
40,573,941
383,214
63,131,263
3,265,324
6,703,991
9,218,493
610,049
1,824,934
54,239,010
2,700,258
5,064,738
6,252,410
1,016,971
2,795,312
54,021,611
2,696,000
5,060,490
6,237,272
981,236
2,761,651
21,925
4,064
1,982
325
4,955
195,474
194
2,266
14,813
35,735
28,706
84,754,054
72,068,699
71,758,260
33,251
277,188
36,761,292
182,920
8,300
2,593,336
87,626
523,323
66,622,185
74,738
9,660
2,008,246
229,315
960,854
30,298,918
74,554
9,660
1,993,717
225,852
948,681
36,303,994
184
19,273
13,792
1,463
737
2,000
12,173
w
H
•d
O
W
O
a
a
o
g
•d
40,156,797
1,904,998
33,551,382
36,319,433
34,183
124,910,851
141,973,697
105,309,642
36,352,684
311,371
o
110,590
474,565
2,666,523
73,781
998,213
3,121,974
60,964
976,831
2,447,823
3,554
"665,"028
9,263
21,382
9,123
H
W
128,162,529
146,167,665
108,795,260
37,021,266
351,139
O
3,341,320
2,942,277
53,369
13,120
7,064,165
2,865,997
2,934,684
53,219
13,120
4,574,735
2,072,417
2,468,817
792,301
1,530
5,446,143
2,030,052
W
B
150
20,613
1,279
279,293
565,433
271,436
291,407
2,590
11,098,338
13,504,361
9,919,611
3,552,675
32,075
139,260,867
159,672,026
118,714,871
40,573,941
383,214
w
H
I
fcO
00
01
T A B L E N O . 43.—^.SSETE
and liabilities of all active banks in the United States and possessions, Dec. 81, 1960 (including national, State
commercial, savings, and private banks)
ASSETS
[Dollar figures in thousands]
Location
Maine.
New Hampshire...
Vermont
Massachusetts
Rhode Island
Connecticut
Total New England S t a t e s New York
New Jersey.
Pennsylvania
Delaware
—
Maryland
District of Columbia
Total Eastern
States
—
Virginia
West Virginia
North Carolina
South Carolina
Georgia.
Florida
Alabama
Mississippi
Louisiana
Texas
Arkansas
Kentucky
Tennessee
Total Southern
States
Balances
with
Real
other
estate
banks,
Bank
ObligaCorporate
U.S. Govincluding premises owned
Other
tions of
stocks,
Loans" and ernment
other
owned,
bonds, including Currency reserve
States
Population N u m - discounts,
obligathan
and polit- |notes,
stocks of and coin balances furniture
(approxi- ber of including
tions,
bank
and
cash
and
deand
ical
subFederal
mate)
banks
direct and
overpremitems in
fixtures
divisions bentures Reserve
guarandrafts
ises
process
banks
teed
of collection
976,000
614,000
392,000
5,195,000
867,000
2, 587,000
79
107
62
356
17
141
628,004
639,070
362, 523
7,025, 355
902,1
3,112, 506
10,631,000
762 12,669, 551
16,973,000
6,186,000
11,407,000
460,000
3,176,000
529 42,008, 715
274 4, 530,196
710 8,949,148
420,609
22
1,505,1"""
763,000
772,944
49,093,000
305
182
183
145
402
309
238
193
190
1,007
237
355
297
51,007
29,148
29,323
387,147
94,280
262,552
76,1
34,509
7,562
350,781
91,872
331,519
30,304
37,104
3,597
257,644
28,432
141, 513
853,457
465, 554
58,186,895 20,527,623
38,965,000
4,029,000
1,856,000
4,605,000
2,409,000
3,991,000
5,227,000
3,290,000
2,183,000
3,312,000
9,760,000
1,783,000
3,052,000
3,596,000
291,117
244,924
112,929
3,171,024
292,314
1,009,140
1,706,204
555,749
1,473,679
459,996
1, 517, 986
2,013,955
985,067
567,166
1,263,249
5, 683.863
560,364
1,083,741
1,688,856
4,043 19,559,875 11,218,718
13,738
2, 553
>,089,442 4,106,047
627,268
229,749
86,076
248,330
96,222
159,361
345,677
212,054
209, r •
268,345
817,247
145,237
103,940
246,993
627113
10,583
86,188
31,021
44,982
52,092
37,225
12,548
16,862
167,450
21,537
34,105
M85
2,977
4,220
1,404
5,416
7,621
3,307
1,440
4,628
24,347
1,628
3,557
5,561
3,168,765
613,655
39,812
72,491
102,932
20,525
80,352
11,807
48,517
7,608
115,782 1,350,498
130,114
20,563
510,799
72,430
15,337
14,706
7,022
107,999
14,785
60,730
818
1,448
344
4,029
384
3,815
Investments
and
other
Customers'
indiliabilrectly
ity on
repre- acceptsenting ances
bank
outpremstandises or
ing
other
real
estate
990
45
1,413
2,370
256
52,895
1,576
17
324,317
24,146
324
977,792 16,900,611
983,721
72,173 1,081,032
49,150
17,109
45,723
15,019
51,168
85,707
26,411
21,389
37,624
242, 537
16,227
22,437
40, 571
226
!, 050
671,072
28,452
5,404
W
3,260 1,220,362
1,010 1,094,123
582,052
1,214
46,750 12,872,274
1, 581,508
4,1
10,304 5, 515,655
H
o
O
•d
H
Sd
O
F
t"1
H
Ed
O
^
1,679,069
816,902
H
O
a
w
td
H
568
8
508
1,165
243
244
1,642
53,288
3
123
11,534
49,367
td
H
^
6,018
4,253
o
o
67,377 22,865,974
14,459
2,033
8,238
896
920
*
832, 547 10,114,857
Total
assets
642,401 76,335,148
40,789 9,467,176
69,994 18,530,636
3,288 1,006,779
54,412 3,377,568
10,8
591, i
114,772
207,702
11,996
33,836
25,410
Other
54,488
220, 579
12,228,326
1,088,216
2,642,335
142,996
474,421
CO
O*
w
H
•d
52,451 1,063,512
1,123
771
11,734
15,551
2,223
248,715 2,223,212
to
137,580 46,536,928
Ohio
Indiana
Illinois
Michigan
Wisconsin
Minnesota
g Iowa
00 Missouri
Total Middle
§
9
Western States_
ii
H*
1
I
tL
ea
North Dakota
South Dakota
Nebraska
Kansas
Montana
Wyoming
Colorado
New Mexico
Oklahoma
Total Western
States
Washington..
Oregon
California
Idaho
Utah
Nevada
Arizona
Alaska
Hawaii
Total Pacific
States
Total United
States (exclusive of possessions)
Canal zone
(Panama)
Guam
Puerto Rico 3
American Samoa...
Virgin Islands of
the United
States 4
Total possessions.
Total United
States and pos-
9,875,000
4,732,000
10,213,000
7,963,000
4,002,000
3,456,000
2, 774,000
4, 357,000
47, 372,000
635,060
684,000
1,421,000
2,205,000
683,000
334,000
1, 797,000
979,000
2,341,000
11,079,000
2, 898,000
1, 793,000
16, 272,000
675,000
910,000
301,000
1, 370,000
238,000
646,000
25,103,000
587
447
966
380
563
690
671
626
2,000, 792
923,306
3,492,132
1,381,334
824,470
886,037
602,354
1,503,928
141,309
54,102
100,758
111,843
45, 535
47,869
22,728
51,332
1,769
1,504
5,356
3,804
2, 567
1,419
1,321
1,695
6, 576
1,727
22,203
9,446
6,272
15,368
3,291
4,359
889
37
44,138
754
504
936
24
668
43,086 12, 558,145
16,941 5,323,725
85,027 19,397,487
38,474 9,739,246
36,861 5,088,002
18,436 4,982,970
4,760 3,459,509
21,083 6,823,484
141,487
638
965
2,928
3,248
1,196
633
3,905
918
4, 551
895,691 11,614,353
9,251
97,865
9,953
122,161
19,178
388,594
33,336
494,364
11,581
148, 578
6, 762
94,205
27,366
464,659
15, 650
152,492
37,209
769,758
575,476
8,821
8,289
13,395
22,245
12,295
5,061
18,114
11,208
32,262
19,435
78
327
521
716
592
646
1,091
389
1,188
69,242
311
594
1,862
698
27
16
7,635
212
6,419
47,950
264,668 67,372, 568
2,359
839,141
2,739
822,168
4,758 1,868,907
3,788 2,661,407
3,267
906,837
2,185
462,173
11,183 2,228,009
2,116
776,476
5,847 3,000,895
18,982
3,450,905
1,745,779
5,517,876
2,707,953
1,504,526
1,170,726
885,020
1,769,210
856,762
272,135
1,429,707
939,100
320,387
287,382
280,239
434,226
112,957
54,347
294,004
30,356
63,723
148,072
30,838
60,027
23,980
7,113
51,811
15,247
5,029
12,772
3,003
22, 532
4,930 29,378,009 18,751,995
156
315,398
277,741
174
359,262
255,105
426
835,324
482,916
587 1,075,912
716,123
121
377,345
272, 536
55
177,877
146,891
189 1,045,105
549,429
55
321,442
227,319
389 1,180,355
715,446
4,819,938
88,542
44,509
105,980
284,252
59,649
23,322
93,770
38,045
221,501
794,324
2,152
5, 716,142
2,145,396
8,174,153
4,348,920
2,203,959
2,342, 584
1, 572,319
2,874, 536
38,137
18,264
13,451
26,725
19,762
4, 575
5,752
6,685
26,065
202,978
101,338
180,322
152,015
74,169
51,369
53,612
79,888
33,000
2, 533,000
294
5, 68,8,020
91 1, 734,740
52 1,065,410
117 14,079,198
32
334,808
50
545,134
7
251,899
10
759,816
13
92,845
12
409,757
3,643, 506
959,570
203,677
194,095
1,682,566
46,258
62,115
34,652
72,118
9,373
43,270
159,416
57,394
48, 727
207,094
1,201
4,777
2,099
21, 512
6,754
4,326
131,690
51,547
36,842
355,641
10,345
7,065
9,596
29,030
3,598
13,189
5,548
1,145
670
2,930
576
129
152
616
460
361
303
5,082
3,180
79,201
992
1,717
634
2,686
244
2,392
170,286 2, 732,676
39,676
558,407
21, 536
371,861
216,280 4,283,424
9,867
100, 316
12,918
208,618
7,812
47,828
23, 571
246,184
8,020
29,202
22,831
99,481
17,774
782,812
525, 524
5, 572,033
201,696
248, 657
124,633
242,035
73, 506
202,098
1,130
226
69,661
480
8,830
162
8,224
809
1,740
1,843
1,448
169,446
1,073
38,242 13, 566,013
12,416 3,449,869
11,985 2,281, 504
175,656 26,893,130
1,295
707,834
1,802 1,101,762
2,131
481, 598
11,415 1,417,593
295
225,106
8,094
808,612
384 19,273,607
7,972,994
2, 348,124
353,884
96,128
362, 511 5,945,321
516,853
7,039
91,262
174,196
225,089 37, 367,008
182,243,000 13,957 144, 755,957 67,236, 284 18,239,296 6,919,637 1,454,950 3,487, 542 49, 531,030 3,099,391
42,000
68,000
2, 370,000
20,000
9
0)
(2)
10
l
1,910
11,272
467,903
327
99,004
2,181
38,236
17,214
1,195
3
14
17,343
498,755
5,872
107,057
3,008
41,244
6
17,220
131
1,326
1,802
883
21,303
72
1,147
3,784
52,476
159
12
232
7,869
4
1,373
25,433
3,620
61,186
147
8,264
386
98,182 305,222 1,427,518 1,549,858 298,104.867
71
367
1
785
1
765
147
585
16,617
14,296
28,918
59
21,488
30, 538
735,251
2,802
6,300
66,190
828,026
37,947
184,776,000 13.971 145, 254, 712 67, 343,341 18,280,540 6,936,857 1,456,276 3, 512,975 49, 592,216 3,107,655 98, 767 305,223 1,428,283 1,616,048 298,932,893
member bank in New York.
branches of a national bank and 2 branches of a State member bank in New York.
4 Asset and liability items include data for branches of a State member bank in New
2 Branch of a national bank in California.
York.
3 Asset and liability items include data for branches of a national bank and a State
-Assets and liabilities of all active banks in the United States and possessions, Dec. SI, 1960 {including national, State
commercial, savings, and private banks)—Continued
T A B L E N O . 43.-
to
OO
00
LIABILITIES
[In thousands of dollars]
Total
deposits
363.781
255,532
147,480
4,665,226
472.782
1,771,921
714,086
700,817
375,056
6,620,819
934,363
3,134,460
1,077,867
956,349
522,536
11,286,045
1,407,145
4,906,381
108
2,175
250
625
7,676,722
12,479,601
20,156,323
- 34,864,821
- 4,071,727
9,082,277
552,774
1,744,626
1,155,242
31,672,928
4,506,671
7,303,572
314,190
1,306,475
376,812
51,471,467
45,480,648
-
Total New England States
New York
New Jersey
Pennsylvania
Delaware
Maryland
District of Columbia
-
-
Total Eastern States
Virginia
West Virginia
North Carolina
South Carolina
Georgia
Florida
Alabama
Mississippi
Louisiana
Texas
Arkansas
Kentucky
Tennessee
-
-
-
-
Total Southern States
-
-
-
-
73
Time
deposits
Maine
-
Acceptances
executed
by or for
account of
reporting
banks and
outstanding
Demand
deposits
Location
Massachusetts
Rhode Island
Connecticut
Bills payable, rediscounts,
and other
liabilities
for borrowed
money
---
Other
liabilities
Capital
stock 1
Surplus
Reserves
and retirement
Undivided account for
preferred
profits
stock and
capital
notes and
debentures
54,001
1,576
17
22,553
21,491
8,896
283,752
39,881
125,837
23,431
9,526
13,414
156,794
24,640
70,237
54,395
57,961
19,690
682,264
89,662
249,339
38,892
40,079
14,356
354,421
17,742
135,732
3,043
6,542
2,910
54,372
862
27,700
3,570
55,667
502,410
298,042
1,153,311
601,222
95,429
66,537,749
8, 578,398
16,385,849
866,964
3,051,101
1,532,054
13,653
1,400
55,700
100
575
1,101,502
771
16,116
2,104,823
197,514
298,011
39,876
48,381
26,097
1,400,355
173,733
401,214
16,035
54,397
32,092
3,769,870
372,712
1,027,628
73,191
153, 526
62,033
1,217,365
96,235
274,304
10,136
57,300
21,397
189,831
46,413
71,814
477
11,090
5,396
96,952,115
71,428
1,119,587
2, 714,702
2,077,826
5,458,960
1,676,737
325,021
5,948
6,611
8,688
2,567
27,104
15,579
8,998
1,543
4,848
42,371
4,609
4,978
7,855
141,699
412~
1,979,321
838,015
2,153,218
824,209
2,160,084
3,485,851
1,507,053
1,024,113
2,249,238
9,483,571
974,944
1,779,560
2,245,227
1,284,790
435,452
774,147
202,335
779,913
1,396,425
613,666
337,157
715,614
2,841,528
316,629
521,417
1,077,166
3,264,111
1,273,467
2,927,365
1,026,544
2,939,997
4,882,276
2,120,719
1,361,270
2,964,852
12,325,099
1,291,573
2,300,977
3,322,393
3,820
946
1,032
500
312
3,150
202
918
570
1,108
32
200
8,300
30,704,404
11,296,239
42,000,643
21,090
1,~198~
243"
11,534
66,542
23,967
141,193
28,266
67,234
73,757
32,919
12,035
32,064
90,560
8,103
26,769
50,352
89,451
35,966
73,883
30,736
83,107
160,578
58,425
28,212
74,699
395,514
34,723
59,418
83,165
155,909
72,517
153,178
48,075
126,967
180,710
83,830
75,362
128,677
460,410
45,933
113,296
125,558
56,835
33,297
35,420
15,671
51,221
57,659
44,880
2,795
47,495
180,322
33,944
50,274
60,270
71,353
653,761
1,207,877
1,770,422
670,083
226
568
8
553
1,197
299
246
1,739
54,740
w
M
hd
O
W
O
sH
8^
W
o
f
t-<
H
W
O
a
H
aw
w
H
a
799,121
180,462
940,474
721,560
660,394
688,168
178,462
734,328
4,509,858
1,630,867
5,561,481
4,134,353
2,002,921
1,821,078
953,717
1,434,282
308,979
811,329
501,955
855,913
663,315
509,246
132,179
168,610
561
335
40,067
260
2,348
375
1,235
176
74
44,387
754
504
939
24
685
223,577
97,370
238,133
161,467
57,142
65,320
14,166
80,607
300,895
106,965
509,908
221,460
101,628
116,744
77,076
189,168
540,231
196,025
707,629
337,013
169,693
175,522
116,305
208,607
175,915
98,854
241,654
140,369
82,969
96,610
107,430
162,896
7,098
12,773
113,754
22,010
10,403
18,214
11,094
12,735
38,902,969
22,048,557
60,951,526
45,357
48,256
937,782
1, 623,844
2,451,025
1,106,697
208,081
459,168
497,459
1,444, 935
1,841,415
558,478
284,267
1,419,877
512, 090
2,170,051
299,635
252,544
233,513
570,305
270,583
136,842
602,763
201, 083
539,880
758,803
750,003
1,678,448
2,411,720
829,061
421,109
2,022,640
713,173
2,709,931
200
800
8,770
3,785
1,400
1,748
435
7,117
294
8,080
7,674
13,988
15,176
13,313
4,764
31,771
8, 538
21, 778
19,130
16,396
47,702
64,015
22, 598
6,473
58, 729
20,120
75,445
26,167
24,795
65, 500
102,047
23, 731
17,322
71, 573
20,252
102,425
21,542
19,899
48,287
60,878
16,130
10,674
36,922
7,455
78,788
5,219
2,601
6,212
3,786
595
1,831
4,626
6,503
5,117
1,187,740
3,107,148
12,294,888
24,255
303
795,029
129,196
953,690
412,298
599,838
248,269
838,252
120, 577
389,120
1,327,401
927,194
11,384,538
236, 928
405,416
192,633
434,296
89,281
337,071
3,122,430
2,056,390
24,338,228
649,226
1,005,254
440,902
1,272,548
209,858
726,191
575
160
1,863
1,448
172,077
76
18,486,269
15,334, 758
33,821,027
Total United States (exclusive of posses156,429,571 109,746,951 266,176,522
sions)
Ohio
Indiana
Illinois
Michigan
Wisconsin
Minnesota
Iowa
Missouri
-
-
__
-
-
Total Middle Western States
North Dakota
South Dakota
Nebraska
Kansas.
Montana
Wyoming
Colorado
New Mexico
Oklahoma
—
Total Western States
Washington
Oregon
California
Idaho
Utah
Nevada
Arizona
Alaska
Hawaii
—
Total Pacific States
Canal Zone (Panama)
Guam
Puerto Rico...
American Samoa
Virgin Islands of the United States
Total possessions
Total United States and possessions
—
a
w
o
3H
a
o
125, C
330,1
453,812
300,575
36,490
1,073
56,452
44,303
629,785
8,126
19,432
10,254
36,816
1,247
11,821
72, 563
56,394
526, 554
17.903
22,987
9,686
34,419
6,218
24, 681
126,699
66,818
849,785
20,470
39,107
14,579
56,307
4,285
28, 572
62,366
55,095
363,907
8,210
12,665
6,112
13,369
2,526
12,436
7,496
481
12,634
3,899
2,317
65
3,548
972
3,762
1,011
176,847
818,236
771,405
1,206,622
536,686
35,174
166,711
1,472,013
5,751,973
6,309,602
12,494,152
5,000
841,894
m
41,435
100
479
15,456
25
675
3,497
41
511
133
Sd
W
386
16,928
13, 580
345, 529
1,385
15, 760
4,504
16,217
272,975
1,085
20,063
21,432
29, 797
618,504
2,470
35,823
17,660
765
56
741
35,235
33
459
393,182
314,844
708, 026
17,660
765
36,524
42,014
16,156
4,049
2,832
156, 822, 7*3 110, 061, 795 266,884, 548
184,371
1,472, 778
5, 788, 497
6, 351,616
12, 510,308
4,896,049
844,726
i Includes capital notes and debentures. (See classification on pp. 242 and 243.)
5tf
H
K
hd
H
SJ
O
t«
t+
fel.
W
o
§
«
to
OO
CD
TABLE
NO.
and liabilities of all active banks in the United States and possessions, Dec. 31, 1960 (including national, State
commercial, savings, and private banks)—Continued
4 3 -
to
o
[In thousands of dollars]
Loans and discounts
Real estate loans
Location
Secured
by
farm
land
(including
improvements)
297,558
8,536
370, 795
6,334
174,760
18,228
3,
770,561
8, 763
486, 376
1,691
8,264 1,994,338
Maine
New Hampshire
Vermont
Massachusetts
Rhode Island
Connecticut
Total New England States
Virginia
West Virginia
North Carolina
South Carolina.
Georgia
Florida
Alabama
Mississippi
Louisiana
Texas
Arkansas
Kentucky
Tennessee
Total S o u t h e r n
States
To domestic
Secured comby
merother
cial
properand
ties
foreign
banks
60,562
100,533
38,036
625, 373
67,278
180,109
Other
Loans for purchasing or carrying securities
To
brokers
and
dealers
in securities
5
13,685
7,500
5
8,848
4,856
868
202,448
31,456
35,973
740
2,144
697
86,220
2,957
24,928
21,345
284,449
150
Other
Loans to farmers
Directly
guaranteed by
the
Commodity
Credit
Corporation
2,1
117,686
!, 579
171
488,800
26,172
128,516
2,965
29,
4,322
537
"353
98
208,059 23,036, 699 3, 685,223 556,182 2, 751,688 2,095,370
22,313
53,178
360, 560 122,030
5,070
49,805
2,176
11,334
48,436
157,180
175
14,175
28,001
76,896
117,030
89.603 26,914
43,095
6,653
21,793
51, i "
34,321
18
14,225
14,770
93,095
188,559
76,511
645
50, 795
19,324
105,099
5,228
26,384
219.929 177,820
11,380
45,240
200
31,569
108,668
52.604
9,049
16,843
2,500
38,140
39,723
53,499
15, 791
86, 582
1,951
27, 749
146,869 l l l , r ~
109,374
274,
r
2,228
48,512
256,186 227,921
4,927
17,406
31,123
58,958
42, 588
6,762
67,482
78,915
74,027 " " " 7 1 4
162.930
20,113
60,894
78, 747
2,706 104,384
165,054
680, 773
1,813
11,
10,501
26,933
10,014
26,887
47,803
10,052
10,668
12,020
242,641
7,326
14, 702
22, 587
404
13
439
17,078
1
284
3,220
887
67,953
12,560
1
4,328
454,120
108,470
515,381 2,047,011 1,176,197
48,349
974,229
270,633
Other
loans to
farmers
(excluding
loans on
real
estate)
Sd
Commercial and
industrial
loans
(including open
market
paper)
12,584
120,616
3, 948
66,902
17, 608
44, 627
13,305 1,437, 503
818
187, 620
7,!
373,801
1,952
3,863
21,562
872
12,394
2,421,558 517,479 2,007,162 1,834, 780
61,065 17,582,«
4,824 136,421 142,427
14, 672 2,031,212 380,180
81,847
90,088 2, 618,808 634,470 30,146 432,120
21,109
2,788
38,448
116,236
75
12,051
78,827
23, 639
536, 739 144,272
30,018
650
76,049
66,295
150,766
165
3,<
51, 816 7,094,388 1,071,8
New York
New Jersey
Pennsylvania
Delaware
Maryland
District of Columbia
Total Eastern
States
Secured
by residential
properties
(other
than
farm)
Loans to financial institutions
"825
Other
loans to
individuals for
personal
expenditures
AH
other
loans
(including
overdrafts)
Total
gross
loans
Less
valuation;
reserves
•d
O
w
Net loans
o
^
H
H
114,340
81, 629
65,315
867, 785
112,553
464,060
8,419
4, 202
2,307
64,491
17, 772
42,210
635,289
643, 295
366,314
7,111,867
916, 893
3,144,063
56,244 2, 231, 069 1, 705, 682 139,401 12, 817, 721
117,347 12,979,160 3, 712,396 ,066, 761 42, 789,983
63,924 4, 624,119
791,866 1, 013,615
18,806
193,962 9,130,161
99, 421 2,839,163 1,981,267
424,534
128,318
7, 459
90,970
4,017
1, 526,304
339, 685
22,180
297,055
23,241
782,851
215,092
21, 782
234,534
124
7, 285
4,225
3, 791
86, 512
14,800
31,557
628,004
639, 070
362,523
7,025,355
902,093
3,112, 506
148,170 12, 669,551
781,268 42,008,715
93,923 4, 530,196
181,013 8, 949,148
420, 609
3,925
1,505,283
21,021
772,944
9,907
262,956 17,232, 748 7,390,373 1,376,068 59,277,952 1,091,057 58,186,895
1, 706,204
22,006
1, 728,210
31,
581,
53,988
435,252
555, 749
10,968
566,717
6,822
202,438
8,878
104,602
32,520 1,473, 679
26, 749 1,506,199
480,055
41, 940
548,970
459,996
8,577
468,573
11,161
150,677
14, 017
153,666
21,551 1,517,986
34,944 1,539,537
493,557
39,946
502, 750
39,301 2,013,955
34,043 2,053,256
690,319
34,707
692, 599
985,067
25,047
24,928 1,010,114
333,587
43,370
348,232
567,166
14,946
582,112
16,025
141,882
41,147
209,416
18,593 1,263,249
77,194 1,281,842
273,118
27,546
500,269
106,075 5,683,863
337,826 2,637, 560 1,423,967 160,873 5, 789,1
560,364
6,677
6,350
149,031
57, 714
179,058
567,041
17,194 1,083,741
17,824 l,100, r ~~
319,839
80,876
275, 561
33,023 1,688,856
31,884 1,721,879
535,600
59,053
636,529
841,008 7,224,464 5,775,758
480,733 19,916,353
356,478 19,559,875
O
o
•d
>-3
Sd
O
e
t-1
H
w
0
^
M
a
d
td
w
H
1
Ohio
Indiana
Illinois
Michigan
Wisconsin
Minnesota
Iowa
Missouri
Total Middle
Western States
North Dakota..
South Dakota..
Nebraska
Kansas
Montana
Wyoming
Colorado
New Mexico
Oklahoma
Total Western
States
Washington..
Oregon
California
Idaho
Utah
Nevada
Arizona
Alaska
Hawaii
T o t a l Pacific
States
112,370 1,417,786
75,009
559,006
73,335 1,015, 660
59,450 1,259,019
610,553
93,365
661,638
66,176
262,663
73,372
521,570
66,553
456,961
143,427
336, 764
321,107
180,799
121,482
76,953
169,854
281,327
105,437
722,974
293,949
143,792
97,956
46,719
214,866
112,695
28, 617
350,170
50,486
18,734
10, 745
4,958
41,867
142,498
17,781
229,846
55,372
15,804
12, 759
8,807
36,318
619,630 6,307,895 1,807,347 111, 225 1,907,020
618,272
519,185
15,091
6,815
13,080
29,439
5,422
2,767
8,107
3,975
24,384
109,080
62,831
62,229
42, 628
94, 901
80,002
37,020
112,565
32,996
76,985
602,157
11,906
18,465
26,046
33,385
17,741
14,318
80,034
26,850
64,153
292,898
4,761
73,709
5,801
5,040
9,109
4,200
8,605
63
1,321
4,434
2
3," 020
2^065
1,845
7,706
35,484
37,273
5,622
1,751
68,220
9, 791
73,566
15
2,141
4, 968
1,000
17
11, 249
11,122
8,681
1,603
777
6,784
5,831
1,357
1,125
10,339
4,394
8, 553
10, 905
241,258
39,193
40, 763
144,154
1,002
72,769
20
913,825 214, 543
16,229
44,159
100
42, 597
17,619
1,960
16,170
56,274
200
99,633
54,581
695,644
8,234
40,347
12, 511
28, 574
175
7,192
21,100
11,126
94, 653
3,005
8,518
2,800
1,180
4, 772
2,179
69,325
888
7,041
75
665
71
18,904
187,273 5,505,104 1,323, 796 217,825
946, 891
21,313
488,823
15,909
237,875
131,001 4,136,547
2,897
97,316
7,418
144,843
1,136
50,696
2,499
179,560
306
22,954
146,490
4,794
584
142, 966
103,920
Total United
States (exclusive
of possessions)
1,691,239 44, 593,254 9,357,352 965,831 7,105, 535 3,284,120 1, 842, 340
Canal Zone (Panama)....
