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ANNUAL REPORT
OF THE
FEDERAL DEPOSIT INSURANCE CORPORATION
FOR THE YEAR ENDING
DECEMBER 31, 1935
LETTER OF TRANSM ITTAL
F e d e r a l D e p o s it In su r a n c e C o r p o r a tio n ,
Washington, D. C., September 1, 1936.
SIR: Pursuant to the provisions of subsection (r) of section
12B of the Federal Reserve Act, as amended, the Federal Deposit
Insurance Corporation has the honor to submit its annual report.
Respectfully,
L e o T . C r o w le y ,
T h e P r e s id e n t
T h e Sp e a k e r
of th e
of th e
H
Se n ate
o u se of
R e p r e s e n t a t iv e s
Chairman.
CONTENTS
Page
Introduction.............................................................................................................................
3
PART ONE
OPERATIONS OF THE CORPORATION DURING THE YEAR ENDING
DECEMBER 31, 1935
Inauguration of permanent plan of insurance of bank deposits..........................
Organization and staff..........................................................................................................
Financial aspects of the Corporation.............................................................................
Payments.to depositors in suspended insured banks...............................................
Liquidation of insured banks in receivership..............................................................
Loans on assets of insured banks.....................................................................................
Admissions to and terminations of insurance..............................................................
Applications for capital changes and for release of restricted deposits..............
Bank examinations................................................................................................................
Regulations and rulings of the Corporation................................................................
State legislation affecting deposit insurance................................................................
Problems and policies of the Corporation.....................................................................
7
8
9
11
16
17
18
22
23
24
27
28
PART TWO
DEPOSIT INSURANCE AND BANKING DEVELOPMENTS
Summary of banking developments...............................................................................
Changes in number of commercial banking offices...................................................
Changes in assets and liabilities of insured commercial banks.............................
Appraisal of assets of insured commercial banks not members of the Federal
Reserve System..................................................................................................................
Capital of insured commercial banks.............................................................................
Earnings of insured commercial banks..........................................................................
Mutual savings banks..........................................................................................................
35
35
37
40
41
44
48
PART THREE
RESEARCH REPORTS
Membership of the temporary Federal deposit insurance funds.........................
55
PART FOUR
LEGISLATION, REGULATIONS, AND INSTRUCTIONS
Deposit insurance legislation.............................................................................................
Regulations of the Federal Deposit Insurance Corporation.................................
Miscellaneous rules, resolutions, and interpretations...............................................
Regulations and rulings of the Board of Governors of the Federal Reserve
System ....................................................................................................................................
Forms and instructions........................................................................................................
67
87
102
104
104
PART FIVE
STATISTICS OF BANKS AND DEPOSIT INSURANCE
Explanatory n ote....................................................................................................................
Number of banks and branches........................................................................................
Deposits in banks...................................................................................................................
Assets and liabilities of operating banks................................ ......................................
Examiners' analyses of insured banks............................................................................
Capital investment of the Reconstruction Finance Corporation.........................
Earnings of insured commercial banks..........................................................................
Bank suspensions and receiverships................................................................................
Federal Deposit Insurance Corporation.......................................................................
v
121
122
150
170
182
196
198
224
230
LIST OF TABLES
VI
L IS T
OF TABLES
PART ONE
OPERATIONS OF THE CORPORATION DURING THE YEAR ENDING
DECEMBER, 31, 1935
Page
O r g a n iz a t io n
1.
and
St a f f :
Officers and employees of the Federal Deposit Insurance Corpora
tion, December 31, 1935.............................................................................
F in a n c ia l
2.
A spects
of
the
Comparative balance sheet of the Federal Deposit Insurance Cor
poration, December 31, 1935, and December 31, 1934..................
Analysis of surplus account and distribution of administrative ex
penses, Federal Deposit Insurance Corporation, calendar year
1935....................................................................................................................
3.
Paym ents
4.
D e p o s it o r s
to
in
Suspended
Insured
5.
to
and
T e r m in a t io n s
of
13
14
Insurance:
Banks not members of the Federal Reserve System approved and
rejected for insurance August 23— December 31, 1935..................
Classification of banks admitted to insurance and banks termi
nating insurance during 1935, by class of bank................................
6.
12
Banks:
Deposits in the 24 insured banks placed in receivership during 1935
A d m is s io n s
9
C o r p o r a t io n :
19
21
PART TWO
DEPOSIT INSURANCE AND BANKING DEVELOPMENTS
C hanges
N um ber
in
7.
of
C o m m e r c ia l
B a n k in g
O f f ic e s :
Number of operating commercial banks and branches in the United
States and possessions at close of 1934 and 1935.............................
Changes in number of operating commercial banks and branches in
the United States and possessions during 1935..................... ...........
8.
C hanges
A ssets
in
9.
and
L ia b il it ie s
of
Insured
C o m m e r c ia l
10.
C a p it a l
11.
12.
13.
E a r n in g s
14.
15.
16.
17.
18.
N ot M e m b e r s
I nsured
C o m m e r c ia l
I nsured
C o m m e r c ia l
41
42
43
Banks:
Earnings, expenses, and disposition of profits, insured commercial
banks, 1935......................................................................................................
Earnings, expenses, and disposition of profits, insured commercial
banks, 1934 and 1935, by class of bank...............................................
Net earnings per $100 of total assets, insured commercial State
banks, 1934 and 1935, banks operating throughout the entire year
grouped by amount of deposits...............................................................
Rates of interest received on loans and on securities and paid on
time deposits by insured commercial banks not members of the
Federal Reserve System, 1934 and 1935.............................................
Earnings, expenses, and disposition of profits, ratios, insured com
mercial State banks, 1935, banks reporting net earnings com
pared with banks reporting net losses...................................................
41
Banks:
Changes in total capital account of insured commercial banks
during 1935......................................................................................................
Number of insured commercial banks not members of the Federal
Reserve System grouped according to ratio of net sound capital to
deposits, latest examination in 1935......................................................
Insured commercial banks not members of the Federal Reserve
System grouped according to ratio of net sound capital to de
posits, examinations in 1933, 1934 and 19 35......................................
of
37
of
Worthless and doubtful assets of insured banks not members of the
Federal Reserve System at time of examination in 1935..............
of
36
B anks:
Changes during 1935 in assets and liabilities of insured commercial
banks..................................................................................................................
A p p r a is a l o f A s s e t s o f I n s u r e d C o m m e r c ia l B a n k s
th e F ederal R eser ve Sy st e m :
35
44
45
46
47
48
vii
LIST OF TABLES
Page
M utual
19.
20.
21.
Sa v in g s
Banks:
Changes during 1935 in the number and deposits of mutual savings
banks insured by the Federal Deposit Insurance Corporation. . . .
Assets and liabilities of 56 mutual savings banks insured by the
Federal Deposit Insurance Corporation at the close of 1935 . . .
Earnings and expenses of mutual savings banks insured by the
Federal Deposit Insurance Corporation at the close of 1935 . . .
49
50
50
PART THREE
RESEARCH REPORTS
M e m b e r s h ip
22.
23.
24.
25.
26.
of
the
T emporary
F ederal
D e p o s it
Insurance
F unds:
Classification of banks admitted to insurance from January 2,1 934 ,
to the close of the temporary funds.......................................................
Classification of banks terminating insurance during or at the close
of the temporary funds...............................................................................
Operating banks insured at the beginning of the temporary Federal
deposit insurance plan and at the beginning of the permanent
plan.....................................................................................................................
Number of operating banks insured at the beginning of the tempo
rary Federal deposit insurance plan and at the beginning of the
permanent plan, by States and possessions........................................
Depositors’ claims against 24 insured banks which suspended during
the period of operation of the temporary Federal deposit insur
ance funds........................................................................................................
59
61
61
62
63
PART FIVE
STATISTICS OF BANKS AND DEPOSIT INSURANCE
N um ber
101.
102.
103.
104.
105.
106.
107.
108.
109.
110.
of
Banks
and
B ranches:
Number of operating banks and branches, December 31, 1935, in
sured and noninsured banks grouped by class of bank in each
State and possession.....................................................................................
Number of operating banks, December 31, 1935, insured and non
insured banks grouped by class of bank, by amount of deposits,
and by States and possessions..................................................................
Number of operating unit banks, December 31, 1935, insured and
noninsured banks grouped by class of bank, by amount of de
posits, and by States and possessions...................................................
Number of banks operating branches, December 31, 1935, insured
and noninsured banks grouped by class of bank, by amount of
deposits, and by States and possessions...............................................
Number of operating branches of banks, December 31, 1935,
insured and noninsured branches grouped by class of bank in
each State and possession..........................................................................
Number of operating commercial banks, December 31, 1935, in
sured and noninsured banks grouped by amount of deposits in
each State and possession..........................................................................
Number of operating commercial banks, December 31, 1935, unit
banks and banks operating branches grouped by amount of
deposits in each State and possession...................................................
Number of operating mutual savings banks, December 31, 1935,
insured and noninsured banks grouped by amount of deposits in
each State........................................................................................................
Number of operating mutual savings banks, December 31, 1935,
unit banks and banks operating branches grouped by amount of
deposits in each State..................................................................................
Analysis of changes in number of banks and branches in the contin
ental United States during 1935, insured and noninsured banks
grouped by class of bank............................................................................
122
124
126
128
130
132
136
140
142
144
viii
LIST OF TABLES
Page
111.
112.
113.
D e p o s it s
114.
115.
116.
117.
118.
119.
120.
121.
Commercial banks beginning operations in the continental United
States during 1935, grouped by amount of total capital account,
by class of bank, by population of center, and by number of other
banks and branches in center...................................................................
Commercial banks ceasing operations in the continental United
States during 1935, grouped by amount of total capital account,
by class of bank, by population of center, and by number of other
banks and branches in center...................................................................
Operating banks which withdrew from insurance during 1935. . . .
in
122.
123.
124.
125.
126.
127.
L ia b il it ie s
129.
of
O p e r a t in g
of
Insured
152
154
156
160
164
166
168
170
171
172
176
178
180
B anks:
Examiners’ analysis of capital, assets, and liabilities of operating
insured commercial banks not members of the Federal Reserve
System, latest examination in 1935, banks grouped by amount
of deposits and by States...........................................................................
Examiners’ analysis of assets of operating insured commercial
banks not members of the Federal Reserve System, latest ex
amination in 1935, banks grouped by amount of deposits and by
States.................................................................................................................
150
B anks:
Summary of assets and liabilities of operating commercial banks in
the United States and possessions, December 31, 1934, June 29,
1935, and December 31, 1935..................................................................
Summary of assets and liabilities of operating mutual savings banks
in the United States, December 31, 1934, June 29, 1935, and
December 31, 1935.......................................................................................
Assets and liabilities of operating insured commercial banks, call
dates, June 30, 1934, to December 31, 1935......................................
Assets and liabilities of operating insured commercial banks not
members of the Federal Reserve System, December 31, 1935,
banks grouped by amount of deposits..................................................
Averages per bank of assets and liabilities, operating insured com
mercial banks not members of the Federal Reserve System,
December 31, 1935, banks grouped by amount of deposits...........
Percentage distribution of assets and liabilities, operating insured
commercial banks not members of the Federal Reserve System,
December 31, 1935, banks grouped by amount of deposits...........
E x a m in e r s ’ A n a l y s e s
128.
148
149
B anks:
Deposits in operating banks, daily average October 1 to December
31,1935, insured and noninsured banks grouped by class of bank,
by amount of deposits, and by States and possessions..................
Deposits in operating unit banks, daily average October 1 to Dec
ember 31,1935, insured and noninsured banks grouped by class of
bank, by amount of deposits, and by States and possessions. . . .
Deposits in banks operating branches, daily average October 1 to
December 31, 1935, insured and noninsured banks grouped by
class of bank, by amount of deposits, and by States and pos
sessions..............................................................................................................
Deposits in operating commercial banks, daily average October 1
to December 31, 1935, insured and noninsured banks grouped
by amount of deposits in each State and possession.......................
Deposits in operating commercial banks, daily average October 1
to December 31, 1935, unit banks and banks operating branches
grouped by amount of deposits in each State and possession.......
Deposits in operating mutual savings banks, December 31, 1935,
insured and noninsured banks grouped by amount of deposits
in each State...................................................................................................
Deposits in operating mutual savings banks, December 31, 1935,
unit banks and banks operating branches grouped by amount of
deposits in each State.......................................................................... .. . .
Analysis of changes in deposits of banks in the continental United
States during 1935, insured and noninsured banks grouped by
class of bank...................................................................................................
A ssets a n d
147
182
184
LIST OF TABLES
ix
Page
130.
131.
132.
Examiners’ analysis of assets of operating insured commercial banks
not members of the Federal Reserve System, latest examination
in 1935, banks grouped by amount of deposits and by States . .
Summary of examiners' analysis of assets of operating insured com
mercial banks not members of the Federal Reserve System,
examinations October 1, 1933, to December 31, 1935, banks
grouped by amount of deposits and by States..................................
Capital ratios of operating insured commercial banks not members
of the Federal Reserve System, examinations October 1, 1933,
to December 31, 1935, banks grouped by amount of deposits
and by States..................................................................................................
188
192
194
C a p it a l I n v e s t m e n t o f t h e R e c o n s t r u c t io n F in a n c e C o r p o r a t io n :
133.
134.
E a r n in g s
135.
136.
137.
138.
139.
140.
141.
142.
143.
144.
145.
146.
Capital investment of the Reconstruction Finance Corporation in
operating insured commercial banks, December 31, 1935, by
class of bank in each State........................................................................
Reconstruction Finance Corporation capital disbursements and
retirements during 1935, insured commercial banks not members
of the Federal Reserve System, by States...........................................
of
Insured
C o m m e r c ia l
197
B anks:
Earnings, expenses, and disposition of profits of operating insured
commercial banks, calendar years 1934 and 1935, by class of bank
Earnings, expenses, and disposition of profits of insured commercial
State banks, calendar year 1935, banks operating throughout
entire year grouped by amount of deposits........................................
Earnings, expenses, and disposition of profits, ratios, insured com
mercial State banks, calendar year 1935, banks operating
throughout the entire year grouped by amount of deposits.. . .
Earnings, expenses, and disposition of profits of insured commercial
State banks reporting net earnings from current operations,
calendar year 1935, banks operating throughout entire year
grouped by amount of deposits...............................................................
Earnings, expenses, and disposition of profits of insured commercial
State banks reporting net losses from current operations, cal
endar year 1935, banks operating throughout entire year grouped
by amount of deposits.................................................................................
Averages per bank of earnings, expenses, and disposition of profits
of insured commercial State banks reporting net earnings from
current operations, calendar year 1935, banks operating through
out entire year grouped by amount of deposits................................
Averages per bank of earnings, expenses, and disposition of profits
of insured commercial State banks reporting net losses from
current operations, calendar year 1935, banks operating through
out entire year grouped by amount of deposits................................
Earnings, expenses, and disposition of profits, ratios, insured com
mercial State banks reporting net earnings from current opera
tions, calendar year 1935, banks operating throughout entire
year grouped by amount of deposits.....................................................
Earnings, expenses, and disposition of profits, ratios, insured com
mercial State banks reporting net losses from current operations,
calendar year 1935, banks operating throughout entire year
grouped by amount of deposits...............................................................
Earnings, expenses, and disposition of profits of operating insured
commercial banks not members of the Federal Reserve System,
calendar year 1935, banks operating thoughout entire year
grouped by amount of deposits...............................................................
Averages per bank of earnings, expenses, and disposition of profits
of operating insured commercial banks not members of the
Federal Reserve System, calendar year 1935, banks operating
throughout entire year grouped by amount of deposits................
Earnings, expenses, and disposition of profits, ratios, insured com
mercial banks not members of the Federal Reserve System,
calendar year 1935, banks operating throughout entire year
grouped by amount of deposits...............................................................
196
198
200
202
204
206
208
210
212
214
216
218
220
X
LIST OF TABLES
Page
147.
Bank
Salaries and wages of officers and employees, insured commercial
State banks, calendar year 1935, grouped by class of bank, by
amount of deposits, and by States.........................................................
S u s p e n s io n s
148.
149.
150.
151.
152.
153.
F ederal
154.
and
Number and deposits of banks suspending operations during 1935,
grouped by class of bank, by amount of deposits, and by States. .
Insured banks placed in receivership, 1934-— 1935...............................
Assets of insured banks placed in receivership, 1934— 1935, as
shown by books of banks at date of suspension...............................
Liabilities of insured banks placed in receivership, 1934— 1935, as
shown by books of banks at date of suspension...............................
Deposits of insured banks placed in receivership, 1934— 1935, re
vised to December 31, 19 35......................................................................
Payments to depositors of insured banks placed in receivership,
1934— 1935.......................................................................................................
D e p o s it
222
R e c e iv e r s h ip s :
Insurance
224
225
226
227
228
229
C o r p o r a t io n :
Assets, liabilities, and capital of the Federal Deposit Insurance Cor
poration, August 22, 19 35.................*.......................................................
230
CHART
Percentage increase in deposits of insured commercial banks, December 31,
1934 to December 31, 1935............................................................................................
39
INTRODUCTION
INTRODUCTION
The Federal Deposit Insurance Corporation was created by the
Banking Act of 1933. Its Board of Directors was organized on Sep
tember 11 of that year, and the insurance of bank deposits under the
temporary plan became effective January 1, 1934. A brief report
dealing with the organization of the Corporation was submitted in
March 1934, and the first regular annual report, covering the activities
of the Corporation to the end of 1934, was submitted in August 1935.
The present report describes the termination of the temporary plan and
the inauguration of the permanent plan of Federal deposit insurance,
the activities of the Corporation during 1935, and banking developments
affecting deposit insurance during that year.
Part One is devoted to a discussion of the operations of the Corporation,
including the transition from the temporary to the permanent plan of
deposit insurance, the Corporation’s revenue and expenses, suspensions of
insured banks and deposits paid by the Corporation, admissions to and
terminations of insurance, bank examinations, and regulations issued by
the Corporation. Part Two covers developments in banking during 1935,
primarily among insured banks not members of the Federal Reserve
System. Part Three summarizes the changes in the number of insured
banks during the period of operation of the temporary plan of insurance.
Part Four gives in full the text of the amended deposit insurance law, the
text of regulations issued by the Corporation, and the forms used and the
instructions for the reporting of deposits by insured banks. Part Five
consists of statistical tables relating to banking and deposit insurance.
PART ONE
OPERATIONS OF THE CORPORATION DURING
THE YEAR ENDING DECEMBER 31, 1935
INAUGURATION OF PERMANENT PLAN OF INSURANCE OF
BANK DEPOSITS
On August 23, 1935, the Banking Act of 1935 became effective,
terminating the temporary Federal deposit insurance plan and inau
gurating the permanent plan. The Act revised the entire deposit
insurance law and made substantial changes in the character of the
permanent plan of deposit insurance originally enacted June 16, 1933.
Duration o f tem porary plan. The temporary plan for Federal
insurance of deposits, originally intended to be effective only during
the six months from January 1 to July 1, 1934, was in operation nearly
20 months. Its life was twice extended by Congress: first, until July 1,
1935, and then for an additional two months. The second extension
was approved June 28, 1935, while the Banking Act of 1935 was under
consideration, and was designed merely to continue the temporary plan
until that Act could be approved.1
Admissions to insurance under the perm anent plan. Under
the original law all banks members of the Federal Reserve System were
required to participate in the permanent insurance plan, and banks not
members of the Federal Reserve System which were insured under the
temporary plan were permitted to participate until July 1, 1936. In
the revised law provision was made for the automatic admission to
insurance under the permanent plan of all banks, with minor exceptions,
which had been insured under the temporary plan. Provision was made
that State banks not members of the Federal Reserve System might
withdraw within 30 days after the effective date of the Act. Thirtyfour banks withdrew under this provision,2and one bank not a member
of the Federal Reserve System which had been considered to be insured
under the temporary plan did not become insured under the permanent
plan because of failure to make the required statement of deposits and
to pay assessments. The number of banks which had been insured
under the temporary plan and which were automatically admitted to
insurance under the permanent plan was 14,219. Of these, 14,163
were commercial banks insured in the Temporary Federal Deposit
Insurance Fund and 56 were mutual savings banks insured in the Fund
for Mutuals.
Insurance coverage. Under the original law it was contemplated
that the deposits in banks participating in the permanent insurance
plan would be protected up to the following percentages of the net
amount due each depositor in a closed bank:
100 percent of the net amount not exceeding $10,000;
75 percent of the net amount exceeding $10,000 but not exceeding $50,000;
50 percent of the net amount exceeding $50,000.
The revised permanent plan, like the temporary plan after July 1, 1934,
limits protection to a maximum of $5,000 for each depositor.
1F or text o f resolution see page 67.
2One o f these banks had previou sly repaid all o f its deposit liabilities through v o lu n ta ry liqu idation.
7
8
FEDERAL DEPOSIT INSURANCE CORPORATION
Assessment rate. The revised permanent plan of insurance differs
both from the temporary plan and from the original permanent plan in
the basis and amount of assessment. Banks insured under the revised
permanent plan are assessed each year one-twelfth of 1 percent of their
total deposit liabilities. Special provision was made for an initial pay
ment covering the assessment obligation from the inauguration of the
permanent plan to the end of 1935. Under the original permanent plan
participating banks were to subscribe for stock in the Corporation equal
in amount to one-half of 1 percent of their total deposits, and were
subject to assessments of one-fourth of 1 percent of their deposits when
ever the net debit balance of the deposit insurance account of the
Corporation should equal or exceed one-fourth of 1 percent of deposits
of all insured banks.
Assessment credits. The revised law provided that any balance
to which an insured bank was entitled upon termination of the temporary
Federal deposit insurance funds should be credited toward the assess
ments to be levied under the permanent plan of insurance. Such
balances consisted of the unused portion of assessments collected under
the temporary plan. The income of the temporary funds was sufficient to
pay all operating expenses and deposit insurance losses and expenses, and
insured banks received a credit for the full amount of the assessments
which they had paid.
Supervision of insured banks. The revised permanent plan also
requires insured banks not members of the Federal Reserve System to
obtain the approval of the Corporation before opening new branches
or reducing their capital, and requires all insured banks to obtain such
approval before merging or consolidating with noninsured institutions.
The Corporation may require any insured bank to provide protection and
indemnity against burglary, defalcation, and other similar insurable losses.
If an insured bank is found by the Corporation to have continued unsafe
or unsound practices, such practices are to be reported to the appropriate
supervisory authorities, and if they are not corrected the insured status of
the bank may be terminated.
ORGANIZATION AND STAFF
Directors. On April 29, 1935, Mr. Phillips Lee Goldsborough took
office as a director of the Corporation, succeeding Mr. E. G. Bennett,
whose resignation became effective on that date. Mr. Leo T. Crowley
continued to serve as a director and as Chairman of the Board of Directors,
and Mr. J. F. T. O’Connor, Comptroller of the Currency, likewise con
tinued as a member of the Board of Directors.
Changes in divisions and offices. Few changes were made in the
internal organization of the Corporation during 1935. On January 15,
9
ORGANIZATION AND STAFF
1935, the number of district offices of the Corporation was reduced from
15 to 12. This change permitted a substantial reduction in overhead
expenses.
Personnel. Personnel at the close of 1935 consisted of 738 officers
and employees, of whom 237 were located in the main office at Wash
ington and 501 in the field and at the regional offices. A net reduction
of 110 employees occurred during the year. The employees located in
the field and at the regional offices were all connected with the Division
of Examination of the Corporation. The personnel of the various
divisions and offices of the Corporation at the end of 1935 is given in
Table 1.
Table 1.
OFFICERS AND EMPLOYEES OF THE FEDERAL DEPOSIT INSURANCE
C o r p o r a t io n , D e c e m b e r
31, 1935
Total
W a s h in g t o n o f f i c e ...............................................................
Directors and a id es............................................................
Division o f E xam ination.................................................
New and Closed Bank Division1 ................................
Division of Research and Statistics...........................
Legal D iv isio n ......................................................................
Division of Public R elation s.........................................
Office o f the Secretary......................................................
Auditor (administrative and service division) . . .
Officers;
Clerical,
administrative, stenographic,
supervisory,
and
and
custodial
technical
employees
employees
738
441
297
237
75
162
12
33
25
35
17
7
11
97
7
17
14
10
8
5
2
12
5
16
11
25
9
2
9
85
D is tr ic t o ffic e s........................................................................
501
366
135
Division o f E xam ination.................................................
501
366
135
iExcludes 11 persons employed by deposit insurance national banks.
f in a n c ia l a s p e c t s o f t h e
c o r p o r a t io n
Capital stock. There were no changes in the ownership of the
outstanding capital stock of the Corporation during 1935. In accordance
with provisions of the law, the Secretary of the Treasury on behalf of the
United States had subscribed and paid $150,000,000 in November 1933,
and the Federal Reserve banks had subscribed $139,299,556.99 which was
paid in equal installments in January and April 1934.
The original deposit insurance law required banks becoming insured
under the permanent plan to subscribe to capital stock of the Corporation.
This requirement was eliminated from the law by the Banking Act of
1935 and all of the capital stock was made nonvoting, nondividend
paying, and of no par value.
Assessments for the temporary Federal deposit insurance funds*
Under the provisions of the original deposit insurance law and the amend
ments enacted in June 1934, banks insured by the temporary Federal
10
FEDERAL DEPOSIT INSURANCE CORPORATION
deposit insurance funds were assessed an amount equal to one-half of 1
percent of the deposits eligible for insurance. Assessments were levied
on the basis of certified statements submitted as of December 15, 1933,
or, for banks admitted subsequent to January 31, 1934, as of the fifteenth
of the month preceding the date of approval for admission. New banks
were assessed an amount equal to 5 percent of paid-in capital and surplus,
one-half of which was called for. These assessments were adjusted to a
basis of insured deposits shown by statements filed as of October 1,
1934.
The Act of June 16, 1934, extending the term of the temporary funds,
increased the insurance coverage from $2,500 to $5,000 for each depositor.1
An adjustment in the amount of assessment was made on the basis of
certified statements submitted as of October 1, 1934. Banks admitted
to insurance subsequent to October 1, 1934, paid assessments on the basis
of statements submitted at the time of admission.
One-half of the assessments was paid; the other half was made payable
on call by the Board of Directors of the Corporation. It was not nec
essary to call for the second half of the assessments.
Cost o f operation o f temporary Federal deposit insurance funds.
The charges against the temporary funds include payments to depositors
of suspended banks, less the estimated recoveries by the Corporation on
its subrogation claims, plus the expenses associated with the making of
these payments. The total charges upon the temporary Federal deposit
insurance funds on account of suspensions of banks during the period of
operation of the temporary plan amounted to $1,670,285.42.
Refunds to banks withdrawing from the temporary funds.
Banks which withdrew from insurance during the period of the temporary
insurance plan or at its close, or went into voluntary liquidation during
that period, were refunded the assessments which they had paid less their
share of the costs of operation of the temporary fund. Such refunds
amounted to $9,772,648.87.
Assessments under the permanent plan. The revised permanent
insurance plan provided that each insured bank should file a certified
statement on or before November 15, 1935, showing its average daily
deposit liabilities, adjusted for uncollected items, for the month of
October, and that the initial assessment covering the period ending
December 31, 1935, should be one-third the annual assessment rate of
one-twelfth of 1 percent upon such deposits.
The aggregate of the initial assessment upon all insured banks amounted
to $11,475,840.19. This assessment was deducted from the credits to
the individual insured banks arising from the assessments which had
been paid into the temporary Federal deposit insurance funds. Initial
assessments exceeded credits established at the close of the temporary
JThe increase in coverage was made optional for mutual savings banks.
FINANCIAL ASPECTS
11
funds in the case of only 25 banks. It is estimated that about two-thirds
of the insured banks have sufficient amounts to their credit to cover the
two semi-annual assessments due in 1936.
Each bank is required to file a statement on or before January 15 and
on or before July 15 of each year showing the average daily amount of
its deposits, adjusted for uncollected items, during the six months ending,
respectively, on the preceding December 31 and June 30.1
Operating expenses o f the Corporation. The Board of Directors
of the Corporation, under the deposit insurance law, is made fully respon
sible for all expenses of operating the Corporation, including determination
of the number of employees and of their compensation, and the incurring
of overhead expenses. The President of the United States by Executive
Order No. 7150, dated August 19, 1935, requires the submission to the
Bureau of the Budget of estimates of the Corporation’s expenditures.
The operating expenses of the Corporation during 1935, not including
estimated losses resulting from and expenses incidental to payments to
depositors in closed banks were approximately $2.5 million. Both in
1934 and in 1935 these operating expenses were less than the current in
come of the Corporation from the investment of its funds.
Financial statements. Condensed balance sheets of the Corporation
as of December 31, 1934, and December 31, 1935, are given in Table 2.
An analysis of surplus for the year 1935 is shown in Table 3. A statement
showing the condition of the Corporation at the close of the temporary
funds, August 22, 1935, and including an analysis of surplus to that
date, will be found on page 230.
PAYMENTS TO DEPOSITORS IN SUSPENDED INSURED BANKS
Twenty-six insured banks suspended during 1935, of which 4 were
national banks and 22 were State banks not members of the Federal
Reserve System. Sixteen banks, one of which was reopened with no
payments to depositors being made by the Corporation, closed prior to
the termination of the temporary Federal deposit insurance funds. Ten
banks insured under the permanent plan suspended. One of these
suspended on the last day of the year, and was not placed in liquidation
until 1936. Twenty-four banks were placed in receivership, and the
Corporation began to make payments to their depositors during 1935.
Deposits paid by the Federal Deposit Insurance Corporation.
The insured deposits have been paid as rapidly as the depositors have
presented and proved their claims. By December 31, 1935, the Cor
poration had paid $5,447,000, or more than 89 percent, of the insured
deposits in the 24 suspended banks which were placed in receivership
lrThe certified statements required to be submitted on or before January 15, 1936, reported average
deposits for only the three months ending December 31, 1935.
12
FEDERAL DEPOSIT INSURANCE CORPORATION
T a b le 2.
The
C OM PAR ATIVE B A L A N C E SH E ET OF
F ederal
D ecember
D e p o s it
31, 1935,
Insurance
and
C o r p o r a t io n ,
D ecember
31, 1934
December
31, 1935
December
31, 1934
ASSE TS
C A S H O N H A N D A N D O N D E P O S IT ..................................
$ 33,47 7 ,8 6 0 .7 3
$ 1 5,984,425.01
U N I T E D S T A T E S G O V E R N M E N T S E C U R IT I E S —
(cost less reserve for amortization o f premiums) A N D
A C C R U E D I N T E R E S T R E C E I V A B L E ............................
$298 ,2 5 8 ,3 4 9 .7 6
$316 ,6 7 9 ,0 9 3 .8 0
$
5 ,8 40,595.75
$
861,3 7 9 .3 5
$
2 ,8 2 0 ,0 1 4 .0 3
9,34 5 ,1 4 8 .6 2
3 ,9 2 7 ,0 4 7 .2 7
$
861,379 .35
387,087 .11
A S S E T S A C Q U I R E D T H R O U G H B A N K S U S P E N S IO N S
AN D M ERG ERS:
Subrogated claims o f depositors against closed insured
banks.................................................................................................
N e t balances o f depositors in closed insured banks
pending settlement or not claimed, to be subrogated
Loans to merging banks to avert deposit insurance
losses..................................................................................................
Less:
.............................................................
Reserve for losses
$
5,4 18,101.35
$
47 4 ,2 9 2 .2 4
F U R N I T U R E , F I X T U R E S , A N D E Q U I P M E N T ............
$
1.00
$
110,326 .89
D E F E R R E D C H A R G E S A N D M IS C E L L A N E O U S
A S S E T S .....................................................................................................
$
55,483.13
$
3 5 ,2 1 4 .5 5
T O T A L A S S E T S ..................................................................
$337 ,2 0 9 ,7 9 5 .9 7
$3 3 3 ,28 3,35 2.49
$
$
L I A B I L IT I E S
C U R R E N T L IA B IL IT IE S :
Accounts and assessment rebates p a y a b le..............................
N e t balances of depositors in closed insured banks pending
settlem ent or not claimed— contra.........................................
U N U S E D C R E D IT S FO R A S SE SSM E N T S P A ID TO
T E M P O R A R Y F E D E R A L D E P O S IT I N S U R A N C E
F U N D S (am ount shown for December 31, 1934, repre
sents assessments paid to that d a te )..........................................
92,53 4 .3 9
2 1 1 ,0 4 2 .3 6
6 8 4 ,538 .84
...............................
3 0 ,2 5 7 ,1 0 8 .5 3
41,35 3 ,0 6 1 .0 5
R E SE R V E FO R U N D E T E R M IN E D E X P E N S E S A N D
L O S S E S ....................................................................................................
118,278 .69
66,521.43
T O T A L L I A B I L I T I E S ....................................................
$ 3 1 ,1 5 2 ,4 6 0 .4 5
$ 4 1 ,6 3 0 ,6 2 4 .8 4
C A P IT A L
C A P IT A L S T O C K :
United States..........................................................................................
Federal Reserve banks.......................................................................
$150 ,0 0 0 ,0 0 0 .0 0
1 3 9 ,299 ,556 .99
$ 1 5 0 ,00 0,00 0.00
1 3 9 ,299 ,556 .99
S U R P L U S (See Table 3 ) .....................................................................
$ 2 8 9 ,2 9 9 ,5 5 6 .9 9
1 6,757,778.53
$289 ,2 9 9 ,5 5 6 .9 9
2 ,3 5 3 ,1 7 0 .6 6
T O T A L C A P I T A L ..............................................................
$306 ,05 7 ,3 3 5 .5 2
$ 2 9 1 ,65 2,72 7.65
T O T A L L IA B I L IT I E S A N D C A P I T A L ...............
$337 ,2 0 9 ,7 9 5 .9 7
$333 ,2 8 3 ,3 5 2 .4 9
13
FINANCIAL ASPECTS
T a b le 3.
ANALYSIS OF SURPLUS ACCOUNT AND DISTRIBUTION OF
A d m i n i s t r a t i v e E x p e n s e s , F e d e r a l D e p o s it I n s u r a n c e C o r p o r a t io n ,
C a l e n d a r Y e a r 1935
I.
A N A L Y S I S OF S U R P L U S
B A L A N C E D E C E M B E R 31, 1 9 3 4 .........................................................................................
A D D — N E T A D J U S T M E N T S A P P L IC A B L E T O P E R IO D S P R IO R T O
J A N U A R Y 1, 1935.......................................................................................................................
$
2 ,3 53,170.66
B A L A N C E AS A D J U S T E D D E C E M B E R 31, 1 9 3 4 ..................................................
$
2 ,376,484.15
23,313.49
S U R P L U S F O R T H E Y E A R E N D I N G D E C E M B E R 31, 1935:
Additions:
Deposit insurance assessments . . . .
Interest earned and profit on sales
of securities (/e s s provision for
am ortization o f prem iu m s) . . . .
$ 11,475,840.19
___ 9 ,2 44,935.99
$ 2 0 ,720,776.18
D eductions:
Deposit insurance losses and ex
penses....................................................
Administrative expenses...................
Provision for undetermined ex
penses and losses..............................
Reduction in book value o f fur
niture, fixtures, and equipment
$
3 ,638,038.15
2,516,881.49
33,675.47
6 ,339,481.80
1 4,381,294.38
B A L A N C E D E C E M B E R 31, 1 9 3 5 ...........................................................................................
$ 1 6 ,757,778.53
I I.
______ 150,886.69
D IS T R IB U T IO N OF A D M IN IS T R A T IV E E X P E N S E S
Salaries.......................................................................................................................................................
Professional services............................................................................................................................
Services o f other governmental agencies...................................................................................
T ransportation.......................................................................................................................................
Subsistence...............................................................................................................................................
Office rental.............................................................................................................................................
Printing, stationery, and supplies................................................................................................
Postage, telephone, and telegraph...............................................................................................
Fidelity bond prem iu m s....................................................................................................................
Subscriptions...........................................................................................................................................
Equipm ent ren ta l.................................................................................................................................
Repairs and alterations.....................................................................................................................
Transportation o f th in gs...................................................................................................................
Advertising and notices.....................................................................................................................
M iscellaneous.........................................................................................................................................
$
1,758,309.03
15,993.54
609.75
117,039.29
379,552.31
110,444.29
6 7,378.87
46 ,8 3 0 .8 7
3 ,4 7 8 .0 9
2,838.01
811.80
8,57 0 .9 7
2 ,115.18
1,571.69
2,387.15
$
2 ,5 17,930.84
1,049.35
$
2 ,516,881.49
Less net income from sign sa les...............................................................................................
A D M I N I S T R A T I V E E X P E N S E S F O R T H E Y E A R E N D IN G
D E C E M B E R 31, 1 9 3 5 .................................................................................................................
14
FEDERAL DEPOSIT INSURANCE CORPORATION
during the year. Insured deposits of $666,000 remained unpaid at the
end of the year. More than two-thirds of the unpaid insured deposits
were deposits in the last nine banks to close; the remainder was made up
of unproved claims, of inactive accounts, and of the accounts of depositors
who failed to file claims although repeated notices had been sent to them.
The figures are summarized in Table 4.
Table 4.
D E P O S I T S IN T H E
24
IN S U R E D B A N K S P L A C E D IN R E C E I V E R S H I P
D u r i n g 1935
Am ount of deposits
(in thousands of dollars)
Paid by
December
31, 19351
Unpaid on
December
31, 1935
9,013
5,926
3,087
6,113
452
561
5,447
98
358
666
354
203
1,887
23
1,864
Total
Insured (excluding secured and preferred portions)
Secured and preferred............................................................
Subject to o ffset.......................................................................
Uninsured, unsecured, not preferred, and not sub
ject to offset..........................................................................
1 Inclu des paym ents m ade both b y the Federal D eposit Insurance C orporation and b y receivers.
Depositors in the 24 insured banks placed in receivership during 1935
numbered 31,811. Of these, 31,598 were fully protected by insurance,
preferred claims, pledge of security, or offsetting claims; 213 depositors
had only a general claim on the assets of the bank in receivership for
deposits in excess of $5,000. By December 31, 1935, the claims of
21,195 depositors had been paid by the Corporation or settled by the
allowance of their preferment or by the sale of pledged security. The
deposit claims of 1,951 depositors had been fully settled by the offsetting
of counter claims which the bank held against these depositors. The
claims of 8,665 depositors had not been presented or proved by Dec
ember 31, 1935, and, as a consequence, the Corporation was unable to
make payment on them.
During 1935 payments amounting to $60,380 were made by the
Corporation to previously unpaid depositors of the nine insured banks
which closed during 1934. At the end of 1935, only $18,657 still re
mained due to about 3,400 depositors on their insured deposits in these
banks. The claims of most of these depositors had not been presented.
Procedure for paying depositors. Upon notification of the sus
pension of an insured bank, preparations are begun immediately for
payment of the insured deposits. All deposit accounts in the various
classifications found in the closed bank’s records are analyzed in such
a manner as to bring all items from the respective classes of accounts
into one total for each depositor in the same right and in the same
capacity. All debts due the closed bank by each depositor in the same
right and in the same capacity are also noted. In this way each net
insured deposit payable by the Corporation is established in conformity
PAYMENTS TO DEPOSITORS
15
with the requirements of law. This preparation is usually accomplished
within the period ordinarily designated by statute in which directors or
stockholders may institute proceedings to contest the action of the
authority which closed the bank.
Payment of the insured deposits is started promptly after the respec
tive receiverships become final. In the banks which suspended and
were placed in receivership during 1935 this interval varied from 1 to 28
days, and averaged 10 days.
The Banking Act of 1933 required that the Corporation organize a
new national bank to succeed each suspended insured bank. When
organized, such bank served as the agency of the Corporation for paying
the insured deposits of the closed bank. The Corporation made avail
able to the new bank an amount equal to the estimated insured deposits
of the closed bank plus an amount necessary to cover its operating
expenses. As depositors proved their claims and assigned them to the
Corporation, orders were drawn by the claim agent of this Corporation
on the new bank for the net amount of the depositor’s insured deposits.
These orders were non-negotiable and upon presentation to the new
bank were paid in cash or by draft on a Federal Reserve bank.
The Banking Act of 1935, which became effective August 23, 1935,
permits payments to be made directly to the depositors by claim agents
appointed by the Corporation. However, the Corporation may, if it is
considered advisable, organize a new national bank in the same com
munity to assume the insured deposits of a closed insured bank. The
depositors have been paid directly by the Corporation in the case of
eight insured banks which suspended between August 23 and December
31, 1935. The power to make payments through a new bank has been
exercised in only one case (Bradford, Pennsylvania) since the effective
date of the new act.
Deposit insurance national banks. The new national bank
organized in connection with the payment of the insured deposits in a
closed bank is chartered without capital under the title, “ Deposit
Insurance National Bank o f ................................ (name of the city in
which it is located,)” . The business of this bank is conducted under the
direction of an official designated by the Federal Deposit Insurance
Corporation.
Although deposit insurance national banks may be authorized by
the Corporation to accept new deposits, only one institution thus far
organized has been given this power. The deposit insurance national
banks organized prior to August 23, 1935, have served merely as paying
agencies of the Corporation. Funds made available to such banks by
the Corporation and deposits accepted by these banks must be held
in cash, invested in direct obligations of the United States Government,
or carried on deposit with the Corporation or with a Federal Reserve
bank.
16
FEDERAL DEPOSIT INSURANCE CORPORATION
The deposit insurance law provides for the capitalization of deposit
insurance national banks within a period of two years, if in the discretion
of the Corporation it is desirable and in the public interest to establish
another bank in the community in which the insured bank closed.
This capitalization is accomplished through the sale of capital stock as
required for the organization of an ordinary national bank in the
locality. The deposit insurance national bank is then chartered as an
ordinary national banking association. If such capitalization is not
accomplished within two years from the date of organization, the affairs
of the deposit insurance national bank must be closed and its charter
surrendered. It is expected that all of the deposit insurance national
banks organized prior to August 23, 1935, will be liquidated at the
earliest possible date. At the close of the year arrangements were
being made for the capitalization of the Deposit Insurance National
Bank of Bradford, Pennsylvania.1
LIQUIDATION OF INSURED BANKS IN RECEIVERSHIP
Receiverships of insured banks. Four of the insured banks
suspended during 1935 were national banks and, as required by law, the
Corporation was appointed receiver for these institutions. In addition,
the Corporation was appointed by State authorities as liquidator of two
State banks placed in receivership during the year. The Corporation
has also continued to act as receiver of the one national bank which
suspended during 1934. The receiverships of 18 insured State banks
which suspended during 1935 and of the 8 which closed during 1934
are being administered by representatives of the banking authorities
of the States in which the closed banks were located.
Recoveries from banks in receivership. Dividends received by
the Corporation to December 31, 1935, from the liquidation of the 33
suspended insured banks placed in receivership during 1934 and 1935
amounted to $528,532. Based upon estimates of recovery adjusted to
December 31, 1935, it is expected that the Corporation will ultimately
recover about 65 percent on the claims to which it was subrogated upon
payment of insured deposits in these banks. These estimates indicate
a loss to the Corporation of approximately $2.5 million on account of
payments to depositors in insured banks which were placed in re
ceivership during 1934 and 1935.
By December 31, 1935, the nine insured banks which suspended
during 1934 had been in liquidation from 12 to 18 months. The
x0n June 20, 1936, the capitalization having been completed, the bank became The Citizens National
Bank of Bradford, Pennsylvania.
17
LOANS ON ASSETS OF INSURED BANKS
dividends received up to that date by the Corporation on its subrogated
claims against these banks were:
100
75
30-35
15
percent
percent
percent.
percent
3 banks;
1 bank;
4 banks;
1 bank.
It is anticipated that further payments will be received in all cases
except those in which 100 percent has already been received.
LOANS ON ASSETS OF INSURED BANKS
Powers o f the Corporation. Under the Banking Act of 1935 the
Federal Deposit Insurance Corporation is authorized to make loans
secured by assets of insured banks provided: first, such a loan will
reduce the risk or avert a threatened loss to the Corporation; and
second, the loan will facilitate a merger or consolidation of the borrowing
bank with another insured bank or the sale of its assets and the assump
tion of its liabilities by another insured bank. Under the same con
ditions the Corporation may purchase assets from insured banks, or
guarantee one insured bank against loss by reason of its assuming the
liabilities and taking over the assets of another insured bank.1
Advances by the Corporation under this provision will ordinarily
be in the form of loans, but the power to purchase assets is also of
importance, particularly in cases where, by limitations imposed by State
law or by charter, the bank is prevented from borrowing money or
pledging assets beyond a specific amount, or where the existence of
mortgage moratoria laws involving restrictions on foreclosures makes
it impracticable to loan money on such security.
Purpose o f powers. The loan, purchase, and guarantee powers of
the Corporation are used to effect absorptions, mergers, or consolidations
where such operations will increase the strength of the banking structure
and reduce the loss to the Corporation. Where a bank has its capital
impaired or completely depleted and the continued contribution of
capital only postpones failure, the Corporation will eventually have to
take a loss. It is preferable to take such losses currently and not
permit them to accumulate and to fall heavily upon the Corporation’s
reserves during a period of financial stress. Use of the loan, purchase,
or guarantee powers of the Corporation facilitates the elimination of
banks which remain in an unsatisfactory condition and which cannot
be rehabilitated otherwise with reasonable promptness.
Use o f powers during 1935. During the few months elapsing
between the effective date of the Banking Act of 1935 and the close of
the year, one loan was made to an insured bank under these provisions.
xThis pow er was granted originally o n ly until July 1, 1936, bu t was further extended until July 1, 1938,
b y Pu blic R esolu tion o f Congress N o. 83, app roved A pril 21, 1936.
18
FEDERAL DEPOSIT INSURANCE CORPORATION
This loan amounted to $2,862,650. No bank assets were purchased
during the year, nor was any guarantee executed.
ADMISSIONS TO AND TERMINATIONS OF INSURANCE
Admissions to the temporary insurance funds. From the be
ginning of the year to the close of the temporary insurance funds, 199
banks not members of the Federal Reserve System applied for admission
to insurance.1 These banks were examined, and all except 10 were
admitted to insurance.
Six banks whose applications had been received in 1934 were also
admitted in 1935, and one bank which suspended was reopened and re
instated as an insured bank. The total number of admissions of banks
not members of the Federal Reserve System, from the beginning of the
year to the close of the temporary funds, was 196. One of the banks
admitted was a mutual savings bank.
During the same period 28 national banks opened for business on the
authorization of the Comptroller of the Currency, and 3 newly organized
State banks were admitted to membership in the Federal Reserve System.
These banks automatically became insured.
Admissions to insurance under the permanent plan. The
Banking Act of 1935 requires that the Corporation, in passing on the
application of a noninsured bank for admission to insurance, give con
sideration to the financial history and condition of the bank, the adequacy
of its capital structure, its future earning prospects, the general character
of its management, and the consistency of its corporate powers with the
purposes of the deposit insurance law.
During the period from August 23 to the end of the year applications
were received from 124 State banks for admission to insurance. Of
these applications, 44 were approved, 24 were rejected, and 56 were
pending at the close of the year.2 Table 5 shows how many of the banks
admitted to insurance, and of those rejected, were operating at the begin
ning of the year, and how many were new banks opened or contemplated,
During the same period six national banks opened for business on the
authorization of the Comptroller of the Currency, one State bank member
of the Federal Reserve System which had been closed was reopene/i, and
one newly organized State bank and one State bank not previously insured
were admitted to membership in the Federal Reserve System. These
banks automatically became insured.
Term ination o f insurance in the temporary funds. The Banking
xThis figure does not include one app lication from a bank w hich, when licensed to resume business,
was adm itted to the Federal Reserve System .
It also excludes 10 applications w hich, because of lack
o f inform ation or obv iou sly inadequate plans, were not considered b y the Board o f D irectors o f the
C orporation.
2One o f the banks adm itted to perm anent insurance was insured under the tem porary plan, w ithdrew
at its close, but applied for readm ission before its deposits had ceased to be insured.
A n oth er did not
open for business until after the close o f the year 1935.
19
ADMISSIONS TO AND TERMINATIONS OF INSURANCE
Table 5,.
BANKS NOT MEMBERS OF THE FEDERAL RESERVE SYSTEM
A pproved
and
A u gu st
R e je c te d
23 —
for
D ecem ber
Insu ran ce
31, 1935
Total
Approved
Rejected
A ll b a n k s .........................................................................................................
68
44
24
In operation January 1, 19 3 5 1..........................................................
27
14
13
3
3
Successors to insured banks operating January 1, 193 5. .
Opened during 1935, operating at time o f submitting appli
cation for insurance2 .........................................................................
N o t operating at time of submitting application for insurance3
19
13
6
19
14
5
in c lu d e s one bank op e ra tin g as a private com pan y on January 1, 1935, w hich becam e a State
bank in 1935.
2Includes tw o banks form ed in con n ection with consolidations o f insured banks.
3Includes cases in which the organization of new banks, or reorganization o f restricted or closed
banks, was contem plated . Also includes one bank licensed in 1935 but not opened for business until
January 2, 1936.
Act of 1935 provided for the automatic admission to insurance under the
permanent plan of all banks insured at the close of the temporary funds,
except banks which signified within 30 days their intention to withdraw
from insurance and banks which had failed to file the required certified
statement of deposits and to pay assessments.
Thirty-four banks insured under the temporary plan withdrew within
30 days after the close of the temporary funds.1 One other bank had
its insurance status terminated by reason of failure to file the certified
statement required in connection with the temporary funds.2
From January 1, 1935, to the close of the temporary funds 16 insured
banks suspended, and the insured status of 172 banks was terminated
on account of voluntary liquidations, successions, mergers, consolidations,
or absorptions by other banks. The insurance of three other banks was
automatically terminated when they withdrew from the Federal Reserve
System.
Termination of insurance under the permanent plan. The
Banking Act of 1935 provides for the voluntary withdrawal of banks
from insurance under the permanent insurance plan, and also for the
termination by the Corporation of the insured status of any bank if the
bank is found by the Corporation to have continued unsafe or unsound
practices or to have knowingly or negligently permitted its officers or
agents to violate any law or regulation to which it is subject. Termina
tion of insurance by the Corporation because of unsound practices or
violation of law is to be made only after giving notice to the supervisory
authority having jurisdiction over the insured bank, and after a hearing
at which the insured bank may give evidence regarding its operations.
During the period from August 23 to December 31, no withdrawals
1This figure includes one bank which applied for readm ission to insurance within 50 days after the close
o f the tem porary funds, and the deposits of which were therefore contin uously insured. Th e figure
also includes one bank w hich had already liqu idated all of its deposits, and is classified in the tables on
pages 144-46 as an “ other liq u id a tion .”
2This bank had attem pted to w ithdraw from insurance on July 1, 1934, but was unable to do so because
its statem ent of intention to w ithdraw was not filed within the tim e perm itted b y law
20
FEDERAL DEPOSIT INSURANCE CORPORATION
from insurance occurred except those at the close of the temporary funds,
and no terminations were made by the Corporation. During the same
period 10 insured banks suspended, and the insurance of 80 banks was
terminated on account of voluntary liquidations, successions, mergers,
consolidations, or absorptions by other banks.
Classification of banks admitted to insurance and of banks
terminating insurance. The total number of banks admitted to in
surance during 1935, including both those approved for insurance by the
Federal Deposit Insurance Corporation and those automatically admitted.
was 279. These banks were distributed as follows:
New banks organized during the year.........................................................
63
Successors to, or consolidations of, banks operating at the beginning
of the year..........................................................................................................
11
Banks in operation but not insured at the beginning of the year
(including one mutual savings bank).......................................................
72
Reorganizations of, or successors to, closed or restricted banks (in
cluding one bank in Hawaii)........................................................................
94
Successions to other insured banks (including new banks formed by
the consolidation of insured banks).........................................................
35
State banks withdrawing from the Federal Reserve System
readmitted to insurance as banks not members of the Federal
Reserve System ................................................................................................
3
Reinstatement of an insured bank which had suspended and reopened
1
The total number of insured banks discontinuing operations or otherwise
terminating insurance was 315. These banks were distributed as follows:
Withdrawals from insurance............................................................... ..........
34
Suspensions (including one bank later reopened and reinstated to
insurance)...........................................................................................................
26
Net reduction on account of consolidations with other insured banks
155
Successions by noninsured banks, and consolidations with or to form
noninsured banks......................................................................................
11
Successions by other insured banks..............................................................
35
Other banks liquidating or discontinuing operations..............................
51
Withdrawals from Federal Reserve membership (readmitted to
insurance as banks not members of the Federal Reserve System)
3
Table 6 gives further details regarding the classification of banks
admitted to insurance, and of banks terminating insurance, during 1935.
Consolidations of insured with noninsured banks. Under the
terms of the Banking Act of 1935, mergers or consolidations of insured
banks with noninsured banks, and the assumption of deposit liabilities
of noninsured banks by insured banks or the transfer of deposit liabilities
from an insured bank to a noninsured bank, must be approved by the
Federal Deposit Insurance Corporation.
During the period from the effective date of the Banking Act of 1935
to the end of the year, three mergers of insured and noninsured banks
occurred.
Table 6.
CLASSIFICATION OF BANKS ADMITTED TO INSURANCE AND BANKS TERMINATING INSURANCE DURING 1935
BY CLASS OF BANK
Banks members
F . R . System
Banks not members
F. R. System
banks
N ational
A d m is s io n s — t o t a l .................................................................................................................................................................................
M utual
savings
C om
mercial
State
238
1
19
3
1
217
71
10
1
90
3
6
2
81
3
1
45
18
12
D ir e c tly o ffse t by t e r m i n a t i o n s ..............................................................................................................................................
Successions to other insured banks2 ......................................................................................................................................
Banks withdrawing from Federal Reserve System readmitted to insurance as banks not members of
Federal Reserve S y s te m ..........................................................................................................................................................
Reinstatement o f insured bank which suspended and reopened.............................................................................
39
35
15
15
T e r m in a t io n s — t o t a l ............................................................................................................................................................................
315
110
19
173
13
N o t d ire c tly o ffse t b y a d m i s s i o n s .........................................................................................................................................
W ithdrawals from insurance......................................................................................................................................................
Suspensions (excluding one bank reopened)......................................................................................................................
Consolidations with other insured banks— net reduction...........................................................................................
Successions by noninsured banks, or consolidations with or to form noninsured b a n k s .............................
Other banks liquidating or discontinuing operations....................................................................................................
276
34
25
155
11
51
97
12
13
8
1
154
26
21
68
3
36
D ir e c tly o ffse t b y a d m i s s i o n s ..................................................................................................................................................
Succeeded b y other insured b an k s2 .......................................................................................................................................
B anks withdrawing from Federal Reserve System readmitted to insurance as banks not members of
Federal Reserve S y s te m ..........................................................................................................................................................
Suspended bank which was reopened and reinstated....................................................................................................
39
35
13
13
7
4
19
18
11
1
1
3
3
21
17
3
1
1
11
3
1
in c lu d e s six banks not m em bers o f the Federal Reserve System which opened as noninsured banks and operated m ore than a m onth before adm ission to insurance, but
the predecessors o f w hich were insured on January 1, 1935.
in c lu d e s one new ban k a dm itted to insurance and one term ination in each o f seven cases of con solida tion s in v o lv in g the issuance o f new charters.
5
INSURANCE
4
71
8
14
OF
1
TERMINATIONS
33
18
3
3
AND
6
240
72
TO
34
N o t d ir e c tly o ffs e t b y t e r m i n a t i o n s ....................................................................................................................................
B anks operating bu t not insured January 1, 1935 .........................................................................................................
Successors to, or consolidations o f banks operating January 1, 19351 .................................................................
Reorganizations o f, or successors to, closed or restricted banks:
Insured at time o f opening or within one month thereafter.................................................................................
Operating more than one month prior to admission to insurance......................................................................
Reorganization o f closed bank in Hawaii not included a b o v e ...........................................................................
B anks opened during 1935 w ithout ascertainable precessors:
Insured at time o f opening or within one month thereafter.................................................................................
Operating more than one m onth prior to admission to insurance.....................................................................
ADMISSIONS
All
K>
22
FEDERAL DEPOSIT INSURANCE CORPORATION
Establishment and change o f location of branch offices. Under
the provisions of the Banking Act of 1935 the approval of the Corporation
is necessary whenever an insured bank not a member of the Federal
Reserve System establishes a branch or changes the location of a branch.
Between the effective date of the Banking Act of 1935 and the end of the
year applications were received "from 25 banks for permission to establish
or relocate branches. In 23 cases the applications covered the establish
ment of one new branch, in one case the consolidation of two branches into
one branch and the establishment of a new branch, and in one case a
change of location of a branch. Of these applications for permission to
establish or change the location of branches, 10 were approved, 5 were
rejected and 10 were pending or had been dropped at the close of the year.
APPLICATIONS FOR CAPITAL CHANGES AND FOR RELEASE OF
RESTRICTED DEPOSITS
Under the Banking Act of 1935 insured banks not members of the
Federal Reserve System must obtain the approval by the Corporation
of any reduction or retirement of common or preferred capital stock or
capital notes or debentures. They must also obtain the permission of
the Corporation to release deposits previously restricted and for that
reason not insured.
Reduction of capital stock. From August 23 to the end of the
year 191 banks applied for permission to reduce or retire capital obliga
tions amounting to $13,317,400. Of these applications 134, involvingi l l , 189,600, were approved by the Corporation. Of the applications
approved, 98 involved retirement of $5,104,900 of obligations held by the
Reconstruction Finance Corporation. Reductions of common stock and
retirements of locally held preferred stock or capital notes, amounting to
$6,084,700, were approved in 37 cases.1 Most of these applications were
for the purpose of revaluing book capital in order to write off accumulated
losses. In a few cases, however, the retirement was to be utilized in
whole or in part to return capital to stockholders.
Release o f restricted deposits. At the beginning of 1935 approxi
mately 140 insured banks not members of the Federal Reserve System
had a portion of their deposits deferred or restricted. Such deferred or
restricted deposits amounted to $16 million. The original permanent
insurance plan made no provision for the exclusion from insurance of
such restricted deposits if these banks were admitted to permanent
insurance. In anticipation of the permanent plan becoming effective
July 1, 1935, these banks were examined, and attempts were made to
arrange for the elimination of such restricted deposits. However, the
Banking Act of 1935 excludes restricted deposits from insurance under
lOne application approved in volved both retirem ent o f obligations held by the R e co n stru ctio n F in
ance C orporation, and revaluation o f private capital.
BANK EXAMINATIONS
23
the revised permanent plan until and unless such deposits, with the
approval of the Corporation, are made available to depositors.
From January 1 to the termination of the temporary plan releases by
116 of these banks to depositors of some or all of their restricted deposits
amounted to approximately $10 million.
Among the banks not members of the Federal Reserve System
admitted to permanent insurance on August 23, 1935, were 61 with
restricted deposits amounting to $6 million. Of this amount nearly $4
million were made available to depositors, with the approval of the
Corporation, by the end of the year.
BANK EXAMINATIONS
Examination policy. The Corporation has continued its policy of
examining each insured bank not a member of the Federal Reserve
System once during each calendar year. Second examinations are made,
if necessary, when it is desired to ascertain the current position of a
particular bank or prior to a consolidation, capital adjustment, or other
change. Where feasible, examinations are conducted jointly with ex
aminers from the State banking departments in order to avoid duplica
tion of examinations and to relieve banks of the inconvenience of
numerous examinations. The Corporation sends to the Reconstruction
Finance Corporation copies of reports of examinations of all insured
banks not members of the Federal Reserve System in which that
Corporation has an investment in preferred stock, capital notes, or
debentures.
Examination personnel and procedure. The organization of the
Division of Examination includes a staff of review examiners and
assistants in the Washington office, and, in each of the 12 districts, a
supervising examiner with a staff of examiners and assistants.
Early in 1935 examiners from each of the 12 districts were selected
for specialized work in the examination of trust departments of insured
banks. These specialists in trust work were assigned to examine the
larger trust departments and to advise other examiners in the conduct
of examinations of smaller trust departments. To aid in this phase of
the examining program a new manual of instructions for examiners of
trust departments was prepared. This manual contains a compilation
of the most recent legislation and court decisions pertaining to the
exercise of fiduciary powers by banks and adapts the examining pro
cedure to current practices in the operation of trust departments.
In the interest of efficiency the Corporation initiated a policy of
holding examiners’ conferences in the various districts. Each con
ference is held under the direction of a supervising examiner with all
examiners and assistant examiners of that district in attendance.
24
FEDERAL DEPOSIT INSURANCE CORPORATION
Various phases of examination procedure are discussed by bank ex
aminers and other persons having specialized experience in the appraisal
of real estate and securities and in other phases of examination procedure.
Two such conferences were held during 1935.
Number of examinations made. During the year 8,200 bank
examinations were made by the Corporation. This number includes
one regular examination for each of the 7,711 banks not members of
the Federal Reserve System insured during a part or all of the year,
258 second examinations of such banks, and 231 examinations of banks
applying for admission to insurance.1
REGULATIONS AND RULINGS OF THE CORPORATION
During 1935 the Corporation promulgated five regulations relating
to insured banks. Two of these regulations were of a temporary
character and dealt respectively with the right of insured banks not
members of the Federal Reserve System to withdraw from insurance
at the close of the temporary funds, and with the manner of notice
which banks thus withdrawing were required to give to their depositors.
The remaining three regulations are of a permanent character and relate
to the following topics: (I) obligations of insured banks found and
prescribed to be deposit liabilities by general usage; (II) deduction of
uncollected items from total deposit liabilities in determining the assess
ment base; (III) display of official sign at deposit windows and inclusion
of official advertising statement in certain advertisements. A regulation
was also drawn in 1935, but not promulgated until 1936, relating to
the payment of interest on deposits. These regulations will be found
on pages 87-103.
Regulations of a temporary character were given a letter designation,
while the regulations of a permanent character were given a Roman
numeral designation. The Corporation has also issued rulings relating
to deposits evidenced by negotiable instruments and to the reporting for
assessment purposes of deposit liabilities of one bank assumed by another
bank.
Notice of termination of insurance at the close of the tem
porary funds. Under the Banking Act of 1935 all banks insured
under the temporary insurance plan were automatically admitted to
insurance under the permanent plan. State banks not members of the
Federal Reserve System, however, were given an opportunity to ter
minate their insurance as of the close of the temporary funds, provided
they gave notice of such termination within 30 days from the effective
date of the Act. The deposits in banks terminating their insurance
E x a m in a tio n s o f banks app lying for insurance were fewer during 1935 than the num ber o f app lica
tions acted upon b y the Board o f D irectors because o f reapplication by banks w hich had been exam in
ed, but not ap p roved , in 1934.
REGULATIONS AND RULINGS
25
during this period continued to be insured for a further 20 days or until
midnight of October 12, 1935.
A bank electing to terminate its insurance was required to give notice
to the Federal Deposit Insurance Corporation, and to the Reconstruction
Finance Corporation if that Corporation owned or held as pledgee any
preferred stock, capital notes, or debentures of such bank. Regulation
G, adopted by the Board of Directors, and made effective August 26,
1935, prescribed the manner of exercise of this right of an insured bank
not a member of the Federal Reserve System to withdraw from in
surance within 30 days after August 23, the effective date of the Banking
Act of 1935.
Notice to depositors o f insured banks withdrawing from in
surance at the close o f the tem porary funds. The Banking Act
of 1935 provided that the Board of Directors of the Federal Deposit
Insurance Corporation should cause notice of termination to be given
to the depositors of any bank withdrawing from insurance at the close
of the temporary funds. Regulation H, adopted by the Board of
Directors and made effective September 9,1935, prescribed the manner
in which such notice should be given to depositors of those banks which
withdrew within the 30 days allowed. The regulation required that a
notice to depositors, furnished by the Federal Deposit Insurance
Corporation, be posted in each office where the bank withdrawing from
insurance received deposits and also in the main post office in each city,
town, or village in which the bank received deposits. It was further
required that a notice having the same wording be published in con
secutive issues of a local newspaper from September 22 to October 12,
1935.
Obligations o f insured banks found and prescribed to be
deposit liabilities by general usage. Under the provisions of the
revised deposit insurance law certain obligations of an insured bank are
specifically enumerated and made deposit liabilities. The law provides
further that such other obligations of an insured bank “ as the Board of
Directors shall find and shall prescribe by its regulations to be deposit
liabilities by general usage” shall be included as deposit liabilities for
the purpose of ascertaining the base upon which the annual assessment
of the Corporation is levied. Regulation I (Roman one), adopted by
the Board of Directors and made effective August 26, 1935, provides:
(1) that outstanding drafts, cashiers’ checks, and other officers’ checks
shall be considered deposit liabilities if issued for money or its equivalent,
issued for a charge against a deposit account, or issued in settlement of
checks, drafts, or other instruments forwarded to the issuing bank for
collection; (2) that checks drawn against a deposit account and certified
by the drawee bank shall be included among deposit liabilities; (3)
that outstanding drafts, checks, or letters of credit on which the bank
26
FEDERAL DEPOSIT INSURANCE CORPORATION
is primarily liable shall be included in deposits when issued for money
or its equivalent or for a charge against a deposit account. The effect
of this regulation is to include obligations of the various types mentioned
in deposit liabilities when such obligations are issued for the convenience
of customers of the bank but not to include them when issued in payment
for goods or securities purchased or expenses incurred by the bank.
In a ruling of the Corporation adopted October 1, 1935, the phrase
“ equivalent of money” is described by stating that drafts, cashiers’
checks and other officers’ checks, travelers checks and letters of credit
must be regarded as issued for the equivalent of money when issued in
exchange for checks or drafts or for promissory notes upon which the
person procuring any of the enumerated instruments is primarily or
secondarily liable. Another ruling exempts from assessment drafts
drawn on foreign correspondents or foreign branches and payable only
in foreign countries.
Deduction of uncollected items in determining assessment
base. Under the provisions of the revised deposit insurance law insured
banks are permitted to make deductions of certain uncollected items
from total deposit liabilities for the purpose of determining the base
upon which assessments are computed. Regulation II, adopted by the
Board of Directors and made effective August 26, 1935, provides that
uncollected items wrhich have been included in a bank’s total deposit
liabilities may be taken as deductions for the period of one day in the
case of local items and for periods in accordance with the Federal
Reserve bank time schedules in the case of out-of-town items.
Display of official sign and inclusion of official advertising
statement. The revised deposit insurance law provides that each
insured bank shall display at each place of business a sign prescribed by
the Federal Deposit Insurance Corporation, and shall include in ad
vertisements relating to deposits a statement to the effect that its
deposits are insured by the Federal Deposit Insurance Corporation.
Regulation III, approved and made effective on October 11, 1935,
supersedes Regulation F, issued in 1934, and prescribes the manner of
display of such signs and the substance of such advertising statements.
Payment of time deposits and of interest on deposits by insured
banks not members of the Federal Reserve System. The revised
deposit insurance law requires the Board of Directors of the Federal
Deposit Insurance Corporation to prohibit the payment of interest on
demand deposits in insured banks not members of the Federal Reserve
System and to limit the rate of interest paid by such banks on time and
savings deposits. Regulation IV, prescribing such limitations, was ap
proved December 21, 1935, and was intended to supersede Regulations
B and C, issued in 1934. Regulation IV, however, was not promulgated
prior to the close of the year, and was, in fact, amended at a later date
prior to its issuance.
STATE LEGISLATION
27
Deposits evidenced by negotiable instruments. A ruling,
adopted October 1, 1935, provides that the owner of any negotiable
certificate of deposit, negotiable draft, negotiable cashier’s or officer’s
check, negotiable certified check, or negotiable travelers check or letter
of credit will be recognized as an insured depositor if affirmative proof
is presented that the instrument was negotiated to such owner prior to
the date of closing of such bank.
Reporting for assessment purposes deposit liabilities of a bank
which have been assumed by another bank. By a ruling adopted
November 7, 1935, the deposit liabilities of a bank assumed by another
bank are deemed, for purposes of assessment, to have ceased being
deposit liabilities of the first bank and to have become deposit liabilities
of the second bank on the date said assumption becomes effective,
except to the extent that depositors of the first bank by affirmative
action signify their express intention to hold the first bank liable as
debtor.
STATE LEGISLATION AFFECTING DEPOSIT INSURANCE
Recommendations by the Federal Deposit Insurance Corpora
tion. As was indicated in the Annual Report of the Corporation for
the year ending December 31, 1934, the Corporation prepared for
consideration by State legislatures drafts of bills designed to make more
effective the insurance of bank deposits. This legislation was desired
chiefly because it was not possible for banks in all States, at the time the
deposit insurance law became effective, to cooperate with the Federal
Deposit Insurance Corporation to the extent contemplated by Federal
law. The suggested legislation was designed chiefly to serve the
following purposes:
1. To authorize appointment of the Federal Deposit Insurance
Corporation as receiver or liquidating agent of closed insured banks;
2. To provide for cooperation between State banking authorities
and the Federal Deposit Insurance Corporation in making examinations
and in exchanging information with regard to insured institutions;
3. To authorize banking institutions to issue preferred stock without
double liability or to sell capital notes or debentures, and to include
such stock or notes sold to the Reconstruction Finance Corporation in
computing unimpaired capital or in satisfying minimum capital require
ments ;
4. To exempt insured banking institutions, to the extent of the
insurance coverage, from furnishing security for certain types of deposits
under requirements of State law applicable to banks generally;
5. Specifically to authorize banking institutions to take advantage
of all benefits furnished by the Federal Deposit Insurance Corporation.
28
FEDERAL DEPOSIT INSURANCE CORPORATION
State legislation enacted. By the close of 1935 the legislative
bodies of 23 States had adopted the first of the above proposals, and
in seven other States interpretation of existing statutes might, under
varying circumstances, justify the appointment of this Corporation
as receiver or liquidating agent. Twenty-four States had by legislation
or otherwise made the second proposal effective, and eight more had
authorized the exchange of information. Forty-six States had adopted
the third proposal. The fourth proposal was adopted intact, or prac
tically so, in 23 States, partially in 5 more, and was unnecessary in 10
States. The fifth proposal has been adopted intact or in substance in
all of the States except two.
PROBLEMS AND POLICIES OF THE CORPORATION
The Corporation is using the power vested in it to improve the con
dition of insured banks, and thus to reduce the probability of collapse of
large numbers of banks whenever a severe recession in business occurs.
The Corporation, however, possesses only limited powers of supervision of
insured banks and cannot by itself assure the success of its efforts. Num
erous problems of credit policy and of general economic development and
change lie outside its proper sphere of action or influence.
The Corporation attempts to facilitate the adjustments which banks
must make from time to time and to prevent the development in in
dividual institutions of those situations which render them particularly
vulnerable to economic change. The Corporation is concerned with the
availability of banking facilities, competitive relationships among banks
and between banks and other financial institutions, policies relating to
the chartering of banks, the maintenance of adequate capital structure,
the protection of banks against defalcation, and standards of bank
supervision.
Capital cushion. One of the major problems in the preservation of
a sound banking structure is the maintenance of an adequate capital
cushion. Bank supervisors in general and the Corporation in particular
must be continually concerned with the respective proportion of bank
ing funds supplied by owners on the one hand and by creditors, chiefly
depositors, on the other. The greater the proportion of banking funds
supplied by owners, the greater the protection to depositors; the
smaller the capital in relation to total assets, the greater the risk borne by
creditors.
The Corporation has adopted the principle in admitting banks to
insurance and in rebuilding the capital structures of banks that no
bank should be operated without a net sound capital equal to at least
10 percent of its deposits. In relation to liabilities other than capital,
banks during recent years have maintained less than half the amount of
capital funds that was maintained a half century ago.
PROBLEMS AND POLICIES
29
Differences in character of business impose upon banks different
degrees of risk so that a capital ratio adequate for one type of bank
may be wholly inadequate for another type. Furthermore, economic
fluctuations may render inadequate a capital structure previously con
sidered to be sufficient. The further strengthening of the capital
structure of insured banks thus continues to be one of the important
problems of the Corporation.
Bank chartering. During the years preceding 1920, banks were
chartered in many sections of the country which proved to be superfluous
from the standpoint of the banking needs of the communities and the
possibilities of profitable operation. The large number of new banks
organized during this period was one of the factors responsible for the
failures of the 1920’s and early 1930’s.
Responsibility for the chartering of banks is widely scattered with
no single governmental authority controlling the extension of banking
facilities. National banks begin operations with the approval of the
Comptroller of the Currency; State banks members of the Federal
Reserve System with the approval of State and Federal Reserve authori
ties; insured banks not members of the Federal Reserve System with
the approval of State authorities and the Federal Deposit Insurance
Corporation; and noninsured State banks with the approval of State
authorities only. It should be noted also that since the Corporation is
required automatically to admit to insurance all newly organized national
banks and all State banks admitted to membership in the Federal Reserve
System, the application to all classes of banks of uniform standards for
admission to insurance is now possible only through voluntary cooperation
among the Federal agencies involved.
Branch banking. Branch banking has been repeatedly advocated
by many business groups and by many students of banking as a means of
providing banking facilities in places where such facilities are needed
but where independent banks may not be able to operate profitably.
However, relatively little information is available regarding the com
parative costs of operating branches and of operating independent unit
banks, or regarding the types and quality of banking service rendered
by branches and by independent unit banks.
Unnecessary and unprofitable banking offices may result from the
establishment of numerous branches as well as from the chartering
of numerous unit banks. The Corporation, in passing upon applications
for the establishment of branches by insured banks not members of the
Federal Reserve System, examines carefully the needs of the com
munities and the probabilities of profitable operation of banking offices
in those communities. In this connection consideration is given not
only to the number of banks and banking offices and to the volume of
deposits in the community, but also to banking facilities offered by other
30
FEDERAL DEPOSIT INSURANCE CORPORATION
types of credit institutions and to the effect upon the banks of com
petition with such other institutions.
Surety bonds. Defalcation on the part of bank officers or employees
is an important cause of failure of banks. In order that losses of this
type should not fall on the Federal Deposit Insurance Corporation the
Banking Act of 1935 gives the Corporation the power to require insured
banks to carry adequate fidelity or surety bonds.
The problem of establishing definite amounts of fidelity and surety
bonds which must be carried by insured banks is one to which the
Corporation has given attention. No regulations have been issued
regarding this problem. Bank examiners, however, have at times
recommended to banks that they increase the amount of such protection
in cases where the amount carried was obviously inadequate.
Interest rate regulation. Under the Banking Act of 1935 the
Corporation is required to prohibit the payment of interest on demand
deposits in insured banks not members of the Federal Reserve System
and to limit the rates of interest or dividends paid by such banks on
savings and time deposits. The Corporation is also required to pro
hibit insured banks not members of the Federal Reserve System from
paying any time deposit before its maturity except upon such conditions
as may be prescribed by the Corporation, and to prohibit the waiving
by such bank of any requirement of notice before the payment of savings
deposits unless such waiver is extended by the bank to all savings
deposits having that requirement.
These duties are similar to duties imposed upon the Board of Gov
ernors of the Federal Reserve System with respect to banks which are
members of the Federal Reserve System. The Corporation believes
it to be the intent of Congress, through the granting of these regulatory
powers, to prevent unsound competition among banks and to check the
tendency of competition to raise the rates of interest to levels which
may imperil the sound operation of banks. The Corporation has
accordingly endeavored to work in close cooperation with the Board
of Governors of the Federal Reserve System in order to avoid, insofar
as possible, conflicting regulations.
Banks compete with other types of institutions for the savings and
investment funds of the people of the country. If banks pay too high
a rate of interest an unduly large volume of savings deposits will be
attracted to the banks to the detriment of other competing institutions.
On the other hand, if the limits upon the rates of interest which may be
paid by banks are kept at too low levels there will be a tendency for
institutions which are competitors of the banks, such as building and
loan associations, industrial banks, credit unions, and various other
types of savings, investment, and cooperative credit institutions, to
acquire business which has hitherto been held by banks. Decisions re
PROBLEMS AND POLICIES
31
garding maximum rates of interest to be paid on time deposits must from
the very nature of the problem be related to public policy regarding the
functions not only of the banking system but also of other parts of the
credit system.
PART TWO
DEPOSIT INSURANCE AND BANKING DEVELOPMENTS
SUM M ARY OF BANKING DEVELOPMENTS
The year 1935 marked further progress in banking reconstruction and
in the development of a sound deposit insurance structure. Banking
facilities were extended to a number of communities which, since the
banking holiday in 1933, had lacked such local facilities. A number of
weak banks in other communities were merged or consolidated with
stronger institutions.
Deposits in insured banks increased substantially during the year.
This growth was accompanied by a growth in assets generally considered
to be least subject to depreciation—cash, balances with other banks, and
United States Government securities. The quality of the banks’ assets
and the soundness of their capital structures improved during the year.
On the other hand, notwithstanding the growth in their assets, total
earnings of insured banks declined. Total expenses were reduced cor
respondingly, however, and net earnings showed practically no change
from the preceding year. Recoveries on assets previously written off
were larger and write-offs of depreciated assets were smaller, and banks
as a whole showed a net profit in 1935 as compared with a deficit in 1934.
CHANGES IN NUMBER OF COMMERCIAL BANKING OFFICES
Number o f banks and branches. At the close of 1935 there were
18,448 banking offices in operation in the United States and possessions,
an increase of 29 for the year period. The number of operating com
mercial banks was reduced by 104, the number of branches was increased
by 133. The figures are given in Table 7.
T a b le 7.
NUMBER OF OPERATING COMMERCIAL BANKS AND BRANCHES
in
the
U n it e d
at
C lose
States
of
and
1934
and
P o s s e s s io n s
1935
December
31, 1935
December
31, 1934
B a n k s a n d b r a n c h e s ....................................................................................
Insured ...............................................................................................................
N oninsured.......................................................................................................
18,448
17,237
1,211
18,419
17,133
1,286
+29
+104
-7 5
In su red ...............................................................................................................
N oninsured.......................................................................................................
15,246
14,125
1,121
15,350
14,149
1,201
-1 0 4
-2 4
-8 0
B ra n c h e s
.......................................................................................................
Insured ...............................................................................................................
N oninsured.......................................................................................................
3,202
3,112
90
3,069
2 ,984
85
+133
+128
+5
Change
Trend toward branch banking. The reduction in the number of
banks and the increase in number of branches in operation during the
year, shown by Table 7, reflect a continuance of a trend toward branch
35
36
FEDERAL DEPOSIT INSURANCE CORPORATION
banking which has been in existence since the beginning of the century.
The proportion of total banking offices consisting of branches increased
during 1935 from 16.7 percent to 17.4 percent. In 1925 about 6 percent
of the banking offices were branches.
Changes in banks and branches. The number of new banks and
branches opened, the number discontinued and ceasing operation, and the
number of banks converted into branches, in the United States and
possessions during 1935, are given in Table 8.
T a b le 8.
CHANGES IN NUMBER OF OPERATING COMMERCIAL BANKS AND
B r a n c h e s i n t h e U n it e d S t a t e s a n d
P o s s e s s io n s d u r in g 19351
Banks and
branches
Banks
Branches
N e t c h a n g e d u rin g 1 9 3 5 .............................................................................
+29
-1 0 4
+133
N ew ly opened for business2......................................................................
Banks absorbed and converted into branches................................
Otherwise discontinued2.............................................................................
+322
+184
-8 1
-2 0 7
+138
+81
-8 6
-2 9 3
1M ore detailed figures for banks in the continental U nited States are presented in T able 110, page 144.
2Excludes successions and conversions.
The table shows that 184 new banks opened for business during the
year and that 288 banks either discontinued business or were absorbed or
converted into branches. In addition to the 81 branches resulting from
absorption of banks, 138 new branches were opened. Eighty-six branches
were discontinued during the year. One of the banks opened, together
with one of the branches, was located in Hawaii.
The changes in the number of banks and branches reflect further
progress in the reorganization of the banking structure since the panic of
1933. The new banks were generally larger and more advantageously
oeated than were the banks that discontinued business. Of the banks
coming into existence a greater proportion were in towns having no other
banking facilities than was the case of those ceasing operations. Of the
183 new banks established in the United States, 121 were in places without
banks or other banking offices, and 39 were in places having only one
other bank. A smaller percentage of the new banks than of those ceasing
operations were in places with less than 1,000 population; and a smaller
percentage of the new banks than of those ceasing operations had a total
capital account of less than $25,000.
Of the new banks opened for business during 1935, 18 were national
banks, 2 were State banks members of the Federal Reserve System, 136
were State banks not members of the Federal Reserve System which
either were insured at the time of opening or became insured before the
end of the year, and 27 were not insured on December 31, 1935. The
37
CHANGES IN ASSETS AND LIABILITIES
branches newly established or resulting from absorption of banks were
distributed as follows:
Branches of national banks..............................................................................
70
Branches of State banks members of Federal Reserve System.........
*20
Branches of insured State banks not members of Federal Reserve
System ..................................................................................................................
2128
Insured and non insured banks. The proportion of operating com
mercial banks insured by the Federal Deposit Insurance Corporation and
also the proportion of commercial banking offices having insured status
increased slightly during the year. On December 31, 1935, insured
commercial banks held 96.9 percent of the total deposits in all commercial
banks, compared with 97.4 percent on December 31, 1934.
CHANGES IN ASSETS AND LIABILITIES OF INSURED COMMERCIAL BANKS
Condensed consolidated balance sheet. Table 9 gives condensed
consolidated balance sheets of insured commercial banks at the beginning
and at the close of 1935. The chief changes during the year were an
increase in deposits of $5.1 billion, a decrease in other liabilities of $0.7
billion, and an increase in assets of $4.5 billion.
Table 9.
CHANGES DURING 1935 IN ASSETS AND LIABILITIES OF
I n s u r e d C o m m e r c ia l B a n k s
(Am ounts in millions o f dollars)
Am ount
Change during year
December
31, 1935
December
31, 1934
14,698
14,603
+95
+ .7
13,275
6,841
13,851
2,253
11,713
6,459
11,203
2,461
+ 1 ,5 6 2
+382
+ 2 ,6 4 8
-2 0 8
+ 1 3 .3
+ 5 .9
+ 2 3 .6
-8 .5
T o ta l a s s e t s .......................................................................
50,918
46,439
+ 4 ,4 7 9
+ 9 .6
L I A B I L IT I E S A N D C A P IT A L
Total deposits...............................................................................
Borrowed m o n e y ........................................................................
Other liabilities...........................................................................
Total capital account...............................................................
44,126
35
547
6,210
38,996
49
1,242
6,152
+ 5 ,1 3 0
-1 4
-6 9 5
+58
+ 1 3 .2
-2 8 .6
-5 6 .0
+ 0 .9
T o ta l lia b ilitie s a n d c a p i t a l ..................................
50,918
46,439
+ 4 ,4 7 9
+ 9 .6
N um ber o f banks........................................................................
14,123
14,137
-1 4
- 0 .1
AS S E T S
Loans, discounts, and overdrafts........................................
U . S. Government obligations, direct and fully
guaranteed................................................................................
Other securities...........................................................................
Cash and amounts due from other b a n k s......................
Other assets...................................................................................
Am ount
Percent
Growth in deposits. Deposits of insured banks increased from $39
billion to $44 billion or by 13 percent. Only a small proportion of this
change was the result of banks beginning or ceasing operations or of banks
in c lu d e s three branches opened b y banks not m em bers o f the Federal Reserve System w hich were
later adm itted to m em bership.
in c lu d e s one branch opened b y a noninsured bank w hich was later adm itted to insurance.
38
FEDERAL DEPOSIT INSURANCE CORPORATION
admitted to or withdrawing from insurance. Practically all of the in
crease was a growth in the deposits of banks operating throughout the
year.
The greater portion of the growth in deposits occurred in demand
deposits of individuals and business enterprises, this increase being three
times the amount of increase in time deposits of individuals and business
enterprises. Deposits of other banks also contributed to the growth in
total deposits, but United States Government deposits were sharply
reduced.
Deposits increased m each of the States, ranging from 0.1 percent in
Connecticut to 30.0 percent in Nevada. In general, the growth of de
posits was relatively least in the New England States, and relatively
greatest in the East North Central States. Geographic differences in
rates of increase are shown by the map on page 39.
Types of assets acquired by insured commercial banks. The
growth of assets that accompanied the expansion of deposits was chiefly
in cash, amounts due from banks, and United States Government obliga
tions. Cash and amounts due from banks increased almost 24 percent
and continued substantially in excess of legal requirements for reserve
purposes. Holdings of United States Government obligations increased
by 13 percent.
Loans and discounts outstanding and holdings of securities other than
United States Government obligations increased by 2 percent. How
ever, both the volume of new loans made in excess of those paid off by
customers, and the volume of industrial securities purchased in excess
of those matured or sold, were greater than appears from a direct com
parison of bank holdings of these assets at the beginning and end of the
year. Book values of loans and discounts and of securities were reduced
through write-offs and some loans and discounts were exchanged for
obligations of the Home Owners’ Loan Corporation and of the Federal
Land Banks. These obligations are fully guaranteed by the United
States Government.
At the close of 1935 approximately two-fifths of the assets of insured
commercial banks represented credit extended to individuals and business
enterprises (including State, local, and foreign governments) in the form
of loans and discounts and of purchases of securities. United States
Government obligations, direct and fully guaranteed, constituted onefourth of all assets of insured commercial banks. Cash and amounts
due from banks constituted another fourth of the assets of these banks.
PERCENTAGE INCREASE IN DEPOSITS OF INSURED COMMERCIAL BANKS
DECEMBER 31,1934 TO DECEMBER 31,1935
CHANGES
IN
ASSETS
AND
LIABILITIES
□
UNDER
llllll
5%
5 %
TO 10 %
HTTTTT] io %
to
is s
tZ_ E ^
15%
TO
20 %
20%
to
25 %
K&M !
2 5% AND OVER
CO
VO
40
FEDERAL DEPOSIT INSURANCE CORPORATION
Factors in the growth of deposits and assets. The growth of
deposits and of assets of insured banks in 1935 was the net result of the
operation of various factors, some of which tended to increase, some
to decrease, deposits and assets. The chief factors tending to increase
deposits and assets were: (1) imports of gold and monetization of gold
and silver bullion aggregating $2.3 billion; (2) purchases by insured banks
of United States obligations to the extent of $2.2 billion in excess of
sales and maturities, excluding retirement of bonds pledged by banks to
secure national bank notes; (3) the making of new loans and discounts,
and purchases by insured banks of securities other than obligations of
the United States Government, amounting to $1.1 billion in excess of
those paid off, sold and retired; and (4) an increase in domestic inter-bank
obligations amounting to $1.1 billion. The effects of the foregoing factors
were partly offset by: (1) the use by banks of $0.6 billion from their
earnings to write-off loans and securities considered to be worthless; (2)
withdrawal of $0.2 billion of cash by the public; (3) withdrawal by the
United States Treasury of $0.4 billion of currency for retirement; and
(4) a decrease of $0.3 billion in miscellaneous assets.
In addition to the changes enumerated above, the assets of the banks
were reduced by $0.7 billion as a result of the retirement of United States
Government bonds pledged to secure national bank notes. The liability
of the banks for these notes was assumed by the United States Treasury.
APPRAISAL OF ASSETS OF INSURED COMMERCIAL BANKS NOT
MEMBERS OF THE FEDERAL RESERVE SYSTEM
The condition of insured banks is dependent not only upon the volume
of assets held by the banks but also upon the character and quality of
such assets. The change in bank assets which occurred during 1935 was
of a type which lessened the average risks of depreciation. The assets
acquired during the year—chiefly cash, balances with other banks, and
United States Government obligations—are subject, under the present
banking structure, to less risk of depreciation in value than are other types
of assets. Furthermore, in the case of insured banks not members of the
Federal Reserve System, the percentage of assets classed by examiners
as worthless or doubtful, was reduced below the amounts so classified in
1934. The reduction was accomplished chiefly through write-offs and
through increases in the appraised value of such assets.
Worthless and doubtful assets. Only banks not members of the
Federal Reserve System are examined by the Federal Deposit Insurance
Corporation; and data regarding the proportion of bank assets which are
worthless or doubtful, or are of substandard quality, have been compiled
only for these banks.
Assets classified by examiners as worthless or of doubtful value amounted
to $306 million. Assets not shown on the books amounted to $40 million.
The net worthless and doubtful items thus amounted to $266 million, or
4 percent of total assets. In 1934 the net worthless or doubtful items
amounted to 6 percent of total assets.
41
CAPITAL OF INSURED COMMERCIAL BANKS
Large banks appear to have larger proportions of worthless and doubtful
assets than do small banks. In Table 10 banks not members of the
Federal Reserve System are grouped by size, and the percentages of
assets classified by examiners as worthless and doubtful are shown for
the banks in each size group.
T a b le 10.
of
WORTHLESS AND DOUBTFUL ASSETS OF INSURED BANKS NOT MEMBERS
t h e F e d e r a l R e s e r v e S y s te m a t T im e o f E x a m i n a t i o n i n 1935
B AN K S GROUPED B Y AM OUNT OF DEPOSITS
(Assets in millions of dollars)
N um ber
of
banks
Total
assets,
book
value
Percent o f
total assets
classified as
worthless or
doubtful1
A ll b a n k s .........................................
7,734
6,471
4.1
B a n k s w ith d e p o sits o f—
$100,000 and under............
$100,000 to $25 0 ,0 0 0 ..........
$250,000 to $ 5 00 ,00 0..........
$500,000 to $7 5 0 ,0 0 0 ..........
$750,000 to $1,000,000 . . .
$1,000,000 to $ 2 ,0 0 0 ,0 0 0 ..
$2,000,000 to $5,000,000 .
$5,000,000 to $50,000,000
Over $ 5 0 ,0 0 0 ,0 0 0 .................
N o t classified2......................
930
2,469
1,959
778
446
671
322
128
4
27
86
492
768
529
427
1,054
1,064
1,630
413
8
4 .6
2.4
2.3
2.6
2.8
4.0
4.9
5.6
4 .8
6.4
1T o ta l worthless and dou b tfu l assets, less sound value o f assets not shown on books,
in c lu d e s chiefly banks reorganized subsequent to latest exam ination.
CAPITAL OF INSURED COMMERCIAL BANKS
Total capital account. Total capital account includes capital stock,
capital notes and debentures, surplus, undivided profits, and capital reserves.
At the close of 1935, the total capital account of insured commercial banks
amounted to $6 billion, or 12 percent of total assets, as compared with
13 percent of total assets at the close of 1934. The decline in the ratio
of total capital account to assets was due to the fact that assets increased
rapidly during the year, while there was little change' in total capital
account. Total capital account increased during 1935 by $58 million, or
less than 1 percent. Changes are summarized in Table 11.
T a b le 11.