Guam
Puerto Rico
American Samoa..
Virgin Islands of the
United States
Total possessions
9,353
1,922
64,048
12,553
127
9,151
2,452
9,480
75,121
15,005
114, 774 1,511,813 1,536,434
502,397
583,258
135, 553
359,853 3,493,211 1, 485,158
936,258 1,258,538
105, 636
550,908
428, 538
126, 898
597,565
462,117
259, 755
270, 573
287, 726
494,945
689,855
859,444
185,030
186, 315 1, 782,444 8, 722,169 6, 731,624
38,158
28,182
82, 725
138,335
16, 011
821
9, 497
2,024
37, 913
79,845
126,474
304,838
279, 982
75,468
38,906
153, 552
34,229
127, 672
49,113
58,358
183, 702
243, 252
77,998
47, 111
307, 454
118,725
454,136
60,267
56,960
139,821
209,227
101,924
36,388
285,988
81,841
283,355
353,666 1,220,966 1, 539,849 1,255, 771
7, 649
439
26, 256
1, 576
72
8
23
36,023
341, 639
532,248
79,201
219,175
53,224
396, 503
483,068 4, 761, 592 2,648,223
78, 643
58, 344
71, 368
121,877
35, 982
136, 852
69, 727
10, 918
61, 379
228,076
99, 748
196, 481
26,399
583
29, 369
71,334
6,787
92,368
827, 855 6, 278,160 3, 805,093
127,659
26,539
229,643
74, 763
80, 747
48, 737
17,205
43,455
5,825,904
2,183,790
8,392, 749
4,421, 752
2,255, 699
2,373,506
1, 596, 483
2,911,991
648, 748 29,961,874
2, 634
3,378
11,605
6,308
3,438
482
12,962
4,026
35, 472
80,305
323,371
369,344
850,175
1,087,335
385,985
180, 706
1,062,987
329,973
1,196,935
5, 786,811
109, 762
38,394
218,596
72,832
51, 740
30,922
24,164
37,455
5, 716,142
2,145,396
8,174,153
4,348,920
2,203,959
2,342,584
1,572,319
2,874, 536
583,865 29,378,009
7,973
10,082
14,851
11,423
8,640
2,829
17,882
8, 531
16,580
98, 791
315,398
359,262
835,324
1, 075, 912
377,345
177,877
1,045,105
321, 442
1,180,355
5, 688,020
20,918 1, 762,452
10,231 1,074,031
148,913 14,323,590
340,300
1,800
553, 043
5,834
253, 656
1,817
767,336
10, 966
96,307
280
412,239
7,289
27, 712 1, 734, 740
8,621 1,065,410
244,392 14, 079,198
334,808
5,492
545,134
7,909
251,899
1,757
759,816
7,520
92,845
3,462
409, 757
2,482
208,048 19, 582,954
309,347 19, 273, 607
686,458 4, 991, 473 43, 228, 459 26, 664,301 2, 933,303 147,343, 665 2, 587, 708 144, 755,957
1,543
3, 476
226, 484
124
311
5,853
108, 054
151
56
1
7, 610
42
1,910
11, 272
470, 722
327
~1, 910
11,272
467,903
327
5,447
25,276
410
20
11,487
10
2
3, 019
2, 237
381
17, 369
26
17,343
5,447
25,276
410
11, 519
234, 646
116,606
8, 090
501, 600
2,845
498, 755
Total United
States and possessions
1,700,719 44,668,375 9,372,357 971,278 7,130,811 3,284,120 1,842, 750
6,826
6, 766
22,426
1,373
521
25,467
48,362
74,574
2, 819
686,458 5, 002,992 43, 463,105 26, 780,907 2,941,393 147,845, 265 2,590, 553 145, 254, 712
H
•d
O
W
H
o
H
O
o
K
w
o
r<
t-1
K
Ed
O
^
fej
o
c|
Ed
Ed
H
fcO
TABLE NO.
4 3 . — A s s e t s and liabilities of all active banks in the United States and possessions, Dec. 81, 1960 (including national, State
commercial, savings, and private banks)—Continued
to
to
[In thousands of dollars]
Capital
Location
Common
stock
Maine
New Hampshire
Vermont
Massachusetts
Rhode Island
Connecticut
23,331
9,301
12,435
156,594
24,640
70,237
Total New England States
New York
New Jersey
Pennsylvania.
Delaware
Maryland..
District of Columbia
100
75
979
200
296,538
150
1,354
1,354,528
165,025
401,154
16,035
54,342
32,092
45,433
5,805
394
2,903
60
Total Eastern
States.
2,023,176
VirginiaWest Virginia .
North Carolina
South Carolina
Georgia
Florida
Alabama..
Mississippi.
Louisiana
Texas
Arkansas
Kentucky
Tennessee
Capital
Individnotes
Pre- uals, partand
ferred nerships,
deben- stock
and cortures
porations
150
_
88,391
35,966
73,861
30,686
82,930
159,928
58,425
28,102
74,682
395,514
34,723
59,368
83,165
Total Southern
States
1,205,741
Ohio
Indiana
Illinois
300,620
106,696
509,408
55
51,238
3,412
1,060
177
Time deposits
Demand deposits
22
50
650
110
17
50
Certified Individand
uals, partBanks in
cashiers' nerships,
foreign
and corcountries checks,
etc.1
porations
U.S.
Government
States
and
political
subdivisions
Banks in
United
States
300,744
194,285
119,100
3,581,518
387,416
1,505,356
15,612
14,225
6,092
189,809
19,946
85,964
29,828
32,034
17,697
354,506
39,536
103,792
13,345
12,018
2,164
451,804
13,402
53,693
30,068
1,433
69
6,088,419
546,426
31,587
17
4,235
2,970
2,427
57,521
11,049
23,047
710,088
699,526
371,131
6,562, 595
932,436
3,126,345
U.S.
Government
772
99
86
6,990
710
1,558
7
10
3
720
146
35
921
331,648
577,393
101,249 12,402,121
10,215
24,079,024 1,472,919
3,323,410
172,622
7,402,282
368,005
481,028
33,385
1,373,247
74,164
1,032,535
34,031
1,083,419
418,078
420,591
24,524
156,284
119
4,330,391 1,251,791 2,647,277 29,665, 535
461
86,707
70,449 4,438,325
34,521
754,575
102,303 7,134,458
301,265
37
10,837
2,963
2,640
123,367
14,924 1,270,329
360,870
6,820
64,337
17,400
34,765
4,218
4,943
285
8,417
14,013
37,691,526 2,155,126
2,103,015
5,370,214 1,296,270 2,855,316 43,170,782
77,539
29,870
80,604
30,622
82,390
87,963
47,034
24,046
51,743
208,004
22,242
57,193
69,353
182,063
101,817
167,844
108,809
241,440
415,483
256,597
209,261
378,634
650,611
102,036
132,367
229,505
202,253
57,147
316,590
38,291
308,383
407,597
101,223
101,287
299,161
1,569,597
93,467
218,827
431,316
1,201,460
432,767
651, 550
169,939
716,081
1,254,895
602,999
328,931
681,613
2,329,847
311,850
486,630
1,020,376
1,482,836
640,120
1,569,795
638,607
1,506,935
2.528.462
1,091,847
683,217
1,487,383
6.869.463
749,050
1,358,775
1,496,160
3,438
232
406
5,244
275
248
7,596
18,574
344
2,851
31,192
9,061
18,153
7,880
20,530
41,102
10,077
6,054
24,721
167,322
8,149
12,054
16,042
States
Postal
and
savpolitical
ings
subdivisions
Banks Banks
in
in
United foreign
States countries
3,219
1,162
20
3,821
15
23,300
260 """26,"954
1,071
5,496 "l,~026~
38,069
1,321
26,954
17
479
611,802 227,628 1,133,198
63,884
219
25
135,976
4,191
23,100
12,640
27,689
23
1,450
66,641
1,400
851,991 232,061 1,157,773
16,135
370
7,526
5,255
4,848
5,728
2,155
1,317
1,898
14,903
128
2,695
1,622
1,196
279
2,690
5
1,125
1,361
48
61,830
1,968
110,181
24,526
57,125
132,079
7,322
2,759
28,858
479,664
3,877
32,005
53,381
3,169
68
2,200
2,610
734
2,362
1,142
4,150
1,073
11,411
330
72
1,466
1,000
904
372
1,103
444
15
221
1,800
4,600
100
177
1,959
22,102,650
868,603
3,176,467
4,145,139
39,208
372,337 10,188,938
64,580
8,859
995,575
30,787
7,500
100
244
175
25
500
5,430,061
2,401,997
9,007,086
325,178
117,939
509,636
535,106
448,606
702,876
398,448
160,797
1,478,968
8,857
827
53,558
101,471
50,296
188,350
4,325,439
1,565,390
5,282,181
2,090
3,813
6,082
796
1,206
950
180,346
58,721
211,450
1,187
1,737
5,750
55,068
Michigan
Wisconsin
Minnesota
Iowa
Missouri
218,595
99,200
115,682
76,641
188,523
Total Middle
Western States.. 1,615,365
North Dakota
South Dakota
Nebraska
Kansas
Montana
Wyoming
Colorado
New Mexico
OklahomaTotal Western
States
Washington..
Oregon..
California
Idaho
UtahNevada
Arizona
Alaska
Hawaii
Total Pacific
States.
Total United
States (exclusive of possessions)
19,130
16,396
47,702
64,015
22,598
6,373
58,729
20,120
75,445
330,508
72,563
56,394
525,404
17,903
22,987
9,686
34,419
6,218
24,681
770,255
6,241,583
275
2,865
2,050
255
435
370
1,804
6,675
378
807
100
100
1,150
1,150
3,687,496
2,113,487
1,889,835
1,688,328
3,328,256
428,013
183,585
248,177
207,069
380,095
244,502
208,728
396,234
177,559
832,218
"4,~444"
29,546,546 1,653,141
3,133,527
3,897,454
94,028
364,973
397,703
1,085,459
1,258,886
429,573
207,681
1,111,448
371,978
1,602,061
12,841
12,548
55,745
54,950
14,599
7,885
53,033
24,694
69,072
62,831
66,114
111,885
390,367
72,368
47,270
89,741
89,494
231,608
13,042
15,569
177,069
119,800
34,941
18,201
145,626
17,614
237,943
6,829,762
305,367
1,161,678
1,437,698
869,877
10,590,023
307,210
414,713
195,627
666,549
96,302
284, 548
63,788
30,737
450,796
9,916
15,637
9,844
19,420
8,837
25,731
196,506
145,114
778, 568
82,364
104,090
35,724
105,217
11,598
62,037
14,862, 547
634,706
1,521,218
56
1,010
232
194
522
212,687
27,304
39,689
2,785
61,388
2,037
2,657
21
15
2,088
578,273 21,155,935
21,876
4,966
794,370
15,492
497
761
163
1,685
373
1,069
955
2, 545
5,657
6
7
34
60
2
23
10
284
101
61,835
19,207
2,334
58,399
13,960
11,557
47, 111
38,100
4,027
45
539
527
256, 530
651
1,628
88,420
1,296,766
30
42,853
26,601
38, 984
27,220
93,117
370
310
34,397
479
~1,"710
1,237 1,615,619
35,606
235,985
779,805
423
110,705
2,835,735
13, 705
68,324
33,627
524,058
6,517
54,212
1,451
15,353
1,589
8,914
6,187
1,900
146, 544
22,
47,
463,
6,
11,
5,
23,
2,
5,
1,307,031
838,166
9,803,422
235,733
360,793
164,271
387, 755
50,358
231,675
4,963
284
34,875
1,154
1,221
1,761
1,530
11,676
9,643
714,045
165,196
588, 557 13,379,204
67,107
145
2
"7,"935
2," 628
237,
232,
230,
510,
256,
124,
554,
160,
14
203
11
499
27
27
447
150
700
55,918
13,400
"214,"875
50
6,000
53,369 14,650 117,121,450 5,948, 591 11,673,298 15,453,083 1,626, 712 4,606,437 103,132,715 244,124 17,910 4,552,154 315,918 1,484,130
1
107
17,711
83
"20l"
103
154
13,362
14
176
11,655
308
13,809
250,762
479
8,194
164
7,201
25
Total possessions-
42,014
248,823
16,991
95,431
17,820
7,906
7,541
224,780
402
8,811
2,384
5,494
3,501
83,981
748
1,369
9,121
227, 532
1,085
3,135
634
9,765
50
6,462
34,652
8,314
47
47
13,534
50
49,428
1,023
47
14,650 117,370,273 5,965, 582 11,768,729 15,470,903 1,627,020 4,620,246 103,383,477 257,658 17,960 4,601,582 316,941 1,484,177
1 Includes dividend checks, letters of credit, and travelers' checks sold for cash.
1,659
1,951
1,302
1,056
3,923
"216
41,435
100
6,283,597
3,917,914
1,969,849
1,779,834
949,667
1,366,661
85,232
36,134
40,764
32,954
43,072
5,465
5,525
14,731
17,412
6,997
3,230
19,884
8.310
29,151
Canal Zone (Panama)...
Guam.
Puerto Rico..
American Samoa
Virgin Islands of the
United States
Total United
States and pos-
14,199
3,750
8,393
262,118
114,710
104,765
72,552
146,243
TABLE NO.
to
44.—Assets and liabilities of active national banks, Dec. 81, 1960
ASSETS
[Dollar figures in thousands]
InvestBalances
ments
Real
with other
CorpoObligaU.S.
and
other
estate
Bank
banks,
rate
Other
tions
of
GovernLoans and
assets
inowned
premises
including
stocks,
bonds,
States
N u m . discounts, ment obdirectly
other
owned,
reserve
Currency
including
notes
and
and
poligations,
ber of including
representthan
furniture
stocks of and coin balances
debenlitical
direct and
banks
overing bank
bank
and
and cash
Federal
tures
subguarandrafts
fixtures premises premises
items in
Reserve
divisions
teed
or other
process of
banks
real estate
collection
Location
Maine
New Hampshire
Vermont
Massachusetts
Rhode Island
Connecticut
Total New England
States
New York
New Jersey
PennsylvaniaDelaware
Maryland
District of Columbia
Total Eastern States.
Virginia
West Virginia
North Carolina.
South Carolina
Georgia
Florida
Alabama.Mississippi...
Louisiana..
Texas
Arkansas
Kentucky
Tennessee
.
— —
Total Southern
States
365,106
333,681
222,878
4,391,053
571,888
1, 261,088
3,156
1
2,742
51, 811
24,137
7,145,694
112, 512
88, 276
153,981
234
20, 716
14, 293
170, 562
2, 601, 872
58,490
642,147
120,437
1,478,159
150
1,240 #?.
14,076
264, 582
16, 887
195, 750
3,487
1,328
3,123
5, 923
805
3,856
141, 847
#
671
' 13,878
153, 503
16, 731
34, 230
549
263
358
1,136
4,246
2,121
13, 697, 689
4,658,980
9, 681, 200
9,099
1, 273,883
944,139
76, 826
390,012
5,183, 750
380,602
8, 750
10, 942
157, 532
210, 831
30, 264,990
37,968
7,437
14,184
8,931
14,050
39,039
16,069
2,337
10,180
102,089
7,562
17,987
22,064
4,454
1,638
2,335
1,301
3,709
6,611
2, 976
865
4,056
20, 557
1,289
2,205
4,713
37, 608
17,902
24,399
15,088
19, 775
62, 553
32,478
9,409
27,417
110, 746
11,459
21,480
43,458
362, 257
131,217
245,399
134, 585
441,104
865,090
329,160
86, 685
507,205
2,787,843
164,932
218,880
572,954
28, 602
9,086
14,462
11,128
31,110
51,786
19,408
5,124
24,799
182,002
9,641
10, 897
26, 209
718
348
150
798
639
2,439
700
179
276
9, 793
360
197
1,595
1,715
477
3,947
160
1,993
12,115
3,363
500
2,163
10, 297
30
875
226
67
6
40
276
243
16
1,595
52,843
89
11,199
5, 963
1, 590
3,969
1,908
4,291
15,103
5, 787
1,308
8,683
30, 651
1,843
2, 818
5,676
2,089,475
758,200
1,087,376
712,130
1, 774,744
3,485,365
1,670,105
420,322
2,096, 625
10, 520, 690
715,895
1,083,943
2,554, 227
299, 897
56, 709
433, 772
6,847,311
424, 254
18,192
37, 635
66,600
89, 590
28,969,097
6,241
1,680
2,949
17,905
1,970
5,086
761
718
429
13,324
1,281
3,605
7,646
8,163
3, 674
55,047
9,092
29, 8S0
52,314
58, 260
26, 653
946, 643
50,547
223, 263
235
3, 513, 882
1,522,437
414,934
35, 831
20,118
113, 512
1,357,680
2, 766,131
1,174,472
2,331,603
2, 655
357, 616
270,977
995,030
553,384
826,307
449
77,522
23, 805
117, 497
68, 727
134, 767
267
20, 609
4,341
37, 687
8,342
26, 611
22
2, 495
1,669
919 14,119,586
6,603,454 2,476,497
346,208
129
77
36
25
53
119
69
27
42
468
55
87
75
502, 677
265,910
217,284
196,134
315,180
958,023
390,038
101,130
537,206
2, 228,256
160,640
303,309
546, 640
126, 276
40,598
59,411
43,886
78,662
200,119
143,336
46,044
127,832
591,301
73,409
55,120
145,594
6, 722,427 1,731, 588
1,262 12, 241,122
1,519
346
608
15,185
2, 922
3, 557
85,454
18,432
15,971
11,730
191,444
70, 213
107,144
&
50, 246
1,565
M
•d
O
S3
H
o
fe '330
80,374
80,183
53, 218
953, 579
110. 632
244,451
981,011
281,997
501,769
298,205
864,191
1,272,211
726, 547
166, 725
845,213
4,394,312
284,730
450,086
1,174,125
Total
assets
119
284
57
758
232
1,706
191,300
163,047
119, 830
2,103,087
315,465
621,153
6, 591, 638
2,045, 607
4,554, 248
4,082
509, 978
414,033
Other
assets
6, 262
4,984
2,914
42,422
7, 969
20,903
23
51
31
103
4
23
239
160
462
3
50
5
—-
138
45
816
1,413
Customers' liability on
acceptances outstanding
W
H
o
O
•d
H
S3
O
S
H
W
o
W
H
O
d
w
td
H
§
223
125
396
76
99
179
96
77
Ohio—
Indiana
Illinois
Michigan
Wisconsin
Minnesota
Iowa
Missouri
Total Middle West,
era States
1,271 16,086,581
North Dakota
South DakotaNebraska
Kansas
Montana
Wyoming
Colorado
New Mexico
Oklahoma
Total Western StatesWashington. __
Oregon
California
Idaho.
Utah _
Nevada
Arizona..
Alaska
Hawaii
Total Pacific StatesTotal United States
(exclusive of possessions)
Virgin Islands of the
United States
Total United States
and possessions.
2,917, 375
1,346, 871
5, 794,121
2,094,494
961,101
1,447.489
453, 875
1,071, 255
38
33
121
167
42
26
78
29
200
734
1, 790,872
983,078
3,570,907
1,351,449
627, 664
647,566
280,568
609, 776
440, 209
176, 299
944,140
461,103
127, 845
170, 623
82,006
128, 731
76,348
36,000
165, 291
15,907
26, 234
41, 295
13, 401
9,355
13,433
5,876
27, 274
8, 882
3,670
5,701
1,819
4, 611
99,581
59,479
114,807
70,396
27, 204
26,007
15,969
22, 834
1,067, 898
628,323
2, 531,917
811,939
458,371
703, 589
252,330
652, 948
76, 997
37, 706
61,218
48,581
20,168
30,481
7, 950
17,470
1,349
860
2, 772
2, 424
1,537
1,018
1,041
993
3, 965
55
5, 211
8, 958
978
15,073
1,107
2,070
9, 861,880 2,530, 956
383, 831
71, 266
436, 277
7,107, 315
300, 571
11, 994
37,417
10,862
8,048
8,474
21, 248
10,420
3,588
3,558
2, 812
21,968
613
807
2,206
2, 731
682
539
2, 747
861
4, 420
4,391
4,932
11,442
17,124
5,439
4,735
16, 811
9, 776
26,095
58, 975
68, 908
296,191
293,915
76, 624
69,151
344, 286
115, 487
672,153
5, 722
6, 571
10,166
14, 663
7,355
3,965
13,100
6, 810
29,318
60
229
467
392
398
578
743
279
1,080
250
565
1,861
469
16
5, 379
186
5, 953
100, 745
1,995,690
97, 670
4,226
14, 679
6,509, 734
3, 287,495
13,315,945
4,898,317
2, 263,795
3,103,312
1,113,120
2,529,187
42, 778
150,039
37,020,905
9
294
1,924
2,357
3, 820
2,924
2,246
2,100
8,044
1,500
4,745
393, 658
425,896
1,278,010
1,422, 251
461,305
328,374
1, 554,401
542,021
2,451, 777
303
29, 660
8,857, 693
1,799
1,448
140, 990
2, 666,371
1,940,482
19, 413, 219
521,416
517, 776
329, 788
1,066,909
193,741
331, 754
26,981,456
171, 200
198,332
565,035
553,672
192,028
128,876
720,005
225,367
956,114
111,212
113, 212
299,553
382,361
137,285
98,428
382,122
158,018
557,755
28,449
21,935
78, 795
132,752
28,803
16,414
57, 606
20,925
171,882
3, 710, 629
2, 239,946
557, 561
90,978
15, 606
26 1,311,436
10
907, 547
40 10, 278,351
10
242,978
7
273, 897
3
170,291
3
584,629
7
80,240
2
164,604
167,202
580, 280
167, 676
425,026
3, 804, 249 1,183,176
34,362
156, 213
33,163
94,836
30,077
79,691
51,591
170,957
8,994
62,303
17,926
82,152
14,645
44, 612
170, 235
10
2, 795
1,648
7,976
6, 549
2,361
4,535
3,093
70,837
825
982
485
2,016
244
612
31, 246
15. 634
151,407
6, 715
5,192
4,682
16, 727
7,102
7,901
498,524
332, 641
3,157,018
71,340
98,702
34,853
196,196
23, 664
45,013
44,684
31,491
273, 758
8,138
1,487
6,081
22,373
3, 217
5, 706
1,075
470
2, 252
24
29
151
210
411
77
483
114
56, 675
44
10,462
10,730
124, 271
811
493
1,667
8,089
214
5,358
108 14,013,973
5,455,707 1, 694,167
250, 831
83, 629
246, 606
4, 457, 951
396, 935
4,699
70,196
144, 667
162,095
324,154 1,720,924 26,949, 697 1, 685, 486
51,017
173, 611
463, 691
666,352 139, 239,835
4, 529 63,685,773 32,705,851 9, 405,703 1,407, 576
1
7, 895
5,872
3,008
4,530 63,693,668 32,711,723 9,408,711 1,407, 576
40,314
416
409
876
13
237
21,194
12,948
57,973
23,768
8,614
13, 594
3,041
8,907
513
38
147
324,184 1, 721,492 26, 953,014 1, 685, 524
51,164
30
568
3, 317
6,200
162
5, 759
803
386
157
173, 611
463, 691
21,032
666, 509 139, 260.867
Stf
H
•d
O
Sd
O
1-3
H
H
O
O
g
^
Sd
O
«S
td
o
w
M
o
d
Sd
td
M
§
to
TABLE NO.
44.—Assets and liabilities of active national banks, Dec.
1960—Continued
to
o>
LIABILITIES
[In thousands of dollars]
Demand
deposits
Location
Maine
New Hampshire
Vermont
Massachusetts ,
Rhode Island
Connecticut
_
.
,, .,
194,729
225,911
76,870
3,272,391
238,217
848,296
-
Total New England States
NewIYork
NewfJersey
Pennsylvania
Delaware
Maryland
__
District of Columbia
—
—
-
Total Eastern States
Virginia
West Virginia
North Carolina
South Carolina
Georgia
Florida
Alabama
Mississippi
Louisiana
Texas
Arkansas
Kentucky
Tennessee
-
-
--
,
—
-
—
--
Total Southern States
-
-
Time
deposits
126,139
62,534
121,236
534,575
270,075
265,802
Total
deposits
320,868
288,445
198,106
3,806,966
508,292
1,114,098
Bills payable, rediscounts,
and other
liabilities
for borrowed
money
Acceptances
executed
by or for
account of
reporting
banks and
outstanding
200
51,049
1,565
Other
liabilities
11,064
12,006
4,757
117,351
16,090
48,790
Capital
stock i
Surplus
12,426
6,509
6,975
102,188
13,490
32,671
13,019
17,873
7,557
232,256
25,540
48,659
Reserves
and reUndivided tirement
account for
profits
preferred
stock
7,026
7,152
4,172
61,920
6,896
15,986
703
1,496
1,311
19,323
15
884
4,856,414
1,380,361
6,236,775
200
52,614
210,058
174,259
344,904
103,152
23,732
8,281,971
2,381,973
5,166,296
3,933
846,521
675,210
3,592,442
1,847,221
3.304,993
4,280
313,507
188,865
11,874,413
4,229,194
8,471,289
8,213
1,160,028
864,075
800
1.100
40,595
147,201
671
14,443
468,821
103,880
168,017
20
13,742
10,740
384,397
99,363
251,004
175
23,649
19,517
585,653
161.358
558,420
575
57,444
35,283
227,944
53,335
166,574
112
11,834
11,631
8,460
10,079
10,858
4
6,050
2,893
17,355,904
9,251,308
26,607,212
42,495
163,451
765,220
778,105
1,398,733
471,430
38,344
1,172, 580
443,869
761,967
529,083
1,264,869
2,363,524
1,104,177
293,447
1,479,755
7,453,808
497,586
757,673
1,649,836
695,304
228,510
203,140
104,441
322,325
802,722
403,276
92,816
427,461
2,106,860
153,375
219,171
665,549
1,867,884
672,379
965,107
633,524
1, 587,194
3,166,246
1,507,453
386,263
1,907,216
9,560,668
650,961
976,844
2,315,385
1,650
296
226
500
483
67
6
40
308
299
18
1,692
54,292
7,500
89
11,199
40,125
12,902
30,915
25,213
40,504
49,801
27,838
3,440
21,653
73,709
6,001
12,326
34,608
49,635
18,071
26,292
13,875
39,718
98,782
40,098
8,090
42,491
307,030
18,345
26,515
54,505
92,988
37,380
51,351
29,762
70,373
120,386
58,958
21,856
92,455
368,069
24,865
47,670
93,734
32.778
14,129
12,005
8,433
21,494
36,430
27.779
337
29,948
126,470
13,899
18,564
33,123
4,189
3,043
1,639
1,317
15,146
11,462
7,680
318
670
29,969
1,824
1,935
4,173
19,772,174
6,424,950
26,197,124
12,654
68,236
379,035
743,447
1,109,847
375,389
83,365
1,136
275
1,950
w
M
•d
O
W
H
o
a
8
K
hj
H
td
o
P
H
w
0
^
a
H
1Ed
H
I
3,714,077
2,055.752
8,545,129
2,752,839
1,330,424
1,992,089
771,974
1,895,692
2,128,129
902,261
3,421,069
1,708,122
736,147
804,407
245,581
414,054
5,842,206
2,958,013
11,966,198
4,460,961
2,066, 571
2,796,496
1,017,555
2,309,746
23,057,976
10,359,770
33,417,746
....
229,190
258,166
1,003,232
1,031,770
281,922
203,784
1,021,014
362,999
1,807,200
130,504
132,720
151,316
258,938
137,643
95,623
396,300
134,259
405,263
359,694
390,886
1,154,548
1,290,708
419,565
299,407
1,417,314
497,258
2,212,463
Total Western States
6,199,277
1,842,566
8,041,843
1,607,420
980,766
9,262,010
299,659
278,024
176,162
636,591
102,641
162,047
808,448
765,141
8,272,537
179,771
190,652
124,362
326,824
78,907
138,827
2,415,868
1,745,907
17,534,547
479,430
468,676
300,524
963,415
181,548
300,874
13,505,320
10,885,469
24,390,789
Total United States (exclusive of possessions)
Virgin Islands of the United States
84,747,065
6,989
40,144,424 124,891,489
19,362
12,373
Total United States and possessions
84,754,054
40,156,797 124,910,851
Ohio
Indiana
Illinois
Michigan
Wisconsin
Minnesota
Iowa
Missouri
-
—
-
—
-
-
..
-
—
Total Middle Western States
North Dakota
South Dakota
Nebraksa
Kansas
Montana
Wyoming
Colorado...
New Mexico
Oklahoma
-
-
Washington
Oregon
California
Idaho
Utah
Nevada
Arizona
Alaska
Hawaii
Total Pacific States.
1
See classification on pp. 250 and 251
14
513
36,150
40,509
416
409
879
13
237
133,336
72,053
168,663
83,694
39,030
52,357
6,866
24,599
164,897
67,312
367,845
97,701
42,369
78,816
23,215
64,318
272,577
129,096
530,747
183,955
79,970
110,307
38,425
80,048
92,376
51,839
147,640
64,478
29,788
59,179
24,686
45,481
3,815
9,182
58,193
7,112
4,705
4,938
1,985
4,758
42,976
580,598
906,473
1,425,125
515,467
94,688
6,895
2,049
1,400
9
435
6,430
294
6,141
6,494
9,510
10,417
9,155
4,263
18,478
6,630
17, 553
8,290
8,135
29,583
33,406
10,993
4,528
38,480
14,070
60,250
12,382
13,479
43,463
55,812
11,788
12,172
52,815
14,300
86,766
6,302
6,455
29,963
27,903
8,090
6,782
25,467
4,605
63,786
649
447
4,048
1,956
305
1,222
1,847
4,723
4,235
303
88,641
207,735
302,977
179,353
19,432
1,819
1,448
143,288
63,110
46,015
359,254
12,375
10,075
6,100
22,099
4; 868
8,600
88,260
57,130
617,794
14,707
19,815
10,200
40,701
3,475
U,800
48,726
50,719
252,140
5,704
6, £73
5,009
9,848
2,041
3,862
1,586
44
47,002
39,263
499,076
5,690
10,257
7,890
27,942
1,232
4,398
7,120
3,510
2,180
65
2,518
577
2,176
146,985
642,750
532,496
863,882
384,822
19,732
110,590
474,565
2,666,302
221
3,342,515
335
5,445,468
675
2,029,613
439
279,293
1'10,590
474,565
2,666,523
3,342,850
5,446,143
2,030,052
279,293
953~
340
375
37,832
200
17,409
386
W
•d
C
»
H
C
I
1
•3
W
O
t*4
t
H
»
O
»
w
H
I
to
TABLE NO.
4 4 . — A s s e t s and liabilities of active national banks, Dec. 31, 1960—Continued
[In thousands of dollars]
fcO
Loans and discounts
Real estate loans
Secured
by
farm
land
(including
improvements)
Location
Maine.
New Hampshire
Vermont
Massachusetts Rhode Island
Connecticut—
Total New England
States
New York
NewlJersey.
Pennsylvania
Delaware..
Maryland
District of Columbia
Total Eastern States.
VirginiaWest Virginia
North Carolina.—^
South Carolina
Georgia
Florida
Alabama
Mississippi
Louisiana
Texas
Arkansas
Kentucky
Tennessee
Total
2,745
1,168
7,633
2,379
1,244
1,072
...
Southern
Secured
by residential
properties
(other
than
farm)
26,948
38,123
142,843
118,038
126,998
Secured
by
other
properties
15,535
8,285
9,1
130,890
25,728
36,901
Loans to financial institutions
To domestic
commercial
and
foreign
banks
5
11,004
Other
6,311
4,842
119
139,628
18,537
20,769
Loans for purchasing or carrying securities
To
brokers
and
dealers
in securities
141
2,144
31,229
786
16,316
Other
1,876
875
1,213
9,056
313
3,409
Loans to farmers
Directly
guaranteed by
the
Commodity
Credit
Corporation
90
Other
loans to
farmers
(excluding
loans on
real
estate)
OO
Commercial and
industrial
loans
(including open
market
paper)
69,461
3,154
57,052
8,466
20,821
10,509 1,092,430
745
97,865
3,809
185,047
Other
loans to
individuals for
personal
expenditures
50,891
58,400
33,678
538,710
46,294
214,107
All
other
loans
(including
overdrafts)
4,015
2,796
1,440
51,083
8,916
27,113
w
Total
gross
loans
194,483
165,664
121,194
2,159,851
318,466
635,541
Less
valuation
reserves
3,183
2,617
1,364
56,764
3,001
14,388
•d
Net loans
o
w
^
o
191,300
163,047
119,830
2,103,087
315,465
621,153
H
o
o
g
hd
W
489,619
227,035
11,009
190,206
50,616
16,742
90
33,522 1,522,676
942,080
95,363
27,001
813,686
11,528
670,218
65,700 1,010,620
604
1,915
11,791
88,017
137
85,079
239,659
188,447
352,728
278
49,366
45,627
54,757
4,824
27,341
357,139
68,594
218,420
421,267
44,459
37,602
61,377
15,485
28,956
50
351
500
!, 508
36,356
51,290
2,673
26,271
2,137
825
60,271 3,118,021 1,349,358
474,486
563,198
14,923
984,347
79,959 1,707,407
359
481
330
154,369
124,613
9,918
135,132
86,572
29
291,963
36,649
124,027
115
10,411
10,308
116,761 2,669,535
876,105
89, S
731,799
509,484
134,226
1,226
165,430 5,589,774 3,108,569
473,473 14,466,312
2,120
50
11,075
18
295
4,900
200
2,100
1,951
2,092
16,749
1,665
9,842
4,840
8,769
16,604
11,048
1,542
15,726
107,580
3,121
3,096
19,278
6,615
4,866
9,123
5,379
19,976
37,032
7,747
1,764
9,314
213,453
1,641
3,418
18,811
106
150
2,706
36,530
6,085
29,151
18,946
73,745
86,144
42,229
5 ,f~~
75,647
255,336
8,974
33,570
97,298
12
100
157
45,085
3,264
591
1,644
29,377
267,373
3,548
60,317
9,995
230,131
4,813
120,773
9,812
333,272
16,676
467,390
22,301
297,246
6,484
64,962
12,063
391,131
213,653 2,154,594
22,687
108,135
31,500
134,125
24,058
539,876
21,749
2,376
11,273
8,870
24,906
22,017
20,802
5,550
65,547
147,413
3,105
8,874
23,455
27,657
769,543
219,860
339,139
64,870
406,967 5,169,325 3,380,833
16,241
23,397
4,f"
7,938
2,769
7,871
6,605
9,694
3,f"
4,672
30,515
9,142
17,296
12,917
201,172
77,153
20,421
17,313
54,750
108,899
59,908
12,201
63,074
169,428
21,715
50,311
70,597
23,697
22,789
21,574
36,027
102,894
34,509
14,958
59,473
164,789
20,546
32,091
48,655
141,667
926,942
651,650
13,526
318,678
103,471
149,544
98,027
292,071
426,035
240,475
51,310
155,393
977,718
85,952
142,884
339,275
3,595,199
81,317
3,513,882
6,794,549 202,911
2,092,811
47,204
4,637,458
83,210
4,082
515,095 " 5 , 1 1 7
422,317
8,284
6,591,638
2,045,607
4,554,248
4,082
509,978
414,033
993,514
288,088
511,282
303,707
875,020
1,295,196
746,171
170,850
854,148
4,481,656
288,282
457,906
1,198,570
365,937 12,464,390
346,726 14,119,1
12,503
6,091
9,513
5,502
10,829
22,985
19,624
4,125
8,935
87,344
3,552
7,820
24,445
981,011
281,997
501, 769
298,205
864,191
1,272,211
726,547
166,725
845,213
4,394,312
284,730
450,086
1,174,125
223,268 12,241,122
o
tr1
t-1
H
W
O
^
H
0
Cj
td
w
H
1
Ohio.
Indiana
Illinois
Michigan.Wisconsin
Minnesota
Iowa
Missouri
Total Middle
Western StatesNorth Dakota
South Dakota
Nebraska
Kansas
Montana
Wyoming
Colorado
New Mexico
Oklahoma
Total Western
States
Washington
Oregon
California
Idaho.
Utah
Nevada
Arizona
Alaska
Hawaii
Total Pacific States.
Total United
States (exclusive
of possessions)....
Virgin Islands of the
United States
Total United
States and pos-
678,441
316,238
623,241
544,310
237,263
296,520
79,553
143,548
172,573
85,707
219,354
145,280
52, 766
62,709
24,117
45,579
65,989
5,500
2,040
9,104
2,065
8,461
165,915
96,506
490,469
168,872
106,169
93,523
24,515
109,717
42,227
27,532
242,982
39,326
12,192
10,131
3,269
23,037
31,069
13,907
140,254
15,053
6,100
8,220
2,980
13,489
3,711
2,074
10,845
451
499
8, 956
9,657
31,030
49,455
850, 751
36,808
378,049
181,284 2,754,401
20,402
560,737
21,442
269,386
83, 790
519,042
98,011
105,143
52,869
361, 717
164,278 2,919,114
808,085
97,858 1,255,686
48,688
22,704
36,904
11,434
13,417
12,116
10,241
8,774
3,298
2,099
6,584
11,017
2,092
1,508
5,442
2,171
17,286
40^287
42,161
27,226
38,539
40,475
27,106
78,445
23,105
60,468
8,475
12,529
20,126
15, 717
9,494
10,430
59,321
16,319
54,669
51,497
377,812
207,080
4,699
400,696
231,072
67,223
544,061 5, 799,226 3,671,887
~ ~ 1,720
15
6,736
1,321
32,209 """"I,"981
4,369
32,461
4,760
2
2,769
1,000
1,517
17
59,669
51
10,599
7,577
10,762
72,092
2,065
8,681
1,160
464
6,427
2, 579
187
865
4,271
3, 971
7,468
11,855
8,665
38,085
59,933
5,922
380
5,752
1,308
21,579
28,824
48,465
175,060
119,295
30,175
23,520
112,490
20,138
78,183
7,808
216,750
37,815
27,392
153,479
16,585
234,588
12,468
182,899
92,946 3,087,134
1,424
85,413
2,535
76,097
560
37,900
2,080
147, 515
59
20,420
1,351
55,122
80,384
1,000
56,093
582,964 195,905
10,963
22,265
28,416
11,797
1,960
13,830
21,087
200
96,780
51,912
474,089
6,954
17,983
10,115
21,524
102
3,184
19,450
11,067
47,300
3,001
7,355
2,800
1,180
4,241
126
26,254
667
28
528
4,043
1,960
30,955
302
5, 537
69
665
44
11,576
130,008 3,927,088
827,799 199,065
682,643
92,681
55,151
31,324
620,452 11,310,110 3,597,754 433,327 3,846,627 1,311,152
803,722
127
4,967
858,621
369,310
983.889
570,678
209,043
320.890
93,902
265,554
796
620,579 11,315,077 3,598,550 433,327 3,846,627 1,311,152
8
2,978,569
1,369,629
5,953,699
2,133,006
986,570
1,467,606
463,072
1,084,755
477,720 16,436,906
37.698
42,959
153,894
156,492
42.699
36,780
223,886
87, 774
401,711
40,566
38,803
102, 520
111, 976
60,307
28,657
165, 877
55,985
211,039
1,930
2,708
10,082
3,112
1,151
304
5,853
2,486
34,551
175,828
205,589
575,515
560,250
196,273
131,084
731,656
231, 596
969,792
636,150 1,183,893
815,730
62,177
3,777,583
61,194
22,758
159,578
38,512
25,469
20,117
9,197
13,500
2,917,375
1,346,871
5,794,121
2,094,494
961,101
1,447,489
453,875
1,071,255
350,325 16,086,581
4,628
7,257
10,480
6,578
4,245
2,208
11,651
6,229
13,678
171,200
198,332
565,035
553,672
192,028
128,876
720,005
225,367
956,114
66,954
3,710,629
67,696
487,089
305,325
45,396
185,140
360,120
384,560 3,499,833 1,928,046
33, 787
55,238
47,680
15,825
55,863
69, 723
4,448
51,223
35,270
89,043
159,984
147,101
54
24,208
24,490
3,193
24, 736
41,995
19,765 1,336,946
7,149
914,330
115,873 10, 465,859
246,952
1,523
277,203
3,992
171,193
392
590,244
7,387
83,387
180
165, 780
2,808
25,510 1,311,436
6,783
907,547
187,508 10,278,351
3, 974
242, 978
3,306
273,897
902
170,291
5,615
584,629
3,147
80,240
1,176
164,604
644,002 4, 713, 301 2, 789,763
159,069 14,251,894
237,921 14,013,973
318,212 2,430,132 23,978,195 14,708,862 1,633, 739 64,992,284 1,306,511 63,685,773
2
803,722
72,419
20,794
204,087
50,963
56,253
42,605
9,619
20,980
1,192
726
111
7,921
26
7,895
318,212 2,430,134 23,979,387 14, 709,588 1,633,850 65,000,205 1,306,537 63,693,668
fcO
CO
tO
Oi
T A B L E N O . 44.—ASSESS
o
and liabilities of active national banks, Dec. 81, 1960—Continued
[In thousands of dollars]
Capital
Location
Maine
New Hampshire
Massachusetts
Rhode Island
Connecticut
TotalJNew England States.
New York
New Jersey
Pennsylvania
Delaware
Maryland
District of Columbia
Total Eastern States
Virginia
West Virginia
North Carolina
South Carolina
Georgia
Florida
Alabama
Mississippi
Louisiana
Texas
Arkansas
Kentucky
Tennessee..
Total Southern States
Common
stock
Demand deposits
IndividPreferred uals, partstock
' nerships,
and corporations
12,426
6,509
6,175
102,188
13,490
32,671
800
173,459
States
Banks
U.S.
and polit- Banks in in forGovern- ical sub- United
eign
ment
divisions
counStates
tries
163,770
171,617
63,747
2,463,549
192,822
732,689
8,105
12,911
3,279
138,028
10,099
43,494
12,351
27,417
7,478
219,708
25,908
37,530
8,629
11,480
1,268
387,077
2,814
24,338
800
3,788,194
215,916
330,392
435,606
384,229
99,126
250,954
175
23,649
19,517
168
237
50
6,087,461
1,928,268
4,173,173
3,811
625,358
591,913
336,640
101,741
224,963
40
47,590
21,570
777,650
455
13,409,984
858,734
330,597
559,442
399,415
828,029
1,613,010
795,141
182,557
993,553
5,193,186
357,816
599,585
1,022,335
49,635
18,071
26,292
13,875
39,718
98,582
40,098
8,090
42,491
307,030
18,345
26,515
54,505
743,247
200
200
13,733,400
w
a
^
Time deposits
17
o
Certified IndividStates
Banks Banks
uals, partand
U.S.
Postal and politin
in forcashiers' nerships, Govern- savings ical sub- United eign
and corchecks,
ment
divisions States counporations
etc.1
tries
28,332
915
64
125,000
61,900
119,636
486,130
269,467
264,233
717
93
58
6,448
290
1,405
7
10
3
709
24
415
531
1,539
14,159
294
154
29,328
56,978
1,326,366
9,011
753
17,092
366,175
670,524 298,661
267,999
46,528
74
268,613
420,934 25,666
51
79,671 " "87,"786" " " " 7 7 5 "
111
44,363
5,120
522,510
37,363
52,947
31
5,341
12,133
3,154,113
1,811,347
3,206,313
4,260
302,041
180,301
12,474
4,052
3,556
597
33,329 197,066
24
156 "18,656
5,000
7,635
479
195,460
31,798
76,321
20
6,466
732,544
982,620 1,270,135 330,296
630,325
8,658,375
32,717
1,076
310,065
33,509
215,566
53,893
16,363
31,829
18,954
49,524
57,623
35,222
9,084
38,970
169,075
12,984
29,769
51,749
101,093
136,951
54,945
38,181
50,290
113,181
80,228
24,636
127,444
247,146
281,879
380,202
169,400
96,550
56,176
43,473
188,218
234,729
468,060 1,474,807
47,869
75,030
47,591
75,302
142,540
418,820
655,471
226,797
168,589
90,442
298,163
728,696
395,762
89,230
406,834
1,684,801
150,540
205,406
629,125
12,521
323
2,876
4,328
2,369
5,223
1,699
1,286
857
14,744
85
883
1,505
107
148
2
1,000
51
1,080
24
15
163
25,339
1,204
30,118
9,496
21,107
67,353
4,910
1,150
17,374
391,409
2,446
12,867
33,901
866
38
1,555
175
3
1,389
895
1,150
545
10,226
280
2,851
18,711
3,783
7,225
5,850
12,642
26,400
7,589
1,910
16,689
130,920
3,887
5,426
11,541
755
100
36,421
252,573
5,729,856
48,699
2,344
618,674
17,877
7,500
575,039 1,815,733 3,359,008
84
4,410
275
247
7,596
17,760
683
61
10
o
a
a
1,857
2,486
1,098
35,697
5,659
10,181
3,198
w
175
26,954
10
185
o
o
K
•d
26,954
450
£9
O
P
a
w
o
a
a
o
Cj
w
w
a
1,800
4,600
164,897
67,287
367,846
97,701
42,319
78,816
23,216
64,318
Ohio
Indiana
Illinois
Michigan...
Wisconsin..
Minnesota..
Iowa
Missouri
Total Middle
States
Western
North Dakota.
South Dakota.,
Nebraska
Montana
Wyoming
Colorado
New MexicoOklahoma
25
50
2,865,449
1,514,624
6,228,392
2,130,334
1,020,410
1,327,894
525,539
1,244,703
174,775
76,196
377,376
188,792
65,113
81,841
28,035
67,185
5,637
333,896
273,502
827
275,618
153,382
512,161 1,251,107 46,147
191,119
193,196 10,451
3,589
73,587
155,058
8,393
155,200
391,598
54,864
153,115
105,514
458,306 " 2,457"
60,818
35,105
129,946
38,947
12,667
27,163
10,421
17,527
2,035,629
860,231
3,236,975
1,594,841
719,478
787,006
243,128
395,035
1,170
3,626
6,018
1,239
1,894
1,276
1,034
3,094
160
1,061
910
30
857
68
53
28
90,103
37,228
121,598
110,835
11,179
16,036
1,366
13,847
1,067
115
750
1,177
2,589
21
7,769
77,501
332,594
9,872,323
19,351
3,167
402,192
8,290
8,135
29,583
33,406
10,993
4,528
38,480
14,070
60,250
193,382
200,670
707,186
679,166
216,985
143,712
804,715
256,226
1,308,552
8,937
7,597
40,348
33, 582
7,900
6,476
40,504
20,022
60,755
13,187
33,651
71,163
202,001
35,253
33, 571
52,732
63,376
183,576
10,125
16
12,732
173,545
46
106,865
18,207
17,511
108,333
145
17,198
231,694 " " " 2 I 6 "
3, 543
3,516
10,944
10,156
3,577
2,514
14,585
6,177
22,407
126,848
123,853
149,901
232,410
130,829
86,597
369,683
107,719
397,058
458
744
163
1,653
180
1,038
495
1,020
4,699
6
18
10
11
91
3,192
8,123
1,228
24,836
6,634
7,970
26,112
25,464
2,976
906,398
75
16,857,345 1,059,313 1,701,959 3,029,264
24
36
54,818
is5
2,050
54,968
3
45
439
207,735
4,510,594
226,121
688,510
696,210
423
77,419
1,724,898
10,450
196
106,535
487
Washington
Oregon.
California
Idaho
Utah..
Nevada
Arizona...
Alaska
Hawaii
63,110
46,015
359,254
12,375
10,075
6,100
22,099
4,868
8,600
1,288,562
757,565
7,515,006
222,755
203,616
134,690
505,423
84,497
115,661
58,151
24.735
317,803
8,241
8,321
6,730
14.736
7,871
9,652
172,066
120,904
648,306
61,703
39,861
31,483
76,163
7,314
24,252
5,791
63,213
1,855
30,862
287,847 119,432
2,525
20,973
430
7,072
13,442
942
8,036
1,930
19,637
44,845
373,616
4,435
5,253
2,829
19,755
2,017
2,516
790,748
691,558
7,069,926
178,612
173,261
114,490
294,661
44,371
84,812
4,943
254
33,218
1,140
1,175
1,751
1,510
11,616
7,085
9
14
184
11
489
1,558
73,265
942,119
8
15,727
8,121
24,626
22,900
45,210
290
50
27,412
W
532,496
10,827,775
456,240 1,182,052
428,270 136,080
474,903
9,442,439
62,692
764 1,133,534
27,752
218,288
36,754,257 182,920
8,300 2,588,092
87,579
523,276
5,244
47
47
8,300 2,593,336
87,626
523,323
Total Western States
Total Pacific States
Total United States (ex3,340,985
0W
elusive of possessions)
Virgin Islands of the United
States
335
Total United States and
3,341,320
1,530
63,127,292 3,265,173 6,701,266 9,218,493 610,049 1,824,792
3,971
1,530
151
2,725
142
63,131,263 3,265,324 6,703,991 9,218,493 610,049 1,824,934
7,035
36,761,292 182,920
27
20
10
10,900
199,678
6,000
1,710
^Includes dividend checks, letters of credit, and travelers' checks sold for cash.
K)
Oi
TABLE NO.
4 5 . — A s s e t s and liabilities of all active banks other than national, Dec. 31, 1960 {includes State commercial, mutual
and
private banks)
ASSETS
to
Oi
to
[Dollar figures in thousands]
InvestBalances
Real
ments
with other
CorpoObligaU.S.
estate and other
Bank
banks,
rate
tions of
Other
Loans and Governowned
assets inincluding premises
stocks,
Num- discounts, ment obStates
bonds,
other
owned,
directly
ber of including ligations, and po- notes and including Currency reserve
than
representstocks of and coin balances furniture
banks
litical
debendirect and
overbank
ing bank
and
and cash
Federal
subtures
guarandrafts
fixtures premises premises
items in
Reserve
divisions
teed
or other
process of
banks
real estate
collection
Location
Maine
New Hampshire
Vermont
Massachusetts
Rhode Island
Connecticut
Total New England
States
Total
Eastern
States
Virginia
West Virginia
North Carolina
South Carolina
Georgia
Florida
Alabama
Mississippi
Louisiana
Texas
Arkansas
Kentucky
Tennessee
Total Southern
States
Total
O
O
o
12,879
3,644
3,934
60,735
11,471
42,540
50,618
22,092
21,864
403,855
79,567
287,536
9,075
9,722
4,108
65,577
6,816
39,827
1,164
287
3,271
152
2,109
527
l, 155,669
3,599,011
438, 523
856,480
478,476
135,203
865,532
135,125
7,682
2, 662
2,677
43,240
15,720,280
2,563,506 2,447,451
279,588
391,761
832,326
497,522
81,018
42,350
110,059
101,799
16,007
441,386
30,189
62,134
12,098
3,751
343,835
65,605
118,533
11,959
36,731
11,117
9,626,454
446,069
1,164,176
141,756
209,839
128,567
420,707
56,282
87,265
11,846
19,760
7,259
10,972
705
5,115
896
371
61
46, 528
318
7,878
2,223
31
4,253
921, 665
100
1,673
488,898
24,058
35,764
3,288
50,166
3,897
62,637,459
4,808,196
8,849,436
997,680
2,103,685
734,930
767 44,067,309 13,624,169 3,612,945 3, 759,839
550,442
587,780 11,716,861
923,500
606,071
80,131, a
2,781
7,318,753
603,119
18,120
61,231
24,145
3,146
72,004
22,090
30,932
13,053
21,156
10,211
6,682
65,361
13,975
16,118
14,885
1,931
1,339
1,885
103
1,707
1,010
331
575
572
3,790
339
1,352
848
33,723
16,820
53,952
13,896
32,934
44,937
16,575
24,364
31,705
62,948
13,374
27,578
25,969
237,926
109.835
451,963
73,347
289,566
270,808
105, 547
203,438
235,660
642, 523
151,125
309,972
185.836
20,548
8,023
31,261
3,891
20,058
33,921
7,003
16,265
12,825
60,535
6,586
11,540
14,362
257
513
849
190
1,205
1,718
293
466
567
1,910
436
401
1,455
3,619
1,236
733
29
915
1,645
468
25
1,451
836
133
37
605
4,496,291 1,437,177
313,758
15,782
8,775
3,267, 546
246,818
10,260
11,732
226, 582
465,494
111,873
404,710
626,680
200,471
240,141
308, 531
670,195
169,158
420,670
252,806
h3
W
H
2,649
11
17
852
29,543
36,386
3,168
244,320
27,151
137,908
103,473
45,478
188,919
52,336
80,699
145, 558
68,718
163,490
140,513
225,946
71,828
48,820
101,399
^
855,256
760,442
359,174
8,481,221
1,009,620
4,254,567
69,827
32,829
4,613
332,876
89,902
326,433
1,028,932
1,642,150
273,719
575,811
194,577
w
1,741
664
606
31,565
1,917
6,747
32,575
13,177
17,593
195,703
24,067
155,408
597
957
256
o
o
210,743
164,741
59,711
2,217,445
181,682
764,689
725,193
273, 752
971,910
161,791
653,795
741,744
258,520
400,441
418,036
1,289, 551
275,634
633,655
514,731
Other
assets
436,704
476,023
242,693
4,922,268
586,628
2,491,353
176
105
147
120
349
190
169
166
148
539
182
268
222
—
Sd
H
hd
56
56
31
253
13
118
290 35,417,077
114 2,484, 589
248 4,394,900
416, 527
19
995,305
358,911
New York
New Jersey
Pennsylvania.
Delaware
Maryland
District of Columbia
Customers' liability on
acceptances outstanding
62
34
335
3,572
1,847
14,480
689
4,762
7,578
1,085
2,415
1,730
5,394
434
2,035
1,969
1, 553,367
688, 571
2,253,951
440,237
1, 521,751
1,889,541
680,167
1,062,059
1,158,319
3,029,434
703,022
1,472,212
1,115,200
2,949
47,990
17,567,831
501
2
228
47
445
K
•d
•a
F
H
Sd
O
H
0
d
td
td
H
1
g
§
o
I
Ohio
Indiana
Illinois.—
Michigan
Wisconsin.
Minnesota..
Iowa
Missouri..
__.
Total Middle Western
North Dakota.
South DakotaNebraska.__.__
Kansas
Montana
Wyoming
Colorado
New Mexico._.
Oklahoma
Total Western
States
Washington.
Oregon
California
Idaho
Utah
Nevada
Arizona
Alaska
Hawaii
Total Pacific States.
Total United States
(exclusive of possessions).
Canal Zone (Panama)
Guam
Puerto Rico 3
American Samoa
Virgin Islands of the
United States 4
Total possessions...
Total United States
and possessions-..