CHANGES IN TOTAL CAPITAL ACCOUNT OF INSURED
C o m m e r c ia l B a n k s D u r in g 1935
Am ount
(in millions
of dollars)
D e c e m b e r 31, 1 9 3 5 ...............................................................................................................................................
6,210
D e c e m b e r 31, 193 4 ...............................................................................................................................................
N e t c h a n g e ................................................................................................................... ..........................................
Banks admitted to insurance (including new banks opened for b u s in e s s )...........................
Banks withdrawing or discontinuing business.....................................................................................
Change in banks insured at beginning and end of y e a r ..................................................................
R F C cap ital.....................................................................................................................................................
Other cap ital..............................................................................................
.........................................
Deficit after dividends................................................................................................................................
6 ,152
+58
+18
—28
+68
+46
+23
—1
42
FEDERAL DEPOSIT INSURANCE CORPORATION
Net sound capital of banks not members of the Federal Reserve
System. The net sound capital of a bank is obtained by deducting from
total capital account the book value of assets classified by examiners as
worthless or of doubtful value and adding the determinable sound banking
value of assets not shown on the books of the banks and unrealized
appreciation of securities. Data summarizing the soundness of capital
accounts have been compiled only for those banks examined by the
Federal Deposit Insurance Corporation.
The net sound capital of insured commercial banks not members of the
Federal Reserve System, at the time of examinations in 1935, amounted
to $900 million, or 77 percent of total capital account, a substantial
improvement from the time of examinations in 1934 when net sound
capital amounted to only $800 million, or 67 percent of total capital
account.
The growth in net sound capital, at a time when there was practically
no change in total capital account, was due to the fact that net earnings
from current operations, recoveries on assets previously written off and
profits on securities sold were used to write off $129 million of depreciated
assets and of assets classified as worthless or of doubtful value. The
assets written off amounted to 12 percent of the total capital account of
the banks.
Relation of net sound capital to net sound assets and to deposits.
The ratio of net sound capital to net sound assets indicates what per
centage of depreciation in the value of assets, other than assets already
classified by examiners as worthless or of doubtful value, would wipe out
the equity of stockholders and leave depositors, other creditors, and the
Federal Deposit Insurance Corporation without protection against further
asset depreciation. Between examinations in 1934 and those in 1935 net
sound capital of insured banks not members of the Federal Reserve
System increased from 13.5 to 14.0 percent of net sound assets, while the
ratio of net sound capital to deposits rose from 15.8 percent to 16.6 percent.
T a b le 12.
N u m b e r OF INSURED COMMERCIAL BANKS NOT MEMBERS
of th e
to
F e d e r a l R e s e r v e S y s t e m G r o u p e d A c c o r d in g
R a t i o o f N e t S o u n d C a p i t a l t o D e p o s it s ,
latest
e x a m in a t io n
in
1935
N um ber of Percent of
banks
all banks
A ll b a n k s ......................................................................................................................................
7,731
100.0
Banks without net sound cap ital..................................................................................
35
.5
Banks with ratio of net sound capital to deposits of—0 to 5 p e r c e n t ....................................................................................................................
5 to 10 percent...................................................................................................................
10 to 15 percent.................................................................................................................
15 to 20 percent.................................................................................................................
20 to 25 percent.................................................................................................................
25 percent or m o re ...........................................................................................................
126
839
1,838
1,654
1,176
2,063
1.6
10.8
23.8
21.4
15.2
26.7
43
CAPITAL OF INSURED COMMERCIAL BANKS
Eighty-seven percent of the banks had net sound capital amounting to
more than 10 percent of deposits. About 24 percent of the banks had net
sound capital amounting to between 10 and 15 percent of their deposits,
and 63 percent of the banks had net sound capital in excess of L5 percent.
The figures are shown in Table 12.
In 1935, as in 1934, 13 percent of the banks had a net sound capital
amounting to less than 10 percent of their deposits. Banks with net
sound capital amounting to less than 5 percent of their deposits and
banks without net sound capital comprised 2 percent of all banks in 1935
as compared with 2.5 percent in 1934 and nearly 20 percent in 1933.
The figures are shown in Table 13.
T a b le 13.
INSURED COMMERCIAL BANKS NOT MEMBERS OF THE
F ederal
R a t io
R eserve
of
N et
Sy st e m
Sound
e x a m in a t io n s
in
G rouped
C a p it a l
1933, 1934
A c c o r d in g
to
to
D e p o s it s ,
and
1935
Percentage distribution of
number of banks
1935
1933
1934
A ll b a n k s ...............................................................................................................
100.0
100.0
100.0
Banks without net sound cap ital..........................................................
.5
.6
10.0
Banks with ratio of net sound capital to deposits of—
0 to 5 percent..............................................................................................
5 to 10 percent...........................................................................................
Over 10 percent.........................................................................................
1.6
10.9
87.0
1.9
10.5
87.0
9.6
14.9
65.5
Capital supplied by the Reconstruction Finance Corporation.
During 1935 the amount of capital obligations of insured commercial
banks held by the Reconstruction Finance Corporation increased from
$821 million to $867 million. At the end of the year the bank capital
supplied by that Corporation was 14 percent of the total capital account
of all insured banks, as compared with 13 percent at the end of 1934,
and 26 percent of the total par value of their capital stock, notes, and
debentures, as compared with 24.5 percent. The Reconstruction Finance
Corporation held capital stock, notes, and debentures in 5,675 of the
14,125 insured banks on December 31, 1935.
In the case of insured banks not members of the Federal Reserve
System, capital obligations held by the Reconstruction Finance Corpora
tion amounted to 19.9 percent of book capital on December 31, 1935, as
compared with 18.7 percent on December 31, 1934. Such obligations
represented 23.5 percent of net sound capital of these banks in 1935, as
compared with 21.9 percent in 1934. Nearly half of the insured banks
not members of the Federal Reserve System reported capital funds
supplied by that Corporation. In these banks, one-half of the net sound
capital was supplied by the Reconstruction Finance Corporation and
one-half by private interests.
44
FEDERAL DEPOSIT INSURANCE CORPORATION
EARNINGS OF INSURED COMMERCIAL BANKS
Earnings from current operations. Total earnings of all insured
commercial banks in 1935 amounted to $1,483 million, 2 percent less than
in 1934, although total earning assets were 6 percent greater than in
1934. Operating expenses in 1935 amounted to $1,041 million, which was
also about 2 percent below such expenses in 1934.
Net earnings from current operations, before taking into account re
coveries on assets previously written off, profits on securities sold, and
deductions because of depreciation and worthless assets written off,
amounted to $442 million, practically the same as in 1934 and equivalent
to $0.93 for each $100 of total assets, and to a 7 percent return on total
capital account.
Net addition to profits. During 1935 all insured commercial banks
wrote off losses amounting to about $667 million. Recoveries on assets
previously written off and profits on sales of securities amounting to $432
million, together with net earnings from current operations, left the
banks net profits of $207 million. In 1934, when losses written off were
exceptionally large, the banks showed a deficit of $339 million. Net
profits in 1935 amounted to 3.3 percent on total capital account, or to
6 percent on the par value of capital stock, notes, and debentures.
Disposition o f net profits. Dividends declared were equivalent to
3.3 percent on total capital account, and to 6.2 percent on the par value
of capital stock, notes, and debentures.
Table 14.
EA R N IN G S , E x p e n s e s , AND D ISPO SITIO N OF PR O FITS,
Insured
C o m m e r c ia l
B anks,
1935
Am ounts per $100 o f—
Am ount
(in millions
of dollars)
Total
assets1
Total
capital
account2
To ta l earnings from current operations.................................................
T o ta l expenses of current operations.......................................................
1,483
1,041
$3.09
2.16
$24.98
16.77
N e t e a rn in g s f r o m cu r r e n t o p e r a t i o n s ..................................
442
.93
7.25
432
.94
7.27
874
1.87
14.52
Recoveries and profits on securities so ld ..............................................
N e t e a r n in g s p lu s reco v eries.........................................................
Losses and depreciation..................................................................................
667
1.44
11.16
N e t p r o fits ..................................................................................................
Interest on capital notes and debentures and dividends on pre
ferred and common stock..........................................................................
207
.43
3.34
207
.43
3.34
0
.00
.00
N e t a d d itio n to pro fits a fte r d iv id e n d s ..................................
1 T ota l assets include all assets shown in bank balance sheets, except securities borrow ed and cus
tom ers’ liab ility on accou n t of acceptan ces and bills sold with endorsem ent. Average total assets during
1935 are estim ated at $47,981 million.
2 Average total capital accou n t during 1935 is estim ated at $6,192 m illion.
45
EARNINGS OF INSURED COMMERCIAL BANKS
Cash dividends, including interest on capital notes and debentures,
approximately equalled net profits and amounted to $207 million, an
increase of about 10 percent over the amount of dividends paid in 1934.
Net earnings, recoveries and write-offs, and dividend payments together
had no appreciable net effect upon the book value of the banks’ total
capital account.
Table 14 shows the amounts of current earnings, recoveries and write
offs, and the disposition of net profits in 1935, together with the ratios of
these items to total assets and to total capital account.
Earnings by class o f bank. In Table 15, earnings, expenses, and
disposition of profits of insured commercial banks in 1934 and 1935 are
shown for each class of bank.
Total earnings and expenses were smaller in relation to total assets in
1935 than in 1934 for each class of bank. In national banks and in State
banks members of the Federal Reserve System the reduction in total
earnings was greater than the reduction in expenses and the amount of
net earnings from current operations per $100 of total assets declined.
From 1934 to 1935 insured commercial banks not members of the
Federal Reserve System showed an increase in net earnings on total
assets and in the later year showed a higher rate of net earnings than did
banks members of the Federal Reserve System. In 1934 the rate for
banks not members of the Federal Reserve System was lower than that
Table 15.
E A R N IN G S , E X P E N S E S , AND D ISPO SIT IO N OF PR O FITS, IN SU R E D
C o m m e r c ia l
B anks,
1934
and
1935
B Y CLASS OF B A N K
(Am ounts in millions of dollars)
Banks members F . R .
System
All insured
commercial
banks
N ational
Banks not
members F. R .
System
State
1935
1934
1935
1934
1935
1934
1935
1934
N um ber o f banks...........................................
14,110
14,124
5,386
5,462
1,001
980
7,723
7,682
Total earnings.................................................
Total expenses................................................
1,483
1,041
1,515
1,067
792
548
807
556
414
284
437
293
276
208
271
218
N e t ea rn in g s fr o m c u r r e n t o p e ra
tio n s ..........................................................
442
448
244
251
130
144
68
53
Recoveries and profits on sale o f securi
ties ...................................................................
Losses and depreciation.............................
432
667
292
1,079
240
326
167
571
136
212
87
302
56
129
38
206
N e t p r o fits ..................................................
207
339
158
153
54
71
5
115
Cash dividends declared.............................
207
188
113
92
74
82
20
14
527
45
245
20
153
25
129
N e t a d d itio n to pro fits a fte r d iv i
de n d s ........................................................
NOTE:
Italics indicate deficit or d edu ction from profits.
46
FEDERAL DEPOSIT INSURANCE CORPORATION
for banks members of the System. In relation to total capital account
the rate of net earnings from current operations was highest in national
banks and lowest in insured banks not members of the Federal Reserve
System, due chiefly to the fact that the ratio of total capital account to
total assets was lowest in national banks and highest in insured banks
not members of the Federal Reserve System. After recoveries and
write-offs national banks and State banks members of the Federal Reserve
System showed a net profit while insured banks not members of the
Federal Reserve System showed a slight net deficit. Only national banks
as a group showed sufficient profits to cover dividends declared.
Earnings by size o f bank. Data regarding earnings in 1935 of
banks grouped by size are available for insured State banks, but not
for national banks. Figures of net earnings of these banks are shown
in Table 16.
T a b le 16.
N e t E a r n in g s P e r $100 o f T o t a l A s s e t s ,
I n s u r e d C o m m e r c ia l S t a t e B a n k s , 1934 a n d 1935
banks
o p e r a t in g
throughout
the ye ar
grouped
by am ount
Banks not m em
bers F. R . System
All banks
1935
o f d e p o s it s
1934
1935
1934
A ll b a n k s ......................................................................................
$0.89
$0.97
$1.07
$0.87
B a n k s w ith d e p o sits o f—
$100,000 and under..........................................................
$100,000 to $250,000 ......................................................
$250,000 to $ 5 00 ,00 0.......................................................
1.25
1.23
1.20
0.73
0.85
0 .86
1.25
1.23
1.21
0.73
0.85
0.85
$500,000 to $750 ,00 0.......................................................
$750,000 to $ 1 ,0 0 0 ,0 0 0 ...................................................
$1,000,000 to $ 2,000,000................................................
1.17
1.11
1.08
0.91
0.86
0.93
1.18
1.10
1.08
0.8 9
0.84
0.87
$2,000,000 to $5,000,000 ...............................................
$5,000,000 to $ 5 0 ,0 0 0 ,0 0 0 ............................................. j
Over $ 5 0 ,0 0 0 ,0 0 0 .............................................................. !
1.08
0.94
0.77
0.96
0.91
1.03
1.06
1.00
0.63
0.93
0.91
0 .78
In 1935, the rate of net earnings was higher in the small banks than in
the large banks; in 1934 the rate was lower in the small banks than in the
large banks. The table also shows that in 1935 net earnings on total
assets were higher in practically every size group of insured commercial
banks not members of the Federal Reserve System than in those of all
insured commercial State banks, which include banks both members and
not members of the Federal Reserve System. In 1934 the reverse was
true.
47
EARNINGS OF INSURED COMMERCIAL BANKS
Rates o f interest received and paid. Rates of interest received on
loans and on securities by insured commercial banks not members of
the Federal Reserve System were lower in 1935 than in 1934. Compiled
rates are shown in Table 17. The average rate of interest paid on time
deposits by these banks was reduced from about 2 ^ percent in 1934 to
about 2% percent in 1935.
T a b le 17.
and
RATES OP INTEREST RECEIVED ON LOANS AND ON SECURITIES
P a id
on
M em bers
T im e
of
the
D e p o s it s
F ederal
by
Insured
R eser ve
C o m m e r c ia l
Sy st e m ,
1934
B anks
and
not
1935
Rate in percent
1935
Interest received on loan s..............................................................................
Interest and dividends received on securities......................................
Interest paid on time deposits.....................................................................
5.75
3.51
2.28
1934
5.90
3.77
2.77
Change
-.1 5
- .2 6
- .4 9
Banks with net earnings compared with banks with net losses.
Of the insured commercial State banks operating throughout all of 1935,
8,080 reported net earnings and 407 net losses from current operations
during the year, before taking into account recoveries on assets previously
written off, profits on securities sold, and losses written off on depreciated
assets.
The banks reporting net losses from current operations showed higher
total earnings on each $100 of assets than did the banks reporting net
earnings. The portion of total earnings representing interest received on
loans was greater for banks showing net losses than for those with net
earnings, while income on securities was a more important source of
earnings for the latter group of banks than for those showing net losses.
Total expenses of current operations for banks reporting net losses were
almost twice as great for each $100 of total assets as was the case with
banks showing net earnings. Every classification of expenses of current
operations was higher in relation to total earnings for banks reporting
net losses than for banks reporting net earnings.
Recoveries and profits on securities sold bore about the same relation
to total assets for both groups of banks. Losses and depreciation of
assets, however, were substantially higher for banks reporting net losses
than for banks reporting net earnings. Significant figures are summarized
in Table 18.
48
FEDERAL DEPOSIT INSURANCE CORPORATION
T a b le 18.
EARNINGS, EXPENSES, AND DISPOSITION OF PROFITS, RATIOS,
Insured
C o m m e r c ia l
St at e
B anks,
1935
BANKS REPORTING NET EARNINGS COMPARED WITH BANKS REPORTING NET LOSSES
|
Banks
Banks
reporting
reporting
All banks net earnings net losses
from
from
operations operations
N um ber of banks................................................................................................
8,487
8,080
407
E a rn in g s fr o m c u r r e n t o p e r a t io n s :
Interest and discount on lo a n s...............................................................
Interest and dividends on securities....................................................
Collection and service charges, commissions, etc...........................
Other earnings................................................................................................
T o ta l ea rn in g s f r o m c u r r e n t o p e r a t io n s ..............................
$43.86
33.61
6.39
16.14
100.00
$43.77
33.73
6.34
16.16
100.00
$48.76
26.63
9 .06
15.55
100.00
E xpen ses o f c u r r e n t o p e r a tio n s :
Salaries and wages........................................................................................
Interest on deposits......................................................................................
T axes...................................................................................................................
Other expenses................................................................................................
T o ta l expenses o f c u r r e n t o p e r a t io n s ....................................
$28.69
18.28
5.28
19.06
71.31
$28.55
18.09
5.20
18.82
70.66
$36.97
28.90
10.03
32.45
108.35
N e t e a rn in g s f r o m c u r r e n t o p e r a t i o n s ..........................................
$28.69
$29.34
$5.55
Total earnings from current operations..................................................
T otal expenses of current operations.......................................................
N e t ea rn in g s fr o m c u r r e n t o p e r a t io n s ............................................
$ 3.11
2.22
.89
$ 3.11
2.20
.91
$3.51
3.80
.29
Recoveries, profits on securities, etc.........................................................
N e t ea rn in g s a n d r e c o v e r ie s...................................................................
.87
1.76
.87
1.78
.90
.61
Losses and depreciation o f assets..............................................................
N e t a d d itio n to pro fits fo r p e r io d .......................................................
1.53
.23
1.48
.30
5.12
4.51
Cash dividends declared..................................................................................
N et a d d itio n to pro fits a fte r d iv id e n d s...........................................
.43
.20
.43
.13
.06
4.57
A m o u n t s per $100 o f to t a l e a rn in g s
A m o u n t s per $100 o f to t a l a sse ts
NOTE:
Italics indicate deficit or dedu ction from profits.
MUTUAL SAVINGS BANKS
Changes in number and deposits of all mutual savings banks.1
On December 31,1935, there were 566 mutual savings banks operating in
the United States, a reduction of nine from the preceding year. Three
banks discontinued operations, seven were consolidated with other
mutual savings banks, and one bank previously operating under restric
tions was authorized to resume regular operations.
Deposits of mutual savings banks amounted to $9,877 million at the
close of the year, as compared with $9,742 million at the beginning of the
year, an increase of $135 million or 1.4 percent.
Mutual savings banks insured by the Federal Deposit Insurance
Corporation. Under the temporary Federal deposit insurance plan, as
amended in 1934, the deposits of mutual savings banks were insured in a
separate fund called the Fund for Mutuals. Upon inception of the per
manent plan, this fund and the fund for commercial banks were
consolidated.
1M utual savings banks are defined as banks w ithout capital stock transactin g a savings bank business,
the net earnings of w hich inure w holly to the benefit of their depositors after paym en t o f oblig ation s or
any advances by organizers.
The classification used in this discussion conform s with that ad op ted by
the Board o f G overn ors o f the Federal Reserve System except for one bank in California, classified by
the Board as a mutual savings bank, which is classified b y the Federal D eposit Insurance C orporation
as a com m ercial bank.
49
MUTUAL SAVINGS BANKS
At the beginning of 1935, 68 mutual savings banks with deposits of
$1,045 million were insured in the Fund for Mutuals. At the close of the
year, 56 mutual savings banks with deposits of $978 million were insured
under the permanent plan. Changes during the year in the number and
deposits of insured mutual savings banks are shown in Table 19.
T a b le 19.
CHANGES DURING 1935 IN THE NUMBER AND DEPOSITS OF
M u t u a l Sa v in g s B a n k s I n s u r e d b y t h e F e d e r a l
D e p o s it I n s u r a n c e C o r p o r a t io n
Number
Deposits
(in millions
of dollars)
D e c e m b e r 31, 1 9 3 5 ..................................................................................................................
D e c e m b e r 31, 1 9 3 4 ..................................................................................................................
56
68
978
1,045
N e t c h a n g e .............................................................................................................................
-1 2
-.6 7
Banks admitted to insurance.................................................................................
Banks withdrawing from insurance....................................................................
Banks consolidated with other insured b a n k s...............................................
Growth o f deposits in banks insured at end of y e a r..................................
+1
-8
-5
+1
-8 7
N ote:
+19
D eposits o f banks w ithdraw ing from insurance are as o f D ecem ber 31, 1934.
Changes in assets o f insured m utual savings banks. Total assets
of the 56 mutual savings banks insured at the close of 1935 increased during
the year from $1,083 million to $1,108 million. Approximately half of the
assets of these banks are in real estate mortgages. During 1935 the
amount of such mortgages decreased $25 million, or by 4.8 percent. This
change was due largely to foreclosures or other acquisitions of property on
which mortgages were held; real estate owned, other than banking house,
increased by $13 million. Holdings of cash and of obligations of the
United States Government increased.
Table 20 gives a comparative condensed consolidated balance sheet of
the 56 mutual savings banks insured at the close of 1935, and shows the
changes in assets and liabilities which occurred during the year.
Earnings and expenses o f insured m utual savings hanks. Total
earnings of the 56 insured mutual savings banks amounted to $43 million
during 1935. Of this amount, $20 million or nearly half, was interest
received on real estate mortgages; and $17 million was interest aftd divi
dends on securities. The average rate of return on real estate mortgages
was 4.2 percent in 1935, as compared with 4.4 percent in 1934, while the
average rate of earnings on securities dropped from 3.9 percent in 1934 to
3.7 percent in 1935.
Net profits, after payment of current operating expenses other than
interest or dividends on deposits and after allowances for losses and re
coveries, amounted to $28 million. Of these profits, $22 million were paid
to depositors as interest or dividends, and $6 million were added to capital
account.
50
FEDERAL DEPOSIT INSURANCE CORPORATION
T a b le 20.
ASSETS AND LIABILITIES OF 56 M UTUAL SAVINGS BANKS
I n su red
by
the
F ederal D
at
the
e p o s it
C lo se
I nsurance
C o r p o r a t io n
1935
of
(Am ounts in millions of dollars)
Amount
December
31, 1935
ASSETS
Real estate m ortgages.............................................................
Other loans and discounts.....................................................
United States Government obligations, direct and
fully guaranteed..................................................................... !
Other securities................................................... ....................... |
Cash and amounts due from b a n k s ..................................
Other assets..................................................................................
T o ta l a s s e t s ..................................................................
Change during 1935
December !
31, 1934 | Am ount
Percent1
481
8
506 !
9
-2 5
-1
- 4 .8
-1 2 .1
179
284
68
88
145
291 |
55 1
77
+34
-7
+13
+ 11
+ 2 3 .2
- 2 .1
+ 2 2 .7
+ 14.0
1,108
1,083
+25
+ 2 .4
Total deposits..............................................................................
Borrowed m o n e y ........................................................................ !
Other liabilities........................................................................... !
Total capital account...............................................................
978
1
3
126
959
2
3 i
119
+ 19
-1
+7
+ 2 .0
-2 8 .4
- .2
+ 6 .0
T o ta l lia b ilitie s a n d c a p ita l a c c o u n t .......... ;
1,108
1,083 j
+25
+ 2 .4
l ia b il it ie s
a n d
c a p it a l
C o m p u te d from am ounts in thousands of dollars.
In Table 21 the earnings and expenses during 1935 of the 56 mutual
savings banks insured at the close of the year are compared with the earn
ings and expenses in 1934 of 55 of these banks.
T a b le 21.
I nsured
EARNINGS AND EXPENSES OF MUTUAL SAVINGS BANKS
by
the
Federal D
at
the
e p o s it
C lose
I n s u r a n c e C o r p o r a t io n
of
1935
(Amounts in millions of dollars)
1935
(56 banks)
1934
(55 banks1)
Interest received on Veal estate m ortgages....................................................................
Interest and dividends received on securities..............................................................
Other current operating earnings.......................................................................................
20.1
17.2
5.4
22.3
17.1
4.1
T o ta l cu r r e n t o p e ra tin g e a r n in g s .....................................................................
42.7
4 3.5
Current operating expenses (excluding interest and dividends paid depositors)
13.1
12.5
N e t e a rn in g s fr o m c u rre n t o p e r a t io n s ..........................................................
29 .6
31.0
Recoveries from assets previously written off and profits on securities sold . . .
7.0
5.4
T o ta l n e t c u rre n t ea rn in g s a n d r e c o v e r ie s.................................................
36.6
3 6 .4
Losses and depreciation written o f f ..................................................................................
8.6
9.9
N e t pro fits av a ila ble fo r d is tr ib u tio n to d e p o sito rs a n d fo r a d
d itio n s to ca p ita l f u n d s ......................................................................................
28.0
26.5
Interest and dividends paid depositors...........................................................................
22.1
24.2
N e t profits added to c a p ita l f u n d s ...................................................................
5.9
2.3
f ig u r e s for one bank with deposits of $922,406 on D ecem ber 31, 1935, adm itted to insurance d uring
1935, are not available.
MUTUAL SAVINGS BANKS
51
Total capital account of insured m utual savings banks. Mutual
savings banks have no capital stock. However, these banks maintain
surplus and reserve accounts, built up chiefly of undistributed earnings.
The total capital account of the 56 mutual savings banks insured at the
close of the year increased during 1935 by $7 million or 6 percent. Six
million dollars were obtained from net profits not distributed to depositors,
and $1 million from the Reconstruction Finance Corporation. Total cap
ital funds, at the close of 1935, amounted to $126 million, which is 11 per
cent of total assets and 13 percent of deposits. This proportion of capital
funds to total assets and to deposits is approximately the same as in the
case of commercial banks.
At the close of 1935 the Reconstruction Finance Corporation held
capital notes and debentures of 25 insured mutual savings banks amount
ing to $14 million, or 11 percent of the total capital account of all mutua]
savings banks insured by the Federal Deposit Insurance Corporation.
PART THREE
RESEARCH REPORTS
MEMBERSHIP OF THE TEMPORARY FEDERAL DEPOSIT
INSURANCE FUNDS
The inauguration of the temporary Federal deposit insurance funds, and
their operations during 1934 are discussed in detail in the Annual Report of
the Federal Deposit Insurance Corporation for 1934. The termination of
these funds is discussed elsewhere in this report.1 The following discus
sion summarizes briefly the membership of these funds for the entire
period of their existence.
Establishment o f the Temporary Federal Deposit Insurance
Fund. The Federal Deposit Insurance Corporation was established by
the Banking Act of 1933 as a permanent agency for the insurance of bank
deposits. That Act was drafted immediately following the banking
crisis of that year. It was known that many banks could not at that time
meet the tests which should be established for permanent insurance. It
was desired, however, immediately to restore complete confidence of the
public in the safety of funds on deposit in banks.
Under these conditions provision was made for the establishment of a
temporary insurance fund to be put into effect as soon as possible and to
remain in operation during the period necessary for the establishment of
permanent insurance. The temporary fund was to go into effect January
1, 1934, or at such earlier date as the President of the United States might
direct by proclamation, and the permanent plan was to go into effect
July 1, 1934. The President did not use his power to advance the date of
opening of the temporary fund and the temporary plan went into effect
January 1, 1934.
All banks which were members of the Federal Reserve System and
which had been licensed by the Secretary of the Treasury under the Exective Order of the President issued March 10,1933, were required to become
insured in the Temporary Federal Deposit Insurance Fund. Any State
bank not a member of the Federal Reserve System, including any such
bank in the District of Columbia, was authorized to become insured in
this Fund upon meeting four conditions: (1) certification to the Federal
Deposit Insurance Corporation by the appropriate banking authority
that the bank was in solvent condition; (2) examination and approval
by the Corporation; (3) agreement to comply with the requirements of
the deposit insurance law; and (4) payment of the assessment required.
The deposits of each bank insured in the Temporary Federal Deposit
Insurance Fund were, in the event of closing on account of inability to
meet deposit liabilities, insured to a maximum of $2,500 on account of the
net approved claim of the owner of any deposit. This insurance was
made applicable only to deposits made available since March 10, 1933, for
withdrawal in the usual course of the banking business.
^ e e page 7.
55
56
FEDERAL DEPOSIT INSURANCE CORPORATION
To meet the cost of this insurance, each insured bank was assessed onehalf of 1 percent of the amount of deposits eligible for insurance, as re
ported on a certified statement submitted at the time of admission. Onehalf of this assessment was payable at the time of admission, the other
half upon call by the Board of Directors of the Corporation. The Corp
oration was also authorized to levy an additional assessment of one-half
of 1 percent, if necessary to meet its obligations on account of banks
closing during the period of operation of the temporary insurance plan.
Provision was also made for the refund to banks insured in the Tem
porary Federal Deposit Insurance Fund, on such basis as the Corporation
found to be equitable, of the estimated balance remaining in the Fund on
July 1, 1934, after providing for all liabilities of the Fund, including its
expenses of operation and estimated losses in suspended insured banks.1
Extension and revision of insurance under the temporary plan.
By an Act approved June 16, 1934, Congress extended the period of in
surance under the temporary plan to July 1, 1935, and amended the plan
in several respects.2 On June 28,1935, the operation of the temporary plan
was again extended for another two months, to cover the period until the
enactment of the Banking Act of 1935, then under consideration.3
The amendment of June 16, 1934, to the temporary insurance plan in
creased the insurance coverage from $2,500 to $5,000 for each depositor,
except in the case of mutual savings banks, which were permitted to select
either of these two limits. Insured banks were required to file another
certified statement of deposits as of October 1, 1934, and to adjust their
assessments in accordance with any increase in the amount of deposits
eligible for insurance.
The Corporation, in the discretion of the Board of Directors, was auth
orized to establish a separate fund for mutual savings banks. It was
provided that, in case such a fund were established, the Temporary
Federal Deposit Insurance Fund should not be subject to the liabilities of
the Fund for Mutuals, and that the Fund for Mutuals should not be sub
ject to the liabilities of the Temporary Federal Deposit Insurance Fund.
A separate Fund for Mutuals was established by the Board of Directors on
July 14, 1934, effective July 1, 1934.
Banks in the territories of Alaska, Hawaii, Puerto Rico, and the Virgin
Islands of the United States were made eligible for insurance. Insured
banks not members of the Federal Reserve System were permitted to
lrrhe text o f the original deposit insurance law enacted June 16, 1933, is given in the Annual Report
of the Federal Deposit Insurance Corporation, 1934, pages 117-27. The provisions regarding the
T em porary Federal D eposit Insurance Fund are contained in subsection (y ), pages 126-27, o f that R e p o rt.
2The text o f the A c t extending and am ending the tem porary insurance plan is given in the Annual
Report of the Federal Deposit Insurance Corporation, 1934, pages 128-30.
8T h e text o f the resolution extending the operation o f the tem porary insurance plan until the effective
date o f the Banking A ct o f 1935 is given on page 67.
MEMBERSHIP OF THE TEMPORARY FUNDS
57
terminate their insurance in the Temporary Federal Deposit Insurance
Fund on July 1, 1934, provided such banks gave notice to the Corporation
at least ten days prior to July 1, 1934, of their intention to withdraw on
that date. Provision was made for the refunding to such withdrawing
banks of their proportionate share in the balance in the Fund on that date.
Insured banks were required to display a sign or signs to the effect that
their deposits were insured by the Federal Deposit Insurance Corporation.
Termination of the temporary Federal deposit insurance funds.
The Banking Act of 1935, which became effective August 23, 1935, pro
vided for the immediate termination of the temporary plan of insurance of
bank deposits. By this Act the Temporary Federal Deposit Insurance
Fund and the Fund for Mutuals were terminated, and all banks insured in
either of these funds, with the exceptions noted below, became insured
under the revised permanent insurance plan.1 Any bank not a member
of the Federal Reserve System which had failed to file a certified statement
of its deposits on October 1,1934, and to pay the required assessment, and
any bank which had permanently discontinued banking operations prior
to the effective date of the Banking Act of 1935 ceased to be an insured
bank on August 31,1935. Any insured bank not a member of the Federal
Reserve System was permitted to withdraw from insurance if within 30
days after the effective date of the Act it notified the Corporation of its
election not to continue as an insured bank. The deposits of banks with
drawing under this provision were insured for 50 days beyond the effective
date of the Banking Act of 1935, or until October 12,1935.
Banks insured at the opening of the Temporary Federal Deposit
Insurance Fund. The Temporary Federal Deposit Insurance Fund was
opened on January 1, 1934, with 13,201 banks insured or approved for in
surance therein. Of these banks, 6,009 were members of the Federal
Reserve System in operation and licensed under the provisions of the
Executive Order of the President, issued March 10, 1933, and 7,192 were
State banks not members of the Federal Reserve System.2 Remittances
had not been received on January 1, 1934, from about 460 of the banks not
members of the Federal Reserve System then approved for insurance,
and these banks became insured later.3
The banks which were members of the Federal Reserve System, together
with those not members of the Federal Reserve System which were ap
*The Board of D irectors determ ined that the T em p orary Federal D eposit Insurance Fund and the Fund
for M utuals term inated at the close o f business A u gust 22, 1935.
20 f the banks m em bers o f the Federal R eserve System , 5,153 were national banks and 856 were
State banks. These num bers differ slightly from those reported b y the office o f the C om ptroller o f the
Currency, and the Board o f G overn ors o f the Federal R eserve System for D ecem ber 30, 1933, due to
several successions and absorptions which to o k place on D ecem ber 30 and 31.
3Figures regarding num ber o f banks insured in the T em p ora ry Federal D ep osit Insurance Fund
have been revised since pu b lication o f the Annual Report of the Federal Deposit Insurance
Corporation, 1934.
'
58
FEDERAL DEPOSIT INSURANCE CORPORATION
proved for insurance by January 1, 1934, totaling 13,202, included 90
percent of all commercial banks, and 36 percent of the mutual savings
banks, licensed under the Executive Order of March 10, 1933. About
1,600 licensed commercial banks and 363 mutual savings banks had not
made application for admission to insurance, or had not been approved
for insurance by the Corporation.
Banks admitted to insurance, January 2, 1934, to close of tem
porary funds. During the period of operation of the temporary funds
1,718 commercial banks and 24 mutual savings banks were admitted to
insurance.
These banks were distributed as follows:
Commercial banks— total...........................................................................
Banks licensed and in operation on January 1, 1934....................
Successions to, or consolidations of, banks operating January 1,
1 9 3 4 . . . . . ..................................................................................................
Reorganizations of, or successors to, banks in conservatorship,
or operating under restrictions, or in receivership or liquidation
Banks succeeding other insured banks, new banks organized in
connection with consolidation of insured banks2.................. ..
Banks withdrawing from Federal Reserve System and read
mitted to insurance as banks not members of the Federal
Reserve System .......................................................................................
Reinstatement of insured bank which reopened after suspending
New banks, without direct predecessors, opened after January
1, 1934.........................................................................................................
Banks in Alaska and Hawaii, not included above...........................
1,719
368
30
1,062
108
6
1
141
3
Mutual savings banks— total....................................................................
24
Banks operating January 1, 1934.........................................................
Reorganization of bank operating under restrictions January
1 ,1 9 3 4 .........................................................................................................
New bank without direct predecessor opened after January
1, 1934.........................................................................................................
21
2
1
The 1,719 commercial banks admitted included 482 national banks,
automatically admitted to insurance when authorized by the Comptroller
of the Currency to begin operations, and 45 State banks automatically
admitted to insurance when they became members of the Federal Reserve
System. The remaining 1,192 were banks not members of the Federal
Reserve System which were examined and approved for insurance by the
Federal Deposit Insurance Corporation.
Table 22 shows how many of these banks were admitted in 1934 and
how many in 1935, and also gives further details regarding their class
ification.
1This figure does not include the banks not m em bers o f the Federal R eserve System w hich were
app roved for insurance in 1933, but whose assessment rem ittances were not received until after the Fund
opened on January 1, 1934.
in c lu d e s five banks form ed b y consolidations o f insured banks, w hich operated for a tim e w ithout
insurance, and were later adm itted to jn su ra n c e .
59
MEMBERSHIP OF THE TEMPORARY FUNDS
Table 22.
from
CLASSIFICATION OF BANKS ADMITTED TO INSURANCE
J a n u a r y 2, 1934, t o t h e C l o s e o f t h e T e m p o r a r y F u n d s
B y class o f ban k
Total
admis
sions
to
tem
porary
fund
T o ta l a d m i s s i o n s ..........................................................
A d m is s io n s n o t d ire c tly o ffset by te r
m in a tio n s .....................................................................
Banks operating January 1, 1 9 3 4 ...................
Banks succeeding, or consolidations of,
banks operating January 1, 1 9 3 4 ...............
Reorganizations of, or successions to, banks
in conservatorship or operating under re
strictions January 1, 19341 ............................
Reorganizations of, or successions to, banks
in receivership or liquidation January 1,
19342.........................................................................
New banks without predecessors opened
after January 1, 1 9 3 4 .......................................
Banks in Alaska and Hawaii not included
above........................................................................
A d m is s io n s direc tly o ffset by te r m in a tio n s
Successions to other banks in same class. . .
Successions to other insured banks not in
same class..............................................................
New banks organized in connection with
consolidations.......................................................
Banks withdrawing from the Federal R e
serve System and admitted to insurance
as nonmembers...................................................
Reinstatement o f insured bank which had
_______ suspended................. .............................................
N o t members
Federal
Reserve
System
Members
Federal
Reserve
System
B y years
N a
tional
State
C om
mer
cial
M u
tual
sav
ings
1935
1934
1,743
227
1,517
482
45
1,192
24
1,628
389
197
58
1,431
331
401
41
1,162
360
24
8
30
6
24
8
1
21
68
921
339
25
623
989
75
15
60
13
5
57
142
49
93
41
2
98
3
1
2
115
58
30
13
85
45
81
43
36
8
28
30
14
5
9
8
6
3
3
1
1
21
3
4
2
30
13
s2
4
6
6
1
in c lu d e s 1 bank licensed and in operation January 1, 1934, and subsequently placed in conservatorship.
2Includes 2 banks successors to banks which closed after January 1, 1934.
in c lu d e s one State m em ber bank form ed by con solida tion of four national banks.
2
1
60
FEDERAL DEPOSIT INSURANCE CORPORATION
Banks terminating insurance during or at the close of the tem
porary funds. During the period of the temporary funds 725 insured
banks discontinued operations, merged with other banks, or withdrew
from insurance. This figure includes the banks which withdrew from
insurance at the close of the temporary funds. These terminations were
distributed as follows:
Commercial banks— total...........................................................................
Withdrawals July 1, 1934........................................................................
Withdrawals at close of temporary funds.........................................
Withdrawals from the Federal Reserve System without con
tinuance of insurance............................................................................
Suspensions (including one bank later reopened and reinstated
to insurance)............................................................................................
Net reduction on account of consolidations with other insured
banks...........................................................................................................
Insured banks succeeded by noninsured banks, or consolidating
with or to form noninsured banks...................................................
Banks succeeded by other insured banks (including cases where
new charters were issued in connection with consolidations). .
Banks withdrawing from Federal Reserve System (readmitted
to insurance as banks not members of the Federal Reserve
System).......................................................................................................
Other banks liquidating or discontinuing banking operations...
Mutual savings banks— to ta l.....................................................................
Withdrawals July 1, 1934........................................................................
Withdrawals at close of temporary funds.........................................
Net reduction on account of consolidation with other insured
banks..............*...........................................................................................
543
21
26
1
25
260
20
108
6
76
182
169
8
5
The commercial banks terminating insurance included 216 national
banks, 40 State banks members of the Federal Reserve System, and 287
banks not members of the Federal Reserve System.
Table 23 shows how many terminations occurred during 1934 and how
many during 1935, and also gives further details regarding their class
ification.
Banks transferred to permanent insurance. The permanent in
surance plan went into effect on August 23, 1935, with 14,219 operating
banks insured under its provisions. Table 24 gives a brief summary of the
number of banks insured at the beginning of the temporary plan and at
the beginning of insurance under the permanent plan.
Operating banks insured in the temporary insurance funds by
States. Table 25 shows the number of banks insured in each State at the
beginning of the temporary insurance plan and at the beginning of the
permanent plan.
61
MEMBERSHIP OF THE TEMPORARY FUNDS
T a b le 23.
CLASSIFICATION OF BANKS TERMINATING INSURANCE
D u r in g o r a t t h e C l o s e o f t h e T e m p o r a r y F u n d s
B y class o f bank
Total
termi
nat
ions
N o t Members
Federal
Reserve
System
Members
Federal
Reserve
System
B y years
C om
mer
cial
M u
tual
sav
ings
216
287
185
159
250
47
182
177
N a
tional State
T o ta l t e r m i n a t i o n s .
T e r m in a t io n s n o t d irec tly o ffset by a d
m issio n s .....................................................................
Withdrawals from insurance.............................
Suspensions (excluding one reopened)..........
Consolidations with other insured banks—
net reduction........................................................
Insured banks consolidating with or to form
noninsured banks, or succeeded by non
insured banks.......................................................
Other banks liquidating or discontinuing
banking operations............................................
T e r m in a t io n s d irec tly offset by a d m is s io n s
Successions by another bank in same class.
Successions by other insured banks not in
same class..............................................................
Outgoing banks (in addition to net re
duction) in consolidations with nevy
charters...................................................................
Banks withdrawing from Federal Reserve
System and readmitted to insurance as
nonmembers..........................................................
Suspended bank which was reopened and
reinstated..................................... ..........................
1935
1934
725
225
500
610
225
24
395
34
15
415
191
9
265
95
170
115
58
'
" 4
113
20
13
134
11
9
14
6
40
36
28
43
57
43
30
13
21
3
12
19
19
1 Includes four national banks consolidated to form a State ban k m em ber of the Federal Reserve
System.
T a b le 24.
OPERATING BANKS INSURED AT THE BEGINNING OF THE
T e m p o r a r y F e d e r a l D e p o s it I n s u r a n c e P l a n a n d a t t h e
B e g in n in g o f t h e P e r m a n e n t P l a n
A ll in su red b a n k s ...........................................................................................
Members Federal Reserve System :
N a tio n a l.......................................................................................................
State ...............................................................................................................
N o t members Federal Reserve System :
Com m ercial.................................................................................................
M utual savings b a n k s...........................................................................
Number
insured
January 1,
19341
Number
insured
August 23,
19352
13,201
14,219
+ 1 ,0 1 8
5,153
856
5,419
990
+266
+ 3134
6,978
214
47,754
+ 3776
-1 5 8
56
N et
change
1 Includes abou t 460 banks not m embers o f the Federal Reserve System from w hich assessment
rem ittances were not received until after January 1, 1934.
2 Excludes banks which w ithdrew at the close of the tem porary fund.
D eposits in one of the w ith
drawing banks were insured until August 30, 1935, and in the others until O ctober 12, 1935.
3 M akes allowance for 129 insured banks adm itted to m embership in the Federal Reserve System .
4 Includes tw o national banks in Alaska not m embers of the Federal Reserve System .
62
FEDERAL DEPOSIT INSURANCE CORPORATION
T a b le 25.
of
the
NUMBER OF OPERATING BANKS INSURED AT THE BEGINNING
T e m p o r a r y F e d e r a l D e p o s it I n s u r a n c e P l a n
B e g in n in g of t h e P e r m a n e n t P l a n
and
at
the
B Y STATES AND POSSESSIONS
January 1, 1934
August 23, 1935
N o t members
Federal
Reserve
System
M em bers
Federal
Reserve
System
Members
Federal
Reserve
System
N o t members
Federal
Reserve
System
N a -, State
tional
C om mer- Mutual
cial savings
N a - |State
tional j
C om
mer
cial
U. S. a n d p o ssessio n s— T o t a l .
5,153
856
6,978
5.419
990
7,754
S t a t e s — t o t a l ..............................
5,153
856
6,978
5.419
990
7,751
69
17
4
111
69
7
51
124
81
18
3
7
16
5
120
6
45
25
A la b a m a . .
A rizona. . .
Arkansas. .
C alifornia.
Colorado . .
8
46
134
74
C onnecticut...................
D elaw are.......................
District of Columbia.
Florida............................
G eorgia...........................
54
15
9
46
50
Idaho. . .
Illinois . .
Ind ian a.
Iow a. . .
Kansas .
25 !
263
113
106
195
K en tu c k y ..........
Louisiana...........
M a in e .................
M a ry la n d ..........
Massachusetts .
92
26
40
59
133 |
Michigan. . .
M innesota. .
M ississippi.
M issou ri. . .
M ontana . .
70
205 !
24
|
|
|
86
47
N ebraska.......................................................j I 128
128
N e v a d a ................................................
!
7
New Hampshire........................................ :
52
New Jersey.................................................. j 1 225
225
New M e x ic o ......................................
!
25
N ew Y o rk ...........................................
North Cai-olina.................................
N orth D a k o ta ..................................
O hio.......................................................
O klahom a...........................................
|
|
|
!
443
40
10
12
4
10
3
26
87
175
8
22
11
25
504
317
298
142
24
295
125
120
191
6
64
5
6
25
16
|
7
275
100
112
17
100
51
30 |
40
63
129
57
13
3
44
17
207
425
173
424
58
85
205
25
87
46 [
7
137 !
2
180
3
4
96
14
106
200
10
171
125
344
169
52
68
51
642
4
Tennessee.
T exas..........
U t a h ...........
V e rm o n t. .
V irginia. . .
10
6
6
22
1
1
42
262
6
52 1
237
23
135
286
114
16
111
40
20
278
426
171
508
52
1
230
3
3
88
15
3
51
251
215
190
181
125
367
173
50
709 |
43
302
10
66 i
20
58
127
69
445
14
40
129
4
49
17
235
307
29
73 |
456 !
23
159
132
67
70
91
25
25
15
91
71
364
30
67
79 j
106
26 :
12 !
20
|
58 |
I
13 j
43
7
10
31
24
503
368
434
247
119
459
44
16
63
12
6
11
93
174
102
68
2
4
9
4
5
156
106
55
53
3
10
2
4
2
3
25
64
3
Oregon................
P ennsylvania. .
Rhode Island . .
South Carolina.
South D a k o t a ..
A la sk a .
Hawaii.
54 !
16 |
9 :
51
57
48
24
2
51
P o sse ssio n s—- t o t a l .
3
139
115
55
4
227
217
W ash in gton . .
W est Virginia.
W isconsin. . . .
W y o m in g . . . .
214
:
14
2
87
123
238
305
27
33
166
93
72
479
25
56
63
MEMBERSHIP OF THE TEMPORARY FUNDS
Suspensions o f banks insured in the temporary funds. During
the period of operation of the temporary funds 25 insured banks suspended.
One of these was reopened with no payments made to depositors by the
Federal Deposit Insurance Corporation. The deposits in the 24 suspend
ed banks placed in receivership amounted to $5,500,000, of which 25
percent were protected by offset, security or preferment, and an additional
68 percent were protected by insurance. Only 7 percent of the de
posits were uninsured, unsecured, not preferred,or not subject to offset and
thus only protected by general claims against the assets of the banks.
The total number of depositors in these 24 banks was 34,601, of whom
all but 63 were fully protected by insurance, or by offset, security, or pre
ferment. By the end of December 31, 1935, the claims of 80 percent of
these depositors had been paid or settled.
The deposits paid by the Corporation up toDecember 31,1935, amounted
to $3,500,000. An additional $230,000 due depositors from the Corpora
tion was unpaid on account of failure of the depositors to file or prove
their claims.
Further details regarding the deposits and depositors in these banks
are given in Table 26.
Table 26.
S u spen ded
D EP O SIT O R S’
D u r in g
th e
C LA IM S A G A IN S T
P e r io d
F e d e r a l D e p o sit
of
24
IN SU R E D B A N K S W H IC H
O p e r a tio n
In su ra n ce
of
th e
T em porary
Funds
T otal
Paid by N o t paid by
December December
31, 19351 31, 1935
T o ta l d e p o s i t s ................................................................................................... $5,487,791
$4,736,792
$750,999
P ro tected by in su r a n c e , s e c u r ity , p r e fe r m e n t or o f f s e t ..
Insured 2 ........................................................................................................
Secured or preferred................................................................................
Subject to offset.........................................................................................
5,102,675
3,773,401
988,491
340.783
4 ,682,491
3 ,542,632
853,602
286,257
420,184
230,769
134,889
54,526
N o t p ro te cted by in su r a n c e .s e c u r it y ,p r e fe r m e n t ,o r o ffset
385,116
54,301
330,815
T o ta l n u m b e r o f d e p o s it o r s ...................................................................
34,601
327,778
6,823
Fu lly protected by insurance or otherwise..................................
Partially protected..................................................................................
3 4,538
63
1 Includes paym ents made both by the Federal D eposit Insurance C orporation and b y receivers.
2 E xcluding deposits protected by security, preferm ent, or offset.
8 Of these 2,296 were paid by offsets.
By December 31, 1935, the Federal Deposit Insurance Corporation had
received $528,533 from the receivers or liquidators of these banks. It is
expected that about 65 percent of the amount paid by the Corporation
to insured depositors will be recovered upon completion of liquidation
of the assets of the suspended banks.
64
FEDERAL DEPOSIT INSURANCE CORPORATION
Amount of deposits insured at the beginning and at the close of
the temporary insurance funds. Precise information is not available
as to the volume of deposits protected by insurance either at the beginning
or at the close of the temporary insurance funds. It is estimated,
however, that on January 1, 1934, insured deposits in commercial banks
amounted approximately to $11 billion and uninsured deposits in insured
banks to $20 billion. It is estimated that at the close of the temporary
funds insured deposits amounted approximately to $17 billion and
uninsured deposits in insured commercial banks to $24 billion. About
half of the growth in insured deposits resulted from the change in coverage
from $2,500 to $5,000 for each depositor and from the admission of banks
to insurance. The other half was chiefly the result of the growth in the
total volume of deposits. The growth in uninsured deposits was almost
wholly due to the growth in the total volume of deposits.
PART FOUR
LEGISLATION, REGULATIONS, AND INSTRUCTIONS
DEPOSIT INSURANCE LEGISLATION
E X T E N S IO N OF T H E T E M P O R A R Y FU N DS
[P u b l ic R e s o l u t io n — N o. 38— 74 th C o n g r e s s ]
[S. J. R e s . 152]
JO IN T r e s o l u t i o n
T o extend to A u gu st 31, 1935, the tem porary plan for deposit insurance p rovid ed fo r b y Section
12B of the Federal R eserve A ct, as am ended.
R e so l v e d b y t h e S e n a t e a n d H o u s e of R e p r e s e n t a t iv e s of t h e U n it e d
St a t e s of A m e r ic a in C o n g r e ss a s s e m b l e d , T h at Section 12B of the Federal
Reserve A c t, as amended, is amended (1) b y striking “ July 1, 1 935” wherever it
appears in subsections (e), (1) and (y ), and inserting in lieu thereof “ A ugust 31,
1935” ; and (2) b y striking “ June 30, 1935” where it appears in the first sentence
of the eighth paragraph of subsection (y ) and inserting in lieu thereof “ A ugust 31,
1935” ; and (3) b y adding to subsection (y ) the following additional paragraph:
“ The deposits in banks which are on June 30, 1935, members of the fund or the
fund for m utuals shall continue to be insured during such extended period to August
31, 1935, w ithout liability on the part of such banks to further calls or assessment.”
Approved, June 28, 1935.
67
68
FEDERAL DEPOSIT INSURANCE CORPORATION
S E C T I O N 12B O F T H E F E D E R A L R E S E R V E A C T A S
A M E N D E D B Y T I T L E I O F T H E B A N K I N G A C T O F 1935
[P u b lic —
No.
305— 7 4 th C o n g re ss]
[H. R. 7617]
S e c tio n 101. Section 12B of the Federal Reserve Act, as amended (U. S. C.,
Supp. V II, title 12, sec. 264), is amended to read as follows:
Federal Deposit Insurance Corporation created
S ec . 12B.
(a) There is hereby created a Federal Deposit Insurance Corporation
(hereinafter referred to as the “ Corporation” ) which shall insure, as hereinafter
provided, the deposits of all banks which are entitled to the benefits of insurance
under this section, and which shall have the powers hereinafter granted.
Management of the Corporation
(b) The management of the Corporation shall be vested in a board of directors
consisting of three members, one of whom shall be the Comptroller of the Currency,
and two of whom shall be citizens of the United States to be appointed by the
President, by and with the advice and consent of the Senate. One of the appointive
members shall be the chairman of the board of directors of the Corporation and not
more than two of the members of such board of directors shall be members of the
same political party. Each such appointive member shall hold office for a term of
six years and shall receive compensation at the rate of $10,000 per annum, payable
monthly out of the funds of the Corporation, but the Comptroller of the Currency
shall not receive additional compensation for his services as such member. In the
event of a vacancy in the office of the Comptroller of the Currency, and pending
the appointment of his successor, or during the absence of the Comptroller from
Washington, the Acting Comptroller of the Currency shall be a member of the
board of directors in the place and stead of the Comptroller. In the event of a
vacancy in the office of the chairman of the board of directors, and pending the
appointment of his successor, the Comptroller of the Currency shall act as chairman.
The Comptroller of the Currency shall be ineligible during the time he is in office
and for two years thereafter to hold any office, position, or employment in any insured
bank. The appointive members of the board of directors shall be ineligible during
the time they are in office and for two years thereafter to hold any office, position,
or employment in any insured bank, except that this restriction shall not apply to
any appointive member who has served the full term for which he was appointed.
N o member of the board of directors shall be an officer or director of any bank,
banking institution, trust company, or Federal Reserve bank or hold stock in any
bank, banking institution, or trust company; and before entering upon his duties
as a member of the board of directors he shall certify under oath that he has complied
with this requirement and such certification shall be filed with the secretary of the
board of directors. N o member of the board of directors serving on the board of
directors on the effective date shall be subject to any of the provisions of the three
preceding sentences until the expiration of his present term of office.
Definitions
(c) As used in this section—
(1)
The term “ State bank” means any bank, banking association, trust company,
savings bank, or other banking institution which is engaged in the business of
receiving deposits and which is incorporated under the laws of any State, Hawaii,
Alaska, Puerto Rico, or the Virgin Islands, or which is operating under the Code
of Law for the District of Columbia (except a national bank), and includes any
unincorporated bank the deposits of which are insured on the effective date under
the provisions of this section.
REVISED DEPOSIT INSURANCE LAW
69
(2) The term “ State member bank” means any State bank which is a member
of the Federal Reserve System, and the term “ State nonmember bank” means any
State bank which is not a member of the Federal Reserve System.
(3) The term “ District bank” means any State bank operating under the Code
of Law for the District of Columbia.
(4) The term “ national member bank” means any national bank located in any
of the States of the United States, the District of Columbia, Hawaii, Alaska, Puerto
Rico, or the Virgin Islands which is a member of the Federal Reserve System.
(5) The term “ national nonmember bank” means any national bank located in
Hawaii, Alaska, Puerto Rico, or the Virgin Islands which is not a member of the
Federal Reserve System.
(6) The term “ mutual savings bank” means a bank without capital stock tran
sacting a savings bank business, the net earnings of which inure wholly to the benefit
of its depositors after payment of obligations for any advances by its organizers.
(7) The term “ savings bank” means a bank (other than a mutual savings bank)
which transacts its ordinary banking business strictly as a savings bank under State
laws imposing special requirements on such banks governing the manner of in
vesting their funds and of conducting their business: Provided, That the bank
maintains, until maturity date or until withdrawn, all deposits made with it (other
than funds held by it in a fiduciary capacity) as time savings deposits of the specific
term type or of the type where the right is reserved to the bank to require written
notice before permitting withdrawal: Provided further, That such bank to be con
sidered a savings bank must elect to become subject to regulations of the Corporation
with respect to the redeposit of maturing deposits and prohibiting withdrawal of
deposits by checking except in cases where such withdrawal is permitted by law on
the effective date from specifically designated deposit accounts totaling not more
than 15 per centum of the bank’s total deposits.
(8) The term “ insured bank” means any bank the deposits of which are insured
in accordance with the provisions of this section; and the term “ noninsured bank”
means any bank the deposits of which are not so insured.
(9) The term “ new bank” means a new national banking association organized
by the Corporation to assume the insured deposits of an insured bank closed on
account of inability to meet the demands of its depositors and otherwise to perform
temporarily the functions prescribed in this section.
(10) The term “ receiver” includes a receiver, liquidating agent, conservator,
commission, person, or other agency charged by law with the duty of winding up
the affairs of a bank.
(11) The term “ board of directors” means the board of directors of the Corpora
tion.
(12) The term “ deposit” means the unpaid balance of money or its equivalent
received by a bank in the usual course of business and for which it has given or is
obligated to give credit to a commercial, checking, savings, time, or thrift account, or
which is evidenced by its certificate of deposit, and trust funds held by such bank
whether retained or deposited in any department of such bank or deposited in
another bank, together with such other obligations of a bank as the board of directors
shall find and shall prescribe by its regulations to be deposit liabilities by general
usage: Provided, That any obligation of a bank which is payable only at an office
of the bank located outside the States of the United States, the District of Columbia,
Hawaii, Alaska, Puerto Rico, and the Virgin Islands, shall not be a deposit for any
of the purposes of this section or be included as a part of total deposits or of an
insured deposit: Provided further, That any insured bank having its principal place
of business in any of the States of the United States or in the District of Columbia
70
FEDERAL DEPOSIT INSURANCE CORPORATION
which maintains a branch in Hawaii, Alaska, Puerto Rico, or the Virgin Islands
may elect to exclude from insurance under this section its deposit obligations which
are payable only at such branch, and upon so electing the insured bank with respect
to such branch shall comply with the provisions of this section applicable to the
termination of insurance by nonmember banks: Provided further, That the bank
may elect to restore the insurance to such deposits at any time its capital stock is
unimpaired.
(13)
The term “ insured deposit” means the net amount due to any depositor
for deposits in an insured bank (after deducting offsets) less any part thereof which
is in excess of $5,000. Such net amount shall be determined according to such re
gulations as the board of directors may prescribe, and in determining the amount
due to any depositor there shall be added together all deposits in the bank main
tained in the same capacity and the same right for his benefit either in his own name
or in the names of others, except trust funds which shall be insured as provided in
paragraph (9) of subsection (h) of this section.
(14) The term “ transferred deposit” means a deposit in a new bank or other
insured bank made available to a depositor by the Corporation as payment of the
insured deposit of such depositor in a closed bank, and assumed by such new bank
or other insured bank.
(15) The term “ branch” includes any branch bank, branch office, branch agency,
additional office, or any branch place of business located in any State of the United
States or in Hawaii, Alaska, Puerto Rico, or the Virgin Islands at which deposits are
received or checks paid or money lent.
(16) The term “ effective date” means the date of enactment of the Banking Act
of 1935.*
Capital stock of the Corporation
(d) There is hereby authorized to be appropriated, out of any money in the
Treasury not otherwise appropriated, the sum of $150,000,000, which shall be avail
able for payment by the Secretary of the Treasury for capital stock of the Corpora
tion in an equal amount, which shall be subscribed for by him on behalf of the
United States. Payments upon such subscription shall be subject to call in whole
or in part by the board of directors of the Corporation. Such stock shall be in
addition to the amount of capital stock required to be subscribed for by Federal
Reserve banks. Receipts for payments by the United States for or on account of
such stock shall be issued by the Corporation to the Secretary of the Treasury and
shall be evidence of the stock ownership of the United States. Every Federal
Reserve bank shall subscribe to shares of stock in the Corporation to an amount
equal to one-half of the surplus of such bank on January 1, 1933, and its subscrip
tions shall be accompanied by a certified check payable to the Corporation in an
amount equal to one-half of such subscription. The remainder of such subscription
shall be subject to call from time to time by the board of directors upon ninety days’
notice. The capital stock of the Corporation shall consist of the shares subscribed
for prior to the effective date. Such stock shall be without nominal or par value,
and shares issued prior to the effective date shall be exchanged and reissued at the
rate of one share for each $100 paid into the Corporation for capital stock. The
consideration received by the Corporation for the capital stock shall be allocated to
capital and to surplus in such amounts as the board of directors shall prescribe.
Such stock shall have no vote and shall not be entitled to the payment of dividends.
Insurance for member banks of the Federal Reserve System
(e) (1) Every operating State or national member bank, including a bank in
corporated since March 10,1933, licensed on or before the effective date by the SeC^The “ effective date” is August 23, 1935, when the Act was approved by the President.
REVISED DEPOSIT INSURANCE LAW
71
retary of the Treasury shall be and continue to be, without application or approval,
an insured bank and shall be subject to the provisions of this section.
(2)
After the effective date, every national member bank which is authorized to
commence or resume the business of banking, and every State bank which is con
verted into a national member bank or which becomes a member of the Federal
Reserve System, shall be an insured bank from the time it is authorized to commence
or resume business or becomes a member of the Federal Reserve System. The
certificate herein prescribed shall be issued to the Corporation by the Comptroller
of the Currency in the case of such national member bank, or by the Board of Gov
ernors of the Federal Reserve System in the case of such State member bank:
Provided, That in the case of an insured bank which is admitted to membership in
the Federal Reserve System or an insured State bank which is converted into a
national member bank, such certificate shall not be required, and the bank shall
continue as an insured bank. Such certificate shall state that the bank is authorized
to transact the business of banking in the case of a national member bank, or is a
member of the Federal Reserve System in the case of a State member bank, and
that consideration has been given to the factors enumerated in subsection (g) of
this section.
Insurance for banks not members of the Federal Reserve System
(f) (1) Every bank which is not a member of the Federal Reserve System which
on June 30,1935, was or thereafter became a member of the Temporary Federal
Deposit Insurance Fund or of the Fund For Mutuals heretofore created pursuant
to the provisions of this section, shall be and continue to be, without application or
approval, an insured bank and shall be subject to the provisions of this section:
Provided, That any State nonmember bank which was admitted to the said Tem
porary Federal Deposit Insurance Fund or the Fund For Mutuals but which did
not file on or before the effective date an October 1, 1934, certified statement and
make the payments thereon required by law, shall cease to be an insured bank on
August 31, 1935: Provided further, That no bank admitted to the said Temporary
Federal Deposit Insurance Fund or the Fund For Mutuals prior to the effective
date shall, after August 31, 1935, be an insured bank or have its deposits insured by
the Corporation, if such bank shall have permanently discontinued its banking
operations prior to the effective date.
(2)
Subject to the provisions of this section, any national nonmember bank,
upon application by the bank and certification by the Comptroller of the Currency
in the manner prescribed in subsection (e) of this section, and any State nonmember
bank, upon application to and examination by the Corporation and approval by
the board of directors, may become an insured bank. Before approving the applica
tion of any such State nonmember bank, the board of directors shall give considera
tion to the factors enumerated in subsection (g) of this section and shall determine,
upon the basis of a thorough examination of such bank, that its assets in excess of
its capital requirements are adequate to enable it to meet all its liabilities to de
positors and other creditors as shown by the books of the bank.
Factors and qualifications for insurance to be considered in the case of new
applications
(g) The factors to be enumerated in the certificate required under subsection (e)
and to be considered by the board of directors under subsection (f) shall be the
following: The financial history and condition of the bank, the adequacy of its
capital structure, its future earnings prospects, the general character of its manage
ment, the convenience and needs of the community to be served by the bank, and
whether or not its corporate powers are consistent with the purposes of this section.
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FEDERAL DEPOSIT INSURANCE CORPORATION
Payment of assessments
(h)
(1) The assessment rate shall be one-twelfth of 1 per centum per annum.
The semiannual assessment for each insured bank shall be in the amount of the
product of one-half the annual assessment rate multiplied by an assessment base
which shall be the average for six months of the differences at the end of each
calendar day between the total amount of liability of the bank for deposits (according
to the definition of the term “ deposit” in and pursuant to paragraph (12) of sub
section (c) of this section, without any deduction for indebtedness of depositors)
and the total of such uncollected items as are included in such deposits and credited
subject to final payment: Provided, however, That the daily total of such uncollected
items shall be determined according to regulations prescribed by the board of direc
tors upon a consideration of the factors of general usage and ordinary time of avail
ability, and for the purposes of such deduction no item shall be regarded as un
collected for longer periods than those prescribed by such regulations.
Each
insured bank shall, as a condition to the right to deduct any specific uncollected
item in determining its assessment base, maintain such records as will readily permit
verification of the correctness of the particular deduction claimed. The certified
statements required to be filed with the Corporation under paragraphs (2), (3), and
(4) of this subsection shall be in such form and set forth such supporting information
as the board of directors shall prescribe. The assessment payments required from
insured banks under paragraphs (2), (3), and (4) of this subsection shall be made in
such manner and at such time or times as the board of directors shall prescribe,
provided the time or times so prescribed shall not be later than sixty days after
filing the certified statement setting forth the amount of the assessment. In the
event that a separate Fund For Mutuals is established as provided in subsection
(1), the board of directors from time to time may fix a lower assessment rate operative
for such period as the board may determine which shall be applicable to insured
mutual savings banks only, and the remainder of this paragraph shall not be applic
able to such banks.
(2) On or before the 15th day of July of each year, each insured bank shall file
with the Corporation a certified statement under oath showing for the six months
ending on the preceding June 30 the amount of the assessment base and the amount
of the semiannual assessment due to the Corporation, determined in accordance
with paragraph (1) of this subsection. Each insured bank shall pay to the Cor
poration the amount of the semiannual assessment it is required to certify. On or
before the 15th day of January of each year after 1936 each insured bank shall file
with the Corporation a similar certified statement for the six months ending on the
preceding December 31 and shall pay to the Corporation the amount of the semi
annual assessment it is required to certify.
(3) Each bank which becomes an insured bank according to the provisions of
subsection (e) or (f) of this section shall, on or before the 15th day of November
1935, file with the Corporation a certified statement under oath showing the amount
of the assessment due to the Corporation for the period ending December 31, 1935,
which shall be an amount equal to the product of one-third the annual assessment
rate multiplied by the assessment base determined in accordance with paragraph
(1) of this subsection, except that the assessment base shall be the average for the
31 days in the month of October 1935, and payment shall be made to the Corpora
tion of the amount of the assessment so required to be certified. Each such bank
shall, on or before the 15th day of January 1936, file with the Corporation a certified
statement under oath showing the amount of the semiannual assessment due to the
Corporation for the period ending June 30, 1936, which shall be an amount equal
to the product of one-half the annual assessment rate multiplied by the assessment
base determined in accordance with paragraph (1) of this subsection, except that
REVISED DEPOSIT INSURANCE LAW
73
the assessment base shall be the average for the days of the months of October,
November and December of 1935, and payment shall be made to the Corporation
of the amount of the assessment so required to be certified.
(4) Each bank which becomes an insured bank after the effective date shall be
relieved from complying with the provisions of paragraph (2) of this subsection
until it has operated as an insured bank for a full semi-annual period ending on
June 30 or December 31 as the case may be. Each such bank, on or before the
forty-fifth day after its first day of operation as an insured bank, shall file with the
Corporation its first certified statement which shall be under oath and shall show
the amount of the assessment base determined in accordance with paragraph (1)
of this subsection, except that the assessment base shall be the average for the first
thirty-one calendar days it operates as an insured bank. Each such certified state
ment shall also show as the amount of the first assessment due to the Corporation
the pro-rated portion (for the period between its first day of operation as an insured
bank and the next succeeding last day of June or December, as the case may be)
of an amount equal to the product of one-half the annual assessment rate multiplied
by the base required to be set forth on its first certified statement. Each bank which
becomes an insured bank after the effective date which has not operated as an insured
bank for a full semiannual period ending on June 30 or December 31, as the case
may be, shall, on or before the 15th day of the first month thereafter (except that
banks becoming insured in June or December shall have thirty-one additional days)
file with the Corporation its second certified statement under oath showing the
amount of the assessment base and the amount of the semiannual assessment due
to the Corporation. Such assessment base and amount shall be determined in
accordance with paragraph (1) of this subsection, except that if the bank became
an insured bank in the month of December or June the assessment base shall be the
average for the first thirty-one calendar days it operates as an insured bank, and
except that if it became an insured bank in any other month than December or June
the assessment base shall be the average for the days between its first day of opera
tion as an insured bank and the next succeeding last day of June or December, as
the case may be. Each bank required to file a certified statement under this par
agraph shall pay to the Corporation the amount of the assessment the bank is
required to certify.
(5) Each bank which shall be and continue without application or approval an
insured bank in accordance with the provisions of subsection (e) or (f) of this section,
shall, in lieu of all right to refund [except as authorized in paragraph (3) of sub
section (i)], be credited with any balance to which such bank shall become entitled
upon the termination of the said Temporary Federal Deposit Insurance Fund or
the Fund For Mutuals. The credit shall be applied by the Corporation toward the
payment of the assessment next becoming due from such bank and upon succeeding
assessments until the credit is exhausted.
(6) Any insured bank which fails to file any certified statement required to be
filed by it in connection with determining the amount of any assessment payable
by the bank to the Corporation may be compelled to file such statement by mand
atory injunction or other appropriate remedy in a suit brought for such purpose
by the Corporation against the bank and any officer or officers thereof in any court
of the United States of competent jurisdiction in the district or territory in which
such bank is located.
(7) The Corporation, in a suit brought at law or in equity in any court of com
petent jurisdiction, shall be entitled to recover from any insured bank the amount of
any unpaid assessment lawfully payable by such insured bank to the Corporation,
whether or not such bank shall have filed any such certified statement and whether
or not suit shall have been brought to compel the bank to file any such statement.
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FEDERAL DEPOSIT INSURANCE CORPORATION
(8) Should any national member bank or any insured national nonmember bank
fail to file any certified statement required to be filed by such bank under any
provision of this subsection, or fail to pay any assessment required to be paid by
such bank under any provision of this section, and should the bank not correct such
failure within thirty days after written notice has been given by the Corporation to
an officer of the bank, citing this paragraph, and stating that the bank has failed
to file or pay as required by law, all the rights, privileges, and franchises of the bank
granted to it under the National Bank Act or under the provisions of this Act, as
amended, shall be thereby forfeited. Whether or not the penalty provided in this
paragraph has been incurred shall be determined and adjudged in the manner pro
vided in the sixth paragraph of section 2 of this Act, as amended. The remedies
provided in this paragraph and in the two preceding paragraphs shall not be con
strued as limiting any other remedies against any insured bank, but shall be in
addition thereto.
(9) Trust funds held by an insured bank in a fiduciary capacity whether held in
its trust or deposited in any other department or in another bank shall be insured
in an amount not to exceed $5,000 for each trust estate, and when deposited by the
fiduciary bank in another insured bank such trust funds shall be similarly insured
to the fiduciary bank according to the trust estates represented. Notwithstanding
any other provision of this section, such insurance shall be separate from and ad
ditional to that covering other deposits of the owners of such trust funds or the
beneficiaries of such trust estates: Provided, That where the fiduciary bank deposits
any of such trust funds in other insured banks, the amount so held by other insured
banks on deposit shall not for the purpose of any certified statement required under
paragraph (2), (3), or (4) of this subsection be considered to be a deposit liability
of the fiduciary bank, but shall be considered to be a deposit liability of the bank in
which such funds are so deposited by such fiduciary bank. The board of directors
shall have power by regulation to prescribe the manner of reporting and of depositing
such trust funds.
Termination of insured bank status
(i)
(1) Any insured bank (except a national member bank or State member bank)
may, upon not less than ninety days' written notice to the Corporation, and to the
Reconstruction Finance Corporation if it owns or holds as pledgee any preferred
stock, capital notes, or debentures of such bank, terminate its status as an insured
bank. Whenever the board of directors shall find that an insured bank or its
directors or trustees have continued unsafe or unsound practices in conducting the
business of such bank, or have knowingly or negligently permitted any of its officers
or agents to violate any provision of any law or regulation to which the insured
bank is subject, the board of directors shall first give to the Comptroller of the
Currency in the case of a national bank or a District bank, to the authority having
supervision of the bank in the case of a State bank, or to the Board of Governors
of the Federal Reserve System in the case of a State member bank, a statement with
respect to such practices or violations for the purpose of securing the correction
thereof. Unless such correction shall be made within one hundred and twenty days
or such shorter period of time as the Comptroller of the Currency, the State author
ity, or Board of Governors of the Federal Reserve System, as the case may be, shall
require, the board of directors, if it shall determine to proceed further, shall give to
the bank not less than thirty days' written notice of intention to terminate the
status of the bank as an insured bank, and shall fix a time and place for a hearing
before the board of directors or before a person designated by it to conduct such
hearing, at which evidence may be produced, and upon such evidence the board of
directors shall make written findings which shall be conclusive. Unless the bank
shall appear at the hearing by a duly authorized representative, it shall be deemed
REVISED DEPOSIT INSURANCE LAW
75
to have consented to the termination of its status as an insured bank. If the board
of directors shall find that any violation specified in such notice has been established
the board of directors may order that the insured status of the bank be terminated
on a date subsequent to such finding and to the expiration of the time specified in
such notice of intention. The Corporation may publish notice of such termination
and the bank shall give notice of such termination to each of its depositors at his
last address of record on the books of the bank, in such manner and at such time as
the board of directors may find to be necessary and may order for the protection of
depositors. After the termination of the insured status of any bank under the
provisions of this paragraph, the insured deposits of each depositor in the bank on
the date of such termination, less all subsequent withdrawals from any deposits of
such depositor, shall continue for a period of two years to be insured, and the bank
shall continue to pay to the Corporation assessments as in the case of an insured
bank during such period. No additions to any such deposits and no new deposits
in such bank made after the date of such termination shall be insured by the Corpor
ation, and the bank shall not advertise or hold itself out as having insured deposits
unless in the same connection it shall also state with equal prominence that such
additions to deposits and new deposits made after such date are not so insured.
Such bank shall, in all other respects, be subject to the duties and obligations of
an insured bank for the period of two years from the date of such termination, and
in the event that such bank shall be closed on account of inability to meet the de
mands of its depositors within such period of two years, the Corporation shall have
the same powers and rights with respect to such bank as in case of an insured bank.
(2) Whenever the insured status of a State member bank shall be terminated by
action of the board of directors, the Board of Governors of the Federal Reserve
System shall terminate its membership in the Federal Reserve System in accordance
with the provisions of section 9 of this Act, and whenever the insured status of a
national member bank shall be so terminated the Comptroller of the Currency shall
appoint a receiver for the bank, which shall be the Corporation whenever the bank
shall be unable to meet the demands of its depositors. Whenever a member bank
shall cease to be a member of the Federal Reserve System, its status as an insured
bank shall, without notice or other action by the board of directors, terminate on
the date the bank shall cease to be a member of the Federal Reserve System, with
like effect as if its insured status had been terminated on said date by the board of
directors after proceedings under paragraph (1) of this subsection.
(3) If any nonmember bank which becomes an insured bank under the provisions
of paragraph (1) of subsection (f) of this section shall elect, within thirty days after
the effective date, not to continue as an insured bank, and shall within such period
give written notice to the Corporation of its election, in accordance with regulations
to be prescribed by the board of directors, and to the Reconstruction Finance Cor
poration if it owns or holds as pledgee any preferred stock, capital notes, or deben
tures of such bank, it shall cease to be an insured bank and cease to be subject to
the provisions of this section and the rights of the bank (including its right to any
refund) shall be as provided by law existing prior to the effective date. The board
of directors shall cause notice of termination of insurance to be given to the depositors
of such bank by publication or otherwise as the board of directors may determine,
and the deposits in such bank shall continue to be insured for twenty days beyond
such thirty day period.
(4) Whenever the liabilities of an insured bank for deposits shall have been
assumed by another insured bank or banks, the insured status of the bank whose
liabilities are so assumed shall terminate on the date of receipt by the Corporation of
satisfactory evidence of such assumption with like effect as if its insured status
had been terminated on said date by the board of directors after proceedings under
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FEDERAL DEPOSIT INSURANCE CORPORATION
paragraph (1) of this subsection: Provided, That if the bank whose liabilities are
so assumed gives to its depositors notice of such assumption within thirty days after
such assumption takes effect, by publication or by any reasonable means, in ac
cordance with regulations to be prescribed by the board of directors, the insurance
of its deposits shall terminate at the end of six months from the date such assump
tion takes effect, and such bank shall thereupon be relieved of all future obligations
to the Corporation, including the obligation to pay future assessments.
Powers of the Corporation
(j) Upon the date of enactment of the Banking Act of 1933, the Corporation
shall become a body corporate and as such shall have power—
First. To adopt and use a corporate seal.
Second. To have succession until dissolved by an Act of Congress.
Third. To make contracts.
Fourth. To sue and be sued, complain and defend, in any court of law or equity,
State or Federal. All suits of a civil nature at common law or in equity to which the
Corporation shall be a party shall be deemed to arise under the laws of the United
States: Provided, That any such suit to which the Corporation is a party in its
capacity as receiver of a State bank and which involves only the rights or obliga
tions of depositors, creditors, stockholders, and such State bank under State law
shall not be deemed to arise under the laws of the United States. N o attachment
or execution shall be issued against the Corporation or its property before final
judgment in any suit, action, or proceeding in any State, county, municipal, or
United States court. The board of directors shall designate an agent upon whom
service of process may be made in any State, Territory, or jurisdiction in which
any insured bank is located.
Fifth. To appoint by its board of directors such officers and employees as are
not otherwise provided for in this section, to define their duties, fix their compensa
tion, require bonds of them and fix the penalty thereof, and to dismiss at pleasure
such officers or employees. Nothing in this or any other Act shall be construed
to prevent the appointment and compensation as an officer or employee of the
Corporation of any officer or employee of the United States in any board, commis
sion, independent establishment, or executive department thereof.
Sixth. To prescribe by its board of directors, bylaws not inconsistent with law,
regulating the manner in which its general business may be conducted, and the
privileges granted to it by law may be exercised and enjoyed.
Seventh. To exercise by its board of directors, or duly authorized officers or
agents, all powers specifically granted by the provisions of this section and such
incidental powers as shall be necessary to carry out the powers so granted.
Eighth. To make examinations of and to require information and reports from
banks, as provided in this section.
Ninth. To act as receiver.
Tenth. To prescribe by its board of directors such rules and regulations as it may
deem necessary to carry out the provisions of this section.
Administrative matters
(k) (1) The board of directors shall administer the affairs of the Corporation
fairly and impartially and without discrimination. The board of directors of the
Corporation shall determine and prescribe the manner in which its obligations
shall be incurred and its expenses allowed and paid. The Corporation shall be
entitled to the free use of the United States mails in the same manner as the executive
departments of the Government. The Corporation with the consent of any Federal
REVISED DEPOSIT INSURANCE LAW
77
Reserve bank or of any board, commission, independent establishment, or executive
department of the Government, including any field service thereof, may avail itself
of the use of information, services, and facilities thereof in carrying out the provi
sions of this section.
(2) The board of directors shall appoint examiners who shall have power, on
behalf of the Corporation, to examine any insured State nonmember bank (except
a District bank), any State nonmember bank making application to become an
insured bank, and any closed insured bank, whenever in the judgment of the board
of directors an examination of the bank is necessary. Such examiners shall have
like power to examine, with the written consent of the Comptroller of the Currency,
any national bank or District bank, and, with the written consent of the Board of
Governors of the Federal Reserve System, any State member bank. Each such
examiner shall have power to make a thorough examination of all the affairs of the
bank and in doing so he shall have power to administer oaths and to examine and take
and preserve the testimony of any of the officers and agents thereof, and shall make
a full and detailed report of the condition of the bank to the Corporation. The
board of directors in like manner shall appoint claim agents who shall have power
to investigate and examine all claims for insured deposits and transferred deposits.
Each claim agent shall have power to administer oaths and to examine under oath
and take and preserve the testimony of any persons relating to such claims. The
provisions of sections 184 to 186 (both inclusive) of the Revised Statutes (U. S. C.,
title 5, secs. 94 to 96) are hereby extended to examinations and investigations
authorized by this paragraph.
(3) Each insured State nonmember bank (except a District bank) shall make to
to the Corporation reports of condition in such form and at such times as the board
of directors may require. The board of directors may require such reports to be
published in such manner, not inconsistent with any applicable law, as it may direct.
Every such bank which fails to make or publish any such report within such time,
not less than five days, as the board of directors may require, shall be subject to a
penalty of not more than $100 for each day of such failure recoverable by the
Corporation for its use.
(4) The Corporation shall have access to reports of examinations made by, and
reports of condition made to, the Comptroller of the Currency or any Federal
Reserve bank, may accept any report made by or to any commission, board, or
authority having supervision of a State nonmember bank (except a District bank),
and may furnish to the Comptroller of the Currency, to any Federal Reserve bank,
and to any such commission, board, or authority, reports of examinations made on
behalf of, and reports of condition made to, the Corporation.
Insurance of deposits— liquidation of insured banks
(1)
(1) The Temporary Federal Deposit Insurance Fund and the Fund For
Mutuals heretofore created pursuant to the provisions of this section are hereby
consolidated into a Permanent Insurance Fund for insuring deposits, and the assets
therein shall be held by the Corporation for the uses and purposes of the Corpora
tion: Provided, That the obligations to and rights of the Corporation, depositors,
banks, and other persons arising out of any event or transaction prior to the effective
date shall remain unimpaired. On and after the effective date, the Corporation
shall insure the deposits of all insured banks as provided in this section: Provided,
That the insurance shall apply only to deposits of insured banks which have been
made available since March 10, 1933, for withdrawal in the usual course of the
banking business: Provided further, That if any insured bank shall, without the
consent of the Corporation, release or modify restrictions on or deferments of de
posits which had not been made available for withdrawal in the usual course of the
banking business on or before the effective date, such deposits shall not be insured.
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FEDERAL DEPOSIT INSURANCE CORPORATION
The maximum amount of the insured deposit of any depositor shall be $5,000.
The Corporation, in the discretion of the board of directors, may open on its books
solely for the benefit of mutual savings banks and depositors therein a separate
Fund For Mutuals. If such Fund is opened, all assessments upon mutual savings
banks shall be paid into such Fund and the Permanent Insurance Fund of the
Corporation shall cease to be liable for insurance losses sustained in mutual savings
banks: Provided, That the capital assets of the Corporation shall be so liable and
all expenses of operation of the Corporation shall be allocated between such Funds
on an equitable basis.
(2) For the purposes of this section, an insured bank shall be deemed to have
been closed on account of inability to meet the demands of its depositors in any case
in which it has been closed for the purpose of liquidation without adequate provision
being made for payment of its depositors.
(3) Notwithstanding any other provision of law, whenever any insured national
bank or insured District bank shall have been closed by action of its board of
directors, or by the Comptroller of the Currency, as the case may be, on account
of inability to meet the demands of its depositors, the Comptroller of the Currency
shall appoint the Corporation receiver for such closed bank, and no other person
shall be appointed as receiver of such closed bank.
(4) It shall be the duty of the Corporation as such receiver to realize upon the
assets of such closed bank, having due regard to the condition of credit in the locality;
to enforce the individual liability of the stockholders and directors thereof; and to
wind up the affairs of such closed bank in conformity with the provisions of law
relating to the liquidation of closed national banks, except as herein otherwise
provided. The Corporation shall retain for its own account such portion of the
amounts realized from such liquidation as it shall be entitled to receive on account of
its subrogation to the claims of depositors, and it shall pay to depositors and other
creditors the net amounts available for distribution to them. W ith respect to any
such closed bank, the Corporation as such receiver shall have all the rights, powers,
and privileges now possessed by or hereafter granted by law to a receiver of an
insolvent national bank.
(5) Whenever any insured State bank (except a District bank) shall have been
closed by action of its board of directors or by the authority having supervision
of such bank, as the case may be, on account of inability to meet the demands of
its depositors, the Corporation shall accept appointment as receiver thereof, if such
appointment is tendered by the authority having supervision of such bank and is
authorized or permitted by State law. W ith respect to any such insured State
bank, the Corporation as such receiver shall possess all the rights, powers, and
privileges granted by State law to a receiver of a State bank.
(6) Whenever an insured bank shall have been closed on account of inability
to meet the demands of its depositors, payment of the insured deposits in such bank
shall be made by the Corporation as soon as possible, subject to the provisions of
paragraph (7) of this subsection, either (A) by making available to each depositor
a transferred deposit in a new bank in the same community or in another insured
bank in an amount equal to the insured deposit of such depositor and subject to
withdrawal on demand, or (B) in such other manner as the board of directors may
prescribe: Provided, That the Corporation, in its discretion, may require proof
of claims to be filed before paying the insured deposits, and that in any case where
the Corporation is not satisfied as to the validity of a claim for an insured deposit,
it may require the final determination of a court of competent jurisdiction before
paying such claim.
(7) In the case of a closed national bank or District bank, the Corporation, upon
the payment of any depositor as provided in paragraph (6) of this subsection, shall
REVISED DEPOSIT INSURANCE LAW
79
be subrogated to all rights of the depositor against the closed bank to the extent of
such payment. In the case of any other closed insured bank, the Corporation shall
not make any payment to any depositor until the right of the Corporation to be
subrogated to the rights of such depositor on the same basis as provided in the case
of a closed national bank under this section shall have been recognized either by
express provision of State law, by allowance of claims by the authority having
supervision of such bank, by assignment of claims by depositors, or by any other
effective method. In the case of any closed insured bank, such subrogation shall
include the right on the part of the Corporation to receive the same dividends from
the proceeds of the assets of such closed bank and recoveries on account of stock
holders’ liability as would have been payable to the depositor on a claim for the
insured deposit, but such depositor shall retain his claim for any uninsured portion
of his deposit: Provided, That the rights of depositors and other creditors of any
State bank shall be determined in accordance with the applicable provisions of
State law.
(8) As soon as possible after the closing of an insured bank, the Corporation, if it
finds that it is advisable and in the interest of the depositors of the closed bank or
the public, shall organize a new national bank to assume the insured deposits of such
closed bank and otherwise to perform temporarily the functions hereinafter provided
for. The new bank shall have its place of business in the same community as the
closed bank.
(9) The articles of association and the organization certificate of the new bank
shall be executed by representatives designated by the Corporation. N o capital
stock need be paid in by the Corporation. The new bank shall not have a board of
directors, but shall be managed by an executive officer appointed by the board of
directors of the Corporation who shall be subject to its directions. In all other
respects the new bank shall be organized in accordance with the then existing
provisions of law relating to the organization of national banking associations. The
new bank may, with the approval of the Corporation, accept new deposits which
shall be subject to withdrawal on demand and which, except where the new bank is
the only bank in the community, shall not exceed $5,000 from any depositor. The
new bank, without application to or approval by the Corporation, shall be an insured
bank and shall maintain on deposit with the Federal Reserve bank of its district
reserves in the amount required by law for member banks, but it shall not be required
to subscribe for stock of the Federal Reserve bank. Funds of the new bank shall be
kept on hand in cash, invested in obligations of the United States, or in obligations
guaranteed as to principal and interest by the United States, or deposited with the
Corporation, with a Federal Reserve bank, or, to the extent of the insurance cover
age thereon, with an insured bank. The new bank, unless otherwise authorized by
the Comptroller of the Currency, shall transact no business except that authorized
by this section and as may be incidental to its organization. Notwithstanding any
other provision of law the new bank, its franchise, property, and income shall be
exempt from all taxation now or hereafter imposed by the United States, by any
Territory, dependency, or possession thereof, or by any State, county, municipality,
or local taxing authority.
(10) Upon the organization of a new bank, the Corporation shall promptly make
available to it an amount equal to the estimated insured deposits of such closed
bank plus the estimated amount of the expenses of operating the new bank, and
shall determine as soon as possible the amount due each depositor for his insured
deposit in the closed bank, and the total expenses of operation of the new bank.
Upon such determination, the amounts so estimated and made available shall be
adjusted to conform to the amounts so determined. Earnings of the new bank
shall be paid over or credited to the Corporation in such adjustment. If any new
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FEDERAL DEPOSIT INSURANCE CORPORATION
bank, during the period it continues its status as such, sustains any losses with
respect to which it is not effectively protected except by reason of being an insured
bank, the Corporation shall furnish to it additional funds in the amount of such
losses. The new bank shall assume as transferred deposits the payment of the
insured deposits of such closed bank to each of its depositors. Of the amounts so
made available, the Corporation shall transfer to the new bank, in cash, such sums
as may be necessary to enable it to meet its expenses of operation and immediate
cash demands on such transferred deposits, and the remainder of such amounts
shall be subject to withdrawal by the new bank on demand.
(11) Whenever in the judgment of the board of directors it is desirable to do so,
the Corporation shall cause capital stock of the new bank to be offered for sale on
such terms and conditions as the board of directors shall deem advisable in an
amount sufficient, in the opinion of the board of directors, to make possible the con
duct of the business of the new bank on a sound basis, but in no event less than that
required by section 5138 of the Revised Statutes, as amended (U. S. C., Supp.
V II, title 12, sec. 51), for the organization of a national bank in the place where
such new bank is located. The stockholders of the closed insured bank shall be
given the first opportunity to purchase any shares of common stock so offered.
Upon proof that an adequate amount of capital stock in the new bank has been
subscribed and paid for in cash, the Comptroller of the Currency shall require the
articles of association and the organization certificate to be amended to conform
to the requirements for the organization of a national bank, and thereafter, when
the requirements of law with respect to the organization of a national bank have
been complied with, he shall issue to the bank a certificate of authority to commence
business, and thereupon the bank shall cease to have the status of a new bank,
shall be managed by directors elected by its own shareholders and may exercise
all the powers granted by law, and it shall be subject to all the provisions of law
relating to national banks. Such bank shall thereafter be an insured national
bank, without certification to or approval by the Corporation.
(12) If the capital stock of the new bank is not offered for sale, or if an adequate
amount of capital for such new bank is not subscribed and paid for, the board of
directors may offer to transfer its business to any insured bank in the same com
munity which will take over its assets, assume its liabilities, and pay to the Cor
poration for such business such amount as the board of directors may deem adequate;
or the board of directors in its discretion may change the location of the new bank
to the office of the Corporation or to some other place or may at any time wind up
its affairs as herein provided. Unless the capital stock of the new bank is sold or
its assets are taken over and its liabilities are assumed by an insured bank as above
provided within two years from the date of its organization, the Corporation shall
wind up the affairs of such bank, after giving such notice, if any, as the Comptroller
of the Currency may require, and shall certify to the Comptroller of the Currency
the termination of the new bank. Thereafter the Corporation shall be liable for
the obligations of such bank and shall be the owner of its assets. The provisions
of sections 5220 and 5221 of the Revised Statutes (U. S. C., title 12, secs. 181 and
182) shall not apply to such new banks.
Rights of Corporation as receiver— liability for insured deposits
(m) (1) The Corporation as receiver of a closed national bank or District bank
shall not be required to furnish bond and shall have the right to appoint an agent
or agents to assist it in its duties as such receiver, and all fees, compensation, and
expenses of liquidation and administration thereof shall be fixed by the Corporation,
subject to the approval of the Comptroller of the Currency, and may be paid by
it out of funds coming into its possession as such receiver. The Comptroller of
the Currency is authorized and empowered to waive and relieve the Corporation
REVISED DEPOSIT INSURANCE LAW
81
from complying with any regulations of the Comptroller of the Currency with
respect to receiverships where in his discretion such action is deemed advisable
to simplify administration.