364
322
570
304
464
511
575
549
2,798,767
798, 525
2,380,032
2,254,426
1,242,858
895,095
1,118,444
1,803,281
416,553
95,836
485,567
477,997
192,542
116,759
198,233
305,495
36,609
18,347
128,713
14,449
37,489
106,777
17,437
50,672
10, 547
1,237
24, 537
6,365
1,359
7,071
1,184
17,921
103,397
41,859
65,515
81,619
46,965
25,362
37,643
57,054
932,894
294,983
960,215
569,395
366,099
182,448
350,024
850,980
64,312
16,396
39,540
63,262
25,367
17,388
14, 778
33,862
420
644
2,584
1,380
1,030
401
280
702
2,611
1,672
16,992
488
5,294
295
2,184
2,289
376
37
3,824
338
95
60
11
431
21,892
3,993
27,054
14,706
28,247
4,842
1,719
12,176
6,048,411
2,036,230
6,081,542
4,840,929
2,824,207
1,879,658
2,346,389
4,294,297
8,890,115 2,288,982
410,493
70,221
459,414
4,507,038
274,905
7,441
31,825
5,172
114,629
30,351,663
1,660,033
762,701
1,946,969
1,356,504
876,862
523,160
604,452
1,159,434
W
3,659 13,291,428
118
141
305
420
79
29
111
26
189
144,198
160,930
270,289
522.240
185,317
49,001
325,100
96,075
224.241
166,529
141,893
183,363
333,762
135,251
48,463
167,307
69,301
157,691
60,093
22, 574
27,185
151,500
30,846
6,908
36,164
17,120
49,619
27,275
10,216
4, 977
5,477
9,342
987
2,194
3,873
4,097
25
158
722
517
514
94
1,158
57
131
38, 890
53,253
92,403
200,449
71,954
25,054
120,373
37,005
97,605
3,099
1,718
3,229
7,582
4,940
1,096
5,014
4,398
2,944
18
98
54
324
194
68
348
110
108
1,418
1,977,391
1,403, 560
402,009
68,438
3,376
69, 541
736, 986
34,020
1,322
65
42
77
22
43
4
7
6
10
423,304
157,863
3,800,847
91,830
271,237
81,608
175,187
12,605
245,153
202,532
100,498
1,767,784
45,483
153,821
44,942
71,078
11,203
119,946
36,475
26,419
499,390
11,896
28,952
4,575
20, 527
379
25,344
42,749
4,115
36,859
1,191
1,982
451
13,536
205
1,965
547
87
8,364
167
735
149
670
1,780
8,430
5,902
64,873
3,152
7, 726
3,130
6,844
918
14,930
59,883
39, 220
1,126,406
28, 976
109,916
12,975
49,988
5, 538
54,468
6,863
5,351
81,883
2,207
5, 578
3,515
6,657
381
7,483
70
200
678
552
100
1
406
49
284
276
5,259, 634
2,517,287
653,957
103,053
12,499
115,905
1,487,370
119,918
9,428 81,070,184 34, 530,433 8,833, 593 5, 512,061 1,130,796 1, 766, 618 22,581,333 1,413,905
(0
(2)
10
1
1, 910
11,272
467, 903
327
1, 802
883
21,303
72
1,147
3,784
52,476
159
12
232
7,869
4
435
382
938
864
1,021
85
3,139
616
1,102
61
29
1
229
11
16
2,256
26
466
3,095
29, 529
62,994
47,165
131,611
963,827
438
1
765
9, 441 81, 561,044 34.631.618 8. 871.899 5. 59,9.281 1.132.092 1. 791.483 22.639,202 1,422,131
47, 603
131,612
964, 592
9, 448
490, 860
6
101
805
303
109
101,185
38,236
17,220
1,296
24, 865
57, 869
10,385, 552
1,029
21,066
8,226
2
13
1,195
783,498
341,022
7,479,911
186,418
583,986
151,810
350,684
31,365
476,858
2,340
765
17,214
4,708,320
2,465
6
1,740
1
38, 236
445,483
396,272
590,897
1,239,156
445, 532
133, 799
673,608
234,455
549,118
8, 582
1,954
1,255
51,385
484
1,309
464
3,326
81
2,736
44
647
112
12,986 " "28,"456"
480
2,630
71
367
99,004
2,181
1 2 branches of a national bank and 2 branches of a State member bank in New York.
2 Branch of a national bank in California.
3 Asset and liability items include data for branches of a national bank and a State
member bank in New Yorka
4,860
5,021
7,736
16,212
6,142
2,027
10, 555
5, 874
11,114
883, 506 158,865,032
16,617
14,296
28,918
59
21,488
30,538
735,251
2,802
6,143
16.915
66,033
806,994
949, 539 159,672,026
«Asset and liability items include data for branches o a State member bank in New
York.
NOTE.—Figures obtained from the Federal Deposit Insurance Corporation.
«
O
W
O
a
o
o
g
3*
O
tr»
t4
H
W
O
a
H
O
d
w
w
H
3
fcO
TABLE NO.
4 5 . — A s s e t s and liabilities of all active banks other than national, Dec. 81, 1960 {includes State commercial, mutual savings, and
private banks)—Continued
fcO
Oi
LIABILITIES
[In thousands of dollars]
Location
Maine
Massachusetts
Rhode Island
Connecticut
- -
Total New England States
New York
New Jersey..
Delaware
Maryland
District of Columbia
—
Total Eastern States
Virginia
West Virginia
North Carolina
South Carolina
Georgia
Florida
Alabama
Mississippi
Arkansas
-
—
-
-
-
_
Tennessee
Total Southern States
—
-
Bills payable, rediscounts,
and other
liabilities
for borrowed
money
Acceptances
executed
by or for
account of
reporting
banks and
outstanding
73
Demand
deposits
Time
deposits
Total
deposits
169,052
29,621
70,610
1,392,835
234, 565
923,625
587,947
638,283
253,820
6,086,244
664,288
2,868,658
756,999
667,904
324,430
7,479,079
898,853
3,792,283
108
1,975
250
625
412
2,820,308
11,099,240
13,919,548
- 26, 582,850
1,689,754
3,915,981
548,841
898,105
480,032
28,080,486
2,659,450
3,998, 579
309,910
992,968
187,947
34,115,563
Other
liabilities
Capital
stock *
Surplus
Reserves
and retirement
Undivided account for
preferred
profits
stock and
capital
notes and
debentures
31,866
32,927
10,184
292,501
10,846
119,746
2,340
5,046
1,599
35,049
847
26,816
2,952
11
17
11,489
9,485
4,139
166,401
23,791
77,047
11,005
3,017
6,439
54,606
11,150
37,566
41,376
40,088
12,133
450,008
64,122
200, 680
3,370
3,053
292,352
123,783
808,407
498,070
71,697
54,663,336
4,349,204
7,914,560
858,751
1,891,073
667,979
12,853
300
15,105
100
575
954,301
100
1,673
1,636,002
93,634
129,994
39,856
34,639
15,357
1,015,958
74,370
150,210
15,860
30,748
12, 575
3,184,217
211,354
469,208
72,616
96,082
26, 750
989,421
42,900
107,730
10,024
45,466
9,766
181,371
36,334
60,956
473
5,040
2,503
36,229,340
70,344,903
28,933
956.136
1,949,482
1,299,721
4,060,227
1,205,307
286,677
806,741
394,146
1,391,251
295,126
895,215
1,122,327
402,876
730,666
769,483
2,029,763
477,358
1,021,887
595,391
589,486
206,942
571,007
97,894
457,588
593,703
210,390
244,341
288,153
734,668
163,254
302,246
411,617
1,396,227
601,088
1,962,258
393,020
1,352,803
1,716,030
613,266
975,007
1,057,636
2,764,431
640,612
1,324,133
1,007,008
2,170
650
1,032
500
37
1,200
202
918
70
625
32
200
800
154
335
26,417
11,065
110,278
3,053
26,730
23,956
5,081
8,595
10,411
16,851
2,102
14,443
15,744
39,816
17,895
47,591
16,861
43,389
61,796
18,327
20,122
32,208
88,484
16,378
32,903
28,660
62,921
35,137
101,827
18,313
56,594
60,324
24,872
53,506
36,222
92,341
21,068
65,626
31,824
24,057
19,168
23,415
7,238
29,727
21,229
17,101
2,458
17,547
53,852
20,045
31,710
27,147
1,759
3,568
7,049
1,250
11,958
4,117
1,318
1,225
4,178
12,402
2,785
3,043
3,682
10,932,230
4,871,289
15,803,519
8,436
3,117
274,726
464,430
660,575
294,694
58,334
62
501
2
513
889
228
47
448
w
K
•d
O
W
^
O
3
H
o
O
•"d
H
W
O
tr1
H
W
O
^
H
O
d
w
sd
«
3
Ohio
Indiana.
Illinois
Michigan
Wisconsin
Minnesota
Iowa
Missouri
-
Total Middle Western States.
North Dakota
South Dakota
Nebraska
Kansas
Montana
Wyoming
Colorado
New Mexico
Oklahoma
Total Western States
Washington
Oregon
California
Idaho
Utah
Nevada
Arizona
Alaska
Hawaii...
Total Pacific States
Total United States (exclusive of possessions)
Canal Zone (Panama)
Guam
Puerto Rico
American Samoa
Virgin Islands of the United States
Total possessions
Total United States and possessions
i Includes capital notes and debentures.
3,085,044
1,124,710
3,395,345
1,968,721
1,329,970
696,079
1,406,488
2,838,636
2,381,729
728,606
2,140,412
2,426,231
1,266,774
1,016,671
708,136
1,020,228
5,466,773
1,853,316
5, 535,757
4,394,952
2, 596,744
1, 712,750
2,114,624
3,858,864
547
335
3,917
260
1,395
35
860
176
376
74
3,878
338
95
60
11
448
90,241
25,317
69,470
77,773
18,112
12,963
7,300
56,008
135,998
39,653
142,063
123,759
59,259
37,928
53,861
124, 850
267, 654
66,929
176,882
153,058
89,723
65,215
77, 880
128, 559
83, 539
47,015
94,014
75,891
53,181
37,431
82,744
117,415
3,283
3,591
55,561
14,898
5,698
13,276
9,109
7,977
15,844,993
11,688,787
27, 533,780
7,525
5,280
357,184
717,371
1,025,900
591,230
113,393
229, 978
239,293
441,703
809, 645
276, 556
80,483
398,863
149,091
362,851
169,131
119,824
82,197
311,367
132,940
41,219
206,463
66,824
134,617
399,109
359,117
523,900
1,121,012
409,496
121,702
605,326
215,915
497,468
1,939
1,180
4,478
4,759
4,158
501
13,293
1,908
4,225
10,840
8,261
18,119
30,609
11,605
1,945
20,249
6,050
15,195
13, 785
11,316
22.037
46,235
11, 943
5,150
18, 758
5,952
15, 659
15,240
13,444
18,324
32,975
8,040
3,892
11,455
2,850
15,002
4,570
2,154
2,164
1,830
290
609
2.779
1.780
882
2, 988,463
1,264,582
4, 253,045
36,441
122,873
150, 835
121,222
17,058
187,609
148,430
3,691,680
112,639
321,814
72,107
201,661
17,936
227,073
518,953
162,053
3,112,001
57,157
214, 764
68,271
107,472
10,374
198,244
706, 562
310,483
6, 803, 681
169, 796
536, 578
140,378
309,133
28,310
425,317
1, 029
9,453
10,379
167,300
5,528
12,912
3,586
12,320
1,350
16,081
38,439
9,688
231, 991
5,763
19, 292
4,379
15, 606
810
16, 772
13,640
4,376
111, 767
2,506
5,892
1,103
3,521
485
8,574
5,910
481
5,514
389
137
76
9,450
5,040
130, 709
2,436
9,175
2,364
8,874
15
7,423
4, 980, 949
4,449,289
9,430,238
1, 011
29, 862
175,486
238,909
342, 740
151,864
15,442
69,602, 527 141,285,033
56,121
997, 448
3,085,671
2,967,087
7,048,684
2,862,387
562, 601
41, 435
100
144
41, 679
15, 481
3, 610
2,832
3,008, 766
7,064,165
2, 865, 997
565,433
71, 682, 506
800
1,875
1, 736
1, 748
687
6,846
575
160
44
28, 789
200
16,928
13, 580
345, 529
1,385
8,771
4,504
16,217
272,975
1,085
7,690
21,432
29,797
618, 504
2,470
16,461
17,660
765
56
741
35,235
33
238
386,193
392,471
688, 664
17, 660
765
36, 303
72,068, 699
69, 904, 998 141, 973, 697
(See classification on pp. 258 and 259.)
73, 781
998, 213
3,121, 974
15, 456
25
3, 497
41
72
1,030
395
1,586
2,699
133
W
H
hd
O
W
O
a
a
w
HI
o
W
tr1
H
td
0
a
1
0
CI
td
Sd
H
1
to
Oi
Oi
TABLE N O . 4 5 . — A s s e t s
and liabilities of all active banks other than national, Dec. 81, 1960 (includes State commercial, mutual savings
and private banks)—Continued
to
d
[In thousands of dollars]
Loans and discounts
Real estate loans
Location
Secured
by
farm
land
(including
improvements)
Maine
New Hampshire.
Vermont
Massachusetts. _.
Rhode Island
Connecticut
• Total New England States
New York
New Jersey.
Pennsylvania
Delaware
Maryland
District of Columbia
Total Eastern
States
Virginia
West Virginia
North Carolina
South Carolina
Georgia
,
Florida.
Alabama
Mississippi
Louisiana
5,791
5,166
343,847
10,595
136,637
6,384 3,627,718
447
368,338
7,192 1, 867,340
Texas
Arkansas
Kentucky
Tennessee
Total
Southern
Secured
by residential
properties
(other
than
farm)
To domestic
Secured comby
merother
cial
properand
ties
foreign
banks
45,027
92,248
28,340
494,483
41, 550
143,""
150
Other
2,537
14
749
62,820
12,919
15,204
To
brokers
and
dealers
in securities
599
Other
697
54,991
2,171
8,612
1,060
1,077
2,650
12,506
559
8,985
94,243
844,856 10,336
35, 575 6,604, 7
67,070
34,064 16, 769,252 2,181,
462,722 1,650,023 1,413,513
67,827
3,144 1, 360,994 191, 733
97,968
24,388 1, 608,188 281, 742
2,805 213,700
44,245
21,109
11,447
114,321
75
2,788
38,170
42,471
18,227
448, 722
150
20,156
94, 906
24,759
28
65, 687
500
7,216
20,668
26,837
427,423
10,687
99,560
2,965
3,727
2,185
2,681
7,500
5
S3
H
Loans to farmers
Directly
guaranteed by
the
Commodity
Credit
Corporation
81
487
....
Other
loans to
farmers
(excluding
loans on
real
estate)
Commercial and
industrial
loans
(including open
market
paper)
Other
loans to
individuals for
personal
expenditures
5, 745
794
9,142
2
73
4,172
51,155
9,850
23,806
345,073
89, 755
188, 754
63,449
23,229
31,637
329,075
66,259
249, r ~~
4,102
1,608
2,427
29,748
11,799
17,169
436, 70*
476,023
242,693
4,922,268
586,628
2,491,353
902, 595 44,811,640
734,i
10,187
278,629
4,446
994,917
15,476
164, 866
2,291
664,517
10,038
758,060
12,026
263,943
4,126
411,262
10,475
427,694
11,647
13,460 1,308,282
278,759
3,245
643,029
8,950
523,309
8,429
744,331 44,067,309
725,193
9, 503
273, 752
4,877
971,910
23,007
161,791
3,075
653,795
10,722
741,744
16,316
258,520
5,423
400,441
10,821
418,036
9, 658
289, 551
18, 731
275,634
3,125
633,655
9,374
514,731
8,578
114,796
133,210
434,041 2,055,139 2,394,925
50,773
440,806
477,631
245,120
4,952,016
598,427
2, 508, 522
66,853 9,155,669
578, 357 35,417,077
46, 719 2,484,589
97,803 4,394,900
416, 527
3, 925
995,305
15,904
358,911
1,623
43,600
204, i
4,404
1,406
867
13,408
8,856
15,097
44,038 9,222, 522
774, 798 35, 995,434
27,275 2, 531,308
69, 935 4,492, 703
7,344
420,452
11, 769 1,011,209
11,474
360, 534
114,981
20,692
Less
valua- Net loans]
tion
reserves
22,722
763,602
708,393
57,076 9,861,139 2,363,038
3,883
450,417
317,380
19,462 1,131, 756
996,920
3, 687
90,611
127,837
13,323
142,686
215,072
99,402
128,520
"~~~13
54
3, 552
1
272
3,120
730
22,868
9,296
712
2,i
524,547
Total
gross
loans
O
^
H
97,526 11, 642,974 4,281,804
24,611
263,010
167,879
5,330
98,967
44,285
31,945
330,511
318,839
9,204
52,650
32,893
30,134
201,486
169,478
18,031
264,284
225,209
21,
93,112
50,r"
34,663
90,572
144,454
15,483
117,725
109,138
124,173
446,249
482,966
35,027
63,079
70,923
49,376
176,955
141,436
34,995
196,:
96,653
587
298
AH
other
loans
(including
overdrafts)
O
S3
H
O
O
91,298 20,367,164 2,809,118 466,252 2,019,889 1, 585,1
546,547
52,382
26,408
159,388
2,950
16,648
5,371
5, 564
24, 739
9,315
80,027
125
5,249
5,635
511
66,814 15,839
35,157
96,609
47, 745
17,810
18,159
12, 747
11,456
34,276
2,847
4,635
1,813
40,484
42,924
133,809
19,350
6,911
6,001
350
74,926
19, 779
111,030
18,955
10,771
2,720
328
18,095
21,875
48,760
3,011
2,305
332
24,765
34,149
41,298
10,955
8,904
7,507
400
52,393
23,077
83,795
10,93.r
2,706
65
63,132
17,997
86,758
19,561
29,188
1,794
136
22,042
21,
37,243
8,432
5,685
41,936
61,619
112,619
33,912
11,284
"564
3,
30,092
47,977
94,457
7,
3,776
835
373,714 1,120,069
Loans to finan- Loans for purcial institutions chasing or carrying securities
7,451,963
7,318,753
K
•d
•a
S3
O
F
F
W
S3
O
^
H
O
d
S3
S3
H
9
Ohio
Indiana
Illinois
Michigan
Wisconsin
Minnesota
Iowa
Missouri
Total
Middle
Western States...
739,345
242,768
392,419
714,709
373,290
365,118
183,110
378,022
284,3881
57, 720
117,410
175,827
128,033
58, 773
52, 836
124,275
7,720
301
3,000
455,352 3,388, 781
999,262
13,367
22, 544
20,068
15,402
56,362
39, 527
9,914
34,120
9,891
16, 517
3,431
5,9361
5,920
17,668
8,247
3,888
20, 713
10, 531
9,484)
63,682
52,305
36,431
. 48,016
79,948
54,060
63,131
57,779
North DakotaSouth DakotaNebraska
Kansas
Montana
Wyoming
Colorado
New Mexico...
Oklahoma
Total Western
States...
Washington.
Oregon
California.
Idaho
Utah.
Nevada
Arizona
Alaska
Hawaii
Total Pacific States.
11, 793
4, 716
6,496
18,422
3.330
1,259
2, 665
1,804
7,098
57, 583
224,345
62
2,135
144'
115,412| 70,4681
8,931
1,085
232, 505 107,188
125,077
11,160
6,542
37,623
614
4,433
1,689
22,204
18,8301
105,1491
111,429
3,874
89, 592
40,319
9, 704
4, 539
5, 827
22,8291
651,334
288,113
1251
970
3,275
4, 812
2, 853
234
8, 551
2,214]
1,474
217, 576
160
2081
650
360
443
313
357
3,252
1,170
260
6,068
423
1,0851
Total possessions.__
24, 508
1,378
13,371
200,187
2,853
221, 555
1,280
22, 364
2,r~"
7,050
731
4,008
1,650
59
47,353
4
1,163
729
219
38, 370
586
1,504
6
3,408
313
2
909
44
57,265 1, 578,016
264,248
495,997
18, 760
2,r"
27'
7, 328
4, 699
50,285
9, 353
1,922
64,048
4,184
1,656
9, 353
70,154
14,209
12,553
661,062
124,348
738,810
375,521
281, 522
78, 523
165,430
497,727
51,021
78,009
129,778
160,687
45,293
15, 386
41,062
14,091
49,489!
584,816
11,415
15,399
29,808
86, 760
35,299 j
10,331
83, 568)
30,951
52,425!
355,956
45.159
11,505
36, 383
7,5
98, 508 1,261, 759
23,688
24, 557
67,129
20,157
26,109
6,470
49,380
10, 705
4,879
529
50,373!
3,594
19,701
18,157]
37,301
97,251
41,617
7,731
120,111
25, 856
72,316
55,240 2, 847,3351
5,745
814,1611
25, 556 2,439,050
23,800 2,288,746
24,494 1,269,129
6,132
905,900
7, 586 1,133,411
22,4751 1,827,236]
171,028 13, 524,9
704
670
1,523
3,196
2,287
178
7,109
1,540
921
147, 543
163, 755
274,660
527,085
189, 712
49,622
331,331
98,3771
227,143
48, 5681 2, 798, 767
798, 525
15,636
59,018 2,380,032
34,320 2,254,426
26,271 1,242,858
895,095
10,805
14,967 1,118,444
23,955 1,803,281
233,540 13,291,428
3,345
2, 825
4, 371
4,845
4,395|
621
6,231
2,3021
2,902
144,198
160,930
270,289
522.240
185,317
49,001
325,100
96,075
224.241
1,977,391
440,041
18,128]
2,009,228
31, 837
36,314
34,035
720,177
23,405
66,014
18, 504
68,092]
2,191
46, 598
1,153
3,082
33,040
277
1,842
1,425
3, 579
100
4,481
425, 506]
159, 701
3, 857, 731
93,348
275, 840
82,463
177,092
12,920
246,459
423,304
2,202
157, 863
i,r
56, 884] 3,800, 847
91,830
1,518]
271,237
4, i
81,608
855
175,187
1,905
12,605
315
245,153
1,
48,979
5, 331,060
71,426
5,259,634
368,246 2, 561,341 19,250,264 11,955,439 1,299, 564 82, 351,381 1,281,197 81,070,184
5,447
25,276
20
11,487
10
5,447
25,276j
11, 517
233,454
1,827
1,039,028
677,813
213,948|
501,269
687,860
219,4951
141,2271
193,824
424,301
183, 853 1, 564, 859 1,015,330
1,543
3,476
226,484
124
Total United States
and possessions... 1,080,140! 33,353,298! 5,773,807 537,951 3,284,184 1,972, S
19, 517
44,640
78,4021
10,089
441
3, 745
716
16,334
3,097
85, 818
65, 319
98, 745
178,569
85,234
105,456
175,965
396,934
132,161
119,092 1,238,383 2,922,943 3,059, 737
254,235
4,728
2
63, 770
54,976I
3,441
16, 6761
20
38,055 1,049,413 330,861 18, 638
1,473
11,903
5,:
4, 8831
21,894
68, 746
100
5761
14,181
12,796
419
5, 822
32,045
247!
2,340
2, 534
3,443
35,1871
91,3681
Total United States
(exclusive of possessions)
1,070, 787 33,283,144 5, 759, 598 532,504 3, 258, 908 1,972,968 1,038, 618
Canal Zone (Panama)
Guam
Puerto Rico
American Samoa
Virgin Islands of the
United States
3,1151
4,692
11, 581
9221
221
16, 511
38, 7051
43, 544
311
5,:
108,054
151
1,511
115,8
56]
1
7, 610
42
1,910
11,272
470, 722
327
270
9,448
7,979]
493, 679
2,819
1,910
11,272
467,903
327
2,819
490, 860
9,448
i, 246 2, 572,858 19,483, 718 12,071,319 1,307, 543 82, 845,060 1,284,016 81,561,044
«
O
#
O
a
H
O
O
H
W
o
F
F
H
SJ
0
a
1
a
w
w
a
3
to
Qji
TABLE NO.
4 5 . — A s s e t s and liabilities of all active banks other than national, Dec. 31, 1960 (•includes State commercial, mutual savings, and t o
Oi
private banks)—Continued
GO
[In thousands of dollars]
Location
Common
stock
New Hampshire
Massachusetts
Rhode Island _
Connecticut
-
Total New England States
New York
New Jersey
Pennsylvania
Delaware __
Maryland. _
District of Columbia
Total Eastern
States
Virginia
West Virginia
North Carolina
South Carolina
Georgia.. _
Florida
Alabama
Mississippi
Louisiana
Texas. .
Arkansas
Kentucky
Tennessee.
.
Total Southern
States
10,905
2,792
6,260
54,406
11,150
37, 566
Capital
notes
and
debentures
150
Preferred
stock
100
75
179
200
150
554
970,299 45,433
65,899 5,805
150,200
15,860
30,693
12, 575
226
2,666
10
1,245, 526 51, 238
2,957
123,079
38, 756
17, 895
47,569
16, 811
43,212
61, 346
18,327
20,012
32,191
88,484
16,378
32,853
28,660
462,494
55
1,060
177
22
50
450
110
17
50
177
Time deposits
Demand deposits
Capital
1,759
Individuals, partnerships,
and corporations
U.S.
Government
136,974
22,668
55,353
1,117, 969
194, 594
772,667
7,507
1,314
2,813
51, 781
9,847
42,470
2,300,225
States and
political
Banks in
subUnited
divisions
States
17,477
4,617
10,219
134,798
13,628
66,262
4, 716
538
896
64,727
10,588
29,355
Certified
Banks in
and
foreign cashiers'
countries checks,
etc. i
Individuals, partnerships,
and corporations
1,736
518
5
2,378
484
1,329
21,824
5,390
12,866
2,259
44,271 11,075,755
585,088
637,626
251,495
6,076,465
662,969
2,862,112
U.S.
Government
States
Banks
Banks
Postal
and
in
in
savpolitical United foreign
ings
States counsubtries
divisions
55
6
28
542
420
153
11
122
35
1,204
168
2,804
631
2,282
9,141
777
5,342
1,016
20,977
1,136
20
15
85
115,732
247,001
110,820
17, 991, 563 1,136,279
1,395,142
70,881
3,229,109
143,042
477,217
33,345
747,889
26, 574
440,622
12,461
717,244
150,079
151,978
24,473
76,613
8
3, 659,867
40,179
333,641
10,837
35, 581
19,974
953,130 2,124,767 26,511,422
33,086 2,626.978
387
49,356 3,928,145
8,855
2,932
297,005
37
9,583
968,288
1,865
5,267
180,569
1, 700
22,291
166
1,387 " " 3 0 7 "
285
3,417
6,378
416,342 194,299
32,086
195
59,655
4,035
12,620
21,223
23
936,132
25
5,050
24,281,542 1,422, 582
965,974 2,224,991 34,512,407
33,924
324
541,926 198, 552
942,207
1,120,395
4,100.079
624,102
309,523
1,010,353
239,192
678,906
915,452
296,706
500,660
493,830
1,676,277
391,234
759,190
473,825
23,646
13, 507
48,775
11,668
32,866
30,340
11,812
14,962
12, 773
38,929
9,258
27,424
17,604
80,970
46,872
117,554
28,581
113,996
133,604
87,197
153,085
190,416
182,551
54,167
84,776
86,965
65,302
18, 966
203,409
13,655
61,237
27,395
4,673
57,814
64,432
94, 790
18,437
143,525
12,496
8,369,250
293,564
1,360,734
786,131
240
232
322
834
1
814
344"
2,787
12,481
5,278
10,928
2,030
7,888
14, 702
2,488
4,144
8,032
36,402
4,262
6,628
4,501
545,989
205,970
482,961
79,497
417,918
526,199
207,237
239.701
274,779
645,046
161,310
281,224
391,251
119,764
4,459,082
3,614 1,089
131
47
4,650 2,688
5
927
2,479
442
505 1,300
456
38
31
1,041 "~"32l"
159
23
43
420
1,812
117
58~
15,881
6,515
36,491
764
80,063
15,030
36,018
64,726
2,412
1,609
11,484
88,255
1,431
19,138
19,480
2,303
30
645
2,435
731
973
247
3,000
528
1,185
50
72
711
376,901
12,910
1,000
Ohio
Indiana
Illinois
Michigan
Wisconsin
Minnesota
Iowa
Missouri
-
100
135, 723
244
- 39,409
- 141,563
J 120,894
56,881 " " 3 7 8 "
36,866
807
53,426
124,205
275
Total Middle
Western States- 708, 967
North Dakota
South Dakota
Nebraska.
Kansas
Montana
Wyoming
Colorado
New Mexico
Oklahoma..
.
Total Western
States
Washington
Oregon
California
Idaho
Utah
Nevada
Arizona
Alaska
Hawaii
Total Pacific
States
1,804
10,840
8,261
18,119
30, 609
11,605
1,845
20,249
6,050
15,195
122, 773
9,453
10,379
166,150
5,528
12, 912
3,586
12,320
1,350
16,081
237, 759
Total United
States (exclusive
of possessions). 2,900, 598 53, 369
Canal Zone (Panama)...
Guam
Puerto Rico.
American Somoa
Virgin Islands of the
United States
Total possessic
Total United
States and
possessions..
1
2,865
2,000
255
435
370
2, 564,612
887,373
2,778,694
1, 557,162
1,093,077
561,941
1,162, 789
2,083,553
150,403
41, 743
132,260
73,326
49, 597
22, 924
44, 517
79,058
201,210
172,988
190, 715
236,894
109,998
92,977
152,205
274, 581
124,946
7,415
227,861
51,306
53,670
4,636
24,444
373. 912
3,748
161
6,600
12, 689,201
593,828
1, 431, 568
868,190
16, 527
171,591
197,033
378,273
579,720
212, 588
63, 969
306,733
115,752
293, 509
3,904
4,951
15,397
21,368
6,699
1,409
12, 529
4,672
8, 317
49,644
32,463
40,722
188,366
37,115
13, 699
37,009
26,118
48,032
2,917
2,837
3.524
12,935
16,734
690
37,293
416
6,249
2,319,168
79,246
473,168
83, 595
149,136
112,312
3,075,017
84,455
211,097
60,937
161,126
11,805
168,887
5,637
6,002
132,993
1,675
7.316
3,114
4,684
966
16,079
24, 140
24,210
130,262
20,661
64,229
4,241
29,054
4,284
37,785
5, 111
2, 765
236,211
3,992
33,239
1,021
1,911
647
878
396
45
27,112
4,034,772
178,466
339,166
285, 775
53,994,158 2,683,418
4,972, 032
175
boo
100
100
1,150
1,150
13,120
7,906
7,541
224,780
402
41,435
100
8,811
2,384
5,494
138
3,501
83,981
748
90,243
21,493
89,852
101,852
16,125
23,653
1,419
47, 541
120
1,622
5,000
860
68
250
15
38
700
245,679 11,283,612
2,525
1, 799
392,178
7,723
950
10
24
2
5
3
51
100
32
193
31
460
1, 525
958
273
10
33,286
1,110,837
3,255
331
149, 995
164
516,283
146,608
2,733,496
57,121
187,532
49, 781
93,094
5,987
146,863
20
30
1, 657
14
46
10
20
60
2, 558
7
437
70
15,155
354,647
22
27,126
18,480
14,358
4,320
47, 907
80
260
6,985
698
2,889
3.096
90,085
1,856
5,931
2,794
4,023
234
2, 746
29,116
113, 654
3, 936,765
4,415
473
482,085
7,854
6,234,590 1,016,663 2,781,645 66,378,458
61,204
2
863
1
107
17,711
83
201
103
154
13,362
14
34
4,620
308
13, 667
243,727
4,223
13
4,476
25
16,840
92,706
17,820
54.239,010 2,700,258
5, 064, 738
636
145
40
26
153
164
141
494
58, 643
11, 084
1,106
33,563
7,326
3,587
20,999
12,636
1,051
244,852
13,120
920
187
64
420
57
26
22
829
110,446
108,665
81,081
277, 738
125,419
37, 596
185,004
52,390
132, 498
144
2, 942,277 53,369
1,987
2,289,810
705,159
2,045,206
2,323,073
1,250,371
992,828
706,539
970,626
40,653
15,191
58,404
46,285
23,467
13, 601
22, 533
25, 545
1,922
2,009
3,787
7,256
3,420
716
5,299
2,133
6,744
41, 679
Includes dividend checks, letters of credit, and travelers' checks sold for cash.
3.220
6,252,410 1,016.971 2,795,312
1,369
9,121
227,532
1,085
39
17
19
10
10
50
479
9,610 1, 964,062 228,339
3,135
634
9,765
50
6,462
34, 652
13,534
50
44,184
2,500
15,197
17, 697
960,854
976
3, 070
66, 622,185 74, 738
976
9,660 2, 008,246 229,315
960,854
TABLE NO. 46.—Assets and liabilities of active State commercial banks, Dec. 81, 1960
1
to
o
ASSETS
o
[Dollarfiguresin thousands]
Location
CorpoObligaU.S.
rate
tions of
Other
Loans and Governstocks,
Num. discounts, ment obStates
bonds,
ber of including ligations, and po- notes and including Currency
banks
litical
deben- stocks of and coin
direct and
overFederal
subtures
guarandrafts
Reserve
divisions
teed
banks
Maine
Vermont
Massachusetts
Rhode Island
Connecticut
Total New England
States
New York
New Jersey
Pennsylvania
Delaware
Maryland
T o t a l Southern
States
62,483
1,292
2,662
2,677
14, 550
4, 582,446
2, 718
548
4,360
691
103
61
46,528
318
7,818
2,223
31
4,253
902,496
100
1,673
269, 559
14,427
22,413
3,280
10,611
3,897
38,419,806
3,319,338
6, 544, 503
817, 505
1,476,933
734,930
417,547
8,481
61,171
904,331
324,187
51,313,015
3,619
1,236
733
29
915
1,645
468
25
1,451
836
133
37
605
34
335
3,572
1,847
14,480
689
4,612
7,578
1,085
2,415
1,730
5,381
434
2,035
1,969
1, 553,367
688, 571
2,253,951
440,237
1, 509,978
1,889, 541
680,167
1,062,059
1,158,319
2,997,078
703,022
1,472,212
1,115,200
11,732
2,948
47,827
17, 523,702
320,755
38,530
24,496
91,904
7,034, 582 2,089, 764
357,381
789,912
426,769
1,336,127
28,166
252,480
94,214
429,159
* 16,007
194, 577
237,833
56,640
90,534
3,230
26,070
9,397
120,649
10,998
34,370
4,279
3,746
884
266,040
58,468
109, 539
11,702
34,010
11,117
423,704
174,926
490,876 11,114,744
7,302,669
384,838
140,320
227,176
1,940,335
449,269
1,440,508
265,686
43,281
74,884
9,927
16, 510
7,259
1,103,441
2,739
1,239
90
466
7,632
1,303
3,820
683,845
2,235,811
103,473
45,478
188,919
52,336
80,608
145, 558
68,718
163,490
140,513
221,798
71,828
48,820
101,399
24,145
3,146
72,004
22,090
30, 592
13,053
21,156
10,211
6,682
63,961
13,975
16,118
14,885
1,931
1,339
1,885
103
1,692
1,010
331
575
572
3, 502
339
1,352
848
33,723
16,820
53,952
13,896
32,593
44,937
16, 575
24,364
31,705
62,181
13,374
27,578
25,969
237,926
109.835
451,963
73,347
285,728
270,808
105,547
203,438
235,660
635,402
151,125
309,972
185.836
20, 548
8,023
31,261
3,891
19,777
33,921
7,003
16,265
12,825
59,977
6,586
11,540
14,362
257
513
849
190
1,157
1,718
293
466
567
1,905
436
401
1,455
4,487,651 1,432,938
312,018
15,479
397,667
3,256,587
245,979
10,207
597
957
256
2,649
11
17
62
501
2
467
889
228
47
445
sd
H
•d
O
w
O
9,108,964
412,471
1,130,880
136,179
197,683
128,567
191
398,980
226, 582
465,494
111, 873
404,120
626,680
200,471
240,141
308, 531
662,145
169,158
420,670
252,806
Total
assets
261
161
164
316
112
278
17,450
6,265
17,092
138,435
18,566
122,947
725,193
273, 752
971,910
161,791
647,717
741, 744
258, 520
400,441
418,036
1,279, 545
275,634
633,655
514,731
852
Other
assets
6,293
1,809
2,932
26,662
3,413
21,374
37,985
8,900
19,127
312,301
66,037
239,495
108,346
32,028
43,968
495,330
94,977
328,792
176
105
147
120
314
190
169
166
148
532
182
268
222
Virginia
West
Virginia
North Carolina
South Carolina
Georgia
Florida
Alabama
Mississippi
Louisiana
Texas
Arkansas
Kentucky
Tennessee
10,257
1,920
3,382
38,107
8,739
29,499
196,363
81,431
135,470
902,589
244,484
675,474
597 24,343,910 10,036,837 3,012,301
Total Eastern States.
2,031
3,430
1,741
4,641
2,946
9,707
24
23
25
68
5
46
161 18,074,987
93 1,574,794
236 3,305,136
17
365,348
83
664, 734
7
358,911
District of Columbia
3,761
4,286
2,237
10,716
8,425
9,105
InvestBalances
ments
Real
with other
Bank
estate and other Custombanks,
ers' liaassets
inincluding premises owned
directly bility on
owned,
other
reserve
acceptrepresentthan
balances furniture
ing bank ances outbank
and
and cash
fixtures premises premises standing
items in
or other
process of
real estate
collection
M
O
O
K
hj
H
Sd
O
F
F
H
o
a
d
Sd
Sd
H
a
362
314
570
304
460
510
568
549
Ohio..
Indiana
Illinois
Michigan, _.
Wisconsin..
MinnesotaIowa
Missouri
Total Middle Western States
3,637 12,997, 568
118
141
305
420
79
29
111
26
189
North Dakota..
South Dakota.
Nebraska
Kansas
Montana
Wyoming
Colorado
New Mexico
Oklahoma
Total
Western
States
33,333
16,842
128,713
14,449
36,351
59, 722
17,423
50,672
9,892
1,237
24, 537
6,365
1,303
259
1,184
17,921
103,162
41,324
65, 515
81,619
46,719
24,703
37,484
57,054
931, 724
290,856
960,215
569,395
364,276
177,256
348,163
850,980
63,602
15,911
39, 540
63,262
25,233
16, 507
14,740
33,862
416
501
2,584
1,380
1,018
325
280
702
2,611
1,668
16,992
488
5,294
295
2,184
2,289
376
37
3,824
338
95
60
11
431
21,817
3,778
27,054
14,706
28,204
3,638
1,719
12,176
6,017,076
1,965,381
6,081,542
4,840,929
2,796,440
1, 532,620
2,334,484
4,294,297
8,802,901 2,261,704
357, 505
62,698
457, 580
4,492,865
272, 657
7,206
31,821
5,172
113,092
29,862,769
18
98
54
324
194
68
348
110
108
61
29
1
229
11
16
2, 256
26
466
435
382
938
864
1,021
85
3,139
616
1,102
445,483
396,272
590,897
1,239,156
445, 532
133,799
673,608
234,455
549,118
166,529
141,893
183,363
333,762
135,251
48,463
167, 307
69,301
157, 691
60,093
22, 574
27,185
151,500
30,846
6,908
36,164
17,120
49,619
27,275
10,216
4,977
5,477
9,342
987
2,194
3,873
4,097
25
158
722
517
514
94
1,158
57
131
4, 860
5,021
7,736
16,212
6,142
2,027
10,555
5,874
11,114
38,890
53,253
92,403
200,449
71, 954
25,054
120,373
37,005
97,605
3,099
1,718
3,229
7, 582
4,940
1,096
5,014
4,398
2,944
1,977, 391
1,403, 560
402,009
68,438
3,376
69, 541
736,986
34,020
1,322
61
41
77
22
43
4
7
6
10
152, 538
126,033
3,800, 847
91,830
271,237
81,608
175,187
12,605
245,153
109,203
93,140
1, 767, 784
45,483
153,821
44,942
71,078
11,203
119,946
33,999
26,030
499,390
11,896
28,952
4, 575
20,527
379
25,344
1,865
109
36,859
1,191
1,982
451
13, 536
205
1,965
311
87
8,364
167
735
149
670
1,780
7,488
5, 658
64,873
3,152
7, 726
3,130
6,844
918
14,930
49,940
37, 733
1,126, 406
28,976
109, 916
12,975
49,988
5, 538
54,468
4,983
4,989
81,883
2,207
5, 578
3, 515
6, 657
381
7,483
70
167
678
552
100
1
406
49
284
271
4,957,038
2,416,600
651,092
58,163
12,263
114, 719
1,475,940
117, 676
Total Pacific States^
8, 853 53, 814, 387 28,250,990 8,080, 799 1,258,358
(32)
()
Canal Zone (Panama)
Guam...
Puerto Rico 4
American Samoa
Virgin Islands of the
United States«
10
1
Tota possessions. _.
Total United States
and possessions,,.
144,198
160,930
270,289
522.240
185,317
49,001
325,100
96,075
224.241
415,825
92,465
485,567
477,997
190,720
95,660
197,975
305,495
1,650,242
738,436
1,946,969
1,356, 504
868,855
481,213
601,248
1,159,434
1,418
Washington.
Oregon.
California—
Idaho
Utah
Nevada
Arizona
Alaska
Hawaii
TotalUnited States
(exclusive of possessions)
2,784,076
762,326
2,380,032
2,254,426
1,228,372
672,982
1,112,073
1,803,281
1,910
11,272
467,903
327
1
9, 254
12
490,666
361,980
294,875
7,479,911
186,418
583,986
151,810
350, 684
31,365
476,858
9,917,887
1,029
2,307
21,066
29, 529
61,494
293,238 1,622, 287 21, 760, 967 1,150,362
30,815
131,547
944, 657
12
232
7,869
4
71
367
1
765
1,147
3, 784
52,476
159
99,004
2,181
38,236
17, 214
1,195
101
794
278
109
101,185
38,236
17,214
1,296
24,854
57,844
8, 226
438
1
765
294, 534 1,647,141 21,818,811 1,158,588
31,253
131, 548
945,422
8,865 54,305,053 28,352 175 8,119,035 1,275, 572
4,708,320
2,465
6
1,740
1,802
883
21,303
72
44
647
112
12,986 " "28,"456"
480
2,630
8,582
892
817
51,385
484
1,309
464
3,326
81
2,736
Includes stock savings banks.
2 2 branches of a national bank and 2 branches of a State member bank in New York.
^Branch of a national bank in California.
1
3,095
569,732 117,908,139
16, 617
14,296
28,918
59
21,488
30, 538
735,251
2,802
6,117
16,653
66,007
806, 732
635, 739 118, 714,871
* Asset and liability items include data for branches of a national bank and a State
member bank in New York.
Asset and liability items include data for branches of a State member bank in New York.
»
*H
O
w
O
a
s
a
o
o
K
v
n
w
o
t"1
t4
a
w
o
a
w
a
o
d
w
w
H
a
to
o*
TABLE N O .
46.—^ssefc and liabilities of active State commercial banks, Dec. 81, 1960—Continued
to
fcO
LIABILITIES
[In thousands of dollars]
Demand
deposits
Location
Maine
New Hampshire
Vermont
Massachusetts
Rhode Island
Connecticut-
„
Total New England States
New York
New Jersey
Pennsylvania
Delaware
Maryland
District of Columbia
Total Eastern States
Virginia
West Virginia
North Carolina
South Carolina
Georgia
Florida
Alabama
Mississippi
Louisiana
Texas
Arkansas
Kentucky
Tennessee
—
Total Southern States
-
Time
deposits
Total
deposits
Bills payable, rediscounts,
and other
liabilities
for borrowed
money
Acceptances
executed
by or for
account of
reporting
banks and
outstanding
73
Other
liabilities
Capital
stock 1
Surplus
Reserves
and retirement
Undivided account for
preferred
profits
stock and
capital
notes and
debentures
40
2, 952
11
17
8,371
1,237
2,856
71,393
16,495
49,861
11,005
2,867
6,439
54,606
11,150
37, 566
13,240
6,170
7,083
82,258
23,909
59, 771
9. 521
4,644
5,362
35,449
6, 315
22,510
636
648
565
7, 547
289
2,488
4,016,502
640
3,053
150,213
123,633
192,431
83,801
12,173
6,628,458
1,331,205
1,902,558
150,171
435,156
187,947
32,984,693
3,001,980
5,813,391
699,012
1,329,954
667,979
3,327
300
14,655
100
575
932,920
100
1,673
1,166,675
73,853
108,391
39, 733
22,022
15,357
1,010,958
74,370
150,210
15,860
30,748
12, 575
1,637,046
121,048
338,886
52,963
67,002
26,750
644,029
42,215
106,865
9,747
21,530
9,766
40,158
5,472
10,432
90
5,040
2, 503
33,861,514
10,635,495
44,497,009
18,957
934, 755
1,426,031
1,294, 721
2,243, 695
834,152
63,695
806,741
394,146
1,391,251
295,126
886,749
1,122,327
402,876
730,666
769,483
2,006,230
477,358
1,021,887
595,391
589,486
206,942
571,007
97,894
456,298
593,703
210,390
244,341
288,153
729,502
163,254
302,246
411,617
1,396,227
601,088
1,962,258
393,020
1,343,047
1,716,030
613,266
975,007
1,057,636
2,735,732
640,612
1,324,133
1,007,008
2,170
650
1,032
500
1
1,200
202
918
70
625
32
200
800
154
335
26,417
11,065
110,278
3,053
26,618
23,956
5,081
8,595
10,411
16,823
2,102
14,443
15,744
39,816
17,895
47, 591
16,861
42, 509
61,796
18,327
20,122
32,208
87,151
16,378
32,903
28,660
62,921
35,137
101,827
18,313
55,890
60,324
24,872
53,506
36,222
90,776
21,068
65,626
31,824
24,057
19,168
23,415
7,238
29,544
21,229
17,101
2,458
17,547
53,557
20,045
31,710
27,147
1,759
3,568
7,049
1,250
11,857
4,117
1,318
1,225
4,178
11,966
2,785
3,043
3,682
10,900,231
4,864,833
15,765,064
8,400
3,116
274,586
462,217
658,306
294,216
57,797
168,998
29,602
70,601
1,392,362
234,533
921,030
172,944
95,002
134,020
293,618
156,567
347,225
341,942
124,604
204,621
1,685,980
391,100
1,268,255
50
150
250
150
2,817,126
1,199,376
26,356,235
1,670,775
3,910,833
548,841
894,798
480,032
62
501
2
512
889
228
47
448
SJ
a
^
o
w
o
a
S
w
o
o
K
W
o
t-1
r*
H
W
0
a
1
o
d
w
w
a
9
Ohio
Indiana
Illinois
Michigan
Wisconsin
Minnesota
Iowa
Missouri
Total Middle Western States
North Dakota
South Dakota
Nebraska
Kansas
Montana
Wyoming
Colorado
New Mexico
Oklahoma
Total Western States
Washington
Oregon
California
Idaho
Utah
Nevada
Arizona
Alaska
Hawaii
Total Pacific States
Total United States (exclusive of possessions).
Canal Zone (Panama)
Guam
Puerto Rico...
American Samoa
Virgin Islands of the United States
Total possessions
Total United States and possessions
1
Includes capital notes and debentures.
I..
3,084, 757
1,114,136
3,395,345
1,968, 721
1,329,970
695, 536
1,396, 747
2,838,636
2,353,724
675,520
2,140,412
2,426,231
1,241,329
695,916
706, 751
1,020,228
5,438,481
1,789,656
5, 535,757
4,394,952
2, 571,299
1,391,452
2,103,498
3, 858,864
547
335
3,917
260
1,395
35
860
176
376
74
3,878
338
95
60
11
448
89, 781
24,962
69,470
77, 773
17,942
11,786
7,300
56,008
135,998
39,478
142,063
123,759
59,259
37,928
53,656
124,850
265,379
61,857
176,882
153,058
87,742
46,215
77,638
128,559
83,331
46,165
94,014
75,891
53,018
36,706
82,490
117,415
3,183
2,854
55,561
14,898
5,690
8,438
9,031
7,977
15,823,848
11,260, 111
27,083,959
7,525
5,280
355,022
716,991
997,330
589,030
107,632
229,978
239,293
441, 703
809,645
276, 556
80,483
398,863
149,091
362,851
169,131
119,824
82,197
311,367
132,940
41,219
206,463
66,824
134.617
399,109
359,117
523,900
1,121,012
409,496
121,702
605,326
215,915
497,468
1,939
1,180
4,478
4, 759
4,158
501
13,293
1,908
4,225
10,840
8,261
18,119
30,609
11,605
1,945
20,249
6,050
15,195
13, 785
11,316
22,037
46,235
11,943
5,150
18, 758
5,952
15,659
15,240
13,444
18,324
32,975
8,040
3,892
11,455
2,850
15,002
4,570
2,154
2,164
1,830
290
609
2.779
1.780
882
2,988,463
1,264, 582
4,253,045
36,441
122,873
150,835
121,222
17,058
187, 556
148,419
3,691,680
112,639
321,814
72,107
201,661
17,936
227,073
137,209
119,201
3,112,001
57,157
214,764
68,271
107,472
10,374
198,244
324,765
267,620
6,803,681
169, 796
536, 578
140,378
309,133
28,310
425,317
9,453
10,379
167,300
5,528
12,912
3, 586
12,320
1,350
16,081
13, 548
8,496
231,991
5,763
19,292
4,379
15,606
810
16, 772
9,096
3, 514
111,767
2,506
5,892
1,103
3,521
485
8, 574
785
413
5, 514
389
137
1,030
395
1,586
4,980,885
4,024,693
71, 372,067
16,928
13, 580
345, 529
1,385
8, 771
386,193
71, 758,260
800
1,875
1,736
1,748
687
6,846
76
1,029
4,289
3,953
130,709
2,436
9,175
2,364
8, 874
15
7,423
9,005, 578
936
29, 862
169,238
238,909
316, 657
146,458
10,249
33,249,090 104,621,157
43,304
976,066
2,411, 531
2,959,344
4, 559,254
2,068,879
268,604
765
56
741
35,235
33
227
41,435
100
144
15,456
25
3,497
41
2,699
133
500
160
44
28~789~
200
4,504
16,217
272,975
1,085
7,511
21,432
29, 797
618, 504
2,470
16, 282
302,292
688,485
17,660
765
36,292
41,679
15,481
3, 538
2,832
33, 551,382 105,309,642
60,964
976,831
2,447,823
3,001,023
4,574, 735
2,072,417
271,436
(See classification on pp. 266 and 267.)
17, 660
TABLE NO.
bO
46.—Assets and liabilities of active State commercial banks, Dec. 31, 1960—Continued
[In thousands of dollars]
Loans and discounts
Loans to financial institutions
Real estate loans
Secured
by
farm
land
(ineluding
improvements)
Location
4,318
1,677
6,958
1,416
292
2,095
Maine
New Hampshire.
Vermont
Massachusetts
Rhode Island
Connecticut
Secured
by residential
properties
(other
than
farm)
55,753
48,834
55,227
117,241
40, 974
186, 741
To domestic
Secured commerby
cial
other
and
properforeign
ties
banks
22,032
12, 281
15,895
70, 279
29, 432
45, 252
Total New England States
16, 756
504, 770
195,
New York
—
New Jersey..
Pennsylvania
Delaware
Maryland
District of Columbia
26,893
3,018
23,220
9,425
17,660
28
, 259,088
520,466
559, 239
73,054
166,221
65,687
485,
123,
230,
30,
69,
L244 2,643, 755
Total Eastern States.
Virginia
West Virginia
North CarolinaSouth Carolina.
Georgia
FloridaAlabama
Mississippi
Louisiana
Texas
Arkansas
Kentucky
Tennessee
26,408
9, 315
35,157
11, 456
41,714
19, 779
21,875
34,149
23,077
17,836
21, 981
61,619
47,977
—
—
Total Southern States.
372,343 1,118,334
20,
150
2,681
7,500
!3,677
2,537
14
749
62,820
12, 919
15, 204
94,243
To
brokers
and
dealers
in securities
54, 991
2,171
8,612
67,070
Other
Directly
guaranteed by
the
Commodity
Credit
Corporation
382
254
11,319
149
6,732
19,829
2,009,760 1,582,939
350
328
400
136
"564
20,692
16,648
5,249
47, 745
2,847
19,265
18, 955
3,011
10,955
10,935
19, 551
8,432
33,912
7,
5,564
511
18,159
1,813
6,001
2,720
332
7,507
65
1,794
1, f~"
3,1
835
204,591
50,773
531, 521
SJ
H
^
Loans to farmers
Other
loans to
farmers
(excluding
loans on
real
estate)
Commercial and
industrial
loans
(including open
market
paper)
Other
loans to
individuals for
personal
expenditures
5,740
561
7,607
2,796
73
4,133
51,039
6,946
22,623
344, 721
87,852
185,778
54,037
10,604
26,852
243,193
59, 474
220,833
2,942
403
863
8,190
8,806
12, 531
698,959
614, 993
33, 735
81
20,910
57,072
3,883
19,013
3,687
13, 323
95
587
97,073 11,475, 588 4,163,844
43, 262
O
W
Total
gross
loans
200,140
81,702
137,725
919,728
249,642
687, 911
Less
valua- Net loans
tion
reserves
H}
O
2, 276,848
432, 264 2,051,117 2,389,904
3, 777
271
2, 255
17,139
5,158
12,437
196,363
81,431
135,470
902, 589
244,484
675,474
41,037
2, 235,811
Cl
O
K
•d
••3
Sd
o
F
f
H
W
18,476,760
1,618, 577
3,386, 270
369,044
677, 550
360, 534
401, 773 18,074,987
43,783 1,574,794
81,134 3, 305,136
365,348
3,r~
664, 734
12,816
358,911
1,623
O
876,919 24,888,735
544,825 24,343,910
o
c{
w
w
H-
10,187
4,446
15,476
2,291
9,778
12,026
4,126
10,475
11,647
12, 931
3,245
8,950
8,429
13
54
3,552
1
272
3,120
730
22, 530
9,296
712
2,684
114,912
All
other
loans
(including
overdrafts)
H
487
2,805
75
150
500
960, 523
52, 382
24,739
66,814
12, 747
40,008
74, 926
18,095
24,765
52, 393
62, 738
22,042
41,936
30,092
Other
Loans for purchasing or carrying securities
114,007
7,435,876
9,503
4,877
23,007
3,075
10,719
16,316
5,423
10,821
9,658
18, 731
3,125
9,374
8,578
725,193
273,752
971,910
161,791
647,717
741,744
258,520
400,441
418,036
1,279, 545
275,634
633,655
514,731
133,207
7,302,669
^
w
9
Total Middle Western States
283,110
53, 319
117,410
175,827
126, 530
40,538
52,662
124, 275
7, 720
301
3,000
5
2,135
144
115,412
8,931
232, 505
125,077
37,623
4, 433
22, 204
105,149
70,468
1,085
107,188
11,160
6, 542
614
1,689
18,830
111, 429
3,840
89, 592
40,319
9,704
4, 539
5,827
22,829
431, 993 3,149,783
973,721
13, 367
651, 334
217, 576
288,079
11,793
4,716
6,496
18,422
3,330
1, 259
2,665
1,804
7,098
22, 544
20,068
15,402
56,362
39, 527
9,914
34,120
9,891
16,517
3,431
5,936
5, 920
17,668
8,247
3,888
20,713
10,531
9,484
63
125
970
3,275
4,812
2,853
234
8, 551
2, 214
1,474
57,583
224,345
85,818
4,125
35, 233
3,441
27,950
38,055 1,049,413
1,473
11,903
4,883
68, 746
576
12, 796
419
32,045
247
2, 534
3,443
91, 368
14,630
12, 745
330,861
5, 266
21,894
14,181
5,822
2, 340
35,187
56,662 1,331,988
442, 926
North Dakota _
South Dakota-.
Nebraska
Kansas
Montana
Wyoming
Colorado
New Mexico. _.
Oklahoma
Total Western States.
Washington..
Oregon
California
Idaho
Utah...
Nevada
Arizona
Alaska
Hawaii
Total Pacific States..
Total United States
(exclusive of pos-
62
730,906
215,824
392,419
714,709
360,475
174,675
182, 753
378,022
59, 913
49,878
36,431
48,016
79,835
37,363
62.778
57.779
Ohio
Indiana
Illinois^-..