(2) Payment of an insured deposit to any person by the Corporation shall
discharge the Corporation, and payment of a transferred deposit to any person
by the new bank or by an insured bank in which a transferred deposit has been
made available shall discharge the Corporation and such new bank or other insured
bank, to the same extent that payment to such person by the closed bank would
have discharged it from liability for the insured deposit.
(3) Except as otherwise prescribed by the board of directors, neither the Cor
poration nor such new bank or other insured bank shall be required to recognize
as the owner of any portion of a deposit appearing on the records of the closed
bank under a name other than that of the claimant, any person whose name or
interest as such owner is not disclosed on the records of such closed bank as part
owner of said deposit, if such recognition would increase the aggregate amount
of the insured deposits in such closed bank.
(4) The Corporation may withhold payment of such portion of the insured
deposit of any depositor in a closed bank as may be required to provide for the
payment of any liability of such depositor as a stockholder of the closed bank,
or of any liability of such depositor to the closed bank or its receiver, which is not
offset against a claim due from such bank, pending the determination and payment
of such liability by such depositor or any other person liable therefor.
(5) If, after the Corporation shall have given at least three months’ notice to
the depositor by mailing a copy thereof to his last known address appearing on
the records of the closed bank, any depositor in the closed bank shall fail to claim
his insured deposit from the Corporation within eighteen months after the appoint
ment of the receiver for the closed bank, or shall fail within such period to claim
or arrange to continue the transferred deposit with the new bank or with the other
insured bank which assumes liability therefor, all rights of the depositor against the
Corporation with respect to the insured deposit, and against the new bank and such
other insured bank with respect to the transferred deposit, shall be barred, and all
rights of the depositor against the closed bank and its shareholders, or the receiver
ship estate to which the Corporation may have become subrogated, shall thereupon
revert to the depositor. The amount of any transferred deposits not claimed
within such eighteen months’ period, shall be refunded to the Corporation.
Investment of funds of the Corporation
(n) (1) Money of the Corporation not otherwise employed shall be invested in
obligations of the Unt ed States or in obligations guaranteed as to principal and
interest by the United States, except that for temporary periods, in the discretion
of the board of directors, funds of the Corporation may be deposited in any Federal
Reserve bank or with the Treasurer of the United States. When designated for
that purpose by the Secretary of the Treasury, the Corporation shall be a depositary
of public moneys, except receipts from customs, under such regulations as may be
prescribed by the said Secretary, and may also be employed as a financial agent
of the Government. It shall perform all such reasonable duties as depositary of
public moneys and financial agent of the Government as may be required of it.
(2) Nothing contained in this section shall be construed to prevent the Corpora
tion from making loans to national banks closed by action of the Comptroller
of the Currency, or by vote of their directors, or to State member banks closed
by action of the appropriate State authorities, or by vote of their directors, or from
entering into negotiations to secure the reopening of such banks.
(3) Receivers or liquidators of insured banks closed on account of inability to
82
FEDERAL DEPOSIT INSURANCE CORPORATION
meet the demands of their depositors shall be entitled to offer the assets of such
banks for sale to the Corporation or as security for loans from the Corporation,
upon receiving permission from the appropriate State authority in accordance
with express provisions of State law in the case of insured State banks, or from the
Comptroller of the Currency in the case of national banks or District banks. The
proceeds of every such sale or loan shall be utilized for the same purposes and in
the same manner as other funds realized from the liquidation of the assets of such
banks. The Comptroller of the Currency may, in his discretion, pay dividends
on proved claims at any time after the expiration of the period of advertisement
made pursuant to section 5235 of the Revised Statutes (U. S. C., title 12, sec. 193),
and no liability shall attach to the Comptroller of the Currency or to the receiver
of any national bank by reason of any such payment for failure to pay dividends
to a claimant whose claim is not proved at the time of any such payment. The
Corporation, in its discretion, may make loans on the security of or may purchase
and liquidate or sell any part of the assets of an insured bank which is now or may
hereafter be closed on account of inability to meet the demands of its depositors,
but in any case in which the Corporation is acting as receiver of a closed insured
bank, no such loan or purchase shall be made without the approval of a court of
competent jurisdiction.
(4)
Until July 1, 1936, whenever in the judgment of the board of directors such
action will reduce the risk or avert a threatened loss to the Corporation and will
facilitate a merger or consolidation of an insured bank with another insured bank,
or will facilitate the sale of the assets of an open or closed insured bank to and
assumption of its liabilities by another insured bank, the Corporation may, upon
such terms and conditions as it may determine, make loans secured in whole or
in part by assets of an open or closed insured bank, which loans may be in subordina
tion to the rights of depositors and other creditors, or the Corporation may purchase
any such assets or may guarantee any other insured bank against loss by reason
of its assuming the liabilities and purchasing the assets of an open or closed insured
bank. Any insured national bank or District bank, or, with the approval of the
Comptroller of the Currency, any receiver thereof, is authorized to contract for
such sales or loans and to pledge any assets of the bank to secure such loans.
Obligations of the Corporation
(o)
(1) The Corporation is authorized and empowered to issue and to have
outstanding its notes, debentures, bonds, or other such obligations, in a par amount
aggregating not more than three times the amount received by the Corporation
in payment of its capital stock and in payment of the assessments upon insured
banks for the year 1936. The notes, debentures, bonds, and other such obligations
issued under this subsection shall be redeemable at the option of the Corporation
before maturity in such manner as may be stipulated in such obligations, and shall
bear such rate or rates of interest, and shall mature at such time or times, as may
be determined by the Corporation: Provided, That the Corporation may sell
on a discount basis short-term obligations payable at maturity without interest.
The notes, debentures, bonds, and other such obligations of the Corporation may
be secured by assets of the Corporation in such manner as shall be prescribed by
its board of directors. Such obligations may be offered for sale at such price or
prices as the Corporation may determine.
(2)
The Secretary of the Treasury, in his discretion, is authorized to purchase
any obligations of the Corporation to be issued hereunder, and for such purpose
the Secretary of the Treasury is authorized to use as a public-debt transaction the
proceeds of the sale of any securities hereafter issued under the Second Liberty
Bond Act, as amended, and the purposes for which securities may be issued under
the Second Liberty Bond Act, as amended, are extended to include such purchases:
REVISED DEPOSIT INSURANCE LAW
83
Provided, That if the Reconstruction Finance Corporation fails for any reason to
purchase any of the obligations of the Corporation as provided in subsection (b)
of section 5e of the Reconstruction Finance Corporation Act, as amended, the
Secretary of the Treasury is authorized and directed to purchase such obligations
in an amount equal to the amount of such obligations the Reconstruction Finance
Corporation so fails to purchase: Provided further, That the Secretary of the
Treasury is authorized and directed, whenever in the judgment of the board of
directors of the Corporation additional funds are required for insurance purposes,
to purchase obligations of the Corporation in an additional amount of not to exceed
$250,000,000 par value: Provided further, That the proceeds derived from the
purchase by the Secretary of the Treasury of any such obligations shall be used
by the Corporation solely in carrying out its functions with respect to such insurance.
The Secretary of the Treasury may, at any time, sell any of the obligations of the
Corporation acquired by him under this subsection. All redemptions, purchases,
and sales by the Secretary of the Treasury of the obligations of the Corporation
shall be treated as public-debt transactions of the United States.
Tax exemption provisions
(p) All notes, debentures, bonds, or other such obligations issued by the Cor
poration shall be exempt, both as to principal and interest, from all taxation (except
estate and inheritance taxes) now or hereafter imposed by the United States, by
any Territory, dependency, or possession thereof, or by any State, county, mu
nicipality, or local taxing authority. The Corporation, including its franchise, its
capital, reserves, and surplus, and its income, shall be exempt from all taxation
now or hereafter imposed by the United States, by any Territory, dependency, or
possession thereof, or by any State, county, municipality, or local taxing authority,
except that any real property of the Corporation shall be subject to State, Ter
ritorial, county, municipal, or local taxation to the same extent according to its
value as other real property is taxed.
Forms of obligations
(q) In order that the Corporation may be supplied with such forms of notes,
debentures, bonds, or other such obligations as it may need for issuance under
this Act, the Secretary of the Treasury is authorized to prepare such forms as shall
be suitable and approved by the Corporation, to be held in the Treasury subject
to delivery, upon order of the Corporation. The engraved plates, dies, bed pieces,
and other material executed in connection therewith shall remain in the custody
of the Secretary of the Treasury. The Corporation shall reimburse the Secretary
of the Treasury for any expenses incurred in the preparation, custody, and delivery
of such notes, debentures, bonds, or other such obligations.
Annual report
(r) The Corporation shall annually make a report of its operations to the Con
gress as soon as practicable after the 1st day of January in each year.
Penalty for false statements to Corporation
(s) Whoever, for the purpose of obtaining any loan from the Corporation, or
any extension or renewal thereof, or the acceptance, release, or substitution of
security therefor, or for the purpose of inducing the Corporation to purchase any
assets, or for the purpose of obtaining the payment of any insured deposit or trans
ferred deposit or the allowance, approval, or payment of any claim, or for the purpose
of influencing in any way the action of the Corporation under this section, makes
any statement, knowing it to be false, or willfully overvalues any security, shall
be punished by a fine of not more than $5,000, or by imprisonment for not more
than two years, or both.
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FEDERAL DEPOSIT INSURANCE CORPORATION
Penalty for making or uttering counterfeit obligations of Corporation
(t) Whoever (1) falsely makes, forges, or counterfeits any obligation or coupon,
in imitation of or purporting to be an obligation or coupon issued by the Corporation,
or (2) passes, utters, or publishes, or attempts to pass, utter, or publish, any false,
forged, or counterfeited obligation or coupon purporting to have been issued by
the Corporation, knowing the same to be false, forged, or counterfeited, or (3)
falsely alters any obligation or coupon issued or purporting to have been issued the
Corporation, or (4) passes, utters, or publishes, or attempts to pass, utter, or pub
lish, as true, any falsely altered or spurious obligation or coupon, issued or pur
porting to have been issued by the Corporation, knowing the same to be falsely
altered or spurious, shall be punished by a fine of not more than $10,000, or by
imprisonment for not more than five years, or both.
Penalty for embezzlement or frauds on Corporation
(u)
Whoever, being connected in any capacity with the Corporation, (1) em
bezzles, abstracts, purloins, or willfully misapplies any moneys, funds, securities,
or other things of value, whether belonging to it or pledged, or otherwise entrusted
to it, or (2) with intent to defraud the Corporation or any other body, politic or
corporate, or any individual, or to deceive any officer, auditor, or examiner of the
Corporation, makes any false entry in any book, report, or statement of or to the
Corporation, or without being duly authorized draws any order or issues, puts
forth, or assigns any note, debenture, bond, or other such obligation, or draft, bill
of exchange, mortgage, judgment, or decree thereof, shall be punished by a fine
of not more than $10,000, or by imprisonment for not more than five years, or b o th .
Regulation of insured banks
(v) (1) N o individual, association, partnership, or corporation shall use the
words “ Federal Deposit Insurance Corporation” , or a combination of any three
of these four words, as the name or a part thereof under which he or it shall do
business. N o individual, association, partnership, or corporation shall advertise
or otherwise represent falsely by any device whatsoever that his or its deposit
liabilities are insured or in anywise guaranteed by the Federal Deposit Insurance
Corporation or by the United States or any instrumentality thereof; and no insured
bank shall advertise or otherwise represent falsely by any device whatsoever the
extent to which or the manner in which its deposit liabilities are insured by the
Federal Deposit Insurance Corporation. Every individual, partnership, associa
tion, or corporation violating this subsection shall be punished by a fine of not
exceeding $1,000, or by imprisonment not exceeding one year, or both.
(2) Every insured bank shall display at each place of business maintained by it
a sign or signs, and shall include in advertisements relating to deposits a statement
to the effect that its deposits are insured by the Corporation. The board of direc
tors shall prescribe by regulation the forms of such signs and the manner of display
and the substance of such statements and the manner of use. For each day an
insured bank continues to violate any provision of this paragraph or any lawful
provision of said regulations, it shall be subject to a penalty of not more than $100,
recoverable by the Corporation for its use.
(3) No insured bank shall pay any dividends on its capital stock or interest on its
capital notes or debentures (if such interest is required to be paid only out of net
profits) while it remains in default in the payment of any assessment due to the
Corporation; and any director or officer of any insured bank who participates in
the declaration or payment of any such dividend shall, upon conviction, be fined
not more than $1,000, or imprisoned not more than one year, or both: Provided,
That if such default is due to a dispute between the insured bank and the Corpora
tion over the amount of such assessment, this paragraph shall not apply, if such
REVISED DEPOSIT INSURANCE LAW
85
bank shall deposit security satisfactory to the Corporation for payment upon final
determination of the issue.
(4) Unless, in addition to compliance with other provisions of law, it shall have
the prior written consent of the Corporation, no insured bank shall enter into any
consolidation or merger with any noninsured bank, or assume liability to pay any
deposits made in any noninsured bank, or transfer assets to any noninsured bank in
consideration of the assumption of liability for any portion of the deposits made in
such insured bank, and no insured State nonmember bank (except a District bank)
without such consent shall reduce the amount or retire any part of its common or
preferred capital stock, or retire any part of its capital notes or debentures.
(5) N o State nonmember insured bank (except a District bank) shall establish
and operate any new branch after thirty days after the effective date unless it shall
have the prior written consent of the Corporation, and no branch of any State non
member insured bank shall be moved from one location to another after thirty days
after the effective date without such consent. The factors to be considered in
granting or withholding the consent of the Corporation under this paragraph shall
be those enumerated in subsection (g) of this section.
(6) The Corporation may require any insured bank to provide protection and
indemnity against burglary, defalcation, and other similar insurable losses. When
ever any insured bank refuses to comply with any such requirement the Corporation
may contract for such protection and indemnity and add the cost thereof to the
assessment otherwise payable by such bank.
(7) Whenever any insured bank (except a national bank or a District bank),
after written notice of the recommendations of the Corporation based on a report
of examination of such bank by an examiner of the Corporation, shall fail to comply
with such recommendations within one hundred and twenty days after such notice,
the Corporation shall have the power, and is hereby authorized, to publish only
such part of such report of examination as relates to any recommendation not
complied with: Provided, That notice of intention to make such publication shall
be given to the bank at least ninety days before such publication is made.
(8) The board of directors shall by regulation prohibit the payment of interest
on demand deposits in insured nonmember banks and for such purpose it may
define the term “ demand deposits” ; but such exceptions from this prohibition shall
be made as are now or may hereafter be prescrbed with respect to deposits payable
on demand in member banks by section 19 of this Act, as amended, or by regulation
of the Board of Governors of the Federal Reserve System. The board of directors
shall from time to time limit by regulation the rates of interest or dividends which
may be paid by insured nonmember banks on time and savings deposits, but such
regulations shall be consistent with the contractual obligations of such banks to
their depositors. For the purpose of fixing such rates of interest or dividends, the
board of directors shall by regulation prescribe different rates for such payment on
time and savings deposits having different maturities, or subject to different conditions
respecting withdrawal or repayment, or subject to different conditions by reason of
different locations, or according to the varying discount rates of member banks in
the several Federal Reserve districts. The board of directors shall by regulation
define what constitutes time and savings deposits in an insured nonmember bank.
Such regulations shall prohibit any insured nonmember bank from paying any time
deposit before its maturity except upon such conditions and in accordance with
such rules and regulations as may be prescribed by the board of directors, and from
waiving any requirement of notice before payment of any savings deposit except
as to all savings deposits having the same requirement. For each violation of any
provision of this paragraph or any lawful provision of such regulation* relating to
the payment of interest or dividends on deposits or to withdrawal of deposits, the
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FEDERAL DEPOSIT INSURANCE CORPORATION
offending bank shall be subject to a penalty of not more than $100, recoverable by
the Corporation for its use.
Sections of the Criminal Code applicable to contracts with the Corporation
(w) The provisions of sections 112, 113, 114, 115, 116, and 117 of the Criminal
Code of the United States (U. S. C., title 18, ch. 5, secs. 202 to 207, inclusive), insofar
as applicable, are extended to apply to contracts or agreements with the Corporation
under this section, which for the purposes hereof shall be held to include loans,
advances, extensions, and renewals thereof, and acceptances, releases, and sub
stitutions of security therefor, purchases or sales of assets, and all contracts and
agreements pertaining to the same.
Duty of Secret Service Division to detect and arrest offenders
(x) The Secret Service Division of the Treasury Department is authorized to
detect, arrest, and deliver into the custody of the United States marshal having
jurisdiction any person committing any of the offenses punishable under this section.
Federal Reserve System-—obligations to join
(y) (1) No State bank which during the calendar year 1941 or any succeeding
calendar year shall have average deposits of $1,000,000 or more shall be an insured
bank or continue to have any part of its deposits insured after July 1 of the year
following any such calendar year during which it shall have had such amount of
average deposits, unless such bank shall be a member of the Federal Reserve System:
Provided, That for the purposes of this paragraph the term “ State bank” shall not
include a savings bank, a mutual savings bank, a Morris Plan bank or other in
corporated banking institution engaged only in a business similar to that transacted
by Morris Plan banks, a State trust company doing no commercial banking business,
or a bank located in Hawaii, Alaska, Puerto Rico, or the Virgin Islands.
(2) It is not the purpose of this section to discriminate, in any manner, against
State nonmember, and in favor of, national or member banks; but the purpose is
to provide all banks with the same opportunity to obtain and enjoy the benefits of
this section. No bank shall be discriminated against because its capital stock is
less than the amount required for eligibility for admission into the Federal Reserve
System.
Separability clause
(z) The provisions of this section limiting the insurance of the deposits of any
depositor to a maximum less than the full amount shall be independent and separable
from each and all of the provisions of this section.
87
REGULATIONS
REGULATIONS OF THE FEDERAL DEPOSIT INSURANCE CORPORATION
During 1935 the Board of Directors of the Federal Deposit Insur
ance Corporation issued five regulations, as well as certain miscellane
ous rulings, notes, and interpretations clarifying provisions of the
regulations. One other regulation was approved during 1935, but
not issued until 1936.
Regulations of a temporary nature. Problems of a temporary
nature, arising in connection with the termination of the temporary
funds, were treated in regulations which continued the alphabetical
designations begun in 1933 and 1934. The text of Regulations G
and H, last of this series, follows:
E X E R C IS E O F R I G H T
O F E L E C T IO N
N O T TO
C O N T IN U E
AS AN
IN S U R E D B A N K
R E G U L A T IO N G
This regulation was approved August 26, 1935,
and became effective as of that date.
S c ope of R e g u l a t io n
This regulation relates to the manner of exercise of the right of election, within
30 days after the “ effective date” of the Banking Act of 1935, of any bank which is
not a member of the Federal Reserve System not to continue as an insured bank.
The “ effective date” of the Banking Act of 1935 is August 23, 1935.
S e c t io n 1.
Statutory Provisions.
Paragraph (1), subsection (f) of Section 12B of the Federal Reserve Act, as
amended, provides in part as follows:
“ Every bank which is not a member of the Federal Reserve System which
on June 30 ,1935, was or thereafter became a member of the Temporary Federal
Deposit Insurance Fund or of the Fund for Mutuals heretofore created pur
suant to the provisions of this section, shall be and continue to be without
application or approval, an insured bank and shall be subject to the provisions
of this section: Provided, That any State nonmember bank which was admitted
to the said Temporary Federal Deposit Insurance Fund or the Fund for Mutuals
but which did not file on or before the effective date an October 1,1 934 , certified
statement and make the payments thereon required by law, shall cease to be
an insured bank on August 31, 1935: Provided, further, That no bank admitted
to the said Temporary Federal Deposit Insurance Fund or the Fund for Mutuals
prior to the effective date shall, after August 31, 1935, be an insured bank or
have its deposits insured by the Corporation, if such bank shall have permanent
ly discontinued its banking operations prior to the effective date.”
Paragraph (3), subsection (i) of Section 12B of the Federal Reserve Act, as
amended, provides in part as follows:
“ If any nonmember bank which becomes an insured bank under the pro
visions of paragraph (1) of subsection (f) of this section shall elect, within
thirty days after the effective date, not to continue as an insured bank, and
shall within such period give written notice to the Corporation of its election,
in accordance with regulations to be prescribed by the board of directors, and
to the Reconstruction Finance Corporation if it owns or holds as pledgee
any preferred stock, capital notes, or debentures of such bank, it shall cease to
be an insured bank****. The board of directors shall cause notice of termina
tion of insurance to be given to the depositors of such bank by publication or
otherwise as the board of directors may determine, and the deposits in such
bank shall continue to be insured for twenty days beyond such thirty day
period.”
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FEDERAL DEPOSIT INSURANCE CORPORATION
S e c t io n 2.
The right to elect not to continue as an insured bank has no application to mem
ber banks of the Federal Reserve System.
Every bank not a member of the Federal Reserve System which on June 30,
1935, was or thereafter became a member of the said Temporary Federal Deposit
Insurance Fund or of the said Fund for Mutuals will be and continue to be an
insured bank as provided by law, unless it shall elect, on or before the 22nd day
of September 1935, in the manner prescribed by this regulation, not to continue
as an insured bank.
S e c t io n 3.
Every bank not a member of the Federal Reserve System, which on June 30,
1935, was or thereafter became a member of said Temporary Federal Deposit Insur
ance Fund or of said Fund for Mutuals shall have the right to elect on or before
September 22, 1935, not to continue as an insured bank by complying with the
following requirements, and not otherwise:
(a) Written notice of such election must be given by the bank by a registered
letter addressed to the Federal Deposit Insurance Corporation, Washington,
D . C., postage thereon prepaid. A telegram from the bank, if received by
the Federal Deposit Insurance Corporation in Washington, D . C., on or before
September 22, 1935, advising the Corporation that such letter has been
mailed, will be notice to the Corporation in the event such letter was actually
mailed.
(b) A resolution must be lawfully adopted by the governing board of the bank on
or before September 22, 1935, stating that the bank elects not to continue as
an insured bank: Provided, That if such resolution is adopted subsequent to
sending the notice prescribed in paragraph (a) of this section, the resolution
shall be effective as a ratification of the act of giving such notice.
(c) A copy of the resolution, duly attested and bearing the bank’s corporate seal
and which complies with the preceding subsection, must be deposited in the
mails, enclosed in an envelope, addressed to the Federal Deposit Insurance
Corporation, Washington, D . C., postage thereon prepaid.
(d) If the Reconstruction Finance Corporation owns, or holds as pledgee, any
preferred stock, capital notes, or debentures of the bank, the bank must
notify the Reconstruction Finance Corporation, Washington, D . C., in the
same manner as it is required to notify the Federal Deposit Insurance Cor
poration.
REGULATIONS
89
M A N N E R O F G I V I N G N O T I C E T O D E P O S IT O R S O F T E R M I N A T I O N O F
I N S U R A N C E O F A N IN S U R E D B A N K
R E G U L A T IO N H
This regulation was approved September 9, 1935,
and became effective as of
thot date.
S cope of R e g u l a t io n
This regulation relates to the manner of giving notice to depositors of termination
of insurance of any insured bank, not a member of the Federal Reserve System which
has exercised the right of election on or before September 22, 1935, not to continue
as an insured bank and has complied with Regulation G of this Corporation.
S e c t io n 1.
Statutory Provisions.
Paragraph (3), subsection (i) of Section 12B of the Federal Reserve Act, as
amended, provides in part as follows:
“ If any nonmember bank which becomes an insured bank under the pro
visions of paragraph (1) of subsection (f) of this section shall elect, within
thirty days after the effective date1, not to continue as an insured bank, and
shall within such period give written notice to the Corporation of its election,
in accordance with regulations to be prescribed by the board of directors, and
to the Reconstruction Finance Corporation if it owns or holds as pledgee any
preferred stock, capital notes, or debentures of such bank, it shall cease to be
an insured bank***. The board of directors shall cause notice of termination
of insurance to be given to the depositors of such bank by publication or other
wise as the board of directors may determine, and the deposits in such bank
shall continue to be insured for twenty days beyond such thirty day period.”
S e c t io n 2.
The Federal Deposit Insurance Corporation will give notice to the depositors of every
bank electing not to continue as an insured bank in compliance with the provisions
of Regulation G, by posting notices as soon as practicable after September 22, 1935,
to remain posted until midnight October 12, 1935, one of such notices to be posted
in a conspicuous place in each office where the bank receives deposits, and another
of such notices to be posted in a conspicuous place in the main Post Office in each
city, town, or village where the bank receives deposits, and by causing notice to be
published in each issue of a newspaper of general circulation in each city, town, or
village in which the bank receives deposits, such publication to commence as soon
as practicable after September 22, 1935, and to end October 12, 1935.
S e c t io n 3.
The notice to be so posted and published shall be prepared by the Corporation
and shall set forth substantially the following statement:
“ Notice To Depositors Of T h e....................................................................Bank,
....................................Bank, located a t.................................................., ............................... ,
having elected not to continue as an insured bank in accordance with the pro
visions of paragraph (3) of subsection (i) of Section 12B of the Federal Reserve
Act, as amended, its depositors are hereby notified that the deposits in such
bank will continue to be insured by the Federal Deposit Insurance Corporation
to the extent provided by law until midnight on October 12, 1935, and at such
time insurance of deposits in such bank by the Federal Deposit Insurance
Corporation will terminate.
F E D E R A L D E P O SIT IN S U R A N C E C O R P O R A T IO N
B y L eo T . C ro w l e y ,
Chairman of the Board of Directors ”
S e c t io n 4.
The Corporation reserves the right, in lieu of or in addition to the notice herein
before prescribed, to give notice to the depositors of any bank electing not to con
tinue as an insured bank in such other manner or form as the Board of Directors
of the Corporation may hereafter determine.
1 T he effective date is A u gust 23, 1935.
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FEDERAL DEPOSIT INSURANCE CORPORATION
Regulations of a permanent nature. In connection with provi
sions of the Banking Act of 1935 relating to the permanent plan of
insurance, a new series of regulations, designated by Roman numerals,
was begun. There follows the text of Regulations I, II, III and IV
of this series and of rulings affecting these regulations:
O B L I G A T I O N S O F I N S U R E D B A N K S F O U N D A N D P R E S C R IB E D T O BE
D E P O S IT L I A B I L I T I E S B Y G E N E R A L U S A G E
R E G U L A T IO N I
This regulation was approved August 2 6 , 193 5 ,
and became effective as of that date.
S co pe of R e g u l a t io n
Under the provisions of paragraph (12), subsection (c) of Section 12B of the
Federal Reserve Act, as amended, the board of directors find and prescribe that the
obligations of banks enumerated herein, arising in the usual course of business, are
deposit liabilities in addition to those specifically enumerated in said subsection.
S e c t io n 1.
Statutory Provisions
Paragraph (12), subsection (c) of Section 12B of the Federal Reserve Act, as
amended, provides as follows:
“ The term ‘deposit" means the unpaid balance of money or its equivalent
received by a bank in the usual course of business and for which it has given
or is obligated to give credit to a commercial, checking, savings, time, or thrift
account, or which is evidenced by its certificate of deposit, and trust funds
held by such bank whether retained or deposited in any department of such
bank or deposited in another bank, together with such other obligations of a bank
as the board of directors shall find and shall prescribe by its regulations to be deposit
liabilities by general usage: Provided, That any obligation of a bank which is
payable only at an office of the bank located outside the States of the United
States, the District of Columbia, Hawaii, Alaska, Puerto Rico, and the Virgin
Islands, shall not be a deposit for any of the purposes of this section or be in
cluded as a part of total deposits or of an insured deposit: Provided further,
That any insured bank having its principal place of business in any of the
States of the United States or in the District of Columbia which maintains a
branch in Hawaii, Alaska, Puerto Rico, or the Virgin Islands may elect to
exclude from insurance under this section its deposit obligations which are
payable only at such branch, and.upon so electing the insured bank with respect
to such branch shall comply with the provisions of this section applicable to
the termination of insurance by nonmember banks: Provided further, That
the bank may elect to restore the insurance to such deposits at any time its
capital stock is unimpaired.”
This regulation is promulgated pursuant to the provisions italicized above.
S e c t io n 2.
The term “ deposit” as used in paragraph (12), subsection (c) of Section 12B of the
Federal Reserve Act, as amended, shall include the following obligations:
I
Outstanding drafts1, cashier's checks and other officers' checks issued under any
of the following circumstances:
(a) For money or its equivalent received by the issuing bank; or
(b) For a charge against a deposit account in the issuing bank; or
(c) In settlement of checks, drafts, or other instruments forwarded to the issuing
bank for collection.
II
Checks drawn against a deposit account and certified by the drawee bank.
REGULATIONS
91
III
Outstanding travelers checks or letters of credit on which the bank is primarily
liable issued under either of the following circumstances:
(a) For money or its equivalent received by the issuing bank; or
(b) For a charge against a deposit account in the issuing bank.
1 D ra fts draw n on foreign correspondents or foreign branches and paya ble o n ly in foreign countries
need not be included.
IN T E R P R E T A T IO N O F T H E W O R D S “ IT S E Q U IV A L E N T ”
IN S E C T I O N 2 O F R E G U L A T I O N I
R U L IN G 1 TO R E G U L A T IO N I
Adopted by the Board of Directors on October 1, 1 9 3 5
Under Regulation I, Section 2, Paragraphs I (a) and III (a) drafts, cashier’s
checks and other officers’ checks, travelers checks and letters of credit must be
regarded as issued for the equivalent of money when issued in exchange for checks
or drafts or for promissory notes upon which the person procuring any of the
enumerated instruments is primarily or secondarily liable.
D E D U C T I O N O F U N C O L L E C T E D I T E M S F R O M D E P O S IT S IN
D E T E R M IN IN G T H E A S S E S S M E N T B ASE
R E G U L A T IO N II
This regulation was approved August 2 6 , 1935,
and became effective as of that date.
Scope
of
R e g u l a t io n
Under the provisions of paragraph (1), subsection (h) of Section 12B of the
Federal Reserve Act, as amended, insured banks are permitted to make deductions
of certain uncollected items from total deposit liabilities for the purpose of deter
mining the bases upon which assessments are to be calculated. This regulation
prescribes the classes of uncollected items which are eligible for deduction and fixes
the periods during which such uncollected items may be deducted.
Se c t io n
1
Statutory Provisions
Paragraph (1), subsection (h) of Section 12B of the Federal Reserve Act, as
amended, provides in part as follows:
“ The assessment rate shall be one-twelfth of 1 per centum per annum. The
semiannual assessment for each insured bank shall be in the amount of the
product of one-half the annual assessment rate multiplied by an assessment
base which shall be the average for six months of the differences at the end
of each calendar day between the total amount of liability of the bank for de
posits (according to the definition of the term ‘deposit’ in and pursuant to
paragraph (12) of subsection (c) of this section, without any deduction for
indebtedness of depositors) and the total of such uncollected items as are in
cluded in such deposits and credited subject to final paym ent: Provided, however,
That the daily total of such uncollected items shall be determined according to
regulations prescribed by the board of directors upon a consideration of the factors
of general usage and ordinary time of availability, and fo r the purposes of such
deduction no item shall be regarded as uncollected fo r longer periods than those
prescribed by such regulations. * * *”
This regulation is promulgated pursuant to the provisions italicized above.
Se c t io n 2
The term “ item” as used in this regulation means any instrument providing for the
payment of money.
In computing the bank’s assessment base, items may be deducted by the bank of
deposit from the total amount of the bank’s liability for deposits during the periods
prescribed by section 3 of this regulation: Provided, That they were included in the
bank’s liability for deposits and, Provided further, That they were received in the
usual course of business pursuant to an agreement under which the bank has given
or is obligated to give credit to a commercial, checking, savings, time, or thrift
account, and that the drawee or the payor of the item is a bank or person other than
the bank of deposit.
N o item shall be deducted except in accordance with the provisions of this section.
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FEDERAL DEPOSIT INSURANCE CORPORATION
S e c t io n 3
A local item1 shall be eligible for deduction for a period not to exceed one day. An
out-of-town item shall be eligible for deduction for a period not to exceed the time
which would be necessary to send the item in due course to the Federal Reserve bank
of the Federal Reserve district or the branch of the sub-district thereof in which the
bank of deposit is located, plus the time allowed for collection from the place where
the item is payable, as shown on the current Time Schedule of such Federal Reserve
bank or branch thereof: Provided, That no item shall be deducted after the bank
has had advice that the item has been paid or dishonored.
This regulation is not to be construed as requiring any bank to clear items through
any Federal Reserve bank or branch thereof.
1 On O ctober 9, 1935, the Board o f D irectors ruled that “ The term ‘ local item ’ as used in Section 3 o f
R egulation II does not include item s which are not available for tw o or m ore days under the Tim e Schedule
o f the Federal Reserve bank or branch thereof for the city in which the bank o f deposit is loca ted ”
IN T E R P R E T A T IO N O F R E G U L A T IO N II W I T H R E F E R E N C E T O P E R M IS S IB L E
D E D U C T IO N S IN T H E E V E N T W I T H D R A W A L S H A V E B EEN A L L O W E D .
R U L IN G 1 TO R E G U L A T IO N II
Adopted by the Board of Directors on October / , 1 93 5
Under Regulation II, Section 2, the bank may deduct the uncollected items therein
described without regard to whether withdrawal has been made against the credit
given or agreed to be given therefor.
D IS P L A Y O F O F F IC I A L S I G N A N D U S E O F O F F IC I A L
A D V E R T IS IN G S T A T E M E N T
R E G U L A T IO N III
Approved and effective October 11 , 193 5
{Superseding Regulation F of 1934 Series)
Scop e o f R e g u l a t i o n
This regulation prescribes the requirements with regard to the official sign
insured banks must display and the requirements with regard to the official adver
tising statement insured banks must include in advertisements relating to deposits.
It also prescribes an approved emblem and an approved short title which insured
banks may use at their option. This regulation imposes no limitations on other
proper advertising of insurance of deposits by insured banks.
S e c tio n 1
Statutory Provisions
Paragraph (2), subsection (v) of Section 12B of the Federal Reserve Act, as
amended, provides as follows:
“ Every insured bank shall display at each place of business maintained by
it a sign or signs, and shall include in advertisements relating to deposits a
statement to the effect that its deposits are insured by the Corporation. The
board of directors shall prescribe by regulation the forms of such signs and the
manner of display and the substance of such statements and the manner of
use. For each day an insured bank continues to violate any provision of this
paragraph or any lawful provision of said regulations, it shall be subject to
a penalty of not more than $100, recoverable by the Corporation for its use.”
S e c t io n 2
Mandatory Requirements with Regard to the
Official Signs and Their Display
Subsection (a). Each insured bank shall continuously display on and after October
11, 1935, for so long as it: continues to be an insured bank, an official sign as herein
after prescribed at each station or window where insured deposits are usually and
normally received in its principal place of business and in all its branches: Provided,
That no bank becoming an insured bank after October 11, 1935, shall be required
to display such official signs until 21 days after its first day of operation as an insured
bank. The official signs may be displayed by any insured bank prior to the date
display is required.
93
REGULATIONS
Subsection (b). The official sign referred to in subsection (a) of this Section shall
be seven inches by three inches in size, made of metal, furnished to banks by this
Corporation only, and of the following design:
D E P O S ITS INSURED
BY
The Federal Deposit Insurance Corporation
WASHINGTON, D. C.
ccnnn
JU U U
m a x im u m i n s u r a n c e
f o r e a c h d e p o s it o r
c c n n n
4> u U U U
The Corporation shall furnish to banks an order blank for use in procuring the
official signs. Any bank which promptly, after receipt of the order blank, fills it in,
executes it, and properly directs and forwards it to the Federal Deposit Insurance
Corporation, Washington, D . C., shall not be deemed to have violated this regula
tion on account of not displaying an official sign or signs, unless the bank shall omit
to display such official sign or signs after same have been tendered to the bank
through the instrumentality of the United States mail ’or otherwise.
Subsection (c). Where two or more banks receive deposits in the same office or
offices, each bank operating as an insured bank and doing business in such office or
offices is forbidden on and after October 11, 19-35, or, in the case of a bank becoming
an insured bank after October 11, 1935, after its first day of operation as an insured
bank, to receive deposits at any window or station where any noninsured bank
receives deposits.
Subsection (d). Pursuant to written notice from the Corporation given to insured
banks at least thirty days prior to any date the Corporation specifies, provided on
such date special circumstances exist, with regard to particular banks, making a
change in the wording of the official signs to be used desirable, each insured bank
receiving such notice shall on and after the date specified in such notice change its
official sign or signs in accordance with the requirements of this Corporation.
S e c t io n 3
Mandatory Requirements with Regard to the Official
Advertising Statement and M anner of Use
Subsection (a). Each insured bank shall include the official advertising state
ment, prescribed in subsection (b) of this Section, in advertisements issued or
caused to be issued by it after February 1, 1936, of the types enumerated in sub
section (c) of this Section as being of the class in which the official statement is
required to be included.
N o bank which becomes an insured bank after December 1, 1935, is required
to include the official advertising statement in such advertisements until 60 days
after its first day of operation as an insured bank.
In cases where, in the opinion of the Board of Directors of the Federal Deposit
Insurance Corporation, undue hardship would result by reason of the requirements
of this subsection becoming operative as to a particular bank on the date fixed herein,
the Board of Directors may grant an extension of time applicable to the particular
bank affected, upon written application of the bank setting forth the facts.
In cases where advertising copy not including the official advertising statement
is on hand on the date the requirements of this subsection become operative, the
insured bank may cause the official advertising statement to be included by use of
a rubber stamp or otherwise.
Subsection (b). The official advertising statement shall be in substance as follows:
“ M E M B E R OF T H E F E D E R A L D E P O SIT IN S U R A N C E C O R P O R A T IO N .”
However, the word “ T H E ” or the words “ OF T H E ” may be omitted. Further,
the words “ This bank is a” or the words “ This institution is a” or the name of the
insured bank followed by the words “ is a” may be added before the word “ M E M
B E R .”
94
FEDERAL DEPOSIT INSURANCE CORPORATION
Subsection (c). The following is an enumeration of the types of advertisements
which, when issued or caused to be issued by an insured bank, shall, in accordance
with the requirements of subsection (a) of this Section, include the official advertis
ing statement:
1. Statements of condition of an insured bank and reports of condition of an
insured bank, except those required to be published by State or Federal law.
2. Institutional advertisements relating directly to an insured bank and publish
ed in a newspaper, magazine, or other periodical except in cases when only the
name or name and address of the insured bank is set forth.
3. Bill boards, posters, street car displays, signs and metal plates or other plates
relating directly to an insured bank, except those which set forth only the
name or name and address of the insured bank, and except those signs or
plates in the banking offices, or on the windows of the banking offices, or
attached to the building or buildings in which the banking offices are located.
4. Pamphlets, circular letters to depositors or customers, leaflets, and calendars
advertising an insured bank.
5. Novelty and specialty advertisements relating directly to an insured bank
except those which set forth only the name or name and address of the in-*
sured bank.
6. Display advertisements, advertising an insured bank, in directories such as
telephone, bank, and city directories, except listings of banks in heavy or
other type.
7. Advertisements^relating directly to an insured bank which are made by
radio or reproduced on the picture screen in theaters.
8. Advertisements soliciting trust business with the intention of causing an
insured bank to receive uninvested trust funds, except signs or plates in the
banking offices or on the windows of the banking offices or attached to the
building or buildings in which the banking offices are located, and except in
cases when only the name or name and address of the insured bank is set
forth.
Subsection (d). Insured banks are not required to include the official advertising
statement in any type of advertisements other than those enumerated in subsection
(c) as being of the class in which such statement is required to be included.
Insured banks are not required to include the official advertising statement in
bank supplies, such as stationery, envelopes, deposit slips, checks, drafts, signature
cards, deposit pass books, certificates of deposit, etc., or in the advertisements ex
cluded by express exceptions to paragraphs 1, 2, 3, 5, 6, and 8 of subsection (c) of
this Section, or in reports to stockholders.
Subsection (e). Where an insured bank has outstanding advertisements of the
the type enumerated in paragraph 3 of subsection (c) of this Section and has direct
control either by possession or under the terms of a contract of such advertisements,
it shall, if it can do so consistently with its contractual obligations, cause the official
advertising statement to be included therein at such time as it would have been
required to include the official advertising statement had the advertisement been
newly issued rather than previously outstanding.
Se c t io n 4
Approved Emblem and Approved Short Title Which
Insured Banks M a y Use at Their Option
Subsection (a).
of insured banks.
The emblem reproduced below is hereby approved for the use
Subsection (b). The following short title is hereby approved for use of insured
banks: “ M E M B E R OF F D IC ” .
REGULATIONS
95
Subsection (c). N o insured bank is required to use the emblem or short title to
any extent whatsoever. However, if any insured bank desires to use the emblem
or short title, it may do so in any of its advertisements and on any of its bank supplies.
Since the approved emblem contains the official advertising statement in the out
side circle, its use in the type of advertisements listed in subsection (c), Section 3
of this regulation will satisfy the mandatory requirements of that Section.
Any insured bank may, in addition to the requirements of this regulation, use any
proper advertising of insurance of its deposits. For example, as an addition to the
official advertising statement, any insured bank may, at its option, use the following
in any of its advertisements:
“ Deposits in this bank are insured with
maximum insurance of $5000 for each depositor”
Further, in the case of display signs in the banking offices which, under the provi
sions of this regulation, are not required to include the official advertising statement,
any insured bank may use, for example, any of the following:
1. “ The Federal Deposit Insurance Corporation insures deposits in this bank
with $5000 maximum insurance for each depositor.”
2. “ Deposits in this bank are insured by the Federal Deposit Insurance Corpora
tion with $5000 maximum insurance for each depositor.”
3. Electric sign or other display reproductions of the official sign.
S e c t io n 5
Penalties
No bank will violate any provision of paragraph (2), subsection (v), Section 12B
of the Federal Reserve Act, as amended, or any provisions of this regulation if it
complies with the provisions of Sections 2 and 3 of this regulation. N o penalty will
be imposed for any violation of the provisions of this regulation until the bank has
been given an opportunity to be heard before the Board of Directors of this Cor
poration.
R U L E IN R E D I S P L A Y A D V E R T I S E M E N T S IN B A N K D IR E C T O R I E S
Adopted by the Board of Directors on December 16, 1935
“ If any insured bank uses a display advertisement in any bank directory on a page
where there are bank listings, whether in heavy or other type, the official advertising
statement or the approved emblem is not required to be used in connection there
with; provided, the name of the insured bank appears in the listings in the directory
and there appears on each page of the directory on which there are listings, whether
in heavy or other type, a symbol or other descriptive matter which indicates member
ship of the bank in the Federal Deposit Insurance Corporation.”
T H E P A Y M E N T O F D E P O S IT S A N D I N T E R E S T T H E R E O N B Y
IN S U R E D N O N M E M B E R B A N K S
R E G U L A T IO N IV
Approved December 21, 1 9 3 5
Amended January 23, 1936
Effective February / , 1936
( Superseding Regulations B and C of 1 934 Series')
A u t h o r it y fo r a n d S cope of R e g u l a t io n
This regulation is issued under authority of paragraph (8), subsection (v) of Sec
tion 12B of the Federal Reserve Act, as amended, which is published in the Appendix
hereto.
This regulation relates to the payment of deposits and interest thereon by insured
nonmember banks. This regulation is not applicable to banks which are members
of the Federal Reserve System. Regulation Q, prescribed by the Board of Gover
nors of the Federal Reserve System for banks which are members of that System, is
not applicable to insured banks which are not members of the Federal Reserve
System, except to the extent that the State law of a particular State provides other
wise.
The provisions of this regulation do not apply to any deposit in a bank located
outside of or payable only at a bank's office which is located outside of the States of
the United States and the District of Columbia.
96
FEDERAL DEPOSIT INSURANCE CORPORATION
S e c t io n 1
Definitions
(a) Demand deposits. The term “ demand deposit” includes every deposit which
is not a “ time deposit” or “ savings deposit,” as defined below.
(b) Time deposits. The term “ time deposits” means “ time certificates of de
posit” and “ time deposits, open account,” as defined below.
(c) Tim e certificates of deposit. The term “ time certificate of deposit,” means a
deposit evidenced by a negotiable or non-negotiable instrument which provides on
its face that the amount of such deposit is payable:
(1) On a certain date, specified in the instrument, not less than 30 days after the
date of the deposit; or
(2) A t the expiration of a specified period not less than 30 days after the date of
instrument; or
(3) Upon written notice to be given not less than 30 days before the date of re
payment.1
(d) Tim e deposits, open account. The term “ time deposit, open account” means
a deposit, other than a “ time certificate of deposit” or a “ savings deposit,” with
respect to which there is in force a written contract with the depositor that neither
the whole nor any part of such deposit may be withdrawn, by check or otherwise,
prior to the date of maturity, which shall be not less than 30 days after the date of
the deposit,2 or prior to the expiration of the period of notice which must be given by
the depositor in writing not less than 30 days in advance of withdrawals.3
(e) Savings deposits. The term “ savings deposit” means a deposit evidenced by
a pass book consisting of funds (i) deposited to the credit of one or more individuals
or of a corporation, association, or other organization operated primarily for religious,
philanthropic, charitable, educational, fraternal, or other similar purposes and not
operated for profit,4 or (ii) in which the entire beneficial interest is held by one or
more individuals or by such a corporation, association, or other organization and in
respect to which—
(1) The depositor is required, or may at any time be required, by the bank to
give notice in writing of an intended withdrawal not less than 30 days before
such withdrawal is made; or the bank consistently continues to adhere to a
practice existing prior to January 23, 1936, of requiring notice of at least 15
days before permitting withdrawal;
(2) Withdrawals are permitted in only two ways, either upon presentation of the
pass book, through payment to the person presenting the pass book, or with
out presentation of the pass book, through payment to the depositor himself
but not to any other person, whether or not acting for the depositor.5
The provisions of (i) and (ii) of this subsection (e), limiting savings deposits to
funds of certain classes of persons shall not be applicable to deposits received and
credited on or before February 1, 1936, to accounts evidenced by pass books in
insured nonmember banks and these deposits, together with interest subsequently
payable on such deposits, less any withdrawals from such accounts, may be classed
by insured nonmember banks as savings deposits under the terms of this subsection,
even though such deposits belong to an association, organization, or corporation
organized for profit. The said provisions of (i) and (ii), however, shall be applicable
to deposits received subsequent to February 1, 1936, whether or not such deposits
are credited to an account existing prior to February 1, 1936.
! If the certificate o f deposit p rovides m erely that the bank reserves the right to require notice o f not
less than 30 days before any w ithdraw al is m ade, the bank m u st require such notice before perm itting
w ithdraw al.
2D eposits, such as Christm as club accou n ts and vacation club accounts, w hich are m ade under w rit
ten con tracts p rovidin g that no w ithdraw al shall be made until a certain num ber o f periodic deposits
have been made during a period o f not less than 3 m onths, con stitu te “ tim e deposits, open a c c o u n t”
even though som e o f the deposits are made within 30 days from the end o f such period.
3I f a deposit be made with respect to w hich the bank m erely reserves the right to require notice of
not less than 30 days before w ithdraw al is m ade, the bank m ust require such notice to be given before
perm itting w ithdraw al.
4D eposits in jo in t accounts o f tw o or m ore individuals m ay be classified as savings deposits if they
m eet the other requirem ents o f the above definition, but deposits o f a partnership operated for profit
m ay not be so classified. D eposits to the credit o f an individual o f funds in w hich any beneficial in ter
est is held by a corporation, partnership, association, or other organ ization operated fo r profit or not
operated prim arily for religious, p hilanthropic, charitable, educational, fraternal, or other sim ilar purposes
m ay not be classified as savings deposits.
REGULATIONS
97
The presentation by any officer, agent, or employee of the bank of a pass book or a
duplicate thereof retained by the bank or by any of its officers, agents, or employees
is not a presentation of the pass book within the meaning of this regulation except
where the pass book is held by the bank as a part of an estate of which the bank is a
trustee or other fiduciary, or where the pass book is held by the bank as security for
a loan. If a pass book is retained by the bank, it may not be delivered to any person
other than the depositor for the purpose of enabling such person to present the pass
book in order to make a withdrawal, although the bank may deliver the pass book to
a duly authorized agent of the depositor for transmittal to the depositor.
Every withdrawal made upon presentation of a pass book shall be entered in the
pass book at the time of the withdrawal, and every other withdrawal shall be en
tered in the pass book as soon as practicable after the withdrawal is made.
(f)
Interest. The term “ interest” means a payment or credit which is made or
furnished by a bank as consideration for the use of the funds constituting a deposit.
The term “ interest” includes any direct or indirect payment by the bank of the
purchase price of premiums given to depositors or prospective depositors in connec
tion with obtaining deposits.
The term “ interest” does not include the payment or absorption of taxes upon
deposits, whether levied against the bank or the depositor, nor payment or absorp
tion of premiums on surety bonds securing deposits where such bonds are required
by or under authority of law.
S e c t io n 2
Demand, Deposits
(a) Interest prohibited. Except as hereinafter provided, no insured nonmember
bank shall, directly or indirectly, by any device whatsoever, pay any interest on any
demand deposit.
(b) Exceptions. The prohibition stated in subsection (a) above does not apply
to—
(1) Payment of interest accruing before August 24, 1937, on any deposit made by
a “ savings bank” 6 as defined in Section 12B of the Federal Reserve Act, as
amended, or by a mutual savings bank;
(2) Payment of interest accruing before August 24 ,1937, on any deposit of public
funds7 made by or on behalf of any State, county, school district, or other
subdivision or municipality, or on any deposit of trust funds, if the payment
of interest with respect to such deposit of public funds or of trust funds is re
quired by State law when such deposits are made in State banks;
(3) Payment of interest in accordance with the terms of any certificate of deposit
or other contract which was lawfully entered into in good faith before Feb
ruary 1, 1936, (or, if the bank became an insured nonmember bank thereafter,
before the date upon which it became an insured nonmember bank) which
was in force on such date, and which may not legally be terminated or mod
ified by such bank at its option and without liability; but no such certificate of
deposit or other contract may be renewed or extended unless it be modified to
eliminate any provision for the payment of interest on demand deposits, and
every insured nonmember bank shall take such action as may be necessary, as
soon as possible consistently with its contractual obligations, to eliminate
from any such certificate of deposit or other contract any provision for the
payment of interest on demand deposits.
(c) Deposits in “ savings banks” 6 in specifically designated deposit accounts with
respect to which withdrawal by checking is permitted in accordance with paragraph
(7), subsection (c), Section 12B of the Federal Reserve Act, as amended, shall for the
purposes of this regulation be classed as demand deposits.
P r e se n ta tio n o f a pass b o o k m ay be made o v er the counter or through the m ails; and p ay m en t
m ay be m ade ov er the counter, through the mails or otherwise, subject to the lim itations o f paragraph
(2), subsection (e), Section 1 as to the person to w hom such p aym ent m ay be made.
6Section 12B (c) (7) o f the Federal R eserve A ct which defines the term “ savings b an k ” is qu oted in
the A p p en d ix hereto.
7D eposits o f m oneys paid into State courts b y private parties pending the ou tco m e o f litigation are
n ot deposits o f “ pub lic fu n d s,” w ithin the m eaning o f the above provision.
98
FEDERAL DEPOSIT INSURANCE CORPORATION
S ec t io n 3
M axim um Rate of Interest on Time and Savings Deposits
(a) Maxim um rate prescribed from time to time. Except in accordance with the
provisions of this regulation, no insured nonmember bank shall pay interest on any
time deposit or savings deposit in any manner, directly or indirectly, or by any
method, practice, or device whatsoever. No insured nonmember bank shall pay
interest on any time deposit or savings deposit at a rate in excess of such applicable
maximum rate as the Board of Directors of the Federal Deposit Insurance Corpora
tion shall prescribe from time to time; and any rate or rates which may be so pre
scribed by the Board will be set forth in supplements to this regulation, which will be
issued in advance of the date upon which such rate or rates become effective.
(b) Modification of contracts to conform to regulation. No certificate of deposit
or other contract shall be renewed or extended unless it be modified to conform to
the provisions of this regulation, and every insured nonmember bank shall take
such action as may be necessary, as soon as possible consistently with its con
tractual obligations, to bring all of its outstanding certificates of deposit or other
contracts into conformity with the provisions of this regulation.
(c) Savings deposits received during first five days of m onth. An insured non
member bank may pay interest on a savings deposit received during the first five
days of any calendar month at the applicable maximum rate prescribed pursuant to
the provisions of subsection (a) of this section, calculated from the first day of such
calendar month until such deposit is withdrawn or ceases to constitute a savings
deposit under the provisions of this regulation, whichever shall first occur.
(d) Continuance of time deposit status. A deposit which was a time deposit at
the date of deposit continues to be such until maturity although it has become pay
able within 30 days, and interest at a rate not exceeding that prescribed pursuant to
the provisions of subsection (a) of this section may be paid until maturity upon such
deposit. A time deposit or a savings deposit, with respect to which notice of with
drawal has been given, continues to be such until the expiration of the period of such
notice, and interest may be paid upon such deposit until the expiration of the period
of such notice at a rate not exceeding that prescribed pursuant to the provisions of
subsection (a) of this section. Interest at a rate not exceeding that prescribed pur
suant to the provisions of subsection (a) of this section may be paid upon savings
deposits with respect to which notice of intended withdrawal has not actually been
required or given. No interest shall be paid by an insured nonmember bank on any
amount which by the terms of any certificate or other contract, or agreement, or
otherwise, the bank may be required to pay within 30 days from the date on which
such amount is deposited in such bank,8 except as to savings deposits with respect
to which the bank consistently continues to adhere to a practice existing prior to
January 23, 1936, of requiring notice of at least 15 days before permitting with
drawal.
(e) No interest after maturity or expiration of notice. Exception. N o interest
shall be paid on any time or savings deposit for any period subsequent to maturity,
whether such deposit matures by its terms on a specific date or at the expiration of a
notice period pursuant to written notice actually given, except if a time certificate is
renewed within 10 days after maturity, the renewal certificate9 may draw interest
from the maturity date of the matured certificate.
S e c t io n 4
Paym ent of Time D eposits before M aturity
(a) Tim e deposits payable on a specified date. N o insured nonmember bank
shall pay any time deposit, which is payable on a specified date, before such specified
date, except as provided in subsection (d) of this section.
(b) Tim e deposits payable after a specified period. N o insured nonmember bank
shall pay any time deposit, which is payable at the expiration of a specified period,
before such period has expired, except as provided in subsection (d) of this section.
8D eposits, such as Christm as club accounts and v acation club accounts, w hich are made under w rit
ten con tracts p rovid in g that no w ithdraw al shall be made until a certain num ber o f periodic deposits
have been made during a period o f not less than 3 m onths, constitute “ tim e deposits, open a c c o u n t”
even th ou gh som e o f the deposits are made within 30 days from the end of such period.
9W here a tim e certificate is renewed w ithin 10 days after m aturity, the renewal certificate m ay be
dated back to the m aturity date o f the m atured certificate.
REGULATIONS
99
(c) Tim e deposits payable after a specified notice. No insured nonmember bank
shall pay any time deposit, with respect to which notice is required to be given a
specified period before any withdrawal is made, until such required notice has been
given and the specified period thereafter has expired, except as provided in subsection
(d) of this section.
(d) Loans upon security of time deposits. An insured nonmember bank may
make a loan to the depositor upon the security of his time deposit, provided that the
rate of interest on such loan shall be not less than 2 percent per annum in excess of
the rate of interest on the time deposit.
Where a loan to the depositor upon the security of his time deposit upon terms
satisfactory to the insured nonmember bank and the depositor cannot be arranged,
and where the depositor signs a written statement to be kept in the files of the bank
that he is in need of money represented by the time deposit before the maturity
thereof, stating the definite amount needed, the time deposit may be paid before
maturity to the extent required to meet such need, but the depositor shall forfeit
accrued and unpaid interest for a period of not less than three months on the amount
withdrawn. When a portion of a time certificate of deposit is paid before maturity,
the certificate shall be cancelled and a new certificate shall be issued for the unpaid
portion of the deposit, with the same terms, rate, date, and maturity as the original
deposit.
S e c t io n 5
Notice of Withdrawal of Savings Deposits
(a) Requirements regarding notice. An insured nonmember bank shall observe
the requirements set forth as follows in requiring notice of intended withdrawal of any
savings deposit or part thereof or in permitting withdrawal without requiring such
notice:
(1) If an insured nonmember bank pay any amount or percentage of the savings
deposits of any depositor without requiring such notice, it shall, upon request,
and without requiring such notice, pay the same amount or percentage, of
the savings deposits of every other depositor, subject to the same notice
requirement, except if the bank changes its practice in accordance with
subsection (b) of this section.
(2) If an insured nonmember bank requires such notice before the payment of
any amount or percentage of the savings deposits of any depositor, it shall
require such notice before the payment of the same amount or percentage
of the savings deposits of any other depositor, subject to the same notice
requirement, except if the bank changes its practice in accordance with
subsection (b) of this section.
Even though the bank’s practice is to require notice, an insured nonmember bank
is not prevented by this regulation from paying during the next succeeding interest
period without requiring notice of withdrawal interest on a savings deposit which
has accrued during the preceding interest period.
(b) Requirements regarding change of practice. No insured nonmember bank
shall change its practice with respect to the requiring or not requiring of notice of
intended withdrawal of savings deposits, except after duly recorded action of its
board of directors or of its executive committee properly authorized, and no practice
in this respect shall be adopted which does not conform to the requirements of
paragraphs (1) and (2) of this section.
(c) Change of practice for purpose of discrimination. N o change in the practice
of an insured nonmember bank with respect to the requiring or not requiring of
notice of intended withdrawal of savings deposits shall be made for the purpose of
discriminating in favor of or against any particular depositor or depositors.
(d) Requirements applicable although no interest paid. An insured nonmember
bank shall observe the requirements of this section with respect to savings deposits
even though no interest be paid on such deposits.
(e) Loans upon security of savings deposits. An insured nonmember bank may
make a loan to any of its depositors upon the security of his savings deposits, pro
vided that if the bank’s practice is to require notice before permitting withdrawal
of any amount or percentage of the savings deposits of any depositor, it shall require
like notice before permitting a loan on the security of the same amount or percentage
of such deposits.
100
FEDERAL DEPOSIT INSURANCE CORPORATION
A p p e n d ix
Statutory Provisions
Paragraph (8), subsection (v) of Section 12B of the Federal Reserve Act, as
amended, provides as follows:
(8)
The board of directors shall by regulation prohibit the payment of interest
on demand deposits in insured nonmember banks and for such purpose it may define
the term “ demand deposits” ; but such exceptions from this prohibition shall be
made as are now or may hereafter be prescribed with respect to deposits payable on
demand in member banks by section 19 of this Act, as amended, or by regulation
of the Board of Governors of the Federal Reserve System. The board of directors
shall from time to time limit by regulation the rates of interest or dividends which
may be paid by insured nonmember banks on time and savings deposits, but such
regulations shall be consistent with the contractual obligations of such banks to
their depositors. For the purpose of fixing such rates of interest or dividends, the
board of directors shall by regulation prescribe different rates for such payment on
time and savings deposits having different maturities, or subject to different condi
tions respecting withdrawal or repayment, or subject to different conditions by
reason of different locations, or according to the varying discount rates of member
banks in the several Federal Reserve districts. The board of directors shall by
regulation define what constitutes time and savings deposits in an insured non
member bank. Such regulations shall prohibit any insured nonmember bank from
paying any time deposit before its maturity except upon such conditions and in
accordance with such rules and regulations as may be prescribed by the board of
directors, and from waiving any requirement of notice before payment of any
savings deposit except as to all savings deposits having the same requirement. For
each violation of any provision of this paragraph or any lawful provision of such
regulations relating to the payment of interest or dividends on deposits or to with
drawal of deposits, the offending bank shall be subject to a penalty of not more than
$100, recoverable by the Corporation for its use.
Paragraph (7), subsection (c) of Section 12B of the Federal Reserve Act, as
amended, provides as follows:
(c) As used in this section—(7)
The term “ savings bank” means a bank (other than a mutual savings bank)
which transacts its_ ordinary banking business strictly as a savings bank under State
laws imposing special requirements on such banks governing the manner of investing
their funds and of conducting their business: Provided, That the bank maintains,
until maturity date or until withdrawn, all deposits made with it (other than funds
held by it in a fiduciary capacity) as time savings deposits of the specific term type
or of the type where the right is reserved to the bank to require written notice before
permitting withdrawal: Provided further, That such bank to be considered a savings
bank must elect to become subject to regulations of the Corporation with respect
to the redeposit of maturing deposits and prohibiting withdrawal of deposits by
checking except in cases where such withdrawal is permitted by law on the effective
date from specifically designated deposit accounts totaling not more than 15 per
centum of the bank’s total deposits.
REGULATIONS
M A X IM U M
101
R A T E S O F I N T E R E S T P A Y A B L E O N T I M E A N D S A V I N G S D E P O S IT S
B Y IN S U R E D N O N M E M B E R B A N K S
S U P P L E M E N T TO R E G U L A T IO N IV
Effective February / , 1936
Pursuant to the provisions of paragraph (8), subsection (v). Section 12B of the
Federal Reserve Act, as amended, and Section 3 of its Regulation IV , the Board of
Directors of the Federal Deposit Insurance Corporation hereby prescribes the
following maximum rates1 of interest payable by insured nonmember banks on
time and savings deposits:
(1) Maxim um rate of 2 Y2 percent. N o insured nonmember bank shall pay
interest accruing after February 1,1936, at a rate in excess of 23^> percent per annum,
compounded quarterly,2 regardless of the basis upon which such interest may be
computed,—
(a) On any savings deposit,
(b) On any time deposit having a maturity date six months or more after the
date of deposit or payable upon written notice of six months or more.
(c) On any Postal Savings deposit which constitutes a time deposit,
except that an insured nonmember bank may pay interest on any such deposits in
accordance with the terms of any certificate of deposit or other contract which was
entered into before February 1, 1936, (or, if the bank becomes an insured non
member bank thereafter, before the date upon which it becomes an insured non
member bank) which was in force on such date and which may not legally be term
inated or modified by such bank at its option and without liability.
(2) Maxim um rate of 2 percent. N o insured nonmember bank shall pay in
terest accruing after February 1, 1936, at a rate in excess of 2 percent per annum,
compounded quarterly, regardless of the basis upon which such interest may be
computed,—
(a) On any time deposit (except postal savings deposits which constitute time
deposits) having a maturity date less than six months and not less than
ninety days after the date of deposit or which is originally or becomes payable
upon written notice of less than six months and not less than ninety days,
except that an insured nonmember bank may pay interest on such deposits in
accordance with the terms of any certificate of deposit or other contract which was
entered into before February 1,1936, (or, if the bank becomes an insured nonmember
bank thereafter, before the date upon which it becomes an insured nonmember
bank) which was in force on such date and which may not legally be terminated
or modified by such bank at its option and without liability.
(3) Maximum rate of 1 percent. N o insured nonmember bank shall pay in
terest accruing after February 1, 1936, at a rate in excess of 1 percent per annum,
compounded quarterly, regardless of the basis upon which such interest may be
computed,—
(a) On any time deposit (except postal savings deposits which constitute time
deposits) having a maturity date less than ninety days after the date of
or which is originally or becomes payable upon written notice of less than
ninety days,
except that an insured nonmember bank may pay interest on such deposits in
accordance with the terms of any certificate of deposit or other contract which was
entered into before February 1,1936, (or, if the bank becomes an insured nonmember
bank thereafter, before the date upon which it becomes an insured nonmember
bank) which was in force on such date and which may not legally be terminated
or modified by such bank at its option and without liability.
(4) Banks which on January 23, 1936, have outstanding certificates of indefinite
maturities representing deposit liabilities drawing interest as savings deposits must
within one year from February 1, 1936, discontinue to pay thereon the rate applic
able hereunder to savings deposits unless meanwhile the same be converted into
savings deposits as defined in this regulation.
iT h e m axim um rates o f interest payable b y insured nonm em ber banks on tim e and savings deposits
as prescribed herein are not applicable to any deposit w hich is paya ble on ly at an insured n onm em ber
bank or at an office o f an insured nonm em ber bank loca ted outside o f the States o f the U nited States and
the D istrict o f C olum bia.
2Th is lim itation is not to be interpreted as preventing the com p ou n d in g o f interest at other than
q uarterly intervals, p rov id ed that the aggregate am ount o f such interest so co m p o u n d e d does not exceed
the aggregate am ou n t o f interest at the rate above prescribed when com p ou n d ed q u a rterly.
102
FEDERAL DEPOSIT INSURANCE CORPORATION
Miscellaneous rules, resolutions, and interpretations. In ad
dition to the regulations listed above, the Board of Directors during
1935 adopted the following rules and resolutions:
R U L E IN R E D E P O S IT S E V ID E N C E D B Y N E G O T I A B L E I N S T R U M E N T S
Adopted October 1, 1935
If any insured deposit obligation of a bank be evidenced by a negotiable certificate
of deposit, negotiable draft, negotiable cashier’s or officer’s check, negotiable cer
tified check or negotiable travelers check or letter of credit, the owner of such
deposit obligation will be recognized for all purposes of claim for insured deposits to
the same extent as if his name or interest was disclosed on the records of the bank
provided the instrument was in fact negotiated to such owner prior to the date of
the closing of the bank. Affirmative proof of such negotiation must be offered in
all cases to substantiate the claim.
R U L E IN R E R E P O R T I N G F O R A S S E S S M E N T P U R P O S E S D E P O S IT L I A B I L I T I E S
O F A B A N K W H I C H H A V E B EEN A S S U M E D B Y A N O T H E R B A N K
Adopted November 7, 1935
The deposit liabilities of one bank, if assumed by a second bank, will, except to the
extent that depositors of the first bank by affirmative action signify their express
intention to hold the first bank liable as debtor, be presumed for assessment pur
poses to cease being deposit liabilities of the first bank on the date the assumption
becomes effective and be presumed for assessment purposes to become deposit
liabilities of the second bank on the same date.
R E S O L U T IO N D E S I G N A T I N G A G E N T S O F T H I S C O R P O R A T I O N U P O N
W H O M S E R V IC E O F P R O C E S S M A Y B E M A D E .
Adopted December 21, 1 93 5
Resolved, That pursuant to the provisions of paragraph (4), subsection (j) of
Section 12B of the Federal Reserve Act, as amended, the following persons be and
they hereby are designated as agents for this Corporation upon whom service of
process may be made in the States set opposite their respective names and that
process against this Corporation issuing out of any court having jurisdiction in
such States shall be served upon the agent hereby designated for such State:
State
Address of designated
agent in said State
Designated agent
Alabama......... . . . Adams, Thomas F ..............
Arkansas. . . . . . . Clark, R ex .............................
..
California. . . . . . .
.,
Funsten, William P............
Supv. Examiner
Colorado. . . . . . . George, Leonard A ............
,,
Florida............ . . . Anderson, W m . S ................ , . .
Georgia............ . .. Roberts, W . Clyde............. . . .
Supv. Examiner
Illinois............. . . . McDowell, Wesley C ........ . . .
Supv. Examiner
Indiana............ . . . Ely, Kenneth P ...................
Iow a................. . . . Lettow, Frank A .................
Kansas............
,
Wilson, William M ............ . . .
1515 Milner Crescent
Birmingham
2500 Marshall Avenue
Little Rock
516 Federal Reserve Bank Bldg.
San Francisco
226 Republic Bldg.
Denver
Tallahassee
625 First National Bank Bldg.
Atlanta
625 Federal Reserve Bank Bldg
Chicago
817 Lincoln W a y West
Mishawaka
State Capitol Bldg.
Des Moines
P. 0 . Building
Salina
REGULATIONS
103
2066 Eastern Parkway
Louisville
Louisiana.............. Follett, Edw. Fownes............ , Baton Rouge
1404 Fidelity Bldg.
Maryland.............. Parkerson, W m . F ..................
Baltimore
Massachusetts. . . Stillman, H . M ......................... , Room 865, 10 P. 0 . Square
Boston
Supv. Examiner
Detroit-Leland Hotel
Michigan............... Horak, Joseph E ......................
Detroit
1030 Minnesota Bldg.
Minnesota............ Johnson, J. L ............................
Supv. Examiner......................
St. Paul
Walthall Hotel
Mississippi............ Rainer, Walton F ....................
Jackson
415 American Trust Bldg.
Missouri................ Sailor, Vance L .........................
Supv. Examiner
St. Louis
P. O. Building
Nebraska.............. Van Horn, Maurice K ...........
Lincoln
424 P. O. Building
New Jersey.......... DuBois, Nathan S..................
Trenton
518 Federal Reserve Bank Bldg.
New Y o rk ............. Penn, David V .........................
Supv. Examiner
New York City
807 Commercial National Bank
North Carolina. . Prillaman, Rufas A .................
Raleigh
North D ak ota. . . Peterson, C. F ..........................
Grand Forks
529 Huntington Bank Bldg.
Ohio........................ Stroefer, L. F ............................
Supv. Examiner
Columbus
Security National Bank Bldg.
Oklahoma............. Turner, Harry M ....................
Clinton
Oregon................... Stoner, Albert L ......................
404 Title & Trust Bldg.
Portland
Pennsylvania. . . . Bradley, Richard.....................
223 Schuylkill St.
Harrisburg
703 Carolina Life Ins. Co. Bldg.
South Carolina.. . Milne, W m . T ...........................
Columbia
Tennessee.............. Heflin, John J...........................
237 Buena Vista Place
Memphis
Federal Reserve Bank Bldg.
Texas...................... Davis, L. J.................................
Supv. Examiner
Dallas
U ta h ....................... Barton, Chesley.......................
Salt Lake City
Virginia................. Owens, Walter J......................
807 Central National Bank Bldg.
Supv. Examiner
Richmond
Washington......... Comer, Paul W ........................
403 Empire State Bldg.
Spokane
W est Virginia___ French, David E ., Jr.............
408 Charleston N a t’l Bank Bldg.
Charleston
Wisconsin.............. Hopkins, R. L ...........................
502 State Street
Madison
Supv. Examiner
K entucky.............. Kirby, Maurice H ...................
Further Resolved , That the right is reserved to revoke any designation hereby
made, and that the designation and authority of any agent, without further action
by this Corporation, shall be revoked forthwith upon termination of the employment
of such agent by this Corporation or upon the permanent assignment or removal
of such agent to another State.
104
FEDERAL DEPOSIT INSURANCE CORPORATION
REGULATIONS AND RULINGS OF THE BOARD OF GOVERNORS
OF THE FEDERAL RESERVE SYSTEM
During 1935 the Board of Governors of the Federal Reserve System
revised and reissued several of its regulations. Most of the revisions
were made necessary by provisions of the Banking Act of 1935. The
addition of clarifying amendments, interpretations, and rulings
accounted for the other changes. There follows a brief description
of each of the Board's revised regulations which affects the operations
of insured banks not members of the Federal Reserve System as well
as of banks members of the System.1 Complete texts of the regula
tions and rulings are available upon request at any of the Federal
Reserve banks and at the Washington office of the Board of Governors.
Regulation H— Membership of State banking institutions in the
Federal Reserve System. The revision of Regulation H relating to
membership of State banking institutions in the Federal Reserve
System became effective January 1, 1936. The revised regulation
incorporates a number of changes made necessary by recent amend
ments to the law. The standard conditions of membership to be
accepted by State institutions upon admission to the System were
revised and simplified.
Regulation P— Holding company affiliates— voting permits. Re
gulation P relating to holding company affiliates and voting permitswas amended, effective January 1, 1936, giving effect to certain
changes, chiefly of a technical nature, made necessary by amendments
to the law contained in the Banking Act of 1935.
Amendments to Regulation T— Extension and maintenance of
credit by brokers, dealers, and members of national securities
exchanges. Although Regulation T was not reissued by the Board
of Governors in 1935, six amendments to that regulation were ap
proved during the year. Of these amendments four became effective
on May 10, 1935, one on August 8,1935, and one on October 29,1935.
FORMS AND INSTRUCTIONS
There were no basic changes during 1935 in the forms or instructions
used by the Corporation in assembling reports of condition and reports
of earnings and dividends from insured State banks not members of the
Federal Reserve System. Owing to#the revised plan of assessment
provided for the permanent plan of insurance in the Banking Act of
1935, however, it was found necessary to revise the form of certified
statement used by insured banks to report their deposit liabilities,
and to provide forms to serve as basic supporting records for the cer
tified statement. These forms and instructions for their use are
reproduced below.
Basic records, Forms 555 and 556. Form 555, “ Tabulation of the
Assessment Base” , must be maintained and preserved as a permanent
record by all insured banks. Form 556, “ Schedule Supporting Tabula
tion of Assessment Base” , or a similar form showing substantially the
same information, must be kept by all insured banks to support the
l The attention of insured banks not members of the Federal Reserve System is directed also to Regulation
U, Loans by banks for the purpose of purchasing or carrying stocks registered on a national securities ex
change, approved by the Board of Governors effective May 1, 1936.
FORMS AND INSTRUCTIONS
105
item, “ Total deposit liabilities” , on Form 555, and by all banks desir
ing to take advantage of permissible deductions to support any items
of “ Deductions claimed” on Form 555. These forms and instructions
for their use are reproduced on pages 112-13.
Recapitulation of monthly totals, Form 555A. There is repro
duced on page 114 Form 555A, the recapitulation of monthly totals
from Form 555, which supports and is submitted with the certified
statement.
Certified statements, Forms 545A and 645A. Of these two forms,
which are reproduced with instructions on pages 110-11 and 115-17,
Form 545A is the certified statement submitted on January 15, 1936,
by banks which were insured at the inception of the permanent plan of
insurance on August 23, 1935, while Form 645A is the statement
submitted by banks becoming insured after August 23.
IN S T R U C T IO N S FOR P R E P A R IN G C ER TIF IED S T A T E M E N T —
PA R T T W O — AN D SU P P O R T IN G SCH EDULE
(For facsimile of forms see pages 112-13)
S T A T U T O R Y P R O VISIO N S
Paragraphs (1), (2), and (3) subsection (h), of Section 12B of the Federal Reserve
Act, as amended, provide in part as follows:
(1) “ * * * Each insured bank shall, as a condition to the right to deduct
any specific uncollected item in determining its assessment base, maintain such
records as will readily permit verification of the correctness of the particular
deduction claimed. The Certified Statements required to be filed with the Cor
poration * * * shall be in such form and set forth such supporting information
as the board of directors shall prescribe. * * *
(2) “ On or before the 15th day of July of each year, each insured bank
shall file with the Corporation a Certified Statement under oath showing for
the six months ending on the preceding June 30 the amount of the assess
ment base and the amount of the semiannual assessment due to the Corpora
tion, determined in accordance with paragraph (1) of this subsection. Each
insured bank shall pay to the Corporation the amount of the semiannual as
sessment it is required to certify. On or before the 15th day of January of
each year after 1936 each insured bank shall file with the Corporation a
similar Certified Statement for the six months ending on the preceding Dec
ember 31 and shall pay to the Corporation the amount of the semiannual
assessment it is required to certify.
(3) “ Each bank which becomes an insured bank according to the provi
sions of subsection (e) or (f) of this section shall, on or before the 15th day of
November 1935, file with the Corporation a certified statement under oath
showing the amount of the assessment due to the Corporation for the period
ending December 31, 1935, which shall be an amount equal to the product of
one-third the annual assessment rate multiplied by the assessment base deter
mined in accordance with paragraph (1) of this subsection, except that the
assessment base shall be the average for the 31 days in the month of October
1935, and payment shall be made to the Corporation of the amount of the
assessment so required to be certified. Each such bank shall, on or before the
15th day of January 1936, file with the Corporation a certified statement under
oath showing the amount of the semiannual assessment due to the Corporation
for the period ending June 30, 1936, which shall be an amount equal to the
product of one-half the annual assessment rate multiplied by the assessment
base determined in accordance with paragraph (1) of this subsection, except
that the assessment base shall be the average for the days of the months of
October, November and December of 1935, and payment shall be made to the
Corporation of the amount of the assessment so required to be certified.”
106
FEDERAL DEPOSIT INSURANCE CORPORATION
G ENERAL
The form of Certified Statement consists of two parts. Part one is a summary of
the computations for determining the assessment and the amount due. Part two
is a supporting schedule for the summary. These forms which are prescribed
pursuant to law make it necessary that the banks maintain records which will be
adequate to reflect their total deposit liabilities as of the close of each calendar day
and the total of deductions claimed.
These instructions relate to the manner of tabulating the information for Part
two of the Certified Statement.
ON OR BEFO R E N O V E M B E R 15, 1935, banks continuing as insured banks
shall certify an assessment base which shall be the average for the 31 days in the
month of October, 1935, of the difference at the end of each calendar day, between
the total amount of liability of the bank for deposits (without any deduction for
indebtedness of depositors) and the total of such uncollected items as are included
in such deposits and credited subject to final payment. The assessment payable
based on this Certified Statement is for the four months ending December 31, 1935.
ON OR B EFO R E J A N U A R Y 15, 1936, banks which continued to be insured
banks after the effective date of the Banking Act of 1935 and which were required
to file a Certified Statement on or before November 15, 1935, shall certify an assess
ment base which shall be the average for the three months .ending December 31,
1935, of the differences at the end of each calendar day between the total amount
of the liability of the bank for deposits (without any deduction for indebtedness
of depositors) and the total of such uncollected items as are included in such deposits
and credited subject to final payment. The assessment payable based on this
Certified Statement is for the six months ending June 30, 1936.
The information accumulated for the month of October must be retained for use
by the bank in computing the assessment due for the six months ending June 30,
1936, based on the average deposits for the three months ending December 31, 1935.
The Certified Statement, Part one, to be filed on or before November 15, 1935,
shall be computed on daily balances for the month of October only. Subsequent
Certified Statements, except the one required to be filed on or before January 15,
1936, shall be computed on daily balances for each semiannual period ending June
thirtieth and December thirty-first. The a m o u n ts to be included as daily
balances for Sundays and holidays shall be the sam e as those for the pre
ceding business day.
FO R M S
Necessary forms, furnished by the Corporation, are as follows:
Form 555 C E R TIF IE D S T A T E M E N T — P A R T T W O — T a b u latio n of A ssess
m en t Base.
Form 556 C E R TIF IE D S T A T E M E N T — PA R T T W O — Schedule Supporting
T a b u latio n of A ssessm en t Base.
Form 555 M U S T be maintained and preserved as a permanent record by all
insured banks.
Form 556, or a similar form showing substantially the same information and
sufficient to support the item of “ Total Deposit Liabilities” on Form 555 must be
maintained and preserved by all insured banks. The record must show the daily
balances of the respective deposit liability accounts and the total thereof, in support
of the daily total of such items shown on Form 555.
Form 556, or a similar form showing substantially the same information and suffi
cient to support any items of “ Deductions Claimed” on Form 555, must be main
tained and preserved by all insured banks only if the bank desires to take advantage
of permissible^deductions. If this or a similar form is not maintained and preserved
by the bank, its assessment must be based on its total deposit liability without any
deductions otherwise permitted.
A bank operating branch offices must include in its Certified Statement a consoli
dated summary for all of its branches for the purpose of determining the assessment
base. The bank should advise this Corporation of the names and locations of the
home office and branch offices whose Certified Statements are so consolidated.
FORMS AND INSTRUCTIONS
107
D EPO SITS
Column A. Total Deposit Liabilities. The totals for the purpose of computing
the assessment base shall include all commercial, checking, savings, time, thrift
accounts, certificates of deposit, officer’s or cashier’s checks, traveler’s checks,
certified checks, outstanding drafts, and letters of credit. Also by express provision
of law (see Section 1 of Regulation I) such totals shall include trust funds held in
the trust department or on deposit in any other department of the bank or re
deposited in other banks.
All the ite m s described m u st be included regardless of w hether they are
secured or unsecured or represent private, public, govern m en t or postal
savings deposits.
The totals used under this heading must be supported by a tabulation, Form 556,
or other appropriate record in such form that the Corporation’s representatives
may readily trace the various items included therein to the general books of the
banking institution.
D E D U C T IO N S
No deduction may be made from total deposit liabilities of any item unless in
cluded in total deposit liabilities reported in Column A.
C olu m n B. Local Exchanges. Items included in the amounts reported for
total deposit liabilities in Column A, which are represented by checks drawn on
local banks and are credited subject to final payment, may be taken as a deduction
in Column B if uncollected at the close of the business day during which they were
received. Such items may not be presumed to be uncollected for a period longer
than one day. (See Section 3 of Regulation II.)
C olu m n C. O utside Exchanges. Items included in the amounts reported
for total deposit liabilities in Column A, which are represented by checks drawn
on out of town banks and are credited subject to final payment, may be taken as a
deduction in Column C while they remain uncollected, provided that they shall be
deemed to be collected within a period not exceeding the time required for collection
provided for in the Federal Reserve time schedule. (See Section 2 of Regulation II.)
Federal Reserve time schedules referred to in Regulation II may be obtained
from the Federal Reserve Bank in the district in which the bank is located.
C olu m n D . Re-deposited T ru st Funds. Trust funds held by an insured
bank as trustee, executor or in any other fiduciary capacity, which are re-deposited
in another insured bank, may be taken as a deduction in Column D , provided
these amounts have been included in total deposit liabilities in Column A. (See
paragraph (9), subsection (h), Section 12B of the Federal Reserve Act, as amended.)
Deduction may not be made for re-deposited trust funds if it is the practice of the
bank to intermingle with its trust funds any funds held in other than a fiduciary
capacity.
C o lu m n E. In ter-B ran ch A ccou n ts. Banks having branches and including
inter-branch accounts in subsidiary deposit ledgers rather than as separate accounts
on the general ledger, may deduct such inter-branch accounts by inserting the
amounts thereof in Column E, provided these amounts have been included in total
deposit liabilities in Column A.
To avoid deposit liability of the same bank being included twice, any item repre
senting a deposit liability payable at a main office or branch of a bank or checks
drawn by a depositor in such main office or branch, if deposited in a different office
or branch of the same bank, may be taken as a deduction from the time of such
deposit until finally cleared.
C olu m n F. O ther D eductions. Certain other items, such as outstanding
drafts, cashier’s or officer’s checks issued for the payment of expenses, repayment
of borrowed money, etc., which do not represent deposit liabilities as defined in
Regulation I, may be taken as a deduction in Column F provided they have been
included in Column A.
C olu m n G . Total D edu ctions. The total of the items included in columns
B to F inclusive, should be entered in Column G.
108
FEDERAL DEPOSIT INSURANCE CORPORATION
C olu m n H. Deposits for Assessm ent Base. The difference between the
total deposit liabilities shown in Column A and the total deductions shown in Column
G should be entered in Column H.
SU P P L E M E N TA L IN S T R U C T IO N S
FOR P R E P A R IN G C E R TIF IE D S T A T E M E N T — P A R T T W O
{These instructions are supplemental to, and in clarification of, the complete
instructions fo r the preparation of Certified Statement— Part Two
previously sent to all insured banks.)
FO R M 555, C E R T IF IE D S T A T E M E N T — PA R T T W O , T A B U L A T IO N OF
AS SE S SM E N T BASE, M U ST BE M A IN T A IN E D C O N T IN U O U S L Y B Y A L L
IN S U R E D B A N K S .
Insured banks must file Certified Statements with the Federal Deposit Insurance
Corporation between January first and January fifteenth and between July first and
July fifteenth of each year.
The statement to be filed on or before January fifteenth shall reflect an assessment
based on the average daily deposit liabilities for the six months ending on the pre
ceding December thirty-first. The assessment, payable in advance, is for the six
months ending on the succeeding June thirtieth.
The statement to be filed on or before July fifteenth shall reflect an assessment
based on the average daily deposit liabilities for the six months ending on the pre
ceding June thirtieth. The assessment, payable in advance, is for the six months
ending on the succeeding December thirty-first.
T O T A L D EPO SIT L IA B IL IT IE S
Total deposit liabilities, whether public or private, secured or unsecured, must be
included in determining the assessment base.
The amounts to be included as daily balances for Sundays and holidays shall be
the same as those for the preceding business day.
O u tstan d in g drafts. Outstanding drafts drawn on a correspondent or a
Federal Reserve bank, other than those issued for purposes of the bank’s own trans
actions, such as payment of its expenses, transfer of its own funds, etc., must be
included as deposit liabilities for the actual number of days during which such items
are outstanding. (See Section 2 of Regulation I.)
The amount of deposit liabilities arising from the issuance of drafts must be added
to the amount of deposits Reflected by the bank’s books and included in Column A
of Form 555, even if legally authorized deductions are not claimed.
Overdrafts and “ Cash ite m s” . Overdrafts are not deductible. If control
accounts for deposit liabilities have been reduced by the amount of overdrafts, the
aggregate amount of such items must be added to the balance shown by the bank’s
books as of the close of business each day.
“ Cash items” are not deductible.
A ccou n ts in excess of $5,000.00. The entire amount of deposit liabilities,
without regard to the insurance limitation of $5,000.00 for the individual depositor,
must be included in determining the assessment base. N o deduction may be
claimed for the amounts of accounts in excess of $5,000.00.
Federal Reserve deferred credit accou nt. The daily balance of the Federal
Reserve deferred credit account due to a Federal Reserve bank must be included as
a deposit liability. Drafts drawn on a Federal Reserve bank and credited to this
account may be eliminated from the balance of the deferred credit account reported
as a deposit liability. Drafts representing deposit liabilities in accordance with
Section 2 of Regulation I must be included in deposit liabilities as outstanding drafts
for the actual number of days they are outstanding.
FORMS AND INSTRUCTIONS
109
D E D U C T IO N S
N o deduction may be taken for any item not included in total deposit liabilities.
It is not mandatory ffeat banks claim the deductions authorized by law.
deductions claimed must be in accordance with regulations relating thereto.
Any
Outstanding drafts representing deposit liabilities must be included as deposit
liabilities regardless of whether deductions are claimed for items in process of collec
tion.
IT E M S IN PRO CESS OF C O LLE C TIO N
Items credited to a deposit account, subject to final payment, may be claimed as a
deduction for the actual number of days during which such items remain uncollected,
provided that in no event shall the deduction be claimed for a period which exceeds
the time allowed by the current Federal Reserve time schedule for items drawn on
similar points.
Item s n o t credited to a deposit accoun t. No deduction may be claimed for
items which have not been credited to a deposit account, such as items cashed over
the counter, items representing a bank’s own float, or items not credited to a deposit
account until the collection is made.
Item s n ot payable upon presentation . No deduction may be claimed for
items such as bonds, coupons, time drafts, etc., which are not payable upon presen
tation, although they have been credited to a deposit account subject to final pay
ment.
IN S T R U C T IO N S FOR P R E P A R IN G
C E R TIF IE D S T A T E M E N T — PA R T ONE
Form 545
(For facsimile of form see page 115)
Item s A to H, inclusive. Enter for the respective items, the aggregate amount
of deposit liabilities and deductions claimed for the thirty-one days of October 1935,
extended to the nearest dollar, as shown by the respective columns, A to H inclusive,
on the Certified Statement— Part Two, Tabulation of Assessment Base, Form 555.
Item s I to M , inclusive. Follow the instructions stated on the Certified State
ment, Part One, Form 545, for each of the respected items and extend computations
to the nearest cent.
Certification. The certification must be completed in every respect and acknow
ledged before a notary public.
IN S T R U C T IO N S FOR P R E P A R IN G
C ER TIF IED S T A T E M E N T — P A R T ONE
F orm s 645 and 645A
(For facsimile of forms see page 116-17)
Item s A to H , inclusive. Enter for the respective items, the aggregate amount
of deposit liabilities and deductions claimed for the first thirty-one days of operation
as an insured bank, extended to the nearest dollar, as shown by the respective col
umns A to H , inclusive, on the Certified Statement— Part Two, Tabulation of
Assessment Base, Form 555.
Item s I and J. Follow the instructions stated on the Certified Statement, Part
One, Form 645. Extend the computation of item I to the nearest dollar and item
J to the nearest cent.
Certification. The certification must be completed in every respect and sworn
to before a notary public.
110
FEDERAL DEPOSIT INSURANCE CORPORATION
F IR S T CE R TIF IE D S T A T E M E N T
The certified statement must be filed on or before the forty-fifth day after the
first day of operation as an insured bank. This certified statement shall show
an assessment base which shall be the average for the first thirty-one days of opera
tion as an insured bank of the differences at the end of each calendar day between
the total amount of liability of the bank for deposits (without any deduction for
indebtedness of depositors) and the total of such uncollected items as are included in
such deposits and credited subject to final payment.
The assessment to be certified shall be the prorated portion of a six months assess
ment. This prorated portion shall be computed by multiplying the amount equal
to the product of
of l/1 2 th of 1 percent of the average daily deposit liabilities so
certified, by a ratio having as denominator the number of days in the six months
period ending on the June 30th or December 31st following its first day of operation
as an insured bank, and having as numerator the number of days from and including
its first day of operation as an insured bank to and including the next succeeding
June 30th or December 31st.
E x am p le:
A bank beginning operation as an insured bank on September 5, 1935, and cer
tifying to an assessment base of $100,000.00 (Item I), would be required to certify
and pay an assessment of $26.72 (Item J), computed as follows:
Item J— Assessment:
(1) Number of days from and including its first day of operation as an insured
bank to and including the next succeeding June 30th or December 31st, 118
(2) Number of days in the six months period ending on the next succeeding June
30th or December 31st, 184
(3) Ratio of (1) to (2) =
(4)
Jg® =
.6413
of l/1 2 th of 1 percent of assessment base, Item I
( $ 100, 000. 00)
=
$41.66
(5) Assessment remitted herewith ($41.66, obtained in (4) above, multiplied by
.6413, obtained in (3) above) =
$26.72
The assessment payable based on this certified statement will be for the period
from the first day of operation as an insured bank to the next succeeding June 30th
or December 31st.
SECOND C E R TIF IE D ST A T E M E N T
The second certified statement for a bank becoming an insured bank after August
23, 1935, (except one becoming an insured bank in the month of June or December)
must be submitted on or before the next succeeding January 15th or July 15th, after
the bank became an insured bank. This certified statement shall show an assessment
base which shall be the average for the days between its first day of operation as an
insured bank and the last day of the next succeeding June or December of the diff
erences at the end of each calendar day between the total amount of the liability of
the bank for deposits (without any deduction for indebtedness of depositors) and
the total of such uncollected items as are included in such deposits and credited
subject to final payment. The number of days used in determining the average
shall not be less than thirty-one.
The assessment to be certified shall be H of l/1 2 th of 1 percent of the assessment
base so certified. The assessment payable based on this certified statement is for
the six months ending on the last day of the next succeeding June or December after
the date on which this certified statement is required to be filed.