Michigan
Wisconsin
Minnesota
Iowa
Missouri
65
2,969
3,097
20
18, 63 j
100
18, 760
160
208
650
360
Total possessions
9, 353
1,922
64,048
4,064
1,656
9, 353
70,034
14,209
12, 553
661,062
123,841
738,810
375, 521
281, 522
78, 523
164,700
497,727
676,066
212,819
501, 269
687,860
219,389
140,989
193, 289
424,301
118, 703 1, 233, 727 2, 921,706 3,055, 982
55,240
5,528
25, 556
23,800
24,494
6,132
7,568
22,475
2,832,102
777,661
2,439,050
2,288,746
1, 254,642
680,287
1,127,040
1, 827,236
170,793 13,226, 764
48,026
16, 335
59,018
34,320
26,270
7, 305
14, 967
23,955
2,784,076
762,326
2,380,032
2,254,426
1, 228,372
672,982
1,112,073
1,803, 281
229,196 12,997,568
26, 303
19, 517
44,640
78,402
10,089
441
3, 745
716
16, 334
51,021
78,009
129, 778
160,687
45, 293
15, 386
41,062
14,091
49,489
11,415
15, 399
29,808
86, 760
35, 299
10, 331
83, 568
30, 951
52,425
19, 701
18,157
37, 301
97, 251
41, 617
7,731
120, 111
25,856
72, 316
704
670
1, 523
3,196
2, 287
178
7,109
1,540
921
147, 543
163, 755
274,660
527,085
189, 712
49,622
331, 331
98, 377
227,143
3,345
2,825
4,371
4,845
4, 395
621
6, 231
2, 302
2, 902
144,198
160, 930
270,289
522, 240
185, 317
49,001
325,100
96,075
224,241
584,816
355, 956
440,041
18,128
2,009, 228
31,837
1,977,391
45,159
11, 505
35, 730
7,828
98, 508 1, 261, 759
23,688
24, 557
67,129
20,157
26,109
6, 470
49,380
10,705
4,879
529
50, 373
3, 594
34, 494
33,809
720,177
23,405
66,014
18, 504
68,092
2,191
46, 598
852
3,082
33,040
277
1,842
1,425
3,579
100
4, 481
154, 640
127,865
3,857,731
93,348
275,840
82,463
177,092
12, 920
246,459
2,102
1,832
56,884
1,518
4, 603
855
1,905
315
1, 306
152, 538
126,033
3,800,847
91,830
271,237
81,608
175,187
12,605
245,153
183, 853 1, 564, 206 1,013, 284
48, 678
5,028, 358
71, 320
4, 957,038
24, 508
1, 378
13, 371
200,187
2,853
2,669
221, 555
1,280
22,364
2, 396
7,050
73
4,008
1,650
59
47,353
4
1,163
729
219
38, 370
586
1,504
6
3,408
313
2
909
44
56
27
7, 328
23
264, 248
50, 285
48, 769
4,699
367, 519 2, 552,643 19,067, 532 11,678,048 1, 262,260 54, 865, 809 1,051, 422 53,814, 387
311
5,853
108,054
151
56
1
7,610
42
1, 910
11,272
470, 722
327
5, 447
25, 276
410
20
11, 487
10
1,543
3,476
226, 484
124
1,827
1,511
196
9, 254
5,447
25, 276
410
11,517
233,454
115,880
7,905
493, 485
Total United States
1,024,934 9,043,009 3,196,045 537,676 3, 273, 960 1, 970,021 1,016, 891
and possessions
65,319
98,051
178, 569
85, 234
105,456
175,965
392,972
132,161
443
313
357
3, 252
1,170
260
6,068
423
1,085
1,015, 581 8, 972,975 3,181,836 532, 229 3, 248,684 1, 970,021 1,016,481
Canal Zone (Panama)...
Guam
Puerto Rico.
American Samoa
Virgin Islands of the
United States
3,115
4, 545
11,581
922
22
16, 511
38,463
43, 544
2, 819
1,910
11, 272
467, 903
327
2,819
490,666
9, 254
367, 519 2, 564,160 19, 300, 986 11, 793, 928 1, 270,165 55, 359, 294 1,054, 241 54, 305,053
ft)
H
TJ
O
ft)
H
o
a
t-3
M
M
O
O
K
hj
H3
ft)
O
f
H
ftJ
O
a
H
o
d
w
w
a
9
to
0
01
TABLE NO.
to
4 6 . — A s s e t s and liabilities of active State commercial banks, Dec. Sl> 1960—Continued
o*
[In thousands of dollars]
Demand deposits
Capital
Location
Common
stock
Total New England States
123,079
New York
New Jersey.
Pennsylvania
Delaware
Maryland
District of Columbia
Total Eastern
States
Total Southern
States
100
75
179
200
10,905
2,792
6,260
54,406
11,150
37,566
Rhode Island
Virginia
West Virginia
North Carolina
South Carolina
Georgia
Florida
Alabama
Mississippi
Louisiana
Texas
Arkansas
Kentucky
Tennessee
IndividCapital
notes
Pre- uals, partand
ferred nerships,
and cordeben- stock
porations
tures
-
554
965,299
65,899
150,200
15,860
30,693
12,575
45,433
5,805
1,240,526
51,238
38,756
17,895
47,569
16,811
42,332
61,346
18,327
20,012
32,191
87,151
16,378
32,853
28,660
460,281
226
2,666
10
55
2,957
1,060
177
22
50
450
110
17
50
177
1,759
Certified Individuals, partand
Banks in Banks in
foreign
cashiers' nerships,
United
and corcountries checks,
States
porations
etc.1
U.S.
Government
States
and
political
subdivisions
136,974
22,668
55,353
1,117,969
194,594
770,856
7,478
1,309
2,809
51,313
9,821
42,354
17,477
4,617
10,219
134,797
13,627
66,225
4,716
538
896
64,727
10,588
29,353
2,298,414
115,084
246,962
110,818
17,845,896 1,134,021
70,684
1,378,380
142,605
3,224,474
33,345
477,217
26,497
746,312
12,461
440,622
717,231 ~M>45,505
40,154
149,823
333,641
151,938
10,837
24,473
35,281
76,605
19,974
8
1,120,078
4,085,392
624,102
309,523
1,010,353
239,192
670,482
915,452
296,706
500,660
493,830
1,654,817
391,234
759,190
473,825
23,646
13,507
48,775
11,668
32,866
30,340
11,812
14,962
12,773
38,779
9,258
27,424
17,604
80,970
46,872
117,554
28,581
113,996
133,604
87,197
153,085
190,416
181,302
54,167
84,776
86,965
65,302
18,966
203,409
13,655
61,237
27,395
4,673
57,814
64,432
94,341
18,437
143,525
12,496
8,339,366
293,414
1,359,485
785,682
24,112,901 1,419,613
Time deposits
1,736
518
5
2,353
470
1,324
21,820
5,385
12,237
2,259
171,812
94,555
132,919
284,000
155,248
342,716
U.S.
Government
States
Postal
and
savpolitical
ings
subdivisions
14
6
28
542
420
15
11
122
35
1,025
168
1,118
441
1,073
8,980
777
4,459
16,848
Banks Banks
in
in
United foreign
States countries
85
85
43,589
1,181,250
917,395 2,096,187
31,347
387
49,320
8,855
2,932
37
8,238
1,865
5,267
1,700
5,073,567
1,305,051
1,832,207
137,311
410,484
180,569
22,291
166
1,387 " " 3 0 7 "
285
3,417
17
6,378
416,342 192,299
25,953
10
59,582
4,025
12,575
21,223
15
923,959
25
5,050
930,239 2,193,291
8,939,189
33,924
324
535,675 196,349
930,034
12,481
5,278
10,928
2,030
7,846
14,702
2,488
4,144
8,032
36,177
4,262
6,628
4, 501
545,989
205,970
482,961
79,497
416,663
526,199
207,237
239,701
274,779
640,461
161,310
281,224
391,251
119,497
4,453,242
240
232
322
834
1
814
344
2,787
3,614 1,089
131
47
4,650 2,688
5
927
442
2,479
505 1,300
456
38
31
1,041 ~~"32l"
159
23
43
420
1,812
117
58
15,881
6,515
36,491
764
80,063
15,030
35,983
64,726
2,412
1,609
11,484
87,674
1,431
19,138
19,480
2,303
30
645
2,435
731
973
247
3,000
528
1,185
50
72
711
376,285
12,910
1,000
Ohio
Indiana
Illinois——
Michigan. _
Wisconsin..
Minnesota.
Iowa
Missouri-..
Total Middle
Western States..
North Dakota..
South Dakota..
Nebraska
Kansas
Montana
Wyoming
Colorado
New M e x i c o . . .
Oklahoma
Total Western
States
Washington..
Oregon
California—
Idaho
Utah
Nevada
Arizona
Alaska
Hawaii
Total Pacific
States
135,723
39,234
141,563
120,894
56,881
36,866
53, 221
124,205
708, 587
10,840
8,261
18,119
30,609
11,605
1,845
20,249
6,050
15,195
122, 773
9, 453
10, 379
166,150
5, 528
12,912
3,586
12. 320
1, 350
16,081
100
244
275
2,865
2,000
255
435
370
2,564,612
879,710
2,778,694
1, 557,162
1,093,077
561,941
1,153,390
2,083,553
1,804
6,600
12,672,139
1,400
1,428,925
l, 190
171,591
197,033
378,273
579,720
212,588
63,969
306,733
115,752
293,509
3,904
4,951
15, 397
21,368
6,699
1,409
12,529
4,672
8,317
49,644
32,463
40,722
188, 366
37,115
13,699
37,009
26,118
48,032
2,917
2,837
3,524
12, 935
16,734
690
37,293
416
6,249
2,319,168
79, 246
473,168
83, 595
149,136
112,311
3,075,017
84,455
211,097
60,937
161,126
11,805
168,887
5, 584
5,992
132,993
1,675
7,316
3,114
4,684
966
16,079
24,440
24, 210
130,262
20,661
64, 229
4,241
29,054
4,284
37, 785
5, 111
2,765
236,211
3,992
33, 239
1,021
1,911
647
878
378
807
175
"~~506~
100
100
1,150
237,759
1,150
Total United
States (exclusive
of possessions)... 2,893,005
53, 219 13,120
150, 394
41,324
132,260
73,326
49, 597
22,924
44, 517
79,058
201,210
170,687
190,715
236,894
109,998
92,977
151,863
274, 581
4,034,771
124,946
7,415
227,861
51,306
53,670
4,636
24,444
373,912
3,220
16, 527
339,166
53,776,759 2,679,160
8,811
2, 384
5,494
138
4,967, 784
7,411
3,748
161
1,987
920
187
64
420
52
26
22
829
636
145
40
26
153
164
141
494
244,667 10,858,445
2, 520
1,799
1,922
2,009
3, 787
7, 256
3, 420
716
5,299
2,133
6,744
110,446
108,665
81,081
277,738
125,419
37, 596
185,004
52,390
132,498
331
149, 995
164
20
30
1, 657
14
46
10
20
60
2, 558
50
100
6,985
7
437
70
15,107
354,647
22
27,126
18,480
14, 358
4,320
47,907
113,654
3, 512,407
4,415
473
482,037
7,664
980,928 2, 747,984 30,055, 370
61,020
1
107
17,711
83
"261"
103
154
13, 362
14
1,369
9,121
227, 532
1,085
50
6, 462
34, 652
50
44,184
4,223
13
4,476
25
34
4,441
244,852
16,840
92,706
17,820
13,667
243, 548
13, 534
54,021,611 2,696,000
5,060,490
981,236 2,761,651 30,298,918
74, 554
>, 237, 272
50
479
1, 949, 533
3,135
634
9, 765
41,679
53,219 13,120
100
3, 255
Total possessions..
2, 934,684
273
10
134, 569
103,964
2,733,496
57,121
187, 532
49,781
93,094
5,987
146,863
7,906
7, 541
224,780
402
* Includes dividend checks, letters of credit, and travelers' checks sold for cash.
7,704
1,110,8
41,435
100
Total United
States and possessions
15
2,889
3,096
90,085
1,856
5, 931
2,794
4,023
234
2,746
Canal Zone (Panama)...
Quam
Puerto Rico
American Samoa
Virgin Islands of the
United States.
3,501
83, 981
748
120
1,610
5,000
860
61
58,643
11,084
1,106
33,563
7,326
3,587
20,999
12,636
1,051
17
32
193
31
460
1, 525
87, §81
20,689
89,852
101,852
16,018
23,653
1,407
47,541
33, 286
396
45
27,112
29,116
6, 219,452
2, 264, 367
652,889
2,045,206
2, 323,073
1,225,045
672,073
705,166
970,626
40,375
15,000
58,404
46,285
23,467
13,058
22, 533
25, 545
3,070
976
1,993,717 225,852
948,681
TABLE NO.
47.—Assets and liabilities of active mutual savings banks, Dec. 81, 1960
ASSETS
[Dollar figures in thousands]
00
InvestBalances
ments
Real
with other
U.S.
ObligaCorpoestate and other
Bank
tions of
Other
rate
banks,
Loans and Governassets
inowned
premises
Num- discounts, ment obStates
bonds,
stocks,
including
directly
other
owned,
ber of including ligations, and po- notes and including Currency reserve
representthan
furniture
banks
litical
debenstocks
of
direct and
and coin balances
overing bank
bank
subtures
Federal
and
guaranand cash
drafts
divisions
Reserve
fixtures premises premises
teed
items in
or other
banks
process of
real estate
collection
Location
Maine. __
New Hampshire.
Vermont
M assachusetts
Rhode Tsland.
Connecticut,
to
_ _
Total New England
States
New Y o r k . .
New Jersey
Pennsylvania
Delaware
Maryland
Total Eastern States.
Ohio
—
Indiana
Wisconsin
Minnesota
Total Middle Western States.
Washington
Oregon
Total Pacific States.
Total United States
(exclusive of possessions)
Virgin Islands of the
United States
Total United States
and possessions - _ _
Customers' liability on
acceptances outstanding
Other
assets
Total
assets
S3
M
^
o
S3
O
32
33
6
185
8
71
240,341
394,592
107,223
4,019,679
342,144
1,814,539
102,397
132,713
15,743
1,722,115
86, 705
435, 519
15,125
6,912
501
57,268
5,501
32,443
66,066
28,543
2,376
322,160
81,477
317, 293
27,512
32,956
1,427
239,679
24,205
128,187
2,622
1,724
552
22,628
2,732
12,964
12,633
13,192
2,737
91,554
13,530
47,690
2,782
7,913
1,176
38,915
3,403
18,388
438
1,003
123
2,955
40
1,831
502
574
140
23,933
614
2,923
470,418
620,122
131,998
6, 540,886
560,351
2,811,777
O
335
6, 918, 518
2,495,192
117, 750
817,915
453,966
43, 222
181, 336
72, 577
6, 390
28,686
11,135, 552
•U
127 17, 239,691
21
909,795
7 1,084,722
2
51,179
6
330, 571
2,855, 333
239,020
300, 300
21,239
146, 652
398,243 2,209,110
222,948
34,380
741, 592
70, 296
77,788
14,184
83,989
7,585
312,844
19,191
27,713
7,819
5
77, 525
7,137
8, 673
257
2,721
442, 689
33, 598
32,012
5, 577
12,156
153,862
13,001
12, 321
1,919
3, 250
8, 254
157
747
205
268
215, 669
9, 631
13, 343
8
39, 555
23, 913,220
1,488,858
2, 291,719
180,175
626, 752
o
163 19,615,958
3, 562, 544
524,688 3,335,427
367, 572
96, 313
526,032
184, 353
9,631
278, 206
28, 500, 724
O
655
1,170
3,172
1,823
5,192
710
445
134
881
4
141
12
76
75
212
43
1,204
31,335
63, 598
27,767
347,038
2
4
4
1
14,691
33,661
14, 486
222,113
9,791
21,017
8,007
41,947
728
3,022
1,822
21,099
3,276
1,501
1,138
47,055
56
6,812
235
427
246
659
11
284,951
80, 762
26,671
52,970
7, 523
1, 567
11, 357
2,170
233
1,534
469, 738
4
1
270,766
31,830
93, 329
7,358
2,476
389
40,884
4,006
236
942
244
9,943
1,487
1, 880
362
33
1,062
438
421, 518
46,147
5
302,596
100,687
2,865
44,890
236
1,186
11,430
2, 242
33
1,500
467,665
514 27,122,023
6,239,185
671,974 4, 251,202
829, 297
142, 288
730,155
261, 342
16,287
309, 926
40, 573,679
11
25
26
262
142, 299
730,180
309.952
40,573,941
1
515
194
27,122,217 6,239,185
6
671,974 4,251,208
829, 297
261, 342
16,287
H
o
K
Ed
F
F
H
W
o
Cl
S3
S3
M
9
TABLE NO.273..—Officials
Statebanking
departments
andnumber
ofeach
ofactivebanksinDecember1960—Continued
andofliabilities
of active
mutual savings
banks,
Dec. class
31, 196C—Continued
LIABILITIES
[In thousands of dollars]
Demand
deposits
Location
Time
deposits
Total
deposits
&
Maine
New Hampshire,.
Vermont
Massachusetts
Rhode Island
Connecticut
.
_ _ _
_
_
_
Tota JNew England States
Total Eastern States
Ohio
Indiana
Wisconsin
Minnesota
__ _
Total Middle Western States
Washington _
Oregon
_ __
Total Pacific States_
Total United States (exclusive of possessions)
Virgin Islands of the United States
Total United States and possessions
_
Acceptances
executed by
or for
account of
reporting
banks and
outstanding
Surplus1
Undivided
profits
Reserves
28,136
34,068
5,050
367,750
40, 213
140,909
22,345
28,283
4,822
257,052
4,531
97,065
1,704
4,398
1,034
27,502
558
24,328
415,057
543,300
119,809
5,793,099
507,753
2, 521,920
58
1,825
372
3,118
8,248
1,283
95,008
7, 296
27,183
1,374
9,899, 564
9, 900,938
2, 730
142,136
616,126
414,098
59,524
3,307
21,433,807
1,328, 245
2,089,735
159, 739
557,812
21,436,559
1,347,224
2,090,172
159,739
561,119
749
460,425
19,781
21, 594
123
12,617
1,530, 999
90,306
128, 577
19, 653
29,080
345, 207
685
865
277
23,936
139, 281
30,862
50,511
383
25,475
25,569,338
25,594,813
749
51.4,540
1, 798, 615
370,970
221,037
287
5,508
543
28,005
51,551
25,445
320,755
28,292
57,059
25,445
321, 298
460
286
170
1,177
2,275
4,887
1,981
19,000
208
659
163
725
100
707
8
4,838
6,338
425, 756
432,094
2,093
28,143
1,755
5,653
53
11
381, 744
42,852
381,797
42,863
5,161
1,087
24,891
1,192
4,544
862
5,125
68
475
75
W
fef
hj
O
W
H3
O
hrj
415,003
543,281
119,800
5, 792,626
507, 721
2, 521,133
64
424, 596
424,660
75
6,248
26,083
5,406
5,193
33,251
36,319, 254
179
36,352,505
179
3,554
665,017
11
2,468,967
792,229
72
291,407
33,251
36,319,433
36, 352,684
3,554
665,028
2,468,967
792,301
291,407
* Includes guaranty fund and capital notes and debentures of $150,000 for banks in the State of New Hampshire.
Other
liabilities
54
19
9
473
32
787
2,752
18,979
437
New York
New Jersey
Pennsylvania
Delaware
Maryland
Bills payable, rediscounts, and
other liabilities for
borrowed
money
H
O
O
g
H
W
o
F
F
H
W
0
a
1
0
a
w
w
H
1
to
a>
CD
TABLE N O . 4 7 . — A s s e t s
and liabilities of active mutual savings banks, Dec. 81,1960—Continued
O
[In thousands of dollars]
Loans and discounts
Real estate loans
Location
Maine
New Hampshire
Vermont
Massachusetts
Rhode Island
Connecticut
Total New England States
New York
New Jersey
Pennsylvania.
Delaware
Maryland
Total Eastern
States
Ohio
Indiana
Wisconsin
Minnesota
-
Total Middle
Western States...
Secured
by
farm
land
(including
improvements)
Secured
by residential
properties
(other
than
farm)
Loans to financial institutions1
To domestic
Secured commerby
cial
other
and
properforeign
ties
banks
1,473
205,136
3,489
295,013
3,637
81,410
4,968 3,510,477
155
327,364
5,097 1,680,260
22,995
79,967
12,445
424,204
12,118
97,956
18,819 6,099,660
Other
Loans for purchasing or carrying securities
Loans to farmers
To
brokers
and
dealers
in securities
Directly
guaranteed by
the
Commodity
Credit
Corporation
Other
67
695
2,396
1,187
410
2,253
5
233
1,535
1,812
649,685
7,008
7,171 15,510,164 1,61
840,528
126
67,842
907 1,047,855
50,232
41,267
2,022
7,802
282,501
567
25,352
2,509
10,793 17,722,315 1,847,917
2,509
3,769
2,378
113
16,697
22,957
Other
loans to
farmers
(excluding
loans on
real
estate)
Commercial and
Other
indusloans to
trial
individloans
uals for
(includ- personal
ing open expendimarket
tures
paper)
All
other
loans
(including
overdrafts)
9,412
12,625
4,785
85,882
6,785
28,871
1,462
1,003
4
5,218
50
2,566
240,666
395,929
107,395
4,032,288
348,785
1,819,270
148,360
10,303
116
2,904
1,183
352
1,903
2,228
Total
gross
loans
Less
valua- Net loans
tion
reserves
1,337
172
12,609
6,641
4,731
240,341
394,592
107,223
4,019,679
342,144
1,814,539
6,944,333
25,815
6,918,518
750
193
499
86,192
4,172
1,632
124
23,419
19,978 17,416,257
912,731
1,101,376
51,408
1,321
176,566
2,936
16, 654
229
3,088
17,239,691
909,795
1,084,722
51,179
330,571
94,992
115,539
21,362 19,815,431
199,473
19,615,958
15,233
33,938
14,487
225,613
542
277
1
3,500
14,691
33,661
14,486
222,113
289,271
4,320
284,951
93, 550
26,209
12,815
190,443
1,278
4,301
1,453
18,235
34
84
178
1,747
569
106
237,906
25,267
34
84
178
2,660
185
WashingtonOregon
Total Pacific StatesTotal United States
(exclusive of posVirgin Islands of the
United States
Total UnitedStates
and possessions—
53,172
219,002
27,026
49,140
3,931
653
1,820
226
301
270,866
31,836
100
270,766
31,830
246,028
53,071
653
2,046
301
302,702
106
302,596
104, 509
268,605
32,151 27,351,737
229,714
27,122,023
4,305,909 2,575,940
9,551
1,900
74
120
194
194
W
H
*n
o
w
53,172 24,306,029 2,575,940
9,551
1,900
104.509
268,605
32,225 27,351,931
229,714
27,122,217
H
o
* Not reported separately.
M
8§
H3
W
O
P
H
W
O
8
W
W
fei
3
to
TABLE N O . 4 7 . — a n d
liabilities of active mutual savings banks, Dec. 31, 1960—Continued
[In thousands of dollars]
Demand deposits
Location
Maine.
New Hampshire.
Vermont
Massachusetts. - .
Rhode Island
Connecticut
Total New England States..
New York
New Jersey...
Pennsylvania.
Delaware
Maryland
Total Eastern States.
Ohio
Indiana
Wisconsin..
Minnesota.
Total Middle Western States _
Individuals, partnerships,
and corporations
U.S.
Government
States
and
political
subdivisions
Banks
in
United
States
Time deposits
Banks
in
foreign
countries
Certified Individuals, partand
cashiers' nerships,
checks, and corporations
etc.1
61
25
14
5
4
5
610
413,276
543,071
118,576
5,792,465
507,721
2,519,096
138
61
648
663
9,894,205
179
244
16,762
2,257
197
437
13
256
1,577
277
18,583
3,280
3,280
Total Pacific States
Total United States and possessions..
376
386
Postal
savings
States
and
political
subdivisions
Banks
in
United
States
1,686
190
1,209
161
20
15
4,129
1,051
6,133
73
45
185
10
1,016
300
1,345
21,433,807
1,321,927
2,089,652
159,694
557,804
325
3,322
25,562,884
6,251
203
278
149
543
25,443
50,844
25,326
320,755
2,562
695
107
12
7
970
422,368
3,364
19
381,714
42,644
48
160
424,358
48
190
13,792
25
1,703
1,703
1,739
63
21,925
4,064
325
4,955
36,303,815
179
21,925
4,064
325
4,955
36,303,994
i Includes dividend checks, letters of credit, and travelers' checks sold for cash.
41
29
5
4
468
26
116
Washington..
Oregon-
Total United States (exclusive of
possessions)
Virgin Islands of the United States
U.S.
Government
184
13,792
1,463
TABLE NO.
48.—Assets and liabilities of active private banks, Dec. 81, 1960
SO
m
ASSETS
o
w
[Dollar figures in thousands]
H3
Number of
banks
Location
U.S. GovObligaernment
tions of
Loans and
States
discounts, obligations,
including direct and and politoverdrafts guaranteed ical subdivisions
Other
bonds,
notes,
and
debentures
Corporate
stocks
Currency
and
coin
Balances
Real
with other Bank
banks, in- prem- estate
ises
owned
cluding reserve bal- owned, other
furnithan
ances and
ture
bank
cash items
and
premin process
ises
of collec- fixtures
tion
Connecticut
1
1,340
378
18
35
14
77
351
65
New York
Pennsylvania
2
5
102,399
5,042
19,065
5,723
75,499
457
508
200
7,893
51
270
321
74,801
1,284
1,159
60
Total Eastern States
Georgia
Texas
_
_
-
Total Southern States.—
Indiana
Iowa
60
60
7
107,441
24,788
75,956
708
7,944
591
76,085
1,219
8
6,078
10,006
590
8,050
91
4,148
340
1,400
15
288
341
767
3,838
7,121
281
558
48
5
42
16,084
8,640
4,239
1,740
303
1,108
10,959
839
53
4
7
2,538
6,371
3,248
3,204
349
258
4
14
108
159
955
1,861
40
38
2
11
8,909
6,452
607
18
Total United States
61
133,774
40,258
80,820
2,501
8
35
7
Total Middle Western
States
8,261
Investments
and other
assets indirectly
representing bank
premises
or other
real estate
Customers' liability on
accepances
outstanding
267
2,816
78
2
4
90,211
2,201
63
64
Other
assets
Total
assets
H
w
H
Q
O
S
•d
H
td
of
4
2,282
19,169
3,670
8
304,433
13,214
19,169
3,678
317,647
1
150
13
11,773
32,356
1
163
44,129
3
7,251
11,905
B
a
»
3
19,156
w
3,848
383,214
4
2,043
O
19,170
F
H
W
O
§
to
00
to
<1
TABLE NO.
48.—.
W
M
•d
O
SJ
and liabilities of active private banks, Dec. 81, 1960—Continued
LIABILITIES
O
[In thousands of dollars]
Location
Connecticut
Demand
deposits
—
New York
Pennsylvania
Total Eastern States
Georgia
Texas
Total Southern States
Indiana
Iowa
Total Middle Western States.