The second certified statement for a bank becoming an insured bank in the month
of June or December shall show an assessment base which shall be the average for
the first thirty-one calendar days it operates as an insured bank and shall show an
assessment equal to
of l/1 2 th of 1 percent of such assessment base. Such bank
shall be required to file its certified statement and pay the assessment shown thereon,
on or before February 15th or August 15th after becoming an insured bank. The
assessment base will be the same as the assessment base for the first certified state
ment. There will be a difference in the determined assessment because the first
assessment is for only the prorated portion of a semiannual period whereas the second
assessment will be for a full semiannual period.
REGULATIONS
111
The assessment payable based on this certified statement will be for the six
months ending on the last day of the next succeeding June or December after the
date on which this certified statement is required to be filed.
T H IR D AN D SU C C EED IN G C E R T IF IE D ST A T E M E N T S
Each bank becoming an insured bank after August 23, 1935, will be required to
file a certified statement not later than each July 15th and January 15th after it has
filed its second certified statement. Such subsequent certified statements required
by the provisions of paragraph (2) subsection (h), Section 12B of the Federal Re
serve Act, as amended, shall show an assessment base which shall be the average for
the six months period ending on June 30th or December 31st of the differences at the
end of each calendar day between the total amount of the liability of the bank for
deposits (without any deduction for indebtedness of depositors) and the total of
such uncollected items as are included in such deposits and credited subject to final
payment. The assessments payable on such certified statements will be for the six
months ending on June 30th or December 31st, following the date the certified
statement is required to be filed.
112
Form SS5
Federal Deposit Insurance
Corporation
C E R T IF IE D S T A T E M E N T -P A R T T W O
T A B U L A T IO N O F A S S E S S M E N T B A S E
(This form prescribed by Resolution of the Board of Directors of Federal Deposit Insurance Corporation)
DATE
(A)
T O T A L D E P O S IT
L IA B IL IT IE S
(B)
LOCAL
EXCHANGES
(C)
O U T S ID E
EXCHANGES
D E D U C T I O N S
(D)
R E -D E P O S IT E D
TRU ST FU N D S
M O N TH
O F ________________________ 19
C L A I M E D
(E)
I N T E R -B R A N C H
ACCOUNTS
(F)
OTHER
D E D U C T IO N S
(G
)
T O T A L D(E D U C TlIO N S CL.A IM E D
(H)
D E P O S IT S F O R
ASSESSM ENT
BASE
FEDERAL
B A N K ____________________________________
DEPOSIT
1
2
INSURANCE
3
4
5
CORPORATION
6
28
29
30
31
Tital
THIS TABULATION MUST BE RETAINED BY THE BANK AS A PERMANENT RECORD
Form 55 6
Federal Deposit Insurance
Corporation
C E R T IF IE D S T A T E M E N T -P A R T T W O
S U G G E S T E D FO R M F O R
S
chedule
S
T a b u l a t io n
u p p o r t in g
of
Assessm
Ba se
ent
B A N K __________________________________________ M O N TH O F ________________________ 1 9 _
Detail of Total Deposit Liabilities or Deductions Claimed* Shown on Tabulation of Assessment Base (Form 555)
4
3
2
1
5
7
6
9
8
10
TO TAL
1
AND
2
FORMS
Date
3
INSTRUCTIONS
4
5
6
27
28
29
30
31
Tatal
....r-.
Use
SEPARATE
SH EETS
LEDGER
FOR
■
TOTAL
ACCOUNTS
D E P O S IT
ARE
""—
L IA B IL IT IE S
C O M B IN E D
FOR
AND TO TAL
ANY
ITEM
OF
SH O W N
...............
EACH
ON
CLASS
THE
OF
D E D U C T IO N S
T A B U L A T IO N
FOR
C L A IM E D
ASSESSM ENT
W HERE
TW O
B A S E -F O R M
OR
MORE
555.
GENERAL
I— 1
00
114
Form 55SA
- oderol Deposit Insurance
Corporation
RECAPITULATION
O F T H E M O N TH LY TOTALS OF C E R TIFIE D S T A T E M E N T -P A R T TWO
FOR T H E M O N TH S OF OCTOBER, N OVEM BER AN D DECEMBER 1 9 3 5
BANK
D E D U C T I O N S
(A )
TOTAL DEPOSIT
LIABILITIES
(B )
LOCAL
EXCHANGES
(C )
OUTSIDE
EXCHANGES
(D )
RE-DEPOSITED
TRUST FUNDS
C L A I M E D
(E )
INTER-BRANCH
ACCOUNTS
(H )
(F )
OTHER
DEDUCTIONS
(G )
TOTAL DEDUC
TIONS CLAIMED
DEPOSITS FOR
ASSESSMENT BASE
Oct.
FEDERAL
MONTH
OF
DEPOSIT
Nov.
Dec.
Total
CORPORATION
THIS RECAPITULATION MUST BE RETAINED BY THE BANK AS A PERMANENT RECORD
INSURANCE
INSTRUCTIONS
Insert the totals accumulated on Form 555 in the respec
tive columns on this form for each of the months of
October, November and December 1935. Add the amounts
shown in the columns and insert the aggregate amounts
o h Form 545A.
Extend the figures to the nearest dollar
115
FORMS AND INSTRUCTIONS
Series
Form 5 4 5A
Federal Deposit Insurance
Corporation
O R IG IN A L
N o ......................................
C ER TIF IED S T A T E M E N T — PAR T ONE
Based on D eposits for the M o n th s of O ctober, Novem ber and D ecem ber, 1935
This Certified Statement must be filed with the
Federal Deposit Insurance Corporation, Washington, D . C.
ON OR BEFORE J A N U A R Y 15, 1936
(N am e of bank)
(Location)
Item
E n te r t o t a ls
s h o w n in
C o lu m n s A to H
o n F orm 555A ,
e x ten d ed to
n e a r e st d o lla r .
C o m p u t a t io n s
to be ex te n d e d
to n e a r e st
c e n t.
s
SUM M ARY
____________ Aggregate of D aily Totals
Total Deposit Liabilities..............
Deductions Claim ed:
Local Exchanges......... „ ............
Outside Exchanges...................
Re-deposited Trust Funds....
Inter-Branch Accounts..........
Other Deductions Authorized
by Law..
Total Deductions Claimed (Item s B to F ) ............. .
Deposits for Assessment Base (Item A minus Item G )
Assessment Base
(Item H divided by 92— extended to nearest dollar)..
(One half (Y^) of one twelfth (1 /1 2 ) of one per cent (1 % ) of
Item I,
41 2 /3 cents for each $1000
of assessment base)..................
K Unused Credit from Assess
ment Previously Paid R e
maining on the Books of the
Corporation...... ........... ........ .....
.................................... ...................
L Remittance Enclosed Herewith (Am ount equal to excess of
Item J over Item K ) ...................... ........... ................ ........... ..............
M Unused Credit to be Applied to Subsequent Assessments
(Am ount equal to excess of Item K over Item J ) ..................
Pursuant
to
Section
C E R T I F I C A T IO N
12B (h) of the Federal Reserve A ct, as amended, it is hereby certified by
(N am e of banking institution)
(C ity)
___ ___________ _______________ ____ - ................. ............ .....that its average daily deposit liabilities, less the
(State)
claimed deductions authorized by law, for the ninety-two calendar days o f the months of October,
November and Decem ber, 1935 amounted to ....................................... ................................................ ...........................
(Insert amount in words)
........................ .................... ............................. ..................-.............. ($.............-.... -.... .......................... )
and the assessment due to the Corporation for the six months ending June 30, 1936, amounted to
(Insert amount in words)
(N am e o f banking institution)
By.
(Signature of officer)
(Officer’s title)
......... ...............
..........appeared
day o f........
..... ..........
Personally
before
me...............................
this
1936,
..................................................................................................................known to me to be the........... ...................................
(N am e of officer)
(Officer’s Title)
and upon being duly sworn, says that the foregoing statement is true to the best of his knowledge
and belief.
N O T A R IA L
State o f......................... ...........................................................................................................................
(N otary Public)
SEAL
County of............................ ..................... —M y Commission Expires......................................
D O N O T W R I T E IN S P A C E B E L O W
C O R R E C T IO N S
Signature and oath checked
Summary and C. S. compared
Entered
..Item
..Item
..Item
Item
Item
Item
G
H
I
J
L
M
□
............... ....................................................
NOTE.— This form is to be prepared in quadruplicate. Return all except last copy to Federal Deposit
Insurance Corporation, Washington, D . C. Retain quadruplicate for your files.
R E T U R N T H I S C O P Y T O F E D E R A L D E P O S IT IN S U R A N C E C O R P O R A T IO N
116
FEDERAL DEPOSIT INSURANCE CORPORATION
Series................................
^ J
, Form 645
Federal Deposit Insurance
Corporation
O R IG IN A L
N o ......................................
FIR ST C ERTIFIED ST A T E M E N T — PAR T ONE
For A Bank Becom ing An Insured Bank After A u gu st 23, 1935
Based on Deposits for the First T h irty -O n e Days of Its O peration as an
Insured Bank
This Certified Statement must be filed with the
Federal Deposit Insurance Corporation, Washington, D . C.
On or Before the F orty-F ifth Day After Its First Day of O peration as an
Insured Bank
(Nam e o f bank)
(Location)
Item and
SU M M AR Y
Instruction
Number
___________ Aggregate of D aily Totals
Total Deposit Liabilities.....
Deductions Claim ed:
Local Exchanges..................
Outside Exchanges.............
Redeposited Trust Funds
Inter-Branch Accounts.....
Other Deductions Authorized
by law.
Total Deductions Claimed (Item s B to F inclusive)...............
H Deposits for Assessment Base (Item A minus item G ) ..................
I
Assessment Base
(Item H divided by 3 1 ) .................. .........................................................
J
Assessment:
(1) Number o f days from and including its first day of
as
operation as an insured bank to and including the next
^ to
next succeeding June 30th or December 3 1 s t ,..................
gJo (2) Num ber of days in the six months period ending on the
S i—
succeeding June 3oth or December 31st,..............................
(3) Ratio of (1) to ( 2 ) = ----------------------- = ----------------------(4) Yi o f l / 1 2 th o f 1 % of Assessment Base, (Item I)
[Jjsc
<*>
= $
(5) A s s e s s m e n t r e m it t e d h e re w ith (Am ount obtained
in (4) above multiplied by ratio obtained in (3) a b o ve...
C E R T IF IC A T IO N
Pursuant
to
Section
1 2 B (h) of the Federal Reserve A ct, as amended, it is hereby certified by
(N am e of banking institution)
(C ity)
............ ................. ................................... ............................that its first day of operation as an insured bank was
(State)
on........ ........................................ ...................... ....... ............... , and that its average daily deposit liabilities, less
(M on th )
(D a y
(Year)
the claimed deductions authorized by law, for the first thirty-one calendar days of its operation as
an insured bank amounted t o ......... ...... ............................ ......................................................................................................
(Insert amount in words)
...................................................... ................... ...... ....... .................. ($...................
................ ...........)
and the assessment due to the Corporation for the period from its first day of operation as an insured
bank to the next succeeding June 30th or December 31st, amounted to.............................................................
(Insert amount in words)
........... -.................................. ($.................................-----...... ..... )
(N am e of banking institution)
B y..
(Signature of officer)
(Officer’s title)
Personally appeared before me this....................................day o f..................................... .............., 19...................
— ............ ................... ......... ........... ...................................................... known to me to be the._____ ______ ________ _____
(N am e of officer)
(Officer’s title)
and upon being duly sworn, says that the foregoing statement is true to the best o f his knowledge
and belief.
S ig n a tu r e ..........................................................................................
N otary Public, State of........... ................................................ .
N O T A R IA L
County of. ................................. ........................................................
SEAL
M y commission expires..................................................................
_________
D O N O T W R IT E IN S P A C E B E L O W
_____
Corrections
....................Item G
□
$......................................... ...........................
....................Item H
□
....................................................................
.................. Item I
□
....................... .............................................
Item J
□
....................... ......................................... .
N O T E .— This form is to be prepared in quadruplicate. Return all except last copy to Federal D eposit
Insurance Corporation, W ashington, D . C. Retain quadruplicate for your files.
R E T U R N T H I S C O P Y T O F E D E R A L D E P O S IT IN S U R A N C E C O R P O R A T I O N
Signature and oath checked
Schedule and C. S. compared
Entered
117
FORMS AND INSTRUCTIONS
Series................................
Form 6 4 5 A
Federal Deposit
Insurance Corporation
XT
O R IG IN A L
.No......................................
SECOND C ER TIF IED ST A T E M E N T — P AR T ONE
For A Bank B ecom ing An Insured Bank After A ugust 23, 1935
Based on Deposits for the Days Between Its First Day of O peration as an
Insured Bank And the Last Day of the Next Succeeding June or D ecem ber
This Certified Statement must be filed with the
Federal Deposit Insurance Corporation, Washington, D . C.
ON OR B E F O R E ...........................................
(Nam e of bank)
(Location)
SU M M AR Y
___________
Aggregate of D aily Totals
Item
Total Deposit Liabilities..............
Deductions Claim ed:
Local Exchanges._____ _______
Outside Exchanges..................
Redeposited Trust Funds......
Inter-Branch Accounts..........
Other Deductions Authorized
b y L a w ........................ ............... _______ _________
Total Deductions Claimed (Item s B to F inclusive)
Deposits for Assessments Base (Item A minus item G ).
Vh
i
Assessment Base (Extended to nearest dollar)
(Num ber of days from and
Item H divided b y ...................
including the first day of operation as an insured bank to
and including................................................... .......................................)
Assessment (Extended to nearest cent.) K of 1 /1 2 of \ % of
Assessment Base (Item I ) ....................
A R E M I T T A N C E F O R T H E A M O U N T O F T H E A S SE SS
M E N T ( I T E M J) M U S T A C C O M P A N Y T H IS C E R T I F I E D
STATEM ENT.
/A
E n te r t o t a ls
sh o w n in
C o lu m n s A to
H on F orm
555
e x te n d e d to
n e a re st d o lla r
I
IB
1C
/ D
\ E
IF
1
(G
Pursuant to
Section
C E R T I F I C A T IO N
12B (h) o f the Federal Reserve A ct, as amended, it is hereby certified by
(C ity)
.that its average daily deposit liabilities, less the
(State)
claimed deductions authorized by law, for the— ................................................................. calendar days o f
its operation as an insured bank amounted to _____________________________________ ____ ____________________
(Insert amount o f Item I in words)
(N am e o f banking institution)
.............................................................. -.................
-................($-.................
........................... )
and the assessment (Item J) due to the Corporation for the six months period ending..............................
amounted to..
(Insert amount in words)
-
........
.................................................
($-
(N am e of banking institution)
B y..
(Signature of officer)
(Officer’s title)
....... .............day o f........ ............................................., 19.................. ,
Personally appeared before me this..
........................................................ ...................... ....................... .........known to me to be the................. ..............................
(N am e o f officer)
(Officer’s title)
and upon being duly sworn, says that the foregoing statement is true to the best of his knowledge
and belief.
N O T A R IA L
State of...................................................................................... .....................................
(N otary Public)
SE A L
County o f.......... .......... .............................
M y Commission Expires........
D O N O T W R I T E IN S P A C E B E L O W
C O R R E C T IO N S
Item G □
$~
Item H □
Item I
□
Item J □
N OTE- -T his form is to be prepared in quadruplicate. Return all except last copy to Federal Deposit
Insurance Corporation, Washington, D . C. Retain quadruplicate for your files.
R E T U R N T H I S C O P Y T O F E D E R A L D E P O S IT IN S U R A N C E C O R P O R A T I O N
Signature and oath checked
Schedule and C . S. compared
Entered
PART FIVE
STATISTICS OF BANKS AND DEPOSIT INSURANCE
E X P LA N A TO R Y NOTE
Sources of data. With the exceptions noted below, all figures relating to national
banks were obtained from the Comptroller of the Currency or the Board of Gover
nors of the Federal Reserve System; figures relating to State banks members of the
Federal Reserve System were obtained from the Board of Governors; and figures
relating to insured banks not members of the Federal Reserve System were obtained
from the banks themselves. Data relating to noninsured banks were obtained from
the Board of Governors of the Federal Reserve System or from Rand M cN ally
Bankers D irectory.
Average deposit figures used in Tables 114 to 120, inclusive, were reported to the
Federal Deposit Insurance Corporation by all insured banks upon certified state
ments submitted in connection with insurance assessments.
Data concerning insured banks in receivership were taken from the records of the
Federal Deposit Insurance Corporation.
Classification of banks. “ Commercial banks” includes the following groups of
banks: national banks, State (commercial) banks, loan and trust companies, stock
savings banks, private banks under State supervision, and insured industrial and
Morris Plan banks. The term “ commercial State banks” is used to designate all
commercial banks (as defined above) exclusive of national banks.
The term “ insured banks” is used to include all banks insured by the Federal
Deposit Insurance Corporation; the term “ noninsured banks” to include all banks
not so insured.
The figures for banks not members of the Federal Reserve System used in this
Report differ from those compiled by the Board of Governors of the Federal Reserve
System due to the inclusion here of some insured industrial banks which are excluded
from figures compiled by the Board of Governors.
The classification of mutual savings banks conforms with that adopted by the
Board of Governors of the Federal Reserve System except for one bank classified as a
mutual savings bank by that Board which is insured and classified by the Federal
D eposit Insurance Corporation as a commercial bank. Inclusion of banks in the
tables as mutual savings banks does not indicate that they are eligible in every case
for insurance as mutual savings banks by the Federal Deposit Insurance Corporation.
Branches. The term “ branches” is used in accordance with the definition in
paragraph (15), subsection (c) of Section 12B of the Federal Reserve Act, which
is as follows: “ The term ‘branch’ includes any branch bank, branch office, branch
agency, additional office, or any branch place of business located in any State
of the United States or in Hawaii, Alaska, Puerto Rico, or the Virgin Islands at
which deposits are received or checks paid or money lent.”
121
NUMBER OF BANKS AND BRANCHES
T a b le 101.
N um ber o f
O p e r a tin g
B anks and
B ran ch es,
£o
to
31, 1935
D ecem ber
INSUR ED AN D N O N INSUR ED B AN K S GROUPED BY CLASS OF B A N K IN EACH STATE AN D POSSESSION
and
Percent of banks and
branches insured
M utual savings banks
and branches
Commercial banks and branches
branches
Insured
N onInsured insured
M em bers F. R .
System
Total
Total
State
Total
Insured
N oninsured
All
banks
C om 1M u tu a l
m ercial savings
banks
banks
19,143
17,300
1,843
18,448
17,237
6 ,713
1,953
8,571
1 ,2 1 1
695
63
632
9 0.4
9 3 .4
9.1
S t a t e s — t o t a l ...........................................
19,059
17,296
1,763
18,364
17,233
6,713
1,953
8 ,567
1,131
695
63
632
9 0.8
93.8
9.1
A la b a m a ..................................................
Arizona
Arb’QrtcOQ
California
Colorado
239
36
228
1,053
156
229
36
219
1,042
141
10
239
36
228
1,053
156
229
36
219
1,042
141
75
135
10
9 5.8
95.8
1 0 0 .0
1 0 0 .0
50
738
81
19
3
7
152
5
96.1
99.0
9 0.4
96.1
99.0
9 0.4
Connecticut
D elaw are.................................................
I cf
nf r^nlnmKia
Florida
Georgia
208
61
52
153
346
109
56
52
148
282
99
5
134
58
52
153
346
109
56
52
148
282
57
16
26
51
73
6
6
46
34
19
94
178
86
83
864
551
697
460
86
83
864
547
697
460
33
299
130
118
190
422
199
114
261
310
117
57
44
Idah o.........................................................
Illino is......................................................
In d ia n a ....................................................
883
596
785
728
465
Louisiana
M a in e .......................................................
M a ry la n d ...............................................
M assach usetts.....................................
201
163
294
546
i
9
11
15
5
64
3
19
45
268
883
591
785
728
422
199
43
465
2
201
1 20
43
31
236
129
265
314
263
310
88
22
7
3
31
24
65
20
26
16
10
68
5
33
35
189
66
11
162
152
55
26
500
397
553
254
295
137
37
158
55
9
11
15
52.4
9 1 .8
81.3
9 6.6
1 0 0 .0
1 0 0 .0
96.7
81.5
96.7
81.5
96.5
9 7.8
9 2.4
96.5
9 7.8
92.6
88
8 8 .8
8 8 .8
268
63.2
63.2
90 .8
9 9.0
73.6
89.5
56.8
90.8
99.0
88.4
98.5
98.7
25
2
74
3
74
3
5
64
3
19
44
5
4
1
43
2
15
4
4
34
29
232
6
2
28
27
232
CORPORATION
S ta te s an d
P o sse ssio n s
t o t a l ................................................
INSURANCE
U n ite d
N a
tional
N onN ot
m em
insured
bers
F. R.
S y s te m
DEPOSIT
Total
FEDERAL
A ll banks
80.0
17.6
6.9
120
439
17
61
540
46
378
16
57
519
45
N ew Y o r k ...............................................
N orth C arolina....................................
N orth D a k o t a ....................... .. ............
O h io...........................................................
O k lah om a...............................................
1,599
328
203
883
405
1,395
325
192
862
387
O regon......................................................
P ennsylvania........................................
Rhode Isla n d ........................................
South C arolina.....................................
South D a k o ta .......................................
137
1,230
166
214
136
1,175
44
133
213
Tennessee...............................................
T e x a s.........................................................
U t a h ..........................................................
V e rm o n t..................................................
V irgin ia....................................................
373
884
69
106
395
363
805
69
106
390
W ashin gton............................................
W est Virginia.......................................
W iscon sin ...............................................
W y o m in g .................................................
228
183
719
59
219
172
699
59
11
20
P o sse ssio n s— t o t a l ..............................
84
4
15
48
18
3
2
2
A la sk a ......................................................
H aw aii......................................................
Puerto R ic o ...........................................
Virgin I slands of the United States
120
111
66
49
624
691
249
695
594
655
239
646
119
137
211
26
87
46
1
439
17
54
66
21
1
511
46
378
16
57
503
45
204
3
1,417
328
203
880
405
1,392
325
192
859
387
640
49
11
21
18
143
15
3
51
21
139
13
53
268
9
1
111
22
4
498
17
66
280
214
187
1
1
136
55
1 ,2 1 0
113
55
166
214
135
1,173
44
133
213
85
746
22
20
21
35
5
23
373
884
69
363
805
69
89
454
22
5
52
19
45
146
31
95
79
31
19
33
1
1C
79
66
6
314
429
30
36
210
10
508
52
49
230
3
3
124
19
61
254
259
126
392
172
25
3
44
314
3
93
124
269
299
28
43
213
1
1
1
1
9
8
1
11
21
45
29
16
45
13
182
3
179
3
3
1
20
11
1
2
18
1
37
11
18
11
33
1
10
79
18
18
95.2
94.8
96.0
92.9
99.2
95.2
94.8
96.0
92.9
99.2
8 6 .1
8 6 .1
94.1
51.4
96.1
9 7 .8
94.1
86.4
98.4
97.8
87.2
99.1
94.6
97.6
95.6
98.2
99 1
94.6
97.6
95.6
99.3
95.5
66.7
80.1
9 9.5
99.3
96.9
80 0
801
99.5
97.3
91.1
97.3
91.1
1 0 0 .0
1 0 0 .0
1 0 0 .0
1 0 0 .0
98.7
98.7
96.1
94.0
97 2
96.0
94.0
97.3
1 0 0 .0
1 0 0 .0
88
88
5
395
390
9
225
183
714
59
216
172
695
59
80
84
4
SO
4.8
4.8
13
46
18
3
15
48
18
3
2
2
13
46
18
3
13.3
4.2
13.3
4.2
120
26
20
8
90
74
555
25
5
9
3
3
5
4
11
19
1
1 0 0 .0
55.2
1 .6
1 0 0 .0
1 0 0 .0
1 0 .0
1 0 0 .0
1 0 0 .0
80.0
BRANCHES
1
N ebrask a.................................................
N e v a d a .......... .........................................
N ew H am pshire..................................
N ew Jersey............................................
N ew M e x ic o ..........................................
10
AND
30
36
BANKS
594
656
239
646
119
OF
624
692
249
695
NUMBER
M ich igan .................................................
M inneso ta..............................................
M ississip p i.............................................
M isso u ri..................................................
M o n ta n a .................................................
to
CO
T a b le
102.
NUMBER OF OPERATING BANKS, DECEMBER 3 1 , 1 9 3 5
INSURED AND NONINSURED BANKS GROUPED BY CLASS OF BANK, BY AMOUNT OF DEPOSITS, AND BY STATES AND POSSESSIONS
_ __
Percent o f banks insured
M utual savings banks
Commercial banks
All banks
Total
Insured
Total
12
20
2
10
65
4
9
16
56
96.1
95.0
94.5
96.7
96.5
97.3
13^8
141
275
39
13
17
5
128
258
34
89 0
72.7
76.0
97.8
96.9
98.2
12 8
566
56
510
9.9
1,033
3 ,2 1 0
3,2 6 8
362
351
179
1,392
3,557
3,440
1,031
3,210
3,264
53
580
1,161
12
1 11
966
2,519
1,936
361
347
176
69
53
107
1,762
1,045
1,876
1,703
1,008
1,825
805
516
1,004
120
778
418
59
37
51
1,245
730
109
764
442
61
159
161
44
322
127
4
28
23
14,122
5,386
1 ,0 0 1
7,735
1,093
1,273
753
15,781
1 4,178
1,603
15,215
1,834
111
15
69
7
50
123
81
18
3
7
16
5
120
255
156
207
15
213
245
141
93
4
125
46
105
44
6
45
24
10
217
15
9
2 22
255
156
10
198
48
105
44
22
22
22
22
153
321
148
258
5
63
153
321
148
258
54
16
9
51
57
60
883
548
660
728
57
864
504
582
460
3
19
44
78
268
60
883
543
660
728
57
864
500
582
460
23
299
125
118
190
1
57.1
16.7
9.2
37
37
207
15
213
245
141
217
15
222
2
66.7
4
5
156
106
55
10
9
10
15
20
2
2
11
3
25
94
176
5
63
10
24
500
367
438
254
3
19
43
78
268
65
8
26
16
73
73
2
2
5
4
*|
1
89.8
92.8
9 5.4
95.4
1 0 0 .0
1 0 0 .0
95.9
96.1
90.4
95.9
96.1
90.4
53.0
91.7
84.0
9 5.6
1 0 0 .0
1 0 0 .0
9 6.7
8 0.4
96.7
80.4
95.0
9 7.8
oo n
y^.u
95.0
97.8
92.1
8 8 .2
8 8 .2
63 2
63.2
80.0
CORPORATION
74.1
90.2
O
y^+.y
1,395
3,561
3 ,447
156
281
36
37
74.1
90.1
9 4.8
566
1,258
747
114
District o f C olu m bia........................
3
1 ,1 2 1
1,414
1,028
150
37
........................................
1
4
4
7 ,738
$ 2 000 000 to $5 000,000 ...............
to ta l
2
7
1 ,0 0 1
668
9.9
3
A
5,386
74
153
C om M u tu a l
m ercial savings
banks
banks
92.6
14,125
1,705
All
banks
89.7
15,246
1 ,0 1 2
N on
insured
510
1,631
167
Insured
56
14,181
1,774
1,065
1,941
S ta te s
State
Total
15,812
$500 000 to $ 7 5 0 ,COO........................
$750 000 to $ 1 ,0 0 0 ,0 0 0 ....................
$1 0 0 0 0 0 0 to $ 2 , 0 0 0 , 0 0 0 ...............
$5 000 000 to $ 5 0 ,0 0 0 ,0 0 0 .............
Over $ 5 0 ,0 0 0 ,0 0 0 ................................
“ N o n e” or N o t available 1 ............
N a
tional
N ot
N onm em
insured
bers
F. R .
S y ste m
INSURANCE
B a n k s w ith d e p o sits o f —
$ 1 0 0 ,0 0 0 and under...........................
$100 000 to $ 2 5 0 ,0 0 0 ........................
$250 000 to $ 5 0 0 ,0 0 0 ........................
Total
DEPOSIT
U n ite d S ta te s a n d P o ssessio n s—
N on
insured
FEDERAL
Insured
M em bers F. R .
System
M ichigan.................................................
M innesota...............................................
M ississippi.............................................
M isso u ri..................................................
M o n ta n a .................................................
477
N e b ra sk a ................................................
N e v a d a ....................................................
N ew H a m p sh ire..................................
N ew Jersey............................................
N ew M e x ic o ..........................................
437
200
397
392
148
68
186
200
43
435
150
71
187
204
392
148
62
184
200
30
40
63
129
49
477
685
209
695
449
649
199
646
119
2
35
14
197
120
61
437
422
41
376
9
56
403
40
N ew Y o r k ..............................................
North C arolin a....................................
N orth D a k o t a ......................................
O h io ...........................................................
O k la h o m a ...............................................
928
237
203
714
405
770
236
192
693
387
Oregon ......................................................
P ennsylvania........................................
Rhode Is la n d ........................................
South C arolin a....................................
South D a k o t a ......................................
95
1,123
32
145
199
94
1,084
16
112
198
T ennessee...............................................
T e x a s ........................................................
U ta h ..........................................................
V e rm o n t..................................................
V irgin ia...................................................
325
884
59
90
326
315
805
59
90
322
W a sh in g to n ...........................................
W est V irgin ia.......................................
W isco n sin ...............................................
W y o m in g ................................................
184
181
614
59
175
170
595
59
P o sse ssio n s— t o t a l ...............................
A la sk a .......................................................
H a w a ii......................................................
Pureto R ic o ...........................................
Virgin Islands o f the United States
137
9
230
3
3
61
53
4
100
8
1
119
190
182
126
369
172
793
237
203
711
405
768
236
192
690
387
459
44
94
1,116
23
145
199
93
1,082
16
44
709
198
52
325
884
59
76
326
315
805
59
76
322
72
454
13
43
132
5
52
19
19
181
181
609
59
172
170
591
59
58
79
106
26
26
19
15
31
28
31
13
11
11
10
6
1
13
6
1
18
1
39
16
33
1
10
79
4
9
11
11
6
1
112
1
28
36
10
1
11
21
1
274
429
171
508
52
65
397
41
158
6
2
91
15
3
51
1
6
52
236
22
1
10
66
249
214
12
20
72
1
6
74
2
4
23
24
14
43
299
11
93.0
50.4
90.1
98.7
87.3
98.4
98.0
94.1
9 4.7
95.2
9 2.9
99.2
94.1
94.7
95.2
92.9
99.2
193
10
49
1
1
9
45
25
14
11
25
135
2
133
1
11
21
45
3
3
1
2
18
1
1
2
88
34
7
33
7
9
123
1
238
299
27
33
166
66.0
90.1
9 8.7
32
13
193
84
205
25
87
46
21
26
2
9
3
4
40
54
19
1
111
43
31
376
9
56
389
40
10
110
283
114
16
5
9
86.0
86.0
90.0
50.9
95.5
9 7.6
90.0
98.0
97.6
56.0
83.0
99.6
9 4.6
97.1
9 5.6
96.8
99.6
94.6
97.0
95.6
1.5
100.0
98.9
96.5
50.0
77.2
99.5
98.9
97.0
69.6
77.2
99.5
9 6.9
91.1
10
79
14
14
4
86.2
100.0
100.0
98.8
98.8
95.1
93.9
96.9
95.0
93.9
97.0
100.0
100.0
88
9
11
3
3
28
9.7
9.7
2
1
2
1
11
10
6
1
15.4
9.1
15.4
9.1
includes 2 0 private banks under State supervision, 5 American branches of foreign banks,
of which are deposit figures available.
8
3
3
5
4
1
100.0
28.6
96.9
91.1
100.0
100.0
72
470
25
18
18.8
15.4
100.0
100.0
’ 80.0
trust companies which do not accept deposits, and 4 new banks, for none
N O T E : Banks grouped by amount of deposits are grouped on the basis of daily average deposits October 1 to December 31, 1935, except for noninsured commercial banks
and all mutual savings banks which are grouped on the basis of deposits as of December 31, 1935.
BRANCHES
1
120
10
6
10
AND
28
36
209
695
9
4
BANKS
449
650
199
646
119
686
1 00
OF
435
150
103
NUMBER
K e n tu c k y ................................................
Louisiana.................................................
M a in e .......................................................
M a r y la n d ................................................
M assach usetts......................................
to
cn
Table 103.
NUMBER OP OPERATING U N IT BANKS, DECEMBER
31, 1935
N>
oa
INSURED AND NONINSURED BANKS GROUPED BY CLASS OF BANK, BY AMOUNT OF DEPOSITS, AND BY STATES AND POSSESSIONS
All banks
Commercial banks
Insured
M em bers F. R.
System
Percent of banks insured
M utual savings banks
Insured
S ta tes a n d
Total
Total
P o ss e s s io n s —
N a
tional
State
N ot
N on
m em
insured
bers
F. R.
System
N oninsured
All
banks
433
89.8
92.5
10.7
74.1
90.0
94.8
74.1
90.0
94.9
57.1
96.0
95.0
94.9
96.6
96.5
97.6
88.9
69.2
67.3
98.2
96.7
93.5
6 .2
2 2 .2
89.9
92.6
10.7
95.3
95.3
14,901
13,381
1,520
14,416
13,329
5,204
858
7,267
1,087
485
52
1,392
3,5 0 0
3 ,344
1,031
3,151
3,170
361
349
174
1,389
3,496
3,337
1,029
3,151
3,166
53
580
1,160
12
110
360
345
171
3
4
7
2
1
166
964
2,461
1,840
4
4
3
$500 000 to $ 7 5 0 ,0 0 0 ........................
$750 000 to $ 1 ,0 0 0 ,0 0 0 ....................
$ 1 , 0 0 0 ,0 0 0 to $ 2 , 0 0 0 , 0 0 0 ...............
1,693
1,016
1,842
1,626
965
1,748
67
51
94
1,681
996
1,781
1,624
961
1,739
802
512
998
119
74
148
703
375
593
57
35
42
12
20
1,143
514
33
142
229
16
37
1,151
517
31
37
1,130
500
29
734
344
21
136
85
260
71
21
17
2
8
14,880
13,379
1,501
14,395
13,327
5,204
858
7,265
1,068
214
204
10
214
204
68
119
10
10
10
10
10
216
216
156
207
207
141
9
9
15
216
216
156
207
207
141
5
50
17
3
7
Connecticut
Delaware
193
41
102
91
3
121
102
40
38
11
11
11
11
Florida
frPnraio
153
311
148
249
5
62
153
311
148
249
Illinois
In d ia n a ....................................................
55
883
517
567
728
52
864
474
494
460
3
19
43
73
268
55
883
512
567
728
52
864
470
494
460
K an sas.....................................................
38
1
61
134
226
18
13
14
4
121
212
485
52
433
14
16.7
2 0 .0
14.8
9.7
37
Alabam a
Arizona
Arkansas
California
PolnraH a
S t a t e s — t o t a l ................................
10
16
52
112
8
81
5
52
16
4
51
53
6
2
20
299
1 20
118
190
1 0 0 .0
2
9
9
15
44
19
72
72
20
2
1
1
22
7
94
174
5
62
9
65
7
26
16
23
500
343
350
254
3
19
42
73
268
3
95.8
9 5.8
90.4
150
87
55
5
4
1
1 0 0 .0 I..............
9 5.8
95.8
90.4
52.8
92.7
84.3
95.0
1 0 0 .0
1 0 0 .0
96.7
80.1
96.7
80.1
94.5
9 7.8
91.7
87.1
63.2
94.5
9 7.8
9 1.8
87.1
63.2
80.0
CORPORATION
1,285
743
49
37
2
4
9
66.7
INSURANCE
Insured
B a n k s w ith d e p o sits o f —$ 1 0 0 ,0 0 0 and u n d e r .........................
<ti fin nnn *-r» <£9 ^ 1 non
$250 000 to $ 5 0 0 ,0 0 0 ........................
$ 2 , 0 0 0 ,0 0 0 to $ 5 ,0 0 0 ,0 0 0 ............
$ 5 ,0 0 0 ,0 0 0 to $ 5 0 ,0 0 0 ,0 0 0 .............
Over $ 5 0 ,0 0 0 ,0 0 0 ................................
''N o n e ” and !Not available^.........
M utual
C om
mercial savings
banks
banks
Total
DEPOSIT
U n ite d
N on
insured
FEDERAL
Total
440
684
188
695
N e b ra sk a ................................................
N e v a d a ....................................................
N ew H am p sh ire.................................
N ew Jersey...........................................
N ew M e x ic o .........................................
435
N ew Y o r k ..............................................
N orth C arolin a. .................................
N orth D a k o t a ......................................
O h io ..........................................................
O klahom a..............................................
810
199
203
679
405
O regon.....................................................
P ennsylvania........................................
Rhode Isla n d .......................................
South C arolin a....................................
South D a k o ta ......................................
46
161
158
111
17
414
648
178
646
119
26
36
10
49
440
683
188
695
120
73
203
24
87
46
82
15
3
51
1
414
647
178
646
119
374
7
55
353
36
61
435
1
8
64
349
37
135
4
51
9
54
18
374
7
55
341
36
199
192
658
387
712
199
203
676
405
92
1,079
21
140
194
91
1,047
10
107
193
Tennessee...............................................
T e x a s ........................................................
U ta h .........................................................
V e rm o n t..................................................
V irginia...................................................
305
884
55
81
287
W a sh in g to n ...........................................
W est Virginia.......................................
W isconsin...............................................
W y o m in g ................................................
120
11
1 22
97
25
37
61
8
3
1
6
21
273
94
8
94
30
259
429
151
508
52
43
2
6
2
30
4
164
26
36
1
11
6
2
24
9
164
1
10
49
1
61
1
230
3
3
9
45
222
22
31
4
88
10
8
1
22
12
10
687
199
192
655
387
432
42
84
171
149
126
352
172
25
98
1
97
91
1,076
13
140
194
90
1,045
42
693
9
19
48
295
805
55
81
284
305
884
55
295
805
55
68
68
287
176
179
547
59
167
168
529
59
P o sse ssio n s— t o t a l ..............................
21
A la sk a ......................................................
H a w a ii.....................................................
Puerto R ic o ..........................................
Virgin Islands o f the United States
12
7
8
109
371
37
2
688
1
10
107
193
8
66
241
214
62
1
6
62
1
3
23
10
5
52
19
284
41
126
22
173
179
542
59
164
168
525
59
53
79
104
26
2
21
2
12
68
454
42
290
25
19
85
1
11
21
45
3
3
1
1
31
3
33
3
1
2
18
122
1
222
10
299
26
27
136
79
8
1
8
89.8
98.4
63.4
93.7
48.5
89.8
98.4
88 5
98.8
97.5
94.1
94.7
94.7
9 2.9
99.2
94.1
94.7
94.7
92.9
99.2
86.0
86.0
87.5
50.5
95.1
97.3
87.5
85.9
97.7
97.3
54.5
1.0
84.9
96.5
100.0
100.0
94.6
96.9
95.6
94.6
96.9
95.6
98.9
97.0
47 .6
76.4
99.5
98.9
97.1
76.9
76.4
99.5
96.7
91.1
13
13
3
3
3
5
4
100.0
100.0
99.0
99.0
94.9
93.9
96.7
94.8
93.9
96.9
100.0
100.0
86
9
17
2
2
19
9.5
9.5
2
2
10
16.7
16.7
11
7
7
2
2
1
100.0
100.0
66.7
96.7
91.1
100.0
100.0
70
410
25
11
8
20.0
18.2
100.0
100.0
‘ 80.0
includes 2 0 private banks under State supervision, 5 American branches of foreign banks, 8 trust companies which do not accept deposits, and 4 new banks, for none
of which are deposit figures available.
N O T E : Banks grouped by amount of deposits are grouped on the basis of daily average deposits October 1 to December 31 1935 .except for noninsured commercial banks
and all mutua savings banks which are grouped on the basis of deposits as of December 31 1935.
BRANCHES
378
168
421
124
52
163
162
2
30
AND
M ichigan.................................................
M innesota..............................................
M ississipp i.............................................
M isso u ri..................................................
M o n ta n a .................................................
43
BANKS
378
122
52
163
158
OF
421
124
82
174
326
NUMBER
K e n tu c k y ...............................................
Louisiana................................................
M a in e .......................................................
M a ry la n d .................. ........................
M assach usetts.....................................
to
Table 104.
N u m b e r OF B a n k s OPERATING BRANCHES, DECEMBER
31, 1935
K)
00
INSURED AND NONINSURED BANKS GROUPED BY CLASS OF BANK, BY AMOUNT OF DEPOSITS, AND BY STATES AND POSSESSIONS
M utual savings banks
Commercial banks
All banks
Banks operating
branch systems
that are
Insured
Members F .R
System
Total
Total
N ational
800
111
3
61
103
2
59
98
5
$500,000 to $ 7 5 0 ,0 0 0 ..........
$750,000 to $ 1 ,0 0 0 ,0 0 0 . . .
$ 1 ,0 0 0 ,0 0 0 to $ 2 ,0 0 0 , 0 0 0 . .
81
49
99
79
47
86
13
$2,000,000 to $5,000,000 . .
$5,000,000 to $50,000,000 .
Over $ 5 0 ,0 0 0 ,0 0 0 ..................
129
285
115
233
81
14
52
101
901
799
3
5
3
5
S ta tes— t o t a l .
A la b a m a . .
A rizona. . .
A rk an sa s. .
C alifornia.
C olo rad o. .
2
2
796
3
61
103
59
98
182
143
ty
wide
one
coun
77
Possessi ons noi c lassified
2
2
banks
banks
95.9
4.9
66.7
96.7
95.1
66.7
96.7
95.1
75
43
75
97.5
95.9
86.9
97 5
95.9
90.5
89.1
81.8
80.2
94.3
97.5
100.0
6.1
4 .8
88.7
97.0
4.9
1 100.0
100.0
100.0
100.0
100.0
100.0
97.4
97.4
79
47
3
4
86
6
20
122
236
80
115
230
80
30
98
40
23
76
36
62
56
4
102
820
795
182
143
470
3
5
3
5
1
1
3
6
6
6
6
6
38
39
38
19
7
49
21
25
81
361
360
2
2
4
17
180
3
2
12
60.0
85.7
100.0
30
88
C om
M u tu
mer
al
cial savings
58
96
81
49
95
2
All
banks
ty
471
39
C onnecticut..................
D elaw are........................
District o f C o lu m b ia .
F lorid a.............................
G eorgia............................
Id a h o . .
Illin o is. .
In d ia n a .
Iow a. . .
K a n sa s.
1
2
830
sured
In
more
than
75.0
100.0
100.0
90.0
90.0
100.0
100.0
96.8
94.6
9 6.8
9 4 .6
CORPORATION
911
B a n k s w ith d e p o sits o f—
$ 1 0 0 ,0 0 0 and u n d er...............
$100,000 to $ 2 5 0 ,0 0 0 ............
$250,000 to $ 5 0 0 ,0 0 0 ............
sured
C ity
wide
Coun
INSURANCE
S ta te s a n d P o sse s
s io n s— t o t a l ......................
Total
In
N on
in
DEPOSIT
U n ite d
N ot
m em
bers
F. R.
State Syst’m
N onin
sured
FEDERAL
Total
In
sured
N onin
sured
Percent of banks
insured
14
26
16
23
42
14
26
19
24
42
14
26
16
23
42
3
5
3
2
18
1
1
5
4
14
M ic h ig a n . .
M in n e so ta .
M ississipp i.
M isso u ri. . .
M o n ta n a . .
35
37
2
21
35
2
21
11
2
1
9
2
2
1
48
4
2
2
1
14
22
12
4
2
21
2
2
1
2
2
1
10
20
8
17
10
15
7
94.6
100.0
100.0
94.6
100.0
100.0
1
1
100.0
100.0
100.0
100.0
100.0
7
12
7
22
69.5
97.4
100.0
97.4
14
20
1
100.0
100.0
36
4
1
1
7
5
1
2
1
2
3
5
100.0
84.1
54.5
100.0
100.0
100.0
92.5
60.0
100.0
100.0
3
13
4
100.0
100.0
1
8
1
6
19
3
3
12
100.0
100.0
97.4
100.0
100.0
97.4
2
2
60
1
1
6
2
1
44
5
1
17
100.0
100.0
98.5
100.0
100.0
98.5
1
9
10.0
10.0
1
1
3
4
25.0
25.0
35
35
35
35
8
10
17
O regon.................
Pennsylvania. .
Rhode Island . .
South C arolin a.
South D a k o t a . .
3
44
3
37
5
5
5
5
3
40
10
5
5
3
37
6
5
5
2
16
3
1
4
12
2
1
1
9
1
3
1
Tennessee.
T exas. . . .
U t a h ...........
V e rm o n t. .
Virginia. . .
20
20
20
20
4
16
4
9
39
4
9
38
4
8
39
4
8
38
3
2
6
1
6
30
8
2
8
2
66
8
2
67
8
2
66
5
1
2
4
10
1
2
3
4
4
1
4
1
1
1
Possessi onsnol c lassified
2.7
100.0
1
N O T E : Banks grouped b y am ou n t o f deposits are grouped on the basis o f daily average deposits O ctober 1 to D ecem ber 31, 1935, except for noninsured com m ercial banks
and all m utual savings banks w hich are grouped on the basis of deposits as o f D ecem ber 31, 1935.
BRANCHES
104
4
AND
36
1
66.7
BANKS
1
19
33
1
OF
37
35
2
1
4
14
2
2
27
2
1
11
10
2
81
37
A la sk a ..........................................
H a w a ii.........................................
Puerto R ic o ........... ...................
Virgin Islands o f the United
S ta te s ...........................................
22
2
39
81
38
1
4
4
100.0
100.0
84.2
95.8
100.0
1
82
37
P o sse ssio n s— t o t a l .
100.0
100.0
76.2
88.5
59.2
2
118
38
67
3
1
9
6
2
3
N ew Y o r k ..........
N orth C arolin a.
N orth D a k o t a . .
O h io ......................
O k lah om a..........
W ashington . .
W e st V irgin ia.
W isconsin . . . .
W y o m in g . . . .
7
19
9
10
19
100.0
100.0
100.0
98.0
100.0
50
4
6
2
4
6
3
10
50
2
51
4
11
2
2
29
2
2
29
20
2
2
1
48
4
N e b ra sk a ..............
N e v a d a ..................
N ew H am p sh ire.
N ew Jersey..........
N ew M exico . . . .
3
1
NUMBER
K e n tu c k y ..........
L ouisiana...........
M a in e ..................
M a r y la n d ...........
M assach u setts.
to
CD
Table 105.
N u m b e r OF OPERATING BRANCHES OF BAN KS, DECEMBER
31, 1935
CO
o
INSURED AND NONINSURED BRANCHES GROUPED BY CLASS OF BANK IN EACH STATE AND POSSESSION
Branches o f commercial banks
All branches
Branches o f mutual
savings banks
Location o f branches
Percent o f branches
insured
Insured
Members
F. R. System
Total
N a -
S ta te s — t o t a l .
3,331
3,119
212
3,202
3,112
1.327
952
129
3,278
3,118
160
3,149
3, J11
1.327
952
129
22
22
22
22
21
6
797
21
6
798
15
136
46
21
6
797
615
122 Possessi ons not c lassified
122
1,765
621
6
6
97.2
5.4
95.1
98.8
5.4
14
15
100.0
100.0
100.0
100 0
100.0
99.9
99.9
100.0
12
4
40.0
92.3
30
100.0
13
48
125
47
115
K e n tu c k y ..........
L o u isia n a ...........
M a in e ..................
M a r y la n d ..........
M assach u setts.
30
51
60
94
149
30
51
52
77
30
51
52
77
110
30
51
58
78
110
110
47
15
19
23
16
51
115
M ichigan . .
M innesota .
M ississipp i.
M isso u ri. . .
M ontan a . .
147
145
147
145
40
127
6
6
6
6
40
40
40
40
30
115
12
23
21
8
21
32
16
"
‘2 0
20
44.4
100.0
100.0
96.0
96.0
100.0
100.0
97.9
92.0
97.9
92.0
100.0
100.0
100.0
100.0
86.7
81.9
73.8
25
19
6
39
M u
tual
sav
ings
banks
93.6
2
47
115
C om
mer
cial
banks
892
476
245
48
125
Else
O ut
where
side
All
in
head
head office banks
office county
county
89.7
98.7
100.0
9 8.6
98 .6
100.0
100.0
100.0
100.0
CORPORATION
C onnecticut..................
D elaw are........................
D istrict o f Columbia .
F lo rid a .............................
G eorgia............................
Id a h o . .
Illinois . .
In d ia n a .
Iow a. . .
K an sas.
21
6
798
1
In
head
office
city
INSURANCE
Alabam a . ,
Arizona . . .
Arkansa s. .
California.
C o lo rado. .
state
Total
Nonin.
In
sured sured
DEPOSIT
U n ite d S ta te s a n d P o s s e s
s io n s — t o t a l .......................
tional
N ot
m em Nonin
sured
bers
F. R .
Sys
tem
FEDERAL
Total
Nonin* Total
In
sured sured
N ew Y o r k ..........
N orth C arolin a.
N orth D a k o t a . .
O h io ......................
O k la h o m a ..........
671
91
625
89
169
169
Oregon ................
P en n sylvan ia. .
Rhode Isla n d . .
South C arolin a.
South D a k o t a . .
42
107
34
21
15
42
91
28
21
15
T ennessee.
T exas. . . .
U t a h ...........
V e rm o n t. .
V irgin ia. . .
48
10
16
69
W a sh in g to n . .
W est V irgin ia.
W isconsin
W y o m in g . . . .
44
2
44
2
2
37
12
2
2
7
1
32
58
24
5
624
91
624
89
1.81
5
379
7
64
77
169
169
31
115
23
42
94
32
21
15
42
91
28
21
15
41
37
8
15
14
39
19
1
1
15
1
5
1
48
48
48
17
10
16
68
1
10
12
69
10
12
68
9
2
14
44
2
105
44
2
104
37
5
1
14
5
1
52
53
1
1
2
36
12
2
37
12
2
2
2
46
2
16
6
1
2
1
2
1
7
100.0
100.0
100.0
100.0
2
98.3
2
100.0
4
100.0
100.0
50.0
93.1
97.8
100.0
97.8
2.1
4
100.0
100.0
2
7
12
1
4
29
2
7
17
11
100.0
85.0
82.4
100.0
100.0
100.0
96.8
87.5
100.0
100.0
17
14
17
10C.0
100.0
1
21
1
13
31
8
3
17
100.0
100.0
98.6
100.0
100.0
98.6
15
1
18
3
1
69
26
100.0
100.0
99.0
100.0
100.0
99.0
1.9
1.9
2.7
2.7
4
2
2
95
21
3
47
1
46
654
9
9
24
8
58
130
35
11
98
15
3
31
1
10
47
1
2
2
85
1
1
52
1
2
36
12
2
3
4
13
2
4
2
105
13
2
4
104
100.0
100.0
18
Possessi ons not c lassified
BRANCHES
A la sk a ..........................................
H a w a ii.........................................
Puerto R ic o ...............................
Virgin Islands o f the United
S ta te s .......................................
53
2
7
1
114
5
AND
P o sse ssio n s— t o t a l .
2
7
1
114
5
BANKS
2
7
1
116
5
OF
2
7
1
118
5
NUMBER
N e b ra sk a ..............
N e v a d a ..................
N ew H am p sh ire.
N ew Jersey ..........
N ew M exico
Table 106.
N u m b e r OF OPERATING COMMERCIAL BANKS, DECEMBER
31, 1935
INSURED AND NONINSURED BANKS GROUPED BY AMOUNT OF DEPOSITS IN EACH STATE AND POSSESSION
Banks with deposits of—
All
banks
$ 1 ,0 0 0 ,0 0 0
to
2 ,0 0 0 ,0 0 0
$ 2 , 0 0 0 ,0 0 0
to
5,000,000
$5,000,000
to
50,000,000
Over
$50,000,000
“ N one”
and not
available 1
111
37
109
2
37
15,246
14,125
1,121
1,392
1,031
361
3,557
3,210
347
3,440
3,264
176
1,762
1,703
59
1,045
1,008
37
1,876
1,825
51
1,273
1,245
28
753
730
23
15,215
14,122
1,093
1,390
1,031
359
3,555
3,210
345
3,435
3,264
171
1,760
1,703
57
1,042
1,007
35
1,869
1,823
46
1,267
1,245
22
751
730
21
111
35
109
2
35
217
207
23
20
3
70
65
5
58
57
1
21
10
20
1
10
17
17
13
13
4
4
1
1
2
2
3
3
6
1
6
3
3
46
45
1
23
23
6
16
16
4
4
8
66
40
40
35
34
1
9
9
21
12
21
20
1
8
8
12
10
15
15
222
156
141
15
21
11
10
64
63
1
18
17
1
34
32
2
125
105
2
11
1
1
8
3
5
5
213
9
255
245
10
20
46
44
2
22
55
48
7
3
2
1
6
4
2
22
153
148
5
321
258
63
15
14
1
81
42
39
34
34
93
83
10
6
8
44
42
2
13
12
1
8
8
34
33
1
18
18
9
6
3
11
11
9
8
1
3
3
26
21
5
7
7
31
30
1
4
4
22
19
3
5
5
4
4
13
13
8
8
66
11
11
5
5
21
1
1
2
1
1
2
36
33
3
63
60
3
14
14
23
23
12
22
12
12
21
1
25
25
12
9
8
1
10
10
1
5
5
5
5
1
1
3
1
1
3
1
1
2
2
10
i
10
CORPORATION
C onnecticut.......................
I n s u r e d b a n k s ..........
N o n in s u r e d b a n k s .
D elaw are............................
I n s u r e d b a n k s ..........
N o n in s u r e d b a n k s .
D istrict o f Colum bia . .
I n s u r e d b a n k s ..........
N o n in s u r e d b a n k s .
F lorid a.................................
I n s u r e d b a n k s ..........
N o n in s u r e d b a n k s .
G eorgia................................
I n s u r e d b a n k s ..........
N o n in s u r e d b a n k s
$750,000
to
$ 1 , 0 0 0 ,0 0 0
INSURANCE
A la b a m a ..............................
I n s u r e d b a n k s ..........
N o n in s u r e d b a n k s .
A rizo n a................................
I n s u r e d b a n k s ..........
N o n in s u r e d b a n k s .
Arkansas.............................
I n s u r e d b a n k s ..........
N o n in s u r e d b a n k s .
C alifornia...........................
I n s u r e d b a n k s ..........
N o n in s u r e d b a n k s .
C olorado.............................
I n s u r e d b a n k s ..........
N o n in s u r e d b a n k s .
$500,000
to
750,000
DEPOSIT
S t a t e s — t o t a l ................
I n s u r e d b a n k s ..........
N o n in s u r e d b a n k s .
$250,000
to
500,000
$ 1 0 0 ,0 0 0
to
250,000
FEDERAL
U n it e d S t a t e s a n d P o s s e s s io n s
t o t a l ........................................
I n s u r e d b a n k s .............................
N o n in s u r e d b a n k s ....................
$ 1 0 0 ,0 0 0
and
under
435
392
43
150
148
116
105
71
62
9
187
184
3
204
5
3
M ich ig a n ...........................................
I n s u r e d b a n k s ........................
N o n in s u r e d b a n k s ...............
M in n eso ta.........................................
I n s u r e d b a n k s ........................
N o n in s u r e d b a n k s ...............
M ississippi........................................
I n s u r e d b a n k s ........................
N o n in s u r e d b a n k s ...............
M issou ri.............................................
I n s u r e d b a n k s ........................
N o n in s u r e d b a n k s ...............
M o n ta n a ............................................
I n s u r e d b a n k s ........................
N o n in s u r e d b a n k s ...............
477
449
28
685
649
36
209
199
10
2
695
646
49
132
108
24
120
8
21
11
24
12
12
133
45
232
227
5
150
132
18
196
164
32
266
153
113
11
33
33
2
2
37
37
210
112
205
5
130
112
102
100
81
80
42
42
121
66
9
204
184
3
77
75
34
34
17
17
20
167
122
45
91
88
2
69
2
86
82
4
54
45
9
69
65
4
40
37
3
58
50
50
49
20
111
4
76
62
14
25
23
5
199
187
12
50
47
3
237
20
19
1
21
21
16
16
8
1
23
23
13
13
7
5
8
6
18
16
19
19
10
37
37
27
27
31
30
14
14
16
14
23
23
39
38
61
60
43
41
56
55
25
24
57
55
34
31
3
23
23
26
24
74
73
62
57
5
39
37
25
23
18
17
19
19
14
14
43
43
29
29
1
2
2
2
1
4
116
1
3
40
39
200
24
2
BRANCHES
131
124
7
206
201
5
53
51
2
1
1
2
1
2
1
1
2
1
220
140
134
54
53
6
1
32
31
36
36
13
13
11
11
119
17
27
26
11
11
437
376
61
173
146
27
118
110
8
37
37
14
13
1
1
1
1
11
1
2
2
2
8
23
23
133
48
43
5
32
AND
N eb rask a ...........................................
I n s u r e d b a n k s ........................
N o n in s u r e d b a n k s ...............
7
5
1
BANKS
K e n tu c k y ..........................................
In s u r e d b a n k s ........................
N o n in s u r e d b a n k s ...............
L ouisiana..........................................
I n s u r e d b a n k s ........................
N o n in s u r e d b a n k s ..............
M a in e .................................................
I n s u r e d b a n k s ........................
N o n in s u r e d b a n k s ...............
M a ry la n d ..........................................
I n s u r e d b a n k s ........................
N o n in s u r e d b a n k s ...............
M assach usetts................................
I n s u r e d b a n k s ........................
N o n in s u r e d b a n k s ...............
7
6
OF
60
57
3
883
864
19
543
500
43
660
582
78
728
460
268
NUMBER
I d a h o ..................................................
I n s u r e d b a n k s ........................
N o n i n s u r e d b a n k s ...............
Illinois.................................................
I n s u r e d b a n k s ........................
N o n i n s u r e d b a n k s ...............
In d ian a...............................................
In s u r e d b a n k s ........................
N o n in s u r e d b a n k s ...............
I o w a ....................................................
I n s u r e d b a n k s ........................
N o n i n s u r e d b a n k s ...............
K a n sa s................................................
I n s u r e d b a n k s ........................
N o n in s u r e d b a n k s ...............
N u m b e r OF O p e r a t i n g C o m m e r c ia l B a n k s , D e c e m b e r ,
31, 1935—
Continued
134
Table 106.
INSURED AND NONINSURED BANKS GROUPED BY AMOUNT OF DEPOSITS IN EACH STATE AND POSSESSION
Banks with deposits of—
$ 100,000
All
banks
$1,000,000 $ 2,000,000
to
2 ,000,000
to
5,000,000
$5,000,000
to
50,000,000
Over
$50,000,000
10
9
I
12
11
1
6
2
51
49
38
37
114
114
83
83
6
4
4
13
65
56
9
397
389
9
7
12
1
39
39
$
41
40
2
5
1
1
133
131
793
768
25
237
236
2
1
72
68
11
21
1
102
199
190
9
9
145
137
405
387
18
40
40
97
3
1,116
1,082
34
23
16
7
145
175
170
5
166
162
4
1
2
1
1
88
83
5
8
8
29
27
2
2
2
2
115
111
4
34
34
20
30
30
20
248
246
200
200
2
5
/
4
42
24
18
58
57
6
100
1
154
149
5
18
17
105
105
105
105
27
27
1
1
6
94
93
33
1
41
40
4
111
711
690
5
3
3
166
165
90
90
53
53
203
192
112
1
“ N on e”
and not
available 1
12
11
1
CORPORATION
$ 1,000,000
INSURANCE
O regon...............................
In su r ed b a n k s . . . .
N o n in s u r e d b a n k s
Pennsylvania..................
In s u r e d b a n k s . . . .
N o n in s u r e d b a n k s
Rhode Isla n d .................
In su red b a n k s . . . .
N o n in s u r e d b a n k s
South C arolin a..............
I n s u r e d b a n k s . .. .
N o n in s u r e d b a n k s
$750,000
to
$500,000
to
750,000
DEPOSIT
N ew Y o r k ........................
In su red b a n k s. . . .
N o n in s u r e d b a n k s
N orth C arolin a..............
In su red b a n k s. . . .
N o n in s u r e d b a n k s
N orth D a k o t a ................
In su r ed b a n k s . . . .
N o n in s u r e d b a n k s
O h io ....................................
In su r ed b a n k s . . . .
N o n in s u r e d b a n k s
O klahom a.........................
In su r ed b a n k s . . . .
N o n in s u r e d b a n k s
to
250,000
$250,000
to
500,000
FEDERAL
N e v a d a ..............................
In su red ba n k s. . . .
N o n in su red ba n ks
N ew H am psh ire...........
In su red b a n k s. . . .
N o n in su red ba n k s
N ew Jersey......................
In su r e d b a n k s. . . .
N o n in s u r e d b a n k s
N ew M e x ic o ...................
In su red b a n k s . . . .
N o n in s u r e d b a n k s
and
under
$100,000
90
88
2
7
5
2
3
3
14
14
12
South D a k o t a ..................
I n s u r e d b a n k s ..........
N o n in s u r e d b a n k s .
199
198
Tennessee...........................
I n s u r e d b a n k s ..........
N o n in s u r e d b a n k s .
T e x a s....................................
I n s u r e d b a n k s ..........
N o n in s u r e d b a n k s .
U ta h ......................................
I n s u r e d b a n k s ..........
N o n in s u r e d b a n k s .
V e rm on t..............................
I n s u r e d b a n k s ..........
N o n in s u r e d b a n k s .
Virginia................................
I n s u r e d b a n k s ..........
N o n in s u r e d b a n k s .
325
315
326
322
18
16
60
60
72
71
60
59
W ash in gton .......................
I n s u r e d b a n k s ..........
N o n in s u r e d b a n k s .
W est Virgin ia...................
I n s u r e d b a n k s ..........
N o n in s u r e d b a n k s .
W isconsin...........................
I n s u r e d b a n k s ..........
N o n in s u r e d b a n k s .
W y o m in g ............................
I n s u r e d b a n k s ..........
N o n in s u r e d b a n k s .
181
172
9
181
170
18
16
41
39
45
44
28
27
2
23
20
3
5
5
7
7
46
42
4
163
156
7
17
17
26
24
609
591
18
59
59
29
26
3
158
156
28
28
1
10
884
805
79
59
59
70
63
7
132
104
28
1
1
105
104
1
256
226
30
13
13
11
1
59
59
29
29
16
14
215
205
105
98
7
5
5
39
37
10
19
19
13
13
2
40
39
2
1
2
2
7
7
37
37
2
2
1
1
30
30
46
46
22
19
3
34
34
1
2
60
59
11
1
68
1
3
3
8
1
11
69
8
14
14
10
10
20
19
1
33
32
1
17
17
6
6
BRANCHES
P o s s e s s io n s — t o t a l . . .
I n s u r e d b a n k s ..........
N o n in s u r e d b a n k s .
AND
83
82
25
25
BANKS
1
1
2
1
OF
11
2
NUMBER
13
13
A la sk a ..............................................
I n s u r e d b a n k s ......................
N o n in s u r e d b a n k s .............
H a w a ii..............................................
I n s u r e d b a n k s ......................
N o n in s u r e d b a n k s .............
Puerto R ic o ...................................
I n s u r e d b a n k s ......................
N o n in s u r e d b a n k s .............
Virgin Islands of the United
S ta te s .................................
I n s u r e d b a n k s ......................
N o n in s u r e d b a n k s .............
I
includes 20 private banks under State supervision, 5 American branches of foreign banks, 8 trust companies which do not accept deposits, and 4 new banks for none
of which are deposit figures available.
N O T E : Banks grouped by amount of deposits are grouped on the basis of daily average deposits October 1 to December 31 1935, except for noninsured commercial banks
and all mutual savings banks which are grouped on the basis of deposits as of December 31, 1935.
CO
Or
T a b le 107.
N
umber
OF OPERATING COMMERCIAL BANKS, DECEMBER 31, 1935
CO
Oi
UNIT BANKS AND BANKS OPERATING BRANCHES GROUPED BY AMOUNT OF DEPOSITS IN EACH STATE AND POSSESSION
Banks with deposits of
$ 1 0 0 ,0 0 0
and
under
$ 1 0 0 ,0 0 0
to
250,000
$250,000
to
500,000
$500,000
to
750,000
2 , 0 0 0 ,0 0 0
$ 2 ,0 0 0 ,0 0 0
to
5,000,000
$5,000,000
to
50,000,000
1 ,0 0 0 ,0 0 0
to
Over
$50,000,000
“ N one”
and not
available 1
37
37
15,246
14,416
830
1,392
1,389
3
3,557
3,496
61
3,440
3,337
103
1,762
1,681
81
1,045
996
49
1,876
1,781
95
1,273
1,151
122
753
517
236
111
S t a t e s — t o t a l ................ ........... .........
U n it b a n k s .....................................
B a n k s o p e r a tin g b r a n c h e s . .
15,215
14,395
820
1,390
1,388
2
3,555
3,4 9 4
61
3,435
3,333
102
1,760
1,679
81
1,042
993
49
1,869
1,776
93
1,267
1,149
118
751
517
234
111
Alabama
U n it b a n k s
B a n k s op&T atin.£ jbr^nc/ics
A rizo n a ..............................................
U n it b a n k s
B a n k s 0p&Tatin£ bTancbiGs
Arkansas............................................
U n it b a n k s
B a n k s opG ra tin ^ bTan.ch&s
California..........................................
U n it b a n k s ................................
B a n k s op6 T atin £ bT anch ss
C olorado............................................
U n it b a n k s
B a n k s op&Tatin£ b r s n c h c s
217
214
3
15
10
5
23
23
70
70
58
57
1
21
21
10
10
17
17
4
4
222
55
55
13
12
1
6
3
3
4
4
35
29
6
9
9
21
11
10
C onnecticut.....................................
U n it b a n k s
B a n k s 0pGTatin£ b rd n c /i 6 S
D elaw are...........................................
125
121
4
46
40
5
31
31
3
3
64
63
1
18
18
21
34
34
2
2
11
21
6
6
11
5
5
3
3
46
45
1
66
64
2
44
44
23
20
3
40
37
3
13
13
6
5
1
21
18
3
8
34
29
5
18
18
9
9
11
11
9
9
26
26
11
11
5
5
1
22
11
H
153
153
2
2
1
15
15
34
34
36
36
14
14
8
16
16
3
3
7
7
1
1
2
2
12
12
22
22
31
80
35
35
1
1
3
1
2
8
8
8
8
22
4
2
2
4
2
2
19
3
5
1
4
13
5
8
12
8
12
8
12
2
10
1
1
5
5
1
3
3
1
1
1
CORPORATION
B a n k s o p & ra tm £ bi?anch.&s
District o f Columbia
r/r)*f fostnlrq
B a n k s opGj?atm $ bi*anchGs
T7lr\ri/^o
rJ*-»14- %
%o lrq
B a n k s o p e r a tin g b r a n c h e s
216
A
255
216
39
156
156
1
1
31
80
INSURANCE
S ta te s a n d P o ssessio n s
t o t a l . .........................................
U n it b a n k s .....................................
B a n k s o p e r a tin g b r a n c h e s . .
DEPOSIT
U n ite d
$750,000
to
$ 1 , 0 0 0 ,0 0 0
FEDERAL
All
banks
3
3
K e n tu c k y ..........................................
U n it b a n k s ................................
B a n k s o p e r a tin g b r a n c h e s
Louisiana..........................................
U n it b a n k s ................................
B a n k s o p e r a tin g b r a n c h e s
M a in e .................................................
U n it b a n k s ................................
B a n k s o p e r a tin g b r a n c h e s
M a ry la n d ..........................................
U n it b a n k s ................................
B a n k s o p e r a tin g b r a n c h e s
M assachusetts................................
U n it b a n k s ................................
B a n k s o p e r a tin g b r a n c h e s
435
421
14
150
124
26
71
52
19
187
163
24
204
162
42
70
70
M ich igan ...........................................
U n it b a n k s ................................
B a n k s o p e r a tin g b r a n c h e s
M in n eso ta........................................
U n it b a n k s ................................
B a n k s o p e r a tin g b r a n c h e s
M ississippi........................................
U n it b a n k s ................................
B a n k s o p e r a tin g b r a n c h e s
M issouri.............................................
U n it b a n k s ................................
B a n k s o p e r a tin g b r a n c h e s
M o n ta n a ............................................
U n it b a n k s ................................
B a n k s o p e r a tin g b r a n c h e s
477
440
37
685
683
2
209
188
21
695
695
24
24
543
512
31
660
567
93
728
728
14
14
15
15
23
23
9
9
11
1
10
1
1
50
50
25
24
1
10
7
7
7
5
2
2
81
81
2
42
42
77
71
6
69
51
18
40
40
34
31
3
17
10
7
50
49
1
13
8
5
18
16
2
31
25
6
39
36
3
16
16
7
5
2
19
10
9
14
11
3
61
48
13
5
2
3
9
1
48
48
232
232
210
112
210
112
32
32
150
146
4
196
176
20
266
266
130
125
5
204
174
30
167
167
69
63
6
86
77
9
54
54
116
113
3
33
32
1
5
4
1
37
35
2
4
4
91
88
3
40
35
5
7
7
58
58
37
36
1
13
13
6
2
27
24
3
15
15
116
115
1
199
199
131
129
2
206
206
56
54
2
74
74
25
24
1
57
57
62
57
5
39
39
34
28
6
23
25
26
p
17
5C
47
3
237
237
53
44
9
140
140
25
25
54
54
18
17
1
32
32
19
13
6
43
43
14
13
1
29
29
5
4
1
23
23
27
27
36
36
13
13
11
9
9
11
11
11
5
5
24
24
133
133
9
9
8
8
1
1
76
76
25
25
132
132
120
8
120
8
23
18
5
8
33
33
50
39
11
37
37
25
24
1
15
12
3
3
3
16
14
2
23
23
102
102
20
11
15
5
21
21
11
2
10
5
5
8
1
o
o
3
1
I
1
1
1
11
5
5
16
10
6
43
21
22
8
8
i
1
1
1
7
7
3
5
9
5
4
10
2
1
5
1
4
3
3
3
1
2
5
5
BRANCHES
60
55
5
883
883
63
61
2
AND
I d a h o ..................................................
U n it b a n k s ................................
B a n k s o p e r a tin g b r a n c h e s
Illinois................................................
U n it b a n k s ................................
B a n k s o p e r a tin g b r a n c h e s
In d ian a...............................................
U n it b a n k s ................................
B a n k s o p e r a tin g b r a n c h e s
Io w a ....................................................
U n it b a n k s ................................
B a n k s o p e r a tin g b r a n c h e s
K a n sa s................................................
U n it b a n k s ................................
B a n k s o p e r a tin g b r a n c h e s
93
92
1
BANKS
81
81
OF
321
311
10
NUMBER
G eorgia..............................................
U n it b a n k s ................................
B a n k s o p e r a tin g b r a n c h e s
Table 107.
N u m b e r OF O p e r a t i n g C o m m e r c ia l
B a n k s, D ecem b er
31, 1935—-Continued
UNIT BANKS AND BANKS OPERATING BRANCHES GROUPED BY AMOUNT OF DEPOSITS IN EACH STATE AND POSSESSION
Banks with deposits of—
All
173
173
$250,000
to
500,000
118
118
$1,000,000 $ 2 ,000,000
$750,000
to
$500,000
to
750,000
$1,000,000
to
2,000,000
to
5,000,000
37
37
10
8
2
65
64
1
114
397
349
48
41
37
4
793
712
81
237
199
38
203
203
111
3
12
1
5
133
132
166
162
4
40
35
5
154
143
10
6
102
105
104
71
65
3
38
38
30
30
20
1
1
53
46
7
41
41
19
17
2
64
64
111
711
676
35
405
405
94
91
3
1,116
1,076
40
6
13
44
44
111
199
196
3
145
145
100
100
10
105
1
10
11
18
13
5
6
6
20
15
14
23
23
10
1
175
174
1
166
165
I
$5,000,000
to
50,000,000
Over
$50,000,000
“ N on e”
and not
available1
115
114
1
248
246
2
200
194
6
CORPORATION
Oregon ................................................
U n it b a n k s ................................
B a n k s o p e r a tin g b r a n c h e s
Pennsylvania...................................
U n it b a n k s ................................
B a n k s o p e r a tin g b r a n c h e s
2
60
60
to
250,000
INSURANCE
N ew Y o r k .........................................
U n it b a n k s ................................
B a n k s o p e r a tin g b r a n c h e s
North C arolina..............................
U n it b a n k s ................................
B a n k s o p e r a tin g b r a n c h e s
N orth D a k o ta .................................
U n it b a n k s ................................
B a n k s o p e r a tin g b r a n c h e s
O h io .....................................................
U n it b a n k s ................................
B a n k s o p e r a tin g b r a n c h e s
O klahom a..........................................
U n it b a n k s ................................
B a n k s o p e r a tin g b r a n c h e s
437
435
$ 100,000
DEPOSIT
N ebrask a...........................................
U nit b a n k s ................................
B a n k s o p e r a tin g b r a n c h e s
N e v a d a ...............................................
U nit b a n k s ................................
B a n k s o p e r a tin g b r a n c h e s
N ew H am pshire............................
U n it b a n k s ................................
B a n k s o p e r a tin g b r a n c h e s
N ew Jersey......................................
U n it b a n k s ................................
B a n k s o p e r a tin g b r a n c h e s
N ew M e x ic o ....................................
U n it b a n k s ................................
B a n k s o p e r a tin g b r a n c h e s
and
under
FEDERAL
$100,000
banks
P o sse ssio n s — t o t a l .......................
U n it b a n k s .....................................
B a n k s o p e r a tin g b r a n c h e s . .
31
21
10
A la sk a .................................................
U n it b a n k s ................................
B a n k s o p e r a tin g b r a n c h e s
H a w a ii................................................
U n it b a n k s ................................
B a n k s o p e r a tin g b r a n c h e s
Puerto R ic o ......................................
U n it b a n k s ................................
B a n k s o p e r a tin g b r a n c h e s
Virgin Islands o f the United
S ta te s....................................
U n it b a n k s ................................
B a n k s o p e r a tin g b r a n c h e s
13
12
1
11
7
4
6
2
4
6
4
2
9
8
1
5
3
2
7
3
4
3
1
2
2
6
6
13
8
5
37
37
1
2
2
1
1
1
42
42
35
35
27
27
11
11
45
45
94
93
1
28
28
12
12
5
4
1
2
2
70
70
132
132
105
101
4
256
256
59
58
1
215
215
29
25
4
105
105
16
15
1
39
39
26
22
4
58
58
40
40
1
1
13
13
19
19
5
5
5
5
2
2
3
3
8
8
22
22
60
59
1
18
17
1
72
63
9
60
51
9
7
6
1
10
8
2
30
24
6
13
9
4
25
21
4
7
4
3
2
1
1
14
8
6
41
41
45
45
28
28
10
8
2
20
20
7
4
3
6
6
2
33
31
2
6
6
17
14
3
2
2
1
7
5
2
6
2
4
2
4
3
1
2
1
1
1
1
1
1
18
18
18
18
2
2
29
29
46
46
23
23
158
144
14
7
7
163
146
17
17
17
2
2
5
4
1
2
2
2
2
1
1
1
1
1
1
5
5
2
1
1
2
2
1
1
2
1
1
1
1
1
1
26
25
1
83
66
17
11
11
g
7
1
18
18
60
52
8
3
3
3
3
3
3
46
43
3
22
22
34
33
1
69
64
5
8
8
2
1
1
3
1
1
2
1
1
2
1
2
2
2
2
2
2
2
2
2
3
1 In clu d es 20 p riva te ban ks under State supervision, 5 A m erican branches o f foreign banks, 8 trust com panies w hich do not a ccep t deposits and 4 new banks, for none
of w hich are dep osit figures ava ila b le.
N O T E : Banks grou ped b y am ou n t o f deposits are grouped on the basis of daily average deposits O ctob er 1 to D ecem ber 31, 1935, except for noninsured com m ercial banks
and all m utual savings banks w hich are grouped on the basis o f deposits as o f D ecem ber 31, 1935.
139
181
173
8
181
179
2
609
542
67
59
59
5
2
3
12
11
1
11
11
BRANCHES
W ashin gton......................................
U n it b a n k s ................................
B a n k s o p e r a tin g b r a n c h e s
W est Virginia..................................
U n it b a n k s ................................
B a n k s o p e r a tin g b r a n c h e s
W isconsin..........................................
U n it b a n k s ................................
B a n k s o p e r a tin g b r a n c h e s
W y o m in g ...........................................
U nit b a n k s ................................
B a n k s o p e r a tin g b r a n c h e s
59
55
4
76
68
8
326
287
39
2
2
AND
325
305
20
884
884
1
1
BANKS
Tennessee..........................................
U n it b a n k s ................................
B a n k s o p e r a tin g b r a n c h e s
T e x a s ..................................................
U nit b a n k s ................................
B a n k s o p e r a tin g b r a n c h e s
U ta h ....................................................
U n it b a n k s ................................
B a n k s o p e r a tin g b r a n c h e s
V e rm on t............................................
U n it b a n k s ................................
B a n k s o p e r a tin g b r a n c h e s
V irginia..............................................
U n it b a n k s ................................
B a n k s o p e r a tin g b r a n c h e s
1
1
OP
23
13
10
145
140
5
199
194
5
NUMBER
Rhode Isla n d ..................................
U n it b a n k s ................................
B a n k s o p e r a tin g b r a n c h e s
South C arolin a...............................
U n it b a n k s ................................
B a n k s op era tin g b r a n c h e s
South D a k o ta .................................
U n it b a n k s ................................
B a n k s o p e r a tin g b r a n c h e s
Table 108.
N u m b e r OF OPERATING MUTUAL SAVINGS BANKS, DECEMBER 31, 1935
£
O
INSURED AND NONINSURED BANKS GROUPED BY AMOUNT OF DEPOSITS IN EACH STATE
Banks with deposits of—
U n ite d S t a t e s — t o t a l .............................
3
2
1
4
4
7
4
3
12
2
10
20
4
16
65
9
56
$2,000,000
to
5,000,000
$5,000,000
to
50,000,000
Over
$50,000,000
141
13
128
275
17
258
39
5
34
S ta te
2
12
22
35
1
N o n in su red b a n k s. .
Delaware
73
2
2
12
22
35
2
1
N o n in su red ba n k s
In d ia n a ...............
In su red banks
N o n in su red ba n k s
M a in e . . . .
In su red banks
N o n in s u r e d b a n k s
M a ry la n d ....................................................
In su red banks
N o n in su red b a n k s
2
5
4
1
32
6
26
13
2
11
2
2
1
1
5
3
2
1
8
8
1
1
1
M assach usetts........................................
N o n in s u r e d b a n k s .........................
Minnesota
In su red banks
New H am psh ire. . . .
N o n in s u r e d b a n k s
New Jersey......................
.................
In su red banks
N o n in su red b a n k s .
.
. .
N ew Y o r k ...................................................
In su red banks
N o n i n s u r e d b a n k s .........................
193
193
1
1
1
1
1
1
1
1
1
1
1
1
12
2
10
1
2
2
1
1
5
1
4
6
1
1
6
1
1
1
2
7
17
56
102
7
1
1
2
7
17
56
102
7
1
1
45
1
4
5
10
17
8
45
25
14
11
135
2
133
1
2
2
4
5
10
2
1
8
17
9
8
84
84
1
7
17
3
2
1
20
1
7
20
1
1
1
23
2
21
CORPORATION
1
1
INSURANCE
73
C onnecticut................
DEPOSIT
N o n in s u r e d b a n k s .........................
566
56
510
$1,000,000
to
2,COO,000
$750,000
to
1,000,000
$500,000
to
750,000
$250,000
to
500,000
$100,000
to
250,000
$100,000
and
under
FEDERAL
All
banks
O h io .................................
BANKS
AND
BRANCHES
OF
W ash in gton .......................
I n s u r e d b a n k s ..........
N o n in su red b a n k s .
W iscon sin ...........................
I n s u r e d b a n k s ..........
N o n in su red b a n k s .
9
14
14
NUMBER
I n s u r e d b a n k s ..........
N o n in su red b a n k s .
O regon ..................................
I n s u r e d b a n k s ..........
N o n in su red b a n k s .
P ennsylvania....................
I n s u r e d b a n k s ..........
N o n in su red b a n k s .
Rhode Isla n d ....................
I n s u r e d b a n k s ..........
N o n in su red b a n k s .
V e rm o n t..............................
I n s u r e d b a n k s ..........
N o n in su red b a n k s .
142
Table 109. N u m b e r OP OPERATING MUTUAL SAVINGS BANKS, DECEMBER 31, 1935
UNIT BANKS AND BANKS OPERATING BRANCHES GROUPED BY AMOUNT OF DEPOSITS IN EACH STATE
Banks with deposits of—
566
485
81
3
3
4
4
$750,000
to
1,000,000
$500,000
to
750,000
$250,000
to
500,000
$100,000
to
250,000
7
7
12
12
1
1
2
2
20
20
$1,000,000
to
2,000,000
$2,000,000
to
5,000,000
$5,000,000
to
50,000,000
Over
$50,000,000
65
61
4
141
134
7
275
226
49
39
18
21
12
12
22
22
1
1
2
2
1
1
35
34
1
2
1
1
2
2
8
7
1
1
12
12
S ta te
32
30
2
13
11
2
M assachusetts
.
....
U n it b a n k s
. .
....
B a n k s o p e r a tin g b r a n c h e s . . . .
Minnesota
193
164
29
1
1
f
f
Hampshire
U n it b a n k s
B a n k s o p e r a tin g b r a n c h e s . . . .
N ew Y o r k ...................................................
U n it b a n k s
B a n k s o p e r a tin g b r a n c h e s . . . .
1
1
1
1
1
1
1
1
5
5
1
1
1
1
1
1
1
1
1
1
1
45
45
1
1
25
22
j
135
98
37
2
2
5
4
1
6
5
1
2
2
7
7
17
15
2
56
50
6
102
84
18
4
4
5
5
10
10
17
17
8
8
2
2
3
3
7
7
20
19
1
17
15
2
84
62
22
1
1
1
1
7
4
3
1
1
1
1
23
9
14
CORPORATION
M a in e ............................................................
XJnit b a n k s
B a n k s o p e r a tin g b r a n c h e s . . . .
M aryland
................................
U n it b a n k s
B a n k s o p e r a tin g b r a n c h e s . . . .
TT
INSURANCE
B a n k s o p e r a tin g b r a n c h e s . . . .
Indiana
U n it b a n k s
73
72
I
2
1
I
5
5
Connecticut
U n it b a n k s
B a n k s o p e r a tin g b r a n c h e s . . . .
DEPOSIT
U n ite d S t a t e s — t o t a l .............................
U n it b a n k s ..........................................
B a n k s o p e r a tin g b r a n c h e s . . . .
$100,000
and
under
FEDERAL
All
banks
1
3
3
BANKS
AND
BRANCHES
8
1
14
13
OF
W a sh in g to n .........................................
U n it b a n k s ...................................
B a n k s o p e r a tin g b r a n c h e s .
W isco n sin .............................................
U n it b a n k s ...................................
B a n k s o p e r a tin g b r a n c h e s .
7
3
4
9
NUMBER
O h io .........................................................
U n it b a n k s ...................................
B a n k s o p e r a tin g b r a n c h e s .
O reg o n ...................................................
U n it b a n k s ...................................
B a n k s o p e r a tin g b r a n c h e s .
P ennsylvania......................................
U n it b a n k s ...................................
B a n k s o p e r a tin g b r a n c h e s .
Rhode I s la n d .....................................
U n it b a n k s ...................................
B a n k s o p e r a tin g b r a n c h e s .
V e r m o n t................................................
U n it b a n k s ...................................
B a n k s o p e r a tin g b r a n c h e s .
CO
A n a l y s i s o p C h a n g e s in N u m b e r o f B a n k s a n d B r a n c h e s in t h e
C o n tin e n ta l U n ite d
S ta te s D u rin g
144
Table 110.
1935
INSURED AND NONINSURED BANKS GROUPED BY CLASS OF BANK
M utual savings banks
Commercial banks
All banks
Total
Insured
N oninsured
Members F. R.
System
Total
Total
BANKS AN D BRANCHES
N e t in cre a se (or decrease) d u rin g 1 9 3 5 ..........................................
In cre a se — t o t a l ..................................................................................................
Banks beginning operations......................................................................
Branches opened for business...................................................................
C h a n g e s in c la ssific a tio n n e t
B a n k s ..................................................
B ranch es............................................
N O T E : Italics indicate decrease.
^09
1°4
^*>
384
86
1,763
1,831
18,364
18,337
93
68
27
357
136
221
52
48
4
66
318
235
83
63
3
54
62
54
62
8
8
401
183
218
374
288
86
17,233
17,131
6,713
6,705
1,953
1,961
8 ,567
8,465
1,131
1,206
19
245
115
130
49
48
154
127
27
61
58
3
63
70
7
75
352
135
217
18
70
2
17
*
313
230
83
112
21
35
63
70
7
32
3
35
20
11
31
42
31
91
47
12
11
1
N onnsured
695
697
632
625
CORPORATION
D ecrease— t o t a l ................................................................................................. j
Banks ceasing operations...........................................................................
Branches discontinued. .
25
17,296
17,203
Insured
INSURANCE
N u m b e r , D e c e m b e r 31, 1 9 3 5 ..........................................................................j
N u m b e r ' D e c e m b e r 31, 1 9 3 4 ..........................................................................j 19,034
State
Total
DEPOSIT
National
N onN ot
m em insured
bers
F. R.
System
FEDERAL
Insured
BA N K S
N u m b e r , D e c e m b e r 31, 1 9 3 5 ....................
N u m b e r , D e c e m b e r 31, 1 9 3 4 ....................
,781
,895
14,178
14,215
1,603
1,680
15,215
15,320
14,122
14,147
5,386
5,462
1,001
980
7 ,735
7 ,705
1,093
1,173
566
575
56
68
510
507
3
37
77
105
25
76
21
30
80
9
12
184
77
22
85
136
72
19
45
48
5
3
40
183
76
22
85
135
71
19
45
18
3
3
12
2
2
115
66
16
33
48
5
3
40
1
1
1
1
B a n k s c e a sin g o p e r a tio n s— t o t a l .......................................................
Suspensions.....................................................................................................
M ergers, consolidations and absorptions— net decrease............
Other liquidations.......................................................................................
298
34
171
93
235
26
158
51
63
8
13
42
288
34
164
90
230
26
153
51
91
4
73
14
12
127
22
69
36
58
8
11
39
10
5
5
7
3
5
2
3
62
62
70
3
31
42
70
8
8
In cre a se — t o t a l .................... ..............................................................
Changes in charter jurisdiction2 .............................................
Other successions involving changes in classification . .
Other admissions to Federal Reserve m em bership. . . .
Other withdrawals from Federal Reserve m embership.
Other admissions to insurance..................................................
Banks in operation at beginning o f year3 .....................
Banks opened for business during y ea r...........................
Other voluntary withdrawals from insurance...................
197
21
4
35
3
100
79
21
34
155
15
2
35
3
100
79
21
42
6
2
189
21
4
35
3
100
79
21
26
155
15
9
9
36
1
110
5
2
34
6
2
D ecrea se— t o t a l ..................................................................................
Changes in charter jurisdiction2 .....................;••••.............
Other successions involving changes in classification . .
Other withdrawals from Federal Reserve mem bership.
Other admissions to Federal Reserve m em bership. . . .
Other voluntary withdrawals from insurance...................
Other admissions to insurance..................................................
197
21
4
3
35
34
100
93
20
2
3
34
34
28
21
C h a n g e s in c la ssific a tio n — n e t .
28
3
100
79
21
79
21
12
12
5
2
68
6
2
26
8
104
1
2
8
8
8
8
8
3
34
26
1
100
21
7
2
12
7
BRANCHES
7
1
35
35
3
100
AND
100
189
21
4
3
35
26
100
8
BANKS
104
1
2
8
OF
S u c c e ssio n s n o t in v o lv in g c h a n g e s in cla ssific a tio n .
34
2
11
1
NUMBER
114
B a n k s b e g in n in g o p e r a tio n s— t o t a l1 ...............................................
Reorganizations o f or successions to restricted b a n k s................
Reopenings o f closed banks (in receivership or liquidation).
Organizations o f new banks without predecessors......................
N e t in cre a se (or decrease) d u r in g 1935 .
!B a n k s beginning operations are classified as insured banks if adm itted to insurance within one m onth after date o f opening.
8C hanges from Federal to State, or from State to Federal, jurisdiction.
i n c lu d e s six banks succeeding banks in operation at beginning o f year and tw o banks resulting from consolidation o f banks in op eration at beginning o f year,
rem ained noninsured for a m onth or m ore after date o f succession or consolidation.
These banks
N O T E : Italics indicate decrease.
cn
T ab le n o .
A n a l y s i s o f C h a n g e s in N u m b e r o f B a n k s and B r a n c h e s in t h e C o n t i n e n t a l U n it e d S t a t e s D u r in g 1935— Continued
IN S U R E D AN D N O N IN S U R E D B A N K S G R O U P E D B Y C L A S S OF B A N K
£
M utual savings banks
Commercial banks
All banks
Insured
Insured
N on insured
Total
832
760
38
33
129
122
Total
(National
B R A N C H E S OF B A N K S
N u m b e r , D e c e m b e r 31, 1 9 3 5 ..........................................................................
3,278
3,139
3,118
2,988
160
151
3,149
3,017
3,111
2,984
1,327
1,243
952
981
N on
Insured insured
7
4
122
118
130
9
132
127
84
29
72
5
7
3
4
225
138
221
136
4
2
218
137
217
136
70
22
17
7
130
107
1
1
7
1
4
3
I
87
85
2
81
81
48
10
23
6
4
2
86
83
3
86
83
21
35
27
3
8
8
7
35
11
31
7
1
1
50
11
50
35
12
3
10
1
1
8
10
1
1
3
1
1
1
1
B ra n c h e s d isc o n tin u e d
C h a n g e s in cla ssific a tio n — n e t
In cre a se — t o t a l .........................................................................................i
D ue to changes in classification o f banks:
Chdngcs in chsrtcr jurisdiction
j
Other successions involving changes in cld.ssific3.tion
Other admissions to Federal Reserve membership . . . .
Other withdrawals from Federal I^eserve membership
Other admissions to insurance
Other voluntary withdrawals from insurance
Branches changing classification as result of mergers,
D ecrea se— t o ta l .
.
.
.......................................
D ue to changes in classification o f banks:
PliQnaPc in rhflrfpr inriQrlirnnn
Other successions involving chsngcs in classification
OfViAr xiyifViHrawolc
?pHpro
UlilCl
WILXICII dWcllo from
llUIli T
rCUCl
al1 T?
IXCOCi VC rnpTnK^r^nin
llltliuJti
.
Other admissions to Federal Reserve membership . . . .
Other voluntary withdrawals from insurance
61
60
8
8
8
8
11
11
11
11
3
11
3
3
10
3
28
28
28
28
61
58
60
57
23
8
8
8
8
8
11
11
3
11
11
11
10
3
11
10
28
28
28
28
11
3
3
11
3
27
1
11
10
3
Branches changing classification as result o f mergers,
N O T E : Italics in dica te decrease.
34
15
13
CORPORATION
139
B r a n c h e s o p e n e d fo r b u s in e s s — ’t o t a l .............................................
New branches established
Banks converted into branches as result of mergers, consolida
tions and absorptions .
...
.............................
INSURANCE
N e t in cre a se (or decrease) d u r in g 1 9 3 5 ......................................................
DEPOSIT
N on
insured
State
N ot
mem
bers
F. R.
System
M em bers F. R.
System
Total
FEDERAL
Total
Table 111.
C O M M E R C IA L B A N K S B E G IN N IN G
O P E R A T IO N S IN T H E C O N T IN E N T A L U N I T E D S T A T E S D U R I N G
1935
G RO U P ED B Y AM O U N T OF T O T A L C A P IT A L A C C O U N T , B Y C L A S S OF B A N K , B Y P O P U L A T IO N OF
C E N T E R , AN D B Y N U M B E R OF O T H E R B A N K S A N D B R A N C H E S IN C E N T E R
Banks with total capital account of—
All
banks
$25,000
to
50,000
Under
$25,000
$50,000
to
100,000
$100,000
to
250,000
$250,000
to
500,000
$500,000
to
1,000,000
89
36
15
10
2
135
20
18
2
115
12
70
2
70
15
2
1
1
13
8
2
2
12
28
16
15
1
12
6
2
Noninsured..................................................................
48
19
19
8
w ith p o p u la tio n (1930) o f—
2 5 0 ....................................................................
5 0 0 ....................................................................
1 ,0 0 0 ................................................................
7
28
35
2
11
11
4
17
23
1
1,000 to 2 ,5 0 0 .............................................................
2,500 to 5 ,0 0 0 ............................................................
5,000 to 1 0 ,0 0 0 ..........................................................
56
18
8
7
32
9
2
16
8
4
1
1
2
10,000 to 2 5 ,0 0 0 ........................................................
25,000 to 5 0 ,0 0 0 ........................................................
50,000 and ove r.........................................................
10
6
15
1
4
1
2
5
2
?
3
7
72
15
16
16
1
4
5
3
1
2
1
AND
C en ters
Under
250 to
500 to
BANKS
31
121
39
5
3 ........................................................................................
4 ........................................................................................
5 .......................................................................................
2
2
1
29
2
i
1
1
1
1
1
1
........................................................................................
8 or m ore......................................................................
13
1
2
2
7
1
BRANCHES
1
1
N u m b e r o f o th e r b a n k s an d b ra n ch e s in
c e n te r :
1 ........................................................................................
2 ........................................................................................
$5,000,000
and
over
OF
183
C lass o f b a n k :
Insured..........................................................................
Members of Federal Reserve System .........
N atio n al...................................................................
State ..........................................................................
N o t members of Federal Reserve Sy ste m .
$2,500,000
to
5,000,000
NUMBER
A ll b a n k s— t o t a l ..............................................................
$1,000,000
to
2,500,000
T a b le 112.
COMMERCIAL BANKS CEASING OPERATIONS IN THE CONTINENTAL UNITED STATES DURING
1935’
GROUPED BY AMOUNT OF TOTAL CAPITAL ACCOUNT, BY CLASS OF BANK, BY POPULATION OF
C E N T E R , AN D B Y N U M B E R OF O T H E R B A N K S AN D B R A N C H E S IN C E N T E R
Banks with total capital account of$100,000
to
250,000
$250,000
to
500,000
$500,000
to
1,000,000
$1,000,000
to
2,500,000
85
90
50
35
18
9
1
230
103
91
12
127
48
48
32
30
2
16
30
19
1/
2
11
17
13
11
2
4
8
7
6
1
1
1
48
78
32
29
3
46
58
37
12
2
5
1
1
57
47
48
40
23
14
16
22
26
1
2
6
2
1,000 to 2,500
2,500 to 5,000
5,000 to 10,000
58
18
19
8
18
5
1
26
9
6
5
3
9
1
1
4
1
10 000 to 25 000
25 000 to 50 000
50,000 and over
15
8
18
8
3
5
6
3
3
1
4
5
5
13
8
3
5
6
2
2
1
2
2
1
3
3
1
1
$5,000,000
and
over
C lass o f b a n k :
St at e . . . .
N o t members of Federal Reserve System .
Noninsured
w ith p o p u la tio n (1930) o f —
250
500
1 000
2
3
N u m b e r o f o th e r b a n k s an d bra n ch e s in
c e n te r :
1
2
163
76
24
3
4
5
6
1
4
6
7
8 or more
2
1
11
72
12
1
63
23
2
20
25
5
1
5
3
1
1
1
3
1Mergers and consolidations are treated on a net basis in this table. N et increases reported in some of the larger size classifications— indicated by italics— result from
the consolidation of two or more banks into a larger institution.
CORPORATION
2
INSURANCE
C en ters
Under
250 to
500 to
2
2
1
DEPOSIT
288
$2,500,000
to
5,000,000
FEDERAL
Under
$25,000
banks
$50,000
to
100,000
$25,000
to
50,000
Table 113.
Location
O p e r a tin g B a n k s W h ic h W ith d r e w
Nam e of bank
Class of
bank
Mitchell Savings B a n k .................................
Schaller Savings B a n k ..................................
Bank of Com m erce.........................................
Eastern Trust and Banking C om pan y . .
Bath Trust C om p an y....................................
M aine— M illin ock et.......................
M aine— Po rtla nd.............................
M aine— R angeley............................
M ichigan— Three O a k s ................
Minnesota— O gilvie........................
Millinocket Trust C om p an y......................
Maine Savings B a n k ......................................
Rangeley Trust C om p an y...........................
The Bank of Three O a k s.............................
First State Bank of O gilvie........................
M utual savings
Commercial
N ebraska— M e Cool Junction . .
N ew Hampshire— Salmon Falls
N ew Jersey— M on tclair................
N ew Jersey— M orristow n ...........
N ew Jersey— N e w a rk ....................
The Blue River B a n k ....................................
Salmon Falls Bank . . . ...............................
The Montclair Savings B a n k .....................
The Morris County Savings B a n k ..........
The Dime Savings Institution..................
M utual savings
N ew
N ew
N ew
N ew
N ew
Franklin Savings Institution o f Newark
The H alf Dim e Savings B a n k ...................
Orange Savings B a n k ....................................
The Paterson Savings In stitu tio n ...........
Plainfield Savings B a n k ................................
N e w a rk ...................
O range.....................
O range.....................
P aterson.................
Plainfield................
N ew Jersey— R a rita n ....................
N orth Carolina— L e noir..............
Pennsylvania— Pittsburgh..........
South D akota— Elk P o in t ..........
Raritan State B a n k ........................................
Lenoir Industrial Bank, Inc.3 ....................
The Union Savings Bank of Pittsburgh .
The Union County B a n k .............................
4,502
187
641
3.069
3.069
2,023
67
206
496
1,799
177
724
307,745
28,749
9,110
71
302
1,417
8,346
1,900
5,350
70,810
866
10
1,336
344
Commercial
M utual savings
Commercial
1
1
6
356
500
42,017
15,197
442.327
4
47
128
87
10,258
15,511
7,530
442.327
35.399
35.399
138,513
34,422
47
5
5
17
5
30,969
8,250
8,115
28,427
3,486
1
2
908
40
29,757
552
4,751
6,532
669,817
1,294
51
1 E xcludes one ban k w hich had paid all of its deposits through voluntary liqu idation before applying for perm ission to w ithdraw from insurance.
2 A s reported in R a n d M c N a lly Bankers D irectory for D ecem ber 31, 1935.
8 T h is ban k was su bsequ en tly readm itted to insurance.
1,397
25,067
716
1,177
91
October 12, 1935
August 31, 1935
October 12, 1935
BRANCHES
Iowa— M itc h e ll................................
Iowa— Schaller.................................
K entucky— L ouisville...................
M aine— B a n g o r................................
M aine— B a t h .....................................
382
39,828
1,608
1,835
893
AND
Illinois State Bank of East A lt o n ...........
Kell State B a n k ...............................................
The Sandborn Banking C o ..........................
Cresco State B a n k ..........................................
The Cresco Union Savings B a n k .............
1,280
164,072
19,212
9,643
3 ,GOO
Date of termi
nation of
insurance
BANKS
Illinois— East A lt o n .......................
Illinois— K e ll......................................
Indiana— Sandborn........................
Iowa— C resco.....................................
Iowa— C resco....................................
Commercial
Num ber of
Deposits (in
other banks thousands of
and branches
dollars)2
in center2
OF
The
The
The
The
The
Population
o f center
19302
19351
NUMBER
Colorado— B urlin gton ...................
Connecticut— H a rtfo rd .................
Connecticut— Stratford................
Connecticut— Thom psonville . .
Connecticut— W a te rto w n ...........
Jersey—
Jersey—
Jersey—
Jersey—
Jersey—
Bank of Burlington..............................
Hartford-Connecticut Trust Co. . . .
Stratford Trust C om p an y.................
Thompsonville Trust C o m p a n y . . .
W atertown Trust C o ............................
F rom In su r a n c e D u r in g
DEPOSITS IN BANKS
Table 114.
cn
O
DEPOSITS IN OPERATING B a n k s , DAILY AVERAGE OCTOBER 1 TO DECEMBER 31, 19351
INSURED AND NONINSURED BANKS GROUPED BY CLASS OF BANK, BY AMOUNT OF DEPOSITS, AND BY STATES AND POSSESSIONS
(Deposits in thousands of d o l l a r s ) ______________________________________________
M utual savings banks2
Commercial banks
All banks
Percent of deposits
in insured banks
Insured
Total
Total
M embers F R .
System
State
N on
insured2
Total
N on
Insured
insured
All
banks
M u t
C om
ual
mer
sav
cial
ings
banks banks
96.8
B a n k s w ith d e p o sits o f
$100,000 and under............
$100,000 to $ 2 5 0 ,0 0 0 .........
$250,000 to $ 5 0 0 ,0 0 0 .........
94,813
618,222
1,234,349
73,770
561,010
1,170,239
21,043
57,212
64,110
94,612
617,442
1,231,638
73,666
561,010
1,168,592
4,034
109,285
425,231
974
20,85C
62,667
68,658
430,875
680,694
20,946
56,432
63,046
780
2,711
1,647
97
78C
1,064
77.8
90.7
94.8
7 7 .9j
51.7
9 0 .9j............
94.9
60.8
$500,000 to $ 7 5 0 ,0 0 0 .........
$750,000 to $ 1 ,0 0 0 ,0 0 0 . . .
$ 1,000,000 to $ 2 ,0 0 0 ,0 0 0 .
1,086,250
9 21,736
2 ,718,369
1,044,611
876,154
2,5 6 1 ,3 0 3
41,639
45,582
157,066
1,078,853
904,789
2,617,212
1,043,287
872,730
2,547,175
496.770
446.770
1,406,532
73,329
64,402
222,103
473,188
361,558
918,540
35,566
32,059
70,037
7,397
16,947
101,157
1,324
3,424
14,128
6,073
13,523
87,029
96.2
95.1
94.2
96.7
96.5
97.3
20.2
8 3,30? 469,085 34,350 434,735
486,845 4,365,001 198,228 4,166,773
558,206 4 ,913,697 724,630 4,189 ,0 6 7
87.9
67.0
83.7
9 7.8
95.0
97.7
7.3
4.5
14.7
$ 2,00 0 ,0 0 0 to $ 5 ,0 0 0 ,0 0 0 . 4 ,2 7 6 ,2 7 2 3 ,7 5 8 ,2 3 5
$5,000,000 to $ 5 0 ,0 0 0 ,0 0 0 1 4,106,648 9 ,4 5 3 ,0 3 0
Over $ 5 0 ,0 0 0 ,0 0 0 .............. 2 9,203,567 2 4 ,456,294
S t a t e s — t o t a l ................
510,174 929,858
518,037 3,807,187 3,723,885 2,283,853
4,6 5 3 ,6 1 8 9,741,647 9,254,8C2 5,502,874 2,354,886 1,397,042
4,7 4 7 ,2 7 3 24,289,870 23,731,664 13,476,392 9 ,897,479 357,793
201
5 4,14 2 ,7 3 9 43,9 5 1 ,3 0 1 10,191,438 44,265,763 42,973,466 24,151,741 13,206,864 5,614,861 1,292,297 9,876 ,9 7 6 977,835 5,899,141
A la b a m a .......................
A r izo n a.........................
A rkansas......................
C aliforn ia....................
C olo rad o.......................
241,562
62,672
164,944
3,5 4 2 ,5 3 3
296,371
239,612
62,672
163,932
3 ,5 2 1 ,3 1 0
294,159
C on n ecticu t................
D elaw are......................
District o f Columbia
F lo rid a ..........................
G eorgia.........................
1 ,195,436
152,274
3 01,032
248,119
3 87,498
442,770
121,054
301,032
245,376
3 82,527
I d a h o .............................
Illinois...........................
In d ia n a .........................
I o w a ...............................
K a n s a s ..........................
77,076
3 ,4 6 9 ,2 4 8
684,276
532,605
3 8 0,716
70,590
3 ,4 6 0 ,5 5 7
665,432!
502,457;
325,790!
241,562
62,672
164,944
3,542,533
296,371
239,612
62,672
163,932
3,521,310
294,159
172,193
41,010
86,016
2,459,940
250,734
32.357
7,357
16,159
663,297
21.357
35,062
14,305
61,757
398,073
22,068
511,770
121,207
301,032
248,119
387,498
442,770
121,054
301,032
245,376
382,527
262,506
16,757
172,450
193,959
273,018
62,765
64,853
71,233
7,632
51,298
117,499
39,444
57,349
43,785
58,211
69,000
153
77,076
6,486
8,691 3,469,248
664,311
18,844
30,148
532,605
380,716
54,926
70,590
3,460,557
651,949
502,457
325,790
32,766
2,535,788
350,844
217,697
223,518
27,486
625,154
38,653
72,817
15,122
10,338
299,615
262,452
211,943
87,150
6,486
8,691
12,362
3 0,148
54,926
1,950
1,012
21,223
2,212
752,666
31,220
2,743
4,971
1,950
81.2
97.1
99.2
99.2
100.0
100.0
99.4
99.4
99.3
1,012
21,223
2,212
683,666
31,067
683,666
31,067
2,743
4,971
19,965
6,482
9.9
17.9
14.0
9 9 .4|
99.4
99.3
37.0
79.5
86.5
99.9
100.0
100.0
98.9
98.7
98.9
98.7
91.6
99.7
97.2
94.3
85.6
91.6
99.7!
98.1!
9 4 .3 1
85.61
67.5
CORPORATION
81.0
INSURANCE
U n ite d S t a t e s a n d
P o sse ssio n s— to t a l 54,260,226 43,9 5 4 ,6 4 6 10,305,580 44,383,250 42,976,811 24,151,741 13,206,864 5 ,618,206 1,406,439 9 ,876,976 977,835 5,899,141
DEPOSIT
N ational
N ot
members
F. R.
System
FEDERAL
Insured
N on
insured2
11,571
409
121,423
244,425
2,140,267
390,174
359,517
186,001
521,968
1.777.720
378,603
359,108
171,885
484,080
1,729,441
214,452
258,430
111,179
294,792
1,275,832
35,587
31,062
30,753
90,723
351,584
128,564
69,616
29,953
98,565
102,025
11,571
409
14,116
121,659
37,888
207,747
48,279 2,091,988
M ichigan . .
M in n e so ta .
M ississipp i.
M isso u ri. . .
M o n ta n a . . .
1,151,974
8 68,427
158,252
1,286,720
130,930
1,110,660
858,941
154,932
1 ,279,327
130,804
41,314
9,486
3.320
7,393
126
1,151,974
804,114
158,252
1.286.720
130,930
1,110,660
794,628
154,932
1,279,327
130,804
641,973
644,030
57,062
591,770
77,307
271,439
6,347
1,216
495,874
32,965
197,248
144,251
96,654
191,683
20,532
41,314
9,486
3.320
7,393
126
N e b ra sk a ................
N e v a d a ....................
N ew Hampshire . .
N ew Jersey..............
N ew M e x ic o ..........
315,523
24,900
264,220
1 ,872,240
4 3,697
304,361
24,704
72,560
1 ,653,379
43,195
11,162
315,523
196
24,900
191,660
78,791
218,861 1,549,271
502
43,697
304,361
24,704
72,560
1,518,540
43,195
245,055
20,540
63,422
690,254
33,898
4,003
55,303
4,164
7,833
322,788
7,277
11,162
196
6,231
30,731
502
5,367,761 13,164,570 12,486,703
3.320
375,878
372,558
1,413
73.126
71,713
4,927 1,863,284 1,858,357
3,155
386,223
383,068
4,840,032
87,780
53,730
868,852
340,156
7,074,471
142,625
506
572,200
142,153
17,983
297,599
42,406
240,806
4,107,137
225,030
118,135
83,492
211,005
2,420,280
82,426
68,029
50,903
3,605
1,148,415
136,392
7,960
10,787
26,196
538,442
6,212
42,146
21,802
60
47,974
63,202
7,703
552
425,378
1,144,235
138,909
100,173
499,945
423,064
1,123,703
138,909
100,173
498,976
316,147
986,415
70,805
48,550
316,170
13,820
39,469
44,633
2,314
20,532
78,446
93,097
97,819
23,471
51,623
104,360
299,040
127,717
413,368
41,144
42,401
58,613
71,315
3,584
28,967
53,574
246,473
12,831
5,762
5,719
8,227
N ew Y o r k ...........
N orth Carolina .
N orth D akota . .
O h io ......................
O k la h o m a ..........
1 8,353,515 12,985,754
3 7 5,878
372,558
73.126
71,713
1 ,979,837 1,974,910
386,223
383,068
1,305
505,498
2,020
* '691,966
14,352
1,210
185,429
322,969 134,839
107,307
206,537
2,091,988
185,429
188,130
677,867 5,188,945 499,051 4,68 9 ,8 9 4
3.320
1,413
116,553 116,553
4,927
3,155
97.0
99.9
60.5
66.5
44.7
97.0
99.9
92.4
92.7
97.3
96.4
98.9
97.9
99.4
99.9
96.4
98.8
97.9
99.4
99.9
96.5
99.2
27.5
88.3
98.9
96.5
99.2
92.1
98.0
98.9
70.8
99.1
98.1
99.8
99.2
94.9
99.1
98.1
99.7
99.2
99.9
87.5
49.0
93.9
99.3
99.9
98.8
78.1
93.9
99.3
99.5
98.2
100.0
100.0
99.8
99.5
98.2
100.0
100.0
99.8
98.7
97.7
98.8
100.0
98.5
97.7
98.9
100.0
O regon ................
Pennsylvania . .
Rhode Island . .
South Carolina .
South D a k o t a . .
241,667
4 ,6 9 7 ,5 1 2
4 59,285
125,838
84,044
241,607
4 ,1 1 2 ,5 1 2
225,030
118,135
83,492
T ennessee. .
T e x a s ...........
U ta h .............
V e r m o n t. . .
Virginia
4 25,378
1,144,235
138,909
168,666
4 99,945
423,064
1,123,703
138.909
168,666
4 98,976
2,314
20,532
4 31,671
245,623
743,809
57,559
425.909
239,904
735,020
57,559
5,762
5,719
8,789
376,170
245,623
739,383
57,559
370,408
239,904
731,156
57,559
117,487
3,345
114,142
117,487
3,345
3,345
114,142
2.8
2.8
12,988
9 4,373
10.126
2,279
1,066
10,709
93,307
10,126
12,988
94,373
10.126
2,279
1,066
2,279
1,066
10,709
93,307
10,126
17.5
1.1
17.5
1.1
W ashington . .
W est Virginia .
W isco n sin . . . .
W yom in g . . . .
P o s s e s s io n s — t o t a l .
A la sk a .............................
H a w a ii.............................
Puerto R ic o ..................
Virgin Islands of the
United S ta te s ..........
60
240,866
585,000 4,155,111
234,255
288,232
7,703
125,838
552
84,044
1See footnote 1, Table 102, for number of banks without deposits or for which deposits are not available.
2Deposits as of December 31, 1935.
801
542,401
171,053
801
5,375
68,493
68,493
55,501
55,501
’ 4,426
3,864
969
537,026
171,053
11.8
.6
100.6
41.7
9.6
100.0
100.0
1.0
100.0
100.0
87.3
BANKS
378,603
3 59,108
186,237
485,290
1,729,441
IN
390,174
3 5 9,517
307,660
729,715
3 ,8 6 9 ,7 0 8
DEPOSITS
K e n tu c k y ..........
L o u isia n a...........
M a in e ..................
M a r y la n d ...........
M assach u setts.
T a b le 115.
DEPOSITS IN OPERATING UNIT BANKS, DAILY AVERAGE OCTOBER 1 TO DECEMBER 3 1 , 1 9 3 5 1
INSURED AND NONINSURED BANKS GROUPED BY CLASS OF BANK, BY AMOUNT OF DEPOSITS, AND BY STATES AND POSSESSIONS
(Deposits in thousands of dollars)
Commercial banks
All banks
M utual savings banks2
Percent of deposits
in insured banks
Insured
N on
insured2
Total
Total
N a
tional
26,841,276 20,824,062
6 ,0 1 7 ,2 1 4 21,525,666 20,316,557 13,273,269
N on
insured2
2,899,932 4,143,356
Total
Insured
5,315,610
N on
insured
C om Mutual
All
mercial savings
banks
banks banks
4 ,808,105
77.6
9.5
73,663
548,975
1,133,809
21,043
56,743
62,235
94,505
604,938
1,193,333
73,559
548,975
1,132,162
4,034
109,285
424,921
974
20,708
62,363
68,551
418,982
644,878
20,946
55,963
61,171
201
104
780
2,711
1,647
97
780
1,064
77.
90.7
94.8
77.8
90.7
94.9
$500,000 to $ 7 5 0 ,0 0 0 ....
$750,000 to $ 1 ,0 0 0 ,0 0 0 . .
$1,000,000 to $2,00 0 ,0 0 0
1,037,875
879,993
2 ,582,470
997,386
836,106
2,443,440
40,4 8 9
43,8 8 7
139,030
1,030,478
863,046
2,488,187
996,062
832,682
2,429,312
494,940
443,199
1,398,450
72,797
64,402
215,065
428,325
325,081
8 15,797
34,416
30,364
58,875
7,397
16,947
94,283
1,324
3,424
14,128
6,073
13,523
80,155
96.1
95.0
94.6
96.7
96.5
97.6
$2,00 0 ,0 0 0 to $ 5,000,000
$ 5 ,000,000 to $ 50,000 ,000
Over $ 5 0 ,000 ,000 ...........
3 ,8 7 0 ,3 9 7
9 ,1 3 5 ,6 8 9
7 ,438,384
3 ,3 9 8 ,7 3 3
5,7 4 1 ,2 0 6
5 ,6 5 0 ,7 4 4
4 71,664
3 ,3 9 4 ,4 8 3
1,787,640
3,426,783
5,923,300
5,901,096
3,364,383
5,596,532
5,342,890
2,186,686
3,970,688
4,241,066
431,552
930,247
1,101,824
746,145
695,597
62,400 443,614 34,350 409,264
326,768 3,212,389 144,674 3,067,715
558,206 1,537,288 307,854 1,229,434
87.8
62.8
76.0
98.2
94.5
90.5
20.0
2,899,932 4,141,077 1,192,446 5,315,610 507,505 4 ,808,105
77.6
94.5
9.5
99.0
99.0
100.0
100.0
99.4
99.1
99.3
99.4
99.1
99.3
S ta te s — t o t a l .
2 6,822,334 20,82 1 ,7 8 3
188,523
21,470
161,551
571,034
296,371
186,573
21,470
160,539
565,775
294,159
C onnecticut................
D elaw are......................
District of Colum bia
F lorid a..........................
G eorgia.........................
1,017,759
4 3,496
77,757
248,119
151,028
338,053
35,577
77,757
245,376
146,458
Id ah o. .
Illinois. .
Indiana .
Iowa . . .
Kansas .
3 7,870
3,4 6 9 ,2 4 8
5 28,536
462,189
380,716
31,384
3 ,4 6 0 ,5 5 7
510,056
436,191
325,790
Alabam a . .
Arizona . . .
Arkansas. .
C alifornia.
C olorado. .
6,0 0 0 ,5 5 1 21,506,724 20,314,278 13,273,269
188,523
21,470
161,551
571,034
296,371
186.573
21,470
160,539
565,775
294,159
121,527
9,443
86,016
419,179
250,734
32,053
7,357
16,159
44,550
21,357
32,993
4,670
58,364
102,046
22,068
367,225
35,730
77,757
248,119
151,028
338,053
35,577
77,757
245,376
146,458
179,224
16,757
39,311
193,959
54,110
62,765
9,378
29,172
153
7,632
34,758
96,064
9,442
38,446
43,785
57,590
37,870
6,486
8,691 3,469,248
508,571
18,480
462,189
25,998
380,716
54,926
31,384
3,460,557
496.573
436,191
325,790
17,852
2,535,788
269,012
217,697
223,518
5,594
625,154
7,626
72,817
15,122
7,938
299,615
219,935
145,677
87,150
6,486
8,691
11.998
25.998
54,926
1,950
1,012
5,259
2,212
679,706
7,919
2,743
4 ,570
1,950
1,012
5,259
2,212
650,534
7,766
650,534
7,766
2,743
4,570
19,965
13,483
6,482
33.2
81.
92.1
99.6
100.0
100.0
98.9
97.0
98.9
97.0
82.9
99.8
96.5
94.4
85.6
82.9
99.8
97.6
94.4
85.6
51.7
60.8
17.9
20.2
15.0
7.7
4.5
67.5
CORPORATION
9 4,706
605,718
1 ,196,044
INSURANCE
B a n k s w ith d e p o s its o f
$100,000 and under.
$100,000 to $ 2 5 0 ,0 0 0 ..
$250,000 to $ 5 0 0 ,0 0 0 ..
DEPOSIT
U n ite d S ta te s a n d
P o ssessio n s— to ta l .
State
N ot
m em
bers
F. R.
System
FEDERAL
Insured
Members F. R .
System
11,571
409
84,690
223,420
1,642,391
258,145
127,789
113,646
214,279
560,574
246.574
127,380
109,514
177,651
512,295
108,988
51,663
98,063
109,397
350,354
23,387
24,843
2,911
19,203
102,215
114,199
50,874
8,540
49.051
59,726
11,571
409
4 ,132
94,910
36,628
188,002
48,279 1,594,112
M ich ig a n . . .
M in n eso ta . .
M ississipp i.
M issou ri. . .
M o n ta n a . . .
364,746
625,877
137,463
1,286,720
130,930
327.575
616,391
134,143
1 ,279,327
130.804
37,171
9,486
3,320
7,393
126
364,746
561,564
137,463
1,286,720
130,930
327.575
552,078
134,143
1,279,327
130.804
121,068
401,480
55,883
591,770
77,307
86,777
6,347
1,216
4 95,874
32,965
119,730
144,251
77,044
191,683
20,532
37,171
9,486
3 ,320
7,393
126
302,445
9,005
263,658
932,163
4 0,956
291,283
8,809
71,998
8 02,037
4 0,454
11,162
196
191,660
130,126
502
302,445
9,005
78,229
741,116
40,956
291,283
8,809
71,998
710,385
40,454
231,977
4,645
62,860
432,875
33,898
4 ,003
55,303
4 ,164
7,833
182,477
4 ,5 3 6
11,162
196
6,231
30,731
502
N ew Y o r k ...........
N orth Carolina .
N orth D akota . .
O h io ......................
O klahom a..........
4 ,5 0 6 ,6 4 9
204,315
73,126
959,033
386,223
1,988,323
204,315
71,713
954,106
383,068
2,518,326
2,583,915
204,315
73.126
842,480
386,223
1,906,048
204,315
71,713
837,553
3 83,068
1,263,091
77,027
53,730
498,705
3 40,156
294,025
66,188
1,413
4,927
3,155
Oregon ................
Pennsylvania. .
Rhode Island . .
South C arolin a.
South D akota . .
70,927
2 ,523,882
189,015
71,608
61,787
70,867
2 ,429,263
35,953
63,905
61,235
60
94,619
153,062
7,703
552
70.126
2,469,478
82,028
71,608
61,787
70,066
2,423,888
35,953
63,905
61,235
41,377
1,641,906
3 2,596
35,288
28,786
3,605
3 36,867
Tennessee.
T e x a s. . . .
U t a h ...........
V e rm o n t. .
V irgin ia. . .
255,660
1 ,144,235
87,517
140,126
287,232
253,346
1,123,703
8 7,517
140,126
286.804
2,314
20,532
255,660
1,144,235
87,517
82,000
287,232
253,346
1,123,703
87,517
82,000
286.804
179,474
986,415
20,367
46,854
191,246
13,820
39,469
44,633
198,549
2 43,855
4 5 9,949
57,559
192,787
238,136
4 51,545
57,559
5,762
5,719
8,404
143,048
243,855
455,523
57,559
137,286
238,136
447,681
57,559
85,757
127,717
215,278
41,144
18,942
2.279
16,663
18,942
11,520
6,039
1,383
2.279
9,241
6,039
1,383
11,520
6,039
1,383
N eb rask a................
N e v a d a ....................
N ew H am pshire . .
N ew Jersey.............
N ew M e x ic o ..........
W ash in gton . . .
W est Virginia .
W isconsin. . . .
W y o m in g . . . .
P o ssessio n s— t o t a l .
A la sk a .............................
H a w a ii..........................
Puerto R ic o ................
Virgin Islands o f the
United States
428
1,305
95,033
2,020
94,509
506
185,429
191,047
677,867 1,922,734
1,413
4,927
3 ,155
80,558
1,210 186,792
1,594,112
64,313
91,652
185,429
99,395
82,275 1,840,459
116,553 116,553
95.5
99.7
59.4
44.5
23.8
95.5
99.7
96.4
82.9
91.4
89.8
98.5
97.6
99.4
99.9
89.8
98.3
97.6
99.4
99.9
96.3
97.8
27.3
86.0
98.8
96.3
97.8
92.0
95.9
98.8
44.1
100.0
98.1
99.5
99.2
73.8
100.0
98.1
99.4
99.2
99.9
96.3
19.0
89.2
99.1
99.9
98.2
43.8
89.2
99.1
99.1
98.2
100.0
100.0
99.9
99.1
98.2
100.0
100.0
99.9
97.1
97.7
98.2
100.0
96.0
97.7
98.3
100.0
25,084
4 45,115
3 ,357
25,535
21,662
60
45,590
46,075
7,703
552
2,314
20,532
24,210
60.052
97,819
22,517
35,146
71,348
25,696
58,613
19,917
3 ,584
25,833
51,806
212,486
12,831
5,762
5,719
7,842
2.279
2.279
16,663
12.0
12.0
2.279
2.279
9,241
6,039
1,383
19.8
19.8
3,082
10,787
xSee footnote 1, Table 103, for number of banks without deposits or for which deposits are not available.
2Deposits as of December 31, 1935.
348,932
61,100
17,983
244,339
4 2,406
64,313
14,352
801
54,404
106,987
801
5,375
58,126
58,126
55,501
55,501
4,426
3,864
428
49,029
106,987
15.1
.6
100.0
48.0
4.3
100.0
100.0
9.9
100.0
100.0
87.3
BANKS
246.574
127,380
123,866
178,861
512,295
IN
258,145
127,789
208,556
402,281
2 ,154,686
DEPOSITS
K e n tu c k y ..........
L ouisiana...........
M a in e ..................
M a ry la n d ..........
Massachusetts .
154
Table 116. DEPOSITS IN BANKS OPERATING BRANCHES, DAILY AVERAGE OCTOBER 1 TO DECEMBER 31, 1935
INSURED AND NONINSURED BANKS GROUPED BY CLASS OF BANK, BY AMOUNT OF DEPOSITS, AND BY STATES AND POSSESSIONS
(D ep o sits in th ou san d s of dollars)
Mutual savings banks1
Commercial banks
All banks
Banks operating branch
systems that are—
Insured
Insured
N on
insured
Total
Total
National
State
Not
N on
mem insured
bers
C)
F. R.
System
Total
In
sured
Nonin?ured
107
12,504
38.305
107
12,035
36,430
469
1,875
107
12,504
38,305
107
12,035
36,430
310
142
304
$500,000 to $750,000____
$750,000 to $ 1,000,000. .
$1,000,000 to $2,000,000.
48,375
41,743
135,899
47,225
40,048
117,863
1,150
1,695
18,036
48,375
41,743
129,025
47,225
40,048
117,863
1 830
3,571
8,082
7,038
359,502
380,404
46,373
359,502
405,875
$2,000,000 to $5,000,000.
$5,000,000 to $50,000,000 4,964,231 3 ,711,824 1,252,407 3,818,347 3,658,270
'RSft non oon
21,765,183 18,805,550 2,959,633 18,388,774 18,388,774
532
97,167
78,622
1,532,186 1,424,639
9,235,326 8,795,655
99.1
100.0
96.2
95.1
100.0
96.2
95.1
6,874
97.6
95.9
86.7
97.6
95.9
91.3
25,471
183,713 20,902
25,471
701,445 160,077 1,145,884 53,554 1,092,330
3,376,409 416,776 2,959,633
357,793
88.6
74.8
86.4
94.5
95.8
1G0.0
4.7
12.3
84.7
99.6
10.3
2,069 100.0
50,970
32,180 100.0
9,022
734 100.0
2,659
240,840 2,192,244 99.5
100.0
100.0
100.0
99.5
107
11,893
35,816
469
1,875
44,863 1,150
36,477 1,695
102,743 11,162
6,874
States— t o t a l ...................... 27,313,677 23,129,518 4,184,159 22,759,039 22,659,188 10,878,472 10,306,932 1,473,784 99,851 4,554,638 470,330 4,084,308 21,038,163 1,925,351 4,350,163
AlflbftlTld
Arizon&
Arkansas
California
53,039
41,202
3,393
2,955,535
50,666
31,567
304
2,040,761
618,747
2,069
9,635
3,393
296,027 15,964
144,545
85,477
223,275
104,717
85,477
223,275
133,139
55,475
71,233
21,435 39,828
30,002
18,903
236,470
'236,069
218,908
16,540
621
39,206
39,206
14,914
21,892
2,400
364
4,150
155,740
70,416
155,376
66,266
81,832
31,027
42,517
66,266
36,733
21,005
4 97,876
132,029
231,728
72,355
307,689
1,217,146
105,464
206,767
13,116
185,395
925,478
12,200
6,219
27,842
71,520
249,369
14,365
18,742
21,413
49,514
42,299
53,039
41,202
3,393
2,955,535
177,677
108,778
223,275
104,717
85,477
223,275
72,960
23,301
236,470
236,069
401
39,206
39,206
155,740
70,416
155,376
66,2 66
132,029
231,728
99,104
327,434
1,715,022
132,029
231,728
62,371
306,429
1,217,146
Connecticut
Delaware
District o f C olum bia... .
Idaho
Indiana
Kentucky
Louisiana
Maine
Maryland
Massachusetts.............
53,039
41,202
3,393
2,971,499
53,039
41,202
3,393
2,971,499
15,964
132,029
231,728
62,371
306,429
1,217,146J
83,282
538,415
33,132
23,301
137,849
78,777
223,275
150,588
401
364
4,150
9,984
1,260
33,132
23,301
26,749
19,745
497,876
39,828
27,636
58.9
78.6
100.0
621
85,261
99.8
99.8
632
38,574 100.0
100.0
2,365
135,984
18,530
51,411
117,664
210,081
26,749
32,104
19,745
260,087
497,876 1,492,182
7,910
17,255
20,964
11,055
211,490
72.4
100.0
100.0
99.8
94.1
99.8
94.1
(>,455 100.0
4,392 100.0
46,036 62.9
56,292 93.6
11,350 71.0
100.0
100.0
86.2
99.6
100.0
1,226
19,005
10.3
CORPORATION
84.4
(Possessio ns not clas sified)
INSURANCE
Banks w ith deposits o f —
$100,000 and under........
$100,000 to $250,000. . . .
$250,000 to $ 50 0,0 00 .. . .
M u
Com tual
In more
mer sav
County- than one All
county banks cial
wide
ings
banks banks
DEPOSIT
U nited States and Possess i o n s -t o t a l ............. 27,412,222 2 3,130,584 4,281,638 22,857,584 22,660,254 10,878,472 10,306,932 1,474,850 197,330 4,554,638 470,330 4,084,308
Citywide
FEDERAL
Total
Members F. R.
System
Percent of deposits
in insured banks
Michigan. . .
Minnesota. .
Mississippi.
M issouri. . .
Montana . . .
787,228
242,550
20,789
783,085
242,550
20,789
Nebraska . . . . . . . .
N evada...............
New Hampshire. ,
New Jerse.y........
New M exico . . . .
13,078
15,895
562
940,077
2,741
13,078!
15,895
562
851,342
2,741
New Y ork...........
North Carolina .
North Dakota . .
O hio.....................
Oklahom a...........
88,735
787,228
242,550
20,789
783,085
242,550
20,789
520,905
242,550
1,179
13,078
15,895
562
808,155
2,741
13,078
15,895
562
808,155
2,741
13,078
15,895
562
257,379
13,840,138 10,997,43112,842,707 10,580,655 10,580,655
168,2431
3,320
171,563
168,243
171,563
1,020,804
410,465
140,311
2,741
3,576,941 6,780,446
10,753
76,437
223,268
81,053
136,673
33,045
51,392
18,173
212,172
50,438
1,696
124,924
954
16,477
33,012
233,122
1,768
283,475
233,122
1,768
283,475
213,283
385
233,122
1,768
283,860
1,066
97,479
98,545
1,066
1,066 97,479
’ 1,666
1,468
87,268
8,743
1,468
88,334
8,743
’ 1,066
1,468
’ 1,066 87,268
8,743
0
O
Possessions— to ta l.
1,468
88,334
8,743
0
1 D ep osits as o f D ecem b er 31, 1935.
323,249
299,078
26,578
59,349
1,753
1,112
169,628
224,968
136,393
47,599
22,257
95,926
11,930
19,510
18,005
39,46-2
9,030
98,782
16,705
3,335
1,094
242,995
15,118
674
30,775
214,669
’ 198,690
487,997
64,066
1,922,084
74,528
4,878
59,683
10,367
3,134
1,768
33,987
10,367
(Possessio
57,279
79.5
98.1
100.0 100.0
77.4
70.0
100.0
100.0
100.0
100.0
100.0
99.7
99.9
91.7
100.0
100.0
100.0
100.0 I
100.0 100.0
99.7
100.0 100.0
100.0 100.0
99.9
sified)
98.1
99.9
BANKS
169,718
51,392
18,173
212,713'
233,122
1,7682 83 ,86 c
212,223
149,919
IN
169,718
51,392
28,540
212,172
100.0
100.0
100.0
100.0
100.0
100.0
204,224
5,144
487,997
64,066
99.5
100.0
14,475 100.0
562 100.0
50,768 90.6
1,643 100.0
3,259,483 416,776 2,842,707 13,423,691
16,500
1,112
93,327
2,384
2,855 17,127
16,611
140
99.5
100.0 100.0
100.0
348,985
1,098
53,260
811,548
136,392
4,878
13,859
’ 1 4,i97 100.0
’ ‘5 40,324
131,922
169,718
51,392
28,540
212,713
O
2 D eposits not available.
155
1,420
169,628
778,374
49,830
32,741
22,117
490,381
81,193
622,014 151,355
242,550 ................
6,592
13,078
170,740
1,683,249
189,077
54,230
22,257
169,718
Alaska.........................
H awaii.........................
Puerto R ic o ................
Virgin Islands o f the
United States. . . .
4,143
170,740
1,685,633
206,204
54,230
22,257
170,740
1,683,249
189,077
54,230
22,257
Washington . .
West Virginia.
Wisconsin . . . .
Wyoming . . . .
77,518
370,147
170,740
2,173,630
270,270
54,230
22,257
Tennessee. . . .
Texas...............
U ta h ................
Verm ont.........
Virginia...........
184,662
DEPOSITS
O regon..............
Pennsylvania . . ,
Rhode Island . .
South Carolina .
South Dakota . .
4,143
T a b le
117.
DEPOSITS IN OPERATING COMMERCIAL BANKS, DAILY AVERAGE OCTOBER 1 TO DECEMBER 3 1 , 1 9 3 5 1
Ol
Ci
INSURED AND NONINSURED BANKS GROUPED BY AMOUNT OF DEPOSITS IN EACH STATE AND POSSESSION
Banks with deposits of—
All
banks
$100,000
$100,000
$500,000
to
750,000
$750,000
to
1,000,000
$ 1,000,000
$ 2 ,000,000
to
2,000,000
to
5,000,000
$5,000,000
to
50,000,000
Over
$50,000,000
1,231 ,6 3 8
1.168.592
63,046
(Deposits in thousands of dollars)
904 ,7 8 9
2 ,6 1 7 ,2 1 2
1 ,0 7 8 ,8 5 3
872,730
2,5 4 7 ,1 7 5
1.043.287
32,059
70,037
35,566
3 ,8 0 7 ,1 8 7
3.723.885
8 3,302
9 ,7 4 1 ,6 4 7
9 .2 5 4 .8 0 2
486,845
2 4 .2 8 9 .8 7 0
23.731.664
558.206
4 4 ,2 6 5 ,7 6 3
4 2 ,9 7 3 ,4 6 6
1 ,29 2 ,2 9 7
9 4,600
73.666
20,934
617,025
561.010
56,015
1,229 ,8 0 4
1.168.592
61,212
1 ,0 7 7 ,5 4 5
1.043.287
34,258
902,046
871,847
30,199
2,60 7 ,8 6 1
2,5 4 4 ,7 1 3
63,148
3 ,7 9 0 ,5 6 9
3.72 3 .8 8 5
66,684
9 ,6 5 6 ,4 4 3
9 .254.802
401,641
2 4 .2 8 9 .8 7 0
2 3.731.664
558.206
241,562
239,6 1 2
1,950
62.672
6 2.672
1,491
1,368
123
11,851
10,921
930
159
159
20,496
20,123
373
12,718
12,194
524
1.203
1.203
8.785
8.785
22.905
22.905
36.892
36.892
75.758
75.758
50.666
50.666
2.772
2.772
20,282
2 0,282
38.256
38.256
164,944
163,932
3,341
2,920
421
199
106
93
1,196
633
563
10,614
10,445
169
4,339
4,190
149
5,804
5,420
384
16,765
16,343
422
24.096
24.096
13.972
13.972
5.449
5.449
21.896
21.896
12.577
12.577
80.330
80.330
24.761
24.761
18.039
18.039
8,017
7,452
565
7.239
7.239
103,377
99,438
3 ,939
25.391
25.391
’296,195
280,231
15,964
151.144
151.144
3.026.502
3.02 6 .5 0 2
16,611
15,911
700
45,025
43,947
1,078
24.902
24.902
95
89
1,980
1,388
592
834
834
3 ,329
2,0 4 3
1,286
3.900
3.900
6.791
6.791
8,123
7,230
893
2.443
2.443
37,207
29,440
7,767
11.169
11.169
93,033
90,922
63.702
63.702
11.173
11.173
297,510
241,165
56,345
88.372
88.372
918
918
2.674
2.6 7 4
13.894
13.894
194.800
194.800
88.411
88.411
8.383
8.383
10.687
10.687
39.300
39.300
138.800
138.800
13,862’
13,862
' 7,687'
6,810
877
30,911
29,467
1,444
34.805
3 4.805
30.672
30.672
72.292
72.292
S t a t e s — t o t a l ..................
I n s u r e d b a n k s ..........
N o n in s u r e d b a n k s .
A la b a m a ..............................
I n s u r e d b a n k s ..........
N o n in su red b a n k s.
A rizo n a................................
I n s u r e d b a n k s ..........
N o n in su red b a n k s.
A rk an sa s.............................
I n s u r e d b a n k s ..........
N o n in s u r e d b a n k s .
C alifornia............................
I n s u r e d b a n k s ..........
N o n in s u r e d b a n k s .
C olo rad o.............................
I n s u r e d b a n k s ..........
N o n in su red b a n k s .
C on necticut.......................
I n s u r e d b a n k s ..........
N o n in su red b a n k s.
D elaw are............................
I n s u r e d b a n k s ..........
N o n in s u r e d b a n k s .
District o f Columbia . .
In s u r e d b a n k s ..........
N o n in su red b a n k s.
F lorid a .................................
I n s u r e d b a n k s ..........
N o n in s u r e d b a n k s .
G eorgia................................
I n s u r e d b a n k s ..........
N o n in su red ba n k s .
1,012
!,542 ,533
1 5 21 ,31 0
21,2 2 3
296,371
294,159
2,212
511.770
442.770
6 9,000
121,207
121,054
153
301.032
3 01.032
2 48,119
245,3 7 6
2 ,7 4 3
3 87,498
3 82,527
4,971
6
426
273
153
2.890
2.890
335
335
1,221
1,161
60
4,009
2,501
1,508
5.817
5.817
15,472
13,935
1,537
13,000
11,761
1,239
22,575
21,526
1,049
2,111
56.067
56.067
186.124
186.124
CORPORATION
6 17,442
561.010
56,432
INSURANCE
94,612
73.666
20,946
DEPOSIT
S ta te s a n d P o s s e s s io n s
4 4 ,3 8 3 ,2 5 0
t o t a l ..........................................
42,976,811
I n s u r e d b a n k s .............................
1 ,406,439
N o n in s u r e d b a n k s ....................
U n ite d
FEDERAL
to
250,000
and
under
$250,000
to
500,000
2.339
2.339
5.428
5.428
6.321
6.321
831
831
3,279
2,969
310
2,333
1,618
715
1,865
991
874
9,098
3,225
5,873
39,822
38,969
853
26,700
23,901
2,799
35,819
2 9,830
5,989
44,180
26,342
17,838
75,094
73,002
2,092
44,766
41,615
3,151
72,675
65,370
7,305
59,109
43,510
15,599
68.223
68.223
42.442
42.442
42,320
40,378
1,942
52,631
50,187
2,4 4 4
32,566
27,036
5,530
28.584
28.584
42,855
38,419
4,436
33,407
27,247
6,160
9,406
8,346
1,060
142,854
139,441
3,413
105,137
101,382
3,755
93,263
87,838
5,425
55,498
51,572
3,926
390,174
378,603
11,571
359,517
359,108
409
186,001
171,885
14,116
521,968
484,080
37,888
1.777.720
1,729,441
48,279
5,078
3,909
1,169
54 3
504
39
19,978
18,345
1,633
6 ,210
36,122
31 ,340
4,782
13.992
13.992
21,273
19,688
1,585
12.653
12.653
68,407
66,990
1,417
18.312
18.312
1,098
635
463
6.515
6.515
32,837
31,852
985
15,021
14,651
370
2,755
2,044
711
13.625
13.625
5,008
3,709
1,299
16.652
16.652
2.485
2.485
13.931
13.931
675
675
4.920
4.920
9.380
9.380
20.333
20.333
26,705
23,408
3,297
41,470
40,210
1,260
57,417
5 6,133
1,284
M ich ig a n .................................................
I n s u r e d b a n k s ..............................
N o n i n s u r e d b a n k s ....................
M in n e so ta ..............................................
I n s u r e d b a n k s .............................
N o n i n s u r e d b a n k s ....................
M ississipp i.............................................
I n s u r e d b a n k s ..............................
N o n in s u r e d b a n k s ....................
M issou ri..................................................
I n s u r e d b a n k s ..............................
N o n in s u r e d b a n k s ....................
M o n ta n a .................................................
I n s u r e d b a n k s .............................
N o n i n s u r e d b a n k s ....................
1,151,974
1,110,660
41,314
804,114
794,628
9.486
158,252
154,932
3,320
1.286.720
1,279,327
7,393
130,930
130,804
126
1,884
1,626
258
5,758
4,819
939
1,586
1,495
91
8,494
7,097
1,397
588
588
20,849
45,506
43,132
2,374
72,377
70,840
1,537
18,936
18,195
741
48,365
46,536
1,829
13.515
13.515
34,235
33,564
671
44,464
43,923
541
14,680
13,557
1,123
33,384
32,698
21,622
2 0 ,696
926
4 9,117
47,498
1,619
15,725
14,829
896
27,635
26,809
826
9.179
9.179
88,548
82,241
6,307
51,743
48,771
2 ,972
24.783
24.783
N eb ra sk a ................................................
I n s u r e d b a n k s ..............................
N o n in s u r e d b a n k s ....................
315,523
304,361
11,162
4,079
2,599
1,480
40,816
37,969
2,847
22.709
22.709
12,043
11,149
894
565
569
6,210
20,012
837
34,718
32,840
1,878
8,403
7,934
469
38,348
35,693
2,655
5,212
5,086
126
29,460
25,195
4,265
686
7.904
7.904
19,478
14,052
5,426
247,022
244,999
2,023
100.591
100.591
33.067
33.067
434.033
434.033
2.416.479
2.416.479
*225,993
225,993
87.887
87.887
’ 69,141'
65,466
3,675
53.567
5 3.567
164.356
164.356
4 9.808
4 9.808
104.212
104.212
52.459
52.459
*21,518
21,518
164.670
164.670
106.598
106.598
53.033
5 3.033
191,425
187,897
3,528
94,917
86,571
8,346
224,257
187,629
36,628
522,931
479,464
43,467
99,561
90,835
8,726
71.122
71.122
290,084
268,869
21,215
102,066
102,066
' 42,317
42,317
' 31,822
60.993
60.993
' 897204
89,204
262.532
262.532
14.802
14.802
33.151
33.151
46.579
46.579
27,546
25,870
1,676
22.931
22.931
155.939
155.939
44.338
4 4.338
93.291
93.291
160,611
160,611
970.574
970.574
549.685
549.685
BANKS
K e n tu c k y ...............................................
I n s u r e d b a n k s .............................
N o n i n s u r e d b a n k s ....................
L o u isiana................................................
I n s u r e d b a n k s ..............................
N o n i n s u r e d b a n k s ....................
M a in e .......................................................
I n s u r e d b a n k s ..............................
N o n i n s u r e d b a n k s ....................
M a r y la n d ...............................................
I n s u r e d b a n k s .............................
N o n i n s u r e d b a n k s ....................
M assach u setts......................................
I n s u r e d b a n k s .............................
N o n i n s u r e d b a n k s ....................
206
206
IN
77,076
70,590
6.486
3,469,248
3,460,557
8,691
664,311
651,949
12,362
532,605
502,457
30.148
380,716
325,790
54,926
DEPOSITS
Id a h o ........................................................
I n s u r e d b a n k s .............................
N o n i n s u r e d b a n k s ....................
Illinois......................................................
I n s u r e d b a n k s .............................
N o n i n s u r e d b a n k s ....................
In d ian a....................................................
I n s u r e d b a n k s .............................
N o n i n s u r e d b a n k s ....................
I o w a ..........................................................
I n s u r e d b a n k s .............................
N o n i n s u r e d b a n k s ....................
K a n sa s .....................................................
I n s u r e d b a n k s .............................
N o n i n s u r e d b a n k s ....................
372.749
372.749
31,822
717.765
717.765
cn
T a b le 117.
DEPOSITS IN OPERATING COMMERCIAL BANKS, D AIL Y AVERAGE OCTOBER 1 TO DECEMBER 3 1 , 1 9 3 5 1— C o n tin u e d
INSURED AND NONINSURED BANKS GROUPED BY AMOUNT OF DEPOSITS IN EACH STATE AND POSSESSION
Banks with deposits of—
N ew Y o r k ..............................................
In su red banks
North C aro lin a ....................................
I n s u r e d b a n k s ...........................
O regon .....................................................
I n s u r e d b a n k s ..............................
Pennsylvania........................................
In s u r e d b a n k s .............................
N o n i n s u r e d b a n k s ....................
Rhode Island
In s tired bd.nks
N o n in s u r e d b a n k s ....................
240,866
240,806
60
4,15 5 ,1 1 1
4 ,1 0 7 ,1 3 7
47,974
288,232
225,030
63,202
196
$1,000,000
to
2,000,000
$2,000,000
to
5,000,000
$5,000,000
to
50,000,000
(Deposits in thousands of dollars)
2,569
1,420
1,035
2 ,569
1,420
1,035
5,205
5,205
14,475
14,475
7,833
6,013
1,820
33,103
32,195
908
3,553
3,553
18,281
17,238
1,043
160,206
160,206
17,111
14,513
2,598
254,246
254,246
22,586
22,586
6,751
6,751
6,449
6,449
476,553
459,272
17,281
52,458
49,138
3,320
17,650
17,650
$500,000
to
750,000
$750,000
to
1,000,000
Over
$50,000,000
196
1,359
1,030
329
1,157
1,157
4,383
4,053
330
14,339
14,339
1,022
1,022
4.575
4.575
8,452
7,821
631
10,857
10,857
50,380
49,651
729
18,131
18,131
55,606
55,606
72,962
72,962
261
1,344
1,344
13,588
13,588
10,347
10,347
236,250
234,664
1,586
54,078
54,078
4,006
3,673
333
1,119
851
268
3,294
3 ,033
261
10,950
10,298
652
19,539
18,163
1,376
25,366
24,067
1,299
14,336
13,908
428
71,685
68,402
3 ,2 8 3
34,931
34,116
815
3,561
3,561
2,564
2 ,5 6 4
13.541
13.541
..........65,076
65,076
..........54,320
54,320
147,105
147,105
200,142’
200,142
..........23,331
23,331
..........10,296
9,5 1 6
780
..........38,504
38,504
..........58,42*2’
58,422
241
181
60
2,863
2,751
112
22
22
3,580
3,580
9,216
9,2 1 6
5,551
5,551
8 ,466
8,4 6 6
19.686
19.686
9,411
9,411
15,087
15,087
169,628
169,628
17,206
16,519
687
64,945
63,200
1,745
481
481
103,194
100,767
2,427
1,198
1,198
98,417
95,144
■ 3,273
351,885
349,816
2 ,069
6,105
1,330
4,775
578,348
578,348
959,151
921,490
37,661
142,856
88,441
54,415
1.979.102
1.979.102
111
111
151
151
88
88
261
7.127
7.127
32,183
30,938
1,245
3,428
2,926
502
..........22,366
18,354
4,012
802,663
774,236
28,427
17,831
17,831
251,223
251,223
1,153,038
1,053,865
99,173
87,911
87,911
11,111,068
1 0,552,862
558,206
127,164
127,164
6,518
6,518
357,739
357,739
9 4 6,559’
946,559
140,197' ..........51,882*
140,197
51,882
115, *204
115,204
CORPORATION
N orth Dakota.
I n s u r e d bcinks
N o n i n s u r e d b a n k s ....................
O h io ..........................................................
I n s u r e d b a n k s .............................
N o n i n s u r e d b a n k s ....................
O k lah om a...............................................
In su red banks . . .
............
N o n i n s u r e d b a n k s ....................
13,164,570
12 ,486,703
677,867
375,878
3 72,558
3,3 2 0
73,126
71,713
1,413
1,863,284
1 ,8 58,357
4,9 2 7
386,223
3 8 3,068
3,155
$250,000
to
500,000
INSURANCE
N ew M exico
/n su rc c f bcinks
$100,000
to
250,000
DEPOSIT
N ew Jersey............................................
In su red banAs
24,900
24,704
196
78,791
72,560
6,231
1,549,271
1 ,518,540
30,731
43,697
43,195
502
$100,000
and
under
FEDERAL
banks
South Carolina................
I n s u r e d b a n k s ..........
N o n in su r e d b a n k s .
South D a k o ta ..................
In s u r e d b a n k s ..........
N o n in su r e d b a n k s .
A lask a....................................................
I n s u r e d b a n k s .............................
N o n in s u r e d b a n k s ....................
H aw aii....................................................
In s u r e d b a n k s .............................
N o n in su r e d b a n k s ....................
Puerto R ic o .........................................
In s u r e d b a n k s .............................
N o n in s u r e d b a n k s ....................
Virgin Islands of the United States
I n s u r e d b a n k s .............................
N o n in s u r e d b a n k s ...................
6,641
4.460
15,924
28,123
53.211
9,199
373
4,179
2,462
4.460
14,847
1,077
26,027
2,096
53.211
84,044
3.341
15.639
9.726
7,348
1.732
16.558
14.966
3.341
14.734
83,492
552
15.639
9.726
6,796
552
1.732
14.734
16.558
14.966
425,378
4,370
17,412
21.743
16.831
13,847
35.206
16.993
247.638
423,064
2,314
3,940
430
17,295
117
21.743
16.831
12,080
1,767
35.206
16.993
247.638
1,144,235
9,086
64,329
33,902
80,255
1,123,703
20,532
77,603
123,337
5 51,362’
159.286
7,258
1,828
45,075
40,215
4,860
73,973
3,630
60,319
4,010
32,183
1,719
78,901
1,354
120,206
3,131
551,362
159.286
138.909
91
2.435
6.539
3.055
6.320
6.813
4 .288
109.368
138.909
91
109.368
51.338
51.338
2.435
6.539
3.055
6.320
6.813
4.288
100.173
477
6.851
4.790
8.865
33.012
34.432
11.746
100.173
477
6.851
4.790
8.865
33.012
34.432
11.746
25,131
36,848
25.601
24,794
337
63.877
73.627
195.330
36,307
541
25.601
67.601
63.877
73.627
195.330
67.601
499,945
1,264
498,976
969
1,173
91
10,666
10,666
376,170
1,300
7,310
16,339
17,837
6.777
30,429
30.457
89.994
370,408
5,762
1,198
6,932
378
15,944
395
17,105
732
6.777
26,274
4,155
30.457
89.994
245,623
184
5,391
16,904
15,760
15.562
47.842
65,6 9 1 ’
78.289
239,904
5,719
94
90
4,870
521
15,254
1,650
14,590
1,170
15.562
47.842
63,403
2,288
78.289
102
175.727
175.727
739,383
1,802
28,481
58,895
49,773
51,892
96,720
85,876
188.135
177.809
731,156
8,227
1,607
195
28,204
277
56,008
2,887
49,263
510
51,072
820
95,712
1,008
83,346
2,530
188.135
177.809
57.559
393
1,218
6.247
6.267
2.401
10.859
18,028
12.146
57.559
393
1,218
6.247
6.267
2.401
10.859
18,028
12.146
117,487
417
1.834
1,308
2.743
9,351
16,618
85,204
3,345
114,142
' 417
1.834
'i,308
883
1,860
2,462
6,889
i 6,618
'85,204
12,988
417
881
717
2.743
5,764
2,466
2,279
10,709
* 417
881
717
883
1,860
1,396
4,368
2,466
94,373
364
591
2 ,497
5,705
85,204
1,066
93,307
364
591
1,066
1,431
5,705
'85,204
10,126
589
1,090
8,447
10,126
589
1,090
8,447
(2)
1 Deposits of noninsured banks as of December 31, 1935.
9,572
4,915
1,126
BANKS
P o sse ssio n s— t o t a l
In s u r e d b a n k s ..........
N o n in su r e d b a n k s .
6,041
IN
W ashington.......................
I n s u r e d b a n k s ..........
N o n in s u r e d b a n k s .
W est Virginia...................
In s u r e d b a n k s ..........
N o n in su r e d b a n k s .
W isconsin..........................
I n s u r e d b a n k s ..........
N o n in s u r e d b a n k s .
W y o m in g ...........................
I n s u r e d b a n k s ..........
N o n in s u r e d b a n k s .
1,866
1,297
569
DEPOSITS
Tennessee...........................
In s u r e d b a n k s ..........
N o n in s u r e d b a n k s .
T e x a s...................................
In s u r e d b a n k s ..........
N o n in s u r e d b a n k s .
U ta h .....................................
In s u r e d b a n k s ..........
N o n in su r e d b a n k s .
Verm ont.............................
I n s u r e d b a n k s ..........
N o n in s u r e d b a n k s .
Virginia...............................
In s u r e d b a n k s ..........
N o n in s u r e d b a n k s .
125,838
118,135
7,703
cn
2 Deposits not available.
<X>
160
T a b le 118.
DEPOSITS IN OPERATING COMMERCIAL BANKS, D A ILY AVERAGE OCTOBER 1 TO DECEMBER 3 1 , 1 9 3 5 1
UNIT BANKS AND BANKS OPERATING BRANCHES GROUPED BY AMOUNT OF DEPOSITS IN EACH STATE AND POSSESSION
Banks with deposits of—
All
banks
$ 100,000
and
under
to
250,000
$250,000
to
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
50,000,000
Over
$50,000,000
(Deposits in thousands of dollars)
S t a t e s — t o t a l ......................................
U nit b a n k s ......................................
B a n ks op e ra tin g b ra n ch e s . . .
617,442
1,231,638
1,078,853
904,789
2 ,617,212
3,807 ,1 8 7
9,741 ,6 4 7
24,289,870
21,525,666
22,857,584
94,505
107
604,938
12,504
1,193,333
38,305
1,030,478
48,375
863,046
41,743
2,488,187
129,025
3,426,783
380,404
5,923,300
3,818,347
5,901,096
18,388,774
44,265,763
94,600
617,025
1,229,804
1,077,545
902,046
2,607,861
3 ,7 9 0 ,5 6 9
9 ,656 ,4 4 3
24,289,870
21,506,724
22,759,039
94,493
107
604,521
12,504
1,191,795
38,009
1,029,170
48,375
860,303
41,743
2,481,370
126,491
3,420,676
369,893
5,923,300
3,733,143
5,901,096
18,388,774
241,562
1.491
11.851
20,496
12.718
8.785
22.905
36,892
75.758
188,523
53,039
1.491
11.851
20,192
304
12.718
8.785
22.905
34,823
2,069
75.758
20,282
3 8,256
10,647
9,635
6,689
31,567
62,672
21,470
41,202
159
1.203
2,772
159
1.203
2,772
50,666
50,666
12.577
80.330
80.330
164,944
3.341
10,614
16,765
13,972
5,449
21.896
161,551
3,393
3.341
10,416
198
16,342
423
12,173
1,799
4,476
973
21.896
12.577
3,542,533
199
4.339
24,096
24,761
18,039
45,025
103,377
296,195
3,026,502
571,034
2,971,499
199
4.339
23,375
721
22,858
1,903
15,288
2,751
37,525
7,500
86,723
16,654
134,726
161,469
246,001
2,780,501
7.239
24.902
25.391
151.144
56.067
7.239
24.902
25.391
151.144
56.067
296.371
296.371
1.196
5.804
16,611
8.017
1.196
5.804
16,611
8.017
95
1.980
3.329
6.791
8.123
37.207
9 3.033
297,510
63,702
367,225
144,545
95
1.980
3.329
6.791
8.123
37.207
93.033
216,667
80,843
63,702
121,207
426
834
3.900
2.890
2.443
11.169
11,173
35,730
85,477
426
834
3.900
2.890
2.443
11.169
6,480
4,693
7,588
80,784
335
918
2,674
13,894
194,800
88,411
335
918
2,674
7,465
6,429
66,365
128,435
.........88,411
511,770
301,032
77,757
223,275
88,372
248.119
1,221
5.817
13.000
8.383
10.687
30.911
39.300
138.800
248.119
1,221
5.817
13.000
8.383
10.687
30.911
39.300
138.800
387,498
4.009
15,472
22,575
13.862
7.687
34,805
30,672
72,292
186,124
151,028
236,470
4.009
15,234
238
21,791
784
13.862
7.687
33,490
1,315
27,640
3,032
27,315
44,977
186,124
CORPORATION
Connecticut.......................................
U nit b a n k s ..................................
B a n ks op e ra tin g b r a n c h e s .
Delaw are............................................
U nit b a n k s . ...............................
B a n k s op e ra tin g b r a n c h e s .
District of C olum bia.....................
U nit b a n k s .................................
B a n k s o p e ra tin g b r a n c h e s .
Florida.................................................
U nit b a n k s ..................................
B a n k s op e ra tin g b r a n c h e s .
Georgia................................................
U nit b a n k s ..................................
B a n k s op e ra tin g b r a n c h e s .
94,612
INSURANCE
A lab am a.............................................
U nit b a n k s ..................................
B a n k s op e ra tin g b ra n ch es .
Arizona................................................
U nit b a n k s .................................
B a n k s op e ra tin g b ra n ch es .
Arkansas.............................................
U nit b a n k s ..................................
B a n ks op e ra tin g b ra n ch es .
California...........................................
Unit b a n k s ..................................
B a n ks op e ra tin g bra n ch e s .
Colorado.............................................
U nit b a n k s ..................................
B a n ks op e ra tin g b r a n c h e s .
44,383,250
DEPOSIT
U n ite d S ta te s a n d P o s s e s s io n s t o t a l ............................................
U nit b a n k s ......................................
B a n k s o p era tin g b ra n c h e s . . .
FEDERAL
$ 100,000
Id a h o .....................................................
U n it b a n k s ..................................
B a n k s o p e r a tin g b r a n c h e s .
Illinois....................................................
U n it b a n k s ...................................
B a n k s o p e r a tin g b r a n c h e s .
In d ian a .................................................
U n it b a n k s ...................................
B a n k s o p e r a tin g b r a n c h e s .
I o w a .......................................................
U n it b a n k s ...................................
B a n k s o p e r a tin g b r a n c h e s .
K a n sa s..................................................
U n it b a n k s ...................................
B a n k s o p e r a tin g b r a n c h e s .
5.428
6,321
831
9.406
19,478
33,067
5.428
5,689
632
831
9.406
13,971
5,507
33,067
3 .469.248
3.279
3.469.248
3.279
39.822
75.094
68.223
42.442
142.854
247.022
434.033
2.416.479
39.822
75.094
68.223
42.442
142.854
247.022
434.033
2.416.479
87.887
87.887
664,311
2.333
26,700
44,766
42,320
28.584
105,137
100,591
225,993
508,571
155,740
2.333
25,805
895
42,901
1,865
38,823
3,497
28.584
96,474
8,663
91,189
9,402
94,575
131,418
532,605
1.865
35,819
72,675
52,631
42,855
93,263
69,141
164.356
462,189
70,416
1.865
31,478
4,341
61,444
11,231
47,160
5,471
33,471
9,384
70,015
23,248
52,400
16,741
164.356
380.716
9.098
44.180
59.109
32.566
33.407
55.498
93.291
380.716
9.098
44.180
59.109
32.566
33.407
55.498
53.567
53.567
93.291
390,174
5.078
19,978
32,837
36.122
21,273
68,407
49.808
104,212
52,459
258,145
132,029
5.078
19,412
566
6,210
6,015
195
31,629
1,208
36.122
20,357
916
67,289
1,118
49.808
28,450
75,762
’ '52,459
359,517
543
127,789
231,728
543
15,021
13,992
12,653
18,312
21,518
106.598
10,914
3,078
164.670
12,852
2,169
10,289
2,364
11,357
6,955
13,145
8,373
62,674
101,996
106.598
186,001
1,098
2.755
5,008
2.485
26,705
53,033
94,917
113,646
72,355
857
241
2.755
3,812
1,196
2.485
23,843
2,862
26,466
26,567
53,428
41,489
521,968
569
6,515
13,625
16,652
13,931
41,470
44,338
224,257
214,279
307,689
569
6,101
414
13,150
475
14,808
1,844
12,300
1,631
33,360
8,110
34,405
9,933
99,586
124.671
160,611
1.777.720
675
4.920
9.380
20.333
57,417
191,425
522,931
970,574
560,574
1,217,146
675
4.920
9.380
20.333
53,213
4,204
149,251
42,174
233,703
289,228
89,034
881,540
160,611
1,151,974
1.884
20,849
45,506
34,235
21,622
88,548
99,561
290,084
549,685
364,746
787,228
1.884
20,636
213
44,917
589
33,055
1,180
20,771
851
82,650
5,898
78,965
20,596
81,868
208,216
'549,685
49.117
51.743
71.122
102,066
372,749
49.117
51.743
71.122
102,066
130,199
242,550
31,822
804,114
5.758
34.718
72.377
44.464
561,564
242,550
5.758
34.718
72.377
44.464
158,252
1.586
8,403
18,936
14.680
15,725
24,783
1.586
7,844
559
15,824
3,112
42,317
137,463
20,789
14.680
14,780
945
17,136
7,647
39,444
2,873
26,169
5,653
1.286.720
8.494
38.348
48.365
33.384
27.635
60.993
89.204
262.532
717.765
1.286.720
8.494
38.348
48.365
33.384
27.635
60.993
89.204
262.532
717.765
130.930
588
5.212
13.515
7.904
9.179
14.802
33.151
46.579
130.930
588
5.212
13.515
7.904
9.179
14.802
33.151
46.579
315,523
4.079
29.460
40.816
22.709
12.043
27.546
22,931
155,939
302,445
13,078
4.079
29.460
40.816
22.709
12.043
27.546
20,387
2,544
145,405
10,534
BANKS
N eb ra sk a ..............................................
U n it b a n k s ..................................
B a n k s o p e r a tin g b r a n c h e s .
2.339
2.339
IN
M ich igan ..............................................
U n it b a n k s ..................................
B a n k s o p e r a tin g b r a n c h e s .
M in n eso ta...........................................
U n it b a n k s ...................................
B a n k s o p e r a tin g b r a n c h e s .
M ississippi...........................................
U n it b a n k s ..................................
B a n k s o p e r a tin g b r a n c h e s .
M issou ri...............................................
U n it b a n k s ..................................
B a n k s o p e r a tin g b r a n c h e s .
M o n ta n a ...............................................
U n it b a n k s ...................................
B a n k s o p e r a tin g b r a n c h e s .
206
206
DEPOSITS
K e n tu c k y .............................................
U n it b a n k s ...................................
B a n k s o p e r a tin g b r a n c h e s .
Louisiana.............................................
U nit b a n k s ...................................
B a n k s o p e r a tin g b r a n c h e s .
M a in e ....................................................
U n it b a n k s ..................................
B a n k s o p e r a tin g b r a n c h e s .
M a ry la n d .............................................
U n it b a n k s ..................................
B a n k s o p e r a tin g b r a n c h e s .
M assach usetts...................................
U n it b a n k s ..................................
B a n k s o p e r a tin g b r a n c h e s .
77,076
37,870
39,206
T ab le 118.
D e p o s it s in O p e r a t in g C o m m e rcia l B a n k s, D a i l y A v e r a g e O c t o b e r 1 t o D e c e m b e r 31, 19351— Continued
U N IT B A N K S A N D B A N K S O PERATING BRANCHES GROUPED B Y AM O U NT OF DEPOSITS IN EACH STATE AND POSSESSION
Banks with deposits of—
$750,000
$1,000,000 I $2,000,000
$ 100,000
$100,000
and
under
to
to
to
to
to
250,000
500,000
750,000
1,000,000
2,000,000
$250,000
$500,000
to
| 5,000,000
$5,000,000
to
50,000,000
Over
$50,000,000
(Deposits in thousands of dollars)
13,164,570
2,583,915
10,580,655
375,878
204,315
171,563
73.126
73.126
O regon...................................................
U n it b a n k s ..................................
B a n k s o p e r a tin g b r a n c h e s .
P ennsylvania......................................
U n it b a n k s ...................................
B a n k s o p e r a tin g b r a n c h e s .
Rhode Isla n d .....................................
U n it b a n k s ...................................
B a n k s o p e r a tin g b r a n c h e s .
240,866
70,126
170,740
4,155,111
2,469,478
1,685,633
288,232
82,028
206,204
' i ,863 ,284
842,480
1,020,804
386.223
386.223
2.569
2.569
5.205
5.205
14,475
17.111
17.111
14,475
22.586
22.586
160,206
155,114
5,092
6,751
5,490
1,261
254,246
209,465
44,781
6.449
6.449
802,663
295,604
507,059
17.831
17.831
72,962
72,067
895
10,347
8,775
1,572
2.564
2.564
236,250
230,083
6,167
54,078
47,518
6,560
13.541
13.541
476,553
440,406
36,147
52,458
37,985
14,473
17.650
17.650
1,153,038
530,304
622,734
87,911
22,780
65,131
6.518
6.518
34.931
34.931
65,076
63,171
1,905
23.331
23.331
'54,320
52,637
1,683
10.296
10.296
147,105
145,225
1,880
38.504
38.504
3.580
3.580
9.216
9.216
5.551
5.551
8.466
8.466
19,686
18,574
9.411
9.411
15.087
15.087
17,206
17,064
142
64,945
64,640
305
481
481
103,194
102,585
609
1.198
1.198
98,417
97,664
753
351,885
349,722
2,163
6,105
2,395
3,710
'578,348
562,098
16,250
22,366
15r,499
6,867
959,151
701,557
257,594
142,856
62,433
80,423
111
111
1.359
1.359
4.383
4.383
151
151
1.157
1.157
14.339
14.339
7,127
6,565
562
32.183
32.183
1,022
4,575
4,193
382
3,428
2,330
1,098
3.553
3.553
261
261
8.452
8.452
1,344
1,237
107
4.006
4.006
10,857
10,244
613
10.950
10.950
50,380
49,880
500
18,131
15,548
2,583
14.336
14.336
55,606
55,040
566
13,588
8,969
4,619
3.561
3.561
1.119
1.119
19.539
19.539
71,685
70,483
3.294
3.294
25.366
25.366
1,202
241
241
2.863
2.863
1,022
22
22
1,420
7.833
7.833
33.103
33.103
1,420
18,281
18,281
1,112
’200, 142’
183,234
16,908
58.422
58.422
'357,739
180.542
177.197
140.197
140.197
251,223
25 i ,223
11,111,068
1,197,422
9,913,646
127,164
51,259
75,905
946,559
126,530
820,029
51.882
51.882
169,628
169,628
1,979,102
571,285
1,407,817
115,204
115,204
CORPORATION
N ew Y o r k ............................................
U n it b a n k s ..................................
B a n k s o p e r a tin g b r a n c h e s .
N orth C arolin a.................................
U n it b a n k s . ................................
B a n k s o p e r a tin g b r a n c h e s .
N orth D a k o t a ...................................
U n it b a n k s ...................................
B a n k s o p e r a tin g b r a n c h e s .
O h io ........................................................
U n it b a n k s ...................................
B a n k s o p e r a tin g b r a n c h e s .
O klahom a............................................
U n it b a n k s ...................................
B a n k s o p e r a tin g b r a n c h e s .
1.035
1.035
196
196
INSURANCE
24,900
9,005
15,895
78,791
78,229
562
1,549,271
741,116
808,155
43,697
40,956
2,741
DEPOSIT
N e v a d a ..................................................
U n it b a n k s ...................................
B a n k s o p e r a tin g b r a n c h e s .
N ew H am psh ire...............................
U n it b a n k s ...................................
B a n k s o p e r a tin g b r a n c h e s .
N ew Jersey.........................................
U n it b a n k s ...................................
B a n k s o p e r a tin g b r a n c h e s .
N ew M e x ic o .......................................
U n it b a n k s ...................................
B a n k s o p e r a tin g b r a n c h e s .
FEDERAL
All
banks
B a n k s o p e r a tin g b r a n c h e s . .
B a n k s o p e r a t in g b r a n c h e s ..
T ennessee...............................................
U n it b a n k s .....................................
B a n k s o p e r a tin g b r a n c h e s .
U n it b a n k s .....................................
B a n k s o p e r a tin g b r a n c h e s . .
U ta h ..........................................................
U n it b a n k s .....................................
B a n k s o p e r a tin g b r a n c h e s .
V e r m o n t.............................................
U n it b a n k s .....................................
B a n k s o p e r a tin g b r a n c h e s . .
Virginia.................................................
6.041
6.041
9.572
9.572
6.641
6.641
3.341
3.341
15,639
15,499
140
9.726
9.726
7.348
7.348
425,378
255,660
169,718
1.144.235
1.144.235
4.370
4.370
138,909
87,517
51,392
100,173
82,000
18,173
499,945
287,232
212,713
117,487
18,942
98,545
A la sk a ......................................................
U n it b a n k s .....................................
B a n k s o p e r a tin g b r a n c h e s . .
H a w a ii.....................................................
U n it b a n k s .....................................
B a n k s o p e r a tin g b r a n c h e s . .
Puerto R ic o ...........................................
U n it b a n k s ...................................
B a n k s o p e r a tin g b r a n c h e s . .
Virgin Islands o f the United States
U n it b a n k s .....................................
B a n k s o p e r a tin g b r a n c h e s . .
12,988
11,520
1,468
94,373
6,039
88,334
10,126
1,383
8,743
53,211
6,522
46,689
14,966
16.993
16.993
247,638
139,086
108,552
551.362
551.362
51,338
159.286
159.286
67,601
14,966
51,338
9.086
9.086
17,412
16,678
734
45.075
45.075
21,743
21,437
306
77.603
77.603
16,831
14,431
2,400
64.329
64.329
13,847
12,979
868
33.902
33.902
35,206
29,686
5,520
80.255
80.255
123.337
123.337
91
91
2.435
2.435
6.539
6.539
3.055
3.055
6.813
6.813
4.288
4.288
477
477
4.790
4.790
33.012
33.012
10,666
10,451
215
6,851
6,463
388
25,131
21,715
3,416
36,848
31,633
5,215
6,320
5,366
954
8,865
7,169
1,696
25,601
20,521
5,0 8 0
34,432
2 4,427
10,005
73,627
61,467
12,160
109,368
58,930
50,438
11,746
5,662
6,084
195,330
80,362
114,968
7.310
7 .310
16.339
16.339
17.837
17.837
3 0,457
24,753
5,704
65.691
65.691
89,994
39,069
50,925
78.289
78.289
175,727
85,876
78,529
7,347
18,028
18,028
188,135
122,336
65,799
12.146
12.146
177,809
9,351
6,817
2,5 3 4
16,618
6,107
10,511
85,204
5,764
4,296
1,468
2,497
1,431
1,066
1.090
1.090
2.466
2.466
1.264
1.264
1.300
1.300
184
184
5.391
5.391
16.904
16.904
1,802
1,802
393
393
28,481
25,681
2 ,800
1,218
1,218
58,895
52,849
6,046
6.247
6.247
12
12
417
417
417
417
12
12
6,777
6,011
766
15.562
15.562
15,760
15,086
674
49,773
39,646
10,127
6.267
6.267
51,892
45,141
6,751
2.401
2.401
1,834
1,538
296
1.308
1.308
2.743
2 .743
881
881
717
717
364
364
591
591
2.743
2.743
589
293
296
2
..........63,877
5 9,819
4 ,058
3 0.429
3 0 .429
47,842
46,748
1,094
96,720
89,539
7,181
10.859
10.859
5,705
3,641
2,064
8,447
67,601
175,727
177,809
85,204
85,204
85,204
8,447
(2)
1 Deposits of noninsured banks as of December 31, 1935.
28,123
23,245
4,878
16,558
9 ,407
7,151
Deposits not available.
163
P o s s e s s io n s — t o t a l .............................
U n it b a n k s ........................................
B a n k s o p e r a tin g b r a n c h e s . . . .
15,924
14,171
1,753
14.734
14.734
BANKS
376,170
143,048
233,122
245,623
243,855
1,768
739,383
455,523
283,860
57.559
57.559
4,460
3,550
910
1.732
1.732
IN
W ash in gton ......................................
U n it b a n k s .....................................
B a n k s o p e r a tin g b r a n c h e s . .
W est Virginia.......................................
U nit b a n k s .....................................
B a n k s o p e r a tin g b r a n c h e s . .
W isconsin...............................................
U n it b a n k s .....................................
B a n k s o p e r a tin g b r a n c h e s . .
W y o m in g ................................................
U n it b a n k s .....................................
B a n k s o p e r a tin g b r a n c h e s
1,866
1,866
DEPOSITS
B a n k s o p e r a tin g b r a n c h e s . .
125,838
71,608
54,230
84,044
61,787
22,257
T a b le 119.
DEPOSITS IN OPERATING M UTUAL SAVINGS BAN KS, DECEMBER 3 1 , 1 9 3 5
INSURED AND NONINSURED BANKS GROUPED BY AMOUNT OF DEPOSITS IN EACH STATE
Banks with deposits of—
$100,000
to
250,000
$250,000
to
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
5 0,000,000
Over
$50,000 ,000
(Deposits in thousands of dollars)
9,876,976
977,835
8,899,141
201
780
104
97
780
2,711
1,647
1,064
7,397
1,324
6,073
16,947
3,424
13,523
101,157
14,128
87,029
469,085
34,350
434,735
4,365 ,0 0 1
4 ,9 1 3 ,6 9 7
198,228
4,166,773
724,630
4,189,067
S ta te
438
1,277
18,780
75.232
519,606
68.333
683,666
’ 438
7 ,2 7 7 '
750
75.232
519,606
68.333
31,067
31,067
31,067
31,067
19,965
13,483
6,482
121,659
14,352
107,307
240
207,747
248
206,537
248
1,210
2,091,988
2,
091,988
97
462
462
13,696
3.392
2.877
3.392
2.877
7,214
6,482
4 0,918
63,860
679
4,282
11,680
679
2,623
1,659
11,680
4,791
36,127
6,938
56,922
748
840
1,610
2,467
112,182
89,190
840
1,610
2,467
112,182
‘ '89,190'
748
168
1,197
6.009
27.624
193,682
1,326,188
537,023
' 168
i ,197
6.009
27.624
'i93,682
'1 ,3 2 6 ,1 8 8
537,023
64.313
64.313
64.313
64.313
185,429
324
2,358
4.199
14,432
53,069
111,047
185,429
324
'2,358
4.199
14,432
53,069
111,047
2,655
8,226
222,435
1,084
1,571
128,097
94,338
88,735
1 ,686,074
3 ,4 2 4 ,6 1 1
1,686,074
499,051
2,925 ,5 60
322,969
918
,188,945
816
11,332
4,740
3,486
66,112
499,051
,689,894
’ 816
11,332
66,112
134,839
188,130
918
88,735
CORPORATION
M assach u setts..................
I n s u r e d b a n k s ..........
N o n in su r e d b a n k s .
M in n eso ta ..........................
I n s u r e d b a n k s ..........
N o n in su r e d b a n k s.
N ew H am p sh ire..............
I n s u r e d b a n k s ..........
N o n in su red b a n k s .
N ew Jersey........................
I n s u r e d b a n k s ..........
N o n in su r e d b a n k s .
N ew Y o r k ...........................
I n s u r e d b a n k s ..........
N o n in su red ba n k s .
683,666
INSURANCE
C on n ecticu t.......................
I n s u r e d b a n k s ..........
N o n in su r e d b a n k s .
D elaw are.............................
I n s u r e d b a n k s ..........
N o n in su r e d b a n k s.
In d ia n a ................................
I n s u r e d b a n k s ..........
N o n in su r e d b a n k s.
M a in e ...................................
I n s u r e d b a n k s ..........
N o n in su r e d b a n k s .
M a r y la n d ............................
I n s u r e d b a n k s ..........
N o n in su r e d b a n k s .
DEPOSIT
U n it e d S t a t e s — t o t a l .
I n s u r e d b a n k s ..........
N o n in su r e d b a n k s . .
FEDERAL
All
banks
$100,000
and
under
O h io .......................................
I n s u r e d b a n k s ..........
N o n in su r e d b a n k s .
Oregon ..................................
I n s u r e d b a n k s ..........
N o n in su r e d b a n k s .
P en n sy lva n ia....................
I n s u r e d b a n k s ..........
N o n in su r e d b a n k s .
R hode I s la n d ....................
I n s u r e d b a n k s ..........
N o n in su r e d b a n k s .
V e rm o n t..............................
I n s u r e d b a n k s ..........
N o n in su red b a n k s.
1.964
1.964
542,401
5,375
537,026
171,053
124
171,053
68.493
68.493
' 124
55.501
55.501
302
267
267
4.929
4.929
562
562
416,160
4 / 5 , >50
4,560
102,001
64,066
4,560
14.015
14.015
102,001
64,066
2.191
2.191
576
576
104
104
120,866
' 120,866
3.411
3.411
1.435
1.435
2.325
2.325
49.282
49.282
52.734
52.734
IN
BANKS
108.532
108.532
801
801
801
801
4,426
3,864
562
6.697
6.697
DEPOSITS
W a sh in g to n ........................
I n s u r e d b a n k s ..........
N o n in su red b a n k s .
W isco n sin ............................
I n s u r e d b a n k s ..........
N o n in su r e d b a n k s .
1.324
1.324
116.553
116.553
OI
Table 120.
D E P O S I T S IN O P E R A T IN G M U T U A L S A V IN G S B A N K S , D E C E M B E R
31, 1935
05
05
U N IT B A N K S A N D B A N K S O P E R A T IN G B R A N C H E S G R O U P E D B Y A M O U N T OF D E P O S IT S IN E A C H ST A T E
Banks with deposits o f —
$100,000
and
under
$100,000
to
250,000
$250,000
to
500,000
$500,000
to
750,000
$750,000
to
1,000,000
1 $1,000,000
to
1 2,000,000
$2,000,000 1 $5,000,000
to
to
5,000,000 1 50,000,000
Over
$50,000,000
(De]posits in thouisands of doll;ars)
9 ,8 7 6 ,9 7 6
5 ,3 1 5 ,6 1 0
4 ,5 6 1 ,3 6 6
201
201
780
780
7.3 9 7
7.397
438
438
1.277
1.277
1 6.947
16.947
101,157
94,283
6 ,8 7 4
4 69,085
443,614
25,471
4 ,3 6 5 ,0 0 1
3 ,2 1 2 ,3 8 9
1,152,612
4 ,9 1 3 ,6 9 7
1,537,288
3 ,376,409
18.780
18.780
75.232
75.232
68.333
68.333
3.392
3.392
2.877
2 .8 7 7
519,606
486,474
33,132
31,067
7,766
23,301
13.696
13.696
11,680
9,995
1,682
1,610
40 .9 1 8
40.918
S tate
240
240
121,659
9 4,910
2 6,749
207,747
188,002
19,745
2 ,0 9 1 ,9 8 8
1,5 9 4 ,1 1 2
4 9 7 ,8 7 6
64.313
64.313
248
248
462
462
679
679
4.282
4.282
748
748
840
840
2.467
2.4 6 7
1,610
97
97
168
168
185.429
185.429
324
324
3 22,969
191,047
131,922
5,1 8 8 ,9 4 5
1,9 2 2 ,7 3 4
3,26 6 ,2 1 1
918
918
63,860
38,793
25,067
112,182
9 4,047
18,135
1.197
1.197
6.009
6.009
27,624
24,042
3,582
193,682
173,188
20,494
1,326,188
1,08 4 ,8 8 2
241,306
2 .358
2.358
4.199
4.199
14.432
14.432
53.069
53.069
111.047
1 1 1 .0 4 7
2.655
2.655
8,226
8,2 2 6
222,435
179,248
4 3 ,187
1 ,686,074
999,794
686,280
816
816
11.332
11.332
66,112
6 1 ,135
4,9 7 7
89.190
89.190
537,023
304,529
232,494
64.313
64.313
88,735
88,735
3,424,611
849,657
2,574,954
CORPORATION
M assach usetts.....................................
U n it b a n k s .....................................
B a n k s o p e r a tin g b r a n c h e s . .
M in n eso ta ..............................................
U n it b a n k s .....................................
B a n k s o p e r a tin g b r a n c h e s
N ew H am psh ire..................................
U n it b a n k s
...............
B a n k s o p e r a tin g b r a n c h e s
N ew Jersey............................................
U n it b a n k s .....................................
B a n k s o p e r a tin g b r a n c h e s ..
N ew Y o r k ...............................................
U n it b a n k s .....................................
B a n k s o p e r a tin g b r a n c h e s . .
683,666
650,534
33,132
3 1,067
7,766
2 3,301
19.965
19.965
INSURANCE
C on n ecticu t..........................................
U n it b a n k s ......................................
B a n k s o p e r a tin g b r a n c h e s . .
D elaw are................................................
U n it b a n k s .....................................
B a n k s o p e r a t in g b r a n c h e s . .
In d ian a....................................................
U n it b a n k s . . .
..........
....
B a n k s o p e r a tin g b r a n c h e s
M a in e .......................................................
U n it b a n k s ........................... ..
B a n k s o p e r a tin g b r a n c h e s . .
M a ry la n d ...............................................
U nit b a n k s .....................................
B a n k s o p e r a tin g b ra n c h es . .
DEPOSIT
2 .7 1 1
2.711
FEDERAL
All
banks
O h io ...........................................
U n it b a n k s ......................
B a n k s o p e r a tin g b r a n c h e s .
Oregon ....................................
U ni t b a n k s ....................
B a n k s o p e r a tin g b r a n c h e s .
P ennsylvania.......................
U n it b a n k s ................ .
B a n k s o p e r a tin g b r a n c h e s .
Rhode Isla n d .......................
U n it b a n k s ....................
B a n k s o p e ra tin g b r a n c h e s .
V e rm o n t...............................................
U n it b a n k s .....................
B a n k s o p era tin g b r a n c h e s .
801
801
108.532
108.532
120,866
49,029
71,837
102,001
102,001
416,160
801
801
542,401
54,404
487,997
171,053
106,987
64,066
68,493
58,126
10,367
1.964
1.964
124
124
302
302
3.411
3.411
4.560
4.560
4i6 J 60
64,066
.........64,066
4.929
4.929
267
267
576
576
55.501
55.501
4.426
4.426
6.697
6.697
104
104
562
562
14.015
14.015
2.191
2.191
1.435
1.435
2.325
2.325
49,282
38,915
10,367
52.734
52.734
IN
BANKS
1.324
1.324
DEPOSITS
W ash in gton ............................
U n it b a n k s .......................
B a n k s o p e r a tin g b r a n c h e s .
W iscon sin ..............................
U n it b a n k s .......................
B a n k s o p e r a tin g b r a n c h e s .
116.553
116.553
Oi
-q
Table 121.
A N A L Y S IS OF C H A N G E S IN D E P O S IT S OF B A N K S IN TH E C O N T IN E N T A L U N IT E D ST AT ES D U R IN G
05
GO
1935i
INSUR ED AND N ON INSUR ED B AN K S GROUPED B Y CLASS OF B A N K
(Am ounts in thousands of dollars)
All banks
Commercial banks
Insured
Total
Insured
M em bers F. R .