Total United States
Time
deposits
Total
deposits
Bills payable,
rediscounts,
and other
liabilities for
borrowed
money
Acceptances
executed by or
for account of
reporting
banks and
outstanding
Other
liabilities
Capital
stock
Surplus
Undivided
profits
1,808
300
2,108
223,863
4,711
18,221
242,084
10,997
8,777
450
21,381
1,902
9
5,000
16,172
1,745
185
228,574
24,507
253,081
9,227
21,381
8,911
5,000
17,917
185
8,466
23,533
1,290
5,166
9,756
28,699
1
112
28
1,333
704
1,565
183
295
31,999
6,456
38,455
140
2,213
2,269
478
5,066
9,741
1,535
1,385
6,601
11.126
175
205
185
242
191
254
14,807
2,920
17,727
277,188
34,183
311,371
171
380
9,263
21,382
9,123
427
445
20,613
1,279
and
of active
private banks,
Dec. 31,
1960—Continued
TABLE NO.279..—Officials
ofliabilities
Statebanking
departments
andnumber
ofeach
classofactivebanksinDecember1960—Continued
[In thousands of dollars]
W
H
hd
O
td
H
Loans and discounts
Loans to financial institutions
Real estate loans
Location
Secured
by
farm
land
(including
improvements)
Connecticut
Other
Loans to farmers
To
brokers
and
dealers
in securities
Directly
guaranteed by
the
Commodity
Credit
Corporation
Other
Other
loans to
farmers
(excluding
loans on
real
estate)
10,109
20
2,947
12,459
58
270
10,129
2,947
12, 517
Other
loans to
individuals for
personal
expenditures
All
other
loans
(including
overdrafts)
O
a
Total
gross
loans
Less
valua- Net loans
tion
reserves
748
249
1341
1
1,340
449
72,057
337
1,831
590
2,744
1,570
102,417
5,057
18
15
102,399
5,042
449
72,394
2,421
4,314
107,474
33
107,441
5
270
Commercial and
industrial
loans
(including open
market
paper)
261
1,094
678
261
1,094
678
1,210
161
1,053
682
476
394
85
10
54
15
338
680
1,097
577
3,445
1,686
3,335
260
529
6,081
10,006
3
6,078
10,006
1,371
1,735
870
95
69
338
1,777
4,022
5,021
789
16,087
3
16,084
49
353
735
357
100
174
147
242
610
3,962
329
730
560
535
32
18
2,562
6,371
24
2,538
6,371
389
4,572
1,059
1,095
50
8,933
24
8,909
727
6,798
78, 223
8,786
5,153
133,835
61
133,774
Total Eastern States
Totai
Southern
States
To domestic
Secured commerby
cial
other
and
properforeign
ties
banks
339
New York
Pennsylvania
Georgia
Texas
Secured
by residential
properties
(other
than
farm)
Loans for purchasing or carrying securities
Indiana
Iowa
Total Middle West-.
ern States
402
1,092
274
Total United States -
2,034
4,260
1,822
275
10,224
2,947
12, 586
o
o
B
•d
H
W
O
F
F
H
td
0
a
1
a
td
W
M
3
to
•<1
Oi
to
TABLE NO.
Sd
fet
he*
O
w
48.—Assets and liabilities of active private banks, Dec. 81, 1960—Continued
[In thousands of dollars]
Demand deposits
Location
Individuals, partnerships,
and corporations
U.S.
Government
Total United States
a
w
ft
o
2,000
12,173
40
14,362
35,735
28,378
10,334
2,000
12,173
150
1,249
449
42
225
1,255
4, 585
29,884
150
1,249
449
267
5,840
616
4,383
9,399
43
598
342
42
1,426
1,373
109
12
13,782
43
940
42
2, 799
121
w
737
o
A
Sd
Sd
H
195,474
194
2,266
i Includes dividend checks, letters of credit, and travelers' checks sold for cash
Banks
in
foreign
countries
300
8,424
21,460
--
Banks
in
United
States
4,048
6, 286
1
Total Middle Western States
States
and
political
subdivisions
19
150,053
Total Southern States
Postal
savings
28,342
36
40
2
U.S.
Government
35,735
1
Indian?
Iowa
IndividBanks
Certified
uals, partin
and
foreign
cashiers' nerships,
countries checks, and corporations
etc.1
14,362
1,750
145,423
4,635
Georgia
Texas
Banks
in
United
States
37
Connecticut..
New York
Pennsylvania
Total Eastern States
States
and
political
subdivisions
o
Time deposits
14,813
35,735
28,706
19, 273
35
581
td
o
t-»
tr1
»
td
o
a
2,000
12,173
9
R E P O R T OF T H E
COMPTROLLER OF T H E
CURRENCY
277
capita demand and time deposits of individuals, partnerships,
and corporations in all active banks, Dec. 81, 1960
TABLE N O . 4 9 . — P e r
Population
(approximate)
Location
Maine
New Hampshire
Vermont
Massachusetts
Rhode Island
Connecticut
...
Total New England
States
New York
New Jersey
Pennsylvania
Delaware
Maryland
District of Columbia
Total
Demand
976,000
614,000
392,000
5,195,000
867,000
2,587,000
$1,010,832
893,811
490,231
10,144,113
1,319,852
4,631,701
$300,744
194,285
119,100
3,581,518
387,416
1,505,356
10,631,000
18,490,540
6,088,419 12,402,121
16,973,000
6,186,000
11,407,000
460,000
— 3,176,000
763,000
Total Eastern States. 38,965,000
Virginia
West Virginia
North Carolina.
South Carolina
Georgia
Florida
Alabama
Mississippi
Louisiana
Texas
Arkansas
Kentucky...
Tennessee
Total Southern
States
Ohio
Indiana
Illinois
Michigan
Wisconsin
Minnesota
Iowa
Missouri
Total Middle Western States
Deposits of individuals, partnerships, and corporations (in thousands)
4,029,000
1,856,000
4,605,000
2,409,000
3,991,000
5,227,000
3,290,000
2,183,000
3,312, 000
9,760, 000
1,783,000
3,052,000
3, 596,000
Time
Per capita
Total
$710,088 $1,035.69
699,526 1,455,72
371,131 1,250.59
6, 562,595 1,952.67
932,436 1, 522.32
3,126,345 1,790.38
Demand
Time
$308.14
316.43
303.83
689.42
446.85
581.89
$727. 55
1,139.29
946.76
1,263.25
1,075.47
1,208.49
1,739.30
572.70 1,166.60
53, 744, 559 24,079,024 29, 665, 535
3,323,410 4,438,325
7,761,735
7,402,282 7,134,458
14, 536,740
481,028
301,265
782,293
1,373,247 1,270,329
2, 643,576
1,032,535
360,870
1,393,405
3,166.47
1,254. 73
1,274.37
1,700. 64
832.36
1,826.22
1,418.66 1,747.81
537.25
717.48
648.92
625.45
1,045.71
654.93
432.38
399.98
1,353.26
472. 96
37,691,526 43,170,782
2,075.25
967.32 1,107.93
1,201,460
* 432, 767
651, 550
169, 939
716, 081
1,254,895
602,999
328,931
681,613
2,329,847
311,850
486,630
1, 020,376
666.24
578.06
482.38
335.64
557.01
723.81
515.15
463.65
654.89
942. 55
595.01
604. 65
699.82
368.04
344. 89
340.89
265. 09
377. 58
483.73
331.87
312. 97
449.09
703.84
420.11
445.21
416. 06
298.20
233.17
141.49
70. 55
179. 43
240. 08
183.28
150.68
205.80
238.71
174.90
159.44
283.76
22,102, 650 10,188,938
657.76
450.22
207.54
4,325,439
1, 565,390
5,282,181
3,917,914
1,969,849
1,779, 834
949, 667
1,365,661
987. 90
838.42
1,399.13
955. 09
1.020.32
1,061.83
950.97
1.077.33
549.88
507.61
881. 93
463. 08
528.11
546.83
608.63
763.89
438. 02
330.81
517.20
492.01
492.21
515.00
342.34
313.44
29, 546, 546 21,155, 935
1,070.30
623.71
446. 59
80,862,308
2,684,296
1,072,887
2,221,345
808. 546
2,223,016
3,783,357
1,694,846
1,012,148
2,168,996
9,199,310
1,060,900
1,845,405
2, 516, 536
49,093, 000
32,291, 588
9, 875,000
4,732,000
10,213,000
7, 963,000
4,002,000
3,456,000
2, 774,000
4,357,000
9, 755, 500
3,967,387
14, 289,267
7, 605,410
4, 083,336
3, 669,669
2, 637, 995
4, 693, 917
47,372, 000
50, 702,481
1,482,836
640,120
1,569,795
638,607
1,506,935
2, 528,462
1,091,847
683,217
1,487,383
6,869,463
749,050
1,358,775
1,496,160
5,430,061
2,401,997
9, 007,086
3,687,496
2,113,487
1, 889,835
1,688,328
3,328,256
R E P O R T OF T H E
COMPTROLLER
OF T H E
C U R R E N C Y 278
Table No. 49—Per capita demand and time deposits of individuals, partnerships,
and corporations in all active banks, Dec. 81, 1960—Continued
Population
(approximate)
Location
Deposits of individuals, partnerships, and corporations (in thousands)
Total
Demand
Per capita
Time
Total
Demand
Time
$602,267
630,221
1,316,441
1,769,034
685,821
331,874
1,666,135
532,087
2,131,617
$364,973
397,703
1,085,459
1,258,886
429,573
207,681
1, 111, 448
371,978
1,602,061
$237,294
232,518
230,982
510,148
256,248
124,193
554,687
160,109
529,556
$948.45
921.38
926.42
802.28
1,004.13
993.63
927.18
543.50
910.56
$574.76
581.44
763.87
570.92
628.95
621.80
618.50
379.96
684.35
$373.69
339.94
162. 55
231.36
375.18
371.83
308.68
163.54
226.21
9,665,497
6,829,762
2,835,735
872,42
616.46
255.96
1,437,698
2, 744,729
869,877
1,708,043
20,393,445 10, 590,023
307,210
542,943^
414,713
775,506
195,627
359,898
666, 549
1,054,304
96,302
146,660
284, 548
516,223
1,307,031
838,166
9,803,422
235,733
360,793
164,271
387,755
50,358
231,675
947.11
952.62
1,253.28
804.36
852.20
1,195,67
769. 56
616.22
799.11
496.10
485.15
650.81
455.13
455. 73
649.92
486.53
404.63
440.48
451.01
467.47
602.47
349.23
396.47
545.75
283.03
211. 59
358.63
14,862, 547 13,379,204
1,125.03
592.06
532.97
Total United States
(exclusive of pos182,243,000 220,254,165 117,121.450 103,132,715
sessions)
North Dakota
South Dakota
Nebraska
Kansas
Montana
Wyoming
Colorado
New Mexico
Oklahoma
-
-
-
Total
Western
States
Washington
Oregon
California
Idaho
Utah
Nevada
Arizona
Alaska
Hawaii
635,000
684,000
1,421,000
2,205,000
683,000
334,000
1,797,000
979,000
2,341,000
11,079,000
2,898,000
1,793,000
16,272,000
675, 000
910,000
301,000
1,370,000
238,000
646,000
Total Pacific States. 25,103,000
Canal Zone (Panama)
Guam
Puerto Rico
American Samoa
Virgin Islands of the
United States
42,000
68,000
2,370,000
20,000
28, 241,751
9,275
16,662
452,312
1,487
7,906
7,541
224, 780
402
1,208.57
642.66
565.91
1,369
9,121
227, 532
1,085
220.83
245.03
190.85
74.35
188.24
110. 90
94.84
20.10
32.59
134.13
96.01
54.25
33, 000
19,849
8,194
11,655
601.48
248.30
353.18
2, 533,000
499, 585
248,823
250,762
197.23
98.23
99.00
Total United States
184,776, 000 220,753,750 117,370,273 103,383,477
and possessions
1,194.71
635.20
559.51
Total possessions
TABLE NO.283..—Officialsof State banking departments and number of each class of active banks in December 1960—Continued
Mutual savings
State commercial1
Location
Maine
Vermont
Massachusetts
Connecticut
Names of officials
Titles
State Bank Commissioner
Carleton L. Bradbury
Harrison S. King
__
Bank Commissioner
^
Commissioner of Banking and Insurance..
- - Alexander H. Miller
Edward A. Counihan, III. Commissioner of Banks
Carroll Tilman
Bank Commissioner
_,
do
Philip Hewes
Total New England States.
New York
New Jersey
Pennsylvania
Delaware
Maryland
District of Columbia
G Russell Clark
. _
Charles R. Howell
. .
Robert L. Myers, Jr
Randolph Hughes
W . Robert Milford
Superintendent of Banks
Commissioner of Banking and InsuranceSecretary of Banking
State Bank Commissioner
Bank Commissioner
-
Total
Eastern
States.
Virginia
West Virginia
North Carolina
South Carolina
Georgia
Florida
Alabama
Mississippi
Louisiana
Texas
Arkansas
Kentucky
Tennessee
Logan R. Ritchie
Carl B. Early .
Ben R. Roberts
C V. Pierce
W D Trippe
- ...
RayTCrGreen
John C. Curry
R. D. Morrow, Jr
.
J. w . Jeansonne
J. M . Falkner
.
Dick Simpson
_ _ __ .
Hugh A. Rogers
M . A. Bryan
Total Southern
States.
See footnotes at end of table.
Commissioner of Banking
do
Commissioner of Banks
Chief Bank Examiner
Superintendent of Banks
State Commissioner of Banking
Superintendent of Banks
State Comptroller...
State Bank Commissioner
Commissioner, Department of Banking...
State Bank Commissioner
Commissioner, Department of Banking...
Superintendent of Banks
Total
Insured
number
of
Members
Nonbanks
Federal members
Reserve Federal
Reserve
System
System
Noninsured
5
4
1
5
1
8
22
33
6
8
8
71
Private
Insured
NonMembers
Federal members
Reserve Federal
Reserve
System
System
Noninsured
56
56
31
253
13
118
21
1
9
13
18
24
42
3
29
527
38
129
24
148
290
114
248
19
89
7
109
55
71
2
8
4
42
35
158
14
74
3
10
3
7
1
1
127
21
2
5
1
767
249
326
22
162
1
176
105
147
120
349
190
169
166
148
539
182
268
222
69
34
3
6
14
10
24
8
11
106
21
16
8
107
70
143
108
296
175
145
156
136
416
156
242
208
2
1
10
5
10
6
2,781
330
2,358
51
6
1
1
1
6
4
5
Noninsured
10
177
1
187
1
2
5
7
35
7
42
T A B L E N o . 5 0 ..—Officials of
State banking departments and number of each class of active banks in December 1960—Continued
State commercial1
Location
Ohio
Indiana
Names of officials
_
Raymond H. Willett..
. . . Joseph McCord
Illinois
Michigan.
Conrad F. Becker...
Jerome J. Zielinski.
Wisconsin
Minnesota
Iowa
Missouri
William E. Nuesse
Irving C. Rasmussen..
Joe H. Gronstal
G. H. Bates
Titles
Superintendent of Banks
Director, Department of Financial Institutions.
do
Commissioner, State Banking Department.
Commissioner of Banks
do
Superintendent of Banking
Commissioner of Finance
Total Middle Western States.
North Dakota
South Dakota
Nebraksa
Kansas
Montana
Wyoming
Colorado
New Mexico
Oklahoma
G. H. Russ, J r . . .
Gorden H. Maxam
Edwin N . Van Home..
J. A. O'Leary
R. E. Towle
Norris E. Hartwell
Frank E. Goldy
Joseph B. Grant
Carl B. Sebring
State Examiner
Superintendent of Banks...
Director of Banking
State Bank Commissioner..
Superintendent of Banks...
State Examiner
State Bank CommissionerState Bank Examiner
Bank Commissioner
Total Western
States.
Washington
Oregon
California
Idaho
Utah
Nevada
Arizona
Joseph C. McMurray.
J. F. M . Slade
William J. Murphy...
R. U. Spaulding
Spencer C. Taylor
Grant L. Robison
A. J. Grasmoen
Supervisor of Banking
Superintendent of Banks
do
Commissioner of Finance
Acting Bank Commissioner.
Superintendent of Banks
do
Total
Insured
number
of
Members
Nonbanks Federal members
Reserve Federal
System
Reserve
System
Private
Mutual savings
Insured
NoninNonMembers
sured
Federal members
Reserve Federal
Reserve
System
System
364
322
149
99
212
2 213
1
3
570
304
127
140
437
162
6
2
464
511
575
549
58
29
68
94
397
471
471
439
5
10
29
816
2
3,659
764
2,802
72
2
118
141
305
420
79
29
111
26
189
2
26
18
46
44
14
18
8
26
113
115
253
370
33
15
66
18
160
1,418
202
1,143
73
65
42
77
22
43
4
7
9
4
21
8
13
2
1
50
35
51
14
26
2
5
2
2
5
2
4
1
8
1
3
27
3
1
4
1
Noninsured
3
1
1
34
4
2
4
Noninsured
7
10
A. H. Romick
James C. Davis, Jr.
Alaska.
Hawaii.
Commissioner of Commerce.
Supervising Bank Examiner.
Total Pacific States.
Total United States
(exclusive of possessions).
Puerto Rico
American Samoa
Virgin Islands of
United States.
Secretary of the Treasury.
the
Total possessions
5
4
5
276
68
190
23
9,428
1,641
6,948
265
10
1
2
7
3
1
1
1
13
7
6
1
6,956
270
9,441
Total United States
and possessions.
i Includes stock savings banks.
* Includes 1 private bank.
* Includes 1 trust company which is
6
10
1,641
5
2
2
323
323
189
190
60
W
H
*
O
W
O
60
a
H
member of the Federal Reserve System
8
H
W
O
P
H
W
O
H
a
w
w
M
3
to
00
to
OO
to
TABLE NO.
51.—Assets and liabilities of all active banks, Dec. 81, 1986 to 1960
[Dollar figures in thousands]
Number
of banks
1937
1938.
1939.
1940.
1941.
1942
1943
1944.
1945.
1946.
1947.
1948.
1949.
1950.
1951.
1952
1953
1954
1955
1956.
1957.
1958.
1959.
1960.
15.704
15,463
15,265
15,096
14,956
14,885
14,722
14,621
14, 579
14, 598
14,633
14, 755
14,735
14.705
14,666
14,636
14,596
14,538
14,388
14,265
14,188
14,103
14,034
13,984
13,971
Loans and U.S. Government
discounts,
including obligations,
overdrafts direct and
guaranteed
Other
bonds,
stocks,
and
securities
$21,613,328 $17, 497,059 $10,700,905
9,828,984
22, 342, 879 16,660,068
9,664,255
21, 535,406 18,002,042
9,348,161
22, 374, 700 19, 447,464
9,499,776
23,967,476 21,028,798
9,035,537
26,838,365 25, 553, 809
8,312,249
24,001,146 46,059, 111
7,466,862
23, 674, 539 66,259,384
7, 596,205
26,101, 639 86,414, 755
8,611,660
30.466.867 101,904,073
9,543,221
35.822.868 87,093, 517
43,231,136 81,636,938 10,760,398
48,452,743 74,462,553 11,470,848
49,828,162 78,753,673 12,682,551
60,711,146 73,188,217 14,816,545
68,000,966 71, 595,087 15,991,176
75,928,803 73,010,835 17,449,091
80,920,155 72,872,466 18,452,644
86,058,272 78,004,064 20, 519,756
100, 575,185 70, 309, 691 20, 754,037
110,632,011 66,795,281 20,556, 588
115,759,782 66,066,124 23,051,813
122,287,478 73,935,092 26,389,891
136,409,682 65, 881, 700 26,130,673
145,254,712 67,343,341 26,673,673
Cash
Balances
with other
banks 1
$1,025,586 $15,871,668
907,871 15,065,962
<<)
18,373,644
1,196,539 22,197,935
1,407,364 26,846, 418
1, 545,018 25,942,377
1,463,836 27,371,581
1, 612,252 26,999,933
1,801,370 29,175,791
2,025,088 33,589,693
2,221,793 32,995,748
2,392,970 36,167,173
2,145,156 37,490,369
2,185,256 34,490,538
2,343,064 38,892,739
2,890,421 42,826,197
2,938,679 42,825,197
2,690,476 43, 301,133
2,657,128 42,097,116
2, 873,239 45,105,892
3,454,476 46,382, 257
3, 532,901 46,006,103
3,451,865 46,695,132
3,169, 565 47,192, 451
3, 512,975 49,592,216
* Includes reserve balances and cash items in process of collection.
Includes capital notes and debentures in banks other than national.
»Includes reserve accounts.
* Not called for separately. Included with "Balances with other banks."
2
Back figures.—See reference in heading of table 46, p. 190, in 1953 annual report, to
Other
assets
$3,402,165
3,271,994
3, 258,252
3,010,458
2,822,070
2, 538,588
2,334,654
2,109,008
1,857.424
1,753, 694
1, 729,215
1,835,487
2,053, 761
2,102,933
2,288,962
2, 558.776
2,677,998
2,895,929
3,348,420
3,486,967
4,144,714
4,770,796
5,120,701
5,573,660
6,555,976
w
fel
Total assets
$70,110,711
68,077,758
70,833, 599
77,575,257
85,571,902
91,453, 694
109, 542, 577
128,121,978
152,947,184
178,351,075
169, 406,362
176,024,102
176,075,430
180,043,113
192,240,673
203,862,623
214,830,603
221,132,803
232,684, 756
243,105,011
251,965,327
259,187,519
277,880,159
284,357,731
298,932,893
Capital 2
$3,293. 014
3.223,110
3,192,493
3,125, 524
3,070,519
3,034,361
2,985,391
3,011,600
3,052,950
3,187,368
3, 299, 469
3,342,600
3,423,195
3,548,731
3.670,249
3,840,006
4,016,796
4,173,707
4,428,194
4,706,970
5,007, 583
5,308,140
5,568,057
6,005, 570
6,351,616
reports containing figures since 1834.
covered June 30 only.)
Surplus
and
undivided
profits 3
Total
deposits
$4,849,310
4,949,834
5,016,435
5,169,647
5,339,039
5,460,776
5,619,637
6,034,091
6,640,166
7,424,243
8,138,479
8,654,798
9,130,608
9,616,859
10,245,616
10,866,262
11,437,192
12,035,657
12,936,050
13, 503,336
14,342,869
15,228,280
16,253, 667
16,967, 581
18,251,083
$61,155,014
59,109,903
61,907,761
68, 566,043
76,407,885
82,233,260
100,265,638
118,336,126
142,310,824
166,530,093
156,801,396
162,728,682
162,041,389
165,244,044
176.120,158
186,603,665
196,431,356
201,978,297
212.030,341
221,391, 573
228, 578,958
234,178,092
251,331, 512
255,496,780
266,884, 548
Bills payable and
Other
redisliabilities
counts,
etc.
$57,247
50,816
36,612
25,551
25,060
22,593
18,638
51, 650
125, 624
227,150
48,403
74,614
64,320
27,195
94.607
44,008
196,234
66,803
32,915
174,195
88,202
97,990
96,544
648,852
184,371
$756,126
744,095
680,298
688,492
729,399
702, 704
653,273
688, 511
817, 620
982,221
1,118,615
1,223,408
1,415.918
1,606,284
2,110,043
2, 508,682
2,749,025
2,878,339
3,257,256
3,328,937
3,947,715
4,375,017
4,630,379
5,238,948
7,261,275
(Comparable figures for years prior to 1936
NoTE.-Reciprocal interbank demand balances with banks in the United States are
reported net beginning with the year 1942.
o
W
o
a
o
o
K
hd
^
w
o
p
H
»
O
H
O
d
w
w
«
a
TABLE
No. 52.—Assets and liabilities of all active national banks, Dec. 81, 1986 to 1960
[Dollar figures in thousands]
Number
of banks
1936.
1937.
1938.
1939.
1940.
1941.
1942.
1943.
1944.
1945.
1946.
1947.
1948.
1949.
1950.
1951.
1952.
1953.
1954.
1955.
1956.
1957
1958.
1959.
1960.
5,331
5,266
5,230
5,193
5,150
5,123
5,087
5,046
5, 031
5,023
5,013
5.011
4,997
4,981
4,965
4,946
4.916
4,864
4, 796
4,700
4, 659
4, 627
4, 585
4,542
4,530
Loans and U.S. Government
discounts,
including obligations,
overdrafts direct and
guaranteed
and
securities
$8, 271,210
8,813, 547
8,489,120
9,043,632
10,027, 773
11, 751, 792
10, 200,798
10,133, 532
11,497, 802
13,948,042
17,309, 767
21,480,457
23,818, 513
23,928,293
29,277,480
32,423,777
36,119,673
37,944,146
39,827, 678
43, 559, 726
48,248,332
50, 502, 277
52, 796, 224
59,961,989
63, 693, 668
$4,094,490
3,690,122
3, 753,234
3, 737, 641
3, 915, 435
3,814,456
3,657, 437
3,325, 698
3, 543, 540
4,143,903
4, 799, 284
5,184, 531
5,248,090
5,937, 227
7, 331,063
7, 887, 274
8, 355, 843
8, 621, 470
9, 425, 259
9,166, 524
8, 823,307
9,643, 633
10,963,464
10,891, 885
11,140,471
$8, 685, 554
8,072,882
8, 705, 959
9,073,935
9, 752, 605
12,073,052
23,825,351
34,178, 555
43,478, 789
51,467,706
41,843, 532
38, 825,435
34,980,263
38, 270, 523
35, 691, 560
35,156,343
35,936,442
35, 588, 763
39, 506, 999
33, 690, 806
31,680,085
31,338,076
35,824,760
31,760,970
32,711,723
Other
bonds,
Cash
$518, 503
422,490
555,304
615,698
718,799
786, 501
733,499
807,969
904. 500
1,008, 644
1,094,721
1,168,042
1,040,763
1,059,663
1,147,069
1, 418, 564
1, 446,134
1, 292, 254
1, 279,171
1,388,250
1, 706, 507
1,734, 533
1,675,827
1, 521,334
1,721,492
Balances
with other
banks *
Other
$8, 462, 578
8,128,003
9,151,105
11, 887, 915
14,401,268
14, 215,429
15, 516, 771
15, 272, 695
16. 732, 749
19,170,145
18,972, 446
20,907, 548
21, 983, 506
19,985, 295
22, 666,366
24, 593, 594
24, 953, 269
25, 253, 264
24, 442, 726
24,375, 190
25. 375, 990
25,130, 601
25,188,993
25,942,911
26,953,014
$1,032,327
977,186
1,011, 455
960,436
918,082
897,004
847,122
813,468
792,479
797, 316
830, 513
880,987
1,063, 917
1,058,178
1,126, 555
1,259, 008
1,321,382
1,416, 802
1, 668, 736
1, 569, 791
1, 867, 761
2,173, 520
2, 347, 698
2, 557,024
3, 040, 499
1 Includes reserve balances and cash items in process of collection.
Includes reserve accounts.
2
Total assets
$31,064,662
30,104,230
31, 666,177
35,319,257
39, 733,962
43, 538,234
54,780,978
64, 531,917
76, 949,859
90, 535,756
84,850,263
88,447,000
88,135,052
90, 239,179
97,240,093
102, 738, 560
108,132, 743
110,116,699
116,150, 569
113, 750,287
117, 701,982
120, 522,640
128,796,966
132, 636,113
139,260, 867
Capital
$1, 598,815
1,577,831
1, 570, 622
1, 532, 903
1, 527, 237
1, 515, 794
1, 503,682
1, 531, 515
1, 566, 905
1, 658, 839
1, 756, 621
1, 779, 766
1,828, 759
1, 916, 340
2, 001, 650
2,105, 345
2, 224,852
2,301, 757
2, 485, 844
2, 472, 624
2, 638,108
2, 806,213
2. 951, 279
3,169, 742
3,342,850
Surplus
and
undivided
profits 2
$1, 572,195
1,666,367
1,757, 522
1,872,215
2,009,161
2,133, 305
2,234, 673
2,427, 927
2, 707, 960
2, 996,898
3,393,178
3,641, 558
3, 842,129
4.018,001
4,327, 339
4, 564, 773
4,834, 369
5,107, 759
5, 618, 398
5,463, 305
5, 834,024
6,287,004
6, 717, 522
7,132. 375
7, 755,488
Total
deposits
$27, 608,397
26, 540,694
28,050, 676
31,612,992
35,852, 424
39, 554, 772
50, 648,816
60,156,181
72,128.937
85,242,947
79,049,839
82,275,356
81,648,016
83,344,318
89, 529, 632
94,431, 561
99, 257, 776
100,947,233
106,145,813
104,217,989
107,494.823
109,436,311
117,086,128
119, 637,677
124,910,851
Bills payOther
able and
liabilities
rediscounts,
etc.
$3,495
10,839
5,608
2,882
3,127
3,778
3, 516
8,155
54,180
77,969
20,047
45,135
41,330
7,562
76,644
15,484
75,921
14, 851
11,098
107,796
18,654
38,324
43,035
340,362
110,590
$281,760
308,499
281,749
298,265
342,013
330,585
390,291
408,139
491,877
559,103
630, 578
705,185
774.818
952,958
1,304,828
1,621,397
1,739, 825
1,745,099
1, 889,416
1,488, 573
1, 716,373
1,954,788
1,999,002
2,355,957
3,141,088
NOTE.—Reciprocal interbank demand balances with banks in the United States are
reported net beginning with the year 1942.