System
Total
Total
N ot
M em bers
F. R .
System
|
N ational
State
N on
insured
Total
Insured
N on
insured
N e t in cre a se d u rin g 1935.....................................
5,057,022
548,527
5,470,144
5,123,993
3,165,251
1,440,527
518,215
346,151
135,405
66,971
202,376
5,581,223
5,216,376
364,847 5,445,415
5,195,036
3,081,991
1,438,381
674,664
250,379
135,808
21,340
114,468
24,326
159,354
183,680
24,729
71,043
83,260
2,146
156,449
95,772
403
88,311
87,908
B anks
b e g in n in g
o p e r a tio n s — to ta l
^ Reorganization o f or successions to re
stricted b a n k s..................................................
Reopenings o f closed banks (in receiver
ship or liquidation).......................................
Organizations o f new banks without
precedessors......................................................
44,425
40,045
4,380
43,503
39,123
6,031
1,093
31,999
4,380
922
922
24,671
24,162
509
23,749
23,240
1,434
1,093
20,713
509
922
922
7,071
6,692
379
7,071
6,692
945
5,747
379
12,683
9,191
3,492
12,683
9,191
3,652
5,539
3,492
B a n k s ce a sin g o p e r a tio n s — t o t a l .............
Suspensions............................................................
Other liquidations...............................................
20,099
9,852
10,247
15,883
9,005
6,878
4,216
847
3,369
18,774
9,852
8,922
15,883
9,005
6,878
8,261
5,263
2,998
7,468
3,742
3,726
2,891
847
2,044
154
i54
1,325
1,325
1,325
1,325
CORPORATION
5,605,549
N e t Increase n o t d u e to c h a n g e s in
b a n k in g s t r u c t u r e .........................................
N e t in cre a se d u e to c h a n g e s in b a n k in g
s t r u c t u r e 2............................................................
INSURANCE
D e p o s its , D e c e m b e r 31, 1 9 3 5 ............................ 55,292,658 45,101,220 10,191,438 45,415,682 44,123,385 24,802,401 13,651,782 5,669,202 1,292,297 9,876,976
977,835 8,899,14!
D e p o s its , D e c e m b e r 31, 1 9 3 4 ............................ 49,687,109 40,044,198 9,642,911 39,945,538 38,999,392 21,637,150 12,211,255 5,150,987
946,146 9,741,571 1,044,806 8,696,765
DEPOSIT
N on
insured
FEDERAL
M utual savings banks
C h a n g e s in c la ssific a tio n — n e t .
96,995
D ecrease— t o t a l .....................................................
Changes in charter jurisdiction...................
Other successions involving changes in
classification.....................................................
Other withdrawals from Federal Reserve
m em bership......................................................
Other admissions to Federal Reserve
m em bership......................................................
Other
voluntary
withdrawals
from
insurance............................................................
Other admissions to insurance.....................
Mergers, consolidations and
______ absorptions........................................................
412,922
30,172
183,516
183,516
201,012
27,352
211,910
2,820
297
323,689
30,172
94,283
85,490
1,207
180,980
94,283
201,012
27,352
101,000
70,373
464
29,639
680
122,677
2,820
89,233
89.233
119,288
89.233
89,233
26,208
960
663
960
663
50,412
50,412
50,412
50,412
1,765
24,097
1,765
24,097
1,765
24,097
1,765
24,097
1,765
24,097
21,439
21,439
21,439
21,439
21,439
2,658
2,658
2,658
2,658
2,658
208,521
119,288
96,723
272
96,995
96,723
74,792
19,497
2,434
272
384,528
29,596
28,394
576
323,689
30,172
295,295
29,596
15,510
3,964
69,166
19,596
210,619
6,036
28,394
576
960
297
663
1,765
1,765
96,995
50,412
297
1,765
50,412
50,412
50,412
119,288
119,288
24,097
119,288
24,097;
3,058
96,995!
93,937
208,521
93,937
297
1,765
89.233
IN
50,412
208,521
24,097
960
89.233
350,4 12
208,521
1,765
89,233
(s)
89,233:
89,233
24,097
11,546
47,805
34,586
3,058
BANKS
412,922
30,172
DEPOSITS
In cre a se — t o t a l ..................................
Changes in charter jurisdiction
Other successions involving changes
classification.................................
Other admissions to Federal Reserve
m em bership.......................
Other withdrawals from Federal Reserve
m em bership........................................
Other admissions to insurance . . .
Banks in operation at beginning o f
y e a r ..................................................................
Banks opened for business during
y e a r ..................................................................
Other voluntary withdrawals from in
surance ................................................................
Mergers, consolidations and
absorptions........................................................
f i g u r e s for deposits o f noninsured banks and o f State banks not m em bers o f the F ederal R eserve System revised since pu b lica tio n o f the Annual Report of the Federal
Deposit Insurance Corporation for the year ending D ecem ber 31, 1934.
2D ep osit figures of banks in v o lv e d in changes are as o f call dates nearest to dates o f change, except in the case o f suspended insured banks for w hich deposits are those at
date o f suspension.
8One trust com p a n y w ith no deposits was adm itted to Federal Reserve m em bership during 1935.
N O T E : Italics indicate decrease.
169
170
FEDERAL DEPOSIT INSURANCE CORPORATION
A SSE T S A N D L IA B IL IT IE S OF O P E R A T IN G B A N K S
T able 122.
SU M M A R Y OF A S S E T S AN D L I A B I L I T I E S OF O P E R A T IN G
B a n k s in t h e
U n ite d
June
S ta te s
29, 1935,
and
and
P o s s e s s io n s , D e c e m b e r
D ecem ber
C O M M E R C IA L
31, 1934,
31, 1935
(Am ounts in millions of dollars)
1934
1935
December 31
June 29
December 31
A ll b a n k s
ASSETS
Loans, discounts, and overdrafts................................
United States Government obligations, direct
and fully guaranteed................................................
Other securities....................................................................
Cash and amounts due from other b an k s...............
Other assets...........................................................................
T o ta l a s s e t s ...........................................................
14,975
14,877
15,111
12,091
6,679
11,522
2,569
47,836
12,728
6,957
11,793
2,368
13,806
7,098
14,313
2,368
48,723
52,696
L I A B I L IT I E S
Total deposits.......................................................................
Borrowed m on e y.................................................................
Other liabilities....................................................................
T otal capital account........................................................
T o ta l lia b ilities a n d c a p ita l a c c o u n t. .
40,043
49
1,313
6,431
47,836
4 1,409
46
757
6,511
45,532
35
611
6 ,518
48,723
52,696
Number o f banks..................................................
In su red b a n k s
A S SE T S
Loans, discounts, and overdrafts................................
United States Government obligations, direct
and fully guaranteed................................................
Other securities....................................................................
Cash and amounts due from other b an k s...............
Other assets...........................................................................
T o ta l a s s e t s ...........................................................
14,603
14,495
14,698
11,713
6,459
11,203
2,461
46,439
12,352
6,685
11,457
2,263
13,275
6,841
13,851
2,253
5 0,918
L I A B I L IT I E S
Total deposits.......................................................................
Borrowed m on e y.................................................................
Other liabilities....................................................................
Total capital account........................................................
T o ta l lia b ilities a n d c a p ita l a c c o u n t. .
38,996
49
1,242
6,152
46,439
Num ber o f ban k s..................................................
1 14,137
N o n in su re d b a n k s 4
ASSETS
Loans, discounts, and overdrafts................................
United States Government obligations, direct
and fully guaranteed................................................
Other securities....................................................................
Cash and amounts due from other b an k s...............
Other assets...........................................................................
T o ta l a s s e t s ..........................................................
L I A B I L IT I E S
T otal deposits.......................................................................
Borrowed m o n e y .................................................................
Other liabilities....................................................................
T otal capital account........................................................
T o ta l lia b ilitie s a n d c a p ita l a c c o u n t. .
N um ber of b a n k s..................................................
47,252
40,300
46
693
6,213
4 4,126
35
547
47,252
50,918
6,210
3 14,123
372
382
413
378
376
272
336
105
1,471
531
257
462
115
1,778
1,047
1,109
1,406
" " n
” "6 4
298
1,471
64
308
1,778
220
319
108
1,397
279
1,397
5 1,095
1 E xcludes 12 insured banks not m em bers o f the Federal Reserve System from w hich reports were
not received.
2 E xcludes 4 insured banks not m em bers of the Federal R eserve System from w hich reports were
not received .
3 E xcludes 2 insured banks not m em bers of the Federal Reserve System from w hich reports were
not received.
4 Inclu des private ban ks under State supervision.
5 E xcludes noninsured banks for which figures are not available. These num bered 46 banks on
D ecem ber 31, 1934; 38 banks on June 29, 1935; and 26 banks on D ecem ber 31, 1935.
171
ASSETS AND LIABILITIES OF OPERATING BANKS
T able 123.
SU M M AR Y OF A S SE T S AND LIA B IL IT IE S OF O PERATIN G M U T U A L SA VIN G S
31, 1934,
31, 1935
B a n k s in t h e U n it e d S t a t e s , D e c e m b e r
and D ecem ber
June
29, 1935,
(A m ou n ts in millions o f dollars)
1935
December 31
June 29
December 31
A ll b a n k s
AS S E T S
5,400
5,244
5,127
1,228
3,116
516
738
10,998
1,489
3,050
524
799
11,106
1,673
2,933
547
873
11,153
Total deposits.........................................................................
Borrowed m on e y...................................................................
Other liabilities......................................................................
Total capital account..........................................................
T o ta l lia b ilitie s a n d c a p ita l a c c o u n t .............
9,742
2
17
1,237
10,998
9,829
2
21
1,254
11,106
9,877
1
20
1,255
11,153
Number of b an k s.............................................................
575
566
566
555
539
489
160
318
60
84
1,177
182
312
69
93
1,195
179
284
1,108
1,045
1,058
978
128
1,177
3
132
1,195
3
126
1,108
Loans, discounts, and overdrafts...................................
United States Government obligations, direct and
fully guaranteed...........................................................
Other securities......................................................................
Cash and amounts due from other b an k s.................
Other assets.............................................................................
T o ta l a s s e t s ......................................................................
L IA B IL IT IE S
In su re d ban ks
A SSE TS
Loans, discounts, and overdrafts...................................
United States Government obligations, direct and
fully guaranteed...........................................................
Other securities......................................................................
Cash and amounts due from other b an k s.................
Other assets.............................................................................
T o ta l a s s e t s .......................................................................
68
88
L I A B I L IT I E S
Total deposits.........................................................................
Borrowed m o n e y ...................................................................
Other liabilities......................................................................
Total capital account..........................................................
T o ta l lia bilities a n d c a p ita l a c c o u n t .............
2
2
2
Number o f ban ks.............................................................
1
56
N o n in su re d b a n k s
A S SE T S
Loans, discounts, and overdrafts......................................
United States Government obligations, direct and
fully guaranteed.............................................................
Other securities.........................................................................
Cash and amounts due from other ban ks...................
Other a ssets................................................................................
T o ta l a s s e t s .........................................................................
4,845
4,705
4,638
1,068
2,798
456
654
9,821
1,307
2,738
455
706
9,911
1,494
2,649
479
785
10,045
8,697
8,771
8,899
15
1,109
9,821
18
9,911
17
1,129
10,045
507
503
510
L I A B I L IT I E S
Total deposits...........................................................
Borrowed m o n e y .....................................................
Other liabilities........................................................
Total capital account............................................
T o ta l lia b ilities a n d c a p ita l a c c o u n t .
Num ber of b an k s.
1,122
ASSETS AND LIABILITIES OF OPERATING INSURED COMMERCIAL BANKS, CALL DATES, JUNE 3 0 , 1 9 3 4 , TO DECEMBER 3 1 , 1 9 3 5
172
Table 124.
Insured commercial banks not members
F. R. System
All insured commercial banks
i
1935
1934
N um ber o f b a n k s.................................................................................
December 31
June 29
December 31
June 30
December 31
June 29
December 31
113,896
214,137
314,175
414,123
1 7,521
2 7,695
3 7,765
4 7,736
201,164
17,751
284,725
38,276
89,531
181,539
29,377
309,903
33,103
72,219
1,482
357
18,723
2,439
9,590
1,232
583
24,782
1,939
6,515
537
459
37,621
1,649
7,104
528
460
37,954
1,186
6,151
1,116,165
213,261
3,713,803
555,885
2,906,282
5204,856
216,690
5,584,453
7,680
876,561
191,825
3,492,460
499,251
2,836,414
5134,433
235,382
5,616,665
9,729
993,856
197,497
3,294,779
497,475
2,832,874
5179,584
138,969
5,722,008
6,966
1,064,772
203,078
3,228,460
487,505
2,835,257
5192,460
174,874
5,875,755
9,679
34,538
5,723
404,945
267,405
838,062
204,856
6,532
868,867
2,179
33,193
5,120
382,900
237,455
824,849
134,433
3,558
915,330
3,162
19,224
5,688
363,681
238,946
814,066
179,584
3,751
893,024
2,155
17,897
6,810
335,917
236,290
802,623
192,460
5,477
876,172
2,954
T o ta l lo a n s , d is c o u n ts , a n d o v e r d r a ft s .............................
15,188,678
14,603,154
14,495,455
14,697,981
2,665,698
2,575,051
2,567,489
2,522,879
U n ite d S ta te s G o v e r n m e n t d ire c t o b lig a t io n s :
B o n d s...................................................................................................................
Treasury notes.................................................................................................
Treasury bills and certificates.................................................................
5,210,244
3,046,894
1,450,838
5,069,132
4,401,740
1,032,187
4,889,004
4,476,099
1,104,669
4 ,369,967
5,603,462
1,195,007
371,801
175,996
23,495
410,583
184,556
2,228
4 31,038
162,194
5,414
464,482
199,996
3,431
T o ta l U n ite d S ta te s G o v e r n m e n t d ire c t o b lig a tio n s
9,707,976
10,503,059
10,469,772
11,168,436
571,292
597,367
598,646
667,909
O b lig a tio n s fu lly g u a r a n te e d b y th e U n ite d S ta te s
G o v e r n m e n t:
Reconstruction Finance C orporation...................................................
Federal Farm Mortgage Corporation..................................................
H om e Owners’ Loan Corporation..........................................................
T o ta l o b lig a tio n s fu lly g u a ra n te e d by th e U . S .
G o v e r n m e n t .................................................................................. ..
235,942
61,585
6295,997
245,462
326,788
637,585
246,715
447,451
1,188,051
243,393
563,041
1,300,419
922
20,461
663,498
4,073
84,688
131,866
2,991
114,204
206,641
1,989
127,535
209,465
593,524
1,209,835
1,882,217
2,106,853
84,881
220,627
323,836
338,989
CORPORATION
257,273
31,987
257,223
56,701
107,250
INSURANCE
265,222
20,559
218,727
55,080
110,015
DEPOSIT
L o a n s, d is c o u n ts , a n d o v e rd ra fts (in c lu d in g re d isc o u n ts):
Acceptances o f other banks payable in the United S ta tes. . . .
Notes, bills, acceptances, etc., payable in foreign cou ntries.. .
Commercial paper bought in open m ark et........................................
Loans to banks and trust companies— On securities....................
— All other...........................
Loans on securities, exclusive o f loans to banks— ■
T o brokers and dealers in N ew Y o r k ..............................................
T o brokers and dealers elsewhere.....................................................
T o eth e rs.......................................................................................................
Real estate loans, mortgages, etc.— On farm land.........................
— On other real esta te..........
Loans secured by chattel m ortgages....................................................
Reporting bank’s own acceptances.......................................................
All other loan s.................................................................................................
O verdrafts..........................................................................................................
FEDERAL
June 30
1935
1934
915,267
902,784
106,673
669,851
145,990
980,743
908,600
101,533
661,688
146,553
1,025,574
975,497
97,597
681,882
146,382
79,050
100,087
355,994
70,500
93,053
325,849
164,300
77,363
92,573
7,173
424,258
4,527
25,643
41,338
2,231
10,762
441,135
4,815
457,024
4 ,708
48,955
873
19,072
474,534
5,908
1,017,472
1,090,295
97,632
704,350
130,317
179,659
191,183
28,894
131,004
187,760
193,797
26,794
126,603
200,516
210,820
26,066
132,160
195,635
234,648
23,307
140,318
71,682
93,305
336,813
62,384
88,856
334,825
16,072
27,960
87,142
14,992
25,985
77,655
15,794
25,519
77,601
13,864
22,875
70,171
148,705
132,884
143,878
23,804
20,936
19,568
21,843
56,217
91,171
73,822
88,904
72,600
76,987
15,870
17,695
13,635
17,257
14,558
15,399
15,546
12,169
6,196,585
6,458,613
6,684,498
6 ,841,099
1,190,053
1,231,338
1,257,353
1,299,718
3,819,410
622,749
1,093,987
4,081,565
792,674
1,944,295
4,933 ,2 7 7
705,488
1,219,335
5,573,212
869,626
2,304,017
150,106
37,208
184,072
40,988
168,478
35,962
204,848
49,262
1,302,378
2,232,294
126,325
1,480,875
2,559,545
152,784
1,612,871
2,759,445
150,266
1,817,424
3,033,305
160,645
185,723
682,672
32,316
199,984
804,602
39,645
233,015
853,898
39,566
256,956
972,764
42,534
(8)
(8)
<8)
4,981
1,249
4,101
13,851,126
1,092,997
1,275,139
1,335,900
1,531,714
17,698
1,196,266
550,723
215,026
140,648
211,351
151,757
211,293
168,487
1,726
204,582
183,744
180,495
11,671
1,489
293,726
1,444
451
2,586
85,901
1,142
171
1,745
96,391
1,183
152
1,388
61,248
1,424
534
698
41,611
.9,342,795
11 , 202,101
11,456,907
(8)
1 ,209,933
507,573
11,842
158,934
6,194
2,306
365,983
(8)
<8)
(8)
2,406,230
2,462,508
2,262,770
2,252,068
446,056
462,557
443,751
434,319
43,435,788
46,439,270
47,251,619
50,917,563
6,050,977
6,362,079
6,526,975
6,795,528
BANKS
5,848
38,008
54,889
(8)
10,000
<8)
76,225
1,212,438
465,313
33,956
243,093
1,932
3,641
502,135
3,109
43,456
1,055
4,972
190,363
(8)
i
<8)
145,652
1,212,843
426,996
36,249
254,360
2,371
5,110
468,301
°
34,812
OPERATING
(8)
j
OF
224,116
98,702
40,728
2,633,631
24,326
LIABILITIES
T o ta l m is c e lla n e o u s a s s e t s ................................................
T o ta l a s s e t s ..........................................................................................
10,498
205,925
134,422
29,268
2 ,558,536
21,507
AND
T o ta l o th e r b o n d s, s to c k s , a n d s e c u r it ie s ......................
G a sh , b a la n ces w ith o th e r b a n k s , a n d ca sh it e m s in p r o
cess o f c o lle c tio n :
Reserve with Federal Reserve b a n k s..................................................
Coin and currency........................................................................................
Cash items in process o f collection.......................................................
Demand balances with other banks in the United States—
In N ew York C it y ...................................................................................
Elsewhere in the United S ta te s.........................................................
Time balances with other banks in the United S ta te s...............
Balances with private banks and American branches of
foreign b an k s..............................................................................................
Balances with banks in foreign countries..........................................
T o ta l ca sh , b a la n ce s w ith o th e r b a n k s , a n d ca sh
it e m s in p rocess o f c o l l e c t i o n ............................................
M isc e lla n e o u s a s s e ts :
Cash items not in process o f collection..............................................
Banking house .furniture and fixtures.................................................
Other real estate ow ned .............................................................................
Redemption fund and due from United States Treasurer. . . .
Customers’ liability on account o f acceptances..............................
Acceptances o f other banks and bills sold with endorsement .
Securities borrowed.......................................................................................
Other assets......................................................................................................
33,615
2,256,316
23,256
136,791
177,353
119,520
29,651
2,388,770
21,916
j 273,466
°
i>
<
ASSETS
O th e r b o n d s , sto c k s, a n d s e c u r itie s :
Obligations of—
H om e Owners’ Loan Corporation guaranteed as to interest
o n ly .............................................................................................................
Federal Land b a n k s................................................................................
Federal Intermediate Credit b a n k s.................................................
Joint Stock Land B a n k s.......................................................................
States and political subdivisions.......................................................
Territorial and insular possessions o f the United S ta te s.. ..
Bonds, notes, and debentures of—
R ailroads......................................................................................................
Public utilities............................................................................................
Real estate corporations.......................................................................
Other domestic corporations...............................................................
Stock o f Federal Reserve b an ks............................................................
Stock o f other domestic corporations—
Real estate corporations.......................................................................
Banks and banking corporations......................................................
Other domestic corporations...............................................................
Foreign securities—
Obligations of foreign central governm ents................................
Obligations o f foreign provincial, State, and municipal
governments............................................................................................
Other foreign securities..........................................................................
CO
ASSETS AND LIABILITIES OF OPERATING INSURED COMMERCIAL BANKS, CALL D ATES, JUNE 30, 1934, TO DECEMBER 31, 1935
— Continued
Insured commercial banks not members
F. R . System
All insured commercial banks
1934
1935
1934
1935
June 29
|Decem ber31
14,881,070
1,708,141
2,023,548
16,717,180
1,686,555
2,265,552
18,029,625
804,567
2,586,882
400,287
862,934
445,727
921,170
28,621
24,679
29,116
39,464
T o ta l d e m a n d d e p o s it s .................................................................
19,013,046
21,532,221
21,866,801
24,550,779
2,036,993
2,307,846
2,37 4 ,6 2 3
2,650,486
T im e d e p o sits (exclusive o f in te r b a n k d e p o s i t s ) :....................
Deposits o f indivuals, partnerships, and corporations— ............
Deposits evidenced by savings pass b o o k s...................................
Certificates o f d eposit..............................................................................
Christmas savings and similar accou n ts........................................
Open accou n ts.............................................................................................
Postal savin g s..................................................................................................
Public funds o f States and political subdivisions..........................
9,163,890
1,459,611
79,656
617,041
661,327
384,032
9,708,911
1,363,516
25,549
556,316
524,404
335,070
10,236,013
1,355,785
85,102
577,171
372,479
325,624
1 0,575,116
1 ,299,133
3 0,874
590,436
279,928
405,187
1,995,651
514,433
2 0,207
26,669
76,300
51,358
2.109.883
481,538
6,202
36,227
72,416
40,618
2 ,250,367
487,005
20,369
34,564
65,876
40,548
2,281,256
483,232
9,371
42,064
62,364
43,841
T o ta l t i m e d e p o s i t s .........................................................................
12,365,557
12,513,766
12,952,174
1 3,180,674
2 ,6 8 4 ,6 1 8
2 .7 4 6 .8 8 4
2 ,898,729
2 ,922,128
I n t e r b a n k d e p o s i t s :.......................................................................................
Deposits o f banks in the United S ta te s ..............................................
Deposits of banks in foreign countries................................................
4 ,270,506
164,485
4,794,507
155,846
5 ,201,586
279,638
5,941,190
4 52,978
78,109
1,507
91,691
1,514
87,410
1,310
94,620
4,204
T o ta l i n t e r b a n k d e p o s i t s ............................................................
4,434,991
4,950,353
5,481 ,2 2 4
6,39 4 ,1 6 8
79,616
93,205
88,720
98,824
June 30
|December 31
(In thousamds o f dollars)
20,074,063
8 81,308
2,674 ,2 3 8
1,532,346
50,348
425,678
1,766,011
51,039
466,117
1,823,382
25,851
4 96,274
2,038,981
37,267
534,774
T o ta l d e p o s it s ......................................................................................
35,813,594
38,996,340
40,300,199
44,125,621
4 ,8 0 1 ,2 2 7
5 ,147,935
5 ,3 6 2 ,0 7 2
5 ,671,438
Secured by pledge o f loans and securities.........................................
N o t secured b y pledge o f loans and securities................................
4,202,769
31,610,825
4,084,550
34,911,790
3,445,769
36,854,430
3,492,359
40,633,252
378,632
4,422,595
390,527
4,757,408
362,174
4,999,898
391,638
5,279,800
C ir c u la t in g n o te s o u t s t a n d i n g ..............................................................
694,790
650,935
222,045
6,275
68,463
4,112
5,110
6,942
40,504
1,322
3,641
8,650
35,925
1,724
2,306
8,474
25,497
1,048
1,489
961
36,711
1,024
2,586
601
28,383
656
1,745
1,241
28,072
710
1,388
366
20,303
151
698
11,670
9,360
14,773
25,014
318
384
423
647
CORPORATION
L IA B IL IT IE S
D e m a n d d e p o sits (e x clu siv e o f in t e r b a n k d e p o s i t s ) :............
Deposits o f individuals, partnerships, and corporations.............
United States Governm ent deposits.....................................................
Public funds o f States and political subdivisions...........................
Cash letters o f credit, certified, officers’ and travelers*
checks outstanding and amounts due to Federal Reserve
ba n k s...............................................................................................................
December 31
INSURANCE
June 29
DEPOSIT
|December 31
FEDERAL
June 30
M is c e lla n e o u s l i a b i l i t i e s :...........................................................................
Agreements to repurchase securities s o ld ..........................................
Bills p a y a b le.....................................................................................................
R ediscounts.......................................................................................................
Securities borrow ed.......................................................................................
Acceptances executed by other banks for account o f reporting
b a n k s...............................................................................................................
174
Table 124.
M ortgage bonds and participation certificates outstanding. .
Acceptances o f other banks and bills sold with endorsement
Acceptances executed for cu stom ers..................................................
Interest, taxes, and other expenses accrued and un paid. . . .
Dividends declared but not yet p a y a b le .........................................
Other liabilities.............................................................................................
T o ta l m is c e lla n e o u s l ia b ilit ie s ............................
8,678
171
521
7,263
1,975
66,695
7,729
152
667
7,970
1,621
15,354
6,905
534
500
7,559
2,579
18,595
683 ,077
640,428
516,173
581,517
110,347
117,072
65,327
58,837
37,191,461
4 0,287,703
4 1,0 3 8 ,4 1 7
4 4,707,138
4 ,9 1 1 ,5 7 4
5 ,265,007
5,427,399
5,730,275
3,319,216
1,962,163
470,668
491,126
3,348,841
1,914,833
470,017
4 14,087
3,3 6 5 ,3 0 9
1,892,655
529,451
420,661
3,30 0 ,1 9 6
1,946,020
548,084
407,369
667,034
271,603
83,440
116,869
684,755
253,177
79,004
7 8,869
681,990
245,631
93,085
77,133
666,456
235,421
89,792
70,994
3,789
5,126
8,756
457
1,267
1,737
2,590
6,151 ,5 6 7
6 ,2 1 3 ,2 0 2
6 ,210,425
1,139,403
1,097,072
1,099,576
1,065,253
T o ta l lia b ilitie s , in c lu d in g c a p ita l a c c o u n t .
43,435,788
4 6,439,270
4 7,251,619
50,917,563
6,0 5 0 ,9 7 7
6 ,362,079
6,526,975
6,795,528
LIABILITIES
3,922,453
1,576,461
304,130
4 ,0 4 8 ,4 2 6
1,280,944
219,592
3 ,1 0 1 ,5 8 8
1,142,496
200,124
2,994,476
1,062,353
118,296
182,483
262,412
108,330
209,650
234,028
72,685
225,203
199,410
57,378
244,182
191,282
46,728
OF
5,803,044
5,54 8 ,9 6 2
4 ,444 ,2 0 8
4,1 7 5 ,1 2 5
553,225
516,363
481,991
482,192
680,163
225,394
2 ,347,240
1,538,341
440,931
238,461
78,709
1,355,372
1,656,917
706,527
2 15,606
47,025
1,275,647
1,795,650
600,334
232,885
34,869
137,591
247,760
20,287
30,557
9 1,078
128,553
256,898
23,061
26,376
51,798
102,603
263,864
26,283
27,799
3 3,719
106,137
276,007
26,937
20,100
24,886
141,268
88,638
149,323
75,794
165,347
72,020
164,162
71,578
17,073
8,879
18,863
10,814
19,559
8,164
19,487
8,638
T o t a l ....................................................................................................... .
5,803,044
5 ,5 4 8 ,9 6 2
4,4 4 4 ,2 0 8
4 ,1 7 5 ,1 2 5
553,225
E xcludes 43 insured com m ercial banks not m embers o f the .Federal Reserve System for which figures were not available.
E xcludes 12 insured com m ercial banks not m em bers of the Federal Reserve System for which figures were not available.
E xcludes 4 insured com m ercial banks not m embers o f the Federal Reserve System for w hich figures were not avaliable.
E xcludes 2 insured com m ercial banks not m em bers of the Federal Reserve System for w hich ngures were not available.
F or insured banks m em bers o f the Federal Reserve System am ounts are included with “ A ll other loans” .
Inclu des H om e O w ners’ Loan C orporation 4 percent bonds guaranteed as to interest only.
See note 6.
N o t reported separately.
516,363
481,991
482.192
BANKS
720,933
2,542,109
1,513,427
369,540
272,478
154,651
OPERATING
1,154
T o ta l.
b
12,450
451
896
8,617
( 8)
46,333
6,244,327
P le d g e d :........................................................................................................
Against circulating notes outstanding.......................................
Against United States Government and postal savings
deposits.................................................................................................
Against public funds o f States and political subdivisions.
Against deposits o f trust departm ent........................................
Against other de posits.......................................................................
Against borrowings..............................................................................
W ith State authorities to qualify for the exercise of
fiduciary pow ers...............................................................................
For other purposes..............................................................................
7
8
31,347
11,671
173,704
76,166
43,598
183,509
T o t a l c a p ita l a c c o u n t ...................................................
M EM ORANDUM
*
L o a n s a n d se c u ritie s p le d g e d to secu re lia b ilitie s :. . ..
United States Government obligations, direct and fully.
guaranteed..........................................................................................
Other bonds, stocks, and securities............................................
Loans and discounts.........................................................................
4
35,304
6,194
160,886
77,859
37,897
134,655
AND
C a p ita l a c c o u n t : ....................................................................................
Capital stock and capital notes and debentures..................
S u rplus.......................................................................................................
Undivided profits— n e t ......................................................................
Reserve for contingencies and undeclared dividends...........
Retirem ent fund for preferred stock or capital notes and .
debentures...........................................................................................
(8)
176,771
43,943
1,932
254,312
70,641
42,287
165,544
ASSETS
T o ta l lia b ilitie s , e x c lu d in g c a p ita l a c c o u n t .
61,387
2,371
267,542
79,376
-3
Ol
A S S E T S A N D L I A B I L I T I E S OF O P E R A T IN G IN S U R E D C O M M E R C IA L B A N K S N O T M E M B E R S OF TH E F E D E R A L R E S E R V E S Y S T E M ,
D e c e m b e r 31, 1935
176
Table 125.
B A N K S G R O U P E D B Y A M O U N T OF D E P O SIT S
!
All
banks
$100,000
to
250,000
$250,000
to
500,000
2,483
1,961
38,242
1,186
6,151
256
4
73
2,496
39
474
5,816
65
766
3,597
4
430
3,052
14
263
7,971
107
613
7,632
164
951
7,422
789
2,581
17,897
6,808
329,257
236,213
789,249
192,460
5,477
868,560
2,952
14
2
564
5,948
3,096
12,824
277
16,873
66
163
31
4,947
35,061
24,309
50,505
988
91,095
374
398
173
13,886
53,502
49,112
50,977
705
136,127
438
190
208
15,344
33,512
44,346
22,401
1,038
90,796
329
231
56
15,826
25,071
4 0,476
13,269
37
62,703
223
848
837
56,650
39,245
127,136
20,678
203
154,005
287
2,723
1,952
66,741
26,714
151,654
7,872
57
136,805
1,043
8,658
3 ,528
137,270
15,057
234,532
13,933
2,172
169,709
188
4,672
21
18,029
2,103
114,588
1
2,494 ,4 5 2
39,997
210,482
311,965
212,195
161,221
408,580
404,308
595,839
149,865
779 I
445 !
671
321 ;
123
4
(In thousands o f dollars)
10,447
4
t
662,322
2,908
27,525
51,886
40,424
35,184
93,466
120,921
201,403
88,605
335,557
474,183
817,020
3,670
5,001
2,828
26,660
34,827
37,537
45,408
62,894
79,259
30,846
42,020
68,510
23,190
36,087
60,461
53,229
82,419
156,792
54,413
64,018
168,736
78,372
99,159
217,882
19,769
47,758
25,015
T o t a l lo a n s a n d s e c u r i t i e s .............................
4 ,7 8 3 ,5 3 4
54,404
337,031
551,412
393,995
316,143
794,486
812,396
1,192,655
331,012
Custom ers’ liability on account o f acceptances . . .
Banking house, furniture and fixtures.........................
Other real estate ow n e d ......................................................
Coin and currency..................................................................
Balances with other ban ks.................................................
Cash items in process o f collection................................
Cash items not in process o f collection.......................
Acceptances of other banks and bills sold with en
dorsement
. . . .
.
..
...
Securities borrowed
Other assets...............................................................................
1,424
200,097
180,552
202,667
1,266,079
46,887
1,725
1
3,553
2,698
3,398
24,305
166
32
60
15,241
9,838
16,986
137,380
1,255
119
118
21,309
15,223
25,066
200,646
2,385
306
36
14,770
11,158
16,851
120,196
2,107
137
30
12,020
9,650
13,578
95,487
1,958
152
40
34,166
26,926
33,631
203,162
7,854
228
305
35,190
30,834
33,390
186,034
8,466
313
832
54,790
62,954
45,935
260,419
21,454
433
2
9,058
11,271
13,832
38,450
1,242
5
534
698
41,432
28
388
192
1,761
71
2,299
113
2,832
12
1,616
28
202
5,015
35
80
7,133
18,906
1,482
T o t a l a s s e t s ..............................................................
6,725,629
88,973
519,863
818,835
562,195
450,646
1,105,738
1,114,176
1,658,849
406,354
471
CORPORATION
Obligations, direct, o f the U . S. G overnm ent.........
Obligations fully guaranteed by the U. S. G overn
ment .........................................................................................
Obligations of States and political subdivisions . . . .
Other bonds, stocks, and securities..............................
INSURANCE
936
DEPOSIT
T o ta l lo a n s , d is c o u n ts , a n d o v e rd ra fts.
I
$750,000 |$ 1,000,000 $2,000,000! $5,000,000
| Over
to
to
to
i
to
1,000,000 | 2,000 ,0 0 0 5 ,000,000 ! 50,000,000 $50,000,000
*7,723
ASSETS
N o tes, bills, acceptances o f other banks, and comLoans to banks and trust com panies-On securities .
— All other . . .
Loans on securities, exclusive o f loans to banks:
T o brokers and dealers in N ew Y o r k .....................
T o brokers and dealers elsewhere.............................
T o oth e rs...............................................................................
Real estate loans, mortgages, e tc .-O n farm land. .
— On other real estate
Loans secured by chattel m ortgages............................
Reporting banks’ own acceptances................................
All other lo a n s.........................................................................
O verdrafts..................................................................................
$500,000
to
750,000
FEDERAL
Num ber of b a n k s....................................................
Banks with deposits of—
$100,000
and
under
LIABILITIES
T o ta l d e p o s its .
188,531
141,697
335,340
301,042
437,072
47,965
279,724
79,834
1,346
9,219
2,621
216,939
50,761
1,333
8,052
2,910
188,847
40,159
765
6,426
3,709
466,242
89,294
3,646
12,192
676,798
157,888
21.043
15,405
51,482
283,894
17,181
3,620
10,111
509,335
81,251
4,854
6,963
15,871
39,192
262
1,767
3,745
2,777
2,671
6,472
8,374
12.044
1,080
421,180
686,830
471,303
384,274
923,297
927,690
1,371,732
363,944
87
29
60
479
71
991
783
113
818
12
12
12
2,105
170
2,635
5,614,627
151
13
195
28
7,357
2,543
18,505
59
46
147
223
254
640
465
423
1,428
313
253
1,386
297
216
517
5,673,136
65,016
423,064
689,787
475,154
386,508
932,269 |
658,596
232,187
88,525
18,851
3,325
1,353
71,494
14,926
7,537
9 0,228
22,048
10,776
58,948
16,208
7,752
41,823
12,377
5,601
111,881 S
3 6,136 |
14,712
70,608
383
2,582
5,667
3,884
2,577
45
260
329
249
6,725,629
88,973
519,863
818,835
562,195
475
192
13
2
1 Excludes 2 national banks in Alaska, 1 bank in Hawaii, 11 banks in the D istrict o f Colum bia, and 1 other bank.
101
40
927
504
2,389
1,309 |
400
2,906
202
10,131
609 j
450,646
2,602
4,940
80 i
301 j
1,105,738
456
22 i
10,129 I
122
1,299
3,243 ;
372 ;
7,630 [
1,462
940,329
_ M 9 4 ,8 8 3 j
366,126
103,723
38,205
14,822
142,008 !
74,887 :
23,166
19,640
14,075
2,806
16,494
23,591 |
603
314 |
1,114,176
1,658,849
521
75
3,707
406,354
BANKS
6,905
366
20,454
698
1,681
10,204
OPERATING
T o ta l lia b ilitie s , in c lu d in g c a p ita l
a c c o u n t .........................................................
310,341
148,676
54,209
474
3,785
1,483
OF
C apital stock and capital notes and debentures...
Su rplus.........................................................................................
U ndivided profits— n e t........................................................
Reserve for contingencies and undeclared
dividends...............................................................................
Retirement fund for preferred stock or capital
notes and debentures......................................................
210,786
18,601
7,872
44
279
144
LIABILITIES
T o ta l lia b ilit ie s , e x c lu d in g c a p ita l
a c c o u n t .........................................................
37,175
2,789,056
578,449
37,125
62,321
98,535
AND
M ortgage bonds and participation certificates out
standing..................................................................................
Agreements to repurchase securities s o ld ..................
Borrowed m o n e y .....................................................................
Securities borrowed................................................................
Liability on account o f acceptances.............................
Interest, taxes and other expenses accrued and
u n p aid .....................................................................................
Dividends declared but not yet p a y a b le...................
Other liabilities........................................................................
2,009,949
ASSETS
D em and deposits o f individuals, partnerships, and
corporations..........................................................................
Tim e deposits o f individuals, partnerships, and
corporations..........................................................................
Public funds o f States and political subdivisions. .
U . S. G overnment dep osits...............................................
Postal savings deposits........................................................
Deposits o f other b a n k s......................................................
Cash letters of credit; certified, officers’ and trav
elers’ checks ou tstanding...............................................
-3
T a b le 126.
A v e r a g e s PER BANK OF ASSETS AND LIABILITIES, OPERATING INSURED COMMERCIAL BANKS
N ot M e m b e r s of T h e F e d e r a l R e s e r v e S y s t e m , D e c e m b e r 3 1 , 1 9 3 5
178
BANKS GROUPED BY AMOUNT OF DEPOSITS
Banks "with deposits of—
banks
$
4,952
2,483
936
27,723
$
274
$250,000
to
500,000
$
1,005
$500,000
to
750,000
1,961
$
2,966
$750,000
to
1,000,000
779
$
4,617
$1,000,000
to
2,000,000
445
$
6,858
$2,000,000
to
5,000,000
671
$
11,879
$5,000,000
to
50,000,000
321
$
23,776
123
$
Over
$50,000,000
0)
4
60,341
4
78
16
191
33
391
5
552
31
591
159
914
511
2,963
6,415
2 0 ’984
2,317
882
42,633
30 ,5 8 6
15
2
603
6,355
66
12
1,992
14,121
203
88
7,081
27,283
244
267
19,697
43,019
519
126
35,564
56,339
1,264
1,247
84,426
58,487
8,483
6,081
207,916
83,221
70,390
28,683
1,116,016
122,415
$ 1,168,000
5,250
4,5 0 7 ,2 5 0
525,750
102,195
24,920
709
112,464
382
3,307
13,701
296
18,027
70
9,790
20,340
398
36,687
151
25,044
25,996
360
6 9,417
223
56,927
28,756
1,333
116,555
422
90,958
29,818
83
140,906
501
189,472
30,817
303
229,516
428
472,442
24,523
177
4 26,184
3,249
1,906,764
113,277
17,659
1 ,379,747
1,529
28,647,000
250
2 ,611,750
1,000
322,990
42,732
84,769
159,085
272,394
362,294
608,912
1,259,526
4 ,8 4 4 ,2 2 0
37,4 6 6 ,2 5 0
85,760
3,107
11,085
26,459
51,892
79,065
139,294
376,701
1,637,423
2 2,151,250
4 3,449
61,398
105,791
3,921
5,343
3,021
10,737
14,026
15,118
23,155
32,072
4 0 ,4 1 8
39,597
53,941
87,946
52,113
81,095
135,867
79,328
122,830
233,669
169,511
199,433
525,658
637,170
806,171
1,771,398
4,9 4 2 ,2 5 0
11,939,500
6,253,750
T o ta l lo a n s a n d s e c u r it ie s .............................
619,388
58,124
135,735
281,189
505,770
710,434
1 ,184,033
2 ,530,829
9 ,6 9 6 ,3 8 2
82,753,000
Customers’ liability on account o f acceptances.
Banking house, furniture and fixtures....................
Other real estate ow n e d .................................................
Coin and currency.............................................................
Balances with other b a n k s...........................................
Cash items in process o f collection..........................
Cash items not in process of collection................
Acceptances o f other banks and bills sold with
endorsem ent....................................................................
Securities borrow ed..........................................................
Other assets..........................................................................
185
25,909
23,379
26,242
163,936
6,071
223
1
3,796
2,883
3,630
25,967
177
34
24
6,138
3,962
6,841
55,328
506
48
60
10,867
7,763
12,782
102,318
1,216
156
46
18,960
14,323
21,632
154,295
2,705
176
67
27,011
21,685
30,512
214,578
4,400
342
60
50,918
4 0,128
50,121
302,775
11,705
340
950
109,626
96,056
104,019
579,545
26,374
975
6,764
445,447
511,821
373,455
2,1 1 7 ,2 2 8
174,423
3,521
500
2 ,264,500
2,817,750
3 ,4 5 8 ,0 0 0
9,6 1 2 ,5 0 0
310,500
1,250
69
90
5,365
30
415
78
709
36
1,173
145
3 ,636
27
3,632
41
301
7,474
109
249
22,221
153,707
370,500
T o ta l a s s e t s ..............................................................
870,857
95,057
209,369
417 ,5 6 0
721,688
1 ,012,688
1,647,896
3,470,953
1 3,486,577
101,588,500
3,829
CORPORATION
T o ta l lo a n s , d is c o u n ts , a n d o v e r d r a fts .
Obligations, direct, o f the U . S. Governm ent. . .
Obligations fully guaranteed b y the U . S.
G overn m ent.....................................................................
Obligations o f States and political subdivisions.
Other bonds, stocks, and securities..........................
INSURANCE
154
796
DEPOSIT
ASSETS
N otes, bills, acceptances o f other banks, and
commercial paper bought in open m a rk et. . .
Loans to banks and trust companies—
On securities...................................................................
All o th e r............................................................................
Loans on securities, exclusive o f loans to ban ks:
T o brokers and dealers in N ew Y o r k .................
T o brokers and dealers elsew here........................
T o oth e rs...........................................................................
Real estate loans, mortgages, etc.— On farm land
— On other
real estate. . .
Loans secured by chattel m ortgages.......................
Reporting bank’s own acceptances..........................
All other lo a n s................................................................
O verdrafts.............................................................................
$100,000
to
250,000
FEDERAL
N um ber o f b a n k s.....................................................
$100,000
and
under
T o ta l d e p o s i t s .
e x c lu d in g
84,892
158 ,256
242 ,017
3 1 8 ,4 2 0
499 ,7 6 2
93 7 ,8 2 6
3,5 5 3 ,4 3 1
11,991,250
19,873
8,410
47
298
154
59,878
21,832
191
1,524
597
142,644
40,711
4 2 4 ,3 7 5
90 ,245
1,719
14,441
8,335
6 9 4 ,8 4 6
133 ,076
5,434
18,170
15,069
1 ,5 8 6 ,7 1 3
25 3 ,1 1 8
15,122
2 1,692
4 9,442
5 ,5 0 2 ,4 2 3
1,2 83,642
171,081
125,244
4 18 ,553
70,973,500
4 ,2 9 5 ,2 5 0
905.000
4,701
1,337
278 ,484
65,162
1,711
10,336
3 ,735
5,075
280
711
1,910
3 ,5 6 5
6,002
9 ,6 4 5
2 6,0 8 7
9 7 ,919
270.000
727,001
68,779
169,625
350,245
605 ,0 1 0
863 ,5 3 7
1,376 ,0 0 2
2,8 9 0 ,0 0 0
11,152,293
9 0 ,9 8 6 ,0 0 0
894
47
2,648
91
218
162
14
208
30
35
15
31
244
36
1,272
813
8 ,1 0 6
315
1 5,389
249
938
3,707
179
82,350
1
1,838
27
27
3 ,1 3 7
253
3 ,9 2 7
301
60
30,500
1,005
145
16
10,561
500
953
329
2,396
63
49
157
402
325
1,779
668
258
237
216
728
485
1,162
1,382
751
3 ,5 6 0
4 ,0 7 8
1,246
9,0 5 3
26,366
3,024
62,032
130,250
18,750
3 65 ,500
191
78
5
90
102
686
c a p ita l
170,384
351,753
609,954
868,557
1,389,373
2 ,9 2 9 ,3 7 4
11,340,512
91,531,500
20,140
3,552
1,446
28,793
3 ,0 3 6
4 6,011
11,243
5,495
75,671
2 0 ,806
9,951
93 ,9 8 4
27,813
12,587
1 66 ,738
53 ,8 5 4
21,925
3 2 3 ,1 2 5
119 ,019
46 ,1 7 4
1 ,1 5 4 ,5 3 7
608 ,837
188,341
4 ,9 1 0 ,0 0 0
3,5 1 8 ,7 5 0
701,500
9,143
409
1,040
2,890
4 ,9 8 6
9 ,3 6 9
15,098
5 1 ,383
1 91,797
926 ,750
334
48
105
168
320
378
908
1,878
2,553
870 ,857
95,057
209,369
4 1 7 ,5 6 0
721,688
1,012,688
1 ,6 4 7 ,8 9 6
3 ,4 7 0 ,9 5 3
1 3 ,4 8 6 ,5 7 7
6,011
101,588,500
BANKS
1 Because o f the small number of banks, the figures for this group are not necessarily typical of banks with deposits o f over $50,000,000.
2 Excludes 2 national banks in Alaska, 1 bank in Hawaii, 11 banks in the District of Columbia, and 1 other bank.
OPERATING
T o ta l lia b ilitie s ,
in c lu d in g
c a p ita l
a c c o u n t ..................................................................
69,462
8 5 ,277
3 0 ,0 6 4
11,462
OP
Capital stock and capital notes and debentures.
Su rplus....................................................................................
Undivided profits— n e t....................................................
Reserve for contingencies and undeclared
dividends.............................................. .............................
Retirement fund for preferred stock or capital
notes and debentures..................................................
179
2,551,000
LIABILITIES
T o ta l lia b ilit ie s ,
a c c o u n t ...............
39,717
AND
M ortgage bonds and participation certificates
ou tstanding......................................................................
Agreements to repurchase securities s o ld .............
Borrowed m o n e y ................................................................
Securities borrow ed..........................................................
Liability on account of acceptances........................
Interest, taxes and other expenses accrued and
u n p aid .................................................................................
Dividends declared but not yet p a y a b le ..............
Other liabilities...................................................................
260 ,255
361 ,1 3 6
74,899
4 ,8 0 7
8,07C
12,759
ASSETS
L IA B IL IT IE S
D em and deposits o f individuals, partnerships,
and corporations...........................................................
Tim e deposits o f individuals, partnerships, and
corporations.....................................................................
Public funds o f States and political subdivisions.
U. S. G overnm ent dep osits..........................................
Postal savings deposits...................................................
Deposits o f other b a n k s.................................................
Cash letters o f credit; certified, officers’ and
travelers’ checks ou tstan ding.................................
T a b le 127.
PERCENTAGE DISTRIBUTION OF ASSETS AND LIABILITIES, OPERATING INSURED COMMERCIAL BANKS
N ot M e m b e r s of T h e F e d e r a l R e s e r v e Sy s t e m , D e c e m b e r 3 1 , 1 9 3 5
B AN K S GROUPED B Y AM OUNT OF DEPOSITS
Banks with deposits of—
All
banks
ASSETS
N otes, bills, acceptances o f other banks, and
commercial paper bought in open m a rk et. . .
Loans to banks and trust companies—
2483
$1,000,000
to
2,000,000
$2,000,000
to
5 ,000,000
$5,000,000
Over
to
$50*000,000
50,000,000
(1)
671
321
123
.6
.7
.7
.4
.1
.1
.1
.1
.1
.2
779
1961
$750,000
to
1,000,000
445
4
(Ratios to total assets, in percent)
1.0
.6
.5
1
^
.1
.2
3
1
4.9
3.5
2.8
6.0
3.5
5.7
1
.1
5.1
3.6
.3
.2
6.0
2.4
.5
.2
8.3
.9
14.2
.8
1
10.2
28.2
.
.2
1.1
7.4
1.0
6.7
1.7
6.5
11.7
2.9
1
12^9
3.2
14.7
4.7
9.6
11.4
1.9
13.6
.7
17.7
7.9
4.0
.1
16.2
9.0
2.9
18.9
6.0
6.2
.2
16.5
13.9
13.9
12.2
.1
_
.
1.2
!
!
4.4
.5
2.6
37.1
45.3
40 .7
38.0
37.7
35.7
36.9
36.3
35.9
36.9
9.8
3.2
5.3
6.5
7.2
7.8
8.4
10.8
12.2
21.8
5.0
7.1
12.1
4.2
5.3
3.1
5.2
6.7
7.2
5.5
7.7
9.5
5.4
7.5
12.2
5.1
8.0
13.4
4.9
7.5
14.2
4 .9
5.7
15.2
4 .7
6.0
13.1
4.9
11.7
6.2
T o t a l lo a n s a n d s e c u r i t i e s .............................
71.1
61.1
65.1
67.2
70.0
70.0
71.9
72.9
71.9
81.5
3.2
2.8
3.0
16.7
.8
.1
3.3
3 .8
2.8
15.7
1.3
2.2
2.8
3.4
9.5
.3
C^ustorners* liability on Account of" scccptsnccs
Banking house, furniture and fixtures....................
Other real estate ow n e d .................................................
Coin and currency.............................................................
Balances with other b a n k s...........................................
Cash items in process of collection
..
3.0
2.6
3.0
18.9
.7
2.9
1.9
3.1
24.5
.2
2.6
2.0
3.1
21.3
.4
2.7
2.2
3.1
21.2
.4
.1
3.1
2.4
3.0
18.4
.7
4.3
3.3
4.1
27.2
2.9
1.9
3.3
26.3
.5
.2
.6
.3
.5
.6
1.1
.3
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
Acceptances of other banks and bills sold with
Other a sse ts..........................................................................
.7
T o ta l a s s e t s ..............................................................
100.0
CORPORATION
T o t a l lo a n s , d is c o u n t s , a n d o v e r d r a fts .
Obligations, direct, o f the U . S. G overnm ent. . .
Obligations fully guaranteed by the U . S.
G overn m en t.....................................................................
Obligations o f States and political subdivisions.
Other bonds, stocks, and securities..........................
INSURANCE
To o th e rs...........................................................................
Real estate loans, mortgages, etc.-— On farm land
-—On other
real estate. . .
Loans secured by chattel m ortgages.......................
jxeporung Dame s own acccpiauccs..........................
All other loan s.....................................................................
936
$500,000
to
750,000
$250,000
to
500,000
DEPOSIT
Loans on securities, exclusive o f loans to banks:
27723
$100,000
to
250,000
FEDERAL
Num ber of b a n k s.....................................................
$100,000
and
under
T o ta l d e p o s its .
in c lu d in g
c a p ita l
3 3 .6
3 1.3
30.3
27.0
26.3
11.8
4 1 .9
8.9
42.2
.2
1.1
.2
3 8.7
9.0
.3
1.4
.5
1.1
.9
40 .8
9.5
1.4
.9
3.1
69.9
4.2
.9
1.4
.9
45 .7
7.3
.4
.7
1.5
.2
8.1
.4
.9
1.5
1.0
.6
.5
.5
.4
.6
.5
.7
.7
.3
83.5
81.3
83.8
83.9
85.2
83.5
83.3
8 2.7
89.6
.1
.1
.1
.2
.2
.1
.3 '
’ '.i ’
' .2 '
’ .2 '
.5 ‘
‘ '.6~
.1
.1
.1
.1
.1
.2
.1
"
a
.1
’ ” '3 ’
84.4
72.6
81.3
84.0
84.4
85.8
84.3
84.4
84.1
9.8
3.4
1.3
22.0
13.9
2.9
1.4
11.3
10.6
9.4
10.1
1.4
2.9
1.4
3.2
1.3
9.3
3.4
1.3
4.5
1.4
1.0
.9
1.5
.1
.2
.1
100.0
100.0
100.0
4.3
1.1
100.0
100.0
2.6
100.0
100.0
2.8
1.1
100.0
8.6
.1
’ .3
4.9
3.5
.7
100.0
BANKS
1 Because of the small numbers of banks, figures for this group are not necessarily typical of those for banks with deposits o f over $50,000,000.
2 Excludes 2 national banks in Alaska, 1 bank in Hawaii, 11 banks in the District of Colum bia, and 1 other bank.
.2
' .5’
' ' ’2 .5 ’
OPERATING
T o ta l lia b ilitie s ,
a c c o u n t ...............
3 7.8
34.2
9 .8
OF
Capital stock and capital notes and debentures.
Su rplus....................................................................................
Undivided profits— n e t...................................................
Reserve for contingencies and undeclared
dividends...........................................................................
Retirement fund for preferred stock or capital
notes and debentures..................................................
8.4
28.7
10.5
LIABILITIES
T o ta l lia b ilitie s ,
e x c lu d in g
c a p ita l
a c c o u n t ................................................................
8.6
.6
21.1
AND
M ortgage bonds and participation certificates
ou tstan ding......................................................................
Agreements to repurchase securities s o ld .............
Borrowed m o n e y ................................................................
Securities borrow ed..........................................................
Liability on account o f acceptances........................
Interest, taxes and other expenses accrued and
u n p aid ................................................................................
Dividends declared but not yet p a y a b le ...............
Other liabilities...................................................................
29.9
4 1.4
ASSETS
L IA B IL IT IE S
D em and deposits o f individuals, partnerships,
and corporations...........................................................
Tim e deposits of individuals, partnerships, and
corporations.....................................................................
Public funds o f States and political subdivisions
U . S. Governm ent d e p osits........................................ .
Postal savings deposits..................................................
D eposits o f other b a n k s...............................................
Cash letters o f credit; certified, officers’ and
travelers’ checks ou tstan ding.................................
00
EXAMINERS’ ANALYSES OF INSURED BANKS
Table 128,
E X A M I N E R S ’ A N A L Y S IS OF C A P IT A L , AS SE T S, AND L IA B IL IT IE S OF O P E R A TIN G IN S U R E D CO M M ER C IA L B A N K S
n o t M e m b e r s o f t h e F e d e r a l R e s e r v e S y s t e m , L a t e s t E x a m i n a t i o n i n 1935
B A N K S GROUPED B Y AMOUNT OF DEPOSITS AN D B Y STATES
(Am ounts in thousands o f dollars)
N et
deductions
N et sound
capital
N et sound
private
capital
N et
sound
assets
Total
deposits
Total
liabilities
(exclusive
o f capital
account)
DEPOSIT
Private
capital
(book
value)
FEDERAL
Capital account
Number
of
banks
1,133,409
203,718
929,691
266,252
867,157
663,439
6,2 0 4 ,5 9 5
5 ,230,618
5,337,438
$100,000 and u n d er...................................................
$100,000 to $ 2 5 0 ,0 0 0 ................................................
$250,000 to $ 5 0 0 ,0 0 0 ................................................
930
2,469
1,959
24,047
97,338
130,784
3,705
15,692
22,292
20,342
81,646
108,492
3,896
12,128
17,784
20,151
85,210
113,000
16,446
69,518
90 ,7 0 8
81,709
4 80,380
750,238
60,108
389,697
629,344
61,558
395,170
637,238
$500,000 to $ 7 5 0 ,0 0 0 ................................................
$750,000 to $ 1 ,0 0 0 ,0 0 0 ...........................................
$1,000 000 to $ 2 ,0 0 0 ,0 0 0 .......................................
778
446
671
88,244
65,251
181,876
16,059
11,238
35,854
72,185
54,013
146,022
13,871
12,594
41,532
74,373
52,657
140,344
58,314
41,419
104,490
514,774
414,833
1,012,658
433,455
358,218
856,373
440,401
362,176
872,314
$ 2 ,000,000 to $ 5,000,000 ........................................
$ 5 ,000,000 to $ 5 0 ,0 0 0 ,0 0 0 .....................................
Over $ 5 0 ,0 0 0 ,0 0 0 ........................................................
N o t classified2 .............................................................
322
128
4
27
184,239
298,687
60,632
2,311
30,989
49,952
17,692
245
153,250
248,735
42,940
2,066
51,956
91,462
20,510
519
132,283
207,225
40,122
1,792
101,294
157,273
22,430
1,547
1,011,669
1,538,207
392,565
7,562
861,198
1,286,800
349,771
5,654
879,386
1,330,982
352,443
5,770
A la b a m a ..........................................................................
A rizo n a............................................................................
A rkansas.........................................................................
C alifornia........................................................................
C olo rado..........................................................................
120
5
156
106
55
8,453
1,492
8,787
61,047
3,050
1,068
25
2,066
12,755
535
7,385
1,467
6,721
48,292
2,515
797
1,293
4,532
651
7,656
1,612
7,494
56,515
2,399
6,588
1,587
5,428
43,760
1,864
39,066
14,995
43,6 7 8
443,372
22,091
30,312
13,292
35,907
385,211
19,676
31,410
13,383
36,184
386,857
19,692
C onnecticut...................................................................
D elaw are.........................................................................
District o f Columbia®
F lo rid a .............................................................................
G eorgia............................................................................
45
24
11
94
176
21,241
8,970
3,425
325
17,816
8,645
4,840
1,134
16,401
7,836
12,976
7,511
130,195
47,724
112,494
39,532
113,794
39,888
8,228
14,739
597
1,704
7,631
13,035
290
1,397
7,938
13,342
7,341
11,638
51,221
70,286
42,973
53,531
43,283
56,944
Id a h o .................................................................................
Illinois..............................................................................
In d ia n a ............................................................................
I o w a ..................................................................................
K a n sa s.............................................................................
24
500
367
438
254
1,249
51,679
43,993
26,107
13,096
210
4,146
7,676
2,450
2,358
1,039
47,533
36,317
23,657
10,738
94
2,107
10,781
1,291
1,214
1,155
49,572
33,212
24,816
11,882
945
45 ,4 2 6
25,536
22,366
9,524
9,675
323,633
287,892
224,811
93,571
8,519
272,554
245,968
199,652
81,488
8,520
274,061
254,680
199,995
81,689
B a n k s w ith d e p o sits o f— 1
S ta te
120
CORPORATION
7,734
U n ite d S ta te s — t o t a l ......................................................
INSURANCE
Total
R FC
capital
4 ,318 1
1,704 |
4 ,156
4,367
5,764
22,399
14,449
3,408
16,151
13,820
18,614
9,666
482
12,909
11,195
149,209
80,300
32,498
109,638
110,138
125,862
65,053
29,030
91,707
95,271
126,810
65,851
29,090
93,487
96,318
M ic h ig a n ........................................................................
M inneso ta......................................................................
M ississippi.....................................................................
M isso u ri..........................................................................
M o n ta n a .........................................................................
274
429
171
508
52
30,818
19,316
16,191
28,557
3,055
8,041
3,227
5,817
3,513
660
22,777
16,089
10,374
25,044
2,395
9,957
779
1,147
4,258
337
20,861
18,537
15,044
24,299
2,718
12,820
15,310
9,227
20,786
2,058
210,558
155,459
105,636
206,348
18,542
181,187
136,665
88,835
178,607
15,770
189,697
136,922
90,592
182,049
15,824
N e b ra sk a ........................................................................
N evada3 ..........................................................................
N ew Hampshire3 .......................................................
N ew Jersey....................................................................
N ew M e x ic o .................................................................
230
3
3
100
14
8,822
1,879
6,943
392
8,430
6,551
60,908
52,306
52,478
75,636
739
14,561
208
61,075
531
48,454
94
27,182
645
12,621
437
346,160
7,316
308,508
6,670
318,978
6,671
N ew Y o r k ......................................................................
N orth C arolina............................................................
North D a k o ta ..............................................................
O h io ..................................................................................
O klahom a...........................................................
190
182
126
369
172
146,967
21,755
4,873
60,615
5,377
28,065
3,530
1,579
18,913
118,902
18,225
3,294
41,702
5,377
46,372
139
2,268
11,718
296
100,595
21,616
2,605
48,897
5,081
72,530
18,086
1,026
29,984
5,081
674,079
138,132
19,120
328,426
43,448
554,128
112,610
16,425
276,888
38,128
573,484
116,516
16,515
279,529
38,367
Oregon .............................................................................
P ennsylvania................................................................
Rhode Island3 .............................................................
South C arolina............................................................
South D a k o ta ..............................................................
43
298
2
88
123
3,320
164,087
944
13,429
2,376
150,658
234
44,747
3,086
119,340
2,142
105,911
28,176
633,837
25,003
494,643
25,090
514,497
4,905
5,057
712
982
4,193
4,075
424
1,254
4,481
3,803
3,769
2,821
41,373
24,267
36,717
20,423
36,892
20,464
Tennessee.......................................................................
T e x a s ................................................................................
U t a h .................................................................................
V e rm o n t.......................................................................... !
V irgin ia...........................................................................
238
299
27
33
166
15,603
24.739
4,137
20,279
24,255
3,212
6,678
750
7,060
4,012
12,391
18,061
3,387
13,219
20,243
4,563
4,054
154
10,896
4,651
11,040
20,685
3,983
9,383
19,604
7,828
14,007
3,233
2,323
15,592
94,503
112,450
27,421
60,527
124,716
82,427
90,728
23.201
50,414
99,000
83,463
91,765
23,438
51,144
105,112
W a sh in g to n ...................................................................
W est V irgin ia...............................................................
W isco n sin .......................................................................
W y o m in g ........................................................................
88
72
470
25
4,957
13,430
45,556
1,790
1,181
2,063
13,276
545
3,776
11,367
32,280
1,245
215
4 ,898
10,533
372
4,742
8,532
35,023
1,418
3,561
6,469
21,747
873
30,971
61,670
268,806
12,528
26,118
52,796
232,563
11,059
26,229
53,138
233,783
11,110
d e p o s i t s as o f D ecem ber 31, 1935.
i n c lu d e s chiefly banks reorganized subsequent to latest examination.
8Figures included in totals for the U nited States.
BANKS
22,932
11,370
4,638
17,276
16,959
INSURED
3,785
4,783
2,926
3,242
2,625
OF
26,717
16,153
7,564
20,518
19,584
ANALYSES
283
114
16
111
40
EXAM INERS'
K e n tu c k y .......................................................................
Lo uisia na........................................................................
M a in e ...............................................................................
M a r y la n d .......................................................................
M assach usetts.............................................................
00
00
Table 129.
E x a m in e r s ’ A
n a l y s is
OF ASSETS OF OPERATING INSURED COMMERCIAL BANKS NOT MEMBERS OF THE FEDERAL RESERVE
Sy s t e m , L a t e st E x a m in a t io n
00
1935
in
BANKS GROUPED BY AMOUNT OF DEPOSITS AND BY STATES
(Amounts in thousands of dollars)
Estim ated losses and
doubtful items
B ook
value
Total
Assets
not
shown
on
books
N et sound value
Total
Slow
Total
Losses
N e t sound value
Total
Slow
N ot
criticized
7,734 6 ,4 7 0 ,8 4 7 306,087 277,043 29,044 39,835 6,204,595 920,751 5,283,844 2,522,561 164,706 139,640 25,066 2,357,855 641,043 1,716,812
2,001
4,355
15,542
23,106
3,323
12,308
19,414
1,032
3,234
3,692
459
3,414
5,322
14,401
66,149
97,990
67,308
414,231
652,248
40,705
207,104
305,801
2,882
9,605
13,129
6,760
9,780
881
2,845
3,349
37,823
197,499
292,672
10,559
49,571
72,557
27,264
147,928
220,115
$500 ,00 0 to $ 7 5 0 ,0 0 0 .........
$750 ,00 0 to $ 1 ,0 0 0 ,0 0 0 . . .
$ 1 ,0 0 0 ,0 0 0 to $ 2 ,0 0 0 ,0 0 0 .
778
528,645
446
4 27,427
671 1 ,054,190
17,509
15,347
48,730
15,016
13,586
44,022
2,493
1,761
4,708
3,638
514,774 75,339
414,833 57,800
2,753
7,198 1,012,658 154,494
439,435
357,033
858,164
208,793
161,112
411,540
9,195
7,376
25,149
7,087
5,756
20,971
2,108
1,620
4,178
199,598 55,652
153,736 40,582
386,391 107,272
143,946
113,154
279,119
$ 2 ,0 0 0 ,0 0 0 to $ 5 ,0 0 0 ,0 0 0 .
$ 5 ,0 0 0 ,0 0 0 to $ 5 0 ,0 0 0 ,0 0 0
Over $ 5 0 ,0 0 0 ,0 0 0 .................
N o t classified3 .......................
322 1,063,625 57,926
128 1,629,669 101,339
4
413,075 21,714
27
8,081
519
53,404
94,187
21,264
519
4,522
7,152
450
853,529
5,970 1,011,669 158,140
9,877 1,538,207 252,882 1,285,325
349,009
1,204 392,565 43,556
7,562
7,562
405,749
618,281
161,167
2,309
31,607
52,603
12,641
519
27,436
47,035
12,295
519
4,171
5,568
346
374,142 109,043
565,678 162,647
148,526 33,160
1,790
265,099
403,031
115,366
1,790
S ta te
A la b a m a .
A rizo n a. . .
Arkan sa s. .
C aliforn ia.
C olo rad o. .
120
5
156
106
55
45
24
3 9,863
14,875
44,971
447,904
22,742
939
84
1,432
7,149
823
827
81
1,119
6,540
539
3
313
609
284
142
204
139
2,617
172
39,066
14,995
43,678
443,372
22,091
5,599
1,671
6,276
48,281
2,306
33,467
13,324
37,402
395,091
19,785
19,833
3,763
18,154
181,666
8,048
491
49
1,049
5,143
626
397
46
747
4,630
352
94
3
302
513
274
19,342
3,714
17,105
176,523
7,422
3,667
1,072
5,167
35,577
1,887
15,675
2,642
11,938
140,946
5,535
5,286
1,425
4,562
1,072
724
353
446
291
130,195
47,724
28,675
5,273
101,520
42,451
64,413
19,148
4,203
738
3,568
385
635
353
60,210
18,410
22,555
4,499
37,655
13,911
703
1,660
546
1,494
157
166
413
263
51,221
70,286
4,512
13,812
46,709
56,474
12,241
34,198
291
933
157
767
134
166
11,950
33,265
2,332
8,755
9,618
24,510
151
5,299
12,028
2,296
2,162
126
4 ,445
11,270
1,544
1,368
25
854
758
752
794
57
3,192
1,247
1,005
948
9,675
323,633
287,892
224,811
93,571
502
38,328
39,910
19,514
5,531
9,173
285,305
247,982
205,297
88,040
2,765
100,651
102,619
82,516
33,132
103
3,487
5,991
1,327
1,359
84
2,682
5,377
678
765
19
805
614
649
594
2,662
97,164
96,628
81,189
31,773
379
30,466
29,602
18,099
4,011
2,283
66,698
67,026
63,090
27,762
C onnecticut....................
D elaw are...........................
District o f Colum bia4.
Florida...............................
G eo rg ia ..............................
94
176
135,035
48,858
66,828
51,511
71,683
I d a h o ...
Illin o is. .
In d ia n a .
Iowa
K ansas. .
24
500
367
438
254
9,769
325,740
298,673
226,102
94,785
11
112
81,709
480,380
750,238
CORPORATION
85,605
4 92,508
768,022
930
2,469
1,959
INSURANCE
B a n k s w ith d e p o sits o f — 5
$100 ,00 0 and under............
$100 ,00 0 to $ 2 5 0 ,0 0 0 . . . .
$ 250,000 to $ 5 0 0 ,0 0 0 -------
,
criticized
Book
value
DEPOSIT
O
U n ite d S t a t e s — t o t a l ...............
Estim ated losses and
doubtful items
FEDERAL
Loans, discounts, and overdrafts
Total assets
N um
ber
of
banks
4,546
1,723
3,871
4,957
5,710
683
308
358
654
860
911
327
73
1,244
806
149,209
80,300
32,498
109,638
110,138
23,985
16,555
8,954
18,928
20,842
125,224
63,745
23,544
90,710
89,296
70,372
30,890
18,939
48,478
54,363
2,879
829
2,333
3,099
2,769
2,501
658
2,106
2,458
2,006
378|
171|
227
641
763
67,493
30,061
16,606
45,379
51,594
19,256
10,925
7,666
15,865
14,882
48,237
19,136
8,940
29,514
36,712
M ich igan ..........................................
M in n eso ta .......................................
M ississip p i......................................
M issou ri...........................................
M o n t a n a ..........................................
274
429
171
508
52
220,515
156,238
106,783
210,606
18,879
10,334
2,704
1,619
6,058
454
8,776
1,304
1,497
4,646
276
1,558
1,400
122
1,412
178
377
1,925
472
1,800
117
210,558
155,459
105,636
206,348
18,542
22,275
11,983
21,527
23,059
1,751
188,283
143,476
84,109
183,289
16,791
63,864
53,826
35,901
83,566
5,711
4,006
1,718
1,058
4,178
326
2,853
554
961
2,870
171
1,153
1,164
97
1,308
155
59,858
52,108
34,843
79,388
5,385
12,143
7,460
11,788
18,720
987
47,715
44,648
23,055
60,668
4,398
N ebrask a.........................................
61,300
4,352
9,412
394,614
7,410
773
600
173
381
60,908
3,851
57,057
21,331
415
260
155
20,916
3,315
17,601
N ew Jersey.....................................
N ew M e x ic o ..................................
230
3
3
100
14
50,133
137
48,191
105
1,942
32
1,679
43
346,160
7,316
59,750
698
286,410
6,618
155,309
2,371
27,473
94
25,565
71
1,908
23
127,836
2,277
38,448
585
89,388
1,692
N ew Y o r k .......................................
N orth C a ro lin a ............................ !
N orth D a k o t a .............................. 1
O hio....................................................
O k lah om a .......................................
190
182
126
369
172
720,451
138,271
21,388
340,144
43,744
52,662
1,724
2,484
13,327
596
49,670
1,464
1,725
12,597
265
2,992
260
759
730
331
6,290
1,585
216
1,609
300
674,079
138,132
19,120
328,426
43,448
73,680
10,587
3,745
65,807
2,250
600,399
127,545
15,375
262,619
41,198
298,702
47,418
8,866
143,237
12,303
27,971
1,145
1,712
8,572
308
25,415
903
1,074
7,875
137
2,556
242
638
697
171
270,731
46,273
7,154
134,665
11,995
54,733
8,006
2,391
45,402
1,527
215,998
38,267
4,763
89,263
10,468
Oregon..............................................
P ennsylvania................................
Rhode Island 4..............................
South C arolina.............................
South D a k o t a ...............................
43
298
2
88
123
28,410
678,584
7,069
41,797
25,521
610
49,032
424
47,645
186
1,387
376
4,285
3,996
28,176
633,837 141,629
24,180
492,208
9,229
267,115
562
20,257
393
19,188
169
1,069
8,667
246,858
3,123
73,467
5,544
173,391
685
1,358
663
998
22
360
261
104
41,373
24,267
1,798
3,327
39,575
20,940
14,408
10,174
213
1,030
192
717
21
313
14,195
9,144
866
2,099
13,329
7,045
T ennessee........................................
T e x a s.................................................
U ta h ..................................................
V e rm o n t..........................................
V irgin ia............................................
238
299
27
33
166
99,066
116,504
27,575
71,423
129,367
4,787
4,459
466
11,141
5,020
4,362
3,834
417
10,407
4,373
425
625
49
734
647
224
405
312
245
369
94,503
112,450
27,421
60,527
124,716
22,626
16,024
3,356
21,479
23,634
71,877
96,426
24,065
39,048
101,082
46,646
43,033
9,770
37,426
70,336
2,673
3,024
215
5,553
3,546
2,266
2,480
172
4,864
2,903
407
544
43
689
643
43,973
40,009
9,555
31,873
66,790
16,876
12,471
2,265
17,766
17,692
27,097
27,538
7,290
14,107
49,098
W a sh in g to n ....................................
W e st Virginia................................ i
W isco n sin ........................................Ii
W y o m in g ......................................... !
88
72
470
25
31,186
66,568
279,339
12,900
515
5,040
11,858
451
392
4,414
9,940
257
123
626
1,918
194
300
142
1,325
79
30,971
61,670
268,806
12,528
3,010
13,098
42,993
2,329
27,961
48,572
225,813
10,199
10,575
29,688
95,716
5,513
217
3,019
6,172
308
104
2,398
4,336
140
113
621
1,836 ;
168 j
1
10,358
26,669
89,544
5,205
2,427
9,854
31,229
2,169
7,931
16,815
58,315
3,036
185
banks
5,229
2,031
4,229
5,611
6,570
insured
153,527
82,004
36,654
114,005
115,902
of
283
114
16
111
40
e x a m i n e r s ’ a n a ly s e s
K en tu c k y .........................................
Lo u isia n a ........................................
M a in e ................................................
M a r y la n d ........................................
M assach u setts..............................
Table 129.
E X A M I N E R S ’ A N A L Y S IS OP A S S E T S OF O P E R A T IN G IN S U R E D
S y s te m , L a t e s t
C O M M E R C IA L B A N K S N O T
E x a m in a tio n
in
M E M B E R S OF T H E F E D E R A L R E S E R V E
00
1935— Continued
B A N K S G R O U P ED B Y AM O U N T OF D E P O S IT S A N D B Y S T A T E S
(Am ounts in thousands of dollars)
5
§ «2
Losses
j
13,789
116,460
216,755
419
2,820
5,642
Slow
N ot
criticized
Total
Losses
P
409 2,038,174
7,734 2,123,479 85,305 84,896
930
2,469
1,959
Total
Book
value
44,636 1,993,538 1,824,807
56,076
52,507
—
3
0 P
P
N et sound value
Total
Slow
N ot
criticized
3,569 1,768,731 235,072 1,533,659
415
2,782
5,595
4
38
47
13,370
113,640
211,113
485
3,291
5,713
12,885
110,349
205,400
31,111
168,944
245,466
1,054
3,117
4,335
907
2,766
4,039
147
351
296
30,057
165,827
241,131
3,357
13,287
19,720
26,700
152,540
221,411
778
446
671
5,243
5,301
164,207
5,399
5,420
141,487
353,157 15,410 15,260
58
21
150
158,906
136,067
337,747
3,632
3,944
10,445
155,274
132,123
327,302
155,645
124,828
289,493
3,013
2,551
8,171
2,686
2,431
7,791
327
120
380
152,632
122,277
281,322
16,055
13,274
36,777
136,577
109,003
244,545
$ 2 ,0 0 0 ,0 0 0 to $5,00 0 ,0 0 0 . .
$ 5 ,0 0 0 ,0 0 0 to $ 5 0 ,0 0 0 ,0 0 0 .
Over $ 5 0 ,0 0 0 ,0 0 0 ....................
N o t classified3..........................
322
128
4
27
376,194 18,417 18,390
563,888 27,176 27,112
4,700
175,681
4,700
1,861
27
64
357,777
536,712
170,981
1,861
6,594
10,532
351,183
526,180
170,981
1,861
281,682
447,500
76,227
3,911
7,902
21,560
4,373
7,578
20,040
4,269
324
1,520
104
273,780
425,940
71,854
3,911
42,503
79,703
10,396
231,277
346,237
61,458
3,911
120
7,138
4,994
9,291
196,568
5,515
298
290
8
220
777
125
220
777
122
6,840
4,994
9,071
195,791
5,390
891
19
112
143
144
5,949
4,975
8,959
195,648
5,246
12,892
6,118
17,526
69,670
9,179
150
35
163
1,229
72
140
35
152
1,133
65
10
5
156
106
55
12,742
6,083
17,363
68,441
9,107
1,041
580
997
12,561
275
11,701
5,503
16,366
55,880
8,832
45
24
34,677
18,352
560
585
560
585
34,117
17,767
190
1
33,927
17,766
35,945
11,358
523
102
434
102
89
35,422
11,256
5,930
773
29,492
10,483
94
19,865
12,123
246
393
229
393
19,619
11,730
1,136
1,627
18,483
10,103
19,405
25,362
166
334
160
334 1
6
19,239
25,028
1,044
3,430
18,195
21,598
3,796
111,877
91,014
66,477
25,981
10
451
2,503
438
304
10
451
2,503
437
284
3,786
111,426
88 ,5 1 1 1
66,039!
25,677:
9
439
1,802
116
106
3,777
110,987
86,709
65,923
25,571
3,208
113,212
105,040
77,109
35,672
38
1,361
3,534
531
499
6
49
144
102
180
3,170
111,851
101,506
76,578
35,173
114
7,423
8,506
1,299
1,414
3,056
104.428
93,000
75,279
33,759
S ta te s
A la b a m a .
A rizo n a. . .
Arkansas. .
C aliforn ia.
C olo rad o. .
C on necticut..................
D elaw are........................
D istrict o f C olu m b ia4
Florida.............................
G eorgia ...........................
176
Id a h o . .
Illinois. .
In d ia n a .
I o w a .. . .
K a n s a s ..
24
500
367
438
254
11
!
3
17
1
20
32
1,312
3,390
429
319
11
96
7
CORPORATION
$500 ,00 0 to $ 7 5 0 ,0 0 0 ...........
$750 ,00 0 to $1 ,0 0 0 ,0 0 0 . . . .
$ 1 ,0 0 0 ,0 0 0 to $ 2 ,0 0 0 ,0 0 0 . .
INSURANCE
B a n k s w ith d e p o sits o f $100 ,00 0 and u n d e r.. . .
$100 ,00 0 to $ 2 5 0 ,0 0 0 . .
$250 ,00 0 to $500,000 . .
Total
N et sound value
Estimated losses and
doubtful items
DEPOSIT
U n ite d S t a t e s — t o t a l ....................................
B ook
value
Estimated losses
and doubtful items
FEDERAL
Other assets
Securities
N um
ber
of
banks
283
114
16
M ic h ig a n .. .
M in n e so ta ..
M ississipp i.
M issou ri. . .
M o n ta n a . . .
41,347!
19,610
10,558
42,808
3 7 ,2 5 5 j
1,104
487
1,523
1,730
2,988
1,104
362
1,521
1,730
2,988
274
429
171
508
52
86 ,1 7 1 1 3,270
472
59,753
33,948:
278
55,339
450
5,495
55
N ebraska..............
Nevada 4...............
N ew H am pshire4
New Jersey..........
N ew M e x ic o . . . .
230
3
3
100
14
14,129
N ew Y o r k ..........
N orth C arolin a.
N orth D a k o t a . .
O hio......................
O klah om a..........
41,808
31,504
7,157
22,719
24,284
1,246
715
373
782
813
941
703
244
769
716
3,207
456
253
445
45
82,901
59.281
33,670
54,889
5,440
1,853
152
7,797
440
50
81,048
59,129
25,873
54,449
5,390
70,480
42,659
36,934
71,701
7,673
3,058
514
283
1,430
73
2,716
294
283
1,331
60
183
13,936
68
13,868
25,840
165
157
125,573 13,386 13,386
2,195,
2
2
112,187
2,193
419
7
111,768
2,186
113,732
2,844
9,274
41
9,240
32
190
182
126
369
172
254,602 15,919 15,919
49,086
99
99
5,683!
229
229
110,633
2,002
2,002
13,234!
130
80
50
238,683
48,987
5,454
108,631
13,104
832
107
117
2,413
458
237,851
48,880
5,337
106,218
12,646
167,147
41,767
6,839
86,274
18,207
8,772
480
543
2,753
158
Oregon.................
Pennsylvania. .
Rhode Island 4.
South Carolina.
South D a k o t a ..
43
298
9,751!
4
4
248,905 21,187 21,160
27
9,747
227,718
80
7,024
9,667
220,694
9,430
162,564
123
11,036
7,677
280
116
280
106
10,756
7,561
75
19
10,681
7,542
Tennessee.
T exas..........
U t a h ...........
V e rm o n t. .
Virginia . . .
238
299
27
33
166
19,288
27,144
11,340
21,979
25,192
838
614
86
3,849
794
833
610
3,847
794
18,450
26,530
11,254
18,130
24,398
2,314
191
453
235
1,339
W ash in gton . .
W est Virginia.
W isconsin. . . .
W y o m in g . . . .
88
72
470
25
11,361
15,346
113,142
2,577
174
788
4,430
49
174
788
4,430
43
11,187
14,558
108,712
2,528
170
1,140
1,806
111
40
2
88
193
86
1 Assets not shown on books are not allocated to types of assets.
* Deposits as of December 31, 1935.
3 Includes chiefly banks reorganized subsequent to latest examination.
4 Figures included in totals for the United States.
8
305 j
12
129
13
97
40,562
30,789
6,784
21,937
23,471
3,216
1,943
1,004
2,719
4,006
37,346
28,846
5,780
19,218
19,465
342
220
67,422
42,145
36,651
70,271
7,600
8,279
4,371
1,942
3,899
714
59,143
37,774
34,709
66,372
25,675
468
25,207
34
9
104,458
2,803
20,883
106
83,575
2,697
8,336
462
422
2,720
48
436
18
121
33
110
158,375
41,287
6,296
83,521
18,049
18,115
2,474
1,237
17,992
265
140,260
38,813
5,059
65,529
17,784
44
7,588
27
7,297
17
291
9,386
154,976
793
61,138
8,593
93,838
16,353
7,670
192
212
191
175
16,161
7,458
857
1,209
15,304
6,249
16,136
26,339
10,801
17,895
23,059
33,132
46,327
6,465
12,018
33,839
1,276
821
165
1,739
680
1,263
744
159
1,696
676
31,856
45,506!
6,300
10,279;
33,159
3,436
3,362
638
3,478
4,603
28,420
42,144
5,662
6,801
28,556
11,017
13,418
106,006
2,520
9,250
21,534
70,481
4,810
124
1,233
1,256
94
114
1,228
1,174
74
9 ,126
20,30l!
69,225
4,716
413
2,104
9,958
152
8,713
18,197
59,267
4,564
6,886
BANKS
38,730
15,436
8,751
40,734
32,313
INSURED
1,513
3,687
284
344
1,954
2
OF
40,243
19,123
9,035
41,078
34,267
125
E X A M IN E R S ’ ANALYSES
K en tu c k y ...........
L ouisiana...........
M a in e ..................
M a ry la n d ...........
M assachusetts .
00
--4
Table 130. E x a m in e r s ' ANALYSIS OF ASSETS OF OPERATING INSURED COMMERCIAL BANKS NOT MEMBERS OF THE FEDERAL RESERVE
Sy s t e m , L a t e st E x a m in a t io n in 1 9 3 5
B AN KS GROUPED B Y AMOUNT OF DEPOSITS AND B Y STATES
(Percent of book value)
Loans, discounts, and overdrafts
T otal assets
Estim ated losses and
doubtful items
Total
Losses
D oubt
ful
Assets
not
shown
on
books
value
N et sound value
Total
Slow
N ot
criticiz
ed
Book
value
Total
Losses
D ou bt
ful
N e t sound value
Total
Slow
N ot
criticiz
ed
4.3
.4
.6
95.9
14.2
81.7
100.0
6.5
5.5
1.0
93.5
25.4
68.1
930
2,469
1,959
100.0
100.0
100.0
5.1
3.2
3.0
3.9
2.5
2.5
1.2
.7
.5
.5
.7
.7
95.4
97.5
97.7
16.8
13.4
12.8
78.6
84.1
84.9
100.0
100.0
100.0
7.1
4.6
4.3
4 .9
3.2
3.2
2 2
1.4
1.1
92.9
95.4
95.7
25.9
23.9
23.7
67.0
71.5
72.0
$500 ,00 0 to $750 ,00 0 .............
$ 7 50 ,00 0 to $ 1 ,0 0 0 ,0 0 0
$ 1 ,0 0 0 ,0 0 0 to $ 2 ,0 0 0 ,0 0 0 . . .
778
446
671
100.0
100.0
100.0
3.3
3 .6
4 .6
2.8
3.2
4.2
.5
.4
.4
.7
.6
.7
97 4
97.0
96.1
14.3
13.5
14.7
83.1
83.5
81.4
100.0
100 ft
100.0
4.4
4.6
6.1
3.4
3.6
5.1
1.0
1.0
1.0
95.6
95.4
93.9
26.7
25.2
26.1
68.9
70.2
67.8
$ 2 ,0 0 0 ,0 0 0 to $ 5 ,0 0 0 ,0 0 0 . . .
$ 5 ,0 0 0 ,0 0 0 to $ 5 0 ,0 0 0 ,0 0 0 . .
Over $ 5 0 ,0 0 0 ,0 0 0 .....................
JNfot classified ^
322
128
4
27
100.0
100.0
100.0
100.0
5.4
6.2
5.3
6.4
5.0
5.8
5.2
6.4
.4
.4
.1
.5
.6
.3
95.1
94.4
95.0
93.6
14.9
15.5
10.5
80.2
78.9
84.5
93.6
100.0
100.0
100.0
100.0
7.8
8.5
7.8
22.5
6.8
7.6
7.6
22.5
1.0
.9
.2
92.2
91.5
92.2
77.5
26.9
26.3
20.6
65.3
65.2
71.6
77.5
A la b a m a ........................................
A r izo n a ..........................................
A rkansas........................................
C aliforn ia.....................................
C o lo ra d o ........................................
120
5
156
106
55
100.0
100.0
100.0
100.0
100.0
2.4
.6
3.2
1.6
3.6
2.1
.5
2.5
1.5
2.4
.3
.1
.7
.1
1.2
.4
1.4
.3
.6
.7
98.0
100.8
97.1
99.0
97.1
14.0
11.2
13.9
10.8
10.1
84.0
89.6
83.2
88.2
87.0
100.0
100.0
100.0
100.0
100.0
2.5
1.3
5.8
2.8
7.8
2.0
1.2
4.1
2.5
4 .4
.5
.1
1.7
.3
3.4
97.5
98.7
94.2
97.2
92.2
18.5
28.5
28.5
19.6
23.4
79.0
70.2
65.7
77.6
68.8
C on n e cticu t.................................
D ela w a re.......................................
District o f Columbia^
F lo rid a ...........................................
G eo rg ia ..........................................
45
24
11
94
176
100.0
100.0
3.9
2.9
3.4
2.2
.5
.7
.3
.6
96 4
97.7
21.2
10.8
75.2
86.9
100.0
100.0
6.5
3.8
5.5
2.0
1.0
1.8
93.5
96.2
35.0
23.5
58.5
72.7
100.0
100.0
1.4
2.3
1.1
2.1
.3
.2
.8
.4
99.4
98.1
8.7
19.3
90.7
78.8
100.0
100.0
2.4
2.7
1.3
2.2
1.1
.5
97.6
97.3
19.0
25.6
78.6
71.7
Idaho
.................
Illinois
.................
I n d ia n a ..................' .......................
I o w a ................................................
K a n s a s ...........................................
24
500
367
438
254
100.0
100.0
100.0
100.0
100.0
1.5
1.6
3.9
1.0
2.3
1.3
1.4
3.6
.7
1.5
.2
.2
.3
.3
.8
.5
1.0
.3
.4
1.0
99.0
99.4
96.4
99.4
98.7
5.1
11.8
13.4
8.6
5.8
93.9
87.6
83.0
90.8
92.9
100.0
100.0
100.0
100.0
100.0
3.7
3.5
5.4
1.6
4.1
3 .0
2.7
4 .8
.8
2.3
.7
.8
.6
.8
1.8
96.3
96.5
94.6
98.4
95.9
13.7
30.3
28.8
21.9
12.1
82.6
66.2
65.8
76.5
83.8
S ta te
CORPORATION
4 .7
INSURANCE
100.0
DEPOSIT
7 ,734
B a n k s w ith d e p o sits o f — 1
$ 1 00 ,00 0 and u n d er................
$100 ,00 0 to $250 ,00 0 ..............
$250 ,00 0 to $ 5 0 0 ,0 0 0 ..............
FEDERAL
N um
ber of
banks
Estim ated losses and
doubtful items
.4
.4
1.0
.6
.8
.6
.4
.2
1.1
.7
97.2
97.9
88.7
96.2
95.0
15.6
20.2
24.4
16.6
18.0
81.6
77.7
64.3
79.6
77.0
100.0
100.0
100.0
100.0
100.0
4.1
2.7
12.3
6.4
5.1
3 .6
2.1
11.1
5.1
3.7
.5
.6
1.2
1.3
1.4
95.9
97.3
87.7
93.6
94.9
27.4
35.4
40.5
32.7
2 7 .4
68.5
61.9
47.2
60.9
67.5
M ic h ig a n .......................................
M in n e so ta ....................................
M ississipp i...................................
M isso u ri........................................
M o n ta n a .......................................
274
429
171
508
52
100.0
100.0
100.0
100.0
100.0
4.7
1.7
1.5
2.9
2 4
4.0
.8
1.4
2.2
1.5
.7
.9
.1
.7
.9
.2
1.2
.4
.9
.6
95.5
99.5
98.9
98.0
98.2
10.1
7.7
20.1
11.0
9.3
85.4
91.8
78.8
87.0
88.9
100.0
100.0
100.0
100.0
100.0
6.3
3.2
2.9
5.0
5.7
4.5
1.0
2.6
3.4
3.0
1.8
2.2
.3
1.6
2.7
93.7
96.8
97.1
95.0
94.3
19.0
13.9
32.9
22.4
17.3
74.7
82.9
64.2
72.6
77.0
N e b ra sk a ......................................
N e v a d a 3 .......................................
N ew H am pshire3 .....................
N ew Jersey..................................
N ew M e x ic o ................................
230
3
3
100
14
100.0
1.3
1.0
.3
.7
99.4
6.3
93.1
100.0
1.9
1.2
.7
98.1
15.6
82.5
100.0
100.0
12.7
1.8
12.2
1.4
.5
.4
.4
.5
87.7
98.7
15.1
9.4
72.6
89.3
100.0
100.0
17.7
4.0
16.5
3.0
1.2
1.0
82.3
96.0
24.8
24.7
57.5
71.3
N ew Y o r k ....................................
N orth C arolin a..........................
N orth D a k o ta ............................
O h io .................................................
O kla h o m a .....................................
190
182
126
369
172
100.0
100.0
100.0
100.0
100.0
7 3
12
11.6
3.9
1.3
6.9
1.0
8.1
3.7
.5
.4
.2
3.5
.2
.8
.9
1.1
1.0
.5
.6
93.6
99.9
89.4
96.6
99.3
10.2
7.7
17.5
19.4
5.1
83.4
92.2
71.9
77.2
94.2
100.0
100.0
100.0
100.0
100.0
9.4
2.4
19.3
6.0
2.3
8.5
1.9
12.1
5.5
.9
.9
.5
7.2
.5
1.4
90.6
97.6
80.7
94.0
97.7
1 8 .3
16.9
27.0
31 7
12.4
72.3
80.7
53.7
62.3
85.3
Oregon ...........................................
P ennsylvania..............................
Rhode Island3 ...........................
South C arolin a..........................
South D a k o t a ............................
43
298
2
88
123
100.0
100.0
2.1
7.2
1.5
7.0
.6
.2
1.3
.6
99.2
93.4
14.1
20.9
85.1
72.5
100.0
100.0
6.1
7.6
4.3
7.2
1.8
.4
93.9
92.4
33.8
27.5
60.1
64.9
100.0
100.0
1.6
5.3
1.5
3.9
.1
1.4
.6
.4
99.0
95.1
4.3
13.0
94.7
82.1
100.0
100.0
1.5
10.1
1.3
7.0
.2
3.1
98.5
89.9
6.0
20.6
92.5
69.3
T ennessee.....................................
T e x a s ..............................................
U t a h ................................................
V e rm o n t........................................
V irgin ia..........................................
238
299
27
33
166
100.0
100.0
100 0
100.0
100.0
4 .8
3.8
1.7
15.6
3.9
4.4
3.3
1.5
14.6
3.4
.4
.5
.2
1.0
.5
.2
.5
1.2
.4
.3
95.4
96.5
99.5
84.8
96.4
22.9
13.7
12.2
30.1
18.3
72.5
82.8
87.3
54.7
78.1
100.0
100.0
100.0
100.0
100.0
5.7
7.0
2.2
14.8
5.0
4 .8
5.8
1.8
13.0
4.1
.9
1.2
.4
1.8
.9
94.3
93.0
97.8
85.2
95.0
36.2
29.0
23.2
47.5
25.2
58.1
64.0
74.6
37.7
69.8
W a sh in g to n .................................
W e st V i r g i n ia ...........................
W iscon sin .....................................
W y o m in g ......................................
88
72
470
25
100.0
100.0
100.0
100.0
1.7
7.6
4 2
3.5
1.3
6.6
3.5
2.0
.4
1.0
.7
1.5
1.0
.3
.4
.6
99.3
92.7
96.2
97.1
9.6
19.7
15.4
18.0
89.7
73.0
80.8
79.1
100.0
100.0
100.0
100.0
2.1
10.2
6.4
5.6
1.0
8.1
4.5
2.5
1.1
2.1
1.9
3.1
97.9
89.8
93.6
94.4
22.9
33.2
32.6
39.3
75.0
56.6
61.0
55.1
BANKS
3.0
2.1
10 5
4.3
4.9
INSURED
3.4
2.5
11.5
4.9
5.7
OF
100.0
100.0
100.0
100.0
100.0
ANALYSES
283
114
16
111
40
EXAM INERS'
K e n tu c k y ......................................
L o u isia n a......................................
M a in e .............................................
M a r y la n d ......................................
M assach u setts............................
Table 130.
E X A M I N E R S ’ A N A L Y S IS OF A S S E T S OF O P E R A T IN G IN S U R E D C O M M E R C IA L B A N K S N O T M E M B E R S OF T H E F E D E R A L R E S E R V E
S y ste m , L a t e s t E x a m in a tio n in
*£>
O
1935— Continued
B A N K S GROUPED B Y AMOUNT OF DEPOSITS AND B Y STATES
(Percent of book value)
Num of
banks
Book
value
Estim ated losses and
doubtful items
N et sound value
Total
Losses
D ou bt Total
ful
Slow
Book
value
Total
Losses
D ou b t
ful
N e t sound value
Total
Slow
N ot
criti
cized
4.0
4.0
96.0
2.1
93.9
100.0
3.1
2.9
.2
96.9
12.9
84.0
930
2,469
1,959
100.0
100.0
3.0
2.4
3.0
2.4
2.6
2.6
97.0
97.6
97.4
3.5
100.0
93.5
94.8
94.8
100.0
100.0
100.0
3 .4
1.8
1.8
2.9
1.6
1.7
.5
.2
.1
9 6.6
98.2
98.2
10.8
7.9
8.0
85.8
90.3
90.2
$500 ,00 0 to $750 ,00 0
$750,000 to $ 1 ,0 0 0 ,0 0 0 . .
$ 1 ,0 0 0 ,0 0 0 to $ 2 ,0 0 0 ,0 0 0 .
778
446
671
100.0
100.0
100.0
3.2
3.8
4.4
3.2
3.8
4.3
96.8
96.2
95.6
94.6
93.4
92.7
100 0
100.0
100.0
1.9
2.0
2.8
1.7
1.9
2.7
.2
.1
.1
98.1
98.0
97.2
10.3
10.7
12.7
87.8
87.3
84.5
$ 2 ,0 0 0 ,0 0 0 to $ 5 ,0 0 0 ,0 0 0 .
$ 5 ,0 0 0 ,0 0 0 to $50,0 0 0 ,0 0 0
Over $ 5 0 ,0 0 0 ,0 0 0 ................
N o t classified2 .......................
322
128
4
27
100.0
100.0
100.0
100.0
4.9
4.8
2.7
4.9
4.8
2.7
95.1
95.2
97.3
93.3
93.3
97.3
2.8
4 .8
5.7
2.7
4.5
5.6
.1
.3
.1
97.2
95.2
94.3
100.0
15.1
17.8
13.7
100.0
100.0
100 0
100.0
100.0
82.1
77.4
80.6
100.0
120
100.0
100.0
100.0
100.0
100.0
.1
98.8
99.4
99.1
98.2
99.2
8.1
9.5
5.7
18.0
3.0
90.7
89.9
93.4
80.2
96.2
S ta te
A la b a m a ...................................
A r izo n a.....................................
A rkan sa s..................................
C aliforn ia.................................
C olo ra d o ..................................
5
156
106
55
2.4
.4
2.3
2.4
.4
2.2
45
24
11
94
176
100.0
100.0
1.6
1.6
3.2
3.2
100.0
100.0
3.2
I d a h o .........................................
Illin o is.......................................
In d ia n a .....................................
I o w a ...........................................
K a n s a s ......................................
24
500
367
438
254
100.0
100.0
100.0
2.2
2.8
2.9
1.8
1.9
100.0
C on n e cticu t............................
D elaw are..................................
District o f C olum bia3 . . .
F lo rid a ......................................
G eo rg ia.....................................
100.0
100.0
2.8
2.6
1.2
1.1
3.2
.3
.4
.3
.4
2.8
2.8
.7
1.2
1.1
.7
95.8
100.0
97.6
99.6
97.7
12.5
.4
1.2
.1
83.3
99.6
96.4
99.5
95.1
100.0
100.0
100.0
100.0
100.0
1.2
6
.9
1.8
.8
1.1
.6
.8
1.6
.7
98.4
96.8
.6
97.8
96.8
100.0
100.0
1.5
.9
1.3
.9
.2
98.5
99.1
16.5
6.8
82.0
92.3
98.8
96.8
5.7
13.4
93.1
83.4
100.0
100.0
.9
1.3
.8
1.3
.1
99.1
98.7
5.4
13.5
93.7
85.2
99.5
99.2
95.2
99.1
98.4
100.0
100.0
100.0
100.0
100.0
1.2
1.2
3.4
.7
1.4
1.0
1.2
3.2
.6
.9
.2
98.8
98.8
96.6
99.3
98.6
3 .6
6.6
8.1
1.7
4.0
95.2
92.2
88.5
97.6
94.6
99.7
99.6
97.2
99.3
98.8
2.6
.2
.4
2.0
.2
.4
.1
.2
.1
.2
.1
.5
CORPORATION
100.0
B a n k s w ith d e p o sits o f — 1
$100 ,00 0 and u n d er...........
$100 ,00 0 to $250 ,00 0
$250,000 to $500,000 . . . .
INSURANCE
7 ,734
U n ite d S t a t e s — t o t a l ...............
DEPOSIT
N ot
criti
cized
FEDERAL
Other assets
Securities
Estim ated losses and
doubtful items
8.0
8.0
M ic h ig a n ..............
M in n e so ta ...........
M ississipp i...........
M isso u ri................
M o n ta n a ...............
274
429
171
508
52
100.0
100.0
100.0
3.8
3.7
.8
.8
.8
1.0
.7
N e b ra sk a ..............
N evad a3 ...............
N ew H ampshire3
N ew Jersey
N ew M e x ic o . . . .
230
3
3
100.0
100
100.0
100.0
N ew Y o r k ...........
N orth C arolin a.
N orth D a k o t a . .
O h io ........................
O k la h o m a ............
190
182
126
369
172
100.0
100.0
100.0
100.0
Oregon ...................
Pennsylvania . . .
Rhode Islan d8 . .
South C arolin a. .
South D a k o t a . .
43
298
100.0
100.0
88
T ennessee.............
T e x a s ......................
U t a h .......................
V e rm o n t...............
V irgin ia.................
W ashington . . . .
W e st V irgin ia. . .
W isco n sin .............
W y o m in g ..............
72
470
25
7.7
6.2
14.0
12.0
16.5
89.3
91.5
80.8
84.6
80.2
95.7
98.8
99.2
98.0
99.0
11.8
10.2
5.2
5.4
9.3
83.9
88.6
94.0
92.6
89.7
99.4
1.8
97.6
91.9
98.6
18.4
3 7
73.5
94.9
.6
94.8
98.9
92.1
96.8
99.1
10.9
5.9
18.1
20.8
1.4
83.9
93.0
74.0
76.0
97.7
.2
.2
99.5
95.3
8.4
37.6
91.1
57.7
.5
98.8
97.2
5.2
15.8
93.6
81.4
.1
.2
96.1
98.2
.4
85.5
98.0
10.4
7.2
9.8
28.9
13.6
85.7
91.0
87.6
56.6
84.4
.1
98.7
94.3
98.2
98.1
4.5
9.8
14.1
3.2
94.2
84.5
84.1
94.9
3.6
18.8
2.7
8
5.3
93.7
78.7
82.9
95.2
86.7
100.0
100.0
100.0
100.0
100.0
3.0
2.3
5.2
3.4
3.3
2.3
2.2
3 .4 j
3.4
2.9
96.2
99.2
99.2
99.2
99.0
2.2
.2
23.0
.8
.9
94.0
99.0
76.2
98.4
98.1
100.0
100.0
100.0
100.0
100.0
4.3
1.2
.8
2.0
1.0
3 .8
.7
.8
1.9
8
98.6
.5
98.1
100.0
.6
.6
10.7
.1
89.3
99.9
.3
.3
89.0
99.6
100.0
100.0
8 1
1.4
8.1
1.1
6.3
6.3
4.0
4.0
1.8
.3
.2
2.1
2.2
3.5
93.4
99.6
93.9
96.0
95.5
100.0
100.0
100.0
100.0
100.0
5.2
1.1
7.9
3.2
.9
5.0
1.1
6.2
3.2
.3
1.7
.6
93 7
99.8
96.0
98.2
99.0
8.5
8.5
100.0
91.5
.8
2.8
99.2
88.7
100.0
100.0
.5
4.7
.3
4.5
100.0
100.0
2.5
1.5
2.5
1.4
97.5
98.5
.7
.2
96.8
98.3
100.0
100.0
1.2
2.8
1.2
2.3
238
299
27
33
166
100.0
4.3
2.3
4.3
2.3
.8
.8
100.0
100.0
17.5
3.2
17.5
3.2
95.7
97.7
99.2
82.5
96.8
12.0
.7
4.0
1 1
5.3
83.7
97.0
95.2
81.4
91.5
100.0
100.0
100.0
100.0
100.0
3.9
1.8
2.6
14.5
2.0
3 .8
1.6
2.5
14.1
2.0
88
100.0
100.0
100.0
100.0
1.5
5.1
3.9
1.9
1.5
5.1
3.9
1.7
98 5
94.9
96.1
98.1
1.5
7.5
1.6
.3
97.0
87.4
94.5
97.8
100.0
100.0
100.0
100.0
1.3
5.7
1.8
1.9
1.2
5.7
1.7
1.5
14
2
123
100 0
100.0
100.0
100.0
10.7
.1
.8
.8
.8
.2
.2
1.8
1.0
1 Deposits as of December 31, 1935.
2 Includes chiefly banks reorganized subsequent to latest examination.
® Figures included in totals for the United States.
.7
.1
1.8
.4
.5
.5
.1
|
-2
.3
.2
.1
.4
191
97.0
97.7
94.8
9 6.6
96.7
97.3
97.5
85.6
96.0
92.0
100.0
2.7
1.9
14.4
4.0
banks
2.7
2.5
14.4
4.0
in su red
100.0
100.0
100.0
100.0
100.0
of
283
114
16
111
40
e x a m i n e r s ’ a n a ly s e s
K e n tu c k y .............
Lo u isia n a..............
M a in e .....................
M a r y la n d .............
M assach u setts. .
Table 131.
SUMMARY OF EXAMINERS’ ANALYSIS OF ASSETS OF OPERATING INSURED COMMERCIAL BANKS NOT MEMBERS OF THE
F e d e r a l R e s e r v e Sy s t e m , E x a m in a t io n s O c t o b e r 1, 1 933,
to
D
ecem ber
31, 1935
B A N K S GROUPED B Y AMOUNT OF DEPOSITS AND B Y STATES
(Ratios in percent)
Loans
T otal assets
1934
1935
1934
1935
1934
10.5
6 .7
4.7
8.0
6.5
7.5
4 .0
Other assets
1934
1935
3.6
3 .i
Loans
Total assets
1933 ! 1934 ! 1935
i
;
1934
14.2
32.6
20.3 !
179
1935
25.4
Securities
Other assets
1934 ! 1935
1934 | 1935
1.7
2.1
13.1
12.9
|
6.2
4 .7
5.2
5.1
3.2
3.0
8.4
61
6.5 |
7.1
4.6
4.3
6.1
5.4
6.2 |
3.0
2.4
2.6
3.2
2.4
2.6
3 .4
1.8
1.8
16.8
25.4 | 21.2
18.9 ! 13.4
23.3
18.4 ! 12.8
23.0
25.9
34 .8
35.1 | 23.9
3 4 .4 ! 23.7
3 .8 !
2.0 ;
19 i
3.5
2.8
2.6
10.8
10.5
7.9
8.6 j
8.0
9 5
$ 500 ,00 0 to $ 7 5 0 ,0 0 0 ............................
$750,000 to $ 1 ,0 0 0 ,0 0 0 ........................
$ 1 ,000,000 to $ 2 ,0 0 0 ,0 0 0 ....................
10.9
11.0
11.5
5 .3
6.5
6.5
3.3
3.6
4.6
6.2
6.6 ;
7.6 j
4.4
4.6
6.1
6.8
9.3 I
8.2 j
3.2
3.8
4 .4
2.7 1
3.2 !
2.9 |
1.9
2.0
2.8
! 14.3
| 13.5
14.7
37.5 ! 26.7
3 3.9 i 25.2
26 1
3 3.9
1.6
o 'i
2.7
2.2
2.8
2.9
10.3
10.3
11.5 | 10.7
12.7
12.7
$ 2,0 0 0 ,0 0 0 to $ 5 ,0 0 0 ,0 0 0 ....................
$ 5 ,0 0 0 ,0 0 0 to $ 5 0 ,0 0 0 ,0 0 0 ..................
Over $ 5 0 ,0 0 0 ,0 0 0 ....................................
N o t classified2
11 2
11.2
9.5
7 6
7.9
8.1
5.4
6.2
5.3
6.4
8.9 :
9.9 I
8.7 I
7.8
8.5
7.8
22.5
8.7 !
7.5 I
7.1 !
4 .9
4.8
2.7
3.6 |
5.1
9.3 |
2.8
4.8
5.7
19.3
22.3
21.4 i 18.4
21.8 1 18.7
|
17.7
21.8
16.9 i 17.5
12.8 i 14.2
14.9
! 15.5
j 10.5
31.2 ! 26.9
31.2 I 26.3
2 5 . 8 ; 20.6
1.3
1.4 j
1.8
1.9
15.1
15.6
17.0 i 17.8
13.7
18.7
30 .9 j 18.5
7.4
12.5
12.9
8.1
1.2
.1
2.6
6.7
13.2
1.8
5.7
18.0
3.0
.6
8.3
7.4
16.5
6.8
20.9
13.5
i
;
j
S ta te
A la b a m a .......................................................
10.5
4.1
2.4
5.1 1
2.5
6.2
4.2
1.3
1.2
3 2.6 i 20.5
A rkansas......................................................
California
....
C olo rado......................................................
8 .9 i
6 1
13.8
4 .2 i
3.1
5.0
3.2
1 6
3 .6
5.7 i
2.7 i
10.1 j
5.8
2.8
7.8
5.0 1
3.6 i
2.9
2.4
.4
2.3
2.2 !
2.9
1.1
.9
1.8
.8
24.0 i 13.9
29.1
10.8
13.0 | 12.8
10.1
18.0 | 1 1 8
52.6
25.3
28.4
28.5
19.6
23.4
3.2
C onnecticut................................................
Delaware
8.3
7.3
5.0
7.2
3.9
2.9
7.1 i
6.0 !
6.5
3.8
4.5
8.6 j
1.6
3 .2
1.4
6.5 :
1.5
.9
14.9 !
12.1 ;
21.2
10.8
25 1
29.5
35.0
23.5
.6
F lo rid a ..........................................................
G eo rg ia .........................................................
6.2
7.8
2 .6
3 .5 !
1.4
2.3
3 .8 !
4 .5 i
2.4
2.7
2.2 |
5.3
1.2
S.2
2.4
1.3 !
.9
1.3
13.7
8.7
23.9
4 0.7 | 26.3 i 19.3
I d a h o .............................................................
Illino is...........................................................
In d ia n a .........................................................
I o w a ...............................................................
K a n s a s ..........................................................
7.2
10.2
12.1
4 .6
6.8 !
2.7
3.1
6.1
2 .4 !
3 .9
1.5
1.6
3.9
1.0
2.3
5.6
5.8 j
7.7 j
3.7 |
7.1
3.7
3.5
5.4
1.6
4.1
1.8
1.5
6.2
2.2
2.5
.3
.4
2.8
.7
1.2
1.6
1.7
4 .0
1.2
1.6
1.2
1.2
3 .4
.7
1.4
15.3
13.3
14.0
5.2
7.5 !
15.0
22.7 i 16.0 | 11.8
17.6 | 13.3
18.3
8 .6
17.8 ! 13.0 !
5.8
10.1
16.5
30 .6 1 19.0
3 5.8 j 25.6
26.4
3 7 .4
36.1
31.2
21.8
1
I
|
1
13.7
30 .3
28.8
21.9
12.1
1.0 |
6.2 1
7.0
13.4
.2 I
A
1.3 1
.6
.7
.2
.4
2.0
.2
.4
2.2 j
6.9
8.0 !
2.4
4.5
3.6
6.6
8.1
1.7
4.0
CORPORATION
9.3
8.5
8 .7
INSURANCE
B a n k s w ith d e p o sits o f — 1
$100 ,00 0 and u n der...............................
$100 ,00 0 to $ 2 5 0 ,0 0 0 ..............................
$250 ,00 0 to $ 5 0 0 ,0 0 0 ............................
1933
1935
DEPOSIT
U n ite d S t a t e s — t o t a l ..................................
Securities
FEDERAL
Ratio of slow assets to total book value of assets,
b y type of asset
R atio o f estimated losses and doubtful items
to total book value of assets, by type o f asset
8 9
10.8
15.0
8 7
9.8
4.0
5.0
11 7
6 4
7.2
M ic h ig a n . . ,
M innesota . .
M ississipp i.
M isso u ri. . .
M o n ta n a . . .
14.4
4 .6
7.2
8.8
10.3
7.4
2.8
3.0
3 4
4 .2
3 .4
2.5
11.5
4 .9
5.7
3.7
4.8
12.6
6.2
5.9
4.1
2.7
12.3
6.4
5.1
6.3
6.6
17.6
8.1
12.1
;
i
|
4 7
1 7
1.5
2.9
2.4
8.0
4.1
4.4
5.3
6.4
6.3
3.2
2.9
5.0
5.7
8.3
2.2
2.4
2.5
4 .7
2.9 1
1.3
|
2.2
4.1
1.9
3.3
3.4
3.0
2.3
5.2
3.4
3.3
27.5
20.1 ! 15.6
23.8
33.9
20.2
27.1 i 21.4
24.4
24.2 ; 21.8 1 16.6
12.1 j 17.6
18.0
3 3.4 ; 27.4
40.7
35.4
36.8
40.5
42.0
32.7
27.4
26.3
3.8
.8
.8
.8
1.0
5.9
1.6 :
1.9
1.7
1.7
4.3
1.2
.8
2.0
1.0
24.0
14.7
11.9
15.7
26.8 i 21.0
17.6
14.3
18.7
12.7
10.1
7.7
20.1
10.9
9.3
29.8
24.2
40.6
28.8
31.3
i .4
.8
.6
14.6
9.4
6.3
22.0
19.4
15.1
9.4
2.7
2.5
14.4
4.0
8.0
!
!
j
ji
j!
2.0
12.0
2.5
1.8
3 .3
3.6
18.8
2.7
.8
5.3
10.6
11.3
10.1
12.5
15.3
7.7
6.2
14.0
12.0
16.5
19.0
13.9
32.9
22.4
17.3
3.8
.3
6.3
.9
.8
2.2
.2
23.0
.8
•9
11.5
10.9
11.4
6.5
6.2
11.8
10.2
5.2
5.4
9.3
23.8
15.6
.2
.5
2.0
1.8
35.7
44.8
24.8
24.7
.9
.3
.3
.3
23.3
10.0
18.4
3.7
12.7
1.8
19.5
6.3
17.7
4.0
15.6
.6
10.7
.1
8.5
1.4
8.1
1.4
16.9
23.8
N ew Y o r k ...........
N orth Carolina .
N orth D akota . .
O h io ......................
O k lah om a..........
12.7
6.0
15.0
9.4
5.4
9.4
2.3
16.1
5.3
2.2
7.3
1.2
11.6
3.9
1.3
10.9
4.3
23.5
7.3
4.5
9.4
2.4
19.3
6.0
2.3
10.2
.9
9.2
3.0
1.4
6.3
.2
4.0
1.8
1.0
4.7
1.7
10.1
4.0
1.3
5.2
1.1
7.9
3.2
.9
14.4
12.0
10.2
23.3
12.8
7.7
23.3
25.6 ! 17.5
32.7 : 27.3 | 19.4
12.0 !
8.2 ;
5.1
20.8
18.3
33.1
16.9
39.9 ! 27.0
46.6
31.7
22.5
12.4
.1
.6
4.0
2.1
3.2
.3
.2
2.1
2.2
3.5
11.5
4.7
18.8
18.6
2.1
10.9
5.9
18.1
20.8
1.4
Oregon ................
P ennsylvania. .
Rhode Island3 .
South C arolin a.
South D a k o t a . .
7.7
11.9
2.7
9.1
2.1
7.2
6.3
8.2
6.1
7.6
.5
12.2 |
8.5
.5
6.1
•5
4.7
22.3 ; 20.5
19.5
22.0
14.1
20.9
47.8 ! 33.8
33.6 | 27.5
1.5
2.5
.8
2.8
6.0
31.1
8.4
37.6
6 8
10.7
1.6
9.0
1.6
5.3
1.0
16.3
1.5
10.1
2.5
1.5
1.2
3.6
1.2
2.8
13.3
20.5
6.7
18.3
4.3
13.0
14.0
6.0
32.0 | 20.6
.3
1.7 !
.7
*2
5.2
16.2
5.2
15.8
Tennessee.
T exas. . . .
U t a h ...........
V e rm on t. .
V irgin ia. . .
6.2
6.1
11.6
21.1
8.0
6.1
4.6 !
5.2
15.7
5.6
4 .8
3 .8
1.7
15.6
3.9
6.1
8.8
7.4
12.6
6.1
5.7
7.0
2.2
14.8
5.0
8.4 !
4.3
2.8
2.3
.8
4.0
23.7 i 17.5
6.9
3.2
30.6
36.4
19.4
25.7
22.6
15.5
26.8
15.2
3 1.4 ; 24.7
22.9
13.8
12.2
30.1
18.3
43.9
41.6
27.3
41.9
36.7
16.2
1.5
3.9
.6 !
3.5 ;
12.0
.7
4.0
1.1
5.3
16.3
7.5
18.5
24.8
11.1
10.4
7.2
9.8
28.9
13.6
W a sh in g to n . .
W est V irgin ia.
W isco n sin . . . .
W y o m in g . . . .
6.6
12.0
10.5
10.2
3.5
9.5
7.6
5.8
1.7
7.6
4.2
3.5
4.0
11.6
8.3
9.7
2.1
10.2
6.4
5.6
4.5
8.9
10.4
2.8
1.5
7.5
1.6
.3
1.4
17.5
14.6
4.3
4.5
9.8
14.1
3.2
1Deposits as of December 31, 1935.
3.2
5.0
1.5
5.1
3.9
1.9
5.0
1.6
3.7
11.0 ;
3.3
1.7
5.9
2.8
2.0
3.9
1.8
2.6
14.5
2.0
1.3
5.7
1.8
1.9
13.3
32.7
24.5
21.6 1
12.0 I 9.6
26.8
19.7
22.9
15.4
16.4
18.1
!
!
1
!
36.2
29.0
23.2
47.5
25.2
3 4.8 1 22.9
39.9
33.2
4 3.6
3 2 .6
31.3
39.3
.2
8.0
1.7
.5
BANKS
15.7
2.9
1.9
INSURED
18.7
12.9
9.3
OF
N e b ra sk a ..............
N e v a d a 3................
N ew H am pshire3
N ew Jersey...........
N ew M e x ic o . . . .
EXAMINERS’ ANALYSES
K e n tu c k y ...........
L o uisia na...........
M a i n e ..................
M a r y la n d ...........
M a ssach u setts.
2Includes chiefly banks reorganized subsequent to latest examination.
3Figures included in totals for the United States.
ZD
CO
Table 132.
CAPITAL R a t i o s OF OPERATING INSURED COMMERCIAL BANKS NOT MEMBERS OF THE FEDERAL RESERVE SYSTEM,
E
x a m in a t io n s
O c t o b e r 1 ,1 9 3 3 ,
to
D
ecem ber
5
3 1 ,1 9 3 5
^
B AN K S GROUPED B Y AMOUNT OF DEPOSITS AND B Y STATES
(Ratios in percent)
1933
1934
N et sound assets
1935
1933
1934
Total capital account
T otal deposits
1935
1933
1934
1935
1933
1934
1935
7,734
9.6
13.5
14.0
11.2
15.8
16.6
45.1
6 7.2
76.5
1,837
2,601
1,405
1,241
2,592
1,771
9,30
2,469
1,959
22.8
14.0
10.4
25.2
18.2
15.1
24.7
17.7
15.1
3 1.8
17.2
12.2
34.5
22.5
17.9
33.5
21.9
17.9
69.0
60.1
52.1
80.6
81.1
77.3
83.8
87.5
86.4
$500,000 to $ 7 5 0 ,0 0 0 .......................
$750,000 to $ 1 ,0 0 0 ,0 0 0 ....................
$1,000,000 to $ 2 ,0 0 0 ,0 0 0 ...............
537
313
445
659
392
595
778
446
671
9.3
7.4
7.9
13.7
12.2
13.1
14.4
12.7
13.9
10.8
8.6
9.2
16.1
14.1
15.4
17.2
14.7
16.4
43.1
37.6
37.7
73.9
65.6
67.3
84.3
80.7
77.2
$2,000,000 to $ 5 ,0 0 0 ,0 0 0 ...............
$ 5,000,000 to $ 5 0 ,0 0 0 ,0 0 0 ............
Over $50,000 $ 1 ,0 0 0 ,0 0 0 .................
N o t classified2......................................
216
95
7
261
116
4
51
322
128
4
27
9.3
10.0
2.6
12.7
13.0
6.2
13.0
13.1
13.5
10.2
23.7
10.6
11.5
2.6
14.8
15.1
6.6
17.9
15.4
16.1
11.5
31.7
42.3
44.0
19.6
62.7
61.5
4 3.9
51.5
71.8
69.4
66.2
77.5
S ta te
A la b a m a .................................................
Arizona3..................................................
Arkansas.................................................
C alifornia...............................................
C olorado.................................................
117
3
153
108
57
120
3
155
108
58
120
5
156
106
55
18.4
21.5
19.6
23.9
28.1
25.3
61.2
84.9
90.6
14.5
5.5
4.7
18.8
9.7
11.4
17.2
12.7
10.9
18.2
5.9
5.1
23.5
10.7
12.8
20.9
14.7
12.2
59.7
45.8
22.6
83.0
80.7
72.4
85.3
92.6
78.7
Connecticut..........................................
Delaw are.................................................
D istrict of Colum bia3.......................
Florida.....................................................
G eorgia....................................................
47
24
11
90
175
49
24
11
92
177
45
24
11
94
176
9.3
12.3
12.7
16.8
12.6
16.4
10.7
14.3
14.8
19.8
14.6
19.8
50.7
60.8
69.9
77.9
77.2
87.4
16.9
18.1
15.9
20.8
15.5
19.0
21.0
24.0
19.0
28.0
18.5
24.9
71.9
68.2
88.7
86.5
96.5
90.5
Idah o........................................................
Illinois......................................................
In d ia n a ....................................................
I o w a ..........................................................
K a n sa s.....................................................
28
503
354
376
214
25
507
362
427
225
24
500
367
438
254
12.6
14.8
5.7
10.9
11.3
12.4
16.0
11.6
12.1
12.6
11.9
15.3
11.5
11.0
12.7
14.7
18.1
6.5
12.7
12.8
14.0
19.0
13.3
13.7
14.4
13.6
18.2
13.5
12.4
14.6
62.0
56.5
29.2
69.4
60.9
85.2
88.1
64.8
88.8
79.2
92.5
95.9
75.5
95.1
90.7
i
CORPORATION
7,682
INSURANCE
7,456
B a n k s w ith d e p o sits o f— 1
$100,000 and under...........................
$100,000 to $ 2 5 0 ,0 0 0 .......................
$250,000 to $ 5 0 0 ,0 0 0 .......................
DEPOSIT
U n ite d S ta te s — t o t a l .............................
FEDERAL
Ratio of net sound capital to—
N um ber o f banks
284
113
20
114
40
283
114
16
111
40
13.1
11.2
M ichigan.................................................
M innesota..............................................
M ississippi.............................................
M issouri..................................................
M o n ta n a .................................................
222
421
177
496
52
262
423
174
498
52
N ebrask a................................................
N evada3 ..................................................
N ew Hampshire3 ...............................
N ew Jersey............................................
N ew M e x ic o .........................................
223
3
4
99
13
N ew Y o r k ..............................................
N orth C arolin a...................................
N orth D a k o ta ......................................
Ohio..........................................................
O klahom a..............................................
15.0
18.0
10.5
14.7
12.5
16.2
14.0
1.3
14.4
8.7
19.6
24.2
3 .3
17.8
13.2
17.8
22.2
11.7
17.6
14.5
57.4
48.2
7.6
56.0
4 1 .4
80.7
79.1
21.8
70.4
62.2
83.8
89.5
45.1
78.7
70.6
274
429
171
508
52
1.4
9.5
8.1
10.3
12.2
9.8
11.9
14.7
13.2
15.1
9.9
11.9
14.2
11.8
14.7
1.5
10.5
9.4
11.6
14.1
11.0
13.4
17.7
15.4
17.8
11.5
13.6
16.9
13.6
17.2
7.9
66.1
51.2
51.6
51.5
58.3
87.8
83.7
81.8
81.0
67.7
96.0
92.9
85.1
89.0
232
3
4
102
14
230
3
3
100
14
11.6
14.2
13.8
13.2
16.4
16.1
53.2
89.0
95.6
5.4
.9
5.1
9.2
7.9
8.8
6.0
.9
5.7
10.2
8.8
9.7
19.0
5 .8
22.3
75.8
35.9
87.3
195
174
126
337
165
193
183
125
356
176
190
182
126
369
172
8.7
11.6
6.7
7.3
9.7
14.8
14.8
10.9
15.2
11.6
14.9
15.6
13.6
14.9
11.7
9.9
13.9
7.7
8.3
10.8
17.7
17.9
12.3
18.0
13.2
18.2
19.2
15.9
17.7
13.3
3 7.6
64.5
27.6
41.4
62.8
61.5
88.9
37.9
74.3
85.3
68.4
99.4
53.5
80.7
94.5
Oregon.....................................................
Pennsylvania.......................................
Rhode Island3......................................
South Carolina....................................
South D a k o ta .......................................
42
267
2
62
125
43
296
2
74
125
43
298
2
88
123
7.0
17.0
13.2
18.0
11.0
18.8
7.7
22.1
15.1
23.2
12.3
24.1
45.9
55.7
92.9
64.5
93.0
72.7
7.5
10.2
9.9
12.9
10.8
15.7
8.4
12.1
11.0
15.0
12.2
18.6
50.6
46.1
88.0
57.0
91.4
75.2
Tennessee...............................................
T exas........................................................
U ta h ..........................................................
V e rm on t.................................................
Virginia...................................................
237
303
26
30
162
239
307
26
33
163
238
299
27
33
166
13.0
14.1
8.3
13.6
13.9
12.6
18.8
13.9
10.4
16.7
11.7
18.4
14.5
15.5
15.7
16.5
16.6
9.3
13.6
17.7
14.7
23.4
16.3
12.0
20.6
13.4
22.8
17.2
18.6
19.8
66.4
68.5
38.7
104.1
61.3
66.2
80.2
75.7
35.8
76.1
70.8
83.6
96.3
46.3
80.8
W a sh in gton ..........................................
W est Virginia.......................................
W iscon sin ...............................................
W y o m in g ...............................................
94
71
481
28
93
72
483
26
88
72
470
25
14.0
9.3
5.4
7.9
17.1
13.5
11.8
12.1
15.3
13.8
13.0
11.3
17.0
11.5
6.1
8.8
20.3
15.9
13.6
13.7
18.2
16.2
15.1
12.8
66.3
4 0.6
31.5
41.2
88.1
56.0
60.1
68.1
95.7
63.5
76.9
79.2
1.2
e x a m in e r s ’
12.1
7.6
16.2
19.1
3.2
14.9
11.6
of
282
113
19
105
40
analyses
K e n tu c k y ...............................................
Louisiana...............................................
M a in e ......................................................
M a ry la n d ...............................................
M assachusetts.....................................
insured
banks
1 Deposits as of December 31, 1935.
2 Includes chiefly banks reorganized subsequent to latest examination.
8 Figures included in totals for the United States.
<r>
cn
196
FEDERAL DEPOSIT INSURANCE CORPORATION
CAPITAL INVESTMENT OF THE RECONSTRUCTION
FINANCE CORPORATION
T a b le 133.
CAPITAL INVESTMENT OF THE RECONSTRUCTION FINANCE
C o r p o r a t io n in O p e r a t in g I n s u r e d C o m m e r c ia l B a n k s , D e c e m b e r
31, 19351
B Y CLASS OF B A N K IN EACH STATE
(Amounts in thousands of dollars)
Banks members F. R . System
Banks not
members
F. R . System
All banks
National
Am ount
N o. of
banks
Am ount
N o. of
banks
Am ount
N o. of
banks
25,675 2867,542
1,952
471,623
327
183,763
23,396 2212,156
4
1,839
5
5
1
715
15,446
200
36
1
83
49
23
1,085
50
2,091
12,772
575
3 ,464
223
1,500
592
1,675
N o. of
banks
U n ite d S ta te s— t o t a l . ..
Am ount
62
3
110
112
56
11,027
1,390
4,231
47,938
4,876
22
2
22
58
32
8,103
1,340
1,425
19,720
4,101
F lorid a............................
G eorgia...........................
39
11
7
39
76
7,167
360
2,600
1,995
4,325
16
4
2
13
16
3,703
137
1,100
1,303
1,515
1
6
100
1,135
23
7
5
25
54
Id a h o ...............................
Illinois.............................
Indian a...........................
Io w a ................................
K a n sa s............................
24
204
270
133
191
1,625
79,361
15,949
9,853
5,074
9
119
50
45
46
635
72,810
6,888
6,298
2,266
4
13
4
4
6
775
2,350
1,230
1,070
173
11
72
216
84
139
215
4,201
7,831
2,485
2,635
K en tu c k y......................
Louisiana.......................
M a in e ..............................
M a ry la n d ......................
M assachusetts.............
110
103
24
65
61
8,406
10,698
7,531
8,987
15,237
28
14
12
13
38
3,182
4,340
2,456
2,637
9,496
2
3
2
4
7
1,500
1,775
2,150
2,300
3,166
80
86
10
48
16
3,724
4,583
2,925
4,050
2,575
M ich igan .......................
M in n eso ta.....................
M ississippi....................
M issouri.........................
M o n ta n a ........................
176
230
142
203
49
36,955
15,803
8,570
10,894
2,986
50
91
15
29
16
18,113
12,500
2,647
4,142
1,069
30
4
10,071
53
19
8
3,171
1,253
96
135
127
155
25
8,771
3,250
5,923
3,581
664
N ebrask a.......................
N e v a d a ...........................
N ew H am pshire..........
N ew Jersey...................
New M e x ic o .................
143
4
9
204
18
7,069
205
602
68,591
666
48
3
8
135
6
5,098
175
502
29,190
401
1
66
25
2
18,964
33
94
1
1
44
10
1,905
30
100
20,437
232
New Y o r k .....................
N orth C arolina...........
N orth D a k o ta .............
O h io .................................
O klahom a......................
431
123
124
344
46
220,775
7,215
3,571
69,792
9,099
236
18
29
81
40
128,125
1,768
2,022
22,840
9,039
56
3
65,800
1,700
26
139
102
95
237
6
26,850
3,747
1,549
18,754
60
O regon............................
Pennsylvania...............
Rhode Isla n d ...............
South Carolina............
South D a k o ta .............
49
274
4
33
114
1,694
44,055
899
2,193
3,789
18
192
3
6
30
703
19,545
649
1,505
2,754
2
15
3
55
29
67
1
27
81
953
14,960
250
688
980
Tennessee......................
T e x a s ...............................
U t a h ................................
V e rm on t.........................
V irginia..........................
118
366
37
42
129
11,607
29,023
3,090
7,708
9,597
27
140
8
9
34
8,040
22,021
1,250
498
3,055
2
17
11
225
445
1,340
4
2,150
89
209
18
33
91
3,342
6,557
500
7,210
4,392
W ash in gton ..................
W est Virginia...............
W iscon sin ......................
W y o m in g .......................
88
80
373
21
5,478
5,356
30,337
1,293
23
32
55
9
2,609
2,604
14,656
15
4
7
2
1,713
616
2,343
55
50
44
311
10
1,156
2,136
13,338
590
613
V00O
Arkansas........................
California......................
C olorado........................
to
0°
S ta te
A lab am a........................
State
38
9,550
1 Data concerning banks members of the Federal Reserve System were obtained from the
the Reconstruction Finance Corporation fo r the Fourth Quarter o f 1935.
R eport o f
2 Includes one Alaska national bank not a member of the Federal Reserve System with RFC capital
investment of $38,000.
197
CAPITAL INVESTMENT RECONSTRUCTION FINANCE CORPORATION
T a b le 134.
and
RECONSTRUCTION FINANCE CORPORATION CAPITAL DISBURSEMENTS
R e tir e m e n ts
D u r in g
M em bers
1935,
o f th e
In su red
C o m m e r c ia l B a n k s N o t
F e d era l R eserve
S y ste m
B Y STATES
R FC
capital
outstanding
December
31, 1934
U n ited S ta te s— t o t a l.
Disburse
ments
Retirements
Other
deductions1
$206,191,526
$20,395,200
$11,286,650
$3,143,596
1,339,675
50.000
2 .044.000
12,927,500
560.000
15,000
205,000
65,000
75.000
175,000
15.000
27,500
180,500
150,000
RFC
capital
outstanding
December
31, 1935
$212,156,4
S ta te
California.
Colorado. .
Connecticut.
District o f C olu m bia.
Florid a............................
G eorgia...........................
Idaho
Illinois.
3,46 8 ,7 0 0
375.000
1.800.000
596.000
1.798.000
20,000
5,000
152.000
3 00.000
24,000
47,500
75,500
3,463,700
223.000
1 .500.000
592.000
1.675.000
50,000
297.500
122,650
51,500
10,000
50,000
3 7.500
52.500
215.000
4 .201.000
7 .831.000
2 ,485,350
2 .635.000
25,000
205.000
4 .106.000
7.036.000
2.500.500
2.456.500
10,000
155.000
1.142.500
145.000
282,500
K en tu c k y .
Louisiana.
M a in e . . .
M arylan d.
3 .596.500
4 .831.000
1.633.000
3 .345.000
2.575.000
230.000
70,000
1.292.500
905.000
102.500
292.500
M ichigan. .
Minnesota .
M ississippi.
M issouri. . .
8,268,776
3.322.000
6 .145.500
3.308.500
684,500
920,900
183.500
10,000
506.500
30,000
119.500
255.000
208.000
206.500
50.000
N ebrask a.............
N e v a d a .................
N ew Hampshire.
N ew Jersey...........
New M e x ic o . . . .
1,954,200
30.000
96,300
50.000
Io w a .
14,558,175
177,500
1,084,675
50.000
2.091.500
12.772.000
575.000
'200,000’
100,000
6 ,078,500
70.000
299,596
’ 25,000
27,500
95,000
200,000
15.000
3 .724.000
4.583.500
2.925.500
4 .050.000
2.575.000
8,770,580
3 .250.500
5.922.500
3 .581.000
664.500
1.905.500
30.000
100.000
20,436,675
232.500
New Y o r k ...........
N orth C arolina.
N orth D a k o ta . .
O h io .......................
O klahom a............
3 1,305,000
3 ,650,850
1,569,000
19,396,500
610,000
193,500
25.000
4 85,000
60.000
4 ,915,000
67,500
35,000
916,000
150,000
30.000
10.000
212,500
26.850.000
3,746,850
1.549.000
18.753.000
60.000
Oregon . . . . . . .
Pennsylvania. .
Rhode Isla n d . .
South C arolina.
South D a k o ta . .
957.000
11.479.000
250.000
1,140,800
1 .256.000
25,000
3 ,881,000
21,000
200,000
7,500
200,000
90.000
4 5.000
43,500
315,500
500.000
6 ,000
953.500
14.960.000
250.000
687,300
979.500
3 ,3 0 6 ,6 0 0
6 .975.000
775.000
7.060.000
4 ,2 7 1 ,2 5 0
140.000
122,500
30.000
150.000
230.000
5 ,000
450.000
275.000
100.000
9 0.000
30.000
99.000
10,000
1.213.000
1.971.000
13.338.000
585.000
5.000
190.000
1,580,000
5.000
62.000
25,000
1,110,000
4 70,000
W ashin gton. . ,
W est Virginia.
W isconsin. . . .
W y o m in g . . . .
1 Due to changes in charter jurisdiction, insured status, etc.
3,341,600
6.557.500
500.000
7.210.000
4 ,392,250
1.156.000
2.136.000
13.338.000
590.000
EARNINGS OF INSURED COMMERCIAL BANKS
Table 135.
E a r n in g s , EXPENSES, AND DISPOSITION OF PROFITS OF OPERATING INSURED COMMERCIAL BANKS, CALENDAR YEARS
1 9 3 4 AND 1 9 3 5
BY CLASS OF B AN K
Banks not members F . R . System 1
Banks members !F . R . System
All insured banks
1934
1934
14,124
14,110
5,386
362,740
314,217
339,272
315,726
177,274
159,574
18,350
10,750
25,545
19,284
55,896
806,782
20,292
6,887
28,540
24,887
56,633
792,237
410,084
276,998
2,642
79,047
272,104
1,040,875
206,015
173,769
1,577
42,293
132,567
556,221
442,126
250,561
980
1935
1,001
7,682
7,723
7,508
215
159,146
151,488
149,129
75,713
143,319
79,894
141,541
79,077
1,778
817
9,460
7,225
45,449
8,335
29,774
437,091
8,538
5,394
49,170
10,750
29,937
414,423
13,241
519
6,962
6,883
19,288
271,735
15,193
410
7,157
10,008
20,360
276,341
14,898
407
7,101
9,870
20,069
272,963
295
3
56
138
291
3,378
211,242
150,949
429
42,628
142,528
547,776
121,409
69,594
2,060
19,985
80,120
293,168
123,222
57,537
802
21,051
82,141
284,753
73,798
79,666
3,682
14,556
46,142
217,844
75,620
68,512
1,411
15,368
47,435
208,346
74,454
67,821
1,399
15,192
46,606
205,472
1,166
691
12
176
829
2,874
244,461
143,923
129,670
53,891
67,995
67,491
504
<I n thousandIs of dollars)I
R eco v e rie s, p ro fits o n se c u r itie s s o ld , e tc .
Recoveries on loans........................................................
Recoveries on securities and profits on securities
s o ld ....................................................................................
All o th e r...............................................................................
T o ta l reco veries, p ro fits o n s e c u r itie s
s o ld , e t c .....................................................................
52,770
81,675
31,999
47,327
12,390
24,583
8,381
9,765
9,473
292
206,120
32,755
315,937
34,445
119,589
15,224
180,441
12,309
66,002
8,755
96,599
14,766
20,529
8,776
38,897
7,370
38,281
7,040
616
330
291,645
432,057
166,812
240,077
87,147
135,948
37,686
56,032
54,794
1,238
N e t e a rn in g s a n d r e c o v e r ie s .....................................
740,020
874,183
417,373
484,538
231,070
265,618
91,577
124,027
122,285
1,742
CORPORATION
448,375
1934
Operating
Operating
less than
throughout full year or
entire year affected by
mergers, etc.
INSURANCE
N e t e a r n in g s f r o m c u r r e n t o p e r a t i o n s .............
1935
5,462
E a r n in g s fr o m c u r r e n t o p e r a tio n s :
!
689,143 j
Interest and discount on lo a n s................................ i
641,737
Interest and dividends on securities......................|
549,504
547,108
Exchange and collection charges, commissions,:
41,051
44,023
fees, etc............................................................................ i
Foreign departm ent....................................................... j
18,494
12,691
77,956
Trust departm ent........................................................... j
84,867
Service charges on deposit accounts......................
34,502
45,645
104,958
Other current earnings.................................................
106,930
1,515,608
1,483,001
T o ta l e a rn in g s f r o m c u r r e n t o p e r a tio n s
E x pen ses o f c u r r e n t o p e r a t io n s :
i
Salaries and w ages..........................................................
401,222
Interest on deposits.....................................................
323,029
7,319
Interest and discount on borrowed money . . . .
T a x e s......................................................................................
76,834
Other current expenses.................................................
258,829
1,067,233
T o ta l c u r r e n t e x p e n s e s ......................................
|
l
Total
DEPOSIT
N um ber o f b a n k s...............................................................
1934
!
1935
FEDERAL
1935
State
551,644
391,266
47,710
88,619
1,079,239
318,271
239,053
39,815
70,125
667,264
299,085
206,332
29,414
36,531
571,362
159,978
116,182
23,329
26,950
326,439
152,697
114,164
10,008
24,713
301,582
92,396
82,608
10,264
26,568
211,836
99,862
70,770
8,288
27,375
206,295
65,897
40,263
6,222
16,607
128,989
64,956
39,627
5,857
15,972
126,412
941
636
365
635
2,577
N e t a d d itio n to p ro fits fo r c u r r e n t p e rio d . ..
C a s h d iv id e n d s d e cla re d ..........................................
339,219
187,595
206,919
207,317
153,989
91,698
158,099
112,918
70,512
81,968
53,782
73,926
114,718
13,929
4,962
20,473
4,127
20,317
835
156
N e t a d d itio n to p ro fits a ft e r c a s h d iv id e n d s.
526,814
398
245,687
45,181
152,480
20,144
128,647
25,435
24,444
991
1E xclu des 2 n ational banks in A laska, 1 bank in H awaii, 11 banks in the D istrict o f C olum bia, and 1 other bank.
N O T E : Italics indicate d eficit or d ed u ction from profits.
OF
INSURED
COMMERCIAL
BANKS
EARNINGS
L o s s e s a n d d e p r e c ia t io n :
On lo a n s...............................................................................
On securities.......................................................................
On banking house, furniture and fixtures..........
Other losses and depreciation...................................
T o t a l lo sse s a n d d e p r e c i a t i o n .......................
T a b le 136.
to
O
EARNINGS, EXPENSES, AND DISPOSITION OF PROFITS OF INSURED COMMERCIAL STATE BANKS, CALENDAR YEAR 1 9 3 5
o
BANKS OPERATING THROUGHOUT ENTIRE YEAR GROUPED BY AMOUNT OF DEPOSITS
Banks with deposits on December 31, 1935 of—
N um ber o f b a n k s.................................................................
8,487
$100,000
and
under
909
$100,000
to
250,000
2,504
$250,000
to
500,000
2,077
$500,000
to
750,000
883
$750,000
to
1,000,000
$1,000,000
to
2,000,000
$2,000,000
to
5,000,000
503
803
475
285
48
34,199
21,756
2,437
143
2,099
2,938
4,620
68,192
70,134
52,062
4,490
421
11,767
5,331
17,476
161,681
100,771
111,385
4,667
5,131
39,659
5,225
18,736
285,574
$5,000,000
Over
to
50,000,000 $50,000,000
(In thousands of dollars)
15,124
4,703
2,617
3
52
980
1,029
24,508
22,099
9,033
3,254
12
65
1,579
1,831
37,873
15,152
7,304
1,805
65
118
1,108
1,478
27,030
115
901
1,127
20,675
28,121
16,870
2,097
25
815
2,334
3,387
53,649
E x pen ses o f c u r r e n t o p e r a tio n s :
Salaries and w ages..........................................................
Interest on deposits........................................................
Interest and discount on borrowed m o n e y . . . .
T a x es......................................................................................
Other current expenses.................................................
T o ta l c u r r e n t e x p e n se s.......................................
196,239
125,000
2,201
36,107
128,138
487,685
1,693
547
42
332
1,062
3,676
7,811
4,281
92
1,420
•4,734
18,338
10.962
8,013
117
2,049
6,821
27.962
7,339
6,281
95
1,410
4,710
19,835
5,442
5,342
95
1,072
3,295
15,246
14,179
13,923
232
2,837
8,733
39,904
17,317
17,403
671
3,471
11,576
50,438
45,525
35,681
836
8,995
30,352
121,389
85,971
33,529
21
14,521
56,855
190,897
N e t e a r n in g s f r o m c u r r e n t o p e r a t i o n s ..........
196,226
1,053
6,170
9,911
7,195
5,429
13,745
17,754
40,292
94,677
34,006
134,588
21,785
226
172
86
1,208
1,977
399
1,607
4,029
666
976
3,165
486
779
2,844
327
1,769
8,050
1,046
2,020
10,429
1,487
6,171
28,673
7,138
19,250
75,249
10,150
11,178
6,253
1,101
R eco v e rie s, p ro fits o n s e c u ritie s s o ld , e t c :
On loan s...............................................................................
On securities.......................................................................
All o th e r..............................................................................
T o ta l reco veries, p ro fits o n se cu ritie s
so ld , e t c ................................................................
190,379
484
3,584
6,302
4,627
3,950
10,865
13,936
41,982
104,649
N e t e a rn in g s a n d r e c o v e r ie s ................................
386,605
1,537
9,754
16,213
11,822
9,379
24,610
31,690
82,274
199,326
L o sses a n d d e p r e c ia tio n :
On lo a n s..........................................................................
On securities..................................................................
On banking house, furniture and fixtures . . .
Other losses and depreciation..............................
T o ta l lo sses a n d d e p r e c ia t io n ..................
156,766
121,926
15,978
42,337
337,007
883
143
165
194
1,385
4,171
1,294
786
859
7,110
5,842
2,682
1,086
1,499
11,109
4,543
2,816
704
934
8,997
3,766
2,555
480
779
7,580
9,932
7,845
1,277
2,986
22,040
14,666
10,939
1,629
3,693
30,927
43,326
32,738
3,647
13,811
93,522
69,637
60,914
6,204
17,582
154,337
CORPORATION
3,165
492
646
1
41
173
211
4,729
INSURANCE
299,943
229,858
23,114
5,801
54,731
20,569
49,895
683,911
DEPOSIT
E a rn in g s f r o m c u r r e n t o p e r a t io n s :
Interest and discount on lo a n s................................
Interest and dividends on securities......................
Collection charges, commissions, fees, etc..........
Foreign d epartm en t.......................................................
Trust dep artm en t...........................................................
Service charges on deposit accounts......................
Other current earnings.................................................
T o ta l e a r n in g s fr o m c u r r e n t o p e r a tio n s
FEDERAL
All
banks
N e t a d d itio n to p ro fits fo r c u r r e n t p e rio d . . .
C a sh d iv id e n d s d e c la r e d .............................................
49,598
93,838
152
256
2,644
1,656
5,104
2,647
2,825
1,895
1,799
1,408
2,570
3,880
763
5,066
11,248
15,067
44,989
61,963
N e t a d d itio n to p ro fits a fte r c a s h d iv id e n d s.
44,240
104
988
2,457
930
391
1,310
4,303
26,315
16,974
N um ber of officers................................................................
27,558
80,362
1,460
498
5,269
2,249
5,309
3,614
2,621
2,632
NOTE:
3,018
1,622
3 ,176
2,267
5,418
N um1,976
ber o f em ploy
ees........................................................
7,299
20,415
2,816
36,261
Italics indicate deficit or d ed u ction from profits.
EARNINGS
OF
INSURED
COMMERCIAL
BANKS
201
202
T a b le 137.
EARNINGS, EXPENSES, AND DISPOSITION OF PROFITS, RATIOS, INSURED COMMERCIAL STATE BANKS, CALENDAR YEAR 1 9 3 5
BANKS
O P E R A T IN G
TH RO U G H O U T
E N T IR E
YEAR
GROUPED
BY
AMOUNT
OF
D E PO SITS
Banks with deposits on December 31, 1935 of—
All
banks
$100,000
to
250,000
$250,000
to
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
Over
to
50,000,000 $50,000,000
2,504
2,077
883
503
803
475
285
48
A m o u n t s per $100 o f t o t a l e a rn in g s
E a rn in g s f r o m c u r r e n t o p e r a t io n s :
Interest and discount on lo a n s ................................
Interest and dividends on securities......................
Exchange and collection charges.............................
Trust d epartm en t...........................................................
Service charges on deposit accounts......................
Other earnings..................................................................
T o t a l e a r n in g s f r o m c u r r e n t o p e r a tio n s
$43.86
33.61
3.38
8.00
3.01
8.14
100.00
$66.93
10.40
13.66
.87
3.66
4.48
100.00
$61.71
19.19
10.68
.21
4.00
4.21
100.00
$58.35
23.85
8.59
.17
4 .17
4 .8 7
100.00
$56.05
27.02
6.68
.44
4.10
5.71
100.00
$54.06
30.24
5.33
.56
4 .36
5.45
100.00
$52.42
31.44
3.91
1.52
4.35
6.36
100.00
$50.15
31.91
3.57
3.08
4.31
6.98
100.00
$43.38
32.20
2.78
7.27
3.30
11.07
100.00
$35.29
39.00
1.63
13.89
1.83
8.36
100.00
E x p en ses o f c u r r e n t o p e r a t io n s :
Salaries and w ages..........................................................
Interest on deposits......................................................
T axes......................................................................................
Other expenses..................................................................
T o ta l c u r r e n t e x p e n s e s .......................................
$28.69
18.28
5.28
19.06
71.31
$35.80
11.57
7.02
23.34
77.73
$31.87
17.47
5.79
19.69
74.82
$28.94
21.16
5.41
18.32
73.83
$27.15
23.24
5.22
17.77
73.38
$26.32
25.84
5.18
16.40
73.74
$26.43
25.95
5.29
16.71
74.38
$25.39
25.52
5.09
17.96
73.96
$28.16
22.07
5.56
19.29
75.08
$30.10
11.74
5.09
19.92
66.85
N e t e a r n in g s f r o m c u r r e n t o p e r a t io n s .............
$28.69
$22.27
$25.18
$26.17
$26.62
$26.26
$25.62
$26.04
$24.92
$33.15
A m o u n t s per $100 o f to t a l a sse ts
Total earnings from current operations....................
Total current expenses......................................................
$ 3.11
2.22
$ 5.62
4.37
$ 4.89
3.66
$ 4.58
3.38
$ 4.39
3.22
$ 4.23
3.12
$ 4.20
3.12
$ 4.14
3 .06
$ 3.77
2.83
$ 2.33
1.56
N e t e a rn in g s f r o m c u r r e n t o p e r a t io n s .............
Recoveries, profits on securities, etc...........................
$
.89
.87
$ 1.25
.58
$ 1.23
.72
$ 1.20
.76
$ 1.17
.75
$ 1.11
.81
$ 1.08
.84
$ 1.08
.85
$
$
N e t e a r n in g s a n d r e c o v e r ie s .....................................
Losses and depreciation on assets................................
$ 1.76
1.53
$ 1.83
1.65
$ 1.95
1.42
$ 1.96
1.34
$ 1.92
1.46
$ 1.92
1.55
$ 1.92
1.72
$ 1.93
1.88
$ 1.92
2.18
$ 1.63
1.26
N e t a d d itio n to pro fits fo r c u r r e n t p e rio d . . .
Cash dividends declared...................................................
$
.23
.43
$
.18
.30
$
.53
.33
$
.62
.32
$
.46
.31
$
.37
.29
$
.20
.30
$
.05
.31
$
.26
.35
$
.37
.51
N e t a d d itio n to p ro fits a fte r c a sh d iv id e n d s.
$
.20
$
.12
$
.20
$
.30
$
15
$
.08
$
.10
$
.26
$
.61
$
.14
.94
.98
.77
.86
CORPORATION
909
INSURANCE
8,487
DEPOSIT
N um ber o f b an k s..................................................................
FEDERAL
$100,000
and
under
$ 6.41
6.22
$ 4.50
2.07
$ 6.27
3.65
$ 7.24
4.61
$ 7.36
4.74
$ 7.44
5.42
$ 6.72
5.31
$ 6.79
5.33
$ 6.37
6.64
$ 6.17
6.82
N e t e a r n in g s a n d r e c o v e r ie s .....................................
Losses and depreciation on assets................................
$12.63
11.01
$ 6.57
5.92
$ 9.92
7.23
$11.85
8.12
$12.10
9.21
$12.86
10.39
$12.03
10.77
$12.12
11.83
$13.01
14.79
$12.99
10.06
N e t a d d itio n to p ro fits fo r c u r r e n t p e rio d . .
Cash dividends declared...................................................
$ 1.62
3.06
$
.65
1.09
$ 2.69
1.68
$ 3.73
1.93
$ 2.89
1.94
$ 2.47
1.93
$ 1.26
1.90
$
.29
1.94
$ 1.78
2.38
$ 2.93
4.04
N e t a d d itio n to p ro fits a ft e r c a s h d iv id e n d s .
$ 1.44
$
.44
$ 1.01
$ 1.80
$
$
$
$ 1.65
$ 4.16
$ 1.11
NOTE:
Italics indicate deficit or d edu ction from profits.
.54
.64
OF
INSURED
COMMERCIAL
BANKS
203
.95
EARNINGS
A m o u n t s per $100 o f t o t a l c a p ita l a c c o u n t
N e t earnings from current operations......................
Recoveries, profits on securities, etc...........................
R
204
T a b le 138.
EARNINGS, EXPENSES, AND DISPOSITION OF PROFITS OF INSURED COMMERCIAL STATE BANKS
e p o r t in g N e t E a r n in g s F r o m C u r r e n t O p e r a t io n s , C a l e n d a r Y e a r 193 5
B A N K S OPERATING THROUGHOUT EN TIR E YE AR GROUPED B Y AM OUNT OF DEPOSITS
Banks with deposits on December 31, 1935 of—
$100,000
and
under
$100,000
to
250,000
$250,000
to
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
Over
$5,000,000
485
772
464
327
33,669
21,323
2,401
135
2,055
2,883
4,524
66,990
168,593
162,439
9,111
5,543
51,147
10,298
35,439
442,570
851
8,080
807
2,381
1,993
E a rn in g s fr o m c u r r e n t o p e r a tio n s :
Interest and discount on lo a n s.........................................................
Interest and dividends on securities..............................................
Collection charges, commissions, fees, etc..................................
Foreign departm ent...............................................................................
Trust departm ent...................................................................................
Service charges on deposit accounts..............................................
Other current earnings.........................................................................
T o ta l e a rn in g s f r o m c u r r e n t o p e r a t i o n s ......................
294,239
226,743
22,635
5,769
54,350
19,989
48,489
672,214
2,923
452
586
1
41
160
197
4,360
14,546
4,521
2,512
3
52
942
967
23,543
21,489
8,695
3,170
12
46
1,527
1,745
36,684
14,797
7,059
1,741
63
118
1,061
1,406
26,245
10,818
6,084
1,056
111
869
1,034
19,972
27,404
16,170
2,058
12
780
2,249
3,177
51,850
E x pen ses o f c u r r e n t o p e r a tio n s :
Salaries and w ages..................................................................................
Interest on deposits................................................................................
Interest and discount on borrowed m o n e y ................................
T a x e s..............................................................................................................
Other current expenses.........................................................................
T o ta l c u r r e n t e x p e n s e s ...............................................................
191,915
121,620
2,007
34,934
124,535
475,011
1,500
483
37
296
940
3,256
7,365
4,054
79
1,334
4,451
17,283
10,467
7,652
98
1,964
6,459
26,640
6,985
6,057
81
1,346
4,496
18,965
5,182
5,141
77
991
3,099
14,490
13,501
13,402
133
2,667
8,201
37,904
16,790
16,975
648
3,391
11,309
49,113
130,125
67,856
854
22,945
85,580
307,360
N e t e a rn in g s f r o m c u r r e n t o p e r a t i o n s .....................................
197,203
1,104
6,260
10,044
7,280
5,482
13,946
17,877
135,210
33,355
132,758
21,272
201
143
67
1,121
1,849
341
1,533
3,780
613
939
2,908
445
732
2,738
298
1,611
7,592
955
1,997
10,163
1,475
25,221
103,585
17,078
187,385
411
3,311
5,926
4,292
3,768
10,158
13,635
145,884
N e t e a rn in g s a n d r e c o v e r ie s .............................................................
384,588
1,515
9,571
15,970
11,572
9,250
24,104
31,512
281,094
L o sse s a n d d e p r e c ia tio n :
On lo a n s.......................................................................................................
On securities..............................................................................................
On banking house, furniture and fixtures..................................
Other losses and depreciation...........................................................
T o ta l lo sses a n d d e p r e c ia t io n ...............................................
148,148
117,274
15,687
38,827
319,936
792
137
148
174
1,251
3,859
1,251
733
775
6,618
5,579
2,552
990
1,420
10,541
4,212
2,581
672
876
8,341
3,565
2,460
474
712
7,211
8,818
7,683
1,226
2,144
19,871
14,365
10,014
1,626
3,511
29,516
106,958
90,596
9,818
29,215
236,587
N um ber o f b a n k s.........................................................................................
INSURANCE
CORPORATION
(In tho usands o f d<)llars)
DEPOSIT
R eco v e rie s, pro fits o n s e c u ritie s so ld , e tc :
On lo a n s.......................................................................................................
On securities..............................................................................................
All o th e r.......................................................................................................
T o ta l reco v eries, pro fits o n s e c u r itie s
s o ld , e t c .............................................................................................
FEDERAL
All
banks
N e t a d d itio n to p ro fits fo r c u r r e n t p e rio d . .
C a sh d iv id e n d s d e c la r e d ..................................................~
N e t a d d itio n to p ro fits a ft e r c a s h d iv id e n d s. ....................
N um ber o f officers.......................................
N um ber o f em ployees...........................
NOTE:
"’
** ’ ‘ ’ ' '
64,652
9 3 ,6 3 'j
264
247
2,953
1,629
5,429
2 ,6 0 8
3,231
1,871
2,039
1,392
4 ,2 3 3
3 ,8 2 0
28,9 86
17
1,3 2 4
2*821
1,360
647
26 ,483
i,618
1,286
450
4 ,a §3
2,134
5,098
3 ,450
2,519
2,515
1,555
1,878
1,996 !i
5,041
44,507
77,030
413
3,045
32,523
2,911
5,120
2*214
7,034
5,905
56,037
Italics indicate deficit or de4.u.cti.O.», from profits.
EARNINGS
OF
INSURED
COMMERCIAL
BANKS
205
206
Table 139.
EARNINGS, EXPENSES, AND DISPOSITION OF PROFITS OF INSURED COMMERCIAL STATE BANKS
R
e p o r t in g
N
et
L
osses
F rom
Current
O p e r a t io n s , C a l e n d a r
Y
ear
1935
B A N K S O P E R A T IN G TH RO U G H O U T E N T IR E Y E A R G R O U P E D B Y A M O U N T OF D E PO SITS
Banks with deposits on December 31, 1935 of—
$100,000
and
under
$100,000
to
250,000
$250,000
to
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
Over
$5,000,000
18
31
11
6
360
169
45
530
433
36
8
44
55
96
1,202
2,312
1,008
46
9
279
258
773
4,685
32
407
102
123
84
5,704
3,115
479
32
381
580
1,406
11,697
242
40
60
578
182
105
610
338
84
13
14
369
38
62
965
19
52
86
1,189
47
72
785
4
32
93
703
717
700
39
13
35
85
210
1,799
.
.............................
............................................
4,324
3,380
194
1,173
3,603
12,674
193
64
5
36
122
420
446
227
13
86
283
1,055
495
361
19
85
362
1,322
354
224
14
64
214
870
260
201
18
81
196
756
678
521
99
170
532
2,000
527
428
23
80
267
1,325
1,371
1,354
3
571
1,627
4,926
N e t losses f r o m c u r r e n t o p e r a t io n s ............................................
977
51
90
133
85
53
201
123
241
651
1,830
513
25
29
19
87
128
58
74
249
53
37
257
41
47
106
29
158
458
91
23
266
12
200
337
210
2,994
73
273
376
335
182
707
301
747
243
250
129
506
178
506
263
130
96
79
568
1,114
162
51
842
2,169
301
925
3
182
1,411
6,005
3,056
33
2,178
11,272
FEDERAL
banks
(In the>usands of d<ollars)
E x p en ses
Salaries
Interest
Interest
o f c u r r e n t o p e r a t io n s :
and wages
.
..................................................................
.............
.....................................................
on deposits
and discount on borrowed m oney .............................
.
R eco v e rie s, p ro fits o n se c u ritie s s o ld , e t c :
On loans
.
.
...........................................................................
On securities . . .
...........................................................................
T o ta l reco v eries, p ro fits o n se c u r itie s
s o ld , e tc . .
...........................................................................
...................................................
2,017
22
183
On banking house furniture and fixtures..................................
Other losses and depreciation...........................................................
T o ta l losses a n d d e p r e c ia t io n ...............................................
8,618
4,652
291
3,510
17,071
91
6
17
20
134
312
43
53
84
492
N e t lo sses a n d reco veries
.
L o sse s a n d d e p r e c ia tio n :
___
331
201
235
95
32
6
58
67
369
656
_________' __________ ___
.. .
CORPORATION
Other current expenses
T o ta l c u r r e n t exp en ses
INSURANCE
Collection charges commissions, fees, etc.................................
Foreign departm ent
............
Trust departm ent
......................
Service charges on deposit accounts..............................................
Other current earnings.........................................................................
T o ta l e a rn in g s f r o m c u r r e n t o p e r a t i o n s .....................
355
245
64
2
DEPOSIT
E a r n in g s f r o m c u r r e n t o p e r a t io n s :
N e t d e d u c t io n fr o m p ro fits fo r c u r r e n t period
G ash d iv id e n d s d e c la r e d .....................................................................
15,054
200
112
9
309
27
325
39
406
24
240
16
1,663
60
1,233
25
10,766
I
N e t d e d u c t io n f r o m
p ro fits a fte r cash
d iv id e n d s ...................................................................................................
15,254
121
336
364
430
256
1,723
1,258
10,766
1,075
1,744
174
48
274
115
211
164
102
117
67
98
107
298
53
265
87
639
N um ber o f officers.......................................................................................
N um ber o f em ployees................................................................................
OF
INSURED
COMMERCIAL
BANKS
207
EARNINGS
N O T E : Italics in dica te deficit or d ed u ction from profits.
T a b le 140.
AVERAGES PER B A N K OF EARNINGS, EXPENSES, AND DISPOSITION OF PROFITS OF INSURED COMMERCIAL STATE BANKS
R e p o r t in g n e t E a r n in g s F rom C u r r e n t O p e r a t io n s , C a l e n d a r Y e a r 1 9 3 5
BANKS
O P E R A T IN G
T H RO U G H O U T
E N T IR E
YEAR
GROUPED
BY
AM OUN T
OF
g
oo
D E PO SITS
Banks with deposits on December 31, 1935 of—
$100,000
and
under
$100,000
to
250,000
$250,000
to
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
Over
$5,000,000
1,993
851
485
772
464
327
Interest and dividends on securities..............................................
Collection charges, commissions, fees, etc..................................
Foreign d epartm en t...............................................................................
Trust d epartm en t....................................................................................
Service charges on deposit accounts..............................................
Other current earnings.........................................................................
T o ta l e a rn in g s f r o m c u r r e n t o p e r a t i o n s .....................
$36,416
28,062
2,801
714
6,726
2,474
6,001
83,194
$ 3,622
560
726
1
51
199
244
5,403
$ 6,109
1,899
1,055
1
22
396
406
9,888
$10,782
4,363
1,591
6
23
766
876
18,407
$17,388
8,295
2,046
74
139
1,247
1,652
30,841
$22,305
12,544
2,177
229
1,792
2,132
41,179
$35,497
20,946
2,666
16
1,010
2,913
4,115
67,163
$72,562
45,955
5,175
291
4 ,429
6,213
9,750
144,375
$515,575
4 96,756
27,862
16,951
156,413
31,492
108,376
1,353,425
E x p en ses o f c u r r e n t o p e r a t i o n s :
Salaries and w a g es..................................................................................
Interest on deposits................................................................................
Interest and discount on borrowed m o n e y ................................
T a x es..............................................................................................................
Other current expenses.........................................................................
T o ta l c u r r e n t e x p e n s e s ...............................................................
$23,752
15,052
248
4,323
15,413
58,788
$ 1,859
598
46
367
1,165
4,035
$ 3,093
1,703
33
560
1,870
7,259
$5,252
3 ,839
49
986
3,241
13,367
$ 8,208
7,118
95
1,582
5,283
22,286
$10,684
10,600
159
2,043
6,390
29,876
$17,488
17,360
172
3,455
10,623
49,098
$36,185
36,584
1,397
7,308
24,373
105,847
$397,936
207,511
2,612
70,168
261,712
939,939
N e t e a r n in g s f r o m c u r r e n t o p e r a t i o n s .....................................
$24,406
$ 1,368
$ 2,629
$ 5,040
$ 8,555
$11,303
$18,065
$38,528
$413,486
$ 4,128
16,430
2,633
$
$
$
$ 1,103
3,417
523
$1,509
5,645
615
$ 2,087
9,834
1,237
$ 4,304
21,903
3,179
$ 77,129
316,774
52,226
E a rn in g s f r o m c u r r e n t o p e r a tio n s :
R eco v e rie s, p ro fits o n se c u r itie s so ld , e tc :
On lo a n s.......................................................................................................
All o th e r.......................................................................................................
T o ta l reco veries, p ro fits o n s e c u r itie s
N e t e a r n in g s a n d r e c o v e r ie s .............................................................
249
177
83
471
777
143
23,191
509
1,391
2,973
5,043
7,769
13,158
29,386
446,129
$47,597
$ 1,877
$ 4,020
$8,013
$13,598
$ i9 ,0 7 2
$31,223
$67,914
$859,615
$18,335
14,514
1,941
4,805
39,595
$
$ 1,621
525
308
326
2,780
$ 2,799
1,280
497
713
5,289
$ 4,949
3,033
790
1,029
9,801
$ 7,351
5,072
977
1,468
14,868
$11,423
9,952
1,588
2,777
25,740
$30,959
21,582
3,504
7,567
63,612
$327,089
277,052
30,024
89,343
723,508
L o sses a n d d e p r e c ia tio n :
On banking house, furniture and fixtures..................................
Other losses and depreciation...........................................................
T o t a l lo sse s a n d d e p r e c i a t i o n ...............................................
769
1,897
307
981
170
183
216
1,550
CORPORATION
2,381
INSURANCE
807
DEPOSIT
8,080
N um ber o f b an k s.........................................................................................
FEDERAL
All
banks
N e t a d d itio n to p ro fits fo r c u r r e n t p e r io d .............................
C a s h d iv id e n d s d e c la r e d ................................................................
$ 8 ,0 0 2
11,589
$
327
306
N e t a d d itio n to p ro fits a ft e r c a s h d iv id e n d s ..........................
$ 3,587
$
21
N um ber o f officers..................................................................................
N um ber o f em ployees..............................................................................
3
2
10
1
$ 1,240
684
$ 2,724
1,309
$ 3,797
2 199
$ 4 ,204
2 870
$ 5,483
4 948
$ 4,302
10 864
$136,107
ZOO,OOO
$
556
$ 1,415
$ 1,598
$ 1,334
$
535
$ 6,552
£ 99,459
2
1
3
3
3
7
1c
ID
18
1
i. 71
/1
2
O
o
A
g
N O T E : Italics in dica te deficit or dedu ction from profits.
EARNINGS
OF
INSURED
COMMERCIAL
BANKS
210
T a b le 141.
AVERAGES PER B A N K OF EARNINGS, EXPENSES, AND DISPOSITION OF PROFITS OF INSURED COMMERCIAL STATE BANKS
R
e p o r t in g
N
et
L o sses F rom
C urrent
O p e r a t io n s ,
Calendar
Y
ear
1935
B A N K S O P E R A T IN G TH RO U G H O U T E N T IR E Y E A R G R O U P E D B Y A M O U N T OF D E PO SITS
Banks with deposits on December 31, 1935 of—
$100,000
and
under
$100,000
to
250,000
$250,000
to
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
Over
84
32
18
31
11
6
E a rn in g s f r o m c u r r e n t o p e r a t io n s :
Interest and discount on loans .........................................................
Interest and dividends on securities..............................................
Collection charges, commissions, fees, e tc ..................................
Foreign d e partm en t...............................................................................
Trust de partm ent....................................................................................
Service charges on deposit accounts..............................................
Other current earnings.........................................................................
T o ta l e a r n in g s fr o m c u r r e n t o p e r a t i o n s .....................
$14,015
7,654
1,177
79
936
1,425
3,454
28,740
$ 2,373
392
588
$ 4,699
1,480
853
$ 7,262
4,024
1,000
$11,094
7,656
2,000
62
$20,000
9,389
2,500
128
137
3,618
309
504
7,845
226
619
1,024
14,155
1,469
2,250
24,531
222
1,778
5,167
39,056
$23,129
22,581
1,258
419
1,129
2,742
6,774
58,032
$48,182
39,364
3,273
727
4.000
5.000
8,727
109,273
$385,333
168,000
7,667
1,500
46,500
43,000
128.833
780.833
E x p en ses o f c u r r e n t o p e r a t io n s :
Salaries and w ages...................................................................................
Interest on deposits................................................................................
Interest and discount on borrowed m o n e y ...............................
T a x e s............................................................................................................
Other current expenses.......................................................................
T o ta l c u r r e n t e x p e n s e s .............................................................
$10,624
8,305
477
2,882
8,852
31,140
$ 1,892
628
49
353
1,196
4,118
$ 3,626
1,845
106
699
2,301
8,577
$ 5,893
4,298
226
1,012
4,309
15,738
$11,062
7.000
437
2.000
6,688
27,187
$14,444
11,167
1,000
4,500
10,889
42,000
$21,871
16,806
3,194
5,484
17,161
64,516
$47,909
38,909
2,091
7,273
24,273
120,455
$228,500
225,667
500
95,167
271,166
821,000
N e t lo sses f r o m c u r r e n t o p e r a t io n s ............................................
$ 2,400
$
500
$
732
$ 1,583
$ 2,656
$ 2,944
$ 6,484
$11,182
$40,167
R eco v e rie s, pro fits o n se c u r itie s s o ld , e tc :
On loans . .....................................................................................................
On securities.............................................................................................
All o th e r.......................................................................................................
T o t a l reco v eries, p ro fits o n s e c u r itie s s o ld , e tc :
$ 1,600
4,496
1,260
7,356
$
245
285
186
716
$
707
1,041
472
2,220
881
2,964
631
4,476
$ 1,156
8,032
1,281
10,469
$ 2,611
5,889
1,611
10,111
$ 5,097
14,774
2,935
22,806
$ 2,091
24,182
1,091
27,364
$ 33,333
56,167
35,000
124,500
N e t lo sses a n d r e c o v e r ie s ....................................................................
$ 4,956
$
216
$ 1,488
$ 2,893
$ 7,813
$ 7,167
$16,322
$16,182
$84,333
L o sses a n d d e p r e c ia t io n :
On lo a n s.......................................................................................................
On securities...............................................................................................
On banking house, furniture and fixtures..................................
Other losses and depreciation...........................................................
T o ta l lo sses a n d d e p r e c ia t io n ...............................................
$21,175
11,430
715
8,624
41,944
$
892
59
167
196
1,314
$ 2,536
350
431
683
4,000
$ 3,131
1,548
1,143
940
6,762
$10,344
7,344
1,000
1,812
20,500
$11,167
5,278
333
3,722
20,500
$35,935
5,226
1,645
27,161
69,967
$27,364 $1,000,833
509,333
84,091
5,500
273
363,000
16,545
1,878,666
128,273
$
CORPORATION
123
INSURANCE
102
DEPOSIT
407
N um ber o f banks
FEDERAL
All
banks
N e t d e d u c t io n s f r o m p ro fits fo r c u rre n t p e r io d . .
C a s h d iv id e n d s d e c la r e d .....................................................................
$36,988
491
$ 1,098
88
$ 2,512
220
$ 3,869
464
$12,687
750
$13,333
889
$53,645
1,935
$112,091 $1,794,333
2,273
N et
ca sh d ividen ds
$37,479
$ 1,186
$ 2,732
$ 4,333
$13,437
$14,222
$55,580
$114,394 $1,794,333
N um ber o f officers.......................................................................................
N um ber o f em ployees................................................................................
3
4
2
1
2
1
3
2
3
4
4
5
4
10
d e d u c t io n s
p r o fits
a fte r
Italics indicate deficit or dedu ction from profits.
15
107
OF
INSURED
COMMERCIAL
BANKS
5
24
EARNINGS
NOTE:
fr o m
T a b le 142.
to
E a r n i n g s , E x p e n s e s , AND DISPOSITION OF PROFITS, RATIOS, INSURED COMMERCIAL STATE BANKS
R
e p o r t in g
N
et
E a r n in g s F ro m C u r r e n t O p e r a t io n s , C a l e n d a r Y
ear
i—1
to
1935
B A N K S O P E R A T IN G TH RO U G H O U T E N T IR E Y E A R G R O U P E D B Y A M O U N T OF D E PO SITS
Banks with deposits on December 31, 1935 of—
$100,000
and
under
$100,000
to
250,000
$250,000
to
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
Over
$5,000,000
1,993
851
485
772
464
327
$43.77
33.73
3.37
8.08
2.97
8.08
100.00
$67.04
10.36
13.44
.94
3.67
4.55
100.00
$61.78
19.20
10.67
.22
4.00
4.13
100.00
$58.58
23.70
8.64
.13
4 .16
4.79
100.00
$56.38
26.89
6.63
.45
4.04
5.61
100.00
$54.17
3 0.46
5.29
.55
4 .35
5.18
100.00
$52.85
31.19
3.97
1.50
4 .34
6.15
100.00
$50.26
31.83
3 .58
3 .07
4.30
6.96
100.00
$38.09
36.70
2.06
11 56
2.33
9.26
100 00
$28.55
18.09
5.20
18.82
70.66
$34.40
11.07
6.79
22.42
74.68
$31.28
17.22
5.67
19.24
73.41
$28.53
20.86
5.35
17.88
72.62
$26.61
23.08
5.13
17.44
72.26
$25.95
25.74
4 .9 6
15.90
72.55
$26.04
25.85
5.14
16.07
73.10
$25.06
25.34
5.06
17.85
73.31
$29.40
15.33
5.19
19 53
69.45
$29.34
$25.32
$26.59
$27.38
$27.74
$27.45
$26.90
$26.69
$30.55
$ 3.11
2.20
$ 5.79
4.32
$ 4.93
3.62
$ 4.62
3 .36
$ 4 .48
3.24
$ 4.25
3.08
$ 4.24
3.10
$ 4.1 6
3.05
$ 2.69
1.87
N e t e a r n in g s f r o m c u r r e n t o p e r a t i o n s .....................................
Recoveries, profits on securities, etc...................................................
$
.91
.87
$ 1.47
.54
$ 1.31
.70
$ 1.26
.75
$ 1.24
.73
$ 1.17
.80
$ 1.14
.83
$ 1.11
.85
$
N e t e a r n in g s a n d r e c o v e r ie s .............................................................
Losses and depreciation on assets........................................................
$ 1.78
1.48
$ 2.01
1.66
$ 2.01
1.39
$ 2.01
1.33
$ 1.97
1.42
$ 1.97
1.54
$ 1.97
1.63
$ 1.96
1.84
$ 1.71
1.44
N e t a d d itio n to p ro fits fo r c u r r e n t p e r io d .............................
$
.30
.43
$
.35
.33
$
.62
.34
$
.68
.33
$
.55
.32
$
.43
.30
$
.34
.31
$
.12
.31
$
.27
.47
N e t a d d itio n to p ro fits a fte r c a s h d iv id e n d s ........................
$
.13
$
.02
$
.28
$
.35
$
.23
$
.13
$
.03
$
.19
$
.20
A m o u n t s per $100 o f t o t a l e a r n in g s
E a r n in g s f r o m c u r r e n t o p e r a t io n s :
Interest and discount on loans .........................................................
Interest and dividends on securities..............................................
Exchange and collection charges.....................................................
Trust d e partm en t....................................................................................
Service charges on deposit accounts..............................................
Other earnings..........................................................................................
T o ta l e a r n in g s f r o m c u r r e n t o p e r a t i o n s .....................
E x p en ses o f c u r r e n t o p e r a t io n s :
Salaries and w ages...................................................................................
Interest on deposits................................................................................
Other expenses..........................................................................................
N e t e a r n in g s f r o m c u r r e n t o p e r a t i o n s ....................................
A m o u n t s per $100 o f to t a l a sse ts
T o ta l earnings from current operations............................................
.82
.89
CORPORATION
2,381
INSURANCE
807
DEPOSIT
8,080
FEDERAL
All
banks
$ 6.56
6.24
$ 5.25
1.95
$ 6.71
3.55
$ 7.66
4.52
$ 7.82
4.61
$ 7.89
5.42
$ 7.25
5.28
$ 7.01
5.34
$ 6.29
6.78
N e t e a r n in g s a n d r e c o v e r ie s ...................................
Losses and depreciation on assets..............................
$12.80
10.65
$ 7.20
5.95
$10.26
7.09
$12.18
8.04
$12.43
8.96
$13.31
10.38
$12.53
10.33
$12.35
11.57
$13.07
11.00
N e t a d d itio n to p ro fits fo r c u r r e n t p e r io d . .
Cash dividends declared..................................................
$ 2.15
3.12
$ 1.25
1.17
$ 3.17
1.75
$ 4 .14
1.99
$ 3.47
2.01
$ 2.93
2.00
$ 2.20
1.99
$
.78
1.97
$ 2.07
3.58
N e t a d d itio n to p ro fits a ft e r c a s h d iv id e n d s
$
$
$ 1.42
$ 2.15
$ 1.46
$
$
$ 1.19
$ 1.51
NOTE:
Italics indicate deficit or deduction from profits.
.08
.93
.21
OF
INSURED
COMMERCIAL
BANKS
213
.97
EARNINGS
A m o u n t s p e r $100 o f t o t a l c a p it a l a c o u n t
N e t earnings from current op erations.....................
Recoveries, profits on securities, etc.........................
214
T a b le 143.
EARNINGS, EXPENSES, AND DISPOSITION OF PROFITS, RATIOS, INSURED COMMERCIAL STATE BANKS
R e p o r t in g N e t L osses F rom C u r r e n t O p e r a t io n s , C a l e n d a r Y e a r 1 9 3 5
B A N K S O P E R A T IN G T H RO U G H O U T E N T IR E Y E A R G R O U P E D B Y A M O U N T OF D E PO SITS
Banks with deposits on December 31, 1935 of—
$100,000
to
250,000
$100,000
and
under
$250,000
to
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
Over
$5,000,000
84
32
18
31
11
6
A m o u n t s p e r $100 o f t o t a l e a rn in g s
E a rn in g s f r o m c u r r e n t o p e r a t io n s :
Interest and discount on lo a n s .........................................................
Interest and dividends on securities..............................................
Exchange and collection ch arges....................................................
Trust departm ent . .
. ..
Service charges on deposit accounts..............................................
Other earn ings..........................................................................................
T o t a l e a r n in g s f r o m c u r r e n t o p e r a t i o n s .....................
$48.76
26.63
4.10
3.26
4.96
12.29
100.00
$65.58
10.84
16.26
$59.90
18.86
10.88
$45.22
31.21
8.15
3.52
3.80
100.00
3.94
6.42
100.00
$51.30
28.43
7.06
1.60
4 .37
7.24
100.00
5.99
9.43
100.00
$51.21
24.04
6.40
.57
4.55
13.23
100.00
$39.86
38.91
2.17
1.95
4.72
12.39
100.00
$44.09
36.02
2.99
3.66
4 .58
8.66
100.00
$49.36
21.51
.98
5.95
5.51
16.69
100.00
E x p en ses o f c u r r e n t o p e r a t io n s :
Salaries and w a g es..................................................................................
Interest on deposits................................................................................<
T a x es.............................................................................................................. i
Other expenses.......................................................................................... !
j
T o t a l c u r r e n t e x p e n s e s ............................................................... 1
$36.97
28.90
10.03
32.45
108.35
$52.30
17.34
9.76
34.42
113.82
$46.22
23.52
8.91
30.67
109.32
$41.63
30.36
7.15
32.05
111.19
$45.10
28.54
8.15
29.04
110.83
$36.99
28.59
11.52
30.44
107.54
$37.69
28.96
9.45
35.07
111.17
$43.84
35.61
6.66
24.12
110.23
$29.26
28.90
12.19
34.79
105.14
N e t lo sse s f r o m c u r r e n t o p e r a t i o n s .........................................
$ 8.35
$13.82
$ 9.32
$11.19
$10.83
$ 7.54
$11.17
$10.23
$ 5.14
A m o u n t s per $100 o f t o t a l a s s e ts
T otal earnings from current operations............................................ j
T otal current exp enses..............................................................................
$ 3.51
3.80
$ 4.20
4.78
$ 3.92
4.28
$ 3.60
4.00
$ 2.57
2.84
$ 3.69
3.97
$ 3.12
3.47
$ 3.23
3.56
$ 3.82
4.02
N e t losses f r o m c u r r e n t o p e r a t i o n s ............................................
Recoveries, profits on securities, etc...................................................
$
.29
.90
$
.58
.83
$
.36
1.10
$
.40
1.14
$
.27
1.09
$
.28
.96
$
.35
1.23
$
.33
.81
$
N e t lo sses less r e c o v e r ie s .....................................................................
Losses and depreciation on assets........................................................
$
.61
5.12
$
.25
1.53
$
.74
2.00
$
.74
1.72
$
.82
2.15
$
.68
1.94
$
.88
3 .76
$
.48
3.79
$
N e t d e d u c t io n f r o m p ro fits fo r c u r r e n t p e r io d ..................... i
Cash dividends declared. . . .
.................
.... \
$ 4.51
.06
$ 1.28
.10
$ 1.26
.10
$
.98
.12
$ 1.33
.08
$ 1.26
.08
$ 2.88
.10
$ 3.31
.07
$ 8.78
N e t d e d u c t io n f r o m p ro fits a ft e r ca sh
$ 4.57
$ 1.38
$ 1.36
$ 1.10
$ 1.41
$ 1.34
$ 2.98
$ 3.38
$ 8.78
d i v i d e n d s ...........
I
.20
.61
.41
9.19
CORPORATION
123
INSURANCE
102
DEPOSIT
407
FEDERAL
All
banks
$ 1.70
5.20
$ 2.16
3.09
$ 1.78
5.41
$ 2 .°4
6.61
$
7.35
$ 1.53
5.26
$ 1.64
5.78
$ 1.94
4.76
$ 1.35
4.17
N e t lo sses less r e c o v e r ie s ....................................................................
Losses and depreciation on assets.......................................................
$ 3.50
29.65
$
.93
5.67
$ 3.63
9.75
$ 4 .27
9.98
$ 5.49
14.41
$ 3.73
10.68
$ 4.14
17.75
$ 2.82
22.31
$ 2.82
62.96
N e t d e d u c tio n f r o m p ro fits fo r c u r r e n t p e r io d .....................
Cash dividends declared...........................................................................
$26.15
.35
$ 4.74
.38
$ 6.12
.53
$ 5.71
.69
$ 8.92
.53
$ 6.95
.46
$13.61
.49
$19.49
.40
$60.14
N e t d e d u c t io n f r o m p ro fits a ft e r c a s h d iv id e n d s ............
$26.50
$ 5.12
$ 6.65
$ 6.40
$ 9.45
$ 7.41
$14.10
$19.89
$60 14
N O T E : Italics indicate deficit or dedu ction from profits.