W
H
hj
O
W
H
O
^
H
O
O
K
w
o
IT1
F
H
W
O
a
§
»
w
H
3
Back figures.—See reference in heading of table 47, p. 191, in 1953 annual report, to
reports containing figures since 1863
to
00
CO
to
OO
TABLE NO.
5 3 . — A s s e t s and liabilities of all active banks other than national} Dec. 81, 1936 to 1960
[Dollarfiguresin thousands]
w
H
Number of
banks
193 7
193 8
1939
1940
194 1
1942
1943
1944......
1945
1946......
1947
194 8
1949......
1950
195 1
1952......
1953
1954
1955——
195 6
195 7
1958
195 9
1960
Loans and U.S. Government
discounts,
including obligations,
overdrafts direct and
guaranteed
10,373 $13,342,118
10,197 13, 529,332
10,035 13,046,286
9,903 13,331,068
9,806 13,939,703
9,762 15,086, 573
9,635 13,800,348
9,575 13, 541,007
9,548 14,603,837
9,575 16, 518,825
9,620 18, 513,101
9,744 21,750,679
9,738 24,634,230
9,724 25, 899, 869
9,701 31,433, 666
9,690 35, 577,189
9,680 39,809,130
9,674 42,976,009
9,592 46,230,594
9,565 57,015,459
9,529 62,383,679
9, 476 65,257,505
9,449 69,491,254
9,442 76,447,693
9,441 81, 561,044
$8,811,505
8,587,186
9,296,083
10,373, 529
11,276,193
13,480,757
22,233,760
32,080,829
42, 935,966
50,436,367
45,249,985
42,811, 503
39,482,290
40,483,150
37,496,657
36,438,744
37,074,393
37,283,703
38,497,065
36,618,885
35,115,196
34,728,048
38,110,332
34,120,730
34,631,618
Other
bonds,
stocks,
and
securities
$6,606,415
6,138,862
5,911,021
5, 610,520
5, 584,341
5,221, C81
4,654,812
4,141,164
4,052,665
4.467.757
4,743,937
5, 575,867
6.222.758
6,745, 324
7,485,482
8,103,902
9,093,248
9,831,174
11,094,497
11, 587, 513
11,733,281
13,408,180
15,426, 427
15,238, 788
15, 533,202
Cash
$507,083
485,381
(3)
580,841
688, 565
758, 517
730,337
804,283
896,870
1,016,444
1,127,072
1,224,928
1,104,393
1,125, 593
1,195,995
1,471,857
1,492, 545
1,398,222
1,377,957
1,484,989
1,747,969
1, 798,368
1,776,038
1, 648,231
1,791,483
Balances
with other
banks 1
$7,409,090
6,937,959
8,667,235
10,310,020
12,445,150
11, 726,948
11,854,810
11,727, 238
12,443,042
14,419, 548
14,023,302
15,259,625
15,506,863
14,505,243
16,226,373
18,232,603
17,871,928
18,047. 869
17,654,390
20,730,702
21,006,267
20,875,502
21,506,139
21,249, 540
22,639,202
Includes reserve balances and cash items in process of collection.
Includes reserve accounts.
a Not called for separately. Included with "Balances with other banks."
1
2
Other
$2,369,838
2,294,808
2,246,797
2,050,022
1,903,988
1,641, 584
1,487, 532
1,295, 540
1,064,945
956,378
898,702
954,500
989,844
1,044,755
1,162,407
1,299,768
1,356,616
1,479,127
1,679.684
1,917,176
2,276,953
2, 597,276
2,773,003
3,016,636
3,515,477
Total
$39,046,049
37,973, 528
39,167,422
42,256,000
45,837,940
47,915,460
54,761, 599
63,590,061
75,997,325
87,815,319
84,556,099
87,577,102
87,940,378
89,803,934
95,000, 580
101,124,063
106,697,860
111, 016,104
116,534,187
129,354,724
134,263,345
138,664,879
149,083,193
151, 721,618
159,672,026
Capital
stock
$1,489,354
1,471,533
1,459,015
1,450,873
1,420,148
1,410,373
1,382, 507
1,389,943
1,403,725
1,456,449
1, 475,054
1,500,807
1, 546,005
1,583,954
1,621,492
1,695,205
1,745,470
1,828,615
1,896,592
2,183,182
2,319,177
2,452,897
2,559,089
2,779,614
2,955,397
Capital
notes
and
debentures
Surplus
and
undivided
profits 2
$204,845
173,746
162,856
141,748
123,134
108,194
99,202
90,142
82,320
72,080
67,794
62,027
48,431
48,437
47,107
39,456
46,474
43,335
45,758
51,164
50, 298
49,030
57,689
56,214
53,369
$3,277,115
3,283,467
3,258,913
3,297,432
3,329,878
3,327,471
3,384,964
3,606,164
3,932, 206
4,427,345
4,745,301
5,013,240
5,288,479
5,598,858
5,918,277
6,301,489
6,602, 823
6,927,898
7,317,652
8,040,031
8,508,845
8,941,276
9,536,145
9,835,206
10,495,595
Total
deposits
$33,546,617
32,569,209
33,857,085
36,953,051
40,555,461
42,678,488
49,616,822
58,179,945
70,181,887
81,287,146
77,751, 557
80,453,326
80,393,373
81,899,726
86, 590, 526
92,172,104
97,173, 580
101,031,064
105,884,528
117,173, 584
121,084,135
124,741,781
134,245,384
135,859,103
141,973,697
Billspayable and
rediscounts,
etc.
$53,752
39,977
31,004
22,669
21,933
18,815
15,122
43.495
71,444
149,181
28,356
29,479
22,990
19,633
17,963
28,524
120,313
51,952
21,817
66,399
69,548
59,666
53,509
308,490
73,781
Other
liabilities
•d
o
w
H
o
$474,366
435,596
398,549
390,227
387,386
372,119
262,982
280,372
325,743
423,118
488,037
518,223
641,100
653,326
805,215
887,285
1,009,200
1,133,240
1,367,840
1,840,364
2,231, 342
2,420,229
2,631,377
2,882, 991
4,120,187
Back figures—See reference in heading of table 48, p. 192, in 1953 annual report, to
reports containing figures since 1834. (Comparable figures for years prior to 1936
covered June 30 only.)
NOTE.—Reciprocal interbank demand balances with banks in the United States
are reported net beginning with the year 1942.
a
H
o
o
§o
tr*
tr»
M
W
O
fcd
a
td
£d
3
TABLE NO.289..—OfficialsofStatebankingdepartmentsandnumber
Number
Year ended
Dec. 31—
1934
1935
1936
1937
1938
1939
1940
1941
1942
1943
1944
1945
1946
1947
1948
1949
1950
1951.
1952
1953
1954.
1955...
1956..
1957.
1958___
1959
1960
Total
1
2
3
4
All
banks
57
34
44
58
56
42
22
8
9
4
1
Member banks
National
1
4
1
3
1
4
1
4
2
1
3
2
Insured
Noninsured
8
22
40
47
47
25
18
3
6
2
1
48
8
3
6
7
10
3
1
3
1
1
4
1
3
3
4
3
4
3
3
8
3
2
24
1
3
1
1
52
377
1
2
1
1
1
26
1
8
2
2
1
2
1
2
3
1
233
All
banks
class
of
activebanksinDecember1
25
405
88
685
25
220
82
360
State
671
25
3,600
650
1
24,404
200
75
280
250
25
3,170
35
4,531
9
6
0
—
C
o
All
banks
Member banks
416
633
1,678
2,004
2,052
1,204
1,452
118
272
58
32
3,381
480
195
75
365
285
53
18
55
36,939
10,101
11,323
16,169
13,837
34,980
5,944
3,723
1,702
6,300
405
167
167
125
2,443
42
3,113
135
390
1,950
147
2,443
42
3,113
1,414
44,802
2,880
6,498
11,823
12,869
6,287
2,048
7,987
5,482
243,796
11,221
120
15
20
20
18
110
National
42
5,399
524
3,825
36
1,323
257
3,141
State
1,708
211
24,629
5,059
19,478
4, 606
6,520
10,451
1,368
42,551
1,163
47,189
Insured
Noninsured
Noninsured
75~
100
200
t
Nonmember banks
Insured
37
550
25
65
250
n
Deposits (in thousands of dollars)
Nonmember banks
125
110
4
National
3,822
1,518
1,961
3,435
2,467
5,309
1,587
496
327
708
32
120
52
750
45
140
550
303
210
100
347
1
1
5
Member banks
Includes capital notes and debentures, if any, outstanding at date of suspension.
Included 2 private banks without capital.
Includes 1 private bank for which capital and deposit figures are not available.
Includes 3 private banks for which capital figures are not available.
each
Capital stock (in thousands of dollars) 1
Nonmember banks
State
of
1,912
3,763
10,207
10,156
11,721
6, 589
5,341
503
1,375
1,241
405
1,279
24,934
930
1,892
4,703
2,787*
2,048
6,953
98,739
34,985
939
592
480
1,869
2,439
346
79
327
600
1,255
2,132
1,034
55,317
NOTE.—Figures for banks other than national furnished by Board of Governors
of the Federal Reserve System, and represent associations closed to the public, either
temporarily or permanently, by supervisory authorities or directors of the banks on
account of financial difficulties. In the case of national bank suspensions these represent actual failures for which receivers were appointed.
bO
OO
Cn
i
n
INDEX
Page
Affiliates of national banks, number reporting as of December 31, 1960
31
All banks (see also Banks; Mutual savings banks; National banks; Private
banks; State commercial banks):
Assets and liabilities of:
Comparison of, December 31, 1959 and 1960
29-30
December 31, 1960, by classes of banks in each State
236-276
December 31, 1960, summary by classes of banks
234-235
December 31, 1936-60
282
Distribution of, December 31, 1960
1
Per capita demand and time deposits of individuals, partnerships, and
corporations in, December 31, 1960, by States
277-278
Suspensions. (See Suspensions of banks.)
Assets and liabilities of banks:
All banks:
Comparison of, December 31, 1959 and 1960
29-30
December 31, 1960, by States
236-243
December 31, 1960, summary by classes of banks
234-235
December 31, 1936-60
282
National banks:
Call dates in 1960, summary and by States
23-24, 139-192
December 31, 1960, by States
244-251
December 31, 1936-60
283
Principal items of, according to size of banks (deposits), December 31, 1959 and 1960
133
State banks (see also District of Columbia):
All banks combined:
December 31, 1960, summary and by States
234-235, 252-259
December 31, 1936-60
284
Mutual savings: December 31, 1960, summary and by States
234235, 268-272
Private: December 31, 1960, summary and by States- 234-235, 273-276
State commercial: December 31, 1960, summary and by States— 234235, 260-267
Bank currency. (See Federal Reserve notes; National bank circulation.)
Bank examinations. (See Examinations conducted.)
Banks (see also All banks; Assets and liabilities of banks; Mutual savings
banks; National banks; Private banks; State commercial banks):
All banks:
Distribution of, December 31, 1960
1
Insured and uninsured, December 31, 1960
1
Member banks of Federal Reserve System, December 31, 1960__
1
Number of:
December 31, 1960, by States
236-237
December 31, 1936-60
282
Suspensions. (See Suspensions of banks.)
Insured commercial banks: Number of, December 31, 1960, by classes.
1
287
288
Banks—Continued
INDEX
Page
National banks:
Branches. (See Branches.)
"Calls" for reports of condition of, dates, 1914-60
137
Examination of. (See Examinations conducted.)
Failures. (See Suspensions of banks.)
Number of:
Call dates in 1960
23
Call dates in 1960, by States
139-192
December 31, 1960, by States
244-245
December 31, 1936-60
283
Nonmember banks of Federal Reserve System, December 31,
1960
1
With surplus fund equal to or exceeding common capital
stock 1942-60
136
With surplus fund less than common capital stock 1942-60
136
Number of banking units in relation to population at the end of 1960
12-13
Number of banks which have been absorbed since 1950
16
Number of national and State commercial banking units in operation
in United States and possessions at end of 1960
12-13
State and private banks:
Number of:
December 31, 1960, by States
252-253, 260-261, 268, 273
December 31, 1936-60
284
Supervisors of, name and title of in each State, December 31,
1960
279-281
Suspensions. (See Suspensions of banks.)
Uninsured, December 31, 1960
1
Bank suspensions. (See Suspensions of banks.)
Borrowings. (See Assets and liabilities of banks.)
Branches:
National banks:
Domestic:
Number and class of, closed in year 1960
132
Number authorized and closed in year 1960, by States
11, 124131, 132
Number of branches operated in United States and possessions as of December 31, 1960
11
Foreign:
Location and summary of assets and liabilities of, December
221, 222
31, 1960
Number in operation December 31, 1960
222
Limited banking facilities authorized by several States
12-13
Statements relative to
10-13
"Calls" for reports of condition of national banks, dates, 1914-60
137
Capital accounts. (See Assets and liabilities of banks; Earnings, expenses,
and dividends of national banks: Ratios.)
Capital stock of banks:
All banks:
December 31, 1960, by States
238-239, 242-243
December 31, 1936-60
282
INDEX
2 8 9
Capital stock of banks—Continued
Page
National banks:
By size of banks (deposits), December 31, 1959 and 1960
133
Call dates in 1960, by States
139-192
Charted in each State, in year 1960
113-115
December 31, 1960, by States
246-247, 250-251
December 31, 1936-60
283
Incident to consolidations with State and national banks, in year
1960
116, 118-121
Increase during 1960 and since 1951
6-7, 27-28
Liquidated banks, in year 1960
27-28, 116
Preferred stock:
Retirable value of, on call dates in 1960
24
Total outstanding, December 31, 1960
27-28
State and private banks:
December 31, 1960, by classes of banks and by States
235,
258-259, 266-267, 274
December 31, 1936-60
284
Cash in banks. (See Assets and liabilities of banks.)
Charters of national banks. (See Organization of national banks.)
Circulation. (See Federal Reserve notes; National bank circulation.)
Closed banks. (See Consolidations and mergers of banks; Liquidation of
national banks; Suspensions of banks.)
Commercial banks. (See National banks; Private banks, State commercial banks.)
Comptroller of the Currency, Office of:
Comptrollers, names of, since organization of the Bureau and periods
of service
111
Deputy Comptrollers, names of, since organization of the Bureau and
periods of service
111
Examinations conducted
18-19
Expenses of, in year 1960
22
Issue and redemption of notes
32
Organization and staff
19-21
Personnel
19-21
Condition of banks. (See Assets and liabilities of banks.)
Consolidations and mergers of banks (see also Legislation enacted):
Number and total resources, National and State-wise, 1950-60
16
Under act November 7, 1918, as amended:
Consolidations under sections 1, 2, and 3:
List of, in year 1960
118-121
Number of in each State
112-113
Mergers under sections 4 and 5:
List of, in year 1960
122-124
Number of in each State
112-113
Statements relative to
14-16, 27-28
Under Public Law 706, August 17, 1950:
List of, in year 1960
116
Number of in each State
112-113
Statements relative to
14-16, 27-28
2 9 0
INDEX
Paff®
Conversions of banks:
Number and total resources, National and State-wise, 1950-60
16
Under Public Law 706, August 17, 1950:
List of, in year 1960
117
Number of in each State
112-113
Statements relative to
14-16,27-28
Demand deposits. (See Deposits.)
Deposits (see also Assets and liabilities of banks):
All active banks, December 31, 1936-60
282
Demand and time in all active banks, by classes in each State, December 31, 1960
242-243, 250-251, 266-267, 272, 276
Interest rate paid on time and savings, by national banks, years 195660
3
Per capita demand and time of individuals, partnerships, and corporations in all active banks, December 31, 1960, by States
277-278
Postal savings:
In all banks, December 31, 1960, by States
242-243
In each class of banks, December 31, 1960, by States. _ 250-251, 266-267
In national banks, call dates in 1960, by States
139-192
Savings in national banks: Number of accounts and amount of de134-135
posits June 15, 1960, by States
Size of national banks, according to, December 31, 1959 and 1960
133
Suspended banks. (See Suspensions of banks.)
United States Government:
In all banks, December 31, 1960, by States
242-243
In each class of banks, December 31,1960, by States
250251, 266-267, 272, 276
In national banks, call dates in 1960, by States
139-192
District of Columbia:
Assets and liabilities of all banks in, by classes:
Call dates in 1960
149, 225, 226
December 31, 1960
223-224
Earnings, expenses, and dividends of banks in:
Losses charged off on loans and securities:
Years 1941-60
230-231, 232-233
Years 1959 and 1960, by classes of banks
227-228
Ratios:
Years 1941-60
230-231, 232-233
Years 1959 and 1960, by classes of banks
228
Years 1959 and 1960, by classes of banks
227-228
Fiduciary activities of banks in, December 31, 1960
233
Reports required from banking associations in, year 1960
31
Dividends. (See Earnings, expenses, and dividends of national banks.)
Earnings, expenses, and dividends of national banks:
According to size of banks (deposits), year 1960
214-216
By Federal Reserve districts, year 1960
210-213
By States, year 1960
202-209
Losses charged off on loans and securities:
Years 1941-60
220
Year 1960, according to size of banks (deposits)
211-212
INDEX
291
Earnings, expenses, and dividends of national banks—Continued
Page
Ratios:
Dividends to capital stock and capital funds, years 1930-60
219
Net profits before dividends to capital stock and capital funds,
years 1930-60
219
Net earnings from current operations and net profits before
dividends per $100 of deposits, year 1960
216
Net earnings from current operations, net profits before dividends,
and cash dividends per $100 of capital funds, year 1960
216
Salaries and wages of officers and employees:
By size of banks (deposits), year 1960
214
Years 1958-60
217
Summary, years 1958-60
217-218
Trend in, since 1956
9
Employees. (See Comptroller of the Currency, Office of; Officers and
employees of national banks.)
Examinations conducted: Number in year 1960
18-19
Examiners and assistant examiners: Changes in number, in year 1960
19
Expenses. (See Comptroller of the Currency, Office of; Earnings, expenses, and dividends of national banks.)
Failures of banks. (See Supensions of banks.)
Federal Deposit Insurance Corporation (see also Suspensions of banks):
Classification of insured and uninsured banks, December 31, 1960
1
Federal Reserve notes: Issue and redemption of, in year 1960
32
Fiduciary activities of national banks:
By Federal Reserve districts, December 31, 1960
195
Classification of investments under administration segregated according to capital of banks, December 31, 1960
196
Comparativefiguresof activities, 1951-60
—
199
196-199
December 31, 1960, by States
December 31, 1960, segregated according to capital groups
193-194
National banks administering employee benefit trusts and agencies
during 1960, by Federal Reserve districts and by States
200-201
Statement relative to
16-17
Foreign branches of national banks, location, and summary of assets and
liabilities of, December 31, 1960
221, 222
Government bonds. (See Investments; United States Government
securities.)
Holding company affiliates of national banks: Number of, December 31,
1960
31
Insolvent banks. (See Suspensions of banks.)
Insured banks. (See Suspensions of banks; Federal Deposit Insurance
Corporation.)
Interbank deposits. (See Assets and liabilities of banks.)
Interest. (See Earnings, expenses, and dividends of national banks.)
Investments of banks:
All banks:
December 31, 1960, by States
236-237
December 31, 1960, by classes of banks
234
282
December 31, 193&-60
292
INDEX
Page
Investments of banks—Continued
National banks:
By size of banks (deposits), December 31, 1959 and 1960
Call dates in 1960, summary and by States
December 31, 1960, by States
December 31, 1936-60
Losses charged off on:
According to size of banks (deposits), year 1960
Year 1960, by States and Federal Reserve districts
133
23, 139-192
244-245
283
215-216
206-207,
211-212
Years 1941-60
220
Summary classification by maturities in 1960
6
State and private banks: December 31, 1960, by classes of banks and
by States
234, 252-253, 260-261, 268, 273
Legislation enacted:
Public Law 86-463:
Approved May 13, 1960, containing factors to be considered by
supervising agencies with respect to all bank mergers, consolidations, and purchase and sale transactions
33
Extracts from debates during consideration of
33-52
Description of each consolidation, merger, and purchase and sale
transaction, approved by the Comptroller of the Currency since
enactment
52-106
Liabilities. (See Assets and liabilities of banks.)
Liquidation of national banks (see also Legislation enacted):
Capital, date, and title of banks, in year 1960, with names of succeeding
banks in cases of succession
116
Number of banks, in each State, since beginning of system
112-113
Summary, in year 1960
27-28
Loans and discounts of banks:
All banks:
December 31, 1960, classification of, by States
240-241
December 31, 1960, classification of, by classes of banks
234
December 31, 1936-60
282
National banks:
By size of banks (deposits), December 31, 1959 and 1960
133
Call dates in 1960, summary and by States
23, 139-192
December 31, 1960, classification of, by States
248-249
December 31, 1936-60,
283
Interest and discount earned on:
According to size of banks (deposits), year 1960
214
Year 1960, by States and Federal Reserve districts
202203, 210
Years 1958-60
217
Losses charged off on:
According to size of banks (deposits), year 1960
215-216
Year 1960, by States and Federal Reserve districts
206-207,
211-212
Years 1941-60
220
Real estate loans of:
December 31, 1960, by States
248-249
Statement relative to
3
Reserve for bad debt losses on
10
INDEX
293
Page
Loans and discounts of banks—Continued
State and private banks: December 31, 1960, classification of, by
States
256-257, 264r-265, 270, 275
Losses. (See Earnings, expenses, and dividends of national banks.)
Mergers. (See Consolidations and mergers of banks.)
Municipal bonds. (See Investments of banks.)
Mutual savings banks:
268-272
Assets and liabilities of: December 31, 1960, by States
Insured, December 31, 1960
1, 279-281
Uninsured, December 31, 1960
1, 279-281
National bank circulation: Outstanding, December 31, 1960
28-29
National bank examiners. (See Examiners and assistant examiners.)
National banks:
Affiliates of, number, December 31, 1960
31
Assets and liabilities of:
Call dates in 1960, by States
139-192
December 31, 1960, by States
244-251
Principal items of, according to size of banks (deposits), December 31, 1959 and 1960
133
Principal items of, December 31, 1936-60
283
Branches. (See Branches.)
By size of banks, on basis of deposits, December 31, 1959 and 1960__
133
"Calls" for reports of condition of, dates, 1914-60
137
Capital stock. (See Capital stock of banks.)
Charters granted in year 1960
113-115
Consolidations. (See Consolidations and mergers of banks.)
Conversions to State banks, in year 1960, list of
117
Deposits. (See Deposits.)
Dividends. (See Earnings, expenses, and dividends of national
banks.)
Earnings and expenses. (See Earnings, expenses, and dividends of
national banks.)
Failures of. (See Suspensions of banks.)
Fiduciary activities. (See Fiduciary activities of national banks;
District of Columbia.)
Holding company affiliates of, number, December 31, 1960
31
Insolvent. (See Suspensions of banks.)
Investments. (See Investments of banks.)
Liquidation of, in year 1960
27-28, 116
Loans and discounts. (See Loans and discounts of banks.)
Number of:
Call dates in year 1960, by States
139-192
Chartered and closed: Since February 25, 1863
112-113
December 31, 1936-60
283
In existence December 31, 1960, by States
112-113
With surplus fund equal to or exceeding common capital stock
1942-60
136
With surplus fund less than common capital stock 1942-60
136
Officers and employees, number and salaries of:
By size of banks (deposits), year 1960
214, 216
Year 1960, by States and Federal Reserve districts
204^-205, 210
Years 1958-60
217
Purchases by other national banks, 1960
14
294
INDEX
Page
National banks—-Continued
Purchases by State banks, 1960
14
Reports required from in year 1960
31
State banks purchased by, in year 1960, list of
117
Status of
1-10
Trust functions. (See Fiduciary activities of national banks.)
United States Government securities owned by. (See United States
Government securities.)
Officers and employees of national banks:
Number and salaries of:
By size of banks (deposits), year 1960
214r-216
Year 1980, by States and Federal Reserve districts
204r-205, 210
Years 1958^60
217
Organization of national banks:
Charters granted, in year 1960, list of, by States
113-115
Charters granted which were conversions of State banks, in year I960. 15, 115
Charters granted which were conversions of State banks, 1950-60
16
Number of, by States, from February 25, 1863, to December 31,
1960
112-113
Summary, in year 1960
13-14, 27-28
Per capita demand and time deposits of individuals, partnerships, and
corporations, in all active banks: December 31, 1960, by States
277-278
Personnel. (See Comptroller of the Currency, Office of.)
Population, United States, December 31, 1960, by States
236-237
Possessions:
Assets and liabilities of banks in:
All banks, December 31, 1960
236-243
Banks other than national, December 31, 1960
252-259
188
National banks, call dates in 1960
National banks, December 31, 1960
244^-251
Earnings, expenses, and dividends of national banks in, year 1960_ 202-209
Per capita demand and time deposits of individuals, partnerships,
and corporations, of all banks in, December 31, 1960
278
Postal savings. (See Deposits.)
Private banks:
Assets and liabilities of: December 31, 1960, by States
273-276
Suspensions. (See Suspensions of banks.)
Profits. (See Assets and liabilities of banks; Earnings, expenses, and
dividends of national banks.)
Public funds. (See Assets and liabilities of banks.)
Real estate held by banks. (See Assets and liabilities of banks.)
Real estate loans. (See Loans and discounts of banks.)
Reports from national banks in year 1960
31
Reserves for bad debt losses on loans: Maintained by national banks December 31, 1960
10
Reserve with Federal Reserve banks. (See Assets and liabilities of banks.)
Salaries and wages of officers and employees of national banks. (See
Earnings, expenses, and dividends of national banks.)
Savings accounts in national banks: Number, June 15, 1960, by States. 134-135
Savings banks. (See Mutual savings banks.)
Securities. (See Investments of banks; United States Government securities.)
State bank suspensions. (See Suspensions of banks.)
295
INDEX
Page
State banking officials: Name and title of, in each State, December 31,
1960
279—281
State banks purchased by national banks (see also Legislation enacted):
List of, during year 1960
117
State commercial banks:
Assets and liabilities of, December 31, 1960, by States
260-267
Insured, December 31, 1960
1, 279-281
Member banks of Federal Reserve System, December 31, 1960__ 1, 279-281
Nonmember banks of the Federal Reserve System, December 31,
1960
1,279-281
Suspensions. (See Suspensions of banks.)
Uninsured, December 31, 1960
1, 279-281
Stock savings banks. (See State commercial banks.)
Supervisors of State of banks, name and title of, in each State, December
31, 1960
279-281
Suspensions of banks:
All banks:
Number, capital, and deposits of suspended banks: Since inauguration of Federal deposit insurance, years 1934-60
285
National banks:
Number, capital, and deposits of: Since inauguration of Federal
deposit insurance, years 1934-60
285
Number of, by States, since beginning of system
112-113
State banks:
Number, capital, and deposits of: Since inauguration of Federal
deposit insurance, years 1934-60
285
Taxes. (See Earnings, expenses, and dividends of national banks.)
Time deposits. (See Deposits.)
Titles of national banks. (See Consolidations and mergers of banks;
Organization of national banks.)
Trends in banking
25
Trust companies. (See State commercial banks.)
Trust powers of national banks. (See Fiduciary activities of national
banks.)
United States Government deposits. (See Deposits.)
United States Government securities:
All banks:
December 31, 1960, by States
236-237
December 31, 1960, by classes of banks
234
December 31, 1936-60
282
National banks:
By size of banks (deposits), December 31, 1959 and 1960
133
Call dates in 1960, by States
139-192
December 31, 1960, by States
244-245
December 31, 1936-60
283
State and private banks:
December 31, 1960, by States
252-253, 260-261, 268, 273
December 31, 1936-60
284
Voluntary liquidation of national banks. (See Liquidation of national
banks.)
U.S. GOVERNMENT PRINTING OFFICE: 1961
@FedFRASER