OF
INSURED
COMMERCIAL
BANKS
215
.86
EARNINGS
A m o u n t s per $100 o f t o t a l c a p it a l a c c o u n t
N e t losses from current operations.....................................................
Recoveries, profits on securities, etc..................................................
216
Table 144.
E A R N I N G S , E X P E N S E S , AN D D IS P O S IT IO N OF P R O F IT S OF O P E R A T IN G IN S U R E D C O M M E R C IA L B A N K S NOT
M em bers
of
the
F ederal
R eserve
Sy st e m , C a le n d a r
Y ear
1935
B A N K S O P E R A T IN G TH RO U G H O U T E N T IR E Y E A R G RO U P E D B Y A M O U N T OF D EPO SITS
All
banks
$100,000
to
250,000
$250,000
to
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
Over
to
50,000,000 $50,000,000
DEPOSIT
N um ber of banks .
$100,000
and
under
757
141,541
79,077
8,235
6,663
407
7,101
9,870
14,353
5,716
272,963
3,113
486
464
177
1
41
168
149
61
4,660
14,485
4,496
1,751
774
3
51
931
774
209
23,474
20,287
8,227
2,013
1,065
12
58
1,448
1,309
339
34,758
13,136
6,235
1,005
627
43
99
927
960
276
23,308
39,878
30,154
1,433
164
6,158
910
7,385
2,120
1,746
3,295
1,660
62,866
1,399
8,496
6,696
7,239
39,367
205,472
26
46
30
7
505
41
152
173
208
840
3,625
168
230
272
97
3,776
87
661
690
868
3,650
17,567
253
296
452
221
6,719
97
906
973
1,160
5,062
25,644
67,491
1,035
5,907
9,114
(In thousands of dollars)
E a rn in g s f r o m c u r r e n t o p e r a t io n s :
Interest and discount on loans ..................................
Interest and dividends on securities......................
Exchange collected ........................................................
Other collection charges, commissions, fees, etc.
Foreign d e p artm en t.......................................................
Trust d e partm en t................................... * .....................
Service charges on deposit accounts......................
R ent received. ...................................................................
Other current earn ings.................................................
T o ta l e a rn in g s fr o m c u r r e n t o p e r a tio n s
E x pen ses o f c u r r e n t o p e r a t io n s :
Salaries— officers.............................. ...............................
Salaries and wages— other em p loy ees..................
Fees paid to directors and members of execu
tive, discount, and advisory com m ittees . . . .
Legal fe e s .............................................................................
Interest on public fu n ds..............................................
Interest on postal savings deposits........................
Interest on other time deposits................................
Interest and discount on borrowed money . . . .
Real estate ta x e s ..............................................................
Other taxes............................................ ............................
Insurance and fidelity bond p rem iu m s................
Other current expenses.................................................
T o ta l c u rre n t e x p e n s e s .......................................
N e t e a rn in g s fr o m c u r r e n t o p e r a t i o n s ............
2,676
87
772
797
158
17,890
23,082
13,811
1,120
664
19
639
1,952
2,217
550
44,054
22,162
13,621
619
1,021
112
1,242
1,704
2,398
599
43,478
28,568
21,062
561
1,993
213
4,469
1,801
5,133
3,489
67,289
7,017
5,744
2
52
4
415
167
616
35
14,052
4,096
1,864
2,847
1,564
6,034
4,843
4,814
5,675
6,370
11,416
741
1,598
174
207
297
196
4,966
77
583
638
722
3,293
17,113
127
153
232
158
4,291
94
493
447
506
2,339
13,251
322
410
544
363
10,622
202
1,301
1,077
1,291
5,843
32,852
274
412
516
187
10,852
304
1,262
1,013
1,118
5,926
32,353
341
761
902
431
14,685
497
2,669
1,314
1,176
10,974
51,536 j
469
371
190
1,440
11,531
4,639
11,202
11,125
15,753 i
2,521
6,195 !
9,691
5,395
700
290
61
161
50
6,450
CORPORATION
898
INSURANCE
7,508
FEDERAL
Banks with deposits on December 31, 1935 o f—
9,473
10,276
28,005
7,040
221
56
116
86
1,159
524
1,382
376
1,423
965
2,736
625
794
684
2,120
420
681
625
1,818
276
1,387
1,618
4,982
872
1,336
1,440
5,078
989
2,190
3,072
6,972
3,163
282
1,292
2,801
233
479
3,441
5,749
4,018
3,400
8,859
8,843
15,397
4,608
122,285
1,514
9,348
14,863
10,213
8,039
20,061
19,968
31,150
7,129
L o sse s a n d d e p r e c ia tio n :
On lo a n s.................................
On securities........................
On banking house, furniture and fixtures..........
Other losses and depreciation.........................
„ T o ta l losses a n d d e p r e c i a t i o n .......................
64,956
39,627
5,857
15,972
126,412
861
143
159
193
1,356
4,042
1,271
745
829
6,887
5,378
2,459
977
1,372
10,186
4,034
2,359
573
807
7,773
3,283
2,104
382
660
6,429
8,653
6,307
1,002
2,620
18,582
10,226
7,625
803
2,429
21,083
21,279
12,630
1,096
5,631
40,636
7,200
4,729
120
1,431
13,480
N e t a d d itio n to p ro fits fo r c u r r e n t p e rio d . . .
C a sh d iv id e n d s d e c la r e d ............................
4,127
20,317
158
246
2,461
1,571
4,677
2,416
2,440
1,604
1,610
1,189
1,479
3,122
1,115
3,131
9,486
5,625
6,351
1,413
OF
N e t a d d itio n to p ro fits a fte r c a s h d iv id e n d s.
24,444
88
890
2,261
836
421
1,643
4,246
15,111
7,764
O th e r c h a n g e s in c a p ita l a c c o u n t :
Assessments and other contributions...................
C om m on capital written off.......................................
P aym ent of waived d e p osits.....................................
Other net increase or decrease in capital account
12,462
12,341
4,181
12,873
87
146
601
844
801
865
596
658
489
943
456
320
504
1,535
1,075
1,447
944
2,969
1,140
925
938
4,089
727
5,408
172
2,457
7,500
1,710
INSURED
206
280
883
313
1,298
N e t c h a n g e in t o t a l c a p it a l a c c o u n t .................
15,631
39
1,272
2,082
1,228
1,588
10
880
17,507
3,463
N um ber o f officers.........................................................
N um ber o f em ployees.............................................
20,359
28,332
1,442
492
5,062
2,137
4,878
3,331
2,248
2,277
1,410
1,707
2,465
4,445
1,489
4 ,636
1,285
8,391
80
916
20
N O T E : Italics indicate deficit, d ed u ction from profits, or net decrease in capital account.
BANKS
217
14,89
COMMERCIAL
54,794
N e t e a rn in g s a n d r e c o v e r ie s ..........
EARNINGS
R eco v e rie s, p ro fits 011 s e c u ritie s s o ld , e tc :
Recoveries on loans.............................
Recoveries on securities....................
Profits on securities sold ...................
All o th e r ...................................
T o ta l reco veries, p ro fits o n se cu r itie s
so ld , e t c ............................
218
T a b le 145.
A V E R A G E S PER BAN K
OF E A R N IN G S , E X P E N S E S , AND D IS P O S IT IO N
OF P R O F IT S
OF O P E R A T IN G
C o m m e r c ia l B a n k s n o t M e m b e r s o f t h e F e d e r a l R e s e r v e S y s t e m , C a l e n d a r Y e a r
IN S U R E D
1935
B A N K S O P E R A T IN G TH RO U G H O U T E N T IR E Y E A R G R O U P E D B Y A M O U N T OF D E PO SITS
N e t ea rn in g s f r o m c u r r e n t o p e r a t i o n s .............
$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
Over
to
50,000,000 $50,000,000
4
124
7,508
898
2,406
1,909
757
436
660
314
$30,626
17,137
1,781
1,354
122
1,636
2,416
3,781
1,159
60,012
$ 5,980
952
1,001
317
1
52
323
298
85
9,009
$10,851
3,323
1,330
575
$28,694
15,532
2,482
1,893
130
136
2,589
3,170
807
55,433
$42,323
21,891
2,685
2,077
22
701
723
173
17,698
$17,967
8,284
] ,711
952
7
274
1,365
1,558
338
32,456
421
3,548
5,788
1,440
80,173
$59,724
43,234
2,195
1,829
492
2,250
5,779
9,601
1,826
126,930
$123,481
83,877
4,067
4,325
1,142
8,341
9,957
12,337
6,516
254,043
$348,309 $3,005,000
2,241,333
211,902
667
4,561
22,667
19,179
3,333
1,732
206,333
86,919
135,667
21,585
348,000
62,561
11,667
41,260
5,974,667
798,008
$10,097
7,751
$ 3,211
352
$ 5,504
766
$ 7,952
2,422
$12,601
6,299
$14,254
9,271
$19,035
18,501
$ 33,340
48,261
$ 96,423
170,179
321
734
746
388
15,137
648
2,837
1,605
1,907
10,145
52,316
59
126
72
18
1,138
94
371
345
457
1,902
8,145
123
288
225
108
3,269
144
689
563
838
3,305
15,822
227
379
477
325
7,385
168
1,172
850
1,337
6,059
28,753
310
604
799
553
12,189
570
2,189
1,552
2,166
9,897
49,729
516
1,004
1,034
803
20,047
1,182
3,784
2,771
2,912
14,314
71,892
686
1,747
1,958
1,318
30,537
3,830
6,168
3,404
4,451
24,300
115,935
1,095
2,806
2,858
615
75,058
3,224
9,084
5,750
8,126
38,449
228,666
3,764
13,130
8,325
3,504
140,219
4,041
38,561
26,553
16,504
152,699
673,902
864
$ 1,876
$ 3,703
$ 5,704
$ 8,281
$10,995
$25,377
$124,106
$ 7,696
$
$
345,000
760,667
20,333
67,667
26,000
2 ,’694,667
329,666
159,000
86,667
663,333
5,153,000
$
821,667
CORPORATION
Ex pen ses o f c u r r e n t o p e r a tio n s :
Salaries— officers..............................................................
Salaries and wages— other em ployees..................
Fees paid to directors and members o f execu
tive, discount, and advisory com m ittees . . . .
Legal fe e s ............................................................................
Interest on public funds..............................................
Interest on postal savings deposits........................
Interest on other time deposits................................
Interest and discount on borrowed m o n e y . . . .
Real estate ta x e s .............................................................
Other taxes.........................................................................
Insurance and fideility bond prem ium s...............
Other current expenses.................................................
T o ta l c u r r e n t e x p e n s e s .......................................
$250,000
to
500,000
INSURANCE
E a rn in g s f r o m c u r r e n t o p e r a t io n s :
Interest and discount on lo a n s................................
Interest and dividends on securities......................
Exchange collected......................... ..............................
Other collection charges, commissions, fees, etc.
Foreign departm ent.......................................................
Trust de partm ent...........................................................
Service charges on deposit accounts......................
R ent received....................................................................
Other current earnings.................................................
T o ta l e a rn in g s f r o m c u r r e n t o p e r a tio n s
$100,000
to
250,000
DEPOSIT
Num ber of banks
$100,000
and
under
FEDERAL
Banks with deposits on December 31, 1935 of—
All
banks
R eco v e rie s, p ro fits o n s e c u ritie s s o ld , e tc :
Recoveries on loans........................................................
Recoveries on securities..............................................
Profits on securities s o ld .............................................
All o th e r..............................................................................
T o ta l reco v eries, p ro fits o n secu rities
so ld , e t c .....................................................................
$ 2,866
2,076
7,053
1,889
13,884
1,226
3,622
7,521
16,525
17,810
37,326
55,781
221,390
1,716,666
N e t ea rn in g s a n d r e c o v e r ie s .....................................
$21,580
$ 2,090
$ 5,498
$11,224
$22,229
$26,091
$48,321
$81,158
$345,496
$2,538,333
L o sses a n d d e p r e c ia tio n :
On lo a n s..............................................................................
On securities......................................................................
On banking house, furniture and fixtures..........
Other losses and depreciation..................................
T o ta l lo sses a n d d e p r e c i a t i o n .......................
$29,004
16,953
1,434
8,448
55,839
$ 1,859
231
345
414
2,849
$ 4,269
899
751
1,017
6,936
$ 5,733
2,964
1,684
1,681
12,062
$16,476
10,115
1,784
2,853
31,228
$18,540
10,084
1,233
5,141
34,998
$53,134
15,637
3,285
33,639
105,695
$62,748
114,539
2,835
25,495
205,617
$218,626 $5,956,567
103,675
3,567,667
9,902
40,000
117,195
1,208,333
449,398 10,772,667
N e t a d d itio n to p ro fits fo r c u r r e n t p e rio d . . .
C a sh d iv id e n d s d e c la r e d .............................................
434,259
3,303
838
1,764
$ 8,999
3,017
$ 8,907
3,695
$ 57,374
6 ,600
$124,459
12,717
$103,902 $8,234,334
471,000
45,732
$149,634 $8,705,334
$
$ 4,128
2,665
8,815
2,202
$ 7,758
5,889
19,182
4,497
$ 6,619
5.414
39,334
4.414
$12;602
$63;974
$137,176
645
137
2,672
2,706
971
463
3,834
8,592
4,932
1,740
8,497
11,883
766
1,206
5,799
16,377
12,923
12,519
4,694
55,684
3,043
3,086
47,783
279
$ 2,504
$ 1,599
$ 3,108
$68,345
$39,838
24,727
7,429
1,448
2,704
323
312
25
517
N e t c h a n g e in t o ta l c a p ita l a c c o u n t .................
$19,008
643
1,122
$
Ita lics in d ica te deficit, d e d u ctio n from profits, or net decrease in capital account.
5,910
43,967
1,398
19,975
7.500.000
1.710.000
1,022,999
$169,114 $3,938,333
COMMERCIAL
$12,016
$199,333
430,667
977,666
109,000
INSURED
$ 2,602
$ 1,146
$
$35,659
37,870
106,276
41,585
OF
$ 2,337
$37,562
BANKS
219
$ 2,265
2,007
10,216
2,037
$ 1,438
899
N e t a d d itio n to p ro fits a ft e r c a s h d ivid e n d . ..
NOTE:
$ 1,671
1,229
3,640
981
759
387
O th e r c h a n g e s in c a p ita l a c c o u n t :
Assessments and other contributions...................
C om m on capital written off......................................
Paym ent of waived dep osits.....................................
Other net increase or decrease in capital accoun
$
$ 1,169
434
1,389
630
EARNINGS
$
491
131
334
270
220
T a b le 146.
E a r n i n g s , E x p e n s e s , AND DISPOSITION OF PROFITS, RATIOS, INSURED COMMERCIAL BANKS NOT MEMBERS
o f t h e F e d e r a l R e s e r v e S y s t e m , C a l e n d a r Y e a r 1935
B A N K S O P E R A T IN G TH RO U G H O U T EN TIR E Y E A R G R O U P ED B Y A M O U N T OF D E PO SITS
Banks with deposits on December 31, 1935 of—
$100,000
and
under
$100,000
to
250,000
$250,000
to
500,000
$500,000
to
750,000
$750,000
to
1,000,000
$5,000,000
Over
to
50,000,000 $50,000,000
$1,000,000
to
2,000,000
$2,000,000
to
5,000,000
660
314
124
$66.80
10.43
13.76
.88
3.60
4.53
100.00
$61.71
19.15
10.76
.22
3.96
4.20
100.00
$58.37
23.67
8.86
.17
4.16
4.77
100.00
$56.36
26.75
7.00
.42
3.98
5.49
100.00
$54.17
30.15
5.53
.49
4.32
5.34
100.00
$52.39
31.35
4.05
1.45
4.43
6.33
100.00
$50.97
31.33
3.77
2.86
3.92
7.15
100.00
$42.45
31.30
3.80
6.64
2.68
13.13
100.00
$49.94
40.88
.38
2.95
1.19
4.66
100.00
$27.27
1.21
.61
23.03
5.56
17.59
75.27
$35.82
.64
.15
10.84
6.97
23.37
77.79
$31.81
1.16
.41
16.08
5.76
19.62
74.84
$28.93
1.30
.64
19.33
5.40
18.18
73.78
$27.21
1.27
.84
21.30
5.24
17.56
7 3.42
$26.22
1.30
.88
23.99
5.25
16.43
74.07
$26.35
1.24
.82
24.11
5.40
16.65
74.57
$25.70
1.19
.43
24.96
5.23
16.90
74.41
$28.07
1.34
.64
21.82
5.92
18.80
76.59
$18.22
36
' 45.90
5.98
11.60
82.06
N e t e a rn in g s fr o m c u r r e n t o p e ra tio n s
$24.73
$22.21
$25.16
$26.22
$26.58
$25.93
$25.43
$25.59
$23.41
$17.94
A m o u n t s per $100 of to ta l a sse ts
Total earnings from current operations....................
Total current expenses......................................................
$ 4.32
3.25
$ 5.62
4.37
$ 4.90
3.67
$ 4.61
3.40
$ 4.43
3.25
$ 4.26
3.16
$ 4.24
3.16
$ 4.16
3.10
$ 4.27
3.27
$ 3.52
2.89
N e t e a rn in g s fr o m c u r r e n t o p e r a tio n s
Recoveries, profits on securities, etc...........................
$ 1.07
.86
$ 1.25
.58
$ 1.23
.72
$ 1.21
.76
$ 1.18
.76
$ 1.10
.81
$ 1.08
.85
$ 1.06
.85
$ 1.00
$
N et ea rn in g s a n d r e c o v e r ie s .....................................
Losses and depreciation on assets...............................
$ 1.93
2.00
$ 1.83
1.64
$ 1.95
1.44
$ 1.97
1.35
$ 1.94
1.48
$ 1.91
1.53
$ 1.93
1.79
$ 1.91
2.02
$ 1.98
2.58
$ 1.78
3.37
N et a d d itio n to pro fits fo r c u r r e n t p erio d .
Cash dividends declared...................................................
.07
.32
.19
.30
.51
.33
.62
.32
$
.46
.30
$
.63
.30
$
.16
$
A m o u n t s per $100 o f to t a l ea rn in g s
E a rn in g s f r o m c u r r e n t o p e r a t io n s :
Interest and discount on lo a n s ................................
Interest and dividends on securities......................
Exchange and collection ch arges............................
Trust d epartm ent...........................................................
Service charges on deposit accounts......................
Other earnings..................................................................
T o ta l ea rn in g s f r o m c u r r e n t o p e ra tio n s
$51.85
28.97
5 46
2.60
3.62
7.50
100.00
Expen ses o f c u r r e n t o p e r a tio n s :
Salaries and w ages.........................................................
Interest on public fun ds..............................................
Interest on postal savings deposits........................
Interest on other time deposits................................
T a x es.....................................................................................
Other expenses..................................................................
T o ta l c u r r e n t e x p e n s e s .......................................
N et a d d itio n to profits a fte r c a sh d iv id e n d s.
$
.39
$
.18
$
.38
.28
.10
.11
.14
.30
$
.63
1.15
.30
.36
$ 1.59
.35
.41
.96
$ 1.94
CORPORATION
757
INSURANCE
1,909
7,508
DEPOSIT
2,406
Number of b a n k s..................................................................
FEDERAL
All
banks
$ 6.52
5.30
$ 4.49
2.08
$ 6.28
3 .6 6
$ 7.25
4 .58
$ 7.30
4.74
$ 7.35
5.39
$ 6.57
5.20
$ 6.57
5.22
$ 5.96
5.83
$ 6.27
11.45
N e t ea rn in g s a n d r e c o v e r ie s ................................
Losses and depreciation on assets...........................
$11.82
12.22
$ 6.57
5.89
$ 9.94
7.32
$11,83
8.11
$12 .04
9.16
$ 12 .74
10.19
$11.77
10.90
$11.79
12.45
$11.79
15.38
$17.72
33.51
$
$
$ 2 .62
1.67
$ 3.72
1.92
$ 2.88
1.89
$ 2.55
1.88
$
$
$
$
.95
$ 1.80
$
$
$
N e t a d d itio n to p ro fits fo r c u r r e n t p e rio d .
Cash dividends declared..............................................
N e t a d d itio n to p ro fits a fte r c a sh dividend
.87
1.83
2.13
$ 15 .79
3.51
2 .5 1
$ 5 .7 2
$ 1 9 .3 0
.66
1.85
3 .5 9
$ 2 .3 6
$
$ 5.75
$ 8.03
$ 7.05
$ 6.64
$ 6.35
$ 6.15
$ 5.72
$ 5.56
$ 4.79
$ 4.68
3.51
.50
2.28
2.64
3.55
.47
2.82
2.22
3.65
.46
2.59
1.97
3.53
.48
2.46
1.76
3.52
.51
2.36
1.95
3 .53
56
2.31
2.08
3.63
.59
2.31
2.15
3.43
.58
2.17
2.56
3.53
.41
2.17
3.57
3.17
.35
2.27
4.80
1.76
1.04
1.03
1.06
1.33
1.38
1.66
1.92
2.12
2.61
2.98
4.64
5.05
4.73
3.99
3.25
2.98
2.35
2.00
1.32
.38
.99
.67
.96
$
INSURED
NOTE:
.68
1.06
OF
S p ecia l ra tio s
Interest and discount on loans per $100 o f total
lo a n s......................................................................................
Interest and dividends on securities per $100 of
total securities.........................................................
Service charges per $100 of demand deposits
Interest on time deposits per $100 of time deposits
of individuals, partnerships and corporations .
Losses on loans per $100 of total lo a n s....................
Losses on securities per $100 of total securities . .
Losses and depreciation on banking house, furni
ture and fixtures, per $100 of banking house,
furniture and fixtures...................................................
.40
1.96
EARNINGS
A m o u n t s per $100 o f t o ta l c a p ita l a c c o u n t
N e t earnings from current operations..................
Recoveries, profits on securities, etc......................
I t a l i c s i n d i c a t e d e f i c i t o r d e d u c t i o n f r o m pr of it s.
COMMERCIAL
BANKS
DO
to
222
T a b le 147.
SALARIES AND W AG ES OF OFFICERS AND EMPLOYEES, INSURED COMMERCIAL STATE BANKS, CALENDAR Y E A R 1 9 3 5
GROUPED BY CLASS OF BANK, BY AMOUNT OF DEPOSITS, AND BY STATES
Salaries and wages paid during 1935 (in thousands of dollars)
N um ber o f officers and employees on December 31, 1935
All insured
State banks
T otal
Other
Active em
offi
ploy
cers
ees
Total
Total
7,337 52,670 50,287 20,940 29,347 194,776
Active
Offi
cers
Other
em
ploy
ees
Total
j Other
Other
Active i emActive em
Total
offi ! ployoffi
ploy
cers j ees
cers
ees
83,236 111,540 123,222 42.,516 80,706 71,554 40,720 '30,834
1,958
7,518
8,932
1,460
5,269
5,312
498
2,249
3,620
24
319
714
18
207
431
6
112
283
1,934
7,199
8,218
1,442
5,062
4,881
492
2,137
3,337
1,621
7,413
10,418
1,443
6,446
8,082
178
967
2,336
24
345
908
10
288
695
$500,000 to $750,000 .....................
$750,000 to $1,000,000 .................
$1,000,000 to $ 2,000,000 .............
5,253
3,605
8,494
2,621
1,624
3,031
2,632
1,981
5,463
728
481
1,547
373
212
556
355
269
991
4,525
3,124
6,947
2,248
1,412
2,475
2,277
1,712
4,472
6,958
5,166
13,508
4,771
3,328
7,531
2,187
1,838
5,977
998
751
2,601
675
479
1 ,485
$2,000,000 to $ 5,000,000 .............
$ 5,000,000 to $50,000 ,000 ...........
Over $ 5 0,000 ,000 ............................
N o t operating throughout entire
y e a r ...................................................
9,615
23,946
39,077
775 2,645 6,195
1,891 12,024 10,031
996
2,736 35,345
1,500
1,345
80
4,695
8,686
916
16,649
44,756
85,749
7,627
16,527
26,098
9,022
28,229
59,651
1,597
7,068
9,510
164
1,433
910
6,158
7,387; 2,123
323 5,960
272 4,415
1,116 10,907
4,096' 1,864
2,849: 1,566
6,045 4,861
6,111 2 ,793 3,318 10,538
26,637 10 ,016 16,621 18,119
83,410 25 ,357 58,053 2,339
4,834' 5,704
6,511 11,608
7411 1,598
14
57
213
665
436
1,896
633
1,263
778
138
640
1,118
495
623
2,538
1,383
1,155
1,437
718
719
1,101
S ta te
A la b a m a ...............................................
A rizo n a.................................................
A rkansas..............................................
C alifornia............................................
C olo rado..............................................
771
154
674
4,846
426
346
43
378
879
165
425
111
296
3,967
261
228
58
110
3,429
170
60
14
34
470
33
168
44
76
2,959
137
543
96
564
1,417
256
286
29
344
409
132
257
67
220
1,008
124
963
284
772
9,961
659
592
136
566
3,672
344
371
148
206
6,289
315
340
115
156
7,213
326
138
52
88
2 ,460
125
202
63
68
4,753
201
623
169
616
2,748
333
C onnecticut........................................
D elaw are..............................................
District of C olu m b ia.....................
F lorid a..................................................
G eorgia.................................................
1,064
609
944
597
1,154
228
153
125
251
558
836
456
819
346
596
315
342
466
69
404
53
57
39
14
142
262
285
427
55
262
749
267
478
528
750
175
96
86
237
416
574
171
392
291
334
2,258
1,187
1,235
883
1,622
1,058
561
416
530
1,018
1,200
626
819
353
604
779
773
814
129
675
361
342
239
55
342
418
431
575
74
333
1,479
414
421
754
947
697
219
177
475
676
782
195
244
279
271
Id a h o .....................................................
Illino is...................................................
Ind ian a.................................................
Io w a .......................................................
K a n sa s..................................................
319
5,699
2,704
2,314
1,176
112
1,713
1,085
1,166
665
206
207
3,986 2,881
325
1,619
331
1,148
511]
115
62
407
87
107
53
144
2,474
238
224
62
113
2,818
2,379
1,983
1,061
50
1,306
998
1,059
612
63
1,512
1,381
924
449
472
9,264
3,483
2,908
1,519
257
4,349
1,946
1,976
1,096
215
4,915
1,537
932
423
326
5,591
527
540
169
159
2 ,113
264
299
109
167
3,478
263
241
60
146
3,673
2,956
2,368
1,350
98
2,236
1,682
1,677
987
48
1,437
1,274
691
363
!
169
454
85
841
138
478
1,212 1,536
114
219
CORPORATION
w ith d e p o sits o f —
and u n d er.......................
to $250,000 .....................
to $500,000 .....................
2,275 7,340 3,420
3,236 20,710 13,915
2,816 36,261 38,081
State banks not mem
bers F. R . System
INSURANCE
Banks
$100,000
$100,000
$250,000
Other
Other
Active em
Active em
offi ploy Total
offi
ploy
cers
cers
ees
ees
State banks m em
bers F. R . System
All insured
State banks
DEPOSIT
U n ite d S ta te s— t o t a l ........................... 110,294 28,277 82,017 60,007
State banks not m em
bers F. R . System
FEDERAL
State banks m em
bers F. R. System
69
21
42
77
321
272
92
159
615
1,994
1,440
683
198
885
711
M ich ig a n ..............................................
M in n eso ta ................ ..........................
M ississippi..........................................
M issou ri...............................................
M o n ta n a ..............................................
3,386
1,733
991
4,491
356
943
1,154
470
1,541
177
2,443
579
521
2,950
179
1,567
61
16
2,190
162
289
51
7
310
65
1,278
10
9
1,880
97
1,819
1,672
975
2,301
194
N ebrask a.............................................
791
24
40
4,836
100
531
260
7
17
14
26
836 4,000
53
47
47
29
18
N ew H am pshire...............................
N ew Jersey.........................................
N ew M ex ico .......................................
7
2,895
17
3
403
10
4
2,492
7
N ew Y o r k ...........................................
N orth Carolina.................................
N orth D a k o ta ...................................
O h io ........................................................
O klahom a............................................
31,389
1,674
372
6,523
688
2,881 28,508 26,265
631 1,043
503
266
106
1,467 5,056 4,038
395
293
5
O regon..................................................
Pennsylvania.....................................
Rhode Isla n d .....................................
South Carolina.................................
South D a k o ta ....................................
357
10,365
646
432
495
135
1,685
84
218
337
222
8,680
562
214
158
Tennessee............................................
T e x a s.....................................................
U ta h .......................................................
V e rm o n t...............................................
V irginia.................................................
1,163
1,872
482
288
1,542
623
951
154
98
616
540
921
328
190
926
W ash in gton ........................................
W est Virginia....................................
W isconsin............................................
W y o m in g .............................................
767
668
2,640
153
325
253
1,319
80
442
415
1,321
73
2,459
1,183
622
2,382
6,037
1,541
764
260
1,061
2,439
918
419
362
1,321
3,598
581
221
325
1,222
4,763
310
2711
86
135
126
199
445
777
1,881 2,882
1,878
962
297
1,160
1,274
1,270
678
134
616
558
608
284
163
544
716
654
1,103
463
1,231
112
1,165
569
512
1,070
82
4,669
2,203
1,305
6,301
588
1,996
1,805
846
3,188
397
2,673
398
459
3,113
191
2,345
97
15
3,672
319
818
89
11
1,388
185
1,527
8
4
2,284
134
2,324
2,106
1,290
2,629
269
1,178
1,716
835
1,800
212
1,146
390
455
829
57
744
24
33
1,941
83
502
7
11
433
37
242
17
22
1,508
46
888
44
61
9,140
117
729
23
35
3,584
81
159
21
26
5,556
36
58
44
14
12
5,595
19
8
2,031
16
4
3,564
3
830
44
49
3,545
98
685
23
27
1,553
65
145
21
22
1,992
33
896
546
266
1,021
392
4,228
625
106
1,464
291
68,689
2,435
402
10,947
787
22,296
1,385
348
3,967
593
46,393
1,050
54
6,980
194
59,353 18,859 40,494
780
325
455
7,561
8
2,026
6
5,535
2
9,336
1,655
402
3,386
779
3,437
1,060
348
1,941
587
5,899
595
54
1,445
192
424
7,334
58
482
4C5
218
3,235
22
332
355
206
4,099
36
150
51
359
577
156
213
. 541
446
3
3,592
2
5,124
1,171
372
2,485
683
36
6,056
611
39
117
19
644
77
15
65
17
5,412
534
24
52
321
4,309
35
393
378
116
1,041
7
203
272
205
3,268
28
190
106
477
19,621
1,320
551
578
252
7,376
480
369
476
225
12,245
840
182
102
53
12,287
1,262
69
172
34
4,141
458
37
121
19
8,146
804
32
51
90
363
267
26
178
74
64
185
193
1,358
2,471
816
436
2,320
929
1,696
400
223
1,343
429
775
416
213
977
70
198
260
356
476
736
135
190
570
71
391
232
125
597
773
80
98
491
141
589
492
481
1,073
1,509
215
288
1,061
811
375
436
858
1,217
1,882 1,305
168
324 !
436
223
1,509
968
396
267
362
38
108
67
73
18
288
200
289
20
371
401
2,278
115
217
186
1,246
62
154
215
1,032
53
1,192
1,088
3,591
228
697
579
2,405
156
495
509
1,186
72
729
519
628
51
343
234
282
36
386
285
346
15
463
569
2,963
177
354
345
2,123
120
109
224
840
57
223
1,985 24,280
85
418
691
340
146
539
559
749’
343
52
346
152
BANKS
341
113
201
692
2,315
COMMERCIAL
963
432
305
1,154
2,553
INSURED
818
364
94
423
473
OF
1,781
796
399
1,577
3,026
EARNINGS
K e n tu c k y .............................................
Louisiana.............................................
M a in e ....................................................
M a ry la n d ............................................
M assach usetts...................................
BANK SUSPENSIONS AND RECEIVERSHIPS
N u m b e r AND DEPOSITS OF BANKS SUSPENDING OPERATIONS DURING 1 9 3 5 1
224
T a b le 148.
GROUPED BY CLASS OF BANK, BY AMOUNT OF DEPOSITS, AND BY STATES
Deposits (in thousands of dollars) i n - -2
Number of—
insured banks
Insured banks
Members F. R.
System
Total
N ational
State
N on
insured
banks
Total
Total
M em bers F. R.
System
N ational
4
22
8
9,852
9,005
5,263
$100 000 to $250 000
$250 000 to $500 000
15
13
3
9
11
3
1
2
9
10
1
6
2
841
2,352
876
527
1,819
876
194
574
$500 000 to $750 000
2
2
1,288
1,288
$9 ,UUU
non ,UUU
nnn lU
1
1
4,495
4,495
B a n k s w ith d e p o s its o f— 2
non
jU
V/U non ....................................................
2
1
3,742
847
527
1,625
302 ;
314
533
1,288
4,495
S ta te
1
1
3
1
1
3
Kentucky
M ichi^sn
Missouri
Nebraska
^Jew Jersey
1
1
5
1
2
Ohio
Oklahoma
1
3
1
1
3
1
3
1
1
3
1
5
1
4
Wisconsin
3
3
2
2
1
1
1
1
1
2
1
2
1
1
2
3
1
2
1
3
1
1
3
1
4
1
84
284
28
18
225
84
284
284
182
182
28
18
43
29
59
886
194
649
29
59
419
194
649
29
59
419
467
261
562
4,495
136
272
261
562
4,495
136
272
313
1,357
313
1,150
194
649
261
562
4,495
.................1..................
j
313 .................
. ..!
............
136
272
1,150
207
i n c lu d e s (a) Planters State Bank, M ou n ta in Park, O klahom a, suspended April 10, 1935, and reorganized and reopened as an insured bank, April 23, 1935; (b) Central
State Bank of Sherm an, Sherm an, T exas, suspended D ecem ber 31, 1935, and not placed in receivership until 1936.
2D eposits of insured banks as o f date o f suspension; deposits of noninsured banks as of latest report date prior to date of suspension.
CORPORATION
California
Gcorgis
Illinois
Indiana
Kansas
INSURANCE
26
N on
insured
banks
DEPOSIT
34
State
N ot
members
F R.
System
FEDERAL
Total
N ot
members
F. R .
System
T a b le 149.
D esig
nating
number
N am e and location
INSURED BANKS PLACED IN RECEIVERSHIP, 1 9 3 4 — 1 9 3 5
j
Class | Year
of or
of
bank1 j gani
zation
D ate of suspension
D ate receivership
became final
D ate of first p a y
ment to depositors
by F D IC
Receiver
1934
M ay 28, 1934
April 19, 1934
July 18, 1934
July 18, 1934
August 6, 1934
June 25, 1934
July 17, 1934
July 18, 1934
July 28, 1934
August 9, 1934
July 3, 1934
July 19, 1934
July 31, 1934
August 1, 1934
August 15, 1934
State banking authority
State banking authority
F D IC
State banking authority
State banking authority
6
Farmers 8b Traders B an k, Porterfield, Wisconsin. . .
The Pickens County B ank, Jasper, G eorgia...............
The State B ank, Sauk C ity , W isconsin.......................
Farmers State Bank of Bongards, Bongards, Minn.
c
c
c
c
1919
1909
1906
1915
October 11, 1934
October 13, 1934
November 16, 1934
September 13, 1934
October 11, 1934
October 30, 1934
December 3, 1934
December 17, 1934
October 15, 1934
Novem ber 5, 1934
December 12, 1934
January 8, 1935
State
State
State
State
10
11
12
13
14
15
Cliffside Park Title Guarantee 6s Trust C o .,
Grantwood, N ew Jersey.................................................
The National Bank o f H erndon, Herndon, Virginia
Palm etto State B ank, Lake C ity, South Carolina . .
The First State B ank, Cheyenne, O klahom a............
G uaranty State B an k, Clinton, O klahom a...............
The State Bank of M ilford , M ilford, K a n sa s .........
1925
1910
1934
1898
1910
1906
January 3, 1935
January 9, 1935
March 9, 1935
March 25, 1935
April 4, 1935
April 10, 1935
January 14, 1935
January 9, 1935
M arch 9, 1935
M arch 25, 1935
April 4, 1935
April 10, 1935
January 23, 1935
January 28, 1935
March 11, 1935
April 5, 1935
April 16, 1935
April 15, 1935
State banking authority
F D IC
State banking authority
F D IC
F D IC
State banking authority
16
17
18
19
20
The Farmers B ank, R oyston , G eorgia.........................
First State Bank o f Agra, Agra, K a n sa s....................
Blue Springs State B an k, Blue Springs, M issouri. .
Anchor State B ank, W est Milwaukee, Wisconsin . .
State B ank of Suam ico, Suam ico, W isconsin............
1907
1901
1932
1926
1920
M ay
M ay
June
June
June
M a y 13, 1935
M a y 3 , 1935
June 1, 1935
October 11, 1935
June 24, 1935
M a y 15, 1935
M a y 13, 1935
June 14, 1935
October 14, 1935
June 29, 1935
State
State
State
State
State
21
22
23
B ank o f Grantville, Grantville, G eorgia......................
M erchants & Farmers B ank, M arietta, Georgia. . .
The Farmers National B ank of Sardinia, Sardinia,
O h io ...........................................................................................
The First N ational B ank of Pender, Pender,
N e b ra sk a .................................................................................
The Commercial N ational Bank of Bradford,
Bradford, Pennsylvania..................................................
c
A
c
c
c
c
c
c
c
c
c
c
c
1901
1911
July 20, 1935
July 22, 1935
August 2, 1935
August 2, 1935
August 2, 1935
August 5, 1935
State banking authority
State banking authority
A
1921
July 24, 1935
July 24, 1935
August 5, 1935
F D IC
A
1892
June 29, 1935
July 25, 1935
August 7, 1935
F D IC
A
1890
September 28, 1935
September 28, 1935
October 21, 1935
F D IC
C
1915
1929
1924
1903
October 23, 1935
Novem ber 18, 1935
Novem ber 26, 1935
November 27, 1935
October 28, 1935
Novem ber 18, 1935
Novem ber 26, 1935
November 27, 1935
November
December
December
December
1880
December 5, 1935
December 5, 1935
December 16, 1935
State banking authority
December 7, 1935
December 14, 1935
December 16, 1935
December 20, 1935
December 7, 1935
December 24, 1935 ’ December 27, 1935
December 26, 1935
December 16, 1935
State banking authority
State banking authority
State banking authority
7
8
9
banking
banking
banking
banking
authority
authority
authority
authority
1935
24
25
26
27
28
29
30
Friendship State B ank, Friendship, W isconsin.. . .
Livingston State B ank, Livingston, New Jersey..
The Farmers B ank, W e st Louisville, K e n tu c k y .. ..
c
c
c
c
c
c
c
1910
1928
1910
13, 1935
16, 1935
7, 1935
13, 1935
State
State
State
State
banking
banking
banking
banking
banking
banking
banking
banking
banking
authority
authority
authority
authority
authority
authority
authority
authority
authority
1A— N ation a l ban k m em ber o f the Federal Reserve System ; B— State bank m em ber of the Federal Reserve System ; C— Bank not m em ber o f the Federal Reserve System .
225
31
32
33
Buna State B ank, B una, T e x a s .......................................
Presidio Valley B ank, Presidio, T e x a s.........................
Lennon State B ank, Lennon, M ich igan ......................
B ank o f Linden, Linden, W iscon sin ..............................
Farmers Bank o f Chariton County, Keytesville,
M isso u ri...................................................................................
2, 1935
3, 1935
1, 1935
4, 1935
24, 1935
RECEIVERSHIPS
1919
1929
1919
1903
1895
AND
C
C
A
C
C
SUSPENSIONS
Fon du Lac State B ank, East Peoria, Illinois..........
B ank o f America Trust C om pany, Pittsburgh, Pa.
The First N ational Bank of Lim a, Lim a, M ontana
The Florence D eposit B ank, Florence, Indiana . . . .
Bank o f Lewisport, Lewisport, K e n tu c k y ..................
BANK
1
2
3
4
5
T a b le 150.
ASSETS OF INSURED BANKS PLACED IN RECEIVERSHIP, 1 9 3 4 — 1 9 3 5
esig
itin
mb<
N am e and location
Total
assets
Cash and
due from
banks
226
AS SHOWN BY BOOKS OF BANKS AT DATE OF SUSPENSION
Banking
United
Loans, dis
Other real
house,
States
j Other
estate
Government securities counts, and furniture
overdrafts and fixtures
securities
Other
assets
$362,593
$1,666,968
1,329,865
79,365
120,319
69,565
Fon du Lac State B ank, East Peoria, Illin o is..................................
Bank of America Trust Com pany, Pittsburgh, Pennsylvania. .
The First National B ank of Lim a, Lim a, M o n ta n a .......................
The Florence D eposit Bank, Florence, In d ian a...............................
Bank of Lewisport, Lewisport, K en tu c k y...........................................
373,780
1,434,996
90,870
105,466
81,079
86,439
24,321
6,404
5,855
1,972
16,173
563,379
1,417
2,000
184,730
31,984
11,944
466
227,493
571,003
17,635
64,077
55,473
5,281
24,461
6,500
1,600
7,000
36,294
52,210
100
14,892
26,930
21,990
468
Farmers & Traders Bank, Porterfield, W iscon sin ...........................
The Pickens County Bank, Jasper, G eorgia.......................................
The State Bank, Sauk C ity, W isconsin ................................................
Farmers State Bank o f Bongards, Bongards, M innesota............
45,549
243.050
195,038
91,499
3,049
22,398
17,502
17,116
9,728
1,600
21,666
9,520
19,112
184,624
132,085
58,363
4,700
10,423
12,900
6,500
T o t a l, 1935 (24 b a n k s ) ..........................................................................
12,323,948
1,974,181
510,479
6,842,116
459,055
242,274
1,597,403
2,304,923
386,897
148,542
427,433
264.050
118,096
27,745
18,819
32,608
20,801
30,880
40,531
56,950
52,500
133,671
2,250
478,242
291,158
200
5,000
17,800
82,352
63,845
311,546
152,135
55,959
176,131
7,916
769
10,000
2,000
1,754
66,475
5,600
13
14
15
Cliffside Park Title Guarantee & Trust C o., Grantwood, N . J.
The National Bank o f Herndon, Herndon, Virginia......................
Palm etto State Bank, Lake C ity, South Carolina..........................
The First State B ank, Cheyenne, O k lah om a....................................
Guaranty State B ank, Clinton, O k lah om a.........................................
The State Bank of M ilford, M ilford, K an sas....................................
^1,365,709
8,654
115,165
2,534
4,290
16
17
18
19
20
The Farmers Bank, R oyston, G eorgia..................................................
First State Bank of Agra, Agra, K a n s a s.............................................
Blue Springs State B ank, Blue Springs, M issou ri...........................
Anchor State B ank, W est M ilwaukee, W iscon sin ...........................
State B ank of Suamico, Suamico, W iscon sin ....................................
166,367
129,456
234,807
890,787
161,196
30,852
7,132
46,034
105,745
46,394
11,067
586
3,250
438
12,057
5,368
95,996
101,340
171,400
734,726
75,091
13,094
11,000
1,335
20,000
7,200
14,772
6,263
1,300
471
900
2,015
453
5,335
87,144
12,626
67,229
67,403
132,322
142,152
193,845
3,275,238
3,000
35,000
13,100
119,915
8,285
29,431
8,796
12,000
10,816
1,082
631
1,129
14,361
62,126
966
407
1,995
3,569
15,751
18,616
51,044
127,503
187,159
7,670
6,956
5,394
7.000
4.000
4,961
6,694
417
13,290
28,806
8,628
2,372
593
20,180
7,211
73,502
61,946
28,042
1,000
4,021
800
1,035
14,598
5,862
559
1
2
3
4
5
6
7
8
9
10
11
12
21
22
23
24
25
T o t a l, 1934 (9 b a n k s ) .............................................................................
B ank of Grantville, Grantville, G e o r g ia .............................................
Merchants 8b Farmers Bank, M arietta, G eorgia.......... ..................
The Farmers N ational Bank o f Sardinia, Sardinia, O hio............
Th e First N ational B ank of Pender, Pender, N ebraska..............
The Commercial N ational B ank of Bradford, Bradford, P a ... .
90,708
226,546
308,215
301,146
5,162,042
10,938
13,597
44,932
34,113
1,217,990
26
27
28
29
30
B una State B ank, Buna, T e x a s ................................................................
Presidio Valley B ank, Presidio, T e x a s...................................................
Lennon State B ank, Lennon, M ich ig a n ...............................................
Bank of Linden, Linden, W isconsin........................................................
Farmers Bank o f Chariton County, Keytesville, M issouri. . . .
47,009
73,188
79,062
224,176
286,594
17,244
27,225
15,429
53,146
80,714
31
32
33
Friendship State Bank, Friendship, W iscon sin .................................
Livingston State B ank, Livingston, N ew Jersey.............................
Th e Farmers B ank, W est Louisville, K en tu ck y...............................
146,862
91,233
54,613
29,198
3,457
18,657
i ;
ludes trusteed assets
o f $1,289,905 to secure guaranteed participation certificates of $1,225,810.
16,150
6,400
14,700
16,244
25,390
10,230
10,962
34,201
408,728
5,200
1,780
5,500
21,388
600
15,700
8,260 | .
7,855
700
4,485
5,900
2,052
652
CORPORATION
$538,420
273,638
INSURANCE
158,171,981
603,519
2,661,327
DEPOSIT
$784,117
185,056
$14,985,275
FEDERAL
$2,159,237 $1,301,959
T o t a l, 1934 -19 35 (33 b a n k s ) ...................................................................
T ab le 151.
L IA B IL IT IE S OF IN S U R E D
BANKS
PLACED
IN R E C E IV E R S H IP ,
1934— 1935
AS SH O W N B Y BO O K S OF B A N K S A T D A T E OF SU SP E N SIO N
D esigna
ting
number
N am e and location
T o t a l, 1934-1935 (33 b a n k s ) ...................................................................
Total
liabilities
Deposits
secured and
preferred
Deposits
Other
Other
secured not secured unsecured
and not
liabilities
liabilities
preferred
$14,985,275 $1,283,764 $1,904,480 $ 9,368,713
Farmers & Traders Bank, Porterfield, W isconsin..........................
The Pickens C ounty B ank, Jasper, Georgia......................................
The State B ank, Sauk C ity, Wisconsin................................................
Farmers State Bank of Bongards, Bongards, M innesota............
45,549
243.050
195,038
91,499
10,606
T o t a l, 1935 (24 b a n k s ) ..........................................................................
12,323,948
563,529
11
12
13
14
15
Cliffside Park Title Guarantee & Trust Co., Grantwood, N. J.
The N ational Bank of Herndon, Herndon, V irginia.....................
Palm etto State Bank, Lake C ity, South Carolina..........................
The First State Bank, Cheyenne, O klahom a....................................
Guaranty State Bank, Clinton, O klahom a........................................
The State B ank o f M ilford, M ilford, K ansas....................................
2,304,923
386,897
148,542
427,433
264.050
118,096
71,700
52.000
3,925
64,715
22,711
16
17
18
19
20
The Farmers B ank, R oyston, G eorgia..................................................
First State B ank of Agra, Agra, K an sas.............................................
Blue Springs State Bank, Blue Springs, M issouri..........................
Anchor State Bank, W est Milwaukee, W isconsin..........................
State B ank o f Suamico, Suamico, W isconsin....................................
166,367
129,456
234,807
890,787
161,196
16.000
6,501
8,821
20,200
3,180
23,060
3,000
9,978
21
23
24
25
Bank o f Grantville, Grantville, G eorgia..............................................
M erchants & Farmers Bank, Marietta, G eorgia.............................
The Farmers National B ank o f Sardinia, Sardinia, O h io ............
The First N ational Bank o f Pender, Pender, N ebrask a..............
The Commercial N ational B ank of Bradford, Bradford, Pa. .. .
90,708
226,546
308,215
301,146
5,162,042
9,557
66,922
15,248
212,177
26
27
28
29
30
Buna State Bank, Buna, T e x a s ...............................................................
Presidio Valley Bank, Presidio, T exas..................................................
Lennon State Bank, Lennon, M ichigan..............................................
Bank o f Linden, Linden, W isconsin.......................................................
Farmers Bank o f Chariton County, Keytesville, M issouri. . . .
47,009
73,188
79,062
224,176
286,594
31
32
33
Friendship State Bank, Friendship, W isconsin................................
Livingston State Bank, Livingston, New Jersey.............................
The Farmers B ank, W est Louisville, K e n tu c k y ..............................
146,862
91,233
54,613
2
3
4
5
6
7
8
9
10
22
692,500
80,000
432.100
92,272
226,073
369,994
39,688
69,065
67,940
7,036
6,487
182
1,401
55
40,000
50.000
262.100
25.000
25.000
15.000
40,671
60,285
1,000
31,663
195,294
169,907
62,133
10
11,239
62
861
5,000
25,000
1 ,1 2 4
1 0 ,6 1 2
3 ,9 3 1
10,000
10.000
15.000
20.000
10,000
1,826,850
8,136,956
285,036
250,500
922,500
338,577
1,564,363
576,993
246,801
135,614
229,712
122.605
82,723
47,884
25,144
640
5,201
10,346
3,584
100,000
91,561
89,449
181,214
690,822
124,922
3,604
2.744
6,500
12,907
192
47,533
119.605
194,176
178,793
4,2 8 2 ,8 4 8
371
5,143
5,380
9,918
121,857
18.000
60,000
16,696
35,827
54,415
180,050
229,148
262
13,057
5.000
5.000
1.745
40
35,000
125,251
71,600
28,598
51
453
8,013
43,630
25,000
7,129
9,000
65,915
100,000
5,000
6,383
1Th is item includes surplus, u n d ivid ed profits, and reserve funds minus op eratin g deficit, if any, as shown b y books.
3Italics in d ica te net op era tin g deficit.
10,000
1 ,9 1 6
2,101
15.000
10.000
15,683
24,037
2,288
6,105
6,388
2,864
7,500
15.000
25.000
10.000
15.000
40.000
15.000
2,762
3,294
6,858
2,902
25.000
25.000
30.000
25.000
300,000
7,241
11,737
13,164
245,160
25.000
10.000
50.000
50.000
10.000
20,000
15.000
25,000
10,000
35 8
196
20.000
51
20,000
20,000
20,000
12,500
696
353
5,998
9,906
10,000
1,560
50.000
15.000
3 0 ,8 2 0
3,002
227
10,000
27,333
RECEIVERSHIPS
373,780
1,434,996
90,870
105,466
81,079
$330,500 $1,354,600 $430,849
1,231,757
77,630
AND
Fon du Lac State Bank, East Peoria, Illinois..................................
B ank o f America Trust Com pany, Pittsburgh, Pennsylvania. .
The First N ational Bank o f Lim a, Lima, M o n ta n a ......................
The Florence Deposit B ank, Florence, Indiana...............................
Bank o f Lewisport, Lewisport, K entucky...........................................
$312,369
Other
capital
accounts
(1 2)
SUSPENSIONS
720,235
Common
stock
BANK
2,661,327
T o t a l, 1934 (9 b a n k s ) ............................................................................
D eben
tures
T a b le 152.
DEPOSITS OF INSURED BANKS PLACED IN RECEIVERSHIP, 1 9 3 4 — 1 9 3 5
REVISED TO DECEMBER 3 1 , 1 9 3 5
D esigna
ting
number
N am e and location
Secured and
preferred
Subject to
offset
Uninsured,
unsecured, not Restricted
preferred and and deferred
deposits
not subject
uninsured
to offset
T o ta l1
Insured2
T o t a l, 1934 -19 35 (33 b a n k s ).
$ 1 0 ,9 8 3 ,2 5 9
$ 7 ,0 5 3 ,6 6 7
$ 1 ,2 0 7 ,2 1 2
$65 5,98 5
$ 1 ,9 9 0 ,1 0 8
$76 ,287
T o ta l, 1934 (9 b a n k s ) ..........
1 ,9 6 5 ,1 1 9
9 40 ,416
755 ,533
9 5 ,100
102,786
71,284
239 ,124
1 ,0 59,783
41,6 4 3
68,962
6 8 ,148
1 04,567
315 ,311
37,902
6 6 ,094
64,070
43 ,3 0 6
692 ,603
3,000
14,305
4 5 ,934
741
368
4,0 7 8
76,946
5,935
Farmers & Traders Bank, Porterfield, W iscon sin...............
The Pickens C ounty B ank, Jasper, G eorgia..........................
The State Bank, Sauk C ity, W isconsin....................................
Farmers State Bank of Bongards, Bongards, Minnesota .
3 1,733
2 12 ,636
170,351
72,739
27,641
187,737
120,840
16,254
1,300
1 ,900
16,705
9,495
2,792
15,870
7,479
3,533
T o ta l, 1935 (24 b a n k s ) .................................................................
451 ,679
560 ,885
1,8 8 7 ,3 2 2
Fon du Lac State Bank, East Peoria, Illin o is................................
B ank o f America Trust C om pany, Pittsburgh, Pennsylvania.
The First N ational B ank of Lim a, Lim a, M o n ta n a ....................
The Florence Deposit Bank, Florence, Ind ian a............................
Bank o f Lewisport, Lewisport, K en tu ck y.........................................
7,129
9 ,0 1 8 ,1 4 0
6,1 1 3 ,2 5 1
Cliffside Park Title Guarantee & Trust C o., Grantwood, New Jersey.
The National Bank o f Herndon, Herndon, Virginia....................................
Palm etto State Bank, Lake C ity, South Carolina........................................
The First State Bank, Cheyenne, O k la h o m a ..................................................
Guaranty State Bank, Clinton, O k la h o m a .......................................................
The State Bank of M ilford, Milford, K a n sa s..................................................
589 ,684
383 ,512
136,082
?,3 0 2 ,504
4! 76,169
86,812
562,151
282,960
135,582
3217,271
<129,406
70,112
27,618
16,266
29,670
40,654
3 5,189
3,133
12,870
6,237
1,477
11,267
4 3 ’, 264
500
3 1 ,709
5,337
12,090
16
17
18
19
2GL
The Farmers Bank, Royston, G eorgia................................................................
First State Bank of Agra, Agra, K a n s a s ...........................................................
Blue Srpings State Bank, Blue Springs, M isso u ri.........................................
Anchor State Bank, W est Milwaukee, W isconsin.........................................
State Bank of Suamico, Suamico, W isconsin..................................................
107,563
96,072
234,092
717,842
128,102
87,610
83,322
199,680
441 ,3 9 4
113,084
11,685
3,290
-5,064
15,314
3,180
8,268
2,760
7,984
115,826
10,560
6,700
21,364
145,308
1,278
21
23
24
25
Bank of Grantville, Grantville, G eorgia...............................................................
Merchants & Farmers Bank, M arietta, G eorgia..............................................
The Farmers National B ank of Sardinia, Sardinia, O h io ............................
The First N ational Bank of Pender, Pender, N ebrask a..............................
The Commercial National Bank of Etradford, B ra d fo rd , Pennsylvania.
47,551
132,280
261 ,180
194,509
4 ,6 2 1 ,4 6 3
4 5,493
112,394
186,197
166,329
2 ,5 7 7 ,1 6 9
9,557
63,026
15,248
212,177
2,058
9,912
10,304
11,438
2 76,124
417
1,653
1,444
1,555,993
26
27
28
29
30
Buna State B ank, Buna, T e x a s ................................................................................
Presidio Valley Bank, Presidio, T e x a s...................................................................
Lennon State Bank, Lennon, M ichigan................................................................
Bank of Linden, Linden, W isconsin........................................................................
Farmers Bank of Chariton County, Keytesville, M issouri..........................
28,894
48,8 9 8
73,544
188,276
229 ,148
31
32
33
Friendship State Bank, Friendship, W iscon sin ................................................
Livingston State Bank, Livingston, N ew Jersey.............................................
The Farmers B ank, W est Louisville, K e n tu c k y ..............................................
125,301
72,051
36,611
22
1
j
1
!
I
!
|
28,046
!
3 5,869
63,924 !
5,000
175,129 j
1,544
182,105 ..........................
117,669
70,518
29,837
..........................
848
4,192
4,620
10,655
11,474 !
3 ,988
1,533
1,771
r rh e am ount o f deposits given in T a ble 150 as show n by the books o f the banks at date o f suspension differs from the am ount show n on De
fa ct that during the process o f d ep osit p a y m en t some new item s were discovered and the status o f other item s with regard to insur
2D oes not include insured deposits w hich are also preferred or secured.
3Inclu des S4 >,429 representin g disputed claim s.
4Inclu des $10,000 representin g disputed claim s.
H
o
2,500
10
11
12
13
14
15
j
!
to
to
00
r
o
25,327
43,457
5,003
2
e!
&
>
d
..........................
..........................
1
8,837
948
35,569
3,644
.......................... ;
H
Tl
O
w
5,003
3 i , r >35, d u e to
as chan ,red.
the
o
T a b le 153.
PAYMENTS TO DEPOSITORS OF
B anks
5
7
8
9
In su red d e p o s its1
P a id b y
F D IC
F u lly paid
b y o ffse t
U n p a id
T ota l
P a id
U npaid
32,379
2,8 4 7
12,110
$ 7 ,0 5 3 ,6 6 7
$6,3 6 9 ,1 2 8
$684,539
15,525
31,184
896
3,445
9 40 ,416
921 ,759
18,657
Fon du Lac State Bank, East Peoria, Illinois.................................................
B ank of America Trust C om pany, Pittsburgh, Pennsylvania.................
The First National Bank of Lim a, Lima, M o n ta n a .....................................
The Florence D eposit Bank, Florence, Indiana.............................................
Bank of Lewisport, Lewisport, K entucky..........................................................
1,816
9,783
182
302
790
1,150
7,161
170
259
629
190
260
12
43
120
476
2,362
104,567 !
315,311
37 ,902 >
66*094 !
64,070
96,108
311 ,390
37,902
66,094
63,842
8,459
3,921
Farmers & Traders Bank, Porterfield, W isconsin..........................................
The Pickens C ounty Bank, Jasper, Georgia.....................................................
The State Bank, Sauk C ity, W isconsin..............................................................
Farmers State Bank of Bongards, Bongards, M innesota..........................
220
1,332
837
263
170
806
618
221
34
143
69
25
16
383
150
17
27,641
187,737
120,840
16,254
27,630
187,028
115,564
16,201
709
5,276
53
6 ,1 1 3 ,2 5 1
5,4 4 7 ,3 6 9
665 ,882
547,177
275,972
135,551
143,656
112,069
70,059
14,974
6,988
31
273,615
S17,337
53
41
228
11
31,811
2 1,195
1,951
8,665
12
13
14
15
4 ,140
1,821
403
1,161
436
362
3,715
1,082
396
727
289
299
83
199
164
27
39
342
540
7
270
120
24
16
J7
18
19
20
The Farmers Bank, R oyston, Georgia................................................................
First State Bank of Agra, Agra, K ansas............................................................
Blue Springs State B ank, Blue Springs, M issouri.........................................
Anchor State Bank, W est Milwaukee, W isconsin.........................................
State Bank of Suamico, Suamico, W isconsin..................................................
1,367
335
634
4 ,3 0 8
509
678
286
484
3,395
377
100
43
97
197
51
589
6
53
716
81
87,610
83,322
199,680
441 ,3 9 4
113,084
82,245
83,313
135,733
423 ,496
112,367
5,365
9
63,947
17,898
717
22
21
23
24
25
Bank o f Grantville, Grantville, G eorgia............................................................
Merchants & Farmers Bank, M arietta, G eorgia...........................................
The Farmers National B ank of Sardinia, Sardinia, O hio..........................
The First National B ank of Pender, Pender, N ebrask a.............................
The Commercial N ational B ank of Bradford, Bradford, Pennsylvania
290
1,645
971
694
9,052
259
1,024
785
502
4 ,689
21
181
99
99
361
10
440
87
93
4 ,002
45 ,493
112,394
186,197
166,329
2 ,5 7 7 ,1 6 9
45,018
108,044
181,307
164,867
2,2 41,895
475
4,350
4,890
1,462
335 ,274
26
27
28
29
30
Buna State Bank, B una, T e x a s ..............................................................................
Presidio Valley Bank, Presidio, T exas.................................................................
Lennon State Bank, Lennon, M ich igan .............................................................
Bank of Linden, Linden, W iscon sin.....................................................................
Farmers Bank of Chariton County, Keytesville, Missouri........................
248
193
465
484
701
193
117
350
381
433
18
21
40
38
54
37
55
75
65
214
28,046
3 5,869
63,924
175,129
182,105
27,309
24,581
62,759
163,371
156,569
737
11,288
1,165
11,758
25,536
31
32
33
Friendship State B ank, Friendship, W isconsin...............................................
Livingston State Bank, Livingston, New Jersey...........................................
The Farmers Bank, W est Louisville, K e n tu c k y ............................................
724
570
298
375
234
125
17
332
336
171
117,669
70,518
29,837
101,752
25,443
22,816
15,917
45,075
7,021
11
^ o e s n o t i n c l u d e i n s u r e d d e p o s i t s w h i c h are also p r e f e r r e d o r s e c u re d .
2I n c l u d e s $ 4 9 , 4 2 9 r e p r e s e n t i n g d i s p u t e d c l a i m s .
3I n c l u d e s
10,000 r e p r e s e n t i n g d i s p u t e d c la i ms .
$
“ Paid’ :
2
562,151 !
282 ,960
135,582 I
2217,271
3129 ,406
70,112
'l um n in cl u de s p a y m e n t s m a l e t o D e c e m b e r 31, 1935.
229
T o t a l, 1935 (24 b a n k s ) ...........................................................................................
Cliffside Park Title Guarantee 8s Trust Co., Grantwood, New Jersey.
The N ational B ank of Herndon, Herndon, Virginia....................................
Palmetto State Bank, Lake C ity, South Carolina.........................................
The First State Bank, Cheyenne, O klahom a...................................................
Guaranty State Bank, Clinton, O klahom a.......................................................
The State B ank of Milford, M ilford, K an sa s..................................................
10
RECEIVERSHIPS
4 7 ,336
T o t a l, 1934 (9 b a n k s ) .............................................................................................
AND
T o t a l, 1934 -19 35 (33 b a n k s ) ....................................................................................
SUSPENSIONS
6
!
SANK
2
1 9 3 4 — 1935
R e c e iv e r s h ip ,
N a m e a n d lo ca tio n
T ota l
3
4
in
N u m b e r o f d e p o s ito rs
D e s ig n a
t in g
n u m b er
1
P la c e d
230
FEDERAL DEPOSIT INSURANCE CORPORATION
T a b le 154.
ASSETS, LIABILITIES, AND CAPITAL OF
T h e F e d e r a l D e p o s it I n s u r a n c e C o r p o r a t io n ,
A u g u s t 22, 1935
ASSETS
C A S H O N H A N D A N D O N D E P O S IT ..................................
$ 12,314,477.60
U N I T E D S T A T E S G O V E R N M E N T S E C U R IT I E S —
(cost less reserve for amortization of premiums) A N D
A C C R U E D I N T E R E S T R E C E I V A B L E .............................
3 2 2 ,366 ,564 .22
$334 ,6 8 1 ,0 4 1 .8 2
AS SE T S A C Q U IR E D T H R O U G H B A N K S U S P E N S IO N S :
Subrogated claims o f depositors against closed insured
banks.................................................................................................
N et balances of depositors in closed insured banks
pending settlement or not claimed, to be subrogated
when paid— contra.....................................................................
$
2 ,6 82,777.58
...........332,346 .54
$
3,015 ,1 2 4 .1 2
1,572,324.90
1,442,799.22
F U R N I T U R E , F I X T U R E S , A N D E Q U I P M E N T (less reserve for depreciation)
124,568 .65
Less:
Reserve for losses.............................................................
D E F E R R E D C H A R G E S A N D M IS C E L L A N E O U S A S S E T S ..............................
4 5 ,4 7 4 .7 6
T O T A L A S S E T S ..............................................................................................................
$336,293,884.45
L I A B I L IT I E S
C U R R E N T L IA B IL IT IE S :
Accounts and assessment rebates payable................................
N e t balances of depositors in closed insured banks pending
settlement or not claimed— contra..........................................
$
223,618.20
3 3 2,346 .54
U N U S E D C R E D IT S F O R A S SE S S M E N T S P A ID TO T E M P O R A R Y
F E D E R A L D E P O S IT I N S U R A N C E F U N D S ............................................................
$
5 55,964 .74
4 1 ,3 7 7 ,8 4 9 .0 0
R E S E R V E F O R U N D E T E R M I N E D E X P E N S E S A N D LO SSES.
98 ,9 3 5 .3 3
T O T A L L I A B I L I T I E S ...............................................................................
$ 4 2 ,0 3 2 ,7 4 9 .0 7
C A P IT A L
C A P IT A L S T O C K :
United States..........................................................................................
Federal Reserve banks.......................................................................
$150 ,00 0,00 0.00
139,299 ,556 .99
$289 ,29 9 ,5 5 6 .9 9
S U R P L U S — (September 11, 1933, to August 22, 1935):
Interest earned and profit on sales of securities (less pro
vision for amortization of prem ium s)....................................
Deductions:
Deposit insurance losses and ex
penses.....................................................
Administrative expenses....................
Provision for undetermined ex
penses and losses..............................
Provision for depreciation o f fur
niture, fixtures, and equipment
$
$ 12,521,367.78
1,670,285.42
5 ,927,908.50
67,914.94
44,7 0 3 .8 6
7 ,710,812.72
$
A dd— Portion o f deficit as of June 30, 1934, allocated to
members of the Fund that withdrew as of that date or
in voluntary liquidation prior thereto...................................
4,8107555.06
151,023.33
4 ,9 6 1 ,5 7 8 .3 9
T O T A L C A P IT A L .
$294,261,135.38
T O T A L L IA B IL IT IE S AN D C A P IT A L
$336,293,884.45
INDEX
I
N
D
E
X
Admissions to insurance:
Pase
Capital requirements.................................................................................................
28
During 1935..................................................................................................................
18-21
Legal provisions..........................................................................................................
70—71
Under temporary plan..............................................................................................
55—59
Advertising of membership in Fund....................................................................... 26, 92—95
Assessments. See Permanent Federal deposit insurance plan; Temporary
Federal deposit insurance plan.
Assets and liabilities of banks:
170
All commercial banks, semiannually 1934-35..................................................
All mutual savings banks, semiannually 1934-35...........................................
171
Changes during 1935 and factors in growth.....................................................
37—40
Insured banks placed in receivership, 1934-35.......... .................................. 226, 227
Insured commercial banks, call dates, 1934-35............................................... 172—75
Insured commercial banks not members of the Federal Reserve System:
Call dates, 1934-35............................................................................................ 172-75
Grouped by amount of deposits and by States, latest examination
in 1935............................................................................................................... 182-83
Grouped by amount of deposits, Dec. 31, 1935..................................... 176—81
Insured mutual savings banks, Dec. 31, 1934 and 1935..............................
50
Noninsured banks................................................................................................... 170, 171
Assets and liabilities of the Federal Deposit Insurance Corporation................ 12, 230
Assets, examiners’ analyses, insured commercial banks not members of the
Federal Reserve System, grouped by amount of deposits and by States:
Appraised values: losses, doubtful, slow, not criticized and net sound
value, latest examination in 1935..................................................... 40 -4 1, 184-91
Ratios of losses and doubtful items, and of slow assets, to total book
value of assets, 1933-35........................................................................................ 192—93
Bank examinations. See Examinations of banks.
Banking Act of 1935. See Law, revised deposit insurance.
Banking house, furniture and fixtures. See Assets and liabilities of banks.
Banking structure, changes during 1935.....................................................................
35—37
Banks. See Insured banks; Mutual savings banks.
Bennett, E. G., resignation as director of Federal Deposit Insurance Cor
poration ...............................................................................................................................
8
Bills payable. See Assets and liabilities of banks.
Board of Directors of the Federal Deposit Insurance Corporation..................
3, 68
Board of Governors of the Federal Reserve System:
Regulations and rulings............................................................................................
104
Regulation of interest rates.....................................................................................
30
Termination of insured status of banks.............................................................
74-75
Borrowed money. See Assets and liabilities of banks.
Branch banking:
Definition....................................................................................................................... 70, 121
Establishment and change of location of branches.......................................
22
Number of branches, and of banks operating branches. See Number
of operating banks; Number of operating branches.
Policy of Federal Deposit Insurance Corporation regarding.....................
29—30
Bureau of the Budget.........................................................................................................
11
Capital of banks (see also Assets and liabilities of banks):
Net sound capital:
Definition..............................................................................................................
42
Insured commercial banks not members of the Federal Reserve
System ................................................................................................ 42—43, 182—83
Policy of Federal Deposit Insurance Corporation regarding............
28 -2 9
Ratios to net sound assets, to deposits and to total capital account. 194-95
Reductions and retirements approved by the Federal Deposit Insurance
Corporation..............................................................................................................
22
Supplied by Reconstruction Finance Corporation 43, 50—51, 182—83, 196, 197
Total capital account:
Definition..............................................................................................................
41
Insured commercial banks, change during 1935....................................
41
Insured mutual savings banks, change during 1935............................
50-51
233
234
FEDERAL DEPOSIT INSURANCE CORPORATION
Page
Capital of the Federal Deposit Insurance Corporation.........................................12, 230
Subscription to stock by Federal Reserve banks and United States
Government..............................................................................................................
9, 70
Cash and amounts due from banks. See Assets and liabilities of banks.
Certified statement of deposits:
Date for filing............................................................................................... 10—11, 72, 106
Forms and instructions for preparing................................................................. 104—17
Legal provisions................................................................................................... 72—74, 105
Chartering of banks............................................................................................................
29
174
Circulating notes of national banks, call dates, 1934-35......................................
Commercial banks. See Assets and liabilities of banks; Capital of banks;
Deposits; Number of operating banks; Number of operating branches.
Comptroller of the Currency (see also Law, revised deposit insurance):
Chartering of national banks..................................................................................
29
Director of the Federal Deposit Insurance Corporation.............................
8
Condition reports (required by Federal Deposit Insurance Corporation. . ..
76—77
Consolidations and mergers:
Banks insured under temporary plan
............................................................
60—61
Insured with noninsured banks
....................................................................... 20, 85
Number, 1935
.......................................................................................................
145
Crowley, Leo T., Chairman of Board of Directors..................................................
8
Demand deposits. See Deposits.
Deposit insurance national banks:
Definition.......................................................................................................................
69
Legal provisions for
.............................................................................................
79—80
Organization and capitalization............................................................................
15—16
Deposit liabilities for assessment purposes................................................. 25 -2 7, 104-11
Deposits:
By class of bank:
Dec. 31, 1934, and Dec. 31, 1935................................................................
168
Dec. 31, or daily average Oct. 1 to Dec. 31, 1935................................ 150-55
By States and possessions...................................................................... 150-67, 182-83
By type of deposits......................................................................... .. 174, 177, 179, 181
Certified statement of. See Certified statement of deposits.
Changes during 1935:
B y States (chart)...............................................................................................
39
Factors in growth..............................................................................................
40
Related to bank changes................................................................................ 168-69
Definition.......................................................................................................... 69-70, 90-91
Demand:
Am ount......................................................................................... 174, 177, 179, 181
Definition..............................................................................................................
96
Prohibition of interest......................................................................................
97
In all commercial banks...................................................................... 150-63, 168, 170
In all insured banks:
Dec. 31, 1934, and Dec. 31, 1935................................................................
168
Dec. 31, or daily average Oct. 1 to Dec. 31, 1935................................ 150-55
In all mutual savings banks............................................. 150-55, 166-67, 168, 171
In banks grouped by amount of deposits......................................... 150-67, 176-82
In banks operating branches .............................................. 154-55, 160-63, 166-67
In insured commercial banks:
Call dates, 1934-35......................................................................................... 170, 174
Daily average, Oct. 1 to Dec. 31, 1935..................................................... 150-59
Dec. 31, 1934, and Dec. 31, 1935................................................................
168
In insured commercial banks not members of the Federal Reserve
System :
A t time of latest examination, banks operating Dec. 31, 1935. . . .
182
Call dates, 1934-35............................................................................................
174
Daily average, Oct. 1 to Dec. 31, 1935..................................................... 150-55
Dec. 31, 1934, and Dec. 31, 1935................................................................
168
In insured mutual savings banks:
Call dates, 1934-35............................................................................................
171
Dec. 31, 1934, and Dec. 31, 1935................................................................
168
Dec. 31, 1935...................................................................................... 150-55, 164-65
In noninsured banks.................................................. 150-59, 164-65, 168, 170, 171
Insured. See Insured deposits.
INDEX
235
Deposits— Continued
Pase
In suspended banks (see also Receiverships of insured banks).............. 168, 224
In unit banks........................................................................... 152-53, 160-63, 166-67
Interest on. See Interest.
Payments of to insured depositors. See Receiverships of insured banks.
Release of restricted deposits.................................................................................
22-23
Savings and time deposits:
Am ount......................................................................................... 174, 177, 179, 181
Definitions............................................................................................................
96-97
Regulation of interest and conditions of withdrawal...........................
98-99
Disposition of profits. See Earnings, expenses, and disposition of profits.
District banks, legal definition........................................................................................
69
Districts, Federal Deposit Insurance Corporation..................................................
9, 23
Dividends. See Earnings, expenses, and disposition of profits.
Dividends to depositors. See Receiverships of insured banks.
Division of Examination. See Examinations of banks.
Doubtful assets. See Assets, examiners’ analyses.
Earnings, expenses, and disposition of profits, insured banks:
44-48
Commercial banks, 1935..........................................................................................
Commercial banks, by class, 1934 and 1935.................................................... 198-99
Commercial banks not members of the Federal Reserve System op
erating throughout 1935, grouped by amount of deposits..................... 216-21
Commercial State banks operating throughout 1935, grouped by
amount of deposits................................................................................................. 200-15
Commercial State banks reporting net earnings from current operations,
1935........................................................................................... 204-05, 208-09, 212-13
Commercial State banks reporting net losses from current operations,
1935........................................................................................... 206-07, 210-11, 214-15
Mutual savings banks...............................................................................................
50-51
Effective date of Banking Act of 1935, legal definition........................................
70
Employees:
Federal Deposit Insurance Corporation.............................................................
9
Insured commercial State banks........................................................................... 222-23
Examinations of banks:
Analysis of assets. See Assets, examiners’ analyses.
Discussion......................................................................................................................
23-24
Legal provisions........................................................................................................... 76, 77
Expenses. See Earnings, expenses, and disposition of profits.
Expenses of the Federal Deposit Insurance Corporation during 1935___ 10-11, 13
Failures. See Suspensions; Receiverships of insured banks.
Federal Deposit Insurance Corporation (see also Law, original deposit
insurance; Law, revised deposit insurance):
Action on applications from banks......................................................................
18-23
Analysis of surplus.....................................................................................................
13
Assessments. See Assessments.
Assets and liabilities........................... ...................................................................... 12, 230
Board of Directors......................................................................................................
3
Capital stock.................................................................................................................
9
Creation..........................................................................................................................
3
Divisions and offices, changes in ...........................................................................
9
Expenses and income........................................................................................... 10-11, 13
Financial aspects.........................................................................................................
9-13
Forms and instructions............................................................................................. 104-17
17-18
Loans to insured banks............................................................................................
Organization and personnel.....................................................................................
9
Problems and policies................................................................................................
28-31
Procedure for paying depositors...................................................................... 11, 14-16
Purchase of assets of insured banks.....................................................................
17
Receiver for suspended insured banks.................................................. .............
16-17
Recommendations for State legislation..............................................................
27-28
Regulations and rulings............................................................................. 24-27, 87-103
Forms and instructions for preparing certified statement of deposits............... 104-17
Fund for M utuals.......................................................................... 48-49, 56, 57, 67, 73, 78
Goldsborough, Phillips Lee, director Federal Deposit Insurance Corporation
8
Home Owners’ Loan Corporation bonds........................... .........................................
38
Instructions for preparing certified statement of deposits................................... 104-17
Insurance coverage, amount of. See Insured deposits.
236
FEDERAL DEPOSIT INSURANCE CORPORATION
Insured banks. See
Page
Admissions to insurance;
Assessments;
Assets and liabilities of banks;
Assets of banks;
Branch banking;
Capital of banks;
Certified statement of deposits;
Consolidations and mergers;
Deposits;
Earnings, expenses, and disposition of profits;
Examinations of banks;
Law, revised deposit insurance;
Number of operating banks;
Number of operating banks and branches;
Number of operating branches;
Officers and employees;
Receiverships of insured banks;
Supervision of insured banks;
Suspensions;
Terminations of insurance.
Insured commercial banks (see also Insured banks)...............................................
37-48
Insured commercial banks not members of the Federal Reserve System.
See Insured banks.
Insured commercial State banks. See Insured banks.
Insured deposits:
Amount o f.....................................................................................................................
63-64
In banks no longer insured.....................................................................................
75-76
Maximum for each depositor:
7, 78
Under permanent plan....................................................................................
7, 10, 55-56
Under temporary plan................................................................
Insured mutual savings banks (see also Insured banks).......................................
48-51
Interest:
On deposits (see also Earnings, expenses, and disposition of profits):
Definition..............................................................................................................
97
Paid by insured commercial banks.............................................................
47
Regulation by Board of Governors of the Federal Reserve System 30, 100
Regulation by Federal Deposit Insurance Corporation....................
26,
30, 85-86, 95-101
On loans and securities.............................................................................................
47
Law, original deposit insurance:
Assessments..................................................................................................................
8
Capital............................................................................................................................
9
Duration of temporary plan of insurance.........................................................
7
Insurance coverage.....................................................................................................
7, 10
Law, revised deposit insurance.......................................................................................
68-86
Admissions to insurance..................................................................................... 18, 70-71
Annual report...............................................................................................................
83
Assessments................................................................................. 8, 10-11, 72-74, 84-85
Board of Directors......................................................................................................
68
Capital............................................................................................................................
9, 70
Certified statements...................................................................................... 10-11, 72-74
Comptroller of the Currency..................................................................... 74-75, 78-80
Condition reports........................................................................................................
76-77
Consolidations and mergers....................................................................................
85
Creation..........................................................................................................................
68
Definitions:
Branch...................................................................................................................
70
Closed bank.........................................................................................................
78
Deposit..................................................................................................................
69-7 0
District bank.......................................................................................................
69
Effective date......................................................................................................
70
Insured bank.......................................................................................................
69
Insured deposit...................................................................................................
70
Mutual savings bank........................................................................................
69
National member bank....................................................................................
69
National nonmember bank............................................................................
69
INDEX
237
Law, revised deposit insurance— Continued
Page
Definitions— Continued
New bank........... .................................................................................................
69
Noninsured bank...............................................................................................
69
Receiver................................................................................................................
69
Savings bank.......................................................................................................69, 100
State bank............................................................................................................
68
State member bank..........................................................................................
69
State nonmember bank...................................................................................
69
Transferred deposit...........................................................................................
70
Deposit insurance national banks........................................................................
79-80
Depository and fiscal agent of the Government.............................................
81
Display of membership sign...................................................................................
26, 84
Establishment of branches......................................................................................
85
Examination of banks........................................................................................ 76, 77, 85
Extension of temporary plan........................................................................... 10, 56, 67
Federal Reserve members.......................................................................................
86
Fund for M utuals.......................................................................................................
73, 78
Insured deposits:
In banks no longer insured............................................................................
75-76
Maximum amount........................................................................................ 7, 10, 78
Offset......................................................................................................................
70, 81
Payment o f...........................................................................................................
78-79
Interest rate regulation............................................................................................
26, 85
Investment of funds..................................................................................................
81
Loans to closed banks...............................................................................................
81-82
Loans to or purchase of assets of insured banks....................................... 17-18, 82
New national banks...................................................................................................
79-80
Payment of depositors in closed insured banks..............................................
79-81
Penalties for false statements, counterfeiting and embezzlement..............
83-84
Permanent Insurance Fund:
Banks insured in ................................................................................................
70, 71
Establishment.....................................................................................................
77-78
Powers of Federal Deposit Insurance Corporation.......................................
76, 82
Purchase of assets and loans to receivers..........................................................
81-82
Purchase of obligations of the Federal Deposit Insurance Corporation
by:
Reconstruction Finance Corporation.........................................................
83
Secretary of the Ti’easury..............................................................................
82-83
Purpose...........................................................................................................................
68
Receiver for closed banks........................................................................................
78-81
Regulations and rulings of the Federal Deposit Insurance Corporation
(see also Regulations and rulings).................................................................... 87-103
Regulation of insured banks...................................................................................
84-86
Surety bonds................................................................................................................
85
Tax exemptions...........................................................................................................
83
Temporary Federal deposit insurance funds:
Refunds..................................................................................................................
73
Termination.........................................................................................................
73
Termination of insured status of banks.............................................................
75-76
Trust funds....................................................................................................................
74
Law, State, regarding deposit insurance.....................................................................
27-28
Liabilities of banks. See Assets and liabilities of banks.
Liabilities of the Federal Deposit Insurance Corporation................... .. . . . . . . 12, 230
Loans and discounts. See Assets, examiners analyses; Assets and liabilities
of banks.
Loans to insured banks......................................................................................... 17-18, 81-82
Losses. See Assets, examiners’ analyses.
Losses and depreciation. See Earnings, expenses, and disposition of profits.
Manual of instructions for examiners..........................................................................
23
Mutual savings banks (see also Insured banks; Fund for Mutuals):
Assets and liabilities..................................................................................................
171
Deposits.......................................................................................................................... 164-69
Insured............................................................................................................................
48-51
Number........................................................................................................................... 140-46
National banks. See Deposit insurance national banks; Insured banks.
238
FEDERAL DEPOSIT INSURANCE CORPORATION
Pag e
Negotiable instruments..................................................................................................... 27, 102
Noninsured banks. See
Assets and liabilities of banks;
Capital of banks;
Consolidations and mergers;
Deposits;
Number of operating banks;
Number of operating banks and branches;
Number of operating branches;
Suspensions.
Number of operating banks:
Beginning operations during 1935........................................................................
147
B y amount of deposits.............................................................................................. 124-43
By class................................................................................................................ 124-25, 145
By States and possessions............................................................................... 62, 124-43
Ceasing operations during 1935.............................................................................
148
Changes during 1935......................................................................................... 35-37, 145
Insured banks, all............................................................................................... 62, 124-25
Insured commercial banks:
Dec. 31, 1934, and Dec. 31. 1935............................................................. 145, 198
Dec. 31, 1935...................................................................................... 124-25, 132-35
Jan. 1, 1934, and Aug. 23, 1935...................................................................
62
Semiannually, 1934-35................................................................................. 170, 172
Insured commercial banks not members of the Federal Reserve System:
Dec. 31, 1934, and Dec. 31, 1935............................................................. 145, 198
Dec. 31, 1935....................................................................................................... 124-25
Examined in and operating at close of 1933, 1934 and 1935............ 194-95
Jan. 1, 1934, and Aug. 23, 1935...................................................................
62
Operating throughout 1935........................................................................ 1 9 8 ,2 1 6
Semiannually, 1934-35.....................................................................................
172
Insured commercial State banks operating throughout 1935 and re
porting net earnings or net losses....................................................... 200, 204, 206
Insured mutual savings banks:
Dec. 31, 1934, and Dec. 31, 1935................................................................
145
Dec. 31, 1935...................................................................................... 124-25, 140-41
Jan. 1, 1934, and Aug. 23, 1935...................................................................
62
Semiannually, 1934-35.....................................................................................
171
Noninsured commercial banks.............................. 124-25, 132-35, 145, 168, 170
Noninsured mutual savings banks................................. 124-25, 140-41, 145, 171
Operating branches.................................................................. 128-29, 136-39, 142-43
Suspended......................................................................................................................11, 224
Unit banks.................................................................................. 126-27, 136-39, 142-43
W ith capital investment by Reconstruction Finance Corporation...........43, 196
Number of operating banks and branches:
By class of bank in each State and possession, Dec. 31, 1935.................. 122-23
Dec. 31, 1934, Dec. 31, 1935, and changes during 1935..............................
144
Number of operating branches:
B y class of bank in each State and possession, Dec. 31, 1935.................. 130-31
Dec. 31, 1934, Dec. 31, 1935, and changes during 1935..............................
146
O’ Connor, J. F. T., director Federal Deposit Insurance Corporation............
8
Officers and employees:
Federal Deposit Insurance Corporation.............................................................
9
Insured commercial State banks........................................................................... 222-23
Offset, deposits subject t o ............................................................. 14, 63, 70, 81, 228, 229
Payment of depositors. See Receiverships of insured banks.
Permanent Federal deposit insurance plan:
Admissions................................................................................... 7, 18-21, 28-29, 70-71
Assessments:
Base......................................................................................................................... 10, 91
Certified statement........................................................................... 10, 11, 104-11
Credits at close of temporary plan.......................................................... 8, 10-11
Deductions allowed..................................................................................... 26, 91-92
Legal provisions..................................................................................... 72-74, 84-85
R ate.........................................................................................................................
8, 10
Creation..........................................................................................................................
7, 77
Legislation. See Law, revised deposit insurance.
INDEX
239
Permanent Federal deposit insurance plan— Continued
Page
Number of insured banks. See Number oe operating banks.
Terminations...................................................................... 19-20, 24-25, 73-76, 87-89
Personnel :
Federal Deposit Insurance Corporation............................................................
9
Insured commercial State banks........................................................................... 222-23
Policies of the Federal Deposit Insurance Corporation........................................
28-31
11
President of the United States, Executive Order o f..............................................
Problems and policies of the Federal Deposit Insurance Corporation............ 28-31
Procedure for paying depositors............................................................................... 11, 14-16
Profits and recoveries. See Earnings, expenses, and disposition of profits.
Receiverships of insured banks:
Assets of insured banks placed in receivership:
Amount at date of suspension......................................................................
226
Liquidation o f.....................................................................................................
63
Class of bank....................................................................................................... 11, 16, 225
Date of suspension and date receivership became final...............................
225
Depositors:
Date of first payment......................................................................................
225
Methods of payment.................................................................................. 11, 14-16
Number fully and partially protected, paid and unpaid.......... 14, 63, 229
Deposits:
Insured paid and unpaid.................................................... 11, 14, 63, 228, 229
Restricted.............................................................................................................
228
Secured and preferred.................................................................. 14, 63, 227, 228
Subject to offset........................................................................................ 14, 63, 228
Uninsured.................................................................................................... 14, 63, 228
Dividends paid during 1934 and 1935................................................................
16-17
Legal provisions..................................................................................................... 69, 78-81
Liabilities at date of suspension............................................................................
227
Location of banks.......................................................................................................
225
Name of banks.............................................................................................................
225
Receiver......................................................................................................................... 16, 225
Reconstruction Finance Corporation:
Capital investment in banks............................................. 43, 51, 182-83, 196, 197
Purchase of Federal Deposit Insurance Corporation obligations.............
83
Recoveries, operating banks. See Earnings, expenses, and disposition of
profits.
Recoveries, suspended banks. See Receiverships of insured banks.
Refunds at close of temporary plan.................................................................. 8, 10-11, 73
Regulations and rulings of the Board of Governors of the Federal Reserve
System.................................................................................................................................
104
Regulations and rulings of the Federal Deposit Insurance Corporation:
Advertisements in bank directories, rule...........................................................
95
Agents upon whom service of process may be made, resolution.............. 102-03
Assessment of assumed deposit liabilities, rule...............................................
102
Definition of deposit liabilities, Regulation 1 ............................................ 24, 90-91
“ Equivalent of money” , Ruling 1 ............................................................... 26, 91
Determination of assessment base, Regulation I I ................................... 24, 91-92
Interpretation concerning permissible deductions, Ruling 1 .............
92
Display of signs and use of advertising statement, Regulation I I I . .. 24, 92-95
Negotiable instruments, rule..................................................................................
102
Notice of termination of insured status of a bank, Regulation H .......... 24, 89
Payment of deposits and interest thereon, Regulation I V ......................... 95-101
Withdrawal from temporary Federal deposit insurance funds, Regu
lation G ................................................................................................................ 24, 87-88
Restricted deposits...................................................................................................... 22-23, 228
Salaries and wages paid by insured banks. See Earnings, expenses, and
disposition of profits.
Salaries of officers and employees, insured commercial State banks, by
class of bank, by amount of deposits, and by States........................................ 222-23
Savings deposits. See Deposits.
Secretary of the Treasury:
Authorization to purchase obligations of the Federal Deposit Insurance
Corporation...............................................................................................................
82-83
Purchase of stock........................................................................................................
9, 70
Securities. See Assets and liabilities of banks.
240
FEDERAL DEPOSIT INSURANCE CORPORATION
Page
Service charges, income of insured banks from. See Earnings, expenses,
and disposition of profits.
Sign, official Federal Deposit Insurance Corporation.................................. 26, 84, 93
Slow assets. See Assets, examiners’ analyses.
State banks. See Insured banks.
State legislation affecting deposit insurance..............................................................
27-28
Supervising examiners................................................................................................ 23, 102-03
Supervision of insured banks (see also Examinations of banks).................... 8, 84-86
Surety bonds required by Federal Deposit Insurance Corporation................. 30, 85
Suspensions............................................................................................................................ 11, 224
Taxes paid by insured banks. See Earnings, expenses, and disposition of
profits.
Temporary Federal deposit insurance plan:
Assessments............................................................................................................... 9-10, 56
Banks insured:
Admissions............................................................................................... 18-19, 56-59
N um ber..................................................................................................... 57-58, 60-62
Terminations................................................................................ 18-19, 60-61, 149
Certified statement....................................................................................................
56
Cost of operation........................................................................................................
10
Creation.........................................................................................................................
55
Extension and revision.................................................................................. 7, 56-57, 67
Insurance coverage.....................................................................................................
55-56
Membership requirements by class of bank.....................................................
55
Termination of plan.............................................................................................. 7, 57, 73
Terminations of insurance:
During 1935................................................................................................ 18-21, 145, 169
Legal provisions concerning....................................................................................
73-76
19-20
Permanent plan.................................................................................. ........................
Regulations concerning.................................................................... *.......... 24-25, 87-89
Temporary plan............................................................. 7, 18-19, 57, 60-61, 73, 149
Withdrawals.................................................................................................. 19-21, 60, 149
Time deposits. See Deposits.
Trust funds, legal provisions for insurance................................................................
74
Uninsured banks. See Noninsured banks.
Unit banks. See Deposits; Number of operating banks.
United States Government obligations:
Held by banks. See Assets and liabilities of banks.
Held by Federal Deposit Insurance Corporation...........................................
74-75
Withdrawals from insurance. See Terminations of insurance.
Worthless assets. See Assets, examiners’ analyses.
@FedFRASER